Author: Kanhaiya

NeoPolitan Pizza and Foods IPO: The initial public offering of NeoPolitan Pizza and Foods Ltd, which was opened on September 30, will be closed on Friday, October 4. The price of the Rs 12-crore SME IPO has been fixed at Rs 20 per share for the public issue. Till 11:11 am on the third day of bidding on Thursday, the SME IPO received a 5.58 times subscription garnering bids for 3,18,12,000 shares as against the 57,00,001 shares on offer.

The category for non-institutional investors received 0.96 times subscription, while the portion for retail individual investors (RIIs) got subscribed 10.21 times.

The IPO will be closed on October 4.

NeoPolitan Pizza and Foods IPO: Key Dates

The IPO is available for public subscription between September 30 and October 4. The share allotment of the NeoPolitan Pizza and Foods IPO will likely be finalised on October 7, while its shares will be listed on the BSE SME on October 9.

NeoPolitan Pizza and Foods IPO: Price Band

The price of the Rs 12-crore SME IPO has been fixed at Rs 20 per share for the public issue.

NeoPolitan Pizza and Foods IPO: GMP Today

According to market observers, unlisted shares of NeoPolitan Pizza and Foods Ltd are trading at the same price as its issue price of Rs 20, thus zero GMP. The zero GMP indicates no listing gains from the IPO.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

NeoPolitan Pizza and Foods IPO: More Details

The NeoPolitan Pizza and Foods IPO is entirely a fresh issue of 60 lakh shares.

NeoPolitan Pizza and Foods IPO bidding opened for subscription on September 30, 2024 and will close on October 4, 2024. The allotment for the NeoPolitan Pizza and Foods IPO is expected to be finalized on Monday, October 7, 2024. NeoPolitan Pizza and Foods IPO will list on BSE SME with tentative listing date fixed as Wednesday, October 9, 2024.

NeoPolitan Pizza and Foods IPO price is ₹20 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (12,000 shares) amounting to ₹240,000.

Turnaround Corporate Advisors Private Limited is the book running lead manager of the NeoPolitan Pizza and Foods IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for NeoPolitan Pizza and Foods IPO is Mnm Stock Broking.

Gold Rate Today In India: On October 03, gold prices in India were around Rs 77,000 per 10 grams. The price of 24-carat gold, known for its highest purity, stood at Rs 77,460 per 10 grams. For jewellery buyers, 22-carat gold, which is more durable due to its alloy composition, was priced at Rs 71,010 per 10 grams.

Silver, on the other hand, was trading at Rs 94,900 per kilogram.

Gold Rate Today In India: Retail Gold Price On October 03

Check gold prices today in different cities on October 03, 2024; (In Rs 10/gram)

Retail Cost of Gold in India

What Is The Retail Price Of Gold Per Gram?

Gold price per gram is the cost of one gram of gold. It’s typically expressed in a specific currency (e.g., Indian Rupees). The price can fluctuate daily due to various factors, including economic conditions, geopolitical events, and supply and demand.

The retail price of gold in India, which represents the final cost per unit weight for consumers, is shaped by multiple factors beyond its intrinsic value.

Gold is deeply embedded in Indian culture, acting as a key investment and holding significant importance in traditional weddings and festivals.

As market conditions shift, investors and traders closely watch these trends. Stay tuned for more updates on this developing story.

Small Savings Schemes Interest Rates: Government savings plans give people a safe and reliable way to save money, helping them and their families stay financially secure in the future. These plans usually offer better interest rates than regular savings accounts. By investing in various small savings schemes, you can earn interest on deposits and grow your money over time.

The finance ministry on September 30 reviewed the interest rates on small savings schemes, including public provident fund (PPF), National Savings Certificates (NSC) and Kisan Vikas Patra (KVP).

Small Savings Scheme Interest Rate October 2024

Here’s a list of ten government-backed schemes which can be availed from banks/post offices across the country.

