Sterlite Tech impresses US investors - Emkay

Pure data play

* We hosted a 4-day investor interaction with Sterlite Tech’s (SOTL) Management in the USA. We maintain BUY on the stock with strong earnings growth of 49%/30% over FY18E/19E underpinning our view.

* Most of the 18 investors who interacted with the Management were bullish on the stock and the industry prospects, believing

29/05/2017 3:13:20 PM | Posted in Special Event Reports read full news
Indian firms' foreign borrowings in April triple to $1.3 bn

Mumbai, Indian firms' external commercial borrowings (ECBs) in April went up more than three-fold to $1.30 billion, while ECBs were at $304.57 million in the same month of 2016, the Reserve Bank of India (RBI) has said.

According to RBI data released here on Thursday, the borrowings by Indian companies in April this year included $1.27 billion through the automati

27/05/2017 11:10:55 AM | Posted in Special Event Reports read full news
Finally 9600 is a reality; one should look to book profits now - Angel Broking

Below is the Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking Pvt Ltd)

Technical Outlook

Finally, 9600 is a reality now as we saw markets continuing their optimism for the second consecutive day. The rally was clearly propelled by the Metal conglomerates that st

26/05/2017 4:25:21 PM | Posted in Special Event Reports read full news
MIAL bags the CII Renovative Kaizen award

Mumbai May 25, 2017:

GVK Mumbai International Airport Pvt. Limited (MIAL), the company that administers the Chhatrapati Shivaji International Airport (CSIA) was awarded the top rank at the 30th Kaizen Conference & Competition held on May 16 by the Confederation of Indian Industry (CII) for creating a reusable dummy aircraft from scrap ma

26/05/2017 2:55:53 PM | Posted in Special Event Reports read full news
RBI notification casts light on measures aimed at resolving bad loans - Kotak Sec

RBI notification casts light on measures aimed at resolving bad loans.

An RBI notification (1) clarifies its powers under a recent ordinance (2) allows the formation of oversight committees (OCs) under its aegis, (3) allows the formation of independent committees to decide a framework for reference for the Insolvency Code (IBC). RBI is also exploring t

23/05/2017 5:39:31 PM | Posted in Special Event Reports read full news
GST Update The Biggest Reform Set to Roll-Out - Reliance Sec

The Biggest Reform Set to Roll-Out

With the finalization of GST rates for all goods and services (barring few), India finally appears to bid adieu to the seventy-year old indirect taxation framework and is likely to roll-out unified tax “Goods and Services Tax” (GST) regime from 1st July’17. While it was difficult for the government

23/05/2017 4:50:12 PM | Posted in Special Event Reports read full news
Equirus Event Update Note - Equirus Sec

The GST council recently announced GST rates for majority of the products. We consider the impact of the same on various players. To understand the impact of current Excise + VAT structure and compare it with GST rates we have taken VAT rates applicable in Mumbai for various products. We broadly believe that rates are in-line with expectations except a few negative surprises like a 28% rate on

22/05/2017 3:13:59 PM | Posted in Special Event Reports read full news
GST rate on most services at 18% versus the current 15% - Kotak Sec

GST: The finishing line is finally here.

We believe GST is all set to be implemented on July 1, 2017 with (1) the GST Council finalizing the GST rates on almost all goods and services and (2) 12 states passing the state GST laws; more will do so over the next few weeks. The government has followed a multi-pronged approach to prepare for the implementa

22/05/2017 1:55:49 PM | Posted in Special Event Reports read full news
Manifestos indicate future tense for Great Britain

The ruling Conservatives, opposition Labour and Liberal Democrats have unveiled their manifestos for the 2017 general elections. Whoever comes to power on June 8 will follow the manifesto commitments and they are the blueprints for the creation of post-Brexit Britain. The contents in the manifestos indicate the life wont be same for an average Britain after the elections.


The

21/05/2017 10:17:38 AM | Posted in Special Event Reports read full news
PaySense raises $5.3m in Series A led by Jungle Ventures with participation from Naspers and Nexus Ventures

Mumbai, May 18, 2017:  PaySense, India’s fastest growing digital credit platform, today announced their Series A funding of $5.3 million. The round was led by Jungle Ventures with participation from Naspers Group and Nexus Venture Partners.  The company had raised an earlier round of investment of $2.3 million led by Nexus Venture Partners and pr

BOE Monetary Policy Update - Angel Broking

Rising inflation to weaken Britain’s economic activity; prompts BoE to stand pat

On 11 th May’17, seven out of eight policymakers from Bank of England’s Monetary Policy Committee voted to maintain the borrowing rates at 0.25 percent. It left its plans for government and corporate bond purchases which amounted to £435 billion un

17/05/2017 1:43:34 PM | Posted in Special Event Reports read full news
Trade Review - Sharp rebound in trade activity - Emaky

Sharp rebound in trade activity

Trade deficit widens for 2nd consecutive month to USD 13.2bn in Apr’17 to reflect improved trade activities emanating from better domestic consumption, global cyclical upturn and recovery in commodity prices. Cyclical recovery in advance economies, especially in Europe and the spill-over effect on Asia have strengt

16/05/2017 4:21:24 PM | Posted in Special Event Reports read full news
India Strategy - 4QFY17 interim earnings review - Motilal Oswal

4QFY17 interim earnings review

In-line so far; margin contraction evident

* 81 MOSL Universe companies and 24 Nifty companies have declared their 4QFY17 results as of Saturday, May 13, 2017.

