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Event prediction markets like Kalshi and Polymarket are buzzing in America: Should India allow them too?
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Let the Bitcoin bubble deflate: It’s time to tokenize assets that hold intrinsic value
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The great crypto reckoning: Wake up and get real about this class of pseudo assets
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What lies ahead for Altcoins: Looking at the future of diversified portfolios
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12.12 / 05:59
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35-years, a typo, Rs 2 lakh cr liabilities: How a string of court judgements hit India’s mining sector
Supreme Court ruling that sought to address an issue that has been lingering for 35-years is now threatening to cripple India’s mining sector. According to the judgement, states now have the right to tax mineral lands and tax mining companies retrospectively. Stakeholders say this will put a heavy financial burden on the industry, affecting investment plans and overall economic stability of the segment. How the case started and progressed The issue has its roots in the Mines and Minerals (Development and Regulation) Act, 1957, which gave the Union government the power to regulate mines and minerals and the power to collect royalties from mining leaseholders. In 1963, the Tamil Nadu government gave a mining lease to India Cements. Later, it imposed a cess on the royalty, which the company challenged in the high court later in the Supreme Court. In 1989, a seven-judge bench of the apex court ruled in favour of India Cements. “… we are of the opinion that royalty is a tax, and as such a cess on royalty being a tax on royalty, is beyond the competence of the State Legislature…,” said the verdict.
12.12 / 05:49
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Woman worked abroad for 7 years but after returning to India forced to quit 4 jobs in 2 years. What went wrong?
In her first job, according to her, she said that faced an abusive boss, prompting her to leave within six months. The second job demanded excessively long hours, with workdays stretching to 17-18 hours. Unable to cope with the mental and physical strain, she resigned after just three months. The third job proved no better, as the organization’s head blatantly discouraged hiring women, citing biases related to family responsibilities. After nine months, she chose to leave. Her fourth job appeared promising, offering a work-from-home arrangement. However, once she joined, the company reneged on this promise, requiring her to commute over 100 kilometers daily. Disheartened by this breach of trust, she left within two months. Adding to her frustration, she frequently encountered invasive interview questions about her personal life and family plans, making her job search even more daunting.
12.12 / 05:49
12.12 / 05:49
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Share price of HDFC AMC as Nifty
HDFC Asset Management Company Ltd. 0.26 per cent to Rs 4554.90 in Thursday's trade as of 11:00AM (IST). The stock hit a high price of Rs 4579.80 and low of Rs 4524.45 during the session.
12.12 / 05:49
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Tax refunds up by 46.31% to Rs 3.08 lakh crore in FY 2024-25: Finance Ministry
Finance Ministry announced on Thursday a significant improvement in the issuance of tax refunds for the financial year 2024-25. Between April 1 and November 27 this year refunds amounting to Rs 3.08 lakh crore were issued, marking a 46.31 per cent increase compared to the same period in 2023. It also stated that at its peak this year the Income Tax Return portal handled more than 900 filings in a second and nearly 70 lakh ITRs (Income Tax Returns) in a day. This year more than 1.62 crore ITRs were processed in a single day for A.Y. 2024-25.
12.12 / 05:49
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Be selective in PSUs, cement; gung-ho on 3 steel stocks: Hemang Jani
Hemang Jani, Independent Market Expert, says among PSUs, Bharat Electronics and HAL have reported strong financial results, making them attractive investment options, along with select power companies like NTPC, especially after its recent demerger and the launch of the NTPC Green IPO, showcasing its renewable energy potential. While one can remain optimistic, a discerning approach is crucial when evaluating public sector undertakings. Investors should target niche, selective companies in this sector. Among steel stocks, Jani holds Tata Steel in high regard, but believes certain pallet players like Godawari Power are better positioned due to improving spreads. Additionally, Jindal Steel & Power's efficient captive unit for raw materials may offer a more attractive investment opportunity. From the end of last year till middle of this year, the PSU sector, be it defence, railways, infra or power names – had been the most buzzing segment. But that rally had fizzled out in the latter half of this year. What is your take on PSUs. A lot of people are hoping that there will be a rebound in the government spending come H2 of FY25 and PSUs will revive? Hemang Jani: Yes, some of these companies which have corrected quite sharply in the past two months are showing a good rebound and it is not just the stock price rebound.
