Debt Mutual Funds are better alternative investment than Bank FD -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in

https://www.facebook.com/moneymakingmc

26^Th May  2018

RRSF DebtThe Total Investment & Insurance Solutions)

Nifty, Sensex May Try to Head Higher – Weekly closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

25 May 2018

I had mentioned in last week’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets were volatile through the week and closed on Friday with marginal weekly gains over 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

The major indices of the Indian stock markets suffered a correction on Monday and closed with losses over Friday’s close. On the NSE, there were 367 advances, 1,384 declines and 308 unchanged. The Total Investment & Insurance Solutions

Formation of a non-BJP government in Karnataka, along with weakness in global indices and rising crude oil prices, pulled the key Indian equity indices to close in the negative territory for the fifth consecutive session on Monday.

Moody's Investors Service has downgraded the local and foreign currency deposit rating of multi-crore fraud hit Punjab National Bank (PNB) to Ba1/NP from Baa3/P-3, a statement said here on Monday. At the same time, Moody's has downgraded the bank's baseline credit assessment (BCA) and Adjusted BCA to b1 from ba3. The Total Investment & Insurance Solutions

Even though oil is now considered less of an independent driver of business cycles than before, the State Bank of India (SBI) on Monday said the recent surge in crude oil prices is likely to impact the country's imports and stretch the ongoing fiscal's current account deficit (CAD) to 2.5% of GDP. Spiralling petrol prices touched fresh record levels in Delhi and Mumbai on Monday, at Rs76.57 and Rs84.40 per litre respectively. The Total Investment & Insurance Solutions

Amid volatility in earlier trading sessions, the key Indian equity indices traded marginally higher, on Tuesday, as there was value buying by investors. However, high crude oil prices and mixed cues from the Asian markets prevented further gains in the indices. On the NSE, there were 978 advances, 748 declines and 322 unchanged. The Total Investment & Insurance Solutions

Reflecting the continued pressure on state-run banks, SBI on Tuesday posted a loss of Rs7,718 crore for the fourth quarter ended March, the bank said in a stock exchange filing. The country's largest lender had recorded a profit after tax (PAT) of Rs2,815 crore in the corresponding quarter of the last fiscal. SBI's fourth quarter loss more than trebled over that of the previous quarter when the bank had incurred a loss of Rs2,416 crore.  The bank's accumulated problem of gross non-performing assets (NPAs), or bad loans, during the quarter in consideration at Rs2,23,427 crore, worsened at 10.91%, as compared to the 10.35% in the previous quarter, and a gross NPA level of 6.9% registered in the same quarter a year ago.  The net NPA ratio during the January-March quarter stood at 5.73%, which is a marginal rise over 5.61% on this count in the previous quarter. Net NPAs in the same quarter last year were at 3.71%.

Real estate major DLF reported a consolidated net profit of Rs244 crore for the fourth quarter (Q4) of 2017-18. "Revenues for Q4 FY18 stood at Rs1,846 crore. EBIDTA stood at Rs454 crore. Consolidated PAT was at Rs244 crore," the company said in a regulatory filing to the BSE. 

The major indices of the Indian stock markets suffered a sharp correction on Wednesday. On the NSE, there were 693 advances, 1,036 declines and 322 unchanged. The Total Investment & Insurance Solutions

Equity markets opened mixed in the morning following Asian indices, after the US markets closed in red following negative reactions by President Trump on the ongoing US-China talks, and sudden change in decisions of not having the peace talks with North Korean leader in Singapore. But persistent outflow of foreign funds along with weak global cues and depreciation in the rupee plunged the key Indian equity indices on Wednesday. The Total Investment & Insurance Solutions

Shares of Vedanta declined both on the BSE and NSE as protests against its Sterlite Copper project in Tamil Nadu took a violent turn and nine people died, including a girl, in police firing on Tuesday. The Madras High Court on Wednesday stayed the construction work at Vedanta Ltd's second copper smelter plant at Thoothukudi. Hearing a public interest petition (PIL) against the company's application for renewal of environmental clearance for the second copper smelter plant project, the Madurai Bench of the High Court ordered that the application be processed after mandatory public hearing.

The petrol price in India's financial capital Mumbai touched Rs84.99 a litre on Wednesday. Petrol prices in Mumbai, Delhi and Chennai have already reached unprecedented levels, and are now setting a new benchmark every other day. Higher inflation, higher interest rates and correction in stock markets are a natural fall-out, when oil prices are so high.

