Happy Janmasthami-The Total Investment & Insurance Solutions

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02 September  2018

Sundaram Mutual Fund New Fund Offers-The Total Investment & Insurance Solutions

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01 September  2018

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GDP growth may propel Nifty, Sensex higher – Weekly closing report-The Total Investment & Insurance Solutions

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31 Aug 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 range-bound during the week and closed with gains on Friday over last Friday’s close. The trends of the major indices in the course of the week are given in the table below:

The major indices of the Indian stock markets rallied on Monday and closed with gains over last Friday’s close. On the NSE, there were 986 advances, 825 declines and 94 unchanged. The Total Investment & Insurance Solutions

The key Indian equity indices -- S&P BSE Sensex and the NSE Nifty50 -- crossed the psychological marks of 36,700 points and 11,700 points for the first time today before closing the day just below the landmark levels.

Supported by firm global cues, the Sensex and the Nifty 50 touched their all-time high levels of 38,736.88 points and 11,700.95 points, respectively and settled at record closing levels.

Healthy buying was witnessed in banking, consumer durables and IT (information technology) stocks. The S&P BSE banking index surged around 530 points during the day. The Total Investment & Insurance Solutions

A major deadline in the process of resolving the country's most pressing corporate and banking problem of non-performing assets (NPAs), or bad loans ended on Monday. The Reserve Bank of India (RBI) had set this six-month timeframe for finalising resolution plans for around 70 large stressed accounts in banks that are worth over Rs3.8 lakh crore.

The major indices of the Indian stock markets opened up positively on Tuesday over previous day’s close and remained range bound. On the National Stock Exchange (NSE), there were 716 advances, 1028 declines and 329 unchanged.

Both the BSE Sensex and the NSE Nifty50 touched their respective record intra-day highs of 38,938.91 points and 11,760.20 points, before ending Tuesday's trade at record closing levels.

Market observers credited the easing of global trade tensions and buying in metal, auto and IT (information technology) stocks as factors, which pushed the key indices higher. The Total Investment & Insurance Solutions

ITI Ltd says it has received a letter of intent (LoI) valued at Rs2,658 crore for the selection as the Project Implementation Agency (PIA) for MahaNet-I (BharatNet Phase II) in Maharashtra for two packages, A and C, issued by Maharashtra Information Technology Corporation Ltd. 

Pharmaceutical company Lupin said it received final approval for its Gabapentin Tablets from the US FDA to market a generic version of Pfizer Inc's Neurontin tablets. The drug is use in the treatment of postherpetic neuralgia.

The major indices of the Indian stock markets were range-bound on Wednesday and closed with losses over Tuesday’s close. On the NSE, there were 832 advances, 891 declines and 349 unchanged.

Broadly negative global cues along with a weak rupee subdued the Indian equity market on Wednesday. Selling pressure was witnessed in the IT (information technology), energy and consumer durable stocks. Key Indian equity indices closed in the negative territory on Wednesday as the rupee slumped to an all-time low, while weak global cues further subdued the sentiments, analysts said. The Indian currency earlier in the day plunged to 70.55 per dollar, the lowest-ever level, which dampened the domestic investor sentiments. The market indices have continuously traded higher for the last six weeks and looks highly stretched. The Total Investment & Insurance Solutions
 

Jain Irrigation bagged an export order valued at Rs127 crore from Rwanda Agriculture Board (RAB), Kigali, Rwanda for irrigation and watershed development project in Rwanda. 

Natural resources major Vedanta Ltd has won 41 of the 55 oil and gas exploration blocks offered through auction under the government's new open acreage licensing policy (OALP), the Directorate General of Hydrocarbons (DGH) said. 

The major indices of the Indian stock markets were range-bound on Thursday and closed with minor losses over Wednesday’s close. On the NSE, there were 973 advances, 770 declines and 328 unchanged.

