#weeklyNewspaper GDP growth falls to 4.5% in Q2 and November GST collection up by 6%. YES Bank to raise $2 Billion through preferential allotment of shares. For more updates click the link: http://bit.ly/FDNewspaper #sharemarket #mutualfunds #trading #stocks #yesbank #FinDoc

1. YEAR -1 | Vol 1 | Issue 14 | Ludhiana | Price Rs.2/- Wednesday 04 December, 2019
Brief Headlines:
YesBanktoraise$2billionthroughpreferentialallotmentofshares
Ujjivan Small Finance Bank opens for subscription on December 2,
withapricebandatRs36-37pershare.
Suven Life Sciences announces top-line results of SUVN-502
(Masupirdine) Phase 2A study in Patients with Moderate
Alzheimer''sDisease(AD)
Sun Pharma - US District Court allows some & rejects some of its
appealsagainstplaintiffs’claims
5paisa Capital: Subsidiary company 5Paisa P2P received certificate
ofregistrationtoactasNBFC-P2PfromReserveBankofIndia.
Coal India - November production down 3.9% at 50.02 MT and
offtakedown7.6%at47.37MT,YoY
MMTCsigns2ndonionimportorder,tobuy11,000tnfromTurkey
Biocon: Biocon and its partner Mylan on December 2 announced
thelaunchofOgivri-abiosimilartoHerceptin-intheUSA.
IFCIreceivedbidsforsaleofitsentirestakeinNSE
Bank: RBL Bank launched the qualified institutional placement
issue for subscription on December 2. The Capital Raising
Committee of the bank approved the floor price for the QIP being
Rs 352.57 per equity share, at a 5.5 percent discount to Monday's
closingprice.
CromptonConsumerpromoterlookstosell7.2-8.8%viablockdeal
Reliance Capital - Vistra ITCL (India) Ltd., trustees for the
debentures issued by the company, has filed Original Application,
beforetheDebtsRecoveryTribunal–Mumbai,towardsrecoveryof
duestothedebentureholders
Maruti Suzuki total sales down 1.9% at 1,50,630 lakh units against
1,53,539units,YoY
M&Mtotalautosalesdown9%at41,235unitsversus45,101units,
YoY
M&M total tractors sales sown 19% at 21,032 units versus 25,949
units,YoY
Tata Motors total domestic sales down 25% at 38,057 units versus
50,470units,YoY
Eicher Motors total VECV sales down 23.9% at 3,594 units versus
4,720units,YoY
India’s goods and services tax
collections rose 6% to Rs 1.03 lakh
crore in November, reversing two
months of decline, with experts
attributing the increase to festive
shoppingandbettercompliance.
GSTcollectionswereRs97,637
crore in November last year and
Rs 95,380 crore in October this
year. The increase in collections
was a sign of economic revival,
recovery in demand and
measures to ease compliance,
governmentofficialstoldET.
“After two months of negative
growth, GST revenues witnessed
an impressive recovery . During
the month, the GST collection on
domestic transactions witnessed
a growth of 12%, highest during
the year,” the government said in
astatement.
Tax revenue growth has been
muted in the current financial
year because of slowing growth.
Net tax revenue climbed 3.4% in
April-October from a year ago.
Higher collections will provide
some fiscal relief to the
government.
India’s economic growth
slowed to a six-year low of 4.5% in
July-September, while nominal
GDP growth in the quarter hit a
decade low of 6.1%, which would
impacttaxes.
Collections in November
comprised of Rs 19,592 crore of
central GST, Rs 27,144 crore of
state GST, Rs 49,028 crore
integrated GST (including Rs
20,948 crore collected on
imports) and cess of Rs 7,727
crore. The total number of GSTR
3B returns filed for October up to
November30was77.83lakh.
Throughout, our
previous journey we
were discussing the
e n t r y p o i n t ,
psychology behind
the entry point and
the stop loss which
means when to exit
in case the market is
not in your favour or to put in
other words the direction of
the market is not as per your
forecast. But we did not
discuss what is the exit point in
case the market is in the same
direction which you could
forecast. No worries, we
would discuss the same in this
article. The exit points which
technically are known as
targets can be identified
studying S & R (support and
resistance).