1. National Savings (Monthly Income Account) Scheme

• Minimum Rs 1000 in the multiples thereof. Maximum Rs 9 lakhs in a single account and Rs 15 lakhs in a joint account.
• The account matures in 5 years.
• A depositor may operate more than one account under this scheme subject to the ceiling of the maximum amount, which may be invested in a single, or joint account.
• The account can be closed prematurely after one year but before the expiry of three years on deduction of 2% of the deposit. In case the account is closed after the expiry of three years, 1% of the deposit shall be deducted.
• National saving account interest rate: (October 01 to December 31, 2024)- 7.4%

2. National Savings Time Deposit Account

• Four categories of Time Deposit Accounts are available – 1 year, 2 years, 3 years and 5 years
• Minimum deposit of Rs 1000 and thereafter in the multiples of Rs 100.
• No maximum deposit limit.
• An account can be closed after six months. Where deposits in the account are withdrawn prematurely after six months but before one year, simple interest at the POSA rate shall be payable.
• Deposits in 5-year Time Deposit qualify for deduction u/s 80-C of Income Tax Act.
• Interest: (October 01 to December 31, 2024)- 6.90 (1 year) 7 (2 years) 7.10 (3 years) and 7.5% (5 years).

3. Senior Citizens Savings Scheme

• Minimum deposit of Rs 1000 in the multiples thereof with a maximum deposit of Rs 30 lakhs.
• An individual who has attained the age of 60 years or above on the date of opening of an account or an individual who has attained the age of 55 years or more but less than 60 years and has retired under Superannuation, VRS, or Special VRS, can open an account.
• Retired personnel of Defence Services (excluding Civilian Defence Employees) may open an account upon attaining the age of fifty years subject to the fulfilment of other specified conditions.
• A depositor may open an account individually or jointly with a spouse.
• Interest shall be payable from the date of deposit to 31st March/ 30th June/30th September/31st December on 1st working day of April/July/October/January as the case may be, in the first instance and thereafter, interest shall be payable on 1st working day of April/July/October/January.
• The account can be closed after the expiry of 5 years from the date of opening of the account.
• The depositor may extend the account for a further period of 3 years.
• Premature closure is permissible subject to certain conditions.
• Deposits in SCSS qualify for deduction u/s 80-C of the Income Tax Act.
• Senior Citizens Savings Scheme Interest rate: (October 01 to December 31, 2024)- 8.20%

4. National Saving certificate (VIII issue)

• Minimum deposit Rs 1000/- and thereafter in multiple of Rs 100.
• Account matures in 5 years
• No maximum deposit limit.
• A single-holder type account may be opened by an adult for himself or on behalf of a minor.
• A single-holder type account may also be opened by a minor on attaining the age of 10 years.
• Joint ‘A’ Type accounts may be opened by up to three adults payable to both the holders jointly or to the survivor.
• Joint ‘B’ Type accounts may be opened by up to three adults payable to either of the survivors.
• Loan facility available by pledging with the banks.
• Interest: (October 01 to December 31, 2024)- 7.7%.

5. Public Provident Fund Scheme

• The minimum deposit is Rs 500 and the maximum deposit is Rs 1,50,000 in a financial year.
• Loan facility is available from 3rd financial year upto 6th financial year.
• Withdrawal is permissible every year from the 7th financial year.
• Account matures on completion of fifteen complete financial years from the end of the year in which the account was opened.
• After maturity, the account can be extended for any number for a block of 5 years with further deposits.
• Account can be retained indefinitely without further deposit after maturity with the prevailing rate of interest.
• The amount in the PPF account is not subject to attachment under any order or decree of a court of law.
• Deposit qualifies for deduction under Sec.80-C of I.T.Act.
• Interest earned in the account is free from Income Tax under Section -10 of I.T.Act.
• PPF interest rate 2024-25: 7.1%

6. Sukanya Samriddhi Account

• Minimum deposit Rs 250 and maximum deposit Rs 1.5 lakhs in a financial year.
• The account can be opened in the name of a girl child till she attains the age of 10 years.
• Only one account can be opened in the name of a girl child.
• Accounts can be opened in post offices and authorised banks.
• Withdrawal shall be allowed for higher education of the account holder to meet education expenses.
• The account can be prematurely closed in case of marriage of a girl child after she attains the age of 18 years.
• The account can be transferred anywhere in India from one Post office/Bank to another.
• The account shall mature on completion of a period of 21 years from the date of opening of the account.
• Deposit qualifies for deduction under Sec.80-C of I.T.Act.
• Interest earned in the account is free from Income Tax under Section -10 of I.T.Act.
• Sukanya Samriddhi Account Interest rate October 01 to December 31, 2024: 8.20%

7. Mahila Samman Saving Certificate

Mahila Samman Saving Certificate scheme is a one-time new small savings scheme of the government of India announced in the Budget 2023.

