Oil prices fall for second day after stockpiles rise

US oil prices drawn-out slump into a second day on Wednesday as the dollar promote and industry data showed an escalation in US crude and gasoline nest egg , with swell manufacturing in the country inhibit OPEC endeavor to end a global glut. 

Brent crude was down 40 cents, or 0.6 per cent, at $66.23 a barrel. On Tuesday, the bargain fell 87 cents to close at $66.63 a barrel. 

"There is ongoing pressure, largely coming from a stronger US dollar," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.  Read More

Jhunjhunwala says crazy PE multiples for midcaps not a good sign; indices unlikely to revisit recent highs soon

Big Bull Rakesh Jhunjhunwala on Wednesday said the market is grappling with high valuations and is unlikely to revisit the recent highs soon. 

Investors must not get disheartened by corrections, he said, adding that he sees any sharp BSE -5.00 % fall in the market only on extreme valuations. That said, he warned that PE multiples for midcap stocks are at a crazy valuation, which is "not a good sign". 

The BSE Sensex is off 6.2 per cent from its all-time high of 36,443.98 on January 29. The BSE Midcap index has fallen 9.76 per cent from its recent high of 16,532 on January 9. 

In an exclusive interview with ET Now, the ace investor, who registered one of the largest gains in his portfolio stocks in 2017, said the market needs to consolidate now to set stage for a healthy up move later. The billionaire investors feels that the market may move in a narrow range in the near future  Read More

Market Now: Nifty Private Bank index down; ICICI Bank, YES Bank weigh

  

NEW DELHI: In line with PSU peers, private bank stocks too were declining in morning trade on Wednesday. 

The Nifty Private Bank index was trading 1.18 per cent down at 14,232 around 09:50 am (IST), with shares of ICICI Bank (down 2.25 per cent) and YES Bank (down 1.62 per cent) as the top drags. 

Shares of Federal Bank (down 1.56 per cent), Axis BankBSE -1.16 % (down 1.23 per cent), South Indian BankBSE -0.56 % (down 0.93 per cent), HDFC BankBSE -0.95 % (down 0.92 per cent), Karnataka BankBSE -0.86 % (down 0.60 per cent), IndusInd BankBSE -1.06 % (down 0.55 per cent), IDFC Bank (down 0.48 per cent) and Kotak Mahindra Bank (down 0.24 per cent) were also among the losers around that time. 
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US oil extends gains to hold near 3-week high

US oil worth rose for a fourth hearing on Tuesday to near a three-week immense swing a day prior, backed by signs of booming manufacturing curbs by OPEC and non-OPEC countries and a modest fall in US manufacturing. 

US West Texas transitional crude for April transmission was up 10 cents at $64.01 a barrel by 0020 GMT. The obligation hit $64.24 on Monday, its highest since Feb. 6. 

London Brent crude had still to start trading after determine up 19 cents at $67.50. 

Saudi Arabian oil minister Khalid al-Falih indicated on Saturday that its crude manufacturing would be well below the manufacturing cap as the grouping of the Petroleum Exporting Countries and its allies were pledged to reducing output to bring balance and support to the market. Read More 

Market Now: PSU bank stocks suffer losses; PNB down 7%

Most of the PSU bank stocks were trading in the negative zone in morning trade on Tuesday. 

The Nifty PSU Bank index was trading 1.32 per cent down at 3,126 around 09:50 am (IST) with all components in the red. 

Shares of Punjab National BankBSE -7.15 % (down 6.74 per cent) were the top losers after the bank said that the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore 

Domestic markets opened on a higher note amid positive trading in other Asian markets ahead of the US Fed Chair Jerome Powell's much-anticipated first congressional testimony later in the day. 

However, markets pared some gains on selling in bank and financial stocks. 

Benchmark NSE Nifty50 index was up 16 points at 10,599, while the BSE Sensex was 54 points up at 34,500. 

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Oil steady near 2-week high as Saudi to keep export curbs

Oil expenditure held little changed adjoining two-week highs initial on Monday, financed by judgment from Saudi Arabia that it would sustain to curb smuggle in line with the OPEC-led endeavor to cut global supplies. 