Simply, Support point is a
place where you would find
more buyers eventually they
would not let the sellers take
control of the market
and allow the price to
go below that point
and resistance is a
point where you find
more sellers. Sellers
would not allow bulls
to take control
beyond that point
and allow the prices to rise
abovethatpoint.
To understand support and
resistance one needs to plot
the market data in a chart, 6
months to 12 months charts
are good for taking positional
calls and 3 months to 6 months
charts are good to understand
the levels for short term
trading to intra day trading. If
these points are studied in
isolation they may be
considered entry points as
well.
• Technical analysts use
support and resistance levels
to identify price points on a
chart where the probabilities
favor a pause, or reversal, of
a prevailing trend.
• Support occurs where a
downtrend is expected to
pause,due to a concentration
of demand. • Resistance
occurs where an uptrend is
e x p e c t e d t o p a u s e
temporarily, due to a
concentration of supply.
• Market psychology plays
a major role as traders and
investors remember the past
and react to changing
conditions to anticipate
future market movement.
Now if you recall few bull
candle patterns we studied for
example bullish engulfing
pattern, we studied that
aggressive traders will take
entry near the close of the
candle and conservative
traders would take a position
after the confirmation candle
next day. Stop loss would be
low of the previous candle. In
this example the trader has
taken a long position after
technically analysing the
market, now the most
important point is when to get
out of this trade when you are
in profits. This can easily be
done by analysing the
resistancelevels.
So, with the help of
resistance points, he may plan
toexithistrade.
There are different ways in
which we can calculate support
andresistancelevelsnamely
Trendlines
Movingaverages
Roundnumbers
Fibonacci.
We would discuss them in
detailincomingarticles.
by Nitin Shahi
Demystifying Technical Analysis
Support and resistance
November GST
collections up 6%

2. Wednesday 04 December, 2019
STOCK REPORT
RBI expected to cut rates on December 5
The central bank is likely to cut interest
rates for the sixth straight time on 5
December despite a surprise spike in
inflation, as the Reserve Bank of India (RBI)
seeks to reverse a protracted growth
slowdowninAsia’sthird-largesteconomy.
Eight out of 10 economists and treasury
heads surveyed by Mint expect RBI’s
monetary policy committee (MPC) to cut the
repo rate, at which RBI lends to banks, by 25
basis points (bps) to 4.9%, while maintaining
an accommodative stance. Two expect the
RBItocutratesby15bps.
Economic growth has slowed to 4.5% in
the September quarter, its weakest pace
since 2013, despite a cumulative 135bps cut
in policy rates this year. Indian banks, saddled
with record bad loans, have failed to transmit
theratecutstoborrowers.
Output of capital goods, which indicates
investment activity in manufacturing,
contracted 20.7% in September against a
6.9% expansion in the year-ago period. After
the October MPC meeting, governor
Shaktikanta Das said the central bank will
maintainitsaccommodativestanceaslongas
it is necessary to revive growth, even as it
ensuresthatinflationremainswithintarget.
“Completely in line with our expectation,
GDP in Q2 printed a 26 quarter low with most
sectors showing a decline. Core GVA (gross
value added) excluding agriculture and
government services has printed a low of
3.4%.
Thisfurtheremphaticallyunderscoresthe
need of policy focus shifting to reviving
growth.WecontinuetoexpectRBItoexecute
another rate cut in December of 25bps,"
Shubhada Rao, chief economist at Yes Bank,
saidinaresearchnote.
HDFC Bank, the most valuable
Indian lender, sees signs of
revival in rural areas
HDFC Bank Ltd., India’s most
valuable lender by market
capitalization, sees tentative signs of
a revival in rural areas at a time when
thewidereconomyissputtering.
“The recent loan outreach
programs underway in rural areas
have given us the sense that the
consumption in rural and semi-urban
areas is turning more positive,” HDFC
Bank Executive Director Kaizad
Bharucha said in an interview last
week. The rural and semi-urban
sector,whichaccountsforatleasthalf
of India’s output, got 48% of the
bank’s total loans as of end-
September.
