The Foreign Investment Promotion Board (FIPB) had given its nod to Wipro for designing, developing and manufacturing defence-related software and had further referred the matter for the Finance Minister's approval. The case assumes importance as even the FIPB was not clear whether approval from them is required for companies engaged in software activities to enter the defence sector.
Accordingly, the FIPB had directed the Department of Industrial Policy and Promotion (DIPP) and the Ministry of Defence (MoD) to expeditiously conclude their deliberations in this regard. Moreover, the major issue related to the proposal was whether IT companies who want to get into defence-related activities will be subjected to the cap of 26 per cent on foreign direct investment, as is the norm in the sector.
Wipro, which already has foreign institutional investment of 9.8 per cent, had been advised by the MoD to take FIPB permission before applying for a licence. Under the current FDI norms, software companies with 100 per cent foreign equity can set up shop in
The DIPP had communicated in a FIPB meeting on July 30 that deliberations between it and the MoD for finalizing the classifications of defence-related items has not yet concluded. However, the Department of Economic Affairs and MoD have supported the proposal.
crackcrack
| Company Name | CMP |
|---|---|
| TCS | 4077.25 |
| Infosys | 1834.20 |
| HCL Tech. | 1836.10 |
| Wipro | 557.20 |
| Tech Mahindra | 1701.30 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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