INDIA-MARKETS/INDIA BONDS-India benchmark bond yield flat in run up to budget; focus on FY25 borrowing plan
The Nifty Bank index was trading 0.19 per cent down at 52179.45.
Tunwal E-Motors' IPO listed on NSE SME at 8.5% premium (Rs 64; issue price Rs 59). Booked 12 times, it had Rs 82 crore equity and 57.5 lakh OFS, trading with Rs 5 GMP. Funds aid working capital, R&D.
India's Chief Economic Advisor, V Anantha Nageswaran, criticized developed countries for their climate action "double standards," highlighting their delayed commitments on coal power and fossil fuel bans. He argued that economic growth in developing nations is crucial for effective climate action and called for a balanced approach that prioritizes human welfare alongside climate goals.
Finance Minister Nirmala Sitharaman made her first appearance on the day of the presentation of the full Budget for FY 2024-2025.
Poonawalla Fincorp Ltd., incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 31123.76 Crore) operating in NBFC sector.
Sitharaman is set to present the Union Budget 2024 in Parliament today, marking her seventh consecutive budget, surpassing Morarji Desai's record of six consecutive budgets. This budget is expected to focus on changes to the income tax structure and improving the ease of doing business in India.
Jyothy Labs Ltd, in the FMCG sector, has broken out from a consolidation range, paving the way for potential record highs. Traders advised to accumulate at current levels for a target of Rs 580 in the next 3-6 months. Technical indicators suggest bullish momentum in the stock.
The state of Assam is facing a concerning outbreak, Japanese Encephalitis (JE), a vector-borne disease. At the Guwahati Medical College and Hospital (GMCH), 44 cases of JE have been reported since April 1 this year, with 10 fatalities. Assam has seen a rise in vector-borne diseases like dengue and JE in recent years, underscoring the need for public health vigilance and adherence to health protocols.
Chandra Shekhar Azad, who died at a young age of 24, organised and led revolutionary organisations which did not fully believe in the non-violence espoused by Mahatma Gandhi. Bal Gangadhar Tilak is also a revered freedom fighter who mobilised masses around cultural and political causes to build support for the freedom movement. The prime minister sent his tribute through social media platform X.
The Nifty Pharma index was trading 0.04 per cent up at 20648.85.
Neeraj Chopra's rise from a young boy in a rural Indian village to an Olympic champion has sparked a surge of interest in sports across the country. His success has set the stage for India's ambitious goal of hosting the 2036 Olympics, marking a significant shift in the nation's sporting landscape.
The Indian rupee rose to 83.6250 against the USD, mirroring gains in Asian currencies like the Korean won. Focus is on Modi's budget at 11:00 a.m., targeting a 5.1% fiscal deficit. The rupee hit a record low due to local importers' dollar demand. The dollar index is at 104.2, forward premiums 1.74%. Pabari expects stabilization within 83.40-83.70 range.
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
Gold and silver prices at MCX saw fluctuations, with gold at Rs 72,838 per 10g and silver at Rs 89,012 per kg. Factors included Chinese rate cuts, US political uncertainty, and upcoming US economic data.
VVIP Infratech's SME IPO aims to raise Rs 61.21 crore through 65.82 lakh shares at Rs 91-93, open till July 25, to list on NSE SME. With Rs 216 crore revenue, Rs 17.78 crore profit, managed by Share India Capital and Maashtila Securities, GMP is Rs 50. Key dates: July 26 allotment, July 30 listing.
The NDA's 2024 budget is pivotal for enhancing NEP 2020 with higher education budgets, e-labs, and effective teacher training.
As per the Survey, tabled by finance minister Nirmala Sitharaman in Parliament, there remain long-existing challenges of formalising a burgeoning workforce, facilitating job creation in sectors which can absorb workers shifting from agriculture, and ensuring social security benefits for those in regular wage and salaried employment.
Finance Minister Nirmala Sitharaman on Tuesday presented the full Budget 2024-25 in a paperless format. Carrying a digital tablet wrapped in a traditional 'bahi-khata' style pouch, Sitharaman continued the paperless tradition established in previous years.
They should be bold and give around one-and-a-half lakh crores of relief to individual taxpayers because the multiplier on this is very high. So, one-and-a-half lakhs crores of tax break can actually lead to ultimate incremental consumption boost of nearly three times of that, four-and-a-half lakh crores.
Among stocks listed on the NSE with a market capitalization exceeding Rs 1000 crore, six stocks have been identified as reaching a 5-year high at the close on July 22, indicating bullish momentum in these counters.
The industry expects the finance minister to focus heavily on economic growth, providing a significant boost to entrepreneurship and ironing out challenges on the path to growth.
"The problem with PM Modi is that he identifies Northeast states as small states with multiple groups fighting each other. He and HM Amit Shah don't understand the complexity of the region or the aspirations of the people," Gogoi said in a post on 'X'.
In the Nifty500 pack, seven stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 22, according to stockedge.com's technical scan data.
