Genpact Looking At US listing

Genpact BPOIndia’s largest BPO firm, Genpact, is speculating a US listing through an IPO to raise ov

Raised Interest Rates Benefited NRIs

Reserve Bank of IndiaAiming to control the inflation, the Reserve Bank of India has raised the interest rates on March 30. This unexpected increase in interest rates caused a drop of over 600 points in the Indian stock market on April 2 though the market recovered.
Long-term investor, such as NRIs have fully exhibited this response as they pumped nearly Rs.1 billion in months of February and March, whereas, earlier, they were sellers mainly due to high rupee-dollar rate and valuation concerns. The mutual funds have also eased off and become attractive for the investor.

Strengthened Rupee has mixed response from Industry

Indian CurrencyIndian industry looked confused over the issue whether the RBI should intervene in order to protect exporters from the gaining rupee or not.
As per CII, the domestic industry would have to accept a strengthening rupee in the short term, whereas, FICCI, Assocham and FIEO fancies RBI to check the sharp climb in the currency.

Transfer Pricing Provisions Ruled Out, If Tax Liability Absent

Authority for Advance Rulings has decided that the income-tax department cannot apply transfer pricing provisions, if a foreign company does not have a liability to pay tax. This ruling would give relief to the Netherlands-based Vanenburg Group BV which had shifted the entire shareholding of its Indian subsidiary Cordys R&D (India) Pvt Ltd to its Cordys Holdings BV (Netherlands).
Vanenburg Group had asked a judgment from the AAR on whether the relocation would draw capital gains tax and the transfer pricing provisions under Sections 92-92F of the Income-Tax Act, 1961.

Investors Prefer Online Trading

As per reports, approximately one-fifth of the retail turnover is being transacted online which is low as compared to markets like South Korea and Japan having 85% and 80% of the total retail turnover is transacted over the Internet. Hong Kong and Singapore market’s net-based transactions account for only 15% of the retail turnover.

Internet trading in India has grown 100% every year during the last 5 years. Almost 45% of the total retail trading is expected through the online network.

The Internet seems like the biggest leveler, enabler and differentiator as the broking industry will split into two parts where one would like to call itself wealth management providers while others will concentrate on the high volume business by providing lower charges.

Sunita Tests LOCAD-PTS

With the purposeSunita Williams of extending future exploratory journeys into space, the first major test on the

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News in Focus

Hyundai Motor India Share Price Target at Rs 2,050: Kotak Securities

Kotak Institutional Equities has issued a BUY recommendation for Hyundai Motor India, setting a 12-month fair value of Rs2,050 per share.

Hindustan Zinc Share Price Jumps 4.7%; Immediate Resistance at Rs 556

Hindustan Zinc share price jumped 4.7 percent in today's session as investors have turned bullish on the stock.

PNC Infratech Share Price Could Reach Rs 386: Geojit Financial Services Research

Geojit Financial Services has issued a BUY recommendation on PNC Infratech Ltd., setting a target price of Rs 386—implying a 27% upside from the current market price of Rs 305.

Mahanagar Gas Share Price Target at Rs 1760: Motilal Oswal Research

Mahanagar Gas (NSE: MAHGL) has received a BUY recommendation from Motilal Oswal Financial Services with a 12-month target price of Rs1,760, representing 32% upside from current levels of Rs1,330.

iGaming Innovator Cubeia launches Spin & Go’s

Swedish iGaming innovator Cubeia has launched Spin & Go’s, a dynamic poker tournament format designed to elevate short-session gameplay with jackpot potential.

Celestar’s Strategic Debut in the Online Slot Market

The online gaming industry just welcomed a formidable new contender.