Profit street blog | stock and commodity market news

Anticipate that development will moderate in the following 2-4 quarters because of  #GST: L&T's R Shankar Raman Taking a gander at all the nations that have executed it from their inheritance tax collection structures, all have taken a plunge in development for two to four quarters, said R Shankar Raman, CFO, Larsen and Toubro. In a selective, CNBC'S Akiko Fujita made up for lost time with R Shankar Raman, CFO, Larsen and Toubro to get some information about the Modi government's greatest expense change – products and enterprises assess (GST) and the effect of that on his organization and the perspectives of India Inc. He stated, India Inc is content with the change subjects/changes taken up by Modi government yet just stressed over speed of making an interpretation of the subjects into activities. "The pace at which the subjects were taken off, to the majority of our psyches - it resembled homework of usage has additionally been tended to yet

Goods and Services Tax (GST) was implemented at midnight in the ceremony at the Parliament Central Hall, New Delhi. As the country's biggest tax reform, Goods and Services tax (GST) was implemented at midnight, the ceremony at the Parliament Central Hall saw Prime Minister Narendra Modi delivering an elaborate speech, ushering in the "one-tax-one-nation" regime from July 1. Here are 10 key highlights of Narendra Modi's GST speech: #  Referring to the Central Parliament hall as a "pious", Modi said that the nation will collectively usher the GST in the Parliament Hall. #  He said that the GST is a unique example of India's "cooperative federalism", implemented by the "collective efforts of all." #  He assured that the GST will keep the interests of the poor as paramount, making it not just an economic reform but also a social reform. It will benefit the poor as GST exempts traders with turnover less than Rs. 20 lakh and ha

नई दिल्ली। वस्तु एवं सेवा कर (जीएसटी) लागू होने से कुछ दिन पहले केंद्र सरकार ने जीएसटी कानून की कई धाराओं और नियमों की अधिसूचना जारी कर दी है।इन नियमों के तहत परोक्ष करों के मौजूदा असेसी को जीएसटी के लिए पंजीकरण कराना अनिवार्य होगा। देश में जीएसटी को एक जुलाई से लागू किया जा रहा है।इसके प्रभाव में आने के बाद केंद्रीय उत्पाद शुल्क, सेवा कर और राज्यों के वैट जैसे कई परोक्ष कर समाप्त हो जाएंगे। वित्त मंत्रालय ने जीएसटी कानून की 18 धाराओं को अधिसूचित कर दिया है। ये धाराएं केंद्रीय उत्पाद शुल्क, सेवा कर और वैट के मौजूदा असेसी के जीएसटी में पंजीकरण तथा ट्रांजिशनल रूल्स से संबंधित हैं।केंद्रीय उत्पाद एवं सीमा शुल्क बोर्ड ने पंजीकरण और कंपोजीशन लेवी से संबंधित दो नियमों को भी जारी कर दिया है। सभी अधिसूचनाएं 22 जून से प्रभावी होंगी।सालाना 20 लाख रुपये से अधिक का कारोबार करने वाले प्रत्येक व्यापारी या कंपनी को जीएसटी के लिए पंजीकरण कराना होगा।जीएसटी के लिए पंजीकरण होने से कारोबारियों को बिना किसी परेशानी के इनपुट टैक्स क्रेडिट मिल सकेगा। सरकार ने जीएसटी के कॉमन पोर्टल को भी अध

The Australian share market opened in the red, dragged down by the big four banks and the energy sector as oil prices fell to a seven month low. At 10.40am (AEST), the benchmark S & P/ASX200 index was down 6.7 points, or 0.12 per cent, at 5,798.5, while the broader All Ordinaries index was down 5 points, or 0.09 per cent, at 5,830.5. CommSec market analyst Steven Daghlian says today’s softer start was “no huge surprise” with energy stocks down on the back of a 1.1 per cent drop in oil prices in the US overnight. “That is a major drag on all the big names,” Mr Daghlian said. Santos, Woodside Petroleum and Oil Search were among the worst performers, down between 0.69 per cent and 1.48 per cent at 10.40am (AEST). Mr Daghlian said the financial sector was another main player holding back the market following the release of Moody’s credit ratings cut announced after yesterday’s market close. “This is the first opportunity for them to react to that and also the bank levy whi

Indian shares edged higher on Tuesday after a flat opening. The Sensex gained nearly 75 points while Nifty added nearly 20 points to reach 9,636.85. Meanwhile, Asian shares mostly rebounded on Tuesday despite a further slide in U.S. tech shares. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, recouping about half of the previous session's losses as regional tech shares regained their composure. Overnight, tech giants including Apple, Alphabet, Facebook and Microsoft were sold for the second consecutive day on Monday dragging the Nasdaq 0.5 per cent lower.  Buy Rural Electrification Corporation at current market price for a target of Rs. 202 with stop loss at Rs. 188. Buy BEML at current market price for target of Rs. 1,350 and stop loss of Rs. 1,275 Contact us: - +91-9913158794 Or visit:- http://www.profitstreet.in/ Mail us at:-  info@profitstreet.in

