Even as the government is yet to take a call on putting the 23-storeyed Air India Building in the tony Nariman Point business hub of south Mumbai on the block, many PSUs such as LIC and GIC have evinced interest in the prime property, a senior airline official said on December 7.
It can be noted that LIC and GIC have their headquarters in the proximity to the Air India building, which also happens to be the erstwhile headquarters of the national carrier.
“No decision has been taken so far on selling the Air India building. But some companies, majorly the public sector undertakings such as LIC and GIC have shown considerable interest in it. This is apart from JNPT,” the official said.
The national carrier had collected Rs 291 crore as lease rentals from the property between FY13 and January 2018.
Tariffs could impact corporate earnings in early 2019, says Sand Hill Global CIO 15 Hours Ago | 02:55
The market is close to hitting an “all-clear” signal that could mean there is more upside ahead, one of Wall Street’s biggest bulls told CNBC on Friday.
Tony Dwyer, chief market strategist at Canaccord Genuity, is looking at the S&P 500’s 10-week rate-of-change indicator, which measures the percent change in the index.
When it drops to minus 9 and then recovers to minus 5, “that’s your all-clear signal throughout the current cycle that the correction is over.” We’re not too far from that now, at around minus 6, he said on “Fast Money Halftime Report.”
Friday was the last trading day of November. The Dow Jones Industrial Average and S&P 500 ended a volatile month higher by 1.8 percent and 1.7, respectively, while the Nasdaq eked out a 0.3 percent gain.
The action followed a rough October that saw the Dow end down 5.1 percent for the month, its biggest one-month fall since January 2016. The S&P 500 had its worst October since September 2011.
“As long as the yield curve stays positive, investors should stay generally bullish, and you tactically move based on ridiculous levels of euphoria, when you have an environment ripe for volatility, versus recently where you have environments ripe for opportunity because you had that kind of I call it a whoosh … and then a retest.”
He has said he plans to stay bullish until the yield curve inverts, which means long-term rates are lower than short-term ones. Historically when that happens it has signaled a recession in the foreseeable future.
Four sectors to drive new highs
Dwyer sees four sectors that can lead the market to new highs.
“When the Fed pauses raising interest rates and you haven’t inverted the curve and shut down credit, the … four sectors that do the best are banks, industrials, tech and health care,” he said.
On Wednesday, Federal Reserve Chairman Jerome Powell said he considers the central bank’s benchmark interest rate to be near a neutral level, an apparent turn from his earlier remarks that it was a long way from neutral. He also said there is no preset policy path. The stock market soared on his change of tone.
The Fed is expected to hike rates in December. While the central bank’s most recent projection is for three increases in 2019, traders now see only one more hike fully priced in for next year.
However, Dwyer said he would wait for confirmation that the market is going to hit new highs.
“If you don’t make a new high … you are going to roll and you are going to roll hard,” he said.
The gross tax collections, before adjusting for refunds, rose 14.5% to Rs8.83 trillion during the 11-month period of the current financial year. Photo: Mint
New Delhi: The direct tax collection has risen 19.5% to Rs7.44 trillion in the April-February period of the current fiscal, buoyed by a strong pick up in corporate tax.
The net direct tax collection represents 74.3% of the Rs10.05 trillion as per the revised estimates given in Union Budget 2018-19, presented in Parliament last month.
“The provisional figures of direct tax collections up to February, 2018 show that net collections are at Rs7.44 trillion which is 19.5% higher than the net collections for the corresponding period of last year,” a finance ministry statement said.
The gross collections, before adjusting for refunds, rose 14.5% to Rs8.83 trillion during 11 month period of the current financial year. Refunds amounting to Rs1.39 trillion have been issued till February. The growth rate for net corporate tax collections stood at 19.7% while for personal income tax is 18.6%.
Congress on Sunday said it was exposing yet again Prime Minister Narendra Targeting the newly launched ‘PSB loan in 59 minutes’ scheme and claiming it was actually being managed by an Ahmedabad-based private company, Congress also demanded an immediate and independent judicial body probe into the scheme launched for the MSME sector by PM Modi on November 2.
