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The stock had hit a 52-week high of Rs 854.50 on 5 August 2016 and a 52-week low of Rs 572.40 on 9 November 2016. It had underperformed the market over the past one month till 25 May 2017, sliding 7.89% compared with the Sensex's 2.69% rise. The scrip had also underperformed the market over the past one quarter, declining 12.38% as against the Sensex's 6.43% rise.
The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Rs 1.
Shares of Sun Pharmaceutical Industries (Sun Pharma) have declined 12.48% in six trading sessions to its ruling market price, from its closing of Rs 653.90 on 18 May 2017, ahead of the company's Q4 March 2017 earnings scheduled today, 26 May 2017.
Also, weak quarterly earnings from the company's US subsidiary Taro Pharmaceutical Industries (Taro) announced on 22 May 2017, dampened investors' sentiment in Sun Pharma.
Taro's net profit fell 27.82% to $83 million on 25.9% decrease in net sales to $196.40 million in Q4 March 2017 over Q4 March 2016. The drop in net sales is due to continuing increased competition and the challenging pricing environment.
On a consolidated basis, Sun Pharmaceuticals Industries' net profit declined 11.2% to Rs 1721.85 crore on 8.4% rise in net sales to Rs 7683.24 crore in Q3 December 2016 over Q3 December 2015.
Sun Pharma is a specialty generic pharmaceutical company and India's top pharmaceutical company.

On the BSE, 2.1 lakh shares were traded on the counter so far as against the average daily volumes of 4.17 lakh shares in the past one quarter. The stock had hit a high of Rs 25.65 and a low of Rs 25.35 so far during the day.
The stock had hit a 52-week high of Rs 32.25 on 5 May 2017 and a 52-week low of Rs 21.10 on 9 November 2016. The stock had underperformed the market over the past one month till 24 May 2017, declining 11.42% compared with 2.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 7.18% as against Sensex's 4.88% rise.
The mid-cap public sector bank has equity capital of Rs 2454.73 crore. Face value per share is Rs 10.
Indian Overseas Bank reported net loss of Rs 646.66 crore in Q4 March 2017, compared with net loss of Rs 936.19 crore in Q4 March 2016. The bank's total income declined 8.1% to Rs 5661.70 crore in Q4 March 2017 over Q4 March 2016.
Government of India holds 79.56% stake in Indian Overseas Bank as per the shareholding pattern as on 31 March 2017.

The stock had hit a record high of Rs 450.65 on 16 May 2017. The stock had hit a 52-week low of Rs 196.33 on 24 May 2016. The stock had underperformed the market over the past one month till 24 May 2017, rising 2.09% compared with 2.18% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 11.83% as against Sensex's 4.88% rise.
The large-cap company has equity capital of Rs 4855.90 crore. Face value per share is Rs 10.
Indian Oil Corporation said that average gross refining margin rose to $7.77 per barrel in Q4 March 2017 from $5.06 per barrel in Q4 March 2016.
The net under realisation suffered by the company in Q4 March 2017 was nil.
The board of directors of Indian Oil Corporation recommended a final dividend of Re 1 per share for the year ended 31 March 2017 (FY 2017).
IOCL is India's flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals.
The Government of India held 57.34% stake in IOCL (as per the shareholding pattern as on 31 March 2017).

The stock had hit a 52-week high of Rs 361.60 on 11 May 2017. The stock had hit a 52-week low of Rs 177 on 24 May 2016. The stock had underperformed the market over the past one month till 23 May 2017, rising 1.87% compared with Sensex's 3.41% gains. The scrip had, however, outperformed the market in past one quarter, advancing 11.63% as against Sensex's 5.1% rise.
The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.
Adani Ports and Special Economic Zone's consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 32% to Rs 1638 crore in Q4 March 2017 over Q4 March 2016.
The company's board of directors recommended dividend of Rs 1.30 per share for the year ended 31 March 2017 (FY 2017).
Meanwhile, Adani Ports has clarified with regards to news report suggesting Comptroller and Auditor General (CAG) ruling of Vizhinjam Port agreement is not in favour of state, that the company has not received any report from CAG neither any letter from the state government on the same.
Adani Ports and Special Economic Zone is a port developer and the logistics arm of Adani Group.

