| | |

SENSEX 28693.99

255.08 (0.90%)

CNX NIFTY 8588.25

94.05 (1.11%)

04:03 pm : Interpretations: »Few Local Transactions Deemed Intl U/Transfer Pricing Rules
03:59 pm : Interpretations: »Unlisted Shrs Treated As Long-Term Cap Assets After 36 Mths
03:59 pm : Interpretations: »Unlisted Shrs Treated As Long-Term Cap Assets After 36 Mths
03:58 pm : Interpretations: »Interest At 18-30% pa On Late Payment Of Service Tax
03:53 pm : Interpretations: »CENVAT Credit To Lapse If Not Claimed Within 6 Months
03:53 pm : Interpretations: »Excise Rules Amended To Negate Impact Of Fiat Ruling
03:51 pm : Interpretations: »Disallowance On Non-deduction/Payment Of TDS Limited To 30%
03:50 pm : Interpretations: »Forfeiture Of Advance on Transfer Of Cap Assets Taxable
03:45 pm : Interpretations: »DDT Now Payable On Dividend To Be Distributed
03:44 pm : Interpretations: »DDT Now Payable On Dividend To Be Distributed
03:43 pm : Interpretations: »Mandatory Pre-deposit For IDT Appeals To Cause Cash Blockage
03:38 pm : Interpretations: »Mandatory Pre-deposit For IDT Appeals To Cause Cash Blockage
03:30 pm : Interpretations: »Proposed Computation Of DDT To Up Effective Rate By 2.5%
03:29 pm : Interpretations: »Change Proposed In Mode Of Computation Of DDT
02:42 pm : Flashes: »FM says: If economy improves in the future the direction of exemptions will be on this trajectory
02:41 pm : Flashes: »FM says: Budget runs parallel to the BJP manifesto
02:41 pm : Flashes: »FM says: Budget Steps Aimed At Putting More Cash In Consumer Pockets
02:40 pm : Flashes: »FM says: Have To Raise Tax Base To Meet FY15 Fiscal Gap Aim
02:37 pm : Flashes: » FM says: Raising Tax Rates To Crimp Economic Activities
02:37 pm : Flashes: »FM says: Had To Resolve Many Taxation-Related Problems

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Sandeep Patel

MD & CEO | CignaTTK Health Insurance

We welcome the FDI hike announcement as it will drive much needed investment into the insurance sector enabling further growth to bring India's insurance penetration levels closer to global standards.

Madhu Kela

Chief Investment Strategist | Reliance Capital

They (govt) have five years to go. They aren`t in a hurry. They will do things in a step-bound manner.

Samir Arora

Fund Manager | Helios Capital Management

Current volatility in the market is because investors are too anxious and short-term

Kapil Wadhawan

CMD | DHFL

Other Budgetary recommendations such as the proposed Rs 80 billion for the rural housing scheme and the planned New Industrial Smart Cities will create newer and interesting opportunities for the housing finance industry.

Dharmesh Mehta

MD-Institutional Equities | Axis Capital

Tourism, defense and insurance are likely to attract huge foreign direct investment

Chanda Kochhar

MD & CEO | ICICI Bank

Allowing lenders to give long-term loans to infra without restrictions on CRR/SLR would enable banks to raise long-term bonds.

Vineet Singh

EVP & Business Head | 99acres.com

Setting up of modified REITs and infrastructure investment trusts will help create more liquidity for the sector.

Manish Shah

Co-Founder & CEO | Bigdecisions.in

While the middle class taxpayer clearly benefits from the increase in tax exemption limit, PPF limit and home loan deduction, the increase in capital gains tax on debt funds is hard to comprehend as is the need to stay invested in equity funds for 3

Sanjay Dutt

Director | Quantum Securities

I would rate the Budget 9 out of 10. It was a real good document given the fact the government has been on the hot seat for only 50 days. One couldnt have expected anything better. However, execution is important.

Anuj Puri

Chairman & Country Head | JLL India

In terms of relief to the housing sector, the budget has allocated Rs. 4000 crore for low-cost housing schemes.

Sunil Singhania

CIO - Equity | Reliance Mutual Fund

All the ingredients of a structural bull run are now in place and his positive outlook on the Indian market continues to be positive.

Gautam Trivedi

Managing Director | Religare Capital

We are on the eve of the earnings season. Tomorrow Infosys numbers are expected. Hopefully the numbers start trending upwards. We are expecting a 19 percent growth in topline and a 15 percent growth in the net earnings for the Sensex ex-oil.

