Wednesday 19 June 2019

Silver futures up on spot demand


Silver prices rose 0.03 per cent to Rs 37,317 per kg at the futures trade on Wednesday due to fresh positions created by speculators.

On the Multi Commodity Exchange, silver for delivery in July contracts went up by Rs 11, or 0.03 per cent, to Rs 37,317 per kg in a business turnover of 18,008 lots.

Similarly, the white metal for delivery in September contracts was trading higher by Rs 16, or 0.04 per cent, to Rs 37,720 per kg in a business turnover of 7,714 lots.

Market analysts attributed the rise in silver futures to fresh positions created by participants owing to an uptick in demand at the spot market.

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Crude oil futures up 1.15% on positive demand

Crude oil futures rose 1.15 per cent to Rs 3,775 per barrel on Wednesday after participants widened their bets, tracking a firm domestic trend.

On the Multi Commodity Exchange, crude oil contracts for June delivery traded higher by Rs 43, or 1.15 per cent, at Rs 3,775 per barrel with a business turnover of 15,174 lots.

Marketmen attributed the rise in crude oil futures to raising of bets by traders in tandem with firm overseas sentiments.

Globally, West Texas Intermediate crude was up 0.20 per cent to USD 54.01 per barrel, while Brent crude, the international benchmark, traded 0.19 per cent higher at USD 62.26 per barrel on the New York Mercantile Exchange.

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Gold futures up on fresh bets


Gold prices rose by Rs 29 to Rs 33,053 per 10 gram in the futures trade Wednesday as participants created fresh positions, tracking a firm trend in the domestic markets.

On the Multi Commodity Exchange, gold for delivery in August contracts traded higher by Rs 29, or 0.09 per cent, to Rs 33,053 per 10 gram in a business turnover of 17,767 lots.

The gold for delivery in October contracts also rose by Rs 14, or 0.04 per cent, to Rs 33,225 per 10 gram in 2,892 lots.

Market analysts said the rise in gold prices at futures trade was mostly due to widening of positions by participants in domestic markets.

Globally, the gold was trading a shade lower by 0.13 per cent at USD 1,348.90 an ounce in New York.

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Jet Airways के फाउंडर नरेश गोयल से पूछताछ कर सकता है ED


Jet Airways। इस बात के पूरे आसार हैं कि एनफोर्समेंट डायरेक्टोरेट Jet Airways के फाउंडर नरेश गोयल को नोटिस भेज सकता है। इकोनॉमिक टाइम्स के मुताबिक, इस मामले की जानकारी रखने वाले लोगों ने बताया कि Jet Airways में स्टेक सेल के दौरान कथित तौर पर की गई गड़बड़ियों को लेकर नरेश गोयल से पूछताछ किया जाएगा।

इसके साथ ही ED 650 करोड़ रुपए की टैक्स चोरी की भी जांच कर रहा है। एजेंसी यह पता लगाने की कोशिश कर रही है कि Jet Airways ने फॉरेन एक्सचेंज मैनेजमेंट एक्ट (FEMA) का उल्लंघन तो नहीं किया है। 

Jet Airways ने 2012 में पूर्ण स्वामित्व वाली जेट प्रिविलेज प्राइवेट लिमिटेड (JPPL) शुरू की थी। इस कंपनी में एतिहाद के 50.1 फीसदी हिस्सेदारी लेने के बाद इसे स्वतंत्र इकाई बना दिया गया। कंपनी में बाकी की 49.9 फीसदी हिस्सेदारी नरेश गोयल के पास थी। 2013 में एतिहाद ने Jet Airways में 24 फीसदी हिस्सेदारी खरीदी। ED ने पहले भी Jet Airways से कई बार JPPL में 15 करोड़ डॉलर में स्टेक सेल से जुड़े सवाल किए थे। लेकिन इस साल मई में ED के सीनियर अधिकारियों ने इस मामले विस्तृत तौर पर पूछताछ की।   

