Stock market recommendations: Jio Financial Services, Tata Motors, and Finolex Industries are recommended for buying today based on technical indicators suggesting potential reversals.
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Leave Travel Allowance (LTA) allows salaried employees to claim tax exemptions on travel expenses within India. LTA can be claimed for a maximum of two journeys within a four-year block. Only transportation costs, such as airfare or train tickets, are covered. To claim LTA, employees must submit original travel documents and proof of expenses.
Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.
Goldman Sachs predicts a slowdown in government capex growth to 13% in the new fiscal year, down from 17% in FY24. The fiscal deficit is projected to narrow to 4.5% of GDP. The budget will likely focus on rural and welfare spending, job creation, and long-term economic policy towards 2047.
Aragen Life Science, formerly GVK Biosciences, secures a $100 million investment from healthcare-focused private equity fund Quadria Capital. The investment will support Aragen’s strategic expansion and infrastructure development to meet growing demand for outsourcing services from US and Europe innovators. This move positions Aragen strongly in the pharmaceutical outsourcing market, enhancing its capabilities and accelerating program delivery.
Infosys reported an 11.46% rise in net profit to Rs 6,806 crore for the December quarter FY25, driven by growth in financial services and manufacturing. Revenue growth boosts its FY25 guidance to 4.5-5%. The company added 5,591 employees, planning to hire over 15,000 more this fiscal.
The Union Budget 2025 is poised to announce a 20% increase in capital expenditure to stimulate economic growth and reduce the fiscal deficit to 4.4% of GDP for FY26. EY anticipates measures to boost domestic demand and personal disposable incomes, ensuring India's adherence to its long-term growth objectives.
Vembu would take up a new role as the chief scientist, he said in a X post on Monday.
President Trump has announced new tariffs on imported goods, dubbing it “Liberation Day.†The tariffs target countries including the EU, South Korea, Brazil, and India to spur domestic investment. However, experts warn of higher consumer costs, potential job losses, and strained international relations. Critics remain skeptical of the economic impact.
Dr Krishna Ella, co-founder of Bharat Biotech, has been awarded the prestigious INSA India fellowship for 2025 for his significant contributions to vaccine technology and biotechnology. His work led to the development of India’s first indigenous Covid-19 vaccine, Covaxin. Bharat Biotech, established in 1996, has delivered over nine billion vaccine doses worldwide.
Standard Glass Lining Technology Limited, a Hyderabad-based engineering equipment manufacturer, is launching its IPO with a price band of Rs 133 to Rs 140 per equity share. The IPO aims to raise Rs 410 crore with funds allocated for debt repayment, investments, acquisitions, and capital expenditure.