Archive for February, 2008
Gammon Infra IPO Opening on 10th March 2008
Gammon India’s subsidiary Gammon Infra is coming up with an IPO offering 165.50 lakh equity shares of Rs 10 each on March 10, 2008 at a price band of Rs 167-200 per share. The issue will close for subscription on March 13.
SSKI Corporate Finance Private Limited and Macquarie India Advisory Services Private Limited [...]
Market down on higher short-term capital gains tax
Benchmark indices tripped after Finance Minister P Chidambaram announced a hike in short-term capital gain tax to 15 per cent from the present 10 per cent. Bombay Stock Exchange’s Sensex plunged 422 points or 2.3 per cent to 17,402 and National Stock Exchange’s Nifty was at 5,155 down 129 points or 2.21 per cent. However, [...]
Tea stocks gain on Rs 40 crore fund
Shares of tea producers gained momentum after the finance minister formed Rs 40 crore special support fund for tea. Parry Agro was up 3.76 per cent at Rs 1,989, Asian Tea Exports was up 2.85 per cent at Rs 41.45, Tata Tea was up 0.71 per cent at Rs 824.90, Assam Company was up 1.46 [...]
India Budget 2008: Want to know what will be Your Personal Income Tax Now?
Threshold tax exemption limit increased from Rs 1,45,000 to Rs 1,80,000 for women
Threshold limit of tax exemption increased from Rs 1,10,000 to Rs 1,50,000 for men
So in details, For income upto Rs 1,50,000 tax liability will be nil, between Rs 1,50,000 and Rs 3,00,000 tax liability will be 10% , from 3 lakh to 5 [...]
Healthcare shares languish despite Rs 16,534 cr Budget allocation
Shares of pharmaceutical companies continued to languish along with the rest of the market even as Finance Minister Chidambaram proposed an allocation of Rs 16,534 crore for the healthcare sector in the Union Budget for FY 08-09.
Chidambaram also announced health cover of Rs 30,000 for every worker in the below-poverty line category. However, it failed [...]
Power transmission cos shares gain on national power fund
Shares of companies related to power transmission & distribution posted gains after the budget announced plans for a national fund for the segment. At 12:13 pm, shares of Jyoti Structures rose 2.54 per cent, Kalpataru Power climbed 0.8 per cent, KEC International added 1.61 per cent and Power Grid Corp was up 0.58 percent.
Education cos gain on FM proposal for 20% higher education spending
Shares of Navneet Publications, NIIT, Educomp Solutions, Everonn Systems India and Aptech , which provide education services, extended gains after the Finance Minister proposed higher spending for education by 20 per cent in the union budget for 2008-09. Companies like Today’s Writing (2.23%) also posted smart gains on the announcement. At 11:40 am, shares of [...]
PSU banking stocks down on Union Budget 2008
The finance minister’s announcement of complete waiver of loans for marginal farmers with agricultural holding of 1-2 hectors of area proved a dampener for PSU banking shares with exposure to the rural sector.
At 12:02 pm, BSE Bankex fell 1.78 per cent with Allahabad Bank down 3.41 per cent, Andhra Bank (1.63%), Punjab National Bank (4.87%), [...]
Union Budget India 2008: Winning / Losing Sectors
This post will be updated all day today.
Higher Outlay For Polio, HIV Eradication; + ve Panacea Biotech & Cipla, Sun Pharma, Ranbaxy Labs
Educational sector: Employment pool for KPO’s will benefit IT sector, Infosys, TCS
20% Higher Outlay For Education; +ve Educomp, Everonn, Aptech, NIIT
CG Impex Board Bonus Issue
CG Impex Board to consider Bonus Issue on the meeting thats going to be held on March 4th 2008. More info on the bonus info will be out on March 4th 2008 itself.
