Saturday, 27 May 2017

Construction of the worlds largest telescope begins in Chilean desert


Chilean President Michelle Bachelet inaugurated the development of the sector s largest optical and infrared telescope to be located at the Paranal Observatory in the Antofagasta vicinity. Here within the Atacama Desert one of the maximum symbolic locations of the nation and the driest place within the world we're doing more than construct a telescope we are witnessing one of the best examples of what technological know-how and generation can gain President Bachelet stated on Friday. The European Extremely Large Telescope (E-ELT) will be built in collaboration with the European Southern Observatory (ESO) the leading intergovernmental astronomic organization in Germany Efe information said. Antofagasta has the capacity to be one of the scientific centres of Latin America Chile is a rustic acknowledged for its tremendous clinical network https://fashionladkicom5.wixsite.com/mehndidesigns and for the importance of its discoveries the President stated. The E-ELT on the crest of the Cerro Armazones mountain peak at an altitude of three 046 metres can have a number one replicate 39 metres huge so that it will permit astronomers to take on clinical challenges just like the discovery of exoplanets similar to Earth and the statement of the primary stars and galaxies so that you can discover our origins. ESO is any other example of what may be done thru worldwide cooperation Bachelet stated. Accompanied via individuals of her authorities Bachelet wrapped up her visit to Antofagasta in which besides witnessing the begin of the E-ELT works she inaugurated the Kelar electricity plant  the most important constructed in Chile in the ultimate 10 years. Publish date: May 27 2017 11:forty two Modified date: May 27 2017 1:39 pm Tags: Antofagasta Atacama Desert Cerro Armazones European Extremely Large Telescope European Southern Observatory Michelle Bachelet Paranal Observatory telescope Having didn't secure Champions League football for subsequent season Arsenal may be getting ready for a summer time of speculation surrounding their pinnacle gamers.The likes of  Alexis Sanchez and Mesut Ozil have already been linked with movements away from the Emirates in the wake of this season s https://photoshopcreative.co.uk/user/fashionladki failings with the Chilean winger in specially excessive call for. Keeping Sanchez looks as if a tall order and any optimism in preserving their celebrity man may additionally have been dented by means of Chile s squad statement for the Confederations Cup. Forward Alexis Sanchez could be heading for the exit door on the Emirates the summer time Chile reportedly named Sanchez s membership as Bayern Munich on their squad declaration The mistake became quickly altered and a brand new squad issued with the best team installed placeSanchez will now play in a summer season match for the fourth consecutive season some thing this is certain to irk Arsene Wenger. But what may additionally trouble him too is the authentic teamsheet tweeted by way of the Chilean FA.According to Squawka the unique group published on Twitter listed Sanchez s club as Bayern Munich.The South American side have been brief to amend the mistake however it did no longer pass left out and could only serve to add gasoline to the hearth over rumours of a move for Sanchez this summer season. Whether it become mischief or a actual mistake at least one member of the Chile group has been trying to steer Sanchez to make the transfer from Premier League to the Bundesliga. Sanchez will be representing Chile in a match for the fourth consecutive summerCurrent Bayern Munich midfielder Arturo Vidal has been urging his facet to drag out all the stops to land the forward saying: He wishes to play for a large club like us. The membership s leader govt Karl-Heinze Rummenigge has found out that boss Carlo Ancelotti has already finalised his list of summer season goals with Sanchez thought to be on it.The Chilean will first have to show his attentions to the FA