कमोडिटी बाजार : एग्री कमोडिटी : GST का फायदा ग्राहक को नहीं दिया तो लगेगी पैनेल्टी और लाइसेंस भी हो सकता है रद्द

GST के प्रावधानों के मुताबिक कम टैक्स से मिलने वाले फायदे ग्राहकों को नहीं देने वाले कारोबारियों को जुर्माने का सामना करना पड़ेगा और उनका लाइसेंस भी रद्द हो सकता है। मंगलवार को जारी किए गए नए एंटी.प्रॉफिटिअरिंग रूल्स के मुताबिक पांच सदस्यीय नेशनल एंटी.प्रॉफिटिअरिंग अथॉरिटी को कम टैक्स के जितनी कीमतों में कमी के लिए मजबूर करने की शक्ति दी गई है। किसी फर्म के ऐसा न करने पर उस पर पैनेल्टी लगाई जा सकती है या उसका रजिस्ट्रेशन भी रद्द हो सकता है।

इस अथॉरिटी के प्रमुख, सेक्रटरी लेवल के एक अधिकारी होंगे। इसके पास कम टैक्स का फायदा ग्राहकों को नहीं देने वाले किसी कारोबारी को इस वजह से मिलने वाले गैर.वाजिब मुनाफे को 18 पर्सेंट के इंट्रेस्ट के साथ लौटाने के लिए मजबूर करने की शक्ति होगी। अथॉरिटी ग्राहकों को कीमतों में कमी कर टैक्स का फायदा देने को तय करने के तरीके पर खुद फैसला करेगी।

लिखित में दी जाने वाली सभी शिकायतों पर विचार करने के लिए एंटी.प्रॉफिटिअरिंग पर एक नैशनल लेवल की स्टैंडिंग कमेटी होगी। इसके अलावा प्रत्येक राज्य स्थानीय समस्याओं की जांच के लिए एक स्क्रीनिंग कमेटिी बनाएगा। शिकायत की शुरुआती जांच के लिए दो महीने की सीमा तय की गई है। स्क्रीनिंग कमिटी अपने निष्कर्ष स्टैंडिंग कमेटी को भेजेगी। 

अगर शुरुआती नजर में मामला बनेगा तो उसे उपयुक्त जांच के लिए डायरेक्टर जनरल ऑफ सेफगार्ड्स के पास भेजा जाएगा। डायरेक्टर जनरल तीन महीने के अंदर अपनी रिपोर्ट अथॉरिटी को देंगे। इसके बाद अथॉरिटी बहुमत से फैसला करेगी।

सभी एंटिटीज को अथॉरिटी की ओर से पास किए गए ऑर्डर का पालन करना होगा। ऐसा न करने पर उनसे जीएसटी कानून के अनुसार रकम वसूली जाएगी। अथॉरिटी के चेयरमैन और मेंबर्स की नियुक्ति केंद्र सरकार करेगी। इसके लिए जीएसटी काउंसिल की ओर से बनाई गई एक सिलेक्शन कमिटी सरकार को सुझाव देगी। चेयरमेन को 2.25 लाख के मासिक वेतन के अलावा केंद्र सरकार के समान पद पर तैनात अधिकारी को मिलने वाले अन्य भत्ते और लाभ दिए जाएंगे। टेक्निकल मेंबर्स को 2,05,400 रुपये का मासिक वेतन मिलेगा।

ग्रांट थ्रॉनटन इंडिया के पार्टनर सुरेश नंदलाल रोहिरा ने कहा कि ये नियम दोधारी तलवार की तरह दिख रहे हैं। उनका कहना था, ‘यह महत्वपूर्ण है कि किसी भी वैध कमी का फायदा ग्राहक को दिया जाए। हालांकि, इंडस्ट्री को इस बात की चिंता होगी कि उस पर प्राइस में गैर वाजिब कटौती करने के लिए दबाव न डाला जाए।’ नीचे दिए लिंक पर क्लिक कर मार्केट टाइम्स के टीवी को भी आप फ्री सब्सक्राइब कर सकते हैं।

Source: MarketTimesTv

More will update soon!!

