The government appears serious about its intent to do away with the sore points in the taxation laws.
Though the developments are positive, analysts say the benefits will accrue only in the long run
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
British energy firm Cairn Energy Plc has again struck oil in Rajasthan, its ninth discovery in the state in the last two years.
All-rounder Dinesh Mongia claimed innocence and is mulling legal action against New Zealand cricketer Lou Vincent, who has alleged that the former India cricketer was involved in fixing during the unsanctioned and the now-defunct Indian Cricket League (ICL).
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
The top posts on social media from your favourite Bollywood celebrities.
Chris Cairns has taken three wickets in his final Test to leave England wavering on 225 for five in reply to the Kiwis total of 384 on day two of the third Test.
Mixed global cues and decline in crude oil prices further dent the sentiments.
One of India Inc's top demands is the abolishing of the MAT.
India have won six ODI series on the trot. New Zealand have never won an ODI series in India.
Cairns, who has said he will retire from Test cricket after the England tour, added the New Zealand squad was one of the strongest he had experienced.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
Cairn Energy Plc of the United Kingdom on Tuesday announced third significant discovery in Rajasthan this year, with gross in-place reserves of 400 million barrels.
British oil firm Cairn Energy Plc on Tuesday announced a second significant oil discovery in its Rajasthan block, where it had in January found India's largest field in more than two decades.
British energy firm Cairn Energy Plc will invest $100 to $150 million to start production in the recent oil discovery in the Thar desert in Rajasthan, billed as India's largest on-land oil discovery in two decades.
FM has agreed to dump an ill-conceived plan to slap a retrospective 20% levy on overseas asset managers
British energy firm Cairn Energy Plc plans extensive exploration over the next 18 months its Rajasthan block, the site of India's largest oil discovery in almost two decades.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Promoters of 517 companies have pledged nearly 46.35 per cent of their shares, the highest since the 2008 global financial crisis.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
Cairns will play a four-day game in NZ to prove his fitness for the home Test series against Pakistan.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
New Zealand coach Ashley Ross said the final eleven for the match against India will be named on Thursday from its 12 remaining players.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
The 33-year-old Cairns is nursing a hamstring injury he suffered while bowling in the opening game against India.
The broader markets are, however, outperforming the larger peer.
Britain's Cairn Energy Plc has struck oil and gas in Rajasthan, the fourth discovery by the British firm, in the block which borders Gujarat.
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
The recovery was led by information technology exporters.
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