Finance

India warns chronic defaulters of service tax

Chennai, Nov 09 (ANI): Union Finance Minister, P Chidambaram, has warned tax defaulters of service tax and urged the non-filers to take advantage of the scheme that waives interest and other penalties. The Finance Minister was speaking at an interactive session on Voluntary Compliance Encouragement Scheme (VCES) - 2013 in Chennai on Saturday and called on non-payers to come clean before December 31, 2013. Under VCES - 2013, an Indian government amnesty scheme, one is offered a chance to make onetime payment of service tax dues for the period of October 1, 2007 to December 31, 2012, without interest and penalty.

Nov 9, 2013

BSE closes points 179.10 down on November 8

New Delhi, November 8 (ANI): Trading at the Bombay Stock Exchange today closed 179.10 points down to stand at 20643.67. At the National Stock Exchange the Nifty closed 53.00 points down to stand at 6,134.25. Aurobindo Pharma and Indiabulls Real Estate were among the top gainers of Group A with an increase of 9.57% and 8.50% along with HDIL and Tech Mahindra with an increase of 5.59% and 5.56% respectively, while the top losers of Group A include Prestige Estates and Sun TV Network with a decrease of 7.09% and 6.42% along with United Breweries Ltd and Axis Bank with a decrease of 5.42% and 4.81% at the close of the markets. The Auto sector is down 79.42 points at 12,004.60, while the banking sector is down 198.62 points at 12,420.67 and the realty sector is up 16.01 points at 1,342.89. The Indian currency is down 0.35% at Rs 62.63 per dollar.

Nov 8, 2013

BSE closes points 82.73 down on November 7

New Delhi, Nov 07 (ANI): Trading at the Bombay Stock Exchange today closed 82.73 points down to stand at 20812.21. At the National Stock Exchange the Nifty closed 30.10 points down to stand at 6,185.05. Muthoot Finance and Wockhardt Ltd. were among the top gainers of Group A with an increase of 9.37% and 6.92% along with Tata Steel and Mangalore Refinery And Petrochemicals Ltd. with an increase of 4.30% and 3.95% respectively, while the top losers of Group A include Neyveli Lignite and Bank of Baroda with a decrease of 7.96% and 5.91% along with HPCL and Indiabulls Real Estate with a decrease of 5.57% and 5.56% at the close of the markets. The Auto sector is down 113.32 points at 12,094.51 while the banking sector is down 290.33 points at 12,601.29 and the realty sector is down 38.05 points at 1,324.52. The Indian currency is down 0.24% at Rs 62.54 per dollar.

Nov 7, 2013

BSE closes points 85.73 down on November 6

New Delhi, November 6 (ANI): Trading at the Bombay Stock Exchange today closed 85.73 points down to stand at 20889.06. At the National Stock Exchange the Nifty closed 38.00 points down to stand at 6,215.15. Neyveli Lignite and Torrent Power Ltd. were among the top gainers of Group A with an increase of 14.66% and 11.96% along with Motherson Sumi Systems Ltd. and Gujarat State Petronet with an increase of 5.04% and 5.00% respectively, while the top losers of Group A include Indian Bank and IRB Infra with a decrease of 8.00% and 6.61% along with Syndicate Bank and Federal Bank with a decrease of 5.53% and 4.80% at the close of the markets. The Auto sector is down 79.01 points at 12,207.84 while the banking sector is down 246.07 points at 12,891.62 and the realty sector is down 27.88 points at 1,359.73. The Indian currency is down 0.92% at Rs 62.19 per dollar.

Nov 6, 2013

BSE closes points 287.65 down on November 5

New Delhi, Nov 05 (ANI): Trading at the Bombay Stock Exchange today closed 287.65 points down to stand at 20951.71. At the National Stock Exchange the Nifty closed 71.90 points down to stand at 6,245.45. Jubilant Foodworks Ltd. and Torrent Power Ltd. were among the top gainers of Group A with an increase of 15.06% and 12.89% along with Shriram City University and IRB Infrastructure Developers Ltd. with an increase of 11.80% and 11.16% respectively, while the top losers of Group A include Shriram Transport Finance Company Ltd. and Gujarat Mineral Development Corporation Ltd. with a decrease of 5.11% and 4.41% along with Reliance Communications Ltd. and United Breweries Ltd with a decrease of 4.36% and 3.94% at the close of the markets. The Auto sector is down 45.10 points at 12,291.51 while the banking sector is down 160.23 points at 13,099.73 and the realty sector is up 1.95 points at 1,385.78.The Indian currency is up 0.07% at Rs 61.70 per dollar.

Nov 5, 2013

Dhanteras loses shine as high prices hit gold sales

New Delhi, Nov 02 (ANI): With high gold prices, curb on gold import and economic downturn, the much awaited festival of wealth, ‘Dhanteras’, failed to bring much trade to the jewellers who saw a low turnover of buyers this year. The Hindu festival, which is known to be auspicious for the purchase of precious metals, especially gold, witnessed a unlike slow business for the jewellery shop owners. Infact, unlike the usual trend on the day of this festival, the prices of the yellow metal declined throughout the day, reason being the low demand.

Nov 2, 2013

Current Account Deficit Target revised to $60 billion

New Delhi, Nov 01 (ANI): Union Finance Minister P Chidambaram on Friday said the country will have a bumper harvest and the Current Account Deficit will come down to $60 billion on back of rising exports and declining gold imports.