12.12 / 05:49
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Nvidia steps up hiring in China to focus on AI-driven cars: reports
autonomous driving technologies, Bloomberg News reported on Wednesday. Over the past couple of years, it has expanded in the country to now have close to 600 people in Beijing, and it recently opened a new office in the Zhongguancun tech hub, the report said, citing people familiar with the matter. The artificial intelligence chipmaker employed about 29,600 people in 36 countries at the end of fiscal year 2024, according to a filing published by Nvidia in February.
12.12 / 05:49
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Stock market update: Nifty Bank index 0.01% in a weak market
IndusInd Bank Ltd.(up 1.32 per cent), Au Small Finance Bank Ltd.(up 0.67 per cent), ICICI Bank Ltd.(up 0.65 per cent), Axis Bank Ltd.(up 0.39 per cent) and Federal Bank Ltd.(up 0.08 per cent) were among the top gainers.
12.12 / 05:49
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Sensex falls! These stocks are down 5% or more on BSE
On the BSE, The Phosphate Co.(down 14.94 per cent), AMIC Forging(down 10.00 per cent), Gconnect Logitech(down 10.00 per cent), Chemo Pharma(down 9.78 per cent) and EP Biocomposites(down 9.20 per cent) were among the stocks that plunged over 5 per cent during the session.
12.12 / 05:49
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Bitcoin reclaims $100k mark on Fed rate cut hopes; Sui, Chainlink surge over 24%
Bitcoin surged past the $100,000 mark on Thursday after an as-expected reading of U.S. consumer inflation cemented bets for a Federal Reserve interest-rate cut next week. The U.S. consumer price index (CPI) rose 0.3% month-on-month and 2.7% year-on-year in November, aligning with expectations. This boosted the probability of a 25-basis-point rate cut to 99%, up from 89% a day earlier, as per CME FedWatch.
12.12 / 05:49
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Temporary slowdown could give way to broader market growth: Mahesh Patil
«I would say that the broader trend for the market still looks up because one would believe that the slowdown what we are seeing is temporary cyclical slowdown, to some extent impacted because of the government spending in the first half has been weaker because of elections and it took time for the ministries to be formed so that is now gaining momentum,» says Mahesh Patil, CIO, Aditya Birla Sun Life AMC. It has been pretty much more of the same, this phase of consolidation that is kicking in. Do you believe that the undertone of the market is still looking bullish and that, yes, there may be speed bumps along the way, but by and large, we are okay? Mahesh Patil: We have seen the momentum clearly has kind of broken down what we saw earlier. And not only the market it is more to do with the earnings momentum. So, the strong earnings growth what we saw in the last three years until FY24, so that in the last two quarters has kind of slowed down and for the first time we have seen downgrades to earnings after the second quarter and the first quarter numbers. So, clearly there is some bit of a slowdown and that is leading to a sluggishness or even for the matter we have seen that the market breadth also has weakened quite a bit. Now that is kind of coming back.
12.12 / 05:35
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China comes out swinging as Trump trade war looms
Subscribe to enjoy similar stories. During Donald Trump ’s first administration, China learned that it couldn’t match the much larger U.S. economy’s tit-for-tat when it came to tariffs, and quickly found other ways to try to inflict pain—often by borrowing from his playbook.
12.12 / 05:35
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India must shift its policy focus to address the demand deficiency that ails its economy.
Subscribe to enjoy similar stories. Two key pieces of economic data released last month have rung alarm bells on the state of India’s economy. The first was on retail inflation, which breached the 6% upper tolerance limit in October, climbing to 6.21%, the highest since August 2023.
