Participatory-Note investments reach 8-month high of $32 billion
Press Trust of India: Mumbai, Dec 17 2012, 15:10 IST
uptrend this year till mid-March, but started declining sharply after the government in its Union Budget proposed new taxation regime of General Anti-Avoidance Rule (GAAR) and certain retrospective amendments for taxing offshore transactions.
The PNs have been accounting for mostly 15-20 per cent of total FII holdings in India since 2009, while it used to be much higher, in the range of 25-40 per cent in 2008. However, it was as high as over 50 per cent at the peak of Indian stock market bull run during a few months in 2007.
Previous Story Bank reporting cocktail leaves investors groggy Next Story Government measures to boost cement demand, UltraTech Cement, Shree Cement high fliers: Deutsche
Reader's Comments| Post a Comment
Be the first to comment.
