Indian stock markets saw a strong recovery, with Nifty and Sensex surging by over 1percent, attributed to positive global cues and an oversold market. Experts remain cautious about sustainability due to ongoing economic challenges
CBDT chairman Ravi Agarwal expressed confidence in exceeding the Rs 22.07 lakh crore direct tax collection target for FY25, citing strong growth in corporate and non-corporate tax revenues. He also urged taxpayers to disclose foreign assets before the December deadline
Bank of Baroda’s report highlights India’s resilience in handling current rupee challenges, citing strong macroeconomic fundamentals, controlled deficits, and robust foreign exchange reserves.
Maruti Suzuki and Hyundai see their market share fall to a 12-year low in FY25, as Mahindra and Toyota rise to all-time highs, marking a significant shift in India’s passenger vehicle market.
Reliance Power reported a net profit of Rs 2,878 crore in the July-September quarter, boosted by a Rs 3,230 crore gain from subsidiary deconsolidation. The company’s income, however, dipped to Rs 1,962 crore amid ongoing restructuring and settlement of major guarantor obligations for Vidarbha Industries Power Ltd
SBI Research has stated that a rate cut by the RBI is unlikely in February 2025 due to persistent inflation. While inflation is expected to ease slightly from January, it will mainly be driven by base effects, not a significant reduction in price pressures.
Bank of Baroda projects India’s GDP growth at 6.9 percent for Q2 FY25, citing strong domestic demand and positive economic indicators. The festive season and increased government spending are expected to support sustained growth, though inflationary pressures may affect future policy decisions.
A report by DSP Asset Managers warns that a combined sell-off by foreign investors and rising crude oil prices could put significant pressure on India's Balance of Payments, which may lead to economic instability.
The Sensex and Nifty gained in early trade on Tuesday, driven by value buying and sustained investments from domestic institutional investors. The rally followed optimism in the US markets.
Foreign portfolio investors (FPIs) have sold Rs 19,994 crore worth of Indian equities in the first five trading sessions of November, exacerbating market volatility and raising concerns over stability.
Sony Pictures Networks India has appointed Sibaji Biswas as its new CFO, effective January 2025. Biswas brings extensive experience from Syngene International and Vodafone, where he held several senior roles. He will lead SPNI’s financial strategy, ensuring operational efficiency and growth across its platforms.
Gold ETFs see record inflows in Asia, particularly in China and India, amid market volatility and high gold prices. Global gold demand rises, with strong investment from Asian markets.
Sony Pictures Networks India has appointed Sibaji Biswas as its new CFO, effective January 2025. Biswas brings extensive experience from Syngene International and Vodafone, where he held several senior roles. He will lead SPNI’s financial strategy, ensuring operational efficiency and growth across its platforms.
08 November,2024 02:26 PM IST | MumbaiGold ETFs see record inflows in Asia, particularly in China and India, amid market volatility and high gold prices. Global gold demand rises, with strong investment from Asian markets.
08 November,2024 02:20 PM IST | New DelhiAccording to a Phillip Capital report, India could gain from Trump’s higher tariffs on China despite challenges such as tougher immigration policies, as the “China+1” strategy opens new trade avenues for India.
08 November,2024 01:12 PM IST | New DelhiForeign institutional investors (FII) withdrew significant amounts from India on November 8, 2024, yet total FII investment for the year remains strong at USD 18.24 billion, according to an SBI report. The report highlights the country’s robust economic growth and market conditions amidst global challenges.
08 November,2024 11:48 AM IST | MumbaiThe Indian market is under pressure due to global rate cuts, capital outflows, and renewed volatility. Experts foresee continued caution amid uncertain global economic conditions.
08 November,2024 10:09 AM IST | MumbaiADVERTISEMENT
The US Federal Reserve reduced its policy rate by 25 basis points, shifting towards a more accommodative approach to support economic stability. The decision aligns with the Fed’s goals of sustainable growth, steady inflation, and maximum employment.
08 November,2024 08:52 AM IST | New Delhi
The Indian rupee dropped to a record low against the US dollar amid speculation of Donald Trump’s potential return to the White House, sparking concerns of increased US fiscal spending and rising Treasury yields. Experts highlight the impact on global currencies as the dollar rallies.
06 November,2024 12:42 PM IST | New Delhi
Raymond Lifestyle's Q2 FY25 profit fell by 69.72 percent to Rs 42.18 crore, while revenue declined 5.3 percent to Rs 1,708 crore due to weaker demand and higher inflationary pressures. The company expects recovery with festive season demand and retail expansion.
06 November,2024 11:18 AM IST | New Delhi
SBI projects India's GDP growth at 6.5 percent for Q2 FY25, with a positive outlook for the second half, potentially bringing annual growth closer to 7 percent. Rural demand is expected to drive recovery.
06 November,2024 11:12 AM IST | New Delhi
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The Union Budget 2024 was announced on 23rd July by Finance Minister Nirmala Sitharaman. While the budget touched upon varied sectors of priorities for the government, it has raised several questions for the middle class. Are the taxes simplified enough? Will the standard deductions given matter much? What should be the right approach to investing? In the episode of Money Matters, Certified Financial Planner and SEBI Registered Investment Advisor Kalpesh Ashar in conversation with Mid-day’s Katyayani Kapoor explains various aspects of personal finance related to this year’s budget. From the widening of the tax slabs, raising STT on F&O, and raising taxes on Capital Gains to the new pension scheme for minors, in this video Kalpesh Ashar busts the myth and explains how these reforms can impact you.
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