Cup final on Saturday. The 28-yr-antique is about to begin at Wembley in opposition to Chelsea as Arsenal look to lift the trophy for the third time in four years. RELATED ARTICLES Previous http://en.clubcooee.com/users/view/fashionladki 1 Next Arsenal boss Arsene Wenger left with selection headache... Transfer information LIVE: Latest from Manchester United Arsenal ... Bayern Munich coach Carlo Ancelotti has drawn up listing of... Arsenal ahead Alexis Sanchez given glimpse into the future... Share this article Share 2.2k sharesMumbai: State-run Hindustan Petroleum Corporation Ltd (HPCL) has published a 31% increase in fourth-sector net profit beating Street expectancies. Net profit rose to Rs 1 819 crore inside the region ended March 31 from Rs 1 388 crore at some stage in year-in advance zone on sturdy increase in sales the oil marketing business enterprise stated in a press statement.A Bloomberg ballot of 25 brokers had anticipated internet profit at Rs 1 173.60 crore whilst internet sales have been estimated at Rs fifty one 228.Eighty crore with the aid of 23 brokers.HPCL s stock closed eleven.Forty three% better at Rs 567.Forty five on the BSE whilst the benchmark Sensex ended at 31028.21 factors up 0.Ninety%. Revenue rose 21.7% to Rs fifty nine 183.Forty nine crore from Rs 48 625.27 a 12 months earlier. Gross refining margin or realisation on every barrel of crude processed through the company for its Vishakhapatnam and Mumbai refineries become 7.99 in step with barrel inside the fourth sector up from 7.Fifty one in keeping with barrel a year earlier.Operating profit or profits before interest tax depreciation and amortisation (Ebitda) fell marginally to Rs 2 886 crore from Rs 2 803 crore in the yr-in the past sector. The business enterprise s board accredited an advantage difficulty of one:2 implying that an investor will obtain one proportion for each held.For the yr 2016-17 HPCL has proposed a final dividend of Rs. 1.10 in step with proportion. Kalpana PathakTopics: HPCL gross refining margins net income earnings revenue New Delhi: Hindustan Petroleum s (HPCL) fourth-zone income jumped 31% helped by means of inventory gain and better sales. HPCL suggested a income of Rs 1 819 crore for the Jan-March region in comparison to Rs 1 388 crore inside the yr-ago length. Revenue rose 22% to Rs fifty eight 668 crore. Higher refinery throughput sales and efficiency mixed with stock benefit boosted the income Chairman M K Surana said. The enterprise recorded an stock benefit of Rs 743 crore inside the fourth zone in opposition to a advantage of Rs 37 crore in the year-ago length. The gross refining margin for the quarter turned into 7.Ninety nine/barrel up from 7.51/barrel in the year-ago duration. The board of HPCL has proposed bonus difficulty of 1 fairness proportion of Rs 10 every for 2 fairness shares of Rs 10 every held. For the year 2016-17 the board has proposed a very last dividend of Rs 1.10 according to proportion. These proposals will want shareholders approval. Oil fundamental Oil and Natural Gas Corporation (ONGC) on Friday mentioned 6.14 according to cent fall in net profit at Rs 4 340.18 crore for the zone ended March 31 2017. It had published a net income of Rs 4624.30 crore within the corresponding quarter remaining yr. ETNow Poll had predicted a internet earnings of Rs 4847 crore for the quarter underneath review. Total income of ONGC jumped 29.24 consistent with cent on a yr-on-yr basis to Rs 26 233.56 crore in Q4FY17 over Rs 20 297.Eighty three crore in Q4FY16. For January-March duration the organisation stated forty seven.59 in step with cent boom in total expenditure at Rs 20 696.Forty six crore towards Rs 14022.15 crore within the same length closing yr. The agency introduced its economic effects submit market hours. Share price of ONGC settled zero.Ninety five per cent up at Rs 175.80. The board of has also encouraged a final dividend of Rs zero.80 in line with fairness percentage of Rs 5 every for the financial 12 months 2016-17. State-owned explorer Oil and Natural Gas Corp. (ONGC) on