'Arbitrage funds make the most sense for those in the 30 per cent tax bracket, are viable for those in the 20 per cent bracket, but less so for those in the 10 per cent bracket.'
The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China. As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far. Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the piossibility of a trend reversal.
Sanju Samson continued his dream run in T20I cricket, smashing his second consecutive century in the first match of the series against South Africa at Kingsmead, in Durban on Friday night.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
Roundup of matches across various venues in the Ranji Trophy 2024-25
Ajaz Patel said helping New Zealand wrap up a 3-0 series sweep in India on Sunday was even more special than his spectacular outing at the Wankhede Stadium three years ago
Foreign investors pulled out a massive Rs 94,000 crore (around $11.2 billion) from the Indian stock market in October, making it the worst-ever month in terms of outflows, triggered by the elevated valuation of domestic equities and attractive valuations of Chinese stocks. Before this, foreign portfolio investors (FPIs) withdrew Rs 61,973 crore from equities in March 2020. The latest outflow came after a nine-month high investment of Rs 57,724 crore in September 2024.
Images from Day 2 of the 3rd Test played between India and New Zealand, in Mumbai, on Saturday.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
Tony de Zorzi and Tristan Stubbs both scored maiden Test hundreds as the tourists amassed 307 runs for two wickets against Bangladesh
In Agartala, the Group A match between Mumbai and Tripura ended in a draw with the reigning champions earning three points by virtue of the first-innings lead.
A round-up of the Ranji Trophy matches played on Monday
Mitchell Santner played through the pain barrier as New Zealand secured their maiden series win in India going back to 1955 and the left-arm spinner said picking up wickets regularly in the second test had helped him persevere.
Barcelona's Robert Lewandowski scored a quick-fire second-half double to set the leaders on course for a thrashing of Real Madrid.
Kagiso Rabada took six second-innings wickets as South Africa won the first Test against Bangladesh by seven wickets on Thursday.
In a relatively rare occurrence, the growth in manufacturing jobs exceeded the pace of sector growth in 2022-23 (FY23). The number of persons engaged in the segment grew by 7.43 per cent in FY23, according to figures from the Annual Survey of Industries (ASI) released on September 30. The gross value added for the manufacturing sector grew by 4.24 per cent in current prices and declined by 2.2 per cent in real terms for FY23, according to earlier annual figures released by the government.
Rabada reaches new milestone as Proteas take control over Bangladesh, on the opening day of the first Test against Bangladesh.
So far this week, more than 90 flights have received bomb threats and most of them have turned out to be hoaxes.
More than 30 flights of various Indian airlines, including Vistara, Air India and IndiGo, received bomb threats on Saturday, according to sources.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
The IMD said India did not experience any "break monsoon" conditions this year because of the large number of low-pressure systems.
A round-up of the Ranji Trophy matches played on Saturday.
Mandhana, the best batter in the side, has failed to get going thus far on the slow wickets of the UAE where stroke making has proved to be extremely tough.
Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer's body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month from 18,99,192 units in September 2023, as most of the categories including passenger vehicles and two-wheelers witnessed a year-on-year (Y-O-Y) drop.
Pakistan skipper Fatima Sana admitted that her side was 15 runs short of a winning total in a six-wicket defeat to arch-rivals India in a women's T20 World Cup match in Dubai on Sunday.
India vice-captain Smriti Mandhana defended her team's ultra-defensive batting approach in a chase of 106 runs against Pakistan.
India registered a hard-fought six-wicket win over arch rivals Pakistan, keeping their semi-final hopes alive in the Women's T20 World Cup.
The third and final phase of the three phase Jammu and Kashmir assembly elections will be held on Tuesday, October 1, 2024.
Sri Lanka took complete control of the second Test against New Zealand on Friday as batting sensation Kamindu Mendis scored the fifth century of his young career and helped the hosts post a mammoth 602-5 declared on day two in Galle.
'It is difficult to write business internationally, without an 'A-' rating. It becomes more expensive.'
The Union finance ministry on Thursday notified the Direct Tax Vivad Se Vishwas Scheme, 2024, which will come into effect on October 1. This scheme will allow taxpayers to settle appeals, writ petitions, and special leave petitions pending in the Supreme Court, high courts, and appellate tribunals before the cutoff date of July 22. Though the scheme's operational date has been announced, the final date for the scheme is yet to be determined.
Ravichandran Ashwin has the second most wickets by an active player in Test cricket. Australia's Nathan Lyon leads the list with 530 wickets and Ashwin can overtake him in the second Test in Kanpur.
The uber-talented Sanju Samson completed his 11th first-class hundred before Arshdeep Singh showed his wares with the semi-new ball as India D held sway over India B on the second day of their final Duleep Trophy round robin league match in Anantapur on Friday.
Afghanistan earned a first-ever One Day International victory over a depleted South Africa when they romped to a comfortable six-wicket triumph in the first game of the three-match series in Sharjah on Wednesday.
Kamindu Mendis maintained his red-hot form and struck a majestic 114 to power Sri Lanka to 302/7 on the opening day of the first Test.
Could the Chennai Test against Bangladesh this week be Ravichandran Ashwin's last Test in front of his home fans?
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the past few months, according to industry sources and ship-tracking data. Some of the increase in America's market share may have come at the expense of Russia, India's biggest crude oil supplier, said industry sources.
The hospitality industry has around 212,000 rooms, with an industry size of about Rs 82,000 crore. The industry could grow at an annual rate of 10.5 per cent for the next three financial years, despite a quiet Q1FY25. The demand will be driven by domestic travellers, who will contribute roughly 50 per cent of the growth, while foreign tourists will account for 30 per cent.
The operations revealed evidence of price and volume manipulation of stocks through the use of platforms like YouTube and WhatsApp.
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