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Last updated on 28 Jun,2024 05:05 AM
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Refresh- The train from Russia: How a new route can change things for IndiaA multimodal route that includes a railway, roadway network and seaports, the INSTC spans 7,200km (4,500 miles) from St. Petersburg to the port of Mumbai in India. The corridor is part of Russia’s push to find new transport routes in light of Western sanctions, which have forced it to shift trade flows from Europe to Asia and the Middle East.
- Isha Ambani's show-stopping fashion voyage at Anant Ambani and Radhika Merchant's pre-wedding celebrations.The pre-wedding festivities for Anant Ambani and Radhika Merchant, daughter of Viren Merchant, were a dazzling affair on a luxurious Mediterranean cruise, where Isha Ambani's fashion choices stole the show.
- People who don't drink coffee and sit for six or more hours a day have 60 percent higher risk of dying: StudyResearch underscores the stark contrast in mortality risks between coffee drinkers and non-drinkers engaging in prolonged sitting. Coffee consumption exhibits potential in reducing the risk of death, particularly for those with sedentary lifestyles. Further exploration into coffee's properties is warranted to unveil its full potential in mortality risk reduction.
- Section 80C deduction in Budget 2024: Will the government increase Section 80C limit under the old income tax regime in Budget?Section 80C deduction in Budget 2024: The 80C limit has not increased in line with many people's income and costs. Because of this gap, many taxpayers use the entire 80C limit. This is why many want this limit to be increased.
- NASA warns of potential planet-sized asteroid impact: There's 72% chance of Earth collision on this dateNASA's hypothetical exercise reveals a 72% chance of a potentially hazardous asteroid hitting Earth, highlighting gaps in Earth's preparedness. The exercise, attended by representatives from various agencies, assessed Earth's ability to respond to such threats. Key gaps include decision-making processes and readiness for space missions. NASA's DART mission confirmed the ability to change an asteroid's trajectory, and NEO Surveyor, launching in 2028, aims to discover hazardous objects early. This exercise underscores the importance of preparedness for potential asteroid impacts.
- Quant Mutual Fund had over Rs 9,000 crore cash pile to face redemption pressure after Sebi's investigationQuant Mutual Fund, in the midst of a front-running investigation, holds substantial cash reserves. Financial Radiance recommends against hasty liquidation, highlighting potential market opportunities for investors.
- Government considers ban on two antibioticsThe government is considering banning the production, import, and distribution of chloramphenicol and nitrofurans antibiotics used in food-producing animal rearing systems, due to misuse in poultry and animal feed supplements.
- Groww user alleges 'fraud', says app shows mutual fund investment but can't redeem, company denies; what are lessons for MF investors?Groww faces 'fraud' allegation: A customer's complaint against Groww, has sparked concerns over investment safety via execution-only platforms (EOPs). The investor alleged via social media that investments made through Groww could not be withdrawn despite the app showing them as invested. Groww responded, asserting no deduction occurred and the mutual fund transaction did not take place. The incident underscores broader worries among investors about data reliability on fintech apps. ET Wealth delves into the details surrounding the incident. What could mutual fund investors learn from this incident?
- Quant Mutual Fund schemes NAV falls after Sebi investigationThe markets regulator, Sebi, is investigating a suspected case of front-running involving Quant MF, which manages assets worth Rs 93,000 crore. This has raised concerns among numerous investors about the security of their investments.
- Yes Bank restructures workforce, lays off 500 employees in cost-cutting moveWhile the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months’ salary. “Yes Bank has launched an internal restructuring exercise at the advice of a multinational consultant. So far, around 500 have been asked to go and we can see more sackings in the coming weeks,” a person aware of the development said.
- Bosch: Legacy Season 3 - Release date, new cast, plot and behind the scenesAfter a successful second season, fans of Bosch: Legacy eagerly anticipate Season 3. The series' acclaim has secured its future, with Season 3 confirmed well before the conclusion of Season 2.
- Mukesh and Nita Ambani love street food: What is India's richest family's favourite food jointNita Ambani recently visited a chaat shop in Varanasi, where she enjoyed local delicacies and reflected on her husband Mukesh Ambani's love for street food. Her visit was part of a spiritual trip to offer prayers at the Kashi Vishwanath temple ahead of their son Anant Ambani's wedding. Nita mentioned that Mukesh would have loved the chaat, highlighting his fondness for Mumbai's Swati Snacks, a favorite among the Ambani family for generations.
