Vikas Khemani, Founder of Carnelian Asset Management, points out the peculiarity of having both capital gains tax and Securities Transaction Tax (STT) in India. He suggests eliminating one tax to make it fairer. He also mentions expectations for a reduction in personal income tax and the importance of the fiscal deficit and capex spending in the upcoming Budget.
HDFC Bank's shares are in focus after the lender posted a 2.2% YoY growth in net profit for Q3FY25, reaching Rs 16,736 crore, which fell short of Street estimates. The bank's net revenue grew by 6.3%. Analysts recommend a 'Buy' rating due to strong asset quality and improvements in deposit market share.
The House has passed the Laken Riley Act, which mandates detaining unauthorized immigrants accused of theft and violent crimes. The bill, named after a murdered nursing student, received bipartisan support and underscores the shift in immigration policy following Trump's election. Implementation will require significant funding and resources.
U.S. President Donald Trump has signed multiple executive orders impacting immigration, the federal workforce, gender policies, energy production, the Paris climate agreement, the World Health Organization, and has pardoned supporters involved in the Jan. 6 Capitol attack. These actions aim to fulfill his campaign promises.
BN Rathi Securities' shares may see heightened attention as January 23 is the last day to buy the stock to qualify for a 1:1 bonus share issue and a 1:2 stock split. Both corporate actions have January 24 as the record date, making shareholders eligible for one additional share per share owned and splitting each share into two.
Stallion India Fluorochemicals shares will debut on Thursday with a grey market premium (GMP) of Rs 39. The IPO saw a remarkable subscription of 188 times. Funds from the IPO will be used for working capital and other corporate purposes. Analysts suggest it as a viable medium to long-term investment, considering its financial performance.
Benchmark Sensex rebounded nearly 567 points, and Nifty regained the 23,150 level on Wednesday due to value buying in IT and banking shares amidst firm global trends. Key stocks in focus included Bharat Dynamics, Cyient DLM, and Newgen Software, which saw notable declines. Expert recommendations provided caution and target levels post-market resumption.
Around 59 companies are set to announce their third quarter results on Thursday, including key players like Ultratech Cement, Adani Green, Dr Reddy's, Mankind Pharma, and HPCL. Ultratech Cement might see a slight revenue increase but a dip in profitability, while Dr Reddy's is expected to show double-digit growth in earnings and revenue.
