Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: cpt :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd :: TDS :: ACCOUNTING STANDARD :: empanelment :: VAT RATES :: articles on VAT and GST in India
 
 
Budget Extravaganza »
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early
 Five things that you can expect from the Mumbai civic budget today
 GST all set for July 1 rollout but casts shadow on state budgets
 Income-Tax collection revised in Rajasthan budget
 No new taxes likely in Maharashtra Budget
 H.P. budget devoid of any financial prudence
 GST, demonetisation todecide budget priorities
 Railways to come up with mini-budget tomorrow
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes

Fabulous 5 lead post-Budget
March, 18th 2010

Just five companies of the BSE Sensex constituents have contributed more than 50% of the post-Budget rally in the benchmark index. The Budget was presented on February 26 and ever since the Sensex has gained nearly 8% or 1,236 points to close at 17,490 on Wednesday, hitting an eight-week high.

Leading from the front in rally were Reliance Industries Ltd (RIL) and ICICI Bank, adding together over 375 points to the Sensex. That constitutes 30% of the overall Sensex gain. RIL, which has the highest weightage of 13.15% among the constituents, has added over 227.41 points. ICICI Bank has added another 127 points.

The other top contributors were Housing Development Finance Corporation (HDFC) with 92 points, Infosys Technologies with 82 points and Larsen and Toubro (L&T) with 63 points. In contrast, HUL and ONGC were lagging, pulling Sensex down by 17 and 19 points, respectively. Interestingly, 28 out of 30 stocks were gainers in the post-Budget rally.

All these top gainers have strong fundamentals but remained on the sidelines ahead of the Budget, since fresh allocation of funds from overseas investors were not taking place, said Deven Choksey, MD, KR Choksey Securities.

He also added that the market is expecting RIL fourth quarter results to be better in view of the higher advance tax paid by the company. The company had paid Rs 770 crore as advance tax for the March quarter compared to Rs 365 crore a year ago.

Since February 25, stock prices of RIL has surged 13% while that of ICICI Bank gained 11.48%. During the period comprising 11 trading sessions, FIIs have purchased Indian equities worth Rs 13,000 crore; the highest monthly inflow (for March 2010 till date) since September 2009, when they invested Rs 18,344 crore.

On Wednesday, the BSE Sensex extended its rally by another 107 points or 0.61% to end the trading session at 17,490 while the NSE Nifty closed at 5,232, gaining 0.65% or 34 points.

The turnover on the NSE derivative segment shot up 23% to Rs 98,323 crore from the previous days turnover of Rs 79,943 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions