CBDT Unveils Taxpayers’ Lounge To Facilitate Compliance With Income Tax Rules

[ad_1]

Read More/Less


Taxes

oi-Vipul Das

|

The Income Tax Department has installed a Taxpayers’ Lounge in India International Trade Fair, 2021 at Pragati Maidan, New Delhi from November 14th to November 27th under the supervision of the Central Board of Direct Taxes and the Ministry of Finance and Department of Revenue. This lounge has been established to raise awareness of the Income Tax Department’s multiple services offered to taxpayers and to make compliance with the different Income Tax regulations and processes easier.

CBDT Unveils Taxpayers’ Lounge To Facilitate Compliance With Income Tax Rules

CBDT has said in an official announcement that “Shri J. B. Mohapatra, Chairman, Central Board of Direct Taxes, New Delhi inaugurated the Taxpayers’ Lounge at 14.11.2021 at Hall No. 12 in the presence of Members of the Central Board of Direct Taxes, the Principal Director General of Income Tax (Administration and Tax Payer Services), the Principal Chief Commissioner of Income Tax (CCA), New Delhi and other senior officers of the Income Tax Department.”

According to the Income Tax Department “The Taxpayers’ Lounge seeks to promote an environment of trust between the Department and the taxpayers as also to educate them about the initiatives taken by the Department in recent times. Keeping this objective in mind, various activities have been organised in the Taxpayers’ Lounge such as:”

i. Assistance in application for PAN/e-PAN, Aadhaar-PAN linking and PAN related queries.

ii. Assistance in e-Filing and Form 26AS (tax-credit) related queries.

iii. Providing Taxpayer Information Series brochures on various topics, available both in e-format and paper format.

iv. Virtual Reality Game and Video Car Game conveying the importance of paying Income Tax, to younger age-group visitors, in an engaging manner.

v. NukkadNatak, Quiz shows, Magic shows, live caricature drawing and drawing/painting competitions for children etc. on the themes of taxation and nation-building for the present and future taxpayers visiting the Trade Fair.

The Income Tax Department has also clarified that “The lounge will also be utilized for obtaining feedback about the problems being faced by the taxpayers. The lounge is, therefore, not only a focused outreach program but also a platform for exhibiting the service-oriented approach of the Department.”

However, taxpayers should be aware that during interactions in the Taxpayers’ Lounge, all COVID standards will be maintained strictly.

Story first published: Tuesday, November 16, 2021, 14:22 [IST]



[ad_2]

CLICK HERE TO APPLY

This Mid Cap Forgings Company Has A Buy Call By HDFC Securities For 23% Gains

[ad_1]

Read More/Less


Q2FY22 financials:

Q2 revenue, at Rs16 billion, was up a healthy 82% YoY,

17% QoQ, as shipment tonnage came in at 57k (+40% YoY, 4% QoQ). Exports contribution was higher at 59% of sales vs 52% YoY. Despite firm steel prices, the EBIDTA margin came as a positive price at 30.2 percent, increasing 170 bps QoQ.

Key highlights:

Key highlights:

(1) Chip shortage slated to impact exports in the next quarter:

There is abundant backlog of Class 8 trucks, nonetheless exports shall be weak owing to chip scarcity that would likely be met in CY22E.

(2) Revenue from oil and gas segment saw a quarterly growth:

The oil & gas segment revenue ramped up further to Rs. 2 billion (vs. Rs. 1.7bn in Q1FY22). There is a view that increased focus on natural gas would benefit Bharat Forge in the medium term.

(2) Defense segment:

In the defense sector, the company’s focus remains on artillery guns, armoured vehicles, and mounted guns. The company has received orders for the vehicles and in respect of the Garuda 155 mm gun and the mounted guns- these are in advanced stage of development. The company targets to mop up 10 percent of revenue from the sector in the next 2 years.

(4) DFC to impact domestic CV segment: Management stated that commissioning of

DFC is impacting medium-term demand for MHCVs in India. This is partially offset by higher demand for ICVs due to ecommerce-led demand.

Key triggers for future price performance of Bharat Forge:

Key triggers for future price performance of Bharat Forge:

(1) Recovery in India infra spends

(2) Passing of the USD 500bn+ trillion

infra spend bill, which will increase demand for heavy equipment such as construction equipment, trucks, etc.

(3) Rramp-up in India defense – targeted to reach 10% of turnover in the next two years.

Valuations: “We reiterate Bharat Forge as our

preferred pick in CVs due to its global OEM base. We maintain BUY with a TP of INR 1,000 on 35x Sep-23 EPS (we roll forward our TP timeframe to Sep)”, says the brokerage.

