India Inc pays higher advance tax for Q2FY09, Dow Slides below 11k

India Inc pays higher advance tax

India Inc has payed higher advance tax for the second quarter ending September 30, 2008, according to data available with UTVi.
State Bank of India (SBI) has paid advance tax of Rs 1,560 crore when compared with Rs 1,054 crore paid for the quarter ended September 30, 2007.
Reliance has paid Rs 680-690 crore as against Rs 650 crore paid in September 2007. While ICICI Bank has paid Rs 575 crore vs Rs 450 crore in the year-ago period, HDFC has paid Rs 290 crore. Videcon has paid Rs 25 crore vs Rs 20 crore in September 2007.

Advance Tax Nos. (Rs in cr)
Sept 2008 Sept 2007
RIL 683 650
ICICI Bank 575 450
SBI 1560 1050
HDFC 290 180 - 200
Ambuja Cements 175 200
IDBI 20 3
Videocon 25 20
IPCA 3.74 3.29
Wockhardt 2.5 10
Reliance Capital 12 Not Available
Deepak Fertilisers 20 Not Available
SIDBI 90 Not Available
ECGC 90 Not Available
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Dow slides +4%, ends below 11,000

NEW YORK: Stocks took a late day turn for the worse on Monday, with the Dow's loss ballooning to nearly 500 points, amid increased fear about a collapse of AIG and the stability of the US financial system.In the final minutes of trading, the Dow Jones Industrial Average fell below the key 11000 mark and the S&P 500 dropped below 1200.The Dow ended down 504.48 points, or 4.42%, at 10,917.51. The Standard & Poor's 500 Index ended down 58.17 points, or 4.65%, at 1,193.53. The Nasdaq Composite Index was down 81.36 points, or 3.60%, at 2,179.91.Following Lehman Brothers bankruptcy filing, attention turned to American International Group, once the world's largest insurer, whose stock fell more than 53% on concern that it may need to raise capital to cover mortgage-related losses.That pushed shares of financial services companies down sharply, deepening the decline in the three major indices.Updated at 2010 hrs (IST): Stocks slid on Monday as the bankruptcy filing by investment bank Lehman Brothers Holdings Inc and cascading fears about the stability of other major financial institutions spooked global markets.Shares of financial services companies, including insurer American International Group, led the slide amid mounting fears about the impact of the year-long credit crisis on the economy and the profit outlook.AIG, an insurer, and savings and loan company Washington Mutual are among other major companies investors fear are threatened by the credit maelstrom and may have to step up efforts to raise capital to shore up their balance sheets.
The concerns about the stability of other firms followed the US government's decision not to provide guarantees for any deal to help Lehman avert bankruptcy."Investors are uncertain about what it means for the US Treasury and the Federal Reserve to have drawn the line in the sand now and reintroduced the concept of moral hazard," said Phil Orlando, chief equity market strategist, at Federated Investors in New York. "Those who have said we're at the bottom a thousand points ago are probably smoking dope."AIG shares tumbled 42% to $7 on the New York Stock Exchange, while those of Lehman plummeted 94% to 22 cents in composite trading. Washington Mutual dropped 13.9% to $2.35.Dow Jones industrial average fell 299.22 points (2.62%) to 11,122.77. The Nasdaq Composite Index fell 40.18 points (1.78%) to 2,221.09.Merrill shares climbed 27.6% to $21.75, but Bank of America shares dropped 13.9% to $29.05.

Dow Jones slides by over 500 points; worst since 9/11
Asian stock markets plunge after Wall Street falls
Lehman fall may deepen Indian realtors' credit woes
Lehman fallout threatens deeper, wider recession
Credit crisis to hit India Inc's fund raising
Lehman CEO's overconfidence may have led to bankruptcy
Credit crunch: IIT, IIM placements face big hit


AIG struggles to survive financial tsunami
Major financial crises Expert Speak on Financial crisis
Fed may cut key rates BoA-Merrill may flex its muscles
TCS, Wipro recast hiring plans
Oil falls to 7th-month low at $93
'It’s panic sale, expect bounceback'
Wall St seen losing 30,000 jobs

Lehman, Merrill staffs' future dark
Moody’s, Fitch slash Lehman ratings
Global events to haunt D-Street
Merrill prunes its stake in blue chips
Wall St model shattered by crisis
What next for Indian stock market?
Japan PM, ministers to discuss Lehman fallout

Spirce:UTVi, BL, ET