Latest Business, Finance, and Share Market News as of 5:30 pm on May 6, 2024

In today’s latest business news transcript at 5:30 PM on May 6, 2024, the stock market witnessed some significant movements. Titan Company’s stock took a hit, dropping by over 7% after reporting weaker-than-expected March quarter results. On the other hand, Kotak Mahindra Bank’s stock surged by over 4% as the private sector lender exceeded expectations with its Q4 results.

In a move to further enhance India’s UPI success story, ICICI Bank announced that NRI customers can now use their international mobile numbers to make UPI payments instantly in India. This service is available through the bank’s mobile banking app, iMobile Pay.

India’s services activity growth remained strong, with the HSBC India Services Business Activity Index showing one of the fastest growth rates in nearly 14 years. However, the growth rate slightly toned down in April, attributed to a favourable economic environment and rising demand.

Marico declared a second interim dividend of Rs 6.50 per equity share, adding to the total dividend for the year. The deadline to file income tax returns for the financial year 2023-24 is July 31, with taxpayers seeking clarity on deductions and exemptions.

The benchmark equity indices closed rangebound, with the NSE Nifty 50 and BSE Sensex showing mixed movements. Top gainers in the Nifty 50 included Britannia, Kotak Bank, and TCS, while Titan and Adani Enterprises were among the key laggards. Overall, the market saw a mix of gains and losses, reflecting the dynamic nature of the business landscape.