Category Archives: Business News

Moon Receives Report on Economic Policies for Lunar New Year

[Economy] :
Economy and Finance Minister Hong Nam-ki on Wednesday reported to President Moon Jae-in on economic policies to stabilize public livelihoods ahead of the Lunar New Year holiday. 

According to Presidential Spokesman Kim Eui-kyeom, Hong reported on plans to provide 90 billion won to regions reeling …

[more…]

from News – English [KBS WORLD Radio] | Economy http://bit.ly/2CpwI7j

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Explainer: What is an interim budget? What FM Jaitley can and cannot do

This will be the last Budget of the current BJP-led NDA government before the 2019 General Elections

from Economy & Policy http://bit.ly/2TMD4oa

Life insurers see marginal growth in first-year premium collection of FY19

The private insurers reported a steady growth of 23.33% with their first-year business premium

from Companies http://bit.ly/2FtojU9

Suven Life Sciences secures product patents from Australia and Singapore

The granted claims of the patents include the class of selective 5-HT4 and M1 PAM compounds respectively and are being developed as therapeutic agents for neurodegenerative disorders such as for the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia etc.

from News-CM http://bit.ly/2VYE6zh

Positive market breadth

Volatility struck bourses in early afternoon trade as the key benchmark indices once again regained positive zone after sliding in negative zone in mid-morning trade. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 54.48 points or 0.15% at 36,372.81. The Nifty 50 index was up 18.95 points or 0.17% at 10,905.75. Shares of index heavyweight Reliance Industries rose. Most realty stocks gained.

from News-CM http://bit.ly/2QQJy3B

By looking at the election planned in near future, for lump sum investment which MF is better? Will this period will give more returns?

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from A place for Indians to discuss and evaluate Investments http://bit.ly/2TR8Z6T

BJP wants expansionary economic policy ahead of 2019 polls

Weak consumer spending and the fragile farm sector have already been a drag on economic growth, creating a headache for Modi as he struggles to meet ambitious job creation targets.

from Business News http://bit.ly/2Cq3rta

GlaxoSmithKline Consumer Healthcare Q3 PAT seen up 17.1% YoY to Rs. 191.6 cr: Prabhudas Lilladher

GlaxoSmithKline Consumer Healthcare Q3 PAT seen up 17.1% YoY to Rs. 191.6 cr: Prabhudas Lilladher Net Sales are expected to increase by 10.5 percent Y-o-Y (down 10.1 percent Q-o-Q) to Rs. 1,143.3 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2RzHVN7

Apple replaced 11 million batteries in 2018, 10 times more than usual: Report

Apple replaced 11 million batteries in 2018, 10 times more than usual: Report Cook in an all-hands meeting stated that the $29 battery replacement program was a reason for many customers not upgrading to the newer iPhones

from Moneycontrol Latest News http://bit.ly/2Cnx3HG

Emami Q3 PAT may dip 1.9% YoY to Rs. 144.3 cr: Prabhudas Lilladher

Emami Q3 PAT may dip 1.9% YoY to Rs. 144.3 cr: Prabhudas Lilladher Net Sales are expected to increase by 7.5 percent Y-o-Y (up 29.5 percent Q-o-Q) to Rs. 813.4 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2Cmv3zi

Future Retail Q3 PAT seen up 20.3% YoY to Rs. 220.4 cr: Prabhudas Lilladher

Future Retail Q3 PAT seen up 20.3% YoY to Rs. 220.4 cr: Prabhudas Lilladher Net Sales are expected to increase by 11.5 percent Y-o-Y (up 6.2 percent Q-o-Q) to Rs. 5,233.1 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2Ryg6oj

Dabur India Q3 PAT seen up 10% YoY to Rs. 366.3 cr: Prabhudas Lilladher

Dabur India Q3 PAT seen up 10% YoY to Rs. 366.3 cr: Prabhudas Lilladher Net Sales are expected to increase by 9.5 percent Y-o-Y (up 1.3 percent Q-o-Q) to Rs. 2,153.3 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2CnQsYQ

Rupee near day#39;s low, trades at 71.16 per dollar

Rupee near day#39;s low, trades at 71.16 per dollar The Indian rupee opened at 71.06 per dollar on Wednesday versus 71.04 yesterday.

from Moneycontrol Latest News http://bit.ly/2Ryg9R1

Colgate Palmolive Q3 PAT seen up 6.7% YoY to Rs. 182.1 cr: Prabhudas Lilladher

Colgate Palmolive Q3 PAT seen up 6.7% YoY to Rs. 182.1 cr: Prabhudas Lilladher Net Sales are expected to increase by 6.5 percent Y-o-Y (down 5.7 percent Q-o-Q) to Rs. 1,100.9 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2RzsTXp

