India Financial News

I sold urban land and deposited the money in the Capital Gains Account Scheme before the due date for filing the ITR. In the current year, I have sold another urban land. I wish to invest the money, as well as the money lying in the capital gains account, in a residential house in the current year. Can I claim an exemption under section 54F? Section 54F provides an exemption for long-term capital gains on the sale of any capital assets other than a residential house if the assessee invests the sale proceeds of the capital asset for buying or constructing a residential house within the prescribed period.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, finished the special live trading session on Saturday, May 18, with gains, extending their current three-day rally driven by fresh foreign capital inflows and encouraging cues from across the globe. The small and mid-cap indexes outpaced the benchmark indices, and all sectoral indices finished in the green. The 30-share BSE Sensex closed at 74,005.94 in the second special trading session, up 88.91 points, or 0.12%.

Mumbai Lok Sabha elections 2024 LIVE Updates Speaking to the reporters, the actor said, “I want my India to be developed and strong. I voted, keeping that in mind. India should vote for what they deem is right...I think voter turnout will be good." Actor Farhan Akhtar and Director Zoya Akhtar show their inked fingers after casting their votes at a polling station.

UPI) platforms is increasingly winning over merchants and consumers alike, taking the sheen off debit cards for cashless transactions.

Also Read: Lok Sabha Elections 2024: Polling in Mumbai today! Know what's closed, what's open On Tuesday, May 21 at 9:15 IST, the stock market will resume regular trading, but, following a fifteen-minute pre-opening session that begins at 9:00 IST, according per the BSE and NSE websites. The fifth phase (Phase 5) of the general elections for 2024 is slated to take place on Monday, May 20, and voting will take place in as many as 49 Lok Sabha seats, which are spread across six states and two Union territories (UTs).

Lok Sabha Election 2024 Phase 5 Voting Live Updates: Polling begins at 7 am, Smriti Irani, Rahul Gandhi in fray Among the notable constituencies, Amethi and Raebareli in Uttar Pradesh stand out as traditional bastions of the Congress party. Rahul Gandhi, a significant figure in the Congress, is contesting from Raebareli, a seat that has been represented by his mother, Sonia Gandhi, since 2004.

₹2.6 trillion in assets. In fact, he believes periodic corrections are healthy as they eliminate excesses, and create fresh investment opportunities. Moreover, Gupta noted that investors seem to favor equities, aiming to allocate a greater portion of their portfolios to stocks.

India will soon start negotiations for concluding a free trade agreement (FTA) with Russia-led Eurasian Economic Union (EAEU) that will give the country a smooth access to markets of five resource-rich post-Soviet states. Indian exporters from sectors such as engineering goods, electronics and agriculture will get a boost from the agreement, experts on the EAEU said. The EAEU comprises Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan.

stock market has dissipated. In the past three weeks, India VIX, a widely tracked fear gauge measuring the expected volatility in the stock market, has shot up from 10.15 on 23 April to 20.6 on 13 May. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey? Election season casts clouds Elections introduce uncertainty in the stock market. This time, the market’s confidence, in what seemed like an inevitable outcome, is being tested. According to initial estimates, the first four phases of the marathon seven-phase Lok Sabha elections have recorded a lower voter turn than the corresponding period in the 2019 general elections. Low voter participation is being perceived as harmful to the reelection prospects of the Narendra Modi government. The concern is that voter disengagement could potentially weaken the ruling party’s numbers, undermining policy continuity and political stability, which the market favours. Volatility has shot up

Reserve Bank of India (RBI) suggest that it may transfer a higher dividend — possibly in the region of ₹1 lakh crore — to the government than last year, giving a potential boost to New Delhi's finances. Last week, the RBI announced a steep cut in the government's borrowing through Treasury Bills, reducing the amount of funds that the Centre would have garnered through these short-term instruments by ₹60,000 crore. The central bank also took some measures to ensure greater success of an upcoming operation where the government plans to prematurely pay back ₹60,000 crore of earlier borrowings.

Hero MotoCorp and Harley-Davidson Inc are set to expand their partnership to bring more models of the iconic US motorcycle maker to India, riding on the overwhelming response to the X-440, multiple people aware of the negotiations told ET. The two companies are close to finalising an agreement to broaden their existing partnership, which is limited to a single model, the sources said. The pact could also include manufacturing of Harley-Davidson models for export to other markets, they said. An announcement is likely within weeks, they added. Hero MotoCorp and Harley-Davidson did not respond to ET's queries until press time on Sunday.

