Are NSE and BSE open on July 7 for Muharram 2025?
ADVERTISEMENT Since Ashura falls on a Sunday, there will be no additional public holiday on Monday, July 7. As a result, all government offices, banks, post offices, schools, and stock markets will remain open on that day. The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will function as usual on July 7, 2025.
Also Read: TCS, HCLTech among 10 stocks that have paid dividends over 40 times since 2011
So far, the market has observed 14 designated holidays this year. The most recent weekday holiday was on May 1 (Maharashtra Day), and the next is scheduled for August 15 (Independence Day).
August 15 (Friday): Independence Day / Parsi New YearAugust 27 (Wednesday): Ganesh Chaturthi
ADVERTISEMENT October 2 (Thursday): Gandhi Jayanti / DussehraOctober 21 (Tuesday): Diwali Laxmi Pujan
ADVERTISEMENT October 22 (Wednesday): BalipratipadaNovember 5 (Wednesday): Guru Nanak Jayanti
ADVERTISEMENT December 25 (Thursday): Christmas
Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% On Friday, benchmark indices closed higher despite volatility and cautious investor sentiment. The BSE Sensex rose 193.42 points to settle at 83,432.89, while the NSE Nifty gained 55.70 points to end at 25,461.
ADVERTISEMENT The session witnessed intraday swings as markets reacted to global uncertainties, including the upcoming U.S. tariff deadline and SEBI's action against U.S.-based Jane Street over alleged derivatives manipulation."The Indian market is witnessing a pause as investors adopt a wait-and-watch strategy ahead of the impending U.S. tariff deadline and amid mixed global cues," said Vinod Nair, Head of Research at Geojit Investments. He added that ongoing FII outflows reflect a risk-off approach, while DII inflows are providing partial support.
Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month. Check revised target price
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Hans India
2 hours ago
- Hans India
Adani Enterprises announces Rs 1,000 crore NCDs offering up to 9.30 pc, issue opens July 9
Adani Enterprises Limited (AEL) on Sunday announced the launch of its second public issuance of secured, rated and listed redeemable, non-convertible debentures (NCD) worth Rs 1,000 crore. The issue opens on July 9 and closes on July 22 (with an option of early closure or extension), offering up to 9.30 per cent per annum. The NCDs have a face value of Rs 1,000 each. Each application will be for a minimum of 10 NCDs and in multiples of 1 NCD thereafter. The minimum application size would be Rs 10,000. The NCDs offer competitive yields compared to similarly rated NCDs and fixed deposits and are proposed to be listed on the BSE and the NSE. The proposed NCDs have been rated "Care AA-; Stable" and "(ICRA) AA- (Stable)", according to the company. AEL's first NCD issuance of Rs 800 crore, launched in September last year, was fully subscribed on the first day. "The second public issuance of NCDs by AEL further deepens our commitment to inclusive capital markets growth and retail participation in long-term infrastructure development. This new issuance follows the strong market response to AEL's debut NCD offering, which witnessed capital appreciation for debt investors after a rating upgrade within six months, reflecting the Group's consistent delivery and financial robustness," said Jugeshinder 'Robbie' Singh, Group CFO, Adani Group. As the incubator of India's most critical energy and transport utility platforms, including Adani Ports & SEZ, Adani Energy Solutions, Adani Power, and Adani Green Energy, AEL is now successfully scaling the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem, he added. "Each of these verticals is poised to play a transformative role in India's journey toward a $5 trillion economy," Singh noted. At least 75 per cent of the proceeds from the issuance will be utilised towards the prepayment or repayment, in full or in part, of the existing indebtedness availed by the company, and the balance (up to a maximum of 25 per cent) for general corporate purposes. The NCDs are available in tenors of 24 months, 36 months, and 60 months with quarterly, annual and cumulative interest payment options across eight series, said the company. The base size issue is Rs 500 crore, with an option to retain over-subscription up to an additional Rs 500 crore (Green Shoe Option), aggregating up to Rs 1,000 crore, according to the flagship company of the Adani Group and India's largest listed business incubators in terms of market capitalisation. AEL is the only corporate (outside of NBFCs) offering a listed debt product for retail investors, thereby creating a rare opportunity for individual and non-institutional investors to participate in India's infrastructure growth story. With the recent rate cuts and the beginning of a softer interest rate cycle, the AEL NCD issue comes at an opportune time for investors seeking stable, fixed-income avenues. Offering competitive yields compared to similarly rated NCDs and fixed deposits, this public issue presents a valuable proposition for investors. CARE Ratings first upgraded the credit rating of AEL on February 19, 2025 and reaffirmed the rating on June 18.


