Newsletter dated 27th April, 2015

1. THOUGHT OF THE DAY
“Sometimes it's the smallest decisions that can change your life forever”
ECONOMIC UPDATES
 Foreign investment into Indian equity markets during the current month
is one of the lowest in the last six months as overseas investors continued
to trim their exposure to domestic equities amid concerns about the levy of
minimum alternative tax and weak corporate earnings growth.
 An inter-ministerial panel will take up as many as 41 foreign direct
investment proposals, including that of Kotak Mahindra Bank, next week.
Kotak Mahindra Bank has approached the panel to seek nod for raising
foreign investment cap in bank to 55 per cent.
SEBI/CORPORATE UPDATES
 A total of 2,015 out of 5,305 companies listed on the Bombay Stock
Exchange and 263 out of 1,624 listed on the National Stock Exchange, as
well as some public sector firms and nationalised banks are yet to appoint
women directors. The Minister said the penalties will send a strong
message that this is a matter of public policy and has to be complied with.
 SEBI has issued Order of Cancellation of Registration Certificate of 7
erstwhile NSE Members.
 The new securities of 139.21 million equity shares of Rs 5 each issued
pursuant to the scheme of amalgamation of ING Vysya Bank with Kotak
Mahindra Bank are listed and permitted for trading on the exchange with
effect from today. These shares are ranking pari-passu with the existing
equity shares of the company.
RBI/TAX LAW UPDATES
 Income Tax department published list of 31 big tax defaulters in Delhi who
owe over Rs 1,500 crore tax to the government.
 No TDS certificate unless short payment defaults are paid. The TRACES
portal of Income-tax department is preventing deductors from issuing TDS
certificate unless past demands are paid and online correction submitted.
 Vide Press Note No.4 (2015 series) issued by Department of Industrial
Policy and Promotion, Govt. allows 49% FDI in Pension Sector.
 Vide Circular No. 14 /2015 dated 20th April 2015 The Central
Government has notified Foreign Trade Policy 2015 - 2020 –Salient
changes in Schemes of reward or incentive / advance authorization or
DFIA / EPCG or post export EPCG.
MARKET UPDATES
SENSEX
27,373.59 -64.35
CNX NIFTY
8,269.75 -35.50
DOLLAR/ RUPEE
63.62 0.05
MCX SILVER
36179.00 229.00
MCX GOLD
26,791.00 90.00
MCX CRUDE OIL
3647.00 -3.00
Dow Jones Industrial
average
18,080.14 21.45
Nasdaq Composite
5,092.08 36.02
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