BSE picks IBM to set up Next-Gen cyber security centre-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

11 May 2017

Aiming to ward off New-Age online threats, strengthen cyber defence and safeguard stakeholders' assets, BSE has chosen software major IBM to help set up a next-generation cyber security operation centre (SOC). The Total Investment & Insurance Solutions

Under the five-year managed security services agreement, the centre will enable round-the-clock event monitoring, event handling, security analysis, incident management and response along with synchronised management of devices, networks and applications.

"We are delighted to partner with BSE to help them leverage the best-in-class security solutions, delivering an integrated system of analytics, cognitive and real-time defences," said Sandeep Sinha Roy, Business Unit Executive, IBM Security Services, India, in a statement. 

IBM will work with the Bombay Stock Exchange (BSE) to integrate security solutions that will add new capabilities to the SOC infrastructure as well as develop a new, highly collaborative IBM and BSE framework for the multi-tenant, next generation SOC.

It will ensure proactive monitoring of threats 24x7, detection and analysis of any suspicious change in activity, protection against emerging threats and response, while ensuring resiliency of the system. The Total Investment & Insurance Solutions

"The end-to-end security solutions, services and global expertise from IBM will help BSE consolidate and fortify best practices under one umbrella. With the SOC, BSE hopes to pre-empt security risks and respond to them, thereby, staying ahead of security threats," added Shivkumar Pandey, Chief Information Security Officer, BSE.

Given that the financial services sector continues to be targeted by cybercriminals, BSE wanted to build a security centre to protect valuable digital assets belonging to the company, customers and stakeholders, while complying with SEBI & National Institute of Standards and Technology (NIST) cyber security framework.

"There was a very competitive and stringent technology evaluation process, from which we found that IBM had the most compelling value proposition and security road map for BSE," he added.The Total Investment & Insurance Solutions

Outrage in Kerala as SBI levies charges on ATM withdrawals-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

11 May 2017

A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs from June onward.

The bank's new order states that every time a SBI customer withdraws cash from an ATM a charge of Rs 25 would be levied and charges would also be levied for exchange of old and sullied notes above Rs 5,000. The Total Investment & Insurance Solutions

"This is outrageous and the central government is cheating the people. Ever since the demonetisation began, the Centre has been bullying people. This is going to be taken up in and out of parliament very strongly," said CPI-M Lok Sabha member M.B. Rajesh.

Popular film personality Shobi Thilakan called it an "anti-people policy of the Centre".

"The SBI has turned out to be worse than the local money lenders and is out to fleece the common man. There has to be a public outcry against this new policy," said Thilakan.

Customers spotted in front of an SBI ATM here also expressed anger.

"The Centre has cheated people and it has to be seen from the perspective that they did this very tactfully because Kerala's own bank (State Bank of Travancore) has been merged with the SBI. The people who banked with SBT have now become SBI customers and now they are at the receiving end," said a retired teacher, after withdrawing money from the ATM.

Another angry SBI customer from Kottayam said barring the lone Bharatiya Janata Party (BJP) legislator in the 141 member Kerala assembly, all others strongly opposed the merger and passed a resolution to this effect. The Total Investment & Insurance Solutions

"This was bound to happen and these are measures to pick the pockets poor people. We wish to know what the state BJP leaders have to say on this. There should be mass protest in Kerala against the SBI," said the angry SBI account holder.

Of the 880 SBT branches in Kerala, more than 400 were closed and at present there are over 800 SBI branches in the state.The Total Investment & Insurance Solutions

India may receive higher than predicted rainfall this year: IMD -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

11 May 2017

India may receive ahigher rainfall this year than previously predicted, a top IMD official said on Wednesday citing the weakening of the El Nino phenomenon.

India would see normal monsoon with 96 per cent of rainfall still maintained as the current forecast, and an update could only be known by the first week of June, K.J. Ramesh, Director General of India Meteorological Department, told IANS.

"From the current trend where for now the strong El Nino is weakening, the monsoon may increase," he said. The Total Investment & Insurance Solutions

"We will still have to wait and watch though," Ramesh said.

According to the IMD official, the actual status of the overall rainfall in India depends on the future status of El Nino and Indian Ocean Dipole (IOD) activities.

