HDFC Bank stock gains 1.3% on first day post HDFC merger; is there further upside to the stock?
HDFC Bank’s share price gained 1.3% to Rs 1,724.25, while HDFC’s stock price jumped 2.5% to Rs 2,897.6 on the first day of trading following the merger of the two lenders. Housing Development Finance Corporation and HDFC Bank’s merger came into effect from July 1, after receiving approval from shareholders and regulators.
Here’s how much money Bill Gates, Warren Buffett, other American billionaires have donated to philanthropy
Philanthropy has become a significant force in the United States, with billionaires leading the way in making substantial contributions towards philanthropic causes. The philanthropic contributions of America’s billionaires have had a revolutionary impact on addressing some of the world’s most pressing challenges. From combating diseases and improving education to addressing climate change and promoting social justice, they have contributed tremendously. Here are America’s billionaires and their contributions towards philanthropy.
PKH Ventures IPO Day 2: GMP gains 8%, muted subscription on Day 1; should you subscribe?
PKH Ventures?IPO:?Construction and manufacturing firm PKH Ventures’ Rs 379-crore IPO opened for subscription on 30 June. The issue received lukewarm subscription on Day 1, with the issue being subscribed only 6%. PKH Ventures IPO comprises a fresh issue of Rs 270.22 crore as well as an offer for sale of 73.3 lakh shares.?
PKH Ventures has set the price band for the IPO at Rs 140-148 per equity share. PKH Ventures shares’ grey market premium rose 8.11% on Tuesday, commanding a premium of Rs 12 over upper end of the IPO price, implying a listing price of Rs 160 per share.
India’s oil imports from Russia climb to new peak as limit nears
India’s imports of Russian oil hit another record last month as the South Asian nation potentially nears the limit of its buying splurge from the major OPEC+ producer. Daily volumes climbed to 2.2 million barrels a day in June, rising for a 10th month, according to Viktor Katona, the head of crude analysis at Kpler. Russian purchases again exceeded the combined shipments of Saudi Arabia and Iraq, data from the analytics firm show.
India emerged as a key consumer of?Russian oil ?following the invasion of Ukraine, but the nation’s buying could be near its limit due to infrastructure issues and the need to maintain good relations with other suppliers. Kpler says?imports? may dip next month because of lower Russian supply.
June manufacturing activity stable, business confidence at 6-month high
In what could be a potential cause for worry, the manufacturing activities have moderated in June from a 31-month high in May. The June Purchasing Managers’ Index (PMI) data pointed to an improvement in overall operating conditions for the 24th straight month.
The seasonally adjusted S&P Global India?Manufacturing? PMI to 57.8 in June fell from 58.7 in May. According to the survey, the overall level of?business confidence ?rose to a six-month high. The other piece of good news is that output remained in the growth territory on the back of new work orders and favourable demand. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction.
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How to report tax on gains from Equity Mutual Funds in Income Tax Return for AY 2023-24
Tax on gains from Mutual Funds: The due date to file the Income Tax Return (ITR) for AY 2023-24 is July 31, 2023. Taxpayers are required to report all their sources of income in the ITR, including income from equity mutual fund investments.
While mutual funds are taxable just like most other assets where you invest, the tax on the sale of units of mutual funds depends on various factors, such as the type of mutual fund, holding period, capital gains, dividends, and income distribution, says Abhishek Soni CEO and Co-founder of Tax2win, a Fisdom company.
Federal Bank shows strong business in Q1; total advances, gross advances up by 21% each
Federal Bank has reported a strong business with total deposits and gross advances rising 21 per cent each during the first quarter of financial year 2023-24. The private sector bank posted?total deposits at Rs 2,22,513 crore at the end of the first quarter as against Rs 1,83,355 crore during the same quarter last year. The gross?advances? for the Q1 stood at Rs 1,86,593 crore in comparison to Rs 1,54,392 crore in the same quarter of the previous year, the company informed in a regulatory filing.?
Smart tips for building a healthy financial relationship with your life partner
Financial decisions are key to your relationship. Without mutual respect for each other’s financial goals, it becomes difficult to manage your house. Often family members tend to ignore each other’s financial challenges and fail to discuss their common goals. However, there are critical signals you must know about to avoid getting into a financial mess owing to the fault of your partner.
If you notice something unusual about the financial habits of your partner, you must pay immediate attention to it and also bring it to the notice of your partner. Here are some important tips that can help you spot financial red flags.
Upcoming Cars in India in July 2023: Maruti Invicto to Hyundai Exter
July is going to be an exciting month for the Indian automotive industry. Gear up and get ready to dive into a world of exhilaration as some much-awaited cars will make their official debut this month across different price segments. From mass-market SUVs to luxury ones, here we have listed the top 5 upcoming cars in India in July 2023.
Ruchi Kalra: IITian who built a net worth of Rs 2600 crore after being rejected 73 times
Ruchi Kalra, is an Indian businesswoman from Gurgaon who co-founded two unicorn startups – OfBusiness and Oxyzo. Ruchi and her husband, Ashish Mohapatra are truly a power couple who have broken all boundaries with their companies that hold an evaluation of Rs 52,000 crore. With the dynamic nature of the present startup culture in India, leading two startups with a whopping evaluation requires an immense amount of hard-work and overcoming a number of hurdles. Ruchi’s business strategy is simple but has proved to be a success as she believes in extracting profit out of every transaction.