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Fund SIP flows see biggest monthly dip since DeMo

DNMUM409673 | 3/14/2018 | Author : Kumar Shankar Roy | WC :504

Mumbai: Money collected through mutual fund systematic investment plans (SIP) may have started showing the first signs of a slowdown. With the government proposing to impose long-term capital gains (LTCG) tax on equity mutual funds, industry body Association of Mutual Funds of India (Amfi) data shows that SIP contribution in February 2018 fell to Rs 6,425 crore, a drop of Rs 219 crore compared to Rs 6,644 crore mopped up in January 2018.
The numbers for February 2018 are important because this is the first month after Union Finance Minister Arun Jaitley while presenting the Budget announced the LTCG tax on equity mutual fund gains. The Rs 219 crore month-on-month (m-o-m) drop in SIP contribution at an industry level also has another s
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Centre banking on EU to find ways to buy Iran oil
DNMUM422658 | 9/21/2018 12:00:00 AM | Author : Iftikhar Gilani | WC :269

New Delhi: Even as Chennai Petroleum has decided to stop processing Iranian crude oil from October to keep its insurance coverage, highly placed sources in the government here said that India was exploring a way out with the European Union for an alt
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Combination drugs ban hit to be marginal
DNMUM422663 | 9/21/2018 12:00:00 AM | Author : Edit | WC :231

After the ministry of health and family prohibited manufacture, sale and distribution of 328 fixed dose combination (FDC) drugs last week, the Supreme Court on Monday lifted the ban on four drugs, including Saridon, Piriton and Dart. The order came a
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OMDC settles creditor dues, comes out of NCLT
DNMUM422664 | 9/21/2018 12:00:00 AM | Author : Sumit Moitra | WC :284

Kolkata: Orissa Minerals Development Company (OMDC), a subsidiary of state-owned Rashtriya Ispat Nigam Ltd, has been able to settle dues of creditors.
The company has now come out from National Company Law Tribunal (NCLT) even after the initiati
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Gammon offers to settle terminal debt
DNMUM422665 | 9/21/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :576

Mumbai: Gammon Infrastructure Projects, the developer for Indira Container Terminal Private Ltd at the Mumbai Port Trust, plans to make a one-time settlement of around Rs 477 crore to the lenders if the project goes for re-bidding.
The rebid
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