On Slack: 2016 In Charts, Being Wrong Than Right, Interest Rate Option, Long Road To Profitability, Taxing Capital Gains and more....
Slack is where the daily action happens. We take pride in our diverse and always helpful member community which includes value investors, fund managers, and professional traders. Here is a brief summary of some of the interesting things discussed there in the last few days. Find all older ones here.
#general: How Much to Expect From Stocks?
Had you invested Rs. 1 lakh a decade ago in the current market leader in the air-cooling segment, Symphony, your money would have grown to a mammoth Rs8.37 crore. But what were your chances of being able to identify this stock and then holding it so long? Negligible. Money Life
#macronomics: India to start taxing capital gains to Singapore investors from April
India will start imposing capital gains tax on investments coming from Singapore from April and fully withdraw exemptions in two years as the two countries agreed to amend a decade-old treaty after New Delhi rolled back similar concessions to Mauritius and Cyprus earlier this year. Reuters
#bonds: RBI introduces Interest Rate Option, effective from New Year
With this banks, bond houses should be able to manage their interest rate risk better than earliar. Traders can also gain from it by speculating on interest rates. Nearly three years ago, Raghuram Rajan, former governor had introduced interest rate futures in the exchange traded platform, which has attained some maturity over a period of time. Economic Times
#general: RBI directs banks to submit reports on collection of demonetised notes by Friday night
Income Tax Department officials said they were probing deposits amounting to at least Rs 4 lakh crore into 1.14 lakh bank accounts. Scroll
#macronomics: Fiscal deficit hits 86% of budget estimate in Apr-Nov
Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 percent of GDP, in 2016-17. First Post
#general: Why demonetisation is greatest blunder by a govt in 69 years of free India
December 30, the deadline Prime Minister Modi set for completing his exercise in demonetisation has come and gone, and there is now no room to doubt that it was the single greatest blunder that any government has made in the 69 years that India has been free. Business Standard
#general: Jet Fuel Price Hiked By 8.6%; Subsidised LPG By Rs. 2 Per Cylinder
ATF or jet fuel price was hiked by Rs. 4,161 per kilolitre (kl), or 8.6 per cent, to Rs. 52,540.63 per kl in Delhi. The hike comes on back of a 3.7 per cent cut in rates last month. NDTV Profit
#general: GST will be implemented in 2017, says Jaitley
FM asserted that digistised economy would be the future of the country.* Business Standard*
#general: It’s A Long Road To Profitability For UrbanClap
One of the leading home services startups in the country, UrbanClap Technologies India Pvt Ltd., saw its losses mount to close to Rs 60 crore in the last financial year, according to the company’s filings with the Registrar of Companies.* Bloomberg Quint*
#general: To Be a Great Investor, Worry More About Being Wrong Than Right
There’s a difference between the truth and what you think ought to be true. Wall Street Journal
#stocks: Petronet signs pact to set up $950 mn LNG project in Bangladesh
Petronet signed a MoU with with Petrobangla to set up a 7.5 million tonnes a year project.* Business Standard*
#general: 2016 in charts
#general: Why aam aadmi is not mad at NaMo despite DeMo
#general: India@2017: A Flailing Promise
@Raghav_Bahl writes why 2017 has kicked off with much for India to be wary of. Bloomberg Quint
#general: Now RBI Cites ‘Threat to Life’ Exemption to Deny RTI Query on Demonetisation Decision
“Query is in the nature of seeking opinion from CPIO which is not defined as information as per Section 2(f) of the RTI Act,” the RBI said in response to an RTI query. The Wire
#general: PM Modi just extended old schemes in New Year announcement
PM finally said yes to one that was legally mandated for past 2 years. Business Standard
https://www.youtube.com/watch?v=CAWlkPkd7aY&feature=youtu.be
#general: Chart: How do investors buy MFs?
#general: There’s A Massive Restaurant Industry Bubble, And It’s About To Burst
#stocks: Revenues of IT companies may contract 3% this year
The New Year is unlikely to be kind to Indian IT firms. After experiencing a horrible 2016, Indian IT companies had hoped for some respite. But cloud, automation and artificial intelligence are expected to cut into how much companies can earn. Economic Times
#stocks: InGovern questions sudden departure of Infosys’ Chief Compliance Officer and his severance package
Proxy advisory and corporate governance advisory firm InGovern Research Services Pvt Ltd (InGovern) has said that the sudden departure of David Kennedy, the General Counsel and Chief Compliance Officer of Infosys Ltd, raises a serious questions about whether his departure was triggered by an event that may have material consequences on the company. Money Life
#general: PSUs seek exemption from paying government huge dividends
The government is insisting that public sector companies pay the maximum possible dividend in this challenging financial year so that additional resources are available for state programmes without breaching the fiscal deficit target.* Economic Times*
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