Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Banks raising one-year deposits at 9.75% to meet MF, pension fund redemptions.
Significant portion of the funds used to fuel urban demand have become illegal and inoperative.
If the index is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Tentatively, watch for a rise beyond 5,820 to a new 52-week high, or a drop below 5,600.
The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the recent monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said. They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Investors need to carefully assess country-specific risks. 'This is especially true of a market that is less transparent than the US.'
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
'Mankind's experience, sharpness, and execution will make it happen. We are not going for short-term gains.'
Industry experts believe that health insurance companies are unlikely to experience business cannibalisation due to the central government's decision to extend health coverage to people aged 70 and above, regardless of their income level, under the Ayushman Bharat scheme. On Wednesday, the Union Cabinet expanded the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to include all senior citizens aged 70 and older. This move is expected to benefit nearly 45 million families, comprising 60 million senior citizens, by providing Rs 5 lakh in free health insurance coverage per family.
'The political situation in the country will depend on the electoral outcome in Maharashtra.'
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
'Investors with a long-term investment horizon and the risk appetite for fluctuations in property values may find SM Reits a viable option.'
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
Bank fixed deposits offer assured returns but are entirely taxable. Ultra short-term debt funds can't specify returns but are tax efficient.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
Former Test opener Ahmed Shehzad also lashed out at the PCB and team the management, describing the defeat a new low for Pakistan cricket.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
The gains, they say, would not be sustained, and too much volatility in exchange rates does not benefit them.
Nestle, Titan, ICICI Bank, Tata Steel, IndusInd Bank, ITC, JSW Steel and State Bank of India were the other laggards. Among the gainers, Tata Motors jumped nearly 6 per cent. Larsen & Toubro, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance and Power Grid also ended in the positive territory.
Passenger vehicle wholesales in India declined 2.5 per cent year-on-year to 341,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 350,355 units in July 2023, automobile industry body Siam said on Wednesday.
Cook further said that Apple would like to place retail stores in India and is working with the government to seek approval to do that.
A new study examines the the link between asthma and infertility.
The conclave drew valuable insights from former athletes and Olympians, including celebrated ones such as Anju Bobby George, Mary Kom, and Tarundeep Rai, all of whom shared their personal experiences and perspectives on what it takes to excel at the highest levels of sports.
According to market sources, it has been observed that most companies are filing claims under short-term capital gains, irrespective of the volume of transactions.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
If a person has surplus cash for a short span of time like a week or a fortnight, Liquid Funds are good alternatives.
A number of non-banking financial companies (NBFCs) have tapped into the debt capital market ahead of the festival season to meet increasing credit demand as bank funding slows. On Tuesday, Aptus Value Housing Finance secured Rs 300 crore at an interest rate of 8.75 per cent through bonds maturing in five years. ICICI Home Finance Company turned to the market to raise Rs 275 crore at 7.94 per cent, alongside another Rs 300 crore at 7.95 per cent, through bonds maturing in five and three years, respectively.
Centre for Development of Advanced Computing (CDAC) - Kolkata's admission notice for short term course in language and information technology. The last date for sending your applications is December 28, 2007.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
Despite the rally in equities over the last few years, India, according to Christopher Wood, global head of equity strategy at Jefferies, is still in early stages of an equity cult. Any changes to the capital gains tax for equities - both long-term and short-term - in Budget 2024 scheduled to be announced on July 23, he believes, can trigger a bigger correction that what the markets witnessed post the Lok Sabha election outcome on June 4 that saw the Bharatiya Janata Party (BJP) lose majority, though it was able to form the government with the help of coalition partners.
Tata Motors on Wednesday said it remains confident about the long-term prospects of the electric vehicle segment and termed the fall in sales numbers a "short-term" issue. In an interaction with PTI at the launch of the company's first mid-sized electric SUV, Curvv.ev, at a starting price of Rs 17.49 lakh (with 45 kWh battery) Shailesh Chandra, managing director of Tata Motors Passenger Vehicle and Tata Passenger Electric, said that the company is looking to achieve one-lakh electric vehicle sales this financial year. Curvv EV is the second car based on the advanced Pure EV architecture - acti.ev, which marks Tata Motors' entry into the highly competitive mid-size SUV segment and will be competing with the likes of MG ZS EV, Hyundai Creta and Maruti Suzuki Grand Vitara, among others.
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
Despite volume growth in the export segment and strong demand in the domestic market, pricing uptick is eluding Indian agrochemical companies.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
Benchmark equity indices Sensex and Nifty slumped over 1 per cent on Friday, tracking a weak trend in global markets and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93.
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