Bombay HC Sends Vodafone TP Case To DRP

Published on Fri, Nov 29,2013 | 22:19, Updated at Fri, Nov 29 at 22:21Source : CNBC-TV18 

BOMBAY HC SENDS VODAFONE TP CASE TO DRP

By: Sunil Jain, Partner & Head of Direct Tax practice, JSA

Vodafone/Shell Share Valuation Controversy
Shares issued by the Indian company of the group to the parent company should be issued at an arm's length valuation under transfer pricing regulations. In case of an undervaluation, there is an income taxable in the hands of the Indian company.

DEVELOPMENTS TODAY: November 29th, 2013

The Bombay High Court has dismissed the writ petition filed by Vodafone and granting a partial relief to the taxpayer remanded the share valuation controversy to the dispute resolution panel (DRP) which was approached simultaneously with the writ petition at the Bombay High Court.

Dismissal of the writ petition indicates that the 'theory of alternative remedy' has been adhered to and respected by the Bombay High Court.

The Supreme Court of India has time and again upheld the 'alternative remedy' doctrine, as per which where a petitioner seeking any relief under a writ (say asking for quashing of tax notices) has not exhausted all alternative remedies before approaching the High Court, the Hon'ble High Court will ask the relief seeking petitioner to first seek an alternative remedy under applicable statutory laws rather than invoking Article 226 jurisdiction under the Indian Constitution.

The DRP will examine and adjudicate on the issue of applicability of transfer pricing regulations to a simple issue of shares by an Indian company to its foreign parent.

It is understood that the parties will be free to approach the court again (by way of writ) if there is unhappiness with the decision of the DRP. The normal course after the DRP is the Income-tax appellate tribunal.

The Bombay HC may separately issue directions in the Shell company case with similar case which was also heard along with the Vodafone matter. It is expected that similar remanding may take place.

It is unclear at this stage if the taxpayer will approach the Supreme Court against this 'partial relief'.

'Partial relief' because while it has been observed that Vodafone has cause to feel harassed by the tax authorities' remanding of the matter to DRP with no decision on merits will keep the sword of uncertainty hanging on the two taxpayers and several others waiting in the wings for these two controversies to reach a resolution.

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Banks to Insurance Brokers: RBI issues draft guidelines

RBI today issued a set of draft guidelines that would enable banks to act as insurance brokers. Consequent to the announcement by the Finance Minister in the budget speech 2013-14 that banks will be permitted to act as insurance brokers, the Insurance Regulatory and Development Authority (IRDA) has formulated and notified the IRDA (Licensing of Banks as Insurance Brokers) Regulations, 2013 to enable banks to take up the business of insurance broking.

In order to enable banks to leverage their branch network for increasing insurance penetration, it has been decided to permit banks to undertake insurance broking business departmentally.

However, those eyeing the pie will have to meet the minimum eligibility criteria. For instance, banks must have a minimum net worth of Rs 500 crore and net non-performing asset (NPA) of less than 3 percent.

Banks must also ensure capital adequacy of atleast 10 percent and should have been profitable for the last three consecutive years. RBI guidelines also state that the bank staff acting as brokers cannot accept cash or non-cash incentives from the bank or the insurance company. Banks offering insurance broking services shall not enter into any arrangement for corporate agency or insurance referral business.

In order to ensure transparency, banks ought to disclose to the customers the details of remuneration received from various insurance companies for the broking business. The details of fees or brokerage received in respect of insurance broking business undertaken by them should also be disclosed. RBI states there should be a standardized system of assessing the needs of the customer across all branches offering insurance broking services.

The idea to allow allowed banks to act as brokers and sell products of more than one insurer was to increase the penetration of the sector across the country.

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India to take tough stand on food subsidy at WTO Bali meet

Ahead of WTO meet in Bali, India today decided to insist on permanent immunity from actions for breach of subsidy level on rolling out food security plan—a stand that can potentially derail talks next week.

Also read: India not responsible for WTO talks failure: Officials

The Cabinet headed by Prime Minister Manmohan Singh decided to insist on solution to the subsidy breach issue prior to finalisation of Trade Facilitation Agreement even if it means that New Delhi will be blamed for any potential failure in Bali, sources said.

The meeting gave Commerce Minister Anand Sharma a mandate to negotiate India's stand at the Bali WTO ministerial meeting beginning December 3-6.

