The Reserve Bank of India's policy panel retained a 7.2% growth forecast for FY25, but the outlook for Q1 was tweaked lower, as stated by Governor Shaktikanta Das. The Economic Survey projected a conservative 6.5-7% growth for FY25, citing global uncertainties and domestic challenges. Analysts like IMF and ADB set the growth forecast at 7%.
China's anti-doping agency (CHINADA) called for increased testing of American athletes, accusing the US of hiding "systemic" doping abuses as tensions escalate between the two nations leading the Olympics medals table. This follows a media investigation revealing that 23 Chinese swimmers who tested positive before the Tokyo Olympics were allowed to compete due to alleged contaminated food. CHINADA's statement highlighted concerns about US track and field doping, citing the case of sprinter Erriyon Knighton. Читать дальше...
A downshift in the US would upend priorities for China, which has seized on a resurgent American economy post-pandemic to let domestic consumption take a back seat and instead leaned hard on external demand.
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) helps you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?
A total of 33,860 shares changed hands on the counter till 10:09AM (IST).
Foreign institutional investors decreased their shareholding in NSE-listed companies to 17.38% in Q1 FY25 from 17.72% a year earlier. The highest FII holdings as of June 30, 2024, were seen in companies like 360 One Wam, Samhi Hotels, Delhivery, CarTrade Tech, and Paytm, reflecting key investment choices.
Dhariwalcorp shares listed on the NSE SME platform with a 41.5% premium, reaching Rs 150 from an issue price of Rs 106. The IPO, largely welcomed by investors, was oversubscribed by 100 times. The company trades waxes and industrial chemicals, serving various industries domestically and internationally with a diverse range of quality products.
Austrian police have thwarted an ISIS-linked terror plot aimed at Taylor Swift’s concerts in Vienna. Two suspects, radicalized online, were arrested after authorities discovered bomb-making materials. The planned attacks led to the evacuation of 60 households and the eventual cancellation of the concerts. This case highlights the growing trend of online radicalization among teenagers and the increasing terror threats across Europe.
On the technical charts, the 200-day moving average of the stock stood at Rs 1586.92.
FD investors have recently benefited from high interest rates, but an upcoming reduction is anticipated. The RBI might follow global trends in rate cuts, impacting FD returns. As the current interest rate on FDs with long tenure is high, investors should consider securing current rates and revising investment strategies to mitigate potential future decreases, balancing long-term savings and liquidity.
RBI MPC repo rate decision: RBI MPC decided on Thursday to keep the repurchase rate (repo rate) unchanged at 6.5 percent for the ninth consecutive time. The decision was made unanimously by the MPC during their bi-monthly meeting. RBI Governor Shaktikanta Das announced the decisions of the meeting.
Home loan borrowers experiencing high EMIs may soon benefit from falling interest rates. Experts expect a rate cut cycle influenced by US Fed decisions and other global factors. Borrowers can optimize by opting for tenure reduction or transferring loans to competitive lenders to minimize interest costs and expedite loan repayment.
Tata Consumer, BPCL, Infosys, JSW Steel and Power Grid were among the top losers on NSE.
The report by the think tank Centre for Science and Environment (CSE) outlines findings from surveys conducted in Haryana, Punjab, Rajasthan, and Chhattisgarh and says the scheme has achieved only 30 per cent of its targets after six years, with the 2026 deadline fast approaching.
RBI MPC Meet at a Glance: The Monetary Policy Committee (MPC) led by RBI Governor Shaktikanta Das is set to announce its policy stance, likely to maintain current interest rates. The panel discussed inflation trends and food inflation concerns during its meeting on August 7, 2024. Four out of six MPC members voted to keep the repo rate unchanged, while others advocated for a 25 basis point cut and a neutral stance.
A total of 36,996 shares changed hands on the counter till 10:00AM (IST).
Bata India has been recovering from 5-year lows, with potential to reach new 52-week highs. Experts recommend high-risk, medium-term investors to consider accumulating the stock around Rs 1,500 levels, targeting Rs 2,000 within the next 4-6 months. The stock has held crucial support levels despite recent market volatility.
Mutual funds offloaded shares in 12 defence stocks amid concerns over high valuations, with retail investors stepping in to buy. Foreign institutional investors also increased their holdings in many of these stocks. Experts advised a careful stock-specific approach as high valuations may limit near-term gains despite strong order books and government focus on indigenization.
The Nifty Auto index was trading 0.27 per cent down at 24869.65.
Ahead of listing, the company’s shares had a GMP of Rs 14 in the unlisted market. The IPO, featuring a fresh equity issue of Rs 617.69 crore and an OFS of up to 1.42 crore shares, saw strong investor demand with a 13.78 times subscription. Proceeds will fund equipment purchases, debt repayment, and general corporate needs.
Maersk, viewed as a barometer of world trade, said global container demand was estimated to have grown 5%-7% in the second quarter, boosted by a 10% jump in Chinese exports on the year, among other factors.
Trade between India and Bangladesh through the Petrapole land port resumed Thursday under heavy security after being halted since August 5 following the fall of Sheikh Hasina’s government in Bangladesh. Despite partial trade resumption through other ports in West Bengal on Wednesday, Petrapole remained closed until Thursday. This port handles the highest bilateral trade between the two nations. India's exports to Bangladesh fell to USD 11 billion in 2023-24, with imports also declining. The trade mainly includes perishable goods and textiles.
The Taiwanese company's presence in the state was viewed as an all-around win: It would boost advanced chipmaking in the United States and help diversify TSMC's manufacturing away from Taiwan, an island democracy that is the focus of increasingly aggressive geopolitical claims by China. TSMC has committed $65 billion to the project, and in April, the Biden administration announced that the company would receive a $6.6 billion grant funded by the CHIPS and Science Act.