Nov 1, 2013

BSE closes points 13.83 up on November 1

New Delhi, November 1 (ANI): Trading at the Bombay Stock Exchange today closed 13.83 points up to stand at 21,178.35. At the National Stock Exchange the Nifty closed 8.05 points up to stand at 6,307.20. Indian Bank and HDIL were among the top gainers of Group A with an increase of 10.44% and 10.21% along with Apollo Tyres and Union Bank with an increase of 8.58% and 8.30% respectively, while the top losers of Group A include Glenmark Pharma and United Breweries Ltd with a decrease of 4.02% and 3.91% along with Sobha Dev and Power Grid Corporation with a decrease of 3.69% and 3.11% at the close of the markets. The Auto sector is up 146.01 points at 12,220.9 while the banking sector is up 164.4 points at 13,251.33 and the realty sector is up 34.22 points at 1,377.69. The Indian currency is down 0.62% at Rs 61.88 per dollar.

Nov 1, 2013

Sensex at historic high, yet euphoria missing in market: Market Expert

Mumbai, Nov 01 (ANI): Even as the Sensex hit all-time high after five years and ten months on Friday, Market Experts say euphoria was still missing in the market, and that its value post Diwali will determine the state of things for future.

Nov 1, 2013

Sensex hits all-time high

New Delhi, Nov 01 (ANI): The Sensex has hit all-time high after five years and ten months on Friday. The stock index surged to an all-time high just after the opening bell, smashing its earlier record of 21,206 which was set in January 2008. After breaking its 2008 record, the Sensex kept going up, setting a new all-time high record of 21,279.92, up nearly 115 points. At its day's high, Nifty hit 6,329, nearly 30 points away from its record high of 6,357.10. Sustained inflows from foreign investors have been the biggest driver for the Sensex, which gained over 9 percent in the past month. Overseas investors have pumped in close to Rs. 18,000 crore in the past 20 sessions.

Nov 1, 2013

BSE closes points 107.83 up on October 31

New Delhi, October 31 (ANI): Trading at the Bombay Stock Exchange today closed 107.83 points up to stand at 21141.80. At the National Stock Exchange the Nifty closed 47.45 points up to stand at 6,299.15. Bank of India and Oriental Bank were among the top gainers of Group A with an increase of 21.26 % and 18.01% along with Allahabad Bank and Indian Bank with an increase of 13.34% and 13.33% respectively, while the top losers of Group A include Suzlon Energy and Prestige Estates with a decrease of 4.90% and 3.82% along with Wockhardt and Sobha Dev with a decrease of 3.72% and 3.51% at the close of the markets. The Auto sector is down 3.60 points at 12,074.90 while the banking sector is up 248.13 points at 13,086.92 and the realty sector is up 9.54 points at 1,343.47. The Indian currency is down 0.29% at Rs 61.41 per dollar.

Oct 31, 2013

Hike diesel prices by Rs 5, recommends Kirit Parikh panel

New Delhi, Oct 30 (ANI): The Kirit Parikh panel on Wednesday submitted a report to the Oil Ministry recommending a Rs 5 per litre hike in diesel price with immediate effect. The report further limits subsidised cylinders from the present 9 to 6 cylinders per annum to each household, with a hike of Rs 250 per cylinder.

Oct 30, 2013

BSE closes points 92.89 up on October 30

New Delhi, October 30 (ANI): Trading at the Bombay Stock Exchange today closed 92.89 points up to stand at 21021.90. At the National Stock Exchange the Nifty closed 30.80 points up to stand at 6,251.70. Financial Technologies and Tata Communications were among the top gainers of Group A with an increase of 10.60% and 10.26% along with and Shriram Transport Finance Company Ltd. And Torrent Power with an increase of 7.83% and 7.74% respectively, while the top losers of Group A include Suzlon Energy and IDBI Bank with a decrease of 4.94% and 4.10% along with Bank of India and Oriental Bank with a decrease of 4.10% and 3.94% at the close of the markets. The Auto sector is down 9.32 points at 12,067.71 while the banking sector is down 6.11 points at 12,824.95 and the realty sector is up 6.21 points at 1,333.86. The Indian currency is down 0.15% at Rs 61.40 per dollar.

Oct 30, 2013

BSE closes points 352.42 up on October 29

New Delhi, Oct 29 (ANI): Trading at the Bombay Stock Exchange today closed 352.42 points up to stand at 20,922.70. At the National Stock Exchange the Nifty closed 119.80 points up to stand at 6,220.90. Mahindra and Mahindra Financial Services Ltd. and Maruti Suzuki were among the top gainers of Group A with an increase of 9.26% and 8.85% along with HDIL and Century Tex with an increase of 7.61% and 7.42% respectively, while the top losers of Group A include Suzlon Energy and Bharti Infratel with a decrease of 4.96% and 2.59% along with Muthoot Finance Ltd. and United Brew-$ with a decrease of 2.39% and 1.81% at the close of the markets. The Auto sector is up 289.56 points at 12,079.58 while the banking sector is up 550.81 points at 12,846.95 and the realty sector is up 31.59 points at 1,327.65. The Indian currency is up 0.14% at Rs 61.39 per dollar.

Oct 29, 2013

RBI raises repo rate by 25 bps to 7.75%, holds CRR

New Delhi, Oct 29 (ANI): In a bid to anchor inflationary expectations, the Reserve Bank of India on Tuesday hiked the repo rate by 0.25 percent to 7.75 percent in its second quarter monetary policy review. It however, slashed the Marginal Standing Facility (MSF) rate by 0.25 to 8.75 percent. The RBI has left the Cash Reserve Ratio (CRR) unchanged at 4 percent.

Oct 29, 2013