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Gold prices dip below
Rs 31,000 on global cues
Google's Android software in 3 out of 4 smartphones, RIM’s share slides to 7.7%
Investor guidance
Hindujas 'close' to $1.1 bn deal
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Gold prices dip below
Rs 31,000 on global cues
While gold lost Rs 270 to Rs 30,950 per 10 grams, while silver shed Rs 1,500 to Rs 58,000 per kg. Traders said sentiment weakened on global trend where precious metal's tumbled the most in more than four months to below $1,700 an ounce as US payrolls in October rose more than forecast, easing pressure on the Federal Reserve to expand monetary stimulus. "Demand for jewellery remains flat despite reports of falling gold prices being flashed in the media," says Suresh Choksi, a jeweller in South Mumbai. He added the demand is similar to pre-Diwali sales like every year. However, local traders expect renewed buying over the next ten days. "Dhanteras is peak business day for gold sales as it is considered an auspicious day. As much as 30-35% of our annual sales are done on this day," Choksi said. This year the Dhanteras festival falls on November 11. According to the trade analysts, gold prices are down 5% from the peak-levels touched in September. But the demand for the metal has been indifferent. Along with gold, silver prices have also been declining. The white metal tanked by Rs 1,500 per kg to touch Rs 58,800 per kilogram on Saturday. In New York, gold tumbled by 2.3% to $1,675.20, the biggest drop since June 21. Silver also plunged 4.3% to $30.85 an ounce, the biggest fall since June 21. Back home, gold of 99.9 and 99.5% purity fell by Rs 270 each to Rs 30,950 and Rs 30,750 per 10 grams, respectively. The metal had lost Rs 280 yesterday. Sovereigns declined by Rs 50 to Rs 25,400 per piece of eight grams. Gold jewellers say prices of the yellow metal usually zoom around Diwali and ahead of the wedding season as Indian buyers demand traditional jewellery in large numbers. Many jewellers in Mumbai are putting up boards announcing the sharp fall in gold prices to lure buyers. |
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Google's Android software in 3 out of 4 smartphones, RIM’s share slides to 7.7%
San francisco, November 3 Shipments of Android-based smartphones made by Samsung, HTC and other vendors nearly doubled in the third quarter, reaching 136 million units, according to industry research firm IDC. The strong sales boosted Android's share of the worldwide smartphone market to 75%, from 57.5% in the year-ago period. Apple's share of the market increased to 14.9% during the third quarter, from 13.8% a year earlier. Apple's iPhone uses the company's iOS mobile software. While Android pulled further ahead of Apple's iOS, its gains have come mainly at the expense of rival operating systems Blackberry and Symbian, with shipments of phones running those systems declining significantly. IDC analyst Kevin Restivo cited Android's close "tie-ins" to Google's broad array of online services, which include online search and maps, as an important asset that has helped Android grow. "Google has a thriving, multi-faceted product portfolio. Many of its competitors, with weaker tie-ins to the mobile OS, do not," Restivo said in the IDC report, which was released on Thursday. Google offers its Android operating system free to phone manufacturers, and primarily makes money from online advertising when consumers access its services on the devices. Research in Motion's Blackberry operating system had 7.7% share in the third quarter, compared with 9.5% a year earlier. Symbian, which had 14.6% share a year ago, had a 4.1% share in Q3. Smartphone maker Nokia still offers the Symbian software in some of its phones, but the company has largely shifted to Microsoft Corp's software. Mobile versions of Microsoft's software accounted for 3.6% of the smartphone market in the third quarter. But IDC said that the recent launch of the new Microsoft Phone 8 operating system could improve its position in the fast-growing market. — Reuters
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Sec 80D tax deduction for mediclaim premium paid
A. N. Shanbhag What are the tax benefits associated with Systematic Investment Plans (SIPs)? Can I invest in these to save on taxes? — Ragini
Recently I read that by buying a mediclaim policy one can get tax deduction of Rs 15,000. My company gives me Rs 15,000 per annum under medical benefit. If I produce medical bills no tax will be levied, else the amount is paid after tax deduction. If I take a mediclaim now for a premium of Rs 15,000, will I be eligible for the above benefit as well? Or can I avail of tax rebate only if the total amount does not exceed Rs 15,000? — Sanaya The mediclaim deduction under Sec 80D of the IT Act is over and above Rs 15,000 offered to you by your company as a reimbursement of medical expenses. The amount you pay is the premium for medical expenses incurred if one requires hospitalization, etc. The amount of Rs 15,000 payable by the employer is against day-to-day medical expenses of the employee.
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Hindujas 'close' to $1.1 bn deal
New Delhi, November 3 Houghton International, based in Pennsylvania and owned by private equity firm AEA Investors, is among the world's biggest manufacturers of hydraulic fuels, rust preventatives and lubricants for the automotive and steel sectors. The deal is expected to be announced soon as most of the terms have been agreed, a business daily quoted a senior Hinduja official as saying. "We’re awaiting an announcement as some last-minute negotiations are going on," the official said, a business daily said.
— AFP |
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RIL: CAG sticks to demand Subsidy for mini food parks
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Mumbai, November 3
A
Systematic Investment Plan is nothing but a way of investing periodically, say monthly, bi-monthly or six-monthly, in a mutual fund scheme. In other words, it is similar to what recurring deposits is with respect to investing in fixed deposits. Therefore, SIP per se does not offer any tax benefit as it is not a product but a strategy for the investment. Benefits under Section 80C of the Income Tax Act, 1961 are offered by equity-linked savings schemes of mutual funds. However, you can invest in ELSS using the strategy of SIPs.
Re dips to close at 53.81/$