Tax Saving Mutual Fund (ELSS) is the best option (U/S 80C of I.T)-The Total Investment & Insurance Solutions

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15^Th September 2018

Nifty, Sensex May Rally a Bit if Today’s Low Holds – Wednesday closing report-The Total Investment & Insurance Solutions

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12 September 2018

I had mentioned in Tuesday’s closing report that Nifty, Sensex continued to be under pressure. The major indices of the Indian stock markets rallied on Wednesday and closed with gains over Tuesday’s close. On the NSE, there were 688 advances, 1,048 declines and 330 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

A recovery in the rupee value along with value buying buoyed the key Indian equity indices on Wednesday. The key equity indices -- S&P BSE Sensex and NSE Nifty50 -- which had a gap-up opening, traded in a flat-to-negative range, as investors were cautious over the upcoming macro-economic inflationary data point.

However, the key indices reversed the bearish trend after the mid-afternoon session as buying was witnessed in FMCG (fast moving consumer goods), metal and capital goods counters. In the past two trade sessions the Sensex had shed nearly 1,000 points and gave investors an opportunity to pick up stocks on an attractive valuation. On the currency front, the Indian rupee registered a recovery at 72.11 at 4.00 p.m. after it touched a new low of 72.91 earlier in the day. At the provisional closing time, the wider Nifty50 on the National Stock Exchange stood at 11,369.90 points, higher by 82.40 points or 0.73% from the previous close of 11,287.50 points.

An agreement was signed between the Uttar Pradesh government and private air carrier Spice Jet on Wednesday to fly on five new routes in the state, an official said. The new routes on which flights will begin after clearances from the Union Civil Aviation Ministry and the UP government are Varanasi-Kolkata, Varanasi-Bengaluru, Kanpur-Mumbai, Kanpur-Bengaluru and Gorakhpur-Bengaluru. SpiceJet shares closed at Rs79.60, up 0.32% on the BSE.

Reliance Capital Ltd, a part of the Reliance group, said it closed the first quarter with a net profit of Rs272 crore on a total income of Rs4,641 crore. In a statement issued here, Reliance Capital said on a consolidated basis its total income for the quarter ended June 30, 2018 stood at Rs4,641 crore up from Rs4,444 crore logged in the corresponding period of the previous year. The company has posted a net profit of Rs272 crore as against a loss of Rs378 crore in the corresponding period of the previous year. As on June 30, 2018, the company had a net debt equity ratio of 5.18. According to the statement, the total assets of the company stood at Rs87,041 crore, an increase of 7%. The consolidated results have been prepared in line with Ind AS. Insurance companies are not covered under Ind AS. Accordingly, the standalone results of Reliance General Insurance and Reliance Nippon Life Insurance have been disclosed on the basis of Insurance Regulatory and Development Authority of India (IRDAI) reporting. Reliance Capital shares closed at Rs414.20, down 5.81% on the NSE.

Budget passenger carrier IndiGo said that it has proactively grounded an Airbus A320neo aircraft for a routine engine replacement. "Post normal completion of a flight, an IndiGo aircraft was proactively grounded for a routine engine replacement yesterday (September 10, 2018)," the airline said in a statement. "There was no impact on our flight operations." In July, the budget passenger carrier had grounded a few of its A320neo aircraft due to want of spare engines from Pratt and Whitney. IndiGo, that time said the release of additional spare engines was initiated by PW and all aircraft are expected to be back in service in the second half of August. InterGlobe Aviation shares closed at Rs882.50, down 1.10% on the NSE.

Dr Reddy's launched Neostigmine Methylsulfate Injection, USP, a generic version of Bloxiverz Injection approved by the US FDA (Food and Drug Administration), in the US market. Approx. annual US sales for Bloxiverz brand and generic: US$ 111 million (ending July 2018). Dr Reddy’s Laboratories shares closed at Rs2,535.00, up 0.42% on the NSE.

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)

Lower food prices ease India's August retail inflation-The Total Investment & Insurance Solutions

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12 September 2018

 

Food (The Total Investment & Insurance Solutions)

Lower food prices eased India's August retail inflation to 3.69% from 4.17% in July, official data showed on Wednesday.

However, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) in August 2018 was higher than in the corresponding period last year, when it stood at 3.28 per cent.

According to the data furnished by the Central Statistics Office (CSO), the Consumer Food Price Index (CFPI) rose 0.29% in August from 1.30% in July 2018.The Total Investment & Insurance Solutions

Base effect dents August passenger vehicles' sale-The Total Investment & Insurance Solutions

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12 September 2018

Passenger Vehicles (The Total Investment & Insurance Solutions)

Unfavourable base effect, along with high fuel and interest costs, dented the monthly sales of domestic passenger vehicles in August 2018, data showed on Tuesday.

According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles -- cars, utility vehicles and vans -- slipped by 2.46 per cent to 2,87,186 units from 2,94,416 units sold in the corresponding period of last year.

The off-take of the sub-segment such as passenger cars dipped by 1.03 per cent during the month under review to 1,96,847 units.

Similarly, utility vehicles' sales declined in August. The off-take was lower by 7.11 per cent during the month at 73,073 units.

However, sales of vans increased by 2.41 per cent to 17,266 units.

In contrast to passenger vehicles sales the overall commercial vehicles off-take zoomed by 29.56 per cent to 84,668 units in August. The segment is a key indicator of economic activity.

The data pointed out that three-wheelers' sales accelerated by 22.83 per cent to 63,199 units during the month.

In addition, overall sales of two-wheelers, which include scooters, motorcycles and mopeds, climbed by 2.91 per cent to 1,946,811 units.

As per the data, total sales of the Indian automobile sector rose by 3.43 per cent during August 2018 to 2,381,931 units across segments and categories.

The overall exports of vehicles across categories also edged higher by 23.70 per cent to 411,357 units.

Sridhar V, Partner, Grant Thornton India said: "Commercial truck segment has been performing at a high torque during this month despite the change in the axles policy kicking in mid-July and I would presume it is not only because of the shape of the economy but also a reflection of the infra build."

"This segment has registered the highest yet for FY 19 and best is probably yet to come. Passenger vehicle segment had a mixed performance; while a few OEMs have shown growth, the largest players have shown a negative growth possibly due a high base in previous year, high interest rates and flood situations, which have had its dampening effect."

Anupama Arora, Vice President and Sector Head, Corporate Sector ratings, ICRA said: "One-off events in select geographies as well as delayed festive season resulted in muted two wheeler volumes in August 2018...."The Total Investment & Insurance Solutions

Exports up 19.21% in Aug, imports up 25.41%; trade deficit at $17.4 bn-The Total Investment & Insurance Solutions

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12 September 2018

Trade Deficit (The Total Investment & Insurance Solutions)

India's exports grew by 19.21 percent to $27.84 billion in August on account of healthy performance by sectors such as petroleum.

"Export trade during August 2018 recorded at $27.84 billion, a positive growth of 19.21 percent. Exports excluding Petroleum also reported a positive growth of 17.43 percent," Commerce and Industry Minister Suresh Prabhu said in a tweet.

Merchandise imports too rose by 25.41 percent in August to $45.24 billion due to the rising crude oil prices, leaving a trade deficit of $17.4 billion.

In July, trade deficit soared to a near five-year high of $18.02 billion.

During April-August this fiscal, the exports recorded a growth of 16.13 percent, while the imports during the first five months of this fiscal grew by 17.34 percent.The Total Investment & Insurance Solutions

Stocks Mixed On US-China Dispute; Oil Pushed Up By Hurricane-The Total Investment & Insurance Solutions

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12 September 2018

Financial Markets (The Total Investment & Insurance Solutions)

World markets were mixed Wednesday as investors focused on trade tensions, with China delaying licenses to American businesses ahead of expected tariffs from Washington. The price of oil continued to rise on concerns that Hurricane Florence could disrupt supplies.

KEEPING SCORE: In Europe, France's CAC 40 gained 0.5 percent to 5,309, while Britain's FTSE 100 was down 0.2 percent at 7,262. Germany's DAX added 0.2 percent to 11,988. Wall Street was poised to open slightly higher, with Dow and S&P 500 futures both rose 0.1 percent.

