Invest in the right mutual fund and watch your wealth grow -The Total Investment & Insurance Solutions

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16^th June  2018

ICICIPru MF(The Total Investment & Insurance Solutions)

Nifty, Sensex Ends the Week Flat-Weekly closing report-The Total Investment & Insurance Solutions

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15 June 2018

 

Major Indices (The Total Investment & Insurance Solutions)

On Friday, the key equity indices opened near previous day’s closing price and faced turbulence in the last few hours and ended flat. On the NSE, there were 665 advances, 1050 declines and 340 unchanged. The trends of the major indices in the course of the Friday’s trading are given in the table below:

Broadly weak global markets and the continuous outflow of foreign funds led the key Indian equity indices to provisionally close on a flattish note on Friday.The day's trade saw a "gap-up opening" in both the NSE Nifty50 and the S&P BSE Sensex. Heavy selling pressure in metal, banking and capital goods stocks eroded investors sentiments. However, a last hour buying spree in IT and healthcare counters helped the indices to close in the green. 

The major indices of the Indian stock markets were volatile on Monday and closed with minor gains. The State Bank of India (SBI), the country's largest public sector lender, recorded its highest non-performing asset (NPAs) of Rs1.1 lakh crore in 2017-18, almost equal to what it had registered in the decade before, according to information available through RTI and the bank's annual report. SBI shares closed at Rs273.60, up 0.22% on the NSE. Alembic Pharmaceuticals announced that it has received approval from the US health regulator for generic Fluoxetine Hydrochloride tablets used for the treatment of depression and panic disorder. The approval is for the generic version of Eli Lilly and Company’s Prozac tablets in the same strengths, Alembic Pharma said in a BSE filing today.  

On Tuesday, the major indices of the Indian stock markets gained by about 0.5% against the backdrop of the Kim-Trump meeting in Singapore. India's industrial output rose by 4.9% in April 2018 from a rise of 4.57% in March, official data showed on Tuesday. According to the data furnished by the Central Statistics Office (CSO), the corresponding growth during April 2017 stood at 3.2%."The General Index for the month of April 2018 stands at 123, which is 4.9% higher as compared to the level in the month of April 2017," CSO said in the "Quick estimates of index of Industrial Production. The cumulative growth for the period April-March 2017-18 over the corresponding period of the previous year stands at 4.3%." The combined push of food and fuel prices continued to drive up retail inflation in India in May towards the 5% mark, official data showed on Tuesday.

As per numbers furnished by the Central Statistics Office, the consumer price index (CPI) inflation in May stood at 4.87%, recording more than double the growth over the 2.18% recorded in May last year, and up from the 4.58% in April 2018. The Total Investment & Insurance Solutions

On Wednesday the major indices closed with minor gains. The Union Cabinet on Wednesday approved a Rs 24,000 crore foreign direct investment (FDI) as additional share capital into private sector HDFC Bank. After trending up for three days, the major indices opened lower on Thursday and closed with losses. On Thursday, the government reported a major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43%, to nearly double over the 2.26% registered in May last year and higher than the 3.18% recorded in April, 2018, Commerce Ministry. Lending major ICICI Bank on Wednesday said that its Board has approved the sale of up to 2% in the joint venture, ICICI Prudential Life Insurance, in one or more tranches. The bank, in a BSE filing, said that the sales can be carried out "in any manner permissible under applicable law, including through an 'offer for sale by promoters through stock exchange mechanism'".

Fitch Ratings on Friday, while affirming its long-term issuer default rating (IDRs) on Axis Bank to 'bbb-' has revised outlook on the lender to 'negative' from 'stable'. "The Negative Outlook on Axis's IDR reflects rising pressure on its standalone profile relative to banks with a Viability Rating of 'bbb-', stemming from heightened asset-quality stress and weak earnings. Its capital buffers are less comfortable for its current rating despite raising fresh capital," the ratings agency says. Fitch also affirmed its IDR on ICICI Bank to 'BBB-', while downgrading the Bank's Support Rating to '3', from '2', and revising its Support Rating Floor to 'BB+', from 'BBB-'. The Outlook on ICICI is Stable. The ratings agency feels that ICICI's capital buffers are better even though it has experienced similar financial deterioration in the previous few years.