Prime Minister Narendra Modi’s
government has unveiled several
steps to boost the economy, which is
growing at its weakest pace in more
than six years, including a surprise
$20 billion corporate tax cut. The
Reserve Bank of India is expected to
cut interest rates again this week,
after Friday’s report that gross
domestic product growth slowed to
4.5%intheSeptemberquarter.
For HDFC Bank, the weaker
economy had led to a slowdown in
loan growth, which eased to 15% in
the September quarter from 23% a
year earlier. But it remained healthy
compared with the overall banking
system which saw credit growth
slowing to a two-year low just above
8%.
“As a bank we are well positioned
to offset a slowdown in either the
consumption or investment side as
we are present across the spectrum,”
Bharucha said. “The demand for
credit is not going away. It may just be
subdued
He’s also cautiously optimistic
about the outlook for corporate
investment, based on the bank’s
soundingswithIndianexecutives.
Muted loan growth has hardly
dented the upward march in HDFC
Bank’s shares, which are about 20%
higher so far this year. Now valued at
about$96billion,thecompanytrades
around 26 times projected 12 month
earnings. That’s almost three times
more expensive than the Bloomberg
World Banks Index and is the biggest
valuationpremiumonrecord.
Meanwhile, non-bank lenders
from Dewan Housing Finance Corp
Ltd. to Reliance Capital Ltd. have been
reeling under a 17-month credit crisis
after Infrastructure Leasing &
FinancialServicesLtd.defaultedonits
debt last year. In a further blow to
confidence, the Securities and
Exchange Board of India placed curbs
on operations of Karvy Stock Broking
Ltd. after finding evidence it misused
clientfunds.
Finance minister Nirmala Sitharaman said
therecentcorporatetaxratecutwasaimedat
attracting investments and creating jobs
while clarifying that the reduction in
minimum alternate tax was applicable from
thebeginningofthecurrentfinancialyear.
“We think we will attract investment by
reducing tax rate,” she told Parliament, while
adding that several countries had done the
same. She was speaking during the debate on
the Taxation Laws (Amendment) Bill that was
passed by the Lok Sabha, replacing a
September 20 ordinance. The MAT
clarification would have come as a relief as
the text of the bill had said the relief would be
applicable from the next financial year rather
than the current one as mentioned in the
ordinance.
Tax rate cut aimed at attracting
investments: Finance Minister
Derivative Analysis
Owner & Publisher FINDOC CAPITAL MART PRIVATE LIMITED, Printed by Rakesh Kumar Prop. of Bhagotra Printers , 111 Sukhdev Market, Back Side Kailash Cinema,
Nr. Petrol Pump, Civil Lines, Ludhiana and Published by 5th Floor, Kartar Bhawan, Nr. PAU Gate No.1, Ferozepur Road, Ludhiana. By the Nitin Shahi, Editor of Findoc Prime.
Name
Current
Price
Market
Capitalizatio
Return on capital
employed
Price to
Earning
Sales
growth
K E C Intl. 278.3 7154.77 28.63 13.28 10.67
Kajaria Ceramics 522.05 8298 23.87 29.96 6.98
Kalpataru Power 449.55 6955.23 22.18 15.52 25.44
Metropolis Healt 1374.65 6897.81 43.98 50.47 17.62
Minda Inds. 349.55 9165.79 21.57 37.29 7.01
