EPFO lowers penal charges on employers defaulting on PF, pension and insurance deposits
The notification issued by the ministry of labour and employment said the penal charges across three schemes of EPFO will be uniform and at the rate of 1% per month or 12% per annum from the date of notification as against 25% per annum until now for default period of six months and above. This will reduce the penal burden on employers. Key Points
Economic TimesLatest HDFC Bank FD rates: HDFC Bank raises fixed deposit, recurring deposit interest rates - check list
India Business News: HDFC Bank has revised fixed deposit tenures and interest rates below Rs 2 crore, effective June 10, 2024. The peak interest rate of 7.25% is applicabl Key Points
Times Of IndiaIndusInd Bank revises fixed deposit rates. Check latest FD interest rates here
IndusInd Bank has revised its interest rates on fixed deposits, offering rates ranging from 3.50% to 7.75% for the general public and 4% to 8.25% for senior citizens Key Points
mintIndia's wholesale prices in November rise 0.26%; rebounds from negative territory after seven months
India's wholesale inflation increased to 0.26 per cent in November as against a contraction of 0.52 per cent in October, the government data showed on Thursday. Key Points
Economic TimesUK output grows; inflation stronger
S&P Global said its purchasing managers' index edged up to 50.1, the highest reading in four months and above the threshold level of 50 dividing growth and contraction. It was up from 48.7 in October, a figure economists had expected would be repeated. The data indicate resilience in the economy that may ward off the risk of a recession in the coming months. Key Points
Economic Times
DU Admission 2023: COL begins registration for certificate courses
Candidates can either apply offline, or submit a copy of the application form filled online on col.du.ac.in along with required documents. Key Points
Hindustan TimesBulls have upper hand in run-up to India election, history shows
The benchmark NSE Nifty 50 Index has climbed in the six months leading to the vote in each of the past five polls, posting an average 16% return during the period, data compiled by Bloomberg show. Gains in the three months after the polls have averaged more than 3%. Key Points
Economic TimesMarket should spend more time in 18,000-20,000 range before forging ahead: Hemant Kanawala
“The US 10-year moving up is definitely a headwind to all the risk assets globally. Within that emerging market spectrum, we believe India is relatively well-placed and that is where we believe the next few months are going to be challenging and this market can correct down but that is part of the equity game.” Key Points
Economic TimesHDFC Bank reduces FD interest rates on these tenures: Check latest fixed deposit rates
Special edition fixed deposit options were available for deposits up to Rs 2 crore. The new rates are effective from October 1, 2023. Key Points
Economic TimesDevang Mehta is gung-ho on banks, auto and capital goods sectors. Here's why
Capex has come back for sure, be it government capex and of course, followed by private capex. Importantly, sectors like BFSI, which are beneficiaries of not only capex, but also consumption and credit growth, is one of the favourite sectors to be in. Yes, it is a crowded trade, but banks had a good round of correction and consolidation in the past couple of months. Key Points
Economic Times
DCB Bank fixed deposits: Senior citizens can earn up to 8.5% interest rate on these FD tenures
The bank is offering a highest FD interest rate of 8% to general customers and 8.50% for senior citizens, after revision. Key Points
Economic TimesSoaring High! 132 BSE500 stocks hit 52-week highs in May. Do you own any?
