NET IMPORTERS
Midcaps stocks: Bullish, Selective, Long term, combined the three for wealth creation. 5 mid caps stocks with upside potential of upto 22 %
In a market where bulls are ruling every corner of the street, and stocks are either fairly valued or overvalued. The big question is how does one take care of the basic aspect of buying good quality stocks at reasonable valuations. While in this market reasonable valuation might be difficult to find so it would be better to focus on finding quality business knowing full well that one is paying premium in bullish times. Just do a little hard work and ask some questions about the business one is going to be owning after one buys the stock. Doing all this will help in selecting the right stock and staying with them in order to create long term wealth.
India steel, trade ministries in talks over rising Chinese imports
India's steel and trade ministries are discussing the increasing imports of steel, especially the influx of cheap Chinese goods, according to a government source. The talks come amid ongoing requests from top producers for higher tariffs. India became a net steel importer in the fiscal year ending in March, with finished steel imports reaching a five-year high in April and May, based on provisional government data.
ITR e-verification: How to e-verify ITR, timelimit, other important FAQs
The ITR is deemed invalid or will not be regarded as filed if the assessee does not validate it within the allotted period. e-Verification is the most convenient and instant way to verify your ITR.
Narrowing trade deficit, rise in remittances aid current account surplus: CRISIL
Financial flows also increased leading to accretion in foreign exchange reserves during the fourth quarter amounting to USD 30.8 billion, it said. The country's foreign reserves, as of June 14, 2024, stood at USD 652.9 billion. The report said even though the FDI inflows continued, there has also been a rise in outward FDI, leading to a reduction in net flows, the report said.
Industry pitches for tax reduction, rationalisation of duty structure in Budget
During a pre-budget meeting with Finance Minister Nirmala Sitharaman, industry representatives urged for reduced indirect taxes and rationalized duty structures. FIEO's Ashwani Kumar requested extending the Interest Equalisation Scheme for five years. Reliance Industries sought a review of tariffs on Chinese imports, and Nasscom pushed for easing transfer pricing rules.
Govt introduces tough measures to tackle exam malpractice; New anti-paper leak law and other details explained
The Indian government has introduced the Public Examinations (Prevention of Unfair Means) Act, 2024, to address paper leaks and cheating in public exams. The law enforces strict penalties, including imprisonment and heavy fines, for offenders. Recent issues with the NEET and UGC-NET exams underscore the need for such measures. The NTA's postponement of the CSIR UGC NET exam further highlights the ongoing challenges in maintaining exam integrity.
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Cancellation of NEET-PG, UGC-NET "final nails" on an incompetent system, says Stalin
Tamil Nadu CM M K Stalin criticizes cancellation of NEET-PG and UGC-NET exams, emphasizing the need for a fair selection process. The Union Health Ministry postpones NEET-PG exam due to integrity concerns.
Rupee falls to record low hurt by likely outflows, importer dollar demand
The currency fell to a record low of 83.6650 against the U.S. dollar in the latter half of Thursday's trading session, closing at 83.6425. This marks a decline from the previous session's close of 83.4550. Traders attributed the currency's weakness to a broadly stronger dollar and a weakening Chinese yuan, which exerted additional pressure on the Indian currency throughout the day.
Domestic demand for steel soars in India, country turns net importer in FY24: CRISIL Report
India has shifted from being a net exporter to a net importer of steel in fiscal 2024, with a trade deficit of 1.1 million tonnes. Surging domestic demand led to increased imports from China, South Korea, Japan, and Vietnam. Despite a rise in exports, India faces challenges from Chinese competition. Strong domestic demand and production growth indicate positive prospects for the Indian steel industry. Strategic adjustments are needed to manage imports and maintain export competitiveness.
Women are taking stock: As more women enter the high-net-worth category, their investment choices are also changing
Deepika Gehani, the cofounder of Genesis Luxury, represents the trend of affluent Indian women shifting towards equity investments. Nupur Garg, founder of Winpe, shares a similar sentiment on increasing risk appetite with growing wealth. The survey by Waterfield Advisors highlights women's interest in equity investments, with a focus on financial literacy emphasized by Priti Rathi Gupta. Anuj Kapoor from JM Financial Services notes the active role of female UHNIs in wealth management, while Devna Shah and Suhasini Sampath provide insights on equity and real estate investments.
UGC NET 2024 exam admit cards released by NTA: How to download, direct link, and other details
The National Testing Agency (NTA) is set to conduct the UGC-NET June 2024 exam on June 18. The exam, crucial for candidates aspiring for the Junior Research Fellowship, Assistant Professor positions, or admission to Ph.D. programs, will be conducted in OMR (Pen and Paper) mode across 83 subjects.
