The document provides an equity market and economic overview for the week of April 18-22, 2016. Some key points:
- Q4 company results were broadly in line with expectations, and results this season may be similar or slightly higher.
- Banks that received regulatory relief from the RBI on recognizing bad assets saw sharp rallies, but their fundamentals have not changed. Investors should not buy into these banks based on the RBI's leeway.
- Globally, disappointing results from Microsoft and tepid growth from Google do not bode well for markets and may lead to selling pressure. The current market can be viewed as a "buy on decline" scenario.
The markets have been struggling to cross the 8000 level on the Nifty lately. If we consider the previous quarter
individually, the markets have given stellar returns. Most of the indices have given double digit returns, mid cap
index has given around 14% returns. We can observe that the market has given absolute returns in the previous
quarter but is finding it difficult to shape up the further movement.
• Going forward, the market will focus on the upcoming news flows. The non corporate macro data still remains
mixed. The CPI numbers have been reported at 5.4%, higher than expectations, but broadly it remains in the
RBIs comfort zone of 5 - 5.5%. The WPI was reported in the positive territory after 17 Months at 0.7%. The bigger
worry currently is the possible delay in monsoons according to a statement by the IMD. If the delay is only by a
week, there is not much a need for worry for the kharif season. If the monsoon is delayed further, that would
impact the inflation further upwards. This in turn would delay the rate cut expected in the next bi monthly policy
meet.
The markets have been struggling to cross the 8000 level on the Nifty lately. If we consider the previous quarter
individually, the markets have given stellar returns. Most of the indices have given double digit returns, mid cap
index has given around 14% returns. We can observe that the market has given absolute returns in the previous
quarter but is finding it difficult to shape up the further movement.
• Going forward, the market will focus on the upcoming news flows. The non corporate macro data still remains
mixed. The CPI numbers have been reported at 5.4%, higher than expectations, but broadly it remains in the
RBIs comfort zone of 5 - 5.5%. The WPI was reported in the positive territory after 17 Months at 0.7%. The bigger
worry currently is the possible delay in monsoons according to a statement by the IMD. If the delay is only by a
week, there is not much a need for worry for the kharif season. If the monsoon is delayed further, that would
impact the inflation further upwards. This in turn would delay the rate cut expected in the next bi monthly policy
meet.
From the Desk of the CEO.
The heat is on. While many of us have been vacationing in cooler climes, the Sensex has kept itself rather busy, gaining another 4% during the month of May. The upmove has come largely on the back of better-than-expected corporate results and expectations of a good monsoon. Markets are also taking cognisance of various indicators like improved auto sales, higher steel and cement offtake, public infrastructure spending, etc. which are positive signs of an imminent economic recovery.
Crude prices have silently crept up and are currently hovering at the $50 level, almost double from the January lows. So despite the adverse implications of higher crude prices on the Indian economy, there seems to be some positive correlation between crude prices and the equity markets. Though this pattern may not have always played out in the last few decades, the first few months of 2016 certainly seem to indicate so. The main reason for this is the significantly high weightage that the Energy sector has in indices the world over. When oil plummeted to sub-$30 levels, it seriously impacted the profitability of some of the world’s biggest corporations, not only causing their stock prices to fall sharply, but also impacting the broader markets in general. It also indicated a global recessionary trend, thus affecting investor sentiment and causing them to become nervous and risk-averse. The bounce back in crude has brought the price to a level that makes it profitable for companies to drill, creating a sense of well-being for both, the Energy sector as well as the countries whose economies are dependent solely on oil. Where crude prices go from here remains to be seen.
After several quarters of benign inflation, the WPI rose to 0.34% while retail inflation soared to 5.39% in April 2016. This, coupled with higher oil prices would make it difficult for Governor Rajan to announce a rate cut at the next RBI policy meeting on 7th June. Across the globe however, Janet Yellen’s comments on improving economic data in the US has the markets believing that a rate hike by the US Federal Reserve is a high possibility during its next meeting in mid-June. The outcome of Britain’s referendum on Brexit is also an event that we will be closely watching.
