| Professional
News |
| INCOME
TAX |
| Finance ministry may amend I-T law to
spare Vodafone-like deals from penalty, interest on
taxes |
|
Maharashtra : The finance
ministry is considering amending the income-tax act empowering
the tax authorities to spare companies from paying penalty as
well as interest on taxes levied on indirect transfer of
Indian assets through sale of shares abroad.Tax experts say
the measure, if incorporated in the upcoming budget, will be
applicable to a clutch of transactions carried out in recent
years, notably Vodafone's acquisition of Indian telecom major
Hutch Essar, Foster Australia's sale of its Indian arm to
SABMiller and the acquisition of Idea CellularBSE -1.45 % by
the Aditya Birla group.Senior officials in the tax department
confirmed that a change in the income-tax act was being
considered.
|
| GST |
| Centre, states reach consensus on
GST, raise hopes of early rollout |
|
Delhi : The Centre and state
governments on Tuesday reached a broad understanding on the
structure of the proposed goods and services tax (GST),
raising hopes of an early rollout of the UPA government's
ambitious indirect tax reform. The central government has
agreed to drop the contentious dispute settlement body in the
Constitutional Amendment Bill and also decided on a partial
rollout of GST, giving states the flexibility to join or exit
the framework. The key BJP-ruled states, however,
|
| Petro products likely to come under
Goods, Services Tax net |
|
Delhi : After an agreement
on the compensation issue, States have been given the freedom
to time their entry into the Goods and Services Tax (GST)
fold. At the same time, the Centre and States have agreed not
to Constitutionally debar petroleum products from the ambit of
GST.These were some of the outcomes on the second day of the
meeting of the Empowered Committee of State Finance Ministers
in Bhubaneswar. However,
|
| RBI |
| RBI plans bonds to contain gold
rush |
|
Maharashtra : The Reserve
Bank has said that it is planning to float inflation-indexed
bonds, which can curtail demand for physical gold and ease
trade imbalances, since imports of the yellow metal widen the
trade deficit that in turn increases the current account
deficit."The attraction to float inflation-indexed bonds is to
wean investors away from gold. So, if we have to provide an
instrument which yields inflation-indexed returns, this is the
most straightforward asset, but we will have to engage both
the government and banks," said RBI Governor D Subbarao on
Tuesday.
|
| Equity plunge while debt funds surge
amid RBI policy review |
|
Delhi : Equity Funds plunged
as markets ended in the red after an intra-day spurt on policy
rate cuts by the Reserve Bank of India. None of the funds in
Equity and Hybrid domain could withhold market pressure and
were seen with negative returns.The broader market space Large
Cap, Small & Mid Cap, and Index funds lost the most while
only the defensive sector - FMCG posted gains.The market
failed to cheer the RBI's decision to reducing key interest
rates by 0.25 per cent and releasing Rs 18,000 crore
additional liquidity into the financial system. The market
session closed with Sensex at 19990.90, down 112.45 and Nifty
at 6049.90, down 24.90 points.
|
| RBI to pause in Mar, Budget won't be
populist: Chetan Ahya |
|
Delhi : Chetan Ahya, MD at
Morgan Stanley rooted for lower CPI (consumer price index)
numbers to establish a case for further rate cuts. At this
point, policy reforms from New Delhi are more meaningful than
monetary policy action. "Investors will be more comfortable
with macro stability and quality if growth." The Reserve Bank
had eased the policy rate by 25bp and injected more liquidity
by lowering the cash reserve ratio by the same amount on
Tuesday last. This is the first policy rate cut since April
2012.Speaking to CNBC-TV18,
|
| RBI rate cut: Governor D Subbarao
obliges for now, but future not so
promising |
|
Maharashtra : RBI Governor
DuvvuriSubbarao met markets more than half way by lowering the
benchmark interest rate and banks' cash reserve ratio, but
declined to say if the move heralded the beginning of a lower
interest rate cycle. The reduction in two key variables could
lead to lower borrowing costs, although bankers caution it may
not be too much given the fight among banks for deposits that
is raising their cost of funds. The lower rates may ease the
pinch for corporates, but again not significantly enough for
them to dust off their investment plans or build new
factories.
|
| Finance & Money
Markets |
| Dalal street takes profit home, but
bond market lives it up |
|
Maharashtra : Stock markets
rose initially after RBI cut the cash reserve ratio (CRR) in a
surprise move along with a repo rate reduction, but fell as
traders booked profits after the apex bank's policy stance
indicated further interest rate cuts would be incumbent upon a
moderation of inflation and current account deficit. The
Sensex, which has risen by close to 3% this year largely on
expectations of a rate cut, declined by 0.56%, or 112.45
points, to 19990.9 on Tuesday, after the policy statement was
released. The broader, Nifty index corrected by 0.41% to
6049.9 points. Bank Nifty fell by almost half a percent on
profit-taking.
|
| Q3 results have more positive
surprises than disappointments |
|
Maharashtra : In the third
quarterly earnings of India Inc for fiscal 2013 there are more
positive surprises than disappointments in the results
declared so far. About 46 per cent of the companies have
reported profit numbers which are better than street
expectations versus 38 per cent of the companies who have
delivered profits lower than expectations.In terms of revenues
about 41 per cent of companies have beaten market expectations
and only 24 per cent have missed earnings expectations. This
is according to data of BSE 100 companies compiled by
Barclays, a leading global brokerage firm.