Meanwhile, the S&P BSE Sensex was up 63.83 points or 0.21% at 30,429.08. The S&P BSE Small-Cap index was down 38.02 points or 0.26% at 14,731.84.
On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 1.02 lakh shares in the past one quarter. The stock had hit a high of Rs 309.40 and a low of Rs 285.60 so far during the day.
The stock had hit a 52-week high of Rs 374 on 1 November 2016 and a 52-week low of Rs 251.25 on 27 July 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 2.55% compared with the Sensex's 3.41% rise. The scrip had also underperformed the market over the past one quarter, advancing 0.18% as against the Sensex's 5.1% rise.
The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.
The company's earnings before interest, taxation, depreciation and amortization (EBITDA) declined 7.57% to Rs 8.18 crore in Q4 March 2017 over Q4 March 2016.
EBITDA margin shrank to 44% in Q4 March 2017, from 49% in Q4 March 2016.
As on 31 March 2017, the company has confirmed orders worth Rs 58 crore and repeat orders of Rs 31 crore both executable in the coming period.
Cupid said it remains confident of its growth over the foreseeable period as it continues to take key strategic initiatives for the scale up. This apart, the company would continue its efforts in evaluating new growth opportunities both through organic and inorganic route.
Cupid's board at its meeting held yesterday, 23 May 2017, recommended final dividend of Rs 2 per share for the year ended March 2017.
Cupid is a leading manufacturer of quality male and female condoms.

On the BSE, 57,966 shares were traded in the counter so far, compared with average daily volumes of 1.18 lakh shares in the past one quarter. The stock had hit a high of Rs 318.60 and a low of Rs 307 so far during the day. The stock had hit a record high of Rs 399 on 11 May 2017. The stock had hit a record low of Rs 116.10 on 5 December 2016.
The stock had underperformed the market over the past one month till 23 May 2017, rising 0.13% compared with Sensex's 3.41% gains. The scrip had, however, outperformed the market in past one quarter, advancing 29.96% as against Sensex's 5.1% rise.
The large-cap company has equity capital of Rs 94.36 crore. Face value per share is Rs 2.
Future Retail operates hypermarket and home solutions retail formats. It is the flagship company of Future Group, and India's retail pioneer catering to the entire Indian consumption space.

Modi Naturals Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2017, inter alia, to consider and approve : 1. Audited Financial Results of the Company for the quarter and year ended March 31, 2017. 2. Invitation and acceptance of Unsecured Fixed Deposits from the Shareholders / Members of the Company pursuant to the approval of Shareholders accorded at the 42nd Annual General Meeting of the Company held on 29.09.2016 and provisions of the Companies Act, 2013 and rules made thereunder. Further, the Trading Window shall remain closed for the period from May 24, 2017 to June 01, 2017 (both days inclusive) for dealing in shares of the Company by all its Directors / KMPs / Designated persons as defined in Code of Conduct for regulating, monitoring and reporting of trading by insiders of the Company.

On the BSE, 426 shares were traded in the counter so far, compared with an average volume of 19,664 shares in the past one quarter. The stock hit a high of Rs 1,424.90 and a low of Rs 1,380 so far during the day. The stock hit a record high of Rs 1,550 on 3 May 2017. The stock hit a 52-week low of Rs 814 on 29 September 2016.
The stock had outperformed the market over the past one month till 19 May 2017, rising 13% compared with the 3.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 24.56% as against Sensex's 7.01% rise.
The mid-cap company has an equity capital of Rs 23.59 crore. Face value per share is Rs 10.
APL Apollo Tubes said that the board of directors of the company recommended a dividend of Rs 12 per share for the financial year ended 31 March 2017.
Sales Volume (excluding trading & scrap) stood at 2.34 lakh tons in Q4 March 2017 compared to 2.62 lakh tons in Q4 March 2016. Impact of demonetization combined with high base in the corresponding quarter last year led to subdued volume performance.
Commenting on the company's performance for Q4 & FY 2017, Sanjay Gupta, Chairman, APL Apollo said that the year ended 31 March 2017 (FY 2017) has been a difficult year for the company with the company facing external market challenges including demonetization and volatile steel prices, which significantly impacted volumes in the second half. However, the company made an exceptional start to the new fiscal by registering strong volumes in the month of April.
The company remains focused on further increasing this momentum in the coming quarters and is confident of delivering over 20% volume growth in FY 2018. The company recently established greenfield facility in an under penetrated market like Raipur will also support aggressive growth plans over the next 2 years, he added.
APL Apollo Tubes is one of the leading branded steel tubes manufacturer.

