Top Trending Finance & Stock Market News & Highlights
GST reform: starting Monday, these goods will be subject to the highest tax. View the complete list
September 22 GST changes: Under the new tax structure, which goes into effect on Monday, items falling within these categories will be subject to the newly revised highest tax rate of 40% GST. View the items' list here.After its 56th meeting on September 3, 2025, the GST Council, which is led by the Indian federal government, voted to streamline the indirect tax system in India by redesigning the current goods and service tax (GST) slab structure into a "two-tier" system.Indian customers will benefit from a revamped "two-tier" tax structure that goes into effect on Monday, September 22, 2025. Depending on the type of commodity sold in the country, it will be subject to either the 5% or 18% tax band. In India, GST is now imposed in four slabs: 5%, 12%, 18%, and 28%. However, the government has since modified these slabs. Many products sold in the Indian economy will see price reductions as a result of the federal government's action; nevertheless, starting Monday, a wide range of products will also be subject to higher consumer taxes. 1. Sin Goods: Generally speaking, sin goods are things that are detrimental to society and health, such as cigarettes and pan masala. Cigarettes, pan masala, beedi, and other tobacco goods including chewing tobacco and gutka, as well as online gaming and gambling, would all be subject to a 40% GST tax starting on Monday, September 22, 2025. 2. Luxury cars: Four-wheelers with an internal combustion engine (ICE) capacity greater than 1,200cc and a length greater than four meters were also placed in a 40% tax level by the GST Council. In the past, the ex-showroom pricing of SUVs and MPVs, which are included in this group, was increased by 28% GST and 22% Cess. 3. Over 350cc two-wheelers: The GST Council raised the tax rate for two-wheelers with engines larger than 350cc from 28% GST and 3% Cess to 40%. Despite the removal of the Cess levy, two-wheelers with engines larger than 350cc will now be subject to a higher tax rate. 4. Soft drinks: The central government raised the GST rate from 28% to 40%, which will result in a price increase for soft drinks and other non-alcoholic beverages like Coca-Cola, Pepsi, Mountain Dew, Fanta, and flavor-infused waters. 5. Items that cost more when you're in the 18% tax bracket: Items that will be subject to GST at the higher 18% slab starting on Monday, September 22, 2025, include dining at restaurants, particularly those with air conditioning and premium outlets; consumer durables like refrigerators, washing machines, and air conditioners; beauty and grooming services at salons and spas; and high-end smartphones and imported devices.
Published 23 Sep 2025 01:19 PM
Live Updates on New GST Rates: When GST 2.0 goes into effect, food, cars, and televisions all get cheaper.
GST Reforms 2025 List: Goods and Services Tax (GST) reforms have become effective today, September 22, marking a historical shift in the country’s indirect taxation by merging four slabs into two (5% and 18%) and a special tax slab of 40% for “sin goods".The GST council, led by Finance Minister Nirmala Sitharaman, early in September announced a major overhaul in the indirect taxation system, aimed at simplifying the slabs, boosting the consumption and rationalizing the rates. Under the new plan, the government is set to merge the four slabs into two main categories with an additional “sin tax" bracket: 5% slab — for essential goods. 18% slab – for most other goods and services. 40% slab – for luxury and sin goods such as tobacco, alcohol, betting, and online gaming. This consolidation is expected to make tax compliance easier and also reduce prices on many items currently taxed at 12% or 28%.This consolidation is expected to make tax compliance easier and also reduce prices on many items currently taxed at 12% or 28%.Consumers will see essential items becoming cheaper from September 22, as several sectors from FMCG to Auto have announced earlier to pass on the benefits of lower GST to them.
Published 22 Sep 2025 05:13 PM
Live updates for the ITR due date: Will there be another extension of the income tax return deadline?
Date of ITR due REAL-time updates: The deadline for filing Income Tax Returns (ITR) for the assessment year 2025–2026 is now. Over 6.69 crore returns have already been received by the Income Tax Department, of which over 6.03 crore have been validated and 4 crore have been processed.Taxpayers who miss today's deadline risk interest on unpaid taxes, delayed refunds, and late fines of up to ₹5,000 (limited at ₹1,000 for individuals with incomes up to ₹5 lakh). Therefore, it is essential to file and confirm returns on time in order to prevent fines and guarantee prompt refund processing.The deadline is applicable to non-audit instances, such as the majority of salaried individuals, small enterprises or professions under the presumptive taxation plan, and Hindu Undivided Families (HUFs). It is recommended that taxpayers refrain from spreading false information about extensions and instead rely solely on official updates from Income Tax India.In order to assist last-minute filers in appropriately completing submissions, the department's helpdesk is open around-the-clock and provides assistance via phone, live chat, WebEx sessions, and social media.The department's help line is open around-the-clock, providing assistance via phone, live chat, WebEx sessions, and social media to help filers who are submitting at the last minute appropriately.
