Developing attraction

In an interview with CNBC-TV18, Samir Arora, Founder & Fund Manager at Helios Capital gave his take on Arun Jaitley's Union Budget 2018 and his outlook on the road ahead.Long-term capital gains (LTCG) tax should be paid but at the same time, people should not say that it does not matter. Nobody minds LTCG if that is what you want but please also admit that it matters. It is wrong to say that imposition of LTCG tax doesn’t affect investors, he said.According to him, India is growth and therefore nobody can live without it.Close India should now, unfortunately, underperform global peers, emerging market peers by 5-10 percent, he added.Samir AroraFund Manager|Helios Capital Management 'If there is no fiscal expansion in Budget, market will fall'India did better than expected given PNB scam, LTCG tax: Samir AroraYear 2018 will be much tougher for the market than 2017: Samir AroraRally in India is driven by strong US market, he further mentioned.Speaking of money flow, he said … [Read more...] about LTCG will hurt FII behaviour; will make India underperform other EMs, says Samir Arora

Yes Bank may not give its approval for Blackstone Group's buyout of Coffee Day Group's Global Village Technology Park, Mint reports.Coffee Day Group promoters have a debt of around $1 billion, the report said. The proposed Rs 2,800-crore sale of Global Village Technology Park is expected to help the group service some of its debt.Yes Bank is the single-largest lender to Coffee Day Group, with an exposure of Rs 1,500 crore, the report said.Close “Almost all statutory approvals, including the Karnataka government’s nod, have come, except for Yes Bank’s NOC (no-objection certificate)," a source told the paper. related news Nearly 500 CCD outlets shut down across India since April: Report Coffee Day Enterprises executes definitive agreement with Blackstone Group for tech park sale at Rs 2700 crore Blackstone Group signs definitive agreement for Coffee Day's tech park: Report Moneycontrol could not independently verify the report.Yes Bank, Coffee Day … [Read more...] about Coffee Day lender Yes Bank may block Blackstone deal: Report

Even as reports hinted that Yes Bank would reject Canadian industrialist Erwin Singh Braich's $1.2 billion bid in favour of institutional investors, Bloomberg has reported that Briach's claims may be under question.The offer from Braich and Hong Kong-based SPGP Holdings had been expected to make up a bulk of Yes Bank's $2 billion fundraising plans but was clouded by concerns over certain foreign bidders being disallowed to acquire a stake in the bank by the Reserve Bank of India (RBI).It has now emerged that Braich is allegedly involved in numerous lawsuits with creditors and family members.Close Moneycontrol could not independently verify the report. related news Anti-diabetes drug Vildgliptin to become 80% cheaper Hyundai to increase vehicle prices from January Aditya Birla Fashion gets board nod for appointment of Himanshu Kapania as Vice Chairman Braich told Bloomberg he had the funds and had been "under the radar" with "a lot of different holdings and assets” that … [Read more...] about Yes Bank bidder Erwin Singh Braich has history of bankruptcy, questionable business deals: Report

Share prices of insurance companies rallied 2-8 percent in the morning trade on December 10 after a media report said that the government may raise the foreign direct investment (FDI) limit in the sector.HDFC Life Insurance Company, SBI Life Insurance Company and ICICI Prudential Life Insurance Company gained more than 2 percent each, while General Insurance Corporation of India climbed 4 percent and New India Assurance Company rose 7.8 percent."The government may raise the overseas investment limit in insurance to 74 percent in the February budget, up from 49 percent now, possibly paving the way for foreign control of companies," The Economic Times quoted people with knowledge of the matter as saying.Close The Insurance Regulatory and Development Authority of India (IRDAI) sought the views of stakeholders in a December 2 letter on the direction of the government. The letter, to insurance companies and others, has called for suggestions on raising the FDI … [Read more...] about Insurance stocks gain 2-8% on report of likely increase in FDI limit

Aditya Birla Fashion and Retail Ltd on Tuesday said that its board has approved the appointment of Himanshu Kapania as vice chairman of the company with effect from January 1."The board of directors vide their resolution dated December 10, 2019, has approved the appointment of Himanshu Kapania as an additional (non-executive) director and vice-chairman of the company wef January 1, 2020, liable to retire by rotation," the company said in a regulatory filing.The development is subject to the approval of the shareholders at the ensuing thirteenth annual general meeting of the company, the filing said.Close Kapania, an alumnus of IIM Bangalore and BIT Mesra, is the former Managing Director of erstwhile Idea Cellular renamed 'Vodafone Idea Ltd' after merger with Vodafone India and is presently on the board of the new mobile company. related news AGR imbroglio | DoT asks telcos to pay dues on time, clear doubts by Dec 13: Report Anti-diabetes drug Vildagliptin to become 80% … [Read more...] about Aditya Birla Fashion gets board nod for appointment of Himanshu Kapania as Vice Chairman