RBI to conduct reverse repo auction worth Rs 350 bn today 06/11/2017

RBI to conduct reverse repo auction worth Rs 350 bn today
06/11/2017 11:44
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
The Reserve Bank of India said that it will conduct 7 day, 14 day and 28 day variable rate reverse repo auctions on November 06, 2017.
“The apex bank will conduct the variable rate reverse repo auctions as per the revised guidelines on Term Repo Auctions issued on February 13, 2014,” RBI said in a notification.
The bank will auction 7 day and 14 day variable rate reverse repo for Rs 150 billion and 100 billion will be conducted between 2.30 pm to 3.00 pm and 12.00 pm to 12.30 pm respectively.
However, 28 days variable rate reverse repo for Rs 100 billion will be conducted between 10.00 am to 10.30 am.
Successful offers will get accepted at their respective offered rates, while offers at or above the repo rate will be rejected, it added
Posted by

Finmin, ADB review 55 projects worth $13.5 bn 06/11/2017

Finmin, ADB review 55 projects worth $13.5 bn
06/11/2017 11:25
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
The Finance Ministry and Asian Development Bank (ADB) jointly reviewed 55 projects worth USD 13.5 billion financed by the multilateral lender, reported PTI. Over 150 officials of the central and state governments, including project directors and ADB staff, participated in the meeting recently held in Bengaluru, the finance ministry said in a release. "As of October 2017, ADB's projects under implementation for India comprise 55 projects amounting to USD 13.5 billion of which works worth USD 9.6 billion is ongoing...," it said. ADB primarily focuses its assistance in India on three infrastructure sectors - energy, transport and urban infrastructure and services, it said. The meeting also accorded the best project implementation performance awards to Madhya Pradesh Power Transmission and Distribution System Improvement Project, Kolkata Environmental Improvement Investment Program (Tranche-1) and Uttarakhand Emergency Assistance Project.
Posted by

World Food: India gets $11 bn investment in food processing 06/11/2017


World Food: India gets $11 bn investment in food processing
06/11/2017 07:36
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Food Processing Minister Harsimrat Kaur Badal on Sunday said USD 11.25 billion investments with 50 MoUs were committed in the country's food processing sector during the World Food India event. World Food India 2017 achieved a resounding success with delegates from over 60 countries and Global CEOs congregating in New Delhi for the three day Conference cum exhibition. Recapitulating the action packed three day Mega Food event, the host Harsimrat Kaur Badal said that inspired by the leadership of Prime Minister Narendra Modi, her Ministry sees World Food India 2017 as a beginning and not end of an event. Badal said MoFPI’s resolve is only strengthened to help India be established as the World Food Factory. Smt Badal said that during WFI, States including Punjab and Haryana also have negotiated MOUs worth USD 2.5b. “Ministry of Food Processing Industries will forge ahead to work expeditiously on implementing these MOUs. A special cell has been setup in Invest India to follow up on these negotiations and the Knowledge Partners would help achieve the goals” she informed. Badal said her Ministry is guided by the principles of - ensure steps to reduce wastage, produce more and process more. Farm to Fork is their mantra and Food Processing Industries have to be the bridge between Farmers and Consumers. The Minister informed that while States of Maharashtra and Telangana have announced their Food Processing Policy, the MoFPI would soon finalize the National Food Processing Policy.
Posted by

FPIs turn net buyers in October, invest over Rs 3,000 cr in equities 06/11/2017


FPIs turn net buyers in October, invest over Rs 3,000 cr in equities
06/11/2017 07:34
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
After two months of intense selling, foreign investors turned net buyers in October to invest over Rs 3,000 crore in stocks, enthused by the government's Rs 2.11 lakh crore bank recapitalisation plan. The latest inflow followed a net pullout of Rs 24,000 crore from stock markets in the past two months (August and September). Prior to that, FPIs had invested over Rs 59,000 crore in equities between February and July. According to depository data, foreign portfolio investors (FPIs) infused a net sum of Rs 3,055 crore in equities last month. FundsIndia.com Head of Mutual Fund Research Vidya Bala said that FPIs continued their net selling streak in October until the government's announcement of recapitalisation of public sector banks and over Rs 6 lakh crore outlay for road development. "The trend reversed as they pumped money immediately after the announcement. Recapitalisation of banks and infrastructure spending are viewed by FPIs as providing a fresh lease of life for economy and markets," she added. Finance Minister Arun Jaitley on October 24 announced PSU banks recapitalisation programme of Rs 2.11 lakh crore, out of which Rs 1.35 lakh crore will come from recap bonds, and rest from markets and budgetary support. Further, India moving up in the World Bank ranking of 'ease of doing business' also buttressed positive sentiments, said Himanshu Srivastava, Senior Analyst Manager Research at Morningstar India. Additionally, slight improvement in global sentiments and stable currency could have also turned the tide in India's favour, he added. Going forward, FPI flows may sustain as second-quarter earnings are progressing well, Sharekhan Head Advisory Hemang Jani said. Apart from equities, overseas investors have infused a staggering Rs 16,000 crore in the debt segments last month due to "high nominal and real yields". "Indian bonds remain attractive on high nominal and real yields as well with the backdrop of macroeconomic stability and hence it continues to attract FPIs," Quantum Adviors Head Fixed Income and Alternatives Arvind Chari said.
Posted by

