Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
Investors in international funds should have a horizon of more than five years. Not only will this help them overcome equity and currency volatility, it will also help them enjoy better tax treatment, says Sanjay Kumar Singh.
Unseasonal rains and hailstorm are likely to disrupt supplies.
It makes sense to wait for govt schemes such as gold bonds.
They help diversify portfolio and are less risky.
'Gold could return 10% to 12% in the next two-three years.'
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
The government has also built in mechanism to protect investors from price fluctuation.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Bharti Airtel promoter Bharti Telecom will buy a 3.33 per cent Airtel stake from Singtel for 2.25 billion Singapore dollars or about Rs 12,895 crore in 90 days' time, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom (BTL). Singtel in a statement said that after the transaction, Singtel Group is expected to own an effective stake of 29.7 per cent in Bharti Airtel, which is estimated to be worth SGD 22 billion (about Rs 1.26 lakh crore).
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
A mistake here can prove costly.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
'We do realise it is time to have a larger ambition.'
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
John Bogle figured that cheap mutual funds, which just mirrored indices with little tracking error, would be a useful vehicle for wealth creation, recalls Devangshu Datta.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
Invest in stocks of export-oriented and capital-intensive companies, says Devangshu Datta.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Of late, Surajkund has been hyped as an attractive alternative real estate destination on the Delhi-National Capital Region (NCR) map.
India Inc has high hopes from the upcoming Budget.
So far in September, the S&P BSE Small-cap index has gained nearly 3 per cent as compared to a modest 0.2 per cent dip in the S&P BSE Sensex.
It's good for diversifying portfolio and saving for long-term goals
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
Over the last two years, despite an amnesty scheme, only about Rs 2,500 crore of taxes have been recovered.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
A company not only requires ample funds to get it started but also the necessary intellectual and emotional tools to make it a success.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
'There are companies that are losing and there are companies that are rising.' 'And the companies that are losing are positioning it as an economic slowdown.'
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
'The Indian market has all the factors at the moment: Over-valuation, over-confidence, reliance on some source of massive fund flows and massive scams.' 'The trigger for a collapse could also have arrived.' warns Devangshu Datta.
There are two ways: Deliver a rapidly growing economic pie or reform GST and close corporate tax loopholes, suggests T N Ninan.
