Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association. Rallying for the sixth straight session, gold of 99.5 per cent purity appreciated by Rs 630 to hit a lifetime high of Rs 82,330 per 10 grams.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
'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.'
Among the Sensex firms, Larsen & Toubro, Axis Bank, Tata Steel, Bajaj Finance, Power Grid, Asian Paints, Mahindra & Mahindra and Bajaj Finserv were the biggest gainers. State Bank of India, Hindustan Unilever, Tata Motors and Titan were the laggards.
'Subject to any worldwide economic collapse.'
Benchmark indices Sensex and Nifty settled with gains for the third straight session on Monday, helped by buying in auto, banking and capital goods shares despite a spike in crude oil prices. The 30-share BSE Sensex rose 114.92 points or 0.19 per cent to close at 59,106.44 points with 22 of its components ending in the green and eight closing lower. It moved in a range of 58,793.08 points to 59,204.82 points during intra-day trade.
Stock Market News today, PSU banks: The year 2024 was a roller-coaster ride for Indian stock markets, marked by volatility driven by the Lok Sabha elections, Union Budget 2024, a slowdown in corporate earnings, and sticky inflation. Geopolitical tensions - particularly between Israel and Iran in West Asia - along with various stimulus announcements by China and yen carry trade rocked the equity markets throughout the year.
Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
While most analysts are expecting poor results from oil marketing companies (OMCs) in the first quarter of 2024-25 (Q1FY25) and even in the first half (H1) of FY25, GAIL (India) could be an outlier. Upstream producers, Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) could do well due to strong crude and gas prices, but refiners are likely to see weak margins and the impact of frozen prices during the election period will also be negative.
Facing criticism from the government over the central bank prioritising inflation over growth, the new RBI Governor Sanjay Malhotra on Monday said that prospects of the Indian economy are expected to improve on the back of high consumer and business confidence in 2025. "As we strive to preserve financial stability to support a higher growth path for the Indian economy, our focus remains steadfast on maintaining stability of financial institutions and, more broadly, systemic stability," Malhotra said in foreword to the Financial Stability Report.
Ramalingam Kalirajan explains the pros and cons of both investment types.
After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market. Earnings growth slowed despite companies in most non-financial sectors reporting higher operating margins from lower commodity prices and a decline in interest costs.
Naval assets take years to build, and therefore, not only is futuristic force planning essential, but indigenous projects must also be put into the pipeline, technologies developed and contracts for assets signed regularly so that the Indian Navy always remains a future-focussed force, asserts Vice Admiral Biswajit Dasgupta (retd).
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Centre on Monday started selling tomatoes at a subsidised rate of Rs 65 per kg in the national capital to provide relief to the common man and check abnormal profits by intermediaries. Tomatoes are being sold at an average rate of Rs 90 per kg in the national capital.
'Shivaji and Sambhaji followed the gospel of humanity. 'They did not discriminate based on religion, caste, or colour.' 'That is the beauty of Shivaji and Sambhaji's Hindvi Swaraj.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Invest in these funds through the SIP route with at least a seven-year horizon.
The Centre is considering a gradual phasing out of certain direct tax exemptions meant for corporate and personal tax payers. This is among the tax proposals being discussed for the upcoming Union Budget 2022-23. A top policymaker said that according to the government's internal assessment, the percentage of corporates and individuals shifting to the new exemption-less tax regime has been very encouraging, and the Budget-makers expect many more to make the switch in the coming years. The person also said the finance ministry is exploring the option of rationalising the capital gains tax rates.
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
ITC highlighted that legal cigarettes account for 9 per cent of tobacco consumption in India, but 80 per cent of tax collection is from tobacco products. While illicit cigarettes account for roughly one-third of the market share, legal cigarette volumes have recovered to around 96 per cent of peak FY13 volumes, after dipping to 70 per cent in FY21.
West Bengal Chief Minister Mamata Banerjee has asserted that the Trinamool Congress (TMC) will return to power with a two-thirds majority in the 2026 Assembly elections in the state and ruled out the possibility of stitching any alliance with the Congress. Banerjee's statement comes amidst speculation over a possible Congress-TMC understanding in West Bengal, following the removal of Adhir Ranjan Chowdhury as state Congress president and the appointment of Subhankar Sarkar. However, Banerjee has categorically stated that the TMC will fight alone and secure a historic victory. The Congress, on the other hand, has responded by saying that regional parties are bothered about the Congress because they have realised their mistake in ignoring the party during the Delhi polls. The BJP has downplayed Banerjee's remarks, stating that the TMC's defeat in the upcoming elections is inevitable. The West Bengal Assembly elections are likely to be held in April-May next year.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
Several exit polls have given the BJP an edge over the AAP, which has been ruling in Delhi since 2015.
But as voters gear up for crucial assembly and parliamentary polls on May 13, all eyes are on the high-stakes battle in Pulivendula, an assembly constituency that has been a Reddy family stronghold for over four decades.
India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Organisers keen on cricket in 2026 Asian Games despite venue headache
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Finance ministry lines up major plans to be implemented within three months.
When star mutual fund managers quit their jobs to start their own ventures, they have often begun their new innings by becoming portfolio management service (PMS) providers. Over the years there has been an influx of fund managers - they could earn big if they succeeded on their own - and alongside there are wealthy clients looking for an edge beyond that offered by traditional mutual funds.
The disqualification of wrestler Vinesh Phogat in the Olympics after being found overweight before the final bout also saw the government and Opposition come to blows in Parliament.
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