HDFC Housing Opportunities Fund Series 1 is an opportunity for capital appreciation over 1140 days - Regular Plan-The Total Investment & Insurance Solutions

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18^Th November  2017

HDFC NFO(The Total Investment & Insurance Solutions)

Nifty, Sensex Still Trendless on a Weekly Basis – Weekly closing report-The Total Investment & Insurance Solutions

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17 November  2017

I had mentioned in last week’s closing report that Nifty, Sensex were still trendless. The major indices of the Indian stock markets showed a lot of volatility during the week and ended flat on Friday compared with last Friday’s close. The trends of the major indices in the course of the week’s trading are given in the table below: The Total Investment & Insurance Solutions

 

Weekly Indices (The Total Investment & Insurance Solutions)

Broadly negative Asian markets, coupled with profit booking in capital goods, oil and gas and consumer durables stocks, pulled the key Indian equity indices lower to trade in the red on Monday. According to market observers, domestic macro-industrial output data point released on Friday and selling in index heavyweights like Coal India, ONGC, HDFC, Larsen and Toubro (L&T) and Tata Steel, among others, eroded investors' risk taking appetite. On the NSE, there were 623 advances, 1,060 declines and 303 unchanged.

Coal India Ltd (CIL) reported close to a 40% fall in its consolidated net profit to Rs368.88 crore in the quarter ended September 30, 2017 as compared to Rs612.44 crore in the corresponding quarter last fiscal. Its net revenue from operations for the quarter stood at Rs18,148.31 crore, up 4.19% from Rs17,418.43 crore in the year-ago period. The miner produced 113.04 million tonnes (mt) of coal in the July-September quarter of the current fiscal, as against 104.37 mt in the year-ago period. CIL's off-take stood at 131.58 mt in the quarter ended September 30, 2017, as compared to 115.87 mt in the same period last financial year, it said in a BSE filing. The Total Investment & Insurance Solutions

Negative global cues, along with disappointing macro-inflation data points and rising crude oil prices subdued the key Indian equity indices on Tuesday. According to market observers, selling pressure was witnessed in capital goods, oil and gas, banking and IT (information technology) stocks. On the NSE, there were 667 advances, 1,013 declines and 301 unchanged.

Geo-political tensions in the Middle East, negative Asian and European markets and disappointing WPI (wholesale price index) data subdued the key domestic indices, observed market analysts. India's annual rate of inflation based on wholesale prices went up in October to 3.59%, official data showed here on Tuesday. The Total Investment & Insurance Solutions

State-run United Bank of India (UBI) reported a net loss of Rs344.83 crore for the second quarter ended September 30 against a net profit of Rs43.53 crore for the corresponding period a year ago. Its operating profit fell to Rs286 crore in the quarter under review, as against Rs436.59 crore in the corresponding period last year. The lender had posted a net loss of Rs211.46 crore for the first quarter of the current fiscal. The bank's asset quality deteriorated further in the September quarter of the current fiscal. Gross non-performing assets (NPAs) in absolute terms rose 15.8% year-on-year at Rs12,892.67 crore during the period under review. The bank's gross NPA as a percentage of total loans rose to 18.80% in the September quarter of this fiscal from 16.26% during the same period in the previous fiscal. Net interest income (NII) remained flat at Rs376.26 crore compared with Rs376.40 crore in the corresponding period of last fiscal, according to a stock exchange filing. The Total Investment & Insurance Solutions

Negative Asian indices, along with disappointing domestic macro-data and selling pressure in metal, consumer durables and FMCG (fast moving consumer goods) stocks, pulled the key Indian equity indices lower on Wednesday. Index heavyweights like ONGC, Sun Pharma, ITC and Tata Steel were amongst the prominent losers on the BSE. On the NSE, there were 393 advances, 1,311 declines and 277 unchanged. The Total Investment & Insurance Solutions

State-run gas transmission utility GAIL India (GAIL) posted a 41.6% rise in net profit for the second quarter ending September at Rs1,309.63 crore, boosted by handsome earnings from its gas transportation and marketing business. GAIL's net profit for the same quarter last year was Rs924.65 crore. It earned a pre-tax profit of Rs853.48 crore from gas transmission business during the second quarter, as compared with Rs660.74 crore in the same quarter last year. 

Snapping a three-day losing streak, key Indian equity indices on Thursday traded in the green, with the BSE Sensex surging almost 300 points. According to market observers, buying in banking, automobile and IT (information technology) stocks pushed the equity indices higher despite weak Asian cues. On the NSE, there were 964 advances, 421 declines and 43 unchanged.