Referring to the scheme as a “scam”, Congress spokesperson Gaurav Vallabh alleged that the web portal managing the scheme is supported by public sector institutions such as SIDBI and PSU banks as partners, even though it is owned by Ahmedabad-based private company CapitaWorld Platform Pvt Ltd
“The website asks applicants to pay Rs 1180 as service charge plus GST. If one million MSMEs apply for the same, the Company stands to gain Rs 100 crores for lead generation. This is before the banks even consider the MSME for an in-principle sanction. Should a government scheme be allowed to enrich private parties? Also, can public institutions promote a private platform and give commissions, enhanced due to the publicity done by government?”, he said.
Modi’s effort to help ‘friends’ by promoting private and crony capitalists at the expense of public institutions.
West Bromwich Albion have been the beneficiaries of the loan window this season, as far as borrowing players goes.
Dwight Gayle, Harvey Barnes and Tosin Adarabioyo have all arrived from Premier League clubs, and the former two in particular have made notable contributions.
Albion also have a host of players out on loan themselves. Some are previously first-choice players at The Hawthorns, who have moved on after the club’s relegation from the Premier League.
Most of them, though, are young players who are hoping to gain more important experience with the intention of returning and forcing their way in Darren Moore’s first-team plans.
Having now completed the first third of the season, we check in on the Baggies’ loan rangers in their new surroundings.
How are they getting on in their spells away from B71?
Where : ADO Den Haag
Until : The end of the season
The Chinese forward hasn’t kicked a ball at Albion, since being signed in the summer of 2017.
Zhang didn’t feature at Werder Bremen last term, and hasn’t yet for new loan side ADO Den Haag.
The 21-year-old has, though, been a prominent member in China’s Asian Games matches. He scored twice as his nation won their group which included East Timor, Syria and UAE. China were knocked out in the knock-out stages by Saudi Arabia.
He is set to play for Den Haag in their youth team this week.
Appearances (international): 4
Goals (international): 2
Where : Walsall
Until : The end of the season
Darren Moore told Jack Fitzwater that he wasn’t far away from the Albion first-team, but the centre-back deciding on returning to Walsall for guaranteed football.
So far, it’s paid dividends; the tall defender has played in all 18 league and cup games so far, and but for a penalty shoot-out the Saddlers would still be unbeaten. Fitzwater and Walsall have kept three clean sheets and he netted in the EFL Trophy win over Middlesbrough U21s.
Harley Sheldon (on Twitter): “Good to see Fitzwater back, probably the best person to bring in at this time.”
Appearances : 18
Goals : 1
Where : Walsall
Until : The end of the season
Right-back Wilson followed Fitzwater to the Banks’s Stadium this summer, after a successful loan spell at League Two Exeter last term.
Interestingly, manager Dean Keates has been utilising the teenager on the wing in front of regular right-back Nicky Devlin, in order to see out games in the closing stages.
Wilson has started just seven games in all competitions.
Manager Dean Keates said: “He is a young, young man. That is part of his development but he showed why he has got such a bright future ahead of him and why West Brom regard him so highly.”
West Ham United’s massive summer spending spree come at a cost for a number of players.
The Hammers signed no less than 10 players as manager Manuel Pellegrini oversaw a massive squad overhaul in a bid to avoid a repeat of fighting relegation over the past two seasons.
Ryan Fredericks was the first to join as he signed for free after coming to the end of his contract at London rivals Fulham.
He was soon joined by young defender Issa Diop, Lukasz Fabianski and Jack Wilshere following his release from Arsenal, Andriy Yarmolenko, Fabian Balbuena, Felipe Anderson, Xande Silva, Lucas Perez and Carlos Sanchez.
So many new additions meant the likes of Reece Burke, Cheikhou Kouyate and Domingos Quina had to leave on permanent deals in order to play regularly this season.