Britannia Industries Q3 PAT seen up 18.4% YoY to Rs. 295 cr: Prabhudas Lilladher

Britannia Industries Q3 PAT seen up 18.4% YoY to Rs. 295 cr: Prabhudas Lilladher Net Sales are expected to increase by 15 percent Y-o-Y (up 2.5 percent Q-o-Q) to Rs. 2,772.7 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2CnQsbi

Britain#39;s FTSE 100 seen lower after Theresa May#39;s Brexit deal crush

Britain#39;s FTSE 100 seen lower after Theresa May#39;s Brexit deal crush The FTSE 100 was seen opening 3 points lower and underperforming its European peers, according to financial spreadbetters at IG.

from Moneycontrol Latest News http://bit.ly/2Cmvutq

Karnataka political turmoil: Youth Congress workers protest outside Haryana resort

Karnataka political turmoil: Youth Congress workers protest outside Haryana resort Union minister D V Sadananda Gowda had said on January 15 that the BJP would stake claim to power in Karnataka if the Congress-JDS coalition government falls.

from Moneycontrol Latest News http://bit.ly/2RzHXVf

No end to commuter woes as BEST bus strike in Mumbai continues

No end to commuter woes as BEST bus strike in Mumbai continues The HC had on Tuesday directed the BEST workers#39; union to take a final decision on the withdrawal of its ongoing strike and inform the court on Wednesday.

from Moneycontrol Latest News http://bit.ly/2Cq3Nju

Burger Singh plans to hire 600 people this year

The Gurugram-based company is on the lookout for a chief operating officer and a chief financial officer, positions that it wants to fill in the next six months.

from Startups-Small Biz-Economic Times http://bit.ly/2FrPIpL

Vietnam’s newest airline Bamboo takes first flight

Vietnam’s newest commercial carrier Bamboo Airways took flight Wednesday, officially entering Southeast Asia’s crowded aviation sector where it will face stiff competition from established players.

from Latest http://bit.ly/2CpsMTP

Petrol price slashes, diesel becomes costlier: Here’s how to check today’s rates

In Delhi, petrol prices fell to Rs 70.33 as against Rs 70.41 on Tuesday whereas diesel price rose to Rs 64.59 as compared to Rs 64.47 yesterday.

from Business News http://bit.ly/2FxnsSk

In election year, BJP is okay with Modi govt living dangerously

NEW DELHI: Prime Minister Narendra Modi’s party is in favour of an expansionary economic policy and does not consider the government’s plan to keep the fiscal deficit to 3.3 percent of GDP as “sacrosanct”, a party spokesman told Reuters.Ahead of a general election that must be held by May and after a string of losses in recent state polls, the government run by BJP has announced several stimulus measures for the countryside where millions of farmers are grappling with low crop prices. Other fiscal moves have been aimed at helping small businesses.The measures are likely to be a drain on finances in Asia’s third-biggest economy, though the Modi administration is expected to get the Reserve Bank of India to agree to transfer an interim dividend of Rs 300-400 lakh crore ($4.32 billion-$5.8 billion) to the government by March, Reuters reported last week quoting sources.Weak consumer spending and the fragile farm sector have already been a drag on economic growth, creating a headache for Modi as he struggles to meet ambitious job creation targets.India lost 11 million jobs last year, with around 83 percent in rural areas, according to independent think-tank the Centre for Monitoring Indian Economy, as operational costs surged for small businesses. Those costs were boosted by the launch of a national sales tax in 2017 and the economic impact of an earlier ban on high value currency notes.”There’s a demand, there’s a debate – all my colleagues are saying what’s the need of keeping the fiscal deficit in check when there is a distress in a particular sector,” Gopal Krishna Agarwal, a spokesman for the BJP, said referring to the farm sector.”Even think-tanks associated with us are talking in this sense. Very few people domestically are talking about fiscal prudence. Only foreign think-tanks are talking fiscal prudence, fiscal prudence. I strongly believe an expansionary policy can benefit the party.”Agarwal, a chartered accountant who is a director at state-run Bank of Baroda and a member of a government committee on small and medium-sized businesses, said Modi was aware of his party colleagues’ thinking but that no final decision had been taken.DS Malik, a spokesman for the Ministry of Finance, did not immediately respond to calls and emails seeking comment. Finance Minister Arun Jaitley, who is in the United States for a medical check-up, said in a Facebook post on Tuesday that India’s “fiscal discipline during the past five years has been amongst the best as compared to any preceding period”.Agarwal said the government understands that farmers are in distress and that directly transferring money to their bank accounts was an option to help them out. He said the government was, however, trying to figure out how to distribute funds to landless tillers to make sure any such transfer programme was effective and didn’t just benefit those with land.The government is studying a programme launched by the eastern state of Odisha under which farmers with landholdings of up to 5 acres would get cash assistance to buy seeds, pesticides, fertilisers and pay for labour. Sharecroppers, who cultivate rented land will also get the benefits, which include life insurance coverage.Agarwal said Modi and many financial institutions were not in favour of waiving farm loans, as done by states recently won by the main opposition Congress party, because doing so mainly helps banks and not so much farmers in duress.”There’s definitely a suggestion to give interest-free loans to farmers. Banks won’t have to pay, it has to be incorporated into the budget,” he said.”And what’s the so sacrosanct issue about keeping the fiscal deficit at less than 3.5 percent? If you don’t adopt an expansionary economic policy, then the government alone can’t create demand by just spending on infrastructure. It has to come from both public and the private sector. The economy will grow only when demand will be created.”He said increasing the income tax exemption limit for individuals was also being considered for the interim budget to be presented on Feb. 1 by Jaitley.William Foster, vice president at Moody’s Investors Service, said that it expects the country’s fiscal deficit to slip to 3.4 of GDP this fiscal year ending March 31 due to revenue shortfalls from goods and services tax, lower excise duty and below-target receipts from sale of government assets.”Increased expenditure on income transfers, farm loan waivers or other forms of subsidies would weigh further on government finances,” Foster told Reuters.