The pattern suggests that a moderate or strong El Nino and a positive IOD results in good rainfall. The Total Investment & Insurance Solutions

El Nino is a climatic phenomenon which is the warm phase of the cycle in the Pacific Ocean and IOD is a climate event occurring over the equatorial Indian Ocean. Both impact the monsoon.

The India Meteorological Department (IMD) earlier in April predicted a 96 per cent monsoon for 2017 season average, with a moderate error estimated at 'plus-minus five per cent' of the Long Period Average (LPA). The Total Investment & Insurance Solutions

On Tuesday, some reports claimed IMD predicting that the monsoon could be above normal and bring 100 per cent rainfall instead of 96 per cent predicted earlier.

The IMD assessment also suggested 38 per cent of probability for "near normal monsoon rainfall", depending on the situation of El Nino and IOD. 

A figure between 96 and 104 per cent of rainfall indicates a normal monsoon and between 105 and 110 per cent above normal. 

"There are two constraints; first is being near normal which is about 96 per cent. The second prediction is based on a weakening trend of the El Nino, which may lead towards the positive trend of a near normal rainfall (based on the 38 per cent probability). But we will still have to wait for the actual range," Ramesh said.

He further added that the present trends which may lead to a moderate El Nino could increase the rainfall based on the 36 per cent probability and a positive trend on the error estimation of plus-minus five per cent of the Long Period Average (LPA). 

"But we will have to see when does that happens," Ramesh said.

Indian monsoon period is from June 1 to September 30, which is the second stage long range forecast of monsoon rainfall.

"We have not issued any update of the monsoon, that would be in the first week of June. For now the prediction is still 96 per cent with error estimate of plus-minus five," M. Mohapatra, IMD scientist, said. The Total Investment & Insurance Solutions

According to private weather forecaster Skymet, if we predict the Long Period Average from the current pattern, the monsoon would be not more than 98 per cent or in normal conditions around 97 per cent.

"However, there are no chances of a 100 per cent rainfall," Mahesh Palawat, director Skymet, told . The Total Investment & Insurance Solutions

He added that the season would be good for the farmers anyway.

"There are no heavy pre-monsoon rains to destroy the wheat during harvest season, and by June, the time of planting the paddy, rainfall would range from good to moderate," Palawat said.

He added that while East and Central India would see normal monsoon, the pattern in northwest region including Punjab, Haryana, Rajasthan and parts of Western Uttar Pradesh, where monsoon had been below normal for past two years, will see a comparative weaker monsoon.

"These areas have irrigation facilities, which would balance the water consumption with the rainfall," Palawat added. The Total Investment & Insurance Solutions

US Stocks Slide In Midday Trading; Oil Heads Higher-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

11 May 2017 

U.S.Stocks (The Total Investment & Insurance Solutions)

Consumer-focused companies are leading U.S. stocks broadly lower in midday trading. Macy's, Kohl's and other big retailers are falling sharply after reporting disappointing quarterly results. Oil prices are headed higher. The Total Investment & Insurance Solutions

KEEPING SCORE: The Standard & Poor's 500 index lost 11 points, or 0.5 percent, to 2,388 as of 12:24 p.m. Eastern time. The Dow Jones industrial average shed 46 points, or 0.2 percent, to 20,896. The Nasdaq composite declined 32 points, or 0.5 percent, to 6,096, a day after closing at another all-time high.

Small-company stocks fell more than the rest of the market. The Russell 200 index dropped 10 points, or 0.7 percent, to 1,389. Two stocks fell for every one that rose on the New York Stock Exchange.

IN A SLUMP: Macy's sank 14.1 percent after the department store chain's latest quarterly results fell short of Wall Street's forecasts. The stock was the biggest decliner in the S&P 500, sliding $4.13 to $25.21. Shares in Nordstrom, which was due to report earnings later Thursday, also fell. The stock shed $3.50, or 7 percent, to $46.51. The Total Investment & Insurance Solutions

SALES DISSAPPOINT: Dillard's first-quarter results exceeded financial analysts' expectations, but its revenue for the quarter fell short. The stock fell $7.64, or 13.2 percent, to $50.27.

