📰© orporate Updates on 23.9.2019
Ø Blackstone REIT’s success lures global funds to India
Ø No plans to revise fiscal deficit target: Sitharaman
Ø SBI to roll out co-lending model with 4-5 NBFCs
Ø Committed to meet India's energy needs: Saudi envoy
Ø Default rating puts RCap's $5 bn debt at risk
Ø Scooters India strategic sale on hold amid auto slump
Ø Petronet signs $ 2.5 bn deal for stake in US LNG plant
Ø Top 1,000 listed firms may see tax savings of Rs 37k cr on tax cut: CRISIL
Ø PM Modi meets energy sector CEOs in US, discusses investment opportunities
Ø 361 infra projects show cost overruns of over Rs 3.77 trillion, says report
Ø Reliance Capital protests after rating agency downgrades debt to 'default'
Ø Hero MotoCorp might see reduction in earlier-projected capex of Rs 1,500 cr
Ø Tax cut a big boost for foreign firms to invest in India: FM
Ø India’s coal import declines about 4% to 19 mn tonnes in July
Ø Petrol price soars ₹1.59/ltr, diesel ₹1.31/ltr after Saudi Arabia attacks
Ø Oil and gas sector expects 5% GST to favour hydrocarbon exploration
Ø Dr Reddy’s halts worldwide supply of Ranitidine
Ø Govt. working on measures to make steel sector 'globally competitive'
Ø Altico says evaluating options after default
Ø Big Oil’s future may rest on climate debate over natural gas
Ø HKEX said to rope in UBS, other banks to court LSE investors
Ø Big Oil’s future may rest on climate debate over natural gas
Ø Cipla announces closure of USFDA inspection at Bengaluru facility
Ø US likely to escalate trade war with China if no deal is agreed soon
Ø WTO dispute over India’s tariffs on ICT goods: US seeks setting by up of dispute panel
Ø Government to make changes in rules of trade remedies to make them more effective
Ø Thomas Cook UK nears collapse as travel giant relying on unlikely Govt bailout
Ø Non-life insurers register 17 pc rise in Aug new premium income at Rs. 15,964 cr
Ø FPIs withdraw Rs. 4,193 cr from capital markets in Sept so far
Ø Sugar industry set to start exports to China, Iran
Ø SFIO challenges NCLT probe orders
Ø Banking, FMCG to benefit from corp tax cut; pharma, IT to remain untouched: Report
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🏦Capital Market Updates
🔺Gravita India’s subsidiary plans to enhance its West Africa lead recycling plant capacity to 12,000 TPA from 6,000 MTPA. A positive for the company. Accumulate.
🔺Biocon has licensed three generic formulation products to China Medical System Holdings. It is a 10-year agreement and the total addressable market size is ~$0.8 billion. Its future looks bright. Accumulate.
🔺Dr. Reddy’s Laboratories’ Visakhapatnam plant has received an Establishment Inspection Report (EIR) from the USFDA. A positive for the company. Accumulate.
🔺State Bank of India has raised ~Rs.3500 crore by selling 4.5% stake in its Life Insurance arm. This will help improve its liquidity. A good time to accumulate this share.
🔺The Delhi High Court has restrained BJP leaders and social media platforms from publishing false and defamatory remarks against Indiabulls Housing Finance while other on-going investigations are likely to be in its favour. Investors with a risk appetite may accumulate this share.
🔺Reliance Industries plans to list Jio, which ended Q1FY20 with 331.3 million subscribers, in about two years. Its future looks bright. Buy for the long term.
🔺Tata Power Co. plans to sell 50% stake in South African joint venture Cennergi for ~Rs.761 crore. Accumulate.
🔺V-Mart Retail expects about 7% growth in sales this year. Its prospects look bright. Buy.
🔺REC and Power Finance Corporation have fallen sharply in line with the market sentiment. This may be the best time to invest in these stocks.
🔺Hotel stocks are likely to gain on expectations of a GST rate cut on luxury hotels. A positive for companies like Indian Hotels Co. and Chalet Hotels.
🔺Prabhat Dairy, which sold its dairy business for ~Rs.1700 crore (more than its market cap), is worth adding. Investors with a risk appetite may accumulate.
🔺This is a good time to accumulate defensive stocks like Granules India, which has consistently reported strong profitability.
🔺Graphite India, which manages its liquidity well, has become very volatile as it attempts to break the upper bands. Accumulate.
