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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...

Budget 2018: Last 10 Years’ Figures Show Nifty Rising in the Month Following Budget

30Jan By RishabhNo Comments

ANALYSIS

Budget 2018: Last 10 Years’ Figures Show Nifty Rising in the Month Following Budget

If you are waiting for a dip to invest fresh capital in the market, especially after a strong rally seen in the equity market so far, then is this the right time for you? Let's have a look what history has to say. If you are waiting for a dip, then chances of happening that are very low. Have a look at the data shown below: As you can see, the market declined only 3 times out of 10 years(i.e. 2009, 2012, 2015). The Nifty raised 7% in both 2010 and 2011 and considerably 9% in 2016 in the following month of budget. It is also evident from the data that the scenario is just opposite in the month prior to the Budget release.There's a dip in the market 6 out 10 times and remained unchanged for the remaining 2 times. The Economic Survey that was released on Monday highlighted som...

Everything You Need To Know About ASEAN Members and India

25Jan By RishabhNo Comments

News

Everything You Need To Know About ASEAN Members and India

What is ASEAN? ASEAN- The Association of Southeast Asian Nations is a regional intergovernmental organization, founded in 8 August 1967 that comprises of ten Southeast Asian countries which promotes unity of Asian peoples and resist the Western imperialism and colonialism and promote Asian values over European values. The association of ten nations includes these 10 states- Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. 1 Observer – Papua New Guinea. The association was however founded in by the five original member countries- Indonesia, Malaysia, Philippines, Singapore and Thailand. The organization’s membership later expanded to include Brunei, Cambodia, Laos, Myanmar and Vietnam. ASEAN works on finding measures to i...

24Jan By RishabhNo Comments

INDIA

10 Images Showing Indian Glamour at World Economic Forum 2018

India is indeed one of the most talked about topic at 48th World Economic Forum in Davos, Switzerland. The temperature is freezing, but the zeal is not. The World Economic Forum has witnessed great participation and applause from all around the world. PM Modi was the first Indian Prime Minister who opened the session of World Economic Forum. Accompanied by several ministers and several business delegates, he shared his views inviting global CEOs for business in India. Below are some of the amazing memories from World Economic Forum after its first day!

23Jan By Press Trust of IndiaNo Comments

INDIA

India Means Business: Modi Tells Global CEOs

Prime Minister Narendra Modi today told top CEOs here that India means business and presents exciting opportunity for the global businesses. Addressing a roundtable before a dinner meet, Modi narrated Indias growth story. He was accompanied by top government officials including Vijay Gokhale, Jai Shankar and Ramesh Abhishek. Under the tagline of "India means business", the roundtable was attended by 40 CEOs of global companies and 20 from India. After the meeting, MEA spokesperson Raveesh Kumar tweeted about Modi narrating Indias growth story and presenting exciting opportunities for global business in India at Davos. The spokesperson also tweeted that the prime minister "hosted a roundtable meeting with CEOs of top global companies". Modi, who arrived in Davos on Monday ...

19Jan By Press Trust of IndiaNo Comments

INDIA

India Tops in Producing Bachelor in Science and Engineering

India accounts for one-fourth of the estimated 7.5 million bachelor in science and engineering degrees awarded across the world in 2014, a report has said. However, its the US that tops the charts in research and development spending, according to the annual Science and Engineering Indicators 2018 report of the National Science Foundation has said. China's growth in science and engineering field continued at an exceptional pace, the report said. The US is the global leader in science and technology (S&T). However, its global share of S&T activities is declining as other nations -especially China- continue to rise. According to the most recent estimates, in 2014, the US awarded the largest number of S&E doctoral degrees (40,000) of any country, followed by China (34,...

18Jan By NitishNo Comments

INDIA

Thanks To Indian Govt, Now Hotels Need To Display Their Ratings at Reception & Websites

All hotels will now have to mandatorily display their classification status prominently at the reception and on their websites, according to a new set of guidelines issued by the Ministry of Tourism. Ministry officials said that the new set of guidelines were aimed at streamlining hotel classifications to make them simple, transparent and time-bound. Hotels in India are categorised under five categories 1-5 star depending on the amenities they provide.Unlike previously, when the payment for applications for classifications had to be done through demand drafts, such payments can now be done only online, the new guidelines stated. This, the officials said, ensures eradication of the possibility of delay and manipulation caused by human interference. Similarly, the new amendments hav...

