Editor's Desk

FIIs were net sellers of Rs 1,589.90 cr in cash on Monday

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Foreign Institutional Investors (FIIs) were net sellers of Rs 1,589.90 crore (provisional) in the cash segment on Monday, according to the information posted on the SEBI website. While FIIs made gross purchases of Rs 2,856.30 crore, their gross sales amounted to Rs 4,446.20 crore.

As per the data posted on the BSE website, Domestic Institutional Investors (DIIs) were net buyers of Rs 30.25 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,405.92 crore, their gross sales aggregated Rs 1,375.67 crore.

Read moreFIIs were net sellers of Rs 1,589.90 cr in cash on Monday

Inflation Pressure is seen in Smaller Cities

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Expect inflation to remain high and sticky through the year as the pressure on core inflation intensifies, even as the winter crop hits the market and eases food prices. Inflationary pressures from non-tradeable items are rising rapidly.

An analysis of the city level data proves that inflationary pressures are widespread across different tiers. In fact inflationary pressures are higher in small cities than in the main metros, indicating a broad-based growth process, and making the case for continued policy action even stronger.

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Income Tax India – Salaried, Firms, Partnerships, Professionals?

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We obtained Authenticated numbers from the Ministry of Finance / Dept of Revenue on the total number of Income tax Payers in India. We wanted to know the break up under each class and here is the breakup as given by IT Department on all India basis.

How many Salaried / Pensioners / Family pensioners with Interest filed returns for AY 2008-09 ?
The Number of Income Tax Payers / Assesses in India who have income from Salary, or Pension is 60.35 Lakh / 6.035 mn [Filed using ITR 1]

How many Income Tax Assesses are there in India who

Read moreIncome Tax India – Salaried, Firms, Partnerships, Professionals?

IRDA tightens ULIP norms – Implications and Analysis

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IRDA tightens ULIP norms and the following changes are effective from July 01, 2010 – Our Analysis on each of the norms follow,

  • Minimum policy term of five years – Overall improvement in quality of business, Long-term positive
  • All ULIPs (including pension/annuity products in accumulation phase) to carry sum assured – Render long-term protection element to ULIP (and ULIP-based pension and annuity) contracts, differentiating ULIPs from MFs

    Read moreIRDA tightens ULIP norms – Implications and Analysis

Diamond Power commences production from compounding unit

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Diamond Power Infrastructure, earlier known as Diamond Cables, has commenced production from its state-of-the-art compounding unit having annualised capacity of 18,000 Mt. The said unit can manufacture various types of PVC & XLPE compounds.

The company has invested Rs 8 crore on development of this facility, which will meet 70% of the raw material demand for the power cables. It manufactures about 40,000 km of assorted sizes or high and low tension cables and compounds are very critical cost and quality components for such cables.

Read moreDiamond Power commences production from compounding unit

SEBI to Rating agencies – Disclose Methodology + Fees Collected

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The Indian Rating Agencies – CRISIL, ICRA, Fitch, Care have been asked by the Stock Market Regulator – SEBI to disclose the Rating Methodology and the Fees it collected from the client to assign the rating. This is a major move in our view to achieve transparency in financial transaction and clean up the Financial markets, a mess created by Capitalists’ greed.

SEBI’s DGM Prasanta Mahapatra who was looking into the issue of achieving Transparency in Indian Corporate Rating system after the Collapse of American European Financial System. In his order he said,

6.1 Rating Procedure

Read moreSEBI to Rating agencies – Disclose Methodology + Fees Collected

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