India purchased a record amount of edible oils for July delivery, driven by increased palm oil and soyoil purchases ahead of anticipated import duty hikes. Imports are projected to reach 1.92 million metric tons, up 26% from the previous month. These actions are expected to reduce inventories in top producer countries and support benchmark prices.
ITC's shares soared nearly 10% in 2 days, surpassing Rs 500 and hitting a record Rs 510.60 on BSE. A 5% jump followed after the government kept tobacco tax rates unchanged. Taxation, handled by the GST Council, includes NCCD on cigarettes, adjustable in Budget.
India's video market is forecasted to reach $13 billion in revenue by 2028, driven by significant investments from streaming platforms. With a growing focus on local content production, the industry is expected to create 280,000 jobs by 2028.
After restoring LTCG tax on equity investment without indexation, government eliminates indexation for all capital gains taxes.
India has highlighted the need for a review of training provided to armed guards in the shipping industry due to increased threats from seaborne drones in the Red Sea.
The deduction under Section 80CCD(2) is planned to be increased from 10% to 14% of the basic pay. This section allows you to contribute up to 10% of your basic salary to NPS without paying taxes.
Income tax changes in Budget 2024: Slab tweaks and higher standard deduction will make new tax regime more attractive.
I think this is a decision that needs to encompass multiple angles and therefore, the Economic Survey, what it did was to put that idea out for discussion in the public domain.
MRF declared a Rs 194 Q4FY24 dividend per share and a total annual dividend of Rs 200 for FY24, with a July 25 record date. Shares closed at Rs 1,31,267.70 on BSE. Prior dividends include Rs 3 interim and Rs 169 final.
Equity indices in India opened lower post-capital gains tax hike. Sensex down 0.05% at 80,396; Nifty50 0.11% lower at 24,451 by 9:20 am. Indices fell up to 1.6% Tuesday but recovered on rural program boost in Budget.
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Kajaria Ceramics Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 22969.82 Crore) operating in Building Materials sector.
Mahindra & Mahindra Financial Services Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 36553.15 Crore) operating in NBFC sector.
Budget: The recent budget announced by Finance Minister Nirmala Sitharaman brings significant relief to consumers by lowering customs duties on various imported goods, thereby making both luxury items and essential commodities more affordable.
Blue Dart Express Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 18616.58 Crore) operating in Logistics sector.
ICICI Prudential Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 92051.15 Crore) operating in Financial Services sector.
Confidential memo acknowledges Harris energizing Democratic base with $100 million raised in record time. Trump campaign pollster predicts temporary bump for Harris but asserts voters will refocus on her record and ties to Biden's decisions. Uncertainty looms as race heats up.
Investec has maintained a hold rating for HUL and increased the target price to Rs 2,797 from Rs 2,439. The company's Q1 performance slightly exceeded expectations across all metrics, with anticipated gradual improvement. Categories such as UVG were affected by Personal Care and Foods, while premium categories are expected to show stronger growth moving forward.
Hindustan Unilever Ltd., incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 649979.18 Crore) operating in FMCG sector.
Recent budget changes eliminate indexation for mutual funds with 35-65% equity, affecting capital gains via Cost of Inflation Index, pushing funds towards 65% equity. Gold mutual funds, ETFs receive clearer tax rules versus marginal rate sovereign bonds. Fund of funds obtain LTCG benefits post-24 months, per Mirae Asset Mutual Fund.
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The proposal, which follows a representation from a stakeholder, suggests that testing at the prescribed laboratory may be waived for cough syrups being exported to the US, UK, Canada, EU, Japan, Australia, Singapore, Republic of Korea and Switzerland.
Elon Musk's social media poll asks if Tesla should invest $5 billion in xAI, his AI startup competing with OpenAI and Google. 70.2% of 322,000 users support it as of 0234 GMT. Tesla, reporting its lowest profit margin in 5 years, cut prices to boost demand. $10B AI expenditure includes Nvidia hardware. xAI raised $6 billion.
Union Budget 2024: Finance Minister Nirmala Sitharaman, during the presentation of the budget for FY25, announced two new initiatives aimed at generating employment and sponsoring education for young Indians. The first initiative is a large-scale paid internship program, projected to engage one crore young individuals in one-year internships at India’s top 500 companies over the next five years.