Jet Airways के शेयर 18 जून को गिरकर अपने ऑल टाइम लो पर पहुंच गए। इसके एक दिन पहले लेंडर्स ने कंपनी को बैंकरप्सी कोर्ट NCLT में ले जाने का फैसला किया था। Jet Airways की आखिरी उड़ान 17 अप्रैल को थी। तमाम कोशिशों के बावजूद कंपनी में हिस्सेदारी खरीदने को लेकर कोई पुख्ता प्रस्ताव नहीं आया था।

ED अब यह पता लगाने की कोशिश कर रहा है कि एतिहाद ने कंपनी में हिस्सेदारी खरीदने से पहले FIPB से सभी जरूरी मंजूरी हासिल किए थे या नहीं।

इस मामले की जानकारी रखने वाले एक शख्स ने बताया कि शुरुआती जांच से ऐसे संकेत मिल रहे हैं कि कंपनी ने FDI नियमों का उल्लंघन किया है। Jet Airways ने इसके लिए -एयर ट्रांसपोर्ट सर्विस फर्म- टर्म का इस्तेमाल किया है।

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Gold inches lower as trade optimism, dovish ECB lift equities


Gold prices inched lower on Wednesday as hopes of a resolution to the Sino-U.S. trade spat and a dovish European Central Bank lifted riskier assets, while investors awaited the U.S. Federal Reserve's monetary policy decision later in the day.

Spot gold fell 0.09% to $1,344.92 per ounce, as of 0424 GMT, while U.S. gold futures declined 0.2% to $1,348.40 an ounce.

"We have equity markets surging because of (U.S. President Donald) Trump tweet last night, which has taken a lot of the scepticism out of the market," said Stephen Innes, managing partner at SPI Asset Management.

Equity markets jumped after Washington said it would resume trade talks with Beijing and as investors dared to hope the U.S. Federal Reserve would follow the lead of the ECB and open the door to future rate cuts at its policy meeting.

Trump said on Tuesday he had spoken to Chinese President Xi Jinping and that the two leaders' teams would restart trade talks after a long lull in order to prepare for a meeting at the G20 summit later this month.

There are a lot of uncertainties in the market, including tensions in the Middle East and a dovish Fed narrative, which should give support to gold, Innes said.

All eyes are now on the Fed which is scheduled to release a statement at 1800 GMT, followed by a press conference by Chairman Jerome Powell.

The Fed is widely expected to stand pat on monetary policy this time but open the door for an interest rate cut at its next meeting in July.

"We urge investors to temper bullish expectations on gold as an improvement in risk appetite from dovish monetary policy will cap gains for the non-interest bearing asset," Phillip Futures said in a note.

Denting the metal's appeal, the dollar index held near a more than two-week high, supported by a dovish ECB and bearish eurozone economic data.

"If the Fed comes out dovish or more dovish or as dovish as markets are pricing, it will weaken the U.S. dollar, which will add to gold's allure," Innes from SPI Asset Management said.

Among other precious metals, silver dipped 0.4% to $14.94 per ounce, while platinum rose 0.2% to $801.37.

Palladium was up 0.2% at a fresh 12-week high of $1,482.55 per ounce.

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सस्ती होंगी इलेक्ट्रिक गाड़ियां, GST 12% से घटाकर 5% करने की तैयारी


इलेक्ट्रिक गाड़ियों (EV) की बिक्री को बढ़ावा देने के लिए नरेंद्र मोदी सरकार GST में राहत दे सकती है। इकनॉमिक टाइम्स के मुताबिक सरकार इलेक्ट्रिक व्हीकल्स पर GST मौजूदा 12 फीसदी से घटाकर के 5 फीसदी कर सकती है।

इस पर फैसला लेने के लिए GST काउंसिल 20 जून को एक बैठक करने वाला है। इस मामले की जानकारी रखने वाले एक सीनियर अधिकारी ने बताया कि इलेक्ट्रिक गाड़ियों पर GST रेट घटाने का प्रस्ताव है। 20 जून की बैठक में इसके साथ ही कई दूसरे मुद्दों पर बातचीत होगी।

क्या है मकसद?

