ELSS hit, PPF may gain

Investors currently enjoying zero tax on redemptions of ELSS schemes will now have to pay 10 per cent LTCG. By contrast, investments in PPF continue to be tax-free.

Blow to Arbitrage Funds

Arbitrage funds, where assets rose 50 per cent to Rs 60,000 crore in one year, will be hit by LTCG. While investors who opted for the dividend option will have to pay dividend distribution tax of 10 per cent, profits booked after one year will be liable for LTCG of 10 per cent.

CPSEs to Tap InvITs

Assets of central public sector enterprises (CPSE) to be monetised from next year, giving further boost to vehicles such as Infrastructure Investment Trust and Real Estate Investment Trusts.

Sebi Acts to Be Modified

Sebi Act, Securities Contracts (Regulation) Act and Depositories Act will be modified to streamline the adjudication process. The move is aimed at ensuring efficient enforcement of securities laws.

Hospital Shares Gain

Hospital shares jumped on hopes of bigger business after government's decision to provide insurance cover of Rs 5 lakh to 10 crore families. Stocks of Apollo Hospitals jumped 4.75 per cent. Cancer treatment specialist HCG and Narayana Health also advanced.

Commodity Transaction Tax Tweaked

The Commodity Transaction Tax (CTT) rate on conversion of commodity option (gold, guar, etc) to commodity futures (gold, guar) has been revised to 0.0001 per cent from 0.125 per cent effective April 1. This will potentially benefit options trades on listed metals and energy exchange MCX and unlisted farm exchange NCDEX, in which NSE holds 15 per cent.

Import Duty on Diamonds Raised

Domestic traders/consumers of loose polished diamonds could be hit after import duty is raised on cut and polished diamond to 5 per cent from 2.5 per cent earlier.