Monday, March 31, 2008
Garware Wall - Allotment Of Equity Shares
Syncom Formulations - Outcome Of Share Allotmenet Committee Meeting
1. Allotment of 3,10,000 (Three Lakhs Ten Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each by way of preferential allotment at a premium of Rs 36/- (Rupees Thirty Six only) per Equity Share aggregate to Rs 142.60 Lacs (Rupees One Crores Forty Two Lacs Sixty Thousand only) to Shri Kedarmal Bankda, promoters of the Company and that the new Equity shares allotted shall rank pari passu in all respects including entitlement for dividend / interim dividend if any with the existing equity shares of the Company.
2. Allotment of 3,25,000 (Three Lacs Twenty Five Thousand) Warrants of Rs 46/- each (Rs Forty Six) convertible into equity shares of Rs 10/- each at a premium of Rs 36/- per share per Warrant, to Shri Rahul Bankda, the person acting in concert with promoters on preferential allotment basis.
Provogue India - Allotment Of Equity Shares
1. Mr. Nikhil Chaturvedi : 288914 No of Shares
2. Mr. Salil Chaturvedi : 282851 No of Shares
3. Mr. Deep Gupta : 106662 No of Shares
4. Mr Rakesh Rawat: 77609 No of Shares
5. Mr. Akhil Chaturvedi: 55732 No of Shares
6. Mr. Nigam Patel : 55732 No of Shares
7. Mr. Virendra Chhabra* : 32500 No of Shares
*Part of Promoter Group
18,00,000 convertible warrants were allotted to the above promoters / Promoter Group pursuant to a Special Resolution in accordance with Section 81(1A) and the Preferential issue Guidelines of SEBI passed by the members at the Extra Ordinary General Meeting held on February 16, 2007 and they have partly exercised their options and the remaining warrants can be converted into shares at the option of the said warrant holders on or before September 02, 2008।
Subsequent to allotment of shares against the convertible warrants the shareholding of the said Promoters are as follows:
1. Mr. Nikhil Chaturvedi : 1999050 No of Shares
% age of Capital : 9.996
2. Mr. Salil Chaturvedi : 1938267 No of Shares
% age of Capital : 9.692
3. Mr. Deep Gupta : 1069398 No of Shares
% age of Capital : 5.35
4. Mr. Rakesh Rawat: 778105 No of Shares
% age of Capital : 3.897
5. Mr. Akhil Chaturvedi: 558772 No of Shares
% age of Capital : 2.799
6. Mr. Nigam Patel : 558772 No of Shares
% age of Capital : 2.799
7. Mr. Virendra Chhabra* : 32500 No of Shares
% age of Capital : 0.163
* Part of Promoter Group
Further, the Promoters Shareholding in the paid up capital of the Company has been increased from 83,25,029 equity shares representing 43.59% of the equity capital to 92,25,029 equity shares representing 46.13% of the total paid up capital. The equity shares shall rank pari-passu in all respects including payment of Dividend with the existing Equity Shares of the Company.
Sybly Industries - Allotment Of Shares On Preferential Basis
Satyam Computer Services Allots Equity Shares
Saturday, March 29, 2008
Record Date For Andrew Yule & Company Reduction Of Capital Is 04 April 2008
This was fixed at the board meeting held on 19 March 2008.
i-flex Solutions - Allotment Of Equity Shares
In this lot, 2,000 equity shares have been allotted to Mr. Y M Kale, Director of the Company.
Friday, March 28, 2008
XL Telecom - Allotment Of Equity Shares Upon Conversion Of Warrants
1. Sree Sahasya Enterprises Pvt Ltd (Previously Sree Sahasya Investments Pvt Ltd) & (Promoter Group)
- No of shares allotted : 11,00,000
- No of warrants converted: 11,00,000
Consequently, the paid up Equity Share Capital of the Company has been increased from 17484972 Equity Shares of Rs 10/- each to 18584972 Equity Shares of Rs 10/-each.
Thursday, March 27, 2008
ICICI Bank Allots Equity Shares
These shares were allotted by the bank on 17 March 2008.
Malwa Cotton Spinning Mills To Allot Equity Shares
Futura Polyesters Equity Shareholders To Approve Scheme Of Arrangement
ITC - Allotment Of Shares Under ESOS
Consequently, with effect from March 24, 2008, the Issued and Subscribed Share Capital of the Company stands increased to Rs 376,86,10,050/- divided into 376,86,10,050 Ordinary Shares of Re 1/- each.
