Experts Financial News

(This story originally appeared in on Jul 26, 2024)

Varun Beverages on Thursday announced that its board will be considering a stock split in its upcoming board meeting on July 30. Following this, the shares of the company rallied 2% to its fresh all-time of Rs 1,680.80. “the Board of Directors of the Company will be held on Tuesday, July 30, 2024 inter-alia, to consider and approve the Following: Proposal for sub-division/split of existing Equity Shares of the Company having a face value of Rs. 5/- each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of Equity Shareholders of the Company and other applicable approval(s) (if any),” said the company in its filing to the exchanges.

Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said customs duty cut has made gold imports cheaper. The move will help curb the rampant issue of gold smuggling, leading to growth in the organised jewellery sector.

quarter was Rs 2,660 crore, marking a 22% increase over Rs 2,178 crore reported in the corresponding quarter of the previous financial year. The assets under management for the April-June 2024 quarter were Rs 17,773 crore.

power stock SJVN on Friday rallied over 13% to the day's high of Rs 159.60 on BSE after receiving a Letter of Intent for allotment of Darzo Lui pumped storage project from the Mizoram government. «With an installed capacity of 2,400 MW, the Pumped Storage Project has been proposed across Darzo Nallah, a tributary of Tuipui river. The estimated cost of project on completion is Rs 13,947.50 crores including IDC & Financing costs at April 2023 Price Level. This is the first project of the company in the state of Mizoram,» SJVN said in a regulatory filing.

Nifty has declined for the past five days, but strong Wall Street cues suggest a rebound this Friday. The benchmark Sensex and Nifty indices are expected to open flat to positive on July 26, following GIFT Nifty trends, which indicate a gain of 20 points for the broader index. Yesterday, FIIs were net sellers of Rs 2,605 crore, while DIIs were net buyers of Rs 2,432 crore. Nifty options data points to a trading range of 23,500-25,000, with major resistance at 24,800.

Breakout stocks to buy or sell: Following weak global stock market trends on a tech-fuelled sell-off at Wall Street, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index ended almost flat at 24,416; the BSE Sensex lost 109 points and closed at 80,039, whereas the Bank Nifty index crashed 423 points and finished at 50,893. According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50 index must remain above 24,150 to 24,200 zones to maintain the positive Indian stock market trend.

₹0.55. “The advantage of borrowing in a currency that is expected to depreciate is that the borrower has to repay that much less," said Anindya Banerjee, vice-president of currency derivatives and interest rate derivatives at Kotak Securities. At the same time, Banerjee warns that what matters is not how much that particular currency has moved in the past, but how it is expected to behave in the future.

A plan to help shore up the Colorado River by cutting off water to alfalfa fields in California’s crop-rich Imperial Valley is finding support among water managers and farmers

Canadians with mortgages and those gearing up for a run at the housing market have plenty of decisions to make after back-to-back interest rate cuts from the Bank of Canada.

Colgate ka to gate khul gaya, Nestle ka to panchhi urne wala hai, Pantene ka to pant gila hone wala hai, aur do saal me Unilever ka lever kharab ho jayega (Colgate’s gate has opened; Nestle’s bird [the Swiss company’s logo] has flown, Pantene’s pants are going to get wet, and in two years, Unilever’s lever will fail)." A month earlier, speaking to reporters in Bengaluru, he had said, “Colgate will be below Patanjali by this year (in terms of revenue), and in three years, we will overtake Unilever." Such was his confidence back then that Patanjali Ayurved, the company he had co-founded with Acharya Balkrishna, would send the multinational corporations (MNCs) that had lorded over India’s fast-moving consumer goods (FMCG) landscape for decades packing. In the end, however, the Patanjali founders failed in that endeavour as the MNCs took a leaf out of their ayurvedic playbook to beat them at their own game.

ICMR), in collaboration with the National Health Authority (NHA) and WHO India, has released 32 new Standard Treatment Workflows (STWs) for treating common and serious diseases under five specialties namely Cardiothoracic Vascular Surgery, Paediatric Cardiology, Interventional Radiology, Neuro Surgery, and Orthopaedics on 25 July, Thursday.These 32 new standards are an addition to the already existing 125 STWs previously released across 23 specialties in 2019 and 2022 by the ICMR.The ICMR introduces evidence-based STWs to enhance medical care consistency in India. These guidelines, created by national experts, promote optimal treatment practices, rational drug use, and efficient healthcare services. Each concise one-page document outlines key actions for physicians, ensuring uniform healthcare standards in India's public healthcare system.

Indo-Korean Startup Community Meetup, at the Embassy of India in Seoul, attended by over 80 participants including 50+ founders, investors, academia, government officials, media, and industry experts. The Circle FC team also met and engaged in a discussion with H.E. Amit Kumar, the Ambassador of India to South Korea on steps to strengthen India-Korea startup cooperation

In Budget 2024, finance minister Nirmala Sitharaman announced a significant amendment regarding the treatment of rental income from residential property. Previously, individuals could report their rental income as business income, but this will now change. Rental income from residential property must be reported under the 'Income from House Property' category, as per Section 24 of the Income Tax Act.

The huge number of SUVs available today can complicate the shopping experience

Income Tax Act proposed in the budget could help loss-making companies with high cash burn, including startups, conserve working capital, tax experts and lawyers said.

Just as the central bank’s last 25-basis point rate cut did little to move the housing market, this one probably won’t either, says Clay Jarvis, Nerdwallet Canada’s mortgage and real estate expert. An overnight rate of 4.5 per cent is unlikely to unleash homebuyers’ pent-up demand, he said.

New Delhi: Close on the heels of PM Narendra Modi's Moscow trip for the annual summit, Russia is supplying 120 super long-range Surface-to-Air missiles to India that will give the country's military an edge over Pakistan.

Leading hardware wallet provider Trezor has recently launched their Trezor Expert Sessions, a personalized onboarding service that provides hands-on guidance and boosts confidence in using Trezor hardware wallets.

Kharge on Wednesday said Bihar and Andhra Pradesh got «pakoda and jalebi» on their plates while other states got nothing as he raised the issue of alleged discrimination meted out to opposition-ruled states in the Union Budget. Engaging in raillery and hurling barbs at Finance Minister Nirmala Sitharaman in the House, the Congress veteran called Sitharaman «mataji» and said she is an expert in speaking, prompting Chairman Jagdeep Dhankhar to quip that she was more like his daughter.

budget proposals to facilitate employment and skilling have boosted sentiment but are likely to translate into sizeable numbers only in the medium to long term, rather than triggering any major turnaround in the job market in the near future, said economists and hiring experts.