India becoming 5th largest economy not a mean achievement: FM Nirmala Sitharaman
India has overtaken the UK to become the world’s fifth-largest economy and is now behind only the US, China, Japan and Germany, according to IMF projections. A decade back, India was ranked 11th among the large economies while the UK was at the fifth position.
Gross direct tax collections rise 35.46% y/y to touch Rs 6.48 lakh crore till September 8
“Direct Tax collection, net of refunds, stands at Rs. 5.29 lakh crore which is 30.17 % higher than the net collections for the corresponding period of last year. This collection is 37.24% of the total Budget estimates of Direct Taxes for FY 2022-23,” official data released on Friday said.
M-cap of BSE-listed firms hit fresh all-time high of Rs 283 lakh cr
“Although market pared gains, Sensex hitting the psychological 60,000-mark intra-day signifies investors’ faith in the domestic economy. While stock markets may look a bit pricey, India’s long-term growth potential does bring some stability at a time when the economic slowdown in key economies is staring at recession fears,” said Amol Athawale, Deputy Vice President – […]
Harsha Engineers trades at 60% premium in grey market ahead of IPO
Ahmedabad-based Harsha Engineers has five manufacturing facilities with two facilities at Changodar and one at Moraiya, near Ahmedabad in Gujarat, and one manufacturing unit each at Changshu (China) and Ghimbav Brasov (Romania).It claims to have a 50 per cent market share in the organised segment of the Indian bearing cages market and a 5.2 per […]
Tech View: Nifty forms bullish candle for 2nd week, but analysts see weakness ahead
“If this observation holds true, sooner than later, a downswing should unfold, with eventual targets present below 17,166 level, though confirmations are awaited in this regard. Nevertheless, to regain the upper hand, the bulls initially need a close above 17,992 levels and ultimately beyond 18,114 levels to decisively catapult the medium-term trend in their favour,” […]
Nykaa positioned for festive cheer; 31% upside likely, says this broker
Nykaa Fashion is only gaining market share slowly, it said, adding that Nykaa BPC will continue dominating the competitive landscape and display operating leverage. The brokerage has factored in a slightly lower than expected growth/margins in Fashion while it feels that Superstore business will also require investments over the near to medium term.
Equity mutual fund inflow at 10-month low, SIP contribution at record high
“Monthly SIP contribution, SIP AUM, SIP folios, overall mutual fund folios, and AUMs, all at an all-time high coupled with continued positive flows in most categories of mutual fund schemes, signify rising and informed investment preference towards mutual funds. Investors continue to stay fully invested and also adhere to goal-based investing,” said AMFI CEO N […]
Russia’s exclusion may pave way for India into global bond index
Morgan Stanley expects an announcement that India will be included in JPMorgan & Chase Co.’s emerging markets bond index as early as mid-September with the actual entry in the third quarter next year. Goldman Sachs Group Inc. sees that announcement coming in the fourth quarter this year and inclusion in the second or third quarter […]
FMCG stocks in sweet spot: BNP Paribas picks 3 stocks to buy
In the foods business, companies have implemented grammage cuts for biscuits as an increase in the cost of wheat weighed. Brands like Marie Gold, Milk Bikis, Krack Jack saw price hikes in the last two months, while price for Parle-G increased by 20% in the last six months. Reputed FMCG firm Nestle has also increased […]
These 5 stocks are witnessing consistent rise in price & volumes since 3 sessions
5 stocks from BSE500 pack are witnessing a steady rise in prices, trading volumes and delivery volumes since the last three sessions, suggesting higher investor interest in these scrips.