Nifty, Sensex range-bound – Wednesday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

I had mentioned in Tuesday’s closing report that Nifty, Sensex were in a mild correction. The major indices of the Indian stock markets rallied on Wednesday to close 0.75%-0.84% higher than Tuesday’s close. The trends of the major indices in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance Solutions

 

Major Indices (The Total Investment & Insurance Solutions)

Positive domestic macro-economic data, coupled with firm global cues and upbeat quarterly automobile results lifted the Indian equities markets on Wednesday. India's gross domestic product (GDP) for the third quarter of 2016-17 Fiscal ended December, which recorded a growth of 7%, and expansion in the manufacturing Purchasing Managers' Index (PMI) to 50.7 in February, kept investors' sentiments buoyed. The key indices closed with gains of more than 0.5% each, as buying was witnessed in stocks of metal, banking and healthcare stocks. On the NSE, there were 914 advances, 571 declines and 79 unchanged. On the BSE, there were 1,647 advances, 1,199 declines and 196 unchanged. The Total Investment & Insurance Solutions

Two-wheeler maker Eicher Motors on Wednesday said it closed last month with 19 per cent sales growth. In a statement, the company said it sold a total of 58,439 units last month, up from 49,156 units sold in corresponding month of 2016. The company sold a total of 606,377 units during April 2016-February 2017 as against 456,834 units sold during the corresponding period of the previous year.  Eicher Motors shares closed at Rs23,712.00, down 1.89% on the BSE.

India's second largest car maker Hyundai Motor India Ltd on Wednesday said it sold 52,734 units last month, logging a 6% volume growth. In a statement, the company said it sold 52,734 units (domestic 42,327 units, exports 10,407) last month as against 49,729 units (domestic 40,716 units, exports 9,013) sold in February 2016. S & P BSE Auto Index closed at 21546.27, up 0.28%. The Total Investment & Insurance Solutions

Pharma major Lupin Limited on Tuesday said that it has received final approval for its Oxycodone and Acetaminophen tablets and sodium, potassium and magnesium sulphate oral solution from the US Food and Drug Administration (FDA). The approval will help the pharmaceutical company to market a generic version of Vintage Pharmaceuticals LLC's Percocet tablet and Braintree Laboratories' Bowel Prep kit. The company will commence promoting the products shortly. Percocet tablets had US sales of $838.7 million while Suprep Bowel Prep Kit had $207.2 million. On Wednesday, Lupin shares closed at Rs1,469.45, down 0.20% on the BSE. The Total Investment & Insurance Solutions

Tata Steel on Tuesday announced that its Rs542 crore ferro-chrome greenfield plant at Gopalpur Industrial Park in Odisha has commenced production. "The recently-commissioned ferro-chrome plant of Tata Steel at Gopalpur Industrial Park in Ganjam district of Odisha, has achieved a major milestone with the first ever production of ferro-chrome on February 25, 2017, in compliance with all technical parameters," a company statement said. As part of the anchor investment in Tata Steel's Gopalpur Industrial Park, the ferro-chrome plant has an installed capacity of 55,000 tonne per annum (tpa). A unique environment-friendly plant with state-of-the-art pollution control equipment and technology such as effluent treatment and sewage treatment plants, it was inaugurated by Odisha Chief Minister Naveen Patnaik on November 30, 2016. Tata Steel shares on Wednesday closed at Rs500.30, up 3.66% on the BSE.

The top gainers and top losers of the major indices are given in the table below:

The closing values of the major Asian indices are given in the table below:The Total Investment & Insurance SolutionsNifty, Sensex range-bound – Wednesday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

I had mentioned in Tuesday’s closing report that Nifty, Sensex were in a mild correction. The major indices of the Indian stock markets rallied on Wednesday to close 0.75%-0.84% higher than Tuesday’s close. The trends of the major indices in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance Solutions

Positive domestic macro-economic data, coupled with firm global cues and upbeat quarterly automobile results lifted the Indian equities markets on Wednesday. India's gross domestic product (GDP) for the third quarter of 2016-17 Fiscal ended December, which recorded a growth of 7%, and expansion in the manufacturing Purchasing Managers' Index (PMI) to 50.7 in February, kept investors' sentiments buoyed. The key indices closed with gains of more than 0.5% each, as buying was witnessed in stocks of metal, banking and healthcare stocks. On the NSE, there were 914 advances, 571 declines and 79 unchanged. On the BSE, there were 1,647 advances, 1,199 declines and 196 unchanged. The Total Investment & Insurance Solutions

Two-wheeler maker Eicher Motors on Wednesday said it closed last month with 19 per cent sales growth. In a statement, the company said it sold a total of 58,439 units last month, up from 49,156 units sold in corresponding month of 2016. The company sold a total of 606,377 units during April 2016-February 2017 as against 456,834 units sold during the corresponding period of the previous year.  Eicher Motors shares closed at Rs23,712.00, down 1.89% on the BSE.