सरकार GST रेट घटाकर विदेशी कंपनियों को भारत में इलेक्ट्रिक गाड़ियां बनाने के लिए प्रोत्साहित करना चाहती है ताकि इनकी कीमतों में कमी आए। सरकार चाहती है कि ज्यादा से ज्यादा इलेक्ट्रिक गाड़ियों की बिक्री बढ़े ताकि प्रदूषण कम हो। पंजाब सरकार के निवेदन पर GST काउंसिल इलेक्ट्रिक गाड़ियों पर GST रेट घटाने पर विचार कर रहा है।

पंजाब सरकार ने लिखित तौर पर केंद्र सरकार से निवेदन किया था कि वह इलेक्ट्रिक गाड़ियों के GST रेट की समीक्षा करना चाहती है। राज्य सरकार का कहना था कि ऑटोमोबाइल्स, टेक्सटाइल्स, MSM और रियल एस्टेट को बढ़ावा देकर ही इकोनॉमी को पटरी पर लाया जा सकता है। फिस्कल ईयर 2019 में खत्म 5 साल में देश की आर्थिक ग्रोथ काफी कम हो गई है।

पंजाब के फाइनेंस मिनिस्टर मनप्रीत बादल ने यूनियन फाइनेंस मिनिस्टर और GST काउंसिल की चेयरमैन निर्मला सीतारमण को रेट कट का सुझाव दिया था।

ऑटोमोबाइल सेक्टर इन दिनों बुरे दौर से गुजर रहा है। इस सेक्टर की ग्रोथ पिछले 18 साल में सबसे कम रह गई है। मई में पैसेंजर व्हीकल्स की बिक्री 21 फीसदी घट गई। इसकी वजह से डीलरशिप खत्म करने पड़े और प्लांट बंद करने पड़े।

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मछुआरों के लिए मोदी सरकार का तोहफा, अब नेवी में मिलेगी जॉब


समद्र किनारे जीवन यापन करने वालों के लिए मोदी सरकार ने सुध लेनी शुरु कर दी है। सरकार मछुआरों को ट्रेनी देने का विचार कर रही है। जिसके बाद नेवी मैन (नाविक) बनने का रास्ता खुल जाएगा। केंद्रीय जहाजरानी मंत्री मनसुख लाल मांडविया ने इस बात की घोषणा की है।

मांडविया ने कहा कि देश में 7300 किलोमीटर लंबा समुद्री किनारा है। यहां पर रहने वाले लोगों का जीवन समुद्र पर ही निर्भर है। ऐसे में इन लोगों को ट्रेनिंग देकर नाविक बनाया जा सकता है। ताकि आगे चलकर आसानी से नौकरी मिल सके। दुनिया में भारत की इस क्षेत्र में काफी कम हिस्सेदारी है।

इस योजना के मुताबिक, 15 दिन की ट्रेनिंग दी जाएगी। इसके बाद जहाजरानी मंत्रालय से एक सार्टिफिकेट मिलेगा। इसके अलावा लोगों को अलग – अलग विभागों में भी ट्रेनिंग देने के लिए विचार किया जा रहा है। पूरी दुनिया में 50 लाख नाविकों की जरूरत है।

सरकारी आंकड़ों के मुताबिक, भारत या फिर विदेशी जहाज पर भारतीय नाविकों की संख्या में 35 फीसदी बढ़ोतरी हुई है। यह 1.54 लाख से बढ़कर 2.08 लाख हो चुका है। वहीं ट्रेनिंग करने वाले छात्रों की संख्या साल 2018 में बढ़कर 19,545 हो चुकी है। 2017 में यह आंकड़ा 14,307 था। इस हिसाब से इसमें 37 फीसदी बढ़ोतरी हुई है।

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Titan Company rallies 2% after UBS raises price target


Shares of Titan Company rallied 2 percent intraday on June 19 after global brokerage UBS raised price target on the stock by 28 percent.

"Company's aggressive growth strategy & flawless execution keep us bullish on the stock," the research firm reasoned.

UBS raised price target to Rs 1,600 from Rs 1,250 per share earlier, implying 28 percent potential upside from current levels.

"The upside fair value for the stock is Rs 1,800 per share while downside fair value is Rs 900," it said.

Titan Company had reported robust top-line growth across segments in the March quarter. Profit grew by 13 percent year-on-year to Rs 348.3 crore and total operating income rose 19 percent to Rs 4,888.8 crore in Q4FY18.

