Economic Survey Highlights:

 The Indian Economy has sustained a macro-economic environment of relatively lower inflation, fiscal discipline and moderate current account deficit coupled with broadly stable rupee-dollar exchange rate.  The Economic Survey 2016-17 presented in the Parliament today by the Union Finance Minister Shri Arun Jaitley states that such a sustenance is despite continuing global sluggishness. 

As per the advance estimates released by the Central Statistics Office, the growth rate of GDP at constant market prices for the year 2016-17 is placed at 7.1 per cent, as against 7.6 per cent in 2015-16.This estimate is based mainly on information for the first seven to eight months of the financial year. Government final consumption expenditure is the major driver of GDP growth in the current year.

• Fixed investment (gross fixed capital formation) to GDP ratio (at current prices) is estimated to be 26.6 per cent in 2016-17, vis-à-vis 29.3 per cent in 2015-16.

• For 2017-18, it is expected that the growth would return to normal as the new currency notes in required quantities come back into circulation and as follow-up actions to demonetisation are taken. On balance, there is a likelihood that Indian economy may recover back to 6 ¾ per cent to 7 ½ per cent in 2017-18.

Fiscal

•  Indirect taxes grew by 26.9 per cent during April-November 2016.

• The strong growth in revenue expenditure during April-November 2016 was boosted mainly by a 23.2 per cent increase in salaries due to the implementation of the Seventh Pay Commission and a 39.5 per cent increase in the grants for creation of capital assets.

Prices

• The headline inflation as measured by Consumer Price Index (CPI) remained under control for the third successive financial year. The average CPI inflation declined to 4.9 per cent in 2015-16 from 5.9 per cent in 2014-15 and stood at 4.8 per cent during April-December 2015.

• Inflation based on Wholesale Price Index (WPI) declined to (-) 2.5 per cent in 2015-16 from 2.0 per cent in 2014-15 and averaged 2.9 per cent during April-December 2016.

•  Inflation is repeatedly being driven by narrow group of food items, of these pulses continued to be the major contributor of food inflation.

•  The CPI based core inflation has remained sticky in the current fiscal year averaging around 5 per cent.

Trade

• The trend of negative export growth was reversed somewhat during 2016-17 (April-December), with exports growing at 0.7 per cent to US$ 198.8 billion. During 2016-17 (April-December) imports declined by 7.4 per cent to US$ 275.4 billion.

•  Trade deficit declined to US$ 76.5 billion in 2016-17 (April-December) as compared to US$ 100.1 billion in the corresponding period of the previous year.

• The current account deficit (CAD) narrowed in the first half (H1) of 2016-17 to 0.3 per cent of GDP from 1.5 per cent in H1 of 2015-16 and 1.1 per cent in 2015-16 full year. 

•  Robust inflows of foreign direct investment and net positive inflow of foreign portfolio investment were sufficient to finance CAD leading to an accretion in foreign exchange reserves in H1 of 2016-17.

•  In H1 of 2016-17, India’s foreign exchange reserves increased by US$ 15.5 billion on BoP basis.

• During 2016-17 so far, the rupee has performed better than most of the other emerging market economies.

External Debt

• At end-September 2016, India’s external debt stock stood at US$ 484.3 billion, recording a decline of US$ 0.8 billion over the level at end-March 2016.

• Most of the key external debt indicators showed an improvement in September 2016 vis-à-vis March 2016. The share of short-term debt in total external debt declined to 16.8 per cent at end-September 2016 and foreign exchange reserves provided a cover of 76.8 per cent to the total external debt stock. 

• India’s key debt indicators compare well with other indebted developing countries and India continues to be among the less vulnerable countries.

Agriculture

• Agriculture sector is estimated to grow at 4.1 per cent in 2016-17 as opposed to 1.2 per cent in 2015-16; the higher growth in agriculture sector is not surprising as the monsoon rains were much better in the current year than the previous two years.

• The total area coverage under Rabi crops as on 13.01.2017 for 2016-17 is 616.2 lakh hectares which is 5.9 per cent higher than that in the corresponding week of last year.