The Board of Indian IT major Tata Consulting Services (TCS) on Friday approved to buy back 7,61,90,476 equity shares of Re 1 face value at Rs 2,100 per share for about Rs 16,000 crore (over $2 billion)."The buyback size is 1.99 per cent of the total paid-up equity share capital," the city-based firm said in a regulatory filing on the BSE. This is the second time the global software major is resorting to buy back its shares after it bought 5.61-crore shares in April 2017 for Rs 16,000 crore at Rs 2,850 per share. "The buyback will be on a proportionate basis under the tender offer route in accordance with the provisions of the SEBI regulations and the Companies Act, 2013," said the filing. The offer, however, does not include expenses incurred for the buyback and is subject to approval by the shareholder by a special resolution through a postal ballot.The Total Investment & Insurance Solutions

Major Indices (The Total Investment & Insurance Solutions)
Top Gainer (The Total Investment & Insurance Solutions)
Asian Indices (The Total Investment & Insurance Solutions)
Weekly Indices (The Total Investment & Insurance Solutions)

Higher oil prices, GST may boost states revenue by Rs 37,400 crore in FY19 -The Total Investment & Insurance Solutions

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15 June 2018

 

Rxportdata (The Total Investment & Insurance Solutions)

 States are likely to gain an additional Rs 37,426 crore in revenue in the current fiscal on the back of surge in oil prices and better tax collection due to the GST, says a report. The Total Investment & Insurance Solutions

According to SBI Research, the impact of GST on tax revenue is minimal except in a few states. The Total Investment & Insurance Solutions

As many as 16 of the 24 states, have seen thier revenue increasing over and above the 14 percent baseline/ mutually accepted minimum tax growth rate between the Centre and the states post-GST rollout below which the states have to be compensated. The Total Investment & Insurance Solutions

"We have found that on an aggregate lever, the states have gained by Rs 18,698 crore in additional revenue in FY18. If we combine this figure with the gains that the states have made due to increase in crude prices, the overall figure will be Rs 37,426 crore," the report said. The Total Investment & Insurance Solutions

The amount will be sufficient to neutralize the Rs 34,627 crore of revenue forgone if the states impose VAT only on base the price of crude.

Post-GST implementation in July last year, the tax revenue of the states has gone up in FY18 due to increased tax compliance and broader tax base. 

While Gujarat, Haryana, Maharashtra, Chhattisgarh, Jharkhand and Punjab have gained the maximum from GST, Karnataka, Bengal, UP, MP and Assam have reported a decline in tax collection post-GST.

These states were impacted due to the changes in the nature of taxation as GST has subsumed indirect taxes such as service tax, VAT, excise duty, entry tax, entertainment tax into one, including the taxes under the Centre and the states which contribute to an aggregate of over 55 per cent of tax revenue of these states. The Total Investment & Insurance Solutions

"We expect that while there is a need to optimise tax revenue, for funding social security programmes, there is also a need to insulate consumers from adverse price shocks," the report said. The Total Investment & Insurance Solutions

From that perspective, states could come forward and rationalise their VAT rates. After all, crude price falling much below USD 70 a barrel looks uncertain now, the report concluded. The Total Investment & Insurance Solutions

TCS to buy back shares worth Rs 16,000 cr, again -The Total Investment & Insurance Solutions

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15 June 2018

 

TCS (The Total Investment & Insurance Solutions)

The Board of Indian IT major Tata Consulting Services (TCS) on Friday approved to buy back 7,61,90,476 equity shares of Re 1 face value at Rs 2,100 per share for about Rs 16,000 crore (over $2 billion).

"The buyback size is 1.99 per cent of the total paid-up equity share capital," the city-based firm said in a regulatory filing on the BSE.

This is the second time the global software major is resorting to buy back its shares after it bought 5.61-crore shares in April 2017 for Rs 16,000 crore at Rs 2,850 per share. The Total Investment & Insurance Solutions

"The buyback will be on a proportionate basis under the tender offer route in accordance with the provisions of the SEBI regulations and the Companies Act, 2013," said the filing. The Total Investment & Insurance Solutions

The offer, however, does not include expenses incurred for the buyback and is subject to approval by the shareholder by a special resolution through a postal ballot. The Total Investment & Insurance Solutions

"A public announcement on the process, timelines and other details will be made in due course in accordance with the buyback regulations," added the filing.