Eight of 10 top valued firms add Rs 86,932 cr in m-cap; Airtel top gainer 06/11/2017

Eight of 10 top valued firms add Rs 86,932 cr in m-cap; Airtel top gainer
06/11/2017 07:31
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Eight of the 10 most valued Indian companies together added Rs 86,932.41 crore in market valuation last week, with Bharti Airtel stealing the show with maximum gain. Reliance Industries, TCS, HDFC Bank, HDFC, SBI, Maruti Suzuki India, ONGC and Airtel saw gains in their market capitalisation (m-cap) during the week ended on Friday. Only two companies, ITC and HUL, recorded losses in their market valuation in the week. The m-cap of Airtel, the latest entrant to the top-10 list, soared by Rs 22,486.25 crore to Rs 2,16,399.25 crore as on Friday last week. The market valuation of HDFC surged Rs 12,338.06 crore to Rs 2,83,185.15 crore and that of State Bank of India (SBI) advanced by Rs 12,128.03 crore to Rs 2,80,541.64 crore. RIL's m-cap zoomed Rs 10,253.62 crore to Rs 5,98,854.67 crore and that of HDFC Bank went up by Rs 10,234.53 crore to Rs 4,73,570.96 crore. The market cap of ONGC jumped Rs 10,009.93 crore to Rs 2,45,563.96 crore, TCS' moved up by Rs 6,412.86 crore to Rs 5,00,145.92 crore and that of Maruti rose by Rs 3,069.13 crore to Rs 2,48,201.06 crore. On the other hand, ITC's m-cap dropped Rs 4,763.02 crore to Rs 3,23,403.50 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs 4,177.45 crore to Rs 2,67,984.09 crore. In the ranking of top-10 firms, RIL remained at the pole position followed by Tata Consultancy Services (TCS), HDFC Bank, ITC, HDFC, SBI, HUL, Maruti, ONGC and Airtel. Last week, the Sensex rose by 528.34 points, or 1.59 per cent while the Nifty was up 129.45 points, or 1.25 per cent.
Posted by

Deregistered cos deposited Rs 17,000 cr post note ban: Govt 06/11/2017

Deregistered cos deposited Rs 17,000 cr post note ban: Govt
06/11/2017 01:32
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Cash deposits worth over Rs 17,000 crore were made and later withdrawn post demonetisation by as many as 35,000 companies, which are now deregistered, the government said as per the PTI report. As it steps up the fight against illicit fund flows, so far names of around 2.24 lakh companies that have been inactive for long have been struck off from the official records and 3.09 lakh directors have been disqualified. To keep a tab on dummy directors being appointed to the boards of corporates, work is on to put in place a mechanism wherein new applications for directorship would be linked with PAN and Aadhaar numbers of the individual concerned. Stating that around 2.24 lakh companies have been struck off till date for remaining inactive for two years or more, an official release said restrictions have been imposed on operation of their bank accounts as well as on sale and transfer of their properties. "Preliminary enquiry on the basis of information received from 56 banks in respect of 35,000 companies involving 58,000 accounts has revealed that an amount of over Rs 17,000 crore was deposited and withdrawn post demonetisation," the release said. In one case, a company which had a negative opening balance on November 8, 2016, deposited and withdrew Rs 2,484 crore post demonetisation, it added. Last November, the government cancelled old Rs 500 and Rs 1,000 currency notes as legal tenders as part of larger efforts to fight the black money problem and corruption. According to the government, one company was having as many as 2,134 accounts. The information regarding such firms have been shared with enforcement authorities for further action. With respect to deregistered companies, state governments have been advised to disallow registration of properties of such entities. The government has initiated steps to disqualify directors who are on the boards of the companies that failed to file annual returns for three financial years -- 2013-14 to 2015-16. While noting that about 3.09 lakh directors have been affected by the action, the government said preliminary enquiry has shown that over 3,000 disqualified directors are "directors in more than 20 companies each, which is beyond the limit prescribed under the law". "With a view to checking the problem of dummy directors, action is underway to seed DIN with PAN and Aadhaar at the stage of DIN application through biometric matching for new applications. The same may be extended to legacy data in due course," the release said. Director Identification Number (DIN) is a unique number assigned to an individual under the Companies Act that allows him or her to serve as a director on the board of a company. "A high level committee has been constituted for suggesting revamp of the disciplinary systems for chartered accountants, company secretaries and cost accountants. "Further, steps are underway for setting up National Financial Reporting Authority (NFRA), an independent body, to check financial statements, prescribe accounting standards and take disciplinary action against errant professionals," the release said. Also, an 'Early Warning System' would be developed under the Serious Fraud Investigation Office (SFIO). The Prime Minister's Office has also constituted a Special Task Force under the joint chairmanship of Revenue Secretary and Corporate Affairs Secretary to oversee the drive against such defaulting companies. The task force has met five times so far, the release said.
Posted by