India's second largest car maker Hyundai Motor India Ltd on Wednesday said it sold 52,734 units last month, logging a 6% volume growth. In a statement, the company said it sold 52,734 units (domestic 42,327 units, exports 10,407) last month as against 49,729 units (domestic 40,716 units, exports 9,013) sold in February 2016. S & P BSE Auto Index closed at 21546.27, up 0.28%. The Total Investment & Insurance Solutions

Pharma major Lupin Limited on Tuesday said that it has received final approval for its Oxycodone and Acetaminophen tablets and sodium, potassium and magnesium sulphate oral solution from the US Food and Drug Administration (FDA). The approval will help the pharmaceutical company to market a generic version of Vintage Pharmaceuticals LLC's Percocet tablet and Braintree Laboratories' Bowel Prep kit. The company will commence promoting the products shortly. Percocet tablets had US sales of $838.7 million while Suprep Bowel Prep Kit had $207.2 million. On Wednesday, Lupin shares closed at Rs1,469.45, down 0.20% on the BSE. The Total Investment & Insurance Solutions

Tata Steel on Tuesday announced that its Rs542 crore ferro-chrome greenfield plant at Gopalpur Industrial Park in Odisha has commenced production. "The recently-commissioned ferro-chrome plant of Tata Steel at Gopalpur Industrial Park in Ganjam district of Odisha, has achieved a major milestone with the first ever production of ferro-chrome on February 25, 2017, in compliance with all technical parameters," a company statement said. As part of the anchor investment in Tata Steel's Gopalpur Industrial Park, the ferro-chrome plant has an installed capacity of 55,000 tonne per annum (tpa). A unique environment-friendly plant with state-of-the-art pollution control equipment and technology such as effluent treatment and sewage treatment plants, it was inaugurated by Odisha Chief Minister Naveen Patnaik on November 30, 2016. Tata Steel shares on Wednesday closed at Rs500.30, up 3.66% on the BSE.

The top gainers and top losers of the major indices are given in the table below:

 

Top Gainer (The Total Investment & Insurance Solutions)

The closing values of the major Asian indices are given in the table below:The Total Investment & Insurance Solutions

Asian Indices (The Total Investment & Insurance Solutions)

Banks need incentives to clean up bad loans: SBI-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

The State Bank of India (SBI) on Wednesday said that the Reserve Bank of India (RBI) needs to give some incentives to banks for resolution of bad loans in terms of provisions or extending the deadline of March 31 to clean up their books. The Total Investment & Insurance Solutions

"Wherever resolution is being attempted, some kind of incentivisation from RBI in terms of NPA (non-performing assets) recognition date of March 31, 2017, or in terms of provisions should be given. If this relaxation can be given, banks will be encouraged for faster resolution," SBI MD Dinesh Kumar Khara told BTVi in an interview. The Total Investment & Insurance Solutions

"Various professional agencies have got into the process of resolution. I think consultants are also coming up for managing the stressed assets. Things are happening but one month is too short for definite results," he said.

Khara said that though the banking sector is prepared for the worst, whatever be the regulatory guidelines, it is also putting forth its viewpoint. 

He also notes that in every case, the public sector banks are assured of government support.

"The budget statement was clear that if required the government would not hesitate to support the banks. They will find the means and ways to fund banks. I don't expect problem on this count provided banks have justified reason for additional capital," he said.

Meanwhile Finance Minister Arun Jaitley had sidelined the idea of bad bank on the account that the taxpayers' money should not be used to pay for corporate defaulters to banks.

"Creation of a bad bank or a public sector agency is one of the suggestions. Any mechanism eventually supported by the Budget should be avoided. If a private company doesn't pay the bank, then taxpayer should not pay the bank for it," Jaitley had said on Tuesday. 

Khara however said: "Bad banks are not essentially expected to pick up bad assets, but also turnaround these and make them profitable. Bad banks will have investors who see the turnaround of these assets." The Total Investment & Insurance Solutions

He said that banks had made assessments based on judgement and assumptions, many of which didn't turn out the same way but all decisions were not bad. 

"All banks make assessment. Not all decisions could be bad. Banks can segregate such assets and focus on justified lending," he added. The Total Investment & Insurance Solutions

Trump Said He Made USD 21 Million in Income From His New York Contracts. He Actually Made a Lot Less-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

 

Trump (The Total Investment & Insurance Solutions)

When he was running for president last May, Donald Trump released 104 pages of details about his finances, including a claim that he earned nearly $21 million through contracts with New York City to run two skating rinks in Central Park and a Bronx golf course.