The major indices of the Indian stock markets rallied on Thursday and closed with gains over Wednesday’s close. IT (information technology), banking and Teck (technology, entertainment and media) stocks gained the most. However, selling pressure on auto, consumer durables and oil and gas stocks arrested further gains. On the NSE, there were 800 advances, 916 declines and 333 unchanged. The Total Investment & Insurance Solutions

Automobile major Tata Motors said that it has reduced its net loss to Rs499.94 crore during the fourth quarter of 2017-18. According to the automobile major, its standalone net loss during the quarter under review declined to Rs499.94 crore from Rs805.93 crore reported for the corresponding period of 2016-17. In terms of financial year, Tata Motors reported a standalone net loss of Rs1,034.85 crore from a net loss of Rs2,429.60 crore. On a consolidated basis, the automobile major reported a decline in its Q4 net profit to Rs2,176.16 crore from Rs4,336.43 crore. However, the company's consolidated net profit for 2017-18 increased to Rs9,091.36 crore from Rs7,555.56 crore for the previous fiscal. 

The major indices of the Indian stock markets rallied on Friday and closed with gains over Thursday’s close. On the NSE, there were 1,140 advances, 585 declines and 324 unchanged. Buying was seen in auto, oil and gas and IT (information technology) stocks. The Total Investment & Insurance Solutions

Petrol prices across the four metros increased by over Rs3 per litre in 12 days after dynamic pricing system was resumed on May 14, data on the Indian Oil Corp (IOC) website shows. In the national capital, petrol prices rose Rs3.20 per litre during the period and were sold at Rs77.83 per litre on Friday. The revision on a daily basis resumed after the prices remained stable for 19 days as IOC had suspended the dynamic pricing system till May 13. Prices of the key transportation fuel in the other major cities of Kolkata, Mumbai and Chennai were at Rs80.47, Rs85.65 and Rs80.80 a litre, up Rs3.15, Rs3.17 and Rs3.37 from the levels on May 13, according to the data on the IOC website.

The Enforcement Directorate (ED) filed a charge-sheet against fugitive diamond merchant Nirav Modi and 23 others, including his father, sister and brother-in-law, in the over Rs13,400 crore Punjab National Bank (PNB) scam. PNB shares closed at Rs83.60, up 1.83% on the NSE.The Total Investment & Insurance Solutions

Major Indices (The Total Investment & Insurance Solutions)

Indian economy strong, reforms on track: CII-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

25 May 2018

 

CII(The Total Investment & Insurance Solutions)

As the BJP-led NDA government completes four years in office, industry chamber CII today said India's economy is robust with GST system having settled down and reforms firmly on the right path. The Total Investment & Insurance Solutions 

The government is set to enter the final year of its term before the 2019 Lok Sabha Elections on May 26. The Total Investment & Insurance Solutions 

In a statement, CII Director General Chandrajit Banerjee said over the last four years, the government has systematically addressed major pain points for the economy such as ease of doing business, non-performing assets of banks, foreign direct investment rules, infrastructure construction and exit of failing enterprises. The Total Investment & Insurance Solutions

"The business atmosphere now incentivises investment activity and offers relief to firms. The government's mission mode development campaigns have delivered notable results, adding to overall growth multipliers," Banerjee said. 

"The overall economy is strong with GST having settled down and reforms firmly on the right path," he added. The Total Investment & Insurance Solutions 

Moreover, Banerjee said the firm level and sectoral level numbers look promising for the next year in terms of order booked and capacity utilization. The Total Investment & Insurance Solutions

Key WTO member countries to meet in Paris next month: Suresh Prabhu-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

25 May 2018

WTO (The Total Investment & Insurance Solutions)

Key World Trade Organization (WTO) member countries, including India, will meet in Paris next month to deliberate upon issues like increasing protectionist measures by certain developed nations. 

Commerce and Industry Minister Suresh Prabhu said global trade is facing one of the "toughest" times in the last forty years. 

"We feel that in the last 40 years, we are facing the biggest challenge for the global trade. So we want to make sure that institutions like the WTO survives. So I will be meeting important members of the WTO in Paris. I will tell them about our concerns," Prabhu told PTI. The Total Investment & Insurance Solutions 

He said the WTO chief too has called him to take up the important issues in that meeting. The Total Investment & Insurance Solutions

This informal discussion will take place on sidelines of the Organisation for Economic Cooperation and Development (OECD) ministerial council meeting in Paris in June. The Total Investment & Insurance Solutions

Prabhu will be visiting Paris in the first week of June. 

The issue of appointment of appellate members in the WTO's dispute settlement body is also likely to come up at the meeting. Further delay in these appointments would create crisis in the functioning of the dispute settlement mechanism. The Total Investment & Insurance Solutions 

The dispute settlement mechanism is an important arm of the WTO to resolve trade disputes among member nations. The appellate body is the apex institution to adjudicate disputes. 