The Commerce Ministry placed before the Cabinet three options but the bottom line was that India will not compromise on its stand that it should be allowed to provide subsidised food to all poor and offer the minimum support price to farmers even if the 10 percent ceiling on farm subsidy as provided in the WTO is breached, sources said.

The Cabinet decided on the second option which insists for the interim solution (four-year 'peace clause') must remain in place until a permanent solution is reached.

"We are also assured protection from challenge under the WTO agreement on subsidies and countervailing measures," sources said.

This proposal would protect India's food security plan from WTO penalties even if 10 per cent subsidy cap is breached.

Under the peace clause, a WTO member gets immunity against penalty for breaching the food subsidy cap. It would allow also India to procure foodgrains at the MSP and sell it at subsidised rates through the public distribution system.

As per the WTO norms, a developing nation can provide food subsidy of up to 10 per cent of the total farm output  India stance however, is likely to face stiff opposition at WTO, they said.

"In such a situation, considering India's consistent stand on a fair Bali package, it may not be desirable to endorse the TFA. In that case, it is likely that India may be blamed for a failure at Bali," sources said.

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Gold prices up in early Asian trade following U.S. Thanksgiving holiday

Investing.com - Gold prices rose in early Asian trade on Friday, lifted by a slightly weaker dollar and prospects for a solid holiday shopping season.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,244.60 a troy ounce, up 0.25%, with the contract settling 0.29% lower on Wednesday to end at USD1,237.90 a troy ounce. Comex gold fell to a four-and-a-half-month low of USD1,226.40 a troy ounce on Nov. 25.

Trade volumes were light on Thursday, with Comex floor trading scheduled to remain closed for Thanksgiving. An abbreviated session was slated for Friday.

The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.63, down 0.12%
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Natural gas gains on hopes for bullish supply report

Investing.com - Natural gas prices moved higher on Wednesday amid hopes that weekly supply data due out later will reveal colder weather has boosted demand for the commodity.

High or low temperatures hike the need for heating or air conditioning, thus increasing demand for natural gas at the nation's thermal power generators.

On the New York Mercantile Exchange, natural gas futures for delivery in January traded at USD3.902 per million British thermal units during U.S. trading, up 0.97%.

The commodity hit a session low of USD3.835 and a high of USD3.917.

The January contract settled up 0.57% at USD3.864 per million British thermal units on Tuesday.

Futures were likely to find support at USD3.788 per million British thermal units, the low from Nov. 19, and resistance at USD3.982, the high from June 19.

Investors took up positions on hopes supply data will show an increase in demand due to cold weather.

Early withdrawal estimates for Wednesday's storage data range from 5 billion cubic feet to 20 billion cubic feet, compared to a drop of 2 billion cubic feet during the same week a year earlier.

The five-year average change for the week is a decline of 15 billion cubic feet.

Total U.S. natural gas storage stood at 3.789 trillion cubic feet as of last week, 2.3% below last year's unusually high level but 0.4% above the five-year average for this time of year.

Meanwhile, updated weather forecasting models called for cold temperatures across most parts of the eastern half of the U.S. during the next ten days.

The heating season from November through March is the peak demand period for U.S. gas consumption.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in January were down 1.81% and trading at USD91.98 a barrel, while heating oil for January delivery were down 0.03% and trading at USD3.0416 per gallon.

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U.S. stocks gain on data, HP earnings; Dow up 0.15%

Investing.com - U.S. stocks rose on Wednesday after consumer sentiment data beat expectations, while better-than-expected earnings from Hewlett-Packard fueled the rally by boosting hopes for a robust holiday shopping season.

At the close of U.S. trading, the Dow Jones Industrial Average finished the day up 0.15%, the S&P 500 index rose 0.25%, while the Nasdaq Composite index rose 0.67%.

The University of Michigan said earlier that its index of overall consumer sentiment was revised up to 75.1 in November from a preliminary estimate of 72.0.

Economists had expected the index to be revised up to 73.5.

The report was released two days in advance due to the U.S. Thanksgiving holiday on Thursday.

Also on Wednesday, the Department of Labor said the number of individuals filing for initial jobless benefits last week declined by 10,000 to a two-month low of 316,000. Economists had forecast an increase of 4,000.

The jobs data was released one day early due to the U.S. holiday.

