Stocks

Consumer, Paint Stocks Surge After Government Cuts GST Rate

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Gold Silver Reports (GSR) – Asian Paints, Berger Paints, Relaxo Footwears, Bata India, Havells India and Procter & Gamble shares all climb to record high closing levels after the government cut goods and services tax rate.      

GST panel on Saturday reduced goods and services tax on more than 50 products.        

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Stocks Market To Watch: ACC, HDFC Bank, Hindustan Zinc, UPL, Wipro, Just Dial

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✅ UPL Ltd. to acquire Arysta Lifescience in an all cash deal worth $4.2 billion.  

✅ Wipro guided for IT services revenues to be in range of $2,009 million to $2,049 million in the second quarter. The company will acquire U.S.-based Alight Solutions’ India operations for $117 million.   

✅ Just Dial approved buyback of 27.5 lakh shares, or 24.26 percent equity, at Rs 800 each. The buyback amount to not exceed Rs 220 crore.      

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Stocks Market : Indian Overseas Bank, Poddar Housing, SH Kelkar, DFM Foods

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✅ DFM Foods to consider for stock split on Aug. 6.  

✅ Poddar Housing and Development acquires 5,800 square metres land in Pune, with a saleable area of 1.4 lakh square feet.   

✅ Indian Overseas Bank receives communication for infusion of Rs 2,157 crore by the government.   

✅ SH Kelkar expects revenue growth this quarter to be moderate.

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