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Dividend
tax, capital gains tax to go — Capital markets get
a lift
New Delhi: In a move that is designed to boost
the capital markets, the finance minister, Jaswant Singh,on
Friday announced the withdrawal of dividend tax at the
hands of shareholders and abolishment of long-term capital
gains tax.
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Dividend,
tax gains for MF investors
Mumbai: While returns earned on the growth option
will be subject to a 10 per cent (long-term capital gains)
tax, the returns earned by way of dividends will be subject
to a higher 12.5 per cent tax.
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Funds
welcome pension reforms
Mumbai: The Union Budget is a major booster for
asset management companies that are willing to venture
into pension funds.
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Volatile
stocks, unaffected Sensex
Mumbai: Stock prices witnessed see-saw movements
on Friday even as stockbrokers and analysts said that
the Jaswant Singh Budget is growth-oriented and market
friendly.
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Reaction
of the stocks to the talk
Mumbai: A look at the narrow movement of the Bombay
Stock Exchange's Sensex (a market breadth of just 46.94
points between the Sensex's high of 3316.74 and the low
of 3269.80), suggests that the market was indifferent
to the Budget.a close look at the individual stock price
movements shows the reaction was immediate to the Budget
announcements.
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Huge
block deals on HDFC Bank
Mumbai: HDFC Bank on Friday witnessed huge volumes
on the BSE. The traded quantity in the counter shot up
to 1,02,10,783 shares from Thursday's volumes of just
14,437 shares on the BSE. The price did not move up sharply;
the stock closed at Rs 249.85 (Rs 248.45), after touching
a high of Rs 252.5.
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Gilts
untouched by higher borrowing plan
Mumbai: The gilts market does not seem to have
been deterred by the 3.8 per cent increase in the Centre's
budgeted gross market borrowings, which are estimated
to touch Rs 1,65,887 crore in 2003-04.
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Repo
rate cut revs up bond market
Mumbai: In euphoric trading, bond prices shot up
by over Rs 6 across some maturities, following an unexpected
50 basis point cut to 5 per cent in the repo rate by the
RBI.
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