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The S&P 500 and Nasdaq reached record closing highs, propelled by Delta Air Lines' optimistic forecast and Nvidia's milestone valuation. Investors seemingly shrugged off President Trump's latest tariffs, focusing instead on positive economic signals like lower-than-expected jobless claims. While some sectors lagged, overall market sentiment remained positive, buoyed by anticipation of future rate cuts and the start of earnings season.
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News and Media
Following SEBI's allegations of market manipulation against Jane Street, the Income Tax department is considering a probe into potential violations. The investigation will focus on General Anti-Avoidance Rules (GAAR) and permanent establishment norms, examining the firm's structure involving Indian and offshore entities. Authorities suspect profits booked in Singapore may be reattributed to India, leading to significant tax implications.
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News and Media
Tata Consultancy Services missed analyst expectations for the June quarter. This was due to the BSNL deal ending. Net profit grew, helped by a one-time gain. Project ramp-ups faced delays. New deal wins increased to $9.4 billion. Headcount rose, but attrition also increased. Revenue fell slightly. Net profit increased due to one-time income.
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News and Media
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