This offers a deposit facility upto Rs.2 lakh in the name of women or girls for a tenure of 2 years at a fixed interest rate of 7.5% with a partial withdrawal option.

8. Kisan Vikas Patra

• Minimum Rs 1000 and thereafter in multiples of Rs 100.
• No maximum deposit limit.
• A single-holder type account may be opened by an adult for himself or on behalf of a minor.
• A single-holder type account may also be opened by a minor upon attaining the age of 10 years.
• Joint ‘A’ Type accounts may be opened by up to three adults payable to both the holders jointly or to the survivor.
• Joint ‘B’ Type accounts may be opened by up to three adults payable to either of the survivors.
• Accounts can be opened in post offices and authorised banks.
• Kisan Vikas Patra can be transferred from one person to another and from one post office to another.
• Kisan Vikas Patra can be encashed after 2 and half years from the date of investment at the following rates.
• Money doubles on maturity.
• Interest rate: 7.5 % (115 months maturity)

9. Recurring Deposit Account Scheme

• In this scheme, a minimum of Rs 100 per month can be deposited with no maximum limit fixed.
• Advance deposits can be made at the option of the depositor for 6 months or 12 months and earn a rebate.
• The scheme account matures in 5 years. Withdrawal to the extent of 50% of the amount of the existing balance is permissible after one year of the opening of the account.
• The account can be closed prematurely after 3 years with simple interest at the rate of a Post Office Savings Account (POSA).
• Currently, the rate of interest is 6.7% on 5 years of RD

10. Post Office Saving Account

• In this scheme, a minimum deposit of Rs 500 is required and there is no maximum deposit limit.
• A person can open the account in his name individually or jointly with an adult person. The account can be opened on behalf of a minor.
• Also, a minor who has attained the age of 10 years may open the account independently.
• Interest in the account up to Rs 10,000 qualifies for deduction from Income in a financial year under the Income Tax Act.
• The scheme is offering an interest rate of 4%

The interest rates for the current quarter October-December 2024 are as follows:

• Savings Deposit: 4%
• 1-Year Post Office Time Deposits: 6.9%
• 2-Year Post Office Time Deposits: 7.0%
• 3-Year Post Office Time Deposits: 7.1%
• 5-Year Post Office Time Deposits: 7.5%
• 5-Year Recurring Deposits: 6.7%
• National Saving Certificates (NSC): 7.7%
• Kisan Vikas Patra: 7.5% (will mature in 115 months)
• Public Provident Fund: 7.1%
• Sukanya Samriddhi Account: 8.2%
• Senior Citizens Savings Scheme: 8.2%
• Monthly Income Account: 7.4%

Disclaimer: The views and investment tips by experts in this digihunt.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Diffusion Engineers IPO Allotment Date: After the end of three days of bidding for the initial public offering (IPO) of Diffusion Engineers Limited, applicants are eagerly waiting for the Diffusion Engineers IPO allotment date, which is most likely on Tuesday, October 1, 2024, i.e. today.

In the wake of the ‘T+3’ listing rule, the public issues must be listed on the Indian exchanges within three working days post-closure of the bidding date. Bidding for the Diffusion Engineers IPO ended on Monday, and the Diffusion Engineers IPO listing date is most likely on Friday, as Wednesday will be a stock market holiday for Mahatma Gandhi Jayanti.

The 158-crore IPO received 114.5 times subscription in the price range of Rs 159-168 per share. The strong investor interest came despite a sharp correction in the secondary market on September 30.

Non-institutional investors subscribed 207.60 times their reserved portion of Diffusion Engineers IPO, while qualified institutional buyers and retail investors subscribed 95.74 times and 85.61 times, respectively.

Diffusion Engineers IPO GMP Today

According to stock market observers, shares of Diffusion Engineers Limited are available at a premium of Rs 59 in the grey market today. This means Diffusion Engineers IPO GMP (Grey Market Premium) today is Rs 59. Market observers said that the grey market reflects a premium of around 35 per cent against the upper price band of Diffusion Engineers IPO, which is praiseworthy as the secondary market fell heavily on Monday.

Investors who participated in the IPO can check their allotment status on the official website of the registrar, Bigshare Services.

