A total of 32,110 shares changed hands on the counter till 11:52AM (IST).
Nepal plane crash: The reason why the plane skidded was attributed to a fire which was eventually doused, but not before if caused the plane to veer off the runway and crash, leading to the deaths.
A total of 54,786 shares changed hands on the counter till 11:47AM (IST).
Finance Minister Nirmala Sitharaman's latest Budget focuses on job creation, underscored by the acronym EMPLOYMENT. With India's youth, especially the educated, prioritizing job security over welfare, the Budget introduces incentives for industries to boost employment. The success of these measures hinges on private sector response and effective job creation. Additionally, new skilling programs aim to improve job prospects for young people.
Union Finance Minister Nirmala Sitharaman countered accusations from the Opposition that called the budget discriminatory. She addressed these claims directly, stressing that singling out states in each budget isn’t standard practice.
AAP MP Sandeep Pathak criticised the NITI Aayog meeting, stating that opposition concerns go unheard. Tamil Nadu CM MK Stalin and Karnataka CM Siddaramaiah also boycotted the event due to unaddressed budget issues. Congress General Secretary KC Venugopal labeled the Union Budget 2024 as discriminatory, leading INC CMs to announce a boycott of the NITI Aayog meeting. INDIA bloc leaders protested in Parliament, calling the budget discriminatory.
Tax rates on capital gains on the sale of long-term held real estate have been lowered by the budget, although taxpayers will no longer receive the indexation benefit.
During Wednesday's trading session, five stocks saw an increase in fresh long positions indicative of such a buildup.
A total of 607,183 shares changed hands on the counter till 11:42AM (IST)
The government has introduced significant tax changes impacting stock market transactions, property sales, and gold imports. Revised tax rates have been proposed, with a focus on simplification. Industry associations have welcomed the reforms to resolve tax disputes and address loopholes in corporate gifting regulations.
Analysts recommend over 50 stock picks post Budget, including Ultratech, HUL, ICICI Bank, TCS, and more. Industries like agro-chemicals and automobiles are expected to benefit.
Union Parliamentary Affairs Minister Kiren Rijiju praised the Union Budget as "good" and accused the opposition of misleading people by claiming it favors only Bihar and Andhra Pradesh. The INDIA bloc MPs protested, labeling it "discriminatory." Rijiju emphasized the budget's nationwide benefits, including infrastructure and farmer support.
India's new urban development strategy focuses on brownfield redevelopment, transit-oriented development, and infrastructure improvements. Key initiatives include financial support for city projects, TOD plans for large cities, enhancements in water and sanitation, expanded housing under the PM Awas Yojana, development of street food hubs, and stamp duty reforms. These measures aim to transform urban areas and address growing city needs.
Sandeep Tandon, CIO, Quant Mutual Fund, discusses potential impacts on trading volumes due to short-term gains tax changes. Maturity and global interest will help absorb the shock. Bond market positively responded to fiscal discipline. Key concerns include the US market and interest rates. Investment opportunities exist in FMCG, PSUs, insurance, and energy sectors.
A total of 713 shares changed hands on the counter till 11:32AM (IST)
In the past, people in India had the option to use 'indexation benefit' to reduce the tax on the profit made from selling a property. This benefit enabled the difference between the purchase and sale price of a property (i.e., the profit) to be modified by the current inflation rate during the time when the property was owned.
Announced allocations include substantial increases in some areas, such as an uplift for the PM Poshan scheme, along with government support for student loans up to Rs 10 lakh for higher education in domestic institutions. Meanwhile, some other segments face budget cuts.
Businesses across sectors such as manufacturing, construction, real estate, infrastructure, logistics, retail, banking, automobiles and auto components are facing a skill gap of 2-2.5 million, according to exclusive estimates shared with ET by Teamlease Degree Apprenticeship, which collaborates with companies, including large conglomerates, to help train and upskill their workforce.
United Spirits' shares rose 6.5% to Rs 1,416.85 on BSE after a Q1 net profit of Rs 485 crore for June 2024, up 2%. Revenue grew 7%, with beverage alcohol up 8% and sports down. CEO Hina Nagarajan mentioned fiscal 2025 performance, renovation, long-term competitiveness, and soft demand. Investments worth Rs 7.
Chetana Education's IPO, opening today, plans to raise Rs 46 crore through a fresh equity issue. With shares priced at Rs 80-85, investors can bid for 1600 shares in 1 lot. The company specializes in educational book publishing and aims to list on the NSE SME platform.
The government's commitment to bolstering India's technology sector and fostering innovation has been met with praise, though some areas have sparked debate.
The stock quoted a 52-week high price of Rs 239.2 and a 52-week low of Rs 111.5.
The NSE Nifty index was trading 48.25 points down at 24430.8
