County Union Financial News

Defence stocks like Hindustan Aeronautics, Bharat Dynamics, Bharat Electronics and others are in focus after the government granted an extension in the exemption of customs duty on the imports of certain parts. Initially set to expire on July 1, 2024, the exemption has now been extended for five years, until 2029. So how does it impact the stocks? 

Under the Income Tax Act, certain groups living in specific areas of select states in India are exempted from paying income tax. These exemptions are granted based on specific criteria, such as income levels, socio-economic status and occupation of the people forming these groups. This unique approach to taxation helps in lessening the financial burden on disadvantaged people living in these areas, providing them with a level-playing field.

Sircilla in Telangana has brought to the fore the alleged lack of work and adequate income in this textile hub, with the issue leading to a war of words between the opposition BRS and the Congress. Kudikyala Nagaraju recently died by suicide as he was unable to repay his debts and this came as a reminder of the tragedy of weavers ending their lives in the past.

NEW DELHI : As India's insurance regulator seeks to insure every citizen by 2047, the life insurance industry wants the government to add more incentives to increase penetration in the Union Budget 2024-25. The industry believes that the incentives would not only make insurance affordable, but would also facilitate long-term funds for investing in key areas of the economy. “India’s infrastructure sector is poised for a significant growth and requires a huge investment to support that growth.

stocks within large-caps remained steady while the same has been diminishing to historical lows within mid and small-caps. South Indian Bank, ONGC, HPCL, Oil India, Coal India, Karur Vysya Bank, CESC, PNB Housing, SBI, GAIL, NMDC, City Union Bank, Hindalco, Gulf Oil, Axis Bank, Sun TV and NTPC are stocks that ICICI Securities has ranked in ascending order from ‘deep value’ to ‘value'.

European Union on Thursday, disbursed Euro 1.9 billion for Ukraine amid its ongoing conflict with Russia. European Union President Ursula von der Leyen, said that the fund under the Ukraine Facility is aimed to keep the Ukrainian state running as they «fight for freedom.»

₹25586 crore worth of equities in May and have remain net sellers worth ₹8536 Crore in equities during the calendar year till date, however have net bought ₹14828 Crore worth of equities in June till 25th, as per NSDL data. All eyes are on sustenance of the trend.The Lok Sabha Elections are behind us and the uncertainties associated with the new government are behind us and hence there is some amount of buying being observed by FPI's, with economic data also remaining supportive, said experts.

Mint. The strategic move is part of India's broader effort to diversify its trade partnerships and reduce its dependency on traditional markets. The scope of India's trade ties with New Zealand and South Africa, which is a key constituent of the South African Customs Union (SACU), is huge as India already shares robust trade relationships with both the countries.

Income Tax Return (ITR) filing deadline is approaching fast and taxpayers are busy arranging various necessary documents, including Form 16 and 26AS, for filing of tax returns. The ITR filing deadline, like in previous years, is July 31. When it comes to filing tax returns, many salaried and non-salaried individuals, especially first-time taxpayers, often get confused about whether or not they are supposed to file income tax returns. Certain individuals are exempt from paying taxes under income tax laws, resulting in zero or nil tax liability for them.

Union Budget 2024: With just about a month to go before the union budget, the finance ministry has started its routine meetings and consultations with various stakeholders from the industry and social sectors. Among many proposals before the finance ministry, one pertains to tax relief for salaried taxpayers, according to reports.

Top Gainers: Axis Bank (up 3.40%), ICICI Bank (up 2.48%), HDFC Bank (up 2.32%), Tech Mahindra (up 1.80%), and Larsen & Toubro (up 1.56%).Top Losers: Power Grid Corporation Of India (down 1.64%), Tata Steel (down 1.24%), Asian Paints (down 1.16%), Nestle India (down 0.56%), and Maruti Suzuki India (down 0.52%).Top Gainers: Shriram Finance (up 3.73%), Axis Bank (up 3.53%), ICICI Bank (up 2.38%), HDFC Bank (up 2.33%), and HDFC Life Insurance Company (up 1.98%).Top Losers: Bharat Petroleum Corporation (down 2.93%), Eicher Motors (down 1.97%), Power Grid Corporation Of India (down 1.67%), Asian Paints (down 1.30%), and Tata Steel (down 1.28%).Top Gainers: HDFC Asset Management Company, L&T FINANCE, Indian Hotels Company, Alkem Laboratories, and MRF.Top Losers: Oberoi Realty, NMDC, Bandhan Bank, Suzlon Energy, and Tube Investments Of India.Top Gainers: Raymond, JBM Auto, Olectra Greentech, City Union Bank, and Nippon Life.Top Losers: Happiest Minds Technologies, Mangalore Refinery & Petrochemicals, Creditaccess Grameen, Navin Fluorine International, and Chambal Fertilisers & Chemical.Top Gainers: Raymond (up 7.43%), Godrej Agrovet (up 6.83%), Welspun Corp (up 5.74%), Lakshmi Machine Works (up 5.48%), and Patanjali Foods (up 5.01%).Top Losers: Happiest Minds Technologies (down 9.44%), Macrotech Developers (down 4.77%), United Breweries (down 4.23%), Indiabulls Real Estate (down 3.96%), and Mangalore Refinery & Petrochemicals (down 3.87%).Top Gainers: Raymond (up 6.46%), Welspun Corp (up 5.74%), Westlife Development (up 4.96%), LIC Housing Finance (up 4.90%), and Patanjali Foods (up 4.70%).Top Losers: Happiest Minds Technologies (down 9.46%), Macrotech Developers (down 4.43%), United Breweries (down 4.14%), Oberoi Realty (down