Sunil Singhania

CIO - Equity | Reliance Mutual Fund

The Budget that was presented by the FM Arun Jaitley was forthcoming on policy front. A lot of regulations which needed to be streamlined have been streamlined and all we need now is execution.

Ravi Saund

COO | CHD Developers

The government has encouraged the home buyers by widening Housing loan interest exemption U/s 24 B from Rs 1.5 lakh to Rs 2 lakh coupled by personal tax exemption slab raised to the level of 2.5 lakhs per annum.

Abdul Majeed

Partner | Price Waterhouse

The government seems to have adopted a balance approach as far as auto industry is concerned in its first budget.

nimbagal  16 sec

Ohh Really - Sun-Ranbaxy deal to materialise by year end Shardul Nautiyal, Mumbai Friday, November 28, 2014, 08:00 Hrs [IST] Even as the Competition Commission of India (CCI) is looking at remedies that could be prescribed so that the Sun-Ranbaxy merger doesn`t stifle competition, it has been given to understand that the merger will finally take shape by the end of December, 2014 despite procedural delays. Though speculations have been rife that Sun-Ranbaxy merger will have a market domination in certain key segments like anti- diabetic and cardiology, industry sources say that there would be overlapping in two or three products and the respective company may have to divest in such an incident. Also, a mechanism would be devised by the trade regulator to ensure that the merged entity comply to the remedial measures or suggestions after completion of the merger. As a part of the remedy, the merged entity could be prevented from foreclosing the market to its competitors by preventing practices such as use of long-term or exclusive contracts, creation of switching costs for customers and tying or bundling. Sun Pharma’s acquisition of Ranbaxy Laboratories Ltd had also hit a major hurdle with CCI issuing show cause notices to both companies asking why a public investigation should not be ordered into the deal based on the possibility that it could affect the prices of essential life-saving drugs in the domestic market. The acquisition is uncommon in the pharmaceutical sector with one Indian company buying a local competitor which will have estimated annual revenue of $4.2 billion (about Rs. 25,200 crore). The Sun-Ranbaxy transaction is the first merger deal that has received a show-cause notice since India amended the merger control provision in 2011. Under India’s Merger and Acquisition (M&A) Rules, companies need CCI’s approval if the combined assets of the two entities are worth more than Rs. 1,500 crore or sales amount to more than Rs. 4,500 crore in India. On April 6, Sun Pharma agreed to buy Ranbaxy for $3.2 billion in stock from its Japanese parent Daiichi Sankyo Co. Ltd. It also agreed to take on $800 million of Ranbaxy’s debt. The CCI is especially concerned about the 46 drug formulations that will constitute the merged entity’s portfolio and in which the entity will have a significant presence in the market. The deal is set to create the fifth largest generic drug maker globally and the largest in the over Rs. 75,000-crore Indian pharma sector with a 9.5 per cent market share. Data compiled by IMS Health indicates that Sun Pharma is growing at 19.3 per cent and Ranbaxy at 0.6 per cent showing a combined growth of 16 per cent in the anti-diabetic segment and a combined market domination of 8.34 per cent. It also indicates that 2.5 per cent growth is shared by Ranbaxy and 10.7 per cent by Sun Pharma accounting for a combined growth of 7.7 per cent in the cardiac segment with a combined market share of 11.94 per cent. Market share of Ranbaxy at 1.26 per cent is however less than Sun Pharma at 7.08 per cent in anti-diabetic segment and again in cardiac segment with Ranbaxy at 2.5 per cent and Sun Pharma at 10.7 per cent. On the basis of data provided by IMS Health, the market size of combined entity would be 8.5 per cent. Abbott will be the second company at 6.5 per cent. It also indicates that the combined entity holds Rs. 5,16.1 crore of Rs. 6,200 crore Diabetes market in India growing at a rate of 18 per cent. In the cardiology segment, it holds Rs. 1,145.8 crore market of the Rs. 9,599 crore cardiology market growing at a rate of 9 per cent. Both entities combined together are growing at 16 per cent in the diabetic segment and 7.7 per cent in the cardiac segment. Also, of the leading 10 therapy segments that make up 90 per cent of the total pharma market, the combined entity is among the top four suppliers. These therapy segments include neuropsychiatry at 16 per cent, cardiology at 16 per cent, anti-infectives at 13 per cent, gastroenterology at 10 per cent, pain & analgesics at 8 per cent, dermatology at 6 per cent, gynaecology at 6 per cent and respiratory at 4 per cent, diabetology at 8 per cent and others at 13 per cent.
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nimbagal  16 sec