Read More

Technical Pick– Tata Communication

Technical View – Tata Communication

Observation

•Tata communication is finding support at 735 and resistance at 755. .

• Tata communication trading above 21 and below 55 days moving average which is at 742 and 744 respectively. 

MACD showing positive momentum which indicates that upside side seems certain in it.

• Daily 14 period RSI has turned up from near 67 levels. As per the bullish high low theory of 40-70 levels, the weekly RSI is expected to move up to 70-75 levels from the current reading of 67. This could mean continuation of upside momentum in the stock price ahead.

•Break and sustain above 755 will see nonstop rally in Tata communication till 775++ in weeks to come.

•We believe the stock has the potential to move higher in the coming weeks as bullish trend will be seen above 755 level. 

Trading Recommendation 

 Buy Tata communication above 755 for the initial upside target of 775 with stop loss below 735 on closing basis.   

           More will update soon!!               

Read More

Currency Report 21st June 2017

Rupee depreciates on dollar buying

Indian rupee depreciated against the US dollar on Tuesday, due to fresh demand for the American currency from banks and importers. Sentiments remained subdued with finance minister Arun Jaitley’s statement that the economy will have to face short-term challenges in implementing the biggest tax reforms since Independence. Some concern also came with Fitch Rating’s latest report that demonetisation of old Rs 500 and 1,000 notes had a material impact on spending as reflected in significant slowing of GDP growth in January-March and warned that the ongoing steep decline in investment could spell risks to growth potential. Besides, dollar’s strength against some currencies overseas also pushed down the rupee. On the global front, dollar hit a three-week high against a basket of currencies on Tuesday, after an influential Federal Reserve official said U.S. inflation would pick up as wages improved, bolstering bets on the Fed continuing to raise interest rates

USDINR (June)

Support at 64.30 and resistance at 64.60

Above 64.60 rally remain continue till 64.75—64.90 and then to 65.10 mark, else could touch its support level of 64.30 mark.

Fresh selling can be initiated below 64.30

GBPINR

Yesterday we clearly indicated GBP INR looks weak below 82.30, Just made low of 81.65

Now what to expect??

Support at 81.50  , Break and sustain below 81.50 will take it to 81.20---80.80 mark else could touch its resistance level of 82.00

Fresh buying can be initiated above 82.00 mark.

EURINR

Support at 71.95  and resistance 72.40

Trading in range either side breakout with volumes will decide further.

JPYINR

Support at 57.80 Resistance at 58.35 

Trading in range either side breakout with volumes will decide further.

More will update soon!!

Read More

India asks Qatar to invest in power plants as condition for LNG deals

India on Tuesday said it would sign future long-term liquefied natural gas (LNG) purchase deals with Qatar if only Doha agrees to acquire stakes in the South Asian nation's power plants, oil minister Dharmendra Pradhan said.

India is the latest major LNG buyer to seek concessions from Qatar, the world's biggest LNG exporter, in order to re-sign long-term supply contracts. Amid a global glut of LNG and a slump in prices, other buyers have sought more flexible contracts, including clauses that would allow them to resell gas they do not consume.

"Yesterday, we have given a firm proposal to Qatar. If they want to have a long-term off-take assurance, there is a window. They can deal with our stranded power plants, from end to end they can give some solution," Pradhan told Reuters on Tuesday.

India is suffering from natural gas shortages that have required power plants with capacity of as much as 25,000 megawatts to shut down or run as lower rates. Qatar's RasGas is India's biggest LNG supplier. 

(http://in.reuters.com/article/india-qatar-idINKBN19B0I8)

More will update soon!!

Read More

M&M More Preferred Than Volkswagen, Toyota

Four out of five most-recommended auto stocks in the world are Indian, leaving behind the top carmakers like Volkswagen AG, Toyota Motor Corp., Ford Motor Co. and Honda Motor Co.