India's rural fast moving consumer goods (FMCG) market is expected to grow at a compounded annual growth rate of 14.6% and reach $220 billion by 2025, a joint study said on Wednesday. This is because of rural population using e-commerce and digital connectivity services due to high penetration of smartphones, credit and debit cards, and online banking. In the light of this, making their products available to customers sitting in far and wide corners of the country waiting to be serviced was the next big challenge before large FMCG companies, the study said. According to the study, jointly published by MRRSIndia.com and Assocham, India's FMCG market is expected to reach $103.7 billion by 2020 from the current level of $49 billion, while the retail market is likely to reach $1.1 trillion from the current $680 billion. The Total Investment & Insurance Solutions

A sovereign ratings upgrade from US credit rating agency Moody's on Friday lifted the key Indian equity indices to their new intra-day record highs. The two indices -- S&P BSE Sensex and NSE Nifty50 -- gained over 300 points each after the ratings upgrade. Even during the mid-afternoon trade session, both the indices maintained their upward trajectory supported by broadly positive Asian markets and uptake in bank, metal and consumer durable's counters. But the major indices failed to sustain their over 1% gains. At the time of close of trading, the major indices closed with gains of around 0.70% over Thursday’s close. On the NSE, there were 1,050 advances, 641 declines and 292 unchanged.

US credit rating agency Moody's on Friday upgraded India's sovereign rating to Baa2 from its lowest investment grade of Baa, while changing the outlook for the country's rating to stable from positive, and said it was based on the Indian government's "wide-ranging programme of economic and institutional reforms". The rating agency simultaneously upgraded India's local and foreign currency issuer rating to Baa2 from Baa3. "The decision to upgrade the ratings is underpinned by Moody's expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term," a Moody's Investor Service release said.

Govt welcomes Moody's rating upgrade move, says investment revival is on priority list-The Total Investment & Insurance Solutions

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17 November  2017

PM Modi (The Total Investment & Insurance Solutions) 

The Central government on Friday welcomed the rating upgrade move by Moody's saying it was long overdue. The Total Investment & Insurance Solutions

Chief Economic Adviser Arvind Subramanian said that the government will do what it has to do on domestic front, jobs growth and investment revival.

Moody`s Investor Services today lifted the Government of India`s local and foreign currency debt ratings to Baa2 from Baa3.

The rating agency said that the reforms will improve the business climate in the country and raise productivity. The Total Investment & Insurance Solutions

Moody`s also changed its rating outlook to stable from positive, saying that at the Baa2 level the risks to India`s credit profile were broadly balanced. 

Moody`s said the recently-introduced goods and services tax (GST), a landmark reform that turned India`s 29 states into a single customs union for the first time, will promote productivity by removing barriers to interstate trade.

"In the meantime, while India`s high debt burden remains a constraint on the country`s credit profile, Moody`s believes that the reforms put in place have reduced the risk of a sharp increase in debt, even in potential downside scenarios," the ratings agency said in a statement.

Moody`s expects India`s real GDP growth to moderate to 6.7 percent in the fiscal year ending in March 2018 from 7.1 percent a year earlier. 

Moody`s also raised India`s local currency senior unsecured debt rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.

The government of Prime Minister Narendra Modi eased tax requirements last month for small- and medium-sized companies in response to growing criticism of its economic stewardship.The Total Investment & Insurance Solutions

Exporters can now file GST refund claim manually: CBEC-The Total Investment & Insurance Solutions

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17 November  2017

 

GST (The Total Investment & Insurance Solutions) 

Exporters can now manually file claims for GST refunds before tax officers owing to the specific modules not being available online, as per latest orders of the Central Board of Excise and Customs (CBEC).

Services exporters who have paid Integrated GST (IGST) and those making zero rated supplies to Special Economic Zone (SEZ) units, as well as merchant exporters seeking claim refunds for input credit, can now approach their jurisdictional commissioner with their refund form, the CBEC said in a circular.

"Due to the non-availability of the refund module on the common portal, it has been decided by the competent authority ... that the applications/documents/forms pertaining to refund claims on account of zero-rated supplies shall be filed and processed manually till further orders," it said. 

