Macobs Technologies debuted on the NSE SME with a 28% premium, opening at Rs 96 compared to the issue price of Rs 75/share. Pre-listing, the company's shares traded with a Rs 14 premium in the unlisted market. The IPO, offering 25.95 lakh fresh equity shares, was oversubscribed over 200 times due to robust demand from non-institutional investors.

Finance Minister Nirmala Sitharaman raised the STT on options to 0.1% effective October 1. Analysts predict minimal impact. SEBI's 'True to label' circular targets retail speculation, as highlighted by Madhabi Puri Buch. Dhiraj Relli notes adaptability. The Economic Survey cautions on retail speculation. India's strong presence in global options trading and high trade losses are noted.

Despite reporting a 3% YoY increase in net profit at Rs 2,538 crore for the quarter ending June 30, 2024, in line with the Street's estimate of Rs 2,541 crore, Hindustan Unilever (HUL) saw its shares plummet by 3.3% to Rs 2,674 in Wednesday's intraday trade on BSE.

Kataria Industries debuted on the NSE SME platform with a 90% premium, opening at Rs 182.4 compared to the IPO price of Rs 96 per share. Pre-listing, shares traded with a Rs 105 premium in the unlisted market. The IPO, offering 56.85 lakh shares, was oversubscribed over 300 times due to robust demand from non-institutional investors. Proceeds will fund plant expansion, debt repayment, and corporate needs.

Equity indices in India opened lower post-capital gains tax hike. Sensex down 0.05% at 80,396; Nifty50 0.11% lower at 24,451 by 9:20 am. Indices fell up to 1.6% Tuesday but recovered on rural program boost in Budget.

MRF declared a Rs 194 Q4FY24 dividend per share and a total annual dividend of Rs 200 for FY24, with a July 25 record date. Shares closed at Rs 1,31,267.70 on BSE. Prior dividends include Rs 3 interim and Rs 169 final.

ITC's shares soared nearly 10% in 2 days, surpassing Rs 500 and hitting a record Rs 510.60 on BSE. A 5% jump followed after the government kept tobacco tax rates unchanged. Taxation, handled by the GST Council, includes NCCD on cigarettes, adjustable in Budget.

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Investec has maintained a hold rating for HUL and increased the target price to Rs 2,797 from Rs 2,439. The company's Q1 performance slightly exceeded expectations across all metrics, with anticipated gradual improvement. Categories such as UVG were affected by Personal Care and Foods, while premium categories are expected to show stronger growth moving forward.

Select stocks where short term traders can look to take a momentum trade.

67 companies, including L&T, Axis Bank, Bajaj Finserv, and SBI Life, will release April-June 2024 results. L&T expects 8% growth. Axis Bank's net interest income is up 11%, with net interest margins down; it reported Rs 7,130 crore profit in March quarter compared to last year's loss. Results from various companies are anticipated.

The market saw marginal decreases as the government proposed increasing the securities transaction tax on futures & options. Indian Hotels, JSW Steel, and BPCL were in focus. Expert advice recommends buying Indian Hotels and BPCL while avoiding JSW Steel at the moment.

India's fiscal strategy aims to reduce debt-to-GDP by 2026-27. Budget increases capital gains tax amid SEBI's market exuberance warning; property sales tax raised to 12.5%, with decreased holding periods benefiting homebuyers. Strong external balances and forex reserves cut gold import duty to 6%.

The budget highlights fiscal prudence, skilling, social sectors, and domestic manufacturing, with higher Capital Gains Taxes and tax simplification effective April 2025. Amid an overvalued equity market, cautious investing is recommended. Private sector banks remain attractive, balancing increased IPO and rights issue issuance. While economic growth hasn't fully boosted employment, investment flows stay robust.

The recent budget emphasizes spending in the farm and rural economy, reduces income tax for middle-income households, and promotes employment and fiscal consolidation. Although higher capital gains tax and unchanged capex could disappoint, it includes social welfare schemes, a lower fiscal deficit, market borrowing, and beneficial impacts on bond yields, consumer durables, two-wheeler, QSR, pharmaceuticals, and telecommunications sectors.

India's fiscal strategy aims to reduce debt-to-GDP by 2026-27. Budget increases capital gains tax amid SEBI's market exuberance warning; property sales tax raised to 12.5%, with decreased holding periods benefiting homebuyers. Strong external balances and forex reserves cut gold import duty to 6%.

The budget highlights fiscal prudence, skilling, social sectors, and domestic manufacturing, with higher Capital Gains Taxes and tax simplification effective April 2025. Amid an overvalued equity market, cautious investing is recommended. Private sector banks remain attractive, balancing increased IPO and rights issue issuance. While economic growth hasn't fully boosted employment, investment flows stay robust.

