CLSA retains its 'Outperform' rating on Reliance Industries, citing an "attractive entry point" with a 30% upside to its target price of ₹1,650, driven by new energy projects and potential value unlocking in Jio and Retail businesses. CLSA also sees a potential 72% upside to ₹2,186 if these projects materialize.
Open FlipBrokerage JM Financial said Zomato and Jio Financial Services could be added to Nifty 50 in the upcoming February 2025 review, based on the new F&O inclusions. The announcement for the March rebalancing of the Nifty will be made in February next year. BPCL (Bharat Petroleum) and Eicher Motors are likely to be the exclusions from the index.
Open FlipThe Central Board of Direct Taxes (CBDT) has launched a nationwide review of joint development agreements (JDAs) to identify individuals & Hindu Undivided Families (HUFs) who may have evaded capital gains taxes on property projects, assessing cases from 2020-21 to 2023-24. The CBDT aims to identify and penalize those who have not paid taxes despite receiving completion or occupation certificates.
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