• The area coverage under wheat as on 13.01.2017 for 2016-17 is 7.1 percent higher than that in the corresponding week of last year. The area coverage under gram as on 13.01.2017 for 2016-17 is 10.6 percent higher than that in the corresponding week of last year.

Industry

•  The growth rate of the industrial sector is estimated to moderate to 5.2 per cent in 2016-17 from 7.4 per cent in 2015-16.During April-November 2016-17, a modest growth of 0.4 per cent has been observed in the Index of Industrial Production (IIP).

• The eight core infrastructure supportive industries, viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity registered a cumulative growth of 4.9 per cent during April-November 2016-17 as compared to 2.5 per cent during April-November 2015-16. The production of refinery products, fertilizers, steel, electricity and cement increased substantially, while the production of crude oil, natural gas fell during April-November 2016-17. Coal production attained lower growth during the same period.

• The performance of corporate sector (Reserve Bank of India, January 2017) highlighted that the growth of sales grew by 1.9 per cent in Q2 of 2016-17 as compared to near stagnant growth of 0.1 per cent in Q1 of 2016-17. Growth in net profit registered a remarkable growth of 16.0 per cent in Q2 of 2016-17 as compared to 11.2 per cent in Q1 of 2016-17.

Services

• The service sector is estimated to grow at 8.9 percent in 2016-17, almost the same as in 2015-16. It is the significant pick-up in public administration, defense and other services, boosted by the payouts of the Seventh Pay Commission that is estimated to push up the growth in services.

Social Infrastructure, Employment and Human Development

The Parliament has passed the “Rights of Persons with Disabilities Act, 2016”. The Act aims at securing and enhancing the rights and entitlements of Persons with Disabilities. The Act has proposed to increase the reservation in vacancies in government establishments from 3 per cent to 4 per cent for those persons with benchmark disability and high support needs.

More will update soon!!

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Updates on Bullion, Base Metals and Energy Levels 31st Jan 2017

Gold futures ended higher on Monday as signs of growing inflation and a steep decline in US equities helped to raise investment demand in the precious metal. Yellow metal prices further improved as political uncertainty created by US President Donald Trump's move to ban people from seven Muslim-majority countries, and by elections in Europe.  As well as the Fed due on Wednesday, global financial markets will be busy with central bank meetings in the week ahead, with policy decisions due in the UK and Japan. Investors will also keep an eye out on key economic data, with the monthly US employment report in the spotlight.

Crude oil futures extended their fall on Monday after trading in a narrow range through the day. Traders weighed the supply response of U.S. shale drillers to prices above $50 a barrel, despite a report by Petro-Logistics SA showing that global oil supplies are falling. Traders were a bit concerned by Commerce Department report showing that personal income increased by slightly less than expected in the month of December. Investors were also keeping an eye on central bank policy reviews in Japan due Tuesday in Asia, as well as the US and UK slated later this week.

Copper futures ended lower on Monday as optimism over US President Donald Trump's capacity to drive economic growth fades. The new US immigration curbs put the spotlight back on the risks of Trump's protectionist bent, spooking investors. Further, base metals were muted in Asian trade as China's week-long Lunar New Year holiday drained the markets of liquidity and direction.

Technical Level

Gold

Support at 28550 and resistance at 28730

Looks positive and could touch its resistance level of 28730. Close above 28730 will take to 28900---29080 mark else could touch its support level of 28550 again.

Fresh selling can be initiated below 28550 mark

Trade with levels only

Silver

Silver has support at 41300 and resistance at 42000.

Break and sustain below 41300 will take to 40800---40500 and then to 39700 mark else it could test its resistance level of 42000 again.

Further upside rally will see only close above 42000 mark

Trade with levels only.

Crude oil

Support at 3540 and resistance at 3600--3630

If it unable to breach its support level of 3540 then will expect Crude oil to touch the resistance level of 3600—3630 again

Fresh selling can initiate only  close below 3540 mark.

Trade with levels only

Copper

'

Support at 398 and resistance at 410

Either side break or close with volume will decide further. Till then trade in a range with levels only. 

More will update soon...