GAIN DRAIN Tax on long-term capital gains raised from 10% to 12.5%, while short-term capital gains up from 15% to 20%

The new budget shifts share buyback taxes to investors, impacting promoters, large shareholders, and exit strategies, particularly in family settlements. Tax rates on accumulated funds often exceed 23%, according to Ketan Dalal. Prime Database noted 48 firms, including tech companies, spent ₹48,079 crore on buybacks in 2023. The buyback tax started in 2013 for unlisted, extended to listed in 2019.

The stock market initially dropped due to higher capital gains taxes but rebounded. Key corporate earnings rely on capex and consumption, bolstered by budget allowances and deductions. Retail participation and DII buying sustain high valuations.

Indian equity benchmarks saw minor declines: Nifty dropped 0.12%, Sensex 0.09%. Investor caution persisted over high valuations and new capital gains tax. Nikhil Ranka predicted consolidation between 23,700 and 24,500, while Chirag Mehta foresaw potential corrections. Mid-cap and small-cap stocks weakened; 2,223 BSE stocks fell. Quantum Mutual Fund noted capex disappointment and lack of demand-boosting measures.

The budget presents a mixed bag for capital markets and entrepreneurship. Speculative trading faces increased taxes on futures and options, while startups receive support with lower capital gains and removal of 'angel tax'. A delicate balance is maintained between market stability and startup growth.

The budget focuses on key areas like agriculture, employment, and infrastructure, with efforts to simplify taxation. Market valuations are high, calling for a cautious investment approach. Diversified asset allocation is recommended for balanced risk and return.

The government has proposed a 60% increase in STT on equity derivatives, affecting trading costs for high-frequency traders. Sebi may implement stricter measures to regulate the market. Retail traders may not be significantly impacted by the changes.

Wall Street's main indexes closed slightly lower as investors turned attention to earnings reports from Alphabet and Tesla. Both companies reported positive revenue numbers for the second quarter. Market awaits tech giants' earnings to gauge market valuation. Small-cap stocks showed a 1% increase, while megacaps initially lifted markets before overall declines.

Markets initially slumped but recovered on Budget day. Gift Nifty fell 60 points. Rajesh Bhosale observes an overbought market. India VIX dropped 17.43%. GNFC, India Cements, SAIL are in F&O ban. Rupee hit record lows, FIIs were net sellers, DIIs net buyers. Crude prices rose, and global indices fluctuated. Bullish reversal pattern anticipated in Nifty.

Asian equities fall as tech giants post underwhelming earnings. Taipei stock market closes due to typhoon. Concerns over US election impact on market. Investors cautious amid economic troubles and geopolitical risks in China and Japan. Big Tech faces tough comparisons with previous stellar earnings cycles.

Equity markets react to capital gains tax hike but recover losses. Focus on L&T, Axis Bank, HUL, Bajaj Finance, Tata Consumer for news developments and earnings. Companies like Bajaj Finance and ICICI Pru Life report positive profit growth. South Indian Bank plans fund raising, while Torrent Pharma and Tata Consumer announce financial results.

The paint stock reached a peak of Rs 679 on September 22nd, 2023, but subsequently experienced a decline, closing at Rs 526 on July 22nd, 2024, representing a drop of over 22%. Following its 52-week high, the stock faced downward pressure from bears. However, it found support above Rs 430 on June 4th, 2024, and initiated a recovery.

Indian benchmark equity indices ended a see-saw session marginally lower on Tuesday. The S&P BSE Sensex closed 0.09% lower at 80,429, while the NSE Nifty50 index ended below the 24,500 level."The short-term trend of Nifty remains negative with high volatility. The emergence of sharp buying and the formation of a positive candle pattern is signaling the occurrence of bullish reversal pattern in the coming sessions. A sustainable move above 24650-24700 could open the next upside towards 24850-24900 levels in the near term. Immediate support is at 24100 levels," said Nagaraj Shetti of HDFC Securities.Here are 5 stock recommendations for Wednesday:

Aashish Somaiyaa, CEO of WhiteOak Capital Asset Management, criticised the decision to tax share buybacks, describing it as a "double tax" on investors. He expressed surprise at the rationalisation of the capital gains structure, highlighting that various measures would now increase the tax burden for investors, especially those with long-term investments across different asset classes.

Shares of Bharat Petroleum Corporation (BPCL) today ended at Rs 306 on the NSE, down by Rs 2.25 or 0.73% over the previous closing price. Meanwhile, Hindustan Petroleum Corporation (HPCL) shares settled at Rs 345 falling by 0.5%. Indian Oil Corporation (IOC) was the top loser falling 1.4% to close the session at Rs 165.85.

