On July 24, the closing prices of five stocks from Nifty500 pack dropped by more than 1.5% relative to the VWAP, and a shift below the VWAP suggests a potential bearish trend.
Pune Rains: Heavy rains in Pune have caused widespread flooding, claiming four lives and leading to school closures and evacuations. The India Meteorological Department issued a red alert, and authorities are releasing water from the Khadakwasla dam. Rescue operations are underway, and Deputy Chief Minister Ajit Pawar is overseeing relief efforts. Power outages and infrastructure damage have been reported across the city.
New capital gains taxation rules:The finance minister Nirmala Sitharaman has suggested revisions to the capital gains tax system in the 2024 Budget. Below are key inquiries provided by the tax department concerning the recent capital gains tax adjustments introduced in the 2024 Budget.
Chatbots such as Open AI's ChatGPT can write poetry, summarize books and answer questions, often with human-level fluency. These systems can do math, based on what they have learned, but the results can vary and be wrong. They are fine-tuned for determining probabilities, not doing rules-based calculations. Likelihood is not accuracy, and language is more flexible, and forgiving, than math.
The Uttar Pradesh Police Recruitment and Promotion Board will hold written exams for 60,244 constable positions on August 23, 24, 25, and 30, 31, 2024, with two daily shifts and 5 lakh candidates per shift. The exams, rescheduled for integrity, will follow strict guidelines and anti-cheating measures, including severe penalties for malpractices.
A total of 15,489 shares changed hands on the counter till 11:41AM (IST).
And I think it will be good for the system because we have seen that exuberance, we had seen that stretch valuations, and everybody had started extrapolating returns that they have seen so far in the broader market, etc. So, it will be a welcome sign for the market.
Budget 2024 removed the indexation benefit hitherto applicable to property sale. Till now, LTCG on property sale was being taxed at 20% with indexation benefit. Now, the rate stands reduced to 12.5%, but the seller will have no indexation benefit.
After the Union Budget 2024, the tax structure on mutual funds changed, with short-term gains now taxed at 20% and long-term gains at 12.5%. Experts suggest focusing on long-term investments and diversification. Equity-oriented funds remain attractive, while sector allocations favor agriculture, defense, and infrastructure. International funds and gold mutual funds have become more tax-efficient.
This examination will be conducted in 2 shifts daily on the said dates and about 5 lakh candidates will appear in this examination in each shift.
A total of 4,384 shares changed hands on the counter till 11:37AM (IST)
The Rouse Avenue Court in Delhi has extended Chief Minister Arvind Kejriwal's judicial custody until August 8 in connection with the Delhi excise policy scam. This decision follows the expiration of Kejriwal's previous judicial custody, which was initially set to conclude today. Earlier, the same court had extended his judicial custody in the CBI case linked to the Delhi Excise policy until July 25.
India is cautious about Chinese investments due to potential security risks, despite suggestions to seek Chinese FDI for economic growth and exports. Authorities emphasize the need for a careful approach given past issues with Chinese corporate behavior, such as alleged tax evasion by smartphone and solar panel manufacturers. Experts note that other countries have also imposed restrictions on Chinese investments.
The Relative Strength Index of the stock stood at 42.87 on Thursday.
On July 24, the closing prices of three stocks from the Nifty500 pack rallied over 2% relative to the VWAP, and a shift above the VWAP suggests a potential bullish trend, according to stockedge.com's technical scan data.
The Gujarat High Court has observed that in cases of domestic violence and cruelty filed by women, the petitioners often exaggerate the charges on the lines of dowry allegations to make the case "graver" against their husbands and in-laws. The court noted that this has been observed by the Supreme Court as well and the tendency to rope in all relatives of the husband in such cases has become more prevalent.
Akums Drugs and Pharma IPO: Akum Drugs and Pharmaceuticals set a price band of Rs 646 to Rs 679 per share for its IPO, aiming to raise Rs 1,857 crore. The IPO includes a fresh issue and an offer-for-sale by promoters and an existing investor.
A total of 3,551 shares changed hands on the counter till time (IST).
The Nifty Bank index was trading 1.09 per cent down at 50757.6.
As of June 2024, 32 companies invested Rs 8,282 crore under the Production-linked Incentive (PLI) scheme for large-scale electronics manufacturing in India. The investment includes Rs 3,136 crore from greenfield and Rs 5,146 crore from brownfield companies. PLI Scheme 2.0 for IT hardware saw 27 companies investing Rs 464.66 crore.
The environment is good. Earnings growth this quarter will be probably around 10% and for the next few quarters it will also be in that range and rates are going to come down. And barring a recession, which I do not think is going to happen, the stock market should not fall too much.
A total of 35,827 shares changed hands on the counter till 11:21AM (IST).
Gaurav Gogoi, the Deputy Leader of Congress in Lok Sabha, submitted an adjournment notice on Thursday to discuss the recent wave of train accidents that have resulted in significant casualties and economic disruption.
Nestle India Q1 Results: During the quarter, the MNC packaged foods company's 5 top brands grew by double digits. Despite a hot summer in India, its beverages business thrived with strong growth. Innovations contributed to a 30% growth in prepared dishes and cooking aids.
A cloudburst in Manali, Himachal Pradesh, triggered a flash flood, disrupting National Highway-3. The Lahaul and Spiti police diverted traffic via Rohtang. Fifteen roads, including key routes in Mandi, Kinnaur, and Kangra, were closed. The weather department issued a 'yellow' alert for heavy rain. Rain-related incidents have claimed 49 lives, with losses around Rs 389 crore since June 27.
