Market Update - Bharti Airtel down 4%, SBI Life Falls 12%, Sensex gains 200 pts

Bharti Airtel shares slumped by nearly 4% to hit Rs 305.55 on NSE after the firm finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt.

Over the last 30 days, the BHARTI AIRTEL share price is up 2.3%. And over the last one year, BHARTI AIRTEL share price is down 27.0%.

SBI Life Falls 12% - After 35 Block Deals Shares of SBI Life Insurance fell as much as 12.1 per cent, the worst fall since its listing on Bombay Stock Exchange, to Rs 510. About 7.88 crore shares or 7.9 per cent equity of the company changed hands in 35 block deals on BSE.

Market Opening: Benchmark indices started off the last day of the week on a strong note after three-day fall. Likely de-escalation between India and Pakistan after Pakistan Prime Minister announced that his country will release captured IAF Wing Commander lifted sentiment. The 30-share BSE Sensex rallied 223.53 points to 36,090.97 and the Nifty50 rose 63.80 points to 10,856.30 on the first day of March series.

Rupee - The Indian rupee has opened marginally lower at 70.74 against the US dollar, against Thursday's close of 70.72 a dollar.

Escorts Sales Rise 12% - Escorts Ltd. sold 7,240 tractors last month, an increase of 12 per cent from the year-ago period, according to its exchange filing. Domestic tractor sales in February 2019 at 6,918 tractors increased 9.9 per cent against 6,295 tractors in February 2018. Export grew by 92.8 per cent to 322 tractors against 167 tractors sold in February 2018.

Source

Comments

Stock Market News - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

A salaried professional opting for a lower rate of tax under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. Removal of tax exemptions under Section 80C in the new tax regime could be a dampener for life insurance products as well as equity-linked savings schemes (ELSS) of mutual funds. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman said a salaried professional opting for a lower tax rate under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. “The removal of 80C benefit may pose a risk to new business volumes of life insurance companies,” said Kotak Institutional Equities in a report. Life insurance Tax exemptions are an important incentive for purchase of life insurance. To be eligible for exemption under Section 80C, the sum assured has to be 10 times the annual premium. This is part of the Rs 1.5 lakh limit under ...

Stock Market News - FDC share price at 52-week high on GMP certificate from UK health regulator

The certificate came after a recent inspection of the company's facilities in Goa. FDC share price touched a 52-week high of Rs 222, rising more than 5 percent in the morning trade on January 3 after the company received the good manufacturing practice (GMP) certificate from the UK's health regulator. The UK's Medicines and Healthcare Products Regulatory Agency also continued with its approved status for the company's two facilities in Verna, Goa. The GMP certificate was issued after a recent inspection of the two plants. At 1018 hours, FDC was quoting at Rs 218.00, up Rs 7.30, or 3.46 percent. The share price has risen 30 percent in the last three months. GNFC share price down 2% after DoT seeks Rs 15K cr in telecom dues DoT sent the company a demand notice for Rs 15,019 crore, taking to Rs 3.13 lakh crore the amount it has sought from non-telecom companies following a Supreme Court ruling. The share price of Gujarat Narmada Valley Fertili...

Budget 2019 : LTCG Tax, GST, Home Loans, farmer income scheme needs to be focus

Budget 2018 was the last full-fledged budget presented by the government led by Narendra Modi. Long Term Capital Gains (LTCG) tax on profit earned from the sale of equity shares listed on a recognized stock exchange in India. The LTCG tax was re-introduced after a time gap of 14 years. The provisions were closely followed since they impacted the majority of taxpayers of the country. The tax was levied at the rate of 10 per cent (plus applicable surcharge and cess) while providing relief from gains accrued up to January 31, 2018, i.e., a mechanism was derived wherein the stock price as on 31 January 2018 was considered as the deemed cost, provided it is beneficial to the taxpayer. Following are some of the illustrative points: Treatment of compulsorily convertible instruments – The current provisions do not provide clarity on the cost to be adopted for the purpose of computation of capital gains in case of instruments that are compulsorily converted into equity sh...

Market Daddy | Share Bazar Live | Share Market News

Search This Blog