Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed

Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed
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Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed

Moneycontrol News

Papers 13h33 New IPO: Shalby hospitals have submitted a preliminary document with regulator of capital markets Sebi to launch an initial public offering.

The public offering includes a new sale of shares worth Rs 580 crore, plus an offer of 10 lakh shares by promoter Vikram Shah, according to the draft leaflet on the smoke curtain (DRHP).

The proceeds of the initial public offering (IPO) will be used to pay for certain loans used by the Company, in addition to the purchase of medical equipment for existing facilities, newly created and future hospitals.

In addition, the company plans to spend funds for the purchase of interiors and infrastructure for future hospitals and some will be retained for general corporate purposes.

13:10 Checking benchmark market indices were low during the afternoon session, Sensex and Nifty are trading lower at around half a percent.

The Sensex fell 138.42 points 30.432.55, while the Nifty fell by 35.85 points 9402.40. The width of the market, however, was negative, as only stocks of 461 advanced against a decline of 2,100 shares, while 119 stocks remained unchanged.

Sun Pharma and Cipla were the biggest losers in both indices, while Maruti Suzuki, Mahindra and Mahindra, Eicher Motors and Hindalco have won more.

24:45 VA Tech Wabag Command: The company obtained an order Dangote the company’s oil refinery in Nigeria worth Rs 680 crore.

A business management meeting is scheduled for May 25, 2017 to review, approve and record the Company’s audited financial results (both independent and consolidated) for the year ended March 31, 2017 and consider the dividend recommendation , even if it is only.

24:05 pm Market Check: After taking a breather in the previous hour, the market expanded its losses in the morning session, with the skilful around 9400 points.

The Sensex fell 173.66 points 30,397.31, while the Nifty fell 50.10 points 9388.15. The amplitude of the market was negative as the stocks of 376 advanced against a decrease of 2090 shares, while 111 stocks remained unchanged.

Sun Pharma, Cipla and Aurobindo Pharma lost more, while Suzuki Maruti, Tata Motors and Eicher Motors gained the most.

European stock markets are expected to open Tuesday as investors wake up with the news of another terrorist incident in the UK and digest new political and economic turmoil in the euro zone.

The FTSE 100 is shown in 7 points at 7502, it is expected that the DAX to open lower at 1 point to 12 620 and the CAC 40 is expected to start 2 points at 5,333.

11:35 am buzzing file: Aurobindo Pharma has lost more than 6% intraday on Tuesday after investors have reacted to insider trading developments with the SEBI.

The market regulator, Stock Exchange and Securities Board of India (SEBI) Monday filed a case concerning the breach of insider trading rules against Sumanth Kumar Reddy Mettu, developer Aurobindo Pharma. The case was considered as the pharmaceutical company had already fined and also warned against the challenges of the future.

11:15 Market Check: After spending more than 0.5 percent in the first hour of trading, the market appeared stable at lower levels, the Nifty around 9,400.

The Sensex fell 149.90 points 30,421.07, while the Nifty fell by 45.20 points 9393.05. The width of the contract was firmly placed in the negative zone as 330 stocks advanced against a decline of 2019 shares, so that 98 units remained unchanged.

Gail and shares pharmatiques Sun Pharma and Aurobindo Pharma lost most of both indexes, while Maruti Suzuki, Wipro and Eicher Motors gained the most.

Midcaps, banks and PSU metals reduced their losses, while the index in the pharmaceutical industry Nifty extended its losses.

10:37 Laps Gains Survey: The Turns Refrigerators and air conditioners manufacturer will release its fourth quarter Tuesday.

Registration of projects: A double-edged sword under RERA

Registration of projects: A double-edged sword under RERA
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Registration of projects: A double-edged sword under RERA

The second chapter of the governed and Development Act (Act), which deals with the inscription of a project and agents can largely determine their future or failure. It could be a double-edged sword.

Rising Issue 1: Wait for Delays

The Law establishes the basic rule that no one can sell / offer / advertise / invite / market / book unless you have saved the project with the Real Estate Regulatory Authority (RERA). What government infrastructure should be in place for that?

1. President of the RERA
2. The contracting members RERA office
3. A selection committee set up to select the previous one
4. A robust online system to accept registration and monitoring updates
5. A court of appeal to establish

By 1 May 2017, only 13 States had notified the rules. With the exception of some states, no state government has set up infrastructure for recording.