HTech, the newly formed smartphone company which has a licence to sell Honor-branded handsets in India, is looking to raise about $100 million from investors to diversify into manufacturing, co-create India-specific products and improve customer experience, a top executive said. «We've already ploughed in $10 million into the business and are now looking to raise another $100 million, of which $20 million will be raised in the next six months,» Madhav Sheth, chief executive officer of HTech, told ET. The smartphone player will be looking to dilute equity in the company — in which Sheth is now a majority shareholder — to raise the funds. «When you are doing something for the first time, having an equity partner will ensure the scale of growth is much faster,» the executive said. Since inception in August 2023, HTech has launched two handsets across the mid-premium and budget segments, and is looking to launch six more by the end of 2024, targeting the fast-growing premium segment which contributes 20% in volume terms to the smartphone market, according to Counterpoint Research.

JSW Steel's third phase of capacity expansion at its plant in Dolvi will be among the lowest for brownfield expansions for the company, a top official told ET. JSW Steel will spend a little over ₹19,000 crore on this capacity addition, which will help it cater to the demand for value-added special steel products, Jayant Acharya, chief executive officer of JSW Steel, said. «It will be very cost effective since some of the infrastructure facilities are already there (and) some of the equipment are already there as part of phase two,» he said.

Zee Entertainment Enterprises managing director and chief executive Punit Goenka said he has not discussed his reappointment with any shareholder, even as his five-year term is set to end in December. «So, at the end of the day, it is the shareholders who will decide whether I am the right person or not, or whether somebody else needs to lead this company,» Goenka told analysts during the company's Q4 earnings call on Friday. Domestic institutional investors own a 35.56% stake in the company as of March 2024. Some of the top investors include ICICI Prudential Mutual Fund and HDFC Mutual Fund.

politician has thrown up yet another bogeyman: the 'desi Angrez'. Like the ABCD — American-Born Confused Desi — and other archetypal stereotypes (or are they 'stereotypical archetypes'?), the desi Angrez is a figure of both derision and envy, the former emotion covering the latter.

Telecom companies are bidding less enthusiastically in the upcoming spectrum auctions, or that's at least what earnest money deposits would suggest. This is partly on account of the low conversion to 5G networks by subscribers of Reliance Jio and Bharti Airtel. Vodafone Idea, the troubled third operator that has been slower off the blocks in the 5G race, needs to catch up.

Inditex, the owner of fashion brand Zara, saw its slowest ever sales growth in India, excluding the pandemic year, in FY24 as the world's largest fashion group faced rising competition from global rivals in the clothing market that is increasingly getting cluttered. Inditex Trent, its joint venture with Tata that runs 23 of Zara stores in India, saw revenue rise 8% to Rs 2,775 crore last fiscal, significantly down from 40% growth a year ago, according to Trent's annual report. Net profit was down too at Rs 244 crore, an 8% drop. Zara has been a runaway success since its arrival in the country more than a decade ago but after initially doubling sales every two years, the brand's rate of expansion had come down in the past few years. «The market is very competitive, and the challenges are real. Nevertheless, the opportunity pool and the size of the market means that there is space for multiple successful players. Trent remains well placed to navigate this next phase of growth by leveraging our platform and growth engines,» P Venkatesalu, chief executive officer at Trent, said in the report.

Pakistan over violence against foreign students in Bishkek reveals a sentiment of mistrust that is thwarting Islamabad's efforts to improve ties with the Central Asian nation by playing the religion card. The Kyrgyz government has not only lodged protests with Pakistani authorities but also issued a statement blaming the Pakistani media for spreading rumours.

conflicts, affecting 9.4 mn people and ₹3.11 tn investments. In this context, last week's Supreme Court judgment on land acquisition is significant.

KKR is looking to acquire a minority stake in the Tandon Group-owned healthcare BPO Infinx Healthcare. The global private equity major is likely to invest about $150 million, or Rs 1,250 crore, to acquire about 26% stake in Infinx, two people aware of the development told ET. «We expect this sector (healthcare BPO) to continue growing in India, driven by global demand, and believe that Infinx is well placed to meet this gap through its tech-enabled solutions,» Akshay Tanna, partner and head of India private equity at KKR, told ET. «We will draw on our local knowledge and healthcare expertise to support Infinx's growth and build a healthcare platform, including through organic and inorganic growth strategies.»

Enforcement Directorate (ED) will file «at least one more» supplementary prosecution complaint (equivalent of a chargesheet) in the Delhi excise scandal, people aware of the matter told ET. It will elaborate on the alleged role of hawala operators in the alleged transfer of kickbacks from a South India-based group to functionaries of Aam Aadmi Party (AAP) for the party's Goa assembly election campaign in 2022. The federal agency had arrested an alleged Delhi-based cash courier named Vinod Chauhan earlier this month. The agency, in one of its previous charge sheets, had alleged that Chauhan received cash bags from associates of BRS leader and co-accused in the case K Kavitha, which were then allegedly transferred through hawala to AAP leaders in Goa.