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Large-cap stocks most attractive for FIIs
What is India News Service,
Sunday, May 8, 2005, 2200 hrs IST
Foreign Institutional Investors seem to prefer large-cap stocks. The proportion of such holdings in FII
portfolios has nearly doubled since 2003 (more).
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Refineries to share kerosene, LPG under-recovery burden
The petroleum ministry is all set to distribute
the under-recovery burden of oil marketing companies on cooking gas and kerosene
in a 1:1:1 proportion among upstream companies, OMCs and both public and private
refineries
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India to become new KPO hub: CII
India is all set to graduate from most preferred
business process outsourcing (BPO) destination to a knowledge process
outsourcing (KPO) destination.
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Not persuasive enough
Going purely by the record of evidence presented,
the Comptroller and Auditor General of Indiadoes not quite make out a persuasive
case of financial wrong-doing in the sale of Centaur Hotel properties belonging
to the Government, as the CAG report strongly hints at.
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Power producers: Winds of change impart volatility
THE momentum seen in profit growth of power
producers in 2003-04 has slackened. Changes such as the revamp of the legal
framework, securitisation of dues and progress towards open access in
distribution had contributed to the momentum leading to even an increase in
investment interest in the sector. * * *
The
tax is a burden on competitiveness
The fringe benefits tax (FBT) imposed on the
employer, on the value of benefits provided to employees, has stirred a hornet\92s
nest and caused consternation and resentment amongst corporates. India Inc is
today on the path of globalisation and the world has recognised India as an
emerging economic superpower. FBT, at 33.66%, would adversely affect the
competitiveness of the corporate sector, burdened as it is with a direct
disability of 13% vis-a-vis imports and a massive added disability by way of
transaction cost of doing business. In the era of acute competition, companies
can hardly afford to be extravagant in providing fringe benefits. * * *
China claims to be ahead of India in IT
China, whose software exports surged to
$2.8 billion, has claimed that the scale of its software industry has surpassed
that of India and South Korea. The scale of China's software industry in 2004
reached 230 billion yuan ($27.84 billion), up 2.8 times when compared to that of
five years ago, surpassing India and South Korea, a senior official from the
Chinese Ministry of Information Industry (MII) said.
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Low grain export prices cost Rs 1,608 cr in subsidy
By setting the export price of wheat at a level
lower than the central issue price, the ministry of consumer affairs had
disregarded a decision of a group of ministers set up for the purpose. This
resulted in an additional subsidy burden of Rs 1,608.63 crore during November
2000 to February 2004, the Comptroller -and Auditor-General of India (CAG) said
in a report tabled in Parliament last week.
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