Businesses making zero-rated supplies or those who have paid IGST on exports, or want to claim input credit, would need to print out Form RFD-01A and approach the Chief Commissioner of Central Tax and the Commissioner of State Tax for refund claim, it added. The Total Investment & Insurance Solutions

The provisional refund would be sanctioned by the concerned tax officer within 7 days. The Total Investment & Insurance Solutions

In October, the CBEC had started refunds for merchandise exporters who had paid IGST and claimed refund based on shipping bill by submitting Table 6A.The Total Investment & Insurance Solutions

Anti-Corruption Campaign In Saudi Brings Hope To Businessmen-The Total Investment & Insurance Solutions

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17 November  2017

Lebanon Saudi Business (The Total Investment & Insurance Solutions)

 Lebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia's royal family and others in the kingdom are closely watching a new campaign led by the powerful crown prince targeting officials, princes and tycoons in the oil-rich kingdom, hoping it will help them win back what they lost over the years. The Total Investment & Insurance Solutions

The campaign, which Crown Prince Mohammed bin Salman says is aimed at cracking down on corruption in the kingdom, has been met with skepticism by many. With dozens of powerful princes, business leaders and government officials in custody, the move has provoked speculation the crackdown is more about consolidating power than curbing corruption. Others speculate the move amounts to a shake-down of wealthy players for their assets as the crown prince tries to implement sensitive economic reforms in the face of lower oil prices.

Either way, many in the kingdom welcome efforts to fight rampant corruption and abuse of power, and many outside it hope the move will encourage people to invest in the kingdom without fear. The Total Investment & Insurance Solutions

Since the first week of November, some 201 people have been taken into custody by Saudi authorities in a sweep that investigators say has uncovered at least $100 billion in corruption. The detainees include Cabinet ministers, members of the royal family and the owners of three TV networks that are among the largest in the Middle East. The Total Investment & Insurance Solutions

The crackdown that began on Nov. 4 initially targeted 11 princes, 38 officials, military officers as well as business leaders. An estimated 1,700 individual bank accounts have been frozen. The Total Investment & Insurance Solutions

Saudi critics and experts have called the unprecedented purge of top princes and businessmen by the crown prince, also known by his initials MBS, a bold and risky move aimed at consolidating power as he keeps an eye on the throne, sidelining potential rivals and dismantling alliances built with other branches of the royal family. The Total Investment & Insurance Solutions

Pierre Daher, who founded the first private TV station in Lebanon in 1985 and turned it into one of the top media outlets in the Arab world, has been locked in court cases with detained Saudi Prince Alwaleed bin Talal, one of the world's richest men, since 2011. The prince, whose maternal grandfather Riad Solh was once Lebanon's prime minister and also holds Lebanese citizenship, has investments that include Twitter, Apple, Citigroup and the Four Seasons hotel chain and was once a significant shareholder in Rupert Murdoch's News Corporation, but sold much of those shares in 2015.

Their court battles are over Lebanon's leading LBC and the affiliated Production and Acquisition Company, widely known as PAC, which filed for liquidation in 2012. Some 400 PAC employees lost their jobs and are still waiting for Prince Alwaleed to compensate them. The Total Investment & Insurance Solutions

Prince Alwaleed and Daher, now chairman and CEO of LBC, were once allies when the prince pumped money into LBC TV before the two split over several issues and Daher was removed from his job as head of PAC. Prince Alwaleed ended up taking over the LBC SAT and PAC while Daher took LBC.

"The disgraceful behavior of Alwaleed by making the company (PAC) bankrupt fraudulently while it was not bankrupt and had assets. PAC was able to continue normally but he mechanically made up bankruptcy," said Daher in his LBC office in the posh town of Adma north of Beirut.

Several cases between the two are still ongoing in countries including Lebanon, Britain and the Cayman Islands. Daher says that he is suing Prince Alwaleed for more than $100 million and is optimistic he will win.

Lebanese media outlets reported this month that two Beirut hotels owned by Prince Alwaleed's Kingdom Holding are for sale. The Four Seasons and Mövenpick Hotel are among Beirut's most luxurious hotels and are located in two of the capital's most posh neighborhoods.

"If the hotels are not in the person's name, not in the name of the defendant himself in person, you cannot garnish them since they belong to a company," said Paul Morcos, legal expert and founder and owner of Justicia Consulting Law firm in Beirut. The Total Investment & Insurance Solutions

Morcos added that the prosecution that is done in Saudi Arabia does not directly affect a prosecution taking place in Lebanon.

Attempts to reach a representative of Prince Alwaleed at Kingdom Holding were not immediately successful. The Total Investment & Insurance Solutions

Another person who lost millions of dollars in the kingdom as a result of alleged corruption is Lebanon-based U.S. citizen Yahya Lotfi Khader who for more than 20 years ran petrochemical businesses along with his two partners in eastern Saudi Arabia. The Total Investment & Insurance Solutions

The Syria-born, 57-year-old businessman said he left the kingdom two years ago after he became the victim of interference by officials who worked in the office of a once powerful prince, Saoud bin Nayef, the brother of the former crown prince who was removed from his post earlier this year. Khader put forward documents that proves they have lost tens of millions of dollars in cases that he says were manipulated by powerful people in the kingdom.