US West Texas transitional crude for April shipment was up 2 cents at $63.57 a drum by 2340 GMT, after soaring 3 per cent last week. 

London Brent crude mitigates 4 cents to $67.27, after expand roughly  4 per cent last week. 

Saudi Arabia aspiration OPEC and its associates will be able to unwind construction curbs next year and spawn a perpetual scheme to sustain oil markets after the current supply wound deal ends this year, its oil minister said on Saturday in New Delhi. 

In January-March, Saudi Arabia's oil construction would be well down the manufacturing cap, with smuggle averaging below 7 million barrels per day (bpd), Saudi Arabian oil minister Khalid al-Falih said.

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Market Now: Private bank stocks up; IndusInd Bank, Axis Bank top gainers

NEW DELHI: Shares of private sector lenders IndusInd BankBSE 2.14 % (up 1.56 per cent), Axis BankBSE 1.08 % (up 1.14 per cent), Kotak Mahindra BankBSE 1.03 % (up 0.99 per cent) and Karnataka BankBSE 0.79 % (up 0.86 per cent) were trading up in morning trade on Monday. 

The Nifty Private Bank index was trading 0.80 per cent up at 14,394 around 09:55 am (IST). 

Shares of HDFC Bank (up 0.81 per cent), ICICI Bank (up 0.68 per cent), Federal Bank (up 0.21 per cent), South Indian BankBSE 0.19 % (up 0.19 per cent), YES BankBSE -0.28 % (up 0.11 per cent) and IDFC Bank (up 0.10 per cent) were also among the gainers. 

Domestic benchmark indices climbed in Monday's trade amid firm cues from global markets. 

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Oil edges up on drop in US inventories, but surge in exports caps gains

Oil prices edged up on Friday, supported by lower US crude inventories, but gains were capped by a surge in US exports that dragged net imports in the world's biggest fuel consumer to a record low. 

US West Texas Intermediate (WTI) crude futures were at $62.89 a barrel at 0206 GMT, up 12 cents, or 0.2 per cent, from their last settlement. 

Brent crude futures were up 5 cents, at $66.44 a barrel. 

US crude oil stockpiles fell by 1.6 million barrels in the week to February 16, to 420.48 million barrels, the Energy 

Information Administration (EIA) said on Thursday. 

"Part of that (inventory fall) is the shape of the oil curve which makes it uneconomic to store product," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. 

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Sensex gains over 100 pts, Nifty50 above 10,400; Federal Bank up 3%, Sun Pharma 2%

NEW DELHI: Benchmark indices opened on a higher note on Friday amid easing fears over interest rate hikes in the US and positive cues from other Asian markets. 

At 9.23 am, the BSE Sensex was trading 121.74 points, or 0.36 per cent, higher at 33,941.24. Nifty50 rose 37.30 points, or 0.36 per cent, to 10,420. 

The rise was seen on Day 1 of the March F&O series. The index had in February witnessed its worst series in last fourteen months. 

“Considering overall derivative activity, we are expecting Nifty to correct towards 10,000 mark in the coming month and thus, any bounce towards 10,700 - 10,750 should be used to exit long positions. Aggressive traders can even initiate fresh shorts around the mentioned zone," said Jay Purohit, Technical & Derivatives Analyst at Centrum Broking. 

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Gold Rate Today: Gold, silver down in morning trade

Gold prices were trading lower in morning trade on Thursday following strengthening US dollar. 

MCX Gold futures were down 0.12 per cent, or Rs 36, at Rs 30,440 at around 10.20 am (IST). 

Minutes from the last US Federal Reserve meeting showed policymakers backed further interest rate hikes which also weighed on the yellow metal. 

According to SMC Investments and Advisors, stronger greenback is likely to keep prices under pressure and US jobless claim data will give further direction to the prices. Read More

Sensex, Nifty trade lower on weak global cues, F&O expiry

NEW DELHI: Benchmark indices opened on a weak note on Thursday, tracking a drop in US stocks in overnight trade. Bond yields climbed in US on Wednesday after the release of minutes of the recent Fed policy meet that hinted at a faster than expected rise in interest rates.

