ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Revival Doubtful

The market has not been amused by the emphasis on property and wealth taxes in the Draft Outline of the Fourth Plan. Fresh reports of Pakistani troop movements have also given a jolt. There was some relief when the Finance Minister declared that there was a limit to taxes on higher income brackets. Loading equities, nevertheless, had new friends.

The market has not been amused by the emphasis on property and wealth taxes in the Draft Outline of the Fourth Plan. Fresh reports of Pakistani troop movements have also given a jolt. There was some relief when the Finance Minister declared that there was a limit to taxes on higher income brackets. Loading equities, nevertheless, had new friends.

Speculatives declined all along the line as most bull operators unloaded. Substantial losses were recorded in steel shares, Kohinoor, Standard, National Rayon and Telco. Textile shares also generally tended to drift lower on reports of accumulation of stocks. In the cash section, SLM Maneklal, Sandvik Asia, Chemicals and Fibres and Ceat Tyres declined significantly. Steel shares rallied towards the end of the week on reports of early revision of steel retention prices.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Or

To gain instant access to this article (download).


Pay
INR 59

(Readers in India)


Pay
$ 6

(Readers outside India)

Support Us

Your Support will ensure EPW’s financial viability and sustainability.

The EPW produces independent and public-spirited scholarship and analyses of contemporary affairs every week. EPW is one of the few publications that keep alive the spirit of intellectual inquiry in the Indian media.

Often described as a publication with a “social conscience,” EPW has never shied away from taking strong editorial positions. Our publication is free from political pressure, or commercial interests. Our editorial independence is our pride.

We rely on your support to continue the endeavour of highlighting the challenges faced by the disadvantaged, writings from the margins, and scholarship on the most pertinent issues that concern contemporary Indian society.

Every contribution is valuable for our future.