business

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

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?

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

Top 10 Frauds in Indian Banking Sector

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The Reserve Bank of India – RBI Maintains Data on Frauds on the basis of area of operation under which the frauds have been perpetrated. According to such data pertaining to the calendar year 2009, Top 10 Categories under which Frauds have been reported by banks (number wise and amount wise) are as follows,

Top 10 Categories of Fraud in the Indian Banking Sector [ Based on Number of Complaints]

  1. Credit Cards
  2. Deposits – Savings A/C

    3. Read moreTop 10 Frauds in Indian Banking Sector

Wipro 1QFY11 guidance offers no surprise

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Wipro’s numbers broadly as per expectation. Total revenues for the quarter came in Rs 70 Bn while revenues for IT-Services came in at Rs 52.6 Bn.

Wipro, like TCS, sustained its continued performance on margins (in IT-Services), improving margins sequentially by 0.6% to 24.4%, which we believe came in from better offshore leverage (offshore revenues moved up 90bps Q/Q to 50.6% of revenues and offshore volumes went up 4.8% Q/Q). That said, this quarter did not reflect the full impact of wage hikes as revised wages

Read moreWipro 1QFY11 guidance offers no surprise

Stocks reel under selling pressure from across all sectors

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Local equity markets are witnessing intense selling pressure from across all sectors on back of weak global cues. All Asian markets are trading in the negative terrain with Shanghai Composite declining by more than 4% and Jakarta Composite shedding around 3%. Moreover, most of the other Asian indices declined by more than one percentage point on the US SEC’s (Securities and Exchange Commission) fraud charges against Goldman Sachs. Back home, all sectors in the broader indices are trading in the red with Metal segment losing around 2.3%, followed by Oil & Gas, Power, Auto and Realty that also lost more than one percentage point. Adding to woes is the Downgrade of Indian Equities by Morgan Stanley to EqualWeight.

Coupled with the global events, RBI’s looming liquidity tightening measures

Read moreStocks reel under selling pressure from across all sectors