This led the rupee to tumble below the 65-mark for the first time since November 21, which further dented the domestic sentiment. The domestic currency opened 29 paise lower at 65.0 ..

Investors were also cautious ahead of the expiry of February series futures and options contracts later in the day. Read More

No buyers for Indian bonds means more pain for Modi's debt plan

The colossal holders of India’s absolute debt are removal them. 

State banker have been selling 4.7 billion rupees ($73 million) of government bonds on moderate every day this year, hurt by profound portfolio failure, data from the expanse Corp. of India show. Last year, their net daily incrusion totaled 368 million rupees, and in 2016, the run estimate was at 3 billion rupees a day. 

Scion sale in a market where there’s a insufficiance of buyers is subsidize to a savage desecending coiled, where losses keep get worse. It will be ambitious for debt sell-of to sailBSE -1.85 % through without cooperation from the state banks when Prime Minister Narendra Modi’s new financing schedule begins in April, according to Sandeep Bagla, associate director at Trust Capital Services in Mumbai.

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Market Now: Nifty Private Bank index in the red; Federal Bank, ICICI Bank weigh

Market Now: Nifty Private Bank index in the red; Federal Bank, ICICI Bank weigh 

NEW DELHI: The Nifty Private Bank index slipped into the negative zone dragged by Federal BankBSE 0.87 % (up 0.65 per cent) and ICICI BankBSE 0.42 % (up 0.57 per cent) in morning trade in Wednesday. 

The Nifty Private Bank index was trading 0.05 per cent down at 14,003 around 10 am (IST). 

Shares of IDFC Bank (up 0.38 per cent), Kotak Mahindra BankBSE 1.00 % (up 0.25 per cent) and Karnataka Bank (up 0.23 per cent) were also in the red. 

However, shares of Axis BankBSE -0.89 % (down 0.93 per cent), YES Bank (down 0.89 per cent), IndusInd BankBSE -0.72 % (down 0.37 per cent) and HDFC BankBSE -0.29 % (down 0.22 per cent) were holding up around that time. 

Equity benchmarks cooled off due to selling in metal, pharma and auto stocks. 

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Rupee hits two-month low against US dollar, bond yields at two-year high

The Indian rupee on Tuesday punches a 2month depressed against the US dollar as foreign banker’s evaluation to liquidate their situation in regional equity markets.

In the last 8 discussion, foreign institutional investors (FIIs) sold approximately $1.4 billion in equity, while they have bought $1.02 billion so far this year. Since the inception of this year, the rupee has fallen 1%,

Analysts admit that foreign institutional investors (FIIs) are selling for the last few discussions due to an unpleasant budget and the recent $1.8 billion Punjab National Bank fraud that may turn into a contamination.

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Market Live: Sensex rises 150 points, Nifty above 10,400, bank stocks extend losses

Criterion indices BSE Sensex and NSE Nifty traded higher in the morning hours on Tuesday as foreign bankers extend to reimburse their situation. In the last eight Discussions, foreign institutional investors (FIIs) sold nearly $1.4 billion in equity due to a mediocre budget and the recent $1.8 billion Punjab National Bank fraud. The Indian rupee punches a 2month low against the US dollar. Bond turnout hit two-year high on misgiving of shrinking banking system liquidity and higher US yield. Here are the latest updates from the markets: Read More

Should you buy bonds to save capital gains?

In the Union Budget 2018, the finance minister normal to expansion the lock-in period of expenditure in capital gain tax disbursement bonds (under section 54EC of the Income Tax Act, 1961) to 5 years. In the Union Budget 2017, the government had said it would announce more commercial equipment to save tax on capital gains. However, instead of new products, the present lock-in period of 3 years for 54EC bonds has been proposed to increase to 5 years. Given that the lock-in period or regime of an investment plays an important role in conclusive whether it makes sense to invest in or not, let’s look at whether a longer lock-in period could deter investors from investing in these bonds to save taxes. Also, if one does not provide in them, what are the other options for planning your capital gains?