Published 15 Sep 2025 05:53 PM
Closing Bell: Sensex up 324 points, Nifty above 24,950; IT and PSU Banks rise, automobiles down
On September 10, Indian equities indices concluded well, with the Nifty closing above 24,950. The Nifty was up 104.5 points, or 0.42 percent, at 24,973.10 at the closing, while the Sensex was up 323.83 points, or 0.40 percent, at 81,425.15.We'll be returning tomorrow morning with all the most recent news and alerts as we wind up today's Moneycontrol live market blog. To view all of the global market activity, please visit https://www.moneycontrol.com/markets/global-indices.On Wednesday, markets gained almost half a percent, continuing their upward trajectory. Following a gap-up beginning, the Nifty index spent the first half of the day moving within a small range. However, volatility in the second half of the day reduced some gains, and it ultimately finished around 24,973 levels.With advances of more than 2.5 percent, the IT sector maintained its recovery, followed by the real estate, banking, and energy sectors. The auto industry, on the other hand, saw profit booking following multiple outperforming sessions, losing more than 1%. With the midcap and smallcap indices rising between 0.75% and 1%, market breadth stayed strong, supporting the bullish tone in both frontline and broader markets.Positive foreign capital market flows following a period of persistent depreciation, as well as increased confidence regarding the status of trade discussions between the US and India, helped to boost sentiment and maintain the upswing.Although the markets are slowly rising due to encouraging signals, the Nifty will need to maintain its participation from the two main industries—banking and IT—in order to progress toward the 25,250–25,400 range. Support has moved to the 24,650–24,750 level on the downside. In order to build up fundamentally sound counters across the board, we advise employing intermediate drops or consolidation phases while keeping a positive bias.
Published 10 Sep 2025 08:40 PM
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Teslas winter woes: A storm of challenges and disruption
Tesla is grappling with operational, strategic, and environmental challenges that impact its stock value and investor focus. The recent challenges placing Tesla in the headlines, including operational disruptions, strategic market adjustments, and technological limitations in cold weather, have impacted its stock price, contributing to a 13% decline in the past thirty days. Tesla's analysts are concerned about business growth, which has shown signs of deterioration in recent quarters. This, combined with the company's high valuation, makes some analysts cautious about Tesla's stock in the medium term.Despite these concerns, Tesla's diverse business operations beyond just manufacturing cars offer some optimism. Its advancements in other areas, like energy solutions and technology innovations, provide potential growth avenues. However, the company's core focus on car manufacturing is subject to market cyclicality, which currently does not favor bullish sentiments.Investors eagerly anticipate the release of the Q4 earnings report and guidance for the fiscal year 2024, as it will impact the company's stock valuation. Manufacturing efficiency and the number of vehicles manufactured are pivotal in influencing investors' interest. While some investors maintain a positive outlook based on potential long-term growth, Tesla’s overall sentiment is a mix of optimism and caution. Some investors and Tesla stock analysts have adopted a bearish stance due to the company's prevailing challenges and market dynamics. Tesla's Berlin gigafactory is pivotal to its European market growth. The Berlin gigafactory has recently halted operations due to supply chain issues linked to the Red Sea blockade. This crucial maritime channel is integral to global trade, and its disruption has had a domino effect, underlining the vulnerability of global manufacturing networks to geopolitical strife. The Berlin factory, known for its state-of-the-art production capabilities, now faces uncertainties that concern investors, particularly regarding potential delays in vehicle production and distribution. This halt impacts Tesla's operational efficiency and places added pressure on its stock value as the market reacts to these unforeseen challenges and the possible implications for Tesla's European market performance and overall global supply chain efficiency.In response to intensifying competition in China and Europe, Tesla has strategically reduced prices for select models in these key markets. This price adjustment is calculated to strengthen Tesla’s standing, especially in China, where the demand for affordable electric vehicles is rapidly expanding. While this strategy could potentially increase Tesla's market share in the short term, it raises crucial questions about its long-term effects on its profitability and financial health. These concerns are particularly pertinent for investors as they weigh the implications of Tesla's pricing strategy on its future revenue streams and overall market sustainability.
Indias most valuable PSU remains a wealth destroyer
Life Insurance Corporation of India (LIC) overtook State Bank of India on Wednesday to become India's most valuable state-run company in terms of market capitalisation. At the start of trading on Wednesday, LIC had a market capitalisation of ₹5.66 lakh crore, compared to SBI's ₹5.64 lakh crore, though SBI recovered from opening lows to reclaim the top spot for a brief period again. However, despite becoming India's most valued company, LIC has caused loss of investor wealth. The stock listed at a discount in May 2022, a level it only crossed on Tuesday, nearly two years after listing. Although the stock has crossed the retail IPO price of ₹904, it remains below the original IPO price of ₹949. Over the last 12 months, the stock has gained only 27%, compared to other PSE index constituents like REC, PFC, BHEL and HAL, which have gained anywhere between 140% to 250% over the same time frame. In fact, LIC shares are the second-worst performers on the Nifty PSE index over a 12-month period, only ahead of Container Corporation of India, which is up 25%. LIC remains India's biggest IPO where the government sold a 3.5% stake to mobilise over ₹21,000 crore. That is the only stake sold in the open market yet as the government continues to hold the remaining 96.5%. DIPAM Secretary Tuhin Kanta Pandey in his prior interactions with CNBC-TV18 had mentioned that an LIC Follow-On Public Offer (FPO) is not on the cards yet. Additionally, unlike other PSUs, LIC has been granted an exemption from complying with minimum public shareholding norms. It can achieve the 25% minimum public shareholding by May 2032, instead of the usual three years. LIC shares have recovered from their 52-week low of ₹530 and despite this rally are trading at 0.85 times price-to-embedded value. Shares of LIC are trading 0.6% lower at ₹887.2. The stock is up 11% over the last month.