On the BSE, 62,676 shares were traded in the counter so far as against average daily volume of 69,326 shares in the past one quarter.
The stock had hit a high of Rs 130.65 and a low of Rs 126.50 so far during the day. The stock had hit a 52-week high of Rs 150.55 on 28 October 2016. The stock had hit a 52-week low of Rs 94.25 on 25 May 2016. The stock had underperformed the market over the past one month till 25 May 2017, dropping 7.53% compared with 2.69% rise in the Sensex. The scrip, had, however, outperformed the market in past one quarter, gaining 7.36% as against Sensex's 6.43% rise.
The small-cap cement manufacturing company has equity capital of Rs 226.62 crore. Face value per share is Rs 10.
HeidelbergCement India said that the board of directors recommended a dividend of Rs 2 per share for the financial year ended 31 March 2017 (FY 2017).
HeidelbergCement India is a subsidiary of HeidelbergCement Group, Germany. The company has its operations in Central India at Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh) and in Southern India at Ammasandra (Karnataka).

High volumes were witnessed on the counter. On the BSE, 2,357 shares were traded on the counter so far as against the average daily volumes of 408 shares in the past one quarter. The stock had hit a high of Rs 14,297.35 and a low of Rs 13,274.30 so far during the day.
The stock had hit a record high of Rs 15,200 on 26 July 2016 and a 52-week low of Rs 10,055 on 27 December 2016. The stock had outperformed the market over the past one month till 25 May 2017, advancing 13.5% compared with the Sensex's 2.69% rise. The scrip had also outperformed the market over the past one quarter advancing 17.68% as against the Sensex's 6.43% rise.
The large-cap company has equity capital of Rs 11.27 crore. Face value per share is Rs 10.
3M India provides industrial, automotive, electrical, telecom and safety products.

On the BSE, 22.07 lakh shares were traded on the counter so far as against the average daily volumes of 11.54 lakh shares in the past one quarter. The stock had hit a high of Rs 313.40 so far during the day, which is a record high. The stock hit a low of Rs 300 so far during the day. The stock had hit a 52-week low of Rs 222.05 on 26 December 2016.
The stock had outperformed the market over the past one month till 25 May 2017, advancing 6.58% compared with the Sensex's 2.69% rise. The scrip had also outperformed the market over the past one quarter, gaining 12.8% as against the Sensex's 6.43% rise.
The large-cap company has equity capital of Rs 1214.74. Face value per share is Rs 1.
ITC's board recommended a dividend of Rs 4.75 per share for the year ended March 2017.
ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

On the BSE, 3.14 lakh shares were traded on the counter so far as against the average daily volumes of 78,586 shares in the past one quarter. The stock hit a high of Rs 1,275.75 so far during the day. The stock hit a low of Rs 1,168.10 so far during the day, which is a 52-week low. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016.
During Q4 March 2017, the company made a provision for liability towards its Australian subsidiary amounting to Rs 155.90 crore in respect of compensation for patent litigation towards its Isabelle generic launch in Australia.
Nilesh Gupta, Managing Director, Lupin, said that the company had a stellar year with a strong double-digit growth across all its regions. Steady progress on its complex generic pipeline, its impeccable record of compliance and focus on operational excellence will help sustain its growth momentum in the mid to long-term, he added.
Lupin is a pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

Unitech Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2017, inter alia, to consider and approve the Audited Financial Results of the Company for the quarter and financial year ended on March 31, 2017 and recommend dividend, if any, for the said year.
Further, pursuant to the above, the trading window for dealing in securities of the Company would remain closed for all promoters, directors, officers, employees and connected persons of the Company from May 24, 2017 to June 01, 2017.

On the BSE, 2 lakh shares were traded on the counter so far as against the average daily volumes of 13.88 lakh shares in the past one quarter. The stock was locked at a high of Rs 137.80 so far during the day.
The stock had hit a 52-week high of Rs 152 on 16 May 2016. The stock had hit a 52-week low of Rs 18.05 on 10 June 2016.
The stock had dropped 10.5% in previous four sessions to Rs 131.25 on 19 May 2017 from a close of Rs 146.65 on 15 May 2017 after witnessing a robust rally.
The stock had outperformed the market over the past one month till 19 May 2017, rising 33.25% compared with the 3.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, spurting 272.34% as against Sensex's 7.01% rise.
The mid-cap company has equity capital of Rs 78.65 crore. Face value per share is Rs 2.
Indiabulls Ventures said that Indiabulls Asset Reconstruction Company (ARC), a wholly owned subsidiary of the company has been granted the certificate of registration (CoR) by the Reserve bank of India (RBI) under Section 3 of the SARFAESI Act, 2002.
Indiabulls Ventures (IVL) is the sole sponsor of the ARC and owns 100% equity stake in the company. IVL has already infused Rs 100 crore equity in the ARC and is fully compliant with the requisite criteria laid down by RBI vide its latest guidelines. The company intends to start its operations shortly.
Indiabulls Ventures' consolidated net profit spurted 2181% to Rs 54.06 crore on 113.6% surge in total income to Rs 202 crore in Q4 March 2017 over Q4 March 2016.
Indiabulls Ventures (formerly known as Indiabulls Securities) is one of the leading company in the segment of capital market and real estate marketing and distribution

