Naukariadda

New Delhi: Six of the 10 most valued domestic firms witnessed a combined erosion of Rs 96,642.51 crore in their market valuation last week, with Reliance Industries Limited taking the biggest hit. Last week, the 30-share BSE benchmark dipped 388.96 points or 0.73 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank, Hindustan Unilever Limited, HDFC and Kotak Mahindra Bank were the laggards, Infosys, ICICI Bank, State Bank of India and Bajaj Finance were the winners. The market valuation of Reliance Industries tumbled Rs 44,249.32 crore to Rs 12,90,330.25 crore. Tata Consultancy Services witnessed an erosion of Rs 16,479.28 crore to Rs 11,71,674.52 crore in its valuation. The valuation of Kotak Mahindra Bank plunged Rs 13,511.93 crore to Rs 3,28,122.93 crore and that of HDFC Bank by Rs 8,653.09 crore to reach Rs 7,88,769.58 crore. HDFC's market capitalisation (mcap) declined by Rs 7,827.92 crore to Rs 4,40,738.35 crore and that of Hindustan Unilever Limited dipp...

For a father, buying a gift for a daughter who has just entered her teens is a dicey proposition. Balancing the conflicting roles of a protective dad versus the uber cool one is like skating on thin ice. The BlackBerry mobile phone sorted out that predicament for me. While the USP of the gadget was its push-email (the corporate world was completely addicted to it), it had become a global sensation with adolescents because of a feature called BBM (BlackBerry Messenger). The BBM was the first messaging service that appeared like a private bubble, offering both confidentiality and unlimited texting for free. So prized was the BlackBerry that former US President Barack Obama in his autobiography A Promised Land talks about his heart-breaking separation from his favourite device for security reasons.Of course, that was eons ago. BlackBerry does not exist anymore (it has an enterprise software model now). Like BlackBerry in the smartphone industry, Congress once overwhelmingly dominated the ...

New Delhi: Equity investors have witnessed a wealth addition of more than Rs 31 lakh crore (Rs 31,18,934.36 crore) in the first four months of the current fiscal, helped by an overall bullish sentiment in the market. The 30-share BSE Sensex has jumped 3,077.69 points or 6.21 per cent during April-July this fiscal. Reflecting an upbeat sentiment in the market, the benchmark had reached its all-time high of 53,290.81 on July 16, 2021. It closed at its lifetime high of 53,158.85 on July 15. Thanks to the optimistic investor sentiment, the market capitalisation of BSE-listed companies have zoomed Rs 31,18,934.36 crore to reach Rs 2,35,49,748.90 crore -- its record high level -- on July 30. "Money flow and liquidity are the key factors behind investors' bullish sentiments," said Rahul Sharma, Co Founder, Equity99. Sharma added that markets have performed extremely well post the sell-off in 2020. The benchmarks have more than doubled from the lows of March 2020. "Once the ...

Amid continued stand-off with China, the Leh administration is augmenting oxygen supply in the forward areas by adding new plants, a move that will boost the fight against Covid-19 in ‘zero-mile’ villages and far-flung settlements along northern and eastern Ladakh.“We have a new oxygen plant operating at Diskit in the Nubra sub-division earlier this month and a tender has been awarded for another plant at Nyoma sub-division to improve oxygen supply in these areas. Both are rated at 100 lpm (litre per minute) capacity,” deputy commissioner Shrikant Balasaheb Suse told TOI.Diskit is 113km north of Leh and 11km from the Army’s Siachen Brigade headquarters. The area has villages on the border with POK on its western flank. Nyoma is 180km east of Leh and forms the supply roadhead to villages in the Chushul and Indus sectors along the eastern part of LAC.Suse recently inspected the healthcare infrastructure in forward villages to take stock of their Covid preparedness. The administration is ...

Cold calculations and frozen franchises American ice-cream manufacturer Ben & Jerry was furiously attacked for politicising the pleasures of eating the frozen desserts, after it refused to sell ice-cream in Israel’s West Bank over the displacement of Palestinians. But this is misplaced, both for the brand, which was built on its progressive image, and for ice-cream itself, which has a long political history.Chilled desserts were once reserved for the rich, who could build houses to store ice. But in the 18th century, Americans pioneered the global sale of cheap ice, and mechanical cooling later made ice-cream even cheaper. But it was hard to do at home, and benefitted from scale, making it an ideal mass market product. 84939754American democracy delighted in ice-cream. George Washington brought ice-cream making equipment, but it was the third US president, Thomas Jefferson, who was the first American to record a recipe for it. Every president since has professed to love ice-cream, ...

