Daily Archives: Tuesday December 4th, 2018

Closing with the Sensex decline

Sensex ends down

Mumbai- The pressure of the sell-out in the market was clearly visible. The Sensex has closed down by 100 points. The Nifty has also closed close to 10870 with a slight weakness that means it is almost flat closed. On the other hand, before the RBI’s credit policy, there was a trend of weakness in the bank nifty.

Bank Nifty closed with a weakness of 150 points. The midcap index is also 0.25 percent broken. At the same time, the smallcap index closed with a modest gain of 0.08 percent. Due to the weakness in the market, bluechip stocks declined. Most heavy shares, including Reliance Industries (RIL), Hindustan Unilever, ITC, HDFC Bank and SBI, declined between 0.5% and 2%. Stock market red marks were closed by selling in all sectors except IT (IT).
In the top-end stocks, BPCL was the biggest climbing stock with a gain of 3% in the Nifty 50. Indiabulls Housing Finance recorded a gain of 2.64 per cent. Apart from this, there is an increase of 2 to 2.50% in UPL, ONGC and Infosys.

On the other hand, Sun Pharma was the top stock in the fall for the second consecutive day, with 2.74 per cent weakness. In addition, Mahindra & Mahindra saw 2.73 per cent, Grasim Industries at 2.18 per cent, HDFC 2.09 per cent and SBI 1.50 per cent. Between the trend of decline, good stocks were seen in the IT sector stocks. Wipro was 1.89 percent, Infosys 1.89 percent, HCL Tech at 1.85 percent, Tech Mahindra 1.45 percent and TCS 1.38 percent.

The date for transferring in the demat increased

stock market news

Mumbai-Capital Markets Regulator, Indian Securities and Exchange Board (SEBI) has extended the last date for the transfer of shares of listed companies to DMAAT on April 1, 2019. Its end date was going to end on December 5.

Explain that SEBI has taken this decision after considering the repatriation of shareholders. Keeping shares in demat will help in the maintenance of transparent records of shareholding of companies between concerns about the ownership of the profits of institutions.

In March, the board of SEBI had decided that, on the request of the transfer of securities except for the transmission or transition of securities, it will not be executed, if they are not in dematerialized form or in the demat at the depository. This order was to come into force on 5th December.

“We received a request from the shareholders to raise compliance date,” said in a statement. Keeping this in mind, the final date is being increased and the mandatory requirement for the transfer of shares in their demat form will be applicable from April 1, 2019.

50 percent increase in income tax return

stock market news

Mumbai-Income Tax Returns (ITR) filed in the year 2018-19 has registered an increase of 50 per cent so far in comparison to last year. A top finance ministry official said on Tuesday.

Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said differently from a CII program, “This is a ban on filing.” The ban on bonds has increased in the country. He said that this year we have got about 6.08 crore ITRs, which is 50 per cent more than the ITR that was available for this period last year. The CBDT chief said that so far the department has given a refund of Rs 2.27 crore, which is 50 percent more than the previous year.

Sushil Chandra said that the revenue department will achieve the direct tax collection target of 11.5 lakh crore during the current financial year. He said, “Our gross direct tax has increased by 16.5 per cent and net direct tax has increased by 14.5 per cent, which makes it clear that ban on bondage has helped increase tax, he said that the exchange of information Under 70 countries are sharing information with India.

The CBDT chief stressed, “To date, the total direct tax mop was 48 per cent of the budget estimate.Subh Chandra said that the number of corporate taxpayers has increased to eight lakhs due to the ban on bondage due to the ban on bondage. He told that the CBDT will soon begin e-panning within four hours, Chandra said that the department did not file returns and not getting returns from income Two million SMSes have been sent to the people.

 Indian companies will be able to directly market foreign markets

Mumbai- Indian companies will soon be able to raise money by getting listed directly on foreign stock exchanges. A top-level panel on Tuesday suggested the capital market regulator, Securities and Exchange Board of India (SEBI) to do so. The panel recommended that Indian companies be allowed directly in foreign exchange exchanges and foreign companies should be listed in India. Listing in foreign stock exchanges of companies made in India will make it easier to raise funds for them.

At present, Indian companies list their shares abroad through Global Depository Receipts (GDRs). While foreign companies list their shares in India by choosing the path of Indian Depository Receipt. Apart from this, Indian companies can list their debt securities directly in international exchanges through a securities transaction known as ‘Masala Bond’.

In its 26-page report, the committee suggested Indian companies to allow foreign companies to be listed directly in India. It was suggested that under the framework, the list of ‘approved areas’ should be allowed only on the stock exchanges. ‘Approved areas’ include those countries with whom a treaty has been signed to share information and support in case of any kind of investigation.