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Indian Sensex Crashes Over 300 pts on Capital Gains Tax Proposal

1Feb By AdityaNo Comments

Market

Indian Sensex Crashes Over 300 pts on Capital Gains Tax Proposal

Benchmark Sensex crashed over 300 points in afternoon trade today after Finance Minister Arun Jaitley announced 10 per cent tax on some long term capital gains in his Budget speech. The NSE Nifty also sank below the 11,000-mark during the Budget presentation. Sentiment also took a hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier. The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent. In highly volatile trading, the Sensex crashed to 35,590.17, a steep fall of 374.85 points, or 1.04 per cent. The 50-share NSE Nifty dropped 117.20 points, or 1.06 per cent, to 10,910.50. All sectoral indices were weighed down by widespread selli...

Know About The Sensex Zig-Zag Happened On Gujarat And HP Election Day

18Dec By RishabhNo Comments

Market

Know About The Sensex Zig-Zag Happened On Gujarat And HP Election Day

The BSE Sensex and NSE Nifty rose after falling over 2% in the opening trade on Monday under the influence of close fight in voting between BJP and Congress in Gujarat and Himanchal Pradesh. The disturbance also weakened against the US Dollar, while bond yield hit a fresh 16-month high. As the market opened, BSE Sensex was down by 531.93% points (1.59%), to 32,931.04 while the Nifty 50 fell 217.30 points (2.10%) to 10,115.95. The market also saw rupee opened at 64.23 against a dollar and touched a low of 64.40. At 09:15, rupee was trading at 64.39 dollar, down 0.54% at the time it closed on Friday at 64.05. The 10-year bond yield was at 7.192%, a level last seen on 3 August 2016, compared to its previous close of 7.134%. At 09:42 all the 19 sectoral indices declined, with BSE Teleco...

4Dec By RishabhNo Comments

Market

Xiaomi To Seek $50B Valuation In IPO

Beijing based Chinese smartphone maker company Xiaomi is in talks with investment banks about an initial public offering and is seeking a valuation of at least $50 billion, Bloomberg reported. Once, the world's most valued startup is in the word is considering an offering in the starting of the year 2018 with most probably Hong Kong as its destination, quoted people who don't want to be named. While banks have talked up prospects of the Chinese smartphone manufacture, as they seek to win the mandate, they have concerns about whether Xiaomi can reach the $50 billion mark, much less a $100 billion target that some top executives have embraced, the people said. Xiaomi had earlier raised money in 2014 at a valuation of about $46 billion. Xiaomi, led by Lei Jun, has invested extensively in I...

Indian Banking Shares Surge On Government’s $32.4B Recapitalisation Plan

25Oct By RishabhNo Comments

Market

Indian Banking Shares Surge On Government’s $32.4B Recapitalisation Plan

Indian banking shares soared on Wednesday, sending indexes to record highs after the cabinet approved a $32.43 billion plan to recapitalise its state banks over the next two years, although bonds fell given the injection will be funded with debt. State Bank of India, the biggest lender, rose more than 20 percent, while Punjab National Bank, the second biggest state-run lender, surged more than 33 percent. Also Read Know Why Zomato Base President Resigned Within 8 Months of Joining The benchmark NSE Nifty rose as much as 1.3 percent to a record high of 10,340.55, while the BSE Sensex climbed as much as 1.6 percent to a record high of 33,117.33. Bonds fell, with the benchmark 10-year bond yield up 3 basis points to 6.81 percent from its previous close. ...

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

14Jul By PriyankaNo Comments

Market

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing. The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...

17Aug By AnkitaNo Comments

Market

Backed by Nandan Nilekani, Coffee Day Enterprises gets Sebi nod for Rs.1,150 crore IPO

Coffee Day Enterprises Ltd, known as the Cafe Coffee Day (CCD) brand among other businesses, has received the green signal from securities market regulator Securities & Exchange Board of India (SEBI) to float its initial public offer (IPO). India's biggest coffee chain firm had filed its draft red herring prospectus (DRHP) with Sebi through its lead merchant banker Kotak Mahindra Capital Company Limited on 26 June this year. (more…)