Latest Stock Market News

Tata Power, Nelco, Indian Hotels Company, Voltas, Tata Investment Corporation, Tata Chemicals, and Tata Steel will all trade ex-dividend this month. Nelco, with a market cap of Rs 1,413 crore, is set to trade ex-dividend on June 6 with a final dividend of Rs 2 per share. Tata Power has announced a final dividend of Rs 2 per share and will trade ex-dividend on June 7. Tata Steel will trade ex-dividend on June 22 with a final dividend of Rs 3.6 per share. Indian Hotels Company and Voltas will trade ex-dividend on June 9.

The reality is that money supply has gone down precipitously. It is an amazing and that means that inflation will be coming down. It is already happening. So, I believe the central banks are being maybe too cautious at this stage.

ETMarkets is hosting a day-long webinar on June 3 with leading women traders to help traders navigate the market charts and develop effective risk management techniques. The event features sessions on the identification of multibaggers, momentum-based trading, basics of technical analysis, risk management, and different trading strategies. The webinar aims to help participants build a solid foundation in technical analysis, identify market trends, optimize entry and exit points, and make well-informed decisions. Nothing complex but effective.

​Kotak Institutional Equities (KIE) has added Aavas Financiers, KIMS and Sun TV Network to its model midcap portfolio while removing Max Healthcare.​

​Second is that it gives you flexibility to select your asset allocation. Now just think of it that without any tax implication, you can shift your asset allocation between equity, fixed income like within that corporate bond, government bond, and also there are now options for alternative investments or AIFs. So that ensures a good mix of asset classes also in your long term wealth accumulation.

In tier-1 there is no taxability. It falls under technically speaking EEE, exempt, exempt, exempt criteria so even the time when we are investing the money we get a tax benefit, that is a unique thing which NPS offers over and above the regular investments of 150000.

Indian equity indices closed lower for the second consecutive day due to investors booking profits. Bharti Airtel, Kotak Mahindra Bank, and ICICI Bank were among the top laggards, while Bajaj Auto, Asian Paints, and Tata Motors ended with gains.

Gold loan non-banking finance company Indel Money has announced its third tranche of public issue of Secured NCDs with the face value of Rs 1,000 each. The issue opens on June 6 and closes on June 19, with an option of early closure if oversubscribed. Proceeds from the issue will be used for onward lending and financing. The company has grown its assets under management by 72% to Rs 1,154 crore in FY23 and is targeting Rs 2,100 crore AUM in the current fiscal. Indel Money operates across eight states, with plans to expand to 15 states by FY25.

Indian regulator, Securities and Exchange Board of India (SEBI), has extended consultation on proposals aimed at proposing sweeping changes to the expense ratio of mutual funds in the country. The regulator is aiming to prevent distributors from pushing new fund offerings for higher commissions. The regulator has proposed that the total expense ratio (TER) charged by asset management companies should be levied at the AMC level and not at the scheme level currently, while also introducing performance fees for funds. SEBI has suggested the maximum TER for an equity scheme is 2.55% at the AMC level.

Sebi has extended the deadline for public comments regarding a proposal that seeks asset management companies (AMCs) to set up an institutional mechanism for the deterrence of possible market abuse and fraudulent transactions. AMCs should put in place surveillance systems and internal control procedures to deter possible misconduct by employees or other entities relating to fund management or investments of mutual fund schemes, the Securities and Exchange Board of India suggested.