Sensex tumbles 1,628.01 points to close at 71,500.76; Nifty plunges 460.35 points to 21,571.95
The company has received additional orders worth ₹339.31 crore since the last disclosure on 26th Dec 2023 and these orders pertain to Combat Management System, Composite Communication System, Transmit / Receive Modules, Mobile Autonomous Stabilization System and other spares / services, said BEL in a filing to the exchanges. Nifty Banks Slides More Than 4%, Biggest Fall Since February 2022. HDFC Bank Records Worst Day In 3 Years, Falls Over 8% After Earning. HDFC Bank Contributes Over 50% Fall To Both Nifty & Nifty Bank. HDFC Bank Reacts Sharply To Earnings, Erases `1 Lk Cr Market Cap. BSE-listed Cos Erase Market Cap Of `4 Lakh Cr Today. All Sectoral Indices Close In The Red While Volatility Index Surges 11%. Sensex Slides 1,628 Points To 71,501 & Nifty 460 Points To 21,572. Nifty Bank Falls 2,061 Points To 46,064 & Midcap Index 516 Points To 47,152Except Bandhan, All Nifty Bank Constituents End In The Red. IEX Slides 11% On Power Minister’s Mkt Coupling Comment. Asian Paints Reports Earnings In-Line, Stock Is Down 2%. Pricol Sees Block Deals Of Over 15%, Minda Corp & PE Likely Sellers. IT Stocks See Buying Amid Market Sell-off, Most IT Stocks In The Green. ICICI Lombard Surges After An Improved Showing In Q3, Up 6%. L&T Tech Surges Despite Reporting Below-than-expected Results, Up 4%. Polycab Extends Gains, Closes With A Gain Of 2% Ahead Of Results. Market Breadth Fvaours Declines, Advance-Decline Ratio At 1:3.In what was touted to be a takeover attempt, Minda Corp mentioned that this was only a financial investment and will not fetch them any special rights in Pricol other than those of a normal shareholder. The management of Pricol had told CNBC-TV18 on February 17 that the promoters have no intention to sell any stake in the company as it is on the path of growth and is doing well. "I definitely do not want to sell. I'm 1,000 percent committed to this business," Mohan said. "Our market share has gone up. We have a very strong order book, zero long term debt, healthy cash profits, capacity, and we know we are on a growth curve. So why would I sell?" he further added. On January 4 this year, India's competition regulator had said that prima facie, the proposed merger by Minda may have adverse on competition and that it intends to conduct further inquiry into the process. Shares of Pricol are off the day's low, currently trading 2% lower at ₹360.70, while those of Minda Corp have surged to the day's high, currently trading 3% higher at ₹395.75.
Tech layoffs: Tencents Riot Games to lay off 11% employees
Riot Games, based in Los Angeles, is known for popular games like 'League of Legends'. The company stated that teams not directly involved in game development will be most affected by the layoffs.Riot Games, a subsidiary of Tencent Holdings, announced on Monday that it plans to lay off 530 employees, which is about 11% of its global staff. The news was shared in a blog post that included a letter from CEO Dylan Jadeja to the employees.Riot Games, based in Los Angeles, is known for popular games like "League of Legends". The company stated that teams not directly involved in game development will be most affected by the layoffs. The digital gaming industry is facing challenges as audiences are hesitating to buy expensive titles or are sticking to fewer games due to high inflation. This trend was also seen last year when Electronic Arts Inc cut 6% of its staff and reduced office space. In his letter, Jadeja explained, "We're a company without a sharp enough focus, and we have too many things underway. Some of the significant investments we've made aren't paying off the way we expected them to. Our costs have grown to the point where they're unsustainable."The layoffs will allow Riot to concentrate on its live games portfolio, which includes "League of Legends", "Valorant", "Teamfight Tactics", and "Wild Rift". This was mentioned in a separate blog post by Jadeja and co-founder Marc Merrill.Riot will halt new game development under "Riot Forge" and will reduce some staff and features in "Legends of Runeterra".Tencent, which bought a majority stake in Riot Games in 2011, also has a stake in U.S. video game developer Epic Games.