from Economic Times http://bit.ly/2VYTnAr

D-Street Buzz: Bank Nifty in green led by IDFC First Bank; FMCG drags, metals lose shine

Sandip Das The top gainers from NSE included Indiabulls Housing Finance, Grasim Industries, Wipro, GAIL India and IndusInd Bank while the top losers included UPL, JSW Steel, HUL, Asian Paints and Bajaj Finance.

from Moneycontrol Latest News http://bit.ly/2McPPG2

Analysts find these stocks richly valued; can they still deliver?

Equity benchmarks may have come off over 6 per cent from August highs, but most consumer-oriented names are still trading at higher valuations. According to analysts, Hindustan Unilever (HUL), Nestle, Britannia Industries, Avenue Supermarts and Asian Paints, with PE multiples of over 50 times, are still rich against their 5-year averages, suggesting limited upside for the stocks, going ahead. Data suggest that forward P/E multiple based on FY20 earnings (FY20E P/E) estimate for HUL stands at 52 times against trailing five-year average of 44 times. This is even as shares of HUL are off 4.30 per cent from their 52-week high of Rs 1,870.50. The stock has potential to deliver 5 per cent return in coming 12 months, ETNow reported.

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Price-to-earnings ratio is a valuation ratio that measures the company’s current market price as against its earnings per share. The ratio is also known earnings multiple or price multiple. Take Nestle, whose FY20E P/E is hovering at 56 times against five-year average multiple of 64 times. The scrip slipped 3.60 per cent from its 52-week high levels of Rs 11,700.05. The stock may remain flat over the next 1 year, according to the report.

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Which stocks trade at high valuation and where do analysts see these stocks one year from now? @jayeshkhilnani tell… https://t.co/WDrQHRhk7r— ET NOW (@ETNOWlive) 1547610924000

D-Mart owner Avenue Supermarts is next on the list, which has plunged 18 per cent from its 52-week high levels. Forward multiples of the company is seen at 68 times with 0.60 per cent fall in coming months. Five-year average P/E figure is not available for D-Mart as the company got listed in March 2017.

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With a share price of Rs 3,182.50, Britannia is hovering at a five-year average P/E of 42 times as against FY20E P/E of 54 times. Shares of the company have plunged over 8 per cent from their 52-week high of Rs 1,696.15. Market analysts see another 1.40 per cent downside in the FMCG major.

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Shares of Asian Paints have slipped over 5.70 per cent from their 52-week high Rs 1,488.60. FY20E P/E of Asian Paints stands at 50 times against five-year average P/E of 51 times. There are expectations that the stock can slip another 4 per cent from the current levels.

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from Economic Times http://bit.ly/2QOfOEB

What’s your top picks in ELSS funds? Looking for lump sum investment.

Looking for tax saving funds for investment of around 50,000 in lump sum. this is solely for the purpose of investment under 80C.

