Slack is where the daily action happens. We take pride in our diverse and always helpful member community which includes value investors, fund managers, and professional traders. Here is a brief summary of some of the interesting things discussed there in the last few days. Find all older ones here.

#stocks: ONGC to pay over $1.2 billion for GSPC stake buy

State-run ONGC will pay over USD 1.2 billion for buying debt-laden GSPC’s entire 80 per cent stake in KG-basin natural gas block, which is struggling to start commercial production despite trial outputs starting nearly two-and-half years back. Economic Times

#stocks: Axis Bank – A License to Launder?

Blaming the money laundering instances on a few employees and suspending officials may deflect public and regulatory criticism but the cancer is widespread. The Wire

#general: Demonetisation erodes over Rs 3.8k crore FMCG sales

Demonetisation has hit the FMCG industry hard. And, its hope for a recovery after a good monsoon seems unlikely at present.  Economic Times

#general: Govt mulls law for harsher punishment in cheque bounce cases

The suggestion came when the finance ministry mandarins met delegations of traders’ associations as part of the pre-budget exercise. The associations had urged the government to consider this as part of its steps to normalize business post demonetisation. Times of India

#general: ‘Cashless? That’s a joke’

Lanura is a village with no bank and erratic electricity. It now lives with the burden of a tag: “J&K’s first cashless village” Indian Express


#general: Daman and Diu: Hailed as ‘first cashless region’, a reality check from the ground

Union Minister of State for Home Hansraj Gangaram Ahir “commended the UT administration for taking the initiative to make Daman and Diu the first cashless region of the country”. Indian Express

#stocks: Camlin Fine To Acquire 51% Stake In Chinese Firm

China-based Ningbo Wanglong Flavors and Fragrances is a medium-sized company engaged in research, development and production of flavours and fragrances (food additives), as well as an agency of import and export of goods and technologies. NDTV Profit

#general: Finance Minister Arun Jaitley Clarifies On Capital Gains Tax After PM Modi’s Speech

The minister clarified that the government does not intend to impose tax on long-term capital gains from share transactions. NDTV Profit

Fund Trivia

#general: Here’s full text of PM Narendra Modi’s speech at NISM campus

Zee Business

#stocks: IT hiring at 10-year low, Infosys takes campus hires as interns

India’s second largest software exporter Infosys Ltd is offering paid internship to campus hires before taking them on rolls, a move that that would impact new jobs across the IT sector when hiring by technology services companies is already at a ten-year low. Business Standard

#general: Sectors that are cursing demonetisation the most

There are three sectors worst hit: In absolute terms, financials, largely driven by non-banks, and automobiles; in percentage terms, real estate. MoneyControl

#general: To Claim LTA, HRA, Other Tax Benefits, New Form Needs To Be Submitted

Tax experts say that now with a standard format in place, it will help in better documentation for both employees and employers. NDTV Profit

#general: India Now Needs Lower Level Of Taxation, Says Arun Jaitley

Extraordinary high taxation rates in the past have led to higher tax aversions, the Finance Minister said. NDTV Profit

#general: Dispute Resolution Scheme Nets Less Than Rs 75 Crore In Three Months

The government has mopped up Rs 74.50 crore till November 30 under the Direct Tax Dispute Resolution Scheme which is aimed at settling pending disputes with the Commissioner of Income Tax (Appeals), according to data accessed by BQ. Bloomberg Quint

#general: 3 facts that Modi should note before commenting on markets

Any route the government takes to increase taxes on the market will be counter-productive. But the incident reflects government’s insensitive attitude. MoneyControl

#general: Budget 2017: Short-term capital gains tax rate may go up

The government is mulling a hike in the short-term capital gains (STCG) tax rate, and also a higher levy on dividends earned by individuals. Rediff

#general: Godrej Nature’s Basket shuts all of its eight stores in national capital region

Godrej Nature’s Basket is shutting all of the eight stores that it operated in the national capital region. Two stores in the region have already stopped operations, the other outlets will follow suit in the coming weeks.  Economic Times

#general: On what horizons will the de-monetisation shock play out?

De-monetisation was a large adverse shock. We now have some sense of how currency notes will come back into the economy. Now the interesting question is: Will the recovery be quick or slow? A slow recovery is likely. Mayin

#Concepts from the past – Bonds Tutorial

Introducing Bond Baba – Beat FD returns with Bonds – Basics

How to Buy Bonds Online – The Basics – Part 1

Cash Flow Based Return of Long Term Bonds Available Online – Part 2

Tax Implications and Nuances of Online Bonds – Part 3

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