On the sectoral front, barring Nifty FMCG (-1.1%) and Metal (-0.1%), all other indices closed higher. Nifty Bank (+10%) outperformed, followed by Financial Services (+5%), Realty (+4%), and Auto (+2.3%). All the sectoral indices are trading above their 50-DMA. Barring Nifty Bank, Financial Services, and Realty, all other indices are trading above the 200-DMA.
The Indian market remains in a Confirmed Uptrend. Despite the rise in distribution day count on Nifty, we remain positive on the general market as the broader market is gaining strength. We would like to see fresh names flexing their muscles for a sustainable rally. We do think it is important to be selective in this environment and we would remain disciplined with entries, requiring a basing period before establishing fresh positions. We will continue to monitor the behavior of the market and keep an open mind as to how it unfolds.
Wockhardt reported its Q1 FY21 results during the weekend. Revenue from operations declined 17.2% y/y to Rs 177 crore. PAT was Rs 766 crore compared with a loss of Rs 83 crore in the corresponding quarter last year. PAT came higher due to an exceptional item of Rs 1,484 crore.
Reliance Industries announced the acquisition of Future Group’s businesses for Rs 24,713 crore. Reliance Retail will now have access to close to 1,800 stores across Future Group’s Big Bazaar, FBB, Easyday, Central, and Foodhall formats.
O’Neil Market Condition Report
For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 54%; Rally Attempt, 12%; Uptrend Under Pressure, 34%; Downtrend, 0%.
For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 42%; Rally Attempt, 4%; Uptrend Under Pressure, 50%; Downtrend, 4%.
Bayer Cropscience, Coromandel International, Tata Chemicals, Bharat Dynamics, Fine Organic Inds, Jubilant Foodworks, Sbi Cards And Payment Services, Dabur India, Tata Consultancy Svs., Navin Fluorine Intl., Aurobindo Pharma, United Spirits, and Britannia Inds.
Nidhi Companies in India are formed to grow the habit of savings amongst its members. As these Companies are identical to a NBFC, their activities are under the supervision of Reserve Bank of India. A nidhi company can take deposits from its members and offer money to them. The primary work of Nidhi company includes making a habit of thrift and saving among its members and the services of members are limited.
Nidhi company doing as a very popular lending mechanism for secured loans, and the operations of it very similar to the co-operative society. It is very important part for financial type of small business , to secure the business purpose activity and grow the company as soon as possible. To incorporate your nidhi company online without any legal problem and get cost-effective registration fees and it help growing entrepreneurs to process their nidhi company registration documents accurately and perform the registration process in fastest and hassle-free ways.
Post Incorporation Needs for Nidhi Company
Within a period of 1 year from beginning, every Nidhi must fulfil all of the following criteria:
It must have minimum 200 members
It must make sure that net owned funds are Rs. 1000000 or more
The ratio between net owned funds and deposit is not more than 1:20
It needs to have unencumbered term deposits of not less than 10% of the outstanding deposits.
Minimum Requirement of Nidhi Company Registration
According to Companies Act, 2013, in order to start this company, the first step includes incorporation of a nidhi company.
Minimum of 3 directors
Minimum of 7 shareholders
There is no need of minimum capital (Before it was Rs 5,00,000)
The aim of the company includes growing the habit of saving among its members
The application should accompany Memorandum of Association (MoA) and (AoA) of Nidhi Company.
PAN and TAN applications will be done with Nidhi Company Registration.
The business of Nidhi Company is concerned with the financial services which are important for small type mutual benefit. The Nidhi company incorporation procedure is accomplished online through the portal of Ministry of Corporate Affairs using scanned copies of all the necessary incorporation documents. The form is filled and signed with digital method in order to avoid mistakes and facilitate faster registration with the help of best nidhi company registration consultant.
Perhaps, this is why you need to maintain your cash flow to get rid of a critical financial time so that you can meet your day-to-day demands and unplanned circumstances. But if your business is suffering from poor cash flow, then there are some finance professionals in your company, or you can hire a tax accountant in Melbourne CBD who can help you to maintain your cash flows.