The key equity indices traded in the red on Thursday due to a weak rupee along with profit booking ahead of August futures and options expiry later in the day. The indices had, however, opened on a positive note, but could not hold on to the gains. The Indian currency earlier in the day touched its lowest-ever mark of 70.81-82 per US dollar, which dampened the market sentiments. According to analysts, selling pressure was witnessed in banking stocks, followed by finance and FMCG (fast moving consumer goods) counters.

Cadila Health - Zydus has received the final approval from the USFDA (United States Food and Drug Administration) to market two products, Gemfibrozil Tablets USP and Aripiprazole Orally Disintegrating Tablets USP. Gemfibrozil used in treating high cholesterol, risk of stroke, heart attack and Aripiprazole is an antipsychotic drug. The Total Investment & Insurance Solutions 

Tata Power has commissioned 820.8kWp World’s largest solar rooftop installation on a cricket stadium, at CCI, Mumbai. This will help to generate 1.12 million units per year which lead to 25% savings in power consumption cost and curbs CO2 emission of over 840 tonnes annually. 

The key Indian equity indices ceded all their gains made earlier in the day to trade in the negative territory on Friday as the rupee plunged further, along with decline in the global indices. The Indian currency earlier in the day touched its lowest-ever mark of 71 per US dollar, which dampened the domestic investor sentiments. Further, major Asian and other global indices traded on a negative note after US President Donald Trump in an interview threatened to pull out of the World Trade Organisation if the body "doesn't shape up". According to analysts, selling pressure was witnessed in banking stocks, followed by oil and gas stocks and metal counters. The Total Investment & Insurance Solutions

Fortis Healthcare's Chief Financial Officer Gagandeep Singh Bedi has resigned, citing personal reasons. According to a BSE filing, the company Board at its meeting on Friday accepted Bedi's resignation "after discussion and deliberation" with effect from September 30 due to personal reasons. Fortis Healthcare shares closed at Rs146.65, down 1.35% on the NSE.

Jindal Stainless Group, which is planning to ramp up its capacity, is looking at a 15%-20% growth in revenue in the current financial year, an official said on Friday. "Given the stable condition of the commodity market, we are expecting 15-20 per cent growth in revenue in the current fiscal. In 2017-18, our revenue was around Rs20,000 crore," its Senior Vice President and Head (Sales and Distribution) Vijay Sharma said. He said that the volume growth is expected to be around 12%-13% in the current fiscal over last year. The group sold about 1.4 million tonnes of stainless steel in FY18 (2017-18). The stainless steel market is growing by around 5% globally and about 9%-10% in India, he said, adding that per capita consumption is around 2 kg in India, compared with a global average of 5 kg. The group, which presently has most exposure in the flat stainless products category, has a smelting capacity 1.6 million tonnes a year. "Our plan is to invest in cold rolling mills. Currently, we have a 450,000-tonne capacity in cold rolling and another 150,000 tonnes in our Indonesia facility. We will have about 200,000-tonne cold rolling capacity in our Jajpur plant," he said. Jindal Stainless shares closed at Rs66.50, down 3.41% on the NSE.The Total Investment & Insurance Solutions

 

Weekly Indices (The Total Investment & Insurance Solutions)

India's core industries' growth slows down in July-The Total Investment & Insurance Solutions

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31 Aug 2018

 

Industry (The Total Investment & Insurance Solutions)

The growth of eight core industries slowed down to 6.6 per cent in July against 7.6 per cent the previous month. However year-on-year, the figures are much better. The eight core sector - - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had registered a growth of 2.9 per cent in July last year. The Total Investment & Insurance Solutions

 The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, constitute 40.27 per cent of the total industrial production. The Total Investment & Insurance Solutions

The coal sector saw a huge decline to 9.7 per cent from 11.5 per cent a month ago. The Total Investment & Insurance Solutions

Crude oil output was minus 5.4 per cent against minus 3.4 per cent in June.

The Natural Gas production (weight: 6.88per cent) declined by 5.2 per cent in July. The Total Investment & Insurance Solutions

July refinery products at 12.3% vs 12.1% in June.

