CBDT notifies foreign tax credit rules, corporates to gain -:- Equity Research

To provide relief to corporates with income abroad, the tax department has notified 'Foreign Tax Credit' rules allowing companies to claim credit for taxes, surcharge and cess paid overseas. The rules, which come into effect from April 1, 2017, allow taxpayers to claim credit of foreign tax under dispute once it is finally settled. Foreign tax credit (FTC) will be available against tax, surcharge and cess payable under the Act, including minimum...

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Microsoft CEO Satya Nadella's debut book to come out in 2017 -:- Equity Research

Microsoft CEO Satya Nadella's debut book will hit stores next year with the writer saying it is neither a 'how-to-succeed' book nor a memoir but about change. 'Hit Refresh' follows three storylines: Nadella's personal journey of transformation, the change that is taking place today inside his storied technology company, and one that is coming in all of our lives as intelligent machines become more ambient and more ubiquitous throughout society,...

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Nifty likely to see 9100 levels soon -:- Equity Research

Post the major economic triggers like the Brexit and RBI governor Raghram Rajan's bowout, the Indian markets have bounced back, and Atul Suri of Rare Enterprises believes that the inverse head and shoulders pattern of Nifty50 will get around 9100 levels soon. He added that despite the ongoing volatility in the global markets, he is optimistic with the way many Indian sectors have performed; EMs are gaining strength as opposed to the developed...

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Manufacturing data in July next trigger for mkts -:- Equity Research

Post Brexit, markets have seen volatility, but have recovered well in the last few trading sessions. There is enough liquidity which is pushing this rally, says Sameer Goel, Head of Asia Rates & Currency Research at Deutsche Bank. Repercussions of the UK Referendum and what it means for politics in the Europe will be closely watched. However, the economic backdrop continues to remain weak. The next trigger for global markets will be manufacturing...

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Prices may remain firm for 2 yrs on supply lack -:- Equity Research

Sugar prices are likely to stay firm over the next couple of years according to M Manickam, MD of Sakthi Sugars, who says production in Maharashtra and Karnataka might be down by around 4 million tonnes each this year. In an interview to CNBC-TV18 Manickam says although currently the real problem is sugar supply shortage, elections in Uttar Pradesh will prove beneficial as the government there has been supportive of the industry and are likely...

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GST Bill is a do-or-die situation for NDA -:- Equity Research

The Monsoon session of the Parliament will begin on July 18 and will continue till August 12. So, can the GST Bill finally see the dawn? In an interview with CNBC-TV18, Anil Padmanabhan, the deputy Managing Editor of Mint said that GST Bill is a do or die situation for NDA. "If the government doesn't push it in this session, it won't happen during the remaining regime of the Modi government," he added.   Soumya Kanti Ghosh, the Chief Economic...

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RPG Life Sciences eyes extra revenues from new dermatology bet -:- Equity Research

RPG Life Sciences   has forayed into cosmetic dermatology market after joining hands with an Italian cosmetic firm Labo Cosprophar. The company will manufacture hair growth and anti-aging products, branded as Crescina and Fillerina, respectively. The MD of the company, CT Renganathan, said the agreement is for the long-term and expects good additional revenue from this deal. "The dermatology market is growing very fast and hair growth space...

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Tough to gauge real step-up in demand until September -:- Equity Research

It is best to take a view on turnaround in demand conditions only around September by which time it will be clear if monsoons have panned out as expected, says Saugata Gupta, MD & CEO of Marico. Pay revisions due to upcoming Seventh Pay Commission will certainly improve sentiment but may not immediately translate into consumption, feels Saugata Gupta, Managing Director and CEO of fast moving consumer goods major Marico   .  Speaking...

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Essar Steel Pune unit eyes Rs 3,000 cr turnover in FY17 -:- Equity Research

Riding high on increasing demand for pre-coated steel in domestic as well as international markets, Essar Steel Pune Facility (ESPF) is eyeing a 43 percent jump in turnover to Rs 3,000 crore in the ongoing fiscal. The unit is located at Sanaswadi, Maharashtra. "We are looking at achieving a turnover of Rs 3,000 crore in FY17 compared with Rs 2,100 crore achieved in FY16. We expect our sales volume of PPGI (Pre-Painted Galvanised Iron) products...

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7th Pay Commission cleared: A look at the facts & numbers -:- Equity Research

The Union Cabinet on Wednesday cleared the 7th Pay Commission recommendations. The report had suggested a 15 percent hike in base salaries of government employees. The average hike will be around 23-24 percent. The report was finalized by the Empowered Committee of Secretaries. Government officials have said that only salaries and hikes have been cleared by the government, which will spend Rs 52,000 crore over it in this fiscal. The 15 percent...