The positive momentum in the country's markets helped their case. Some big names on the list include IndusInd Bank, Hindustan Aeronautics, Titan, Ultratech, Kotak Mahindra Bank, and Indian Oil Corp. In contrast to the three consecutive months of decline beginning in January, the S&P BSE Sensex index gained approximately 2% in May 2023, helped by consistent FII buying despite mixed global cues. Key Points
Economic TimesRBL Bank launches new fixed deposit scheme; offers up to 8.5% FD interest rate
RBL Bank has announced that it has introduced a new fixed deposit scheme – ACE Fixed Deposit. RBL Bank has also revised its fixed deposit interest rates effective from June 1, 2023. Key Points
Economic TimesIndia's manufacturing PMI hits 31-month high, as factory orders surge on robust demand conditions
Manufacturing sector in India continues to grow from strength to strength as data showed that factory output expanded at the quickest pace in the last 31 months on strong demand and output. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to over a 2-1/2 year high of 58.7 in May from April's 57.2. Key Points
Economic TimesThere was apprehension if Ranbir Kapoor’s Jagga Jasoos would ever be completed: ‘Galti Se Mistake took 6 months to finish’
Jagga Jasoos, starring Ranbir Kapoor and Katrina Kaif, was delayed several times before it finally hit the theaters in 2017. Vijay Ganguly shared how people working on the film were 'clueless' if the film will ever be complete. Key Points
The Indian Express
Telcos' cut in channel spends boosts margins
MNP-related trade spends have come down, with telcos now paying around ₹250-280 per port-in to retailers versus over ₹300 some months back, brokerage IIFL Securities said in a report. Likewise, commissions on new SIM activations had also dropped to as low as ₹109-to-149 per mobile connection from ₹179 a few months ago. Key Points
Economic Times6 banks offering above 8% interest on 3-year fixed deposits (FDs) to senior citizens
Fixed deposit interest rates have increased dramatically during the past few months. Here are six banks that provide short-term fixed deposits with interest rates of more than 8%. Key Points
Economic TimesSmartphone users exhibit slowdown in upgrading
From less than 12 months to now 18 months, smartphone users in the country are waiting longer before upgrading. The total number of smartphones in Indian market was estimated at around 15-16 crore units in 2022, dominated by budget phones with prices ranging between Rs 6,000 and Rs 15,000. Key Points
The Tribune India4 smallcaps which beat all negative newsflow can rally up to 45%
These small cap companies have shown returns of more than 10 percent in the last 3 months at a time when markets have been overwhelmed by news and other developments. Also, their overall scores have improved from their three months prior score. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having the average recommendation of Strong Buy . Key Points
Economic TimesWe married after 30 days of knowing each other; then he went to war
The author shares how she and her husband married quickly and he was deployed for a year shortly after. It affected their relationship as newlyweds. Key Points
Insider
Sundaram Finance hikes interest rates on term deposits
While the general scheme rate is increased to 7.45%, senior citizens will get 7.95%. Key Points
The HinduDCB Bank cuts FD interest rates by up to 50 bps: Check details
Big banks such as Axis Bank, Bank of India, PNB, IndusInd have also cut FD rates on select tenures in the last two months. DCB Bank has cut fixed deposit interest rates by up to 50 basis points (bps) for deposits below Rs 2 crore. Key Points
Economic TimesRest of 2023 is going to be a stock picker's market: Gautam Shah
I think that the trend is clearly down. Pullback rallies should be sold into. This has been the stance for the last two and a half months and it remains. So do not get carried away with the uptick. I think that is the advice that we are putting out to our clients as well. Key Points
Economic TimesMidcaps and smallcaps can deliver strong returns over 12 to 18 months: Naveen Kulkarni
The Indian equity market is currently oversold, offering good opportunities for long-term investors to enter, according to Naveen Kulkarni, CIO at Axis Securities. He said midcaps and smallcaps could deliver strong returns over the next 12 to 18 months, provided quality companies were chosen to invest in. Kulkarni also recommended buying into private banks, adding they were in a strong position and growth would pick up over the next few years. Finally, he said Reliance Industries stock was currently undervalued, and suggested purchasing it for potential 15% returns over a year. Key Points
Economic TimesThis bank offers FD interest rate up to 9.01% for senior citizens, 8.41% for other investors
Fincare Small Finance Bank will offer fixed deposit interest rates up to 9.01% for senior citizens and 8.41% for regular investors for sums under Rs 2 crore. Key Points
Economic Times
HDFC Bank increases FD interest rates by up to 25 bps; now earn 7.75% on this fixed deposit tenure
Latest HDFC Bank FD interest rates: HDFC Bank offers interest rates between 3.5% to 7.75% on tenures ranging from 7 days to 10 years. The Bank has hiked on tenure of 18 months to less than 21 months from 7% to 7.25%. Key Points
Economic TimesThe big churn: More India Inc top bosses hitting exit button post Covid
As many as 110 managing directors or chief executives who were also on the boards of NSE-listed companies quit in the first 10 months of 2023, according to data compiled for ET by primeinfobase.com. Key Points
Economic TimesIndia's manufacturing PMI slows in Sep, factory activity expands at slowest pace in 5 months
India's factory activity expanded at a slower pace in September, but remained strong, according to a private survey. The Manufacturing Purchasing Managers' Index fell to 57.5, its lowest in five months, missing forecasts. However, strong demand from both domestic and international markets drove business confidence to its highest level this year. Key Points
Economic TimesFPI buying nosedives 94% week-on-week; are dollars taking a “U” turn on Dalal Street?
