Earlier in the month of April, Ultratech Cement’s board had declared a dividend of Rs 70 per share for all its eligible shareholders.
Foreign ministers from Australia, India, Japan, and the United States, part of the 'Quad' grouping, convened in Tokyo to discuss maritime security and cyber defense enhancements. The meeting, which followed recent security discussions between Tokyo and Washington, addressed concerns over China's increasing regional influence. Australian Foreign Minister Penny Wong emphasized the need to safeguard regional stability, while Japanese Foreign Minister Yoko Kamikawa stressed cybersecurity and maritime training. Читать дальше...
Stocks that were in focus include names like L&T, which gained 2.21%, Zomato, which rose 2.75%, and Ramco Cement, whose shares jumped 3.23% on Friday.
India's major bond fund managers foresee a prolonged decline in interest rates, driven by improved economic indicators and fiscal discipline. They are heavily investing in 30-year bonds, benefiting from increased foreign demand. Despite optimism, some experts remain cautious about the pace of rate cuts.
A fire broke out early Monday at a fast-food restaurant in Delhi's INA market, injuring four to six people. Officials reported that seven to eight firefighting vehicles are currently on site, and efforts to control the blaze are ongoing. Station Training Officer Manoj Mehlawat stated that the fire was reported at 3:20 am and affected two restaurants. Excessive commercial cylinder storage may have contributed to the incident. The cause of the fire is still under investigation, with more details expected soon.
The yen fell after hitting a 12-week high against the dollar last week due to equity market recovery. Focus shifted to central bank meetings in Japan and the U.S. Sterling remained steady and bitcoin rose following Donald Trump's positive remarks. The Bank of Japan might raise rates while the Federal Reserve is expected to maintain them.
Gold prices rose on Monday amidst expectations of a U.S. rate cut in September and heightened Middle Eastern tensions. Spot gold increased to $2,397.65 per ounce. Focus shifted to the Federal Reserve's meeting, with the market predicting a rate cut in September. The Indian market saw high gold premiums due to slashed import duties.
Vice President Kamala Harris' presidential campaign has ignited significant enthusiasm among the Indian-American community, following President Joe Biden's withdrawal from the race. With her Indian heritage, Harris symbolizes hope and representation for over 4.4 million Indian-Americans. Ajay Bhutoria, deputy national finance chair, emphasized Harris' appeal in key battleground states. The campaign reported $200 million raised and 170,000 volunteers within the first week. Harris will face former... Читать дальше...
Apple's AI features will not be included in the initial iOS 18 and iPadOS 18 releases in September. Instead, they will start rolling out in October. Developers will get early access for testing via iOS 18.1 and iPadOS 18.1 betas as early as this week. The features will be available on recent iPhone, iPad, and Mac models.
Oil prices increased on Monday due to Middle East tensions after a rocket attack in the Golan Heights. Israel and the U.S. blamed Hezbollah, which denied involvement. Brent crude and WTI futures saw modest gains, though concerns about China's demand limited these. The potential for a wider conflict and Gaza ceasefire talks influenced the market.
India's tennis campaign at the Paris Olympics concluded quickly as Sumit Nagal and the doubles pair of Rohan Bopanna and N Sriram Balaji lost their opening matches to French opponents. Nagal fell to Corentin Moutet in a three-set match, while Bopanna and Balaji were defeated by Edouard Roger-Vasselin and Gael Monfils. Nagal's strong start in the final set was undone by Moutet's comeback. Bopanna and Balaji struggled against the powerful French team, marking a disappointing end to their Olympic journey.
Billionaire tycoons Gautam Adani and Kumar Mangalam Birla are in a fierce competition within India's cement industry, focusing on acquiring assets and expanding production capacity. Adani's entry in 2022 disrupted the market, with both Adani Group and Birla's UltraTech Cement Ltd. executing several deals. Adani aims to double production capacity to 140 million tons by 2028, whereas UltraTech targets 200 million tons by 2027. The infrastructure boom is fueling massive cement demand in India.
Happy Monday! FirstCry may file its final IPO papers this week, sources said. More on this in today’s ETtech Morning Dispatch.
External Affairs Minister S. Jaishankar met Australian counterpart Penny Wong in Tokyo on Monday to discuss enhancing bilateral relations in security, trade, and education, and strengthening cooperation in the Indo-Pacific. Both ministers are attending the Quad Foreign Ministers' Meeting, involving Australia, India, Japan, and the United States. Jaishankar previously held discussions with U.S. Secretary of State Antony Blinken and unveiled a bust of Mahatma Gandhi in Tokyo. The Quad aims to keep Indo-Pacific sea routes free of influence.
After a benign June inflation report, markets are wagering the Federal Reserve will lay the groundwork for a September rate cut at its policy meeting on Wednesday. Futures are fully priced for a quarter-point easing and even imply a 12% chance of 50 basis points, and have 68 basis points of easing priced in by Christmas.
Indian equity markets are experiencing a robust bull run, climbing steadily despite various challenges. Last week marked the eighth consecutive week of gains despite volatility and profit booking. Going forward, analysts say first quarter earnings will remain a key trigger, with many large companies scheduled to report their results.
Bandhan Bank on Friday reported 47% growth in its consolidated net profit at Rs 1,063 crore in the first quarter, compared with Rs 721 crore in the last year period.
If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In the ninth part of this series, ET Wealth explains the difference between tax exemption and deduction.
The Budget did not lower taxes for taxpayers who were hoping for increased deductions or more exemptions under Section 80. However, it proposed some changes to make the new tax regime more attractive, without making any changes to the old tax regime.
In a paradigm shift, the Budget has completely overhauled the capital gains tax framework.
Private sector employees can now avail of 14% tax deduction, up from 10%, on the employer’s contribution to their NPS account.
The biggest input in the money that you and I make in the markets is not our supposed genius as investors, but what I call the ‘India tailwind’. We have made money not because we are great, or even good, investors, but because the Indian equity markets are up 3-4x in 10 years. I’m thankful to be living in a highgrowth, well-run economy, rather than a no-gain, no-tax one.