Mahindra & Mahindra Ltd. leads this chart with 40 out of 46 analysts tracked by Bloomberg having a ‘buy’ rating on the stock.

It’s followed by Maruti Suzuki Ltd., with 39 of 53 analysts rating India’s largest carmaker a ‘buy’. Tata Motors Ltd. is the next in line with 78 percent ‘buy’ calls.

Hyundai Motor Co. is the only global company in the top five. Eicher Motors completes the list, being the fifth most preferred auto stock.

Only companies with 20 or more ‘buy’ ratings were considered for the analysis

(https://www.bloombergquint.com/charts/2017/06/20/indian-auto-companies-mahindra-and-mahindra-more-preferred-than-volkswagen-toyota-2)

More will update soon!!

Read More

Rice, cotton MSP raised as farmers' protest intensifies

Government raised minimum purchase prices for rice, cotton and other crops by the most since Prime Minister Narendra Modi came to power in 2014, according a government circular seen by Reuters, amid ongoing protests in the country's biggest farming states.

Prices paid to local farmers for common grade paddy rice are to be raised by 5.4 percent to 1,550 rupees ($24.03) per 100 kg for the year starting on July 1, while long staple cotton prices have been hiked by 3.8 percent to 4,320 rupees per 100 kg.

The increases for rice, cotton and other crops follow an outburst of discontent in the heartland states of Madhya Pradesh and neighbouring Maharashtra as farmers sought higher prices and debt relief.

The unrest has posed a challenge to regional BJP leaders and Modi, who have promised to double farmers' incomes over the next five years.

India is the world's biggest rice exporter and buys the grain from local farmers to protect them from distressed sales and to build stocks for welfare programmes.

The government fixes minimum prices for more than two dozen farm commodities, although it mainly procures wheat and rice.

Growers of other crops like onions, tomatoes and potatoes are also protesting due to steep falls in the prices of their produce and the absence of the government buying.

The government has also raised soybean prices by 9.9 percent to 3,050 rupees per 100 kg, and corn by 7.1 percent to 1,425 rupees per 100 kg, effective from July 1. The increases for these two grains were also the greatest since 2012/13.

 (http://in.reuters.com/article/india-farmers-prices-idINKBN19B0SN)

More will update soon!!

Read More

Paytm now wants to disrupt financial markets, seeks licence to start mutual fund

Paytm, which opened a payments bank last month, is now looking to disrupt the financial sector as it has applied for a licence to set up a money-market mutual fund (an open-ended mutual fund) that invests in treasury bills and commercial papers for a short term.

This would increase its offering to its customers, who can park their surplus cash and earn interest. Earlier in the year, it started digital trading in gold.

As per the RBI norm, payments banks can accept deposit up to Rs 1 lakh from a customer but it can’t lend money. They can issue ATM/debit card and distribute financial products like mutual fund and insurance. Paytm had received the payments bank licence in 2015.

Paytm founder Vijay Shekhar Sharma holds 51 percent stake in the Paytm Payments Bank and wants to replicate the business model of Alibaba which has set up Yu’E Bao Fund that has become the world's largest money market fund.

Their customer base increased rapidly after the note ban which was enforced in November last year and has touched over 250 million users.

More will update soon!!

Read More

Income Tax dept issues notices to ‘farmers’ claiming suspect agricultural income

The Income-Tax department has issued notices to tax assessees who have shown unusually high income from agricultural activities, sources told Moneycontrol.

Notices have been sent to around 700 individuals who have shown more than Rs 20 lakh as farm income. In all these cases, the farm income turns out to be higher than their main source of income, and the department suspects the veracity of the claim.

In Mumbai alone, the I-T has sent notices to around 100 people. In quite a few cases, the so-called farm income is twice the income from the main source of income they have been reporting in the past.

“Some of the recipients even don’t have the large land parcel to justify the quantum of agricultural income they have declared,” a senior I-T official said, adding that the farm income is actually money earned from other sources.

Agriculture income in the country is exempt from tax, and so the I-T feels that income is being misreported to evade tax.

