Union Budget 2024 kept its focus on growth, with an emphasis on infrastructure enhancement, fiscal prudence, and welfare schemes for rural India, while the increase in capital gains tax rates and hike in STT (Securities Transaction Tax) are the immediate concerns.
ITC
ITC shares breach ₹500 mark for first time on no change in tobacco taxes, Jefferies upgrades to buy
ITC shares rose 3.7% after Budget 2024 as Jefferies upgraded it to ‘Buy’. The stock jumped 19% to a high of ₹510.60 in July. Unchanged tobacco tax, stable GST rates and rural allocations boost non-tobacco businesses.
Stock Market : Bharti Airtel, ITC, Maruti Suzuki, PNB Housing Finance, Syngene
Gold Silver Reports – Live Stock Market News – Equities in Tokyo and Seoul advanced after the S&P 500 Index hit an all-time high, with the two sides agreeing to suspend new tariffs while negotiating over trade.
Asian stocks climbed, tracking gains in U.S. shares, after U.S. President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war. The yen climbed and the dollar retreated.
Stocks To Watch: RCom, Hindalco, ITC, JSW Steel, Tata Steel
Gold Silver Reports (GSR) – Stocks To Watch: RCom, Hindalco, ITC, JSW Steel, Tata Steel – Indian equity benchmarks edged lower after the Bharatiya Janata Party’s lead diminished from the halfway mark while Congress struck a post-poll alliance with the Janata Dal (Secular) in Karnataka. The S&P BSE Sensex ended little changed at 35,543.94 and the NSE Nifty 50 index closed at 10,802.