Ohh Really - Sun-Ranbaxy deal to materialise by year end Shardul Nautiyal, Mumbai Friday, November 28, 2014, 08:00 Hrs [IST] Even as the Competition Commission of India (CCI) is looking at remedies that could be prescribed so that the Sun-Ranbaxy merger doesn`t stifle competition, it has been given to understand that the merger will finally take shape by the end of December, 2014 despite procedural delays. Though speculations have been rife that Sun-Ranbaxy merger will have a market domination in certain key segments like anti- diabetic and cardiology, industry sources say that there would be overlapping in two or three products and the respective company may have to divest in such an incident. Also, a mechanism would be devised by the trade regulator to ensure that the merged entity comply to the remedial measures or suggestions after completion of the merger. As a part of the remedy, the merged entity could be prevented from foreclosing the market to its competitors by preventing practices such as use of long-term or exclusive contracts, creation of switching costs for customers and tying or bundling. Sun Pharma’s acquisition of Ranbaxy Laboratories Ltd had also hit a major hurdle with CCI issuing show cause notices to both companies asking why a public investigation should not be ordered into the deal based on the possibility that it could affect the prices of essential life-saving drugs in the domestic market. The acquisition is uncommon in the pharmaceutical sector with one Indian company buying a local competitor which will have estimated annual revenue of $4.2 billion (about Rs. 25,200 crore). The Sun-Ranbaxy transaction is the first merger deal that has received a show-cause notice since India amended the merger control provision in 2011. Under India’s Merger and Acquisition (M&A) Rules, companies need CCI’s approval if the combined assets of the two entities are worth more than Rs. 1,500 crore or sales amount to more than Rs. 4,500 crore in India. On April 6, Sun Pharma agreed to buy Ranbaxy for $3.2 billion in stock from its Japanese parent Daiichi Sankyo Co. Ltd. It also agreed to take on $800 million of Ranbaxy’s debt. The CCI is especially concerned about the 46 drug formulations that will constitute the merged entity’s portfolio and in which the entity will have a significant presence in the market. The deal is set to create the fifth largest generic drug maker globally and the largest in the over Rs. 75,000-crore Indian pharma sector with a 9.5 per cent market share. Data compiled by IMS Health indicates that Sun Pharma is growing at 19.3 per cent and Ranbaxy at 0.6 per cent showing a combined growth of 16 per cent in the anti-diabetic segment and a combined market domination of 8.34 per cent. It also indicates that 2.5 per cent growth is shared by Ranbaxy and 10.7 per cent by Sun Pharma accounting for a combined growth of 7.7 per cent in the cardiac segment with a combined market share of 11.94 per cent. Market share of Ranbaxy at 1.26 per cent is however less than Sun Pharma at 7.08 per cent in anti-diabetic segment and again in cardiac segment with Ranbaxy at 2.5 per cent and Sun Pharma at 10.7 per cent. On the basis of data provided by IMS Health, the market size of combined entity would be 8.5 per cent. Abbott will be the second company at 6.5 per cent. It also indicates that the combined entity holds Rs. 5,16.1 crore of Rs. 6,200 crore Diabetes market in India growing at a rate of 18 per cent. In the cardiology segment, it holds Rs. 1,145.8 crore market of the Rs. 9,599 crore cardiology market growing at a rate of 9 per cent. Both entities combined together are growing at 16 per cent in the diabetic segment and 7.7 per cent in the cardiac segment. Also, of the leading 10 therapy segments that make up 90 per cent of the total pharma market, the combined entity is among the top four suppliers. These therapy segments include neuropsychiatry at 16 per cent, cardiology at 16 per cent, anti-infectives at 13 per cent, gastroenterology at 10 per cent, pain & analgesics at 8 per cent, dermatology at 6 per cent, gynaecology at 6 per cent and respiratory at 4 per cent, diabetology at 8 per cent and others at 13 per cent.
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BEST OF BUDGETS 2014

POLL

Jayant Sinha checks into North Block. Will the Jailtley- Sinha team push big bang reforms in Budget 2015?

