MARKETS
BUYBACK
Britannia Industries completes third buyback plan
BISCUIT major Britannia Industries has completed its third buy-back programme. This buy-back programme has been completed in just over three weeks time, the shortest period in which the company has completed buy-back of shares. The company ...
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MUTUAL FUNDS
Canbank mulls revamp of GIC MF plans
CANBANK MF, which is set to acquire GIC MF's schemes, will consider restructuring them in line with its own investment strategies. It will not take on board any of the 20-odd executives engaged by the GIC-promoted outfit. An overwhelming ...
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Dividend withholding tax — MFs confident of retaining corporate investments
ASSET management companies are unperturbed by the hike to 20 per cent of dividend withholding tax for corporate investments in debt funds. Corporate treasury investments in debt mutual funds would continue to be an attractive option, feel mutual ...
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TAXATION
Brokers propose income-based transaction tax
REPRESENTATIVES of the broking community on Tuesday shared their cup of woes on the proposed 0.15 per cent securities transaction tax with the Finance Minister, Mr P. Chidambaram, and suggested that the burden of taxation on the different players ...
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Response to day traders' strike call lukewarm
THE trading volume was affected marginally on stock exchanges on Tuesday as a section of day traders refrained from active trading. The response to the strike call was lukewarm as several traders returned to the market, brokers said. Brokers ...
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Transaction tax, a knock on financial markets: IMF study
A RECENT study by two International Monetary Fund (IMF) experts has concluded that tax on securities transaction or its equivalent "throws sand, not in the wheels, but into the engine of financial markets". Mr Karl Habermeier, an advisor in ...
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Trransaction tax — Stockbrokers fear shift in business, slump in volume
WITH the Finance Minister, Mr P. Chidambaram, virtually making it clear on Monday that there will be no going back on the proposal to levy transaction tax on the trading in the capital markets, the attention now is on whether part of the levy ...
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TECHNICAL ANALYSIS
Bears prevail
THE sentiment reading of the tradable counters continues to remain neutral. Bear domination on Wednesday is likely to change the sentiment reading in their favour. Otherwise, the sentiment reading is likely to turn bullish. Nifty futures ...
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STOCK EXCHANGES
BSE to operationalise trading platform for SME instruments
THE Bombay Stock Exchange (BSE) would be entrusted with the responsibility of providing a nationwide audience for instruments floated by small and medium enterprises (SMEs) by operationalising the new trading platform promised in the Union ...
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STOCK MARKETS
Asahi India stock pulls block deal
THE Asahi India Glass stock today attracted a block deal of 2.5 lakh shares, representing 0.31 per cent stake, on the BSE. The deal was struck towards the end of the session (at 2.50 pm) at Rs 98.90 per share. Further information on the deal ...
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Siesta time at Dalal Street
A day trader taking a nap at a brokerage firm in Mumbai as traders kept off trading in protest against the transaction tax announced by the Finance Minister in the Budget ...
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Monsoon blues hit cement stocks
AFTER the positive reports on monsoon, now is the turn for negative news. The first victim of the news that monsoon is likely to be below normal in the stock market is cement stocks. The fear in the market is that this might lead to lower demand ...
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DERIVATIVES MARKETS
Reliance: Outlook negative, sell July futures
THE following strategies are based on Tuesday's trading in the spot and the derivatives segments on the NSE: Reliance Industries: The stock closed at Rs 431 in the spot market. The outlook appears negative. The downside price target is ...
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COMMENTARY
Infosys scrip braves brokers' boycott
UNCERTAINTY regarding issues such as turnover tax and the increase in FDI in the telecom and insurance sectors continues to prevail over the market. The markets, which had a dull day on Monday, ended Tuesday on a negative note. Brokers, day ...
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