MIXED QUARTER: Kohl's was down 5.6 percent after the retailer reported improved quarterly earnings, but revenue that was below Wall Street's estimates. The stock gave up $2.27 to $38.05.

CHAT ABOUT THIS: Snap plunged 18.8 percent a day after the parent company of Snapchat reported a huge loss. The stock slid $4.31 to $18.67.

WIN FOR VERIZON: Straight Path Communications slid 20.4 percent after a bidding war between AT&T and Verizon Communications to acquire the wireless licenses company ended. Verizon will acquire Straight Path in an all-stock deal valued at about $3.1 billion. Shares in Straight Path gave up $45.66 to $178.13. Verizon was down 24 cents to $46.14.

APPETIZING RESULTS: Investors cheered Whole Foods's latest quarterly snapshot. The stock climbed 63 cents, or 1.8 percent, to $36.89.

OIL: Benchmark U.S. crude oil was up 77 cents, or 1.6 percent, at $48.10 per barrel in New York after surging $1.45 on Wednesday. Brent crude, the international standard, was up 69 cents, or 1.4 percent, at $50.91 per barrel in London.

CURRENCIES: The dollar fell to 113.84 yen from 114.33 yen on Wednesday. The euro strengthened to $1.0870 from $1.0862.

BONDS: Bond prices rose. The yield on the 10-year Treasury note slipped to $2.40 percent from 2.41 percent late Wednesday. The Total Investment & Insurance Solutions

MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.4 percent, while France's CAC 40 edged down 0.4 percent. Britain's FTSE shed early gains to trade down 0.1 percent. Major indexes in Asia notched gains. Japan's Nikkei 225 rose 0.3 percent, while South Korea's Kospi jumped 1.2 percent. Hong Kong's Hang Seng index added 0.4 percent.The Total Investment & Insurance Solutions

Nifty, Sensex on an uptrend again – Wednesday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

10 May 2017

I had mentioned in Tuesday’s closing report that Nifty, Sensex were still trapped in a narrow range. The major indices of the Indian stock markets rallied on Wednesday and closed with handsome gains over Tuesday’s close. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

Major Indices (The Total Investment & Insurance Solutions)

With the IMD's (Indian Meteorological Department) prediction of 100% rainfall giving a boost to investors' sentiments, the Indian equity markets zoomed higher during the mid-afternoon trade session on Wednesday. The benchmark indices touched record intra-day high levels, as positive global cues and buying in automobile, capital goods and FMCG (fast moving consumer goods) stocks, too, supported the upward trajectory. On the NSE, there were 917 advances, 569 declines and 97 unchanged. The BSE market breadth was bullish, with 1,560 advances and 1,054 declines. The Total Investment & Insurance Solutions

The equity benchmark indices started off the day on a firm note tracking positive Asian cues, with the CNX Nifty hitting fresh all time high levels during the morning session. IT (information technology) and banking sector stocks currently traded with mixed sentiments due to profit booking at higher levels, while media-entertainment and power sector stocks complimented the firmness of the markets, pointed out market analysts.

India's total food grains production in 2016-17 was estimated at a "record" 273.38 million tonnes, according to its third advance estimates, the Agriculture Ministry said on Tuesday. It shows increase in the production compared to the second advanced estimates -- issued in February - which had projected 271.98 million tonnes for the same agriculture crop year, which start from October. The ministry called the production numbers "a record" as bumper harvest is expected in food grains such as rice, wheat, coarse cereals, maize, pulses, toor (pigeon pea), and urad (split black gram). The ministry arrived at these estimates after assessment of production of different crops based on the feedback received from states and its validation using information obtained from other sources. These developments indicate an increase in aggregate demand in the Indian economy and the stock markets are likely to see bullish trends in FY17-18.