This WTO meeting comes at a time when the world is facing trade war kind of situation following imposition of heavy duties on certain steel and aluminium products by the US. This move by the US evoked sharp reaction from both developed and developing countries of the Geneva-based organisation. The Total Investment & Insurance Solutions

Nitin Gadkari advocates bringing fuel under GST -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

25 May 2018

 

Nitin gadkari (The Total Investment & Insurance Solutions)

With petrol and diesel rates skyrocketing on a daily basis, Road Transport and Highways Minister Nitin Gadkari on Friday advocated bringing fuel under the GST to curb the price hike. The Total Investment & Insurance Solutions

"Petrol and diesel should have been brought under the Goods and Services Tax. I asked officials during a presentation if we bring fuel prices under GST will it benefit the states or not. The Total Investment & Insurance Solutions

"They said 'yes', they will benefit," Gadkari said at a news conclave here on the four years of Prime Minister Narendra Modi's government. 

He said, however, the states were wary of losing revenue on account of taxes they collect from fuel prices and liquor.

"It will be good if fuel prices are brought under GST. This will not only reduce the fuel prices but will also increase the government's revenue." 

He, however, said it was his personal opinion, and the ultimate decision regarding this remained with the Petroleum Ministry. 

The Minister said fuel prices were surging because of international crude oil rate. 

"Earlier, we were giving subsidy on the import (of fuels). When the rates came down, the subsidy was removed. We are part of a global economy...The price of petrol and diesel are increasing due to rise of their price in international rates." 

He said the money that was saved from removing subsidy on fuel allowed the government to give free Liquid Petroleum Gas (LPG) connections to eight crore families across India. Total Investment & Insurance Solutions

World Stocks Mixed As NKorea's Restraint Eases Concerns-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

25 May 2018

Hong kong financial markets (The Total Investment & Insurance Solutions)

World stock markets were mixed Friday after North Korea issued a surprisingly restrained response to U.S. President Donald Trump's abrupt decision to cancel a planned summit. The Total Investment & Insurance Solutions

KEEPING SCORE: European shares rose in early trading. Germany's DAX rose 0.9 percent to 12,973.47 and France's CAC 40 added 0.5 percent to 5,577.16. Britain's FTSE 100 climbed 0.4 percent to 7,745.00. Wall Street was poised to open higher. Dow futures added 0.3 percent to 24,865.00 and broader S&P 500 futures were up 0.2 percent to 2,732.90.

ASIAN SCORECARD: Japan's benchmark Nikkei 225 index rose 0.1 percent to close at 22,450.79 but South Korea's Kospi lost 0.2 percent to 2,460.80. Hong Kong's Hang Seng shed 0.6 percent to 30,588.04 and the Shanghai Composite in mainland China slipped 0.4 percent to 3,141.30. Australia's S&P/ASX 200 dipped 0.1 percent to 6,032.80. Taiwan's benchmark rose and Southeast Asian indexes were mostly lower. The Total Investment & Insurance Solutions

SUMMIT SCRUBBED: Trump cancelled a June meeting with North Korean leader Kim Jong Un, blaming it on "tremendous anger and open hostility" that was expressed in a statement by a North Korean official. Trump later said the meeting could still happen. North Korea said it's still willing to sit down for talks with the U.S. "at any time, at any format," a remarkably restrained and diplomatic response that contrasts with Pyongyang's traditional belligerence.

QUOTEWORTHY: "The reality of the situation is starting to dawn on markets that this is political theater engineered for domestic consumption. The reality is it doesn't change the economic outlook at all," said Michael McCarthy, chief strategist at CMC Markets in Sydney. He added that the more likely explanation is that investors are using it as an excuse to pull back after a strong run in the markets. The Total Investment & Insurance Solutions

CHINA-US TRADE: U.S. Commerce Secretary Wilbur Ross is due to arrive in Beijing on Saturday for more talks on the dispute between China and the U.S. over trade and technology policy. China's official Xinhua News Agency said the two sides will "continue negotiations on Chinese-U.S. economic and trade issues" until Monday. Last week China promised to buy more U.S. goods but the two sides made scant progress on a final settlement.

