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Tamil Nadu assembly on Friday unanimously passed a resolution against the National Eligibility-cum-Entrance Test and urged the Union government to scrap the test. The resolution called for state governments to be allowed to undertake medical admissions based on class 12 marks, as was done before NEET was introduced. The resolution was introduced by chief minister MK Stalin. The resolution was passed with support from legislators from the ruling alliance parties, including MMK, DMDK, TVK and the CPI(M), as well as PMK, amid a boycott by BJP. The resolution also nudged the Union government to approve a bill passed by the House in 2022 seeking exemption from NEET for students from the state. Abolition of NEET has also been one of MK Stalin's and the DMK's election promises.

Sebi on Friday cancelled the registration of LFS Broking and barred its MD Saiyad Jiyajur Rahaman from being employed or associated with any registered intermediary for five years for violating market norms. The regulator also cancelled the registrations of LFS Broking as a stockbroker, portfolio manager, depository participant, and research analyst. «I note that since the Noticee No. 2 (Saiyad Jiyajur Rahaman) has not acted with integrity, and honesty and has not displayed ethical behaviour and fairness, he ceases to be a fit and proper person in terms of the Intermediaries Regulations,» Sebi's Whole time member Kamlesh C Varshney said in the 56-page order.

Reserve Bank of India on Friday upwardly revised the aggregate Ways and Means Advances (WMA) limit of state governments and Union Territories to Rs 60,118 crore effective July 1, 2024. The existing limit is Rs 47,010 crore. The WMA are temporary advances given by the RBI to the central, state governments and UTs to tide over any mismatch in receipts and payments. The limits have been revised based on the recommendations made by the group constituted by the central bank, consisting of select state finance secretaries to take account of the expenditure data of states for recent years.

rainfall in the capital on Friday, the roof of Terminal 1 at the Indira Gandhi International Airport collapsed, resulting in one fatality and six injuries. This incident has sparked a blame game between the Modi government and the opposition. Political Accusations Amid Tragedy Following the collapse, Congress President Mallikarjun Kharge blamed «corruption and criminal negligence» during the Modi government's tenure for the infrastructure failure.

FATF rating obtained by India will enable domestic companies to access overseas investments without going through elaborate background checks and enhanced due diligence process, highly placed sources said. The global crime watchdog, FATF on Friday adopted mutual evaluation report on India and placed the country in «regular follow-up» category. The Financial Action Task Force (FATF) hailed India for achieving high level of technical compliance. It said the country's efforts towards anti-money laundering (AML) and countering of terror financing (CFT) are achieving good results.

The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate form ensures precise and streamlined reporting of your income. 

The NTA reform panel has initiated a call for suggestions from stakeholders, including students and parents, regarding examination reforms, setting a deadline of July 7. This move follows the establishment of a high-level committee comprising seven experts tasked with ensuring the transparent, smooth, and fair conduct of examinations. The decision to form this expert panel comes amidst recent controversies surrounding the National Eligibility cum Entrance Test (NEET) 2024.

«But overall market remains up. Having moved above the initial resistance of around 24,000, I am expecting Nifty to move towards the 24,450 to 24,500 in the near term,» says Nagaraj Shetti, HDFC Securities. And yes, you have markets that are scaling brand new highs every single day, but we are seeing that there are some bouts of profit booking or some sort of a consolidatory phase actually kicking in for the markets. Are you witnessing that on the charts as well? Nagaraj Shetti: Market has been in a continuous uptrend since after the upside breakout of the range movement. The overall chart pattern is looking still positive, though market is placed at the higher levels. Still, there is no indication of any reversal pattern confirming at the higher levels. There may be some volatility at the highs or maybe a smaller intraday correction in between. But overall market remains up. Having moved above the initial resistance of around 24,000, I am expecting Nifty to move towards the 24,450 to 24,500 in the near term.

ICICI Lombard General Insurance Company Ltd. traded 0.51 per cent up at Rs 1803.9 at 01:29PM (IST) on Friday, even as BSE benchmark Sensex gained 14.59 points to 79257.77. The stock had settled at Rs 1794.6 in the previous session. The stock quoted a 52-week high price of Rs 1814.7 and 52-week low of Rs 1266.0, respectively. As per BSE data, total traded volume on the counter till 01:29PM (IST) stood at 7939 shares with a turnover of Rs 1.42 crore.

