New Delhi, June 16 (PTI) Indraprastha Gas Ltd (IGL) today hiked Compressed Natural Gas (CNG) prices here by over 25 per cent, following the government's move to more than double the price of natural gas.
CNG rates in Delhi will go up by Rs 5.60 per kg - from Rs 21.90 to Rs 27.50 per kg, IGL said in a statement here.
"The new consumer price of Rs 27.50 per kg in Delhi and Rs 30.60 per kg in Noida, Greater Noida and Ghaziabad would be effective from midight tonight," it said.
The hike was necessitated because of the government's decision to raise natural gas prices from Rs 3.2 per cubic meter to Rs 7.5 per cubic meter (USD 4.2 per million British thermal unit).
IGL, however, did not increase the price of gas that it pipes to households for cooking purpose.
Wednesday, June 16, 2010
CNG prices hiked by Rs 5.60 per kg in New Delhi
Sensex opens 44 points higher
Mumbai, June 17 (PTI) The Bombay Stock Exchange benchmark Sensex opened higher by 44 points on buying by funds in heavyweight stocks amid a mixed pattern in the Asian region.
The 30-share index, which had gained 50.04 points in the previous session, added another 43.99 points to 17,506.86 in first five minutes of trading.
Similarly, the wide-based National Stock Exchange index Nifty gained 13.45 points to 5246.80 points at the same time.
Market leader Reliance Industries gained 0.51 per cent to Rs 1062.70 while oil major ONGC rose over 1 per cent to Rs 1175.90 in early trade.
Hong Kong's Hang Seng Index opened 0.67 per cent higher, while Japanese Nikkei index lost 0.58 per cent in early trade.
Tuesday, June 15, 2010
Sensex gains further ground on bullish global trend
Mumbai, June 16 (PTI) The Bombay Stock Exchange benchmark Sensex today rose further over 111 points in early trade today as funds remained net buyers in fundamentally strong shares amid a firming global trend.
The 30-share index, which gained 74.66 points in the previous session, added another 111.05 points to 17.523.88 points in the first five minutes of trading, largely supported by stocks in Bank and Technology shares.
The wide-based National Stock Exchange index Nifty gained 33.30 points to 5255.65 points at the same time.
The market remained firm in tandem with a higher trend in the Asian region, followed by overnight gain in the US market.
Govt drops plan to tax PF, pension funds withdrawals
The revisions in the Direct Tax Code (DTC), originally proposed in August 2009, also clarified that the tax exemption on interest up to Rs 1.5 lakh per annum on housing loans will continue. In a major concession to industry, the proposal to impose minimum alternate tax (MAT) on gross assets of a company was also shelved. MAT will continue to be applied on book profits as at present.
Another significant change is in the manner in which long-term capital gains on assets held for over a year will be treated. In the case of listed securities, where there is now no long-term capital gains tax, the proposal is that a proportion of the gain in the value of the securities will be added to the person’s income, with the proportion declining as the period of investment increases.
Revenue secretary Sunil Mitra said the government would entertain suggestions on the revised DTC draft till June 30. A Bill will be brought before Parliament in the monsoon session. Once passed by Parliament, the new tax code will replace the 1961 Income Tax Act and be implemented from April 1, 2011.
Under the revised DTC, retirement benefits, subject to specified limits, will be exempt unlike in the earlier version. These include gratuity, amounts received under VRS, commutation of pension linked to gratuity received or from encashment of leave at the time of retirement.
TOI
