The government has finally done what the market feared. Long-term capital gains (LTCG) has been imposed on equity markets. The logic behind doing this was a large portion of the investment in the market was done by corporates and LLP entities. In the Budget speech, finance minister Arun Jaitley said that the total amount of exempted capital gains from listed shares and units is around Rs 3,67,000 crore for the assessment year 2017-18.For an investor, the LTCG would mean that any investment sold after holding it for more than one year will now be taxed at a rate of 10 percent without giving any indexation benefits.This means that the profit generated by purchasing any stock held for more than a year will be taxed at 10 percent, provided the profit is more than Rs 1 lakh.Close Say for example an investment made on February 1 2018 for say Rs 500 and sold on or after February 1 2018 at a price higher than Rs 500 will be taxed. If the investment is sold at Rs 600, the profit generated is Rs … [Read more...] about LTCG on equities explained: How the 10% tax will impact your portfolio
2018 what to invest in
The Sensex and the Nifty closed the week with losses of about 1 percent. The Nifty, which hit a record high of 12,158 last week, failed to hold onto the momentum and closed with losses of 1.1 percent for the week ended December 6.Experts are of the view that selling was largely seen in the rate-sensitive pack after the RBI policy outcome. The consolidation may continue in the coming week as well, but 11,700-11,800 is likely to act as crucial support for the Nifty, they say.Below are the top 10 stocks which moved the most this week:Close Whirlpool, up 9% related news D-Street Buzz: Banks bleed led by YES Bank, RBL Bank, SBI; Omaxe tanks 20% Shakti Pumps shares fall 3% after CARE revises credit rating Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty The share price of Whirlpool gained over 9 percent for the week on consistently strong financial performance. A sharp gain in the market price has seen the company enter the list of top 100 companies with the … [Read more...] about Top gainers & losers: Top 10 stocks which moved the most this week, YES Bank tanks 18%
Securities and Exchange Board of India (SEBI), in an order dated December 6, 2019, revealed charging a show-cause notice on stakeholders of UTI Asset Management Company (AMC) - State Bank of India, Life Insurance Corporation, and Bank of Baroda on July 19, 2019, towards regulatory action.The market regulator directed three public sector financial institutions -- LIC, SBI, and Bank of Baroda -- to dilute their stakes to below 10 percent in by December next year.In the case of non-compliance with directions, the shareholding and voting rights of these entities in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits will be frozen till the time they comply with the orders.Close The stakeholding of SBI, BoB, and LIC in UTI AMC is in contravention of an amendment to SEBI MF Regulations on March 13, 2018, requiring an asset management company (AMC) to be a sponsor and stakeholder holding 10 percent or more, of only one mutual fund, thereby reducing cross-holding in any … [Read more...] about UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB?
Sakina MandsaurwalaPrecious metals continue to trade weak on account of overdue extended trade tensions between the US and China. Strong job growth data in the US highlights the resilience, indicating that US Fed Chairman Powell might keep policy unchanged in the upcoming FOMC meeting in December.In the base metal complex, except copper, all other metals continue their selling trajectory due to subdued demand. Copper prices traded positive with 2.5 percent post the US strong numbers, Adrawdown in inventory levels and on the encouraging China trade talk speculation.Close Both Nymex Crude and Natural gas closed higher with 2 percent gains. Crude oil remained supported as the OPEC+ nations surprised with additional cuts to avoid the oversupply in the global oil market while Nymex natural gas closed higher on the forecast of moderate weather next week. related news Trade deal optimism, positive China manufacturing data may limit further downside in Zinc How to evaluate your risk … [Read more...] about ‘OPEC move may help balance oil market; support for Nymex prices seen at $55/bbl’
The balance of football power in Manchester has swung comprehensively to City from United on the field and the Premier League champions are now on the verge of toppling their neighbours in the financial stakes as well. Despite failing to hit the heights of their past two title-winning campaigns, City host United on December 7 already 11 points ahead of their local rivals just 15 games into the league season.The Red Devils sit sixth, eight points adrift of the Champions League places, and facing a huge fight to get back into that highly lucrative competition next season.As City try and win the Champions League for the first time, having already booked their place in the last 16 for a seventh consecutive season, United's finances are suffering as they play Europa League football for the second time in four years.Close United posted record revenues of 627 million pounds ($818 million) for last season as they reached the Champions League quarter-finals and finished sixth in the Premier … [Read more...] about EPL: Manchester City flex financial muscle to leave neighbours United lagging behind