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आइडिया सेलुलर ने डिजिटल सेवाओं के क्षेत्र में रखा कदम

मुंबई। आइडिया सेलुलर ने सोमवार को 'डिजिटल आइडिया' के साथ डिजिटल सेवाओं के क्षेत्र में कदम रखा और तीन नए मोबाइल एप की शुरुआत की जिनके नाम आइडिया म्यूजिक लांच, आइडिया मूवी क्लब और आइडिया गेम स्पार्क हैं। आइडिया सेलुलर के प्रबंध निदेशक हिमांशु कापानिया ने यहां बताया, 'आइडिया ग्राहकों के लिए डिजिटल सामग्री एप्लिकेशन के माध्यम से एक जगह सभी तरह के मनोरंजन मुहैया कराएगी। इसमें उन्हें प्रसिद्ध और प्रीमियम डिजिटल सामग्री मिलेगी, जिनमें हिंदी, देशी भाषाएं और अंतर्राष्ट्रीय भाषाओं की सामग्रियां शामिल हैं।'

आदित्य बिरला समूह की इस कंपनी के लगभग 20 करोड़ ग्राहक हैं। स्टैंडर्ड आइडिया म्यूजिक लाउंज सदस्यता के तहत हर महीने केवल 49 रुपये में असीमित संगीत डाउनलोड करने की सुविधा मिलेगी, जबकि असीमित संगीत की स्ट्रीमिंग मुफ्त होगी।

हालांकि एक्सक्लूसिव सदस्यता ऑफर के तहत 31 मार्च तक यह एप डाउनलोड करने पर 90 दिनों की सदस्यता मुफ्त मिलेगी। 

एक्सक्लूसिव सदस्यता ऑफर के तहत 31 मार्च तक आइडिया मूवी क्लब एप डाउनलोड करने पर अगले 90 दिनों के लिए यह सेवा मुफ्त मिलेगी। कंपनी ने बताया, 'एक्सक्लूसिव सदस्यता ऑफर के तहत आइडिया गेम स्पार्क एप में 31 मार्च तक साइन इन के बाद इसकी 90 दिनों तक मुफ्त सदस्यता मिलेगी।'

(आईएएनएस)

इंडियन मार्किट व्यू

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आयकर विभाग ने 18 लाख लोगों को भेजा नोटिस, कमाई और बैंक डिपॉजिट में नहीं है मेल

नोटबंदी के बाद जिन लोगों के खातों में भारी मात्रा में पैसा जमा हुआ है और जमा पैसा उनकी घोषित कमाई से मेल नहीं खाता है उन सभी लोगों को आयकर विभाग ने नोटस भेजा है। मंगलवार को राजस्व सचिव हंसमुख आढिया ने यह जानकारी दी है। राजस्व सचिव के मुताबिक देशभर में करीब 18 लाख लोगों को ई-मेल या मोबाइल SMS के जरिए नोटिस भेजा गया है।

आयकर विभाग के मुताबिक जिन 18 लाख लोगों के नोटिस भेजा गया है उनके खातों में नोटबंदी के दौरान भारी मात्रा में कैश जमा हुआ है और जमा कैश उनकी घोषित कमाई से मेल नहीं खा रहा है। ऐसे सभी लोगों को 10 दिन के अंदर संबधित कमाई की पूरी जानकारी देने के लिए कहा गया है। जानकारी देने के लिए सरकार ने एक सॉफ्टवेयर तैयार किया है और सॉफ्टवेयर को स्वच्छ धन अभियान नाम दिया गया है। 

Source: MarketTimesTv

इंडियन मार्किट व्यू

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Indian Oil Corporation Q3 Result Update

Indian Oil Corporation reports 29% rise in Q3 net profit

Indian Oil Corporation has reported results for third quarter ended December 31, 2016. 

The company has reported 29.04% rise in its net profit at Rs 3994.91 crore for the quarter under review as compared to Rs 3095.75 crore for the same quarter in the previous year. Total income of the company increased by 19.16% at Rs 116437.83 crore for the quarter under review as compared Rs 97717.44 crore for the corresponding quarter previous year. 

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Technical Levels for IOC

Support at 340 and Resistance at 370--380

Break and sustain above 380 will see sharp upside rally in it else could touch its support level of 340

Looks weak on close below 340.

More will update soon!!