Much of what Trump asserts remains unverified since he has thus far declined to release his tax returns. But ProPublica obtained the financial records and receipts Trump submitted to New York City for the two leases and they show that he cleared a lot less from those deals, earning no more than half of what he claimed. The Total Investment & Insurance Solutions

Of course, the skating rinks and golf course are but a tiny corner of the Trump financial empire. Still, the records add to the suspicion — originally advanced by Fortune, Forbes and other news organizations — that Trump's official disclosures exaggerate his accomplishments as a businessman by reporting gross receipts rather than actual profits.

Trump submitted the listing of his financial holdings to the U.S. Office of Government Ethics, a requirement for presidential candidates. He reported income from the New York City leases of $20.8 million but did not disclose the expenses he incurred while running those operations.

The Office of Government Ethics reviews financial disclosures for compliance. It doesn't audit the filings, leaving it up to candidates to decide whether to report gross revenue or net income from their business dealings. Either is allowed on the form, as long it's clear.

In the disclosure Trump filed, the numbers for the New York leases are listed under "Income Amount." Former government ethics attorneys say that while most previous nominees understood this to require reporting income net of expenses, the requirements are vague enough to allow either interpretation. The Total Investment & Insurance Solutions

"It's sufficiently ambiguous that, while Trump may meet their reporting requirements, it's really misleading," said Virginia Canter, who served as associate counsel for ethics in the Clinton and Obama administrations and ethics adviser for the International Monetary Fund.

Wealthy political candidates and Cabinet picks have reported income with expenses subtracted, repeating the numbers reported on their income tax returns. For example, former Commerce Secretary Penny Pritzker, a Chicago billionaire with sizable real-estate assets, reported on her financial disclosure form that she earned at least $164 million, a figure described as taxable income. Even then, Pritzker had to file an amended form after she understated her income.

The Trump Organization did not respond to requests for comment. The White House did not respond to a request for comment about the president's income but said in a statement that Trump is "exempt from conflicts" under federal law. (While it is true that the president and vice president are exempt from any criminal penalties resulting from conflicts of interest, that does not preclude the existence of such conflicts.)

New York City documents released to ProPublica in response to a public-records request show that in previous years, Trump spent at least $4.5 million annually on employee salaries, subcontractors, insurance, taxes and benefits at the skating rinks. Separately, he paid at least $2 million a year to the city in rent in 2015 and 2016. The Total Investment & Insurance Solutions

Trump has yet to report his expenses for 2015 and 2016. But if past experience is a guide, it would appear that he spends about $6.5 million annually on the two rinks.

The financial disclosure form Trump filed covers the period from January 2015 to May 2016. In those months, he disclosed an income of $12.9 million for the two rinks, roughly the same amount as our estimate of his expenses for that period.

We estimated that his expenses for those months were above $12 million, given that most of the skating business takes place in the winter months.

This left Trump with a profit, by our estimate, of several hundred thousand dollars. That's in line with Trump's predictions to New York City, which is that he expected to make a profit, after taxes, of less than $500,000 annually. The Total Investment & Insurance Solutions

We found a similar pattern when we looked at the golf course.

There, the Trump Organization projected expenses of more than $4 million a year in 2015 and 2016, including spending on salaries, the pro shop, marketing and maintenance of the greens.

According to city records, the golf course's total receipts for 2015 and first five months of 2016 were $8.1 million. That's roughly what Trump reported as income ($7.9 million) on the federal disclosure forms for that period. The Total Investment & Insurance Solutions

Projecting conservatively, we estimated that Trump spent at least $5 million on expenses in those months — $4 million for the previous year and at least $1 million from January to May, leaving him, at most, a profit of $3 million. The Total Investment & Insurance Solutions

Trump took over operations of Wollman Rink and the smaller Central Park ice rink in 1986 after they had fallen into disrepair. He signed another contract with the Department of Parks and Recreation in November 2001 to manage the rinks for another 10 years and later extended it to last until 2021. The Total Investment & Insurance Solutions

In extending its contract with Trump, city officials described the Trump Organization as an "exemplary concessionaire" and noted that, with the low profit margins at the ice skating rinks, it had "no other viable options" to manage it. The rink has a decidedly Trumpian quality; nearly everything at the rink is emblazoned with the Trump name, from the rental skates and water to the Zamboni. The Total Investment & Insurance Solutions

In 2012, the Trump Organization also signed a 20-year contract to operate the 192-acre golf course in the Bronx. The course is on the site of a former garbage dump redeveloped by the city at a cost of more than $200 million. Trump agreed to fund various improvements and start sharing revenues with the city in 2020; a weekend game of golf costs $172, triple that of other municipal golf courses. The Total Investment & Insurance Solutions

"Generally speaking, golf is a shrinking sport but the city made a promise to the community and that's what they wanted," said Adrian Benepe, who was the city's parks commissioner under former Mayor Michael Bloomberg from 2002 to 2012 and who negotiated the Bronx golf course contract. "We kind of felt lucky, given the sport's declining popularity and that this site was a long-festering wound, an exposed garbage dump."

