Data 27.02.2019

Statistics as on 27.2.2019
Description	Currency	Values
USD vs INR		71.22
Euro vs INR		81.24
Euro vs USD		1.137
Gold / 10 gram	INR	33,299
Sensex		35,905
Crude Oil WTI (NYMEX)	USD	56.99
Brent Crude	USD	66.58
Iran Heavy Oil	USD	60.03
Chennai Petrol price  / litre	INR	74.41

Data 26.02.2019

Statistics as on 25.2.2019
Description	Currency	Values
USD vs INR		71.07
Euro vs INR		80.75
Euro vs USD		1.137
Gold / 10 gram	INR	33,373
Sensex		35,973
Crude Oil WTI (NYMEX)	USD	56.02
Brent Crude	USD	65.64

Data 25.02.19

Statistics as on 25.2.2019
Description	Currency	Values
USD vs INR		70.89
Euro vs INR		80.55
Euro vs USD		1.136
Gold / 10 gram	INR	33,320
Sensex		36,213
Crude Oil WTI (NYMEX)	USD	55.45
Brent Crude	USD	64.91

Data 20.02.2019

Statistics as on 20.2.2019
Description	Currency	Values
USD vs INR		71.06
Euro vs INR		80.63
Euro vs USD		1.135
Gold / 10 gram	INR	33,853
Sensex		35,756
Crude Oil WTI (NYMEX)	USD	57.22
Brent Crude	USD	67.08

Data 15.02.2019

Statistics as on 15.2.2019
Description	Currency	Values
USD vs INR		71.36
Euro vs INR		80.58
Euro vs USD		1.129
Gold / 10 gram	INR	33,398
Sensex		35,808
Crude Oil WTI (NYMEX)	USD	55.59
Brent Crude	USD	66.25

Talent - An Accountant’s Dilemma

Talent is a “scientific” art which sets up a person uniquely amongst a group. 

Once I was engaging a valuation professional to value shares of the company for a legal & taxation purpose, I explained him my requirement for valuation and provided him with all financial numbers / projections.  Before going through the numbers the first question from him was “How much value you want”, though this question stunned me I was astonished by his talent of creativity and “customer satisfaction”. 

There are many more “Accounting Talents” similar to the above (but in a larger scale) to name a few which are familiar to most of us – Enron, Arthur & Anderson, Worldcom, Lehman Brothers and Satyam.  All these are examples of Accounting Talents which made some individuals extremely rich (albeit for a short of time till they were caught).   Obvious question – how many more are still there yet to be caught and still making millions?

Talent of an accountant is best personified on how hard he stands for values & ethics of the profession.  Luckily for me my organization supports this.

Briefing 15.02.2019

• Sensex had a 6th day of straight losses.  Domestic concerns over industry growth and lower inflation are the main factors for a prolonged week phase in markets
• WPI inflation fell to a record low of 2.76% in January 2019 due to sharp fall in product and food prices.  This gives headroom for RBI  to further reduce interest rates
• Pilot shortage hits Indigo forcing it to cancel flights.  Aggressive expansion plans weighed in without taking into consideration pilots working hours have hit the airline hard
• Oil is on a song.  In 2019 it has increased by 19%.  Cut in output by OPEC countries, sanctions on Venezuela are the main reasons for this increase.  Saudi estimates a break even on its economy only when oil reaches $ 80 to $ 85 per barrel.   Currently Brent Crude trades at $ 65.57 per barrel.  Expect more increases in oil front.
• Jet airways has approved a plan by its lenders to resolve a Rs.8,500 crores debt.  Plan includes conversion of debt to equity, debt restructuring, sale and lease back of aircraft.  Jet will seek shareholder approval on 21st February for conversion of debt into 114 million shares.
• Naresh Goyal may not be the biggest shareholder in Jet after the new approved restructuring plan as a consortium of banks led by SBI will become the major shareholder.  Naresh Goyal will have around 20% (currently 51%) , Etihad 24%.   
• The biggest passenger carrier A380 manufactured by Airbus will become history soon.  Airbus will stop manufacture of A380 from 2021.  Though this aircraft cuts on fuel costs and pollution it calls for significant investment by carriers on airport space, hanger space, wider runways to name a few, which means all seats should be sold to make it economical which is not viable in all situations.  Competition from Boeing's fuel efficient Dreamliner also had a major impact on A380.
• Theresa May again losses vote on Brexit in Parliament.  Voted out on 303-258 on the main motion for reaffirmation of support for May's plan on Brexit
• Germany posted a 0% growth in 4th quarter of 2018, narrowly avoiding a recession.  It was preceded by a 0.2% growth in Q3 of 2018.

Data 14.02.2019

Statistics as on 14.2.2019
Description	Currency	Values
USD vs INR		71.03
Euro vs INR		80.22
Euro vs USD		1.130
Gold / 10 gram	INR	33,073
Sensex		35,876
Crude Oil WTI (NYMEX)	USD	54.54
Brent Crude	USD	64.57

Data 13.02.2019

Statistics as on 13.2.2019
Description	Currency	Values
USD vs INR		70.87
Euro vs INR		79.84
Euro vs USD		1.127
Gold / 10 gram	INR	33,010
Sensex		36,034
Crude Oil WTI (NYMEX)	USD	54.04
Brent Crude	USD	63.70

Briefing 09.02.2019

• On 8.2.19 Sensex ended 425 points lower mainly due to concerns of performance of other global stock markets, week economic growth projection especially in Europe and still no much movement in resolution of US-China trade dispute
• Net direct tax collection between April 2018 to January 2019 was Rs.7,88,930 crores.  Target for the fiscal year 2018-19 is Rs.12 lakh crores.  In 2017-18 net direct tax collection was Rs.10.02 lakh crores
• In response to 0.25% reduction in interest rates by RBI, SBI reduced home loan rates by 0.05%
• Indian forex reserves again crossed US$ 400 billion mark and is at US $ 400.2 billion in January 2019.  This is mainly due to softening of global oil prices
• Tata motors which reported a loss of Rs.26,961 crores in December quarter saw its stock prices drop 17% in one single day on 8.2.19.  Loss in market capitalization on a single day is Rs.9.124 crores
• Public Sector Banks NPA's is at Rs.8,64,433 crores in December 2018.  This is Rs.31,000 crores less compared to March 2018.   NPA's are eating away profitability of banks and is very high, need to be brought down significantly
• Lenders sell shares of Anil Ambani group on fears of company's performance leading to 55% erosion of market capitalisation in 4 days
  

08.02.2019

Statistics as on 08.2.2019
Description	Currency	Values
USD vs INR		71.30
Euro vs INR		80.85
Euro vs USD		1.134
Gold / 10 gram	INR	33,200
Sensex		36,546
Crude Oil WTI (NYMEX)	USD	52.31
Brent Crude	USD	61.66