Friday, January 11, 2019

100-Word Take| The government may have finally struck gold with the Gold Monetisation Scheme

100-Word Take| The government may have finally struck gold with the Gold Monetisation Scheme
100-Word Take| The government may have finally struck gold with the Gold Monetisation Scheme
100-Word Take| The government may have finally struck gold with the Gold Monetisation Scheme The changes are a win-win for both as temples will earn a tax-free dividend on their hoard while the government gets the gold it needs.

Source: MC

May move into a more positive period for global markets: HSBC#39;s Bill Maldonado

May move into a more positive period for global markets: HSBC#39;s Bill Maldonado
May move into a more positive period for global markets: HSBC#39;s Bill Maldonado
May move into a more positive period for global markets: HSBC#39;s Bill Maldonado I think for international investors, the message is that one needs to be much more selective in India, Maldonado said.

Source: MC

P Chidambaram credits Congress state finance ministers for sorting out GST mess

P Chidambaram credits Congress state finance ministers for sorting out GST mess
P Chidambaram credits Congress state finance ministers for sorting out GST mess
P Chidambaram credits Congress state finance ministers for sorting out GST mess Taking to Twitter, he lauded the efforts of the six Congress finance ministers who were actively helping the GST Council.

Source: MC

#39;Q3 earnings expected to be a mixed bag; could be company-specific#39;

#39;Q3 earnings expected to be a mixed bag; could be company-specific#39;
#39;Q3 earnings expected to be a mixed bag; could be company-specific#39;
Dheeraj Singh The predominant threats would be sharp rise in crude prices, trade war and retaliatory tariffs amongst the leading economies of the world, and a sharp rise in interest rates across the world

Source: MC

RLD#39;s participation in UP #39;mahagathbandhan#39; presser remains unclear

RLD#39;s participation in UP #39;mahagathbandhan#39; presser remains unclear
RLD#39;s participation in UP #39;mahagathbandhan#39; presser remains unclear
RLD#39;s participation in UP #39;mahagathbandhan#39; presser remains unclear On January 9, Jayant Chaudhary had met Akhilesh in Lucknow and held political discussions for over an hour, but both sides had declined to share details.

Source: MC

D-Street Buzz: Infra, realty stocks fall led by Bharti Airtel, Unitech; Tata Motors sheds 2%

D-Street Buzz: Infra, realty stocks fall led by Bharti Airtel, Unitech; Tata Motors sheds 2%
D-Street Buzz: Infra, realty stocks fall led by Bharti Airtel, Unitech; Tata Motors sheds 2%
D-Street Buzz: Infra, realty stocks fall led by Bharti Airtel, Unitech; Tata Motors sheds 2% The breadth of the market favoured the declines with 647 stocks advancing and 973 declining while 440 remained unchanged. On the BSE, 965 stocks advanced, 1291 declined and 168 remained unchanged.

Source: MC

India takes EU to WTO#39;s safeguard committee over duty on steel products

India takes EU to WTO#39;s safeguard committee over duty on steel products
India takes EU to WTO#39;s safeguard committee over duty on steel products
India takes EU to WTO#39;s safeguard committee over duty on steel products Against the US move to impose high customs duties on certain steel and aluminium products, the EU in July last year proposed imposition of definitive safeguard duties to protect their industry against a surge of imports.

Source: MC

China to set lower GDP growth target of 6-6.5% in 2019: Sources

China to set lower GDP growth target of 6-6.5% in 2019: Sources
China to set lower GDP growth target of 6-6.5% in 2019: Sources
China to set lower GDP growth target of 6-6.5% in 2019: Sources The proposed target, to be unveiled at the annual parliamentary session in March, was endorsed by top leaders at the annual closed-door Central Economic Work Conference in mid-December, according to four sources with knowledge of the meeting#39;s outcome.

Source: MC

Weekly Tactical Pick: Yes Bank

Weekly Tactical Pick: Yes Bank
Weekly Tactical Pick: Yes Bank
Weekly Tactical Pick: Yes Bank Even if one fully provides for ILFS and all other exposure that are under various dispensations, the historic price-to-adjusted book still looks reasonable (at 2.5 times), especially if there is visibility after the top management rejig

Source: MC

IT would lead the market - e paper - english news paper today - news headlines today

IT would lead the market - e paper - english news paper today - news headlines today
IT would lead the market

The Sensex shed 106.41 points or 0.29 per cent to settle at 36,106.50, while the Nifty fell 33.55 points or 0.31 per cent to close at 10,821.60. Both mid-cap and Small-cap indexes ended marginally higher.