Electricity output also dropped significantly to 4.8 per cent vs 8.4 per cent growth in the previous month. The Total Investment & Insurance Solutions 

Steel sector saw better output with data showing growth of 6 per cent vs 3.4 per cent in the month of June 2018. The Total Investment & Insurance Solutions 

The cement sector saw a growth of 10.8 per cent against 13,2 per cent in June. 

A marginal increase was wittnessed in fertilizer sector that saw growth of 1.3% vs 1% in June. The Total Investment & Insurance Solutions 

During the April-July period of the current fiscal, these 8 sectors grew by 5.8 per cent as against 2.6 per cent in the year-ago period. The Total Investment & Insurance Solutions

India's GDP grows at 8.2 per cent in 2018-19 Q1 -The Total Investment & Insurance Solutions

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31 Aug 2018

 

Economy (The Total Investment & Insurance Solutions)

India's economy grew at an impressive 8.2 per cent in the first quarter of 2018-19 financial year ending June 30 on the back of a strong core performance and a healthy base . The Total Investment & Insurance Solutions

This jump ahead of national elections next year would help bolster the government amid a debate over its economic record versus that of its predecessor following the release of back-series data recently. This will also be factored in by the monetary policy committee at its next review scheduled for October 3-5. The Total Investment & Insurance Solutions

The Indian government changed the base year for GDP calculation from 2004-05 to 2011-12, by changing the goods and services in the basket to make it more current, in 2015. The Total Investment & Insurance Solutions

Key Highlights This is the highest growth in two years and strongest since the first quarter of 2016. The Total Investment & Insurance Solutions

Sectors which registerd growth of over 7 per cent include ‘manufacturing, ‘electricity, gas, water supply & other utility services’ ‘construction’ and ‘public administration, defence and other services’.

The growth in the ‘agriculture, forestry and fishing’, ‘mining and quarrying’, ‘Trade, hotels, transport, communication and services related to broadcasting’ and financial, real estate and professional services is estimated to be 5.3 percent, 0.1 percent, 6.7 percent, and 6.5 percent respectively during this period.

GDP at current prices in Q1 of 2018-19 is estimated at Rs 44.33 lakh crore, as against Rs 38.97 lakh crore in Q1 of 2017-18, showing a growth rate of 13.8 percent. The Total Investment & Insurance Solutions

The official figures are much better than the expectations of economists who have predicted about 7.5-7.6 per cent Q1 growth.

The world’s second largest economy, China, reported a 6.7 per cent growth for June quarter compared with 6.8 per cent in March quarter. India's $2.6 trillion economy surpassed France's in 2017 to be the world's sixth largest, and it was not far before the United Kingdom, according to World Bank data

However despite the strong Q1 numbers, there is apprehension about the economy slowing down in the coming times.

Sameer Narang, chief economist at Bank of Baroda, told Reuters that the economic growth could cool to about 7.2 percent in October-March.

The Reserve Bank of India has raised its benchmark repo rate by a total of 50 basis points at its past two meetings, to 6.5 percent, to tame inflation that has remained above its medium-term target of 4 percent for the last nine months. 

In July, retail inflation eased to 4.17 percent from a year earlier, but is projected to remain around 4.8 percent in the second half of the fiscal year. 

The rupee has weakened nearly 10 percent against the dollar this year, touching a record low of 71 to the dollar today, and is the worst performing currency in Asia. 

Credit ratings agency Moody's has warned about rising pressure of higher oil prices and interest rates on government finances and India's current account. 

Earlier today, government data showed a fiscal deficit of Rs 5.40 lakh crore for April-July, or 86.5 percent of the budgeted target for the current fiscal year compared with 92.4 percent a year earlier. The Total Investment & Insurance Solutions

NBFC-MFIs post over 50 per cent year-on-year growth in Q1 FY19 -The Total Investment & Insurance Solutions

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31 Aug 2018

 

Loan (The Total Investment & Insurance Solutions)

NBFC microfinance institutions posted more than 50 per cent growth in gross loan portfolio at Rs 51,878 crore in April-June compared to the same period of last year, industry body Microfinance Institutions Network (MFIN) said today. 