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CHAT

1 December 2014, 14:00 PM

Ajay Jain

| www.astromoneyguru.com

UPCOMING CHATS

Ajay Jain | Mohit Gaba

PREVIOUS CHATS

Mohit Gaba | Harshvardhan Roongta

budget impact

Sector Impact

Breweries & Distilleries

13:15 pm

FM proposes to cut basic customs duty on methyl alcohol to 5%

United Spirits 2735.55 61.95
United Brewerie 783.80 38.35
Radico Khaitan 80.80 -0.10
Balaji Distill 3.75 0.10

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Mining/Minerals

13:14 pm

FM proposes export duty on bauxite hiked to 20% from 10%

Coal India 355.00 5.85
Hind Zinc 163.05 -0.25
Sesa Sterlite 231.35 -7.00
NMDC 139.95 -0.20

more

Oil Drilling And Exploration

13:11 pm

FM proposes basic customs duty on crude, naphthalene cut to 5% vs 10%

ONGC 379.40 -2.90
GAIL 488.20 -1.25
Cairn India 260.45 -12.10
Oil India 592.10 -16.60

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Oil Drilling And Exploration

13:11 pm

FM proposes to cut basic customs duty on some petchems

ONGC 379.40 -2.90
GAIL 488.20 -1.25
Cairn India 260.45 -12.10
Oil India 592.10 -16.60

more

Consumer Goods - Electronic

13:10 pm

FM proposes to cut customs duty on LCD, LED panels sub-19 inch to nil

Videocon Ind 161.25 -0.15
Videocon Intl 84.25 -1.25
Mirc Electronic 9.40 -0.40
Jindal Photo 180.25 -2.70

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Steel - Rolling

13:09 pm

FM proposes to increase custom duty on imported flat roll steel

Manaksia 126.95 -7.30
Kalyani Steels 159.45 -0.85
Sunflag Iron 27.65 0.15
ISMT 19.25 0.10

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Power - Generation/Distribution

13:08 pm

FM proposes customs duty on some wind power equipment cut to 5%

NTPC 142.70 1.55
Power Grid Corp 142.70 1.95
Tata Power 93.00 0.55
NHPC 20.35 0.35

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Cigarettes

13:07 pm

FM proposes to hike excise duty on cigarettes by 11-72%

ITC 363.15 2.55
Godfrey Phillip 616.45 5.72
VST 1845.55 35.45
Kothari Product 218.15 -0.30

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Telecommunications - Equipment

13:07 pm

FM proposes 10% customs duty on some telecom products

Bharti Infratel 300.15 0.40
Honeywell Autom 6902.15 -22.10
HFCL 19.60 -0.60
Astra Microwave 113.50 3.65

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Mining/Minerals

13:06 pm

FM proposes to rationalise customs duty on all grades of coal to 2.5%

Coal India 355.00 5.85
Hind Zinc 163.05 -0.25
Sesa Sterlite 231.35 -7.00
NMDC 139.95 -0.20

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Dharmesh Mehta

MD-Institutional Equities | Axis Capital

BUDGET 2014 REACTIONS
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MARKET OUTLOOK

Rahul Mohindar

Director | viratechindia.com

Experts see better mkt levels ahead, first rate cut next yr

Gaurav Mehta

VP - Inst'l Equities | Ambit Capital

Sensex may hit 36,000; GDP growth seen at 6% in FY16: Ambit

Vishal Kshatriya

Sr Derivative & Technical Analyst | Edelweiss Securities

Here are few stock trading ideas from Vishal Kshatriya

Chandan Taparia

Derivatives Analyst | Anand Rathi Financial Services

Here are few stock trading ideas from Chandan Taparia

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BUDGET TIPS
What to buy / sell before this budget
company price action
Kotak Mahindra 1202.2546.45 Buy
Arvind 280.001.55 Buy
Albert David 253.950.95 Buy
Pidilite Ind 459.6026.45 Buy
SBI 321.4515.60 Buy
Tata Motors 532.9514.40 Buy
NMDC 139.70-0.35 Buy
Sah Petroleums 42.150.75 Buy
Jaiprakash Pow 13.26-0.01 Sell
South Ind Bk 27.600.35 Buy

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budget commentary
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  • R Sreesankar

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TEASE YOUR MIND

Who is the only person to have presented annual and interim budgets whilst being both the Finance Minister and Deputy Prime Minister of India?

  • Manmohan Singh
  • Pranab Mukherjee
  • Morarji Desai
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