Actor-politician Kangana Ranaut praised Prime Minister Narendra Modi's leadership and electoral victory, highlighting India's economic progress and expressing concerns about Himachal Pradesh's flood crisis in her first major Lok Sabha speech. Ranaut also emphasized the state's development achievements and advocated for an international airport in Mandi.
Union Minister Rajiv Ranjan Singh asserted the strong bond between JD(U), BJP, and TDP, dismissing opposition claims that the budget favors allies. Singh criticized Congress, using a "snakes and ladders" analogy to predict its decline, and emphasized the budget's focus on nationwide development and self-reliance amidst opposition protests.
Prime Minister Narendra Modi will chair the 9th Governing Council Meeting of NITI Aayog today. The meeting will discuss the roadmap for Viksit Bharat by 2047 and the role of states in achieving this goal.
Opposition parties, led by Congress, disrupted Rajya Sabha proceedings over Agriculture Minister Shivraj Singh Chouhan's response on providing a legal guarantee for Minimum Support Price (MSP). Despite Chouhan's assurances on the government's commitment to farmers, opposition MPs protested, demanding a more definitive stance on MSP.
Annuity plans offered a robust solution for post-retirement financial security. These plans provided a predictable income stream and protected against market volatility. Deferred annuity plans utilized the power of compounding, ensuring nearly double the payouts compared to immediate annuities. Over 75% of working Indians aspired for comfort in retirement, but only 33% actively saved for it.
The Reserve Bank of India (RBI) reported a 12.6% increase in digital payments across the country as of March 31, 2024, according to its Digital Payments Index (RBI-DPI). The index, which measures the adoption of online transactions, rose across all parameters due to significant growth in payment performance and infrastructure.
Piramal Pharma Q1 Earnings: Piramal Pharma narrowed its net loss to Rs 89 crore in Q1FY25 from a net loss of Rs 99 crore in the corresponding quarter of the previous year.
Short covering occurs when investors buy shares to close out their short positions, indicating a shift from a highly negative outlook to a more positive one. On Friday, five stocks experienced this kind of activity.
Drug maker Cipla reported a 17.4% year-on-year (YoY) jump in net profit to Rs 1,178 crore in Q1FY25, led by strong US, India and South Africa sales momentum.
Entrepreneur Ravi Jaipuria and actor Akshay Kumar have invested in the Fashion Entrepreneur Fund (FEF), a platform dedicated to providing early-stage investments and mentorship for fashion entrepreneurs, as announced in a press statement on Friday. The fund will have a corpus of $3 million. However, the exact amounts contributed by Jaipuria and Kumar were not disclosed.
WayCool Foods, an agritech startup, has laid off 200 staffers in its third round in a year. The company confirmed the job cuts to ET but did not say how many employees were impacted.
In the Nifty pack, 47 stocks closed in the green, while 3 stocks ended in the red.
The Union Budget 2024 significantly altered India's capital gains tax regime. LTCG tax rates rose from 10% to 12.5%, and the indexation benefit was removed. These changes aim to simplify the tax system and align India with global standards, making it a competitive investment destination for domestic and international investors.
M3M India appointed Stuart McConnachie as Chief Construction Controller, entrusting him with project oversight, quality control, and safety regulations. With over 27 years of construction experience, Stuart has held leadership roles in various regions, including Thailand, the Middle East, and Europe. His previous work includes diverse projects such as JioWorld Mumbai and luxury retail spaces. Stuart's new role aims to integrate international standards and improve construction processes in the company. Читать дальше...
India's forex reserves reached an all-time high of $670.86 billion as of July 19, up $4.00 billion from the previous week. Foreign currency assets also increased by $2.57 billion to $588.05 billion, reflecting appreciation or depreciation of non-US units.
Opposition parties criticised Prime Minister Narendra Modi for his defense of the Agnipath scheme on Kargil Vijay Diwas, calling it "petty politics" and demanding its review. Congress leaders accused Modi of lying about the scheme's origins, while BJP MPs defended it as beneficial for youth and national security.
Electric scooter maker Ather Energy clocked a revenue of Rs 1,789 crore in the fiscal year 2024, a flat figure as compared to a year ago. Ather's loss widened over 22% to Rs 1,059 crore during this period.
The Nifty Realty index closed 1.15 per cent up at 1077.65.
All farmers growing notified crops in notified areas are eligible for coverage under the scheme voluntarily," Union Agriculture Minister Shivraj Singh Chouhan said in a written reply to the Rajya Sabha. Under the scheme, a comprehensive risk coverage for crops of farmers against all non-preventable natural risks from pre-sowing to post-harvest stages of the crops at a very reasonable premium for the farmers is being provided.
The Indian Taxation Service (I-T) has announced that the cost of acquisition for real estate properties purchased before 2001 will be the fair market value (FMV) as of April 1, 2001, or the actual cost of the land or building for the calculation of long-term capital gains (LTCG) tax. The FY25 Budget has reduced LTCG tax on real estate to 12.5%, from 20% previously.
The Nifty Bank index closed 0.8 per cent up at 51295.95.
The Petroleum and Natural Gas Regulator Board (PNGRB) announced that starting next month, tariffs for older petroleum product pipelines in India would rise by 17%, followed by a 3.4% annual increment to account for inflation. This change replaces the regulation that had been in place since December 2010. The adjustment aims to provide financial stability and support infrastructure growth. For pipelines operational before December 2010, the tariff will be 75% of basic railway freight for all products except LPG, which will remain at 100%.
Iphone New Prices: Apple has announced a 3-4% price reduction across its iPhone portfolio, reducing the cost of Pro or Pro Max models by Rs 5100 to Rs 6000. The price of Made-in-India iPhones, including the 13, 14, and 15, has also dropped by Rs 3000. The iPhone SE will cost Rs 2300 less. This is Apple's first time reducing the prices of its Pro models, following a reduction in the basic customs duty on mobile phones from 20% to 15% in the latest budget.
