"This is a positive move as it creates a level playing field among all jurisdictions and would help prevent arbitrage that was rampant in India," says Dinesh Kanabar, Chief Executive Officer of Dhruva Advisors.
Experts believe the 7980 hurdle for the Nifty could soon be broken and a rally leading the index all the way to around 8250-level cannot be ruled out.
Samir Arora is bullish on HDFC Bank saying it usually outperforms the market and is among the safe bets.
Indicating a subdued start, SGX Nifty, at the time of writing, was trading at 7846.50 down 26.00 points.
The government's decision to amend the Mauritius tax treaty has come under fire from some foreign investors (FPIs) such as Singapore-based Samir Arora.
In a significant development, the Supreme Court of India (SC) by its order dated 7 May 2013 has admitted the ‘Special Leave Petition‘ (SLP) of Castleton Investments Limited (Castleton), a company based in Mauritius.
How have the local and global events in the recent past been impacting your investments? Read on to know what’s the status of equity, gold and real estate investments in current economic conditions.
Confusion over the Mauritius tax treaty continues with the Indian and Mauritius government contemplating a revision of the existing treaty. Malcolm Moller, Managing Partner, Mauritius and Seychelles, Appleby does not think the DTAA amendments have begun. But he does advice caution. "If the treaty is amended, investments into India will slowdown."
Shares of telecom infrastructure company GTL Ltd plummeted Monday due to concerns over debt repayment, pledged shares and fund raising, despite the chairman's assurances it had not defaulted and that its business fundamentals remain strong.
The government has strongly denied holding any talks on revising the double tax avoidance agreement with Mauritius. Indian equity market has been witnessing a volatile bout of sell offs post news that India and Mauritius are in talks to revise the existing tax treaty.