Tata Motors zooms to 52-week high on plans to hike vehicle prices
Shares of Tata Motors Limited traded over a percent higher at Rs 827 to hit a fresh 52-week high on January 23 after the company announced that it will raise the prices by 0.7 percent across its passenger vehicles portfolio, including electric vehicles, with effect from February 1. The automobile major said the main reason behind the hike is escalating input costs. Despite the announcement, specific revised prices for each car have not been disclosed by the company. At 9:26am, the stock was trading at Rs 825, up 0.7 percent from the previous close on the NSE. In the last year, the counter has had a stellar rally, gaining over 100 percent on the bourses. It was also the best performer on the Nifty in 2023. The hike isn't just restricted to internal combustion engine (ICE) vehicles, but also EVs where Tata Motors is the market leader. This comes after the company launched the new Tata Punch EV, its recent addition to the electric SUV segment. Before its launch, Tata had Nexon EV, Tigor EV, and Tiago EV. The development gains significance as Tata Motors isn't the first company to hike prices in 2024. Last week, Maruti Suzuki announced a 0.45 percent price increase for its models. The company’s diverse range of vehicles, from the entry-level hatchback Alto to the sports utility vehicle Jimny and the multi-utility vehicle Invicto.
Cipla shares rally 7% to hit 52-week high on strong Q3 earnings
Shares of Cipla rallied 7 percent to hit a 52-week high of Rs 1,409 in the opening trade on January 23, a day after the company reported a strong performance in Q3 on all key parameters of profit, revenue and profitability. The company's net profit for the quarter grew 32.7 percent on-year to Rs 1,049 crore despite an exceptional loss of Rs 194.8 crore. The bottomline growth was also aided by a 14.2 percent on-year increase in revenue to Rs 6,544 crore in the October-December period. Growth was largely broad-based across markets as the company clocked in its highest ever North American sales at $230 million, up 18 percent on year. The India business grew nearly 12 percent to Rs 2,859 crore, whereas sales from the South Africa recorded a near 10 percent rise to Rs 603 crore. Growth in the India business was driven by a strong performance across branded prescription, trade generics and consumer health, while that in North America was supported by continuing momentum in key assets and robust demand in base business along with some year-end buying.The South Africa business also benefitted from the increase in revenue in local currency terms. This performance was supported by positive traction in prescription, OTC (over-the-counter) and tender.
OnePlus 12 launch today: Check expected price, features, other specifications
The company has also confirmed the launch of the Snapdragon 8 Gen 2-powered OnePlus 12R. The OnePlus 12R also gets some upgrades compared to the OnePlus 11R. OnePlus is set to launch its latest flagship smartphones, the OnePlus 12 and OnePlus 12R, today. The event, dubbed “Smooth Beyond Belief,” will kickstart at 7:30 PM in India. Users who have bought passes for the event can witness it from the venue, Pragati Maidan in New Delhi, while the rest can virtually experience it via YouTube. The hero product of OnePlus’s launch event will be the Snapdragon 8 Gen 3-powered OnePlus 12. The OnePlus 12 is expected to be a massive upgrade over its predecessor and will offer features like a 4th Gen Hasselblad camera system, a 5,500 mAh battery, and wireless charging. The device is also confirmed to include one of the brightest 2K resolution AMOLED screens with a 120Hz refresh rate. It is also confirmed that the OnePlus 12 will receive four years of major software updates. The company has also confirmed the launch of the Snapdragon 8 Gen 2-powered OnePlus 12R. The OnePlus 12R also gets some upgrades, featuring a metal frame with an overall design and build quality similar to the OnePlus 12. In addition to the smartphones, OnePlus will also unveil the OnePlus Buds 3. The Buds 3 is expected to offer better audio quality and noise cancellation capabilities when compared to the OnePlus Buds 2 Pro. According to the information provided by tipster Abhishek Yadav, the OnePlus 12 is anticipated to debut with a base price of Rs 64,999. Meanwhile, the variant with 16GB RAM is projected to have a price tag of Rs 69,999. The OnePlus 12R is said to be available for purchase in February. Besides this, another tipster, Ishan Aggrawal, has revealed that the upcoming smartphones will come with bank deals, trade-in bonuses, and no-cost EMI options. He also mentioned that the initial 1,000 orders will be rewarded with gifts, a discount of up to 50 per cent on the protection plan, and a Rs 3,000 reduction on the OnePlus Pad.
Everyman Media Group Earnings, Revenue Rose Despite Strikes
Premium cinema group Everyman Media (EMAN) said the resounding box office success of Barbie and Oppenheimer led to strong summer trading leaving it confident of meeting full year expectations. Unfortunately, both revenue and adjusted EBITDA (earnings before interest, tax, depreciation, and amortisation) fell in the first half to 29 June, admittedly against strong prior year comparatives. Investors seemed unmoved by the upbeat outlook, with the shares dropping 1% to 55p capping a disappointing 12 months for shareholders with the shares down 44%. Chief executive Alex Scrimgeour commented: ‘We are pleased to report that trading continues to be in line with the board's expectations, having achieved robust interim results despite this year's major film titles falling in the second half of 2023. We remain confident in our prospects as we continue to be supported by a slate of high-quality second-half releases, a carefully expanded estate and new banking facilities which ensure we are well configured to take advantage of future opportunities.’Revenue fell 6% to £38.3 million in the first half, but strong trading in July and August transformed the picture with year-to-date revenue 13% higher at £60 million while EBITDA was 12% ahead at £11 million.Everyman expects to meet full-year consensus forecasts which call for revenue of £94.4 million, representing 20% growth, and EBITDA of £17.2 million compared with £7.9 million in 2022. Having opened three new venues in the first half, taking the estate to 41 cinemas and 141 screens, the company has a healthy pipeline of new opportunities.A new two-screen venue will open in Marlow in the current quarter, while a further five venues are planned for 2024 including a three-screen venue in Stratford in the third quarter.The firm agreed a new three-year loan facility of £35 million replacing a £25 million revolving credit facility and £15 million Covid interruption loan. Leisure analyst Mark Photiades at Canaccord Genuity commented: ‘The film slate for Q4 and beyond is strong with a number of major releases and independent films due including Wonka, Ferrari, Napoleon, Killers of the Flower Moon and the latest instalment of The Hunger Games.’Photiades left his forecasts unchanged but reiterated his buy rating, saying, ‘Everyman remains a premium brand, synonymous with offering a first-class cinema and hospitality experience & a best-in-class food and beverage offer prepared in-house.’
