OPINION, P8 COMPANIES, P5 ASSET SALE Huge holes in WEF, Oxfam etc reports used to trash Modi Reclassifying Flipkart discounts as capex will affect many others, so CBDT must examine it $800-MILLION VALUATION Piramal Enterprises to join JSW, JFE Steel in Bhushan Steel bid EDITORIAL COMPANIES, P6 Masayoshi Son-led SoftBank in talks to back PolicyBazaar MUMBAI, FRIDAY, JANUARY 26, 2018 WWW.FINANCIALEXPRESS.COM FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE READ TO LEAD VOLUME XXXXXV NO. 267, 24 PAGES, `6.00 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E SENSEX: 36,050.44 ▼ 111.20 NIFTY: 11,069.65 ▼ 16.35 NIKKEI 225: 23,669.49 ▼ 271.29 HANG SENG: 32,654.45 ▼ 304.24 `/$: 63.54 ▲ 0.15 `/€: 78.90 ▼ 0.36 BRENT: $71.01 ▲ $0.48 GOLD: `30,489.00 ▲ `250.00 83,346 Oct 86,703 Dec *As first announced in the last week of the subsequent month, the number must have since risen moderately as payments continued to trickle in, for instance, July collections were revised to above `95,000 crore on September 9. Composition-scheme dealers Total number ` OctDec `153 1 GB per day `49 DATA 1 GB a month FE BUREAU New Delhi, January 25 fromFebruary1andimposition ofreversechargelevyondealers payingnominaltaxesunderthe composition-scheme, might increase compliance further. Policymakers believe that GST would eventually increase tax buoyancy and also lead to rise in direct tax collections. Continued on Page 2 107 Ebitda margins (%) 14.96 16.03 bps Continued on Page 2 Returns filed (lakh) 335.86 8.1 421.35 stered the tax administrators’ confidence.December also saw businessestakingcreditforpreGST stocks as the deadline for these “transitional credits” ended on December27. Aseriesofanti-evasionmeasuresbeingtakenbytheauthorities, including the pan-India roll-outoftheelectronicway(eway) Bill for transport of goods MONTHLY RECHARGE RELIANCE JIO ON Thursday initiated yet another price war —itsthirdduringthemonth— by slashing the minimum rechargevalueofits4Gfeature phone to `49 per month from the earlier `153. As is known, this phone is targeted towards 2G feature phone users and comes forfree in the sense that subscribers need to pay a refundable security deposit of `1,500 which they would get back after three years, if they return the phone afterusing it. Last year in August, when Jio phone was launched for a `153 rechargevalue,it offered 0.5 GB data per day. 17.1 lakh Tax collected (` cr) JulySept 9.25 ALIZE JAGUAR MIRAGE 2000 Continued on Page 2 18,940 1,747 1,799 Motobahn P15 RISHI RANJAN KALA Average price ofsmartphones grew 13% y-o-y in CY2017 ■ Mid-end segment (`10,000-15,000) was fastest growing at 52% y-o-y ■ Premium segment (More than `30,000) grew 20% y-o-y TOP SELLING SMARTPHONES IN INDIA (2017 CY) Xiaomi Redmi Note 4 O V E R 60 YE A R S. 6 A I R C R A F T T YP E S. 1 N AT I O N MYSTERE IV 2.97 results were announced. Operationally,thecompany reported robust numbers,with net sales growing by 14% at `18,940 crore, which was on parwithanalysts’expectations. Thiswasonthebackofastrong volume growth of 11.3% y-o-y in the quarter.Volumes in the compact segment,which constitutes almost half the company’s volumes and includes top sellers like the new Dzire and the Baleno, grew by 27%, while the utility vehicle segment grewby28%. Ringing in change WISHING INDIA A VERY HAPPY REPUBLIC DAY. TO O FA N I 22.08 compared to the year-ago period, the company said.The Marutistockended1.6%lower at`9,277ontheBSEbeforethe Upwardly mobile FLYING WITH INDIA’S FLYING COLORS. w w w. ra f a l e. co. i n 13.93 3,038 NOW « 80,808 Nov EARLIER R A FA L E RANK 1 Xiaomi Redmi 4 RANK 2 Samsung GalaxyJ2 RANK 3 Oppo A37 RANK 4 Xiaomi Redmi 4A RANK 5 Source: Counterpoint Research 92,150 Sept 38.38 37.63 42.91 50.1 53.06 56.3 2,488 90,669 Q3FY17 Q3FY18 % growth Net sales Ebitda Net profit « INDIA-ASEAN IN WHAT EASED the concerns of a fiscal slippage ahead of the Union Budget,the government on Thursday reported that goodsandservicestax(GST)collections for December were `86,703 crore and ticking, against a low of about `81,000 croregarneredduringthecomparable period forNovember. Analysts said the latest figure probablyreflected a tipping point for (improved) GST compliancebybusinessesandstabilisation of the revenue streams forthe Centre. The GST collections had been on the decline since September(see table). That the higher December revenuewas despite the month bearing the full impact of the ratecutsonover200itemsthat tookeffectonNovember15bol- 92,283 July Aug (` cr) THE COUNTRY'S LARGEST car manufacturer, Maruti Suzuki India, on Thurday reported a 3% year-on-year increase in its net profit at `1,799 crore during the October-December quarter, which was less than Bloomberg consensus estimates of `2,006 crore.Thelower-than-expected profit was due to higher effective tax rates and lower nonoperating income,because of a `313-crore mark-to-market impactontheinvestedsurplus, Returns filed (lakh) Amount (` crore) FE BUREAU Mumbai, January 25 « FE BUREAU New Delhi, January 25 GST collections* Maruti’s profit rises 3%, board cuts royalty payment to parent « December revenue at `86,703 cr, up ~`7,000 cr from November low, despite rate cut impact Now, Jio cuts feature phone recharge value to `49 Q3 EARNINGS « GST collections post smart recovery ● PRICE WAR 16,624 TIPPING POINT? Sportiness of a saloon, space of an SUV The new Q5 is a hugely improved and bigger vehicle, but its competitors have also grown in size and stature.
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