The upbeat data offset a report showing that U.S. durable goods orders fell 2% in October, worse than expectations for a 1.9% decline, while core durable goods orders were down 0.1%, compared to expectations for a 0.5% increase.

Wednesday's indicators boosted hopes for a more robust U.S. recovery, while on the flip side, market participants also traded on expectations for the Federal Reserve to keep its monthly bond-buying program in place through early 2014.

Ultra-loose monetary policies such as monthly bond purchases boost stock prices by driving down interest rates.

Separately computer maker Hewlett-Packard earlier reported fourth-quarter net income of USD1.01 per share and revenue of USD29.1 billion, both of which beat Wall Street consensus forecasts

Leading Dow Jones Industrial Average performers included Intel, up 1.04%, IBM, up 1.03%, and 3M, up 0.93%.

The Dow Jones Industrial Average's worst performers included McDonald's, down 1.15%, Walt Disney, down 0.60%, and Exxon Mobil, also down 0.51%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.65%, France's CAC 40 rose 0.36%, while Germany's DAX 30 rose 0.66%. Meanwhile, in the U.K. the FTSE 100 finished up 0.20%.

U.S. markets will be closed for the Thanksgiving holiday.

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Gold trims gains, stays firm on soft consumer confidence report

Investing.com - Gold prices moved off earlier highs but remained range bound and in positive territory on Tuesday after a soft U.S. consumer confidence report cemented expectations for the Federal Reserve to leave monetary stimulus programs in place until early 2014.

Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to drive recovery by pushing down long-term interest rates, weakening the dollar as long as they remain in effect.

Gold and the dollar tend to trade inversely with one another.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,242.55 during U.S. afternoon hours, up 0.08%.

Gold prices hit a session low of USD1,239.45 a troy ounce and high of USD1,257.85 a troy ounce.

Gold futures were likely to find support at USD1,227.45 a troy ounce, Monday's low, and resistance at USD1,257.85, Monday's high.

The February contract settled down 0.24% at USD1,241.60 a troy ounce on Monday.

The Conference Board reported earlier that its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October.

Analysts were expecting the index to rise to 72.9 this month, and the disappointing reading weakened demand for the dollar by keeping expectations alive for the Fed to hold off on scaling back monthly bond purchases until early 2014, which gave gold a boost though profit taking trimmed earlier gains.

The news offset official data revealing that the number of building permits issued in the U.S. rose to the highest level since January 2008 in October.

The Commerce Department reported earlier that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million units from September's total of 970,000. Analysts expected building permits to decline to 940,000 units in October.

Elsewhere in the U.S. housing sector, the Standard & Poor's/Case-Shiller 20-city home price index rose 0.7% in September from August and 13.3% on year in September.

The monthly increase met expectations, though September's on-year gain, the fastest since February of 2006, beat consensus forecasts for a 13.0% reading.

Still, gold rose due to the bearish pressures the soft consumer confidence report had on the dollar.

Elsewhere on the Comex, silver for March delivery was down 0.16% at USD19.895 a troy ounce, while copper for March delivery was down 0.37% and trading at USD3.218 a pound.

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Forex - Dollar slumps as soft confidence report fans Fed expectations

Investing.com - The dollar weakened against most major currencies on Tuesday after a widely-watched gauge of U.S. consumer confidence disappointed investors and bolstered ongoing expectations for the Federal Reserve to keep its dollar-weakening monetary stimulus programs in place through early 2014.

Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to drive recovery by pushing down long-term interest rates, weakening the dollar as long as they remain in effect.

In U.S. trading on Tuesday, EUR/USD was up 0.39% at 1.3570.

The Conference Board reported earlier that its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October.

Analysts were expecting the index to rise to 72.9 this month, and the disappointing reading weakened demand for the dollar by keeping expectations alive for the Fed to hold off on scaling back monthly bond purchases until early 2014, possibly in March, when Fed Chair Nominee Janet Yellen holds her first policy meeting as head of the U.S. central bank.

The news offset official data revealing that the number of building permits issued in the U.S. in October rose to its highest level since January 2008.

The Commerce Department reported earlier that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million units from September's total of 970,000. Analysts expected building permits to decline to 940,000 units in October.

Elsewhere in the U.S. housing sector, the Standard & Poor's/Case-Shiller 20-city home price index rose 0.7% in September from August and 13.3% on year in September.