Budget passenger carrier IndiGo on Tuesday reported a decline of 24.6% in net profit for the quarter ended March 31. According to the airline, the net profit during the quarter fell to Rs440.30 crore from Rs583.78 crore reported for the corresponding period of 2015-16. "For the last quarter, despite a 38 per cent year over year increase in fuel prices, we have reported a profit after tax of INR 4.4 billion," Aditya Ghosh, President and Director of IndiGo, said in a statement. However, the low-cost carrier's total revenue, including other operating income, grew 20.3% to Rs5,141.99 crore, from Rs4,275.87 crore reported in the corresponding quarter of 2015-16. Besides, the firm's net profit edged-lower by 16.5% for the full financial year 2016-17 to Rs1,659.18 crore from Rs1,986.16 crore earned during 2015-16. On the other hand, company's total revenue grew 16.3% to Rs19,369.57 crore from Rs16,655.03 crore reported in the corresponding quarter of 2015-16. The company’s shares closed at Rs1,124.20, down 1.39% on the BSE. The Total Investment & Insurance Solutions

Bharti Airtel's net profit dropped by 71.7% to Rs373 crore in the fourth quarter of 2016-17 as compared to Rs1,319 crore in the corresponding period in previous fiscal with the mounting competition from Reliance Jio, a company statement said on Tuesday. "The sustained predatory pricing by the new operator has led to a decline in revenue growth for the second quarter in a row. The telecom industry as a whole also witnessed a revenue decline for the first time ever on a full year basis. The Total Investment & Insurance Solutions

"The deteriorating health of the industry was compounded by the tsunami of incoming voice traffic from the new operator as a result of which significant investments had to be made just to carry the incoming traffic on our network," Gopal Vittal, MD and CEO, India and South Asia, said in a statement. "Our long term commitment to provide the best experience to our customers continues to drive all our actions in every single aspect of the business. This belief coupled with brilliant execution of our people has led to acceleration in market share in an industry that is now rapidly consolidating," he added. The company's overall customer base in the fourth quarter stood at 372.4 million across 17 countries, up 8.5% as compared to the corresponding period in 2015-16. However, the company’s shares closed at Rs372.70, up 7.87% on the BSE.

State-run UCO Bank on Tuesday said it is planning to issue 75 crore equity shares during the current financial year in one or more tranches. The bank's board in its meeting scheduled for Friday will consider the proposal of raising equity capital. “The Board of Directors of our bank at its meeting scheduled to be held on May 12, 2017, will, inter alia, consider the proposal for issue of 75 crore equity shares during the financial year 2017-18 in one or more tranches through FPO (follow-on public offer), QIP (Qualified institutional placement)/ preferential issue/ESOPs (employee stock ownership plans) etc., at such an issue price to be determined in accordance with the external guidelines," the UCO Bank said in a regulatory filing. The board, in March, had also approved the proposal for issue of Tier II bonds of Rs1,000 crore from Life Insurance Corporation of India (LIC), the country's largest insurer. The company's Board of Directors has proposed a dividend of Rs34 per share, subject to shareholders' approval. The bank’s shares closed at Rs41.75, down 2.11% on the BSE. The Total Investment & Insurance Solutions

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)

Capital First yearly profit after tax up 44%-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

10 May 2017

Capital First Limited reported a profit after tax of Rs238.9 crore for FY17, an increase of 44% from Rs166.1 crore in FY 16. Capital First reported a profit after tax of Rs70.8 Crores for Q4 FY17, an increase of 49% from Rs47.5 crores in Q4 FY 16. This is the highest ever quarterly profit in the history of the company, according to a release from the company.

The net interest Income grew 59% to Rs1,300.8 crore in FY17 from Rs818.1 crore in FY16. Total income including fees grew 65% to Rs1,640.3 crore in FY17, from Rs991.8 crore in FY16.

The company’s AUM (assets under management) grew Rs19,824 crore as on 31 March 2017 with its retail loan portfolio contributing to 93% of its overall AUM as of 31 March 2017. The retail loan book grew by 33% to Rs18,353 crore as on 31 March 2017, up from Rs13,756 crore as on 31 March 2016. The Total Investment & Insurance Solutions

The gross NPAs (non-performing assets) of the company have come down to 0.95% as of 31 March 2017 as compared to 1.08% as of 31 March 2016. The net NPAs of the company have come down to 0.30% as of 31 March 2017 as compared to 0.56% as of 31 March 2016. The Provision Coverage Ratio (PCR) has improved to 69% as of 31 March 2017 as compared to 48% as of 31 March 2016. The company has not opted for 90 days relaxation extended by RBI (Reserve Bank of India) for recognition of sub-standard assets.

The Capital Adequacy Ratio of the company stood at 20.35% as of 31 March 2017.

