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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.

Government allocates Rs 84,700 crore to PM Awas Yojana, Rs 19,000 crore to Pradhan Mantri Gram Sadak Yojana. Cement makers like Ultratech, Ambuja, Shree, JK to benefit. Rs 26,000 crore for Bihar highways, Rs 15,000 crore Andhra Pradesh package, Rs 24,900 crore for metro projects. 100 cities to receive water supply, sewage, and waste management projects.

Shares of railway stocks fell up to 8% on BSE today after the Union Budget disappointed the Street, with no sector-specific announcements or allocation by the Finance Minister Nirmala Sitharaman.

Led by ITC and Titan, the Sensex recovered from the shock of increased capital gains taxes in the Union Budget, closing 73 points lower on Tuesday. The Nifty 50 ended down 0.12% or 30 points at 24,479, while the Sensex closed flat, dipping 0.09% to 80,429.