ICICI Pru, Venkys, Page Industries, Triveni Turbine hit new highs

MARKET NEWS - ICICI Prudential Life Insurance Company (ICICI Pru), Venky's (India), Page Industries, Triveni Turbine, Godrej Industries and Godrej Consumer Products are among 24 stocks from the S&P BSE 500 & S&P BSE Smallcap index hitting their respective record highs on BSE in intra-day trade on Tuesday.

Transport Corporation of India, Skipper, Sona Koya Steering, Elgi Equipment, Deepak Fertilisers, Aditya Birla Nuvo and Grasim Industries too hit all-time highs today.

ICICI Pru has rallied 8% to Rs 508, its highest level since listing on September 29 2016 on BSE, on back of heavy volumes. A combined 2.56 million shares have already changed hands against an average sub two million shares were traded daily in past two weeks on BSE and NSE.

The stock of insurance company is one of the best performers thus far in the current calendar year 2017, surging 68%, against 17% rise in S&P BSE Sensex.

Since May 25, post March quarter results, ICICI Pru have gained 27% against 1.5% rise in the benchmark index.

During the fiscal ended March 2017, the Value of New Business (VNB) was increased by whopping 61.7% to Rs 666 crore as compared to Rs 412 crore a year ago.

VNB increased primarily on account of increase in protection business and improvement in persistence, ICICI Pru said in a statement.

The management sounded confident of maintaining strong growth trajectory going forward on the back of huge under-penetration in the protection business and rising share of financial savings.

Know about Universities in India and the different types

EDUCATION NEWS - The Oxford dictionary defines ‘University’ as a high-level educational institution in which students study for degrees and academic research is done. Etymologically, ‘university’ is derived from the Latin universitas magistrorum et scholarium, which crudely means "community of teachers and scholars." During medieval times, association of students and teachers with collective legal rights given by princes and statesmen or the towns in which such associations were located came to be known as university.

India’s higher education system works at both private and public level universities. Public universities function under the directives issued by the Government of India and the state governments whereas private universities function under various approved educational bodies and societies. The University Grants Commission (UGC), the highest educational authority, recognizes and awards the ‘universal’ status to various universities. The UGC draws its power from the University Grants Commission Act, 1956. Along with the UGC, 15 Professional Councils are also established, in charge of different parts of accreditation and coordination.

Types of Universities in India:
Central University: Central University aka Union University is established by an Act of Parliament and is under the purview of the Department of Higher Education (DHE) in the Union Human Resource Development Ministry. The UGC lists 46 central universities such as Rajiv Gandhi University, Nalanda University, Indira Gandhi National Open University, University of Delhi etc.

State University: A State University functions under the directives issued by the government of a particular state. It is established by a local legislative assembly act. On February 9, 2017, the UGC has recognized 358 state universities, including the oldest ones such as the University of Mumbai, the University of Madras and the University of Calcutta active since their establishment back in 1857. Colleges affiliated to such universities generally offer a range of undergraduate (UG) courses as well as post-graduate (PG) courses.
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City Union Bank on a recruitment drive. Check if you are eligible to apply

EDUCATION NEWS - City Union Bank Ltd., a leading Private Sector Bank with more than 112 years of trusted service and with a network of 550 branches across the Country requires-Sr.Associates/Asst.Managers/Deputy Managers/Managers/Sr.Managers and Chief Managers for its Computer Systems Department in Chennai, Kumbakonam and other nodal centers

City Union Bank Recruitment Bank job… Grab the job opportunity… City Union Bank has depicted a notice of City Union Bank Recruitment 2017 for filling up Sr. Associates/ Asst. Managers/Deputy Managers/Managers/Sr. Managers and Chief Managers Posts. Interested contenders may appear for walk in interview along with essential enclosures.

City union bank invites applications form from eligible candidates through offline mode. Eligible contenders must satisfy the eligibility norms given below and apply by sending their CUB application form application form along with their CV before the closing date 07-07-2017.Dont neglect this job chance.City union bank is one of the leading private banks which are providing services from 112 years with the help of 550 branches across the country. Organization is going to recruit talented candidates for the above mention posts and Selection will be based on the Personal Interview that will organize by the selection board of the organization.

Organization Name	City Union Bank
Post Name	Associates/Managers
Mode of Selection	Interview
Last date to apply	07-07-2017
Official Site	www.cityunionbank.com

On-ground check: Is India Inc ready for GST?

MARKET NEWS - With barely a few hours to go before goods and services (GST) tax bill becomes a reality, channel / on-ground checks by two leading research houses – Bank of America Merrill Lynch (BofA-ML) and Edelweiss – suggest that India Inc, at least the small and medium enterprises, are not fully prepared for the transition.

Both, however, agree that beyond the short-term pain, there are gains in store over the long run. In the new regime, major Central and State taxes will get subsumed into GST, which will reduce the multiplicity of taxes.

“Our interactions with dealers, manufacturers and GST facilitators suggest that the SME segment is not only struggling for preparedness, but also staring at rising manpower and compliance costs which could disrupt their business and impact cash flows,” says a June 27 report by Edelweiss titled GST: Get, Set, Go.

In the run-up towards last leg of GST implementation, Edelweiss' interactions with companies and trade channels suggested four key points: a) there was significant slowdown in past two weeks of June across several sectors; b) inventory liquidation was wider-than-expected and could last beyond Q1FY18; c) most participants suggested normalisation only from Q3FY18; and d) FMCG, auto ancillaries after-market sales, pharmaceuticals, plywood and tiles sectors were most impacted, while auto OEMs and cement seem to be least impacted.

However, the brokerage argues that the GST will usher in a much simplified tax structure in the country, bring in cost efficiencies and result in market share shift from unorganised to organised players.

GST is a big positive, but I'm not investing in India yet: Jim Rogers

As global equitY MARKET NEWS continue on their journey north, JIM ROGERS, chairman of Rogers Holdings tells Puneet Wadhwa that he expects a correction going ahead. His decision of not to invest right now is not India specific, but has to do with the problems relating to how the major global economies are shaping up. Edited excerpts:

India has implemented the biggest tax reform in history - the goods and services tax (GST). What are your thoughts on the development?

With the implementation of GST, Prime Minister Modi has done what he said earlier. If GST can overhaul the tax system in India, it will be wonderful. This is the best thing to have happened to India by a politician since its independence, i.e. since the last 70 years.

What do you expect from the government in its remaining tenure? Do you see populist measures take centre stage with 2019 general elections in mind?

Well, Narendra Modi has done many populist things in the past. I think the last Union Budget had a number of populist measures as well. But, I don't know how populist will the GST will prove to be, as it is likely to disrupt a lot of people's lives. However, in the end, the measure will be good as it will overhaul the tax system in India. With the elections coming up in 2019, I am sure there will be other populist measures. Every politician in the world prepares for elections by giving away as much as he can.

What's your view on India now as an investment destination? Are you planning to invest here?

No, not yet. That's because I am not investing anywhere in the world right now. I am worried about the global financial markets and hence, I am in a wait-and-watch mode. If the United States (US), Japan or any other major market has problems, it will be a bad one. I am worried that the next time we have an economic slowdown, it's going to be very, very bad and will impact everyone. My decision of not to invest right now is not India specific, but has to do with the problems relating to how the major global economies are shaping up.