Stock Market News- Hexaware Technologies gains, Gruh Finance Falls 7%

Hexaware Technologies gains 2% - on the acquisition: Hexaware Technologies Inc., a wholly owned subsidiary of Hexaware Technologies, India has acquired 100% shares of Mobiquity Inc. and Hexaware Technologies has acquired 100% shares of Mobiquity Softech.

Gruh Finance Falls 7% - After Block Deal Shares of Gruh Finance fell as much as 6.9 percent, the most in nearly a month to Rs 286.05. About 3.08 crore shares or 4.2 percent equity of the company changed hands in multiple block deals.

Adani Gas Jumps - The Most In Over A Week Shares of Adani Gas rose as much as 6.7 percent, the most since June 03, to Rs 180. Total SA is advancing on a deal to acquire a 30 percent stake in city gas distribution (CGD) company Adani Gas for over $800 million, or upwards of Rs 5,500 crore.

Kalpataru Power Gets Its Most Bullish Price Target Yet - Shares Swing Kalpataru Power Transmission just got its most bullish target price ever. Shares of the power transmission company could reach Rs 670, broking firm PhillipCapital said in a research report.

Wockhardt Gains - After FDA Boost Shares of Wockhardt rose as much as 3.7 percent to Rs 397.35. The company received zero Form 483 observation from the U.S. FDA after it had carried inspection of Bioequivalence Centre in Aurangabad, during which Tamsulosin and Metoprolol drugs were audited according to its statement on the exchanges.

IndusInd Bank, Bharat Financial Fall - After NCLT Approves Merger Shares of IndusInd Bank fell as much as 2.2 percent to 1,456, while shares of Bharat Financial Inclusion fell as much as 2.2 percent to 920. Bharat Financial, in stock exchange notification, said that the company received merger approval from National Company Law Tribunal with IndusInd Bank.

Jet Airways slumps 11 percent - Shares of debt-ridden airline Jet Airways tumbled more than 11 percent in the early morning trading session on BSE. Its share is currently trading at 81.25 per share, 10.70 points down than the previous close.

RITES gains 6% to Rs 295 on bonus issue plan announcement RITES shares rallied 6 percent to Rs 295 on the BSE on Friday in early morning deal after the company said its board will meet on June 24, 2019, to consider bonus issue proposal.

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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...

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