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Slower demand for housing loans not purely due to note ban:HDFC

Demonetisation is not purely the reason for the slightly slower demand for housing loans, says Keki Mistry MD & CEO of HDFC    in an interview to CNBC-TV18. The housing finance company Monday reported nearly 12 percent year-on-year increase in third quarter net profit to Rs 1,701 crore. It was impacted by higher provisions and tax cost but supported by net interest income growth. Mistry said people have been holding back purchases assuming prices will drop and that is why the sales for builders has been lower. 

However, based on his experience, and five similar industry cycles he has witnessed, he says it is advisable to invest whenever a property looks suitable rather than wait for price corrections. Below is the verbatim transcript of Keki Mistry’s interview to Ritu Singh on CNBC-TV18. Q: What was the impact on smaller loans and the kind of recovery the company has seen two months after demonetisation? A: I would say that the impact is not only because of demonetisation. The impact on the slightly slower demand for individual housing loans has been more because people start thinking that property prices will come down and therefore people tend to hold back on their purchase. 

Let us talk about the individual separately and the non-individual separately. That would probably explain why sales for builders has been lower in the last couple of months compared to where it used to be. My personal view in this regard is that whenever you think the family likes the house, the house is affordable, the income of the individual is stable he has the ability to buy the house he should not buy the house or he should not hold back on their purchase thinking that prices will come down. If I go to my 35 years with HDFC we have seen at least five cycles like this.

 The last cycle having been in 2008-2009. 2008 Lehman Brothers happened and after Lehman prices came down a little bit, more than prices coming down there was people held back on their purchases for houses and then all the countries in the world started ejecting liquidity. Because of their excess liquidity interest rates came down, sentiments were better, stock markets improved and from July 2009 to March 2010 in that period of nine months we saw the fastest increase ever in property prices, unprecedented price in property prices.

More will update soon!!

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Kansai Nerolac Q3 Result Update

Kansai Nerolac Paints reports 44% growth in Q3FY17 net profit

Kansai Nerolac Paints (KNPL) has reported results for third quarter ended December 31, 2016. 

The company has reported 44.01% rise in its net profit at Rs 123.96 crore for the quarter under review as compared to Rs 86.08 crore for the same quarter in the previous year. Total income of the company increased by 8.60% at Rs 1168.44 crore for the quarter under review as compared to Rs 1075.94 crore for the corresponding quarter previous year.

Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, Automotive Coatings and Performance coatings.

Kansai Nerolac to set-up paint manufacturing unit at Visakhapatnam

Kansai Nerolac Paints has received an approval for setting up a paint manufacturing unit at Achutapuram, 

Visakhapatnam District in Andhra Pradesh having capacity of 60,000 KL per year, which is expandable in phases, at an estimated cost of Rs 304 crore. The board of directors at its meeting held on January 31, 2017, has approved for the same.

Technical Levels of Kansai Nerolac

Support at 345--340 and Resistance at 360

Break and sustain above 360 will take it to 365--380 and then to 390+ mark in days to come else could touch its support level of 345--340.

Looks weak on close below 340.00

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Kaveri seeds Q3 result update

Kaveri Seed Company reports 70% drop in Q3FY17 net profit

Kaveri Seed Company has reported results for third quarter ended December 31, 2016.  

The company has reported 69.76% fall in its net profit at Rs 3.55 crore for the quarter under review as compared to Rs 11.74 crore for the same quarter in the previous year. However, total income of the company increased by 7.99% at Rs 77.95 crore for the quarter under review as compared to Rs 72.18 crore for the corresponding quarter previous year.

Kaveri Seed Company, one of the leading seed companies of the country, is engaged in production, processing and marketing of seeds to farmers. It provides seeds for different crops like corn, sunflower, cotton, paddy, and grain sorghum.

Technical Levels For KSCL

Support at 450 and Resistance at 480

Break and sustain below 450 will see downside panic till 438---415 else could touch its resistance level of 480

Fresh buying can be initiated above 480.00

More will update soon!!

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Century Textiles Q3 result update

Century Textiles & Industries turns black in Q3

                        

Century Textiles & Industries has reported results for third quarter ended December 31, 2016.

