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06:52 pm : Flashes: Coal & Power Ministe: Expect Committee On UMPP To Submit Final Report By FY-end
06:51 pm : Flashes: Coal & Power Ministe: Will Make Sure Planned 5 UMPPs Get Timely Approvals
06:51 pm : Flashes: Coal & Power Ministe: All New UMPPs Will Get Handholding From The Govt
06:50 pm : Flashes: Coal & Power Ministe: Have Plans For UMPPs In Bihar & Jharkhand
06:50 pm : Flashes: Coal & Power Ministe: Will See Gradual Phase-out Of Exemptions
06:46 pm : Flashes: PM Said Any Positive Suggestion On Land Acqn Will Be Acted Upon
06:46 pm : Flashes: MoS Finance: Road Projects Can Be Jump-started Immediately With EPC
06:45 pm : Flashes: MoS Finance: Looking At Differential Voting Rights For PSU Bank Boards
06:45 pm : Flashes: MoS Finance: Looking At Innovative Instruments For Reinvigorating PSU Bank Boards
06:44 pm : Flashes: MoS Finance: Bank Bureau Will Be An Autonomous Body & Select Bank Chiefs
06:43 pm : Flashes: MoS Finance: Trying To Pass Constitutional Amendment To GST In This Session
06:43 pm : Flashes: MoS Finance: Can See Movement In Many Stalled Projects
06:42 pm : Flashes: MoS Finance:Govt Infra Investments Will Improve Rail Network
06:41 pm : Flashes: MoS Finance:Will Start Allocating Gross Budgetary Support Of Rs 70,000 Cr Immediately
06:40 pm : Flashes: Rs 70,000 Cr Divestment Target For FY16 Is Ambitious: :Divestment Secy
02:27 pm : Interpretations: 10% TDS introduced for PF withdrawal before 5 years
02:14 pm : Interpretations: Buyback tax up from 22.66% to 23.07% for unlisted companies
02:11 pm : Interpretations: Specific mutual fund service tax exemption withdrawn

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dipankar_ghosh | 1 hr 47 min 5 sec

Officials say questions may be raised about both firms’ shareholding pattern, foreign promoters Will the shareholding pattern of Vedanta Ltd become a stumbling block to Anil Agarwal’s attempts at merging Cairn India with it? Yes, going by those associated with the decision-making process. While Agarwal and his team are wooing minority shareholders like LIC as also the Finance Ministry (for tax purposes) and the Petroleum Ministry (for Production Sharing Contracts), they may have to reckon with the Foreign Investment Promotion Board’s (FIPB) though 100 per cent foreign direct investment is allowed in both mining and petroleum sectors. “The government would like to play it safe. Questions could be raised on the shareholding pattern of the entity, something similar to what happened in the Jet Airways-Etihad case.”The Jet Airways promoter faced queries on Tail Winds, through which Naresh Goyal owned the majority stake in the airline. The case of Vedanta-Cairn India merger is that of a foreign company turning Indian and then becoming a foreign entity again.In Cairn India, the promoter Vedanta Group holds 59.88 per cent and minority shareholder Cairn UK Holdings has 9.82 per cent stake with Foreign Institutional Investors controlling 14.26 per cent.According to multiple sources, the FIPB can question the shareholding pattern of the promoters, who have invested through overseas arms like Twin Star Holdings.In the case of Vedanta also queries can be raised on the promoters’ investments via foreign entities. Further, according to the proposal, Cairn India minority shareholders, including Cairn UK Holdings, are to get preference shares, and this, again, may require FIPB approval.Officials in the Department of Industrial Policy & Promotion, while declining to comment, said the DIPP would look at all aspects of the matter once the proposal comes to it.Vedanta Group expects to complete the entire process by the first quarter of calendar 2016. It proposes to have FIPB approval i