Wednesday, March 26, 2008
Wipro - Allotment Of Equity Shares
1. To issue and allot 2604 equity shares of Rs 2/- each pursuant to exercise of the stock options by the eligible employees under the Wipro Employee Stock Options Plan i.e., WESOP 2000 and Restricted Stock Unit Plan 2004.
2. Allotted 14200 equity shares of par value of Rs 2/- to JP Morgan Chase Bank, the Companys depository as underlying shares in respect of ADRs to be issued and allocated to the purchasers, pursuant to the exercise of the stock options granted to the employees under the Companys ADS Restricted Stock Unit Plan- 2004.
HDFC - Allotment Of Equity Shares
Post the above allotment, the paid-up equity share capital of the corporation would stand at Rs 284,03,79,850 consisting of 28,40,37,985 equity shares of Rs 10 each.
The summary of the FCCBs converted till date is as follows:
- Total FCCBs issued (Face Value USD 100000): 5000
- Number of FCCBs converted till date: 3819
- %ge converted: 76.38%.
Tuesday, March 25, 2008
Kirloskar Electric Equity Shareholders Approve Scheme Of Arrangement & Amalgamation
United Spirits Equity Shareholders & Creditors To Approve Scheme Of Amalgamation
GTL Infrastructure - Allotment Of Equity Shares
Arvind International - Allotment Of Equity Shares
1. Anupama Bajoria (Promoter): 3,00,000 No of shares allotted
2. Hema Agarwal (Non-Promoter): 3,50,000 No of shares allotted
3. Kishan Daruka (Non-Promoter): 1,00,000 No of shares allotted
4. Nirmal Kumar Agarwal (Non-Promoter): 3,50,000 No of shares allotted
5. Ranju Maheshwari (Non-Promoter): 1,00,000 No of shares allotted
6. Sanjay Budhia (Non-Promoter): 5,00,000 No of shares allotted
7. Shashi Agarwal (Non-Promoter): 1,00,000 No of shares allotted
8. Shyam Sunder Newer (Non-Promoter): 1,00,000 No of shares allotted
9. Sumit Goyal (Non-Promoter): 1,00,000 No of shares allotted
10. Sunil Kumar Poddar (Non-Promoter): 1,00,000 No of shares allotted
11. Sunita Daruka (Non-Promoter): 1,00,000 No of shares allotted.
Monday, March 24, 2008
Patni Computer - Allotment Of Equity Shares
Mastek - Allotment Of Shares Under ESOP
- Number of shares: 285,34,908
- Paid up Share Capital: 14,26,74,540.
Sintex Industries - Allotment Of Equity Shares On Conversion Of Warrants
Details of Allotment of Equity Shares on conversion of Warrants:
Name of Allottee - Opel Securities Pvt Ltd
No. of warrants exercised for conversion - 1344000
No. of Equity Shares of Rs 2/- issued - 1344000
Name of Allottee - Kolon Investment Pvt Ltd
No. of warrants exercised for conversion - 1344000
No. of Equity Shares of Rs 2/- issued - 1344000
Consequently, on the issuance of 26,88,000 Equity Shares of Rs 2/- each as aforesaid, the paid up share capital of the Company as on March 24, 2008 stands increased to 13,64,95,433 equity shares of Rs 2/- each, amounting to Rs 27,29,90,866/-/- from 13,38,07,433 equity shares of Rs 2/- each amounting to Rs 26,76,14,866/-.
IT Stocks In Demand
Infosys Technologies saw volumes of 1.59 lakh shares, Satyam Computer Services clocked volumes of 1.89 lakh shares), Wipro notched volumes of 1.06 lakh shares while 90,068 shares were traded on the TCS counter on BSE.
The BSE Sensex was up 96.04 points or 0.64% to 15,090.87 on positive cues from the global markets. On Thursday, 20 March 2008, US stocks closed their best week in nearly two months and are seen extending the solid rally this week, bolstered by the Federal Reserve's aggressive liquidity action.
The BSE IT index outperformed the market over the past one month to 19 March 2008, declining 12.47% as against the Sensex's 17.04% decline. It underperformed the market in the past three months, sliding 22.01% against the Sensex's fall of 21.75%.
Meanwhile, the Indian rupee was trading at 40.35/36 per dollar, stronger than Wednesday's close of 40.43/44. The currency market was shut on Thursday and Friday for religious holidays.
IT firms derive over 50% of their revenues from exports to US markets.
