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Day: July 25, 2022

Trust-based taxation system resulting in improved collections: FM Nirmala Sitharaman

In her message on the 163rd Income Tax Day, the finance minister complimented the department for achieving the highest-ever revenue collection of over Rs 14 lakh crore in the last fiscal and expressed hope that the momentum would continue in the current fiscal too.

Kerala-Centre face-off on GST: State FM Balagopal says no tax should be levied on common man’s items

Days after Sitharaman mentioned that Opposition-ruled states had given their nod for imposing 5 per cent GST on certain unbranded packaged food items, Balagopal, a senior leader of Kerala’s ruling Left front, said it was only a “technical claim”.

Retail inflation for farm, rural workers rise to 6.43 per cent and 6.76 per cent in June

The major contribution towards the rise in general index of Agricultural Labourers and Rural Labourers came from food group to the extent of 3.69 & 3.79 points respectively mainly due to increase in prices of rice, wheat-atta, jowar, maize, milk, meat-goat, fish fresh, poultry, chillies dry, mixed spices, vegetables & fruits, etc.

Tech View: Nifty50 forms bearish candle; index may see consolidation ahead

The negative candle had a minor upper and lower shadow. Technically, such a candle indicates a completion of recent uptrend and a beginning of short term downward correction from the high according to Nagaraj Shetti of HDFC Securities.

Bottom fishing? Down 75% from IPO price, Dolly Khanna picked stake in this small finance bank in Q1

According to the latest shareholding data, Dolly Khanna held 12,27,986 equity shares or a 1.16 per cent stake in the small finance bank as of June 30, 2022. Her stake in the lender is worth Rs 9.8 crore.Her name was missing from the list of top shareholders in the March quarter. All listed entities are […]

Up over 15% in 5 days, is this Nifty bank stock on track for a major re-rating?

Domestic brokerage ICICI Securities, which is among the most bullish on the bluechip stock, is impressed by IndusInd’s NII (net interest income) growth of 16 per cent year-on-year (YoY) and stable NIMs (net interest margins) of 4.21 per cent.

Stock Recos: HDFC | Axis Bank | UltraTech | Voltas | Kotak Bank | ICICI Bank | RIL | Coforge | Persistent |

FII money will come back much sooner than Fed’s timeline for unwinding. Not only it will be sooner, but it will be much larger than what went out. This is one reason why some seasoned investors are expecting a melt-up (bull-run) for Indian markets next year (2023).

Chart Check: This IT stock in bear grip gave a breakout above 50-DMA; time to buy?

On the weekly charts of LTTS, we can spot prices that have shown a bounce back from the level of 61.8 per cent Fibonacci retracement of the prior advance from Rs 986 (March 2020) to Rs 5,955.50 (January 2022). “On the daily timeframe, we witnessed a breakout from the inverse head and shoulder pattern on […]

RIL Q1 disappoints D-Street. Here’s what analysts are saying on the stock now

Post quarterly results, the consensus target on the scrip stays at Rs 2,881, similar to Rs 2,880 before earnings, with 80 per cent of recommendations suggesting a buy, 13 per cent hold and 7 per cent sell on the stock. The target suggests a potential 20 per cent upside for the stock.

CAG to assess impact of old pension scheme on finances

The CAG has also started work on a comprehensive account of natural resources in the country that will aid policymakers in planning their sustainable utilisation.

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