- Apple supplier Foxconn rejects married women from India iPhone jobsA former human-resources executive at Foxconn India said the company's executives verbally convey the recruitment rules to its Indian hiring agencies, which Foxconn tasks with scouting for candidates, bringing them in for interviews and employing them.
- PPF, SCSS, Sukanya Samriddhi interest in July-September 2024: Will govt hike interest rates of PPF, small savings schemes for next quarter?PPF, SCSS, Sukanya Samriddhi interest in July-September 2024: The government is likely to announce the interest rates of Public Provident Fund (PPF), Senior Citizen Savings Schemes (SCSS), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Post Office Monthly Income Scheme (POMIS) and other small savings schemes for the July-September quarter 2024 by June 30, 2024. Will the government finally make PPF investors happy this time? Will Centre increase the interest rates of SCSS, NSC, Sukanya Samriddhi Yojana and other other small savings schemes for the July-September quarter 2024? Know what experts suggest
- Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffsThe EB-5 visa program provides stability, job creation, and a streamlined immigration process, making it a reliable alternative for those facing uncertainties in the tech industry. With a direct path to green card status and economic growth opportunities, EB-5 offers a secure pathway to permanent residency.
- As ACs start to sweat, cos plan machines the heat can't wiltAC makers innovate to meet high-temperature demands, balancing efficiency and performance. The push for models operating in extreme conditions reflects the industry's commitment to providing effective cooling solutions. With a focus on advanced technology and supply challenges, manufacturers aim to enhance consumer experience in a changing climate.
- Om Birla 2.0: NDA candidate elected as the Speaker of the 18th Lok SabhaOm Birla, the NDA candidate, was declared Lok Sabha Speaker on Wednesday after Prime Minister Narendra Modi moved a motion in his support. Birla, a three-time MP from Kota, Rajasthan, competed against Congress' K. Suresh, an eight-term MP from Mavelikara, Kerala. This marks the fourth contested Speaker election in Lok Sabha history.
- It's official: Indian politics now means Modi versus RahulDue to the BJP's deep traction among vast swathes of voter bases across the country for a decade, Rahul nearly doubling the tally of his party in the 2024 Lok Sabha elections must be counted as the coming of age of a leader whom many did not consider even a serious politician let alone a credible challenger to PM Modi.
- Amrut Distilleries wins "World's Best Whiskey" title at 2024 International Spirits ChallengeAmrut Distilleries from Bengaluru has made headlines by winning the esteemed title of "World's Best Whiskey" at the 2024 International Spirits Challenge in London. This accolade, part of a prestigious competition featuring top global whiskey brands, highlights Amrut's exceptional performance with five gold medals in the competitive "World Whisky Category." Led by its flagship single malt, Amrut Fusion, the distillery's success underscores India's growing prominence in the international spirits arena and its commitment to crafting whiskies of unparalleled quality and taste.
- Nasdaq ends higher on tech strength; Dow pulls backTech stocks like Nvidia led the market surge as investors awaited crucial inflation data. Retailers weighed down the Dow, but the S&P 500 rebounded. FedEx projected profit growth, while Carnival Corp raised its annual forecast. Spirit AeroSystems attracted attention amid acquisition talks with Boeing.
- Allied Blenders and Distillers IPO subscribed 1.51 times on Day 2. Check subscription, GMP and other detailsABDL's IPO involves a fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of 1.77 crore shares by promoters Bina Kishore Chhabria and Resham Chhabria Jeetendra. Funds raised will repay borrowings and fund corporate needs. The company's shares are trading with a GMP of Rs 87.
- AIF & PMS Conclave 2.0: Beyond buy-and-hold: Unveiling long & short term investment insightsSuccessful investing involves not only selecting the right stocks but also comprehending long-term market dynamics. Long-Short Funds capitalize on both upward and downward stock movements through long and short positions, providing a hedge against volatility and safeguarding portfolios in the long run.
- Hot Stocks: 3 stocks that may give returns between 16-33%Shivalik Bimetal Controls, Ethos, and PNB Housing Finance show promise with strategic initiatives for growth and margin sustenance despite challenges. Analysts recommend these stocks with potential upsides ranging from 16% to 33%.