In May 2020, after four phases of nationwide lockdowns due to the coronavirus, India started hobbling towards unlocking. Districts were colour-coded according to the positivity rate and restrictions were eased accordingly. Containment zones remained closed, though.Businesses that were shut since March started gulping air as the unlock window started to open. But they struggled to figure out how employees and essential workers can travel without landing in or going through a containment zone. This was important, as a misstep meant possible contamination and quarantine.In the midst of this chaos, Srinivas Chitturi had a eureka moment. His firm, Bengaluru-based MTAP Technologies, provides SaaS to streamline the fleet management operations of service providers to companies and schools. Why not, thought Chitturi, use the company’s services to help essential workers and fleet operators who have to commute now but also avoid containment zones. So MTAP came up with a software that uses geofenc...

Motivation can be hard to muster up between rolling out of bed and turning on your computer. But top bosses have found fun ways to keep their employees enthusiastic.SOUL SPACESachin Saxena, founding member of unicorn healthcare company Innovaccer, even has a name for their downtime — Ministry of Fun. “[We play] Call of Duty (CoD) and Clash Of Clans to Scribble and Among Us. We kid around, rib one another; it’s our soul space,” he says.Suhasini Sampath, co-founder of YogaBar, says, “Who doesn’t love games?” Right from Scribble to Pictionary to quizzes, Sampath says the games engage the team.Shubhra Chadda, co-founder of Chumbak, says her team enjoys playing virtual Pictionary on Fridays. “We crack up when we look at each other’s drawings,” she says. Chadda also introduced a 4.5-day working week, with work ending at noon, along with a no-meeting policy on Wednesdays. “We have catch-up sessions twice a month to chat about everything under the sun [other than work],” she says. 84939655FRI-...

Post Q1 results, one should be very cautious in terms of being positive on the market, says Mahantesh Sabarad, Head-Retail Research, SBICAP Securities. In the series gone by, there was a clear leadership from ICICI Bank and SBI. What could SBI deliver in terms of numbers and is the leadership going to stay with these two names?First of all, I cannot comment on SBI results. We are part of the SBI Group but when it comes to the banks, you have rightly said that there are a few banks which are now taking leadership positions in terms of cleaning up books. The cleaning activity that has been going on for several years, has now translated into good results for ICICI Bank and Axis Bank. The private banks have been doing well relative to the public sector banks in terms of the clean up act. I am not saying that the PSU banks have not done that. They have done a bit of cleaning of their own. But as far as PSU banks are concerned, their capitalisation ratios are poorer compared to the private s...

We are a little underweight on the financials but that is because they haven’t reached a stage where the capex cycle begins and probably is still four to six quarters away. But that could be changing going forward, says Ravi Dharamshi, Founder & CIO, ValueQuest Investment. Why is there no financial name in your top five holdings?Yes, we are a little underweight on the financials but that is because I do not think we have reached a stage where the capex cycle begins. Some of the consumers in India are still facing the brunt of the Covid and the spending is getting redirected towards other things. MSMEs are also suffering because of Covid. So, there is a little bit of tension on that front. Also the capex cycle has not yet begun and probably is still four to six quarters away is why we are underweight. But that could be changing going forward. I would like to just put that caveat in. How can one bet on the entire digital wave and bet on a beneficiary because ultimately the benefits w...

The Olympics host city Tokyo, as well as Thailand and Malaysia, announced record Covid-19 infections on Saturday, mostly driven by the highly transmissible Delta variant of the disease.Cases surged in Sydney as well, where police cordoned off the central business district to prevent a protest against a strict lockdown that will last until the end of August.Police in Sydney closed train stations, banned taxis from dropping passengers off downtown and deployed 1,000 officers to set up checkpoints and to disperse groups.The government of New South Wales reported 210 new infections in Sydney and surrounding areas from the Delta variant outbreak.Tokyo's metropolitan government announced a record number of 4,058 infections in the past 24 hours.21 New Covid Cases Related to OlympicsOlympics organisers reported 21 new Covid-19 cases related to the Games, bringing the total to 241 since July 1.A day earlier Japan extended its state of emergency for Tokyo to the end of August and expanded it...

