Trade Financial News

NEW DELHI : Citizens always eagerly wait for the budget in the hope of getting more tax benefits. While the clamour for tax deductions grows, one aspect that is worrisome is the retail participation in high-risk investments like derivatives, intraday trading and high-fixed-return schemes. Driven by the stupendous performance and high taxation on regulated schemes, investors across age groups are investing in instruments that could carry much higher risk than they understand or can accept.

Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce

Tata Power Company Ltd. rose 0.81 per cent to Rs 440.8 at 10:35AM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 208,404 shares with a turnover of Rs 9.18 crore till 10:35AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 38.14, while the price-to-book value ratio stood at 3.89.

Five weeks annual leave is an idea whose time may have come. A decade ago, a Productivity Commission inquiry into Australia's industrial relations system, recommended governments periodically «examine whether there are any grounds for extending the existing 20 days of paid annual leave». Now, with the Shop Distributive and Allied Employees Association pushing for an extra week of annual leave for 1.3 million retail and fast food workers, the issue may be about to get a serious hearing.

Au Small Finance Bank Ltd. traded 1.35 per cent up at Rs 641.9 on Friday at around 10:55AM (IST), while the benchmark BSE Sensex advanced 531.48 points to 80428.82. As many as 8,023 shares changed hands on the counter with a total value of Rs 0.52 crore.

Narendra Modi has said. In a written message to the Jain International Trade Organisation (JITO) on the seventh foundation day of its incubation innovation fund, Modi said that the kind of optimism and trust being seen worldwide for India is a reflection of the country's strength. «India is a nation of immense possibilities. The participation of our countrymen doing excellent work in various fields and their enthusiasm to develop the country is our biggest strength,» Modi said. The Prime Minister has set a target to make India a developed nation by 2047 with a focus on the use of technology.

Check out the companies making headlines after the bell: 

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commerce ministry has sought views of different departments on proposed measures to revive special economic zones and facilitate business transactions between SEZ and the domestic market, a senior official said on Monday. The official said that the ministry has suggested allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs as that would help promote value addition. «The main issue in SEZs is that we are not able to get economies of scale. The connect between SEZs and the domestic tariff area (DTA) or domestic market has to be improved. There are also issues if DTA is selling to SEZs,» the official said. «So we have suggested duty foregone basis sales. There are also issues with regards to job work. For example if an IT firm has to get some work from the domestic market, they need permission. We have sent a draft cabinet note,» the official added.

critical minerals and their processing besides battery production, Commerce Secretary Sunil Barthwal said on Monday. Both countries have signed an interim free trade agreement and are in negotiations to expand that into a comprehensive pact, he said. «We are looking at how we can integrate our (India and Australia) economies in terms of battery production, in terms of mineral production, in terms of mineral processing, in terms of vehicle production,» the secretary said here at a conference on the roadmap for vehicle electrification. He also said that the government has taken a series of steps to promote domestic manufacturing of electric vehicles (EVs) and strengthened the ecosystem around that like boosting charging infrastructure.

Decentralized predictions platform Polymarket surpassed $100 million in monthly trading volume in June as anticipation builds around the outcome of the United States presidential election.

Keith Gill, known as Roaring Kitty, has been accused of securities fraud in a class-action lawsuit concerning GameStop. The lawsuit alleges that his social media posts caused volatility in GameStop stock prices between May and June.

Japanese tech conglomerate Sony Group has acquired crypto firm Amber Japan, officially debuting into the crypto exchange arena.

Big law firms and legal experts from major banks are making a bold move into the crypto industry, aiming to capitalize on its lucrative potential.

Also Read: Sebi tweaks stocks’ F&O norms, curbs use of finfluencers Any losses from these instruments can be used to set off against other business income of the assessment year or carried forward and set off against business income for the subsequent eight years. This provision has provided a cushion for traders against the volatile nature of the F&O market. F&O traders rely on trend analysis and probability computations that require years of experience and knowledge about markets and trends.

Earlier this month, the Securities and Exchange Board of India (Sebi) launched a certification exam for retail investors. This free online exam tests the knowledge of individuals new to the securities market. 

In less than one year, India’s solar-cell manufacturing capacity will increase to 30 gigawatts from 6. These cells go into solar photovoltaic modules, whose capacity will also double to 150 gigawatts in two years. This will not only meet domestic demand but might also make India an exporter.

Adani Power Ltd. traded 0.11 per cent down in Monday's trade at 12:07PM (IST). Around 83,172 shares changed hands on the counter. The scrip opened at Rs 718.6 and touched an intraday high and low of Rs 722.6 and Rs 712.7, respectively, in the session so far. The stock of Adani Power Ltd. quoted a 52-week high of Rs 896.75 and a 52-week low of Rs 235.7.

Wockhardt rallied 18% in early trade to its new 52-week high of Rs 811.50 on NSE. The sharp surge was after the company announced the successful use of its investigational antibiotic, Zaynich (Zidebactam/CefepimeWCK 5222) to treat a cancer patient in the US. The hospital (Children's Hospital of Orange County) sought access to Zaynich, for a young immune-compromised cancer patient, who had been hospitalized for nearly nine months, under a provision termed as ‘Expanded Access IND’ granted by the USFDA.

ICICI Prudential Life Insurance Company Ltd. gained 1.6 per cent to Rs 615.3 in Monday's session as of 12:17PM (IST) even as the equity benchmark Sensex traded 334.21 points higher at 79366.94. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 640.8 and a 52-week low of Rs 463.5 on NSE. Around 9370 shares changed hands on the counter till 12:17PM (IST).

On the options front, the maximum Call OI is placed at 24,200 and then towards 24,000 strikes, while the maximum Put OI is placed at 24,000 and then towards 23,800 strikes.