Disclaimer:

Disclaimer:

The stock is picked from the brokerage report of HDFC Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

This Stock To ‘Buy’ For 14.7% Upside, In 12 Months: HDFC Securities

[ad_1]

Read More/Less


Target Price

The Current Market Price (CMP) of Dilip Buildcon is Rs. 629. The brokerage firm has estimated a Target Price for the stock at Rs. 722. Hence the stock is expected to give a 14.7% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 629
Target Price Rs. 722
1 year return 14.70%

Company performance

Company performance

Dilip Buildcon reported a revenue of Rs. 21.5bn (+12%/0% YoY/QoQ, 28% miss); while its EBITDA margin stood at 10.6%, contracted sharply, on account of under-absorption of fixed overheads and elevated raw material prices. HDFC states, “NHAI restriction on bidding lifted; OI of Rs. 80-100bn in FY22: The order book (OB), as of Sep-21, stood at Rs. 231bn, with Rs. 80-100bn expected in FY22. 47.15% of the OB is now road projects and this is likely to increase, following the lifting of restriction from bidding NHAI projects.”

Comments by HDFC Securities

Comments by HDFC Securities

The company has shown weak financial performances, and missed estimates. The company had faced slow execution in large projects. According to HDFC, “High commodity price volatility has led to price escalation coverage reducing to 50-60% in EPC projects and 40% in EPC HAM. We maintain BUY, however, given the margin pressure and cut our EPS along with TP to Rs. 722/sh.”

About the company

About the company

As one of the fastest-growing Engineering, Procurement, and Construction (EPC) company in India, DBL is aligning with India’s infra-growth vision. According to the company, “DBL’s success is enabled by its powerful execution capability, a proprietary fleet of 12,903 machinery and vehicles and its 37,793 employees using cutting edge technology and innovation, such as Drone Monitoring, GPS Monitoring and Safety Management.”

Disclaimer

Disclaimer

The above stock has been picked from the brokerage report of HDFC Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

RBI, BFSI News, ET BFSI

[ad_1]

Read More/Less


Emission commitments pose medium-term risks to BRICS (Brazil, Russia, India, China & South Africa) nations and could engender energy shortages, technology gaps and thus pose risks to medium-term growth and inflation, RBI deputy governor Michael Patra has said.

The comment comes at a time when India has been under pressure globally to reduce dependency on coal-fired power plants and cut emissions. Patra said this in his keynote address in the conference on ‘Growth and development in the BRICS economies’ organised by the Delhi School of Economics (DSE) and Indian Statistical Institute (ISI), which was released by the RBI on Monday.

“Medium-term challenges for the BRICS arise in the context of climate risks and emission commitments, which may engender energy shortages, technology gaps and hence pose risks to medium-term growth and inflation, especially for countries with large total emissions,” said Patra. He added that the immediate challenge was from elevated commodity prices for net importers like India, although they confer terms of trade gains for net exporters like Brazil and Russia. “For all the BRICS, rising food prices on account of natural calamities and demandsupply imbalances caused by the pandemic involve elevated inflation risks,” said Patra.

Follow and connect with us on , Facebook, Linkedin



[ad_2]

CLICK HERE TO APPLY

‘Buy’ This Stock For 17% Return, In 1 Year: ICICI Securities Recommends

[ad_1]

Read More/Less


Target Price

The Current Market Price (CMP) of Tech Mahindra is Rs. 1585. The brokerage firm has estimated a Target Price for the stock at Rs. 1860. Hence the stock is expected to give a 17% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 1585
Target Price Rs. 1860
1 year return 17.00%

Company performance

Company performance

Tech Mahindra is experiencing firm traction in the Health care and Life Science (HLS) vertical, which is on its way to reaching US$1bn revenues in two to three years from the current annual run rate of ~US$400 mn. ICICI comments, the company’s “BFSI is trending towards US$1 bn revenue in FY22 and US$1.5 bn revenue in next 2 to 3 years from ~US$850 mn currently.” The communication vertical, continued to be its key growth driver, led by 5G for telcos while 5G for enterprises would take some to pick up. 5G for business is a large opportunity of US$712 bn.

Comments by ICICI Securities

Comments by ICICI Securities

According to ICICI Securities, “Tech Mahindra’s share price has grown by ~4.2x over the past 5 years. We remain positive on the stock and maintain BUY rating.”

About the company

About the company

Tech Mahindra has over 1.2 lakh employees across 90 countries serving 1000+ clients with higher exposure to telecom, which generates 40% of their revenues. Apart from telecom Tech Mahindra caters to BFSI, manufacturing & retail. The company’s dollar revenue CAGR grew at 5.6% over the last 5 years.

