Capitalstars Updates: Top Corporate News:- 1 Feb 2018

top corporate news


Top Headlines Of The Day:- 1 Feb 2018

Ashok Leyland sees 22% volume growth in January 2018
Budget 2018: Jaitley allocates Rs 55,000 crore for MGNREGA
Govt introduces LTCG tax of 10% on capital gains over Rs1 lakh
Three public sector general insurers to be merged, listed as one entity
Petrol, diesel get excise duty cut of Rs 2

Ashok Leyland sees 22% volume growth in January 2018
Ashok Leyland Limited (ALL) reported strong 22% sales volume growth for the month of January 2018. Total sales were 18,101 units in January 2018 vs. 14,872 units in January 2017.
Among its sub-segments, M&HCV (Medium and Heavy Commercial Vehicles) saw 13% yoy growth. 13,643 units were sold in January 2018 against 12,056 units in January 2017. LCV (Light Commercial Vehicles) sales during January 2018 was 4,458 units against 2,816 units in January 2017, a growth of 58% YoY.

Budget 2018: Jaitley allocates Rs 55,000 crore for MGNREGA
Finance Minister Arun Jaitley on Thursday allocated Rs 55,000 crore for Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) for the financial year 2018-19, signaling the government’s continued intent to address concerns of rural distress in a politically significant year.
In Budget 2017-18, the finance ministry had initially allocated Rs 48,000 crore for the world’s largest job guarantee scheme. The rural development ministry has twice sought additional funds from the finance ministry.

Govt introduces LTCG tax of 10% on capital gains over Rs1 lakh
Finance minister Arun Jaitley introduced the much talked about long-term capital gains tax (LTCG) on a sale of listed securities on gains of over Rs1 lakh.
The move surprised D-Street as most analysts were factoring in a change in the definition of ‘Long Term’ to 2 or 3 years from 1 year.
Jaitley, introduced a long-term capital gains tax of 10 percent if the gains exceed Rs 100,000 without allowing the benefit of indexation. However, all gains until 31st January 2018 will be grandfathered and short-term capital gains remain unchanged at 15 percent.

Three public sector general insurers to be merged, listed as one entity
Three large public sector general insurance companies, United India Insurance, National Insurance and Oriental Insurance will be merged and listed on the stock exchanges, said finance minister Arun Jaitley in his Budget speech.

Petrol, diesel get excise duty cut of Rs 2
Finance Minister Arun Jaitley tabled the Budget on February 1, where among many other announcements, he ensured relief to the consumers by slashing excise duty on petrol and diesel.
The price of petrol and diesel has effectively come down by Rs 2 per liter after the government cut the excise duty. This includes both the qualities – branded and unbranded petrol and diesel. This move was expected after the petrol and diesel prices reached an all-time high in the past month.

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