- AIF & PMS Conclave 2.0: No permanent winners; past performance not a guarantee for future returns: Aashish Somaiyaa of WhiteOak MFAccording to his analysis, the WhiteOak CEO advised against investing in the top-performing funds of the past three years. He highlighted that the best-performing fund from 2009-2011 fell to rank 162 in 2012-2014, while the second-best dropped to 40, and the third-best to 38, illustrating the volatility and unpredictability of fund performance over time.
- Hyundai IPO: A chaebol looks at India to break out of a Korean trapJust as Indian stock markets are trading near record highs, Hyundai expects the listing of the equity shares in India "will enhance our visibility and brand image", and "provide liquidity and a public market" for the shares.
- Bandhan Employees' Welfare Trust to move court following allegation against Chandra Shekhar GhoshBandhan Employees' Welfare Trust, managed independently by employees, faces baseless allegations. Trust members seek explanations on financial matters, with legal action initiated against disruptors. The Trust aims to resolve disputes through legal channels for a fair outcome.
- From 'Turbo' to 'Nadikar': Top Malayalam OTT releases this week on Disney+ Hotstar, Netflix, Prime VideoWhether you're craving a quirky yet touching comedy about the pitfalls of fame or an adrenaline-fueled action spectacle, new Malayalam releases have something for every mood! Many of these films, which have made a significant impact at the box office, will soon be available for you to enjoy from the comfort of your home.
- Probe finds Byju’s failed investors but didn’t commit fraudByju's governance lapses led to financial troubles, legal battles, and Raveendran's efforts to innovate and manage debts for the ed-tech company's survival.
- Why investors should not panic or stop SIP in Quant Mutual Fund after front-running crisisExperts advise staying invested in Quant Mutual Fund despite short-term NAV fluctuations and regulatory investigations. Monitoring the situation closely and being prepared for potential impacts is recommended for long-term investment goals.
- Company to grow at a CAGR of 22% to reach $ 1 billion by 2031: Venkatraman Narayanan, Happiest MindsFrom here, you will have to essentially again build on the base of the organic muscle that we have and we will also have to add on a couple of acquisitions as we navigate this growth towards 2031 and a billion dollar dream. So, that is where we are.
- Indian diaspora sends home over $100 billion for second year in a rowMy 2023-24 remittances were influenced by migration trends, job opportunities, and costs, with the US as the primary source. India remained the top recipient, fueled by IT professionals moving to North America and Europe.
- Lok Sabha Speaker's post: Why the INDIA bloc is forcing a contest, what it meansLok Sabha Speaker poll: Even before the actual term of the 18 Lok Sabha begins, there seems to political rifts galore. The first jarring note turned out to be the deep disagreement about the Speaker post, which eventually led to an election -- a rare event in Indian Parliamentary history.
- Quant Mutual Fund investors withdraw Rs 1,400 crore in 3 days. Should you stop fresh investments, SIPs?The client withdrawals are among the first indicators of the probe’s impact. The Securities and Exchange Board of India is reviewing alleged front-running trades by Quant Mutual Fund employees, Bloomberg News reported earlier this week, citing people familiar with the matter.
- Bihar government cancels contracts worth Rs 826 crore awarded during 'Mahagathbandhan' regimeThe NDA government in Bihar has cancelled 350 contracts worth Rs 826 crore awarded during the previous RJD-led 'Mahagathbandhan' government due to irregularities in selecting contractors for rural water supply projects. The Public Health Engineering Department uncovered discrepancies and initiated a thorough probe. RJD leaders criticised the cancellations, claiming the NDA is intimidated by the success of the previous government's welfare initiatives.
- India starts preparing for a China-like population problemFalling fertility rates have left India staring at the spectre of looming demographic challenges that have caused big problems for other Asian powerhouses such as China and Japan. The government is now beginning to plan for an aging India which could be a reality within a decade or two.
- Devgad's mango farmers save Aam & Janata with techDevgad mango growers in Maharashtra's Konkan region have faced challenges with maintaining the authenticity of their premium hapus (alphonso) mangoes due to adulteration by cheaper varieties. To combat this, they have adopted a new technology-driven solution involving unique stickers on each mango. These stickers reveal a code when partially peeled, which consumers can verify for authenticity by sending a photo to the farmer's cooperative.
- Brokerage View: Chemical stocks ripe for fresh up-cycle“These stocks have either reversed from a long-term support or made a multiyear breakout retest which make them quite safe as compared to the stocks which are witnessing a breakout which can fail if the markets correct,” said InCred’s VP, Gaurav Bissa, in a client note.
