TOP CORPORATE NEWS -25 FEB 2015

·Budget 2015: Better Tax laws is all one needs
Finance Minister Arun Jaitley is set to deliver his first full Budget which can create history for Indian economy. India’s tax regime has been characterized as complicated, short sighted and fickle. Tax rates change and new taxes are levied almost every new year. This year, the finance minister must simplify the tax code and lay down a broad framework of tax policies that will endure for 5-10 years.
·Budget 2015: All eyes on Investment in Infra and execution of GST
Finance Minister Arun Jaitley is set to deliver his first full Budget which can create history for Indian economy.The government expenditure must be directed towards long-term growth-generating avenues such as roads, railways, and ports development and affordable housing. Government expects investment to the tune of $250bn in the power sector.
·SpiceJet surges on clearing tax dues post stake buy
Shares of debt ridden carrier SpiceJet surged 5% to Rs25.30 on BSE on reports of clearing tax dues post stake buy.SpiceJet cleared all tax dues of Rs100 crore a day after the company received its first tranche of investment of Rs400crore from Mr. Ajay Singh (for stake buy of 58.46% from Kalanithi Maran) – sentimentally positive for SpiceJet.
·Metal shares gain post Chinese economic data
Metal & Mining companies rose, after the data showed that China's flash HSBC PMI index rose to 50.1 in February 2015 compared with a final reading of 49.7 in January 2015. The preliminary HSBC China Manufacturing Purchasing Managers' Index, a gauge of nationwide manufacturing activity, rose to 50.1 in February 2014 compared with a final reading of 49.7 in January 2015, HSBC Holdings PLC said today, (February 25, 2015).
·Jubilant Food Works rises on tie up with Indian Railways
Shares of Jubilant Food Works, which operates the Domino's Pizza brand in India, have climbed 3% to Rs1714 on the BSE after the company declared that it has tied up with Indian railways to deliver pizzas to the passengers. The stock opened at Rs1676.90, touched a high of Rs1719 and a low of Rs1668 intra-day.
·Asian Paints gains on investment plans in new plant
Asian Paints' rose over 1%, touching to Rs812, after the company said it is exploring the possibilities of setting up of a paint manufacturing plant in the southern states of the country.
·Central Bank may review priority sector norms
As per media reports, RBI is set to revise the priority sector lending norms in order to make the targets more achievable for banks. A formal announcement on the issue will be made by Finance Minister during the Budget speech. This would be positive for banking sectors especially private banks (Yes Bank, ICICI bank, Axis Bank etc) as they find relatively difficult to meet PSL norms.
·Government faces stiff opposition on Land Bill
Government face stiff opposition on Land Acquisition ordinance – Sentimentally negative for Infrastructure sector.The government came under fire from opposition over land acquisition ordinance. The finance ministry assured that the government would consult all parties on sensitive issues.
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