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#865 Daily Money Show | Money Purse Stock Market News
Original: #865 Daily Money Show | Money Purse Stock Market News
Takeaway
Banks helped Nifty close higher; Infosys faces Rs.32,403cr GST notice; Amara Raja partners with Ather for EV battery cells; Hero FinCorp files IPO DRHP.
Summary
- Sensex +126 to 81,867; Nifty +59 to 25,010; markets opened positive on Fed signals of September rate cut.
- Real estate LTCG: government may restore indexation benefit after budget cut tax to 12.5% without indexation drew criticism.
- Infosys received pre-show-cause notice for Rs.32,403cr GST on overseas branch expenses (July 2007-March 2022); Infosys disputes applicability per regulations.
- Amara Raja Energy signed strategic agreement with Ather Energy to manufacture NMC and Li-ion cells for two-wheeler battery packs at Telangana gigafactory.
- Hero MotoCorp started commercial operations in Philippines via Terrafirma partnership; Hero FinCorp filed DRHP for Rs.3,668cr IPO (Rs.2,100cr fresh + Rs.1,568cr OFS).
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Original description
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