Experts Financial News

Insurance has been there even before we evolved into human beings. It existed in the animal world and the earliest forms of civilization, and it shall exist till there is life on this planet. If you look at animals, they move in a herd so that they're able to protect each other, and if something goes wrong with one of them, the others are there to support them. Similarly, in early civilizations, humans stayed together in caves or villages and took care of each other.

Varun Goel, Head- Equity AIF, Nippon India MF, says “that the wires and cables and the building material companies are riding the real estate growth spurt which may continue for the next few years. As such, the growth will definitely be strong though the valuations in some of these names have run up, especially on the wires and cables and some of the ancillary space. One needs to be a little careful in terms of incremental buying from this point onwards.” What is your take on the home improvement theme? A lot of those stocks are doing well, whether it is consumer durables or whether it is the specialized names or the cable companies. How do you justify the valuations? Our sense is that we are looking at a revival in the residential real estate cycle.

Nifty 50 has net gained more than 13%, and one sector that has contributed significantly to this is the information technology pack despite the hullabaloo around global slowdown and earnings growth risks for the sector. The outperformance of IT stocks, which enjoy the second highest weightage in Nifty 50, to banks, has helped the 50-stock index move past the psychologically-crucial 20000-mark. In the first half of FY24, while the Nifty IT index has gained 11%, Nifty Bank has added over 9%. Of the 10 constituents of the Nifty IT index, eight of them have given double-digit returns in the April-September period. One must note that the stellar gains in stocks have come even after most technology majors gave a bleak outlook for earnings growth in FY24 amid the economic slowdown in the US and Europe.

Key Takeaways

Pickleball tournament in Mumbai saw the highest number of participants at 470 and a record number of over 15 sponsors, including Skechers, Decathlon, Selkirk, Franklin, and Pickleball United. Pickleball, often described as a combination of tennis, ping-pong and badminton, has grown nearly 40% in the last three years — making it America's fastest-growing sport. A relatively new and emerging sport in India, it is gaining popularity across age brackets and among CEOs.

NEW DELHI : The new Goods and Services Tax (GST) regime of 28% tax on online money games, casinos and horse racing has kicked in from Sunday with Union government issuing orders on norms to be followed covering taxes to be collected by Centre and the Union Territories. Some states are in the process of notifying legislative changes for the part of taxes to be collected by them. The new regime kicks in amid intense litigation around the regime that existed till today with Supreme Court last month issuing a stay order on a Karnataka HC decision, favouring an online gaming company.

In the ever-evolving landscape of cryptocurrencies, HarryPotterObamaSonic10Inu has recently made headlines, recording a robust 14% surge. 

PTI citing experts. The six-member monetary policy committee (MPC)-headed by RBI governor Skhatikanta Das is scheduled to meet for three days beginning October 4. The RBI will announce the decision on Friday (October 6).

By David Morgan

net sellers and pulled out of over Rs 14,767 crore from Indian equities in September, primarily due to dollar appreciation, steady rise in the US bond yields, and a spike in crude oil prices. Going forward, the outlook for FPI flows in India is uncertain, as it will depend on the performance of the Indian economy, the RBI's October monetary policy, and the outcome of the September quarter earnings, Mayank Mehra, smallcase, manager and principal partner at Craving Alpha, said. According to data with the depositories, Foreign Portfolio Investors (FPIs) have sold shares to the tune of Rs 14,767 crore in September.

₹16,026cr on 27th Sept while net inflow from DIIs is ₹14,230cr as on 21st Sept. During this month, selling was also noticed at HNI’s desk especially in the mid & small counters. Maybe contemplating to book profit after the solid performance of the category in FY24 during April to August.

Collingwood’s nail-biting AFL grand final win over the Brisbane Lions on Saturday delivered the Seven Network the biggest TV audience of the year – outside the FIFA Women’s World Cup.

Tata Consultancy Services will kick-off the second quarter earnings season by announcing its results on October 11. The Board will also consider paying an interim dividend to investors for the financial year 2023-24. «A meeting of the Board of Directors of Tata Consultancy Services is scheduled on October 11 to approve and take on record the audited condensed standalone and consolidated financial results of the company and consider declaration of second interim dividend to the equity shareholders,» the company said in a filing. The record date for the second interim dividend is fixed as October 19. The dividend, if declared, will be paid to the equity shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date. Shares of TCS will likely trade ex-dividend on the day or a day before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

Rs 2000 bank notes from September 30, 2023.

share allotment of Updater Services was likely finalised on Friday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

income tax audit report under section 44AB of the Income Tax Act, 1961, has not been extended by the income tax department. If a taxpayer has not submitted the audit report on or before September 30, 2023, they can still do it, albeit by paying a penalty. The Income Tax Act levies a penalty of 0.5% of the total sales/turnover/gross receipts (whichever is applicable) or Rs 1.5 lakh whichever is lower, for late submission of tax audit report. It is important to note that if the income tax return is filed without the submission of an audit report, then it will be considered as a defective ITR.

oil prices may have a marginal impact on India's FY24 wholesale and retail inflation, said economists. However, they said crude sustaining above the $90-level could be a downside risk for core inflation as companies begin passing on high input costs. «Unless retail fuel prices change, there is no direct impact of higher oil prices on Consumer Price Index.

The increasing number of job seekers reflects their concerns about the GST’s potential effects on their future. Experts from over half-a-dozen staffing firms told ET that this trend has become particularly pronounced in recent weeks.

Despite high anticipation for the next bull run, Bitcoin ($BTC) can be seen struggling around the $26,000 mark as the dollar peaks. In the midst of this uncertainty, traders are turning their attention to InQubeta ($QUBE) after the project successfully raised $3.25 million in its ongoing presale.

So, what is the trend I am all set to set according to My Lucky Birthday Book? Being not first in line, but last, when it comes to buying technological products and services. Take the iPhone 15. Experts expect a jump in sales for the latest line this year from last year's iPhone 14 range, especially with models now being assembled/made (choose your verb depending on whether you're a Raghuram Rajaane jaan or not) in India.

September performance in terms of property registrations and stamp duty revenue collections, as robust demand boosted sales momentum despite higher mortgage rates and real estate prices. The country’s largest and most expensive realty market saw registration of over 10,602 properties during the month, up 23% from a year ago, while revenue collection through stamp duty charges rose 53% on-year to contribute over Rs 1,124 crore to the state’s exchequer, showed data from Maharashtra’s inspector general of registration. Real estate developers and industry experts are of the view that the momentum in property sales will continue in the upcoming festive season. «The robust response from homebuyers during the month of Ganesh Utsav indicates the positive sentiments towards home ownership despite higher mortgage rates,” said Sandeep Runwal, president, NAREDCO Maharashtra and MD at Runwal Developers. “Based on the current enquiry levels, we can certainly see a strong sales momentum in the upcoming festive season starting with Navratri.» Of the total properties registered in the month, 82% were residential apartments while commercial and other segments constituted the remaining 18%. «The Mumbai residential market continues to display remarkable resilience, consistently surpassing the 10,000-property mark,” said Shishir Baijal, CMD, Knight Frank India.