The Law requires that, within three months, the proponents must submit an application to the RERA register. But states have one year to establish RERA governments. Until the end, Authority / Regulatory Officer would be designated by RERA. There is little or no clarity on this subject on earth.

Nervous problem 2: The attack of a different type

Projects, which are underway and for which a Certificate of Compliance (CC) has not been issued before May 1, 2017, must register with the RERA. Ongoing projects have 31 July 2017 and registration. What about finished projects, documents submitted to the competent authorities, but the certificate of completion still to be delivered?

CC applications were filed nationwide before May 1, although much work is still waiting on site. At present there is a fashion in this type of projects. Developers have been trying to be completed before CC inspection. This allows the developer to limit their responsibilities.

Almost all projects within the law and we can expect a lengthy and tedious registration process given the amount of data that needs to be checked and confirmed before signing up.

Unless the submission, revision, clarification and confirmation process is simplified in advance for each RERA, we are able to perform a difficult task for both RERA and developers. Important resources must be deployed to undertake and carry out this task diligently.

Nervous problem 3: increase in paperwork

Most of the information required by the RERA, in relation to the structure of the building, already presented by developers in major metropolitan areas, due to current development norms or municipalities. This should be easy to share. However, these are new, some logical, and another confused. Two of these inclusions are:

1. Locate the details of the project with the latitude and longitude of the project endpoints. The way it protects the interests of an allottee remains a mystery.

2. Details about the area and the number of garages provided / sold. I’m not sure of the popularity of garage now one day, but the parking basement is not mentioning.

If you look at the list of about 15 sub-clauses of the Law that highlight the data submitted by the proponent, he realizes that the designs, consultants, deadlines, etc. Changes due to internal and external factors. Agents may not be able to execute; It may be to hire consultants, the area or design department can be improved.

What does the developer do when these changes occur? Inform RERA on a regular basis? Submit details or drop an addition?

Cutting-edge number 4: rising costs

Registration, quarterly documentation, additional time and costs, title insurance, delays in approval, free registration for each phase, etc., would increase construction costs. This should be sent to the consumer.

There’s A Real Life ‘Nerve’ Game Called The Blue Whale Challenge And It Has Allegedly Claimed 130 Lives

There’s A Real Life ‘Nerve’ Game Called The Blue Whale Challenge And It Has Allegedly Claimed 130 LivesThere’s A Real Life ‘Nerve’ Game Called The Blue Whale Challenge And It Has Allegedly Claimed 130 Lives
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Many social media trends or challenges have taken the world to a storm these days, such as the infamous challenge of the model, the challenge of the ice bucket, the challenge of the man to run, the challenge of the whisper and many others.

No matter how many such challenges are noble, funny or absurd, no one could expect the level of madness that the Blue Whale challenge offers.

If you know the movie Nerve, you’ll know the story right now – players will have to complete a series of tasks in order to win and if they decide to bail out at some point in the game, life would be compromised and all their life savings would disappear mysteriously “.

Blue Whale Challenge?

It’s essentially a game, but not in the form of an app or something you can buy in a store; It is usually shared through a link.

It says that once you click on the link, you will be redirected to a page that automatically downloads some files to indicate the start of the game and then you will be assigned an ‘admin’ game and you will be contacted.

The frightening part of this is that the administrator will have mysterious access to your personal information, such as where you live, contact information, family members, etc.

The administrator will monitor you continuously and give you your assignments. Then perform the tasks and take photographic evidence to present to the administrator.

The daily tasks will last 50 days, and among the things you will have to do to cut numbers or images of whales in your body, watch very disturbing videos, stand on a bridge or tall buildings, and finally commit suicide.

We do not know if this is the exact mechanism of the game because there are no credible sources to prove it, but the game would have started after a stranger shared a link on the popular Russian media site Vkontakte or known as VK.

However, there are reports from players who shared their experience on Reddit through the sub / nosleep. We really do not know how true your stories are, but you can judge them for yourself.

Who is responsible for this sinister game?

We know what everyone should think, who would have such a bad mind to create this sick game? Well, this friend has a name, and that is Philipp Budeikin.

He is also known as Philipp Lis, 21, from Russia.