ASIA'S DAY: Japan's benchmark Nikkei 225 lost 0.3 percent to 22,604.61, and the Kospi in South Korea was almost flat at 2,282.92. Hong Kong's Hang Seng index was 0.3 percent lower at 26,345.04. The Shanghai Composite index fell 0.3 percent to 2,656.11. Australia's S&P/ASX 200 shed 0.1 percent to 6,175.90.

CHINA-U.S. TENSIONS: China is putting off accepting license applications from American companies in financial services and other industries until Washington makes progress toward a settlement, an official of a business group said Tuesday. The disclosure is the first public confirmation of U.S. companies' fears that their operations in China or access to its markets might be disrupted by the battle over Beijing's technology policy. The license delay applies to industries Beijing has promised to open to foreign competitors, according to Jacob Parker, vice president for China operations of the U.S.-China Business Council. The group represents some 200 American companies that do business with China. President Donald Trump's administration is poised to slap tariffs on $200 billion in Chinese goods and is considering tariffs on $267 billion more.

ANALYST'S TAKE: "China's ability to respond is limited in tariffs, the government is using what they call 'qualitative measures,'" said Robert Carnell, head of research and chief economist at ING Bank. "You can't put a number on that, but it's not an idle threat. They could really make it hard for U.S. companies to operate in China."

BREXIT DEAL: Hopes for a Brexit deal rose this week, pushing up the pound and helping stock markets. Britain's Treasury chief Philip Hammond said Tuesday that he agreed with the EU's Brexit negotiator that reaching a divorce deal with the European Union over the next two months is "doable." Business groups and civil servants say a "no-deal" Brexit could cause disruption in shipping, barriers to trade with the bloc, a fall in the value of the pound and even shortages of essential goods.

ENERGY: Benchmark U.S. crude added 67 cents to $69.92 a barrel, after surging past $70 in the Asian session. The contract gained 2.5 percent to $69.25 per barrel in New York. The approach of Hurricane Florence and its potential to disrupt oil supply on the East Coast spurred gains. The U.S. is also getting ready to put sanctions on Iran's energy industry. Brent crude, used to price international oils, rose 15 cents to $79.21 a barrel. It jumped 2.2 percent to $79.06 a barrel in London on Tuesday.

CURRENCIES: The dollar fell to 111.48 yen from 111.59. The euro was down to $1.1591 from $1.1605, and the pounds was roughly steady at $1.3023 after rising sharply the day before.The Total Investment & Insurance Solutions 

Nifty, Sensex continue to be under pressure – Tuesday closing report-The Total Investment & Insurance Solutions

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11 September 2018

I had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets suffered a correction on Tuesday and closed with losses over Monday’s close. On the NSE, there were 468 advances, 1,282 declines and 315 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

Broadly negative global cues subdued the key Indian equity indices during the pre-noon trade session on Tuesday. According to analysts, investors feared that high petrol and diesel prices and a weak rupee would pump up the retail and wholesale inflation rates, thereby mitigating chances of a rate cut by the Reserve Bank of India in the near term. Selling pressure was witnessed in the consumer durable, FMCG (fast moving consumer goods), telecom and capital goods stocks. On the currency front, the rupee traded over 72.30 against the US dollar around 11.35 a.m. at the Inter-Bank Foreign Exchange Market.

Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.74 to the US dollar during late afternoon session on Tuesday. At 3.35 p.m. the rupee traded around 72.64 per dollar, against the previous close of 72.45 per dollar at the Inter-Bank Foreign Exchange Market. According to analysts, expectations of higher overall inflation rate, growing protectionism in global trade and an increasing outflow of foreign funds from the country's equity market have subdued the Indian currency.

Software major Tech Mahindra announced to open two 5G Centre of Excellence (CoEs) powered by Intel technology in Redmond, Washington State and Bengaluru. The CoEs will help communication service providers (CoSPs) optimise their capital expenditure on 5G migrations and accelerate new revenue-generating services that will lead the transformation journey, the company said in a statement. "We continue to build on our strategic partnership with Intel, collaborating to develop and co-create 5G solutions. 5G as an innovation platform will unlock unprecedented opportunities in every industry vertical," said Manish Vyas, President, Communications, Media & Entertainment Business, and the CEO, Network Services, Tech Mahindra. The company has over 926 global customers including Fortune 500 companies across diverse industry verticals like healthcare, manufacturing, banking, automotive and energy. Tech Mahindra shares closed at Rs746.70, down 2.51% on the BSE.