UBS Securities economist noted that from FY27 onwards, the government would shift to a new medium-term fiscal consolidation path linked to the reduction in central government debt as a percentage of GDP. He believed this would provide them with more flexibility to determine an appropriate fiscal trajectory based on domestic and global growth dynamics.

Sensex and Nifty, which survived and even thrived after the June 4 election result shocker, were staring at yet another uncomfortable moment - the tax burden imposed by the Union Budget. Here are the takeaways from FM Sitharaman’s ‘Laal Pothi’ for stock market investors.

Jewellery stocks surged up to 13% on Tuesday after Finance Minister Nirmala Sitharaman announced a reduction in customs duty on gold and silver to 6% and on platinum to 6.4% during her Budget Speech. She stated, "To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6% and that on platinum to 6.4%." Check out the top 7 performing stocks in the gems and jewellery sector, focusing only on those with a market cap of over Rs 1,000 crore (data taken at 3 pm on July 23, 2024).

IRDAI emphasised that Saluja’s dual role as executive chairperson of Religare Enterprises does not exempt her from regulatory compliance. The issuance of stock options to her breached the IRDA Act of 1999 and related guidelines, the regulator stated.

Despite maintaining steady capital expenditure and fiscal deficit targets, analysts predict that significant tax policy changes, particularly the increased LTCG, STCG, and STT rates, will affect market sentiment. However, the introduction of new income tax benefits under the new tax regime offers some relief to taxpayers, potentially mitigating the negative impact on market sentiment.

The Indian market recouped losses to close flat with a negative bias on the Budget Day. The S&P BSE Sensex fell 0.09% while the Nifty50 closed below 24,500 levels.“Nifty recovered from its intraday low of 24,074.20 but failed to close in the green. The immediate support lies at 24,400, with strong resistance at 24,570,” said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.“To regain bullish momentum, the Nifty must sustain above 24,400. Failure to do so could trigger profit booking, potentially pushing the index down to 24,200,” he added.

The amendments to India's capital gains tax are a positive development, simplifying complex rules and creating a level playing field for listed and unlisted shares, regardless of the seller's residency status. A key change is the uniform 12.5% tax rate on all long-term capital gains, both financial and non-financial. This represents a 2.5% increase for listed shares but a significant reduction from 20% to 12.5% for assets like real estate.

Shares of REIT stocks were up by 2% on NSE today after the Union Budget presented today reduced the holding period for determining long-term capital gains for business trusts from 36 months to 12 months.

Wall Street opened cautiously on Tuesday amid varied corporate results, with investors awaiting Alphabet and Tesla's earnings. They seek clues on whether the market's recent record gains can sustain.

Finance Minister Nirmala Sitharaman announced a host of measures for taxpayers in Budget 2024. Here are all the key announcements you must know. BankBazaar says, "With slight enhancements in the standard deduction, new tax regime slabs, and the hike in the tax-free LTCG, your tax-free income is marginally higher. However, that comes with a higher tax rate on LTCG and STCG, which could significantly impact your earnings from capital gains." To make the new tax regime more attractive, Budget 2024 raised the basic exemption limit to Rs 75,000 from Rs 50,000 in the new tax regime. This allows taxpayers to have a higher disposable income.

The Indian markets saw fluctuating movements today and swung between minor gains and losses. FMCG stocks led the gains after the government announced financial assistance for the sector. Sensex closed at 80,429 (73 pts lower) while the Nifty50 closed at 24479 (down 30 pts). Watch how stock markets reacted to Union Budget 2024 speech.

Defense stocks, both public and private, experienced sharp declines following the budget announcement, with PSU heavyweights like Hindustan Aeronautics Limited, Bharat Dynamics, and Mazagon Dock Shipbuilders plunging 10% intraday. Private sector counterparts Paras Defence and Space Technology, and Krishna Defence and Allied Industries also saw 5% drops.

Real Estate Investment Trusts (REITs) are likely to gain more acceptance among investors who can now look at faster liquidity as the budget proposed to reduce the holding period for long-term capital assets from 36 months to 12.

Despite recent volatility and a prevailing negative short-term trend, the Nifty Index shows signs of a potential bullish reversal. Tuesday's sharp buying and the formation of a positive candle pattern suggest an upward shift. If the index surpasses the 24,650-24,700 level, further gains towards 24,850-24,900 are anticipated in the near future. Immediate support is observed at 24,100, according to Nagaraj Shetti of HDFC Securities.

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.