Thursday, March 20, 2008
AXIS Bank - Allotment Of Equity Shares Under ESOP
The paid up share capital of the Bank will accordingly get increased to 35,77,09,669 equity shares from 35,76,40,689 equity shares.
Shree Renuka Sugars Fixes Record Date For Stock Split
Shiv Vani Oil - Allotment Of Equity Shares On Conversion Of FCCBs
1. Name: Barclays Capital Mauritius Ltd
No of Shares allotted: 3,37,921
No of FCCBs Converted: 2000
2. Name: Goldman Sachs Investments (Mauritius) Ltd
No of Shares allotted: 1,68,960
No of FCCBs Converted: 1000
3. Name: Deutsche Bank A G London
No of Shares allotted: 6,75,843
No of FCCBs Converted: 4000
4. Name: ICICI Bank, Canada
No of Shares allotted: 23,65,453
No of FCCBs Converted: 14000
Wednesday, March 19, 2008
Arshiya International - Allotment Of Equity Shares
Further the Company has informed that, the face value of the Equity Shares has been sub-divided from Rs 10/- to Rs 2/- per share vide a resolution passed at an Annual General Meeting of the members of the Company held on September 10, 2007 and accordingly allotment of equity shares have been made at Rs 2/- per share.
Infotrek Syscom To Issue And Allot Warrants
Hindustan Unilever - Allotment Of Equity Shares Under ESOP
Therefore, the paid-up capital of the Company has increased to 217,79,83,566 shares & the issued capital has increased to 220,82,19,338 shares.
Fem Care Equity Shareholders Approve Scheme Of Amalgamation
Tuesday, March 18, 2008
Wanbury - Allotment Of Equity Shares
3i Infotech - Allotment Of Equity Shares Under ESOS
Adlabs Films - Allotment Of Equity Shares
Pursuant to the allotment the total paid up share capital of the Company shall be Rs 23,06,30,850/- divided into 4,61,26,170 equity shares of Rs 5 each fully paid up.
Further pursuant to the allotment the Networth of the Company shall be Rs 654.84 crores.
The outstanding amount of Zero Coupon Foreign Currency Convertible Bonds is now 2,06,50,000 Euros in value.
Gujarat NRE - Allotment Of Equity Shares Upon Conversion Of FCCBs
Consequently, the Paid-up Capital of the Company has increased from 33,14,83,524 Equity Shares of Rs 10/- each to 33,38,02,616 Equity Shares of Rs 10/- each.
Videocon Appliances - Allotment Of Equity Shares
Monday, March 17, 2008
Dishman Pharmaceuticals - Allotment Of Equity Shares Upon Conversion Of FCCB
Consequently, the paid-up equity share capital of the Company has increased from 78671090 equity shares of Rs 2/- each to 79684113 equity shares of Rs 2/- each.
Tech Mahindra - Allotment Of Equity Shares
Kesar Petroproducts To Decrease Share Capital
Mumbai: Kesar Petroproducts Ltd has said that the members at the extra ordinary general meeting (EGM) of the company conducted on March 10 decided that as per the rehabilitation scheme by the Board of Industrial and Financial Reconstruction under the provisions of the Sick Industrial Companies Act, 1985, decrease of the existing fully paid up 2,67,31,735 equity shares of Rs 10 by issuing and allotting 2,67,317 new equity shares of Rs 10 each so that the new shares are issued in the ratio of one new equity share for every 100 existing equity shares.
Nicco Corporation Equity & Preference Shareholders Approve Scheme Of Arrangement
Nicco Corporation Ltd has informed that at the respective Meetings of the Preference Shareholders and the Equity Shareholders of the Company held on March 14, 2008 for the approval of a Scheme of Arrangement as proposed by the Company for the transfer of its Cables Division to Nicco Cables Ltd, the Shareholders have, by requisite majority approved the said Scheme.
Infotech Enterprises - Allotment Of Shares Under ASOPs
Saturday, March 15, 2008
Ontrack Systems - Allotment Of Equity Shares
Bhagawati Gases - Allotment Of Equity Shares
Consequent to the allotment, the paid up equity share capital of the Company has increased from Rs 15,72,02,930 consisting of 1,57,20,293 equity shares of Rs 10/- each to Rs 16,74,24,590 consisting of 1,67,42,459 equity shares of Rs 10/- each.
Friday, March 14, 2008
Siemens - Allotment Of Bonus Shares
Consequent to the allotment of the Bonus Shares, the paid-up share capital of the Company has increased from 168,580,100 Equity Shares of Rs 2 each fully paidup aggregating Rs 337,160,200 to 337,160,200 Equity Shares of Rs 2 each fully paidup aggregating Rs 674,320,400.