WEEK AHEAD: Investors are anticipating the latest batch of economic data for the U.S. and China due out next week, including a private payroll report and GDP numbers for the U.S. on Wednesday and China's official monthly manufacturing index for Thursday. The numbers will give fresh insight into the state of the world's two largest economies. The Total Investment & Insurance Solutions

SAMSONITE SLUMP: The luggage maker's shares tumbled for a second day in Hong Kong trading after short-seller Blue Orca Capital issued a report questioning its accounting and its CEO's credentials. Samsonite said in a statement that the conclusions were incorrect. Its shares fell 12 percent after sliding 9 percent on Thursday. Short-sellers profit when a company's shares fall.

ENERGY: Oil futures extended losses. Benchmark U.S. crude fell 54 cents to $70.17 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1.6 percent to settle at $70.71 per barrel on Thursday. Brent crude, used to price international oils, fell 89 cents to $77.90 in London.

CURRENCIES: The dollar rose to 109.54 yen from 109.25 yen in late trading Thursday. The euro rose to $1.1723 from $1.1720.The Total Investment & Insurance Solutions

Nifty, Sensex May Rise If They Trade above Today’s Close – Thursday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

24 May 2018

I had mentioned in Wednesday’s closing report that Nifty, Sensex have turned weaker still, but a bounce is likelier. The major indices of the Indian stock markets rallied on Thursday and closed with gains over Wednesday’s close. IT (information technology), banking and Teck (technology, entertainment and media) stocks gained the most. However, selling pressure on auto, consumer durables and oil and gas stocks arrested further gains. On the NSE, there were 800 advances, 916 declines and 333 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions

Automobile major Tata Motors said that it has reduced its net loss to Rs499.94 crore during the fourth quarter of 2017-18. According to the automobile major, its standalone net loss during the quarter under review declined to Rs499.94 crore from Rs805.93 crore reported for the corresponding period of 2016-17. In terms of financial year, Tata Motors reported a standalone net loss of Rs1,034.85 crore from a net loss of Rs2,429.60 crore. Natarajan Chandrasekaran, Chairman Tata Sons commented: "In the domestic business, the 'Turnaround' results are clearly visible. We gained market share in both CV and PV with strong improvement in profitability and positive cash flows." "With 'Turnaround 2.0' we will accelerate our efforts to 'Win Decisively' in CV, 'Win Sustainably' in PV and embed the turnaround culture in the company. With these focused efforts, I am confident that Tata Motors Group shall deliver Competitive, Consistent and Cash Accretive Growth in the coming years". On a consolidated basis, the automobile major reported a decline in its Q4 net profit to Rs2,176.16 crore from Rs4,336.43 crore. However, the company's consolidated net profit for 2017-18 increased to Rs9,091.36 crore from Rs7,555.56 crore for the previous fiscal. Besides, the company reported that for the fiscal year 2018, its subsidiary Jaguar Land Rover's retail sales grew 1.7% year-on-year to 614,309 cars due to healthy demand in China, North America and in overseas markets. JLR's revenues increased by 6 per cent to £25.8 billion, while pre-tax profits were £1.5 billion including a one-off £437 million pension credit reported in the first quarter partially offset by engineering charges in Q4 '18. Tata Motors shares closed at Rs289.85, down 6.33% on the NSE. The Total Investment & Insurance Solutions

Tamil Nadu Chief Minister K. Palaniswami said on Thursday that his government was taking all steps to close the Sterlite factory at Thoothukudi after 13 people were killed in protests against it. Palaniswami told the media that the AIADMK government was taking the legal route to ensure that the Sterlite Copper Smelter plant was shut down.  He said people in the region had been protesting peacefully for long against the company, alleging that it was causing health hazards and depleting the water table, but this time the opposition and "anti-social elements" had turned the movement violent.  "It is because of this instigation that so many people have died. And we are really saddened by the deaths," he said. He added that in April Sterlite approached the Tamil Nadu Pollution Control Board to continue running the factory but the permission was denied. But the management got a favourable order from the National Green Tribunal. The Tamil Nadu government had moved the Supreme Court against the NGT ruling. Vedanta shares closed at Rs251.00, down 0.65% on the NSE.

Airline major Jet Airways reported a standalaone net loss of Rs1,036 crore for the fourth quarter of 2017-18. According to the airline, its standalone net loss during the quarter under review stood at Rs1,036 crore from a net profit of Rs602.42 crore reported for the corresponding period of 2016-17. In terms of financial year, Jet Airways reported a standalone net loss of Rs767.62 crore from a net profit of Rs1,482.52 crore reported for the previous fiscal. On a consolidated basis, the automobile major reported a net loss of Rs636.45 crore in 2017-18 from a net profit of Rs1,498.68 crore in 2016-17. Jet Airways shares closed at Rs392.95, down 6.68% on NSE. The Total Investment & Insurance Solutions