Disclaimer

Disclaimer

The above stock has been picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

1 Auto Ancillaries And 1 Pharma Stock to Buy As Suggested By ICICI Securities

[ad_1]

Read More/Less


NRB Bearings

NRB Bearings gets an add call from ICICI Securities with a target price of Rs 175. The current market price is Rs 139, with an upside potential of 24%.

Q2FY22 Results

  • NRB had a good second quarter of fiscal year 22.
  • Revenue for the quarter was Rs 256.6 crore, up 29.8% year over year and 27.4% quarter over quarter.
  • EBIDTA was 47.3 crore, increasing 55.8% year on year and 76.9% quarter on quarter.
  • PAT of Rs 24.4 crore, up 113.8 percent year on year.

Target and Valuation

“NRB has been making strides towards innovation and R&D. Going ahead, a recovery in auto, & boost in e vehicles sales will help it to grow. We maintain our BUY rating. We build in revenue, EBIDTA, PAT CAGR of 18.6%, 22.2%, 25.2% respectively. Target Price and Valuation: We value NRB at Rs 175 i.e. 18x P/E on FY23E EPS,” the brokerage has said.

Key triggers for future price-performance:

Manufacturing should benefit from the auto sector’s recovery. NRB is also concentrating on research and development to meet the needs of the e-vehicle market.

A new e-market is set to launch, with the goal of increasing reach and market share while reducing counterfeit goods.

Glenmark Pharmaceuticals

Glenmark Pharmaceuticals

Glenmark Pharmaceuticals gets an add call from ICICI Securities with a target price of Rs 607. Glenmark Pharmaceuticals’ current market price is Rs 522.4.

Key concall highlights:

ICHNOS is expected to raise funds in FY23E.

2) Revenue CAGR of 10- 15 percent over 4-5 years, with a 19 percent margin

3) In FY22E, the company expects to submit 18-20 ANDAs.

4) Respiratory launches in the United States will begin in FY24E.

5) The PDUFA deadline for Ryaltris is January 22nd.

6) Annual capex guidance of Rs6.5-7 billion for the next 2-3 years.

Outlook and Valuation

Over FY21-FY23E, we expect revenue and PAT CAGRs of 9.6% and 8.2%, respectively, with a consistent EBITDA margin of 18-19%. The IPO of the API subsidiary was a success, and the majority of the revenues were used to pay off debt.

In FY22, out-licensing of new items will offer extra funds to enable the company meet its debt reduction target of Rs16 billion in FY22E.

“We remain positive on stock given strong India business and attractive valuation of 14.2xFY23E earnings. Reiterate ADD on the stock with a revised target price of Rs607/share based on 16xFY23E earnings,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

Buy Praj Industries Ltd With A Target Price of Rs 472 Says Axis Securities

[ad_1]

Read More/Less


Q2 FY22 results of the company

According to the consolidated performance for Q2 FY22, the company’s income from operations stood at Rs. 532.41 crore (Q1 FY22: Rs. 386.26 crore; Q2 FY21: Rs. 260.24 crore), PBT is at Rs. 46.77 crore for the period (Q1 FY22: Rs. 29.80 crore; Q2 FY21: Rs. 15.67 crore), PAT is at Rs. 33.34 crore (Q1 FY22: Rs. 22.20 crore; Q2 FY21: Rs. 11.39) and order intake during the quarter Rs. 745 crore (Q1 FY22: Rs. 661 crore; Q2 FY21: Rs. 405 crore).

According to the H1 FY22 – Consolidated results of the company, income from operations stood at Rs. 918.67 crore (H1 FY21: Rs. 389.79 crore), PBT is at Rs. 76.57 crore for the period (H1 FY21: Rs. 1.15 crore), PAT is at Rs. 55.54 crore (H1 FY21: Rs. 0.89 crore) and order intake Rs. 1406 crore (H1 FY21: Rs. 715 crore).

Buy Praj Industries Ltd with a target price of Rs 472

Buy Praj Industries Ltd with a target price of Rs 472

According to the brokerage “Praj is witnessing strong growth in its key segment BioEnergy in Domestic business, the overall demand-supply gap of Ethanol, increased interest in grain-based distilleries and decarbonisation impetus is auguring well for Praj along with development in other key verticals such as CPS, ZLD & High Purity gaining traction. Praj is a key beneficiary of multiple tailwinds provided by the bio-economic revolution, giving strong growth & revenue visibility for the next 3-5 years.”