With markets factoring in all the good news for now, conventional logic says that short term investors need to be cautious. But when the stock market catches momentum, all negative predictions may be proven wrong.
There are of course, many more bulls than bears when it comes to a 1 year plus view. Long term investors may continue their investments and look to buy into any dips.
Wish all of you a happy monsoon season.
Dear Investors,
Billionaire investor Wilbur Ross said "Ultimately, I think it will be the world's most expensive divorce. But like most divorces, it's probably going to take a lot longer than it should." The Brexit vote to leave the European Union sent shock waves across the globe. Though the pre-poll surveys had indicated a close call, it was largely expected that sanity would prevail on referendum day and the British populace would vote to Remain. The ramifications of an eventual Brexit are likely to be long-drawn and far-reaching. Apart from the impact it has had on the currency markets, there is an imminent danger of other countries wanting to follow suit. This may lead to the ultimate breakdown of the EU, causing geo-political chaos with the danger of recession.
The equity markets seemed to have temporarily shrugged off the event. While the Sensex tanked by over 1000 points when the Brexit result was declared, it has since recovered all its losses and closed the month of June at a YTD high of almost 27,000. Though there may be individual stocks and sectors where revenues are likely to be directly impacted, the market as a whole has shown significant resilience, waiting as it were for Britain to formally initiate the process of exit before assessing its overall impact.
This week RBI policy will be announced expectation for the same has been muted; mostly RBI would maintain the
status quo right before onset of the monsoon. RBI would not cut rate primarily because CPI has started inching up
both ways in absolute terms and in its contribution to WPI, RBI’s decision will be impending until how monsoon
and CPI panes out . So the policy would remain flat.
Earnings have been marginally better than expectation, Certain quarters people expected good results from PSU
banks but it did not happen, apart from this results specially from IT, FMCG, Consumer durable and Auto was
surprising and expectations are that this trend would continue for some time.
Global bond yields are at historical lows which mean global bond prices have rallied across developed markets while S&P 500 is close to its historical high. This by itself is a dichotomy as bond prices and equity prices are not expected to rally together at the same point. Either of the two has to be true.
•Bond prices and yields are inversely related therefore, bond prices rally when yields and interest rates are expected to be low. Interest rates are expected to be low because growth prospects are low. This would entail the central banks to cut rates and because the demand for credits will be low due to the low growth prospects, the yields are expected to be low which explains the rally in bond prices. Considering this, the rally in the equity markets is not possible as there is no expectation for growth. This is the dichotomy that the global world is at particularly in the developed markets. In the light of the current scenario, either of the two has to give in i.e. either bond prices correct leading to normalcy in yields or equity markets give in.
After the uncertainty of the Brexit verdict got over, the market rallied in the last week. The market got off on the
wrong foot on the day of the Referendum results and corrected by almost 1000 points. But the market soon
realized that the renewal in trade agreement between UK and Euro is not going to happen anytime soon and it will
take around 1-2 years. India being an emerging nation, the impact of this event is quite limited. After this the
market resumed its upt uptrend. Since budget, the nifty is up by 1000 points, and in percentage terms it has gained
22%. We should remember that it is still 10% off of the it’s all time high, which was achieved in March 2015.
• Despite the fact that the PE multiple of the Indian Markets is 17 – 18 times, the FIIs continue to invest in India on
account of better growth prospects, better earning visibility. India is the only trillion dollar economy which is
growing on 7.5%, which makes it a lucrative long term story.
Dear Investors,
The month of July has seen the heavens literally open their doors and shower their blessings on us. After a late start in June, the monsoon picked up
smartly and the country as a whole received abundant rainfall, bringing cheer to one and all and definitely a sense of relief. The same good cheer
seems to have percolated to the global equity markets as well. Having brushed off the Brexit issue, markets have continued their upward move
relentlessly through the month of July. The US benchmark index, the S&P 500 hit a new lifetime high earlier in the month on the back of good jobs
data and an optimistic view of growth in the US economy. Not wanting to be left out in any way, the Nifty set a new 52-week high and the Sensex
scaled 28,000.