Friday stated its internet profit declined 6% to Rs4 340 crore inside the January-March sector from a 12 months ago. Income from operations grew 34% to Rs21 714 crore but value of materials used and worker advantages multiplied general expenditure ensuing within the decline in net profit the business enterprise stated in a filing to inventory exchanges. The board of administrators of the organization endorsed a final dividend of 80 paise according to proportion of Rs5 every similarly to the meantime dividend of Rs6.Seventy five a share.ONGC had suggested a net earnings of Rs4 624 crore in the fourth quarter of 2015-16. For the entire 12 months 2016-17 net earnings jumped eleven% to Rs17 900 crore whilst income from operations inched up marginally by using zero.2% to 17 900 crore. ONGC is within the system of making big investments into exploration in addition to in monetising hydrocarbon discoveries already made because the government has set a target of reducing import dependence of fossil fuels by means of 10 percentage factor by means of 2022 to 67% from 2015 degrees. In the fourth zone of 2016-17 ONGC made a net realization of 54.91 a barrel of crude oil from nominated fields as compared to 34.88 it realized within the identical duration a yr ago. The organisation made 23 discoveries in 2016-17 in opposition to 17 discoveries it made a year ago. Of the 23 discoveries 13 are on land even as 10 are offshoreGireesh Chandra PrasadTopics: ONGC ONGC consequences Q4 outcomes ONGC sales crude oil NEW DELHI: Diversified firm ITC on Friday pronounced a 12.13 per cent boom in standalone net earnings to Rs 2 669.Forty seven crore for the fourth area of 2016-17 driven through sales increase in agri commodities branded packaged meals and personal care merchandise businesses. The business enterprise had published a net income of Rs 2 380.68 crore for the January-March area of last financial ITC stated in a BSE submitting. ITC s internet sales at some stage in the length under evaluation became up 6.15 consistent with cent to Rs 15 008.Eighty two crore as towards Rs 14 138.Seventy eight crore for the corresponding area remaining fiscal. The enterprise said that it made modest restoration in increase amidst overhang of liquidity squeeze and persistent weak spot in the wholesale channel and rural markets. The Kolkata-founded employer s general charges rose 5.29 in step with cent to Rs 11 363.Seventy eight crore as against Rs 10 792.Forty eight crore inside the fourth sector of 2015-sixteen. Overall revenue increase driven through agri commodities branded packaged foods corporations personal care merchandise business offset via ongoing pipeline calibration inside the training and stationery product business and decrease purchaser offtake and heavy discounting in apparel it stated. Revenue from the whole FMCG enterprise which include cigarettes increased 5.19 according to cent to Rs eleven 840.70 crore from Rs eleven 256.24 crore in the corresponding region a 12 months ago. During the quarter sales from cigarettes multiplied four.Seventy nine per cent to Rs eight 954.Ninety four crore from Rs 8 545.Forty six crore inside the yr-ago period. Revenue from FMCG-Others section changed into up 6.45 per cent to Rs 2 885.Seventy six crore in the course of the January-March sector as towards Rs 2 710.Seventy eight crore in the 12 months-in the past duration. Sharp hike in enter prices gestation charges of recent classes (juices dairy goodies espresso) and heavy discounting in garb impacted FMCG-Others segment effects the agency stated. FMCG-Others includes branded packaged food consisting of staples snacks dairy drinks and confectionery. This phase also consists of clothing schooling and stationery merchandise personal care products fits and agarbattis. ITC s revenue from motel enterprise was up 6.Forty eight per cent to Rs 386.52 crore in the course of the quarter as towards Rs 362.Ninety nine crore within the corresponding duration last economic. Contribution from agri commercial enterprise turned into also up 6.18 per cent to Rs 1 