Higher crude oil prices will worsen fiscal balance: Nomura 06/11/2017


Higher crude oil prices will worsen fiscal balance: Nomura
06/11/2017 00:53
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Indicating adverse macroeconomic impact of rise in crude oil prices, global financial services major Nomura said every USD 10 per barrel rise in the price will worsen India's fiscal balance by 0.1 per cent and current account balance by 0.4 per cent of GDP, reported PTI. "For a net oil importer like India, a sustained rise in crude oil price would have adverse macroeconomic implications," Nomura said in a report. "Higher oil prices are tantamount to a negative terms- of-trade shock that weakens growth, pushes up inflation and deteriorates the twin deficits (current account deficit and fiscal deficit)," it added. The financial services firm noted that while brent oil price should on an average stand at USD 53-54/bbl in the current as well as next fiscal year, current prices have already risen by more than 10 per cent, driven by a mix of demand and supply side factors. On the current account balance front, Nomura has estimated the net impact of rise in crude oil prices would be negative, with "every USD10/bbl rise in crude oil price worsening India's annual current account balance by 0.4 per cent of GDP". At the same time, it also estimates that every USD10/bbl rise in crude oil price would hit the central government's fiscal balance by 0.1 per cent of GDP. "Petrol and diesel prices are now determined by the market, but the government still provides a subsidy that is limited to Rs 12/litre for kerosene and Rs 15/kg for LPG. While noting that its calculations do not take into account any impact on tax collections, "any government efforts to cushion the burden on consumers by lowering the excise duty on petrol and diesel would adversely affect tax revenue collections". "Every Rs 1 per litre reduction in the excise duty on these two fuels (petrol and diesel) lowers government excise collections by Rs 130 billion (0.08 per cent of GDP) annually," Nomura said. Besides, the Japanese financial services firm has also calculated that every USD10/bbl rise in crude oil price would increases CPI inflation by 0.6-0.7 percentage points. "We see that the direct impact of higher oil prices will be visible in the about 3.6 per cent of the CPI basket that comprises diesel and petrol and unregulated liquefied petroleum gas (LPG) segment," the report said. "Higher oil prices also have an indirect impact via higher production and transportation costs and could exert upward pressure on food inflation, at the margin." it added. Observing RBI estimates that for every USD10/bbl rise in oil price, GDP growth is reduced by around 0.15 percentage points, Nomura said economy is effected as rise in inflation due to higher prices could lower real disposable incomes of households and therefore hurt consumer discretionary demand. Further it lowers corporate profit margins due to rising input costs and accordingly impacts investment, among others.
Posted by

Digital transactions shoot up post demonetisation 06/11/2017

Digital transactions shoot up post demonetisation
06/11/2017 00:51
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Digital payment companies have seen a substantial jump in their business as a result of the government's measures towards promoting cashless transactions post demonetisation last year, reported PTI. These firms are likely to further consolidate their business with more incentives for digital transactions. "In the last 12 months, we saw over 3 times growth. Before demonetisation, we were processing monthly transactions of Rs 3,000 crore, which now stands at Rs 6,800 crore across all our verticals," Atom Technologies Managing Director and CEO Dewang Neralla said. The major contributor to this growth was online payments business, he indicated. "Our focus has been largely on the education, travel ticketing financial services, C2G payments and cable and wireless industries and we have seen all round growth both in terms of enrolments as well as transactions. "Payment processing volumes have grown three times to what they were since demonetisation and we still continue to see a healthy growth of around 20 per cent on a month on month basis in transactions in our online payment gateway," he said. The company is targeting to bring into fold over 10 lakh merchants over the next few months, it said. Globally, this is seen as an exciting time for fintech, especially payment processing. According to the Payments Council of India, the growth rate of the digital payments industry, which was earlier in the range of 20-50 per cent, has accelerated post demonetisation to 40-70 per cent. "However, demonetisation is just one of the milestones towards our country's cashless journey and not the final destination. It conveyed a strong psychological message to our countrymen that cash is not welcome and digitisation of cash is inevitable. This also resulted in doubling of the number of PoS machines in just one year...," Payments Council of India Chairman Navin Surya pointed out. However, he said, for further accelerating this growth momentum and moving towards a less cash economy, both the government and regulators need to continue efforts. "...seamless access to payments network and other critical payments infrastructure like UPI and RTGS, among others ...will make sure that incentives continue to grow for digital transactions. These critical steps can drive our current industry growth of 10 per cent transactions to 50 per cent in the next 5 years," he added. According to Bhavik Vasa Chief Growth Officer, EbixCash, post-demonetisation, the rhetoric has now changed from bank versus non-bank or wallet versus bank, with the industry witnessing an increased mind share for its digital and cashless journey. "At Ebix ItzCash we now have more than 2 lakh retail touch points across the country, our ability to be an omni-channel player, has helped us clock a growth of 35-40 per cent across sectors," Vasa said. Most digital players in the industry have made multi-fold investments in the sector in the last one year in infra, brand, marketing, creating awareness. Ebix Inc CEO Robin Raina has further committed USD 200 million fund for investments and growth in India.
Posted by

