Market - Bharti Airtel gains,ITI Jumps over 9%,Asian Paints Falls

Bharti Airtel gains - Bharti Airtel shares are trading 1.2% higher at Rs 358.40, while Lakshmi Vilas Bank shares slumped by nearly 4% lower at Rs 93.60 on NSE after the RBI said that it has not given the approval to proceed with Indiabulls Housing Finance merger.

Bharti Airtel, Zee Entertainment, HCL Tech, Wipro, HUL, Britannia Industries are trading with marginal gains, while lowers are Dhanlaxmi Bank, Asian Paints, BPCL, Sun Pharma, Gail, Kotak Mahindra Bank, Tata Motors HCPL and IOC. Among sectors, auto, bank, energy and pharma are witnessing some selling pressure, while buying seen in the metal and FMCG stocks.

Rupee Opens: The Indian rupee opened marginally higher at 69.59 per dollar on Tuesday versus previous close 69.67.

Infosys Surges To Record - Shares of Infosys extended gains for the second consecutive trading session and rose as much as 0.75 per cent to hit an all-time high at Rs 773. The stock advanced 36 per cent in the past 12 months compared to a 15 per cent gain in the Sensex. Infosys traded at 21 times its estimated earnings per share for the coming year.

Asian Paints Falls - After Reporting Fire Accident, CLSA Downgrade Shares of the paintmaker fell as much as 2.9 per cent to Rs 1,470. The company said a fire broke out in its Vishakhapatnam facility in Andhra Pradesh, in an exchange filing. The company said it was in the process of assessing the extent of damage and manufacturing operations of the plant were affected.

ITI Jumps - After Turnover Rises 20% In FY19 Shares of ITI rose as much as 9.4 per cent, the most since Jan. 21, 2019, to Rs 106.90. The company reported a turnover of Rs 2,051.59 crore during 2019-20, an increase of 20 per cent from the year-ago period, according to its stock exchange filing.

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

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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...

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