The company's blue-chip scrip gained Rs 49.20 at the end of Friday's trading on the BSE to close at Rs 1,841.45 as against Thursday's closing price of Rs 1,792.25 and opening rate of Rs 1,801. The scrip also went up to a high of Rs 1,849 and a low of Rs 1,791 during the intra-trading sessions.

In addition to buying back its shares, the outsourcing firm gifted its investors with 1:1 bonus shares and a total dividend of Rs 50 per share for the last fiscal (2017-18), which amounts to a record 5,000 per cent per annum.

"Rs 26,800 crore of cash has been returned to shareholders in dividends and buyback during the fiscal," said the company in a filing on April 19.The Total Investment & Insurance Solutions

Global Stocks Mostly Lower As US Plans Tariffs On China-The Total Investment & Insurance Solutions

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15 June 2018

South korea financial markets (The Total Investment & Insurance Solutions)

 Global stock markets were mostly lower on Friday as U.S. President Donald Trump's approval of a plan to impose tough tariffs on China renewed concerns about trade friction. The Total Investment & Insurance Solutions

KEEPING SCORE: Britain's FTSE 100 fell 0.7 percent to 7,707, while France's CAC 40 added 0.1 percent to 5,535. Germany's DAX edged down 0.3 percent to 13,072. Futures augured a weak start on Wall Street. S&P futures fell 0.4 percent while Dow futures dropped 0.6 percent. The Total Investment & Insurance Solutions

TARIFFS: Trump approved a plan to impose punishing tariffs on tens of billions of dollars of Chinese goods as early as Friday. The White House has yet to release a final list of products but a tentative version in April ran the technology gamut from TVs and telecoms equipment to medications and industrial chemicals. U.S. officials say the tariff hike targets goods that might benefit from Chinese theft of technology or pressure on foreign companies to hand it over in exchange for market access. The Total Investment & Insurance Solutions

ANALYST'S TAKE: "Ultimately a negotiated solution is likely," said Shane Oliver, head of investment strategy at AMP Capital. Even though China and the U.S. probably want to negotiate, "the risks are high and the tariffs could well be implemented before the issue is resolved."

EUROPE: The ECB on Thursday said it would phase out by the end of the year its bond-buying stimulus for the 19 countries that use the euro. It had deployed the program in 2015 to save the region from the risk of falling prices and growth. It also said it plans to hold off on raising interest rates until at least the summer of 2019, which is longer than some investors expected.

ASIA'S DAY: Asian stocks finished mixed. Japan's Nikkei 225 finished 0.5 percent higher at 22,851.75 but South Korea's Kospi retreated 0.8 percent to 2,404.04. Hong Kong's Hang Seng index declined 0.4 percent to 30,309.49 while China's Shanghai Composite Index fell 0.7 percent to 3,021.90. Australia's S&P-ASX 200 jumped 1.3 percent to 6,094.00. Stocks in Taiwan were higher, while in Indonesia markets were closed for a holiday.

CURRENCIES: The dollar was flat at 110.65 yen and the euro strengthened to $1.1591 from $1.1560. The Total Investment & Insurance Solutions

OIL: Benchmark U.S. crude lost 20 cents to $66.69 per barrel in electronic trading on the New York Mercantile Exchange. On Thursday, it rose 25 cents to settle at $66.89 per barrel. Brent crude, the international standard, fell 92 cents to $75.02 per barrel. On Thursday, it fell 80 cents to $75.94.The Total Investment & Insurance Solutions

Nifty, Sensex Gives Up Some Gains-Thursday closing report-The Total Investment & Insurance Solutions

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14 June 2018

After trending up for three days, the major indices opened lower on Thursday and closed with losses. On the NSE, there were 787 advances, 918 declines and 354 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

The key Indian equity indices closed in the red on Thursday as weak global indices and profit booking dented investors sentiments.The slide in key indices -- S&P BSE Sensex and NSE Nifty50 -- snapped their three-day gaining streak after the US Federal Reserve hiked its benchmark interest rates. According to market observers, heavy selling pressure was witnessed in the IT, consumer durables and capital goods stocks. The Sensex touched a high of 35,749.88 points and a low of 35,488.55 points during the intra-day trade. The BSE market breadth was tilted towards the bears with 1,395 declines against 1,232 advances.

