Stock Watch

The original proposal had been offering a few benefits, but the recently introduced Direct Taxes Code (DTC), by the Government, is not giving the required profits. Also, previously, the Finance Minister had said that the new proposal will be implemented from next year; but it has been now announced that it would be applicable from April 1, 2012.

Now, according to this new Bill, the tax exemption on income will be increased from Rs. 1.6 lakh to Rs. 2 lakh. Also, 30% will be the corporate tax. Besides this, it has been fixed that 10% tax will be put on income from Rs. 2-5 lakh;

Now, even the hospitality sector will witness Reliance Industries in its vicinity. With Rs. 1,021 crore, the Mukesh Ambani-led Reliance Industries has taken hold of 14.12% stake in EIH. EIH manages the Oberoi brand of hotels and resorts, and the deal has been done with the help of RIL's entirely owned subsidiary Reliance Industries Investment and Holding Private Limited.

These stakes have been bought from Oberoi Hotels Private Limited, as said by RIL, and a few other promoters of EIH Limited.

On Monday, NTPC, the largest electricity producer of India announced that it is planning to purchase stakes in two Indonesian coal mines in the current financial year, so as to increase the supply of coal to its plants.

R. S. Sharma, Chairman and Managing Director of NTPC stated that the two Indonesian coal mines are located in East Kalimanthan and Sumatra, which the Company wants to have stakes in; with that its coal supplies will reach to

The 200 million customers of the Anil Dhirubhai Ambani Group can now be reached out to, by the advertisers only through Reliance Broadcast Network Ltd.

An announcement made by the Company has made it very clear that RBNL will now be taking care of all the advertising sales of ADAG and will hence act as a single window for all the advertisers to contact and make their way to the ADAG customers.

Another Tata Motors car Nano, belonging to a Supreme Court advocate, caught fire on Friday while it was kept in a parking lot in Delhi. The driver, however, managed to get out of the car after flames erupted.

This accident was the sixth in a series of other accidents which took place since the Nano was launched, the first being in March last. However, this recent accident is the first since Tata Motors declared the car ‘absolutely safe’ and that the previous researches declared that the car is free from any manufacturing defects.

India’s Finance Minister, Pranab Mukherjee announced on Saturday that the country’s economy is expected to improve by more than 8.5%, adding that the anticipated growth would extend to future years.

The announcement was made during the public meeting, which was organized by the Tamil Nadu Congress Committee. The Minister’s address was part of the celebrations of the 125th anniversary of the Indian National Congress.

Ramalinga Raju, the founder and former Chairman of Satyam Computers, is not the only one who has been a witness to the leniency shown by the court, for there are many other related instances.

The spectacular collapse of the Polly Peck business empire, everyone must remember, had the master mind Asil Nadir behind it. He is said to have allegedly transferred 34 million pounds to his own account. But he will soon be returning to Britain on bail and won’t even face any sort of punishment for escaping from the country. For, the bail, a UK court says, had never been properly set.

Questions are being raised on the Government's decision to ban the export of iron ore. The High Court division bench says that it is not right to ban the export of iron ore just because illegal mining was taking place as this would result in thousands of people losing their jobs and the state losing its revenue.

Some serious procedural lapses in an emergency evacuation resulted in injuring 14 passengers in the flight 9W2302 of a Chennai-bound Jet Airways plane.

Following the lapse, the Directorate General of Civil Aviation (DGCA) has suspended the entire crew of 10, including two pilots, when the investigation found out that the evacuation had taken place subsequent to the false fire alarm.

To be able to utilize the untapped potential of the small and medium term enterprises, India's largest asset management company, Reliance MF (RMF) has started a new fund. The Small Cap Fund is going to invest predominantly in the small cap companies but will also look at the mid cap companies as well.

This is the first of its kind fund by Reliance MF and the announcement of the starting of the fund was done by Sundeep Sikka, CEO, Reliance Capital Asset Management. The fund manager for the NFO will be Sunil Singhania, Deputy Head, Equities, RMF.