Hindustan Zinc received a tax demand of Rs 1,170 crore for AY21 from the Income Tax Department's National Faceless Assessment Centre. The company stated this demand is based on previous disallowances that were favorably resolved by the Income Tax Appellate Tribunal. Hindustan Zinc will appeal and expects a positive resolution.
Around 10 of the 582 equity mutual funds available in 2024 have reported negative returns so far, with all of these funds classified as International Funds.
The Kerala government declared two days of mourning following a landslide in Wayanad that resulted in 84 fatalities and 116 injuries. Multiple agencies, including the Indian Army and Navy, have been deployed for rescue operations. State ministers have arrived on-site, and heavy rainfall alerts remain active in several districts.
Capital markets regulator Sebi has spent a little over Rs 62 crore in the last five years for investors' education activities, including for awareness of risks and volatility in the Futures & Options (F&O) segment, Parliament was informed on Tuesday.
Thakur retorted by highlighting his own military service, "I have served as a captain. Akhilesh ji, don't just preach. Sitting with Rahul Gandhi has made you accustomed to spreading rumours and lies." In a final rebuttal, Yadav suggested that Thakur's defensiveness stemmed from political insecurity.
In the Nifty pack, 22 stocks closed in the green, while 28 stocks ended in the red.
Numerous passengers began hopping off the bogies and strolling down the tracks as the trains headed for CSMT gathered on the tracks. The problem, according to commuters, was affecting both the Slow and Fast routes on the Main Line, resulting in trains arriving 20 to 30 minutes late.
The telecom regulator has withdrawn the 2015 recommendation exempting telcos from paying license fee and spectrum charges on minimum presumptive AGR, impacting bankrupt carriers RCom and Aircel. The move closes the matter, requiring the companies to pay regulatory dues. DoT can't take action until resolved in NCLT, accumulating dues.
Finance Minister Nirmala Sitharaman reported that Customs and Directorate of Revenue Intelligence (DRI) officers seized 847 kg of gold, valued at Rs 544 crore, at airports from April to June 2024. This is part of ongoing efforts to combat gold smuggling.
The Kanwar Yatra caused severe traffic congestion at the Kalindi Kunj border between Delhi and Noida, with two lanes reserved for pilgrims and disruption from broken-down trucks. Restrictions will continue until August 2, and commuters are advised to use alternate routes to avoid delays.
The 30-share BSE Sensex closed up 60.14 points at 81415.98
Short covering involves purchasing shares to close a short position, indicating a transition from strong bearishness to optimism. On Tuesday, five stocks experienced short covering.
Dogwifhat (WIF) surged to a $2.8 billion market cap before cooling at $2.6 billion, despite being 45% below its peak. The meme coin market is buzzing with new prospects, including Meme Games ($MGMES), Shiba Shootout ($SHIBASHOOT), PlayDoge ($PLAY), and WienerAI ($WAI), each enticing investors with various unique features.
Pari Olympic 2024 (Google Trends): As Barodians celebrate Manu Bhaker's recent bronze medal, they recall Govindrao Sawant, the only athlete from Gujarat to win an Olympic medal. Sawant earned a silver in hockey at the 1960 Rome Olympics. Despite his significant achievement and contributions to hockey, Sawant's legacy has faded, and he faced neglect, including financial struggles before his death.
ITR filing last date: The last date to file income tax return for FY 2023-24 (AY 2024-25) is July 31, 2024. Apart from not paying penalty of Rs 5,000, it is important to file ITR before the deadline expires to get the option to file income tax return using old tax regime.
After a three-decade legal battle, Lata Jain from Ghaziabad will receive a plot worth Rs 7 crore, despite having paid just Rs 50,000 in 1988. She initially booked the land to build a nursing home, but the Ghaziabad Development Authority later said it was disputed and offered a refund, which she refused. Jain's case was ruled in her favor by the state consumer forum in 2009, and the Allahabad High Court upheld this decision.
Consumer durables and auto sectors led the market rally, closing 1.12% and 0.6% higher, respectively. However, FMCG, IT, Pharma, PSU Bank, and Healthcare sectors faced declines. Despite this, the total market capitalization on BSE saw a significant increase of Rs 1.06 lakh crore, reaching Rs 460.98 lakh crore. Overall market sentiment remained positive with 2,297 stocks advancing against 1,605 declining, indicating a bullish trend.
The Congress party has asked Lok Sabha Speaker Om Birla not to consider the media interaction by farmer leaders, who met with Leader of Opposition Rahul Gandhi last week, as a breach of parliamentary decorum. Congress general secretary K.C. Venugopal, in a letter to Birla, pointed out that non-parliamentarians, including filmstars and athletes, have previously interacted with the media in Parliament without objections. He argued that allowing such interactions strengthens democracy rather than undermining it.
India's Hindustan Petroleum Corp Ltd (HPCL) seeks LNG import deals as it plans to start its 5 million tpy LNG terminal in western India by year-end, according to finance head Rajneesh Narang. The terminal will meet gas needs for HPCL's refineries, including a new Rajasthan project, and improve refining margins.
Ahead of tomorrow's Fed interest rate decision, the domestic stock market closed slightly higher on Tuesday, driven by auto and energy stocks.
Born in Haryana, Bhaker began shooting at the age of 14, shortly after the 2016 Rio Olympics. "She impulsively decided to try her hand at shooting and loved it. Within a week, Manu Bhaker asked her father to get her a sport shooting pistol to hone her craft," her biography on the Olympic portal stated.
India faced extreme weather events with devastating impacts. Torrential rains in Delhi and Assam led to floods and landslides, causing numerous deaths. A cyclone in Tamil Nadu and floods in Kerala added to the destruction. A glacial lake burst in Sikkim and landslides in Uttarakhand compounded the crisis, displacing thousands and causing significant fatalities.
Delhi-headquartered Jungle Camps India (JCIL) has filed the draft red herring prospectus (DRHP) with market regulator SEBI to raise funds via the initial public offering (IPO) route.
