Digital Financial News

Stock market today: Ahead of monthly auto sales numbers for the month of July 2023, auto stocks are in action today. Auto majors Maruti Suzuki, Ashok Leyland, Tata Motors, Hero MotoCorp, Escorts Kubota, Force Motors, etc.

Siemens Ltd stock rose 4.5% on the National Stock Exchange in Monday’s early trade to touch a new 52-week high of ₹4,068.85. This positive reaction comes after most of its minority shareholders voted against selling its low-voltage motors and geared motors business to Siemens Large Drives India, a subsidiary of Siemens AG. Analysts point out that the proposal was not lucrative for minority shareholders.

Tata Motors, Mercedes Benz, Volvo, Citroen and others are reportedly gearing up for their next best launches. Here are details on some of the upcoming launches: According to several media reports, Volvo is said to launch its C40 Recharge in India. It is essentially believed to be a coupe variant of the XC40 Recharge SUV, but with upgraded technology beneath the surface.

Google Ads platform, said Dan Taylor, vice president of global ads at Google. Using Large Language Models (LLMs) and generative artificial intelligence (Gen AI), Google Ads will be able to create campaign workflows based on business prompts given by marketers. «It learns from the advertisers landing pages, queries that are performing well and headlines that they've already approved to create entirely new creatives,» he said during his recent India visit.

The Reserve Bank should urgently be handed more powers to curtail the growing influence of technology companies in finance, Commonwealth Bank has urged in its submission to a Treasury review of payments.

shipping industry, with the world’s third-largest container line saying freight rates remain weak and a steep slump in US demand for goods out of China isn’t over. “The transport and logistics market remains depressed,” the French company controlled by billionaire Rodolphe Saade and his family said in an earnings statement Friday. Sluggish economic growth and persistent inflation is expected to weigh on consumer spending for the rest of the year, while deliveries of new vessels in the market could hurt rates.

Magic Eden, the largest NFT marketplace on the Solana blockchain,  announced the appointment of Linus Chung, a former executive at Coinbase, as its Head of Product, according to a PRNewsWire report on July 20, 2023. Chung brings nearly two decades of experience in technology and web3 to the role, where he will lead product development, enhance user experience, drive growth, and develop long-term strategy.

SIP (systematic investment plan) is turning into a behemoth. Retail investors with small ticket sizes continue to plough big money into mutual funds in auto-pilot mode. As per the data from the Association of Mutual Funds in India, new SIP registrations for the month of June hit a record high of 27.8 lakh, taking the total SIP accounts to 6.7 crore.

NEW YORK (Reuters) — A look at the day ahead in Asian markets from Stephen Culp, financial markets columnist.

Reserve Bank of India has announced that Regional Rural Banks would be given more freedom to mobilise resources and to deploy them within their geographical boundaries. The RBI has highlighted that important forces boosting socio-economic growth are the financial activity of the banking industry. Rural development also means transformation of the rural population.

₹1,400 crore in size in 2007, to a Rs20,000 crore entertainment behemoth by 2020-21. In 2018, Walt Disney Company acquired Rupert Murdoch’s 21st Century Fox Inc., making Star India a part of Walt Disney. Shankar quit as the India chairman and president of Asia Pacific for the Walt Disney Company in December 2020.

India will launch TechEquity — a digital inclusion platform that seeks to bridge the gender digital divide — on Tuesday, the first day of two-day G20 EMPOWER summit in Gandhinagar. «The platform will impact two to three million women across the globe over the next year,» Sangita Reddy, joint managing director of the Apollo Hospitals Group and the chair of G20 EMPOWER, told ET.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: Upgrades for Lam Research and The Trade Desk, and downgrades for Rackspace, Wendy's, and Carvana.

The domestic stock market finished lower on Friday (July 28) due to selling in auto sector, financial services, and information technology sector companies. At the closing, the Nifty 50 was down 13.85 points at 19,646.05, and the Sensex was down 106.62 points at 66,160.2.

The second-quarter results for global digital giants Meta (formerly Facebook) and Alphabet (Google’s parent company) last week brought some relief as their ad revenues show an upward trend. This growth has also been seen in India, where the ad revenues of both Meta and Alphabet have surged in the past few years. The latest results offer a glimmer of hope for content creators in India, who rely heavily on these tech behemoths for the revenues.

As Bitcoin's price hovers at $29,366, reflecting a slight 0.22 percent decrease on Sunday, concerns arise about the declining daily trading volume, potentially signaling a departure of whales from the market. 

Rajya Sabha chairperson to disallow the tabling of a parliamentary committee report which contains comments on the Digital Personal Data Protection Bill while noting that it was never referred to the panel. Citing rules guiding the two Houses, he said in his letter to the chairs that parliamentary standing committees are explicitly prohibited from examining any bills that have not been referred to them by either the Rajya Sabha chairperson or the Lok Sabha speaker after their introduction. «It is imperative to note that the said Digital Personal Data Protection Bill had neither been introduced before either of the Houses of Parliament till date nor was it referred to the Standing Committee by the chairman of the Rajya Sabha or the speaker, as the case may be, for examination,» Brittas said. The Kerala MP is a member of the Standing Committee on Communications and Information Technology headed by Shiv Sena MP Prataprao Jadhav. Brittas added, «It is evident that the Report of the Standing Committee on Communications and Information Technology, said to be adopted on July 26, 2023, is void ab initio (having no legal sanctity) and is ultra vires of the powers of the Standing Committee conferred by the rules.»

– By Rama Krishna Sreepada

By Nishant Behl

Income Tax Return e-Filing on http://www.incometax.gov.in, ITR Due Date for AY 2023-24 Latest News Updates on July 29: There are only three days left before the July 31 deadline for ITR filing. It is now clear that the due date will not be extended this year. Therefore, there is no point in waiting for an extension of the due date for taxpayers.

India's semiconductor mission is not just about meeting domestic requirements but also aimed at contributing to global demand for trusted manufacturing, External Affairs Minister S Jaishankar said on Sunday. In an address at a conference, he told top executives of leading global semiconductor firms that their decisions and relationships have implications far beyond immediate business and can contribute to re-engineering the global economy.