Natl. Aluminium 43.45 8106.11 25.99 12.52 -11.84
NBCC 37.35 6723 31.99 38.24 -0.58
NIIT Tech. 1462.1 9126.12 29.83 21.84 20.37
Persistent Sys 681.2 5243.53 20.09 15.21 6.18
Proc. Gam. Heal. 4331.95 7191.04 78.16 8.6 8.63
Rites 280.25 7006.25 31.8 11.66 36.73
Sheela Foam 1310 6390.55 27.7 36.67 0.85
Solar Inds. 1060.25 9594.21 26.5 32.46 12.68
Sterlite Tech. 125.2 5056.58 31.25 8.27 62.44
Sundram Fasten. 467.8 9828.48 27.45 24.87 18.24
Symphony 1131.45 7915.28 21.62 56.14 35.82
Timken India 884.3 6651.59 21.67 36.16 14.85
TTK Prestige 5684.6 7879.65 26.8 36.25 8.59
Tube Investments 488.95 9182.9 20.73 32.36 -0.38
V I P Inds. 425.45 6012.35 37.81 41.22 13.66
V-Guard Inds. 232.2 9930.7 25.98 48.99 9.58
VST Inds. 4223.35 6520.85 56.27 25.03 11.24
Name
Current
Price
Market
Capitalization
Return on capital
employed
Price to
Earning
Sales
growth
Aegis Logistics 195.05 6625.2 20.92 48.56 35.22
Ajanta Pharma 989.9 8637.99 23.85 22.29 3.8
Akzo Nobel 1921.2 8749.21 24.15 36.93 0.02
Astrazeneca Phar 2811.6 7029 26.51 93.91 35.95
Avanti Feeds 495.3 6748.25 36.49 19.11 15.45
Bharat Dynamics 332.15 6087.69 31.6 12.57 -23.32
Blue Star 797.35 7679.59 24.94 37.99 14.56
Bombay Burmah 1083.65 7560.83 40.47 8.36 11.58
Carborundum Uni. 330.7 6259.5 21.45 26.33 7.65
Cochin Shipyard 400.1 5262.93 22.24 9.48 20.08
DCMShriram 336.4 5345.23 28.56 6.23 7.6
Engineers India 104 6571.88 24.61 17.48 35.71
ERIS Lifescience 445.45 6125.82 26.43 19.69 9.64
Escorts 662.5 8120.93 24.26 18.14 23.77
Fine Organic 1793.3 5498.25 43.16 35.51 23.9
Finolex Cables 365 5582.29 23.16 15.27 4.67
Finolex Inds. 586 7272.26 20.74 21.06 11.68
Galaxy Surfact. 1460.05 5176.57 30.28 29.77 1.94
Godrej Agrovet 485.55 9324.59 20.55 36.09 15.74
Graphite India 299.75 5857.12 118.56 3.28 -18.94
Grindwell Norton 583 6454.98 23.47 36.17 3.68
High Open Increase
Low Interest (%)
7.95
6.95
63.3
60.15
467.3
454.5
39.45
38.3
52.2
51.2
13.3
12.15
105.5
104.05
379.6
367.55
Symbol
1,26,00,000 2.28%
YESBANK
60.5 -2 -3.20% 23,42,53,800
Chg
(%)
Last
Price
Increase in
OI
IDEA
7.1 -0.75 -9.55% 56,50,68,000
18,93,573 4.96%
SAIL
38.5 -1.15 -2.90% 7,41,84,000
21,03,200 0.91%
BHARTIARTL
457.5 -3.15 -0.68% 4,00,64,895
-6.49% 8,93,62,000
15,72,000 2.16%
BHEL
51.3 -0.2 -0.39% 4,28,40,000
10,24,800 6.41%
Chg
(Rs)
11,02,500 1.66%
RBLBANK
369.3 -4.7 -1.26% 1,70,23,200
12,18,000 1.38%
BANKBARODA
104.3 -0.75 -0.71% 6,74,95,500
14,10,000 3.40%
DISHTV
12.25 -0.85
High Open Increase
Low Interest (%)
298
288
343.5
340.7
107.75
105.2
283.5
279.25
159.4
156.8
1,635.55
1,600.00
549.8
533
4,013.95
3,915.15
Symbol
Last
Price
Increase
in OI
BIOCON
289 3.95 1.39%
8,89,32,000 15,00,000 1.72%
EQUITAS
106.25 1.05 1.00%
1,17,73,800 20,28,600 20.82%
SBIN
342.3 1.75 0.51%
1.95%
1,91,01,000 4,74,000 2.54%
MANAPPURAM
157.85 0.4 0.25%
1,29,08,000 6,44,000 5.25%
PETRONET
280.25 1.4 0.50%
80,28,750 2,12,250 2.72%
25,29,800 2,31,000 10.05%
BAJFINANCE
3,996.65 34.5 0.87%
22,26,000 2,35,500 11.83%
JUSTDIAL
546.95 7.15 1.32%
1,66,92,000 2,76,000 1.68%
JUBLFOOD
1,627.35 31.15
Chg
(Rs)
Chg
(%)

3. Wednesday 04 December, 2019
Shiv Sena Chief Uddhav Thackeray was
sworn in as Maharashtra Chief Minister at a
grand ceremony in Mumbai’s Shivaji Park
onThursday.
