FY24 excise duty collection target may be cut by Rs 45,000 crore
The Indian government may lower its excise duty collection target for fiscal year 2024 by ₹45,000 crore if crude oil prices remain high, according to sources. However, this revision is not expected to affect overall revenue as other resources can compensate for the shortfall. The final decision on any reduction will be made at the […]
Work demand under rural jobs scheme rises in H1
About 93% of the FY24 budgetary allocation of ₹60,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has been released, a person familiar with the details told ET. This has prompted the rural development ministry to seek “substantial” supplementary demands for funds to run the scheme throughout this fiscal year, he said.
RBI likely to maintain status quo on benchmark interest rate: Experts
Experts predict that the Reserve Bank of India (RBI) will maintain the current benchmark interest rate at its bi-monthly monetary policy review due to elevated inflation and global factors. The RBI has kept the rate unchanged in the last three policy reviews and is expected to continue with the existing rate structure. The RBI’s mandate […]
As Nifty trades at make-or-break level, will RBI Das play the good or bad cop for D-Street?
The market correction had nothing to do with the monetary policy, and was rather a reflection of the weak global sentiment.
Drought roils crops in 42 lakh hectares in Karnataka worth Rs 30,433 crore
The deficit rainfall in Karnataka has caused crop losses in 42 lakh hectares, worth about Rs 30,433 crore, during the six-month kharif season. The drought has affected agricultural and horticultural crops, leading to a 28% rainfall deficit and the third lowest rainfall in the state since 1973. This has resulted in farmers being unable to […]
Nifty forms Bullish Island Reversal pattern. What traders should do next
The broader negative chart pattern like lower tops and bottoms is intact as per the daily timeframe chart and further upside from here could open chances of new lower top formation. The display of further strength in the current upside bounce could possibly pull the Nifty towards 19,726 levels
Indian Overseas Bank saw its market capitalization nearly double during July-Sep quarter
HDFC Bank, which merged with its housing finance parent Housing Development Finance Corp. Ltd. on July 1, remained the biggest Indian bank by market capitalization.The market cap of the combined company grew 21.63 per cent in the third quarter.
Plaza Wires IPO subscribed massive 100 times so far; retail portion booked 300 times
Analysts advised investors to subscribe to the issue on the company’s competitive strengths which include a product portfolio focused on various customer segments, a distribution network, experienced management, and a dedicated employee base.
Mankind, HUL among 6 top stock ideas from Kotak Securities for up to 24% returns
According to Kotak Securities banks and financials continue to remain exceptions as they trade at relatively reasonable levels. One should follow a stock-specific approach based on the fundamental merits of the stock, the brokerage said.
Multibagger screener: 13 stocks trading below 5-year average PE. More steam left?
The PE of aerospace and defence player Zen Technologies, which makes military training live-range equipment and anti-drone systems, has fallen from an average of 225 to 76.6. HDFC Securities said that given a large order inflow and revenue visibility for the next few years, some more rerating is possible in the stock.