The quarterly results have been a mixed bag so far. While there have been more hits than misses, the IT sector as a whole and some pharma
companies have been the major pockets of underperformance. Most of the private sector retail banks and NBFCs have shown a stellar performance,
while growth in public sector banks was stagnant due to liquidity and NPA issues. In the consumer space, lower costs have added to the profits of
several companies, but revenue growth and volume growth were disappointing. There is hope that these will see a significant pick up in the second
half of the financial year once the benefits of the 7th Pay Commission and a good monsoon kick in.
Introduction of GST in the Rajya Sabha has significance because it could have been passed in the Lok Sabha also. However, Rajya Sabha is where the government does not have majority and since it’s a constitutional amendment that requires two thirds majority, convincing all the parties is a key milestone and to that extent, introduction and subsequent passage of the bill in the Rajya Sabha will be important.
•Earnings Data for 8 core industries including mining, infrastructure and electricity was received which indicated a growth by 5.2% which augers well. However, one needs to see if this is a onetime occurrence or will it continue. Also, since rainfall was moderate, by the end of July, rural consumption is expected to be strong. To that extent, GDP is likely to grow anywhere between 7.5-8% this year. The government’s earlier projections in the budget carry an upward bias.
From the Desk of the CEO.
The heat is on. While many of us have been vacationing in cooler climes, the Sensex has kept itself rather busy, gaining another 4% during the month of May. The upmove has come largely on the back of better-than-expected corporate results and expectations of a good monsoon. Markets are also taking cognisance of various indicators like improved auto sales, higher steel and cement offtake, public infrastructure spending, etc. which are positive signs of an imminent economic recovery.
Crude prices have silently crept up and are currently hovering at the $50 level, almost double from the January lows. So despite the adverse implications of higher crude prices on the Indian economy, there seems to be some positive correlation between crude prices and the equity markets. Though this pattern may not have always played out in the last few decades, the first few months of 2016 certainly seem to indicate so. The main reason for this is the significantly high weightage that the Energy sector has in indices the world over. When oil plummeted to sub-$30 levels, it seriously impacted the profitability of some of the world’s biggest corporations, not only causing their stock prices to fall sharply, but also impacting the broader markets in general. It also indicated a global recessionary trend, thus affecting investor sentiment and causing them to become nervous and risk-averse. The bounce back in crude has brought the price to a level that makes it profitable for companies to drill, creating a sense of well-being for both, the Energy sector as well as the countries whose economies are dependent solely on oil. Where crude prices go from here remains to be seen.
After several quarters of benign inflation, the WPI rose to 0.34% while retail inflation soared to 5.39% in April 2016. This, coupled with higher oil prices would make it difficult for Governor Rajan to announce a rate cut at the next RBI policy meeting on 7th June. Across the globe however, Janet Yellen’s comments on improving economic data in the US has the markets believing that a rate hike by the US Federal Reserve is a high possibility during its next meeting in mid-June. The outcome of Britain’s referendum on Brexit is also an event that we will be closely watching.
With markets factoring in all the good news for now, conventional logic says that short term investors need to be cautious. But when the stock market catches momentum, all negative predictions may be proven wrong.
There are of course, many more bulls than bears when it comes to a 1 year plus view. Long term investors may continue their investments and look to buy into any dips.
Wish all of you a happy monsoon season.
Dear Investors,
Billionaire investor Wilbur Ross said "Ultimately, I think it will be the world's most expensive divorce. But like most divorces, it's probably going to take a lot longer than it should." The Brexit vote to leave the European Union sent shock waves across the globe. Though the pre-poll surveys had indicated a close call, it was largely expected that sanity would prevail on referendum day and the British populace would vote to Remain. The ramifications of an eventual Brexit are likely to be long-drawn and far-reaching. Apart from the impact it has had on the currency markets, there is an imminent danger of other countries wanting to follow suit. This may lead to the ultimate breakdown of the EU, causing geo-political chaos with the danger of recession.