- 9 smallcap stocks that connect Mukul Agrawal, Vijay Kedia, Ashish Kacholia & Dolly KhannaThe smallcap stocks held by renowned investors like Mukul Agrawal, Vijay Kedia, and Dolly Khanna have displayed varying performance levels over the past year. These investments in companies such as Neuland Laboratories, Prakash Industries, and Shankara Building Products have been closely monitored for their profitability and stability.
- India says rising solar cell output will curb imports from ChinaIn a bid to wean itself off Chinese imports, India has levied taxes on some solar components and introduced a so-called approved list of models and manufacturers, a non-tariff trade barrier that’s essentially meant to keep foreign shipments out.
- Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
- In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev SanyalThere are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
- Highway tolls shouldn't be charged for pothole-filled or muddy roads, Nitin Gadkari tells highway agenciesUnion Road Transport Minister Nitin Gadkari emphasized that highway agencies should not charge tolls for poorly maintained roads. Speaking at a global workshop on satellite-based tolling, he stressed that good services must precede toll collection. Gadkari addressed the inefficiencies and long wait times at toll plazas, promoting a GNSS-based toll collection system to enhance transparency and efficiency, reducing logistics costs and benefiting users.
- Income tax relief: Budget 2024 may increase standard deduction under new income tax regimeWill Budget 2024 increase standard deduction: The Finance Minister in the 2023 Budget included a standard deduction of Rs 50,000 for salaried taxpayers and individuals getting pensions in the new tax regime. This standard deduction was made the automatic choice, unless taxpayers chose not to take it.
- Makeover likely to give faceless I-T assessment a friendlier face"It is being reviewed to assess effectiveness," said an official, adding that there is a line of thinking that it should be made optional for taxpayers. Another official said the idea is to address challenges in its implementation to ease compliance further for taxpayers. A final call will be taken shortly, the official said. The scheme was introduced on April 1, 2021, to reduce the human interface in tax disputes and assessments.
- Ousted in Rs 12,000 crore bid to supply Carbines to Indian Army, alleges vendorA vendor of an Indo-Russian company in Amethi has filed a petition in Delhi HC over an unfair ouster from a bidding process for a ₹12,000-crore contract to supply close-quarter battle carbines to the Indian Army.
- Delhi Water Minister Atishi's hunger strike ends after hospitalisation; doc says 'condition stable'Delhi Water Crisis: AAP leader Atishi's indefinite hunger strike over the Delhi water crisis has ended after her hospitalisation due to deteriorating health. Doctors advised her admission after her blood sugar and pressure dropped significantly. Atishi vowed to continue until Haryana releases Delhi's rightful water share. The crisis, with a daily shortfall of 100 MGD, has affected 28 lakh Delhiites, leading to reliance on water tankers amid soaring temperatures.
- 5G spectrum auctions: Bharti Airtel likely largest bidder, govt mops up around Rs 11,300 croreIndia's second 5G spectrum auction concluded around Wednesday noon after seven rounds, lasting just over a day, with the government collecting approximately Rs 11,300 crore. Bharti Airtel is likely the largest bidder, acquiring airwaves in the sub-GHz 900 MHz band as well as in the 1800 and 2100 MHz bands. Market leader Reliance Jio likely bought 5G bandwidth in the 1800 MHz band.
- Are FIIs getting into a big buy mode in India? Dipan Mehta answersOn days of positive FII flows largecap stocks will do exceptionally well because those are the ones that they really are targeting and if FII buying, even FII selling, stops in some of the largecap index stocks, local money will ensure that the stock prices move up, says Dipan Mehta
- Budget 2024 HRA Exemption: Will Bengaluru, Hyderabad, other non-metro cities be included in 50% HRA tax exemption list?Budget 2024 HRA Exemption: Many employers offer an HRA as part of their employees' compensation. If an employee receiving HRA is paying rent for their accommodation, they can claim a tax exemption on the HRA. Currently, a rented house in Delhi, Mumbai, Kolkata, and Chennai qualifies for a 50% exemption from HRA, while those located in other places come under the 40% bracket.
- HPCL, ONGC, GSPL only pockets of value in oil & gas sector: Motilal OswalHPCL, ONGC and Gujarat State Petronet (GSPL) are the only stocks with value in the Indian oil and gas sector, domestic brokerage firm Motilal Oswal stated in its report, noting that value trade has faded away in the sector.