1Anonymous | 1 hr 50 min 36 sec

dipankar_ghosh | 1 hr 52 min 42 sec

There are few indications of a meaningful recovery in bank earnings in the short term, though stressed assets are likely to have peaked and non-performing asset accretion is easing, said a report by Fitch Ratings. Credit profiles remain under pressure, although the overall pace of deterioration slowed through FY15. Growth was concentrated mainly in retail assets, and could be an area of future pressure, given the surge in pace of growth, the statement added. System-wide loan growth at 9.7 per cent in the financial year to March 2015 (FY15) was the lowest over the past decade, and concentrated mainly in retail and farm credit. The loan growth was 15 per cent in FY14. In FY2015, risk-aversion and weak credit demand were accompanied by continued asset-quality deterioration and rising capital needs. External capital Fitch said that weak internal capital gAAeneration, low equity market valuations and Basel III migration means ongoing high reliance by State-led banks for external capital, with resort to government and hybrid capital in the interim. The domestic market for hybrid capital lacks depth and liquidity, and so banks may have little choice but to seek funds overseas as pressure for capital builds with banks approaching the Basel III deadline of FY2019. “Fitch expects the stressed assets (NPAs performing restructured loans) ratio to have largely peaked, although pressures are unlikely to subside quickly in the near term. The ratio had risen to 11.1 per cent by FY2015 (FY2014: 10 per cent). “The bulk of the pressure came through in 2HFY15, including a sharp spike in restructuring in 4QFY15 led by State-owned banks (FY2015: 13.5 per cent; FY2014: 11.7 per cent). The rush to restructure loans was expected as regulatory dispensation under restructuring was due to expire in March 2015,” Fitch noted. New gross NPA growth slowed across many State-led banks, while private banks played catch-up. Both ICICI Bank (up 44 per cent) and Axis Bank (up 37 per cent) reported hig

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Leather Products

14:33 pm

Govt reduces excise duty on leather footwear to 6%

Bata India 1135.50 51.95
Relaxo Footwear 507.50 19.15
Mirza Intl 91.60 7.10
Sreeleathers 196.50 0.00

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Cigarettes

14:31 pm

Excise duty on cigarettes increased by 25% for sub-65 mm cigarettes

ITC 314.80 -0.25
Godfrey Phillip 514.55 40.45
VST 1669.50 -1.20
Kothari Product 197.55 0.35

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Transport & Logistics

14:01 pm

Service tax hike of 2.4% for non-economy class air travel

Container Corp 1758.95 17.30
Allcargo 310.80 -3.65
Jet Airways 308.50 30.75
Aegis Logistics 860.65 36.15

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Computers - Software

13:57 pm

Fee for technical services rate reduced from 25% to 10%

TCS 2491.60 -23.80
Infosys 990.30 2.30
HCL Tech 969.95 5.05
Wipro 550.05 0.50

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Telecommunications - Service

13:56 pm

Govt reduces royalty rates

Bharti Airtel 433.10 -2.00
Idea Cellular 180.85 -0.35
Reliance Comm 64.35 1.00
Tata Comm 430.35 2.40

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Media & Entertainment

13:54 pm

Entertainment sector removed from service tax negative list

Zee Entertain 373.70 4.30
Dish TV India 106.75 0.55
Sun TV Network 361.65 1.90
TV18 Broadcast 41.10 3.30

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Auto - LCVs & HCVs

13:47 pm

Import duty on vehicles with capacity more than 10 seats increased to 40% from 10%

Tata Motors 436.40 -8.10
Eicher Motors 16520.50 739.35
Ashok Leyland 73.70 1.00
Force Motors 207.55 -10.90

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Steel - Large

13:46 pm

Customs duty on bituminous coal reduced to 10% from 55%

Tata Steel 299.00 -2.20
SAIL 63.85 0.70
JSW Steel 881.25 12.30
Essar Steel 51.80 -5.30

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Consumer Goods - Electronic

13:44 pm

Customs duty on LED, LCD panels made nil

Videocon Ind 150.75 0.30
Videocon Int 84.25 -1.25
Mirc Electronic 15.05 1.35
Sharp India 5.20 0.20

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