Benchmark sensitive index Sensex used to be among the many prime performing indices globally right through could, and this momentum is anticipated to continue within the subsequent two- three years, says a document. The one month return of S&P BSE Sensex stood at three.9 %, while for South Korea's Kospi it stood as excessive as 6.1 percent, for FTSE it was at four.1 p.c and Hong Kong's HangSeng at 4 percent, the analysis note with the aid of ICICI Prudential AMC stated. Returns of the benchmark index are absolute returns calculated between April 30 to could 31, 2017. "From a worldwide context, India stands out for 3 reasons - secure macros, prudent fiscal and monetary policies, and gradual however constant percent of reforms," the document said and added that with the implementation of products and products and services Tax (GST), there is enormous expectation of the tax base rising and a bigger part of the financial system coming under taxation.

Following are the top 5 stocks to watch out for on Friday, 9 June 2017. PNB Housing Finance : The stock on Thursday surged 6% to Rs 1,559 per share, thereby extending its previous day’s 6% surge on the BSE. The Reserve bank of India (RBI) decreased risk weight assigned to residence loans lent on or after June 7. BPCL, HPCL, IOC: Oil firms will begin revising petrol and diesel costs every day all through the u . s . from June sixteen to align the prices with global rates. presently, revision each day is being held in 5 cities of Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh. PSU Banks: Capital necessities of Indian PSU banks are going to be highlighted further as they'll require complying with the Basel-III norms. consistent with Moody's estimates, these lenders could require about Rs 70,000 to Rs ninety five,000 crore over the following two to three years. Coal India: the corporate plans to close 37 underground mines through the end of this f

The rupee depreciated via 6 paise to sixty four.39 towards the united states greenback in early trade on Thursday at the Forex market on elevated demand for the American foreign money from importers and banks. along with, buck's good points against its competitors overseas additionally weakened sentiment locally. however, the next opening within the domestic fairness market capped the losses to some extent. On Wednesday, the rupee had ended 10 paise up at virtually three-week high of 64.33 towards the greenback after the Reserve financial institution diminished its inflation forecast while keeping the policy charges unchanged. meanwhile, the benchmark Sensex rose eighty three.23 points, or 0.26 per cent, to 31,354.fifty one in early change. VISIT - Profit Street

The INDIA VIX is down 1.2% at 10.9. The S&P BSE Sensex is trading at 31292 up 102 factors, whereas NSE Nifty is trading at 9661 up 24 factors. The BSE Healthcare is the highest gaining index in the morning session on Wednesday. it is up through zero.6% at 13895. Cadila Healthcare is contributing majorly to the index beneficial properties and lifting it to greater ranges. Cadila Healthcare is up 9.2% at Rs 535.eighty five per share. different stocks within the index corresponding to Vivimed Labs is up with the aid of 7% at Rs 112.forty per share, Bliss GVS Pharma is up with the aid of 2.eight% at Rs 165.25 per share, Suven life Sciences is up via 2.6% at Rs 189.95 per share, Natco Pharma is up via 2% at Rs 987.90 per share and Glenmark Pharmaceutical is also buying and selling up with the aid of 1.4% at Rs 651 per share. Glaxo, Ajanta Pharma, Lyka Labs and Pfizer are some shares which might be trading in the pink territory from the index. in the meantime, ICICI

Mumbai: Stock markets came off their peak and turned weak early Monday on emergence of profit-booking after recent rally amid mixed Asian cues.The 30-share Sensex, which had gained 135.70 points to close at record high at 31,273.29 on Friday's trade, slipped by 40.64 points, or 0.12 percent, to 31,232.65 with sectoral indices like FMCG, Metal and IT trading in the negative zone, falling by up to 0.27 percent. On similar lines, the NSE Nifty retreated from life-time high as it succumbed to profit-booking to quote 11.75 points lower, or 0.12 percent, at 9,641.75. It had closed at an all-time high of 9,653.50 on Friday.Brokers said that the emergence of profit booking by participants at record levels amid mixed trend at other Asian bourses kept sentiments down. A lacklustre US jobs report and London terrorist attack on Sunday also weighed on the sentiments. Among Sensex-30 constituents, major losers were ITC, Coal India, Lupin, Wipro, HDFC Ltd and HDFC Bank, falling by up to