On the BSE, 16,000 shares were traded on the counter so far as against the average daily volumes of 21,969 shares in the past one quarter. The stock had hit a high of Rs 643.60 and a low of Rs 625 so far during the day.
The stock had hit a 52-week high of Rs 661 on 24 October 2016 and hit a 52-week low of Rs 482 on 18 November 2016. The stock had outperformed the market over the past one month till 19 May 2017, advancing 13.23% compared with the Sensex's 3.85% rise. The scrip had also outperformed the market over the past one quarter advancing 14.77% as against the Sensex's 7.01% rise.
The small-cap company has equity capital of Rs 8.32 crore. Face value per share is Rs 10.
Shaily Engineering Plastics' earnings before interest, tax, depreciation and amortization (EBITDA) increased by 40% to Rs 15.3 crore in Q4 March 2017 over Q4 March 2016.
EBITDA margin increased to 22.4% in Q4 March 2017, from 20.1% in Q4 March 2016. <> Shaily Engineering Plastics is engaged in the business of manufacturing of plastic products

State-owned lender IDBI Bank Ltd on Thursday saw business taking a dip in Q4 as its standalone net loss widened to Rs 3,199.76 crore in the January-March quarter of FY17, as rising bad loans hurt.
The bank had posted a standalone net loss of Rs 1,735.81 crore in the corresponding quarter of previous fiscal, IDBI Bank Ltd said in a filing to the Bombay Stock Exchange on May 18, 2017.
The total income of the bank too fell marginally by 2.7 per cent to Rs 8,048.12 crore in Q4 FY17, from Rs 8,274.58 crore in Q4 FY16.
Asset quality of the bank deteriorated, during the quarter under review, as it’s gross non-performing assets significantly rose to 21.25 per cent of total loans, compared with 10.98 per cent in the year-ago quarter. Net NPA of the bank too grew to 13.21 per cent against 6.78 per cent in corresponding period last year.
During the quarter, provisions (other than tax) and contingencies jumped significantly to Rs 6,209.58 crore from Rs 3205.56 crore in previous quarter and from Rs 4,450.15 crore in corresponding quarter of last fiscal.
Reacting to the numbers, shares of the bank closed at Rs 70 apiece, down 7.77 per cent, from previous close on BSE.

Tata Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “Tata Money Market Fund - Regular Plan” on the face value of Rs 1000 per unit. The record date for the dividend was May 24. The latest NAV of the scheme is Rs 1001.52. The investment objective of the open ended liquid fund scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns & high liquidity to the unitholders. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was May 23. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

Reliance Mutual Fund has launched a new close ended income scheme named “Reliance Fixed Horizon Fund XXXIV- Series 3” with maturity period of 1139 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on May 23 and will close on May 24.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth and Dividend option.
The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index. Amit Tripathi will be the fund manager of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to generate returns and growth of capital will be met by investing in a diversified portfolio of securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. Hence, the scheme will allocate 90 to 100 per cent of asset in Debt Instruments including Government Securities and 0 to 10 per cent of asset in Money Market Instruments.

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was May 21. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

ICICI Prudential Mutual Fund has launched a new close ended capital protection scheme named “ICICI Prudential Capital Protection Oriented Fund - Series XII - Plan B 1289 Days” with maturity period of 1289 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on May 23 and will close on June 06. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Cumulative and Dividend option. The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index (85 per cent) and CNX Nifty (15 per cent). Rahul Goswami, Ihab Dalwai, Vinay Sharma and Chandini Gupta will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to protect capital will be met by investing a portion of the portfolio in highest rated debt securities and money market instruments. Hence, the scheme will allocate 65 to 100 per cent of asset in Debt Instruments and money market instruments and 0 to 35 per cent of asset in Equity and Equity related instruments.