Foreign portfolio investors' (FPIs) buying spree in Indian equities appears to be losing steam, with net investments of just Rs 468 crore in domestic markets last week, compared to Rs 7,804 crore in the preceding week. The benchmarks Sensex and Nifty 50 witnessed their first weekly loss in five weeks as investors took partial profits. However, inflows from FPIs were positive for the fourth consecutive month, with over $4bn invested in July, lower than June's over $6bn inflows. Key Points
Economic TimesTeachmint lays off 70 employees in second job cut in six months
Teachmint was founded in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar. It started off as digitising tool for individual tutors. Key Points
Economic Times
EVs Are Losing Up to 50 Percent of Their Value in One Year
Some electric car brands are hemorrhaging value, with the worst losing as much as $600 a day. In this investigation, WIRED outlines which models to watch, why this is happening, and how you can game the market to your advantage. Key Points
WIREDPrivate sector activity rises to eight month high of 61.3 in March
Indias private sector output rose to its highest level in eight months to 61.3 in March compared with 60.6 in the previous month, according to results of a private survey released Thursday. Key Points
Economic TimesPut money in select midcaps; one stock that can give 50% return in next 3 months: Sanjiv Bhasin
Sanjiv Bhasin believes that the odds of continuation of the government and policies are getting stronger after three straight elections, with Bihar turning Paltu being a significant event. He also highlights the outperformance of PSUs, the moderation of inflation numbers by the Fed, and the upcoming election verdict as factors contributing to reduced uncertainty. Bhasin suggests investing in midcaps, specifically mentioning Electro Force as a stock that can potentially provide a 50% return in the next three months. Key Points
Economic TimesIndian Railways earns Rs 1.25 lakh crore freight revenue till December 2023
The official data has revealed that freight loading by the Indian Railways touched 1154.67 million tonnes (MT) in first nine months of the current fiscal. Coal loading in December 2023 stood at 69 MT while Iron Ore freight stood at 16.54 MT. Key Points
Economic TimesMarket looks ready for another pre-poll rally
For starters, in the six months leading up to the 11 general elections held between 1980 and 2019, the Sensex averaged an impressive 14.3% return, underlining the stock markets capacity to navigate and prosper amid political uncertainty and transitions. Key Points
Economic Times
Indian stocks to gain only modestly in 2023 despite RBI rate hike pause: Poll
Indian equity strategists have scaled back their year-end outlook as a new bull run in India's already-richly valued stock market is unlikely, according to a Reuters poll. The Sensex and Nifty 50 indexes were expected to gain 3.8% and 4.6%, respectively, from Tuesday's close to end-2023, slightly downgraded from a February poll. Over 70% of analysts believe Indian stocks will trade in a narrow range for the next three months. While an end to the RBI's modest rate-hiking cycle was positive, the high probability of a U.S. recession this year is likely to limit Indian stocks' gains. Key Points
Economic TimesUK unemployment edges up but pay growth beats forecasts
The Office for National Statistics said the unemployment rate rose to 3.8% - its highest since the second quarter of 2022 - rather than holding at 3.7%, as forecast by economists in a Reuters poll. Key Points
FinancialexpressIncrease equity allocation in next 6 months & expect returns in 2024 and 2025: Pankaj Tibrewal
Valuations are becoming reasonable and the next six months present an opportunity to increase equity allocation as pain seems to be behind us and market prices reflect it. FIIs have consistently turned buyers for the last four trading sessions, and several milestones are used to watch a market bottom-out. The approach is to stick with companies with larger market share in neglected sectors, such as manufacturing, selected NBFCs and private sector banks, and pharma. Key Points
Economic Times2 months after leaving me my boyfriend proposed to me
After two years of dating, the author says she put a lot of pressure on her boyfriend about get married. He left, only to return with a ring. Key Points
InsiderStocks hemmed in by rate risks; yuan wobbles
By Tom Westbrook SINGAPORE (Reuters) - Asian equities climbed on Tuesday but could not break this month's highs as mixed messages from U.S. Federal Reserve policymakers left doubts hanging over the Key Points
ThePrint
Governors must act on bills; don't bring govts to SC, says CJI DY Chandrachud
The Supreme Court of India has expressed concern about Governors delaying the approval of Bills passed by state assemblies. Chief Justice DY Chandrachud emphasized that Governors should act promptly and not force state governments to approach the Supreme Court due to such delays. Key Points
Economic TimesA $46 billion rally shows Indian IT stocks' woes easing
Gains picked up after Asias biggest software services exporter Tata Consultancy Services Ltd. last week reported better-than-expected profits for the latest quarter. Its shares climbed, along with those of peers including Infosys Ltd., which is scheduled to report today. Key Points
Economic TimesAxis Bank increases FD interest rate by 10 bps on this tenure: Check details
After the revision, Axis Bank offers interest rates between 3.5% and 7.20% on tenures ranging from 7 days to 10 years. Key Points
Economic TimesCanada unemployment rises for first time in nine months
The net job losses came as a surprise, after robust employment gains in recent months. Since last September about 400,000 new jobs had been created. | World News Key Points
Hindustan TimesI've been undiagnosed for 8 months as I experience extreme fatigue and periods of paralysis. It's affecting my parenting the most.
