Budget Decoded: Will the FM stick to Modi govt's time-tested budget playbook, or will she do something new this time? We will know in a few hours from now.
Budget 2024: Minister of State Finance Pankaj Chaudhary announced that the Union Budget will be presented at 11 am today, endorsing Prime Minister Narendra Modi's vision of inclusive growth. "This budget is based on PM Modi's mantra of Sabka Saath Sabka Vikas," Chaudhary stated.
ITC Stocks on Budget: ITC leads Sensex stocks on Budget days with nine positive returns (avg. 1.47%). IndusInd Bank follows at 80%. Worst ITC day was in 2020 due to excise duty hike. Analysts foresee no further hikes; Prabhudas Lilladher raised ITC weight citing stable taxes and business growth. Motilal Oswal projects cigarette volume and EBIT growth.
Q1 Results Today: HUL, Bajaj Finance, ICICI Sec, and ICICI Pru Life will release Q1 results. HUL's profit is estimated at Rs 2,479-2,562 crore, revenue Rs 14,925-15,451 crore. Bajaj Finance expects 26% net interest growth, 30% AUM rise. EBITDA to grow 0.4% YoY. Parag Milk Foods, Gard Furnace, Thyrocare Technologies to report, Bajaj Finance's March profit was Rs 3,824 crore.
Exercise Pitch Black 2024, held in Australia from July 12 to August 2, is the largest in the series' history, featuring 140+ aircraft and 4,435 personnel from 20 countries. These exercises, involving nations such as the USA, India, and the Philippines, underscore growing concerns about China's regional aggression. The event highlights cooperation and interoperability among participants, with leaders emphasizing partnership and shared values. While not aimed at any specific country, the exercise demonstrates... Читать дальше...
The ruling Democratic Party in the US initiated a virtual process to elect its presidential nominee after President Joe Biden endorsed Kamala Harris. The selection will be completed by August 7. The Democratic National Convention is scheduled for August 19-22 in Chicago, where Harris is expected to be certified. The process includes electronic voting by delegates, with Harris currently endorsed by a majority of party leaders.
Equity mutual funds post-Feb 2024 interim budget have shown notable returns: HDFC Defence Fund leads with 47.04%, followed by Bandhan Infra at 35.59%, LIC MF Infra at 34.61%, and Motilal Oswal Midcap at 31.54%.
Budget 2024: Nirmala Sitharaman’s Budget must balance welfare and capex amid coalition politics. Risks are capital gains tax hike, populist measures, and STT increases on equity sales and F&O. High Sensex, Nifty raise RBI, Sebi concerns. Robust GST, RBI dividend, asset monetisation help. Economic Survey critiques speculation. SAMCO, Bajaj, Windmill highlight volatility risks.
Russia and China are increasing cooperation in the Arctic region, worrying the U.S. military. Russia reopened Soviet-era military sites and China eyed mineral resources and shipping routes. The Pentagon is closely monitoring this collaboration, recognising the potential impact on regional stability. As Arctic sea routes become more accessible due to melting ice, major economies are using them, and the U.S., Canada, and Finland are joining forces to build icebreaker ships to counter Russian and Chinese influence in the region.
Donald Trump survived an attempt on his life on July 13 when a young gunman fired multiple shots at the former US president at a campaign rally in Pennsylvania, injuring his right ear.
The Vice President's campaign officials and allies have been making hundreds of phone calls to lock in delegate support ahead of the Aug. 19-22 Chicago convention while also seeking to block any would-be challengers, Reuters was first to report on Sunday.
Select mid cap stocks getting back into momentum mode as broader market recovery gets pace.
It might appear odd to some but the fact is that if one looks at the last few years' budget, it has been more a statement of what kind of policy changes will happen over the next twelve months or even longer period. So, a budget which defines policy direction rather than specific. Will the budget be different because it is coming with a backdrop of a stronger fiscal situation. Whatever the cases might be, one cannot rule out correction if there is any sort of disappointment for the street, probability of which looks a bit less. Читать дальше...
Vice President Kamala Harris has garnered enough Democratic delegates to become her party's nominee against Republican Donald Trump, according to an Associated Press survey. This development comes after President Joe Biden decided to drop his bid for reelection.
The U.S. House Homeland Security Committee has requested CrowdStrike CEO George Kurtz to testify on the recent global tech outage caused by a glitchy update. The incident impacted millions of Windows devices and disrupted various industries. The committee aims to address the magnitude of the outage and discuss future prevention measures.
Gold prices remain stable ahead of key U.S. economic data and Federal Reserve meeting. Chinese gold demand weakens while central banks in emerging markets maintain interest in gold purchases. Political developments with U.S. Vice President Kamala Harris and fluctuations in silver, platinum, and palladium prices.
Wall Street's benchmarks rose as megacap growth stocks like Alphabet and Tesla rebounded. Biden's withdrawal and Harris' potential candidacy create uncertainty. Market awaits earnings reports from tech giants. Shift towards smaller-cap stocks noted. Cybersecurity and airline sectors face challenges. Mattel Inc surges on acquisition offer news.
Oil prices dropped for the third day in a row due to concerns about increasing supplies and low demand. Market analysts predict a potential surplus next year, affecting Brent prices. Updates on oil inventories are awaited for further clarity.