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Government taking care to see there are more inflows -:- Equity Research

In a conversation with CNBC-TV18, Ramesh Abhishek, the Secretary of Department of Industrial Policy & Promotion (DIPP) said that there has been tremendous interest among foreign investors in India and that the government is doing active investment promotion to attract more inflows.   He said, "The climate for doing business has become simpler hence we expect FDI inflows to go up from here," he said, adding "India needs huge investments...

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Complacency over Brexit impact worrying -:- Equity Research

The high level of complacency among investors about the impact of Brexit and that Brexit's impact will be restricted to Europe and the UK is worrying, said Abhay Laijawala, Head-India Research at Deutsche Equities, speaking to CNBC-TV18. This, unlike the Lehmann Crisis of 2008, is a political event which can translate in to systemic risks for global markets, he told CNBC-TV18, cautioning investors to closely watch global currency swings. "We...

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Liquid Telecom to buy Tata's South African arm for Rs 2900 cr -:- Equity Research

Liquid Telecom, a pan-African telecom group has entered into an agreement to acquire Neotel, a Tata Communications subsidiary in South Africa, for Rs 2,900 crore. Liquid Telecom will be partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30 percent stake in Neotel. “Through a single access point, businesses across Africa will be able to access Liquid Africa’s 24,000km of...

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India appoints Vishwanathan as new RBI deputy governor -:-Equity Research

A government-appointed panel has selected N S Vishwanathan as a Reserve Bank of India deputy governor, replacing incumbent H R Khan, NDTV Profit TV and ANI television news agency reported on Tuesday without citing sources. Vishwanathan is currently an executive director at the RBI, overseeing the banking regulation and non-banking department. He would succeed Khan, who will retire on July 3, ANI tweeted. The key departments under Khan are financial...

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Indiabulls Housing Finance to raise Rs 625 crore -:- Equity Research

Indiabulls Housing Finance is planning to raise Rs 625 crore through issuance of non-convertible redeemable debentures, the company said today. "The company proposes to issue 6,250 secured non- convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 625 crore (plus greenshoe option) on a private placement basis," the company said in a BSE filing. The issue will open on June 30 and close on the same day. The non-convertible...

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Buy Balrampur Chini, Triveni Engineering -:- Equity Research

SP Tulsian of sptulsian.com told CNBC-TV18, "Those who are taking a call on the sugar stocks need to have conviction that the things are going to be very good for the next season as well, because I have been calculating the production of the next season that is the season which will start on October 1 and I was stunned to take up estimated production of less than 200,000 lakh tonne. So, situation is going to be seen quite precarious." "In the current situation, the drop in the production will be seen in the Maharashtra and Karnataka and if you...

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Nifty fails to hold 8100, Sensex flat; Midcap shines, IT loses -:- Equity Research

It was a consolidation day for the market on Monday as investors digested the Friday's sharp fall led by Britain's vote to leave the European Union and feels India will have minimal impact of Brexit among Asian countries. The 30-share BSE Sensex rose 5.25 points to 26402.96 and the 50-share NSE Nifty was up 6.10 points at 8094.70 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices gained 0.8 percent and 1.5...

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Buy LIC Housing Finance; target of Rs 550 -:- Equity Research

LIC Housing Finance Ltd. is one of the largest Housing Finance company in India with market cap of 24000crs. Currently on the price chart, it is looking bullish from a medium term perspective for target of 550. The below shown daily chart of LICHSGFIN is showing bullish breakout from a 6 month falling trend line. The short term trend of the stock is up. The slope of 50 and 100 DMAs are now up; confirming strength. The medium term MACD indicator...

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Competition to make it tough for Havells to gain mkt share : Equity Research

Brokerage firm CLSA has a ‘Sell’ call on Havells with a target price of Rs 323. The electrical equipment maker will most likely not be able to corner any significant market share as it will see headwinds from more competition, says the report. The report also flags two key worries: disruption from state-owned EESL and share of unorganised sector which has been going down in most segments. “This growth [for the company] was driven by a focus...

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RBI always ready to act when markets misbehave, says Rajan -:- Equity Research

The RBI governor said that all of us had sneakily suspected that the UK opinion polls didn't reflect the true intent. "Hopefully, saner minds will prevail as we look back on this episode and people see the costs of leaving," he said. Brexit reflects the mood of a people who are tired of engaging with the world and with immigrants, Rajan said. UK does face an uphill task in managing its current account deficit, he added.  "If the UK doesn't...

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