In the quarter ended March 2017, Adani Power Ltd reported net loss if Rs. 4,960 crore against profit of Rs. 1,012 crore.Shares of Adani Power jumped as much as 2 per cent to hit intraday high of Rs. 27.50 after the company post market hours on Thursday informed stock exchanges that its board of directors will meet on June 6 to discuss slump sale of its Mundra Power Generating Business Undertaking to its subsidiary company. Adani Power in a notification to exchanges said, "the Board of Directors of the Company is scheduled to be held on 6th June, 2017 to consider and evaluate, among others, the Slump Sale of its Mundra Power Generating Business Undertaking to its subsidiary company, namely, Adani Power (Mundra) Limited. " Slump Sale is a transfer of one or more undertakings of an entity for a lump sum consideration, without values being assigned to the individual assets of the entity.  In the quarter ended March 2017, Adani Power Ltd reported net loss if Rs. 4,960 cr

Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 242 The global research firm said that the company’s Q4 beat and new launches will drive growth going forward. It observed that it has a balanced portfolio of rental and development projects with good scale up potentials. The margin too is expanding on the back of cost reductions and sales recovery, but the debt may increase marginally to 1.15 times from 1.11 times in FY17. Key risks to the stock include blocked capital in hotel assets and stretched balance sheet. Brokerage: CLSA | Rating: Buy | Target: Rs 318 The brokerage observed that the company’s results were above estimates on better revenues. It said that the leasing build-out was steady and expects 20 percent lease income growth in FY18. Furthermore, it said that restructuring was nearing completion stage as well. United Spirits Brokerage: Macquarie | Rating: Underperform | Target: Rs 1,600 The brokerage firm observed that March quarter’s gros

The Videocon Industries stock is on a downward slide during the last three days over bad loan worries.State lender Dena Bank recently announced that it had classified Videocon's loan to Rs 520 crore as a non-performing asset. Dena Bank is the first lender to classify Videocon in bad loan category. On December 2015, the firm had a total debt of Rs 47,554 crore.  The firm will announce its earnings for Q4 on May 26, 2017. The stock has lost 42 percent in the last three trading days. It opened at around 100 level on Monday. At 11:21 am today, the stock was trading at a fresh 52-week low of Rs 58.35 level on the BSE. The firm in a statement to BSE said move by Dena Bank "has resulted into some negative publicity of the company and, accordingly, impacted its stock price . We believe that the recent crash on the stock price of the company could be due to the said classification of Videocon's loan as NPA by Dena Bank.  We are not aware of any other information which coul

The INDIA VIX is higher by close to 4.5% at 11.7. BSE Sensex is trading at 30410 down 160 points, while NSE Nifty is trading at 9392 down 45 points.Tata Motors is trading higher by around 1.2% at Rs 455 per share. The stock is trading cautious ahead of its Q4 earnings announcement. The market expects fairly weak earnings as the company is said to be hit by the BS-III vehicle ban. The Nifty Auto index is trading higher by 0.44% at 10384 levels. Maruti still holds the top position in the index trading higher by around 2.2% at Rs 6849 per share. The other auto stocks like Eicher Motors, M&M, Hero MotoCorp and Amara Raja Batteries are also trading in positive zone. There were 191 advances, 1419 declines and 340 unchanged stocks on NSE reflecting strong negative undertone in the market.At 12 PM, the S&P BSE Sensex is trading at 30410 down 160 points, while NSE Nifty is trading at 9392 down 45 points. A total of 14 stocks registered a fresh 52-week high in trade today,

Gold prices edged up on Friday and were on track for their biggest weekly gain since mid-April as the dollar eased amid lingering political turbulence in the United States.In the previous session, the metal snapped a five-day rally and slipped 1.1 percent on profit-taking, its biggest one-day percentage drop since May 3. "The gold rally was overdone and there was a correction on Thursday. But perhaps, it came down a little too much from the highs of yesterday. So people started to pick up again," said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore. "People are still wary of geo-political risks and not selling the safe-haven asset yet."Spot gold was up 0.4 percent at USD 1,250.96 per ounce, as of 0819 GMT. It climbed 1.9 percent for the week and is set for its biggest weekly rise in five.US gold futures slipped 0.1 percent to USD 1,251.10 an ounce. The dollar index, which measures the greenback against a basket of six major

After rising for three days, gold prices softened by Rs 30 on Tuesday to Rs 28,600 per 10 grams at the bullion market here due to fall in demand from local jewellers even as the metal strengthened overseas, helping cap a further decline. New Delhi: After rising for three days, gold prices softened by Rs 30 on Tuesday to Rs 28,600 per 10 grams at the bullion market here due to fall in demand from local jewellers even as the metal strengthened overseas, helping cap a further decline. Silver, however, gained Rs 400 to Rs 38,900 per kg due to increased offtake by industrial units and coin makers.Marketmen said easing demand from local jewellers and retailers at existing levels weighed on gold prices but a firm trend overseas capped the fall.Globally, gold rose 0.32 percent to USD 1,234.30 an ounce. Silver too traded 0.60 percent higher at USD 16.70 an ounce in Singapore. In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 30 each to Rs 28,600 and Rs 28,450