The monthly increase met expectations, though September's on-year gain, the fastest since February of 2006, beat consensus forecasts for a 13.0% reading.

Meanwhile across the Atlantic Ocean, the euro shrugged off dovish remarks by European Central Bank board member Benoit Coeure, who said earlier that negative deposit rates are still a possibility.

The greenback was down against the pound, with GBP/USD up 0.34% at 1.6212.

Bank of England Governor Mark Carney reiterated that the bank's 7% target for unemployment was still a threshold at which the bank would consider raising interest rates.

"The exact timing of when that 7% threshold will be achieved is subject to uncertainty. We do our best to give our estimates of that uncertainty... One month's unemployment figures does not have a material change on those likelihoods," he said.

The comments came during testimony on the BoE's quarterly inflation report before parliament's Treasury committee.

On the economy, Carney said that "all the elements" were in place for a pick-up in activity, which gave the pound support.

The dollar was down against the yen, with USD/JPY down 0.37% at 101.30, and down against the Swiss franc, with USD/CHF down 0.57% at 0.9066.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.02% at 1.0546, AUD/USD down 0.33% at 0.9132 and NZD/USD trading down 0.04% at 0.8204.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.35% at 80.67.

On Wednesday, the U.S. is to release data on durable goods orders, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

The Labor Department is to release the weekly report on initial jobless claims one day ahead of schedule due to Thursday's Thanksgiving holiday.

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U.S. stocks gain on Iran deal, housing report weighs; Dow up 0.06%

Investing.com - U.S. stocks finished Monday mixed to higher after investors applauded Iran's weekend decision to limit its nuclear program, though soft sales figures out of the housing sector dampened gains.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.06%, the S&P 500 index fell 0.13%, while the Nasdaq Composite index rose 0.07%.

Weekend talks among the U.S., Russia, China, Britain, Germany, France and Iran ended in agreement that halted advancements in Iran's nuclear program in exchange for easing economic sanctions against Tehran.

Under the terms of the agreement, Iran will stop enriching uranium beyond 5%, and neutralize its stockpile of uranium enriched beyond that point.

Tehran will also grant more access to its facilities to nuclear inspectors in exchange for no new sanctions for six months.

Iran will also receive sanctions relief worth approximately USD7 billion in trade on oil, auto and airplane parts, gold and precious metals for six months.

Trade sanctions slapped on Iran due to its alleged nuclear ambitions have taken out more than 1 million barrels of oil per day from the global market in the past two years.

World powers have accused Iran of using its nuclear program to secretly develop nuclear weapons, an assertion the country has consistently denied.

Soft data out of the housing sector brought in the profit takers, especially in view that stock markets have risen due to improving economic indicators and also due to sentiments the Federal Reserve will keep monetary policy ultra-loose until 2014.

In a report, the National Association of Realtors said its pending home sales index declined by a seasonally adjusted 0.6% in October, disappointing market expectations for a 1.3% gain.

Year-on-year, pending home sales fell at annualized rate of 2.2% last month, outpacing expectations for a 1% decline after rising 2% in September.

Leading Dow Jones Industrial Average performers included Caterpillar, up 1.83%, Merck, up 1.52%, and American Express, up 0.91%.

The Dow Jones Industrial Average's worst performers included Boeing, down 2.12%, IBM, down 1.25%, and General Electric, down 0.98%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 0.53%, France's CAC 40 rose 0.55%, while Germany's DAX 30 rose 0.88%. Meanwhile, in the U.K. the FTSE 100 finished up 0.30%.

On Tuesday, the U.S. is to produce data on building permits, a leading indicator of future construction activity as well as a report on housing starts. The U.S. is also to release private sector data on consumer confidence and house price inflation.

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Gold prices up in early Asian trade as demand steady at current prices

Investing.com - Gold prices held onto overnight gains early in Asia Tuesday on price levels seen as favorable against demand.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,251.05 a troy ounce, up 0.12%, early in Asia. Overnight, gold prices hit a session low of USD1,227.45 a troy ounce and high of USD1,253.25 a troy ounce.

Weekend talks among the U.S., Russia, China, Britain, Germany, France and Iran ended in agreement that halted advancements in Iran's nuclear program in exchange for easing economic sanctions against Tehran.

Under the terms of the agreement, Iran will stop enriching uranium beyond 5% and neutralize its stockpile of uranium enriched beyond that point.

