Rupee hits record low amid pressure on local equities
Benchmark Indian equity indices, the BSE Sensex and Nifty 50, were down about 0.3% and 0.2% each on Wednesday.
Benchmark Indian equity indices, the BSE Sensex and Nifty 50, were down about 0.3% and 0.2% each on Wednesday.
Union Budget 2024: The Union Budget has earmarked Rs 1,050 crore for the Vibrant Villages Programme (VVP) for the fiscal year 2024-25. This initiative aims to enhance the quality of life in select border villages across 19 districts in Arunachal Pradesh, Sikkim, Uttarakhand, Himachal Pradesh, and Ladakh. Approved in February 2023, the VVP has a total outlay of Rs 4,800 crore for 2022-23 to 2025-26, focusing on comprehensive development, including infrastructure, livelihood generation, and connectivity. Читать дальше...
Defence Budget 2024 Comparison: India's defence budget for FY 2024-25 has been raised to ₹6.21 lakh crore (US $75 billion), up from ₹5.94 lakh crore last year. This increase aims to bolster military capabilities and infrastructure. China's defence budget stands at $231.36 billion with a 7.2% increase, while Pakistan has allocated ₹2,122 billion, reflecting a 17.6% rise. These budgets highlight each country’s focus on strengthening their defence amid global and regional tensions.
India is the world's third-biggest oil importer and consumer, importing more than 80% of its oil needs. Indian refiners had placed orders in May for most of the June-arrival oil barrels.
Congress President Mallikarjun Kharge criticized the 2024-25 Union Budget for favoring only Bihar and Andhra Pradesh, alleging neglect of other states. Finance Minister Nirmala Sitharaman defended the budget, emphasizing that the absence of state names in her speech does not equate to a lack of support. Following a walkout and protest led by Kharge, the opposition continued to challenge the budget’s allocations, raising concerns about its fairness and bias.
SBI Life reported a Q1 standalone net profit of Rs 520 crore, up 36% from Rs 381 crore last year. Net premium income rose 15% YoY to Rs 15,105 crore from Rs 13,104 crore in the same quarter last year.
Experts lauded the Union Budget 2024 for its emphasis on skilling, employment, and women's workforce participation. Key initiatives include a Rs 2 lakh crore package for youth and increased funding for education and skills. The strategic focus aims to drive job creation and economic growth in emerging sectors.
On Sunday, a full moon graced Paris, perfectly aligned with the Olympic rings displayed on the Eiffel Tower.
Prime Video has introduced generative AI-powered personalized recommendations to enhance user experience globally. Launched on July 23, these updates will become available to all customers over the coming weeks. The aim is to help viewers discover new titles, manage subscriptions, and switch add-on subscriptions seamlessly through a single login.
On a day when nifty and sensex are trading in red, thanks to the banking sector. It is the mid-cap index which is not only keeping its head above the water but even market breadth in that segment is better. This is pretty much the opposite of what happened on the day of the budget. So, as a principle of investing, don't look at short term movement of indices to decide whether to invest in a particular stock or not. It is the underlying business which matters. Second, because the reaction of the market to STCG and LTCG has been very muted... Читать дальше...
The company, which is selling just one model in the country currently, is planning to drive in two mid-size SUV models (one five-seater and one seven-seater), one electric SUV and a refreshed version of its compact SUV Magnite.
The Union Budget 2024-25 introduced key measures for the leather and footwear sector, according to CLE Chairman Rajendra Kumar Jalan.
All central government ministries and departments must form in-house committees to identify and fill backlog reserved vacancies through special recruitment drives, as instructed by Minister of State for Personnel Jitendra Singh. This process, including continuous vacancy identification and filling, aims to address root causes and ensure compliance with reservation policies.
Meta said it is expanding access to Meta AI - the assistant in its apps and devices - and introducing new features to help users with answers, ideas and inspiration. Meta AI is now available in 22 countries, including Argentina, Chile, Colombia, Ecuador, Mexico, Peru and Cameroon.
The Union Budget presented by Finance Minister Nirmala Sitharaman outlined a long-term roadmap for a developed India known as 'Viksit Bharat'. The budget focuses on boosting growth across multiple sectors, including agriculture, employment, manufacturing, urban development, energy security, infrastructure, innovation, research, and next-generation reforms. Priority areas were identified to sustain high growth rates and address challenges hindering progress towards the 2047 goal.
In the past five years, the Indian government has appointed 1,195 candidates from reserved and backward categories to the IAS, IPS, and IFS services. The appointments were distributed as follows: 233 in 2018, 231 in 2019, 223 in 2020, 250 in 2021, and 258 in 2022. The reservation policy provides 15% for Scheduled Castes, 7.5% for Scheduled Tribes, and 27% for Other Backward Classes. Data indicates steady appointments across these categories each year.
Two SME IPOs, VL Infraprojects and SA Tech Software India, commanded over 100% premium in the grey market. VL Infraprojects' shares were trading with a premium of Rs 55, while SA Tech Software India had its IPO opening on July 26. Both companies aimed to use net proceeds for funding general corporate purposes and working capital requirements.
Capital gains, STCG, LTCG tax rates changes: Be it investment into equity, debt, gold, mutual fund, or property, the changes announced in Budget 2024 will impact all assets you hold. ET Wealth Online explains the new capital gain tax regime after Budget 2024 and how it will affect investors.
Sanjay Gupta, in a post on LinkedIn on Wednesday said, "As I start my new role as Google's APAC President, this serves as a powerful reminder of the role we play as an enabler. APAC isn't just any region; it's the heart of global growth and innovation, home to half the world's population and poised to lead the tech revolution."
We have eliminated those which have been bought before 2001, because if you have a property before 2001, you have to make note of this point which is called FMV, fair market value, that was not being respected before yesterday's budget, that has to be respected immensely after today's budget.
Hi-Tech Pipes aims to have 13.5 MW of renewable energy capacity for captive usage by December 2024, with an installed solar power capacity of 8.5 MW and plans to install another 5 MW gradually. The company's green power sourcing will contribute around 30% of its total power requirement. Additionally, Hi-Tech Pipes has signed an MoU with a renewable energy supplier for green hydrogen projects and operates six manufacturing facilities across India.
The Bihar Public Examinations (PE) (Prevention of Unfair Means) Bill, 2024, was tabled by state Parliamentary Affairs Minister Vijay Kumar Chaudhary and passed with voice vote amidst a walkout by the opposition. The new legislation aims at curbing malpractices in competitive examinations, including the leak of question papers, in the state which, incidentally, has been at the centre of the NEET 2024 question paper leak controversy.