"There is widespread corruption from princes to ministers to judges to lawyers to businessmen," Khader said, speaking in his posh apartment overlooking the Mediterranean Sea in the north Beirut suburb of Dbayeh. "Regrettably there are people who are taking advantage of the wealth and powers of the kingdom and are taking it in the wrong direction." The Total Investment & Insurance Solutions

Khader added that the first step by MBS is to fight corruption and people in the kingdom have been waiting for an "awakening against corruption." Khader said "Saudi Arabia has all the capabilities to become one of the most important countries in the world If we can fight corruption and it will not be an easy mission but we are very optimistic about what happened."

Khader has sent documents listing all the injustice they were subjected to in the kingdom to the office of King Salman and MBS hoping that it could help them return to the kingdom and get back their money that are worth tens of millions of dollars. The Total Investment & Insurance Solutions

"What is happening in Saudi Arabia is a game changer. It is turning the country on the political, economic, social and religious levels," said Daher of LBC.

He added: "Today there is a new Saudi Arabia that is totally different from what it used to be but it is still early to judge it."The Total Investment & Insurance Solutions

World Stocks Mixed As Global Market Rally Loses Momentum-The Total Investment & Insurance Solutions

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17 November  2017

Wall Street financial markets (The Total Investment & Insurance Solutions)

Asian shares were mostly higher but European shares fell Friday as healthy U.S. earnings and progress on President Donald Trump's tax reform plan weren't enough to sustain momentum in global markets.

KEEPING SCORE: European shares were mostly lower in early trading. France's CAC 40 shed 0.2 percent to 5,324.13 and Britain's FTSE 100 lost 0.4 percent to 7,361.14. Germany's DAX slipped 0.1 percent to 13,040.40. Wall Street was poised to open lower. Dow futures dipped 0.1 percent to 23,410.00 and broader S&P 500 futures lost 0.1 percent to 2,581.30.

ASIA'S DAY: Japan's benchmark Nikkei 225 rose 0.2 percent to end at 22,396.80 while South Korea's Kospi ended nearly flat at 2,533.99. Hong Kong's Hang Seng index gained 0.6 percent to 29,199.04 but the Shanghai Composite index lost 0.5 percent to 3,382.91. Australia's S&P/ASX 200 rose 0.2 percent to 5,957.30 and share benchmarks in Southeast Asia were mostly higher.

U.S. TAXES: Trump's overhaul for corporate and personal taxes made some progress as U.S. House Republicans voted to pass the $1.5 trillion package, but it still faces many more steps. The Senate still has to approve its own, different version. One big feature of both versions is that they would slash the 35 percent corporate tax rate to 20 percent, which would boost companies' bottom lines.

THE TAKE: "Progress on U.S. tax reform continues, but there is a way to go yet," said Shane Oliver, head of investment strategy at AMP Capital, who estimated there's a 70 percent chance it will be passed by March. "At the very least this will provide a big boost to high tax-paying US companies, investors in which look to have given up on tax reform/cuts." The Total Investment & Insurance Solutions

EARNINGS ROUNDUP: Strong third-quarter earnings reports from big U.S. companies helped lift investor sentiment. Retailers Wal-Mart Stores and Gap and network equipment maker Cisco Systems beat analyst expectations with their earnings results. The Total Investment & Insurance Solutions

WEEK AHEAD: Investors are now looking ahead for potentially market moving economic data and other news on the horizon. U.S. monthly housing starts are due for release later Friday while next week there will be Fed meeting minutes and preliminary European and U.S. purchasing managers' indexes.

CURRENCIES: The dollar weakened to 112.52 yen from 113.03 yen on Thursday. The euro rose to $1.1793 from $1.1773.

ENERGY: Oil futures were mixed. Benchmark U.S. crude rose 35 cents to $55.49 a barrel in electronic trading on the New York Mercantile Exchange. The contract slipped 19 cents to settle at $55.14 a barrel on Thursday. Brent crude, used to price international oils, gained 11 cents to $61.47 a barrel in London.The Total Investment & Insurance Solutions

Nifty, Sensex Avert Further Decline – Thursday closing report-The Total Investment & Insurance Solutions

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16 November  2017

I had mentioned in Wednesday’s closing report that Nifty, Sensex were on a downtrend. The major indices of the Indian stock markets rallied on Thursday and closed with gains of around 1% over Wednesday’s close.