Tehran will also grant more access to its facilities to nuclear inspectors in exchange for no new sanctions for six months.

Iran will also receive sanctions relief worth approximately USD7 billion in trade on oil, auto and airplane parts, gold and precious metals for six months.

In a report, the National Association of Realtors said its pending home sales index declined by a seasonally adjusted 0.6% in October, disappointing market expectations for a 1.3% gain.

Year-on-year, pending home sales fell at annualized rate of 2.2% last month, outpacing expectations for a 1% decline after rising 2% in September.

Soft U.S. economic indicators often boost gold prices by cementing expectations that the Federal Reserve will hold off on dismantling monetary stimulus programs such as monthly asset purchases until early 2014 as opposed to December as once anticipated.

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Scotland names independence day for first time: March 24, 2016

By Andrew Osborn

LONDON (Reuters) - Scotland will become independent of the United Kingdom on March 24, 2016 if a majority of Scots vote to end their 306-year-old union next year, the Scottish government said on Sunday, naming its "date with destiny" for the first time.

Scotland's devolved government, which is controlled by the Scottish National Party (SNP), made the announcement as it prepared to release on Tuesday what it said would be the most detailed blueprint for an independent country yet.

Trailing in the independence debate by about 10 percentage points, the SNP hopes to seize the political initiative with the publication of the prospectus, which it says will shift the dynamic and the momentum of the debate in its favour.

Naming a precise date is part of a plan to try to make the idea of a breakaway more tangible in voters' minds.

"We have previously said that we would aim for Scotland to be independent in March 2016 and in the white paper we go further than that and name the date of the 24th of March," Nicola Sturgeon, Scotland's Deputy First Minister, told BBC TV.

The blueprint for independence would set out the economic, social and democratic case for independence, she said.

"It demonstrates Scotland's financial strengths and details how we will become independent - the negotiations, preparations and agreements."

Alistair Carmichael, Britain's Secretary of State for Scotland and a prominent campaigner against independence, criticised the decision to unveil an independence date, saying the SNP was highlighting something less important than serious policy issues.

"We're not hearing any of these questions answered today," he said. "The one question they're answering is one which actually tactically is maybe not very clever for them to do in negotiation and that is to tell us the end game in it all."

Polls show most Scots oppose independence, but that a large number of voters remain undecided, meaning that next year's independence referendum on September 18 remains wide open.

A poll for Britain's Sunday Times newspaper showed on Sunday that 38 percent of Scots backed independence, with 47 percent opposing it and 15 percent undecided.

The SNP says an independent Scotland would be more prosperous and be able to formulate fairer, more tailor-made policies for its 5 million people, while shaking off what it regards as centuries of patronising influence from London.

But Britain's three main UK-wide political parties argue that Scotland would be worse off economically, and would be unable to defend itself or project power on the global stage as well as it can as part of the UK.

March 24 was the date of the signing of the Acts of Union between Scotland and England in 1707, a day nationalists regard as one of infamy.

But the Scottish government suggested in a news release that was purely coincidental, saying it just "happens to be the anniversary".

(Editing by Andrew Roche)

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Hoping, as usual, that next year will be better

By Alan Wheatley

LONDON (Reuters) - Like winemakers consoling themselves after a poor vintage, economists are putting a disappointing 12 months behind them and hoping that 2014 will be a better year for global growth.

A lively debate over whether developed economies face a 'permanent slump' has sprung up since former U.S. Treasury Secretary Larry Summers argued recently that deeply negative inflation-adjusted interest rates may be needed in a world facing 'secular stagnation'.

But someone forgot to pass on the gloomy prognosis to the research departments of big banks, which are busy bombarding clients with their investment outlooks for the year ahead.

With fiscal drag fading, monetary policy ultra-loose and credit conditions gradually easing, many of them reckon rich countries will outpace emerging economies in 2014.

Credit Suisse expects global growth to improve to 3.7 percent from 2.9 percent this year, which is down on the 2012 rate of 3.1 percent.

"We think that pick-up will be more concentrated in developed market economies, especially Europe and also somewhat in the U.S.," said Neil Soss, the Swiss bank's chief economist in New York.

He expects rich countries to almost double their growth rate to 2.1 percent. Emerging market growth should quicken to 5.3 percent from 4.7 percent, but the growth gap between the two will be the narrowest since 2002, Credit Suisse believes.

