Economy Financial News

Ashish Kacholia portfolio: Balu Forge share price has been on an uptrend after bottoming out at around ₹280 apiece. This Ashish Kacholia portfolio stock has continuously risen after ushering in June 2024. Balu Forge share price today opened upside at ₹312.70 apiece on NSE and touched an intraday high of ₹328.20 per share.

The price change in 24 carat gold in the last one week has been -0.69% .whereas in the last month it has been 1.91%.The cost of silver is Rs.87820.0 per kg down by Rs.190.0 per kg. Gold Price Today in Delhi is ₹73495.0/10 grams. Yesterday’s Gold Price on 18-06-2024 was ₹73663.0/10 grams.

Chinese Premier Li Qiang is set to talk with Malaysian Prime Minister Anwar Ibrahim with the two countries due to ink new cooperation pacts on digital economy and green development as they mark 50 years of diplomatic relations

Budget expectations: Finance Minister Nirmala Sitharaman will begin consultations on Wednesday, ahead of the new government’s first full budget, to be presented in July. India Inc has suggested a host of reforms, including medium-term ones, to catapult the economy to a higher growth trajectory, spur employment creation, trigger private investments and preserve macro stability. A look at their wish list: 1. SUSTAIN GROWTH:

Fitch Ratings has raised India's growth forecast for FY25 to 7.2% from 7% earlier, on the back of elevated consumer confidence that is expected to drive spending and increased investments, but cautioned that the ongoing heatwave was a risk to both growth and inflation. In its Global Economic Outlook (GEO) released Monday, it raised its forecast for world growth in 2024 to 2.6% from 2.4% estimated earlier. India's economy grew 8.2% in FY24. «We expect the Indian economy to expand by a strong 7.2% in FY25 (an upward revision of 0.2pp from the March GEO),» Fitch Ratings said, adding that investment will continue to rise but more slowly than in recent quarters, while consumer spending will recover with elevated consumer confidence. Purchasing managers survey data point to continued growth at the start of the current financial year. Earlier this month, RBI had revised upwards the country's GDP forecast by 20bps to 7.2%. As per the report, signs of the coming monsoon season being more normal should support growth and make inflation less volatile, though a recent heatwave poses a risk. «We expect growth in later years to slow and approach our medium-term trend estimate,» it said.

₹25,000. This will be followed by an additional ₹25,000 every six months for the next two years, culminating in a total of ₹1.25 lakh after 24 months.However, for Infosys employees at higher bands than 3 (4 through 7), the relocation allowance can go up to ₹8 lakh, inclusive of the initial relocation allowance, by the end of the same period.This initiative aims to draw employees from the Mumbai-Karnataka region to consider opportunities in Hubballi.It also allows the employees to continue working on their current projects from Hubballi, thereby optimising the use of the facility’s modern infrastructure and reducing operational costs.Lauding the initiative, Karnataka Minister MB Patil, said in a post on X: “Hubballi Set for Growth: Infosys Spurs Local Growth with Incentives.

household consumers surveyed cutting consumption or feeling the pinch of rising prices of onion, potato and tomato and another 31% are likely to be impacted once per kg prices cross INR 50 for these items 2 in 3 household consumers surveyed confirmed paying Rs 25/kg or more for tomato, Rs 30/kg or more for potato and Rs 35/kg or more for onion. While tomatoes are still affordable at these prices, potatoes and onions are now selling at much higher rates than their average price of Rs20/kg. The summer monsoon set in two days early in Kerala this year but so far it has remained sporadic, leading to humid weather. In most states, with temperatures rising, power cuts and water shortages are being reported. The result is, there is more demand for fruits and vegetables, which have become pricier. The prices of essential vegetables onion, potato and tomato have also shot up by 20% to 50% in the last few weeks.

