Sandip Sabharwal recommended a company-specific strategy over midcap or largecap classifications in light of high market valuations, suggesting a 15% cash reserve. He discussed Birla's impact on the jewellery sector and praised Cipla’s quarterly performance. Sabharwal noted the potential for pharma stocks to outperform due to limited current investment in the sector.
On July 27, heavy waterlogging at Rau's IAS Study Circle in Old Rajinder Nagar led to the deaths of three civil services aspirants as floodwaters inundated the basement. Videos showed the basement flooding and panic among students. Police are interrogating MCD officials about the drainage system, and the coaching center's owner and coordinator face charges. MCD has since sealed 13 illegal coaching centers.
Manu Bhaker won a historic bronze medal in the Women's Air Pistol event at the Paris Olympics 2024. Union Sports Minister Mansukh Mandaviya praised her achievement and highlighted the substantial investment in her training. Bhaker's victory marks India's first shooting medal by a woman at the Olympics.
ITR form for salaried: Beginning in AY 2024-25, the new tax regime will be the default choice. Each year, you will need to choose between the old and new tax regimes for that specific Assessment year. Failing to meet the ITR filing deadline has both financial and non-financial consequences.
A total of 8,547 shares changed hands on the counter till 11:52AM (IST)
The Supreme Court sought responses from Bihar's government and NHAI on a PIL concerning bridge safety after multiple collapses. The PIL requests a structural audit and expert panel to assess and address bridge conditions. Bihar's flood-prone status exacerbates these incidents, highlighting the urgent need for intervention to ensure public safety.
A Delhi court has suspended the sentence of social activist Medha Patkar in a 23-year-old defamation case filed by former Lieutenant Governor V K Saxena. Patkar, who received a five-month jail term, was granted bail on a bond of ₹25,000. The case involves Patkar's 2000 press release, which allegedly harmed Saxena's reputation. The court has sought Saxena's response by September 4.
Income tax refund: After submitting your tax return, if you meet the requirements for a tax refund, you should receive the refund plus interest at a specific rate in the event of a delay. Nonetheless, this is not always the case.
A total of 222,593 shares changed hands on the counter till 11:47AM (IST)
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment.
The Supreme Court has refused to stay the Patna High Court order that set aside the increase in reservation for Backward Classes, SC and ST from 50% to 65% in public employment and admission to educational institutions. The Bihar government issued gazette notifications in November 2023 to increase the jobs quota from 50% to 65%. The Bihar Reservation of Vacancies in Posts and Services Amendment Bill and the Bihar Reservation (Admission In Educational Institutions) Amendment Bill were passed to increase the quota.
The Congress has strongly condemned right-wing social media profiles and a section of online media for spreading alleged fake news about AICC general secretary K C Venugopal. The reports claimed that Venugopal attended a programme organised by a bank employees' union in his constituency, Alappuzha, on July 27, where the name of former Pakistan President Pervez Musharraf was allegedly included in the list of prominent personalities to be paid tributes.
The Bombay High Court has summoned Shiv Sena's Ravindra Waikar following a petition by Shiv Sena (UBT) candidate Amol Kirtikar, who challenged Waikar's election from Mumbai North West Lok Sabha seat. Kirtikar alleges vote discrepancies and seeks to have the election declared null and void.
Delhi Coaching Centre Flooding: A tragedy in Old Rajender Nagar has spotlighted the misuse of basement spaces in Delhi. Violations of the Master Plan of Delhi 2021 (MPD 2021) and Unified Building Bylaws (UBBL) 2016 are common, with many basements used illegally for activities like libraries and coaching centers. MCD has sealed several basements and coaching institutes in response.
Going forward, quarter two will be better than quarter one and quarter three and four are definitely our best quarter in terms of advances, so that will continue, that clearly is going to happen. Our focused attempt on improving portfolio quality over the last two years and very specifically, April 23 onward, some of the specific initiatives that we took are holding up extremely well.
The stock quoted a 52-week high of Rs 1707.1 and a 52-week low of Rs 792.0.
A long buildup, indicating a bullish trend, occurs with rising open interest, volumes, and stock prices. On Monday, five stocks saw fresh long positions.
PNB Share Price Target Buy or Sell: Punjab National Bank's shares surged 7% after announcing a 159% YoY jump in net profit for Q1 FY25, reaching Rs 3,252 crore. Net interest income rose by 10% to Rs 10,476 crore. The bank saw improvements in asset quality and a YoY deposit growth of 8.50%. Brokerages had mixed views on the stock, with some recommending a sell.
The Quad foreign ministers from the US, Japan, Australia, and India expressed deep concern over the South China Sea situation during their meeting in Tokyo. Their joint statement, without naming China, criticized unilateral actions and coercive maneuvers in the disputed waters. They also condemned North Korea's missile launches and stressed the importance of a free and open Indo-Pacific. This meeting underscored the Quad's commitment to regional stability and cooperation amid rising tensions and assertiveness from China.
A total of 13,904 shares changed hands on the counter till 11:31AM (IST).
Honeywell announced a long-term deal with Air India to maintain Auxiliary Power Units (APUs) in its aircraft fleet. This collaboration will help reduce maintenance costs and improve fleet availability. Honeywell emphasized their commitment to supporting Air India's modernization and growth. The agreement is aimed at achieving more efficient and reliable operations.
The stock quoted a 52-week high price of Rs 896.75 and a 52-week low of Rs 250.15.
Cement Stocks: This quarter’s results show the asset quality seems to have peaked and the best of the asset quality seems to be behind the banking sector, which is fine, like it is an industry where there will be cycles of NPA formation and cut-downs. However, the upswings will be much lower, says Sandip Sabharwal
The Nifty IT index was trading 0.27 per cent down at 40866.75.
On July 26, futures open interest surged for NSE F&O stocks, leading to a total increase of over 10% compared to the previous trade.