The accounting department of your firm can do some wonders to make your cash flow smoother and healthy. So, let’s explore the five lean things your tax accountant in Melbourne can do immediately to help your cash flow.
The gap between your payables and receivables can create a surprising mess in your day to day operation hours. To mitigate this gap, your accounting department can go for a short-financing for immediate purchasing or paying dues to your employees. Several banks offer business credit cards that can be used to clear the due of vendors.
Cost-cutting is yet another very prominent way to make your cash flow in control. When your business starts making high profits and deals, we often forget to cut the unnecessary costs to keep the cash flow maintained. And staying on top of the business expenses is probably one of the best things your tax accountant in Melbourne CBD can do for you.
Quick recovery of your receivables
Speedy recovery of your firm’s receivables is one of the best methods to achieve a reasonable cash flow rate. The accounting department of the firm must be alerted to prepare the billing process and collection timely. The late payment issues can lead to poor cash flow. That is why, rather than waiting for the entire month, you need to send the bill early as soon as you have goods delivered.
Liquidate cash ties
The assets which are no longer in use and have become an absolute antic for the business firm must be considered for selling for making some healthy amount of money for better cash flow. The Accounting department should ensure these things in their mind for making cash deal out of surplus assets and equipment.
Go for the E-paper billing.
At the age of technology, the conventional paper billing process seems quite out of old fashion now. Many giant business firms are now going for the via-email billing or any e-paper billing to mitigate the cost of a stamp, envelope, paper, and, most importantly, time. And in this, no one can assist you better than your tax accountant in Melbourne.
For continued success and smooth day to day operations, you need to have a healthy cash flow rate. You can ask your accounting department for aid or contact Accounts NextGen for imperative aids and suggestions.
Imagine that a client comes to you with a medical lawsuit to bring against a hospital. You listen to the case and think to yourself if this is true, then this will be one of the easiest cases in the world to win – the client was most obviously the victim of careless medical care. So, you figure that you’ll analyze the client’s medical records to get the proof that you need. But, you open up the medical record and then you realize one important, tiny little detail that you had previously forgot: you have no idea what any of it means.
This is when your law firm needs legal nurse consulting. Legal nurses help close cases by interpreting valuable medical information while acting as a legal assistant. They can interview plaintiffs and defendants, write up reports, and testify as expert witnesses in a courtroom setting. These types of nurses also understand the “business” side of medical delivery. Indeed, legal nurses are absolutely vital to any law firm that’s serious about winning their cases.
Consider the following example case. An elderly nursing home has a resident with many symptoms, including dementia, diabetes, CRF, and so on. This resident is, naturally, completely dependent on the nursing home to care for them. One day, a nursing assistant found a bruise on the patient and let the nurse know about it. Later that same day, the elderly resident passed away. The autopsy confirmed that the resident had fallen within a few hours of the elderly person’s death. When the family sued, a legal nurse who was called in to review the medical records cited a lack of any documentation regarding the bruise or fall. Both the home and the nurses were convicted of tampering with medical records and wrongful death. Due to the victory, aided in no small part by the legal nurse, the administrators are now serving 10-year jail sentences.
While it may be clear that legal nurse consulting is very beneficial to your law firm, many owners are concerned about the cost. Good legal nurses have been known to charge up to $150 an hour for their work. However, many are also willing to work in-staff for less than six figures. As such, if you’re a firm that has any thoughts of dealing with medical suits, you can’t afford to not dole out much of these responsibilities to a good legal nurse.
It’s also imperative that you hire/retain a good legal nurse. The designation of LNCC (Legal Nurse Consultant Certified) demonstrates that the candidate has at least five years of registered nursing experience, plus at least 2000 hours of legal nursing experience, and has passed a comprehensive exam that directly assesses many of the duties that legal nurse consulting entails. In addition, like many other professional certifications, this has to be renewed every five years, so you know that anyone holding a LNCC has more than adequate legal nurse consulting expertise. Indeed, while it is possible to take people who are just registered nurses and use them in a legal capacity, it’s much better to look for the LNCC designation. That way you know you are getting someone who has had a lot experience in both the medical setting and the legal one.