Capital First Limited is a non-banking finance company specializing in MSME (Micro, Small and Medium Enterprises) and consumer financing supported by proprietary credit evaluation methodologies and strong credit scoring platform. The company also offers loans to salaried consumers and small enterprises primarily for home loans, two wheeler loans, durable loans, working capital, short term business needs and for consumption. The Total Investment & Insurance Solutions

April passenger cars sales surge 17%: SIAM-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

10 May 2017

Domestic passenger cars' sales rose by 17.36 per cent in April, industry data showed on Tuesday.

As per the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger cars surged to 190,788 units from 162,566 sold in April 2016.

The off-take of other sub-segments such as utility vehicles rose by 13.71 per cent during the month under review to 70,691 units from 62,170 units in April 2016.

However, sales of vans declined by 6.93 per cent to 16,123 units.

The industry data revealed that domestic passenger vehicles' sales rose by 14.68 per cent in April to 277,602 units from 242,060 units sold during the corresponding period of 2016.

However, the data showed that overall commercial vehicles' sales declined by 22.93 per cent to 41,490 units in April. The segment is a key indicator of economic activity.

Similarly, the three-wheelers segment's off-take also receded. It declined by 18.05 per cent to 36,588 units during the month under review. The Total Investment & Insurance Solutions

In contrast, the overall sales of two-wheelers, which include scooters, motorcycles and mopeds, was up by 7.34 per cent to 1,674,796 units.

Product-wise, scooter sales last month rose by 25.30 per cent to 586,886 units, while motorcycle sub-segment's off-take inched-up buy 0.50 per cent to 1,029,972 units. Mopeds segment's sales was lower by 13.58 per cent to 57,938 units.

The industry data disclosed that the Indian automobile sector reported a rise of 6.82 per cent in April 2017 -- with total sales at 2,030,476 units across segments and categories.

Moreover, the overall exports across categories increased by 30.44 per cent to 318,699 units during last month. The Total Investment & Insurance Solutions

In addition, SIAM elaborated that domestic auto industry has committed massive investments to upgrade technology and develop new platforms to meet stringent future requirements of safety, fuel economy and emissions. The Total Investment & Insurance Solutions

According to K.K. Gandhi, Executive Director (Technical) for SIAM, the industry has already started investing heavily to develop new technologies and platforms which would total around Rs 1 lakh crore till 2020-22.The Total Investment & Insurance Solutions

RBI initiates prompt corrective action against IDBI Bank-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

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

10 May 2017

State-owned lender IDBI Bank on Tuesday evening said that Reserve Bank of India (RBI) has initiated a "prompt corrective action" (PCA) Ain view of its high non-performing assets (NPAs) and negative return on assets (RoAs). The Total Investment & Insurance Solutions

"RBI, vide their letter dated May 05, 2017, has initiated PCA for IDBI Bank in view of high NPA and negative RoA," IDBI Bank in a regulatory filing to the BSE.

"This action will not have any material impact on the performance of the bank and will contribute to improving the internal controls of the bank and improvement in its activity."

The development follows April 13, 2017 revision of the PCA guidelines by RBI.

Last month, RBI said that capital, asset quality and profitability would be the basis of the PCA framework on which the banks would be monitored and has defined three kinds of risk thresholds. The Total Investment & Insurance Solutions

In a notification issued by RBI that time, the mandatory action that would be taken when a bank breaches the risk threshold includes restriction on dividend payment/remittance of profits, restriction on branch expansion, higher provisions, restriction on management compensation and director's fees. The Total Investment & Insurance Solutions

"The PCA framework would apply without exception to all banks operating in India including small banks and foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators," the RBI had said.

With regard to credit risk related action, the RBI can ask the banks to prepare a time bound plan and commitment for reduction of NPAs; restrict or reduce credit expansion for borrowers below certain rating grades or unrated borrowers/unsecured exposures/loan/concentration of loans in identified sectors or borrowers. The Total Investment & Insurance Solutions

The bank had posted a net loss of Rs 2,254.96 crore for the quarter ended December 31, 2016, as compared to net loss of Rs 2,183.68 crore for the quarter ended December 31, 2015.The Total Investment & Insurance Solutions