The equity markets seemed to have temporarily shrugged off the event. While the Sensex tanked by over 1000 points when the Brexit result was declared, it has since recovered all its losses and closed the month of June at a YTD high of almost 27,000. Though there may be individual stocks and sectors where revenues are likely to be directly impacted, the market as a whole has shown significant resilience, waiting as it were for Britain to formally initiate the process of exit before assessing its overall impact.
This week RBI policy will be announced expectation for the same has been muted; mostly RBI would maintain the
status quo right before onset of the monsoon. RBI would not cut rate primarily because CPI has started inching up
both ways in absolute terms and in its contribution to WPI, RBI’s decision will be impending until how monsoon
and CPI panes out . So the policy would remain flat.
Earnings have been marginally better than expectation, Certain quarters people expected good results from PSU
banks but it did not happen, apart from this results specially from IT, FMCG, Consumer durable and Auto was
surprising and expectations are that this trend would continue for some time.
Global bond yields are at historical lows which mean global bond prices have rallied across developed markets while S&P 500 is close to its historical high. This by itself is a dichotomy as bond prices and equity prices are not expected to rally together at the same point. Either of the two has to be true.
•Bond prices and yields are inversely related therefore, bond prices rally when yields and interest rates are expected to be low. Interest rates are expected to be low because growth prospects are low. This would entail the central banks to cut rates and because the demand for credits will be low due to the low growth prospects, the yields are expected to be low which explains the rally in bond prices. Considering this, the rally in the equity markets is not possible as there is no expectation for growth. This is the dichotomy that the global world is at particularly in the developed markets. In the light of the current scenario, either of the two has to give in i.e. either bond prices correct leading to normalcy in yields or equity markets give in.
After the uncertainty of the Brexit verdict got over, the market rallied in the last week. The market got off on the
wrong foot on the day of the Referendum results and corrected by almost 1000 points. But the market soon
realized that the renewal in trade agreement between UK and Euro is not going to happen anytime soon and it will
take around 1-2 years. India being an emerging nation, the impact of this event is quite limited. After this the
market resumed its upt uptrend. Since budget, the nifty is up by 1000 points, and in percentage terms it has gained
22%. We should remember that it is still 10% off of the it’s all time high, which was achieved in March 2015.
• Despite the fact that the PE multiple of the Indian Markets is 17 – 18 times, the FIIs continue to invest in India on
account of better growth prospects, better earning visibility. India is the only trillion dollar economy which is
growing on 7.5%, which makes it a lucrative long term story.
Dear Investors,
The month of July has seen the heavens literally open their doors and shower their blessings on us. After a late start in June, the monsoon picked up
smartly and the country as a whole received abundant rainfall, bringing cheer to one and all and definitely a sense of relief. The same good cheer
seems to have percolated to the global equity markets as well. Having brushed off the Brexit issue, markets have continued their upward move
relentlessly through the month of July. The US benchmark index, the S&P 500 hit a new lifetime high earlier in the month on the back of good jobs
data and an optimistic view of growth in the US economy. Not wanting to be left out in any way, the Nifty set a new 52-week high and the Sensex
scaled 28,000.
The quarterly results have been a mixed bag so far. While there have been more hits than misses, the IT sector as a whole and some pharma
companies have been the major pockets of underperformance. Most of the private sector retail banks and NBFCs have shown a stellar performance,
while growth in public sector banks was stagnant due to liquidity and NPA issues. In the consumer space, lower costs have added to the profits of
several companies, but revenue growth and volume growth were disappointing. There is hope that these will see a significant pick up in the second
half of the financial year once the benefits of the 7th Pay Commission and a good monsoon kick in.