The Gross Loan Portfolio (GLP) Non-Banking Finance Company-Microfinance Institutions (NBFC-MFIs), excluding Business Correspondent portfolio stood at Rs 47,650 crore, the MFIN, which is the self-regulatory organisation (SRO) for the microfinance industry, said in a release. 

During the first quarter of the fiscal, NBFC-MFIs disbursed 76 lakh loans worth Rs 17,836 crore witnessing a growth of 36 per cent in number of loans disbursed and 52 per cent in loan amount disbursed. 

Overall microfinance industry has grown by 39 per cent year-on-year in April-June quarter of the fiscal and total size of the microfinance industry stands at Rs 1,48,097 crore, the MFIN said. The Total Investment & Insurance Solutions

"Microfinance industry has gained pace, showcasing promising growth in the past quarters. As we see more new players entering the space and the current ones growing larger realizing their IPO plans, the coming period will mark a new chapter for the sector," said CEO of MFIN Harsh Shrivastava. 
 .. 
Cashless disbursements by NBFC-MFIs now account for 87 per cent of the total disbursements. The Total Investment & Insurance Solutions

In the quarter a total Rs 11,404 crore was disbursed in cash-less mode leading to cash-less disbursements in over 42 lakh loan accounts. 

In terms of regional distribution of portfolio (GLP), MFIN said east and north-east parts of the country accounted for 35 per cent of the total NBFC-MFI portfolio. 

The south accounted for 26 per cent, north 15 per cent, west 14 per cent and central India contributed 10 per cent. The Total Investment & Insurance Solutions

Karnataka, Odisha, Bihar, Uttar Pradesh and Tamil Nadu are the top five states in terms of loan amount outstanding, accounting for 53 per cent of total GLP of NBFC-MFI segment. The Total Investment & Insurance Solutions

In terms of geographic categorisation, 66 per cent of the portfolio for NBFC-MFIs is rural and 34 per cent is urban. 

Current membership/associates of MFIN consists of 48 leading NBFC-MFIs. The Total Investment & Insurance Solutions

Report Of More China Tariffs Sends Global Stocks Lower-The Total Investment & Insurance Solutions

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31 Aug 2018

Japan financial markets (The Total Investment & Insurance Solutions)

 Global shares mostly fell Friday following a report that the Trump administration could put tariffs on $200 billion in Chinese goods as early as next week.

KEEPING SCORE: France's CAC 40 fell 0.5 percent in early trading to 5,451.68. Germany's DAX lost 0.7 percent to 12,404.10. Britain's FTSE 100 slipped 0.3 percent to 7,496.35. U.S. shares were set to drift lower with Dow futures down 0.1 percent at 25,993. S&P 500 futures were also 0.1 percent lower at 2,898.70.

ASIA'S DAY: Japan's benchmark Nikkei 225 recouped earlier losses to finish virtually unchanged at 22,865.15. Australia's S&P/ASX 200 slipped 0.5 percent to 6,319.50. South Korea's Kospi rose 0.7 percent to 2,322.88. Hong Kong's Hang Seng was down 1.1 percent at 27,858.64, while the Shanghai Composite index fell 0.5 percent to 2,725.25.

TRADE WORRIES: Worries about recent trans-Pacific trade fiction have hurt Asian markets. Bloomberg News said the U.S. government was getting ready to ramp up its trade dispute with China. It has been threatening to tax $200 billion in Chinese products for several months, which would represent a major escalation in the trade fight. The report sent shares falling on Wall Street.

ANALYST'S TAKE: "It is undoubtedly a morning of decline for Asia markets following the setback seen overnight on Wall Street from the bout of political tensions," said Jingyi Pan, market strategist at IG in Singapore.

ENERGY: Benchmark U.S. crude fell 12 cent to $70.13 a barrel. It gained 1.4 percent to $70.25 in New York. Brent crude, used to price international oils, dipped 25 cents to $77.77 a barrel in London.

CURRENCIES: The dollar fell to 110.75 yen from 111.58 yen. The euro fell to $1.1685 from $1.1688.The Total Investment & Insurance Solutions