Rupee extends rally against greenback on ease of doing biz 01/11/2017


Rupee extends rally against greenback on ease of doing biz
01/11/2017 13:25
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
The Indian Rupee continued gaining momentum against the US dollar on Wednesday amid weak dollar demand by exporters and banks and strong rally in equity market after India jumped 30 spots to 100 in World Bank’s ease of doing business ranking for 2018.
According to forex dealers, dollar was under pressure ahead of Federal Reserve two-day policy meeting at which it is expected to leave rates unchanged. Most market participants expect the US central bank to resume hiking rates in December 2017.
At the Interbank Foreign Exchange Market, the local currency was up by 05 paise at 64.75 per dollar against a previous close of 64.97 per dollar at 13:25 hours. During the day’s trade so far, the rupee touched an intra-day high of 64.71 after making positive opening at 64.91.
Adding to it, firmness in the domestic equity market further boosted Rupee upward movement. Meanwhile, the BSE SENSEX was trading at 33625.03, up by 411.9 points or by 1.24 per cent, and the NSE Nifty was at 10441.4, up by 106.1 points or by 1.03 per cent.
Posted by

40% seats on India's bullet train route go vacant: Reports 01/11/2017


40% seats on India's bullet train route go vacant: Reports
01/11/2017 12:03
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
A report has revealed that over 40 per cent of seats on all the trains on the Mumbai and Ahmedabad sector go vacant causing huge losses to Western Railway.
According to RTI replies received by Mumbai activist Anil Galgali, only in the past one quarter, the Western Railway's staggering losses on this sector is nearly Rs 30 crore, or around Rs. 10 crore per month.
Commenting on the issue, Mumbai activist Anil Galgali told the media, "The Indian government is over-enthusiastic and plans to spend more than Rs 1 lakh crore on the Bullet Train project, but it has not done its homework properly."
Also, WR's Chief Commercial Manager Manjeet Singh said that betweenJuly 1-September 30, there were 32 mail/express serving this sector with a total seating capacity of 735,630 seats on the Mumbai-Ahmedabad sector. Of these, only 441,795 seats were booked during that period generating a revenue of Rs 30,16,24,623 against the total estimated expected income of Rs 44,29,08,220 - incurring a huge loss of Rs 14,12,83,597 in the past quarter.
Posted by

Centre allocated Rs 109 cr to promote tourism projects: Pondy 01/11/2017

Centre allocated Rs 109 cr to promote tourism projects: Pondy
01/11/2017 11:26
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
Puducherry Chief Minister V Narayanasamy today said the Centre has earmarked Rs 109 crores to promote tourism projects under 'Swadesh Darshan' in the Union Territory.
Addressing public on the occasion of the 63rd Liberation (De facto) day of Puducherry here, he said, "Tourism has been given priority by the administration and the government intended to promote Puducherry as a vibrant tourism destination."
The Union Tourism Ministry has already earmarked Rs 109 crores for Puducherry to promote heritage and spiritual tourism under 'Swadesh Darshan' scheme.
He futher said the Rs 1,828 crore smart project being implemented in Puducherry through a specially floated statutory organisation called Puducherry Smart City Project limited would be yet another feather in the cap of the administration.
Earlier, the Chief Minister took salute at a march past presented by various contingents.
Speaker V Vaithilingam,Ministers, legislators of the ruling Congress, the French Consul General Catherine Suard, Director General of Police S K Gautam, Chief Secretary Manoj Parida and secretaries of various departments of the government were also present.
Puducherry and its outlying regions of Karaikal, Mahe and Yanam became free from the French rule on November 1, 1954.
Posted by
Subscribe to: Posts (Atom)