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  • AMFI has defined new thresholds for small cap, mid cap and large cap stocks. A company with a market cap of 84300 crores and above will be considered large cap. A company with market cap of Rs 27600-84299 crores would be considered mid cap and less than Rs 27600 crores will be considered as small cap.
  • Canada is seeing huge unemployment rate, which has risen to a multi-year high at around 6.4%. It is a 29-month high. It seems that they are back to Covid level unemployment rate and may be the worse is yet to come.
  • Forex reserves dip by about $1.71 billion to $652 billion this week end.
  • India’s gross GST collection up by about 7.7% to Rs 1.74 trillion in June.
  • Russian oil rebounds to 45.4% of Indian crude imports in June.
  • Patanjali Foods will acquire non-food business from Patanjali Ayurved. Mostly the acquired products will be dental care, skin care, home care and hair care. Patanjali foods will pay around Rs 1100 crores for the acquisition.
  • Coal India production increases by 8% in the first quarter.
  • Indian market regulator said on last Monday that charges levied by market infrastructure institutions such as stock exchanges, clearing corporations and depositories should be uniform and not based on volumes.
  • Insurance firms eye tax reliefs in the upcoming budget to boost penetration. Government’s comprehensive insurance policy for almost 90 crore people in the form of Ayushyaman Bharat has resulted in major part of the market destruction. So, insurance companies cannot grow at the rate envisaged about 10 years back.
  • India’s coal production rises 14% in June.
  • Poverty in India is estimated to have declined to 8.5% in 22-24 from 21.2% in 11-12.
  • Bajaj Auto set to launch world’s first CNG bike ‘Freedom 125’ on Friday. Bike in the 125 cc category. The mileage will be double or fuel cost will be half, whichever way you look at it. The price could be about Rs 10000-12000 more than a normal petrol bike.
  • HDFC Bank saw its loans shrink during the April June quarter while deposits remained almost flat. Gross advances as of June 2024 end stood at 24.87 trillion as compared to 25.08 trillion on March 31, 2024. That is unusual and may impact the profit growth.

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