🔺NTPC, a Maharatna company, remains one of the best investment bets in times of crisis despite the operational glitches at some of its plants.
🔺The launch of CNG busses and phasing out of diesel variants augurs well for Mahanagar Gas. Accumulate.
🔺ITC sees growth in its non-cigarette business. This FMCG company has a liberal pay-out policy. Accumulate.
🔺63 Moons Technologies is on its northward journey after the court lifted the ban on its assets. Good times are not far off. Accumulate.
🔺Jindal Saw has managed to withstand the headwinds. The stock looks very attractive for investment at Rs.84.6.
🔺Once the energy sector revives, BGR Energy Systems will be one of the first ones to move ahead. Accumulate in small quantities.
🔺Laurus Labs is likely to acquire Phekolong Pharmaceuticals (South Africa). A positive for the company. Accumulate.
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👉🏻CBDT issues order to set-up National centre for e-Assessment
(A National e-Assessment centre (NeAC) will be setup in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for income tax payers from next month)
👇🏻 👇🏻 👇🏻
http://bit.ly/2kZqsyb
👉🏻GST Council takes in-principle decision to link Aadhaar with registration
(link Aadhaar with registration of taxpayers under GST and also examine the possibility of making the 12-digit unique identification number mandatory for claiming refunds)
👇🏻 👇🏻 👇🏻
http://bit.ly/2m6L3kE
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Exemption from TDS on cash withdrawal under section 194N for making payment to farmers – Central Government specifies the commission agent or trader, operating under Agriculture Produce Market Committee (APMC)- Notification No. 70/2019-Income Tax Dated 20th September, 2019.
Tax Audit & Penalty of Rs. 10,000/- on chartered Accountants for error in the audit report. any mistake by the Chartered Accountant in the Tax Audit Report will cost him Rs. 10,000/- as per Section 271J of the Income Tax Act, 1961.
Income-tax (9th Amendment) Rules, 2019 – Additional depreciation on motor cars and motor vehicles shall be allowed in certain conditions- Notification No. 69/2019-Income Tax Dated 20th September, 2019.
GST Council reduced the taxes on hotel rooms to the 0-18% range depending on their tariffs and cut the rate for outdoor catering to 5% without an option to claim input tax credit. Besides, the Council increased the tax rate for caffeinated drinks to 28% from 18%; as these beverages, touted to be harmful to health, are now in the highest tax bracket, they will now also be subjected to a 12% cess.
GST Council did away with the requirement of filing annual returns for taxpayers up to Rs 2 crore turnover, as part of the moves to reduce compliance burden. However, it also introduced some new slabs for items like semi-precious stones, complicating the GST structure even further.
GST Council took an in principle decision to link Aadhaar with registration of taxpayers under GST and also examine the possibility of making the 12-digit unique identification number mandatory for claiming refunds.
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Railway equipment-makers welcome 12% hike in GST:
READ MORE- https://www.gststation.in/railway-equipment-makers-welcome-12-hike-in-gst/
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GST sleuths raid rice millers for tax evasion:
READ MORE- https://www.gststation.in/gst-sleuths-raid-rice-millers-for-tax-evasion/
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Govt expects Rs 40k-cr GST shortfall:
READ MORE: https://www.gststation.in/govt-expects-rs-40k-cr-gst-shortfall/
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ITC surges 8% on GST cut for hotel rooms:
READ MORE- https://www.gststation.in/itc-surges-8-on-gst-cut-for-hotel-rooms/
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👉GST Annual filing waived off for taxpayers below Rs 2 cr turnover.
👉Shares of hotel industry rallied up to 13 per cent in early trade on Monday after the GST Council last week cut tax rate on hotel room tariffs.
👉The RBI may cut the benchmark rate by up to a quarter percentage point in October against an anticipated 25-40 basis points after Finance Minister announced a host of fiscal measures on Friday .
👉A national e-assessment centre (NeAC) will be set up in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for income tax payers from next month.
👉The government is expecting a shortfall of around Rs 40,000 crore in the GST collections over what has been budgeted for 2019-20.
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Lower GST on diamond job work, sector cheers over Rs 200-cr export refund:
READ MORE- https://www.gststation.in/lower-gst-on-diamond-job-work-sector-cheers-over-rs-200-cr-export-refund/
Thanks for reading🙏
