T'I am not going to buy small- or mid-cap stocks at very high valuations if it doesn't make sense for the investors.'
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
China is the world's second-largest - both in terms of GDP and m-cap. At $10 trillion, its m-cap is second only to the US at $38 trillion.
Several brokers used shares of dormant or inactive clients to provide margins for other more active clients. This prompted Sebi to rework its entire system of pledging.
Market players said the new norms were more suited for online brokers, where clients were typically internet savvy.
Some of the proposals include redrafting transfer and placement policy for IRS officers, strengthening the cadre restructuring, rebranding of IRS, robust deputation policy and creation of encadred post in other ministries and government department.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
In the past four months, more than 4 million new accounts have been opened, taking the total to 44.3 million.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
CBDT has directed officials to start scrutinising information from tax evasion petitions, and take them up on a priority basis.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
The ministry of home affairs has received more than 20 proposals for foreign direct investment (FDI), including from China and Hong Kong, requiring security clearance between April and May. 'We are vetting some of these proposals which have come from various sectors. One of the applications is from a well known start-up,' an official said. 'We await inputs from Research and Analysis Wing, intelligence agencies, external affairs ministry, and embassies.'
Sebi had recently put out an advertisement inviting applications for recruitment of two EDs on contractual or deputation basis for a three-year period and asked candidates to apply by July 17.
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
CBI has registered a case against general secretary of Mumbai BJP Mohit Kamboj, his jewellery manufacturing firm Avyaan Overseas, its directors, few mid-level bankers and others for alleged diversion of funds by availing fraudulent foreign bills negotiation limit and export packaging credit limit, issued by lender Bank of India between 2013 and 2018.
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