Introduction of GST in the Rajya Sabha has significance because it could have been passed in the Lok Sabha also. However, Rajya Sabha is where the government does not have majority and since it’s a constitutional amendment that requires two thirds majority, convincing all the parties is a key milestone and to that extent, introduction and subsequent passage of the bill in the Rajya Sabha will be important.
•Earnings Data for 8 core industries including mining, infrastructure and electricity was received which indicated a growth by 5.2% which augers well. However, one needs to see if this is a onetime occurrence or will it continue. Also, since rainfall was moderate, by the end of July, rural consumption is expected to be strong. To that extent, GDP is likely to grow anywhere between 7.5-8% this year. The government’s earlier projections in the budget carry an upward bias.
[FR] Cercle Premier RSE : COP 21, comment le digital peut aider ? #CercleRSEOrange Business Services
Vendredi 15 janvier 2016, Orange organisait une matinée #CercleRSE pour faire le point quelques semaines après la fin de la COP21 et explorer les pistes et leviers numériques capables d'aider les entreprises à réduire leur empreinte écologique.
Webinar on identifying, preventing and securing against the unidentifiable at...Intergence Ltd.
In this webinar we look at how the majority of today’s networks are vulnerable to a set of advanced attacks which can go undetected by many security systems. Advanced Evasion Techniques exist which can pass through firewalls and intrusion prevention systems, allowing an attacker to deliver a malicious payload to a vulnerable device, undetected.
Stonesoft’s Alan Cottom will demonstrate a live attack on an IPS-protected system using their Predator tool and how this attack can be blocked via the Stonesoft security suite of products.
Intergence will be demonstrating their cutting edge 3D visualisation tool Hyperglance which integrates with a number of network management and security systems including the Stonesoft products. Hyperglance will be used to visualise the IT infrastructure and identify where systems are vulnerable and pinpoint real time attacks, allowing administrators to take immediate action to secure their network.
Uncover tips for better integrating sales and marketing strategies. This session will provide insights and examples into how messages that revolve around customers’ and prospects’ and are delivered in a compelling and actionable ways help to close more deals.
For more than a decade Perron has been recognised for the quality and innovative design of some landmark New Zealand properties.
A privately owned group, Perron, through its specialist operating divisions has a reputation for producing quality developments, which include luxury apartments, hotel, retail, commercial offices, and storage facility developments.
Perron’s commitment to quality is more than just a by-line, Perron has been well recognised in the past two years with 19 National and International awards for construction and design excellence.
Fortalecimiento y desarrollo rural integral de los Afrocolombianos: el caso d...Fundación Acua
El presente documento fue elaborado entre mayo y agosto
de 2014 por la Fundación Activos Culturales Afro –acua–,
para el Fondo Internacional de Desarrollo Agrícola –fida–.
Su punto de partida es el trabajo que la Fundación realiza
desde 2007 con comunidades afrodescendientes en América
Latina, en la puesta en valor de sus activos culturales.
The World This Week - 03rd Aug to 08th Aug, 2015
As expected rates were kept unchanged in the RBI credit policy last week but the tone of the policy along with macro economic factors suggest that there could be a chance of rate cut in the next credit policy which is due on 29th September or even before that. The only concern is distribution of monsoon which is very uneven so if monsoon plays out properly then the rates may be cut. The change witnessed from previous credit policy to this one is the probability of another rate cut happening in this calendar year has increased from 50% to 75%. There would be certain consequences of a rate cut. Sectors which would benefit are stable businesses like Auto, Private Banks, and NBFC etc. Sectors like infrastructure, manufacturing, high capital intensive business which are facing problems of raising capital, inadequate profitability etc would still struggle despite a rate cut. Know
Equity View:
Markets are moving into earnings season and initial results of few corporate entities seem good enough,
starting with Indusind Bank followed by Infosys. The numbers of these companies were expected to come
out well thus this outcome is not surprising from sectors like Private Sector Banks, IT, FMCG and Pharma
which are expected to perform well. There are few sectors like Capital Goods, Public Sector Banks and old
Infra Companies which can show subdued results. We expect domestic factors like government policies
to drive the market in absence of global cues. IIP data is set to come out today and is expected to be flat;
Inflation is also expected to be higher due to base effect.