Parliament disruptions and frequent adjournments since the monsoon session began on July 19 have meant the two Houses functioned for only 18 hours of the scheduled 107, leading to a loss of more than `133 crore of taxpayers’ money.Government sources said the Lok Sabha has been allowed to function for about seven hours out of 53 hours in these nine working days. Rajya Sabha has a slightly better record with 11 hours out of 53. This adds up to 18 hours out of a possible 107 hours and a wastage of 89 hours of working time.If the taxpayers’ money spent on convening Parliament is calculated for this period, it would mean a total loss of more than Rs 133 Crore.In Rajya Sabha productivity was pulled down to 21% in the second week. Four Bills were passed in an hour and a half with only seven members participating in the debates.The Bills passed so far are The Marine Aids to Navigation Bill, 2021; The Juvenile Justice Amendment Bill, 2021; The Factoring Regulation (Amendment) Bill, 2021 and The...

With the second wave of Covid-19 having tapered off, a host of startups are looking to grow headcount. Many are looking to set up new verticals, expand territory and invest in rapid growth seen over the past months.New-age companies such as HomeLane, NoBroker, CashKaro, Meesho, slice, Droom, Clovia and Cashfree are aggressively ramping up technology and product teams, with a majority of hiring to be lateral. In demand will be front- and back-end developers, data analysts and operations managers, while roles in marketing, growth, supply chain and customer service are also up for grabs.NoBroker is looking to hire 500 people in the next six months for its technology, product, data science and customer service teams. “Our revenue doubled in the past year and we grew heavily in terms of numbers of customers and properties,” said Amit Agarwal, cofounder of the Bengaluru-based startup. “With the second wave of Covid ending, we have seen a jump in customer interactions. In the next six months,...

Over 97 per cent students, who appeared for the 2021 Uttar Pradesh board examination, have cleared it, the state government said on Saturday. The overall pass percentage for class 10 was 99.53, while it was 97.88 for class 12, it said in a statement. The pass percentage of boys stood at 97.47 per cent, while that of the girls was 98.40 per cent in class 12, the state government said. In class 10, the pass percentage of the boys was 99.52, while that of the girls was 99.55, it said. Director of Uttar Pradesh Secondary Education Council Vinay Kumar Pandey said that in all 56,06,278 students appeared for the examination. This includes 29,96,031 students in class 10, and 26,10,247 students in class 12. Pandey informed that of the 29,96,031 students who appeared for the class 10 board examination, as many as 29,82,055 cleared it. This includes 16,68,868 boys and 13,13,187 girls, he said. In class 12, out of 26,10,247 students, as many as 25,54,813 students cleared the examination. This incl...

India has made no commitment to submit fresh targets for cutting greenhouse gas emissions, a senior official from the environment ministry said on Saturday while dismissing reports that the country has missed the deadline set by the UN climate change agency to provide an update. A foreign news agency has reported that India and China have missed the deadline of July 30 set by the United Nations (UN) to provide an update on their plans for curbing the release of planet-warming gases. Dismissing the report, Environment Secretary R P Gupta said, "India has no such commitment of making and declaring fresh targets. We have not signed any such agreement." According to the report, UN climate chief Patricia Espinosa welcomed that 110 signatories of the United Nations Framework Convention on Climate Change met the cut-off date, which was extended from the end of 2020 due to the COVID-19 pandemic. But she said it was "far from satisfactory" that only 58 per cent of the signat...

With an improvement in the COVID-19 situation, the Odisha government on Saturday announced reopening of shopping malls, parks and cinema halls among several relaxations in all the districts, barring three cities where coronavirus caseload is relatively high. The administration granted the relaxations for a month starting from 6 am on Sunday, Special Relief Commissioner (SRC) P K Jena said, adding that the existing 10-hour night curfew from 8 pm will be in place in all the districts. "The new guidelines will be enforced for a month till 6 am on September 1," he said. The SRC also said the unlock measures will not be implemented in Bhubaneswar, Cuttack and Puri where the pandemic situation is worrisome. The weekend shutdown will remain in force in the three cities. "There has been a significant improvement in the COVID situation in 27 districts, though Khurda Cuttack and Puri are reporting more than 100 cases every day," he said. Khurda district comprises the state ca...