Tata Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “Tata Money Market Fund - Regular Plan” on the face value of Rs 1000 per unit. The record date for the dividend was May 18. The latest NAV of the scheme is Rs 1001.52. The investment objective of the open ended liquid fund scheme is to create a highly liquid portfolio of money market instruments so as to provide reasonable returns & high liquidity to the unitholders. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.

Birla Sun Life Mutual Fund has announced 0.02 per cent dividend under dividend payout option of scheme named as “Birla Sun Life Cash Plus - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was May 17.The latest NAV of the scheme is Rs 163.69. The investment objective of the open ended liquid fund scheme is to provide reasonable returns at a high level of safety and liquidity through judicious investments in high quality debt and money market instruments. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Kaustubh Gupta is the fund manager of the scheme.

ICICI Prudential Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “ICICI Prudential Money Market Fund - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was May 15. The latest NAV of the scheme is Rs 100.11. The investment objective of the open ended liquid fund scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Aditya Pagaria is the fund manager of the scheme.

Cardamom futures plunged nearly 4 per cent during evening trade in the domestic market on Friday as investors and speculators cut down their positions in the agri-commodity on sluggish physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downward trend in the domestic cardamom prices. At the MCX, cardamom futures for June 2017 contract is trading at Rs 950 per kg, down by 3.99 per cent, after opening at Rs 985, against a previous close of Rs 989.50. It touched the intra-day low of Rs 950

Nickel futures were trading lower during evening trade in the domestic market on Friday as investors and speculators exited their positions in the industrial metal on slackned demand in the domestic spot market.
Analysts said cut down of positions by participants, tracking a subdued trend at the domestic spot market on muted physical demand from consuming industries, mainly influenced nickel prices at futures trade.
At the MCX, nickel futures for May 2017 contract is trading at Rs 581 per kg, down by 0.17 per cent, after opening at Rs 584.50, against a previous close of Rs 582. It touched the intra-day low of Rs 578.60

Nickel futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal on slackned demand as Asian equities soared after minutes of the Federal Reserve's last policy meeting suggested the US central bank was cautious about raising interest rates.
Besides, after credit ratings agency Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.
At the MCX, nickel futures for May 2017 contract is trading at Rs 586.90 per kg, down by 0.49 per cent, after opening at Rs 589, against a previous close of Rs 589.80. It touched the intra-day low of Rs 585.60 

The World Gold Council today urged the government to reduce the tax incidence on gold and gold products under the new Goods and Sevices Tax regime.
"In the GST regime, we urge and expect that the total tax burden on gold be halved from the current level of around 12 per cent," WGC managing director Somasundaram PR said here today during launch of a new comprehensive India gold report in Bengali.
The report is published after 15 years and is also available in English, Hindi, Malayam and Tamil for a ready reference to Indian gold industry.
Currently, total taxation comes to between 12 and 13 per cent. Custom duty is 10 per cent, excise is one per cent and VAT of 1-1.5 per cent depending upon states.
"In the GST regime, we demand the total tax burden on gold to be not more than 6-7 per cent. But, we have to wait for a few days more when the GST rates on gold is expected to be announced," Somasundaram said.
He tried to convince that gold import was not as bad as was perceived to be when asked why government should offer low tax on gold which is an idle asset and contribute a lot for current account deficit.
"According to a 2014-15 report of PWC, value addition in gold is to the tune of USD 30 billion with a lot more scope. Gold loan is also to the tune of around USD 10 billion with about 1,250 tonne as collateral allowing persons access to credit be it formal or informal," Somasundaram said.
Hoping GST will bring lot of transperency in the gold industry including check on illgeal imports which is about 120 tonnes a year now. But it will take few months industry to get stabilised, the WGC official said.
Somasundaram said government should promote gold investment through ETF with tax breaks rather than physical gold.
He reteriated that the country needed a gold policy that would help all stakeholders.
Meanwhile, the gold demand during Q1 (January-March, 2017) grew by 15 per cent to 123 tonnes, but it was 18 per cent down compared to the corresponding period in the last five years on average.