12.12 / 05:35
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Hamas concedes on Israeli troops in Gaza, raising hopes for hostage deal
Subscribe to enjoy similar stories. Hamas has yielded to two of Israel’s key demands for a cease-fire deal in Gaza, Arab mediators said, raising hopes of an agreement that could release some hostages within days despite the repeated collapse of previous negotiations. The militant group told mediators for the first time that it would agree to a deal that would allow Israeli forces to remain in Gaza temporarily when the fighting stops.
12.12 / 05:13
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Share price of Tata Elxsi as Sensex drops 15.62 points
Tata Elxsi Ltd. 0.41 per cent to Rs 7376.25 at 10:35AM (IST) in Thursday's trade. The counter has hit a high of Rs 7448.75 and low of Rs 7370.00 so far during the session. The stock had closed at Rs 7345.95 in the previous session. The counter has had a total traded volume of 2761 shares so far with a value of Rs 2.04 crore on the NSE. It traded at a price-to-earnings multiple of 56.27 and a price-to-book ratio of 19.34.
12.12 / 05:13
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Vedanta to consider fourth interim dividend in December meeting, shares climb over 1%
Vedanta Ltd climbed as much as 1.1% on Thursday to Rs 519.95 on BSE after the metal and mining firm said that it would hold a board meeting on December 16 to consider a fourth interim dividend payout. The company disclosed this development in an exchange filing. The said board meeting was scheduled to be held in October earlier but was cancelled due to unforeseen circumstances.
12.12 / 05:13
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Stock market update: Sugar stocks down as market falls
EID Parry(India)Ltd.(up 1.31%), Simbhaoli Sugars Ltd.(up 0.80%), Ponni Sugars(Erode)Ltd.(up 0.40%) and Magadh Sugar & Energy Ltd.(up 0.37%) were among the top gainers.
12.12 / 05:13
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Gopal Snacks shares tumble 10% amid major fire at its Rajkot manufacturing facility
Gopal Snacks shares skidded as much as 10% on Thursday to Rs 406.75 on BSE after a major fire incident at the company’s snacks manufacturing facility on the outskirts of Rajkot city in Gujarat. The company disclosed this development in an exchange filing. The snacks manufacturer said there had been no casualties or injuries onsite at the Rajkot factory and there has been no loss of data or disruption to the company’s IT systems due to the fire.
12.12 / 05:13
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Vedanta shares 1.67% as Sensex falls
Vedanta Ltd. traded 1.67 per cent at Rs 522.70 at 10:30AM (IST) on Thursday, even as BSE benchmark Sensex 22.19 points to 81503.95. The scrip had settled at Rs 514.10 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 526.50 and Rs 243.70, respectively.
12.12 / 05:13
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EsportsXO partners with Abu Dhabi Gaming to drive MENA expansion
EsportsXO, an esports tournament management firm, on Thursday, announced a strategic partnership with Abu Dhabi Gaming, as part of its expansion into the MENA region. XO will establish its regional headquarter in Abu Dhabi. This collaboration is aimed at fostering the growth of Abu Dhabi’s local gaming ecosystem and will enable both companies to seize the emerging opportunities in this growing sector. With a projected valuation of $397.21 billion by 2029, the global gaming industry is on a sturdy growth track and the MENA region is rapidly emerging as one of its largest markets. By setting up its regional hub in Abu Dhabi, XO aims to position itself at the epicentre of this dynamic landscape, poised to tap into a market ripe for expansion. Vikas Goel, Founder, XO, said in a statement, “Working with Abu Dhabi Gaming is a major step for XO as we look to expand our presence in one of the world’s most exciting gaming regions. We are eager to contribute to the development of the local gaming ecosystem, nurture homegrown talent, and bring world-class gaming experiences to the MENA region. This reinforces our commitment to expanding our global footprint while fostering meaningful connections with gamers and industry leaders across the region.”
12.12 / 05:13
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Sensex falls! But these stocks are up over 15% on BSE
DCM Ltd(up 19.99%), Apoorva Leasing Finance(up 19.98%), Shubham Polyspin(up 19.96%) and SAB Industries(up 17.53%) were among the stocks that surged over 15%.
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