Author: root

Buy Tech Mahindra stock

Emkay Global sees an upside of nearly 24% on the stock of Tech Mahindra and has set a target price of Rs 1,700 on the stock, with a buy recommendation.

“We expect 4.2% QoQ growth in USD revenue with cross-currency headwinds of 50 basis points. We expect 3% growth in Communications and 5% growth in the Enterprise business. Expect EBIT margins to decline marginally by 10 basis points sequentially due to supply-side challenges. Key things to watch out for: 1) Communications and Enterprise business outlook, 2) update on 5G-related technology spending uptick, 3) performance of the BPO business, 4) FY22 revenue growth and margin outlook, 5) attrition, and 6) deal intake during the quarter, deal pipeline and deal closure momentum,” the brokerage has said.

Birlasoft Ltd

Emkay Global also sees an upside of approximate 24% on the stock of Birlasoft Ltd and has set a target price of Rs 500, as against the current market price of Rs 409.

“We expect 5.3% QoQ USD revenue growth after considering 20 basis points cross-currency headwinds. EBIT margins are expected to decline by 110 basis points due to wage hikes and supply-side challenges. We expect net profits to decline 6.4% sequentially. Key things to watch out for: 1) order wins during the quarter and deal pipeline, 2) outlook on revenue and margin trends through FY22, 3) outlook for key industries like Manufacturing, Life Sciences, BFSI, and E&U, 4) attrition and steps taken to manage supply-side challenges,” the brokerage has said in the IT report.

Route Mobile

The brokerage also has a buy call on the stock of Route Mobile with a price target of 19% on the stock to a target price of Rs 2,420.

We expect revenue to grow 14.9% QoQ on recovery in volume and benefits accruing from the rate increase in ILD messages. Recovery in revenue growth momentum and better realization to drive 130bps margin expansion sequentially. Key monitorables: 1) Impact on revenues and margins due to the price hikes on SMS charges for global companies by telcos, 2) traction in demand for new products, 3) update made on developer program, 4) RCS traffic monetization plan,” the brokerage has said.

Disclaimer

The investment ideas are picked from the brokerage report of Emkal Global. Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.

How to e-verify Income tax using Net Banking?

Step 1: On the e-Verify page, click Continue after selecting Through Net Banking.

Step 2: Click Continue after selecting the bank through which you want to e-Verify.

Step 3: Read the disclaimer and make sure you understand it. Click Continue.

Note: You will then be sent to the Net Banking login page for your bank account.

Step 4: Enter your Net Banking user ID and password to access your account.

Step 5: From your bank’s website, click the link to log in to e-Filing.

Step 6: After successfully logging in, you will be sent to the e-Filing Dashboard. On the appropriate ITR / Form / Service, click e-Verify. Your ITR / Form / Service will be e-Verified successfully.

A success message and a Transaction ID are displayed on a page. Please keep the Transaction ID on hand in case you need it again. You will also receive a confirmation message to the email address and phone number you supplied on the e-Filing portal.

How to e-verify income tax using Demat Account?

How to e-Verify Income tax using Demat Account?

Step 1: Log in to your e-filing account with login details

Step 2: Select the ‘Profile Setting’ button and then the option to ‘Pre-validate Your Demat Account.’

Step 3: Fill up the following information: DP ID, Client ID, Depository Type (NSDL/CDSL), Mobile Number, and Email Address.

Step 4: Select the ‘Pre-validate’ option from the drop-down menu.

Step 5: If you choose yes, the EVC will be sent to your registered phone number.

Verify your returns using the EVC you received.

How to e-Verify tax return after login?

Step 1: Enter your user ID and password to access the e-Filing portal.

Step 2: Select e-File > Income Tax Return > e-Verify Return from the drop-down menu.

Step 3: On the e-Verify Return screen, choose the unconfirmed return and click e-Verify.

Step 4: Click Ok if you’re e-Verifying the return after it’s been 120 days since you filed it.

Step 5: Select the Reason for Delay from the selection and click Continue to submit a condonation delay request.

Step 6: Select the e-verification mode.

How to e-verify using Digital Signature Certificate ?

You will not be able to e-Verify your ITR using a Digital Signature Certificate if you choose the e-Verify Later option while filing your Income Tax Return. You can use DSC as an e-Verification option if you want to e-Verify your ITR right after filing.

Step 1: Select I’d want to e-Verify utilizing a Digital Signature Certificate on the e-Verify page (DSC).

Step 2: Select Click here to download emsigner application from the Verify Your Identity page.

