S&P sees growth crossing 6% on domestic uptick, private capex
Earlier this week, S&P retained its forecast for India’s economic growth at 6% for FY24 and 6.9% for the subsequent two years. “The risks are fairly balanced, especially on growth. In fact, growth could come in higher given that the domestic economy remains fairly strong,” Rana stated, pointing out that the external environment and inflation […]
Google, Facebook, Edtech companies may have to pay up to 18% IGST
As per a notification issued by the Central Board of Indirect Taxes and Customs these services will no longer be exempted from integrated goods and services Tax (IGST). “This will cover overseas companies providing advertising, cloud services, music, subscriptions based service, online education and even information to all individuals and government irrespective of whether it […]
Breakout Stocks: How HUDCO, Thermax and Indian Bank are looking on charts for Thursday’s trade
Stocks that were in focus include names like HUDCO which was up more than 3%, Thermax closed with gains of over 2% to hit a fresh lifetime high and Indian Bank pared gains and closed with gains of nearly 1% on Wednesday. All stocks hit a fresh all-time high.
IT poised for rebound post 2-3 weak quarters, says Mahesh Patil
“India offers the best kind of market where one could see that runway of growth lasting for many years. That is what will draw global investment. This month till date, the FII outflows have been negative. That trend can continue for some time but long-term money would look to buy into the dips.”
Government exempts IGST on ocean freight from October 1
KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court’s ruling in the case of Mohit Minerals and help explicitly mention the government’s alignment to the position. “While this has been issued prospectively, the industry has been seeking and successfully claiming refund of taxes already paid for […]
Tech View: Nifty gives signs of pullback but clear breakout awaited. What traders should do on Thursday
For the traders now, 19630 would act as a key support level. Above which, the market could continue the positive momentum till 19800-19825. On the flip side, below 19630 uptrend would be vulnerable, said Shrikant Chouhan of Kotak Securities
Sarkar Raj is here! 3 out of top 5 dominating sectors of Q2 are from PSUs
Nifty PSU Bank is in fact on the verge of a 13-year breakout to touch fresh lifetime highs on the back of good system-wide credit growth, stable asset quality, and attractive valuations. In between, Nifty Bank, which is dominated by HDFC Bank and ICICI Bank, is flat while the bluechip index Nifty has gained just […]
Gift Nifty sets record single day turnover of $15.25 billion
Gift Nifty is a dollar-denominated futures contract based on the Nifty 50 index and is traded on the NSE IX, an international multi-assets exchange set up at GIFT City.
India will sell 50-year bonds for the first time on growing insurer demand
The nation’s burgeoning life insurance and pension fund industries, driven by an expanding middle class, are changing the landscape for India’s $1 trillion sovereign debt market. The sale reflects their growing heft, and helps Prime Minister Narendra Modi’s government reduce its reliance on purchases by banks to fund record borrowings.
Khadim India board to consider demerger of distribution biz into KSR Footwear;
On a year-to-date basis, the stock has delivered 15% returns to investors. Axis Securities has a buy call on the stock with an upside of Rs 291-310 levels and the holding period is three to four weeks.