Then there are some that have departed on a temporary basis.
In all there are currently eight West Ham players out on loan – here’s a look at how they have been getting on.
The attacking midfielder is making the most of his loan spell at Oxford United.
14 appearances across all competitions, three goals. One of which came in a Carabao Cup tie win over Coventry City which set up a third round clash against holders Manchester City.
Browne would have been hoping to pit his wits against the best the country has to offer, but missed out through injury and returned to the XI against Northampton earlier in the month and has since featured in the last five games.
Another loan spell for the talented winger, this time in Holland with VVV-Venlo.
Has featured in seven Eredivisie games thus far and is yet to score or register an assist. Despite a lack of end product, Samuelsen has played a key role in Venlo’s solid start to the season which sees them sit sixth in the table – at one stage they were just two points off the mighty Ajax.
Did score twice in a 3-0 win over Westlandia in a Dutch Cup game earlier in the season.
Hasn’t featured since a win over ADO Den Haag last month.
It hasn’t been the loan spell Haksabanovic nor West Ham would have hoped for at this early stage.
The teenager is yet to feature for Malaga in the second tier of Spanish football.
Somewhat of a rollercoaster 2018 for Hugill as he joined the Hammers from Preston North End in the January transfer window, but went on to make just three Premier League appearances.
Unsurprisingly he joined Middlesbrough on loan.
Didn’t feature against his former club last week as Boro won on penalties at Deepdale in the third round of the Carabao Cup, but started the 1-1 draw against Hull City as well as the 2-0 in over Ipswich Town.
Saw his playing time reduced in October, but played the entire 90 minutes against Stoke City last time out.
Finally got off the mark with a brace in the 2-0 win over Wigan Athletic at the weekend.
Lewis Morgan made another appearance in a Celtic jersey today, and confirmed that he’s not yet ready for the first-team.
The former St Mirren youngster was signed last season before being sent out on loan to the Buddies for the remainder of the campaign. The hope was that he would return to the Hoops fold ready to compete for a first-team spot.
In truth, however, there have been plenty of aspects of Morgan’s game that needs improving. For a club like Celtic who need to win on a weekly-basis, Morgan currently isn’t good enough.
Lewis Morgan has yet to score or assist during his time at Celtic (Vagelis Georgariou/Action Plus via Getty Images)
He’s managed to make 10 appearances for the Parkhead side so far this term. He’s yet to net or nab an assist in any of them. Considering how consistently Celtic players have to perform, this isn’t good enough.
Against Livingston this afternoon, Morgan looked largely off the pace. He had a couple of good dribbles forward, but his final ball and shooting was woeful on the day. Added to that, there was a real lack of strength in the former St Mirren hero’s play.
That was perhaps the most surprising element of Morgan this afternoon. For a player who has spent his younger days at Scottish football’s less glamorous venues, you would expect him to have been bulked up.
Not a lot to cheer about
That most certainly wasn’t the case in West Lothian this afternoon. He was tasked with providing that extra bit of flair that Celtic had been lacking for the first hour. Too easily, however, Morgan was bundled off the ball without much of an effort.
If that’s Celtic’s first port of call when things aren’t going well down the flanks, they’re in trouble. Outside of Scott Sinclair and James Forrest, the Hoops need more quality down either side. As it stands, they don’t currently have that in Morgan.
Ryan Christie went out on loan three times and came back a star (Ian MacNicol/Getty Images)
That’s not to say there isn’t a very capable player in there. We’re talking about a player who made a terrific 102 appearances for St Mirren before he became 22. He’s grown well and experienced plenty of top-team football.
What he now needs is to continue that development at another Premiership club. Therefore, he could do worse than look at the likes of Ryan Christie before him.
Initially, the former Inverness Caledonian Thistle man looked far too weak to make it in Glasgow. After a productive spell at the Dons, however, he forced his way into Brendan Rodgers’ plans.
Morgan can do similar, but he simply isn’t up to the task of playing consistently for Celtic at the moment.