Kanika Pasricha is appointed top economic adviser by the Union Bank of India.
According to the bank's regulatory filing, the appointment has a three-year contractual term that is extendable by one year at a time for a maximum of five years assuming acceptable performance.Pasricha was previously employed by Standard Chartered Bank as a director of global research and economist. She was employed by ICICI Bank Ltd. as a chief manager and economist.Ms. Kanika Pasricha was named Chief Economic Advisor of Union Bank of India, a public sector bank with its headquarters located in Mumbai, on January 23. She was hired on a contractual basis for a three-year term that can be extended by one year at a time, with a five-year maximum term possible for good performance.Ms. Kanika Pasricha, a 38-year-old economist with over 15 years of expertise, works in the field. She graduated with a graduate degree in arts in economics from Delhi University and an MA in economics from Delhi School of Economics.She was previously employed by Standard Chartered Bank as an Economist (Director) - Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.Leading Indian public sector bank Union Bank of India Limited (UBI) announced that Kanika Pasricha has been appointed Chief Economic Advisor (CEA), effective January 23, 2024. "We wish to inform you that Ms. Kanika Pasricha has been appointed as the Chief Economic Advisor of the Bank," the bank said in its exchange filing, "in terms of Regulation 30 read with Clause No. 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015."Kanika Pasricha, a 38-year-old economist, has over 15 years of expertise in the field. She holds an MA in Economics from Delhi University's Delhi School of Economics as well as a Graduate Arts degree in Economics from Delhi University.She was previously employed by Standard Chartered Bank as an Economist (Director) in Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.
ZEE stock at 130 rupees? When Sony's deal was terminated, the stock saw sell recommendations and PE depreciating.
Given the sharp convergence of linear TV growth, Elara Securities believes ZEE may see a sharp de-rating in the P/E valuation of its broadcasting company, to at least 10 times one-year forward or below, as a result of the incomplete merger.The termination of the merger agreement by Sony India due to purported breaches of the conditions of the merger cooperation agreement (MCA) could have a significant negative impact on ZEE Entertainment Enterprises Ltd's values in the near future. A few brokerages changed their recommendations to "Sell" for the shares when Sony demanded termination fees of $90 million. With their current target prices for ZEE slashed by up to 50%, experts declared that the transaction termination is a lose-lose situation for both parties.When the company's stock declined in value in 2019 due to a problem involving promoter share pledges and a decline in business cash conversion, ZEE's corporate governance came under scrutiny. Analysts noted that the Zee-Sony combination would have resolved ZEE's low promoter ownership issue, but they also predicted that shareholder activism against ZEE management will occur in the near future.Given the sharp convergence of linear TV growth, Elara Securities believes ZEE may see a sharp de-rating in the P/E valuation of its broadcasting company, to at least 10 times one-year forward or below, as a result of the incomplete merger.ZEE's OTT service might not be able to grow in size in a market that is so fragmented and profitable; the company stated that the Ebitda margin, excluding sports losses, might converge to 14%. Elara is concerned about any additional inventory write-offs, connected parties' debt, and Disney's noncompliance with the sports contract (ICC tournaments).The main factor that increased valuation during the previous two years was the merger with Sony. However, we lower ZEE to Sell due to the termination, with a revised March 2025E objective of Rs 170 from Rs 340. However, the target price can increase to Rs 130 if the Disney deal is upheld. Another strategic or financial partner purchasing the majority of Zee's shares could give the value multiple some relief, according to Elara.According to Emkay Global, both parties stand to lose from this arrangement, especially given the rivalry from Reliance-Disney, a larger potential player. As stated in their press release, Emkay Global stated that the termination should also lead to a legal battle between the two involved corporations."We think that shareholder activism against ZEE management may potentially be sparked by this breakdown. Furthermore, we believe that ZEE will now attract more bidders for possible agreements. Because of the stock's poor competitive posture and escalating corporate governance concerns, we currently lower it from Buy to SELL (from Buy). We reduce our target from Rs 315 to Rs 175 at eight times the Dec. 25E SA broadcasting Ebitda, according to Emkay.Due to Sony's request for a termination fee, uncertainty surrounding ZEE's new strategy and partners, and actions taken by its minority stakeholders, Nuvama Institutional Equities believes that ZEE's near-term valuation will remain low. "Our favourable opinion was based on the merger. The statement read, "We are cutting FY25E/26E EPS by 16 per cent/24 per cent; downgrade to 'REDUCE' with target of Rs 190 (13 times PE FY26E)," in light of the shifting dynamics of the business and the slower ramp-up of ad income. In addition, CLSA lowered its target price for ZEE from Rs 300 to Rs 198 since it thinks the competition will likely get more fierce following the rumored Reliance and Disney Star combination. "We think ZEE's PE will drop back to the 12x levels observed before the August 21 announcement of the Sony deal. Zee's stock PE had previously depreciated amid the promoter share pledge problem (in 2019) and the decline in corporate cash conversion, according to CLSA. This was also the time of the Covid-19 second wave.
