Top

Corporate Earnings News

New Direct Tax Code Bill

August 30, 2010

Breaking NewsWe have been able to obtain a copy of the Direct Tax Code Bill as Introduced by the Government in the Lok Sabha. As discussed earlier by our Analysts, the content in the new bill is very similar. Major Changes apart from what is already discussed is,

  • Applicable from 1st March 2010. That means it will be applicable for Citizens filing IT returns on or after April-1st 2013.
  • 5% Dividend Income Distribution tax to be Paid by MutualFunds [AMCs] and ULIPs [Insurance companies]
  • Read More »


Pranab Mukherjee Does U Turn on Direct Tax Code

August 27, 2010

Finance Minister Mr. Pranab Mukherjee did a complete “U” turn on the Direct Tax Code Bill. The first draft released in August-2009 [See here] had proposed some very drastic changes raise the individual income tax limits in 3 big slabs of 1.6 Lakhs to 10 Lakhs, 10 Lahks to 25 Lakhs and 25 Lakhs & above. Get rid of all exemptions as well as total savings was encouraged to take it upto Rs 3 lakhs.

The Second draft [See here]had also proposed to tax capital gains from stock markets currently 100% exempt. However, the Read More »


IPO Reviews

Winners and Losers – Analysis

August 19, 2010

A total of 27 companies which were listed during the period have been examined. During this period ~INR 24832 crores has been raised from the primary market. Taking over-subscription into consideration around ~INR 1, 54,449 has been applied for these IPO’s.

On an average these IPO’s were over-subscribed 6.2x while if we remove NMDC (which was the biggest IPO at INR 9966 crores and was oversubscribed only 1X) from the over-subscription list, the over-subscription would go up to 9.5x. Read More »


What 25% Free Float means to Markets ?

June 7, 2010

Government raises threshold for public shareholding in listed companies: The Indian government today amended the Securities
Contracts (Regulation) Rules, making it mandatory for listed companies to have a minimum public holding of 25%.

We present below a sort of the broad based BSE 500 index which indicates that the following companies have a public holding of less than 25% and will have to comply with the change in regulation over the next few years. Read More »


Mutual Funds in India

AUM + Portfolio Moves Update for June

July 19, 2010

Indian Equity MFs AUM, at INR 2.14 tn, accounted for ~34% of total AUM. Aided by the rally in broader markets, equity AUM rose ~4% over the previous month. Sales in existing equity schemes stood at ~INR 40.3 bn in June against ~INR 54 bn in May. New fund offerings (NFOs) of equity schemes of ~INR 10.7 bn during the month.

Total AUM stands at INR 6.3 tn. It dipped by ~INR 1 13 tn over the previous month. Ratio of large-cap AUMs to mid-cap AUMs Read More »

Axis Triple Advantage Fund – Review

July 2, 2010

Axis Triple Advantage Fund, seeks to help investors take advantage of the benefits of diversification by investing in a mix of three asset classes viz. Equity, Bonds and Gold.

Equity – Long Term Growth Stocks – Most volatile with a 30-40% allocation
Bonds – “Classical” diversification in portfolio Low risk compared to stocks with 30-40% allocation Read More »

Bottom