Real estate markets have a cycle of around 5 – 7 years thus an off-take seems distant, however buying
could initiate after 2 – 3 years. A rate cut acts as a catalyst but it cannot help in a sudden pick-up of
demand.
There is always a trend and a counter trend in the movement of an asset class. We need to see the long
term trend. In commodities there is bearish long term trend so counter trend is bullish and thus,
currently we are seeing a counter trend in this asset. Similarly, if we have a bullish long term trend for
equity markets then from time to time there would be correction which is also happening now and this is
known as counter trend. The incremental savings of the government can either be used in the form of an
investment, subsidies or 7th Pay commission arrears. This definitely leads to correction in equity markets
but it doesn’t lead to bearish phase. If everyone is hopeful about the turnaround of Indian story and
economic revival then no one exits completely from the stock markets. Larger expectations are that
investments will certainly pick up and we all are hopeful about it.
News:
DOMESTIC MACRO:
Indirect tax collection rose 35.8% to over Rs. 3.24 lakh crore in the first half of the current fiscal.
Indirect tax collection in the period from April to September in the last fiscal stood at about Rs.
2.38 lakh crore.
The International Monetary Fund (IMF) in its latest World Economic Outlook has lowered India’s
growth forecast for FY16 to 7.3% from its July forecast of 7.5%. Growth is expected to bounce back
to 7.5% in 2016-17 on the back of reforms, pick-up in investments and lower commodity prices.
The Reserve Bank of India (RBI) will be increasing the investment limit for Foreign Portfolio
Investors (FPIs) in Government Securities to Rs. 1,79,500 crore by January 1 from the existing Rs.
1,53,500 crore.
The Cabinet approves a Railway Ministry proposal to pay bonus equivalent to 78 days’ pay, with a wage
ceiling of Rs 3500 a month.
Similar to The World This Week - 18th - 22nd April, 2016 (20)
BREXIT
What is Brexit?
-Brexit is a combination of the words, ‘Britain’ and ‘exit’
-It refers to the EU referendum, a vote that took place on June 23, 2016 to decide Britain’s membership with the European Union
-The official question voters were asked was: ‘Should the United Kingdom remain a member of the European Union or leave the European Union?’
The EU Referendum Verdict
Factors responsible for Brexit
-High unemployment
-Increased migration
-Threat of terrorism
-2008 financial cash
-High EU membership fees
Immediate impacts of Brexit
- Fall in bond markets
- Crude oil tumbled to 5%
- Gold jumped to around 5%
-Sharp fall in Pound to $1.3229
- High volatility in JPY and EUR
-Major equity indices lost 2-10%
Why India will survive Brexit?
-Lower crude oil prices
-Enviable macro environment
-Overhauling in banking sector
-Favourable monsoon forecasts
-Stable government focussed on reforms
Aftermath of Brexit
- Divide in EU countries
- Exports likely to be hit
- Second referendum in Scotland
- Slower economic growth in long term
- Border control issues with Northern Ireland
- Increase in populist movements seeking referendums
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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3. EQUITY VIEW
• The Q4 results during the previous week were broadly in line with estimates. Going forward, the results will be
similar or slightly higher than expectations this results season. There might be an optical improvement in the
performance of poorly run banks, be it PSU banks or smaller private sector midcap banks on the back of the
breather given by RBI to these banks with respect to recognition of bad assets. On this backdrop, these high beta
stocks saw a sharp rally during the previous week. Such rallies should be used to sell off such stocks rather than
buying into them.