The author shares how she's experienced extreme fatigue and paralysis and has no answers. She can't even pick up her children up. Key Points
Insider
Stock Radar: Bounce back on cards? Havells India trading near lower end of triangle pattern
The stock rose over 1% in a week but remained flat in the last 1 month, data suggests. It rose by over 5% in the last 3 months. Short-term traders can look to buy the stock now for a possible target towards Rs 1,400 levels in 2-3 months Key Points
Economic TimesI accidentally got pregnant after dating a guy for 4 months. We've been together for over a decade.
The author says she dated a man for a few months — mostly long-distance — before finding out she was pregnant. They're still together, with two kids. Key Points
InsiderThis Indian state announces year-long maternity leave, one month of paternity leave for govt employees
The stated government has announced that it will provide one year of maternity leave and one-month paternity leave to its employees. Changes will be made to service rules to implement this benefit. Key Points
mintAdani-Hindenburg row: Supreme Court grants three months extension to Sebi for probe, report to be submitted on August 14
The apex court has asked the regulator to submit its report on August 14. Earlier this week, the Sebi sought six more months time from the SC to complete its probe into the allegations. Key Points
The Indian ExpressFD interest rate up to 7.8%: RBL Bank launches digital fixed deposit
RBL Bank has introduced a Digital Fixed Deposit (FD) scheme for new bank customers. Now open a savings account with the bank without going to a bank branch and book the Digital FD in a matter of minutes. Key Points
Economic Times
India’s steadying economy shows signs of weakening consumption
Indias economic growth unexpectedly slowed to 4.4% in the three months to December. Economic expansion may be under pressure as the “full-blown impact” of the Reserve Bank of Indias 250 basis point hike in borrowing cost since May gets transmitted to end-consumers, Crisil Ltd., the local unit of S&P Global Ratings, said in a report. Key Points
Economic TimesFixed deposit: This bank offers up to 9.11% interest to senior citizens; 8.51% to others on FDs
The general public can earn an interest rate of 8.51 per cent for fixed deposits maturing in 1000 days. For the same tenure, senior citizens will get an interest rate of up to 9.11 per cent. Key Points
Economic TimesEarn up to 9.25% FD interest rate; this bank hikes fixed deposit rates by up to 41 bps
The new rates are effective from March 1, 2024. Interest rates in 25 months tenor was revised by 41 basis points (bps), according to the bank press release. Key Points
Economic TimesBillionaire Adani Group’s refinancing risks ebb on earnings lift
The groups Ebitda, or earnings before interest, tax, depreciation and amortization rose more than 60% to 194.75 billion rupees ($2.3 billion) in the third quarter ended Dec. 31 with a bulk of that coming from the transport, infrastructure and energy units of the conglomerate. The group reported an Ebitda of $9.5 billion for the nine months to Dec. 31. Key Points
Economic TimesIncorrect or premature conclusion of Adani probe will not serve justice, SEBI tells SC
SEBI, on 29 April 29, had sought 6 months to complete its probe, rather than 2 months. However, the Supreme Court said on Friday it was inclined to give a three-month extension. Key Points
ThePrint