Along with Uddhav, six ministers —
Eknath Shinde and Subhash Desai from the
Shiv Sena; Jayant Patil and Chhagan Bhujbal
from the NCP and Balasaheb Thorat and
NitinRautfromtheCongress—tookoath.
Maharashtra Governor Bhagat Singh
Koshyari administered the oath to
Thackerayandhisministers.
Many in the massive crowd at Shivaji
Park were in tears when the saffron-clad
Uddhav bowed down before them after
taking the oath. Shivaji Park has been at the
centre of Shiv Sena’s politics for over five
decadesnow.
It was here in 1966 that Uddhav’s father
Bal Thackeray addressed his first rally; it
was in the very same place that he was
cremated,in2012.
Senior Congress leaders, including
Madhya Pradesh Chief Minister Kamal
Nath, Ahmed Patel and Kapil Sibal,
attended the ceremony. MK Stalin, TR
Baalu, Shankarsinh Vaghela and Uddhav’s
estranged cousin Raj Thackeray marked
their presence. NCP President Sharad
Pawar, who is the architect of the new
alliance, was welcomed with applause
whenhecameonthedais.
Gross Domestic Product growth falls to 4.5% in Q2 of 2019-20
The Gross Domestic Product
continued its downward spiral for the
seventhconsecutivequarter,fallingto4.5
per cent in the second quarter (July-
September) of the year 2019-20. This is a
fall of 0.5 per cent points compared to the
last quarter. Compared to the second
quarter of the year 2018-19, it is a fall of
2.6 per cent points. In the second quarter
of the previous year, the GDP growth
stoodat7.1percent.
The GDP growth seen in the last
quarter was slowest in more than six
years. The previous low was recorded at
4.3 per cent in the final quarter (January-
March)of2012-13.
India's GDP growth for the previous
quarterwasthelowestinoversixyears
The GDP numbers were released
along with the data for the eight core
infrastructure industries, which showed
output delcining by 5.8 per cent in
October. As many as six of eight core
industries saw a contraction in output in
October. Coal was the worst hit, declining
steeplyby17.6percent.
The GDP numbers for the July-
September quarter today come after six
consecutive quarters of falling GDP
growthrate.
The GDP growth rate for the first
quarter of 2019-20 settled at 5 per cent, a
six-year low. The slowdown in economic
growth has taken away from India the tag
of world's fastest growing major
economy to China. India's growth rates in
the Q4 2018-19 and Q1 2019-20 were
slowerthanthatofChina,whichisamuch
biggereconomy.
India's economic growth has taken a
hit due to a number of factors - including
slowdown in private consumption,
investment and export - but the key
indicator is lack of credit (money to
produce goods) growth and demand in
themarket.
The Narendra Modi government has
taken a slew of reforms in recent months
to boost credit in the market - focusing on
offering incentives to banks to increase
lending-buttolittleavail.
These measures include slashing of
the lending rate (the rate that is linked to
banks' interest rates) by the Reserve Bank
of India five times this year, withdrawal of
'super-richsurcharge'imposedonforeign
investors, exemption of start-ups from
'angel tax', an infusion of Rs 70,000 crore
inpublicsectorbanksandasignificantcut
inthecorporatetaxrate.
However,analystsandexpertswereof
the view that the government did not do
enough to address the issue of slowdown
in demand. They argued that declining
demand is among the prime reasons for
economicslowdown.
The concern expressed by economists
is in sync with what Union Finance
Minister Nirmala Sitharaman said earlier
this month. She had ruled out revival of
economy any time soon while asserting
that the government was doing
everythingpossible.
"It is too presumptive of me to say it
[economic slowdown] has bottomed
out," Sitharaman had said speaking to
reporters earlier this month, fueling
speculation that India's economy is yet to
seetheworstoftheongoingdownturn.
