DNA (Daily News & Analysis) Mumbai Edition : 2019-02-11

FRONT PAGE : 19 : 19


11 Monday February 2019 MUMBAI www.dnaindia.com NIFTY FTSE 100 NIKKEI 225 SENSEX Week change 10943.60 49.95 7071.18 102.33 20333.17 455.22 36546.48 77.05 S S T S GOLD SILVER BRENT CRUDE 10 gram 33060.00 190.00 kg 39930.00 525.00 $/barrel 61.86 0.95 T T S 71.31 0.05 EURO 80.75 0.88 BRITISH POUND 92.31 0.89 UAE DIRHAM 19.38 0.08 US $ T T T S NEWS IN NUMBERS Rs 89,257.57 crore – Deposits in Jan Dhan accounts as on January 30, according to data from the finance ministry WEEK AHEAD DOMESTIC Earnings: In the ongoing earnings season, Amara Raja Batteries, Eicher Motors, Motherson Sumi, Sun Pharma, Hindalco, Coal India, Bharat Forge, Voltas, Ashok Leyland, Page Industries, Mcdowell Holdings, Glenmark Pharma expected to post results GO WITH THE FLOW? Balanced funds net inflows (Rs Cr) Macro Data: * April 2018 to January 2019 Manufacturing Output and Industrial Production for December and Consumer Price Index (CPI) inflation for January will be out on Tuesday while the Wholesale Price Index (WPI) data to be released on Thursday. January month Trade Balance data will be released on Friday FII Data: Investors will keep an eye on the foreign inflows the coming week to take a further cue. Last week, foreign institutional investors bought equities worth Rs 2,570 crore and the DIIS were also buyers FM faces tightrope walk on fisc targets Rupee: The Street will watch out for rupee’s movement, going forward. The currency has been trading around 71 per US dollar levels „ OVERSEAS Likely to miss GST, personal tax mop-up estimates „ Investors will be monitoring global developments, especially around the US and North Korea „ Anjul Tomar `10.45 L cr [email protected] Japan December quarter GDP and China December Trade balance data are expected on Wednesday „ While the government is optimistic about meeting the tax collection as well as fiscal deficit targets for the current year, experts say it may not be easy. The Budget has fixed the fiscal deficit target at 3.4% of the Gross Domestic Product (GDP), while the gross tax revenue is estimated to grow at 17.15%, as per the revised estimates for 2018-19. Though the Goods & Services Tax (GST) target has been revised downwards by Rs 1 lakh crore, the government may still miss the indirect tax collection target of Rs 10.45 lakh crore for the year, including customs and other duties, given the collection trends so far, experts said. Similarly, an upward revision of Rs 50,000 crore in direct tax collection estimated at Rs 12 lakh crore, too, looks ambitious to many. D K Srivastava, chief policy advisor at EY, said, “There is a concern that the government is so optimistic. This is because they have provided for still high GST revenues despite reducing it by Rs 1 lakh crore in the revised estimates.” As far as direct tax targets are concerned, “to achieve the projected target of corporation tax collection, it will have to grow at 24% in the remaining months of the year. In the past four years, however, the corporation tax has grown at a mere 10% in the last three months of a fiscal,” Srivastava said, adding that the corporation tax revenues have grown at 14% till December so far. On the personal income New Delhi: THE MATH GST target for this fiscal, likely to be missed The euro region flash GDP will be released on Thursday „ 24% 50,000 cr ` Corporation taxes have to grow for the rest of the year to meet the target Increase in direct tax collection looks ambitious MARKETS 55% `35,100 cr Increase needed in remaining fiscal to meet personal income tax target COMPANIES Raised from disinvestment in the current year, target is Rs 80,000 crore Tatra eyes wagon leasing business in India P3 START-UP INC Grooming vrooming P6 ST SMART 25,000-30,000 cr The silver lining ` RBI dividend was around in last two years LINE DISCONNECTED All the cost-cutting measures put together will result in annual savings of Rs 2,500 cr

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