17Jan By AnkitaNo Comments

FUNDING

Bidgely Closes $27M Series C Funding to Grow India Office

Founded by Indian Institutes of Technology alumni, CEO Abhay Gupta and CTO Vivek Garud, Bidgely announced today that it has closed a $27 million Series C round of financing. The largest round of investment to date for energy disaggregation technology. US based Bidgely started from Silicon Valley have Plug-and-Play incubator in 2011, and the high-growth energytech startup is now leading the way in the convergence of AI and energy use. The company currently has offices in Mountain View, California, Bangalore, India and the Netherlands. Georgian Partners, an investment fund known for its focus on high-growth enterprise software companies that use applied artificial intelligence to disrupt markets, led the oversubscribed round. Returning investors include Khosla Ventures, E.ON, and innog...

16Jan By AnkitaNo Comments

News

Bad News For Startups, Jaarvis Accelerator Shutting Down India’s Operation

Gurgaon based Jaarvis accelerator is shutting down its India operations, as per news reported by leading news platform. The team of Jaarvis including Saumyajit Guha (Co-principal) also left the accelerator in October 2017. The accelerator, which had set up its shop in India in 2015, is also in the process of writing off investments in its portfolio. Jaarvis Accelerator funded close to 13-14 startups including Arbunize, Comparometer, DesignDodo, Drinks on Me, Edurev, Psychd, R2 Robotronics, Sniffer, Spotwrks, Extra Carbon, iManageMyHotel, and PromOn. As part of the six-month accelerator programme, selected startups got access to office space, mentors, prospective customers in Asia Pacific and funding of up to $50,000 in return of 10-12% stake. Almost 13 startups graduated from ...

11Jan By AnkitaNo Comments

INDIA

India Lost 2 Crore Mobile Users in November

The number of telecom subscribers dwindled by 1.58 crore to 118.5 crore in November, even as Reliance Jio continued to lead in customer addition with over 15 crore subscribers, as per a report by Trai. "The number of telephone subscribers in India declined from 1,201.72 million at the end of October 2017 to 1,185.88 million at the end of November 2017, thereby showing a monthly decline rate of 1.32 per cent," the Telecom Regulatory Authority of India said in a monthly subscriber report today. The decline was mainly on account of closure of mobile services by some of the operators including Anil Ambani-led Reliance Communications (RCom), which lost over 2.57 crore subscribers during the period. As per the report, the number of total mobile subscribers declined to 116.24 crore from ...

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse

11Jan By Press Trust of IndiaNo Comments

News

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse

Price Waterhouse today said there has been no intentional wrongdoing by its firms in the Satyam case and expressed confidence of getting a stay on the Sebi order. The audit major also said it has learnt the lessons from Satyam case and invested heavily over the last nine years in building a robust and high quality audit practice. Finding Price Waterhouse guilty in the multi-crore Satyam scam, Sebi has barred its network entities from issuing audit certificates to any listed company in India for two years. Besides, the watchdog has ordered disgorgement of over Rs 13 crore wrongful gains by the audit major and its two erstwhile partners who worked on the IT major's accounts. "As we have said since 2009, there has been no intentional wrongdoing by PW firms in the unprecedented man...

Canadian Investment Firms Pumped $20 billion in India

9Jan By AdityaNo Comments

ANALYSIS

Canadian Investment Firms Pumped $20 billion in India

Canadian funds/firms have pumped in a full USD 20 billion in India, mostly by way of equity funds over the past decade alone, while bilateral trade is clipping at 30 per cent, both are going to get a fillip with the new bilateral pact, says an official. Fund inflows are set for acceleration with the signing of the much-awaited of the Foreign Investment Promotion and Protection Agreement (FIPA) by the two nations which will further boost investor investment, Canadian consul general in Mumbai Jordan Reeves said. "Canadas investments in India have touched USD 20 billion by way of equity funds in a short span of 10 years. Several pension funds and institutional investors are looking at more investment opportunities here, including on project financing," Reeves said. Addressing an inte...