Budget 2025 stock market opening: Indian stock markets will operate a special trading session on Saturday, February 1, 2025, for the Union Budget 2025-26 presentation by Finance Minister Nirmala Sitharaman. Regular market hours will be observed, with a focus on potential fiscal strategy impacts on various sectors.
Related news
The US trade deficit narrowed by 6.1% to $122.7 billion in February before President Trump launched new tariffs. US exports rose while imports remained nearly unchanged. Analysts expect these tariffs to impact businesses' supply chains and costs, potentially affecting imports and exports in the coming months as new tariffs take effect.
Union minister Ashwini Vaishnaw says the world views India as a global production hub and technology co-creation destination, with substantial investor interest across various sectors. He highlights strong US-India ties and the unified investment-friendly stance of NDA and Opposition ruled states presented at Davos.
Union minister Jitendra Singh announced that India's space sector has attracted over Rs 1,000 crore investment recently, with space economy expected to grow five-fold to $44 billion. At the ETNOW.in Business Conclave, the need for updating Indian IT laws was highlighted, while Arunachal Pradesh governor emphasized the importance of strong border security, innovation, and infrastructure for attaining Viksit Bharat.
Reliance Consumer Products has acquired the Sil brand, specializing in packaged food items, from Food Service India. This move intensifies market competition with major players like Hindustan Unilever. Reliance plans to revitalize the 75-year-old brand while expanding its market presence, focusing only on the brand and not its manufacturing units or employees.
Revenue secretary Sanjay Malhotra's transfer to Mumbai has left a key position vacant weeks before the Union Budget. This isn't unprecedented, but the new appointee will need to quickly grasp complex tax issues. The situation is further complicated by recent leadership changes within the finance ministry, with several secretaries experiencing their first budget preparation.
Elon Musk faced significant setbacks on March 10, with Tesla's stock plummeting by over 15% and his social media platform X experiencing major outages. The twin crises coincided with market panic and increasing criticism of Musk's political ties to Trump's administration. Additionally, Tesla's declining sales and growing competition, particularly from China's BYD, compound the challenges.
GST collections rose by 7.3% to Rs 1,76,857 crore in December, despite weak urban demand. Domestic collections grew by 8.4%, and import-related collections increased by 3.9%. Refunds issued surged by 45%. Notable performers included Sikkim and Haryana, while states like Arunachal Pradesh and Meghalaya lagged.
HCLTech reported a 5.54% growth in consolidated net profit to Rs 4,591 crore for the December quarter of FY 2024-25, up from Rs 4,350 crore a year ago. Revenue from operations increased by 5.07% to Rs 29,890 crore. The stock closed at Rs 1,985.25 on the BSE, 0.52% lower than the previous close.
There are two types of capital gains: long-term and short-term. Indexation helps reduce taxable gains by adjusting for inflation. Long-term capital losses can only be set off against similar gains, while short-term losses can be set off against any asset gains. Losses can be carried forward for eight years, but timely income tax return filing is essential.
Ola Electric Mobility Ltd. opened 3,200 new stores in a single day, expanding its footprint to 4,000 showrooms and service centers across India. This move seeks to address customer service issues and regain market share amidst intense competition and regulatory scrutiny. The expansion prepares for upcoming vehicle launches.