MintGenie News

Nifty 50 ended July with a 4% gain, reaching 24,951 points. On the July 29, the index nearly touched the 25,000 mark, falling just 0.25 points short. In CY24 so far, the Nifty 50 has set record highs on 49 occasions.

Shares of Tata Group’s Trent surged over 5 percent on Wednesday, reaching a new high and extending rally. The stock has gained more than 13 percent in 8 sessions. The rally is driven by market speculation that Trent will be included in the Nifty 50 index during the upcoming September reshuffle.

TCI: ICICI Securities has initiated coverage on the stock with a ‘buy’ call and a target price of ₹1,200. The brokerage sees TCI as a good opportunity in the current subdued operating environment for the logistics sector.

India’s digitization drive is set to grow its digital economy six-fold by 2030, with the new income tax e-filing portal enhancing convenience and security, particularly through credit card payments.

DOMS Industries: The company is a leading name in India’s stationery and art market, with a portfolio of over 4,000 SKUs covering scholastic stationery, art materials, office supplies, and more.

GIFT City funds address key concerns for NRIs by allowing investments and withdrawals in foreign currency, avoiding currency depreciation losses and tax complexities. However, they require a minimum investment of $150,000, which may limit access for some investors.

Shares of IndiaMART InterMESH plunged more than 8 percent in intra-day trading on Wednesday after the company reported a significant drop in subscriber additions for the quarter ending June 2024. Despite this, IndiaMART reported strong earnings for the quarter, with notable margin expansion.

SEBI’s proposed F&O measures will remove 12 (of 18) weekly option contracts and impact 35 percent of industry premiums, said Jefferies. This comes after SEBI proposed seven key amendments to the derivatives trading framework, aiming to enhance investor protection and market stability, on Tuesday.

Following the company’s June quarter performance, domestic brokerage firm Equirus Securities remains confident in Zaggle’s ability to deliver strong revenue growth over FY24-FY27.

Equity Linked Savings Schemes (ELSS) are required to invest a minimum of 80% of their assets in stocks, as stipulated by the Equity Linked Savings Scheme, 2005, issued by the Ministry of Finance. These schemes offer the shortest lock-in period among all tax-saving options, which is three years.