INDIAN BENCHMARKS ends on a negative note.
INDIAN EQUITY BENCHMARKS erased all its early gains and ended in the red on the back of profit booking.
Further, Hindalco Industries net profit declined 48.5% to Rs 248.15 crore on 20.9% growth in net sales to Rs 8359.85 crore in Q4 March 2014 over Q4 March 2013. JSW Steel reported quarterly crude steel production at 3.10 million tons for Q1 FY2014-15 showing a growth of 8% over the corresponding quarter of previous year.
The crucial resistance for Nifty is now seen at 7730 and above this 7810.Support for the immediate term is now placed at 7480 and next support will be 7540.
Highlights of the budget presented by Finance Minister Arun Jaitley
FISCAL DEFICIT
Accepts fiscal deficit target of 4.1 percent of GDP for 2014/15
Fiscal deficit seen at 3.6 percent of GDP in 2015/16
Tax-to- GDP ratio must be raised
GROWTH
Aims for sustained growth of 7-8 percent in the next 3-4 years
Finance minister says he is bound to usher in policies for higher growth, lower inflation
TAXATION
Aims to approve goods and services tax by end of this year
Will not change rules on retrospective taxation All pending cases of retrospective tax for indirect transfers to be examined by a high-level committee before action is taken
Proposes changes in transfer pricing mechanism
INVESTMENT
Raises limit on foreign direct investment in defence sector from 26 per cent to 49 per cent raises FDI limit in insurance sector to 49 percent Earmarks 70.6 billion rupees to create 100 'smart cities' Will provide the necessary tax changes to introduce real estate investment trusts and infrastructure investment trusts Proposes 40 billion rupees for affordable housing through national housing bank and extends tax incentives for housing loans
SUBSIDIES
Plans to make food and petroleum subsidies more targeted
Rural job-guarantee scheme, which provides 100 days of paid employment a year, will become more focused on asset creation Proposes 80 billion rupees for rural housing scheme
AGRICULTURE
Will focus on achieving 4 percent growths per year in agriculture Sets farm credit target at 8 trillion rupees for 2014/15 Proposes a long-term rural credit fund with an initial corpus of 50 billion rupees
NEWS TO WATCH :
Watch out for Quaterly Earning of Infosys on 11 July 2014.
For more details call us to: 0731-6669900,6790000
Click here: capitalstars.com
INDIAN EQUITY BENCHMARKS erased all its early gains and ended in the red on the back of profit booking.
Further, Hindalco Industries net profit declined 48.5% to Rs 248.15 crore on 20.9% growth in net sales to Rs 8359.85 crore in Q4 March 2014 over Q4 March 2013. JSW Steel reported quarterly crude steel production at 3.10 million tons for Q1 FY2014-15 showing a growth of 8% over the corresponding quarter of previous year.
The crucial resistance for Nifty is now seen at 7730 and above this 7810.Support for the immediate term is now placed at 7480 and next support will be 7540.
Highlights of the budget presented by Finance Minister Arun Jaitley
FISCAL DEFICIT
Accepts fiscal deficit target of 4.1 percent of GDP for 2014/15
Fiscal deficit seen at 3.6 percent of GDP in 2015/16
Tax-to- GDP ratio must be raised
GROWTH
Aims for sustained growth of 7-8 percent in the next 3-4 years
Finance minister says he is bound to usher in policies for higher growth, lower inflation
TAXATION
Aims to approve goods and services tax by end of this year
Will not change rules on retrospective taxation All pending cases of retrospective tax for indirect transfers to be examined by a high-level committee before action is taken
Proposes changes in transfer pricing mechanism
INVESTMENT
Raises limit on foreign direct investment in defence sector from 26 per cent to 49 per cent raises FDI limit in insurance sector to 49 percent Earmarks 70.6 billion rupees to create 100 'smart cities' Will provide the necessary tax changes to introduce real estate investment trusts and infrastructure investment trusts Proposes 40 billion rupees for affordable housing through national housing bank and extends tax incentives for housing loans
SUBSIDIES
Plans to make food and petroleum subsidies more targeted
Rural job-guarantee scheme, which provides 100 days of paid employment a year, will become more focused on asset creation Proposes 80 billion rupees for rural housing scheme
AGRICULTURE
Will focus on achieving 4 percent growths per year in agriculture Sets farm credit target at 8 trillion rupees for 2014/15 Proposes a long-term rural credit fund with an initial corpus of 50 billion rupees
NEWS TO WATCH :
Watch out for Quaterly Earning of Infosys on 11 July 2014.
For more details call us to: 0731-6669900,6790000
Click here: capitalstars.com
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