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#723 Daily Money Show | Money Purse Stock Market News
Original: # 723 Daily Money Show | Money Purse Stock Market News
Takeaway
Praveg (Lakshadweep tourism) and Sula Vineyards (Maharashtra wine rebate) are clear positives; Shree Cements faces a Rs 4,000 cr IT tax overhang.
Summary
- Sensex +178 to 72,260 and Nifty +52 to 21,710; market recovered last hour on news that India sovereign bonds being added to international bond indices.
- Bloomberg: Indian govt may tighten fiscal deficit to 5.2-5.4% range for FY25, supported by strong tax revenues and growth - bond rating upgrades possible.
- After PM Modi-s Lakshadweep visit, Praveg Ltd stock +4% on 50-tent resort contract covering scuba diving, destination weddings and corporate functions.
- Ayodhya Ram Mandir Jan 22 opening seen boosting tourism for hotel/F&B and FMCG companies sending products to Ayodhya.
- Negative for Shree Cements: ET reports a Rs 4,000 crore income-tax demand notice over wrongful deductions in waste/water/power infrastructure; Sula Vineyards +11% as Maharashtra revived 16% VAT rebate on grape wine producers.
PravegSula VineyardsShree CementsLakshadweepTax Notice
Original description
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