The Supreme Court's verdict directing Tiger Global to pay capital gains tax on its 2018 sale of Flipkart shares is unlikely to accelerate the selloff by foreign portfolio investors (FPIs). However, legal and tax experts say the ruling sharpens scrutiny around treaty benefits and could influence how offshore investors structure future India bets.
The Indian Army is set to implement revised physical fitness norms for all personnel, from Agniveers to senior officers, with combined physical tests to be conducted twice annually. The new guidelines aim to enhance combat readiness and will take effect from April 1, 2026.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
A special website has also been created to mark the year-long celebrations, Union Culture Secretary Arunish Chawla told reporters during a briefing at the National Media Centre in New Delhi.
Following a more than 15 per cent surge in the National Stock Exchange (NSE) Nifty 50 from this year's lows, the spread between the 10-year government security (G-sec) and the Nifty earnings has approached the danger zone of 2 percentage points (ppt). At present, the G-sec yield is roughly 7.09 per cent, while the Nifty earnings are 5.12 per cent. As a result, the spread works out to 1.98 ppt, ever so slightly below the danger mark of 2 ppt.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
India's services sector growth quickened in June from May's five-month low, amid a stronger rise in new orders and an unprecedented expansion in international sales, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.2 in May to 60.5 in June, pointing to a sharp expansion in output. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
"After more than 12 hours of intense coercive tactical measures as per the SOPs, the pirates on board the hijacked fishing vessel were forced to surrender. The crew, comprising 23 Pakistani nationals, have been safely rescued," the Indian Navy added.
The outbreak of the Omicron variant of the coronavirus and unprecedented lockdowns in China have roiled its equity market and also that of Hong Kong. After the crisis-hit Sri Lanka, China and Hong Kong are the worst-performing stock markets in Asia on a year-to-date basis.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
Zomato has lost over 9 per cent thus far in calendar year 2023 (CY23) and has underperformed the S&P BSE Sensex that has slipped nearly 5.3 per cent during this period. Despite this underperformance, analysts at HSBC think that the stock can hit Rs 87 going ahead - up over 64 per cent from the current levels. The food delivery industry, wrote Yogesh Aggarwal and Abhishek Pathak of HSBC in a recent note, has slowed considerably in the last few months.
However, despite Covid, Indian markets registered their best financial year performance in a decade, with the Sensex and Nifty50 rallying 68 per cent and 71 per cent, respectively, in FY21.
India reported 3.52 lakh fresh coronavirus cases in the last 24 hours. This is the highest single-day spike registered since the onset of the pandemic.
Advances in technology are enabling students and professionals to make slide presentations more appealing, engaging and effective.
A glossy presentation of a confounding narrative, notes Moumita Bhattacharjee.
A countrywide call for a 'gram bandh' between June 1 and 10 is set to be centred on Mandsaur district of the state.
A new 'malicious worm' has begun infecting computer systems and threatens to attack on the third day of every month beginning February 3, according to Micro Trend, an anti-virus and content security company.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Remember, if you fail to prepare, then prepare to fail.
Carrying their baggage, thousands of people are leaving the port town of Paradip to escape the wrath of the severe cyclonic storm 'Phailin' which is expected to make landfall in Odisha in less than 24 hours.
V1Max runs Vivo's FunTouch 2.1 operating system, which is based on Android 5.0 Lollipop.
After the policy gets paid up, opt for ETI plan if you wish to extend your life cover or take the reduced paid-up if you need cash in hand
At least three persons died on Saturday after uprooted trees fells on them in Odisha ahead of Cyclone Phailin's landfall at Gopalpur.
'Ramchandra Guha has sent down an express delivery at Sunil Gavaskar, the great batsman who seldom wore a helmet while facing the fastest of fast bowlers.' 'Gavaskar may have easily ducked the delivery and Guha would have receded in solitude.' 'But by hitting back at Guha, Gavaskar may have started a barrage of unplayable deliveries,' says Sudhir Bisht about his cricketing hero.
When it comes to writing e-mails, less is more. Presenting a list of mistakes you must avoid while drafting your next e-mail...
The school is a place where your child will spend the next 14 years of his/her life. Is it equipped to meet the future?
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