DSIJ Mindshare

Finance Minister, Arun Jaitley in his budget speech introduced Long Term Capital Gains tax (LTCG) which will be applicable from April 1, 2018 onward. The LTCG, however, is being grandfathered . The stock highs of January 31 will be used to index the LTCG gains. This means when you sell a stock after April 2018 for price more than the high of the stock price on January 31, 2018, LTCG of 10 per cent will be applicable on the gains, which is exempt for gains uptill Rs. 1,00,000.

In a blow to hospitality company Hotel Leela Venture, the Supreme Court rejected its appeal and ordered it to pay a royalty of Rs. 258 crore to the Airport Authority of India (AAI) for possessing its 11,000 sq mt property near Mumbai International Airport.

The PAT for the quarter came in at Rs. 55.61 crore, yoy increase of 26.1 per cent. This was due to a one-time gain of Rs. 22.61 crore in the quarter.

Indian markets saw huge correction in-line with the global market sell-off. During the morning session on Tuesday, market witnessed third day of correction ahead of RBI monetary policy meet on Wednesday.

Overall volumes in futures & options currently stand at 67.56 lakh contracts with a turnover of Rs. 5,89,594.95 crore.