Vice President Kamala Harris, following a recent change within the Democratic Party, delivered a powerful speech at the Chicago convention on Thursday, energizing supporters as she became the second woman to accept the party's presidential nomination. This event showcased the party's renewed optimism against Donald Trump after President Joe Biden decided not to seek re-election.
On Friday, the Supreme Court adjourned the hearing of Delhi Chief Minister Arvind Kejriwal's pleas challenging his arrest and seeking bail in the CBI case related to the alleged Delhi Liquor Policy scam. The Court granted the CBI an additional week to file a counter affidavit.
The 30-share BSE Sensex was up 68.41 points at 81121.6
Rakesh Singh, a retired IAS officer, has been appointed as the new chairperson of Karnataka Real Estate Regulatory Authority (K-RERA) following a high court order. This comes after the court prohibited Naveen Raj Singh from serving as the acting chairperson. Rakesh Singh has experience in leading the water resources department and urban development.
A long buildup happens when open interest and trading volumes rise with the stock price in the Futures and Options segment, indicating a bullish trend. On Friday, 5 stocks saw new long positions.
The NSE Nifty index was trading 25.96 points up at 24837.45
Around 63% of equity mutual funds have failed to surpass their benchmarks in the last three years, with mid-cap funds performing the worst. Only 78 out of 213 funds outperformed. Small-cap and flexi-cap funds also lagged, with significant underperformance noted across various categories. Investors should carefully consider this before making decisions.
The Nifty Realty index was trading 1.04 per cent down at 1032.6.
RailTel Corporation's shares surged 8% to a day's high of Rs 507.70 on the BSE today, following its announcement of a Rs 52.66 crore order from the Uttar Pradesh Police Recruitment and Promotion Board.
Women's workforce participation in India remains low due to safety concerns like sexual harassment and gender discrimination. Despite policies like the POSH Act, many workplaces lack adequate measures for protection. Experts suggest more comprehensive efforts, including education and zero-tolerance policies, to create a safer work environment for women.
A total of 1,536 shares changed hands on the counter till 11:06AM (IST).
The US and India have signed an agreement to support each other's national defence needs. The deal enables both countries to acquire critical defence resources to address supply chain disruptions. The arrangement is expected to strengthen the US-India Defence Technology and Trade Initiative, fostering deeper cooperation between their defence industrial bases.
Indian Railways anticipates a drop in iron ore transport for domestic steel plants while nearly doubling its export projection for fiscal 2024-25. The total iron ore movement is expected to remain flat. Significant growth is expected in coal loading, while food grain transport is projected to decline further.
IREDA shares surged over 10% in the past week, with a 3.3% gain to Rs 265.7 during Friday's intraday trade on the BSE. This rally precedes a crucial board meeting on August 29, where the company is expected to discuss raising Rs 4,500 crore through a FPO or other financing methods.
Anil Ambani and 24 entities, including former officials of Reliance Home Finance, are barred by Sebi from the securities market for five years for fund diversion. Sebi imposed a Rs 25 crore penalty on Ambani and restricted him from participating in the market. Reliance Home Finance was also fined Rs 6 lakh and barred for six months.
LTCG tax rate on property sale with no indexation: If a taxpayer does not avail of the Section 24 deduction of Rs 2 lakh on interest paid on a housing loan, then the interest cost can be added to the property price to inflate the purchase price. However, what if you opt for a new tax regime and claim no deduction of Rs 2 lakh? Can you still add interest cost to the purchase price to lower the LTCG and tax on it?
At the World Robot Conference this week in Beijing, over two dozen Chinese companies showed off humanoid robots designed to work in factories and warehouses, with even more displaying the made-in-China precision parts needed to build them. China's push into the emerging industry draws from the formula behind its initial EV drive more than a decade ago: government support, ruthless price competition from a wide field of new entrants and a deep supply chain.
The Relative Strength Index of the stock stood at 41.51 on Friday.
Karnataka cabinet has approved several development projects, including a Rs. 500 crore sky deck, an underground tunnel from Hebbal to Silk Board, and 52 new Indira canteens in Bengaluru. Additionally, 592 Anganwadis will be established. The cabinet also decided to rename Ramanagara district to Bengaluru South.
RBI MPC Members: India's government is set to appoint new external members to the Reserve Bank of India's monetary policy committee by October. The selection panel will recommend candidates soon, with announcements expected by September's end. This move follows a global shift in central bank policies and comes before a crucial meeting on interest rates.
Shopify has not given a reason for discontinuing the COD app in India, which is still largely a cash-driven market where several small and medium merchants rely on cash on delivery for their online orders. The company helps small and medium businesses build and sell online stores, has recommended a few alternative apps, including Indian e-commerce enabler GoKwik’s Kwik COD app and COD King.
Cashfree Payments’ Secure ID is also tailored for startups and MSMEs, helping them manage their verification processes and mitigate fraud without the need for extensive infrastructure or high operational costs.
Retail investors have bolstered their market presence by raising stakes in 29 companies, delivering substantial returns. Public sector firms like Bharat Electronics and Hindustan Aeronautics have seen significant gains. Mid and small-cap stocks have particularly benefitted, though they now exhibit stretched valuations. Investors are advised to consider midcaps for better opportunities.
