So, if you see from a medium-term perspective or a shorter-term perspective, there could be some pressure because of the margin pressure. But on a longer-term basis, we continue to remain positive on Nestle because there are two-three reasons for that.
N Jayakumar, MD of Prime Securities, emphasized the importance of inclusive growth in India post-Covid. He highlighted the need for fair wealth distribution through increased taxes on high earners. Jayakumar also pointed out the strength of the retail investor base in India and recommended sectors like telecom infrastructure, generic pharmaceuticals, and sustainability for investment.
The move aims to reduce its debt and finance capital expenditures. The fundraising will occur in two-three tranches over the next 12-18 months. The formal announcement is expected in a few days. According to the sources mentioned above, the company has approached several bankers for the fundraising process and discussions with ICICI Securities are in the final stage.
Longest living animal: Bowhead whales can live over 200 years, making them one of the longest-living mammals on Earth.
A total of 9,498 shares changed hands on the counter till time (IST).
The ruling DMK has criticised the "step-motherly treatment" given to Tamil Nadu in the Union budget 2024-25 and announced a state-wide agitation against the BJP-led central government. The party argues that the budget should ensure equitable development by allocating funds to all states, rather than focusing on select states like Tamil Nadu that contribute significantly to national development.
The heavy rainfall overnight has disrupted some public transport services, causing inconvenience to countless commuters.
The Indian Cyber Crime Coordination Centre (I4C) shut down 379 illegal loan websites and removed 91 phishing sites between October 2023 and March 2024. I4C also made 310 malicious '.in' domains non-functional and introduced a 'Report Suspect' feature to combat cyber fraud.
Last date to file ITR: The tax department has been receiving requests from Chartered accountant associations to address these issues promptly. Despite multiple CAs and taxpayers requesting an extension beyond the July 31 deadline, the Income Tax Department has not responded.
Cryptocurrency markets experienced significant declines as global tech stock slumps pushed investors toward safer assets. Bitcoin and Ethereum dropped sharply, with the overall crypto market cap falling to $2.31 trillion.
Industry players believe the budget will drive private investments, creating jobs and helping achieve "Viksit Bharat" by 2047. Virendra D. Mhaiskar and Kavita Shirvaikar highlight the boost to infrastructure with Rs 11.11 lakh crore allocated. Policies supporting recycling, affordable housing, critical mineral imports, and domestic solar equipment are praised.
Canara Bank Q1 Results: Net interest income or NII during the reporting quarter increased 6% year-on-year to Rs 9,166 crore as against Rs 8,666 crore in the last year period. Provisions for Q1 fell 16% YoY to Rs 2,282 crore, of which provisions for the non-performing assets declined 10% YoY.
Delhi Petrol Dealers' Association resumed PUCC operations after meeting with transport officials. The shutdown since July 15 was due to dissatisfaction with increased pollution certificate rates. The transport department agreed to review rates based on actual costs.
A total of 2,656 shares changed hands on the counter till 01:24PM (IST).
Manipur CM N Biren Singh emphasized the need to universally condemn violence and work to prevent it. At a book launch event, he highlighted federal aid for state relief efforts, countering opposition claims. Singh detailed allocations for prefabricated homes, food provisions, and compensations. He urged unity and adherence to legal frameworks to maintain peace.
Bahujan Samaj Party chief Mayawati called for scrapping the NEET, citing irregularities and mental distress for candidates. Opposition parties criticized the BJP-led government for alleged malpractices in the exam. The Supreme Court dismissed pleas for re-test, saying there was no evidence of systemic breach.
Belly fat loss: Green tea, ginger tea, lemon water and other drinks and juices to reduce belly fat
Kamala Harris has previously taken tougher stances on Big Tech. As the former district attorney of San Francisco and then attorney general of California, she pushed for laws against cyberbullying and to promote greater privacy for children online. She brought the chiefs of OpenAI, Microsoft, Google and Anthropic to the White House to agree on voluntary safety standards for the technology. She led a White House executive order mandating how the federal government would use and develop AI.
The stock quoted a 52-week high price of Rs 340.35 and a 52-week low of Rs 123.55.
Finance Minister Nirmala Sitharaman announced that the government had plans to tackle food inflation through enhanced storage and irradiation for perishables. Food inflation rose significantly year-on-year in June, driven by soaring prices, especially tomatoes. The government is striving to improve supply chain linkages and manage food prices effectively.
AAP has been given a new office in Lutyens Delhi, following Delhi High Court directions. The new office is located in Bungalow No 1 in Pandit Ravi Shankar Shukla Lane, recognizing AAP's status as a national party.
Chief Minister Eknath Shinde assessed Maharashtra's flood situation, directing Raigad collector to aid affected residents. Tamhini Ghat traffic was halted due to landslide debris. Shinde highlighted water-logged areas in Pune and alerted NDRF, SDRF, and army teams. He urged citizen cooperation as IMD issued orange alert in Mumbai. Pune schools and colleges were closed amid heavy rains in Western Ghats.
A total of 165 shares changed hands on the counter till 01:09PM (IST)
Ashok Leyland reported a 9% YoY decline in net profit to Rs 526 crore for Q1 ending June 2024, missing estimates. Revenue rose 5% to Rs 8,599 crore. The company saw strong demand across all segments, contributing to its highest-ever Q1 CV volumes. EV subsidiary Switch Mobility launched its second e-LCV. Shares traded slightly lower.
Kotak Mutual Fund launched the Kotak Nifty Midcap 50 Index Fund, an open-ended scheme tracking the Nifty Midcap 50 Index. The NFO opened and closes on August 8. Managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen, this fund offers exposure to midcap companies, aligning with Kotak's varied investment strategies.