The shareholders, who held equity shares of the Company on the Record Date i.e. March 03, 2008 are eligible for Bonus Shares.
XL Telecom - Allotment Of Equity Shares
1. Name of the Bondholder: K Vasudeva Rao
No. of Shares allotted: 50,000
No of Warrants Converted: 50,000
2. Name of the Bondholder: V Visweswara Rao
No. of Shares allotted: 50,000
No of Warrants Converted: 50,000
3. Name of the Bondholder: Aneesh Mittal
No. of Shares allotted: 30,000
No of Warrants Converted: 30,000
4. Name of the Bondholder: Pramod Kumar Jain
No. of Shares allotted: 30,000
No of Warrants Converted: 30,000
Consequently, the paid up Equity Share Capital of the Company has been increased from 17194890 Equity Shares of Rs 10/- each to 17484972 Equity Shares of Rs 10/-each.
ICICI Bank - Allotment Of Equity Shares Under ESOS
HDFC - Allotment Of Equity Shares Under ESOS
Post the said allotment the paid-up equity share capital of the Corporation would stand at Rs 283,89,43,180 consisting of 28,38,94,318 equity shares of Rs 10 each.
Thursday, March 13, 2008
Listing Of Equity Shares Of V Guard Industries Ltd
HCL Infosystems - Allotment Of Equity Shares Under ESOS
NIIT - Allotment of shares under ESOP
Cambridge Solutions - Allotment Of Equity Shares
Wednesday, March 12, 2008
GTL Infrastructure - Allotment Of Equity Shares Upon Conversion Of Fccbs & Allotment Of Options Unde
Further the Company has informed that, the Nomination & Remuneration Committee of the Board of Directors of the Company at its meeting held on March 11, 2008, has made an allotment of 17,00,000 (Seventeen lacs only) Options, in terms of Employees Stock Option Scheme 2005 (ESOS 2005) of the Company.
Listing Of Equity Shares Of Rural Electrification Corporation Ltd
Hindustan Unilever - Allotment Of Equity Shares Under ESOP
Therefore, the paid-up capital of the Company has increased to 217,79,24,566 shares & the issued capital has increased to 220,81,60,338 shares.
Tuesday, March 11, 2008
La-Mere Apparels - Allotment Of Equity Shares
Listing Of Equity Shares Of Nahar Capital & Financial Services Ltd
Mahindra & Mahindra Financial - Allotment Of Equity Shares
As a consequence of the increase in the paid-up capital of the Company, the percentage shareholding of the Promoters, Mahindra & Mahindra Ltd stands reduced from 67.72% to 60.10%.
3i Infotech - Allotment Of Equity Shares Under ESOS
Cairn India - Allotment Of Shares
Balrampur Chini - Allotment Of Equity Shares
HDFC Bank - Allotment Of Equity Shares Under ESOS
Jubilant Organosys - Allotment Of Shares On Conversion Of FCCB''s
Monday, March 10, 2008
Satyam Computer Services Allots Equity Shares
Strides Arcolab - Allotment Of Equity Shares
Consequent to the allotment, the paid up equity share capital of the Company has increased from Rs 35,00,42,890 consisting of 35,004,289 equity shares of Rs 10/- each to Rs 39,00,42,890 consisting of 3,90,04,289 equity shares of Rs 10/- each.
Saturday, March 8, 2008
HCL Technologies - Allotment Of Equity Shares Under ESOP
HDFC - Allotment Of Equity Shares Under ESOS
Post the said allotment the paid-up equity share capital of the Corporation would stand at Rs 283,73,72,820 consisting of 28,37,37,282 equity shares of Rs 10 each.
Friday, March 7, 2008
Himatsingka Seide Allots Equity Shares
The paid up capital of the company stands at Rs 49,22,85,800 comprising of 98457160 equity shares of Rs 5 each.
These shares were allotted at the board meeting held on 07 March 2008.
Thursday, March 6, 2008
Edelweiss Capital - Allotment Of Equity Shares
Intec Securities - Allotment Of Equity Shares
IL&FS Investment - Allotment Of Shares
1. ESOP Scheme
- ESOP 2004: 18,756 equity shares allotted
- Face Value per Equity Share: Rs 10/-
- Price Per Share: Rs 36/-
2. ESOP Scheme
- ESOP 2006: 1,45,085 equity shares allotted
- Face Value per Equity Share: Rs 10/-
- Price Per Share: Rs 106/-
3. ESOP Scheme
- ESOP 2006: 10,000 equity shares allotted
- Face Value per Equity Share: Rs 10/-
- Price Per Share: Rs 102/-.
