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MOSL: Morning India (30/January/18): 1. Ecoscope; 2. HDFC; 3. Avenue Supermarts; 4. Tech Mahindra; 5. Emami; 6. Jindal Steel & Power; 7. Persistent System

MOrning India (30/January/18): 1. Ecoscope; 2. HDFC; 3. Avenue Supermarts; 4. Tech Mahindra; 5. Emami; 6. Jindal Steel & Power; 7. Persistent System; 8. Laurus Labs; 9. KPIT Technologies; 10. Orient Cement; 11. Automobile; 12. Metals Weekly

Today’s top research idea

EcoScope | Economic Survey 2017-18: Growth to accelerate to 7-7.5% in FY19

• The Economic Survey pegs India’s growth at 6.75% for FY18, higher than the CSO’s estimate of 6.5%. It estimates growth to improve to 7%-7.5% in FY19, with downside risks from higher crude oil prices, rising protectionism, and tighter monetary conditions across the globe.
• According to the Survey, GST collections have been surprisingly robust in the first five months post GST rollout, allaying fears of a shortfall in indirect tax collection. Higher-than-average buoyancy so far implies that GST could be a resilient source of revenue in future.
• It also points to a sharp 50% rise in the number of unique registered indirect tax payers post GST rollout, and computes that the GST tax base (at INR65-70t) and the implied RNR at 15.6% are in line with previous estimates, alleviating concerns around GST.

Piping hot news

Bankruptcy proceedings: JSW Steel offers Rs 3,700 cr for Monnet Ispat

• JSW Steel has offered Rs 3,700 crore for Monnet Ispat which is undergoing the insolvency resolution proceedings that are expected to be completed by mid-February, sources said. JSW is a bidder in the resolution proceedings of Monnet Ispat, which owes more than Rs 10,000 crore to its lenders. An email query sent to JSW Steel remained unanswered. "Out of Rs 3,700 crore, Rs 2,700 crore will be paid as cash to lenders. It would invest Rs 1,000 crore as equity which will be used for settling dues of employees and workmen, operational creditors and used for the day-to-day running of the company," said the source requesting anonymity.