Domestic anti-avoidance law will prevail over treaty benefits in the event of a dispute under the Singapore and Mauritius treaties. This could threaten the lower tax rate for FPIs in the two years between April 1, 2017, and March 31, 2019.
The 30-share Sensex was trading 106.72 points down at 27,201.88 around the same time, while the 50-share Nifty index settled 26.9 points down at 8408.2.
The issue is entirely an offer for sale of a total of 1.54 cr shares (including anchor portion) by existing investors s including Singapore Exchange, Atticus Mauritius, Acacia Banyan Partners and Caldwell India Holdings Inc.
The bank's total income rose marginally to Rs 12,079.3 crore for the quarter under review, from Rs 12,050.6 crore in the year-ago period.
The bank's net profit in October-December quarter of previous fiscal had stood at Rs 206.13, State Bank of Bikaner & Jaipur (SBBJ) said in a BSE filing today.
A massive sell-off in domestic equities spooked by series of weak corporate earnings predominantly weighed on trade and kept pressure on the Indian currency.
The issue saw all round participation from investors, with retail buyers who were offered a 5 per cent discount, putting in bids for over Rs 1,000 crore.
Net profit increased to Rs 129 crore or Rs 3.27 per share in the quarter ended December compared to Rs 81 crore or Rs 2.60 per share.
When the underlying securities are equity ideally, the Fund of Funds too should be counted as an equity fund. This is a matter MFs have been hopeful of for much long.
When the underlying securities are equity ideally, the Fund of Funds too should be counted as an equity fund. This is a matter MFs have been hopeful of for long.
Over 65 per cent of the respondents in a Twitter poll conducted by ETMarkets.com said this would be the right time for Patanjali to think of an IPO.