4. EQUITY VIEW
• This relief or laxity in terms of recognising bad assets does not change the fundamentals of these banks. The
hawkish attitude of the RBI enabled us to know the bad assets which these banks were sitting on. Investors should
not compound their mistakes by buying into these banks basis the leeway given by RBI to these banks. As an
illustration, we can refer to the aftermath of the 2008 crisis. The RBI had given banks a regulatory forbearance and
many PSU banks to not recognise or gave them a long rope in recognising bad Assets. The result of this was that
many PSU banks outperformed the market to a large extent. But as of 2016, many of these banks are not even
50% of their market caps in their 2010 peak levels.
• On the global front, we had disappointing earnings from Microsoft and tepid growth from Google. This does not
bode well for the markets and we can expect some selling pressure in the market. The rally which we saw from
7200 to 7900 was dictated to a large extent by Risk on, which was a sharp rally in the commodities and the global
indices. The current market scenario can be looked at as a buy on decline market.
6. DOMESTIC MACRO
• Foreign Direct Investment into India touched the "highest ever" mark of $51 billion during the April-
February period of last fiscal ended March 31, The Secretary the Department of Industrial Policy and
Promotion (DIPP) said that healthy business climate has been created in the county so that investments
are promoted
• Building on their buying momentum, foreign investors have poured close to $2 billion into capital markets
so far in April, driven by hopes of a good monsoon and positive macroeconomic data. It comes following
a staggering inflow of Rs. 19,967 crore in the capital markets — both equities and debt — last month.
7. GLOBAL MACRO
• Several more countries and offshore territories have joined a scheme to
clamp down on tax evasion and corruption launched by the continent's
biggest nations, Britain's finance ministry said. Nineteen additional
authorities have agreed to automatically share information on who ultimately
owns companies after the plan was announced last week by Britain,
Germany, France, Italy and Spain.
• Germany announced Wednesday a growth forecast for its economy in the
current year and the next, vowing that an unprecedented flow of refugees
into the West European country could be mastered. Economy Minister
Sigmar Gabriel said Berlin is penciling in an economic growth of 1.7 percent
for 2016 and 1.5 percent for 2017.
EURO
8. GLOBAL MACRO
• U.S. Federal Reserve policymakers are expected to hold interest rates
steady when they meet this week, but may tweak their description of the
economic outlook to reflect more benign conditions, leaving the path open
for future rate rises.
• Borrowing by U.S. companies to spend on capital investment declined 11
percent in March from a year earlier, trade association Equipment Leasing
and Finance Association (ELFA) said. Companies signed up for $8.1 billion
in new loans, leases and lines of credit last month, up 33 percent from
February, said ELFA, a Washington-based trade association that reports
economic activity for the $1 trillion equipment finance sector
UNITED STATES
9. GLOBAL MACRO
• China's future monetary policy will avoid encouraging companies to take on
more debt and will consider the impact of money supply on prices, an
influential central bank economist was quoted saying by the Financial News.
• China’s property-led economic rebound gathered pace in April, according to
the earliest batch of private indicators for the month. Gauges from four
providers all increased in April from March, while sub-indexes for
employment showed stronger demand for workers. Still, not all the clouds
have parted: data tracking the outlook of businesses show companies
remain reluctant to invest.
CHINA
14. DISCLAIMER
The information and views presented here are prepared by Karvy Private Wealth (a division of Karvy Stock Broking Limited) or other Karvy Group companies. The information contained herein is based on
our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for
any loss incurred based upon it.
The investments discussed or recommended here may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial
position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned here, investors may please note that neither Karvy nor any person
connected with any associated companies of Karvy accepts any liability arising from the use of this information and views mentioned here.
The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above-mentioned companies from time to time. Every employee of Karvy and its associated
companies are required to disclose their individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in
purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders
only through Karvy Stock Broking Ltd.
The information given in this document on tax are for guidance only, and should not be construed as tax advice. Investors are advised to consult their respective tax advisers to understand the specific tax
incidence applicable to them. We also expect significant changes in the tax laws once the new Direct Tax Code is in force – this could change the applicability and incidence of tax on investments
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