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JSW Steel conducts series of raids against counterfeiters

Press Trust of India  |  Mumbai 

Steel major today said it has conducted a series of raids against counterfeiters in Maharashtra, NCR, and Tamilnadu with support of local enforcement officials.

The officials confiscated and duly sealed more than 780 counterfeit steel sheets during these raids, a company statement said here.

These counterfeit products, made by sub-standard material have lower product life and can put safety of our consumers at risk, it said. The company has now introduced non-erasable quality marking on JSW Colouron+ to stop counterfeiting.

*********************** BSE's INX daily trading turnover crosses Rs 1,000 cr *

BSE's International Exchange, country's first international exchange, crossed Rs 1,000 crore in daily trading turnover on December 4.

This was the highest daily trading volumes recorded by the exchange since inception, accounting for 75 per cent of the total trading volumes in Gift City.

Sensex50 index futures saw robust trading activity, recording a turnover of USD 127 million, while Gold futures saw nearly USD 30 million. The exchange operates 22 hours every day - opening with the Japanese markets and closing with Chicago markets.

********************* Brokers Forum seeks rebate under sec 88E, lower STT *

In a bid to overcome the high transaction cost, Brokers Forum has sought restoration of rebate under section 88E as also reduction in rates of securities transaction tax (STT) to the levels prevailing at the time when they were introduced.

Till 2009, rebate under section 88E was allowed wherein the amount of STT paid was allowed as rebate under the said section wherein "Profits and gains of business or profession", arising from taxable securities transactions shall be entitled to a deduction, from the amount of income-tax on such income arising from such transactions.

"Our concern pertains to the fact that market is getting exported to SGX due to very high transactional cost including exchange transaction charges, Sebi transaction charges, state stamp duty, STT and GST," Brokers Forum spokesperson Kamlesh Shroff said.

******************** NCDEX witnesses record 1.45 lakh MT soyabean deposits *

National Commodity and Derivatives Exchange Ltd. (NCDEX), today said it has witnessed record deposit of soyabean tendered on its platform.

Soyabean value chain has deposited around 2.5 lakh MT goods during FY 2016-17. The exchange has also witnessed healthy deposits in castor seed, guarseed and guargum products over the period of time. ************* Dailyhunt launches live TV *

content aggregator Dailyhunt today said it has launched live TV a free streaming service with over 130 channels through a partnership with internet-based TV streaming service provider YuppTV.

The live TV content will be available in nine languages including Hindi, Tamil, Malayalam, Telugu, Bengali, Punjabi and English. Dailyhunt's partnership with YuppTV will enrich the video content available through its existing partners such as Republic TV, BBC and ABP News, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 05 2017. 17:05 IST