918.49 crore as against Rs 1 806.Seventy nine crore inside the corresponding sector. The paperboards paper and packaging segment revenue became up four.38 per cent in Q4/FY 2016-17 to Rs 1 372.Seventy three crore as against Rs 1 315.03 crore. For the economic 12 months ended March 31 2017 ITC had reported a consolidated net earnings of Rs 10 477.23 crore up 10.27 in line with cent as in opposition to Rs 9 500.86 crore of a yr ago. Net sales turned into up 6.66 in line with cent to fifty eight 731.52 crore in FY 2016-17 as towards Rs 55 061.08 crore a 12 months in the past. This became basically pushed through a eight in keeping with cent boom inside the non-cigarette FMCG phase 10.Eight per cent boom in agri commercial enterprise and 5.1 in keeping with cent growth within the cigarettes segment it introduced. In FY 2017 ITC s revenue from from general FMCG enterprise including cigarettes become up five.Ninety three in step with cent to Rs forty six 415.12 crore as in opposition to Rs forty three 813.31 crore of the corresponding sector. The FMCG industry witnessed in addition deceleration in increase price at some point of the year with demand conditions ultimate subdued for the fourth successive yr the agency stated. It in addition said: The a lot predicted pick-up in intake expenditure at the returned of good monsoons in 2016 low inflation and implementation of the hints of the seventh Pay Commission did now not play out fully. Meanwhile in a separate filing ITC knowledgeable BSE that its board at a assembly held nowadays advocated dividend of Rs 4.Seventy five in step with ordinary share of Re 1 every for FY 2016-17 situation to approval from shareholders. Shares of ITC today settled at Rs 308.Sixty five on BSE up 2.Ninety nine in step with cent from previous near. NEW DELHI: State-owned NBCC India nowadays pronounced 39 in line with cent increase in its consolidated net earnings at Rs 173.87 crore for the quarter ended March on better income. Its net earnings stood at Rs a hundred twenty five.12 crore in the year-in the past length the enterprise said in a regulatory filing. Total profits rose to Rs 2 377 crore inside the fourth zone of this fiscal from Rs 2 326 crore inside the corresponding length of the previous year. During the whole 2016-17 financial the enterprise s internet profit rose to Rs 354.51 crore from Rs 289.28 crore within the preceding yr. Total income went as much as Rs 6 400.Seventy three crore in the final economic from Rs 5 926.24 crore in the 2015-16 monetary. NBCC (India) Ltd knowledgeable that the board has advocated a final dividend of Rs 1.10 per paid up equity percentage of Rs 2 every (i.E. 55 per cent) for the financial yr 2016-17.Cigarettes and consumer goods maker ITC Ltd reported a 12.1% increase in fourth-quarter net profit on Friday helped by excise duty savings and a modest recovery in consumption after severe disruption in the December quarter due to demonetization. Net profit jumped to Rs2 669.47 crore or Rs2.19 per share in the March quarter from Rs2 380.68 crore or Rs 1.96 per share a year earlier helped by savings of nearly Rs500 crore in excise duty. Gross revenue grew 6.1% to Rs15 410.92 crore in the quarter from Rs14 510.01 crore a year earlier despite persistent weakness in the wholesale channel and rural markets the company said in a statement.ITC s shares rose to hit a 52-week intraday high of  http://fashionladki.wikidot.com/system:welcome Rs313.40 each before closing 3% higher at Rs308.65 on BSE while the Sensex gained 0.9% to close at 31 028.21 points.Excise duty payout for the March quarter was at Rs3 883.28 crore compared with Rs4 382.08 crore a year ago a decline of 11.3%.ITC s earnings were in line with analyst expectations.Broking firms such as HDFC Securities Ltd Credit Suisse India Pvt. Ltd Kotak Securities Ltd Edelweiss Securities Ltd and Motilal Oswal Securities Ltd had in separate research reports said ITC was expected to report a net profit of Rs2 578-2 816 crore for the March quarter.ICICI Securities said in a report on Friday that ITC s operating