Axis Securities has claimed in its research report that “We maintain our BUY with a revised target price of Rs 472 valuing the company at 35x (~20% discount to TTM PE of 45x) FY23 EPS, implying an upside of 33% from the CMP 355.”

Disclaimer

Disclaimer

The above stock is picked from the brokerage report of Axis Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

Are Peripheral Cities Scoring Above Big Cities In Terms Of Real Estate Investment?

[ad_1]

Read More/Less


Space Crunch

As per recently released CII-ANAROCK Consumer Survey, 41% respondent property seekers may buy a second home for personal use, 65% respondents who work from home will opt for bigger houses, 68% prefer peripheral/suburban areas. This clearly indicates that specially the category of end-users is open to remain remotely far from the hustles of urban city just so they can grab a bigger space. The metro cities are not only densely populated with residential and commercial structures but has land prices fairly higher for a first-time buyer. Conclusively, for this set of buyer/investors peripheral cities are emerging to be the ideal choice for investment due to immense space and proximity to metro city.

Scope of appreciation

Scope of appreciation

The peripheral locations when compared to the crowded urban cocoons offer a safe and long term investment plan. As the infrastructure surrounding the region develops overtime, and with scope of more land banks available there is chance of establishing bigger structures. Additionally, the rate of price appreciation gets better and better with time and each surrounding development.

As much as 58% of around 149,000 homes launched in 2020-21 are located in the peripheral areas of the top 7 property markets, showed data from Anarock research. The pandemic has had a significant impact in terms of project launches around this region. Since most of the properties in peripheral areas are in their primary stages of development, the lower price point not only makes it attractive but also makes the overall transaction a smart one. With homes shifting to peripheries, it is highly likely that large employers will occupy some space or open their smaller version of commercial centres/hubs to be in proximity for corporate professionals. The advent of such commercial spaces will be giving a major boost to the overall region’s stature and value.

Urban Layout & Architecture

Urban Layout & Architecture

The CII-ANAROCK Consumer Survey mentioned above also highlights that attractive pricing continues to rule the roost of must-haves, established developer credibility is the second-highest priority for 77% of the surveyed buyers. Project design and location also feature prominently on the wish list.

Location being the deal-maker/breaker for closing property transactions has gained a new nuance with peripheral cities coming into the picture. The newly developed areas are being equipped with elements of modern layout & architecture. This makes them an attractive proposition to consider not only for local but also global investors and NRI buyers. Post-pandemic with digitalization gaining better grounds in real estate homebuyers are keenly exploring the options in each category from property search to documentation and legal advice to down payments, each and every aspect is accessible via a single click.

Lastly, it is crystal clear that realtors with sufficient online presence will rule the roost going forward. Strong and strategized social media presence will be among the most effective technique in marketing your property on the right platforms.

Authored by Siddharth Maurya, Resource Specialist – Real Estate and Fund Management



[ad_2]

CLICK HERE TO APPLY

2 Intraday Cash Buy Stock Recommendations By Angel Broking

[ad_1]

Read More/Less


Investment

oi-Roshni Agarwal

|

For traders who want to make short term gains there is intra-day trading and involves buying and selling of a scrip within a trading session i.e. on the same day. This is engaged in via online trading platforms. Say if you buy 1000 units of ‘X’ stock which opened the session at a price of Rs. 500 and then in few hours climbs to Rs. 550 then you can make quick profit of Rs. 50,000 in a single day of trade.

2 Intraday Cash Buy Stock Recommendations By Angel Broking

2 Intraday Cash Buy Stock Recommendations By Angel Broking

So, for day traders Angel Broking recommends buying 2 scrips as below:

Intraday Cash Buy-Raymond: Angel Broking has recommended buying the scrip of Raymond for intra-day trade in the price range of Rs. 509.5-513.4 for a price target of Rs. 532. The brokerage firm has suggested to place a stop loss of Rs. 502.4. So if you buy the scrip at the upper end of the suggested price band you can make a profit of over 3 percent in a day.

Intraday Cash Buy-Tata Motors: Another Intra-day cash buy by the brokerage is Tata Motors at Rs. 516.6-518.6 with a price target of Rs. 535 and stop loss at Rs. 508. Likewise for Tata Motors, day trader can earn a return of over 3 percent.