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Market Live: Sensex falls 100 points, Nifty below 10450, PSU bank stocks trade lower

The Criterion indices opened somewhat higher, but soon turned negative on Monday, with BSE Sensex falling more than 100 points and NSE Nifty below 10,450. PSU bank stocks maintained to trade lower in the second week after Punjab National Bank disclosed a Rs11,400 crore fraud corrode nearly Rs9,000 crore in market cap in three sessions. Here are the latest updates from the markets: Read More

PNB फ्रॉड केसः गोकुलनाथ शेट्टी सहित 3 गिरफ्तार, CBI की बड़ी कार्रवाई

नई दिल्ली. केंद्रीय जांच एजेंसी (सीबीआई) को पंजाब नेशनल बैंक में हुए 11,400 करोड़ रुपए के फ्रॉड में बड़ी कामयाबी हाथ लगी है। सीबीआई ने फ्रॉड के मुख्य आरोपी माने जा रहे बैंक के पूर्व डिप्टी मैनेजर गोकुलनाथ शेट्टी को गिरफ्तार कर लिया है। इस केस में यह पहली गिरफ्तारी है।

खबरों के मुताबिक शेट्टी के अलावा दो और लोगों को भी गिरफ्तार किया गया है, जिनमें बैंक का एक सिंगल विंडो ऑपरेटर और नीरज मोदी के ऑथराइज सिग्नेचरी शामिल हैं।

बैंकिंग इतिहास में इस सबसे बड़े घोटाले में नीरव मोदी के बाद सबसे ज्यादा सुर्खियों में गोकुलनाथ शेट्टी का ही नाम है। शेट्टी पिछले साल मई में ही पंजाब नेशनल बैंक से डिप्टी मैनेजर के पद से रिटायर हुए थे।

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First signs of recovery in December quarter corporate earnings

Corporate earnings showed the first signs of recovery in the December quarter as the negative effects of demonetization and the consecutive goods and services tax (GST) implementation started to reverse, but analysts stopped short of calling it a full-blown turnaround.

A Mint analysis of 2,040 listed companies showed that aggregate net profit, after adjusting for one-time gains and losses, rose 11.1% in the three months ended December, the highest in the past four quarters. This sample excludes banks, financial services firms and oil & gas companies.

The earnings were a mixed bag with early signs of economic recovery, said Nischal Maheshwari, head, institutional equities, Edelweiss Securities Ltd.

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Market Live: Sensex rises 200 points, Nifty near 10600, bank, IT stocks gain

Criterion indices gained for the second session on Friday, with BSE Sensex rising over 200 points and NSE Nifty above 10,600. The rupee establish for the fourth session to hit a two-week high against the US dollar on Friday, tracking gains in its Asian peers. Sentiment also boosted after the Reserve Bank of India said it will be ready to inject adequate amount of extra cash into banks if needed ahead of March-end. Here are the latest updates from the markets: Read More

RBI’s tough love sinks bank stocks on Valentine’s Day

The essential of the latest change in NPA (non-performing asset) realization and settlement is the Insolvency and Bankruptcy Code (IBC). Every stressed loan where banks either fail to appliance a resolution plan, or fail to stick to the period of achieve one, will find its way into the courts.

Which arethese loans?

Indian banks are sitting on a reconstruct loan pile of close to Rs1.6 trillion even after the steady slippage of these accounts into the NPA category over the last several quarters.

The bulk of these are feared to be on their way to the bankruptcy courts, according to analysts. Read More

Market Live: Sensex rises over 100 points, Nifty above 10500, PNB shares down 7%

BSE Sensex trades higher in opening trade on Thursday against the previous session are closing. The broader Nifty also rose in the morning hours. The Indian rupee strengthened against the US dollar, tracking gains in the Asian currencies market. Traders will watch for the Wholesale Price Inflation data due after 12pm. According to Bloomberg estimates, WPI will be at 3.2% for January from 3.58% a month ago. Here are the latest updates from the markets. Read More

Surge in global oil supply may overtake demand in 2018, energy agency says

The rise in international oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency (IEA) said on Tuesday.

The Paris-based IEA constructed its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a preceding projection of 1.3 million bpd, after the International Monetary Fund (IMF) upped its conclusion of global economic growth for this year and next.

Oil demand grew at a rate of 1.6 million bpd in 2017, the IEA said in its monthly market report.

