It has been more than two decades of reliable catering to the requirement of FIBC’s, container liner, leno bag, geo textile, ground cover, shade nets, hale nets, wind breakers and constructive cover from fully integrated, clean room 30000 square meter manufacturing facility, for the company.
With its current growth initiative, NCIL has entered into other technical textile segments like Geotech and Agrotech.
One may buy stocks of RIL for target price of Rs.1,175-1200 in next 1 year. I would update the valuations after regulatory approvals and more clarity on financials involved in deal.
Reliance Industries & British Petroleum deal : Stock recommendation
Reliance Industries Ltd. (RIL) and British Petroleum (BP) has announced a partnership deal. Let's see if this new development will help RIL and it's investors or not.
BP will be buying a 30% stake in 23 oil and gas production-sharing contracts that RIL operates in India. This includes oil producing KG-D6 block. Also a 50:50 joint venture (JV) will be formed between the two companies for sourcing-marketing gas in India. This JV will accelerate creation of infrastructure for receiving, transporting and marketing natural gas.
BP will pay RIL US $7.2bn for consideration. Adding up performance payments of up to US $1.8bn based on exploration success in future, combined investment could amount to US $20bn.
This deal is definitely positive for RIL since expertise of both companies may transform into optimization of existing oil producing blocks and enhancement of resources for exploration activities. The transaction amount evaluates RIL stock at Rs.363/share to the east coast blocks against valuation of Rs.409/share as estimated by one of the stock broking firm. BP will incur other capex costs as exploration projects proceed.
The Income Tax Department has slapped a tax demand of over Rs 450 crore on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed today.
Onshore software development is the practice wherein Indian companies send their software engineers on short assignments (3-6 months) to companies based in Europe, the US, and other nations.
"A notice has been issued to Infosys.. for the assessment year 2007-08 as demand of Rs 657.81 crore was created... which was revised to Rs 456.38 crore in a rectification order," Minister of State for Finance S S Palanimanickam said in a written reply to the Lok Sabha.
He further said, "Revenue from software development activity and technical manpower deputed abroad have not been considered as export income eligible for deduction under 10A/10B/10AA of the Income Tax Act, 1961.That the reason of down value of the Infosys at the end of the day.
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