Category: Finance
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Sensex, Nifty Drop 1%: Unpacking the Causes of Today’s Stock Market Volatility !
In Short Friday saw a severe decline in domestic stock markets, with the NSE Nifty50 falling more than 1% and the BSE Sensex plunging over 900 points.In the middle of the morning, the Nifty50 had dropped to 24,889, while the Sensex was trading at about 81,317.According to Santosh Meena, Head of Research at Swastika Investmart…
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Adani Group Stocks Plummet 17% Amidst Latest Hindenburg Report !
In summary, Shares of the Adani group experienced a decline of up to 17% during early trading on Monday, following new allegations made by the US-based short-selling firm Hindenburg Research. On Saturday, Hindenburg Research asserted that whistleblower documents indicate that Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (Sebi), held…
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Hindenburg Doubles Down: SEBI Chief Madhabi Buch’s Response Confirms New Developments
The allegations from the U.S. short-seller emerged shortly after Sebi and Buch, along with her husband, strongly refuted claims of favoritism towards business magnate Gautam Adani and his enterprises. In a joint statement, the Buchs characterized the accusations as “unfounded allegations and insinuations” lacking any basis in reality. Hindenburg, which has been engaged in a…
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RBI Holds Steady: Repo Rate Remains at 6.5% in Latest Monetary Policy Meeting !
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), announced the bi-monthly monetary policy statement on Thursday, August 8, maintaining the repo rate at 6.5%, which is the rate for short-term loans to banks. The Governor indicated that inflation and economic growth are progressing in a balanced manner, although caution is necessary regarding…
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Nitin Gadkari Requests FM Sitharaman to Abolish 18% GST on Life and Medical Insurance Premiums: Report !
Union Minister for Road, Transport and Highways, Nitin Gadkari, has called upon Finance Minister Nirmala Sitharaman to eliminate the 18 percent Goods and Services Tax (GST) imposed on life and medical insurance premiums. He argues that this tax burdens individuals with the uncertainties of life and hinders the growth of the insurance sector, as reported…
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Eligibility criteria for filing income tax return after the deadline of July 31, 2024?
The deadline for submitting your Income Tax Return (ITR) for the financial year 2023-24 is July 31, 2024. Failure to file your ITR by this date will result in a penalty, the amount of which is determined by your income level. There is a common inquiry regarding who is eligible to file their ITR even…
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Vijay Mallya Faces Three-Year Ban from Securities Market by SEBI
India’s markets regulator, Securities and Exchange Board of India (Sebi), has recently issued an order that prohibits fugitive businessman Vijay Mallya from participating in the securities market for a period of three years. This decision was made after discovering that Mallya had channeled funds into the Indian securities market using intricate transactions to conceal his…
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“SEBI Labels L&T AMC Exoneration ‘Erroneous,’ Slaps Rs 5 Lakh Fine on HSBC AMC”
Sebi has fined HSBC Asset Management (India) Rs 5 lakh after finding that a 2023 order which cleared the fund house during an investigation was incorrect. The penalty is related to activities by L&T AMC, which was purchased by HSBC Group in May 2023 and later merged with HSBC AMC in October 2023. Sebi was…
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Tata Motors Shares Zoom Past Rs 1,100 Level to Hit Fresh 52-Week High: Analyzing the Strength of This Upside !
Tata Motors shares extended their impressive rally for the third consecutive day during Friday’s trading session. The stock surged by 1.74 percent, reaching a one-year peak of Rs 1,110. It was last observed trading 1.23 percent higher at Rs 1,104.50. At this level, the scrip has accumulated a 39.72 percent gain on a year-to-date (YTD)…
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“Union Budget 2024: Top 5 Key Highlights for Salaried Employees and Job Seekers”
In the Monsoon Session of Parliament, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024-25, marking her achievement as the first finance minister to deliver seven consecutive budget speeches. This milestone surpasses the record set by former Prime Minister Morarji Desai, who presented six consecutive budgets during his tenure as finance minister from 1959 to…