Income tax refund status: If you've overpaid taxes for a financial year, you can claim an income tax refund after filing your income tax return (ITR). The refund is issued after your ITR is processed and confirmed via an intimation notice under section 143(1) of the Income-tax Act, 1961. The deadline for filing returns for FY 2023-24 (AY 2023-24) is July 31, 2024.
Temasek foresees steady growth in India supported by infrastructure investments and recovering private consumption. The investor's Net Portfolio Value increased to SGD 389 billion, driven by gains in the US and India. Temasek maintained a cautious investment strategy, focusing on sectors aligned with key trends like digitization and sustainable living.
PM Modi Putin meet: Indian Prime Minister Narendra Modi and Russian President Vladimir Putin held a formal dialogue at the 22nd Annual Bilateral Summit. PM Modi highlighted the benefits of India-Russia energy cooperation in controlling fuel prices and inflation in India, and noted that Russian manufacturing in India is creating jobs for Indian youth. Upon his arrival in Moscow, PM Modi received a Guard of Honour, and Putin warmly welcomed him.
The Nifty Auto index closed 2.23 per cent up at 25823.55.
SpiceJet Contempt Notice: The Delhi High Court orders contempt case against SpiceJet directors for failing to comply with court orders to hand over aircraft and engines to lessor TWC Aviation Capital. SpiceJet's counsel claims "substantial" compliance, but court disagrees, emphasizing strict adherence to deadlines. Contempt proceedings may be dropped if compliance is met by July 8.
Former IAS officer Manish Verma, a close aide of Bihar CM Nitish Kumar, recently joined JD(U), having previously served as Additional Advisor to the CM, and was inducted into the party in the presence of top leaders. Hailing from Kumar's home district Nalanda and belonging to the Kurmi community, Verma's loyalty to the CM and strong ties with other JD(U) leaders are notable. His past roles include district magistrate in Patna and Purnea, as well as membership in the Bihar State Disaster Management Authority.
Putin hosted Modi in the Kremlin for talks expected to include Russia energy supplies to India and economic and strategic ties.
And Maruti has always been saying that the government must encourage all these technologies, adopt alternative routes in addition to electric cars to get to our goals in the area of emission and substitution of imported oil.
Vegetable prices soar in India due to extreme weather, pushing consumer inflation up after five months of decline. Economists predict a rise to 4.80% in June. Core inflation remains low, but concerns linger over weak domestic demand and potential future tariff hikes. Central bank expected to cut rates only once this year.
The Nifty Bank index closed 0.27 per cent up at 52568.8.
The Nifty Bank rose nearly 100 points to close at 52,517 while the Nifty50 hit fresh record highs above 24,400 levels. HDFC Bank, SBI, PNB and ICICI Bank closed with gains while selling was seen in AU Small Finance Bank, Kotak Bank, IDFC First Bank and Bandhan Bank.
Union Minister L Murugan accused the DMK government in Tamil Nadu of widespread atrocities against Dalits and lack of safety for political leaders, citing incidents of violence and murder since 2022. He highlighted the increase in cases of atrocities against Dalits and criticized Chief Minister M K Stalin for the alleged failures. Murugan's delegation from the BJP will seek action from national commissions, questioning the DMK's commitment to social justice and criticizing the Congress for its silence on recent tragedies in the state.
Citibank credit cards: Axis Bank has informed that the migration of Citibank credit cards to Axis Bank credit cards will be completed by July 15, 2024. This is as per migration FAQs available on the Axis Bank website.
DP Singh from SBI MF discusses the latest AMFI data showing increased SIP flows in equity funds. While largecap funds show muted inflows, midcap and smallcap funds continue to receive strong investments. The market remains optimistic about future fund flows.
One of the common things which can be heard these days is “ Nifty and sensex has moved so high, how far it will move”. Now there is no counter to such statements because of the fact that corrections can come any time. But there is another fact that this statement was equally applicable when Nifty was at 20,000 and sensex was at 70,000.
Mumbai Police arrested 24-year-old Mihir Shah in connection with a BMW hit-and-run incident that killed a 45-year-old woman. Shah had been evading arrest, prompting the police to form six teams and issue a lookout notice. Investigations revealed Shah had visited a pub in Juhu before the incident, and statements from his friends have been taken. Maharashtra Chief Minister Eknath Shinde expressed concern over rising hit-and-run cases and vowed zero tolerance for misuse of influence.
The Nifty Realty index closed 1.14 per cent up at 1127.05.
On Tuesday, the Indian benchmark equity indices Nifty 50 and Sensex reached new all-time highs, buoyed by leading car maker Maruti Suzuki. Positive sentiment was supported by a robust macroeconomic growth outlook and consistent foreign inflows.
AirAsia and Qube Cinemas will offer a 'cinematic in-flight' experience in 130 cinemas across India for six months. The initiative connects 16 Indian cities to over 130 destinations in Asia and Australia. Paul Carroll revealed movie-goers can win tickets, showcasing travel through local creators, including bustling cities and serene beaches, enhancing reach across 12 cities.
Maruti Suzuki and consumer stocks kept D-Street benchmarks on track to continue their post-election rally. The 30-share Sensex advanced 391 points to settle at 80,352. The broader NSE Nifty gained 113 points to top 24,430. A strong macroeconomic growth outlook and steady return of foreign inflows also boosted investor sentiments. The market capitalisation of all listed companies on the BSE increased by Rs 1.58 lakh crore to Rs 451.29 lakh crore.
Alphacorp partners in a Rs 350 crore joint venture for a luxury residential project in Gurgaon, developing 500,000 sq ft across two land parcels. The project, 'Alphacorp SKY1', will feature 200 units in a 29-floor building, aiming for Rs 600 crore in revenue. The development will focus on sustainability with GRIHA and IGBC certifications, offering apartments between 2,400 to 3,600 sq ft and set for completion in four years.
Budget expectation: The Automotive Tyre Manufacturers' Association (ATMA) urged restrictions on waste tyre imports, warning that India is becoming a dumping ground for scrap tyres. Imports have surged fivefold since FY20-21, posing environmental and safety risks. ATMA also called for duty-free natural rubber imports and addressing the inverted duty structure affecting the tyre industry.
Meta and Vodafone optimized video delivery across 11 EU networks, easing capacity. Ericsson reported 25% traffic growth by 2024, driven by video at 73%. Alberto Ripepi called it pragmatic amid Big Tech scrutiny. April trials cut Meta's UK traffic. Gaya Nagarajan stressed innovation; Telefonica also optimizes. EU 5G investment push stalled by 2023 end.
