Daily Market Analysis – 10th Feb 2021
Reliance Jio, Bharti Airtel & Vodafone Idea apply to bid in spectrum auctions: Telecom Market leaders Reliance Jio, Bharti Airtel and Vodafone Idea have filed applications for participation in the upcoming 4G spectrum auctions which are due to start on March 1, 2021. The auction for over 2300 MHz of airwaves, valued at Rs 3.92 lakh crore at base price, though is likely to see limited...
Daily Market Analysis – 9th Feb 2021
Adani Group checks into Mumbai Airport by acquiring 23.5% stake; on way to 74% ownership of MIAL The Adani Group has formally checked into Mumbai International Airport Ltd. by acquiring a 23.5 %stake in it held by two foreign firms ACSA and Bid Service Division Mauritius Ltd (Bidvest) Rs 1685.2 cr.Adani Group is going to acquire a 74% stake in MIAL, by getting the right to develop the...
Daily Market Analysis – 5th Feb 2021
Will tax on PF interest also cover contribution to PPF account? Budget 2021 has proposed to levy income tax on interest earned by an employee/person on his/her contribution in excess of Rs 2.5 lakh in a financial year to a provident fund. It appears that tax will apply to the interest earned on contributions made to Employees’ Provident Fund (EPF), Voluntary Provident Fund (VPF) as...
Daily Market Analysis – 4th Feb 2021
RBI brings large NBFCs, UCBs under risk based audit system The Reserve Bank of India (RBI) has brought all deposit-taking non-banking finance companies (NBFCs), non-deposit NBFCs with assets of Rs 5000 crore and more and also urban co-operative banks (UCBs) with assets of Rs 500 crore and above under a risk-based internal audit (RBIA) framework. The risk assessment framework covers...
Daily Market Analysis – 3rd Feb 2021
Is VPF still a well fixed income investment? Want to reduce your taxation smarter?VPF will give a person (in the 30% tax bracket) a 5.8% return post taxes. For smarter taxation options – pull out your EPF money (taxable interest component) at the age of 61 when your income would not be in the 30% bracket. Tata consumer products acquired 100% of the issued and paid-up equity share...
Daily Market Analysis – 2nd Feb 2021
Budget 2021 May Dent Retirement Savings as PF Interest Above a Certain Limit to Get Taxable The budget has plugged a major tax leak by placing a cap on the Provident Fund contribution that will earn tax-free income. A lot of people contribute huge sums to the Provident Fund every month to gain tax-free interest. Now that has been capped at Rs 2.5 lakh a year. Interest earned on Provident...
Daily Market Analysis – 29th Jan 2021
Sundaram AMC to take over Principal Mutual Fund in India: Sundaram Asset Management Company Limited has announced the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd. Sundaram will acquire the schemes managed by Principal Asset Management and acquire 100% of the share capital of Principal AMC. Sundaram Mutual has over Rs 40,000 crores in assets under...
Daily Market Analysis – 28th Jan 2021
SEBI to reduce minimum application size: India’s capital and commodity markets regulator is in talks to cut down the minimum application size for IPOs from Rs 15,000 to Rs. 7,500 in an attempt to provide higher subscriptions to retail investors. SEBI has received several complaints from retail investor associations that retail investors are unable to get IPO subscription in most of the...
Daily Market Analysis – 27th Jan 2021
Soon government nod to vehicle scrapping policy: Union Minister Nitin Gadkari said on Friday, that the much-awaited policy to scrap 15 years old vehicles is likely to get a government nod soon. The policy is for the scrapping of vehicles that are more than 15 years old and includes cars, trucks, and buses. This policy boosted the automobile sector by phasing out old and polluting vehicles....
