These are the top personal finance news of the day:
We begin today with the bumper debut of drone maker ideaForge Technology. The share got listed on Friday with huge premium of 94 per cent over IPO issue price of 672 rupees. However, the scrip closed lower than listing price at the end of trading session. The scrip closed at 1,295 rupees on the BSE. Still, it was trading at nearly 93% premium to IPO issue price. The Strong listing left investors happy and incentivised. Investors nearly doubled their IPO investmnet in ideaForge.
Olectra Greentech makes new 52WH of Rs 1,251
Shares of Olectra Greentech traded on new 52 week high of 1,251 rupees on Friday. The company informed BSE that it signed contract with Maharashtra government for supply of more than 5,000 electric buses. Olectra Greentech will be investing 10,000 crore rupees on the project. The stock skyrocketed 18% on Friday. It has given one year return of 114%. The stock is up 664% in last 5 years.
Chocolate prices soar up on Chocolate Day eve
On the eve of Chocolate Day, prices of chocolate are set soar up. As, cocoa an imperative ingredient with which chocolate is made, its prices have reached all time high levels. With cocoa prices soaring up, chocolates too are set to become more costlier.
Toyota again hikes vehicle prices
Toyota has further increased prices of few of its models. Toyota Innova Hycross base trim has become costlier by nearly 27,000 rupees. The base trim of the MUV will now cost 18.82 lakh rupees. While, the five seater, Toyota Urban Cruiser Hyryder base trim will now cost 10.86 lakh rupees. Whereas, price of Fortuner will now stat from 32.99 lakh rupees.
HDFC Bank gives high voltage current to customers
HDFC Bank has given high voltage current to customers. Those who had taken loans with the largest private sector bank of the country, they may have to pay higher EMIs. The lender has raised rate of interest on various types of consumer loans like home loans, auto loans and personal loans. The private sector bank has hiked MCLR for shorter tenures by up to 15 basis points. Its one year mclr remains unchanged to 9.05%. The interest rates on various types of loans are tied up with MCLR of banks. With HDFC Bank raising its mclr, various types of consumer loans will become costlier.
HDFC Bank ‘Senior Citizen Care FD’ scheme ends
HDFC Bank ‘Senior Citizen Care FD’ scheme ended on July 7, 2023. Senior citizens were getting 7.75% interest on fixed deposits for 5 years 1 day to 10 yrs. This was special fixed deposit scheme which the private lender had launched for a limited period exclusively for senior citizens. HDFC Bank was paying 0.75% additional interest to the elderly under this scheme. But even after the scheme expired on Friday. Senior citizens would continue to get 7.75% interest on another fixed deposit tenure of 4 years 7 months to 55 months.
Canara, UBI, BOI begin accepting Mahila scheme deposits
Canara Bank, Union Bank of India and Bank Of India start accepting deposits for Mahila Samman Savings Certificate scheme. Women can start investing in this scheme from 1,000 rupees. Maximum limit is 2,00,000 rupees. Government is giving 7.50% interest in this scheme. With public banks accepting deposits in this scheme, it will give lot of convenience for women depositors as earlier they had to approach post offices for opening their account.
Now get Rs 5 lakh loan for buying on Flipkart
E-commerce marketplace, Flipkart, has started a new service where buyers can get loan of up to 5 lakh rupees on goods ordered on its platform. The buyer will get up to 3 years to pay the EMIs of the loan. He will get the loan from Axis Bank for buying the product on Flipkart. According to Flipkart, the buyer can get the loan sanctioned from Axis Bank in just 30 seconds. This service will help Flipkart in increasing its turnover. While, it will become highly convenient for customers to buy products on Flipkart especially when they will be short of money.
Cancer drug, F&B prices in multiplexes set to reduce
Price of Cancer drug Dinutuximab may come down. The government might reduce tax on this medicine. This will give relief to those who are battling the life threatening disease and doctor has prescribed the particular medicine. The GST Council is likely to reduce taxes in July 11 meet. The Council may also give its verdict on GST applied on food or beverages which are served in multiplexes. In some cities, 18% GST was levied on food or beverages in multiplexes. Speculations were rife that 5% GST should be levied. If the Council announces 5% GST, then, it will make food and beverages served in multiplexes slightly cheaper.
