Indian Stock Market Is Full Of Twists And Turns. If You Fail to stay updated you might lose out on some important news and make an uninformed decision.
Stock Market This Week:
Stay tuned for insights on hot topics and latest trends in the stock market:
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Hero Motocorp Shares Continue Declining
Hero Motocorp Shares continue declining after the raid on chairperson Pawan Munjal’s residence. ED conducted the charge because of allegations of money laundering by the business head.
Hero Motocorp’s Shares Plunge 3%, Raided ₹25 Crore assets.
Hero Motocorp has been under investigation by the Income Tax Department on speculation of tax evasion since March 2022.
On August 1, 2023, Tuesday ED, The Enforcement Directorate, raided 12 locations in Delhi and Gurugram involving Hero Motocorp and also raided the residence of the company’s chairperson.
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GST on Online Gaming In India
One of the Key Takeaways from the 51st GST Council Meeting Held On August 2 at 4:00 PM was the Decision to Implement 28% GST On Online Gaming in India effective October 1.
Government Imposes 28% GST on Online Gaming In India.
Before the 50th Council Meeting, the GST on online Gaming in India was divided between Games of Chance And Game Of Skill.
Game Of Skills Were Taxed At 18%
Game Of Chance At 24%
But Now They’ll be Judged Under the Same Umbrella And Taxed At 24%.
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JIOBook 16K Laptop By Ambani
Reliance Retail plays another masterstroke and launches an affordable, multitasking laptop in India.
Exciting News: Reliance Retail Unveils Powerful 16K Laptop.
JIOBook launched on July 31, 2023, in India. JioBook Marks is the second laptop manufactured by the company.
JioBook Laptop has a user-friendly and familiar interface; it offers multiple customization options and is the first affordable and multitasking laptop.
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Ban On Laptop Import
On 1st August, Reliance Launched its affordable Laptop JIOBook, and on August 3, 2023, Indian Government Issued a Nationwide Laptop Import Ban also Ban on Personal Computers and Tablets.
Laptop Import Banned: Empowering JIOBook Launch.
The Main Reason Stated by the Government for issuing the laptop import ban is to boost the domestic growth of electronic Manufacturing In India And Push PM Modi’s Made In India Initiative.
Another Reason is to reduce dependency on foreign countries, mainly China.
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Dixon Technologies Shares Show Growth Following Ban On Import Of Laptops
As Government Banned Laptop Imports, Dixon Technologies Shares Jump 17%.
Dixon Technologies Shares Jump Extra 17% In 2 Days.
Dixon Technologies share rose 8.42% to a high of Rs 4,812.70 on BSE. Meanwhile, the stock has risen 72% in the last six months.
Dixon Technologies’ share rose 8.4% in Friday trading to hit a new 52-week high of Rs 4,813.
The stock is up 16.68% during the last two days.