Too few people paying income tax a structural issue; what can be done to expand tax base? Mitali Nikore answers
Mitali Nikore discussed the structural issues in India’s tax system, highlighting that only the top 10% of income earners pay taxes. She emphasized the need for progressive taxation and suggested focusing on GST to expand the tax net. Nikore also called for reconsidering corporate and small business taxes to ensure broader revenue collection.
Will cement stocks continue to consolidate in medium term? Anand Tandon answers
But for the near term, at least for the next six months, the likelihood is that you will get a little better of margins than you have in the past and we are already seeing that in the current quarter estimates.
Q1 results today: ITC, Tata Motors among 88 companies will announce earnings on Thursday
Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.
SBI, Canara Bank to raise Rs 19,000 crore via bonds
State Bank of India (SBI) and Canara Bank planned to raise up to ₹19,000 crore via debt issuances in response to higher loan demand and slower deposit growth. SBI aimed for ₹15,000 crore through tier-2 bonds, while Canara Bank sought ₹4,000 crore through additional tier-1 bonds, following previous substantial bond issuances.
Adani Energy’s $1-billion QIP subscribed over 6 times
Duquesne Family Office, Driehaus Capital Management, and Jennison Associates have invested in Adani Energy Solutions’ $1-billion qualified institutional placement. This marked their first venture into Indian equities. The oversubscribed QIP, attracting over ₹50,000 crore, will fund capital expenditure, smart meters, debt repayment, and other corporate needs.
Brokers, SEs face tougher futures and options as Sebi bids to curb F&O frenzy
India’s stock brokers are preparing for tougher times as the Securities and Exchange Board of India proposed stricter norms for equity derivatives. This is expected to hit profitability for discount brokers such as Zerodha, Groww, and AngelOne. BSE rose by 6%, while NSE’s unlisted shares declined 10-12%. High impact expected for Zerodha, Angel One, and […]
Asian stocks rally on Fed cut hopes, Yen climbs: Markets wrap
Asian markets and US futures climbed Thursday amid growing anticipation that the Federal Reserve will soon lower interest rates. The yen strengthened, leading to a drop in Japanese stocks. The US 10-year yield dipped to 4.03%, fueled by geopolitical events between Iran and Israel, and a shift in Fed policymakers’ stance.
Tokyo stocks fall more than 2% in morning trade
Tokyo stocks dropped over three percent on Thursday morning, impacted by a rise in the yen following the Bank of Japan’s interest rate hike and the Federal Reserve’s indication of a potential rate cut later in the year.
Stocks in news: ITC, Tata Motors, Zomato, Adani Enterprises, Infosys
Markets experienced a slight uptick on Wednesday. Key companies such as ITC, Tata Motors, and Infosys will be under focus due to their quarterly results. Tata Steel and Coal India reported profit growths, while Infosys faces a GST investigation concerning Rs 32000 crore. Bank of Baroda and Sonata Software also posted their quarterly results.