Income tax officials in Thrissur seized Rs 1 crore from the bank account of the CPM committee. The cash was withdrawn from an undisclosed account, raising questions about the involvement of CPM district secretary MM Varghese. IT officials froze the account and are investigating the source of the money.
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Mutual fund managers are increasingly being choosy while picking stocks in the mid-cap and small-cap space amid concerns over rich valuations. In January, they selectively bought pharmaceuticals, while shuffling their holdings in the banking and financial services industry (BFSI) space after shares of private lenders fell on worries about their profitability.
Indian equities ended on a positive note in Wednesday’s session led by strong support from the banking and pharma space. Benchmark Sensex rose for a ninth straight session while Nifty closed above the record 20,000 mark for the first time as positive macroeconomic data triggered buying in banking, energy and telecom shares. Here are the stock recommendations for Thursday: Axis Bank, Britannia, Bank of India, Atul Auto, NIIT, PNB, and Aarti Drugs.
