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earnings downgrade from Nuvama versus its earlier estimates of 15%. Cyclicals such as autos, industrials and metals faced earnings cuts while the same stabilised for IT and FMCG packs. Among key trends observed during the quarter, in domestic consumption, the gap between high-end and mass market demand narrowed with stronger segments such as passenger vehicles, hotels and jewellery slowing. FMCG, on the other hand, stabilised and durables posted a strong quarter owing to the heatwave, the Nuvama note said.

Congress MP Randeep Surjewala accused the BJP-led Haryana government of cheating the people of the state ahead of assembly polls in the state in October. Congress MP Randeep Surjewala said «The 10-year tenure of atrocities of the Bharatiya Janata Party has come to an end. In the last 10 years, there is no class left that has not been cheated by the BJP.» «The people of Haryana are going to initiate the end of the Bharatiya Janata Party on October 1», the Congress leader said.

MUMBAI : Imagine you receive a gift of substantial value, e.g., cash from your father or an apartment from your uncle. Are you liable to pay taxes on it? No, you aren't. However, if the gift were from a non-relative, let's say a friend, you would've needed to pay taxes to be on the right side of the law.

cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a «non-intrusive» manner, the CBDT has asked the I-T department. The apex body for direct taxes administration in the country — the Central Board of Direct Taxes — has also asked the tax department to undertake «concerted efforts» to recover arrear demands which have been witnessing a «steep rise» since the last financial year. The CBDT recently issued an annual action plan dossier called the central action plan (CAP) 2024-25. Senior officials told PTI that transactions over Rs 2 lakh in cash were required to be reported through a statement of financial transaction (SFT) by financial institutions but that was not happening.

Elections in Maharashtra may be held only after Diwali, i.e. after November 2, according to the Times of India. Notably, a new government in Maharashtra needs to be constituted before November 26, the end date of the current administration's tenure. The Election Commission of India has announced election dates for Jammu and Kashmir and Haryana but not for Maharashtra. Chief Election Commissioner Rajiv Kumar cited security concerns in Jammu and Kashmir as the primary reason for deferring Maharashtra's elections. Additionally, he mentioned that the updating of the voter list in Maharashtra was delayed due to the ongoing monsoon season. The state is also currently engaged in significant cultural and religious activities, including Ganesh Chaturthi, Pitru Paksha, and Diwali, which complicates the electoral process if elections are held immediately. Sources within the ruling party indicated the importance of smooth observance of Janmashtami and the Ganesh festival. They noted that Pitru Paksha, a period in which no auspicious work is undertaken, follows these festivals. «Navratri is a busy season and then Dussera, which will be followed by Diwali. Festivities end on November 2, and the election campaign can be taken up from November 3,» they added.

malls in Noida and Gurugram (Gurgaon), including the well-known DLF Mall of India and Ambience Mall, received bomb threats via email at 10 am on Saturday, reported ANI, citing the chief civil defence team. «After receiving the email, the district administration started search operations in the malls. Police administration, dog squad, civil defence team are engaged in the search,» said Mohit Sharma, Chief Civil Defence Team, Gurugram.

The industries department of the Delhi government has also collected feedback from stakeholders and the general public on three policies — Delhi Electronic System Design, Manufacturing and Refurbishment (ESDMR) Policy 2022-27, City Logistics Policy, and Industrial and Economic Development Policy 2023–33. This feedback will also be shared with the cabinet as and when it meets, sources told ToI. “We are ready with our draft proposal. We will start rolling them out once we get approval from the cabinet and the policies are notified,” said a Delhi govt official.

A survey conducted by the Indian Medical Association (IMA) puts a number to the alarming extent of stress and fear among doctors. According to the survey, 82.7% of doctors experience significant stress in their profession, 62.8% fear violence and 46.3% identify violence as a major source of their stress. These figures illustrate the growing concern regarding the safety and well-being of medical professionals, reported ToI. «The present Bill not only merely focuses on punishment but also addresses the other parameters which lead to violence. It will ensure that all the healthcare service personnel have the right to work in a safe and secure work place which is free of violence and also secure the rights of patients,» said the official document.