Diffusion Engineers IPO allotment status: Direct link to check on Bigshare Services

Step 1: Open the direct link to the registrar. (Click on this URL – .

Step 2: Select Diffusion Engineers from the dropdown menu.

Step 3: Enter PAN, Application number, or DP client ID.

Step 4: Click Submit.

Step 5: The allotment status will be displayed on the screen.

Diffusion Engineers IPO allotment status check on BSE

Step 1: Visit the BSE website.

Step 2: Click on ‘Investors’ under the main menu.

Step 3: Navigate to ‘Investor Services’ and select ‘Status of Issue Application’.

Step 4: Choose ‘Equity’ as the issue type.

Step 5: Fill in the details, including PAN and issue name, to view the status.

Shares of Diffusion Engineers are expected to be credited to the demat accounts of eligible investors by October 3, with trading set to begin on the BSE and NSE on October 4.

Tata Advanced Systems Limited (TASL) is set to establish a defence manufacturing facility overseas in Casablanca, Morocco. The plant will initially focus on producing Wheeled Armoured Platforms (WhAP) for the Royal Moroccan Armed Forces, with plans to expand its reach across the wider African market in the future.

This initiative represents the first significant greenfield defence plant set up by an Indian company abroad.

Tata Advanced Systems Limited (TASL) is a fully owned part of Tata Sons and serves as the aerospace and defence division of the Tata Group. TASL functions as both an operating company and a holding company.

Wheeled Armoured Platforms

The WhAP was developed in partnership with the Defence Research and Development Organisation (DRDO) and was rigorously tested in diverse African desert environments before being chosen by Morocco.

The WhAP is an amphibious infantry combat vehicle built to move across different types of land. It has already been used in small numbers by the Indian Army, including at the Ladakh border.

A new factory is expected to produce 100 combat vehicles each year. It should be ready within a year, with the first vehicles expected to roll out in 18 months.

The US Embassy in India has made 250,000 new visa appointments available for Indian tourists, skilled workers, and students. This move is part of a goal set by Prime Minister Narendra Modi and President Joe Biden to speed up the visa process.

These new appointments will help Indian applicants get visa interviews more quickly.

The US Embassy announced that these additional slots will enable hundreds of thousands of Indian applicants to secure timely visa interviews, easing travel. For the second consecutive year, the US mission in India has processed over 1 million non-immigrant visa applications.

US Ambassador to India Eric Garcetti said, “I’m proud that we’ve kept our promise. Our embassy and consulate teams are working hard to meet the growing demand.”

Students, Workers and Tourists

During this year’s student visa season, the US Mission processed a record number of applications and made sure every first-time student got an appointment at one of its five consular offices in India.

The statement said, “We processed record numbers this summer, and all first-time student applicants got appointments. Now, we’re focusing on reuniting families, helping businesses, and supporting tourism.”

In 2024, over 1.2 million Indians have already traveled to the US, a 35% increase compared to the same period in 2023. Around six million Indians have a non-immigrant visa, and thousands more are issued daily.

There is a common misconception that one can never incur a loss if they invest in real estate. People think that a value of a property is bound to appreciate if it is held on for a long duration. However, we often fail to understand the big picture. While we may tend to think that we have profited, we remain blind to the fact that we have actually incurred a loss.

Most investors calculate their profit and loss based on the price at which they bought the property. If they sell the property at a price less than the price at which they bought it, they think that they have incurred a loss. Alternatively, if they sell it for more, then they consider it to be profit. They do take the two elephants in the room into consideration, which are Opportunity Cost and the Value of Money over Time.

For instance, let us consider that one has bought a flat for Rs 2 crore. After four years, its value increases to Rs 2.7 crore. However, they choose not to sell it but instead hold on to that property till its vaule becomes Rs 3 crore.

However, in this process of waiting for the desired selling price, four more years go by. Then after a total of eight years, they are able to sell the flat for Rs 3.1 crore.

They might think that they have made a profit of Rs 1.1 crore from the flat after the transaction. However, they miss the point that they had to wait for four years for the price of the flat to appreciate by only Rs 30 lakh.

If they had sold it four years earlier for Rs 2.70 crore and deposited that money in a Fixed Deposit account in a bank, they might have received better returns.

