Leading Indian steel producers, including JSW Steel Ltd and Tata Steel Ltd, are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world’s fastest growing economies. A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising.
Open FlipThe liquidity deficit in the banking system is likely to widen this week on the back of outflows on account of GST payments, experts said. This will lead to marginal uptick in yields on short-term debt instruments such as T-bills, commercial papers and CDs, among others. Liquidity in the banking system as on March 18 was pegged at a deficit of around Rs 72,918.47 crore, as per RBI data.
Open Flip⏩Form 12B must be completed by a salaried individual if they join a new organisation in the middle of a year ⏩Under the old tax regime, one could claim a deduction of Rs 1.5 lakh under Section 80C and an additional deduction of Rs 50,000 for NPS contributions ⏩Section 80D allows individuals to claim tax deductions for the part of their yearly taxable income spent on premium payments
Open FlipPublic sector lender Bank of India on Tuesday announced a reduction in new home loan rates to 8.3 per cent from 8.45 per cent and fully waived off processing fees as a limited period offer till the end of this month. The bank claimed that at 8.3 per cent, it has the lowest rate among its peers. For SBI and HDFC Bank, which are the industry leaders, the lowest rate begins at 8.4 per cent.
Open FlipNotwithstanding a slowdown in large economies such as those of US, UK and Europe, India’s economy is seen to be growing since there is a limited impact of other economies on India’s GDP/profit growth. While referring to the sectoral outlook, the report is positive on banks, capital goods and manufacturing. It is neutral on IT and rural consumption and negative on urban consumption and commodities.
Open FlipA sharp sell-off in smallcaps has spooked retail investors. BSE Small cap index is down by more than 7% in March so far. If the broader index benchmark manages to close the month at current levels we will be witnessing the worst monthly performance in the past 2 years by BSE Smallcap index. In February 2022 BSE Smallcap index fell by more than 9%.
Open FlipChicagoans will vote in Tuesday's primary election on whether to increase the tax rate on real estate transfers worth over $1 million in order to raise funds for affordable housing and fighting homelessness. The ballot measure would lower property transfer taxes for the vast majority of Chicago residents, to $3 for every $500 of a transfer price under $1 million.
Open FlipPopular Vehicles and Services had a subdued trading session on its debut on the bourses on March 19. The stock fell more than 6 percent due to muted IPO subscription numbers and weakness in equity markets. Popular Vehicles and Services opened lower at Rs 289.20 on the NSE (which was also its intraday high), down 2 percent compared to the issue price of Rs 295.
Open FlipThose who win the lottery often spend the money unwisely. This is the risk UBS needs to keep in mind on the anniversary of its Credit Suisse windfall. UBS wants to use the Credit Suisse acquisition to expand its investment banking operations in the U.S. Above all, though, it needs to retain the focus on wealth management that is beloved by investors.
Open Flip💰Triveni Turbine Ltd with its stock trading at Rs 486.9, marking a 5.50% increase from the previous close of Rs 461.5. 💰IOL Chemicals and Pharmaceuticals Ltd with its stock trading at Rs 404, representing an 11.60% increase from the previous close of Rs 362 💰Dhani Services Ltd saw a notable surge, with its stock trading at Rs 39.4, reflecting an 8.99% increase from the previous close of Rs 36.1
Open FlipCFF Fluid Control Ltd informed that the company has bagged an order for a biennial rate contract for engineering work for Project-MRLC-2 INS Shankush from Mazagon Dock Shipbuilders. The order is worth Rs 46,46,00,000 and will be delivered by August 2026. Today, shares of CFF Fluid Controls Ltd plunged 0.61% to Rs 451 per share with an intraday high of Rs 461.95 and an intraday low of Rs 451.
Open FlipDomestic equities slumped in trade on Tuesday, and look set to wipe out all gains for the year given the growing uncertainty over the fate of small and midcap stocks. The benchmark Nifty 50 shed over 230 points and the Sensex lost over 700 points to end at 21817.45 points and 72012.05 points, respectively. The BSE Midcap and Smallcap indices dropped 1.4% and 1%.
Open FlipBenchmark indices have dropped over 2% in the last five days, pushing the Sensex into negative territory year-to-date. However, market experts attributed the correction to technical factors and said the fundamental picture still looks good. Investors are cautious ahead of the upcoming US Fed meeting for clues on a potential rate cycle reversal, while rising crude oil prices add to market concerns.
Open FlipSan Jose: India could be among the top priority markets for Nvidia's newly announced ‘Blackwell’ GPUs, with the first shipment expected as early as October this year. Mumbai-based data centre and managed cloud infrastructure provider, Yotta Data Services, is expected to be the benefactor of this early interest. The company has an existing deal with Nvidia to source over 16,000 GPUs.
Open FlipITC Hotels on Tuesday announced the signing of a 55-key property in Uttarakhand's Rishikesh under the Storii brand, boutique properties in the premium segment. "Storii by ITC Hotels is expanding its presence pan India. With the brand Welcomhotel, Fortune, and Welcomheritage already entrenched in this great land, we are looking forward to launching Storii Rishikesh in Uttarakhand.
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