profit margin for the March quarter remained flat and that it was around 125 basis points lower than its estimates. A basis point is 0.01%.The decline in excise duty payout possibly indicates that a substantial section of smokers had switched to 64mm cigarettes which attract lower excise duty said ICICI Securities.ITC said it beat sluggish demand to register a 6.6% growth in gross revenue and a 9.4% growth in net profit for the full year. Gross revenue for fiscal year 2017 jumped to Rs57 434.37 crore from Rs53 713.83 crore a year ago. Net profit for the full year was at Rs10 200.9 crore or Rs8.38 per share compared with Rs9 328.37 crore or Rs 7.70 last year. The board has recommended a dividend of Rs4.75 per ordinary share of Re1 each for the fiscal year year ended 31 March 2017.Revenue from cigarettes at Rs8 954.94 crore was up 4.8% year-on-year but pre-tax profit from the segment at Rs3 258.76 crore jumped 7.95% as operating profit margin expanded by 107 basis points to 36.39%. The cigarette business was hurt by a steep increase in taxation intense regulatory pressures and tight liquidity conditions in the wholesale channel ITC said in a statement.Revenue from other consumer goods at Rs2 885.76 crore was up 6.4% year-on-year but pre-tax profit from the segment plummeted 29.3% from the previous year to Rs55.56 crore. ITC said a sharp increase in input costs gestation cost of new launches such as juices dairy products and coffee and heavy discounting in branded apparel impacted earnings from the segment.March quarter pre-tax profit from ITC s hotels division jumped 56.9% year-on-year to Rs66.93 crore even as revenue grew only 6.4% to Rs386.52 crore. The company said it witnessed signs of a turnaround in the second half of the year but the recovery was hobbled by collateral impact on the economy on account currency crunch .Full-year revenue from the hotels business grew 4.3% to Rs1 341.73 crore thanks to improvement in average room rate and higher sales of food and beverages. Pre-tax profit for the full year at Rs110.95 crore was almost twice as much as the firm earned from the segment last year.March quarter revenue from agricultural commodity sales rose 6.1% year-on-year to Rs1 918.49 crore but pre-tax profit from the segment fell to Rs134.92 crore from Rs170.32 crore a year ago. The company said earnings were impacted by a decline in leaf tobacco exports from India to an eight-year low of 200 million kg.The paperboards paper and packaging segment turned in a pre-tax profit of Rs240.17 crore in the quarter till 31 March up 18.33% year-on-year while revenue grew 4.3% to Rs1 372.73 crore. ITC said the segment was impacted by sluggish demand for consumer goods and cigarettes and cheap imports from China.Soumonty KanungoTopics: ITC Profit Fourth Quarter Results ITC Q4 Results 2017 NEW DELHI: ITC on Friday reported a 12.13 per cent year-on-year jump in standalone net profit at Rs 2 669.47 crore for the March quarter which was largely in line with Rs 2 685 crore estimated by analysts in an ET Now poll. The cigarette maker reported a net profit of Rs 2 380.68 crore in the corresponding quarter last year. Revenue for the quarter jumped to Rs 15 008 crore up 4.80 per cent YoY over Rs 14 318.78 crore reported in the same quarter last year. The company s cigarette and other FMCG products reported revenue of Rs 11 840 crore for the quarter compared with Rs 11 256.24 crore-revenue in the year-ago quarter. The company s other businesses such as hotels (Rs 387 crore) agri business (Rs 1 918 crore) paperboards and packaging (Rs 1 372.73 crore) too reported growth for the quarter. The board of ITC has recommended a dividend of Rs 4.75 per ordinary shares of face value Rs 1 each. NEW DELHI: Diversified firm ITC on Friday reported a 12.13 per cent increase in standalone net profit to Rs 2 669.47 crore for the fourth quarter of 2016-17 driven by revenue growth in agri commodities branded packaged foods and personal care products businesses. The company had posted a net profit of Rs 2 380.68 crore for the January-March quarter of