The trends of the major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions

 

Major Indices (The Total Investment & Insurance Solutions)

Snapping a three-day losing streak, key Indian equity indices on Thursday traded in the green, with the BSE Sensex surging almost 300 points during the mid-afternoon session. According to market observers, buying in banking, automobile and IT (information technology) stocks pushed the equity indices higher despite weak Asian cues. On the NSE, there were 964 advances, 421 declines and 43 unchanged. The Total Investment & Insurance Solutions

As many as 23 companies on the BSE are likely to report their September quarter results. Shares of non-banking financial companies were trading higher, pointed out market analysts.

The benchmark indices were trading higher even as Asian markets traded weak, after Wall Street stumbled despite upbeat US economic news. The treasury yield curve hit its flattest in a decade as investors priced in more US rate hikes, observed global market analysts. The Total Investment & Insurance Solutions

IT major Infosys on Thursday announced plan to train its employees in self-driving car engineering technology in partnership with online learning company Udacity. The programme, known as Udacity Connect, a combined in-person and online training offering, will give Infosys employees the skills needed as the company continues to focus on autonomous technology across a range of industries, including automotive, manufacturing and mining, the IT major said in a statement.  The 20-week curriculum will train Infosys employees on engineering technologies for self-driving vehicles, including advanced courses in deep learning and machine learning.  "The goal of this programme is to train 500 engineers by the end of 2018," Infosys said. Infosys shares closed at Rs989.95, up 4.01% on the NSE. The Total Investment & Insurance Solutions

India's rural fast moving consumer goods (FMCG) market is expected to grow at a compounded annual growth rate of 14.6% and reach $220 billion by 2025, a joint study said here on Wednesday. This is because of rural population using e-commerce and digital connectivity services due to high penetration of smartphones, credit and debit cards, and online banking. In the light of this, making their products available to customers sitting in far and wide corners of the country waiting to be serviced was the next big challenge before large FMCG companies, the study said. According to the study, jointly published by MRRSIndia.com and Assocham, India's FMCG market is expected to reach $103.7 billion by 2020 from the current level of $49 billion, while the retail market is likely to reach $1.1 trillion from the current $680 billion. "Retail and FMCG markets in India are exponentially growing and are expected to grow at 20% and 21% respectively per annum." Hindustan Unilever shares closed at Rs1,277.00, up 0.96% on the BSE. The Total Investment & Insurance Solutions

Global manufacturer Rolls-Royce plc tied up with Indian IT bellwether Tata Consultancy Services (TCS) to accelerate its digital transformation for adding value to its customers in diverse industry verticals. "As part of the tie-up, TCS will provide digital platform capability and enable us to capture, share and analyse data from our operations to develop new product and services for our global customers," Rolls-Royce Chief Digital Officer Neil Crockett told reporters here. TCS shares closed at Rs2,746.60, up 1.49% on the BSE.

Investments made by India Inc abroad declined by 49.05% in October to $1.35 billion from $2.65 billion in September 2017. According to data released by Reserve Bank of India (RBI) in its "Summary of Outward Foreign Direct Investment (OFDI) - October 2017" on November 13, the annual overseas investment in October declined by 57.81% on a year-on-year basis. The overseas investment stood at $3.20 billion in October 2016.

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)

PM Awas Yojna:Cabinet increases carpet area of MIG houses eligible for interest subsidy-The Total Investment & Insurance Solutions

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16 November  2017

Pradhan Mantri Awas Yojana (The Total Investment & Insurance Solutions) 

The Centre on Thursday approved the enhancement of the carpet area of houses for the middle income group (MIG) category under the Pradhan Mantri Awas Yojana- Urban (PMAY-U). The Total Investment & Insurance Solutions

Under the MIG-I category, the carpet area of the houses has been enhanced from 90 sq.Mtr to 120 sq.Mtr, while under the MIG-II segment, it has been increased to 150 sq.Mtr from the current 110 sq.Mtr, Union minister Ravi Shankar Prasad told reporters while briefing them about the Union cabinet decisions.

Under the MIG-I category, a four-per cent interest subsidy is provided to the beneficiaries, whose annual income is between Rs 6 lakh and Rs 12 lakh, on a loan of up to Rs 9 lakh. The Total Investment & Insurance Solutions

Similarly, under the MIG-II category, the beneficiaries with an annual income of Rs 12 lakh to Rs 18 lakh get an interest subsidy of three per cent on a loan of up to Rs 12 lakh. The Total Investment & Insurance Solutions

Under the PMAY-U, the Centre aims to provide houses to all the urban poor by 2022. Currently, the shortage of houses is pegged at over 10 million in the urban areas.The Total Investment & Insurance Solutions