India's May outbound shipments at 3-month high; trade gap at 7-month record
Terming May as an “excellent” month for exports, commerce secretary Sunil Barthwal said that the situation was looking more optimistic for trade this year, with even sectors such as textiles recording healthy growth after months of sluggishness.
Low domestic demand, Chinese dumping depress steel prices
Besides these, sustained Chinese steel output is also eating into India's share of metal exports to Vietnam and the United Arab Emirates (UAE). These are the two most prominent destinations for Indian steel products after the European Union.
India wants to increase domestic coal production, reduce imports, coal minister says
India aims to reduce coal imports and boost domestic production, according to Federal Coal Minister G. Kishan Reddy. The country, a major coal consumer, imported 176 million tons of thermal coal in 2023. Import levels are projected to drop below 160 million tons in 2024. The government's shift towards green energy aligns with Prime Minister Narendra Modi's plan to reach net zero emissions by 2070.
India's April-May steel imports hit five-year high on buoyant domestic demand
The surge in imports has raised concerns among Indian steel mills, prompting calls for government intervention and safeguard measures. However, the Ministry of Steel has refrained from such actions, emphasizing the strong local demand for steel. Notably, China and South Korea emerged as top exporters of steel to India in recent months, with Indian steel producers like Tata Steel expressing apprehensions about the growing influx of Chinese imports.
Is the NAV important while selecting a scheme?
The NAV represents a fund’s per unit market value. This is the price at which investors are allotted units by the fund house or the price at which they can sell it back to the fund house. This is calculated by dividing the total value of all the assets in a portfolio, minus all its liabilities.
Rupee opens flat against US dollar in early trade
The rupee is expected to swing within a range of 82.90 to 83.70, influenced by Foreign Institutional Investors, capital markets, and anticipated inflows like Reliance Infrastructure raising USD 350 million.
CBIC clarifies on display assembly of mobile phones for levy of 10 pc import duty
CBIC lists parts of mobile phone display assembly attracting 10% import duty. Concessional 10% customs duty on integrated display assembly. Circular by CBIC imposes 10% BCD on display assembly for cellular mobile phone manufacturing.
Refined Russian petro goods imports rise 14% in May
India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
Icra revises domestic steel demand growth rate to 10 pc for FY25
ICRA revises FY2025 steel demand growth to 9-10% due to strong government spending and sector demand, leading to increased earnings and India remaining a net steel importer in the current fiscal.
GST collection in May moderates from record high to Rs 1.73 lakh crore
In May, the Centre collected Rs 1.73 lakh crore in GST, a 10% annual increase. This is down from April's record Rs 2.1 lakh crore. The growth stemmed from a 15.3% rise in domestic transactions and a 4.3% decline in imports. Net GST revenue, after refunds, was Rs 1.44 lakh crore.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
ONGC to form an equal JV with EverEnviro to build 10 CBG plants
Oil and Natural Gas Corp (ONGC) and EverEnviro Resource Management Pvt Ltd are joining forces to construct 10 compressed biogas (CBG) plants, leveraging various feedstocks to reduce CO2 emissions by 7.5 lakh tons annually. ONGC, transitioning into the renewables sector, plans to establish solar, wind, and biofuel facilities alongside acquiring renewable projects. This strategic partnership signifies a pivotal step towards advancing renewable energy production in India.
Rupee sees worst day in 7 weeks on importers' dollar demand, election risk
The Indian rupee logged its biggest daily decline against the U.S. dollar in nearly seven weeks on Wednesday, pressured by persistent dollar demand from importers and election-related risks.
Rupee slips on importer dollar demand, forward premiums inch up
The dollar index slipped below the 104.5 mark, extending its losses from Monday, while most Asian currencies ticked up, with the Korean won up 0.4% and leading gains.
Of more import than just a port
If seen without ideological baggage, the development of Chabahar on Iran's coast as a trading hub is a net positive not only for India and Iran but also for Afghanistan and landlocked Central Asian countries. More trade means more stability as governments develop stakes, and Chabahar - meaning 'four springs' in Farsi - lives up to its name.
Keeping close watch on steel imports: SAIL Chairman Amarendu Prakash
India's largest steel player, SAIL, is closely monitoring steel imports amid concerns over China's heavy tariffs on electric vehicles, batteries, steel, solar cells, and aluminium. India reported a 38% surge in steel imports to 8.319 million tonnes in 2023-24, becoming a net importer. Steelmakers are seeking government intervention and domestic players are demanding a curb on imports and review of free trade agreements.
'US-China trade war escalation may lead to dumping of goods in India': GTRI
The US on Tuesday reignited the trade war with China by announcing a series of proposed tariff increases on imports including electric vehicles (EVs), batteries, and various other goods.
'Govt and industry should work together to reduce import dependence in Medtech sector'
India's MedTech industry is poised for an exponential growth, set to reach USD 50 bn by 2030 from the current USD 14 billion.
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