However, the rapid rise in output, particularly in the United States, could well outweigh any pick-up in demand and begin to push up global oil inventories, which are now within sight of their five-year average. Read More

Market Live: Sensex rises over 100 points, Nifty above 10,550, PSU bank, pharma stocks fall

BSE Sensex red over 100 points on Wednesday against the preceding session’s closing. The broader Nifty also benefit in the morning hours. Indian government bond prices and rupee gained on the back of superior-than-normal key macro-economic data. India’s factory output grew at a robust 7.1% in December, while retail inflation slowed to 5.07% in January as food expansion softened, according to government data released on Monday. Moreover, traders will keep an eye on Wholesale price expansion data due after 12pm. Here are the latest updates from the markets. Read More

RBI withdraws SDR, S4A, sets banks 180-day timeline for bad loan resolution

The Reserve Bank of India (RBI) on Monday tightened norms for bad loan resolution by setting timelines for resolving large NPAs, failing which banks will have to mandatory refer them for insolvency proceedings. It also withdrew existing debt restructuring schemes such as SDR and S4A.

RBI has issued definitions of different resolution plans and an indicative list of financial difficultly, and directed lenders to share data on certain defaulted borrowers with the central bank’s database on large exposures on every Friday.

The large accounts are mainly those where banks have initiated resolution and are classified as restructured standard assets. Indian banks are sitting on a stressed assets pool of over Rs10 trillion. Read More

Rupee opens higher against US dollar ahead of CPI data

The Indian rupee strengthened against the US dollar on Monday, tracking gains in Asian currencies.

At 9.09am, the home currency was trading at 64.26 a dollar, up 0.21% from its Friday’s close of 64.40. The rupee opened at 64.26 a dollar and touched a high and a low of 64.24 and 64.29, respectively.

So far this year, the rupee has lost 0.62%, while foreign institutional investors have bought $1.48 billion and $ 2.06 billion in equity and debt, respectively.

Consumer Price Index (CPI) and Index of Industrial Production (IIP) data are due to be released on Monday. A Bloomberg poll of 31 analysts on CPI shows a median estimate of 5.1% in year-on-year in January from 5.21% in December, and 28 analysts polled by Bloomberg have median estimates of 6.1% year-on-year in December for IIP, from 8.4% gain in November. 

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Managing the LTCG tax for your mutual funds

Equity markets have been in a tizzy ever since Union Budget 2018 imposed the 10.4% tax (including the cess and indexation) on long-term capital gain (LTCG) on equity mutual fund schemes and direct equities. While debt funds have been imposing a 20.6% LTCG tax (with indexation) after 3 years, equity funds were exempted, so far, from LTCG tax—if you had held your mutual fund units for at least 1 year. This exemption has been around since 2004. But LTCG tax is back for equity funds, though the holding period of 1 year—to distinguish long-term and short-term gains—remains the same, going forward. If you have been planning for your financial goals using mutual funds, it’s important to understand how LTCG will impact your portfolio Read More

Opening bell: Asian markets open mixed; Bank of India, Britannia, GAIL in focus

US stocks rebound; Asian markets open mixed

The Dow Jones industrial average rebounded more than 300 points Friday, paring deep losses for investors in what still amounted to the worst week in two years.

Asian markets were mixed early on Monday, while oil prices edged up after recording six straight days of declines.

SGX looks to bypass curbs placed by Indian bourses

The Singapore Stock Exchange (SGX) said it will develop new products to provide investors with access to Indian securities after exchanges in the country abruptly decided to end licensing their products and data to overseas bourses.

ONGC Videsh-led consortium picks up 10% stake in UAE’s Zakum oilfield

A consortium of Indian companies led by state-owned Oil and Natural Gas Corp. Ltd (ONGC)’s overseas arm, ONGC Videsh Ltd, has bought a 10% stake in the UAE’s offshore oil and gas field Zakum, as India pursues overseas hydrocarbon assets, while oil-rich nations resort to ways of reducing risk and balancing their budget deficits.

Wipro Consumer Care set to cross $1 billion in revenue by next month

Wipro Consumer Care and Lighting will reach the $1 billion revenue mark by March 2018, as the company’s China bets in particular continueto pay off and key brands in India perform well.