Govt makes hallmark for Gold jewellery
and artefacts mandatory from 2021 to
ensure purity of precious metal
Hallmarking for Gold jewellery and
artefacts will be mandatory from 15th
January 2021. Briefing reporters in
New Delhi, Consumer Affairs Minister
Ram Vilas Paswan said, notification in
this regard will be issued by 15 of
January next year, giving a period of
one year for implementation. He said,
JewellersandRetailerswillgetoneyear
time for clearing their old or existing
stock. Mr Paswan said, more than 26
thousand jewellers have taken the
Bureau of Indian Standards, BIS
(Hallmarking)registrationtillnow.
Our correspondent reports that if
anyone is found violating the set rules
after 15th January 2021, they may
attract a fine of minimum one lakh
rupees or five times the value of the
itemsorajailtermofoneyear.
Uddhav Thackeray sworn in
Maharashtra CM
FPIs remain net buyers for third
month; invest Rs 22,872 cr in Nov
Foreign investors remained net buyers
in the Indian capital market for the third
straight month in November this year,
putting in 22,872 crore rupees on a net
basis.
Analysts said expectations of a trade
deal between the US and China, and more
relief measures, as well as disinvestment
drive by the government among other
factors, helped keep FPIs stuck on the
capitalmarkets.
A net sum of 25,230 crore rupees was
flowed into equities by FPIs in November.
However, they pulled out around 2,358
crore rupees from the debt segment,
translating into a total investment around
22,872crorerupeesbyFPIsinNovember.
FPIs had invested around 16,038 crore
rupees in October and around 6,558 crore
rupeesinSeptemberthisyear.
At ₹3,600 crore, its offer is twice
asmuchasAirtel’s
Reliance Jio Infocomm (RJio) has
emerged as the highest bidder for
Reliance Communications’ (RCom)
tower and fibre assets, with the
company controlled by Asia’s richest
person Mukesh Ambani placing a
₹3,600-crore bid. Bharti Airtel’s bid
for the same assets, housed under
RCom subsidiary Reliance Infratel, is
at₹1,800crore,accordingtosources.
RJio, which did not bid for the
entire assets put out for auction, has
committed to making the payments
within 60 days adding that the
evaluation process by SBI Caps is
currently on. Bids submitted by other
bidderscouldnotbeascertained.
Bharti Airtel has made a
conditional bid for RJio’s assets,
which excludes all properties and
datacentres,sourcessaid.
The process of finalising the bids
will take a minimum of one to two
weeks as the Committee of Creditors
(CoC) will have to meet every bidder
and negotiate a final price. Following
the negotiations, the CoC will have to
finalise a bidder based on voting by
the members, sources added. When
contacted, spokespersons of RJio and
Airteldeclinedtocomment.
According to media reports on
Thursday, Bharti Airtel has submitted
conditional bids of about ₹9,500
crore for RCom assets, including
spectrum, mobile towers and optical
fibre.
Lastdateforresolution
Thelastdateforcompletionofthe
resolution process is January 10,
2020, following an extension
received from National Company Law
Tribunal (NCLT) earlier. However, the
process is likely to overshoot this
deadline,thesourcesadded.
BeleagueredtelecommajorRCom
had received a total of 11 bids from
four companies for assets housed
under various subsidiaries. Apart
from RJio and Sunil-Mittal backed
Bharti Airtel, PE firm Varde Partners
and UV Asset Reconstruction
Company (UVARCL) were the others
inthefray.
Rjio emerges top bidder for
RCom tower, fibre assets
Scheme Name AuM (Cr) 1Y 2Y 3Y 5Y 10Y
Axis Small Cap Fund - GrowthSmall Cap Fund 1,199.83 20% 6% 14% 11% -
HDFC Small Cap Fund - GrowthSmall Cap Fund 9,137.06 -8% -6% 10% 9% 12%
Kotak Small Cap Fund - GrowthSmall Cap Fund 1,300.23 6% -5% 7% 8% 13%
DSP Small Cap Fund - Regular Plan - GrowthSmall Cap Fund 4,905.06 -2% -12% 1% 8% 17%
Franklin India Smaller Companies Fund - GrowthSmall Cap Fund 7,030.82 -4% -10% 3% 7% 15%
Mutual Fund Section
About a billion mobile phone
subscribers will pay up to 40% or so more
to make calls and use data from this
month, with private operators Reliance
Jio Infocomm, Bharti Airtel and Vodafone
Idea increasing prices for the first time
since2016toshoreupfinances.
