The strong consumer demand will be complemented by improved raw milk supply which is expected to increase 5% this fiscal, due to better cattle fodder availability, given the favourable monsoon outlook this fiscal. Milk availability will be further supported by normalisation of artificial insemination and vaccination processes after facing disruption in the past.
India's dairy industry is projected to experience a healthy revenue growth of 13-14% this fiscal year, driven by strong consumer demand and increased raw milk supply. The rise in value-added product consumption and ample milk availability from good monsoon prospects are expected to support this growth. Despite higher working capital requirements and increased debt levels due to capital expenditure, credit profiles are forecasted to remain stable with strong balance sheets.
Indian archer Deepika Kumari won her opening match against Reena Parnat of Estonia in a dramatic 6-5 shoot-off, advancing to the round of 32 at the Olympic Games. Initially down 3-5, Deepika leveled the scores by shooting consecutive 10s in the final set. She clinched victory with a decisive 9 in the shoot-off, as Parnat managed only an 8. Deepika will face Quinty Roeffen from the Netherlands in her next match, hoping to continue her climb in the tournament.
Non-resident Indians (NRIs): While filing income tax return (ITR) NRIs need to keep a close watch whether deemed residency status have been applied on them or not. As per Mudit Vijayvergiya, Founder, SBNRI, "Under the purview of Income Tax law, NRIs must obtain a Tax Residency Certificate (TRC) to claim DTAA benefits in India."
Two decades ago, Warren Buffett had warned that derivatives are nothing but time bombs, both for the parties that deal in them and the economic system. And now Sebi data has proved the 'God of stocks' right once again.
Revenue from operations during the April-June 2024 period was up marginally year-on-year to Rs 36,465 crore.
The 30-share BSE Sensex closed up 285.94 points at 81741.34
In June, the growth rate of India's eight core sectors slowed to 4% year-on-year, down from 6.3% in May and 8.2% in June 2023. Crude oil production fell by 2.6%, while cement production rose by 1.9%. Coal production surged by 14.8%, and electricity generation increased by 7.7%. These sectors are a key component of the Index of Industrial Production (IIP), reflecting 40.27% of its weight.
Dixon Technologies is preparing to open a new factory in Chennai to manufacture laptops for top notebook brands in India, with plans for operations to begin within 8-10 months. The company's chairman, Atul B Lall, revealed that the facility will target growth in the IT products sector. The focus is on expanding production for global brands and capturing a significant share of the Indian IT market valued at nearly $10 billion.
The Nifty Realty index closed 0.37 per cent down at 1093.75.
M&M's investment plan of Rs 37,000 crore over the next three years is a testament to the group's commitment to growth and innovation, he added. He said the Mahindra group is already working on skill-building programmes to increase technical know-how and female workforce participation.
Air India Express launched direct flights between Chennai, Kolkata, and Dhaka from September 3. This initiative aimed to bolster trade, tourism, and medical travel from Bangladesh. Six weekly flights were scheduled for each route. Dhaka became the airline's 15th international destination, offering connections to the Gulf and other international locations.
Surya highlighted that in 2020, the Kerala State Disaster Management Authority had recommended relocating 4,000 families from landslide-prone areas in Wayanad. "Till today, no action has been taken," he asserted. "The MP representing Wayanad did not even raise this issue until now."
Nandi Hills, located around 60 km from Bengaluru, offers a refreshing escape with its stunning sunrise views and cool, misty climate.
Gold prices in India plummeted to ₹67,400 per 10 grams, the lowest since March, due to a combination of reduced import duties and worries about Chinese demand. The government has slashed customs duties on gold and silver by 6%. The basic customs duty has been reduced to 5% from 10%, and the Agriculture Infrastructure and Development Cess lowered to 1% from 5%.
The Nifty IT index closed 0.18 per cent up at 40851.1.
As many as 49 days after it was closed due to a fire at a bookshop situated in the mezzanine level between the food court on the third floor and restaurants on the fourth floor, Acropolis Mall in Kasba, Kolkata, is scheduled to reopen on Saturday, August 3.
Tata Consumer, Britannia, Dr. Reddys, RIL and Grasim Inds. were among the top losers on NSE in today's trade.
Indian rower Balraj Panwar secured his spot in the Final D of the men's singles sculls event at the Paris 2024 Olympics, finishing sixth in the semi-final C/D with a time of 7:04.97. The 25-year-old army member's relentless efforts exemplify his dedication, aiming for excellence despite the tough competition. Meanwhile, badminton player Lakshya Sen triumphed over Jonatan Christie, earning a place in the pre-quarters, and shooter Swapnil Kusale qualified for the final round in the men's 50m 3P event.
The Nifty Bank index closed 0.11 per cent up at 51553.4.
The board of directors of Navratna PSU RITES today approved a bonus issue in the ratio of 1:1 along with the first interim dividend of Rs 2.50 per share for FY25 for its eligible shareholders while declaring its June quarter results.
Ambuja Cements reported significant growth in the April-June quarter, adding 275 million tonnes in limestone reserves. The company highlighted achievements in cost leadership, efficiency, and growth, supported by innovations and a focus on ESG. CEO Ajay Kapur announced the anticipated expansion of cement capacity to 140 MTPA by FY'28. Ambuja's net worth rose to Rs 59,465 crore, remaining debt-free. With green power initiatives and major expansions underway, the company is set for further growth,... Читать дальше...