The company has reported a net profit of Rs 13.89 crore for the quarter as compared to net loss of Rs 8.5 crore for the same quarter in the previous year. However, total income of the company decreased by 8.36% at Rs 1978.00 crore for quarter under review as compared to Rs 2158.37 crore for the quarter ended December 31, 2015.

Technical Levels for Centurytex

Support 840 and Resistance at 870--875

Break and sustain above 875 will take it to 885--900 and then to 935+ mark in days to come else could touch its support level of 840

Looks weak below if close below 840.00

More will update soon!!

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US under Trump series: Trump triggered administration wars

All other executive orders signed by President Donald Trump got eclipsed by the once he signed last weekend, to ban immigration from seven countries in the war-torn region namely Syria, Sudan, Libya, Iran, Iraq, Yemen, and Somalia, temporarily for 90 days. The order has triggered protests all across the globe and earned Trump the ire of global leaders. The move has also triggered an administrative war within the Federal government.

In the Senate and in the House, democrats are furious over Trump’s executive orders and the acting Attorney General Sally Yates ordered the justice department lawyers to not to defend Trump’s executive orders in court. She got fired by the President, within the next few hours. The next attorney general Jeff Sessions is yet to be confirmed by the Senate democrats, so the President appointed Dana J. Boente for the time being. This could mark the beginning of a deep cleansing through the federal government and its agencies under the new administration by showing the door to those who fail to abide by both the vision of the new government and the law.      

While the attorney general may not have liked the order, she was legally bound to abide by it. The Federal immigration law under Section 1182(f) gives the President Trump the power to ban or suspend the entry of all aliens or any class of aliens as immigrants or non-immigrants.

More will update soon!!

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Currency Report 31 - January 2017

Rupee appreciates for fourth consecutive session

Appreciating for fourth consecutive session, Indian rupee ended stronger against dollar on Monday on increased selling of US currency by banks and exporters. Local currency got some support with Union Finance Minister Arun Jaitley’s statement that the implementation of the Goods and Services Tax (GST), along with demonetisation will bring more revenues as far as states and the central government are concerned and enlarge the size as far as the formal economy is concerned. Besides, dollar weakness against other currencies overseas, barring yen, too gave the rupee more muscle. 

However, there was some cautiousness too with CRISIL in its latest report stated that the fiscal deficit target of 3 percent for 2017-18 will be hard to hold as the debt dynamics of the country show stickiness. On the global front, dollar slipped against a basket of some currencies overseas after Treasury yields declined on data showing the US economy growing more slowly than expected.

Finally, the rupee ended at 67.95, 8 paise stronger from its previous close of 68.03 on Friday. The currency touched a high and low of 68.08 and 67.85 respectively. 

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.04 and for Euro stood at 72.96 on January 30, 2017. While the RBI’s reference rate for the Yen stood at 59.38, the reference rate for the Great Britain Pound (GBP) stood at 85.51.The reference rates are based on 12 noon rates of a few select banks in Mumbai.

USDINR

We clearly indicated USDINR looks weak below 68.20 …it crashed and exactly low of 68.02

Now what to expect??

Below 68.00 panic likely to remain continue till support level of 67.90 

Break and close below 67.90 will see more downside panic in it else it could test its resistance level of 68.20 again.

Fresh buying can be initiated above 68.20

GBPINR

We recommended GBPINR looks weak below 85.50…it made low of 85.16

Now what to expect??

Support at 85.00 and Resistance at 85.35

Break and sustain below 85.00 will take it to 84.70---84.40 else could touch its resistance level of 85.35 again.

Fresh buying above 85.35 only. 

EURINR

Too recommended EURINR looks weak below 73.10 it made low of 72.84.

Now what to expect??

Support at 72.75 and Resistance at 73.00

Break and sustain below 72.75 will take it to 72.50---72.20 else could touch its resistance level of 73.00

Fresh buying can be initiated above 73.00

Trade with levels only

JPYINR

Support at 59.90 and resistance 60.10

Break and sustain below 59.90 will take it to 59.70—59.60 and then to 59.45 else could touch its resistance level of 60.10

Fresh buying can be initiated above 60.10

Trade with levels only

More will update soon!!

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