Category: Market
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Centre releases double tax devolution instalment to states in December worth Rs 1.46 lakh crore
The devolution of states’ shares in taxes is done in 14 installments every year. The central government, on December 22, said it had released an additional instalment of Rs 72,961.21 crore as tax devolution to states. This follows a similar transfer earlier this month on December 11, the finance ministry said in a statement. “In…
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AllCargo Logistics said that the volume for November 2023 was marginally down 0.35 percent compared to November 2022 and remained flat compared to October 2023. Source link
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Whiskey distillers cheer as EU, U.S. strike deal to avoid 50% tariff on exports to Europe
Jack Daniel’s Tennessee Whiskey Getty Images U.S. whiskey distillers are breathing a sigh of relief as they will avoid a looming 50% tax on shipments to Europe. The European Union said Tuesday it would extend the suspension of tariffs on U.S. whiskey until March 31, 2025. The 50% levy, which came in the context of…
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Inflation gives millions new access to investments for the wealthy, says SEC
Morsa Images | Getty Images Inflation has given millions of people new access to certain investments earmarked for the wealthy — and consumer advocates argue that’s not a good thing. Americans must generally be “accredited” to invest in private companies and investments such as private equity and hedge funds. That accredited status is a consumer…
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Deepak Nitrate subsidiary to supply propylene and hydrogen to Petronet LNG
A wholly-owned subsidiary of Deepak Nitrite Limited announced that it will supply propylene and hydrogen to Petronet LNG Limited (PLL). The wholly-owned subsidiary, Deepak Phenolics Limited, will supply 250 kilotons per annum (KTPA) of propylene and 11 KTPA of hydrogen from its Petronet Petrochemical Project in Dahej, Gujarat, as stated by Deepak Nitrate in an…
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L&T poised to move towards Rs 3,800 after trendline breakout
The Larsen and Toubro (L&T) stock is exhibiting a breakout on the monthly chart, forming higher tops and higher bottoms. Analysts expect the stock to move to Rs 3,800 in the next month and to Rs 4,000 over the next few months. At of 12.53 pm, L&T was trading at Rs 3,509 on the National…
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ICRA revises upwards FY24 GDP growth forecast to 6.5%
Earlier this month, the RBI had revised upwards its GDP estimate to 7% from 6.5% Domestic rating agency Icra on Monday revised its FY24 GDP growth forecast to 6.5 per cent from 6.2 per cent earlier. However, the revised forecast is still much lower than the Reserve Bank of India’s (RBI’s) 7 per cent real…
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Fed's Goolsbee says he was 'confused' by last week's market reaction
A Federal Reserve official said Monday that the market may have misunderstood the central bank’s intended message last week after stocks and bonds rallied sharply. The Fed voted last week to hold rates steady once again, and its updated projections showed an expectation of three rate cuts in 2024. That caused a rally in stocks…
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In short term, markets may enter a phase of consolidation but in the longer run if the Indian economy continues to show resilience and corporate profitability stays strong, the market will definitely see newer highs, says Raghvendra Nath. Source link Related
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Based on the OI percentage, 62 stocks were on the short-covering list. These include SAIL, Hindustan Copper, GMR Airports Infrastructure, Hero MotoCorp, and LT Finance Holdings. Source link