With the markets soaring to record highs yet again on Wednesday, India is now the world’s most expensive market. At a lifetime high of 30,658.77, the benchmark Sensex trades at a price-earnings multiple of nearly 18 times estimated one year forward earnings. India’s market capitalisation hit $2 trillion on Wednesday for the first time ever. The S&P 500, which closed Tuesday’s session at 2,400.67, is a shade less expensive than India, trading at 17.60 times, while the Japanese Nikkei, at 19,814.88, trades at 17.1 times. Both foreign portfolio investors and domestic institutions have been big buyers of Indian equities in 2017; between January and now, FPIs have pumped in close to $6.8 billion into equities while domestic funds have bought stocks worth $1.82 billion. Strategists at Macquarie Research observed, the brokerage’s overweight stance on India was not predicated on expectation of an accelerated pay-off from structural reforms or rapidly rising fixed investment and mor

On May 12, 2017 Merrill Lynch Markets Singapore Pte bought 27,50,000 shares of Indiabulls Ventures at Rs 149.99 on the BSE.On Friday, Indiabulls Ventures ended at Rs 142.35, down Re 1, or 0.70 percent on the BSE. It has touched a 52-week high of Rs 150.50. The company’s trailing 12-month (TTM) EPS was at Rs 1.20 per share. (Mar, 2017). The stock’s price-to-earnings (P/E) ratio was 118.63. The latest book value of the company is Rs 5.65 per share. At current value, the price-to-book value of the company was 25.19. The dividend yield of the company was 2.1 percent. Contact us: - +91-9913158794 Or visit:- http://www.profitstreet.in/ Mail us at:-  info@profitstreet.in

Benchmark indices were off the day’s high points as investors could have looked to book profits after the bumper rally seen on Wednesday.The Sensex was down 48.66 points at 30202.32, while the Nifty was down 21.60 points at 9400.80. The market breadth was in favour of declines as 772 shares advanced against a fall of 1,516 shares, while 125 shares were unchanged. Asian Paints, GAIL and Zee Entertainment lost the most, while Infosys and Hero MotoCorp were the top gainers. Website:- http://www.profitstreet.in/ Whatsup No. +91 9913158794 Email- info@profitstreet.in

3.30 pm: Sensex closed at 30,256.65, surging 323.40 points (1.08%) Nifty50 closed at 9,409.85, 93.00 points higher (1.00%) Major movers today were fertilizer and FMCG stocks on the back of news of a good monsoon. Airtel added 7.96 per cent to the BSE. Hindustan Unilever gained as much as 4.32 per cent. 3.10 pm: Indian benchmark indices held on to their gains throughout the day hit new highs including the Nifty touching the 9,400-mark for the first time. Market rally can be credited to IMD's new monsoon forecast raised prospects of higher agricultural and economic growth, cheering the investors. India is likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased, the chief of the weather office said on Tuesday. Sentiment was also lifter by Asian stocks, which edged higher for a third consecutive day, as investors focused on strong corporate earnings and the dollar gave back some of its recent g

नॉन परफार्मिंग आसेट ( एनपीए ) की समस् ‍ या के बाद भी पिछले कुछ समय से बैंकों के शेयरों में तेजी बनी हुई है। इससे म् ‍ युचुअल फंड की बैंक फोकस स् ‍ कीम् ‍ स का रिटर्न पिछले एक साल में 62 फीसदी से ज् ‍ यादा का हो गया है। जानकारों की राय है सरकार ने एनपीए की समस् ‍ या से निपटने के लिए कड़े फैसले लिए है। इससे बैंकिंग क्षेत्र को फायदा होगा , जिससे बैंकिंग शेयरों में तेजी बनी रह सकती है। ऐसे में अगर कोई बैंकिंग फोकस म् ‍ युचुअल फंड स् ‍ कीम् ‍ स में इनवेस्टिड रहता है , तो उसे आगे अच् ‍ छा रिटर्न मिल सकता है। हालांकि निवेशकों को 62 फीसदी जैसे रिटर्न की आशा नहीं रखनी चाहिए।   बैंकिंग सेक्टर में जारी रहेगा तेजी का दौर शेयरखान में वाइस प्रेसीडेंट मृदुल कुमार वर्मा का मानना है कि एक तो बैंकिंग सेक्टर का एनपीए काबू में आता लग रहा है। इसके अलावा सरकार की सख्ती बैंकों को इस मुद्दे को डील करने के लिए और ताकत देगी। इससे बैंकिंग सेक्टर निवेश के