Stock Market News - Jet Airways all Time Low, HDFC AMC Falls

Jet Airways Falls - Shares of the cash-strapped airline slumped 10 percent intraday to hit an all-time low of Rs 61.60 each. Lenders of Jet Airways will take the company to National Company Law Tribunal and will seek resolution under the Insolvency and Bankruptcy Code, according to a statement issued on behalf of lenders on Monday.

HDFC AMC Falls - The Most In Six Months Shares of the asset management company fell as much as 6 percent, the most since Dec. 21, 2018, to Rs 1,816.60. In a move to rescue investors of its fixed maturity plans, the asset management company will purchase Essel Group companies’ non-convertible debentures of up to Rs 500 crore, thereby transferring any loss (or gain) due to the investment from investors to itself

Rupee Opens: The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.

Top Gainers & Losers - IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata Steel, Zee Entertainment are some of the major gainers on the indices, while losers are SBI, Yes Bank, Indiabulls Housing, HUL, and ONGC. Among the sectors, except FMCG all other indices are trading in the green led by metal, pharma, infra, auto, and bank.

Market Update -

1. Dabur slips over 4% after Goldman Sachs downgrades it to 'sell'

2. Reliance Home Fin slips over 7%

3. Mcleod Russel slips over 4% on rating downgrade - ICRA has downgraded ratings of the company

4. SpiceJet gains over 3%

Maharashtra Scooters Falls - After Bajaj Buys Majority Stake Shares of the auto-parts maker ended its seven-day gaining streak and fell 2.9 percent to 4,555 apiece. Bajaj Holdings paid Rs 222 crore to WMDC to acquire 27 percent stake in Maharashtra Scooters and hiked shareholding to 51 percent, according to an exchange filing.

Sandhar Technologies gains 2%: Sandhar Technologies gained 2.5 percent as the company signed a JV agreement with South Korean company.

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