Himank's Feed
Sep 4, 2015

Govt to tax collectors: give foreign companies a break

MUMBAI (Reuters) – India’s tax officials, long the scourge of foreign investors, are under government pressure to avoid aggressive claims against overseas funds and companies, as the country seeks to repair an image dented by high-profile tax battles.

The latest dust-up was over a largely overlooked minimum alternate tax (MAT), which had never been applied to foreign portfolio investors before late last year.

Sep 2, 2015

Foreign investors welcome India’s retreat in MAT tax row

MUMBAI, Sept 2 (Reuters) – Foreign portfolio investors on
Wednesday welcomed India’s decision to scrap efforts to make
foreign funds pay tax on past profits, but they remained wary of
the country’s unpredictable tax regime.

A high-profile row with foreign investors had erupted late
last year following the retrospective imposition of the minimum
alternative tax (MAT) on funds, including Aberdeen Asset
Management.

Aug 27, 2015

India to push corporate bond sales online in market overhaul – sources

MUMBAI, Aug 27 (Reuters) – India’s markets regulator plans
to overhaul the corporate debt market by pushing all issuance
onto an electronic platform as early as November, sources with
direct knowledge of the plan told Reuters, in a bid to boost
market activity.

The Securities and Exchange Board of India (SEBI) will
announce the proposal drafted by an internal regulatory panel
within a few weeks, and seek market feedback, said the sources,
who declined to be named as the plan is not yet public.

Aug 10, 2015

Investors in smaller cities line up to join stock rush

MUMBAI (Reuters) – India’s mutual funds are seeing a surge in stock investments from the hinterland as growing ranks of provincial retail investors help drive a two-year long rally.

Many major funds say they are seeing the fastest growth in fund flows from areas beyond India’s 15 largest cities, while growth from more-traditional investment centres such as Mumbai has slowed.

Aug 10, 2015

Investors in India’s smaller cities line up to join the stock rush

MUMBAI, Aug 10 (Reuters) – India’s mutual funds are seeing a
surge in stock investments from the hinterland as growing ranks
of provincial retail investors help drive a two-year long
rally.

Many major funds say they are seeing the fastest growth in
fund flows from areas beyond India’s 15 largest cities, while
growth from more-traditional investment centres such as Mumbai
has slowed.

Aug 6, 2015

Exclusive: India seeks to step up scrutiny of offshore wealth managers – sources

MUMBAI (Reuters) – Seeking to root out undeclared wealth, India’s market regulator has sent letters to some large wealth managers operating out of low-tax centers like Hong Kong and Singapore to try and bring them under its remit, people with knowledge of the matter said.

India’s government is cracking down on tax evasion as a means of boosting revenues, and in October said the state was prosecuting several individuals on suspicion of having undeclared assets outside the country.

Aug 6, 2015

India seeks to step up scrutiny of offshore wealth managers-sources

MUMBAI, Aug 6 (Reuters) – Seeking to root out undeclared
wealth, India’s market regulator has sent letters to some large
wealth managers operating out of low-tax centres like Hong Kong
and Singapore to try and bring them under its remit, people with
knowledge of the matter said.

India’s government is cracking down on tax evasion as a
means of boosting revenues, and in October said the state was
prosecuting several individuals on suspicion of having
undeclared assets outside the country.

Aug 6, 2015

EPFO to invest nearly $800 million in stocks in 2015/16

MUMBAI (Reuters) – India’s state pension fund plans to buy nearly $800 million in stocks this fiscal year, its commissioner said on Thursday, below expectations and signalling a cautious stance towards the first equity investments in its 64-year history.

The Employees’ Provident Fund Organisation (EPFO) will allocate 50 billion rupees ($784 million) in the year to March 2016 for exchange traded funds that track the country’s two main share indexes, but could increase that to as much as 70 billion to 80 billion rupees, the fund’s commissioner, K.K. Jalan, told reporters.

Aug 6, 2015

India state pension to invest nearly $800 mln in stocks in 2015/16

MUMBAI, Aug 6 (Reuters) – India’s state pension fund plans
to buy nearly $800 million in stocks this fiscal year, its
commissioner said on Thursday, below expectations and signalling
a cautious stance towards the first equity investments in its
64-year history.

The Employees’ Provident Fund Organisation (EPFO) will
allocate 50 billion rupees ($784 million) in the year to March
2016 for exchange traded funds that track the country’s two main
share indexes, but could increase that to as much as 70 billion
to 80 billion rupees, the fund’s commissioner, K.K. Jalan, told
reporters.

Jul 30, 2015

BNP Paribas to buy Sharekhan in brokerage push

MUMBAI (Reuters) – France’s biggest bank, BNP Paribas SA (BNPP.PA: Quote, Profile, Research, Stock Buzz), has agreed to buy Indian brokerage Sharekhan for an undisclosed sum as it looks to beef up retail broking operations in India, taking advantage of a surge in retail investments into stocks.

A rally in share markets that sent indexes to record highs in March is attracting hordes of individual investors, improving the outlook for retail brokers after years of weak profits.