last fiscal ITC said in a BSE filing. ITC s net sales during the period under review was up 6.15 per cent to Rs 15 008.82 crore as against Rs 14 138.78 crore for the corresponding quarter last fiscal. The company said that it made modest recovery in growth amidst overhang of liquidity squeeze and persistent weakness in the wholesale channel and rural markets. The Kolkata-headquartered company s total expenses rose 5.29 per cent to Rs 11 363.78 crore as against Rs 10 792.48 crore in the fourth quarter of 2015-16. Overall revenue growth driven by agri commodities branded packaged foods businesses personal care products business offset by ongoing pipeline calibration in the education and stationery product business and lower consumer offtake and heavy discounting in apparel it said. Revenue from the total FMCG business including cigarettes increased 5.19 per cent to Rs 11 840.70 crore from Rs 11 256.24 crore in the corresponding quarter a year ago. During the quarter revenue from cigarettes increased 4.79 per cent to Rs 8 954.94 crore from Rs 8 545.46 crore in the year-ago period. Revenue from FMCG-Others segment was up 6.45 per cent to Rs 2 885.76 crore during the January-March quarter as against Rs 2 710.78 crore in the year-ago period. Sharp hike in input prices gestation costs of new categories (juices dairy chocolates coffee) and heavy discounting in apparel impacted FMCG-Others segment results the company said. FMCG-Others includes branded packaged food such as staples snacks dairy beverages and confectionery. This segment also includes apparel education and stationery products personal care products matches and agarbattis. ITC s revenue from hotel business was up 6.48 per cent to Rs 386.52 crore during the quarter as against Rs 362.99 crore in the corresponding period last fiscal. Contribution from agri business was also up 6.18 per cent to Rs 1 918.49 crore as against Rs 1 806.79 crore in the corresponding quarter. The paperboards paper and packaging segment revenue was up 4.38 per cent in Q4/FY 2016-17 to Rs 1 372.73 crore as against Rs 1 315.03 crore. For the financial year ended March 31 2017 ITC had reported a consolidated net profit of Rs 10 477.23 crore up 10.27 per cent as against Rs 9 500.86 crore of a year ago. Net sales was up 6.66 per cent to 58 731.52 crore in FY 2016-17 as against Rs 55 061.08 crore a year ago. This was primarily driven by a 8 per cent growth in the non-cigarette FMCG segment 10.8 per cent growth in agri business and 5.1 per cent growth in the cigarettes segment it added. In FY 2017 ITC s revenue from from total FMCG business including cigarettes was up 5.93 per cent to Rs 46 415.12 crore as against Rs 43 813.31 crore of the corresponding quarter. The FMCG industry witnessed further deceleration in growth rate during the year with demand conditions remaining subdued for the fourth successive year the company said. It further said: The much anticipated pick-up in consumption expenditure on the back of good monsoons in 2016 low inflation and implementation of the recommendations of the 7th Pay Commission did not play out fully. Meanwhile in a separate filing ITC informed BSE that its board at a meeting held today recommended dividend of Rs 4.75 per ordinary share of Re 1 each for FY 2016-17 subject to approval from shareholders. Shares of ITC today settled at Rs 308.65 on BSE up 2.99 per cent from previous close. Expansion in the operating profit margin of the cigarettes business was a key positive in ITC s results for the March quarter (Q4) and so were flat volumes given that analysts were expecting a decline in the latter. While price hikes in the Classic Gold Flake and Navy Cut brands helped cigarette revenues rise five per cent margins in the business expanded 107 basis points year-on-year (y-o-y) to 36.4 per cent; sequentially these were lower by 20 basis points. The performance of the hotels and paper businesses were also worth a mention. 