Ongoing buyback offers take Budget knock | Dull Diwali ahead for D-Street | Ultra-rich tax to hit 2,000 foreign funds

To keep you updated, we send ET Markets Newsletter to your mailbox. In case, you wish to Unsubscribe Click Here MORNING NEWSLETTER Mon, Jul 08, 2019 Associate Sponsor Good Morning! Share buyback, a popular tax-avoiding tool among Indian companies till now, may soon become a thing of the past on Dalal Street. A new tax proposed in the Union Budget is expected to dry up share repurchases, as companies are expected to shift to the easier-to-implement dividend payout option instead. Read more on this and about a fringe benefit from the higher public float proposed in the Budget. #Budget2019#SmallcapHunters#IPOs#ExpertViews#StockRecos

SENSEX 39493.04 -20.35 NIFTY 50 11770.05 -41.10 Gold 34564.0 347 USD/INR 68.40 -0.10 OPENING BELL Stocks in the news: PNB, Maruti Suzuki, Mindtree, Axis Bank and Lemon Tree Insurance watchdog has asked Axis Bank to rework its Max Life Insurance proposal. Buyback tax: Infosys, others may have to pay 20% levy themselves Previously, only share repurchases by unlisted companies were subject to such a tax. Markets unlikely to see fireworks this Diwali: ET poll Foreign funds to feel the pinch of increased tax on mega rich What changed for D-Street while you were sleeping Here are the top buy, sell, hold ideas for the day Brokerages give a thumbs up, says PSU banks likely to gain the most EQUITY EVENTS Coming soon... ET Markets - Radio ETMarkets Morning Podcast: No fireworks for D-St till Diwali; Tax on ultra-rich hits 2,000 foreign funds and other stories Jul 08, 2019, 08.40 AM IST | Here are the top stories you must track today 05:27 EQUITIES PRICE SHOCKERS Stock Name LTP 3 Days % Change Mkt. Cap (Cr.) Indiabulls... 727.35 13.22% 30099.08 Bank of Ba... 130.45 8.26% 49776.65 Are you missing the Trend? Find it out Now VOLUME SHOCKERS Stock Name LTP Volume % Change Avg. Vol. New Indian... 149.55 964.95 72356 Mahindra &... 397.30 374.02 926400 Is this momentum going to continue? Check out NEAR 52 WEEK HIGH Stock Name LTP 52 Week High High % Gap Nestle Ind... 11956.90 12023.25 0.55% Concor 575.70 582.75 1.22% Will these stocks hit new hights? Track Now NEAR 52 WEEK LOW Stock Name LTP 52 Week Low Low % Gap Hero MotoC... 2512.30 2475.00 1.48% Cadila Hea... 228.70 223.15 2.43% Will these stocks breach beyond its low levels? Track Now VIDEOS Watch: Swaminathan Aiyar in an exclusive conversation with FM Nirmala ... Buy or Sell: Stock ideas by experts for July 8, 2019 FM's maiden budget a broad-based one: Ashishkumar Chauhan BENCHMARKS INDICES TOP INDEX FOR THE DAY Nifty FMCG 29973.25 0.28% 4753 BOTTOM INDEX FOR THE DAY S&P BSE Metal 10601.47 -3.85% 100 IMPACT SECTORS Sector Name Market Cap Rs Cr. Market Cap % Change Beverages - Alcoholic 85077.51 0.64% 08252542 Tobacco 352210.69 0.57% 20204020 Higher free float could pump up India's weight in MSCI indices, boost inflows India's current weight on the MSCI EM index stands at 8.4 per cent. Kotak adds Lupin to model portfolio, cuts weight on ICICI, NTPC Road map in place, govt should now focus on execution Trade setup positive in private & PSU banks, NBFC and FMCG Oil extends gains, supported by surprise US jobs report COMMODITIES PRECIOUS METAL Commodity Price/Unit % Change Volume preciousMetalDesc Silver Expiry: 05-03-2020 41429.0 4.00% 1 preciousMetalDesc Gold Petal Expiry: 30-09-2019 3460.0 1.21% 282 VIEW MORE BASE METAL Commodity Price/Unit % Change Volume baseMetalDesc Nickel Expiry: 31-07-2019 888.8 0.65% 36071 baseMetalDesc Nickel Expiry: 30-08-2019 895.3 0.53% 456 VIEW MORE OIL & ENERGY Commodity Price/Unit % Change Volume oilEnergyDesc Natural Gas Expiry: 26-07-2019 168.3 7.37% 69201 oilEnergyDesc Natural Gas Expiry: 27-08-2019 167.2 7.28% 6372 VIEW MORE OTHERS Commodity Price/Unit % Change Volume outhersDesc Mentha Oil Expiry: 31-07-2019 1243.4 0.32% 934 outhersDesc Mentha Oil Expiry: 30-08-2019 1255.9 0.31% 101 VIEW MORE RECOMMENDATIONS FOR THE DAY Havells India Ltd. Sell Havells India, target Rs 745: Manas Jaiswal Sell Maruti Suzuki India Ltd. Sell Maruti Suzuki India, target Rs 6,150: Manas Jaiswal Sell Colgate-Palmolive (India) Ltd. Buy Colgate-Palmolive (India), target Rs 1,208: Kunal Bothra Buy QUICK LINKS Equity Movers | 52 WK Low | Only Buyers | Only Sellers | Upcoming IPOs Follow Us: Download ET Markets App: About us|Advertise with us|Feedback|Sitemap|Code of Ethics More Newsletters: Daily Newsletter | Markets Watch | ET Investment Opportunities | Wealth | View all © 2019 Times Internet Limited. To ensure delivery directly to your inbox, please add etnotifications@indiatimes.com to your address book today. If you are having trouble viewing this newsletter, please click here, To unsubscribe or edit your subscriptions please click here