Equity Linked Saving Schemes: How to save tax and create wealth


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Suzlon posts loss of Rs 253.57 cr for Oct-Dec

NEW DELHI: Hit by notional forex losses, Wind power equipment maker Suzlon today reported a loss of Rs 253.57 for the quarter ended on December 31, 2010. The company had a profit of Rs 14.10 crore in the same quarter last year, a statement said. "... notional forex losses have impacted our reported bottomline due to the significant volatility in the euro- rupee exchange rates," Suzlon Energy Chief Financial Officer Robin Banerjee said. The company's total income came down to Rs 4,494.37 crore for the December quarter compared to Rs 5,608.41 crore in the same period a year ago. Suzlon, for nine months to December, 2010, reported a loss of Rs 1,535.02 crore against a loss of Rs 794.25 crore in the same period last year. Banerjee added, "There has been progress on all financial parameters and we have delivered s...
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Indian OIS nearly steady; mkt awaits fresh cues

MUMBAI: Indian overnight indexed swaps (OIS) were largely steady on Friday as traders sought fresh triggers for further direction. At 1:35 p.m., the one-year OIS rate was at 7.35 percent compared with 7.37 percent at close on Thursday. The benchmark five-year swap was at 7.95 percent, from 7.98 percent on Thursday. Volumes were at 7.75 billion on the central bank's trading platform. "There are no fresh cues currently and there will be concerns on the next fiscal year's borrowing which will keep the pressure on the back end of the curve," said a senior trader at a foreign bank. Traders said they see the one-year OIS rate supported at 7.30 percent and five-year at 7.90 percent levels. The OIS curve has flattened this month with the one-year OIS rising 26 basis poi...
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LIC crosses 2.5 crore policies target

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