Quant Mutual Fund schemes in the last 4 days ever since the Sebi investigation came into limelight. So far in the week, NAVs of 11 Quant schemes, including Quant Large Cap Fund, Quant Flexi Cap Fund, Quant Focused Fund, Quant Absolute Fund, and Quant Momentum Fund, have actually increased while there has been some impact on the returns of the remaining 16 schemes. The net asset value of two Quant schemes was up by 1% in the last four days. The NAV of Quant ESG Equity Fund and Quant Focused Fund was up by 1.16% and 1% respectively.

The category reserved for non-institutional investors was subscribed the most at 94 times, followed by retail investors at 34 times and QIB investors at just over 9 times.

Sebi approving a revision in eligibility criteria for entry and exit of stocks in the derivatives market, Jio Financial Services and Zomato have high chances of earning a seat in the bluechip Nifty50 stocks. «If we assume Jio Financial and Zomato make it to the F&O segment before the third week of August, then there is a very high chance of them making it to the Nifty 50 in the September review,» according to an analysis by Nuvama Alternative & Quantitative Research.

India Cements have rallied 33% in this week so far attaining a new all-time high of Rs 308.10 in Friday’s session after a 24% stake of the company was bought by UltraTech Cement. Ace investor Radhakishan Damani and related entities had sold around 6.91 crore shares or about 24% stake in India Cements to Ultratech Cement through a block deal on Thursday.

Ambuja Cements Ltd. rose 0.96 per cent to Rs 666.9 in Friday's trade as of 10:51AM (IST) even as the benchmark Nifty ruled at 24127.85, up 83.35 points. The scrip had closed at Rs 660.55 in the previous session. The stock quoted a 52-week low of Rs 404.0 and a high of Rs 690.0. The company quoted a market-cap of Rs 163600.66 crore on the BSE.

Allied Blenders and Distillers received a robust response from investors for its IPO with an overall subscription of 24 times at close. The company will likely finalise the share allotment today. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website. Firstly, here's how you can know the status on BSE

Stock Market News: The key domestic equity indices, the Sensex and the Nifty 50, opened Friday's trading at new all-time highs. Reliance Industries, the oil-to-telecom behemoth that has led this week's advances, was once again in the spotlight following the announcement of tariff hikes by its telecom subsidiary Jio.In the initial trading, the Nifty 50 started up 41.40 points, or 0.17%, at 24,085.90, while the Sensex rose 214.40 points, or 0.27%, to 79,457.58.Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, believes that the Sensex might reach 80,000 due to market momentum.

Vivek Jain, Head of Investments, Policybazaar.com, says if you are still below 40, you can go for a market-linked retirement plan because your risk appetite is higher and you have a longer horizon. Hopefully, you will get good returns if you stay in the stock market you have for 20-odd years. But if you are closer to retirement, 50-55 years old, then you should put in most of your savings in a guaranteed kind of pension plan. Retirement is a very crucial goal for a lot of us, we have seen that more than planning it in an investment-based way, a lot of people prefer buying retirement products from life insurance. Typically what are those products that we are talking about? We will get into the aspect where we can discuss if it is better than any other investment avenue.

stocks and strong support from Reliance Industries (RIL), which was one of the top contributors, just behind Infosys. The 30-stock S&P BSE Sensex reached a new high of 79,396.03 before closing at 79,278.78, up by 604.53 points or 0.77%. Meanwhile, the broader Nifty crossed the 24,000 mark for the first time, hitting a record high of 24,087.45 before ending the day at 24,044.50, gaining 175.70 points or 0.74%.

Sensex and Nifty on Friday rallied for the fifth consecutive day on Friday to scale fresh 52-week high amid buying across sectors and bluechips. Sensex rallied over 250 points to cross the 79,500-level, while Nifty also scaled a new peak of 24,124.25 in the morning session. Within the blue-chip Nifty50 pack, ONGC, Divi's Lab and Coal India were the top gainers by rallying around 2% each. Telecom stocks were in focus today after Reliance Jio and Bharti Airtel raised tariffs. Both the stocks were trading around 1% higher.

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Vraj Iron and Steel IPO price band of ₹195 to ₹207 per equity share, aiming to raise ₹171 crore from its public offer through the issuance of fresh shares. The strong subscription status in the primary market suggests a positive sentiment towards this mainboard IPO.