Abhishek Securities

Elevator and escalator sales are expected to grow by 7% and 66% respectively this year due to increased demand from affordable housing and infrastructure projects including metros and airports, industry officials and analysts said. Residential segment The residential segment, especially affordable housing, is projected to drive growth in elevators. The residential segment accounts for more than 80% of the demand for elevators in the country. “This year, the sales volume of elevators is expected to grow to 60,000 units, as compared to 56,000 units last year, up 7%,” said Uday Kulkarni, MD, Schindler India. “However, escalator volume is expected to rise sharply to 3,000 units as compared to 1,800 units last year, up 66%, mainly on account of demand from metros and railways.” Lower GST on elevators for affordable housing at 8% will act as a catalyst, he said. “Infrastructure development presents a great opportunity for growth with the government’s focus on development,” said...

LTCG on unlisted equity shares continued to be taxed after providing for indexation. Accordingly, taxpayers are generally familiar with the LTCG regime including the mechanism for indexing the cost of acquisition w.r.t inflation. The new regime for LTCG proposed in the Finance Bill, 2018 has been designed in a similar manner. In fact, the computation of LTCG is now simpler since the cost of acquisition is not required to be indexed. This computation process does not involve any discretion on the part of the taxman. Moreover, all doubts have already been clarified by way of FAQs released by the CBDT as early as on February 4, 2018. More such FAQs can be released in due course, if the need arises. Thus, there is no reason to believe that the proposal will give rise to any kind of governance issues. Sandip Ginodia , Director   A LTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :...

Prem Watsa-owned Fairfax Holdings Ltd will buy 51% stake in Catholic Syrian Bank, the Kerala-based lender said in a statement on Saturday. The deal, which sets the stage for the first ever takeover of a bank by a foreign institution, has been valued at Rs140 a share. That translates into a deal value of around Rs12,000 crore, according to  Mint  calculations. The deal is subject to shareholder and regulatory approvals, the statement said. Fairfax will acquire the stake through a full equity infusion. A price of Rs140 a share is lower than what the bank had initially expected. The decision to renew deal prospects with Fairfax comes a year after the bank abandoned talks with the financial institution following differences over valuation. According to a 31 May 2017  Mint   report , CSB was expecting a valuation of Rs160 per share plus a control premium of 15%. This valuation was decided based on a benchmark set by a secondary market transaction which involved ...