Monday, June 09
Maruti Suzuki India announced a record-breaking achievement, transporting 5.18 lakh vehicles via Indian Railways in FY 2024-25. Since FY 2014-15, cumulative railway dispatches have reached 24 lakh vehicles, servicing over 600 cities through 20-plus railway hubs. By FY 2030-31, the company aims to increase vehicle dispatches via railways to 35 percent, reducing carbon emissions and conserving fuel.
Adani Group announced a significant 29% surge in its tax contributions, reaching nearly Rs 75,000 crore in FY2024-25. This substantial contribution, encompassing direct and indirect taxes along with employee social security, underscores the group's commitment to nation-building. Key contributors among the listed companies include Adani Enterprises, Adani Cement, Adani Ports, and Adani Green Energy.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly on Thursday. While Nifty50 was above 24,800, BSE Sensex was up over 800 points.
Asian stock markets surged, led by South Korea's Kospi after Lee Jae-myung's presidential win, despite economic challenges and Trump's tariffs. US markets also rose, driven by tech stocks, while the OECD cut the US growth outlook. Investors are hopeful about potential trade deals, but uncertainty persists due to tariffs and paused forecasts.
ITR Filing FY 2024-25: The Income Tax Department has enabled online ITR filing for FY 2024-25 (AY 2025-26) via incometax.gov.in, initially supporting ITR-1 and ITR-4 forms. These forms are for individuals with income up to Rs 50 lakh from specific sources.
India's services sector performed well in May. The HSBC India Services PMI Business Activity Index increased. This indicates growth in activity, hiring, and international demand. Companies hired more staff at a record pace. Export orders surged, especially from Asia, Europe, and North America. Businesses are optimistic about future activity. The HSBC India Composite PMI Output Index was 59.3 in May.
ITR Filing FY 2024-25: The Income Tax Department has enabled online ITR filing for FY 2024-25 (AY 2025-26) via incometax.gov.in, initially supporting ITR-1 and ITR-4 forms. These forms are for individuals with income up to Rs 50 lakh from specific sources.
The Reserve Bank of India's MPC met to review interest rates, with economists divided on the extent of cuts. Some advocated for a bolder 50 bps reduction to boost economic momentum, while others favored a cautious 25 bps cut, citing moderated inflation and external uncertainties. The decision, expected on June 6, will influence borrowing costs and investment sentiment.