Muslim League Jammu Kashmir (Masarat Alam faction) and Tehreek-e-Hurriyat, Jammu and Kashmir. The one-member tribunal of Delhi High Court judge Sachin Datta was constituted under the stringent anti-terror law in January to assess whether there was «sufficient cause» behind the imposition of the ban. The Muslim League Jammu Kashmir (Masarat Alam faction) was declared outlawed for five years by the government under the UAPA on December 27, 2023 on account of being involved in anti-national and secessionist activities in the Union Territory. Founded by deceased separatist leader Syed Ali Shah Geelani, the Tehreek-e-Hurriyat was declared outlawed for five years on December 31, 2023. The organisation was banned for fomenting terrorism and spreading anti-India propaganda in Jammu and Kashmir.

Nirmala Sitharaman on Saturday underlined Centre's support to states through timely tax devolution and GST compensation arrears to stimulate growth. At the pre-budget meeting with state finance ministers, Sitharaman also nudged states to take advantage of the scheme under which the Centre gives 50-year interest free loan to states for undertaking specified reforms. In her remarks, the Union Finance Minister underlined the union government's support to states through timely tax devolution, Finance Commission grants, and arrears of GST Compensation being provided for providing stimulus to growth, an official statement said. Regarding the 'Scheme for Special Assistance to States for Capital Investment', Sitharaman mentioned that while most of the loans are untied, a part of it is conditional-linked to citizen-centric reforms by states and sector-specific capital projects and requested the states to avail these loans by fulfilling requisite criteria.

Bajaj Finance, Cholamandalam, and M&M Finance from 'Neutral' to 'Underperform' among NBFCs, citing expectations of lower growth, declining ROEs, and a delayed rate cut cycle.In the insurance sector, while remaining cautious, the brokerage has upgraded SBI Life from 'Neutral' to 'Outperform', believing IRDA regulations less impact it. It expects SBI Life to achieve sector-leading VNB (value of new business) growth of 15 percent and considers its valuations reasonable in this context.As per the brokerage, private sector banks are a steady power of compounding story.

Budget 2024 FAQs: The Budget serves as a comprehensive blueprint detailing the government's projected income and expenditure for a fiscal year, spanning from April 1 to March 31 of the following year. This financial roadmap plays a crucial role in outlining the nation's economic priorities and resource allocations. To enhance accessibility and understanding, a user-friendly guide for interpreting the Budget document is readily available. Following the finance minister's budget speech in the Lok Sabha, these critical documents are swiftly published on the official website, ensuring rapid and widespread dissemination of essential financial information. The budget that will be presented in coming month will be Prime Minister Narendra Modi-lef government's first presentation after forming government.

₹50,000 crore, two people aware of the matter said. The central government, which has been steadily increasing the budget for new tracks over the years, may boost allocation by a sharp 39% from the figures in February's interim budget, the people cited above said on condition of anonymity.

Sarbananda Sonowal arrived in Dibrugarh on Thursday, first time after Prime Minister Narendra Modi reappointed him in the Union Cabinet recently. Thousands of people from Sonowal’s home constituency, which he won convincingly in the recent Lok Sabha elections, thronged the Dibrugarh airport to welcome the beloved leader. Sonowal was warmly greeted by people from various castes, tribes, and areas with enthusiastic cheers. Sonowal also attended a reception party organized at the India Club in the city by MLA of Dibrugarh, Prashanta Phukan where leading citizens of the city along with people from all walks of life extended their greetings to Sarbananda Sonowal. Expressing his deep gratitude, Sarbananda Sonowal said, «I am truly overwhelmed by the unprecedented love and support from the people of the Dibrugarh Lok Sabha constituency that helped me win. I will never forget this affection. Dibrugarh is my birthplace and my place of work. I am determined to continue working diligently as both a native and an MP from Dibrugarh.”

Nirmala Sitharaman to increase Securities Transaction Tax (STT) on high frequency traders. The demand was put before the FM in a pre-budget consultation meeting on Thursday. STT is applicable on every sale and purchase of equities listed on the exchanges. The rate of STT during the sale of options or futures is 0.017% and 0.01%, respectively.

Manipur Governor Anusuiya Uikey said that she had informed the Finance Minister about the economic condition in the state and requested financial assistance. Representatives of INDIA bloc comprising of ten political party leaders called on Governor at Raj Bhavan and requested to take steps to solve the ongoing impasse in the State. The political delegation led by Okram Ibobi Singh, CLP Leader and former CM of Manipur along with M. Nara of CPI submitted a memorandum to the Governor demanding for an early amicable solution to the crisis.

With the dawn of Modi 3.0, all eyes are eagerly set on the upcoming Union Budget of 2024, slated for presentation in July. Anticipation runs high among industries, farmers, taxpayers, and the middle class alike, as they await potential boosts and tax reliefs from Finance Minister Nirmala Sitharaman.