The Hindu Business Line : Wednesday, March 01, 2006

Investors will gain, feels Fidelity MF
The Budgetary announcement relating to offshore funds is good for the asset management industry, Fidelity Mutual Fund has stated. A Fidelity press note has quoted Ms Ashu Suyash, Country Head, who felt investors will gain from a geographical ... More

Equity fund redefined
A few other Budget proposals have specific implications on close-end and balanced funds. Close-end equity oriented funds have been given a level playing field with open-end funds on the provisions relating to dividend distribution tax, ... More

MFs keen to tap global opportunity
Mutual funds now have better access to global markets. The Union Finance Minister, Mr. P Chidambaram, has unshackled mutual fund investments in foreign equities from the restriction they previously had. The ceiling on investment by mutual ... More

The lure of equity despite stretched valuation — Bias in favour of investments in MFs, insurance
Last year, the Finance Minister had talked about a road map for moving towards an EET system - meaning investments would earn tax rebates at the time of investment, income from such investments would be exempt while proceeds received on ... More

Mutual funds are free to spread their wings
Feel that stock prices in the Indian market have run up too much? You may soon get an opportunity to diversify by buying stocks from the Chinese, Taiwanese, or Japanese stock markets through the mutual fund route. The Budget has just ... More

AMFI to seek clarifications on foreign investments
The asset management industry intends to obtain the Government's clarification on whether the permission to cumulatively invest up to $1 billion in foreign ETFs (exchange-traded funds) would be in addition to the increased ceiling on investment ... More

`More options for MF investors'
While distributors are largely content with some of the provisions concerning MFs, most would like fund houses to come out with new products in line with what has been specified in the Budget. These include close-end equity oriented funds, ... More

TAXATION

Feeling the pinch of STT
While introducing the Securities Transaction Tax in the July 2004 Budget, the Finance Minister remarked that the new tax regime "will be a win-win situation for all concerned." He also remarked that the levy would be small. Opponents of the tax ... More

STT hiked by 25 pc — Dealers say move is on expected lines
The tax was introduced in the 2004-05 Union Budget and is applicable at different rates on the value of the taxable securities transaction, defined to mean a transaction of purchase and sale of securities entered into in a recognised stock exchange i n India. More

Registrars, share transfer agents under service tax ambit — `12% levy is bad news for AMCs'
Registrars, share transfer agents and bankers to equity issues have now been brought under the service tax net. The Finance Bill 2006-07 proposes to levy service tax of 12 per cent on these services. While this is not expected to ... More

TECHNICAL ANALYSIS

Volatile movement
Trading activity witnessed volatile movement on Tuesday. The sentiment reading of the tradable counters remains bullish. Bear pressure on Wednesday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish ... More

STOCK MARKETS

Market moves up; STT hike no dampener
Poor show
Public sector banks fared poorly at the bourses as the Finance Minister's proposal to extend credit to farmers much below the market rate at 7 per cent was seen as one that would erode their profitability.
Market ex perts opine that there are unlikely to be any Budget related falls in the market.
The 30-stock benchmark index gained 88.15 points over Monday's closing figure. More

Wyeth: Betting on parent's patent
Wyeth Ltd on Tuesday moved up by 2.25 per cent at Rs 631.20 on the BSE with a 9-fold jump in traded quantity from its 2-week average at over 3.73 lakh shares. This was a result of a market expectation that the series of launches in India of ... More

Grasim: Up on Stock split hopes
The market buzz around Grasim Industries on Dalal Street was that the company may opt for a stock split shortly. The stock gained by 4.43 per cent at Rs 1,742.45 with a significant increase in the traded quantity on the BSE, largely because of ... More

Looking for positives
THE BIG OCCASION: Traders look busy at Bangalore Stock Exchange office during the presentation of the Union Budget by the Finance Minister, Mr P. Chidambaram, on ... More