As a keen follower of women’s beach volleyball, I was watching Brazil take on Canada in the Olympics, when the doorbell rang. ‘Good morning, sir, good time?’ said the young man who looked like a young Anna Hazare. I mumbled something, and let him in while Eduarda ‘Duda’ Santos Lisboa passed a signal behind her bikinied back to her teammate on my TV screen.‘Sir, we’re conducting Hicklin tests in the area. It will take only 15 minutes,’ the Hazaresque said. I told him I had taken my two Covid shots and had also come up negative in my RT-PCR a week back. ‘No, sir, not a Covid test, but a Hicklin test.’He went on to tell me there would be no poking down my nostrils or throat. Not even questions. He would just quietly observe me for 15 minutes while I went about own business. That sounded odd. But fearing that non-compliance would mean health ministry officials breaking down my door, I returned to watching beach volleyball. Exactly 15 minutes later, the chap straightened his back, thanked m...

Jharkhand Chief Minister Hemant Soren on Saturday decided to hand over the probe into hit-and-run case of Dhanbad judge to the Central Bureau of Investigation. An official spokesman said that the chief minister has recommended handing over the probe in the death of District and Sessions court judge Uttam Anand to the premier investigating agency. The 50-year-old judge was allegedly mowed down by a heavy autorickshaw while he was on morning jog on July 28 morning in Dhanbad. The Jharkhand government had set up a Special Investigation Team (SIT) to crack the judge death case. from Economic Times https://ift.tt/3yi3nYa

Mumbai: Shares of fertiliser producers rallied on Friday after some of the Chinese companies in the sector said they would stop exporting to assure supplies in their domestic market. Analysts said this move could benefit Indian companies, which are already on investors’ radar due to cheaper share valuations.While Coromandel International and Fertilisers and Chemicals Travancore (FACT) gained 6% each, Madras Fertilizers, Zuari Agro, Khaitan Chemicals, Nagarjuna Fertilizers, and Deepak Fertilisers rallied nearly 5% each.China’s state planner said in a statement that it had summoned the fertiliser firms for a discussion against hoarding and speculation. The move is the latest by Beijing to tackle soaring prices of major raw materials, according to Reuters.“Fertiliser companies are expected to benefit, as there are talks of China suspending exports, post the floods,” said S Ranganathan, head of research, LKP Securities. “Monsoon in India has been good in select states, and with subsidies b...

NEW DELHI: Every market cycle has its own set of winners and most of the time the variation in returns among the best and worst performers during a cycle is too large, underscoring the importance of picking themes.This phase is no different, said Aditya Birla SL AMC, which expects themes such as manufacturing, digitisation, ESG and real estate may play out well over the next 3-5 years. The mutual fund house also sees midcap and smallcap stocks outperforming their largecap peers going ahead.Aditya Birla SL AMC said the phase of the economic cycle, the focus of government policies, industry disruptions and emerging sectors do lead to a change in trends. The fund house said that emerging sectors are initially ignored due to low revenues and perceived risks. "The unorganised market in such sectors," Aditya Birla AMC said, "is usually large, which can be taped by more efficient players."Meanwhile, the fund house said disruptions do hit sectors every 5-7 years and tend to...

Following are five big themes likely to dominate thinking of investors and traders in the coming week.1/ OUT OF SURPRISES?Is this year's sharp U.S. growth rebound losing momentum? A raft of economic data due in the world's biggest economy will provide clues.U.S. non-farm payrolls on Aug. 6 will offer a snapshot of July hiring. Economists polled by Reuters forecast the economy added 926,000 jobs in July after June's forecast-beating 850,000 in June. Before the payrolls, the ISM manufacturing report and Purchasing Managers' Index (PMI) surveys will be released.The strength of U.S. economic numbers has at least partly driven stock market gains. But forecast-beating data might become the exception rather than the rule.Have a look at Citi's U.S. Economic Surprise Index (.CESIUSD), which measures the degree to which the data is beating or missing economists' forecasts. It stands at 3.2 -- a far cry from July 2020's record high of 271.2/CHINA CRACKDOWNRegulators...

