Industrial production grows to 7-month high of 5.9% in May: Govt data | Business News

India’s industrial production grew to a seven-month high of 5.9 per cent in May 2024, mainly due to good showing by power and mining sectors, according to official data released on Friday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5 per cent in April, 5.4 per cent in March, 5.6 per cent in February and 4.2 per cent in January 2024. The IIP was 4.4 per cent in December and 2.5 per cent in November 2023. The previous high of IIP was…

Sensex Stocks: Chart Check: 4-month range breakout in this Sensex stock may take it to new 52-week high; time to buy?

India Ltd, part of the S&P BSE Sensex index, rose over 1 per cent in the last five sessions and over 11 per cent in one month, leading to a breakout from the 4-month-long consolidation range. The auto stock was moving in a broad range of 1,100 points since February where Rs 8,300 acted as an important resistance, while on the downside, Rs 7,200 acted as strong support. The stock eventually saw a breakout from this range in July 2022, which is a bullish sign, and the momentum could take…

Nasdaq: S&P, Nasdaq high as July hot streak continues

Wall Street benchmarks on Thursday the S&P 500 and . ended with Nasdaq Recording its fourth consecutive high close as traders rallied in US equities after federal Reserve Indicates a more restrained schedule of interest rate hikes. US stock markets in July have stabilized after a brutal selloff in the first half against a backdrop of rising inflation, the Ukraine conflict and a global recession. irrigatedPivot away from the easy money policy. The S&P 500 index has closed higher in each of the first four sessions so far this month,…

Anil Kumar Goyal Portfolio: Anil Kumar Goyal remains on stock in Q1 which is down 67% from 2017 high

seasoned investor Anil Kumar Goyal and his wife Seema Goyal remained in the June quarter even as the stock has been under prolonged pressure. Anil Kumar Goel held 6,500,000 shares or 2.76 per cent stake in the company as of June 30, the same as the March quarter. Seema Goyal, on the other hand, marginally increased her stake to 2,848,367 shares from 2,848,000 shares in the previous quarter. His 1.21 percent ownership in the company remained unchanged sequentially. According to data compiled by Trendline, the couple has owned the India…

Nasdaq: S&P 500, Nasdaq high as investors eye economic path

The S&P 500 ended slightly higher on Tuesday as investors kept their focus on the US economy’s growth trajectory and tech-heavy. Nasdaq high off while doe slipped. US stocks have been under continued selling pressure this year, with the benchmark S&P 500 index recording its sharpest first-half decline since 1970. federal Reserve Gets away from the easy-money policy by raising the cost of borrowing. Investors are waiting for minutes irrigatedThey are set for another 75-basis-point rate hike at the end of the month as they meet in June on Wednesday.…

nifty50: Tech View: Nifty50 is selling high; consolidation may continue

New Delhi: nifty 50 Selling pressure was seen as soon as it touched the 16,000 mark on Tuesday. The index destroyed all intraday gains and eventually showed weakness at higher highs, with a long upper wick, to form a bearish candle on the daily chart. Analysts said the continued strength for the index is likely to continue and some support is likely to be found near 15,650-750 levels. Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said the 16,000 mark is a significant hurdle from a short term perspective. He added…

Adani Group Stock: Chart Check: Why this Adani Group stock may touch new 52-week high in next 6 months

Adani Enterprises, part of Adani Group of CompaniesGained a little over 50 percent over the past year and the chart pattern indicates that the uptrend is likely to continue. The stock hit a 52-week high of Rs 2420 on 27 April 2022, but then the trend turned sideways. The recent price action pushed the stock above the 50-DMA which is a positive sign. Experts suggest that short-term traders can buy the stock now or on downside for a possible target of Rs 2800, which would result in new 52-week highs…

ITC Share Price: Stock Radar: No longer a meme stock? ITC may hit new 52-week high in 1-2 months

ITC, a share of the S&P BSE Sensex index, has risen nearly 35 per cent in the past one year, while the benchmark index has gained over one per cent in the same period. For more than 2 decades, ITC has been in correction from price-wise to time-wise and from there it got the tag of meme stock on social media. But, the past year has been very different amidst strong price action as well as brokerage upgrades. Miscellaneous FMCG Source link

High prices, low revenue? , tax policy center

Inflation is being driven down by sales tax revenue. TPC Report That 26 states collected less sales tax revenue in April than the same period last year, while 16 other states reported slower revenue growth than in 2021. Lucy Dadyan warns Regarding the financial future: “If wages aren’t keeping up with inflation, we’ll see people spending less… People are going to be a lot more aware with their money and a lot more on non-essential, discretionary items.” spend less, which means we will see further weakness in state sales tax…

Credit card growth, record high credit consumption signals a pick-up

Credit Card Additions and Expenses Climb Fastest May In recent quarters, underscoring the fading effect of Covid-induced disruptions on consumption habits, a growing number of urban Indians have taken long holidays and bought high-ticket discretionary items after being nearly padlocked for two consecutive summers. The banking industry added 1.7 million cards in May, the highest in 27 months. Extraordinary Loan It was the highest ever on credit cards, breaking the ₹1.54-lakh-crore mark. “The latest data shows that credit card spend have been very strong, touching an all-time high (up 8%…