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 The markets struck positive notes at the beginning of the year with the benchmark indices touching their fresh 22-month highs. The Sensex scaled a high of 17,790, but eventually ended with a marginal gain of 75 points at 17,540 this week. Mid- and small-caps outperformed the benchmark with significant gains of 3.4 per cent and 4 per cent, respectively. - Sensex hits 22-month high; mid-, small-caps shine - Mid-cap, small-cap indices ourperform Sensex - Sensex slips 75pts amid lacklustre trade - Sensex ends down 75 pts - Markets extend losses - Markets remain sideways Grasim was the top gainer among the Sensex stocks, up 11 per cent at Rs 2,755, followed by Jaiprakash Associates, up 10 per cent at Rs 162. DLF, Hindalco, Tata Power, Mahindra & Mahindra, Sterlite, Tata Steel, ACC, Reliance Communications and Sun Pharma were the other major gainers.
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On the back of steady growth in the economy, railway ministry officials indicate that Budgetary estimates outlined last year are likely to be met despite a shortfall in the earnings from passenger traffic and parcel services in the first three quarters of the current financial year (2009-10). - Robust growth for rlys may lead to rise in freight rates - Nandigram ready to give up farmland for railway project - Ministries look to jointly fund railway projects using NREGS - Fog leads to business losses worth Rs 450 cr - DIT joins hands with Railways Ministry to create awareness on ICT - Now, IRCTC to sell airline tickets “Revenue and plan expenditure has been proportionately higher than estimated. Growth of earnings from passenger traffic and parcel services has been slightly slow. However, with earnings from freight recording double-digit growth, revenue targets can be expected to be met,” a senior official at the ministry said.
Tata Mutual Fund today said it has announced a 30 per cent dividend for one of its schemes - Tata Tax Saving Fund. - Dhanalakshmi Bank takes additional directors on boards - NEWSALERT: Basant Seth appointed Syndicate Bank CMD - Indian Overseas Bank to raise Rs 800 cr by issuing bonds - Canara Bank receives award for rural financing - RBI rolls back floating provision norm - BOI announces domestic, overseas expansion plans The investors in Tata Tax Saving Fund would receive a 30 per cent dividend, at the rate of Rs 3 per unit on the face value of Rs 10 each, Tata MF said in a statement. Under the said scheme, the unit holders are provided medium to long term capital gains, along with income tax relief. The scheme came into existence in March 31, 1996, as an open ended equity linked saving scheme.
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete? -Vispy Contractor Banks not ready to withdraw prepayment penalty on foreclosure ELSS are tax-saving funds, with a lock-in period of three years that allow investors tax deduction of investment up to Rs 1 lakh. One should plan out these investments, rather than investing at a whim. You can withdraw your investment if you are able to secure a certificate from the income tax department that you haven’t made a claim against this investment. We are a working couple with a three-year old daughter. Both of us are 32 years old and want to cover ourselves for Rs 25 lakh each. Should we buy Aviva Ulip? For each one of us the annual premium is Rs 50,000 for 30 years with death benefit of Rs 25 lakh; or should we buy a term policy for Rs 25 lakh each and invest the rest in PPF and mutual funds (currently we invest Rs 1.2 lakh per annum in MFs). -Aparna Insurance and investments do not mix well.