Among the sectoral indices, the Oil & Gas (-0.81 per cent), the Bankex (-0.75 per cent), the Finance (-0.44 per cent) underperformed the Sensex, while Consumer Durables (+0.71 per cent), Capital Goods (+0.38 per cent), the Power (+0.31 per cent) outperformed the Sensex. IndusInd Bank (-2.36 per cent), Kotak Mahindra Bank (-1.42 per cent), ONGC (-1.37 per cent), Axis Bank (-1.05 per cent), HDFC (-0.89 per cent) and Hero MotoCorp (-0.86 per cent) were the major losers.

Tata Motors (+1.34 per cent), NTPC (+1.13 per cent), Mahindra & Mahindra (+0.99 per cent), Bajaj Auto (+0.86 per cent) and Bharti Airtel (+0.63 per cent) were the major gainers. Crude oil prices jum-ped about 5 per cent after US-China trade talks rai-sed hopes of easing tensions. Production cuts led by the Organisation of the Petroleum Exporting Countries was also a positive sign.

Technical view

Sameet Chavan, chief analyst-technical and derivatives at Angel Broking, “Today was a day of boredom or in technical terms we can call it as a consolidation. The intraday price action does not give any indication as the day turned out to be the lackluster one after Wednesday’s massive swings. It seems that markets are awaiting some triggers to confirm these patterns. At upward side, a move beyond 10,870 would unfold the rally towards 10,940 and above.”

“The recent driver ‘banking’ saw some profit booking after ‘Indusind Bank’ spoiling the mood post its quarterly numbers. Also, there was no major action seen in other heavyweight peer counters and hence, markets were unable to cross hurdles. Going ahead, aggressive bets can be taken only after a breakout from the above levels,” he added.

Market view

Jayant Manglik, president of Religare Broking said that the mrkets remained sideways for yet another session and lost nearly half a per cent. Participants preferred to sit on sidelines in absence of fresh trigger. Mostly sectoral indices traded in tandem with the benchmark index and settled marginally lower.

Markets will react to the TCS results in early trades on Friday and then anxiety of another IT major, Infosys results would take over. In short, IT pack would lead the market in the next session.

—Ashwin Punnen

IT would lead the market

Source: EP

TCS net profit rises 24%; UK tops revenue growth - e paper - english news paper today - news headlines today

TCS net profit rises 24%; UK tops revenue growth - e paper - english news paper today - news headlines today
TCS net profit rises 24%; UK tops revenue growth
City: 

India’s tech flagship, Tata Consultancy Services, has opened the third earning quarter season for the industry on Thursday posting numbers that met analysts’ and market expectations.

TCS reported a 24 per cent year-on-year growth in its third quarter (October-December) net profit at Rs 8,105 crore, against Rs 6,531 crore in the corresponding quarter last year. On a quarter-on-quarter comparison, its net profit grew 2.58 per cent. During the period, the company raked in total revenues of Rs 37,338 crore, an annual increase of 20.8 per cent and a QoQ increase of 1.3 per cent.

Rajesh Gopinathan, chief executive officer and managing director of TCS, said, “We are wrapping up 2018 with a strong revenue growth of 12.1 per cent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies. The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognise our differentiated capabilities and are picking us for their growth and transformation programmes.”

The company’s revenue in constant currency terms increased 12.1 per cent YoY, the highest in 14 quarters while the constant currency revenue growth was 1.8 per cent QoQ. The bottomline growth was driven by other income (up 59 per cent QoQ) but limited by weak operational performance.

Revenue in dollar terms was higher by 0.67 per cent QoQ at $5,250 million in Q3FY19 and constant currency growth stood at 1.8 per cent against 3.7 percent in the previous quarter.

Also, TCS board has declared an interim dividend of Rs 4 per equity share.

Offering a commentary on performances of various verticals the company said, revenues from BFSI (Banking, Financial Services and Insurance) 0.5 per cent QoQ to Rs 14,722 crore, while its Ebit fell 4 per cent to Rs 4,021 crore. Manufacturing revenue grew 1 per cent to Rs 3,958 crore against Rs 3,919 crore during the previous quarter. Manufacturing Ebit grew 6.6 per cent at Rs 1,162 crore. Revenue from retail vertical has grown 1.6 per cent at Rs 6,994 crore against Rs 6,348 crore quarter-on-quarter. Retail Ebit fell 4 per cent at Rs 1,726 crore quarter-on-quarter. The communication and media vertical brought in revenue of Rs 6,090 crore, a 1 per cent increase over Rs 6,009 crore QoQ.

The company’s key growth was led by UK (+25.1 per cent), Europe (+17.6 per cent), and Asia Pacific (+12.6 per cent). North America grew 8.2 per cent, India grew 9.7 per cent and Latin America grew 7.6 per cent.

When the industry is generally following a

job-less growth regime, TCS has reported an impressive net addition 6,827 people during Q3, taking the total employee strength to 417,929.

TCS net profit rises 24%; UK tops revenue growth

Source: EP