Step 3: On the Verify Your Identity page, select I have downloaded and installed emsigner utility and click Continue when the download and installation of emsigner utility is complete.

A page featuring a success message and a Transaction ID is displayed. Please keep the Transaction ID on hand for future use. A confirmation message will also be sent to the email address and mobile number you provided on the e-Filing portal.

How to e-verify after generating Aadhaar OTP?

Step 1: On the e-Verify page, select I’d like to verify using an OTP on an Aadhaar-linked mobile number and click Continue.

Step 2: Select the I agree to validate my Aadhaar Details checkbox on the Aadhaar OTP screen and click Generate Aadhaar OTP.

Step 3: Click Validate after entering the 6-digit OTP sent to your Aadhaar-registered mobile number.

Note:

• The OTP will only be valid for 15 minutes.
• You have three chances to type in the correct OTP.
• The screen’s OTP expiry countdown timer indicates when the OTP will expire.
• A new OTP will be generated and sent when you click Resend OTP.
• A confirmation message will also be sent to the email address and mobile number you provided on the e-Filing portal.

How to e-Verify using existing Aadhaar OTP?

Step 1: On the e-Verify page, select I already have an OTP on Mobile number registered with Aadhaar.

Step 2: Enter the 6-digit OTP available with you and click Continue.

A confirmation message will also be sent to the email address and mobile number you provided on the e-Filing portal.

How to Generate Electronic Verification Code (EVC) through Bank ATM?

Step 1: Go to an ATM at your bank and swipe your ATM card.

Note that only a few banks offer the service of generating EVC via a bank ATM.

Step 2: Enter your PIN.

Step 3: Select Generate EVC for Income Tax Filing from the drop-down menu.

An EVC will be delivered to the mobile number and email address you provided when you enrolled for the e-Filing portal.

Note: Your PAN must be linked to your bank account, and the same PAN must be registered with the e-Filing portal.

Step 4: Select I already have an Electronic Verification Code (EVC) as a preferred e-Verification option to use the produced EVC to e-Verify the return.

Delay in e-verification attract any penalty?

If you do not verify your return in a timely manner, it will be deemed as unfiled, and you will be subject to all of the penalties imposed by the Income Tax Act of 1961 for not filing an ITR. You may, however, ask for a delay in verification to be excused provided you provide sufficient justification. You’ll be able to e-Verify your return only when you’ve submitted such a request. The return, on the other hand, will only be considered genuine once the condonation request has been authorised by the appropriate tax authority.

India has increased its gold imports in September by a massive 658% than 2020’s lower base. The international gold prices are quite volatile at present and dropped considerably in both August and September. It is being anticipated that corrections in local prices to the lowest level in the last few months have prompted the Indian jewellers to increase their gold purchases for making more ornaments. On average Indian gold, rates slipped by 2.11% in August while slipped by 4.08% in September, in line with the global prices. Hence, massive import in September was certainly profitable for the country as the prices are again hiking to the earlier levels in October. Indians celebrate multiple auspicious festivals in October and November, so the increase in gold storage will help the country’s economy in both ways – in terms of pricing and reserve.

Gold import figure in September

In September, Indian jewellers have imported around 91 tonnes of gold, while they have imported around 12 tonnes of gold in the last year. Hence, monetarily, in the month, gold imports hiked to $5.1 billion, from $601 million in the last year, according to a Kitco report. This translates that in the September quarter, gold imports by India have gained by 170% than 288 tonnes in the earlier year. This additionally proves that the demand of physical gold is again improving in the domestic markets.

When some of the investors and mostly the traders were concerned about gold prices in the international markets, Indian gold jewellers kept faith in the metal’s ability to soar again. September has been a very uncertain month for the US economy in terms of their inflation, employment data. These factors kept gold prices down. On the other hand, INR was appreciating at that time, which helped Indian buyers to buy more gold from the foreign markets.

Good time for Indian jewellers

This will pay the Indian jewellers better now, as the US debt ceiling figures are concerning the US dollar index, coupled with a pressured equity market and around 1.9% hike in the US 10 years treasury yields. These are again hiking gold prices globally. So, Indian jewellers will be able to sell their gold jewelleries at far better prices in October, in the festive season. The international gold prices again started to cross the $1765 levels which can also improve later. Along with this, Indian daily gold rates are also being quoted around Rs. 45,500/10 grams again. The Mumbai MCX gold in October future was quoted at Rs. 46361/10 grams till 4.49 PM IST, on October 4. These are affirmative signals for Indian gold importers.