Budget airline SpiceJet announced the launch of its dedicated air cargo services and inducted the first freighter aircraft in its fleet. The company has created a separate division christened "SpiceXpress". It will commence operations on September 18, 2018. The current cargo capacity of SpiceJet's existing fleet is about 500 tonnes per day and this would go up to 900 tonne a day in a phased manner with the addition of four freighters by March 2019. SpiceJet shares closed at Rs79.35, down 0.06% on the BSE.

Automobile major Tata Motors Group's global wholesales in August 2018, including Jaguar Land Rover (JLR) rose by 14%, as compared to August 2017. According to the group, global wholesales in August 2018, including JLR stood at 107,030 units. Tata Motors shares closed at Rs267.20, down 3.03% on the BSE.

Cadila Healthcare - Zydus received a tentative approval from the USFDA for Sitagliptin Tablets uSP, an equivalent to US RLD — Januvia® Tablets. Sitagliptin is used in treating type-2 diabetes by lowering the blood sugar levels when it is high. Cadila Healthcare shares closed at Rs408.65, down 2.89% on the BSE.

YES Bank has successfully closed USD 400 million syndicated loan facility, borrowed out of the Bank’s IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT) and will be utilised to support the IBU’s growing business. YES Bank Board has approved issue of Basel III compliant Tier 2 Bonds aggregating upto Rs3,000 crore with Green Shoe Option of upto Rs1,000 crore. Yes Bank shares closed at Rs316.70, down 2.18% on the BSE.

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

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

Major Indices (The Total Investment & Insurance Solutions)

Indian demi-billionaires to rise by 70% by 2022: Survey -The Total Investment & Insurance Solutions

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11 September 2018

 

wealthy(The Total Investment & Insurance Solutions)

As the list of wealthy Indians with over USD 500 million or more in assets grows, the number of demi-billionaires is poised to grow by 70 per cent by 2022, a recent survey said. 

According to a report by Knight Frank, India, which had 200 demi-billionaires in 2017, this number is slated to increase to 340 in 2022. 

"Prime residential markets in cities such as Mumbai and Delhi have remained largely stable in the last five years, which creates a good entry opportunity for buyers. The increase in number of demi-billionaires clearly underscores the potential for demand and price growth going forward," the report said. 

The analysis highlights that in five years' time the number of demi-billionaires in Asia will overtake those in North America for the first time. 

Wealth data specialists Wealth-X predict that there will be almost 3,000 people based in Asia who have more than USD 500 million in assets by 2022. 

"Strong global economic growth, as well as rising asset prices as key drivers behind the growth in the world's demi-billionaire population. By 2022, Wealth-X anticipates that there will be 9,570 demi-billionaires worldwide, up from 6,900 at the end of 2017," it said. The Total Investment & Insurance Solutions

India, Russia discuss ways to deepen cooperation in mining, agriculture-The Total Investment & Insurance Solutions

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11 September 2018

India and Russia (The Total Investment & Insurance Solutions)

India and Russia discussed ways to increase economic cooperation in areas such as mining and geological exploration in gold and diamond, and agriculture, the commerce ministry said Tuesday. 

The issues were discussed during the meeting between Russian Deputy Prime Minister Yury Trutnev and Commerce Minister Suresh Prabhu. 

Prabhu is in Vladivostok, Russia, to attend the Far EasternNSE -0.10 % Economic Forum being held from September 11-13. 

The commerce minister invited regional governors of the Far East to visit India with business delegations in order to explore areas of cooperation. 

India was the first country to establish a resident consulate in Vladivostok in 1992. 

However, India's existing engagement with the region is limited to isolated pockets, it said. 

"In order to bolster the trade ties it is imperative that connectivity between India and Vladivostok have to be simplified, affordable and time efficient," it said. 

It added that ease of connectivity will not only provide access to the resource rich, unexplored Far East but will also strengthen India's geo-political stature. The Total Investment & Insurance Solutions