“Neither the government nor income tax is targeting farmers, but anybody who is evading tax on the name of agriculture income will be dealt with strictly,” the official said.

Last year, Firstpost columnist RN Bhaskar had written about how the number of people who filed income tax returns declaring agricultural income swelled from 2.46 lakh assessees in 2009 to 4.25 lakh in 2010 to 6.56 lakh in 2011 and then to 8.12 lakh people in 2012.

Excerpt from the article:

“The total income declared by them (8.12 lakh assessees in 2011 and 2012 was a stupefying Rs 874 lakh crore. That represents over 125 years of total taxes garnered by the government in any given year. The average income declared by each assessee during those years was an equally unbelievable Rs 30 crore and Rs 80 crore respectively. Obviously, even if you take the most fertile land with the most expensive crop, average incomes of Rs 80 crore are not easy to come by.

More will update soon!!

Read More

Canara Bank to Sell 8.9% Stake in CARE; Sets Floor Price at Rs 1,500

New Delhi: State-owned Canara Bank has decided to sell nearly 9 perent stake in the credit ratings firm CARE Ltd that could fetch it over Rs 393 crore.

Inviting bids from merchant bankers, Canara Bank, in the bid document said: "Our bank is proposing to sell 26,22,430 equity share of Credit Analysis and Research Ltd (CARE Ltd) comprising of 8.90 percent of the total paid up equity share capital of the company with a floor price of Rs 1,500 per share."

The floor price is at a premium over CARE Ltd's current stock price on BSE.

The minimum lot size of the bid is one lakh shares, the bank said, asking the arrangers to submit the same by noon of June 23.

It said the bids shall be evaluated after taking into account the price per share, quantum of shares and arranger fees.

The arranger(s) will be shortlisted and appointed based on the highest price, the bank said, adding that if more than one arranger has matched the highest bid price, then it will proportionately pass on the quantum among them.

The Bengaluru headquartered lender said it will complete the sale proceedings by 3 PM on June 30.

While Canara Bank stock closed 0.93 percent down at Rs 352.55 on BSE, that of CARE was down 2.09 percent at Rs 1,454.70. 

More will update soon!!

Read More

Update on Nifty levels and Bank Nifty levels of the day 21st June 2017

Nifty 9,653 /Sensex 31,297 / Bank Nifty 23,697

26 Advances / 25 Declines/ 0 Unchanged

Indian benchmarks end on negative note; Nifty manage to hold 9650 mark

It turned out to be a vulnerable performance from Indian benchmark indices on Tuesday, as they failed to snap the session in the green territory and settled marginally below the neutral lines. Sentiments remained subdued after finance minister Arun Jaitley said that the economy will have to face short-term challenges in implementing the biggest tax reforms since Independence. He further added that the official launch of the GST will take place on the midnight of June 30 at a function, which will be organized in Central Hall of Parliament. The optimism in domestic markets petered out completely by the end of trade and the benchmarks even drifted in to the negative territory despite getting off to a gap-up opening. Shares of IT companies rose following overnight rebound in US technology stocks, while banking stocks declined after Punjab joined Maharashtra and Uttar Pradesh in announcing sops for farmers. Punjab Chief Minister Amarinder Singh on Monday announced a total waiver of entire crop loans of 8.75 lakh small and marginal farmers.

Some concerns also came with report that foreign portfolio investors (FPIs) sold shares worth a net Rs 250 crore on June 19, 2017. However, the downside risks for the frontline indices was limited by Fitch Ratings' latest report indicating that India's economic growth is expected to rise by 7.4% and 7.6% in the next two fiscal years. The rating agency added that the investment in India is also expected to witness gradual rise owing to transmission of supportive monetary policy along with the government's various structural reforms. Some support also came with India, pitching for a greater engagement with BRICS (Brazil, Russia, India, China and South Africa) nations on issues the international community addressed during BRICS Foreign Ministers meeting in Beijing. Meanwhile, Airline stocks such as Spice Jet, Indigo and Jet Airways gained traction after passengers carried by domestic airlines grew by close 18% to 465.87 lakhs during January-May 2017 as against 396.04 lakhs in the corresponding period of previous year. 

