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<ul><li>Britain and the European Union have agreed on the outline for a deal for the United Kingdom's exit from the monetary union.</li><li>The deal will still need the approval of both the UK and European parliaments.</li><li>A bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK.</li></ul>Britain and the European Union have agreed on the outline for a deal for the United Kingdom's exit from the monetary union. While Prime Minister Boris Johnson celebrated on Twitter, and the European Commission President Jean-Claude Juncker said it was a "fair and balanced agreement", the deal will still need the approval of both the UK and European parliaments. Meanwhile, a bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK. Three of those companies were from the Tata Group namely, Tata Consultancy Services (TCS), Tata Communications, and Tata Motors, which owns the UK-based Jaguar Land Rover brands of luxury cars. There are now a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion, according to a Grant Thornton report in April 2019. Only eight of those companies have an annual revenue of over £250 million. <table style="width: 480pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:120pt">Company</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 120pt;">Revenue from UK</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 120pt; border-right-width: initial; border-right-color: transparent;"> Employees in UK </td> <td class="xl67" style="border-left-width: initial; border-left-style: none; width: 120pt;">Share price gains on Oct 17</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Mastek</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">71%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2200</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+7.62%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">HCL Tech</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">17%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2538</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.06%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Motors</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">42,660</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+13.27%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Steel</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">21,100</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+3.6%</td> </tr> <tr> <td class="xl68" style="height: 26.25pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Consultancy Services (TCS)</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">13%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">2686</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.85%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tata Chemicals</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">3%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">1048</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+2.08%</td> </tr> <tr> <td class="xl68" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 120pt;">Tech Mahindra</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">11%</td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 120pt;">1,190</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.4%</td> </tr></tbody></table>

Boris Johnson's Brexit deal sets Tata Group and other stocks alight in India

<ul><li>Boris Johnson has won a historic majority for the conservatives in the United Kingdom, not seen since Margaret Thatcher.</li><li>With 326 of 650 Parliament seats, Prime Minister Johnson has enough strength to 'Get Brexit Done'. </li><li>The UK will be out of the European Union by January end and while that will still hurt the economy, it ends a lot of uncertainty.</li><li>There are a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion.</li></ul>Boris Johnson has a historic majority for the conservatives in the United Kingdom, not seen since Margaret Thatcher. With a whopping 326 seats for the winning side, according to the BBC, Prime Minister Johnson has more than enough strength in the 650-member Parliament to 'Get Brexit Done' i.e. the UK will be out of the European Union by January end, which was his election promise. Soon after, a bunch of Indian stocks rallied on Thursday celebrating a possible deal that will end the uncertainty as they derive a big chunk of their business from the UK. Three of those companies were from the Tata Group namely, Tata Consultancy Services (TCS), Tata Communications, and Tata Motors, which owns the UK-based Jaguar Land Rover brands of luxury cars. There are now a record 842 Indian companies operating in the UK, with combined revenues of over £48 billion, according to a Grant Thornton report in April 2019. Only eight of those companies have an annual revenue of over £250 million. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 480pt; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup></colgroup><tbody><tr><td class="xl65" style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Company</td><td class="xl65" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Revenue from UK</td><td class="xl66" style="border-top: 1px solid rgb(221, 221, 221); border-right: solid transparent; border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Employees in UK </td><td class="xl67" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">Share price gains on Dec 13</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Mastek</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">71%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2200</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+6.57%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">HCL Tech</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">17%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2538</td><td class="xl72" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+0.17%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Motors</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">42,660</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+3.63%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Steel</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">21,100</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+3.51%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 26.25pt; width: 120pt;">Tata Consultancy Services (TCS)</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">13%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">2686</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+0.5%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tata Chemicals</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">3%</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">1048</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">+1.17%</td></tr><tr><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 120pt;">Tech Mahindra</td><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">11%</td><td class="xl73" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 120pt;">1,190</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">-0.46%</td></tr></tbody></table> This would mark the end of an uncertainty, that has lingered on since the people of Britain voted to leave the EU for the first time June 2016. While leaving the monetary union will still be a setback for the British economy⁠— a recent estimate estimated a 1.1% to 2.6% contraction in GDP⁠— businesses are heaving a sigh of relief that at least the problems will be more predictable now. SEE ALSO: <a href="https://www.businessinsider.in/politics/news/the-campaign-to-stop-brexit-is-over-and-britain-is-heading-for-another-decade-of-conservative-dominance/articleshow/72499424.cms" data-type="tilCustomLink" target="_blank">The campaign to stop Brexit is over and Britain is heading for another decade of Conservative dominance</a>

