July 25, 2024
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Finance

Helios Mutual Fund Launches New Financial Services Scheme

Helios Mutual Fund has launched the Helios Financial Services Fund, an open-ended equity scheme designed to capture the growth potential in the financial services sector. The subscription period for this scheme started on May 31, 2024, and will conclude on June 14, 2024, with ongoing subscription and redemption available within five business days post-allotment. This

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Business Stocks

Indian Stocks Plunge Amid Election Uncertainty, Volatility Peaks

Indian stocks experienced their most significant drop in nearly four years on Tuesday, driven by preliminary election results indicating that Prime Minister Narendra Modi’s alliance might not secure the expected landslide victory. The NSE Nifty 50 index closed 5.45% lower at 21,995 points, and the S&P BSE Sensex declined by 5.10% to 72,562 points. Both

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Business Stocks

Stock markets Hit Record Highs Amid Modi’s Re-election Optimism

On Monday, the Indian stock market benchmark indices, Sensex and Nifty 50, surged to record high levels buoyed by optimism that Prime Minister Narendra Modi will secure a third term in office. Several exit polls have indicated that the BJP-led alliance is likely to win the 2024 Lok Sabha elections with a commanding majority. Analysts

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Business

Go Digit IPO: Modest Debut Amid Investor Interest

Go Digit made its market debut today, 23rd May 2024,  receiving a lukewarm response from investors. On the National Stock Exchange (NSE), Go Digit’s shares opened at ₹286 per share, marking a 5.15% increase from the issue price of ₹272. Similarly, on the Bombay Stock Exchange (BSE), the opening price stood at ₹281.10 per share,

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Business

Goa Pharma Firms Criticized for Hiring Outside State

Pharmaceutical companies, a significant part of Goa manufacturing sector and employment source, are facing criticism for holding recruitment camps outside the state. Indoco Remedies canceled a recruitment camp in Boisar, suburban Mumbai, citing unavoidable circumstances and Chief Minister Pramod Sawant’s intervention. In a letter to CM Sawant on May 22, Indoco Remedies, which operates a

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Business

Jute Mill Closure Leaves 4,000 Workers Jobless in West Bengal

Amirul Laskar, a 40-year-old former worker at the Delta Jute Mill in Manikpur village near Kolkata, has been jobless for the past three months following the mill’s closure due to financial losses. This shutdown has left Laskar struggling to provide for his household, including his parents, wife, and 18-month-old daughter. He recalls that such disruptions

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Business Finance

Nirmala Sitharaman Faces Backlash Over Tax Response

Union Finance Minister Nirmala Sitharaman faced significant backlash on social media due to her cryptic response to a question regarding high taxes on stock market brokers and real estate transactions. The incident occurred at an event at the Bombay Stock Exchange (BSE) where a stockbroker raised concerns about the heavy tax burden imposed by the

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Crime Finance

India’s Largest Banking Fraud: DHFL Rs 34,000 Crore Scandal

The case involving the alleged swindling of a consortium of 17 banks by Dewan Housing Finance Corporation Ltd (DHFL) is being termed as the largest banking loan fraud in India. The Central Bureau of Investigation (CBI) has intensified its probe into this Rs 34,000 crore scandal, recently arresting Dheeraj Wadhawan on Tuesday. This arrest marks

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Stocks

Zomato Stocks Dip 6% After Q4 Results Release

Zomato’s stock price experienced a 6% decline in early trading on Tuesday following the company’s announcement of its Q4 results. Zomato shares plummeted by as much as 5.98% to ₹182.10 each on the BSE. The food delivery platform disclosed a consolidated net profit of ₹175 crore in the fourth quarter of FY24, a significant improvement

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Business Stocks

Tata Motors Faces Stock Decline Amid Mixed Q4 Results

Shares of Tata Motors Ltd experienced a significant decline during Monday’s trading session following the release of a mixed set of financial results for the March 2024 quarter. The immediate market response reflected disappointment as the automotive giant fell short of Q4 estimates, coupled with a subdued outlook for its Jaguar Land Rover (JLR) segment.

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