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from A place for Indians to discuss and evaluate Investments http://bit.ly/2TMCxCG

Why British Parliament voted against Brexit

Why British Parliament voted against Brexit Prime Minister May#39;s defeat in the Parliament on January 15 was unprecedented, with even her own party members voting against her.

from Moneycontrol Latest News http://bit.ly/2svRYno

In 2019, look for alpha in mid, smallcaps: Manish Sonthalia

There is a whole lot of passive-isation happening in the largecap space, Manish Sonthalia, Chief Investment 67552154

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Officer and the Director of the India Zen Fund, Motilal Oswal AM-PMS, tells ET Now.Edited excerpts:How are you dealing with the market volatility? On one side, there is the promise that good companies will make a comeback but on the other side, there is serious price erosion in Eicher, Page Industries or Asian Paints. You focus on quality at reasonable price, but that theme is getting challenged.There are no shortcuts and you do not change your strategies when the mood of the market changes. It is as simple as that. The long-term trajectory on earnings on these companies remain perfectly intact if you are not seeing a major sector rotation like the capex cycle picking up. The valuations are not going to fall because there is simply too much of capital to be deployed.When stocks are cheap, they are cheap for a reason and we have seen many of these names lose 70%, 80%, 90% of the market cap on the garb of them being cheap. It is better to buy quality provided you understand the business and the free cash flow generation ability on these businesses for long periods of time. One will have to live through the volatility and I do not think changing strategies really work. There was a disruptive change in a company like Eicher a year and a half ago and business slowed down. If a quality company which has got excellent cash flow also corrects by 30-35%, it just makes you wonder!The whole point is that if the stock has gone up from say Rs 300-400 to Rs 32,000 and it has come down to Rs 20,000, now the valuations are 20 times one year forward numbers. All these years, the valuations were 40 times, 50 times one year forward numbers. The move from Rs 500 to Rs 20,000 has got established and of course it went to Rs 32,000 and has come down to Rs 20,000, but is it cast in stone that the volumes are never going to cross 60,000? I would not believe so. 9,25,000 guidance obviously is due to reasons like insurance hikes, ABS and BS transition and these would have an impact on the cost price and that is having an impact on their demand. Of course, these would be temporary. You have a very strong marriage season this year and UP is one of the very big new markets for Eicher which is coming in. I would tend to believe that even if you see a de-growth for Eicher this year, if we look at FY21, a 15% type volume growth is very much doable, without taking into perspective anything on the export front.Nothing really is happening on the export front and so valuations have come down. The stock has now moved from Rs 500 to Rs 20,000. At 20 times one year forward numbers, you cannot really argue that the valuations are expensive. During the journey from Rs 500 to Rs 20,000, it appeared the valuations were very expensive. It went to Rs 32,000 and that is why it has seen a correction of 35%.But from here on, if the 15% growth comes through, then you will see a slow and steady upmove in Eicher. You would require six months of timeframe to gauge whether a product has really succeeded or failed. The initial euphoria is always there when a new product is launched. For shorter-term investors, it is really a game of patience. Why would you put your money into Eicher? What is the timeframe when you see that a meaningful growth visibility would come back for Eicher because right now clearly that is a miss?There is nothing called short-term investing. It is always short-term trading. Let us assume that somebody is looking at the next one and a half to two years. Even buying at these prices should make you money in these levels but if anything very significantly different can happen between now and the next six months, a lot of it will be dependent on how this whole money into the rural parts of the economy flows through because we are looking at an election year. All these things are ifs and buts for the short term. But definitely once all these transition measures are taken, it is not that the journey for motorcycles in terms of volume growth is over. Of course 11-12% volume growth over the last decade will weigh down to something like 7% odd and within that, the 350 CC plus segment definitely has some room. Of course, there is going to be increased competition but it is an evolving story. I would not believe that Eicher is done with. It is just a stop in a long journey ahead for us but there are no shortcuts for the next six, nine months. If one wants to fillip through for the next six-nine months, he or she may be free to do so. You can get out but nobody is going to tell you when to get in and you will only realise that in hindsight that the price would have moved up and you would have exited at a lower price.Are you saying that there will be no margin hit on fuel sales for oil marketing companies. What is your view largely on the oil and gas sector?They are making some very decent margins on the marketing side now. But this Re 1 cess absorption or Re 1 duty absorption has taken the faith away from all oil marketing companies. In terms of PE re-rating, the amount of market capitalisation loss that one has seen in the oil and gas sector is not funny. It is just Re 1 and that too for a few days