Orienteering Financial News

companies have fixed their record dates this week for the purpose of determining the eligible shareholders for the payout of their dividends. Out of the lot, 5 are Nifty companies, i.e, Ultratech Cement, Maruti Suzuki, Cipla, Divi’s Laboratories and Hero Motocorp. Other names include companies like Vedanta, Oberoi Realty, Sundaram Finance etc.

capital gains tax rates across countries to those in India, we observe a range of approaches, from straightforward percentage rates to complex systems with multiple conditions.

Banks need to devise new strategies to attract depositors, financial services secretary Vivek Joshi said, even as he noted that Indian banks' low-cost deposits, current and savings accounts (CASA), are comfortable at around 41% of their total deposits.

Adani Green Energy Ltd.(up 6.09%), GE Power India Ltd.(up 5.00%), RattanIndia Power Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), Power and Instrumentation(Gujarat)Ltd.(up 5.00%), Karma Energy Ltd.(up 4.99%), Reliance Power Ltd.(up 4.99%), Energy Development Company Ltd.(up 4.99%), GE T&D India Ltd.(up 4.83%) and Inox Wind Energy Ltd.(up 2.80%) stood among the top gainers.

The Orissa Minerals Development Company Ltd.(up 18.39%), KIOCL Ltd.(up 3.78%), MOIL Ltd.(up 3.61%), Ashapura Minechem Ltd.(up 3.51%), Gujarat Mineral Development Corporation Ltd.(up 3.36%), Oriental Trimex Ltd.(up 2.43%), Aro Granite Industries Ltd.(up 2.41%), Sandur Manganese & Iron Ores Ltd.(up 1.79%), 20 Microns Ltd.(up 1.79%) and Coal India Ltd.(up 1.40%) stood among the top gainers.

MRF will likely remain in focus today as the company along with its Q4FY24 results, declared a dividend of Rs 194 per share for its eligible shareholders. The company had fixed July 25 as the record date for this purpose, according to StockEdge data. This means that today is the last date to buy the shares of the company in order to be eligible for the dividend payment.

Budget 2024 presented today by the finance minister Nirmala Sitharaman, will impact the personal finance of individuals in multiple ways. Here's a round-up.

Budget 2024 has proposed to rationalise the holding periods for different asset classes for the purpose of capital gains taxation calculation. The new proposals says that there will be only two holding periods for all asset classes to determine whether the gains are short-term or long term capital gains. The two holding periods will be 12 months and 24 months.

HCL Technologies, Data Patterns and Shriram Finance among a host of other companies are likely to remain in focus on Monday as they declared July 23 as the record date for the purpose of determining the eligible shareholders for the dividend payment. This means that today is the last day to buy the shares of these companies in order to be able to qualify for the dividends announced.

Out of the lot, two are Nifty companies, i.e., HCL Tech and Shriram Finance, along with other names like PFC, MRF, and RBL Bank.

The mutual fund industry is demanding capital gains tax on the units of debt mutual funds held for more than 3 years to be taxed at 10% without indexation, as applicable in respect of Long Term Capital Gains Tax (LTCG) from debentures. The demand has been raised by industry body Association of Mutual Funds in India (Amfi), which in its proposal sent to the Ministry of Finance has said that it was «logical» to do so as this could encourage retail investor participation in bond markets. «We request for an amendment to Finance Act, 2023 and consider the mutual fund units as securities, with long-term capital tax rate thereon should be according to / in line with the capital gains tax on bonds, debentures, SDL and G-secs etc,» the Amfi budget proposal document said.

MRF, PFC and United Breweries are among a host of other companies that are likely to remain in focus this week as they are approaching their record dates for the purpose of dividend declaration, bonus issues and stock split.

Sandip Sabharwal, asksandipsabharwal.com, says tax relief for reviving consumption is essential because consumption is one part of the entire growth basket which has been deeply lagging. Consumption growth has been half the GDP growth. Ultimately GDP growth cannot be sustained unless consumption revives, so that is something we need to see. Markets have been rising almost every day. This kind of frenzied rise did not last. So, people who have a short-term orientation need to be very careful right now. The market rally continues to build. One is just waiting for a dip to buy. Do you see that imminent? Maybe after Budget a sell-off is expected or do you think just deploy, do not wait for that dip at all? Sandip Sabharwal: It makes sense to wait; you cannot buy stocks at all prices. You need to buy and wait for the right opportunity. Now the opportunity will come. We are entering into a phase where the markets are going into a frenzied kind of up move and eventually, we will see a sell-off come in. Now whether that happens next week or next month, it is very tough to break the exact timelines, but it could also be correlated to a correction in the global markets and that could also have a rub-off in India.

queer community lodged in jails can meet a person of their choice without any discrimination or judgement as part of their prison visitation rights. In a communication to all state governments, the Union home ministry said it has been the constant endeavour of the Centre to reach out to all states and Union territories and share the contemporary guidelines and best practices on varied aspects of efficient prison administration and management. The ministry said it has come to its notice that members of the queer community (LGBTQ+) are often discriminated against because of their gender identity or sexual orientation and often face violence and disrespect. With the objective of ensuring that there is no discrimination in access to goods and services to the queer community, which are available to the public at large, especially with reference to prison visitation rights, the home ministry has prepared 'Model Prison Manual, 2016' and the 'Model Prisons and Correctional Services Act 2023' and these should be followed by all state governments and Union territories, it said.

In a stock exchange notice today (18 July), the £420m investment trust said the key changes included a reduced hurdle rate, a fee cap, a high watermark provision and offsetting underperformance against future fees. The hurdle rate, defined as the level of outperformance of the benchmark index at which a performance fee may be payable, will be reduced from 10% to 2%, while underperformance periods will now be accumulated and offset against potential future performance fees. Pershing Square Holdings manager slashes performance fee as Ackman eyes US launch If the combined base and per...

Union budget or in the latter part of the current fiscal year, two people aware of the matter said. The finance minister may allocate ₹4,000-5,000 crore for three public sector insurance companies, one of the two people cited above said, requesting anonymity. "The budget could also provide only a token capital for insurance companies, with more funds released after completing further assessments for fresh requirements," the person said.

Mid cap funds gave maximum returns over an investment horizon of 3-month, 6-months and 1-year period. Large cap funds gave minimum returns over an investment horizon of 1 month, 3 months, 6 months, 1 year, 3 years, 5 years and 10 years, according to ICRA Analytics. In the debt mutual fund category, long-duration funds gave maximum returns over an investment horizon of 1 month, 3 months, 6 months and 1 year. Credit risk funds gave maximum returns over an investment horizon of 3 years. Corporate Bond Fund and Gilt Fund with 10-year Constant Duration gave maximum returns over an investment horizon of 5-years and 10-years respectively

Rail Vikas Nigam (RVNL) and Indian Railway Finance Corporation (IRFC) rallied 15.5% and 9% to their new all-time highs of Rs 567 and Rs 206 respectively on BSE in Monday's trade ahead of the Union Budget, where the focus is likely to be on infrastructure investment. The sentiment around RVNL also remains positive as in the last week, the company signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for participation in upcoming projects in India and abroad.

Japan's benchmark Nikkei 225 has surged to a record close of 40,913.65, leading markets in most of Asia higher

Stocks that were in focus include names like Persistent Systems, which rose 3.63%, Mazagon Dock, which gained 20%, and Orient Cement, whose shares gained 0.082% on Thursday.