Yesterday's big news was related to GST. The government is considering cutting the Goods and Services Tax (GST) on bicycles, 20 liter drinking water bottles and children's exercise notebooks. At the same time, there is a plan to increase the tax on wrist watches and shoes by 10%.
Following SEBI's order, NSE has increased the lot size of all its five index derivative contracts. The lot size of Nifty 50 has been increased from 25 to 75, which is an increase of 3 times. The lot size of Nifty Bank has been increased from 15 to 30.
Before tomorrow's big news, today's major events to keep an eye on…
- The stock market will remain closed today due to Sunday holiday.
- There has been no change in the prices of petrol and diesel.
Now read tomorrow's big news…
1. 20 liter water bottles and bicycles will be cheaper: Group of Ministers recommended reducing GST by 13%, shoes and watches may become costlier by 10%.
The government is considering cutting the Goods and Services Tax (GST) on bicycles, 20 liter drinking water bottles and children's exercise notebooks. At the same time, there is a plan to increase the tax on wrist watches and shoes by 10%. On Saturday (October 19), a meeting of the Group of Ministers (GoM) formed to simplify the GST structure was held, in which this was discussed.
After the meeting, suggestions were presented to change the tax on these five products. After the meeting, Chairman of the Group of Ministers, Bihar Deputy Chief Minister Samrat Chaudhary said that with this proposal of the group, the government is expected to increase the annual revenue from GST by Rs 22 thousand crore.
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2. NSE increased the lot size of all five index derivatives contracts: Lot size of Nifty 50 increased from 25 to 75, this order will be effective from November 20.
Following the order of market regulator SEBI, the National Stock Exchange (NSE) has increased the lot size of all its five index derivative contracts. The lot size of Nifty 50 has been increased from 25 to 75, which is an increase of 3 times. The lot size of Nifty Bank has been increased from 15 to 30.
NSE has increased the lot size of Nifty Financial Services, also known as Fin Nifty, from 25 to 65. At the same time, the lot size of Nifty Midcap Select has been increased from 50 to 120. Whereas, the lot size of Nifty Next 50 has been increased from 10 to 25.
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3. HDFC Bank's second quarter profit increased by 5%: Income increased by 9% to ₹ 85,499 crore, the bank's shares gave 10% return in six months.
The standalone net profit of HDFC, the country's largest private bank, increased by 5% year-on-year to ₹ 16,821 crore in the July-September quarter. It was ₹15,976 crore in the same quarter last year.
However, the bank's net profit has increased by 4% on quarterly basis. The bank's profit in the last quarter (Q1FY25) was Rs 16,174 crore. HDFC has released the results of Q2FY25 i.e. the second quarter of the financial year 2024-25 on Saturday (October 19).
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4. Tech Mahindra's profit increased by 153%: Revenue increased by 3.5% to ₹ 13,313 in the July-September quarter, the company will give a dividend of ₹ 15 per share.
Tech Mahindra's consolidated profit in the second quarter of FY 2024-25 has increased by 153% year-on-year (YoY) to ₹1,250 crore. The company had made a profit of ₹494 crore in the same quarter a year ago (Q2FY24).
Today (October 19) the company has released the results for the second quarter (July-September) of the financial year 2024-25. On Friday, Tech Mahindra shares closed at Rs 1,685, down 0.82%. The stock has gained 43.77% in the last one year. The market cap of the company is Rs 1.65 lakh crore.
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5. Godavari Biorefineries' IPO will open on October 23: Investors will be able to bid till October 25, minimum investment ₹ 14,784.
The Initial Public Offer i.e. IPO of Godavari Biorefineries Limited will open on 23 October. Investors will be able to bid for this issue till October 25. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 30.
The company wants to raise Rs 554.75 crore through this issue. For this, the company is issuing 9,232,955 fresh shares worth ₹325 crore. Whereas, the existing investors of the company are selling 6,526,983 shares worth ₹229.75 crore through Offer for Sale i.e. OFS.
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6. MG Astor price hiked by up to ₹27,000: Compact SUV with 49+ safety features including Level-2 EDAS and personal AI assistance, competes with Creta
MG Motors has increased the price of its compact SUV Astor by up to Rs 27,000. MG had launched the facelift of Astor in the Indian market this year. The car has more than 49 safety features along with 14 Level-2 ADS features. Apart from this, the SUV comes with Personal AI Assistance like before.
Its Savvy Pro 1.3 Turbo AT (Sangria Red) variant, CVT (Ivory) and 1.5 CVT (Sangria Red) models have become costlier by Rs 27,000. On the other hand, the Sharp Pro 1.5-litre CVT (Ivory) has been increased by Rs 26,000. The company has increased the price of Select 1.5 CVT (Ivory) of the SUV by Rs 21,000 and the price of Sharp Pro 1.5-litre MT (Ivory) variant by Rs 24,000.
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Now read the news you need…
Large-and-mid cap fund gave 29% return in 1 year: Investing through SIP is beneficial in the long run, know the best performing mutual funds
If you are planning to invest in mutual funds on the special occasion of Diwali, then large and mid cap can be a good option. According to the official website of Association of Mutual Funds in India (AMFI), Large and Mid Cap has given returns of up to 29.22% in the last one year.
This return is till 18 October 2024. You can make good returns in this fund by investing through Systematic Investment Plan (SIP) for a long time. Now let us first know about Large and Mid Cap Mutual Funds.
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There was a rise in gold and silver this week: Gold increased by Rs 1,787 to reach Rs 77,410, silver was being sold at Rs 92,283 per kg.
This week there has been a rise in the prices of gold and silver. According to the Website of India Bullion and Jewelers Association (IBJA), on last Saturday i.e. on October 12, gold was at Rs 75,623, which has now reached Rs 77,410 per 10 grams (October 19). That means its price has increased by Rs 1,787 this week.
Whereas, if we talk about silver, it was at Rs 89,963 last Saturday, which has now reached Rs 92,283 per kg. This week its price has increased by Rs 2,320. This year, silver had reached its all-time high of Rs 94,280 per share on May 29.
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Also see who were the top 10 richest people in the world yesterday…
Yesterday the market was closed due to Saturday holiday, so know the condition of stock market and gold and silver on Friday…
Know the latest price of petrol, diesel and gas cylinder…
Graphics Source: VaskarAssets
