North Eastern, Sportking India, Antony Waste Handling, Sonam Clock and Nitin Spinners, hit their fresh 52-week highs during the day.
"Especially in last 4 years the foray of retail investors into stock market through SIPs and mutual funds has been quite prolifically documented. Our national income data do not record this at market prices and that is the reason why there is a feeling financial liabilities have grown faster than financial assets of households," Nageswaran said.
A notorious gang in Delhi's Sadar Bazaar, known as the "Khujli Gang," uses itch-inducing powders to distract victims and steal their belongings. Their well-orchestrated thefts have been captured on CCTV, showing how they exploit distractions to execute heists. Two gang members have been arrested, and police urge vigilance to prevent such unconventional crimes.
NARCL started operation in January 2022 and acquires bad loans from banks, by paying 15% of the amount in cash and the rest in security receipts (SRs) which are to be matched with recovery over time. These SRs are guaranteed by the government, valid for five years, to be invoked by banks in case of resolution or liquidation of the bad loan.
The Nifty Auto index closed 1.15 per cent up at 25250.75.
The Economic Survey 2023-24 highlighted several challenges facing the growth of e-commerce in India, including data privacy concerns and rising online frauds. It projected India's e-commerce market to surpass USD 350 billion by 2030 but emphasized the need to address these hurdles.
The 2023-24 Economic Survey, presented by Nirmala Sitharaman and authored by V Anantha Nageswaran, highlights the OSOWOG initiative for solar energy. Launched at COP26 with the UK, it aims to interconnect global energy grids, targeting 500 GW by 2030 and 2,600 GW by 2050, emphasizing innovation and clean technology deployment.
The NSE Nifty index closed 21.66 points down at 24509.25
Retail investors in NSE: According to Economic Survey 2023-24, "The number of unique tax IDs registered on the NSE rose from 2.7 crore in FY19 to 9.2 crore in FY24. Most of the new retail investors are likely young and may have a higher risk appetite. It is also reflected in the interest that retail investors have shown in derivatives trading, especially expiration-day trading.
The Economic Survey, released a day before the Budget on July 22, stressed on how the Indian employee needs to be in good health to be gainfully employed.
The department stated that a clipping of the news is circulating on social media, claiming that the date for e-filing of ITR has been extended to August 31, 2024. The tax department has also warned tax filers about a scam doing the rounds with regards to income tax refunds.
Highlighting the initiatives taken by the Railway Ministry for the enhancement of operations and services, the survey mentioned Amrit Bharat Station Scheme, Mumbai-Ahmedabad High Speed Rail (MAHSR) project and Dedicated Freight Corridors (DFCs) with the progress made in these respective projects.
The NSE Nifty index closed 21.66 points down at 24509.25
Foreign investors net bought bonds under the Fully Accessible Route (FAR), most of which are a part of JPMorgan's emerging market debt index, worth 1.03 trillion rupees ($12.3 billion) in the last 10 months since the inclusion was announced, according to Clearing Corp of India.
The Economic Survey for FY 2023-24 emphasized the need for concerted efforts among the central, state, and local governments to enhance the quality of education, particularly at the primary level. It highlighted that the National Education Policy (NEP) 2020 aims to achieve foundational literacy and numeracy for every child by the time they complete the third standard.
Minister of State for Parliamentary Affairs, L Murugan, reported in Rajya Sabha that out of 913 assurances given by Ministers in Parliament over the last three years, 583 have been implemented, while 330 remain pending due to policy changes and amendments. It was noted that assurances are expected to be fulfilled within three months, with extensions sometimes sought. An Online Assurance Monitoring System has been established to track progress.
The stock of Persistent Systems staged a recovery on Monday with nearly 4% gain after losing over 6% on Friday following a sequential fall in net profit and contraction in operating margin for the June quarter. A ramp up in large deals, H1B processing costs and expenses towards ESOP took a toll on profitability.
The Nifty IT index closed 0.38 per cent down at 39773.15.
Kerala has expanded its contact list for Nipah virus risk to 350 individuals, with 101 classified as high-risk. Health Minister Veena George announced that tests are pending for 13 individuals, including the deceased 14-year-old boy's family, who have no symptoms but are being tested as a precaution. Surveillance teams are deployed in affected panchayats, and a team from ICMR is already on-site. Chief Minister Pinarayi Vijayan urged public cooperation and caution regarding bat interactions and consumption of potentially contaminated food.
India is set to upgrade its Sukhoi-30MKI fighter jets into advanced 'Super' Sukhois. This Rs 63,000 crore project includes cutting-edge radars, avionics, longer-range weapons, and multi-sensor fusion, extending their service life to 2055. With the IAF's current shortfall in fighter squadrons, this upgrade is crucial for national defense. The plan also aligns with India’s broader defense ambitions, including developing indigenous 5th-generation fighters by 2030.
State-owned UCO Bank on Monday reported a 147 per cent year-on-year jump in net profit to Rs 551 crore in the April-June quarter. The lender's bottomline in the corresponding period a year ago stood at Rs 223 crore.
The 30-share BSE Sensex closed down 102.57 points at 80502.08
