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Kelkar
on MFs
Mumbai:
Income
of the mutual fund derived from short-term capital gains
and interest should be taxed at a flat rate in the hands
of the mutual fund; dividends received by the unit holders
should be fully exempted since the distributable surplus
would have suffered the full burden of the tax.
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Bharat
Forge at year high
Mumbai: As the third quarter comes to end, select
market players have started accumulating shares of auto-ancillary
company Bharat Forge. The accumulation led the stock to
touch a new 52-week high of Rs 199.50 on the stock exchanges
on Friday.
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Investors
give thumbs up to VisualSoft's BPO proposal
Mumbai: Visualsoft Technologies has been witnessing
a strong upside on the bourses in the recent past, with
market expectations riding high on the company's new operations
as a software service provider bringing in good earnings
growth.
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Divestment
hopes lift HOCL
New Delhi: The Hindustan Organic Chemicals Ltd
(HOCL) counter was active yesterday on the Bombay Stock
Exchange and the National Stock Exchange, ahead of the
Cabinet Committee on Disinvestment meet, in anticipation
of a positive pronouncement regarding its disinvestment.
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Wall
Street closes lower on war fears
New York: US stocks fell on Friday, sending the
blue-chip Dow to a two-month low, as North Korea's decision
to expel UN nuclear inspectors sparked concerns about
a possible US conflict on two fronts.
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Reliance
Cap rises on Infocomm rollout
Mumbai: The Reliance Capital ruled firm on major
bourses on active trading. According to brokers and analysts,
the market is expecting that its leasing/financing business
will receive a boost from Reliance Infocomm's operational
rollout.
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L&T
gains on expectations of open offer
change
Mumbai: Larsen & Toubro (L&T) gained yesterday
on market rumours that the company might be de-merged
into three different businesses instead of the earlier
proposed de-merger of the cement division.
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SEBI
still has miles to go on Edifar
Mumbai: The Securities and Exchange Board of India
(SEBI) wants to increase by another 500 the list of companies
that would be required to file their annual reports in
electronic format with it.
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Re
at 13-month high; bonds rally
Mumbai: The rupee closed at a 13-month high of
47.9900/9950 against the dollar on Friday, breaching the
psychological barrier of 48.00, for the first time this
year.
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