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RBI) has made certain adverse observations regarding the conduct of a senior executive chosen to head a state-owned bank. The banking regulator has made certain remarks in a letter on the conduct of Asheesh Pandey, currently an executive director (ED) at Bank of Maharashtra (BoM), and has asked the finance ministry to consider them while evaluating his candidature for the managing director position, said multiple people aware of the development. Pandey, age 54, is shortlisted for the role of MD & CEO at Indian Bank, but still requires final approval from the Appointments Committee of the Cabinet (ACC).

Stocks that were in focus include names like Tata Motors, which rose 0.93%, Adani Wilmar, which gained 1.92%, and PC Jewellers, whose shares jumped 10% on Monday.

Hurricane Beryl has strengthened back into a Category 3 storm and is headed for what could be a direct hit on Mexico’s Caribbean coast resort of Tulum, where authorities are urging tourists to leave white sand beaches

IPO) of Emcure Pharmaceuticals will open for subscription today. Ahead of the issue opening, the company raised Rs 582 crore from anchor investors. Marquee investors who participated in the anchor round include HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life among others.

₹2.1 trillion received in May 2024 has significantly eased the government’s fiscal constraint for the fiscal year 2024-25. CII has recommended that a part of this windfall be used for boosting capital spending by 25% over the revised figure for 2023-24. This would help maintain the upward trajectory of public capital expenditure and help crowd in private investment.

Kotak Institutional Equities and Motilal Oswal Financial Services (MOFSL). While Kotak sees Nifty universe to report flat (0.6%) earnings on a YoY basis, MOFSL estimates a 4% uptick in the net profit for the reporting quarter.

hotels as infrastructure in the upcoming Union Budget. This move aims to boost investment attractiveness and move away from luxury or 'sin goods' categorization. They also seek incentives like tax breaks for eco-friendly practices, emphasizing tourism's potential as a driver of GDP and job creation. «The sector is burdened with high taxation, expensive and multifarious licences, approvals and compliances. Hotels are capital intensive with a long gestation period. Cost of operating hotels is high and largely fixed. This makes investments in hotels risky. There is a need to make hotel investments more attractive with an improved rate of investment and to promote ease of doing business,» Hotel Association of India (HAI) President KB Kachru told news agency PTI. He emphasized that the upcoming Union Budget presents an opportunity to maximize India's hospitality sector contribution towards India Vision 2047 by redefining its policy perspective, shifting away from categorizing hotels as luxury or 'sin' goods.

₹2 lakh per year to ₹5 lakh to add momentum to housing demand.- Long-Term Capital Gains: Bring long-term capital gains at 10% on par with equity shares.- Municipal Charges: Exclude municipal charges from the purview of GST.- GST Reduction: Reduce GST on under-construction properties to make homes more affordable.- Redefine Affordable Housing: Broaden the definition of affordable housing to expand the benefits for homebuyers, thereby boosting end-user demand.- Interest Subsidy: Provide an interest subsidy for first-time homebuyers to boost sales in the real estate sector.- Introduce tax exemptions for rental income to encourage greater investment in residential real estate.4. Industry Status & Budgetary Support:- Industry Status: Grant “Industry" status to the housing sector to incentivize growth and attract significant investment.- Budgetary Allocation: Allocate funds from the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund in the upcoming union budget for FY 2024-2025 with relaxations, including allowing input tax credit under GST and providing incentives for rental housing to achieve the housing-for-all targets.By addressing these expectations, the industry will not only drive growth in the real estate sector but also stimulate demand in various ancillary industries, thereby boosting job creation across these sectors.Overall, the hope is for policy measures that foster sustainable growth and address key challenges facing the industry in the upcoming budget.The author, Pramod Kathuria is Founder and CEO of Easiloan.Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before

tax policy by imposing a 1% Tax Deducted at Source (TDS) on the transfer of Virtual Digital Assets (VDAs), alongside a flat 30% tax on income from these transactions. The Budget also did not allow for set off and carry forward of losses. The taxation framework aimed to monitor VDA transactions, discourage speculative trading, and ensure steady tax revenue. However, recent analyses indicate that these objectives have not been met, prompting calls for urgent reform. Unintended Consequences of the 1% TDS

Eli Lilly has yet to get the nod from India's drug regulator for selling its blockbuster drug Tirzepatide in the country for weight loss, said the American pharmaceutical firm. «The apex drug regulator's subject expert committee (SEC) has so far given a go-ahead for its import and marketing for diabetes and not for weight loss,» Elli Lilly told ET, adding that the «obesity» indication is undergoing review by the Central Drugs Standard Control Organisation (CDSCO). The drug is marketed under the brand name Mounjaro for type 2 diabetes treatment and as Zepbound for weight loss, in the US. Mounjaro has been available in the US since 2022 while Zepbound was approved by the US FDA in November 2023. The company said it has yet to firm up the schedule for launching the drug in India.

