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“Under the National Food Security Act, now food is being given for free. Even the Rs 3 or Re 1 per kilo which the beneficiary was paying, they no longer need to pay. States need not pay the transport and logistical expenses also. MGNREGA is a demand-driven programme. At the Budget time, I give a certain amount and as the demand goes up, we increase it.”

The Nifty Bank index was trading 0.26 per cent up at 41606.75.

Some of these facilities – taken from global banks like Credit Suisse, JP Morgan, domestic NBFCs like JM Financial, Mutual Funds, etc – were due in May, some were already rolled over to September of this year and some this calendar year end while some were in January 2024.

The overall structure of the counter is favorable for investors that are looking to invest at such levels. The stock closed above the 200-SMA moving averages in the most recent trading session.

“Now if you were to remit say $10,000, 20% of that will be collected as tax at source and $8,000 will be remitted. That $2000 will be adjusted against your tax liability on the income in India or you will get a refund after you file your income tax returns. Earlier only 5% TCS was collected. Now a larger portion of your money is going to get blocked.”

State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 485677.37 Crore).

Theoretically the potential gains are enormous. A trader who sold $1 million Adani Enterprises Ltd. shares at the open on Feb. 1 and bought them back at the end of the same day after the record 28% plunge would have made about $280,000, excluding fees and transaction costs, according to Bloomberg calculations.

“Investing through ETFs is a good way, but investors should look for long-term investing because if you are trading very frequently, the charges are pretty much high and will eventually eat up all the profits because you lose around 1 to 2% in the forex conversion charges, plus there will be some withdrawal charges, plus there will be some purchase charges.”

On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the maximum Put OI is placed at 17700 and then towards 17500 strikes.“Nifty formed a Bullish candle with long lower shadow on a daily and weekly scale which indicates buying interest on declines.

Godrej Properties sold properties worth Rs 2,675 crore in Delhi-NCR, Rs 2,053 crore in the Mumbai Metropolitan Region (MMR), Rs 1,452 crore in Bengaluru and Rs 1,376 crore in Pune. These are the four major markets for the company. Godrej Properties, which is the real estate arm of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.