Provident Financial News

Tomorrow's IPL Match: Punjab Kings (PBKS) are set to take on Royal Challengers Bengaluru (RCB) on May 9 at the Himachal Pradesh Cricket Association Stadium in Dharamshala. Having won 4 out of 11 matches, PBKS currently occupies the 8th position on the points table. They have won 2 out of their last 5 matches.

Statement of Accounts: This provides a detailed record of the transactions that have taken place in your account, offering clarity on the movement of funds and securities. Statement of Holdings: This summarises all the assets held in the demat account on a particular date, giving an overview of your current investment portfolio. To access the Consolidated Account Summary on the Central Depository Services Limited platform, follow these steps: PAN Card Number: Enter your PAN card number.

Demat account holders have access to a plethora of educational resources designed to enhance their understanding of investing, trading, and managing their securities portfolio. These resources are typically provided by brokerage firms, depository participants, and financial institutions to empower account holders with the knowledge and skills needed to make informed investment decisions.

₹2 lakh on the interest paid on the loan each year, reducing your taxable income. Moreover, the repayment of the principal amount can also lower your taxable income by up to ₹1.5 lakh annually. Under the old tax regime, first-time homebuyers opting for a home loan can benefit from tax deductions to reduce their tax burden.

Energy solutions provider Polaris on Wednesday said it has secured a contract worth Rs 2,246 crore to install 2.2 million smart meters in West Bengal. «With this order, Polaris has successfully closed orders over Rs 7,700 crore across the geographies of Uttar Pradesh, West Bengal, Manipur, Bihar and Ladakh,» the company said in a statement. The new order worth Rs 2,246 crore in West Bengal is for installation of 2.2 million smart meters in the state. Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these important clusters for the next 10 years. These smart meters will be equipped with state-of-the-art technology, enabling prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities.

LocalMonero, a peer-to-peer trading platform for the privacy-focused cryptocurrency Monero, has decided to shut down its services  with immediate effect . 

NEW DELHI : The government is considering a proposal to scrap the import duty on business jets as the tax introduced a decade-and-half ago has approached the end of its intended tenure. A tax of 2.5% is levied on private and business airplanes that are imported for so-called non-scheduled aircraft operations, while there’s no such tax on commercial jets.

Rekha Jhunjhunwala portfolio: In the midst of significant volatility in the Indian stock market over the past four sessions, even quality stocks with strong face value have not been immune. A prime example is Titan Company shares.

₹7,500 crore to PMJAY this year. Officials from NITI Aayog, health ministry, and private hospitals who held a review meeting of the scheme on 1 May raised concern over the inadequate release of funds by states for the insurance scheme, persons aware of the matter said. “The problem of untimely payments to the hospitals arose when some states like Telangana, and Andhra Pradesh merged their state health scheme into the PMJAY," said Girdhar Gyani, director general, Association of Healthcare Providers of India (AHPI).

Voltas lost over 9 percent in intra-day deals today after the firm posted weak results for the quarter ended March 2024 (Q4FY24). This is the third straight session of decline for the FMEG firm, losing over 15 percent in this period. The firm reported a 22.75 percent drop in its consolidated net profit at ₹110.64 crore for Q4FY24 as against ₹143.23 crore in the corresponding period last year on the back of higher expenses.

top mutual funds in the smallcap category as per the data available on the website of the Association of Mutual Funds in India (AMFI) In the small-cap category, the top-performing mutual funds in terms of five-year returns as of now are Quant Small Cap Fund with a return of 40.66%, followed by Bank of India Small Cap Fund at 33.79%, and Nippon India Small Cap Fund at 32.03%. Edelweiss Small Cap Fund has yielded returns of 30.70%, while Canara Robeco Small Cap Fund stands at 29.82%.

Demat account: How to pledge shares? Here's a step-by-step guide Typically, only shares of listed companies qualify for a loan, and they must not be entities that have been banned or delisted from stock exchanges. The same principle applies to mutual fund units. You have the option to pledge either a portion or the entirety of your securities, depending on the amount needed.

Mint analysis of these firms—Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra—revealed that revenue from the communications and media vertical was down nearly 3% from $8.49 billion in FY23 to $8.25 billion in FY24. Tech Mahindra was almost single-handedly responsible for this decline, having lost $320 million or 12.1% in annual revenue from telecom clients in FY24. A consensus of three analysts compiled by Mint projected a further downside of 3-5% in telecom revenue for the industry’s top five firms in FY25.

shares of Storage Technologies and Automation listed on the BSE SME platform with a premium of 90% on Wednesday. The stock debuted at Rs 148.2 as against an issue price of Rs 78. Ahead of the listing, the company's shares traded with a premium of Rs 50 in the unlisted market.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says “L&T has a visibility of at least two-and-a-half, three years of order book for execution. The situation is also extremely buoyant for ABB, Siemens where the capital goods segment power play is going on currently. From a business perspective, these companies are very favourably placed, but because the valuations are already fully pricing in FY26 earnings per se, it would be better to buy them when the market gives some correction and opportunity for the margin of safety. Let us begin by discussing this new-age tech vertical itself that we used to talk a lot more about and a lot more often rather than what we have seen of late, the likes of Zomato, Nykaa, PB Fintech, Paytm. What within that looks like an attractive bet right now after the kind of price moves that we have seen? Deven Choksey: I do not think that immediately any of these names become very appealing and attractive to me largely because of the few facts. Leave aside Paytm for a while now because the underlying business model has to get re-established before we have any view on Paytm. However, Zomato is showing a better approach towards revenue collection and becoming more profitable.

The dematerialisation of shares has revolutionised the way investors participate in the stock market, streamlining the process and making it more accessible. A key element of this transformation is the demat account, which allows for the electronic holding and trading of securities. While individual investors are well-versed with the concept of demat accounts, one of the questions is: Can trusts open a demat account in India?

Margin Trading Facility (MTF) is a service provided by select brokers in India that allows investors to purchase securities by paying only a portion of the total transaction value, known as the margin. This margin can be paid either in cash or through shares held as collateral.

gold is the most popular way of owning gold, either in jewellery or gold coins. “Gold buying on this day is considered very auspicious by Hindus, especially though it brings wealth and happiness," said Ashish Aggarwal, Director, Acube Ventures Ashish Aggarwal points out that storing your investment in secure vaults reduces physical storage and transportation issues and protects it from theft and other risks. Sovereign Gold Bonds (SGBs) are the perfect alternative to investment in physical gold.

Buy or sell stocks for today: After showing a sideways movement (a term used to describe a market that is neither trending up nor down) with a weak bias (a slight inclination towards a particular direction) on Monday, the Indian stock market slipped into the weakness zone (a period of declining prices) with range-bound action (a situation where the price of a security trades in a narrow band) and ended lower on Tuesday. The Nifty 50 index dipped 140 points and closed at the 22,302 mark, the BSE Sensex corrected 383 points and closed at the 73,511 level, while the Bank Nifty index lost 609 points and finished at the 48,285 mark.

Hero MotoCorp, Voltas, PB Fintech, LTIMindtree among others will be in focus due to various news developments and quarterly earnings. L&T, Tata Power, Canara Bank, Hero Moto, BSE Shares of L&T, Tata Power, Canara Bank, Hero Moto and BSE will be in focus today as the companies will announce their fourth quarter results.

Wildfires are already burning in parts of Western Canada and with warnings of a particularly active season yet again this year, the country’s largest property and casualty insurer is testing a pilot project to help eligible Canadians protect their homes.