Experts Financial News

I was working in a private sector company and retired recently. I receive a monthly pension from the Superannuation Fund (managed by LIC) as per the terms of my employment. The contribution to the superannuation fund was made by my employer. I also receive a monthly pension from EPFOunder the Employees’ Pension Scheme 1995 and a monthly instalment from LIC in respect of my Jeevan Suraksha policy which I bought 12 years back. I receive a monthly pension from LIC in respect of my Pradhan Mantri Vaya Vandana Yojana. Kindly clarify under what head of income each of the above receipts is to be declared in the Income Tax return and whether there is any exemption applicable for any of the above receipts.

CGHS with AIIMS, New Delhi; PGIMER, Chandigarh; JIPMER, Puducherry and AIIMS located at Bhopal, Bhubaneswar, Jodhpur, Patna, Raipur, Rishikesh, Bilaspur, Rajkot, Kalyani, Bhatinda, Bibinagar, Guwahati, Deoghar and Mangalagiri; to facilitate cashless treatment/investigation facilities to Pensioner beneficiaries and other eligible categories of CGHS beneficiaries at these premier institutions." Who will be eligible for cashless treatments at AIIMS, PGIMER, Chandigarh and JIPMER, Puducherry? What are the guidelines that CGHS beneficiaries must know to avail cashless treatment facilities at these premier institutions? Read here to find out. Cashless treatment facilities at AIIMS: Who are eligible? What are the guidelines? 1) CGHS pensioners and other beneficiaries entitled for cashless treatment like ex-MPs, ex-Governors, former judges of Supreme Court of India, former judges of high courts, freedom fighters, etc., holding a valid CGHS card are eligible for cashless treatment at AIIMS. 2) The validity of the CGHS card and the ward entitlement are printed on CGHS Card. 3) AIIMS will create a special desk for CGHS beneficiaries.

Shares of MRF Ltd.(up 2.9 per cent), Tube Investments of India Ltd.(up 2.34 per cent), TVS Motor Company Ltd.(up 1.66 per cent), Balkrishna Industries Ltd.(up 1.47 per cent) and Eicher Motors Ltd.(up 1.08 per cent) ended the day as top gainers in the pack. On the other hand, Mahindra & Mahindra Ltd.(down 0.57 per cent), Samvardhana Motherson International Ltd.(down 0.53 per cent), Bharat Forge Ltd.(down 0.4 per cent) and Tata Motors Ltd.(down 0.06 per cent) finished as the top losers of the day.

On the BSE, Octaware Technologie(down 19.84 per cent), PayTM(down 18.69 per cent), Veerkrupa Jewellers(down 10.00 per cent), Money Masters(down 9.99 per cent) and Angel Fibers(down 9.84 per cent) stood among the top losers in today's trade. In the Nifty pack, 25 stocks closed in the green, while 24 stocks ended in the red.

Indian Overseas Bank led the gains with a 3.4% increase, trailed by Indian Bank and Punjab National Bank, recording gains of 3.1% and 1.6%, respectively. Also Read: Nifty 50, Sensex snap 7-day winning streak; mid, smallcaps outperform; RBI MPC outcome in focus According to domestic brokerage firm Motilal Oswal, the recent strong performance of the BJP in state elections has instilled confidence of political stability for 2024. This positive outlook bodes well for India's macroeconomic and policy momentum, especially considering the country's leading growth among major economies in terms of both GDP and corporate earnings.

SpiceJet shares were locked in the 20% upper circuit limit at ₹52.29 apiece in today's trade. This is also the stock's new 52-week high. The significant uptick was driven by the company's announcement of plans to raise fresh funds to settle its dues.

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₹1700 per share levels at the end of October 2023. After that it has risen to the tune of ₹1835 apiece levels in near one month time. According to stock market experts, Kotak Mahindra Bank shares gave breakout at ₹1700 apiece levels and now it is on cusp of another breakout at ₹1840 levels.

UPI will continue to grow at about 60% in terms of volume above 2023 UPI transactions; P2M will continue to trend higher than that of P2P transactions; P2M will be about 60% of the total UPI volume," said Mehul Mistry, Global Head-Strategy, Digital Financial Services & Partnerships, Wibmo, A PayU Company. “The forecast for 2024 envisions UPI as a pivotal player in promoting financial inclusivity, offering a convenient and interoperable solution for users nationwide.

