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“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

29 Nov 2016

STOCK MARKET- Overnight TIPS- Stocks to look out for on November 29 + MORE TIPS.

The stocks which could witness significant movement on November 29 are Edelweiss Financial Services, Tata Steel, Tamil Nadu Newsprint & Papers, Tata Power Company, Adani Ports and Special Economic Zone, Tata Elxsi.
Edelweiss Financial Services: Edelweiss Asset Management Company is a wholly-owned subsidiary of Edelweiss Financial Services. Its onshore fund schemes are managed by JP Morgan Asset Management India.
Tata Steel: Tata Steel plans to sell UK’s speciality steel business to Liberty House for Rs 855 crore.
Tamil Nadu Newsprint & Papers and Tata Power Company: Tamil Nadu Newsprint & Papers and Tata Power Company will declare their Q2FY17 results on Tuesday. The share prices of these companies will be in focus.

Adani Ports and Special Economic Zone: Adani Group plans to ramp up Dhamra Port capacity to 300 million tonnes. DPCL has already received advance possession of 686 acres of land from Odisha government to go ahead with its second phase expansion.
Tata Elxsi: Tata Elxsi plans to drive growth through acquisitions. The company is planning to use over Rs 200 crore surplus cash in hand for such acquisitions.
By Lohit B 

Q2 results on November 29
Power major, Tata Power; and paper company Tamil Nadu Newsprint & Papers will come up with their respective earnings on Tuesday. In other results Kanoria Chemicals, National Fertilizers and Wanbury will also be reporting their Q2 on Tuesday, November 29.
Kanoria Chemicals & Industries Limited– The Company is a holding company, which is engaged in the manufacturing of chemical intermediates in India. The Company also has business interests in automotive and industrial electronics, textiles and renewable energy generation.

National Fertilizers Limited– The Company is engaged in producing and marketing urea, neem coated urea, bio-fertilisers (solid and liquid) and other allied industrial products. The Company's business segments are Urea and Other products, including industrial products, bio fertilisers and traded products.

Tamil Nadu Newsprint & Papers Limited- The Company is engaged in the business of printing and writing paper. The Company's segments include paper, energy, and cement. It also produces newsprints.

Tata Power Company Limited- The Company's principal businesses are in the areas of generation, transmission, distribution-cum-retail, power trading, power services, coal mines and logistics, strategic engineering for defense applications, solar photovoltaic (PV) manufacturing, and engineering, procurement and construction (EPC) services.

Wanbury Limited- The Company is a pharmaceutical company. The Company offers active pharmaceutical ingredients (APIs) in over 70 countries.
Shares of all the results affected stocks are likely to remain in focus when market opens for trading on Tuesday, Nov.29

Government tables amendments to Income Tax law

In a bid to curb the black money menace emanating out of unaccounted money, the government on Monday tabled amendments to the Income tax laws in the Parliament.
As per the amendments made to the Income Tax law, the declarant must pay 30 per cent tax on undisclosed income, along with 10 per cent penalty and 33 per cent surcharge.
The person declaring the unaccounted cash would have to deposit 25 per cent of the amount after paying tax and penalty. The surcharge, which will be at 33 percent, has been named Pradhan Mantri Garib Kalyan Cess.
The amount of money generated via penalty and surcharge will be used for economic and social economic projects like housing, irrigation, toilets, primary health, infra & education schemes.
Both the IT Act and Finance Bill will be amended. As per the current laws 30 per cent is levied on unaccountable income with no expense deductible.
The math can be explained as:
Suppose a person has Rs 100 unaccounted cash. 30 % Tax + 10 % penalty would be levied on that unaccounted Rs 100 which comes to be Rs 60 in hand. Of the Rs 40 which has been paid as tax and penalty, 33 per cent would be levied as surcharge on the quantum of tax that works out to be Rs 13.2, which is totalling off to Rs 53.2.

Lastly 25 per cent of (100-53.2= Rs 46.8) will be locked in for certain time and refunded thereafter.

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