The stock has seen 55 percent upside in the last nine months. At 09:35 hours, it was quoting at Rs 1,274.75, up Rs 16.65, or 1.32 percent on the BSE.

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Oil gains amid Middle East tensions, US-China trade deal hopes


Oil prices extended gains on Wednesday after rising in the previous session on rekindled hopes for a U.S.-China trade deal and on the potential for conflict between the U.S. and Iran in the Middle East after tanker attacks there last week.

Brent crude futures were up 3 cents at $62.17 a barrel by 0330 GMT. They rose 2% on Tuesday.

U.S. West Texas Intermediate crude gained 12 cents to $54.02 a barrel. The U.S. benchmark surged 3.8% in the last session.

In a post on Twitter, U.S. President Donald Trump said preparations were starting for him to meet Chinese President Xi Jinping at the G20 summit in Osaka, Japan, next week.

That comes after talks to reach a broad deal on trade between the United States and China broke down last month after Washington accused the Chinese of backing away from previously agreed commitments.

Interaction between the two sides since then has been limited, and Trump has threatened, repeatedly, to slap more tariffs on Chinese products in an escalation that businesses in both countries want to avoid.

"Global demand for crude got a boost on expectations that trade talks are showing some positive signs following President Trump's tweets," said Edward Moya, senior market analyst at OANDA in New York.

Both oil benchmarks gave up earlier gains in the Asian session after data showed that Japan's exports fell for a sixth straight month in May as China-bound shipments weakened, underlining the impact of the trade war.

Tensions in the Middle East after last week's tanker attacks remain high, with Trump saying he was prepared to take military action to stop Iran having a nuclear bomb but leaving open whether he would sanction the use of force to protect Gulf oil supplies.

Fears of a confrontation between Iran and the United States have mounted since last Thursday's attacks, which Washington has blamed on Tehran. Iran has denied involvement.

Iran said this week it would breach internationally agreed curbs on its stock of low-enriched uranium within 10 days, possibly paving the way for the country to develop a nuclear weapon, adding that European nations still had time to save a landmark nuclear deal.

The U.S. is deploying about 1,000 more troops to the Middle East for what Washington said were defensive purposes, citing concerns about a threat from Iran.

Market participants are also waiting for a meeting between the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia, a group known as OPEC+, to decide whether to extend a supply reduction pact that ends this month.

OPEC and non-OPEC states are discussing holding meetings on July 10-12 in Vienna, a date range proposed by Iran, OPEC sources said on Tuesday. OPEC itself, however, is considering meeting on July 1-2 though it is still saying meeting will be held on June 25-26 on its website.

U.S. crude stocks also fell by 812,000 barrels last week to 482 million, industry group the American Petroleum Institute said on Tuesday.

The report from the government's Energy Information Administration are due later on Wednesday.

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IndiGo operator gains as Morgan Stanley sees raises target price


Shares of InterGlobe Aviation, the operator of low-cost carrier IndiGo, gained another one percent intraday on June 19 after global brokerage Morgan Stanley said it expects 28 percent potential upside from the current level.

"We maintain overweight call on the stock with a target price at Rs 2,132 after the company ordered CFM LEAP-1A engines worth $20 billion," the research firm said.

Order changes supplier for Neo engines from Pratt&Whitney to CFM and company may also gain from fleet mix changes as Neos come in, it added.

"We are positive on the stock due to market share gains and improving competitive landscape," Morgan Stanley said.

IndiGo, on June 17, ordered CFM International LEAP-1A engines to power its 280 Airbus A320neo and A321neo aircraft. The contract includes spare engines and an overhaul support agreement.

Global brokerage house Credit Suisse, on June 18, also maintained outperform call on the stock and raised the target price to Rs 1,900 from Rs 1,800 after upgrading earnings growth estimates to 16/18 percent for FY20/21.

The stock rallied 51 percent in the last six months on the back of gaining market share from Jet Airways and stable crude oil price. At 0920 hours IST, it was quoting at Rs 1,677.25, up Rs 14.05, or 0.84 percent on the BSE.

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