ED arrests chartered accountant linked to money laundering racket

ED arrests chartered accountant linked to money laundering racket
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ED arrests chartered accountant linked to money laundering racket

The management of the execution on Tuesday detained a public accountant in connection with a money laundering racket that represented Rs 8,000 crore. Officials said that the PTI accountant Rajesh Agarwal approved was detained under the provisions of the Money Laundering Prevention Act (MPLA) and was involved in the use of several high profile persons who bleached their funds, giving them Accommodation inputs. They say that he has a connection to the probe by the income tax service in doubtful agreements Rs 1 billion rupees related to the family of RJD chief Lalu Prasad Yadav.
Agarwal would be questioned on these issues once the ED would receive custody.
The accountant would also be transferred funds to Virendra and Surendra Jain, detained in money laundering Rs 8 billion racket rupees. A charge sheet was filed against the Jain brothers for the ED last week. There are reports that Agarwal was the Accountant Misa Bharti, daughter of Lalu.
Bihar team chief BJP, Sushil Kumar Modi, announced on 13 May that Bharti has laundered money by using construction companies to buy a farm in the Delhi Bijwasan area at a cheaper price. Modi also said the Rajya member Sabha had his black money as the target of a suspicious transaction of buying and selling his business units. Modi accused Lalu’s son, Bihar Tejashwi Minister Prasad Yadav and Health Minister, Tej Pratap Yadav, doing corrupt business.
Three days after the allegations, the Department of Income Tax has raided 22 places in the Delhi-NCR region and around Benami worth Rs 1 billion rupees involving Lalu. “People and businessmen linked with the land deal involving Lalu Prasad and his family are sought. There are allegations of Benami offers worth about 1,000 billion pounds and a subsequent tax evasion,” a senior official said.

GST: Govt dictating prices goes against free-market spirit; will anti-profiteering law end up as tax terrorism?

GST: Govt dictating prices goes against free-market spirit; will anti-profiteering law end up as tax terrorism?
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GST: Govt dictating prices goes against free-market spirit; will anti-profiteering law end up as tax terrorism?

In an interview with CNBC TV-18 on Monday, revenue secretary Hasmukh Adhia gave an explicit warning to companies planning to raise product prices before the start of the goods and services tax (GST) July 1 .

Adhia in her non-indirect, open threat called on companies to block rate hikes until the GST will be implemented and suggested that any price increases, even if made for reasons such as higher ticket costs may be investigations.

“My suggestion would be everything for now, until the GST will be implemented, if it can contain price increases.” Unless this is a serious problem of rising costs, we can not absorb it immediately. Hold on for a while, “Adhia said. “But even if it has to absorb the cost and what it should do, it’s further research,” said Adhia CNBC-TV18.

Adhia responded to a question on the fight against speculation in the GST laws stating that it is essential to ensure that the benefits of reducing the effect of taxes after the GST will be passed on to consumers. Adhia’s comments came after noticing that some companies may have to increase their prices so that margin success is not important once the GST will occur and that the benefit of the tax reduction is passed on to the consumer.

The government’s desire to avoid such irrevocable price increases that will finally come to the common man is indeed commendable.

But the problem arises when the government puts market prices instead of facilitating market functioning. Adhia should remember that companies that change the price can be based on increased costs of inputs, competition and seasonal factors, among others. The tax is only one component.

When Adhia says price increases will be a “survey question” that automatically sends businesses into panic and opposes the principles of a free market. The anti-speculation law aims to ensure that the benefits of GST reach people, but it should not become a tool to terrorize the market to artificially control prices to get the desired result of GST startup.

Remember, in an interview with Moneycontrol, Adhia said that inflation will not rise after the application of GST from July 1 and the government took care to ensure that prices do not rise. Inflation will decline by 2 percent by the end of the year.

Reading the two together, the government is determined to see that prices do not rise in the post-GST market to deliver on its promises. Prices should fall if there are genuine reasons, but should not be an element of force on the part of the government behind such a move.

As mentioned above, the tax is only one part that decides the final price of a product. Government dictating prices can be very damaging to the principles of a free market. It’s going to be very destructive for companies to keep prices high on input costs when they fall. In addition, changes in the tax regime allow companies to pass on the benefits of the final price to the consumer. The strength of the market force companies to do so.

The GST is a historical shift in India’s economy, perhaps the most important indirect tax reform India has ever known. It is important that the government ensures that the transition does not become a painful experience for both industries for the common man.

You must have confidence in the market. The actual benefits of GST changes occur only after a delay since the system has to adapt to the change. It is not necessary that the economic benefits of GST change occur immediately. In a note Monday the ICRA rating agency said the GST’s impact on economic growth should be neutral during fiscal year 2018.