Saraswati Saree Depot will finalise its IPO allotment on August 16. Investors can check their status via the BSE website or Bigshare Services portal by Monday. The IPO, which aimed to raise around Rs 160.01 crore, was oversubscribed 107.52 times, with strong interest from non-institutional bidders.
The early gains indicate continued momentum in the markets, with both major indices showing strong upward trends as trading progresses.
State Bank of India has revised its Marginal Cost of Funds based Lending Rate, with the new rates for a three-year tenor now at 9.10 per cent, up from 9 per cent earlier. The overnight MCLR has also been increased to 8.20 per cent, from the previous rate of 8.10 per cent.
Taxpayers awaiting Income Tax Return (ITR) refunds should note that processing times vary by the type of ITR form filed. ITR-1, being the simplest, is processed the fastest, with refunds typically issued within 15 days.
The Average Minimum Balance (AMB) is the minimum amount that must be maintained in your savings account to avoid being charged for non-maintenance.
The government envisaged the idea of making India’s first indigenous semi high-speed train - Vande Bharat Express to boost ‘Make in India’ campaign. The first Vande Bharat Express train was launched on February 15, 2019.
The reduction in wholesale inflation is attributed to a drop in prices of key commodities, including food and fuel. Lower input costs and decreased demand pressures have contributed to the cooling of inflationary trends.
Tata Motors led the gains among Sensex stocks, while broader markets showed mixed performance. Positive sentiment was fueled by lower-than-expected US inflation data, which boosted global indices.
As part of the PM-KISAN scheme, the eligible beneficiaries get Rs 2,000 every four months, which is Rs 6,000 annually.
An interim government was formed in Bangladesh after the fall of the Hasina-led government, and its Chief Adviser, 84-year-old Nobel laureate Muhammad Yunus, announced the portfolios of his 16-member council of advisors last week.
After buying an IRCTC train e-ticket, commuters can also book Namo Bharat train tickets for up to eight travellers in a single transaction. The railways said that the option to book RRTS tickets will be available on the PNR confirmation page and through the user’s booking history.
The benchmark indices opened slightly lower on Tuesday. The BSE Sensex was down 42 points, trading at 79,607, while the NSE Nifty50 dropped 10 points to 24,337 in early trading. The market sentiment was dampened by a 2% fall in HDFC Bank shares, contributing to the overall decline.
The rise in direct tax collections is seen as a positive indicator for the government's fiscal health and its ability to fund various developmental and welfare programmes.
The Income Tax Department has already outlined that the processing of ITR refunds starts only after the taxpayer electronically verifies the returns.
India's retail inflation eased to 3.54 per cent in July, falling below the Reserve Bank of India's 4 per cent target for the first time in years.
Indian equity markets opened lower on Monday as investor sentiment was shaken by a Hindenburg Research report. Major indices Sensex and Nifty saw significant declines, with Adani group stocks being among the hardest hit.
The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged. As a result, banks are offering higher interest rates on fixed deposits (FDs). This is an excellent opportunity to secure attractive returns on FDs.
Adani Group's statement comes a day after Sebi chairman Madhabi Puri Buch and her husband denied allegations levelled against them by short seller Hindenburg, terming them as baseless and asserted that their finances are an open book.
Finance Minister Nirmala Sitharaman urged banks to prioritise their core business activities, emphasising the necessity of collecting deposits and lending with increased strictness.
The Bank of Baroda said it has hiked its 3-month MCLR from 8.45 per cent to 8.50 per cent, its 6-month MCLR from 8.70 per cent to 8.75 per cent, and the benchmark 1-year MCLR from 8.90 per cent to 8.95 per cent. It is a 5 bps hike on each tenure.
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