Dr Cyrus Poonawalla, chairman of the city-based vaccine maker Serum Institute of India (SII), will be honoured with the prestigious Lokmanya Tilak National Award for 2021. Deepak Tilak, president of the Lokmanya Tilak Trust, has made the announcement. "Poonawalla will be felicitated for his work during the COVID-19 pandemic, wherein he helped in saving many lives by manufacturing Covishield vaccine. Under his leadership, crores of doses of Covishield vaccine were made available to the world in record time. Poonawalla has been at the forefront of making different vaccines at affordable prices," Tilak said on Friday. The award ceremony will take place on August 13, he said, adding that the award comprises cash prize of Rs one lakh and a memento. The award is annually given on August 1, the death anniversary of Lokmanya Tilak, but due to the coronavirus situation, the date has been changed this year, Tilak added. The award was started in 1983 and so far, several prominent person...

India and China are discussing disengagement of troops from friction points including Gogra Heights and Hot Springs area during the 12th round of Corps Commander-level talks, said Indian Army sources on Saturday.The 12th round of Corps Commander-level talks between India and China began at 10:30 am in Moldo on the Chinese side of the Line of Actual Control.India and China have already disengaged from the banks of Pangong lake after extensive talks and the Gogra Heights and Hot Springs areas are left to be resolved as these friction points were created post-Chinese aggression last year.The two countries have been engaged in a military standoff for almost a year but disengaged from the most contentious Pangong lake area last month after extensive talks at both military and political levels.The credit for the disengagement was given to all stakeholders by Army Chief General Manoj Mukund Naravane who also talked about the country benefitting from the inputs given by the National Security A...

With Piyush Goyal replacing Smriti Irani as the new textile minister, following the recent union cabinet reshuffle, there seems to be a humongous task lying ahead of him. It is reviving the ailing textile and apparel sector. Providing direct employment to 45 million people, and indirect employment to 60 million people, this highly labour-intensive sector is only behind overall agriculture in terms of employment generation.However, in recent years, India has significantly lost its global competitiveness in textile and clothing to countries like Bangladesh and Vietnam. As a result, textile and garment exports in the sector have plummeted. While India’s overall merchandise exports reached an all-time quarterly high of $95 billion in the three months ending June 2021, readymade garments experienced double digit declines, as compared to June 2019 levels. India currently ranks sixth in the top world exporters of textile and apparel and has witnessed a decline in its share in global exports o...

Twenty one new COVID-19 cases related to the Olympics were reported by the organisers on Saturday, none of them athletes, amid surging infections in the host city.Out of the total new cases, 14 were contractors and seven Games-linked officials. Sixteen are residents of Japan and five from overseas.None of them were staying in the Olympic village, the organising committee said.The cumulative COVID-19 cases related to the Games now stand at 241.As of Thursday, 40,558 people from overseas had arrived in Japan to take part in the Games, the organisers said.On Friday, the organisers had announced 27 new COVID-19 cases linked with the Olympics, including three athletes, the highest daily count so far.The three athletes included US pole vaulter Sam Kendricks, a two-time world champion, who on Thursday pulled out of the Games after testing positive for the virus.Friday's figure in Games-related cases came a day after Tokyo reported over 3,000 new infections for the fourth straight day, and...

India has been positioning itself as an attractive investment destination for manufacturing, now for a few decades. The story has been sold aggressively though not as effectively as policymakers would have liked and there is little doubt that we are some distance behind the other big hitters in this space. Meanwhile, there are ambitious targets of achieving $ 1 trillion in annual exports and $ 5 trillion in GDP within the next few years.Amongst the examples held up before India for pursuing growth through trade and investment are some countries of East Asia who have grown rapidly in the past three decades. It is notable that some of these countries are not democracies and a few of them are held by many to be non-market economies. Besides, it would not be out of place to remind ourselves that one often hears of the predictability and decisiveness of the regulatory authorities and officials in these countries. This is then contrasted with the lack of predictability and speed of policy, e...

Syngene International, the innovation-led contract research and manufacturing arm of Biocon, is seeing a shift in clientele with a large number of small and newly founded startups from the West partnering with the company to research new treatments and medicines, said CEO and managing director Jonathan Hunt.“What India offers now in the biopharma sector is not cost arbitrage but intellectual arbitrage, and the trend is reflected across the industry,” Hunt told ET.The Bengaluru-based company last week reported a 33.27% year-on-year increase in its consolidated net profit for the quarter to June to Rs 77.3 crore, led by progress across all business divisions and particularly boosted by the manufacturing of remedesivir drug used to treat Covid-19 patients.“Clients are more interested in integrated services than ever before. But it is not just about the cost. It has got to do with the speed and capabilities of companies like Syngene,” said Hunt. “Services we offer today are world-class, sc...