General Elections. Union Finance Minister Nirmala Sitharaman while addressing CII Global Economic Policy Forum 2023 Summit on Thursday, December 7, said that the Union Budget 2024 scheduled to be presented on February 1 is unlikely to make any "spectacular announcements". “I don’t want to be a spoilsport, but the 1st February Budget is just a Vote on Account; a Budget to meet expenditure till the next government comes to power.

Punjab National Bank has seen its shares perform exceptionally well this year so far, rewarding its shareholders with a return of 53%. During this period, the stock has appreciated from ₹56.80 apiece to the current level of ₹86.40. This marks the stock's third consecutive yearly return.

Hindustan Aeronautics (HAL) have rallied nearly 30% remaining unbeaten in nine trading sessions and making fresh 52-week highs on a daily basis. The stock price is expected to move up to 10% albeit with minor hiccups as the recent rally has taken the stock into a strongly overbought zone, experts say.

Axis Mutual Fund has announced withdrawal of the NFO of Axis US Treasury Dynamic Bond ETF Fund of Fund. The new fund offer or NFO of the scheme was scheduled to open for subscription on December 5 and close on December 11. Axis US Treasury Dynamic Bond ETF FoF, an open-ended fund of fund investing in ETFs wherein the underlying investments comprise of US treasury securities across duration.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a long build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price declines. Bharti Airtel's stock price fell 2.21% and open interest saw an increase of 5.94%. ONGC stock price declined 1.92% and open interest saw a rise of 4.69%. Apollo Hospitals saw stock pricing dipping up by 1.59% and the open interest saw an increase of 2.18%. Cholamandalam Investment and Finance stock price declined by 1.35% and open interest saw a rise of 0.69%. Tata Steel's stock price fell 1.43% and open interest saw a rise of 1.94%. Some additional checks would help traders in taking better trading decisions as they increase the probability of a follow-up of the upward movement in the stock price. First, if this long build-up is accompanied by any bearish crossover, which means that whether in the current down move when the open interest has moved up the stock price has moved below its 20, 50 or 100-day moving average.

Godrej Consumer Products Ltd. fell 1.62 per cent to Rs 1021.6 at 02:05PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session.

Marico Ltd. slipped 0.81 per cent to Rs 534.9 in Thursday's trade as of 02:10PM (IST). It hit a high of Rs 541.95 and low of Rs 526.85 during the session.

LIC share price: Life Insurance Corporation or LIC share price has been in uptrend after hitting life-time low of ₹530.05 on NSE on 31st March 2023. LIC shares bottomed out at the end of FY23 and witnessed huge buying interest among Dalal Street bulls. However, it seems that LIC shares still posses some steam in it.

Tata Power jumped nearly 10% to the day’s high of Rs 322.25 on the NSE on Thursday following an upgrade by brokerage firm JM Financial. The rally ensured that the company’s market cap crossed the Rs 1 lakh crore mark, thus making it the sixth firm from the Tata stable to achieve the coveted milestone.

Cholamandalam Investment & Finance Company Ltd. dropped 0.89 per cent to Rs 1143.75 at 01:50PM (IST) in Thursday's trade. The counter hit a high of Rs 1156.0 and low of Rs 1132.25 so far during the session.

Colgate-Palmolive (India) Ltd. slipped 1.49 per cent to Rs 2297.05 in Thursday's trade as of 02:00PM (IST). The stock hit a high price of Rs 2333.0 and low of Rs 2295.4 during the session.

₹50,000 and expand higher-ticket loans. In an exchange filing on Wednesday, December 6, One97 Communications Limited (OCL) which owns the brand Paytm, said it will further "expand its business to offer higher ticket personal and merchant loans, which would be targeted at lower-risk and high-credit worthy customers, in partnership with large banks and NBFCs (non-bank financial companies)." Besides, the company said it will cut down on smaller loans, keeping in mind the prevailing macro conditions and the Reserve Bank of India's rules on consumer lending.