Boris Johnson is not the only one celebrating a historic majority  for UK conservatives— a bunch of Indian stocks are thrilled too

<ul><li>Investors are buying the stock of Majesco since the time it declared a dividend of nearly 20,000% on December 15. But, it may not be a great idea, according to analysts. </li><li>Business Insider spoke to a few analysts that track the stock and other smaller IT services companies to understand why now is a bad time to buy the stock.</li><li>According to all of them, those who already owned the stock would benefit from the dividend but if you have bought the shares in the last few days then you have lost money.</li></ul>There are people buying the stock of Majesco, the company that sells software and other services to insurance companies in India, since the time it declared a dividend of nearly 20,000% on December 15. And, it may not be a great idea to buy into Majesco just for the sake of dividend. Business Insider spoke to a few analysts that track the stock and other smaller IT services companies to understand why now is a bad time to buy the stock. According to all of them, those who already owned the stock would benefit from the dividend but if you have bought the shares in the last few days then you have lost money. It is a signal for investors to sell, rather than buy into the company, they said. <div type="image" title="Majesco (1)" msid="79774007" hostid="261"></div> "There is not much left in the company" Majesco made nearly ₹3,200 crore after selling its stake in its US subsidiary, Mastek. The majority of its dividend came from the stake sale and with the company's profit distributed as the dividend to the shareholders. "There is nothing much left in the company," said one analyst on the condition of anonymity citing compliance issues. Other than the software business, the company also has the real estate of <a href="http://content.icicidirect.com/mailimages/IDirect_Majesco_QC_Oct20.pdf">1,20,000 square feet at Mahape, Navi Mumbai</a>, "and that value is nothing for the company," he added. In a television interview after declaring the dividend, the managing director of Majesco, Farid Kazani, said that he is waiting for the price of real estate to improve before he can sell it and that money would also be distributed to shareholders. "So now whatever value is the cash value and real estate value — so it will be brought down to ₹40-50 accordingly how the market perceives, but the cash value is ₹36," another analyst said. Your dividend gains will be taxed at slab rate Those who get the dividend will have to pay income tax and if you sell after that, there will be capital gains tax as well if there is a profit. "If you buy the stock at a current price of ₹980 and get the dividend of ₹970 after the record date — it would simply expose you to dividend tax as per your tax slab and capital gain (if any) will be taxed at 15%," the second analyst explained. The difference in the tax outgo can be quite stark. To make it simple, if an investor buys the stock at the current price and falls under the tax slab of 30%. They will have to pay 30% of the dividend as income tax and will be left with mere ₹679 — whereas the stock is currently priced at ₹964. Two days ahead of the record date the stock would get readjusted automatically and the ₹964 that you initially invested in the company will be corrected to ₹50 (maximum). So an investor will be at a loss of nearly ₹230, if they buy the stock now. Till last year, dividends were tax free, however, <a href="https://cleartax.in/s/how-dividends-taxable">a new provision recently made it taxable</a> under the head “income from other sources.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

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Boris Johnson's Brexit deal sets Tata Group and other stocks alight in India

Sriram Iyer

Boris Johnson is not the only one celebrating a historic majority for UK conservatives— a bunch of Indian stocks are thrilled too

Sriram Iyer

Analysts say don't buy Majesco shares for the dividend

Navdeep Yadav

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