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Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital Note : Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital. LOGIN Already registered ? The domestic equity market snapped a two-day losing streak on Thursday with shares of Lupin Tata Motors ICICI Bank and TCS among most active stocks in terms of traded value. Shares of Lupin (Rs 565.26 crore) Tata Motors (Rs 380.33 crore) ICICI Bank (Rs 379.70 crore) TCS (Rs 300.58 crore) HDFC (Rs 294.36 crore) RIL (Rs 263.24 crore) ITC (Rs 206.97 crore) Larsen & Toubro (Rs 200.50 crore) SBI (Rs 194.57 crore) YES Bank (Rs 188.63 crore) Sun Pharma (Rs 186.26 crore) Vedanta Ltd (Rs 137.14 crore) Tata Steel (Rs 123.06 crore) Aurobindo Pharma (Rs 115.78 crore) HDFC Bank (Rs 110.76 crore) Axis Bank (Rs 108.76 crore) GAIL (Rs 108.14 crore) DLF (Rs 107.73 crore) Infosys (Rs 106.42 crore) and Adani Ports SEZ (Rs 102.88 crore) were among the most active stocks in terms of value on NSE at around 1 pm (IST). The NSE Nifty was trading 51.75 points up at 9412.30 at around the same time. In the Nifty 50 index Lupin (down 9.34 per cent) Sun Pharma (down 3.19 per cent) Dr Reddy s Labs (down 3.00 per cent) Cipla (down 2.53 per cent) Aurobindo Pharma (down 1.29 per cent) PowerGrid (down 0.95 per cent) Hero MotoCorp (down 0.93 per cent) Tata Steel (down 0.59 per cent) Zee Ent. (down 0.49 per cent) ITC (down 0.37 per cent) and Adani Ports SEZ (down 0.32 per cent) were among the top losers. On the other hand Larsen & Toubro (up 3.77 per cent) GAIL (up 2.20 per cent) ICICI Bank (up 2.09 per cent) Tata Motors (up 2.04 per cent) ACC (up 1.93 per cent) Tech Mahindra (up 1.87 per cent) Infosys (up 1.78 per cent) TCS (up 1.72 per cent) Ambuja Cements (up 1.66 per cent) YES Bank (up 1.42 per cent) and Indiabulls Housing Finance (up 1.39 per cent) were among the top gainers. Most Active stocks in terms of value help investors to identify the stocks with highest trading turnover during the day. Shares of Electrotherm Weizmann Forex Kesar Enterprises Lakshmi Finance Emmbi Industries Shakti Pumps ICICI Bank TVS Motor Voltas Hindustan Unilever Transport Corp and Patel Integrat touched their fresh 52-week high. On the other hand Sintex Industries Videocon Industries Northgate Communications Lupin Kaushalya Infra Mahamaya Steel Green Fire Agri MBL Infra Shilpi Cable Tec and Dr Reddy s Labs hit their new 52-week low levels. ET Intelligence Group: ITC shares hit a record high of 304.9 on Monday gaining 6.2 per cent its single largest gain in 14 months. With this rise the ITC stock has become the best performing and most expensive stock among the top 10 global tobacco companies this year so far. It is trading at a trailing price-to -earnings multiple of 36.8 the most expensive among its global peers. With the actual GST rates on cigarettes coming in lower than expected as well as raising a hope that the final rates may lead to lower taxation than at present the Street found the much-needed reason to send the stock soaring. The valuation gap existing between the FMCG bellwether HUL and ITC is another reason prompting such bullishness on the Street. Around three years ago ITC trounced Hindustan Unilever (HUL) to become the largest FMCG company in terms of market capitalisation but the stock is still trading at 30 per cent discount http://www.divephotoguide.com/user/mehndidesignsf  to the price-to-earnings valuations commanded by HUL. Analysts at IIFL Institutional Equities expect the tax incidence to come down. In its note on ITC they have held that according to their interpretation all elements of tax under GST would be applied on net sales and the total tax incidence could be lower by around 7 per cent. This could result in a fall in retail price of cigarettes due to a fall in taxes resulting in a pick-up in volume growth as affordability increases without reducing net realisations. Now with uncertainties on the tax front addressed and a possibility of lower tax incidence the gap in valuations seem to be unjustified especially since the BAT stock trades at 19 per cent discount to that of Unilever s on the London Stock Exchange.

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