Despite pledging to distance himself from his business empire, Trump is still listed as the ultimate owner of the two New York City contracts. To transfer ownership of the contracts, the Trump Organization has to get the written approval of New York City Parks Commissioner Mitchell J. Silver. The Total Investment & Insurance Solutions

Any changes in management and operation of the rinks need approval from the commissioner. "Failure to comply with this provision shall cause the immediate termination of this License," the contracts read. The Total Investment & Insurance Solutions

The Trump Organization has yet to make those changes, city officials said. In response to questions from ProPublica about the management changeover, the Parks and Recreation Department said it is trying to get more information.

In January, Trump said that he would distance himself from his business empire by creating a trust that would oversee his companies. But the trust, run by his eldest son, Donald Trump Jr., and a longtime employee, ultimately benefits the president, D.C. licensing documents obtained by ProPublica show.The Total Investment & Insurance Solutions

Internet now has nearly 330 mn domain name registrations-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

Nearly 2.3 million domain name registrations were added to the internet in the fourth quarter of 2016, bringing the total number of domain name registrations to 329.3 million, a new report revealed on Wednesday. The Total Investment & Insurance Solutions

According to VeriSign, a global leader in domain names and internet security, the total number of domain name registrations are across all top-level domains (TLDs), as of December 31 last year. The Total Investment & Insurance Solutions

"The increase of approximately 2.3 million domain name registrations globally equates to a growth rate of 1.8 percent over the third quarter of 2016. Domain name registrations have grown by 21 million, or 6.8 percent, year over year," the report titled 'Domain Name Industry Brief' said. The Total Investment & Insurance Solutions

The .com and .net TLDs had a combined total of approximately 142.2 million domain name registrations in the domain name base in the fourth quarter of 2016. This represents a 1.7 percent increase year over year. The Total Investment & Insurance Solutions

"As of December 31, the .com domain name base equaled 126.9 million domain name registrations, while the .net domain name base equaled 15.3 million domain name registrations," the report added. The Total Investment & Insurance Solutions

New .com and .net domain name registrations totaled 8.8 million during the fourth quarter of 2016. In the fourth quarter of 2015, new .com and .net domain name registrations totaled 12.2 million. The Total Investment & Insurance Solutions

During the fourth quarter of 2016, Verisign's average daily Domain Name System (DNS) query load was approximately 143 billion queries per day across all TLDs operated by Verisign, with a peak of nearly 398 billion queries. The Total Investment & Insurance Solutions

US Consumer Spending Up Slightly, Inflation At 4-Year High-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

1 March 2017

U.S. consumer (The Total Investment & Insurance Solutions)

U.S. consumer spending rose at only a sluggish pace in January, even as signs of growing optimism about the economy have emerged. The Total Investment & Insurance Solutions

Consumer spending increased 0.2 percent in January, after a 0.5 percent gain in December, the Commerce Department said Wednesday. Spending on services — from haircuts to health care — was flat, and Americans spent less on long-lasting goods such as autos and appliances.

Prices also rose in a sign that inflation has perked up a bit. A measure of inflation closely watched by the Federal Reserve rose 0.4 percent in January and has increased 1.9 percent in the past 12 months. That's the biggest year-over-year gain in more than four years.

That nearly matches the Fed's target of 2 percent and may make a rate hike by the Fed more likely in the coming months. The Total Investment & Insurance Solutions

Excluding the volatile food and energy categories, core prices rose 0.3 percent in January and 1.7 percent in the past 12 months.

Surveys of consumers have shown a burst of optimism since the presidential election, yet that has only intermittently translated into more spending. The Conference Board's consumer confidence index jumped to a 15-year high in February after a modest dip in the previous month.

Measures of consumer health are important for growth because consumer spending drives about 70 percent of economic activity. The Total Investment & Insurance Solutions

Income growth accelerated slightly in January, the data showed, rising 0.4 percent. That was slightly better than the previous two months. The Total Investment & Insurance Solutions

Yet rising inflation is offsetting some of that gain and may slow spending in the coming months. Adjusted for taxes and price increases, Americans' incomes actually slipped 0.2 percent in January, the largest decline in more than three years

Wednesday's figures suggest that the economy is still growing at a modest pace. Growth was just 1.9 percent at an annual pace in the final three months of last year, the government said Tuesday. That was sharply lower than the 3.5 percent increase in the third quarter. The Total Investment & Insurance Solutions