Lead futures were trading lower during morning trade in the domestic market on Wednesday as investors and speculators cut down their bets in the industrial metal on subdued physical demand for lead, from battery-makers, in the domestic spot market.
Further, a fall in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade.
At the MCX, lead futures for May 2017 contract is trading at Rs 133.65 per kg, down by 0.93 per cent, after opening at Rs 134, against a previous close of Rs 134.90. It touched the intra-day low of Rs 133.60

Aluminium futures were trading lower during morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.
Further, a fall in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for May 2017 contract is trading at Rs 125.80 per kg, down by 0.51 per cent, after opening at Rs 126, against a previous close of Rs 126.45. It touched the intra-day low of Rs 125.60

Nickel futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on diminishing demand from consuming industries at the domestic spot markets.
Further, trimming of positions by participants, tracking a reversing trend at the spot market on falling demand from alloy-makers, mainly influenced the slide in nickel prices at futures trade.
At the MCX, nickel futures for May 2017 contract is trading at Rs 603.60 per kg, down by 0.31 per cent, after opening at Rs 606.60, against a previous close of Rs 605.50. It touched the intra-day low of Rs 602

Lead futures were little changed during morning trade in the domestic market on Monday as investors and speculators remained on the sidelines in the industrial metal on subdued physical demand for lead, from battery-makers, in the domestic spot market. Further, a fall in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for May 2017 contract is trading at Rs 135.60 per kg, down by 0.07 per cent, after opening at Rs 135.50, against a previous close of Rs 135.70. It touched the intra-day low of Rs 135.15

The Indian benchmarks are set to open flat on Monday tracking muted cues from other global peers. 
The report that foreign investors have pumped in nearly USD 4 billion in the country's capital market so far this month due to finalisation of GST rates for the bulk of the items and stable outlook for the rupee, may boost the investor’s sentiments later in the day. 
The Asian markets have opened flat after the latest ballistic missile test by North Korea and as major markets are closed for public holidays today, while the Wall Street closed mixed in the previous trading session ahead of the long holiday weekend. 
On the corporate front, companies like Bajaj Electricals, BHEL, BPCL, Coal India, City Union Bank, Educomp, Escorts, Jindal Saw, Jaiprakash Associates, L&T, Max India, MMTC, NHPC, NTPC, Oil India, Sadbhav Engineering among others are scheduled to report their results for the quarter ended March 31 later today. 
Muted trends in the SGX Nifty Index Futures for June delivery, which were trading at 9580.50, up by 5.50 points or 0.06 per cent, at 10:34 AM Singapore time, signalled a flat to marginally higher opening for the domestic bourses. 
On Friday, the Indian equities continued gaining streak for the second day, with benchmarks Sensex and Nifty closing at record high in a broad-based rally, as investors gave thumbs-up to Narendra Modi-led NDA government's three years in office. Adding to it, reports of increase in pre-monsoon showers across the India, which gives a glimpse of the arrival of monsoon 2017 sooner-than-later, also gave a lift to market sentiment. 
The 30-share barometer SENSEX closed at a new high of 31028.21, up by 278.18 points or by 0.9 per cent, and then NSE Nifty settled at 9595.1, up by 85.35 points or by 0.9 per cent. 
Top traded Volumes on NSE Nifty – ITC Ltd. 21742467.00, ICICI Bank Ltd. 19396445.00, Vedanta Ltd. 18369278.00, Hindalco Industries Ltd. 17803837.00, Tata Steel Ltd. 16240203.00, On NSE, total number of shares traded was 139.00 Crore and total turnover stood at Rs. 26556.86 Crore. 
On NSE Future and Options, total number of contracts traded in index futures was 202818 with a total turnover of Rs. 16075.36 Crore. Along with this total number of contracts traded in stock futures were 768678 with a total turnover of Rs. 53836.08 Crore. Total numbers of contracts for index options were 3193482 with a total turnover of Rs. 260144.11 Crore. and total numbers of contracts for stock options were 425935 with a total turnover of Rs. 30919.32 Crore. The FIIs on 26/05/2017 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 9181.50 Crore and gross debt purchased stood at Rs. 429.86 Crore, while the gross equity sold stood at Rs. 8392.30 Crore and gross debt sold stood at Rs. 636.57 Crore. Therefore, the net investment of equity and debt reported were Rs. 789.20 Crore and Rs. -206.71 

       COPPER: -850 MT

       ZINC: -1850 MT

       LEAD: -1025 MT

       NICKLE: -1194 MT

       ALUMINIUM: -13575 MT

LME Cancelled Warrants

       COPPER: -[0.05]

       ZINC: -[0.18]

       LEAD: -[]

       NICKLE: -[0.08]