If one had kept this amount in a Fixed Deposit account at ICICI Bank which gives 7 percent interest, they would have received Rs 3,56,38,092 (Rs 3 crore 56 lakhs). The interest received in four years would have been around Rs 86 lakh. As per this calculation, the seller has suffered a loss of Rs 46 lakhs on the property.

The example of FD has been stated because it is one of the safest options of savings. If the same money was invested in anything else offering medium to high returns, the profit could have been much higher.

Investors often overlook the fact that the value of Rupee decreases over time. Owing to inflation, the purchasing power of money decreases. Hence, the person has suffered a loss even after receiving an additional Rs 40 lakh in four years.

The loss incurred on selling real estate may not be the actual one but may exceed beyond that. For instance, if one buys an apartment from a builder in Delhi-NCR for Rs 1 crore and sells it at Rs 90 lakh six years later, they might be mistaken to estimate that they have incurred a loss of only Rs 10 lakh. However, if we take inflation into account, the loss incurred would be even more in actual.

One should diversify and maintain a balance while investing. Our portfolio should be distributed into a range of categories like real estate, equity, debt and gold. If one invests in only one asset, the risk factor increases. Every asset has the possibility of appreciating as well as depreciating. One needs to understand these concepts to make better investment decisions.

The Union Budget 2024 introduced significant revisions to capital gains tax rates, affecting both short-term and long-term capital gains from equity and equity-oriented mutual funds. This overhaul of the capital gains tax framework is expected to influence investment decisions and financial planning, promoting a more balanced and equitable approach to taxation.

Capital Gains on Mutual Funds

Two key changes were announced regarding capital gains tax rates that will impact mutual fund investors’ returns. The long-term capital gains tax (LTCG) has been increased from 10% to 12.5%, while the short-term capital gains tax (STCG) has risen from 15% to 20%.

However, mutual fund investors holding their investments for over a year will benefit from a raised exemption limit, now increased from Rs 1 lakh to Rs 1.25 lakh.

STCG applies to mutual fund investments held for less than one year, while LTCG applies to those held for more than one year.

New Rules;

Taxation:

For equity mutual funds, gains are classified as short-term capital gains (STCG) if held for 12 months or less. If held for more than 12 months, they are considered long-term capital gains (LTCG).

STCG: 20% (for holdings of 1 year or less)

LTCG: 12.5% (on gains exceeding Rs 1.25 lakh for holdings over 1 year)

For debt mutual funds, taxation follows the investor’s applicable tax slab, regardless of the holding period.

Gains from other mutual funds are considered short-term if held for less than 24 months and long-term if held for more than 24 months.

Short-Term Capital Gains Tax On Mutual Fund

• Previously taxed at 15%.
• Now taxed at a flat 20% irrespective of the income tax slab.

Long-Term Capital Gains Tax On Mutual Funds

• Previously taxed at 10% with indexation benefits for gains exceeding Rs 1 lakh.
• Now taxed at a flat 12.5% without indexation benefits, with an exemption limit of Rs 1.25 lakh.

Impact on Rs 5 Lakh Mutual Fund Earnings

Scenario 1: Short-Term Capital Gains

If the entire Rs 5 lakh is considered as short-term capital gains, the tax liability will be:

Before Budget 2024: 15% of Rs 5 lakh = Rs 75,000

After Budget 2024: 20% of Rs 5 lakh = Rs 1,00,000

Increase in tax liability: Rs 25,000

Scenario 2: Long-Term Capital Gains

Assuming the entire Rs 5 lakh is considered as long-term capital gains:

Before Budget 2024: Taxable income = Rs 5 lakh – Rs 1 lakh (exemption) = Rs 4 lakh.

Tax = 10% of Rs 4 lakh = Rs 40,000

After Budget 2024: Taxable income = Rs 5 lakh – Rs 1.25 lakh (exemption) = Rs 3.75 lakh.

Tax = 12.5% of Rs 3.75 lakh = Rs 46,875

Increase in tax liability: Rs 6,875

Key Points to Remember

• The new tax regime is more straightforward but generally results in higher tax outgo.
• The holding period for equity-oriented mutual funds to qualify as long-term is still 12 months.
• Indexation benefits are no longer available for long-term capital gains.
• The exemption limit for long-term capital gains has been reduced.

It is essential to evaluate your specific financial situation and consider consulting with a tax professional to understand the implications of these changes on your overall tax liability.

Disclaimer: The views and investment tips by experts in this digihunt.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.