ICICI Bank posted stable asset quality and earnings for Q3FY18, GNPA’s remained little changed. However, the bottom-line remained subdued compared to the quarter and the previous year.

The tax efficiency feature in mutual fund investments stands reduced post Thursday's Union Budget announcement. The finance minister Arun Jaitley has introduced the long-term capital gain tax on equity/equity-related instruments on the gains over and above Rs. 1 lakh at 10 percent without the indexation benefit.

The PAT for the quarter came in at Rs. 15.27 crore, yoy increase of 3%. Taxes increased due to rise in deferred taxes attributed to the new capacities added.

Finance Minister Arun Jaitley in his Budget speech on Thursday announced that 56 unserved airports and 31 unserved helipads will be connected under regional air connectivity scheme (UDAN) of the government.

Furthering the Budget 2017 impetus on Housing for All, the government has assigned infrastructure status to affordable housing projects in this year's budget.On Thursday, the Finance Minister announced that the government will set up an affordable housing fund under the National Housing Bank (NHB).

The PAT for the quarter came in at Rs. 1.12 crore, yoy decline of 70.4 per cent. This was due to jump in interest expenses by 236.8 per cent yoy. Also, sharp decline in other income from Rs. 3.66 crore to Rs. 0.24 crore contributed to the decline in bottomline.

HEG standalone revenue for the quarter came in at Rs. 842.71 crore, registering 235.4 per cent yoy increase. 

IIFL Holdings on Wednesday announced to reorganize the company's corporate structure. The reorganization will result in three listed entities, one each for its Loans and Mortgages; Wealth and Asset Management; and Capital Markets businesses.

The government proposed 100 per cent deduction on revenue from Farmer Producer Companies, in the Union budget 2018. While deductions under section 80JJAA is extended to footwear industry, earlier, the criteria of a minimum period of 150 days employment was available only to the apparel industry.

In its initial reaction equity market has given a thumb down to budget as Nifty and Sensex eroded early gain post the announcement of Long-Term Tax Gain (LTCG) of 10 per cent on gain over Rs. 1,00,000 without indexation benefit.