A major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 percent, to nearly double over the 2.26 percent registered in May last year and higher than the 3.18 percent recorded in April, 2018, Commerce Ministry data showed on Thursday. Earlier this week, Central Statistics Office data showed that the consumer price index (CPI), or retail inflation, in May had touched 4.87 percent.

Citing risks to inflation mainly from rising global crude prices, the Reserve Bank of India (RBI) last week raised its key lending rate by 25 basis points to 6.25 percent for the first time in over four years. The RBI has a median retail inflation target rate of 4 per cent. The Total Investment & Insurance Solutions 

Lending major ICICI Bank on Wednesday said that its Board has approved the sale of up to 2% in the joint venture, ICICI Prudential Life Insurance, in one or more tranches. The bank, in a BSE filing, said that the sales can be carried out "in any manner permissible under applicable law, including through an 'offer for sale by promoters through stock exchange mechanism'".

Non-banking financial companies (NFBCs) need to focus more on medium and small enterprises, the returns from which are much higher than from large corporates to whom NBFCs have much larger exposure, the Reserve Bank of India (RBI) said on Wednesday. The RBI also asked NBFCs to meet the legitimate funding needs of the micro, small and medium enterprises (MSMEs). "NBFCs are trying to be the mirror image of banks, as much of your lending now is towards large corporate and your lending to MSMEs is not much, where you get better margins," RBI Chief General Manager (department of non-banking supervision) P. Vijaya Kumar said at an event here organised by the Indian Merchant Chamber.

The Enforcement Directorate (ED) has requested the Interpol to issue Red Corner Notice (RCN) against absconding diamentiare Nirav Modi in connection with its probe into the Rs 13,500 crore Punjab National Bank (PNB) fraud case, agency sources said. An ED source said that the financial probe agency has written to the Interpol requesting to issue the RCN, a request to locate and provisionally arrest an individual pending extradition. It is issued by the General Secretariat at the request of a member country or an international tribunal based on a valid national arrest warrant. The agency's move comes in the wake of the charge sheet it filed against 23 people including Nirav Modi in a special court in Mumbai.

The top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions

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)

WPI inflation rises to 14-month high of 4.43% in May on costlier fuel, veggies-The Total Investment & Insurance Solutions

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14 June 2018

wholesale(The Total Investment & Insurance Solutions)

Inflation based on wholesale prices shot up to a 14-month high of 4.43 percent in May on increasing prices of petrol and diesel as well as vegetables.

The Wholesale Price Index (WPI) based inflation stood at 3.18 percent in April and 2.26 percent in May last year. The Total Investment & Insurance Solutions

According to government data released today, inflation in food articles was at 1.60 percent in May 2018, as against 0.87 percent in the preceding month.

 Inflation in vegetables climbed to 2.51 percent in May, while in the previous month it was (-)0.89 percent. The Total Investment & Insurance Solutions

Inflation in 'fuel and power' basket rose sharply to 11.22 percent in May from 7.85 percent in April as prices of domestic fuel increased in line with rising global crude oil rates. The Total Investment & Insurance Solutions

Potato inflation was at a peak of 81.93 percent, against 67.94 percent in April.

Price rise in fruits was in double digits at 15.40 percent, while pulses saw a deflation of 21.13 percent. The Total Investment & Insurance Solutions

The WPI inflation for March was revised upwards to 2.74 percent from the provisional estimate of 2.47 percent.

May inflation at 4.43 percent was a 14-month peak. The previous high was in March 2017, when the WPI inflation stood at 5.11 percent.

In its second monetary policy review for the fiscal, the Reserve Bank earlier this month hiked interest rate by 0.25 percent-- the first hike in more than four years -- due to growing concerns about inflation stoked by rising global crude oil prices as well as domestic price increases.

