PV sales surge in India as demonetisation impact recedes

 However, with two-wheeler sales still continuing to be in the negative zone, the overall sales across categories registered a decline of 4.71 percent to 16,20,045 units from 17,00,141 units in January 2016. | PV sales surge in India as demonetisation impact recedes Signalling a drive towards recovery with the impact of demonetisation waning off, passenger vehicle (PV) sales in India rose by 14 percent in January reviving hopes of the automobile industry to achieve double digit growth this fiscal. However, with two-wheeler sales still continuing to be in the negative zone, the overall sales across categories registered a decline of 4.71 percent to 16,20,045 units from 17,00,141 units in January 2016. In December 2016, the overall automobile sales growth had touched a 16-year-low at 12,21,929 units, down 18.66 percent, from 15,02,314 units in December 2015. According to Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales last month were at 2,65,320 units, as against 2,31,917 in January last year. Domestic car sales also ticked up to 1,86,523 units as against 1,68,303 in January last year, up 10.83 percent, SIAM said. "Most of the sectors have shown improvement last month. 

Demonetisation: Taxmen suspect income mismatch in 18 lakh people

 Labelled ‘Operation Clean Money’, the I-T department has uploaded the first set of data on its electronic filing portal.  The Income Tax Department has identified 1.8 million people who have made cash deposits between November 10 and December 30 and suspects there is an income mismatch. Labelled 'Operation Clean Money', the I-T department has uploaded the first set of data on its electronic filing portal. “In its first phase, the Income Tax Department has identified 18 lakh (1.8 million) persons where cash deposited during demonetisation period is not in line with the taxpayers’ profile,” said a notice on the I-T department website. To find out whether one’s name is in the list, the department has asked individuals to log on to the I-T electronic filing website and look under 'cash transactions 2016’.

Rise of global protectionism not a grave threat, say experts 

Investors are worried over President’s Donald Trump’s ‘Make in America’ rhetoric, UK Prime Minster Theresa May’s Brexit stance and Indian Prime Minister Narendra Modi’s demonetisation drive. However, the rise of global protectionism is not a grave threat to the growth of markets in 2017, according to market experts.In the recent months, there have been concerns over instances of disruptive leadership seen globally, from the US to the UK. Investors are worried over President’s Donald Trump’s ‘Make in America’ rhetoric, UK Prime Minster Theresa May’s Brexit stance and Indian Prime Minister Narendra Modi’s demonetisation drive. However, the rise of global protectionism is not a grave threat to the growth of markets in 2017, according to market experts.

To that extent, Singhania said that domestic equity schemes may fetch USD 1 billion monthly flows going ahead.Meanwhile, Fidelity Management’s Sam Polyak said investors can look at PSU bank stocks as they are trading at significant discounts. He said he is bullish on domestic-oriented stocks, cement stocks, two-wheeler companies and advised caution against consumer companies as they are expensive.Vazirani added that oil marketing companies make a great bet in the current times, but he was apprehensive about private investment pick-up in India in the near term. He added that earnings for the next two quarters may not be in line with expectations.Further, if financial penetration continues in the country,  banks can be a good theme to bet on he said.Edelweiss’ Khemani, contrary to Polyak’s views, said the consumption sector continues to remain strong and infrastructure companies can benefit in 2017

 

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