Aditya Birla Capital to launch ARC business this quarter

Aditya Birla Capital Ltd (ABCL), the financial services business of the $50 billion Aditya Birla Group, will begin investing in its asset reconstruction company (ARC) and start business this quarter, reports Mint.

Tata Motors to leverage group strength on future of mobility: MD Guenter Butschek

As the auto industry goes through disruptions brought by new technologies, Tata Motors is banking on group strength, particularly on software major TCS, in its bid to position itself as a mobility solutionsprovider, according to its MD and CEO Guenter Butschek.

Atria Convergence hires investment banks for IPO

Atria Convergence Technologies Pvt. Ltd (ACT), a broadband services provider controlled by private equity firms TA Associates and True North, has hired investment banks to help it raise Rs1,500-2,000 crore through an initial public offering (IPO). 

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Rupee falls to fresh two-month low against US dollar amid global sell-off

The Indian rupee on Friday weakened to a fresh two-month low against US dollar after fears of higher interest rates by the Federal Reserve led to a fresh plunge in global markets.

The rupee opened at 64.42 a dollar and touched a low of 64.43, a level last seen on 18 December. At 9.15am, the rupee was trading at 64.38, down 0.21% from its Thursday’s close of 64.26.

Traders were cautious after 10-year US bond yield climbed to almost 2.9%, a key indicator of inflationary pressure and the likelihood of higher interest rates. Analysts expect that it could hit 3% in the coming days.

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No LTCG tax if you sell shares or mutual fund units before 31 March 2018

The expected long-term capital gains (LTCG) tax on equity (including shares and equity mutual funds) in the Union Budget 2018 came as a blow for bankers. The Budget says that after 1 April 2018, the LTCG earned from investments in equity will be taxed at 10%. However, any LTCG earned till 31 January 2018 will be grandfathered, which would mean that LTCG earned before 31 January will not be taxed.

This move may prompt some investors to rejig their portfolios. There is some good news for them. On 4 February 2018, the Central Board of Direct Taxes (CBDT) released a list of frequently asked questions (FAQs) about the proposed tax on LTCG (read here: incometaxindia.gov.in/News/FAQ-on-LTCG.pdf). It says that the tax on LTCG would not be applicable on transfers (of equity investments) that are made between 1 February 2018 and 31 March 2018. Read more about the proposed rule and its tax implications.

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Market Live: Sensex falls 550 points, Nifty near 10,400 as global markets plunge

Indian benchmark indices fell over 1.50% in opening trade on Friday after US stocks plunged around 4% on Thursday in another dramatic session. The S&P 500 slumped 3.8% on Thursday, while the Dow dropped 4.2% as losses accelerated late in the trading day. The rupee weakened to a fresh two-month low against US dollar after fears of higher interest rates by the US Federal Reserve led to a fresh plunge in global markets. Here are the latest updates from the markets 

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Demand for gold, realty still subdued despite meltdown in equities market

Despite the meltdown in equities, other competing asset classes like gold, real estate and fixed income may not have become attractive options for investors yet. Indian markets, which gained around 27% in 2017, have slumped nearly 7% in the last six trading sessions. Stocks in the US, Asia and other global markets too have seen a sharp sell-off this week.

Gold, considered a safe asset to hold in volatile times, rose around 13% last year, followed by another 3% this year. However, analysts said it is too early to seek safe haven assets. According to Deepak Jasani, head (retail research) at HDFC Securities Ltd, fresh surplus of funds may shift to fixed income Read More

Investors see IT, consumer goods stocks delivering in the short-term

Cyclical stocks which ride an economic revival may still be the best bet for long-term investors, but the recent market crash has made some market experts look at defensive stocks, especially technology stocks, in the short term.

The BSE IT index is the only sectoral index to gain this year, with a 7.57% rise. In contrast, the BSE FMCG index and the BSE Healthcare index are down 1.71% and 7%, respectively. Meanwhile, the benchmark Sensex is up 0.65% for the year.