The IT companies Accenture, TCS, and Infosys have higher brand values than Wipro.
Despite a slow growth environment and disruption from newer technologies, IT services firms Accenture, Tata Consultancy Services (TCS), and Infosys managed to increase the value of their brands. The Brand Finance 2024 report states that the three IT behemoths ranked highest on the charts of IT brands. Accenture's $40.5 billion brand value, up 1.6% from the previous year, keeps it as the most valuable IT services brand in the world.Brand Finance research indicates that Accenture is well-positioned to seize the mega-trend—generative large language models—which is garnering a lot of attention and has the potential to completely transform industries and businesses. The second-place finish went to homegrown IT heavyweight TCS, whose brand value increased by 11% to $19.2 billion. Among global IT majors, the incremental brand value increased to nearly $2 billion from $17.2 billion the previous year, making it the highest in absolute terms. This was "driven by consistent investments in AI-readiness and a commitment to sustainability," according to a statement from TCS. The only significant provider of IT services, Wipro, which is backed by billionaire businessman Azim Premji, saw its brand value decline by 7.6% annually to $6.2 billion. Over the past few years, Wipro has lagged behind as it struggles to turn the business around in a competitive market. Additionally, a number of departures have occurred, with about ten senior executives leaving in 2023.
Crypto Price Today: Bitcoin Falls Below $40,000, Small Gains Seen by Tether, USD Coin
On Tuesday, January 23, the price of bitcoin showed a 3.63 percent decline. As a result, Bitcoin is now worth only $39,820, or about Rs. 33 lakh. For the first time in the previous two months, the price of Bitcoin has fallen below $40,000, or approximately Rs. 33 lakh. The price of Bitcoin dropped by $1,175 (approximately Rs. 97, 635) in the last day. Most cryptocurrencies followed Bitcoin on the loss-making side of the price chart. On Tuesday, Ether saw a 4.04 percent decline. When this article was written, the price of ETH was $2,336 (about Rs. 1.94 lakh). In the past day, the price of ether dropped by $81 (about Rs. 6,730). For the first time in fifty days, Bitcoin fell below $40,000 (approximately Rs. 33 lakh) as the Bulls were unable to maintain the support line. Those new investors who made large investments during the spot ETF announcement are currently sitting at nearly a twenty-five percent loss. During the late hours of US Monday trading, altcoins also experienced a deep red decline as concerns about ETH falling below the $2,000 (roughly Rs. 1.66 lakh) mark resurfaced in the markets. The Ethereum Foundation's sale of 700 ETH for about $2,400 (about Rs. 1.99 lakh) each served as the catalyst for this. Such token foundation sell-offs typically indicate a local peak, which may have occurred prior to the Bitcoin halving.After a tremendous bull run, the cryptocurrency market is currently experiencing a healthy retreat. As ETFs increase their AUM and encourage widespread adoption of the biggest digital asset in the world, we might witness a more stable Bitcoin. The CEO of BuyUcoin, Shivam Thakral, told Gadgets360, "Top Trader Henrik Zeberg shared a new Bitcoin price prediction of $120,000 (roughly Rs. 99.7 lakh). However, we will have to wait and see how the market moves in the coming weeks."
