Weekend news

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  • The tribune 27 the august
  • Weekend news

    1. 1. Weekend News<br />Presented by:-<br /> Maninder Vadhrah<br /> MBA 2C<br />
    2. 2. Dabba Trading causes huge losses: NCDEX<br />What is dabba trading?<br />It is the process used by broker to route their client’s trades (buys/sells orders) out side the stock exchange. The broker matches and executes order on his own. This saves transaction costs for both the broker and client.<br />
    3. 3. Dabba trading is done in all trading agri commodities, gold and even metals like steel.<br />Dabba trading on gold and steel was high in Punjab & Delhi, where in agri commodity it is high in Rajasthan.<br />This trade benefit the brokers, who are looking for an opportunity to offload some of their future contracts, bypass the exchanges as it helps them to save transaction charges & margins payable to the comex.<br />
    4. 4. Jairam dashes Vedanta’s hopes of mining bauxite<br />Vedanta resources plans for India appear to under siege with the environment ministry rejecting its proposal to mine bauxite in nilyamgiri Hills of Orissa<br />The refinery has allegedly violated the environment Protection act by increasing capacity to 6 million tones per year from 1 mtpa without getting the requisite clearance.<br />
    5. 5. Vedanta has plan to use bauxite from niyamgiri mines to operationalise the lanjigarh refinery. The mine would help the company to reduce raw material costs.<br />Now, the company will seek alternative bauxite mine to feed its alumina refinery after the central government denied permission to mine bauxite in Niyamgiri.<br />
    6. 6. PSB to file draft prospectus soon<br />Punjab & Sind bank is likely to file a draft with sebi by the end of august to raise about Rs. 600 crore from its initial public offer(IPO).<br />The funds proceeds would be used for business expansion. At , the same time the bank planned to increase its branch network from 918 to 1000 by the end of march 2011. <br />
    7. 7. Currently the government own 100% stake in the bank & is the only unlisted bank among 19 nationalized bank in the country.<br />The Government would offload about 18% stake and the bank expected to raiseRs.500 -600 crore from the public issue.<br />
    8. 8. Direct Taxes Code Bill gets Cabinet nod<br />Union Cabinet has approved a new direct tax code (DTC) Bill, which will provide relief to individual tax payer and simplify the direct tax regime from April 2011.<br />Tax limit goes up to Rs. 2 lakh.<br />More relief for women and senior citizens.<br />
    9. 9. Existing basic slabs Likely basic slabs<br />Income Tax Income Tax<br />Rs. 1.6 lakh to 5 lakh 10% Rs. 2 lakh to 5 lakh 10%<br />Rs. 5 lakh to 8 lakh 20% Rs. 5 lakh to 10 lakh 20%<br />Above 8 lakh 30% Above Rs. 10 lakh 30%<br />Current exemption limit for women is Exemption limit for women & senior <br />Rs. 1.9 lakh & for senior citizens it is citizens likely to be further increase.<br />Rs. 2.4 lakh .<br />

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