FORECASTING AS A PACK

Deutsche Bank is also penciling in a pick-up in global growth to 3.7 percent in 2014 and is particularly optimistic that planned reforms in China will have a profound and long-lasting impact on the country's economic performance.

And Goldman Sachs is projecting an acceleration in global output to 3.6 percent, powered by a doubling in developed market growth to 2.2 percent. It sees the United States leading the way with above-trend expansion of 2.9 percent.

Nick Kounis with Dutch bank ABN Amro expects Britain to join the United States in outperforming the euro zone and Japan in 2014.

"We are very positive on the health of U.S. private sector balance sheets, while both U.S. and UK demand is being supported by improving credit conditions and strengthening labour and housing markets," Kounis said.

His bank is yet another that expects global growth of 3.7 percent next year, ticking up to 3.8 percent in 2015.

MORE EURO ZONE GLOOM

Figures from the euro zone this week are likely to show why most economists expect the single currency area, its debt crisis far from over, to underperform yet again in 2014.

Bank lending to the private sector probably shrank further in October, with unemployment stuck at a record high of 12.2 percent, according to economists polled by Reuters.

And while inflation this month is likely to have ticked up to 0.8 percent from 0.7 percent, it remains well short of the European Central Bank's target of just below 2 percent.

The threat of outright deflation prompted the ECB to halve its main policy rate to 0.25 percent on November 7, and some of the bank's policy makers have said it stands ready to provide further stimulus if necessary.

"I don't think they will ease again, but it's pretty clear where the risk is. If we get another downside surprise on either growth or inflation, then they'll move again," said Darren Williams, an economist with fund manager AllianceBernstein in London.

Williams said he expected a stronger year for the euro zone economy in 2014, after a contraction in 2013, but still not a strong one. Governments are squeezing their budgets less fiercely, while the ECB's easy monetary policy should gradually filter through to the real economy.

"Unless there's another shock, we're clearly past the worst," he said.

In the United States a raft of housing reports will be the highlight of a week shortened by the Thanksgiving Day holiday.

Housing starts are 19 percent higher than a year ago and housing under construction is at its highest level in more than four years, according to Wells Fargo economists.

But they said evidence to date for the fourth quarter suggests the economy is losing momentum heading into the year-end and, with price pressures firmly contained, most market participants now expect the Federal Reserve will wait until March to start reducing its bond buying,

"Lower inflation appears to be a rising concern for Fed policymakers and may come to rival the unemployment rate as a guidepost for policy changes," they said in a report.

(Editing by Greg Mahlich)

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NSE Fin Wiz: What are young scholars thinking?

Nov 23, 2013, 05.32 PM IST

Focusing on our theme for the series NSE Fin Wiz visited NITIE to gauge the thoughts and notions of young scholars on investments and financial planning.

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NSE Fin Wiz: What are young scholars thinking?

Focusing on our theme for the series NSE Fin Wiz visited NITIE to gauge the thoughts and notions of young scholars on investments and financial planning.

Like this story, share it with millions of investors on M3

NSE Fin Wiz: What are young scholars thinking?

Focusing on our theme for the series NSE Fin Wiz visited NITIE to gauge the thoughts and notions of young scholars on investments and financial planning.

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Focusing on our theme for the series NSE Fin Wiz visited NITIE to gauge the thoughts and notions of young scholars on investments and financial planning.

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Light rain to continue in south India; night temperatures to fall in North

Scattered rain will be witnessed in Rayalaseema and Telangana in Andhra Pradesh during the next two days. There would be some showers in north interior Karnataka, Tamil Nadu and Kerala in this period. It could rain at some places in Madhya Maharashtra, Marathwada, Odisha and south Chhattisgarh. Cyclone Helen that had brought heavy rain and strong winds in coastal Andhra Pradesh in the past 24 hours has weakened further and now lies as a low pressure area over Andhra Pradesh. This low pressure system will now become insignificant in about 24 hours so rain will remain subdued in South India during the next two days. In North India, night temperatures that had risen in the last two days will again fall during the next two days. Change in wind conditions, from northerly to easterly owing to Cyclone Helen had led to this rise in minimum temperatures but now, as the weather system is weakening, winds will again become northerly to drop night temperatures over North India.By: Skymetweather.com

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