Bharti Airtel - Allotment Of Equity Shares
- 7,725 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 221/-
- 1,000 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 313/-
- 1,225 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 357/-
- 1,150 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 390/-
- 275 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 412/-
- 1,150 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 597/-
With the allotment of the above shares the equity base of the Company stand increased from present level of 1897894921 (Nos.) to 1897907446 (Nos.) Equity shares of Rs 10/- each.
Listing Of Equity Shares Of GSS America Infotech Ltd
Wednesday, March 5, 2008
UTV Software - Allotment Of Equity Shares
The said allotment has been made pursuant to the authority granted by the members at their Annual General meeting held on August 24, 2006.
Pursuant to the aforesaid conversion the total paid equity share capital of the Company has increased and now consist of 2,48,42,968 equity shares of Rs 10/- each aggregating to Rs 24,84,29,680/-
ACC - Allotment Of Shares Against Exercise Of ESOS
ESOS 2003 : 150 shares
ESOS 2004 : 1,500 shares
Consequently, the paid up Share Capital of the Company has increased from 18,76,32,833 shares to 18,76,34,483 shares of Rs 10/- face value, as of date.
Tuesday, March 4, 2008
Videocon Industries - Allotment Of Equity Shares
Ashirwad Steels - Allotment Of Equity Shares
I. Under Promoters Group:
1. Name of the Applicant : Meghdoot Vyapaar Pvt Ltd
- Number of Shares allotted: 1,350,000
2. Name of the Applicant : Sanyog Nirman Pvt Ltd
- Number of Shares allotted: 6,15,000
3. Name of the Applicant : Bahula Resources Ltd
- Number of Shares allotted: 80,000
II. Under Non Promoters Group:
4. Name of the Applicant : Rosy Dealcom Pvt Ltd
- Number of Shares allotted: 2,00,000
5. Name of the Applicant : Vinayak Finlease Pvt Ltd
- Number of Shares allotted: 1,40,000
6. Name of the Applicant : Aspolight Agencies Pvt Ltd
- Number of Shares allotted: 1,70,000
7. Name of the Applicant : Boosom Marketing Pvt Ltd
- Number of Shares allotted: 1,30,000
8. Name of the Applicant : Green Mark Securities Pvt Ltd
- Number of Shares allotted: 1,48,000
9. Name of the Applicant : Proctor Pratistan & Trading Pvt Ltd
- Number of Shares allotted: 1,16,000
10. Name of the Applicant : Binapani Traders Pvt Ltd
- Number of Shares allotted: 60,000
11. Name of the Applicant : Baglas Traders Pvt Ltd
- Number of Shares allotted: 90,000
12. Name of the Applicant : Kanishk Promoter Pvt Ltd
- Number of Shares allotted: 1,90,000
13. Name of the Applicant: Rajlakmi Vanijya Pvt Ltd
- Number of Shares allotted: 1,60,000
14. Name of the Applicant : Variety Commodities Pvt Ltd
- Number of Shares allotted: 1,68,600
Monday, March 3, 2008
Sun Pharmaceutical - Allotment Of Equity Shares Against Conversion Of Fccbs
Consequently, the paid up Equity Share Capital of the Company has increased from 20,14,77,473 Equity Shares of Rs 5/- each to 20,45,97,557 Equity Shares of Rs 5/- each, as of date.
Tata Teleservices - Allotment Of Equity Shares
Saturday, March 1, 2008
'Save Tiger' Not On FM's Mind, Only Rs 50 Cr Allocated
While presenting the national budget for 2008-09 at the Lok Sabha, he expressed concern over the dwindling number of tigers, calling the situation "alarming".
This amount is the Budget for 29 tiger reserves across India, averaging less than Rs 2 crore per tiger reserve.
While numbers allocated may have doubled since last Budget for tigers, environmentalists might feel the allocation still remains abysmally low
Mobile Handsets To Become Costlier
In his Budget speech, Finance Minister P Chidambaram said: "Excise duty of one per cent, called National Calamity Contingent Duty, is now imposed on polyester filament yarn, which is the only yarn suffering this excise duty. I propose to remove that duty and shift the levy to cellular mobile phones."
"It will definitely increase the prices of mobile phones," LG Business Group Head (GSM) Anil Arora told PTI when asked about the impact of the proposed move.