GoodReturns.in

Story first published: Tuesday, November 16, 2021, 11:21 [IST]



[ad_2]

CLICK HERE TO APPLY

2 Stocks To Buy From ICICI Direct For A Decent Upside of 21% In 1 Year

[ad_1]

Read More/Less


Q2FY22 results of KNR Constructions Ltd

KNRCL is an ISO 9001:2000 Certified company that offers engineering, procurement, and construction services in a number of fast-growing sectors, including roads and highways, and irrigation. According to the brokerage the company has reported a 24.5% revenue CAGR over FY16-21 and has consistently delivered industry-leading operating margin of ~20% throughout the past three years.

The brokerage has said that KNR’s “Standalone revenue improved 25.7% YoY to Rs 755.6 crore, largely backed by its healthy order book position and pick-up in execution post second wave disruptions. On QoQ basis, topline improved by 2.1%. The company delivered industry leading EBITDA margin and was at 22.2% (up 154 bps YoY). Effectively, EBITDA at Rs 167.5 crore, was up 35.1% YoY and PAT improved 91.1% YoY to Rs 59.4 crore.”

Key triggers for future price performance of KNR Constructions Ltd according to the brokerage

Key triggers for future price performance of KNR Constructions Ltd according to the brokerage

  • KNR is likely to be one of the prime beneficiaries of thriving roads and water segments (Jal Jeevan Mission).
  • Strong order book position, receipt of appointed date in most of its projects, and execution pick-up to translate into 18.8% topline CAGR over FY21-23E.
  • Price escalation clause in roads agreement, and higher margins at irrigation projects likely to keep operating margin at an elevated level.
  • Asset-light strategy via monetisation to bring-in incremental cash flows.

Buy KNR Constructions Ltd with a target price of Rs 340

Buy KNR Constructions Ltd with a target price of Rs 340

The brokerage in its research report has claimed that “The company is a focused road based EPC player that enjoys a strong execution track record with the reputation of completing projects on time/ahead of the schedule. KNR also enjoys a very healthy balance sheet and a strong return ratio. With net debt free position at standalone levels (as of date), equity commitment is likely to be supported by internal cash generation, HAM monetisation and irrigation dues recovery and should not entail new debt at standalone levels. Hence, we maintain our BUY recommendation on the stock with a SoTP based revised target price of Rs 340/share. We value its core EPC business at Rs 317/share (20x FY23E P/E).”

Q2FY22 results of Ashok Leyland

Q2FY22 results of Ashok Leyland

Ashok Leyland, the Hinduja group’s cornerstone, is India’s second-largest commercial vehicle manufacturer, as well as the world’s fourth-largest bus manufacturer and 14th-largest truck manufacturer. According to the brokerage, the company’s “Standalone operating income came in at Rs 4,458 crore (up 51% QoQ). Total volumes for the quarter were at 27,543 units, up 53% sequentially with ASPs for the quarter coming in at Rs 16.2 lakh/unit, down 1.3% QoQ, M&HCV: LCV mix remained broadly unchanged QoQ at 50:50 and EBITDA for the quarter came in at Rs 135 crore with corresponding margins at 3.0%. Gross margin declined sharply 260 bps QoQ but operating leverage benefits limited the blended margin decline.”

According to the Q2FY22 results of Ashok Leyland the consequent reported loss after tax was at Rs 83 crore, says ICICI Direct.

Key triggers for future price performance of Ashok Leyland according to ICICI Direct

Key triggers for future price performance of Ashok Leyland according to ICICI Direct

  • Set to be an outsized beneficiary of impending M&HCV revival riding on government’s infra push and pick-up in core industrial activity (mining, construction, road building). LCV to continue to gain from last mile mobility.
  • Blended ASPs to rise amid exports push in line with the global top-10 vision.
  • We build 23% volume & 30% net sales CAGR over FY21-24E; margins seen rising to 10.5% levels by FY24E on the back of operating leverage benefits and cost, cash, CAPEX actions under Project Reset.

Buy Ashok Leyland with a target price of Rs 175

Buy Ashok Leyland with a target price of Rs 175

The brokerage has said, “ALL’s share price has grown at ~13% CAGR in last five years (from ~Rs 80 levels in November 2016), outperforming Nifty Auto index.”

The company’s “board approved the sale of EV business to its subsidiary i.e. Switch Mobility on a slump sale basis & transfer of e-MaaS (E-Mobility as A Service) business to Ohm Global Mobility Pvt Ltd, India, on slump sale basis, to be eventually housed under switch mobility with a majority stake” says ICICI Direct.

ICICI Direct has claimed in its research report that “We retain BUY rating given CV revival play & structural margin tailwinds. We value ALL at revised SOTP based target price of Rs 175 (15x CV FY23-24E avg. EV/EBITDA, 3x P/BV for investments; earlier TP Rs 160).”

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

1 27 28 29 30 31 387