Budget passenger carrier SpiceJet said it will launch 10 new flight services across south India region from May 25 to June 16. According to the airline, it will deploy its Bombardier Q-400 aircraft on these new routes. SpiceJet plans to enhance its operations on the Hyderabad-Rajahmundry, Chennai-Kozhikode, Bengaluru-Kozhikode routes with an additional evening flight on each of these sectors and introduce its third flight on the Chennai-Hyderabad route. "SpiceJet is on the path of a major fleet expansion which means new routes and destinations for our customers," said Shilpa Bhatia, Chief Sales and Revenue Officer, SpiceJet.  "We have introduced evening flights on key sectors which will operate in addition to the existing morning flights and help business travellers conveniently plan same day trips." SpiceJet shares closed at Rs97.05, down 5.55% on the NSE. The Total Investment & Insurance Solutions

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 Solutions

Major Indices (The Total Investment & Insurance Solutions)

Govt may levy windfall tax on ONGC, others to soften petrol, diesel prices-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

24 May 2018

windfall tax (The Total Investment & Insurance Solutions)

The government may levy a windfall tax on oil producers like Oil and Natural Gas Corp. Ltd (ONGC) as part of a permanent solution it is working on for moderating the spiralling retail prices of petrol and diesel.

The tax, which may come in form of a cess, will kick in the moment oil prices cross $70 per barrel, sources privy to the development said.

At 2.26pm, ONGC shares were trading 8.26% lower at Rs161.05, while Oil India Ltd fell 9.78% to Rs208. The Total Investment & Insurance Solutions

Under the scheme, oil producers, who get paid international rates for the oil they produce from domestic fields, would have to part with any revenue they earn from prices crossing $70 per barrel mark.

The revenues so collected would be used to pay fuel retailers so that they absorb spikes beyond the threshold levels, they said. This may be accompanied by a minor tinkering with excise duty rates to give immediate relief to consumers.

States too would be asked to cut sales tax or VAT to show a visible impact on retail prices. The Total Investment & Insurance Solutions

Sources said the thinking in the government is to levy cess on all oil producers—both public and private sector—so as not to attract criticism of stifling state-owned explorers. A similar tax was considered in 2008 when oil prices were on the rise but the idea was dropped after stiff opposition from private sector firms like Cairn India. The Total Investment & Insurance Solutions

Windfall tax, they said, is levied in some of the developed countries globally. The UK in 2011 raised the tax rate to be applied to North Sea oil and gas profits when the price is above $75 per barrel. China on 1 April 2006 began levying the special upstream profit tax on domestic oil producers to redistribute and allocate the windfall income enjoyed by the oil companies and subsidise disadvantaged industry and social groups that are most affected by soaring crude oil prices. It in 2012 raised the windfall tax threshold to $55 per barrel.

Sources said the windfall tax is one of the options being considered by the government as a permanent solution to dealing with the problem of spike in oil prices. This follows reluctance on part of the finance ministry to cut excise duty as it has to ensure adequate funds are available to social welfare schemes in the election year. The Total Investment & Insurance Solutions

In particular, resources have to be arranged for the National Health Protection Scheme (NHPS) that aims to provide health insurance cover of Rs5 lakh to every eligible household. The Total Investment & Insurance Solutions

Yesterday, law minister Ravi Shankar Prasad had stated that the government will take a long-term view on the retail prices of petrol and diesel, which have touched record high, instead of having an ad hoc measure.

Petrol and diesel prices were raised for the 11th day in succession today as the state-owned oil firms gradually passed on to the consumer the increased cost of international oil that had accumulated since a 19-day freeze was imposed just before Karnataka elections. The Total Investment & Insurance Solutions

Since the time the hiatus ended on 14 May, rates have gone up by Rs2.84 a litre in case of petrol and Rs2.60 in diesel. Petrol costs Rs77.47 a litre in Delhi and diesel Rs68.53. The Total Investment & Insurance Solutions

Sources said a $70 per barrel threshold for the windfall tax is sufficient to cover for capital expenditure requirement of ONGC and other oil producers. Incidentally, ONGC and OIL had till June 2015 provided for up to 40% of the annual fuel subsidy bill, which they did by way of providing discounts on crude sold to downstream refining and marketing companies, IOC, BPCL, and HPCL. This discount helped the retailers make good a part of the losses they incurred on selling petrol and diesel below cost.

The government raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs2 a litre.

The Centre levies Rs19.48 as excise duty on a litre of petrol and Rs15.33 on diesel. State sales tax or VAT varies from state to state. Unlike excise duty, VAT is ad valorem and results in higher revenues for the state when rates move up.The Total Investment & Insurance Solutions