Uttar Pradesh’s Muzaffarnagar marked Independence day with a unique protest. Along with the Bharatiya Kisan Union (BKU) workers, the villagers spent 12 hours in the water of Hindon river to demand a bridge, reported TOI. The protest began on Thursday morning when the villagers held the national flag and entered the river to begin the indefinite strike. They highlighted the urgent of their demand by singing the national anthem in the water. “Villagers have been asking for a bridge over the Hindon River for years. The lack of one has caused significant hardship, particularly for farmers who need to cross the river to reach their fields. Despite previous protests and promises from the administratitration, the bridge is yet to be built," BKU Youth Wing President Vikas Sharma told TOI

Congress on Saturday claimed the government has gone back on its promise and is finalising plans to privatise the Nagarnar Steel Plant in Chhattisgarh's Bastar after «failing to heed the words» of the state's political leadership. The opposition party's general secretary in-charge communications Jairam Ramesh posted on X a media report that claimed the Union Ministry of Finance is likely to invite financial bids for Chhattisgarh-based NMDC Steel (NSL) in the next two months. «Kya hua tera waada, Woh kasam woh irada! It appears that NMDC Steel in Bastar will now definitely be privatized before the end of FY25. »Aap chronology samajhiye: On October 3, 2023, the non-biological PM inaugurated the Steel Plant and promised that the Nagarnar Steel Plant is the property of the people of Bastar and will remain with them," Ramesh said in a post on X.

Africa but now reported outside the continent. While Mpox spreads more slowly than the novel coronavirus, it can still be lethal, depending on the strain. Cases detected in Sweden, Pakistan Sweden said a person who had got back from Africa has tested positive for mpox. The case was identified a day after World Health Organization (WHO) declared the latest outbreak of the disease as a public health emergency of international concern and warned that Europe could see more imported cases. On Friday, Pakistan became the second country outside Africa to report a positive case. The patient had returned from a Gulf country. Pakistani health authorities said tests were underway to determine the variant involved.

tariffs slowed the influx of Chinese-made electric vehicles in July, as the bloc moved to protect its automakers from low-cost competition. The number of new EVs that Chinese automakers like BYD Co. and SAIC Motor Corp.’s MG registered in the EU last month fell 45% from June, according to research from Dataforce, which compiled results across the 16 member countries that have reported July figures to date. The drop may have been exaggerated by carmakers rushing to get EVs to dealers before the added levies took effect July 5.

The S&P 500 and the Nasdaq notched their seventh straight session of gains, as stocks recouped losses from a tailspin two weeks ago. The sell-off, sparked by weak economic data and heightened recession fears, confirmed the Nasdaq had entered correction territory.

OpenAI said on Friday it had taken down accounts of an Iranian group for using its ChatGPT chatbot to generate content meant for influencing the U.S. presidential election and other issues. The operation, identified as Storm-2035, used ChatGPT to generate content focused on topics such as commentary on the candidates on both sides in the U.S. elections, the conflict in Gaza and Israel's presence at the Olympic Games and then shared it via social media accounts and websites. Investigation by the Microsoft-backed AI company showed that ChatGPT was used for generating long-form articles and shorter social media comments.

America's Got Talent in 2013. Kurtz was known for his witty replies and funny reactions, which has helped him rock the stage many times until last day, when he met with a fatal accident in major hit and run incident, and passed away. He was 73.

tender process to procure graphic processing units (GPUs) and provide services to users under the India Artificial Intelligence (IndiaAI) Mission, sources told ET. The ministry of electronics and information technology is likely to float the tender to procure 1000 GPUs or equivalent AI compute capacity for now, a source said. The winning bidder will provide services for three years for now, which may be extended on mutually agreeable terms by the government. On July 5, ET had exclusively reported that the IT ministry was likely to allow only Indian companies to run and manage the operations of GPUs to be procured under the Rs 10,372 crore India AI Mission.

Sabarmati Express derailed between Kanpur and Bhimsen stations in Uttar Pradesh early Saturday morning. Fortunately, no injuries or fatalities have been reported. Seven trains have been cancelled, and three diverted due to the incident. Emergency services, including buses and a MEMU train, were arranged to transport passengers to Kanpur. This comes at a time when India is seeing an increasing number of train mishaps that have killed hundreds over the last one year. However in this case, no injuries or fatalities were reported so far. «No injury to any person has been reported as of now. We are trying to find details regarding the number of coaches derailed,» stated a Railway Board official.

Vice President Kamala Harris has proposed a ban on “price gouging” by food suppliers and grocery stores, as part of a broader agenda aimed at lowering the cost of housing, medicine, and food

Five people have been charged in connection with Matthew Perry’s death from a ketamine overdose last year, including the actor’s assistant and two doctors.

U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November