Budget 2024: The recent Union Budget, presented by the Finance Minister on July 23, unveiled a range of initiatives aimed at addressing the ongoing employment challenges, backed by an allocation exceeding Rs 2 lakh crore. However, the swift adoption of AI in sectors like construction and other labor-intensive industries raises concerns about its potential impact on the Modi 3.0 administration's employment agenda.
What happened in the COVID period, there was a gamification. The trading became a video game. You got access through online brokerages and the cost of access with this zero brokerage without realising the STT, the GST in terms of IGST, the exchange charges, the government charges, the stamp duty, all those if you add in it was a hefty sum as well.
Israeli forces have recovered the bodies of five individuals taken hostage during Hamas's October 7 attack on southern Israel. The deceased include Maya Goren and soldiers Ravid Aryeh Katz, Oren Goldin, Tomer Ahimas, and Kiril Brodski. The bodies were retrieved from Khan Yunis in Gaza. The operation followed earlier announcements from Israeli kibbutzim regarding the recovery of Goren and Goldin. The October 7 attack resulted in 1,197 Israeli deaths and 251 hostages, with ongoing violence claiming over 39,145 lives in Gaza.
On the technical charts, the RSI of the stock stood at 41.44.
Jammu and Kashmir has experienced a surge in military casualties due to recent terrorist attacks. On July 24, Naik Dilwar Khan was killed in a shootout with suspected Pakistani terrorists near the LoC in Kupwara. This follows the death of Lance Naik Subhash Chander on July 23 during an operation in Poonch. Increased terrorist activity has been noted, particularly in Jammu, leading to a heightened security response and ongoing operations to combat the threat.
Finance Minister Nirmala Sitharaman explained that the new 12.5% long-term capital gains tax would cost less without indexation. She highlighted middle-class benefits, including increased standard deductions and subsidies on student loans and housing. She denied political favoritism in budget allocations and affirmed the government’s commitment to anti-corruption measures. Sitharaman urged people to consult the CBDT’s clarifications.
SK Hynix, South Korea's top chip maker, recorded its highest quarterly profit since 2018, boosted by strong AI chip demand, particularly high bandwidth memory (HBM). Despite this, shares dropped 8.4% due to tech sector declines. The firm plans to ship 12-layer HBM3E and HBM4 chips soon, remaining a key Nvidia supplier.
On the technical charts, the RSI of the stock stood at 52.96.
The 30-share BSE Sensex was down 392.82 points at 79756.06
Problems with soil health are growing as the African continent struggles to feed itself. Africa has 65% of the world’s remaining uncultivated arable land but has spent about $60 billion annually to import food, according to the African Development Bank.
Larsen and Toubro (L&T)’s shares rose by 2% after it reported a consolidated net profit of Rs 2,786 crore for Q1 FY25. Revenue from operations saw a 15% YoY increase, driven by robust execution in projects and manufacturing. Orders grew by 8%, with strong momentum in the Middle East, per analysts insights.
A total of 150 shares changed hands on the counter till 10:35AM (IST).
The 30-share BSE Sensex was down 419.29 points at 79729.59
Clinitech Laboratory's SME IPO aimed to raise Rs 5.78 crore through a fresh equity issue, opened on July 25 and closed on July 29. The company offered shares at Rs 96 apiece, with plans to expand its diagnostic business. It reported total revenues of Rs 6.43 crore and a net profit of Rs 3.
Police arrested three youths, including Agniveer Ishmeet Singh in Mohali's Balongi after allegedly stealing a car at gunpoint using pepper spray on the driver in Mohali district. Ishmeet, on leave from his job in West Bengal, did not return to work after his leave ended. The trio had a history of vehicle thefts and were caught with stolen vehicles and a pistol.
As of 30-Jun-2024, promoters held 50.26 per cent stake in the company, while FIIs held 18.75 per cent and domestic institutional investors had 8.44 per cent.
Poor diet, sedentary lifestyle, stress and hormonal imabalance are some of the biggest reasons of weight gain
The Nifty IT index was trading 0.37 per cent down at 39964.75.
A concerted effort from all stakeholders, including government and private corporations, is essential to build a robust circular economy framework to sustain India's growing economy and population.
Over the past three years Nestle and other consumer goods companies have raised prices across their brands to cover sky-high input costs amid supply chain issues after the pandemic.
Indian shrimp farmer stocks soared after new government proposals aimed to boost local aquaculture. Proposals included added financing and reduced taxes on feed imports. India seeks to enhance its global shrimp market share through improved cold-storage and testing facilities.
The House of Representatives established a bipartisan task force to probe the attempted assassination of former President Trump at a Pennsylvania rally, voting 416-0. The task force will include seven Republicans and six Democrats. Overarches include security lapse investigations and recommendations to prevent future incidents. Findings will be reported by December 13, 2024.
The NSE Nifty index was trading 127.16 points down at 24286.35
Coffee prices saw significant hikes due to supply disruptions in Vietnam and Brazil. Brands like JM Smucker Co., and Pret A Manger increased prices to maintain margins.