The proposal may translate into a corresponding one per cent hike in price of mobile handsets. However, a full impact of this needs to be reviewed, a Nokia spokesperson said.
Echoing similar sentiments, Indian Cellular Association President Pankaj Mohindroo said the proposed move of levying one per cent excise duty would increase the prices of mobile phone sets.
When asked how much the prices would go up, he said, "The price rise will not be killing... it will be minimal."
Global cellular handsets majors Nokia, Samsung, Motorola and LG have their mobile manufacturing plants in India.
Budget: India Inc Ready With Charter Of Expectations
Here are the major expectations of the various industry sectors:
Textile industry hit by a rising rupee expects the textile up-gradation fund increased to Rs 1,700 crore.
The Information Technology sector hope its tax holiday is extended beyond 2009.
Cement, which had been hit hard in the last Budget, is asking for a cut in Value Added Tax rates to 4 per cent.
The tobacco industry is simply hoping for a tax hike that is not too steep but they fear a new cess will be imposed like in most years.
But will investors gain today? The market isn’t too excited and Budget is expected to be a non event.
According to CNBC-TV18 analysis, no direction is expected from the market when trade opens. The market is expected to be fixed in a range depending on the US market.
Relief is expected in the market after the session.
Chidambaram Showers More Money On Sports
The Budget includes Rs 890 crore as plan outlay and Rs 221.81 crore as non-plan outlay.
"The Commonwealth Games are only 947 days away. As promised, we shall provide Rs 624 crore in 2008-09. I would urge the authorities concerned to adhere to the strict timelines and the quality standards," Chidambaram said in his Budget speech in Parliament on Friday.
The Commonwealth Games will be held in Delhi October 3-14, 2010.
The provision is meant for upgradation/renovation of the Sports Authority of India stadiums, tennis stadium, upgradation/creation of training venues and preparation of teams for the Games.
A provision has also been made for the grant of loans to the organising committee for holding the Games.
The Finance Minister also provided some relief to the sports good manufacturers.
"To provide a fillip to the manufacturers of sports goods, I propose to reduce the duty on specified machinery from 7.5 per cent to five per cent. I also propose to exempt from duty specified raw materials for sports goods," he said.
An amount of Rs 67.20 crore has been earmarked for different projects/schemes of Northeastern states, including Sikkim, for youth welfare scheme, sports and games.
Budget 2008 Brings Cheers To Middle Class
Finance Minister, P Chidambaram announced, "Salaries up to Rs 1,50,000 — nil, Rs 1,50,000 to Rs 3,00,000 — 10 per cent, Rs 3,00,000 to Rs 5, 00,000 —20 per cent, and Rs 5,00,001 and above 30 per cent.
The above line from the Finance Minister brought a smile to the faces of lakhs of middle class families like the Gulatis, a smart rejig of the income tax slabs bringing a hefty reduction in income tax across board, especially for those who are at the lower end of the tax bracket, women and senior citizens.
Advocate, S K Gulati says, "Our Finance Minister has given relief by increasing the tax limit to the general public. I'm happy about the cut in taxes."
Dr Shravan Kumar Chhabra says, "Inputs for the drug manufacturers duty cut have been made and that will go a long way in cutting down the cost of the medicines, also the 2.25 lakh tax cut for senior citizens makes me happy"
And the benefits will be substantial with an income of exactly Rs 5,00,000 per annum; one will now pay Rs 55,000 compared to Rs 99,000 earlier, which is — a neat saving of Rs 44,000.
The FM has also made a large number of items cheaper to buy, expect a cut of up to Rs 15,000 in the price of small cars, and motorcycles and scooters could be cheaper by Rs 2000.
Water purifiers and medicines have also got cheaper across the board.
The ladies of the Gulati household have mixed views on the budget as the lady of the house Lakshmi Gulati says, "Except water purifiers and cereals there is nothing really for housewives, I am disappointed."
For the salaried class there is very little to fault Mr Chidambaram, but for those with an inclination towards equities, take note that short-term capital gains tax has been hiked to 15 per cent from 10 per cent earlier.
So think before you do those quick daily trades as the FM's message is clear — it's better to be a long-term investor than a day trader.
GTL Infrastructure - Allotment Of Equity Shares Upon Conversion Of Fccbs
Religare Enterprises - Allotment Of Equity Shares
Mastek - Allotment Of Shares Under ESOP
- Number of shares: 285,33,731
- Paid up Share Capital: 14,26,68,655.