₹1 Lakh Crore Tax Relief & India-EFTA Deal: Big Wins for Markets & Economy?"
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🗞️ ₹1 Lakh Crore Tax Relief to Boost FMCG & Consumer Segments
A potential tax relief is expected to result in ₹1 lakh crore in savings, benefiting FMCG and consumer discretionary sectors. Analysts believe this will drive demand and economic growth.
Expert Opinion:
“This tax relief can stimulate spending, especially in discretionary goods, aiding economic recovery.” – Ananya Sharma, Market Analyst
🗞️ Ajax Engineering IPO Subscribed 28% on Day 1 Amid Flat GMP
The Ajax Engineering IPO saw a 28% subscription on its first day, while its Grey Market Premium (GMP) remained subdued, raising questions about investor interest.
Expert Opinion:
“Investors are cautious due to muted GMP. The next two days will be crucial for demand.” – Akash Gupta, IPO Analyst
🗞️ India-EFTA Trade Deal Likely Operational by 2025
Commerce Minister Piyush Goyal announced that the India-EFTA trade deal could be in force by the end of 2025. The deal aims to boost trade between India and European Free Trade Association countries.
Expert Opinion:
“This trade agreement will open new markets for Indian exporters and attract foreign investments.” – Rajiv Nair, Trade Consultant
🗞️ Global Talent Powers India’s Electronics Boom
Indian electronics firms are hiring global talent to boost local component production, aiming to strengthen domestic manufacturing.
Expert Opinion:
“A strong talent pool will help India become a global electronics manufacturing hub.” – Arvind Kapoor, Industry Strategist
🗞️ Delhi Govt Needs ₹13,000 Cr for Welfare Promises
The new BJP-led Delhi government faces a financial challenge, requiring ₹13,000 crore to fulfill its welfare commitments, raising concerns about fiscal management.
Expert Opinion:
“The government will need innovative revenue strategies to balance welfare and fiscal responsibility.” – Sunil Mehta, Economist
🗞️ Mankind Pharma Sells Stake in Mahananda Spa for ₹530 Cr
Mankind Pharma has exited Mahananda Spa by selling its stake to Chalet Hotels for an enterprise value of ₹530 crore, strengthening its core business focus.
Expert Opinion:
“This move aligns with Mankind Pharma’s strategy to streamline operations and enhance profitability.” – Ramesh Iyer, Equity Analyst
🗞️ Mid & Small Cap Investors Cautioned by ICICI Pru CIO
ICICI Prudential’s CIO has warned against over-exposure to small and mid-cap stocks, citing overvaluation concerns and advising caution in SIP investments.
Expert Opinion:
“Investors should assess risk tolerance as small caps appear overheated.” – Priya Das, Fund Manager
🗞️ MTNL Shares Surge After ₹6,000 Cr 4G Boost
MTNL stock gained momentum after the government approved a ₹6,000 crore package for its 4G expansion, enhancing its competitiveness in the telecom sector.
Expert Opinion:
“This package could revitalize MTNL, but execution speed is key.” – Aman Kohli, Telecom Expert
📊 Market Updates
📈 Sensex: Up 212 points, closes at 71,529
📈 Nifty 50: Gains 64 points, ends at 21,647
📈 Rupee: Strengthens to ₹82.98/$
📉 Gold: Falls slightly to ₹62,750 per 10g
📈 Silver: Rises to ₹75,900 per kg
📈 Brent Crude: Climbs to $80.1 per barrel
Hi Team - Are the prices of stock & gold mentioned as per current rates?