Briefcase To "Bahi Khata": Evolution of Budget Presentation Through Time
On February 1, Union Finance Minister Nirmala Sitharaman is scheduled to deliver the Interim Budget. Delhi, New: Finance ministers have been pictured bringing a briefcase into Parliament to present the Union Budget for decades. Nirmala Sitharaman called a 'bahi khata' in 2019 and abandoned this practice, which was a significant change. In 2021, she decided to switch to a paperless format and use a tablet that was "Made in India." It's amazing to see how the Union Budget is presented—from a briefcase to a fully digital format. The Interim Budget for FY 2024–25 is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. Following the 2024 Lok Sabha elections and the establishment of a new government, a comprehensive budget will be presented. In 2019, Union Minister Piyush Goyal, while holding the additional charge of the Ministry of Finance, presented the last interim Budget. Ms Sitharaman presented her maiden Budget on July 5, 2019, after assuming charge as the finance minister following the Narendra Modi-led government's second consecutive win in the general elections. Let's examine the background of the Union Budget presentation exercise before the Budget 2024:
Asset Tokenization and DeFi for the Masses: The CEO of Giottus Reveals Crypto Trends That Could Be Big in 2024
The Web3 space appears to be in a constant state of flux, with blockchain-based ideas emerging and disappearing on a daily basis. For example, the sales of non-fungible tokens (NFTs) fell to an all-time low last year, but the Ordinals subcategory of these digital collectibles was able to pique buyer interest once more. The CEO of the Giottus cryptocurrency exchange, Vikram Subburaj, provided a list of several Web3 trends that are anticipated to become popular in 2019 in an interview with Gadgets360. According to Subburaj, the mass adoption of decentralized finance (DeFi) and real world assets (RWAs) is underway this year. Digital representations of tangible or conventional assets are generated on a blockchain network as tokens via RWAs. Each token represents a different attribute and represents a portion of the entity. Asset liquidity may rise as a result of tokenization. An owner of real estate, for example, might choose to sell 50,000 tokens of a tokenized real estate rather than the entire property and forfeiting its use as a livable space. Consider them NFTs for items such as bonds, art, or even real estate. The tokenized RWA ecosystem that is currently accessible on-chain is estimated to be worth $2 billion, or approximately Rs. 17,452 crore, according to Subburaj. He also predicted that as more people become aware of the concept, tokenizing assets will likely pick up speed this year.
Galaxy S24 Ultra vs S23 Ultra: How Samsung’s top-end phones stack up
Samsung’s flagship Galaxy S series sees its latest iteration with the new Galaxy S24 Ultra, succeeding last year’s S23 Ultra. While retaining the S series DNA, Samsung has made subtle but meaningful upgrades to the S24 Ultra’s design, display, performance, camera, and software capabilities. But are these incremental improvements compelling enough for S23 Ultra owners to upgrade? Let’s find out. The design evolution from the Samsung Galaxy S23 Ultra to the new S24 Ultra is subtle. While retaining the recognisable tall, rectangular shape with ever-so-slight rounded edges, the S24 Ultra trims a wee bit of fat, shaving off 2 grams of weight for a total of 232 grams. It also slims down by 0.3mm to 8.6mm thickness. That said, this is not exactly a dramatic reduction from the S23 Ultra’s 234 gram weight and 8.9mm thickness. And if we’re being honest, we expected more in terms of weight reduction considering the phone gets a titanium frame this year. For comparison, the iPhone 15 Pro Max saw a substantial 20-gram weight loss by shifting to titanium.A more meaningful improvement is seeing upfront of the handset, which thanks to the combination of a flat display and a trimmed bottom bezel, now features symmetrical bezels all around. The S24 Ultra also introduces an appealing new lineup of colour options. The S23 Ultra played it relatively safe with Phantom Black, Cream, Green and Lavender as widely available colours. By contrast, the S24 Ultra really embraces colour with options like Titanium Gray, Titanium Black, Titanium Violet, and Titanium Yellow for all retailers. Even bolder Titanium Green, Titanium Blue, and Titanium Orange colours join the lineup as Samsung.com exclusives. The most noticeable change with the new Galaxy S24 Ultra is that its display has been hammered completely flat. Samsung has progressively reduced the display curvature of the Ultra models over the past couple of years and it’s now finally settled for completely flat edges, with the S23 Ultra being the last holdout with curved edges. Additionally, the S24 Ultra gains a brightness boost up to 2600 nits peak compared to 1750 nits on its predecessor, which should make the screen more visible and usable outdoors. The Galaxy S24 Ultra features an upgrade in processing power over its predecessor, packing the latest Qualcomm Snapdragon 8 Gen 3 chipset. This replaces the Snapdragon 8 Gen 2 found in last year’s Galaxy S23 Ultra model.With artificial intelligence being all the rage, the upgraded Snapdragon processor aims to provide a boost to AI capabilities. Qualcomm’s already shown that the new chip brings faster performance when using large language models, Stable Diffusion, generative AI applications and more that leverage machine learning.The new chip is also engineered to deliver enhanced graphics for mobile gaming without sacrificing battery life. However, we’ll have to get our hands on the S24 Ultra to see if these performance gains are as substantial as promised over the previous generation. Samsung’s flagship Galaxy S series has seen incremental upgrades over the past few generations, with no major leaps forward each year. However, with the launch of the Galaxy S24 Ultra, Samsung is focusing on revolutionary AI capabilities rather than minor spec bumps. The standout upgrade in the S24 Ultra is Galaxy AI, a suite of useful AI-powered features. While the S23 Ultra boasted impressive hardware, it simply can’t compete with the S24 Ultra’s intelligent software. Galaxy AI enables real-time translation during calls and texts with Live Translate. It also offers in-person translation with Interpreter mode. For productivity, Note Assist provides handy summaries and formatting for your notes. Chat Assist helps you strike the right tone in messages, whether chatting with coworkers or connecting on social media. And Circle to Search lets you draw a circle around anything on screen to instantly search for it.The new Samsung Galaxy S24 Ultra boasts of several AI-powered image editing and enhancement features over its predecessor, the S23 Ultra. But when you strip away the AI-powered software tricks, the hardware isn’t as different as you might expect. Let’s break it down. The S24 Ultra comes loaded with nifty new AI camera features like Edit Suggestion, which makes recommendations to improve your photos, and Generative Edit, which can fill in background details using AI. There’s also Instant Slow-mo for buttery smooth slo-mo videos. Pretty neat stuff.
Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad
Google Pay and National Payments Corporation of India (NPCI) will work together to expand Unified Payments Interface (UPI), the instant payments system widely used in the country, to international markets, Google and NPCI confirmed Wednesday. A Memorandum of Understanding (MoU) has been signed between Google Pay India and NPCI subsidiary, NPCI International Payments Ltd (NIPL), to bring the instant payment functionality to other countries. UPI has become a widespread mode of digital payment throughout India in recent years, with interoperability between payments apps like Google Pay, PhonePe, and Paytm. The value processed via UPI payments in 2023 stood at Rs. 167 lakh crores, according to Google.The MoU signed between Google Pay India and NIPL primarily seeks to ease digital payments abroad for travellers outside of India. The collaboration will also aid in establishing a UPI-style digital payments infrastructure in other countries, a press release for the announcement said. Additionally, Google and NPCI also aim to leverage the UPI infrastructure to ease the process of remittances between countries, thus simplifying cross-border financial exchanges. “UPI has demonstrated to the world the step change that happens in economies with the introduction of interoperable, population scale digital infrastructure and each economy that joins such networks will create impact beyond the sum of parts,” Deeksha Kaushal, director of partnerships at Google Pay India said.According to the press release, the initiative will also help bring Indian customers to foreign merchants, reducing the need for credit or forex cards and instead allow UPI apps like Google Pay for international digital payments. “This strategic partnership will not only simplify foreign transactions for Indian travellers but will also allow us to extend our knowledge and expertise of operating a successful digital payments ecosystem to other countries,” Ritesh Shukla, CEO of NPCI International Payments Limited, said. Last year, Google Pay introduced a UPI Lite feature on its platform that enables small-value digital payments with just one tap, without the need to enter the UPI PIN, as required in regular transactions. UPI Lite supports a maximum instant transaction of up to Rs. 200 at a time. Users can load their UPI Lite account with up to Rs. 2,000, twice a day.In August, the Reserve Bank of India (RBI) increased the UPI Lite transaction limit from Rs. 200 to Rs. 500. The overall wallet limit, however, was retained at Rs. 2,000 only. A month later, NPCI said that UPI transactions had crossed the 10-billion mark in August. According to the NPCI data, number of UPI transactions stood at 10.24 billion on August 30. In value terms, the transactions amounted to Rs. 15,18,456.4 crore exchanging hands.
Volvo’s 10,000th car in India is its first pure electric offering
Volvo Car India has achieved a significant milestone by producing its ten thousandth car at its Bangalore facility. The company, which began assembly operations in 2017, has seen the highest production of the XC60 model, with over 4000 units produced to date.Jyoti Malhotra, Managing Director of Volvo Car India, in a company statement, revealed that the honour of being the ten thousandth car produced goes to the XC40 Recharge, the company's first pure electric offering.Malhotra said, "It is indeed a matter of pride for the company to have reached this milestone in a short span of time in spite of nearly three years of pandemic disruptions."Gao Feng, Production Head of Volvo Car India, highlighted the plant's achievement of rolling out India's first domestically assembled electric vehicle (EV), the XC40 Recharge. Today, the company assembles all its models in India, including the XC90, XC60, S90, XC40 Recharge, and the recently launched C40 Recharge.Meanwhile, Volvo Car India announced a 2% price increase for its conventional engine vehicles on Monday, while the prices of its EV offerings remain unchanged.Following the price hike, the XC60 is priced at ₹68.9 lakh, the S90 at ₹68.25 lakh, and the XC90 at ₹1,00,89,000.However, the prices of the XC40 Recharge and C40 Recharge remain unchanged at ₹57.9 lakh and ₹62.95 lakh, respectively.
Tata Punch facelift launch confirmed for 2025
The Tata Punch petrol will see a mid-life facelift sometime next year. Confirming this development on the sidelines of the Punch EV launch, Tata Motors’ Passenger Vehicles Unit MD, Shailesh Chandra, said, “As far as the upgrade of the Punch is concerned, you know that it was launched in October 2021. Typical facelift period is three years. So, we should be expecting a facelift for the ICE version only in mid-2025, or slightly later.” Just like what we’ve seen on the Nexon and Harrier facelifts recently, expect Tata Motors to update the Punch SUV’s styling with fresh design cues to bring it in line with the newer Tata models. Changes to the front bumper and grille, along with minor tweaks to the headlamps and the bonnet can be expected to make the small SUV look new.Like the Nexon and the Nexon EV facelift, there will be styling bits that will help differentiate the petrol-powered Punch from the recently launched Punch EV. What’s more, Chandra also said that the Punch will have feature differences between the petrol and EV versions.
