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Vodafone to examine Budget’s tax fine print
In what is probably the ugliest detail in the budget's fine print, the government introduced a retrospective amendment to the Income Tax Act, 1961. This move will go a long way in impacting the much needed FDI flow in the country. After losing its case in the Vodafone-Hutchison case in the #Budget 2012 #BudgetImpact #FDI #Supreme Court #Vodafone
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Budget 2012: FM slams the door on investors
All investors had their eyes set on whether Finance Minister would fulfill their demands or not. Unfortunately, the only demand by the investing community of removal of STT (Securities Transaction Tax which is the tax on trading stocks) has not been met be the finance minister. Against the demand of a #Budget 2012 #BudgetImpact #Pranab Mukherjee #Stock exchange #Stock market #STT
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An inflationary budget pulls Sensex down 209 pts, bond yields zoom
3.30 p.m: An inflationary and a political budget has pulled stock markets lower while bond yields have risen on a higher borrowing program set out by the government. Widening the service tax bracket and increasing excise duty will cause prices to rise, which in turn will make it difficult for the central #BSE Sensex #Budget 2012 #Budget2012 #coal india #e-auction #Kingfisher PLC #MarketLive #TITAN INDUSTRIES LIMITED
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Deregulating oil sector can be a game-changer; Will FM oblige?
One sector that has been a perennial headache for the government over the year has been oil & gas. Any increase in prices of diesel, petrol, kerosene and LPG has met with strong resistance from both the public and politicians. Reluctance to increase prices has in turn affected the financial strength #Budget2012 #BudgetExpectation #Diesel #Inflation #oil
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Show me the money, banks urge FM ahead of Budget
Unlike any other earlier budgets, the banking sector this time around is very keenly watching the finance minister for his announcements. The sector has been hit by under capitalisation, non-performing assets from various government and private sector lending like power, infrastructure, agriculture, among others. Lower credit growth due to slowing economy #Banks #Budget2012 #BudgetWishlist
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New accounting norm will depress DLF earnings, make it lumpy
The shares of DLF, India's largest listed real estate company, have one more reason to fall. It was recently hit by a research report from Veritas which said the company could not be worth more than Rs 100 a share. The company booked a loss of Rs 280 crore due #DLF #ICAI #ToWhatEffect
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UP elections: Market’s worst nightmare has come true now
After opening lower, the markets pulled back strongly as election results started pouring in. Though five states went in for elections, all-eyes were on Uttar Pradesh as far as the markets were concerned. The indices have been volatile, reflecting the changing fortunes of the Congress Party in UP. Though the Congress #Elections Results #FIIs #markets #UP Elections 2012
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Cotton exports ban: A very painful policy
Trust the government to announce a policy that will benefit no one. On Monday, Directorate General of Foreign Trade (DGFT) suddenly announced a ban on all cotton exports from India. The impact of this announcement will not only be felt domestically, but also globally. India is the second-largest exporter of cotton in #CCI Television Inc. #Cotton #cotton exports #HowThisWorks
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SP’s likely win energises Ambani stocks, dampens Jaiprakash
The exit polls say it's time to go long on Samajwadi Party (SP) and short on Bahujan Samaj Party (BSP). This is what the markets are telling us today (Monday, 5 March). Companies or industry houses that are reckoned to be close to these parties have been trending differently on the #Anil Ambani #Elections2012 #Reliance #Reliance Infra #StockWatch #UP2012
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LIC & ONGC: An insurer discovers love in dying minutes
Looks like the disinvestment ministry has taken the Life Insurance Corporation's tagline ('Why go anywhere else?') a bit too seriously. Minutes before the government's first-ever disinvestment through the auction route was about to end in a fiasco, India's government-owned life insurer had to throw its owners a lifeline. It was roped #Disinvestment #DumbMoney #LIC #ONGC #ONGC auction