Collins on Tuesday cautioned against getting carried away with recent inflation data that suggested price pressures may again be retreating back to the U.S. central bank's goal. «It is too soon to determine whether inflation is durably on a path back to the 2% target,» Collins said in the text of a speech to a group in Lawrence, Massachusetts. «We should not over-react to a month or two of promising news, just as it was not appropriate to take too much (of a) signal from the disappointing data at the beginning of this year,» she said.

Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending

₹79,927 trillion at the end of March, NSE data show.Sebi is now considering a series of tweaks to its derivatives trading rules, including higher margins for selling options contracts and more detailed disclosures.Also read | Why Sebi’s reviewing the eligibility criteria for derivatives tradingLast month, finance minister Nirmala Sitharaman alluded to an unchecked explosion in retail trading of futures and options, saying it could create challenges not just for the markets but for investor sentiment and household finances as well.Das on Tuesday said the last mile of the disinflationary process was proving to be sticky owing to 'stubborn' food prices. But he added that it was "too premature" to change the monetary policy stance and that the apex bank had to shun an "adventurism" approach on the rates front.Also read | The MPC has done well to keep policy interest rates unchanged"The disinflationary process is facing a lot of resistance from food inflation which is stubborn and high, primarily due to supply-side factors affected by weather conditions," he said.RBI's monetary policy committee kept its rates and stance unchanged in its June policy.

Canada’s top banking regulator held the domestic stability buffer at 3.5 per cent Tuesday following a semi-annual review of the ‘rainy day’ funds the country’s largest banks must set aside to help absorb losses and to keep loans flowing in the event of financial shocks or uncertainties.

Americans have seen their buying power rise for a year amid falling inflation and a strong job market, which might be welcome news for households struggling to afford everyday purchases.

BlackRock chief investment officer of global fixed income Rick Rieder shares his playbook for stock investors and breaks down the impact of high rates on inflation on 'Barron's Roundtable.'

The dust from a heated election campaign has now settled down. A new government has been sworn in. The Union finance ministry led by Nirmala Sitharaman is busy preparing the full budget for the current financial year.

«Many people may be feeling getting carried away with the kind of wealth being created in India as an equity investor, this is something once in a century kind of thing happening and when we feel this is likely to continue for next 5, 10, 20 years, that is more exciting,» says Porinju Veliyath, Equity Intelligence India. But like they say on when it is birthday, that means gifts and gifts for ET Now means gifts for ET Now viewers. And gifts from Porinju is always is if you give stock ideas and tips. I think, investors have been very-very blessed and happy in the last many years, especially after the COVID. I used to always use this word lucky, lucky to be in this profession, lucky to be in this domain. It is not a small thing. Many people may be feeling getting carried away with the kind of wealth being created in India as an equity investor, this is something once in a century kind of thing happening and when we feel this is likely to continue for next 5, 10, 20 years, that is more exciting.

Long-term capital gains (LTCG): Profits from the sale of equity shares held for more than 12 months are classified as LTCG. But the same for land or real estate transactions are considered LTCG if the holding period is 24 months. LTCG, from the sale of equity exceeding ₹1 lakh in a fiscal year, is taxed at 10% without indexation benefit.

advance tax collection in this financial year till June 15 surged 27.6% year-on-year to ₹1.48 lakh crore, signalling a robust economy and strong corporate performance, said people privy to the information. The amount included ₹1.14 lakh crore as corporate tax and ₹34,362 crore as personal income tax, they said. The advance tax collection between April 1 and June 15 last year was ₹1.16 lakh crore, comprising ₹92,172 crore as corporate tax and ₹23,513 crore as personal income tax.

More Bank of Canada interest rate cuts can’t come soon enough for an increasing number of people who say they are worse off financially on several fronts, says a new survey.

Canada’s core values have shifted so meaningfully that I am afraid they are destroying the economic future of this country for our children and grandchildren.

The downbeat tone of the start of 2024 has been replaced with an altogether cheerier tune, according to a new report from Franklin Templeton.

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.