While loss-making Vodafone Idea and
Airtel face a Januaryend deadline to pay
up thousands of crores in additional
statutory dues, Jio on Sunday said it took
the step “to help sustain” the telecom
industry, which is burdened with over Rs
7 lakh crore of debt and the world’s
lowestaveragerevenueperuser(ARPU).
Analysts said the increases would be
the biggest in India’s telecom industry,
with pricing of voice services back for
most plans. The government nudged the
three telcos to bite the bullet after a
prolonged price war since 2016 damaged
industry finances and heavily hurt
revenues.
Vodafone Idea, which had over 311
million users in September, and Bharti
Airtel (about 280 million subscribers), as
per company data, also scaled down data
offers or tweaked prices to force
customers to spend more to continue
getting the same benefits, the two
operators said in separate statements on
Sunday.
Both increased rates only for prepaid
subscribers, who account for over 90% of
their user base, starting December 3.
Price increases by Jio, which caters to 355
million customers, will be effective from
December6.
Low tariff regime over, telcos
up rates by 40-50 per cent

4. Wednesday 04 December, 2019
Should NRIs File Income Tax Return in India
The successful leader is one
who has knowledge and is a
leader by virtue of knowledge
and should lead as an example.
He should also value relationship
no matter how successful he
becomes.
A man died leaving behind his
wife and his son. After his death,
family had to face financial crisis.
His wife sent his son to sell a
necklace which was given to her
by the man when he was alive.
She asked to go to one of the
goldsmithswhowasfriendofher
husband. The son went to the
goldsmith who was friend of his
father and in that sense his
uncle, to sell the necklace, his
uncle told that the markets are
down and he should not sell the
necklace, but to help the family,
he gave some money to boy and
also told him to come to his shop
tolearnthebusiness.
In months the boy learned to
examine jewels and pearls. He
slowly became an expert valuer.
His uncle told him that the
markets are now booming and
now he can get the necklace
valued.
He went to his mother and
asked for the necklace and he
wassurprisedtoknowthatitwas
an artificial jewellery. Surprised,
he went back to his uncle and
told that it was artificial and you
didnottellme.
His uncle told that they were
in need of money and if I had told
you that time, you must have
thought bad of him. To retain
relationship I gave you some
money and taught you the
business now you are renowned
valuer and can examine jewels
and pearls himself. Now you are
selfdependent.
The uncle was praised and
respected like a mentor by the
family. Thus this short story gives
two lessons that Knowledge is
powerRespectrelationship.
By Nitin Shahi
In the last 3 decades, Indian economy
has integrated itself with the global
economy which has led to increased
immigration from India and increase in
Indian diaspora across the world. These
Indians who have now acquired NRI
status often face challenges in complying
with Income Tax Laws in India. This is due
to lack of awareness and misconceptions
about what constitute Income in India.
NRIs who havenot been filingIncome Tax
Return in India can be broadly
categorizedinthreecategories:
o Having Income in India above the
taxablelimit
oHavingassetsbutnoIncomeinIndia
o Having income below the threshold
limitofwhatconstitutestaxableincome
Indian government over the past few
years have been gradually pushing for
linkage of all assets (including properties
and its transactions) and sale/purchase
of all financial assets with PAN card and
Aadhar Card. NRIs falling in the last two
categories as mentioned
above will face challenges at
the time of repatriation or
claiming back TDS deducted at
thetimeofsaleofproperty.
Majority of NRIs have either
not filed Income Tax Returns in
India or they have been filing
I n c o m e Ta x R e t u r n s
erroneously as Resident Indians. Then
there are NRIs who are non-compliant as
perIncomeTaxLawsinIndiaisconcerned
as inspite of having income in India. This
oversight or carelessness can be
attributed to some of the commonly held
misconceptionsbythesepeople:
1. They don’t need to file Income Tax
Returns as they do not earn a salary or
ownabusinessinIndia.
2. Banks and other financial
institutions have already deducted TDS,
so there is no need to pay tax in India,
hence filing of tax returns in India is not
necessary.
3. Based on their residency
in a tax-free country and their
income in India is below the
threshold limit, therefore,
they need not file an income
taxreturninIndia.