On the global front, Asian equity markets made a mixed closing on Tuesday, with Japan's Nikkei index climbing around a percent, as the dollar hit a three-week high against the yen. Chinese shares remained subdued as investors await a decision on whether the MSCI index committee will include China A-shares in its Emerging Market Index. This will be China's fourth attempt at MSCI inclusion, after being passed over the first three times. Further, Hong Kong stocks declined as excitement over the city's plans for a new listing board for new economy companies waned, and investors shifted their attention to economic fundamentals. Meanwhile, European stocks were trading higher led by advances among tech and consumer-related shares.

Back home, the market breadth remained pessimistic, as there were 1229 shares on the gaining side against 1428 shares on the losing side, while 171 shares remained unchanged.

FII’s Activity 20-June-17

The FIIs as per Tuesday’s data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 3886.89 crore against gross selling of Rs 4058.44 crore. Thus, FIIs stood as net sellers of Rs 171.55 crore in equities.

In the debt segment, the gross purchase was of Rs 1745.12 crore with gross sales of Rs 671.00 crore. Thus, FIIs stood as net buyers of Rs 1074.12 crore in debt.

Now what to expect??

Nifty Levels

Support at 9580 and resistance at 9680

Above 9680 will see rally till 9730---9775 mark else it could test its support level of 9580 again.

Panic will see only close below 9580 level only

Bank Nifty Levels

Support at 23350 and resistance at 23700

Above 23700 will see further upside rally till 23900--24050

Fresh downside panic will see only close below 23350 mark.

Trade with levels only

AGM/Dividend/Bonus Today

Shriram Transport Finance Company Limited- Annual General Meeting/Dividend - Rs 6/- per Share

Havells India Limited- Annual General Meeting/Dividend - Rs 3.50 per Share

Oriental Bank of Commerce- Annual General Meeting

Punjab National Bank- Annual General Meeting

Pc Jeweller Limited- Bonus 1:1

More will update soon!!

Read More

Updates on Bullion, Base Metals and Energy Levels 20th June 17

Gold futures ended lower on Monday as the dollar strengthened against a basket of major currencies after hawkish comments from a top Fed official, but uncertainty created by the start of talks on the terms of Britain's departure from the European Union prevented deeper losses.

Crude oil futures after a day of break once again declined on Monday, as the dollar strengthened on expectations the Federal Reserve will again raise interest rates in the next few months. Traders overlooked Saudi Energy Minister Khalid Al-Falih downplaying the impact of rising output from Libya, Nigeria and the United States, insisting that the oil market is expected to balance in the fourth quarter. The Saudi Energy minister’s comments came ahead of data on Monday showing Libya's oil production has risen by over 50,000 bpd to 885,000 bpd after the state oil firm settled a dispute with Germany's Wintershal.

Comex copper futures ended higher on Monday, while London copper prices too improved by data from China that indicated stronger demand for the commodity which is used in construction and power.

Technical Level

Gold 

Support at 28500 and Resistance 28650

Close below 28500 will take it to 28250---28080 mark else could touch its resistance level of 28650.

Fresh buying can be initiated above 28650

.

Silver

Support at 38000 and Resistance at 38450

Close below 38000 will take it to 37700---37400 mark else could touch its resistance level of 38450 mark.

Fresh buying can be initiated above 38450 mark.

Crude (July)

Support at 2850 and Resistance at 2900

Close below 2850 will take to 2780---2730 and to our final target of 2696

Hurdle and stop loss intact above 2900 on closing basis.

Natural Gas

Support at 186.00 and Resistance at 190

Looks weak and could touch its support level of 186.00. Close below 186.00 will take it to 182---178 mark else could touch its resistance level of 190 again

Fresh buying can be initiated above 190 mark.

Copper 

Support at 363 and Resistance at 371

Trading in range either side breakout with volumes will decide further.

Economic Data

No major economic data today.!!

More will update soon!!

Read More