and that has eroded close to Rs 2 lakh crore worth of market from the state owned oil marketing companies. Of course coming to fundamentals, there is deep value. There is no doubt about it. You are trading at valuations of one time price to book and maybe three, four, five, at best six times price to earnings depending on how much of inventory losses come through on account of the crude correction as well as the forex impact. I would tend to believe that companies like HPCL, etc, would make something between 5500 odd crores, everything said and done for the next three years at least and then you are looking at a capex for all the oil marketing companies. Net-net. I would want to believe that there is some very deep value in oil marketing companies but sentiments have got soured purely on account of PE de-rating and it would take some time for the PE to re-rate.Also there has to be an assurance coming from the government side on this front because investors do not want to believe this whole confusion about decontrol and control, just because of that Re 1 duty absorption that was forced on OMCs for a couple of days. Then oil really tanked and they are now making some supernormal margins on the marketing side but the damage has been done. Fundamentals are perfectly intact.What about financials? The general consensus is that you should now buy corporate banks as they have CASA, money to lend. Retail banks are expensive, consumer is slowing down and NPA delinquency will start. Would you buy corporate banks?I believe this and in fact we have bought ICICI Bank. We have taken money off Bajaj Finance. This is an environment where banks will be at an advantage over non-banking finance companies and you are right when you are saying the retail focussed banks have really done very well over the last few years. They may go through time correction. There is nothing wrong with that but even for the corporate banks that we talk about –Axis and ICICI Bank — 40-50% of their book is still retail. I firmly believe that the corporate NPA cycle has peaked and valuations are 1.5 times price to book for ICICI Bank. Remember. they have some invaluable subsidiaries with them; the life insurance business of ICICI or the general insurance business of ICICI Bank. Insurance is an infinite ROA business. You require capital for a period of 10 years and after that it is free cash flow machine forever. If core banking book starts to revive, and you are getting at 1.5 times price to book, it is certainly better than a Bajaj Finance at six times price to book where 40% growth will not come. Bajaj Finance management are guiding 20-25% growth rate and for that to pay a six times price to book and a 40 PE seems slightly out of sync. So, there is definitely a case for corporate banks. We have incorporated one of them in our portfolio.There was a bit of a macro risk in 2018. Only select largecaps managed to outperform. Now that macro fears have receded, how do you think the general mood will change?2019 is going to be an year of the emerging markets. Everybody is fixated on a growth in a trade war environment between US and China. The US Fed is now starting to sound very dovish and no balance sheet shrinkage seems to be coming in from the European Union. With WPI and CPI numbers well below the RBI trajectory, we are looking at a rate cut situation rather than a rate rise situation. The interest rates cycle for the moment may look slightly toppish and in that sort of an environment, money flows from developed markets to emerging markets. Emerging markets are to be bought when there is chaos all around and there is chaos around all emerging markets in 2018. One would have to figure out who has fallen more. In this sort of an environment when so much of domestic capital has flown into the largecap space and so much of domestic capital has been taken out of the mid and smallcap space, if one is talking about a revival in corporate profits — 50% of corporate profits is represented through Nifty50 stocks but the balance 50% is represented through the broader markets and they have seen a massive correction. The small cap index itself is down some 30% for 2018. That sort of cut with the earnings cycle reviving would want me to believe that there is more money on the table in the case of mid and smallcaps as opposed to the largecaps because the latter will give 9-10-11-12% type of returns and everything has been priced in for the next one or two years.There is nothing called cheap in the markets in the largecap space — be it consumer, private banks, or metals space. But there is value across the table in the mid and the smallcap space. One only needs courage to put money out here but there is greater comfort in mind when it comes to largecap investing and not so much so in case of mid and small cap investing. There is a whole lot of passive-isation that is happening in the largecap space. If that be the case, then how is one supposed to generate an alpha? It will come in the mid and the smallcap space so that is the area to focus on in 2019.

from Economic Times http://bit.ly/2RLQl3b

Asian Paints Q3 PAT may dip 0.4% YoY to Rs. 565 cr: Prabhudas Lilladher

Asian Paints Q3 PAT may dip 0.4% YoY to Rs. 565 cr: Prabhudas Lilladher Net Sales are expected to increase by 11.5 percent Y-o-Y (up 2.4 percent Q-o-Q) to Rs. 4,750.5 crore, according to Prabhudas Lilladher.

from Moneycontrol Latest News http://bit.ly/2MbGoGR

Here are the best productivity laptops seen at CES 2019

Here are the best productivity laptops seen at CES 2019 We’ve already seen our fair share of laptops that have impressed all of us on the gaming front, so let’s look at some of the clear winners on the productivity end.

from Moneycontrol Latest News http://bit.ly/2svRQEq