SBI) has sought income tax parity on bank fixed deposits (FDs) in line with other asset classes in Budget 2024. «In line with mutual funds and equity markets, we propose that the government should tweak the 'tax on deposits interest' and make flat tax treatment across maturity ladder,» Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said in his suggestions for the Union Budget 2024 which would be presented by Finance Minister Nirmala Sitharaman in the Parliament on July 23.

Rekha Jhunjhunwala has trimmed her stake in midcap counter CRISIL by 8 bps in the June ended quarter at 5.36% from 5.44% in the March quarter. Meanwhile, Ashish Kacholia has raised his holding in smallcap stock Brand Concepts by 6 bps to 1.62% in the June quarter versus 1.56% in the previous three-month period. Jhunjhunwala’s stake cut in CRISIL comes on the back of a lackluster show by the counter. In the last one year, it has returned 13% underperforming Nifty whose returns are to the tune of 25% in the said period. On a year-to-date basis, CRISIL shares have returned less than 1%.

This is an AI-generated live blog and has not been edited by LiveMint staff. Nifty 50 Share Price Today Live Updates: The NIFTY Realty at (0.83%), NIFTY Oil & Gas at (0.32%) & NIFTY Consumer Durables at (0.29%) are currently the top performing sectors among the Sectoral Indices. While NIFTY Bank at (-0.41%), NIFTY PVT Bank at (-0.41%), NIFTY Auto at (-0.39%) are currently the low performing sectors Nifty 50 Share Price Today Live Updates: The Nifty 50 opened at 24459.85 (0.11%) , 26.65 points higher than the previous closing.

Mint spoke with industry experts for their recommendations on what Sitharaman, in her second term as India's finance minister, could include in her full-year budget for FY25 next month.The Union government in its interim budget allocated ₹90,171 crore to the health sector for the financial year 2024-25, up from ₹79,221 crore in FY24. But the industry still feels this is low.“The National Health Policy has proposed an increase in public expenditure on healthcare to 2.5% of GDP by 2025.

Reliance, while Investec and Morgan Stanley have a 'buy' and 'overweight' call on M&M, respectively. Axis Capital has downgraded ICICI Bank to 'add' from 'buy', while Ambuja Cements received a double upgrade from Nomura. Morgan Stanley has maintained an 'overweight' call on IndiGo. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Banks are in a fix over the latest regulation from the Telecom Regulatory Authority of India (Trai) that mandates digital consent for sending commercial communication. Lenders have reached out to the government, seeking clarity on whether consent is needed even for sharing transaction details, a practice currently followed as per Reserve Bank of India (RBI) guidelines, people familiar with the development told ET.

MSMEs within 45 days of buying goods and services to check large corporate from looking at other sourcing avenues, sources said. The announcement to this effect could be made in the Budget likely to be presented on July 23. The government is considering suggestions regarding changes to Section 43B(h) of the Income Tax Act made by MSMEs during pre-Budget consultations, sources said. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country.

Shares of Asian Paints and Berger Paints surged up to 4% in Wednesday's trade on the BSE following reports of a price hike of up to 1% by the paint manufacturing companies. According to reports, Asian Paints has increased prices of its products by 0.7-1% across its portfolio.

IPO) of Bansal Wire sailed through on the first day of the bidding process, driven by robust interest from retail and non-institutional investors. Both NII and retail categories were fully subscribed, while the QIB portion lagged with no bids. The public offer is being conducted via the book-building process, with approximately 50% of the issue reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Corporate technology leaders across industries have been spending big on generative artificial intelligence over the past year. Now, they’re looking for returns to go beyond efficiency gains to actual dollars and cents, even as many admit it isn’t clear if and when they’ll start seeing them. A survey released today by professional-services firm KPMG shows that revenue generation has overtaken productivity as the primary gauge businesses use to measure AI’s return on investment.

Fintech firm Robinhood has announced a new acquisition which will give it enhanced capabilities including AI-powered investment research.