The price of Indian basket of crude surged from USD 66 a barrel in April to around USD 74 currently. The Total Investment & Insurance Solutions

Data released earlier this week showed retail inflation jumped to a 4-month high of 4.87 percent in May on costlier food items such as fruits, vegetables and fuel. RBI mainly takes into account retail inflation data while formulating monetary policy.The Total Investment & Insurance Solutions

Govt extends sale of pre-GST goods with stickers of revised price till July 31-The Total Investment & Insurance Solutions

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14 June 2018

GST (The Total Investment & Insurance Solutions)

Sale of pre-GST packaged goods has now been allowed with stickers of revised rates till July 31, the government today said. After implementing GST from July 1, 2017, the government had allowed use of stickers with revised rates, alongside the printed MRP for pre-packaged items to reflect changes in selling price for three months till September 30. The deadline has been extended several time and the latest was April 30. The Total Investment & Insurance Solutions

In a latest order, the consumer affairs ministry said the deadline has been extended till July 31 on request made by manufacturers, packers and importers.

The details such as 'country of origin' should be mandatorily declared along with other declarations, including 'best before use' or 'use by date or expiry date' required under the rules, the ministry added.

The unsold items had an MRP which included all taxes of pre-GST era but with the implementation of new regime, some of the final retail prices have undergone change due to increase or decrease in tax incidence.The Total Investment & Insurance Solutions

ICICI Bank to offload 2% in ICICI Prudential Life Insurance-The Total Investment & Insurance Solutions

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14 June 2018

 

ICICI Bank (The Total Investment & Insurance Solutions)

Lending major ICICI Bank on Wednesday said that its Board has approved the sale of up to 2 per cent in the joint venture, ICICI Prudential Life Insurance, in one or more tranches. The Total Investment & Insurance Solutions

The bank, in a BSE filing, said that the sales can be carried out "in any manner permissible under applicable law, including through an 'offer for sale by promoters through stock exchange mechanism'".

On Wednesday, the stock of ICICI Prudential Life Insurance on the BSE closed at Rs 410.25, down Rs 11.70 or 2.77 per cent from its previous close of Rs 421.95 per equity share.The Total Investment & Insurance Solutions

Global Stocks Sink After Fed Hike Signal, Eyes Turn To ECB-The Total Investment & Insurance Solutions

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14 June 2018

Japan financial markets (The Total Investment & Insurance Solutions)

Global stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. Eyes are now on the European Central Bank, which is discussing Thursday when it might end its stimulus program. The Total Investment & Insurance Solutions

KEEPING SCORE: Britain's FTSE 100 was down 0.5 percent to 7,667 and France's CAC 40 fell 0.2 percent to 5,441. Germany's DAX was down 0.3 percent to 12,846. Futures indicated a lackluster start on Wall Street. Futures for the Standard & Poor's 500 index and Dow were flat.

ASIA'S DAY: Japan's Nikkei 225 sank 1 percent to 22,738.61 while South Korea's Kospi plunged 1.8 percent 2,423.48. Hong Kong's Hang Seng index dropped 0.9 percent to 30,440.17 and the Shanghai Composite Index was down 0.2 percent to 3,044.16. Australia's S&P-ASX 200 slipped 0.1 percent to 6,016.60. Stocks in Taiwan and Southeast Asia were lower.

CENTRAL BANKS: The Fed's rate hike was its second this year. The American central bank raised its outlook for increases this year from three to four. Chairman Jerome Powell said the U.S. economy is in great shape but investors worry faster rate hikes could stifle growth. The ECB, meanwhile, could indicate Thursday when it will wrap up its bond-buying stimulus program, which has boosted stocks and growth since it started in 2015.

KOREA TALKS: South Korean investors sold stocks after President Donald Trump's meeting with North Korean leader Kim Jong Un on Tuesday. Trump boasted the meeting ended any nuclear threat from North Korea, and South Korean President Moon Jae-in tried to put a positive spin on the outcome, but it produced no details on how or when North Korea's nuclear weapons might be eliminated or even reduced. South Korean businesses that have recently gained on expectations for joint inter-Korean business projects were among the biggest losers. The Total Investment & Insurance Solutions

CURRENCIES: The dollar slipped to 110.00 yen from 110.33 yen. The euro rose to $1.1826 from $1.1793. The Total Investment & Insurance Solutions

ENERGY: Benchmark U.S. crude added 23 cents to $66.87 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 0.4 percent to $66.64 a barrel in New York on Wednesday. Brent crude, used to price international oils, fell 13 cent to $76.61 per barrel in London. It gained 1.1 percent to $76.74 per barrel on Wednesday.The Total Investment & Insurance Solutions