Aimed at the trinity of fiscal prudence, investment, and growth momentum, the Union Budget saw the introduction of employment incentives and a simplified income tax regime, which should boost consumption. Investors were, however, caught off guard due to the increase in LTCG and STCG tax rates, leading to a knee-jerk reaction on D-Street. “While the …
Indian stock market: Continuing their upward trend for the third consecutive session, Indian stock market benchmarks, the Sensex and the Nifty 50, reached new closing highs on Friday, June 7. Despite a sharp 6 percent drop on June 4, market benchmarks have shown solid gains so far in June. The Sensex has risen by about …
Stock Market News: Domestic equity benchmark indices, the Sensex and Nifty 50, lost direction during Monday’s trading session amid mixed global cues. Gains were pared after the benchmark Nifty 50 reached a new high at the opening, pulled down by a decline in metals due to worries over valuation. On Monday, BSE Sensex opened higher …
MUMBAI: State-owned banks were among the 25 most actively traded counters on NSE on Wednesday after Prime Minister Narendra Modi commended the performance of public sector enterprises in his speech in the Rajya Sabha. Seven PSU banks posted a combined turnover of ₹11,536.67 crore , accounting for 8.7% of the NSE’s total turnover of ₹1.33 …
Brokerage firm Kotak Institutional Equities, in its latest report, has raised the target price of State Bank of India (SBI) to ₹760, while maintaining the ‘buy’ tag. The brokerage firm has also named SBI as its most preferred stock in the PSU sector. “Given the relative strength of SBI as a franchise (demonstrated over the …
The Reserve Bank on Friday imposed penalties totalling ₹10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of ₹5 crore has been imposed on Citibank NA for non-compliance of norms. (REPRESENTATIVE PHOTO) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The highest penalty of ₹5 crore has been …
Mumbai: Tractor sales in India—a proxy for the well-being of the rural economy, dropped for the second month in a row from last year as uneven rains dented demand. Tractor makers also attributed the drop in sales to a high base effect catching on and a delayed festive period. Led by Diwali, which begins with …
MUMBAI: Tractor sales in India dropped for the second month in a row from last year as uneven rains dented demand. Tractor makers also attributed the drop in sales to a high base effect catching on and a delayed festive period. Led by Diwali, which begins with Dhanteras later this month, manufacturers expect sales momentum …
Indians are in love with SUVs, or sports utility vehicles, which were once the vehicles of choice for offroaders but have now evolved to urban vehicles. So much so, even office-goers prefer SUVs to hatchbacks or sedans. The new SUVs, which include the so-called compact SUVs, may have shed much of the functionality of SUVs …
NEW DELHI: It’s a tale of two Indias. When BMW launched the electric version of its entry-level SUV X1 late last month, tagged at `66.90 lakh (ex-showroom, Delhi), it got sold out within three hours of the launch. Similarly, Mercedes Benz sold all the 25 units of the `4-crore (ex-showroom) AMG G63 Grand Edition within …