Compilation Financial News

Rekha Jhunjhunwala has trimmed her stake in midcap counter CRISIL by 8 bps in the June ended quarter at 5.36% from 5.44% in the March quarter. Meanwhile, Ashish Kacholia has raised his holding in smallcap stock Brand Concepts by 6 bps to 1.62% in the June quarter versus 1.56% in the previous three-month period. Jhunjhunwala’s stake cut in CRISIL comes on the back of a lackluster show by the counter. In the last one year, it has returned 13% underperforming Nifty whose returns are to the tune of 25% in the said period. On a year-to-date basis, CRISIL shares have returned less than 1%.

income below Rs 50 lakh then you might be eligible to file, the simpler ITR-1 form abbreviated as Sahaj. This form does not require much information to be filled in as compared to other income tax return (ITR) forms like 2, 3, etc. You can file it conveniently if you have a basic understanding of the various types of income sources. However, not all salaried individuals can file their tax returns using the ITR-1 form. If you had conducted certain transactions in FY 2023-24 (AY 2024-25), then you might be ineligible to use ITR-1.

Corporate America needs to deliver a blowout quarterly earnings season for US stocks to extend a record-breaking rally, according to some Wall Street strategists.

Venkaiah Naidu, as his true comrade, tested in the fire of the Emergency imposed by Indira Gandhi in 1975.

stock market, and traders expect to see the same — and more — in the remainder of the year. The S&P 500 Index has climbed 14% since the beginning of January, notching its second-best stretch of records to start a year this century, thanks to a resilient economy, improved corporate earnings and torrid demand for companies linked to AI. Even with signs of economic cooling, the rally is getting help from a Federal Reserve that’s considering when to trim rates after the most disruptive tightening campaign in decades.

India is set to lure billions of dollars more inflows when JPMorgan Chase & Co. adds the nation’s government bonds to its emerging markets index on Friday, opening up a $1.3 trillion market to a broader range of investors. Global funds have already poured close to $11 billion into index-eligible bonds since JPMorgan’s announcement in September. The US bank expects $20 billion to $25 billion to come in over the next 10 months, raising foreign ownership to 4.4% from 2.5% currently.

NEW DELHI : Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Despite arriving early, the annual monsoon rains have been deficient in June so far, while the government has imposed stock limit on wheat to control price rise. The Adani Group is planning to nearly double its capital expenditure in 2024-25.

MUMBAI : Indian promoters have offloaded shares worth ₹62,000 crore in the first six months of 2024, the highest since 2019, showed data compiled by the markets data provider Prime Database. Promoters had raised 61,277 crore in the year-ago period. While promoters tend to go on an encashment spree during a bull run, this time most of them have sold their stakes at significant discounts to the previous day’s closing price.

Nirmala Sitharaman is set to present her seventh consecutive budget since 2019, joining an exclusive group of finance ministers who have delivered at least five consecutive Union Budgets. This distinguished group includes notable figures such as Morarji Desai, Manmohan Singh, P. Chidambaram, Yashwant Sinha, and Arun Jaitley. Following the Lok Sabha elections, this budget will be the first full budget presented as part of Modi 3.0. Prior to 2016, the budget was traditionally presented on the last day of February. However, starting in 2017, the budget has been consistently presented on February 1 each year.

French consumers are feeling less confident about their prospects amid surprise elections, a fresh headwind for the country’s fragile economic recovery. A measure of confidence compiled by France’s statistics agency fell to 89 in June from 90 in May, according to a survey released Wednesday, in which a reading of 100 represents the long-term average for consumer sentiment. Consumers reported worsening feelings for the quality of living in France in the months ahead, as well as for their own future savings’ prospects and willingness to make major purchases.

A Japanese transport ministry panel has proposed a number of air traffic control measures to boost safety

Narendra Modi praised the transformative impact of the Goods and Services Tax (GST) over its seven-year implementation. Citing data compiled y the Central Board of Indirect Taxes and Customs (CBIC), PM Modi posted on «X» (formerly Twitter) that GST has significantly enhanced the lives of 140 crore Indians. «For us, reforms are a means to improve the lives of 140 crore Indians. After the introduction of GST, goods for household use have become much cheaper.» The Prime Minister also emphasized that the implementation of GST has led to increased savings for the poor and common man. He noted that GST has lowered taxes on essential household items such as flour, curd, and detergent, making daily necessities more affordable.

price stabilisation and it expects retail prices to ease with the progress of monsoon over most parts of the country. According to data compiled by the department of consumer affairs, the all-India average onion retail prices stood at Rs 38.67 per kg on Friday, while the modal price was Rs 40 per kg. Till June 20th, the Centre has procured 70,987 tonnes of onion, as against 74,071 tonnes procured in the same period last year, a senior official in the department of consumer affairs said. «The pace of onion procurement for price stabilisation buffer this year is largely comparable with last year, despite about 20 per cent decline in estimated rabi production,» the official said, adding that the government is on course to achieve targeted procurement of 5 lakh tonnes for price stabilisation.

block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals on the screen, which were worth Rs 6,566 crore led by Axis Bank with a lone block count totalling Rs 2,089 crore. The next in line were ICICI Lombard General Insurance (Rs 814 crore), ICICI Bank (Rs 809 crore), Mahindra & Mahindra (493 crore), Maruti Suzuki (Rs 426 crore), Bharti Airtel (Rs 320 crore) and Hindustan Aeronautics (HAL, Rs 300 crore).

personal guarantors seeking to resolve their financial difficulties", the Ministry of Corporate Affairs (MCA) said in a communication to stakeholders. Personal guarantors give lenders an assurance of the repayment of loans taken by corporate debtors. Usually, these individuals are promoters or directors of the companies concerned or occupy key positions in them. Earlier this week, the insolvency regulator floated a discussion paper seeking to make it difficult for personal guarantors of defaulting firms to escape liabilities.

Wall Street's climb to record highs has come with conspicuously little volatility.

Pine Labs Pvt, an Asian digital payments provider backed by Peak XV Partners and Mastercard Inc., is considering raising about $1 billion in an initial public offering in India, people familiar with the matter said, amid increasing investor appetite in the nation’s stock market. The company may seek a valuation of more than $6 billion in an IPO, the people said, asking not to be identified because the matter is private. Pine Labs may issue both new and secondary shares, they said. It could also opt to do a pre-IPO fundraising round ahead of any listing, two of the people said.

Global investors are likely to keep pumping money into record-hitting stock markets, according to a survey by Bank of America Corp.

Crypto startups have experienced a significant surge in funding over the past decade, surpassing the impressive milestone of $100 billion since May 2014.

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