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The company is yet to finalize the amount of its upcoming interim dividend for the financial year 2024-25, pending approval. This will be its second interim dividend for the fiscal year, following an earlier payout of Rs 11. In the previous calendar year, the company distributed three interim dividends Rs 11 in December 2023, Rs 18.50 in May 2023, and Rs 20.50 in February 2023.

Spotify posted a record quarterly profit slightly ahead of analyst expectations on Tuesday, pushing its shares up more than 14% in premarket trading.

The proposed changes in capital gains tax rates in the Budget are estimated to garner an additional Rs 15,000 crore to the exchequer, Revenue Secretary Sanjay Malhotra said on Tuesday.

Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors.

Aimed at the trinity of fiscal prudence, investment, and growth momentum, the Union Budget saw the introduction of employment incentives and a simplified income tax regime, which should boost consumption.

Bajaj Finance Q1 Results: Bajaj Finance Ltd reported a 14% YoY rise in consolidated net profit to Rs 3,912 crore for Q1 FY2024, slightly below the estimated Rs 3,947 crore. Net interest income surged 25% YoY to Rs 8,365 crore, and pre-provisioning operating profit jumped 25% YoY to Rs 6,947 crore.

The Union Budget 2024 has measures for providing support to poor, women, youth and farmers. There is a provision of Rs 1.5 lakh crore towards education, employment and skilling. These measures augur well for the FMCG companies as they may result in more disposable income.

​By the way, MSMEs also the credit guarantee scheme as also the Mudra loan provision, which is the measures taken there, should also help the manufacturing sector. One important thing which I also mentioned which is that there are really no big bang things that you can see in the budget, but the FM has really focused on the fundamentals and on the macroeconomic stability for both the markets as well as the overall fiscal consolidation

The Nifty Realty index became the top sectoral loser today, falling by 2.3% as 9 out of 10 stocks ended the day in red, with Lodha being the top loser of the sector, dropping nearly 5%.

Ashish Chauhan thinks the hikes in STT and capital gains tax are lower than what most experts had expected and once people realise that the government wants people to invest more in the markets and capital formation – not in the speculative part, but in the investment part – they will start investing in the stock market.