An Olympic medal in archery remained elusive for India. A day after his world number one wife Deepika Kumari choked in the last-eight stage against eventual gold medallist An San of Korea, Atanu Das exited in the pre-quarterfinals of the Tokyo Olympics on Saturday. Das, who knocked out London Olympics gold medallist Oh Jin Hyek in the last-32, failed to overcome home favourite Takaharu Furukawa, a silver winner in the 2012 edition, and lost 4-6 in an intense five-setter. Returning to action a day after his stunning shoot-off win over the Korean heavyweight, Das had two loose arrows in the 8-ring in the first set that proved costly in the end, and Furukawa prevailed by just one point in the decider to seal a thrilling win. "In the Olympics, every match is different, the situation, mindset, everything is different. I don't want to compare (with the match against Oh). I tried but it's okay I failed," Das said after the loss. "Maybe, I took too much tension, it's...

MUMBAI: While many have scoffed at the valuations being commanded by online food aggregator Zomato given its lack of profit track record, the Indian stock market is riddled with even worse examples that may make the fence-sitters wonder if the ongoing bull market is getting out of hand.In the darkest alleys of Dalal Street, a different kind of bull market is unfolding that defies generally accepted logic or precedence. Here ability to corner market, low free-float and price momentum are drivers, not a story of growth or earnings prospects.Gita Renewable Energy, a BSE-listed entity, is one such story.Shares of the renewable energy company have risen 3,600 per cent in the past year aided by a puny free-float of 1.1 million shares and a 10,600 per cent surge in turnover. The stock has not dropped a paisa in 104 consecutive sessions and is on a streak of hitting its upper circuit limit in 64 straight sessions.Such has been the demand for the stock that it has seen a down day in only three ...

MUMBAI: The Bombay High Court on Friday noted that passing a blanket gag order on the media against reporting anything against Bollywood actor Shilpa Shetty, wife of arrested businessman Raj Kundra, shall have a “chilling effect on the freedom of press” and said there is a judicial limit on what can be construed as good or bad journalism.Justice Gautam Patel, however, directed that three videos uploaded on YouTube channels of three private persons be deleted and not uploaded again as they were “malicious and with not even a slightest attempt to investigate into the truth of the matter”. The court noted that the freedom of press has to be balanced with the right to privacy of an individual. The three videos made comments on Shetty's moral standing and went on to question the quality of her parenting following the arrest of her husband Raj Kundra in a case related to alleged production and streaming of pornographic content on apps.The court was hearing a suit filed by Shetty against ...

Last week, amid the cheerleading of the Zomato IPO, a small minority of commentators pointed out the advanced state of undress the emperor was in. However, the general talk was that there was some kind of euphoria about this IPO. In the Zomato IPO as well as the IPOs of similar outfits that will no doubt follow, this talk of euphoria will no doubt be at a fever pitch. To explain the reason, I’ll narrate an old lawyer joke.A famous professor of law was lecturing on courtroom strategy. “If you have facts on your side, hammer on the facts. If you have the law on your side, hammer on the law.”“But if you do not have the facts or the law,” asked a student, “what do you do?” “In that case,” replied the professor, “hammer on the table.”The cheerleading and euphoria that you will keep hearing in the IPOs of these kinds of companies is the hammering on the table. When there’s no track record or profitability to speak of, when there’s no precise plan on what the collected money will be used for,...

If you invest in stocks and equity funds, you must have earned healthy returns in the past few years. But while the going has been good on the investment front, there is bad news flowing from the tax department. In the past few years, the tax monster has spread its tentacles and started moving into what were considered safe havens till now. In 2018, the tax exemption for long-term capital gains from stocks and equity-oriented funds was removed. Last year, dividends from stocks and mutual funds were made taxable as income.Even fixed income options have not been spared. The interest earned by contributions to the Provident Fund above Rs 2.5 lakh a year will now be taxed at the marginal rate applicable to the individual. And Ulips with premiums of more than Rs 2.5 lakh per annum will now get taxed as mutual funds.The spread of the tax net coincides with a sharp fall in incomes and savings in the past two years. Almost 74% of the respondents to an online survey conducted this month said th...