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Dear
Members
The key benchmark indices edged higher,
by sustained buying by the FIIs and strong global markets.
FII bought stock worth Rs. 14,792 crs.
in the month of March. Foreign direct investment rose 15.4% to $ 1.72
billion in February 2010 over February 2009. Standard Chartered PLC has
become the first ever foreign company to be listed on Indian stock
exchanges through an IDR issue. The IDRs are likely to be listed by June.
SEBI, IRDA & RBI have released few
circulars. Key circulars among them are “Clarification on dealings between
a client and a stock broker”, “Disclosure of regulatory orders and
arbitration awards on stock exchange website” & “Master circular on
allotment of codes to stock exchanges, subsidiary management by stock
exchanges, governance of recognized stock exchanges and arbitration in
recognized stock exchanges” by SEBI. IRDA released circular on
“Rationalization of Motor Third Party Pool for Commercial Vehicles” both in
General & Reinsurance space.
Next RAIN monthly meeting is scheduled
on 8th April and the outcome of the meeting will be shared
separately.
IPL premier league 3 has not only
turned out a money spinner for the organizers but also for the taxman. The
Government has mopped up over Rs. 110
crs. as tax deducted at source, The revenue department collected TDS of Rs.
50 crs. on payments made by franchises and the TDS on various incomes
received by the Board of cricket control in India towards IPL-3 stood at
about Rs. 61 crs.
With best regards
V. Ganesh
Chairman – RAIN
www.rainnet.org
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