4 . T h e y o w n a fe w
propertiesinIndiaandhaveno
other source of income in
India, so why should they file an Income-
taxreturninIndia?
5. Rental income is their only source of
income and it is belowthe threshold limit
therefore they are not required to file a
taxreturn.
NRIs must file Income Tax Return in
Indiaif:
1. NRIs have an income above the
thresholdlimitofINR2,50,000lakhs
2. TDS has been deducted by banks or
anyfinancialinstitutions
3. TDS has been deducted at the time
ofsaleofpropertyinIndia
4. NRIs have Long Term Capital Gains
Tax on account of sellingof any assets like
Mutual Funds, Equity, Private Equity or
propertyinIndia
5. If they have an Indian credit card in
their possession and they made few
transactions
6. If there have been cash deposits in
theiraccount
7. If NRIs want to claim the benefits of
DTAA
8. If they own more than two
propertiesinIndia
Many a times, by not Filing Income Tax
Returns NRIs end up losing the benefit of
getting a refund for TDS, especially in
case of sale of property (as the TDS is
20%+surcharge + cess) which had been
deductedatahigherrate.
In conclusion, NRIs must file Income
Tax Returns in India even if their income
is below the taxable income to avoid
future assessment notices and peace of
mind.
by Shammi Khanna
The Wisdom Tooth
INDEX OPEN CLOSE NET CHANGE %age
NIFTY 12110.20 12048.20 -62.00 -0.51%
BANK NIFTY 31692.85 31871.45 178.60 0.56%
NIFTY IT 15174.65 14852.00 -322.65 -2.13%
NIFTY AUTO 8197.35 8012.75 -184.60 -2.25%
NIFTY PHARMA 8242.80 8128.95 -113.85 -1.38%
NIFTY FMCG 31137.80 30889.50 -248.30 -0.80%
NIFTY METAL 2614.60 2632.65 18.05 0.69%
NIFTY REALITY 281.75 281.05 -0.70 -0.25%
INDEX OPEN CLOSE NET CHANGE %age
DOW JONES 28,080.75 27,783.04 -297.71 -1.06%
S&P 500 3,134.85 3,113.87 -20.98 -0.67%
NASDAQ 8,635.40 8,567.99 -67.41 -0.78%
CAC 5,927.41 5,786.74 -140.67 -2.37%
DAX 13,256.40 12,964.68 -291.72 -2.20%
HANG SENG 27,183.90 26,361.74 -822.16 -3.02%
OPEN CLOSE NET CHANGE %age
USDINR 71.6840 71.6350 -0.0490 -0.0684%
EURINR 78.9640 79.3430 0.3790 0.4800%
GBPINR 92.4780 92.6990 0.2210 0.2390%
JPYINR 0.6578 0.6571 -0.0007 -0.1064%
OPEN CLOSE NET CHANGE %age
COPPER 433.70 432.10 -1.60 -1.22%
NICKEL 1064.90 1009.90 -55.00 -5.16%
ZINC 186.00 182.20 -3.80 -2.04%
ALUMINIUM 131.00 134.60 3.60 2.75%
CRUDE 4151.00 4008.00 -143.00 -3.44%
LEAD 152.85 152.35 -0.50 -0.33%
GOLD 37696.00 37952.00 256.00 0.68%
SILVER 44110.00 44344.00 234.00 0.53%
PRECIOUS METALS
Weekly Capsule 26/11/2019-02/12/2019
INDEX PERFORMANCE
GLOBAL INDICES
CURRENCIES
COMMODITIES
Date EQUITY DEBT
28-Nov-19 -122.65 2,620.08
27-Nov-19 434.01 4,054.42
26-Nov-19 -3,673.45 990.16
Value in Crores
Date EQUITY DEBT
29-Nov-19 -751.15 190.97
28-Nov-19 1,627.69 -1,864.78
27-Nov-19 -1,053.51 506.59
26-Nov-19 4,515.33 -1,219.03
Value in Crores
-5000
-4000
-3000
-2000
-1000
0
1000
2000
3000
4000
5000
26-Nov-19 27-Nov-19 28-Nov-19
EQUITY DEBT
-3000
-2000
-1000
0
1000
2000
3000
4000
5000
EQUITY DEBT
MF SEBI
FII SEBI