* These companies comprise (a) 50% of estimated PAT for MOSL Universe and 52% of estimated PAT for Nifty, and (c) 38% of Indi

16/05/2017 4:13:28 PM | Posted in Special Event Reports read full news
India Strategy - Pledged holding analysis, March 2017 quarter - Kotak Sec

Pledged holding analysis, March 2017 quarter.

Our analysis of pledged holdings of BSE-500 stocks shows that the percentage of pledged promoter (majority shareholders) holdings has decreased in the March quarter in comparison to the December quarter. The percentage of promoter pledged holding decreased to 9% in March 2017 compared to 9.3% in December.

16/05/2017 4:02:07 PM | Posted in Special Event Reports read full news
IIP grew 5% in FY17, not 0.5% - Motilal Oswal

IIP grew 5% in FY17, not 0.5%

Like GDP, the new IIP series shows way more robust growth than the old series

* As per the new series with 2011-12 as the base year, the index of industrial production (IIP) grew 2.7% YoY in March 2017, better than +1.9% in February. In March 2017, while the manufacturing sector grew at the slo

16/05/2017 3:51:26 PM | Posted in Special Event Reports read full news
What can stop the RBI from cutting rates further now - Motilal Oswal

What can stop the RBI from cutting rates further now?

Inflation eased to record-low in April 2017

* In contrast to market consensus (and our expectation) of 3.3%, CPI inflation eased sharply from 3.9% YoY in March 2017 to 3% last month, marking the lowest level since the new series began in 2012.

* Although IIP (w

16/05/2017 3:43:10 PM | Posted in Special Event Reports read full news
India will get to China`s level of cement consumption as per our Excel sheets - Kotak Sec

The curious case of the Indian cement sector, Part 2.

A reverse valuation exercise of the Indian cement sector shows rather remarkable results—(1) India will reach China’s peak cement consumption level in 20 years and (2) it will consume China’s peak cement volumes in perpetuity after that. China took 20 years to reach peak cement dem

16/05/2017 2:03:03 PM | Posted in Special Event Reports read full news
IIP, CPI and WPI Review - New Series reports higher growth and lower inflation - Emkay

Mar’17 IIP (new series) grew at 2.7% YoY, slightly higher than our expectation of 1.8%. According to the new series, the growth in last two months has slowed down despite improvement in the exports growth and higher government spending. Higher items under the new IIP series will be reported in value terms, which is likely to increase the influence of WPI inflation on IIP. Remonetisation,

16/05/2017 1:57:17 PM | Posted in Special Event Reports read full news
CPI inflation slips lower; core inflation at a 10-month low - Kotak Sec

Benign inflation, robust production.

Lower CPI and WPI inflations (base 2011-12) were largely attributable to the favorable base effect. Core CPI inflation also inched lower to 4.4% from 4.84%. While we expect around 50 bps of downside to RBI’s March 2018 estimate of 5%, the headline inflation is likely to still remain higher than the medium-term

15/05/2017 3:48:52 PM | Posted in Special Event Reports read full news
IT companies disappointed again with weak quarterly performance - Kotak Sec

The wait continues.

Tier-1 IT companies disappointed again with weak quarterly performance and outlook that barely met expectations. Rationale for lower-than-expected outlook was optimism of financial services clients not immediately translating into projects. We also believe that the drag from legacy business continues at a pace higher than new digital business. Sto

15/05/2017 3:33:55 PM | Posted in Special Event Reports read full news
The New age Marketing Guru: An interview with Molly Kapoor

Molly Kapoor, Head of Marketing of a leading Asset Management Company and one of the India’s leading Top Marketing Leader in a candid discussion with our editorial team and sharing her thoughts on multiple topics.

 

Q1. Mutual Fund is one of the highly regulated products, as marketing leader how do you manage to be innovative and creative

14/05/2017 11:39:25 AM | Posted in Mutual Fund Expert Views read full news
Review for the month of April, 2017 - Reliance Sec

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of April, 2017 declined by 0.2 percent to 113.2 (provisional) from 113.4 (provisional) for the previous month.

 

INFLATION  

The annual rate of inflation, based on monthly WPI, stood at 3.85% (provisional) for the month o

13/05/2017 5:05:00 PM | Posted in Special Event Reports read full news
India Strategy - FPI inflows to continue albeit at a slower pace - ICICI Securities

FPI inflows to continue albeit at a slower pace

FPI Inflows into EM equities (USD 25.3 bn) and debt (USD 35.7 bn) picked up significantly in Q4FY17 and registered the highest combined quarterly inflow into EM stocks and bonds since March ‘15. Strong EM inflows have resulted in outperformance of EM currencies against USD (INR appreciated by 4.7% i

12/05/2017 4:51:37 PM | Posted in Special Event Reports read full news
RBI modifies the earlier JLF scheme to aid faster decisions - Kotak Sec

Adds clarity and urgency.

RBI and the government made a few changes to resolve the chronic NPL problem plaguing the sector. The government notified an amendment to the Banking Regulation Act which aims to provide more clarity to the RBI on the issue. RBI in turn has marginally diluted the JLF scheme to accelerate the pace of resolution under JLF/CAP vo

10/05/2017 12:35:17 PM | Posted in Special Event Reports read full news
We expect the current benchmark 10-yr paper to range in 6.90%-7.00% during the week - Kotak Sec

* Liquidity surplus remains intact.

The weekly average surplus remained unchanged at ~Rs 3.8 tn for the week ending May 6, amid month-end government spending even as outflows related to MSS, regular auction outflows and CIC continued to offset the increase. The government continued to utilize WMA to the extent of Rs 157bn as on Apr 28 though, lower tha

10/05/2017 12:29:40 PM | Posted in Special Event Reports read full news