|
| Commodities |
| Gold assets set for biggest monthly
fall since December 2011 |
|
Delhi : Gold holdings in
exchange-traded products (ETP) are poised for the biggest
monthly decline in more than a year as global economic
recovery curbed demand for the metal. Assets contracted 0.8%
so far in January, the largest decrease since December 2011,
according to data compiled by Bloomberg.The holdings, which
reached a record in December,
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|
![]() |
| Economy |
| India |
| Rupee ends higher at 53.77 on rate
cut |
| CCI maiden meet today to fast track major infra
projects facing hurdles |
| Government puts on hold plans to list state-run
insurers |
| PM-led panel said to mull freeing $16-bn oil
projects |
| Post diesel price hike: Bulk buyers pump up
sales, but the trend may not last long |
| India pushes for trade boost as Pak plays
truant |
| |
| International |
| Brent holds above $114 on strong US
data |
| Japan govt okays $1.02-trn draft budget for
’13-14 |
| Tough economy fuels growth of fast-food
restaurants in Victoria |
| |
| Markets
Today |
| NSE |
6,055.75
|
0.10%
|
| BSE |
20,005.00
|
0.00%
|
| NASDAQ |
3,153.66
|
-0.02%
|
| |
|
|
| USD |
53.26
|
|
| EURO |
72.18
|
|
| JPY(100) |
58.34
|
|
| GBP |
83.95
|
|
|
| |
| Corporate
Watch |
| Disney UTV, TV 18 in content pact to
provide 35 channels across cable, DTH & HITS platforms in
India |
|
Maharashtra : The TV18 group and
Disney UTV are forging an alliance for content aggregation and
distribution, adding to the growing list of such partnerships
in the highly competitive broadcasting sector.The two media
companies, which offer a bouquet of channels such as Colors,
MTV, Comedy Central and UTV Bindass, Stars,
|
| Amara Raja Batteries to spend Rs 440 cr for
capacity expansion |
|
Tamil Nadu : Amara Raja Batteries,
country's leading industrial and automotive battery major, is
planning to invest R440 crore to ramp up capacity in 16 to 18
months. The company’ 26% equity, each from Galla Family and
Johnson Controls, US,
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|
|
|
Delhi : Tata Motors-owned Jaguar
Land Rover plans to hire over 500 engineers and designers by
March 2013, taking the total strength of R&D people to
over 5,500, to support its new product development programme.
|
| |
| Tenders
& Assignment |
Department Of Horticulture And Food
Processing ![]() |
Description :Expression of Interest for
Appointment of Chartered Accountant Firms for Audit of Records
under Horticulture Mission for North East & Himalayan
Stats
Last Date : 03/02/2013
Address :Department Of Horticulture
And Food Processing Dehradun.Uttaranchal
|
Bhopal Cooperative Milk Federation
Limited ![]() |
Description :Requirement of chartered
accountant firms
Last Date :
05/02/2013
Address :Madhya Pradesh
State Cooperative Dairy Federation Ltd.Dugdha Bhavan,
Habibganj, Bhopal
Phone : 0755-2478250
E-Mail :bsds@sancharnet.in
|
Department Of Agriculture ![]() |
Description :Required carryout the Audit
of Centrally Sponsored national Food Security Mission &
Accelerated Pulses Production Programme Schemes in all 21
Districts & State Headquarters for the year 2011-12
Last Date : 07/02/2013
Address :Directorate Of
Agriculture,Haryana
Krishi Bhawan,Sector-21,Panchkula
E-Mail :agriharyana2009@gmail.com
|
Jaipur Vidyut Vitaran Nigam Limited ![]() |
Description :Request for Proposal to
Conduct Revenue Audit
Last Date :
26/02/2013
Address :Jaipur Vidyut
Vitaran Nigam Limited
Room No.1/11.Vidhyut
Bhawan,Janpath,Jyoti Nagar Jaipur
Phone
:0141-2740264
E-Mail :caoia.jvvnl@gmail.com
|
Department Of Local Self Government ![]() |
Description :Expression of Interest for
Appointment of Chartered Accountant for Audit work by Accrual
base double entry accounting system
Last Date
: 01/03/2013
Address
:Department Of Local Self Government Jaipur,Rajasthan
|
| |
| Reminders |
| Tenders |
| Central Co-operative Bank
Limited 31/01/2013
|
| Madhya Pradesh Power Generation Company
Limited 31/01/2013
|
| Sardar Sarovar Narmada Nigam
Limited 02/02/2013
|
| Bihar Rural Livelihoods Promotion
Society 05/02/2013
|
| |
| Notifications
& Circulars |
| RBI |
| Notification
No.RBI/2012-13/398 (Delhi) 29/01/2013
|
| Liquidity Adjustment Facility – Repo and Reverse Repo and
Marginal Standing Facility Rates |
| notification No
RBI/2012-13/399 (Delhi) 29/01/2013
|
| Know Your Customer (KYC) Norms /Anti-Money Laundering
(AML) Standards/Combating of Financing of Terrorism
(CFT)/Obligation of banks under Prevention of Money Laundering
Act (PMLA), 2002 |
| Notification
No.RBI/2012-13/400 (Delhi) 29/01/2013
|
| Standing Liquidity Facilities for Banks and Primary
Dealers |
| Notification
No.RBI/2012-13/401 (Delhi) 29/01/2013
|
| Maintenance of Cash Reserve Ratio (CRR) |
| Notification
No.RBI/2012-13/402 (Delhi) 29/01/2013
|
| Bank Rate |
| |
|
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