In 2017, the IT and healthcare indices rose 10.83% and 0.5%, respectively, underperforming the benchmark Sensex, which gained 28%, its best yearly performance since 2014. The BSE FMCG index, meanwhile, gained 31.54%, beating the Sensex. Read More 

Market Live: Sensex rises 250 points, Nifty trades above 10,500, telecom, metal stocks up

BSE Sensex opened higher on Wednesday against the previous session’s closing. The broader Nifty 50 also rose in the morning hours. The Indian rupee strengthened against the US dollar on Wednesday ahead of the Reserve Bank of India’s (RBI) interest rate decision due after 2.30pm. Instigator forecast the RBI to keep interest rates on dominance on forecast that expansion may accelerate further due to higher crude oil prices and a prospective hike in minimum support prices (MSPs) for farmers in the budget. Here are the latest updates from the market Read More

Budget 2018: Populism with an eye on a new India

The Budget 2018 conferred by the Finance Minister (FM) in the Parliament on 1 February 2018 focal point brodly on preposition for huge allotment towards expenditure for much that ails many key divison of our country—poor, farmers, women, senior citizens—the theme being their ‘ease of living’. Budget 2018 also dramitcally plans to equip for ‘India of the future’ with focus on Digital India, STEM (science, technology, engineering and maths) and other relevant skills.

Without doubt, the promise of Universal Healthcare (being called Modicare) for almost half the country (intended coverage 100 million families), is what stands out. Naysayers may call it an empty promise, yet this populist measure carries with it a unique stamp of the present government, of prioritizing ‘social security for all’ and sensitivity to social issues. What is reassuring to note is that the pressure to be populist has not led the government to lose its commitment to fiscal prudence. Thematically, the budget story continues to hold on to its agenda of fundamental socioeconomic reforms in the country. For the individual taxpayers, there are a few proposals that should bring cheer.
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With a financial plan, we feel secure; we know money will be there if we need it

There are abundant reports out there display the higher rebound that equity gives in the long run. Dr Collin Roy and his wife Rituparna Roy have gained from this. Their path to searching better financial merchandise started as it does for many people—wanting to shorten the tax outgo. More than about 10 years ago, to save taxes, most of their investments were in life insurance policies and term deposits. But they wanted better, and they started investing in mutual funds through systematic investment plans (SIPs).
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Opening bell: Global equities extend losses; Lupin, Hero MotoCorp earnings today

Sell-off deepens losses in global equities

Overnight, the US markets closed sharply lower. S&P 500 lost 4% to 2,648 points on rising bond yields and inflation fears. Tracking the cues, Asian stocks opened lower too. Read more

Tata Motors Q3 profit rises but misses estimates

Tata Motors Ltd reported a near 11-fold rise in fiscal third-quarter profit as a surprise turnaround in its India business helped offset a slowdown in its Jaguar Land Rover (JLR) unit. Earnings still missed analysts’ estimates. Read more

Singtel to invest Rs2,649 crore in Bharti Telecom

Singapore Telecommunications Ltd (Singtel) will indirectly raise its stake in Bharti Airtel Ltd by investing Rs2,649 crore in Bharti Telecom Ltd, the promoter company of Airtel, through a preferential allotment of shares. Read more
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Emami to buy 26% stake in Brillare

Emami Ltd said it had concluded a deal to acquire a substantial minority stake in Brillare Science Pvt. Ltd, valuing the company at Rs75-100 crore, reports Mint. Brillare produces hair and skin care products, and sells them to professional salons. Read more

ArcelorMittal to sell entire stake in Uttam Galva

ArcelorMittal is set to sell its entire 29% stake in Uttam Galva Steels to its co-promoter for Re1 a share, reports Business Standard. With this, ArcelorMittal will cease to be a promoter of Uttam Galva, which is undergoing insolvency proceedings, the report adds. Read more

Hero MotoCorp, Lupin earnings today

It will be a results heavy day. Castrol India Ltd, Berger Paints Ltd, Blue Star Ltd, Dish TV India Ltd, Apollo Tyres Ltd, Hero MotoCorp Ltd, JSW Energy Ltd, Lupin Ltd, Natco Pharma Ltd, Siemens Ltd and Thermax Ltd are some of the companies that will release their earnings for the December quarter on Tuesday. Read more

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