Time of India
2 hours ago
- Time of India
Trump signs law hiking tax on Harvard's endowment income: Elite universities brace for financial hit
Trump signs law hiking tax on Harvard's endowment income: In a major shake-up for higher education funding in the United States, former President Donald Trump has signed into law a sweeping tax and spending bill that sharply increases the federal excise tax on endowment income for wealthy private universities. The law is expected to cost Harvard University over $200 million annually, with immediate effects on its financial operations. The legislation, titled the 'One Big Beautiful Bill' , raises the tax on endowment investment income from 1.4% to 8% for institutions with more than $2 million in endowment assets per domestic, tuition-paying student. With over $2.9 million per student and an endowment exceeding $53 billion, Harvard is firmly in the highest tax bracket. The tax applies only to annual investment income, which for Harvard stood at $2.5 billion in FY2024. This means a potential tax bill of $200 million or more annually — nearly five times its previous tax liability. Elite institutions in top tax slab Harvard is not alone. A handful of elite private universities, including Yale, Stanford, MIT, and Princeton, will also fall under the 8% tax rate. The law applies only to US-based private colleges with at least 3,000 domestic tuition-paying students, at least half of whom must be US residents. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo The bill introduces a tiered system: 8% for endowments above $2 million per student 4% for those between $750,000 and $2 million 1.4% for $500,000 to $750,000 Public institutions and smaller colleges are excluded. Restricted endowment funds limit spending flexibility While Harvard's endowment is vast, nearly 80% of its funds are restricted by donor agreements and legal conditions. That leaves a much smaller portion of flexible, or 'unrestricted,' funds to absorb the tax blow. These unrestricted funds are typically used for financial aid, faculty salaries, research funding, and core operations, all of which could now face cuts. In FY2024, endowment payouts accounted for 37% of Harvard's operating revenue, making them the university's single largest source of funding. Law passes narrowly in Congress The legislation cleared the US House of Representatives by a 218-214 vote, with only two Republicans voting against it. It passed the Senate 51-50, with Vice President JD Vance casting the tie-breaking vote. Trump signed the bill into law during a July 4 Independence Day ceremony at the White House, calling it a long-overdue measure to hold elite universities accountable. The final 940-page bill is part of a broader conservative agenda, including Medicare cuts, military spending increases, and bans on federal funding for Planned Parenthood and gender-affirming healthcare. Major changes to US student loan system In addition to the endowment tax, the legislation brings significant reforms to federal student aid: Grad PLUS loans have been eliminated Parent PLUS loans are now capped at $65,000 per student Federal repayment plans will be consolidated Key protections, including deferment for unemployment, are being removed A new earnings-linked accountability rule will take effect from July 1, 2026, restricting federal aid to graduate programs whose alumni earn less than the median high school graduate. Critics say these changes could reduce access to higher education, especially for low-income families. Harvard ramps up lobbying amid political heat Harvard has opposed endowment taxation since it was first introduced in 2017. In the first quarter of 2025, the university spent $230,000 on federal lobbying, its highest quarterly total since 2008. According to federal records, lobbying efforts focused heavily on endowment taxes, student aid, and research funding. While university officials have not publicly responded to the new tax, they have warned in the past that such measures could undermine core academic priorities. Conservative push to target elite schools The push to tax elite institutions gained momentum among conservative lawmakers who argue that universities like Harvard benefit from massive, untaxed wealth while receiving federal funding and promoting political views out of step with public values. Trump had campaigned on this issue, even proposing to create a new government-funded online 'American Academy' using proceeds from fines and taxes on wealthy universities. An earlier version of the bill proposed a 21% top tax rate and excluded international students from endowment-per-student calculations — a change that would have pushed more institutions into higher brackets. That provision was dropped in the final Senate version following procedural objections. Implications for Indian students and global education Though the tax directly affects US universities, its indirect effects could ripple across the global education landscape. Harvard and other institutions may need to reassess scholarships, international outreach, and long-term academic investments — areas that have historically benefitted Indian students. Changes to the US loan system may also impact affordability for those considering graduate study in the US As the new fiscal year begins, institutions across the country are now recalibrating their finances. For Harvard and its peers, the road ahead could include budget cuts, reallocation of unrestricted funds, and a shift in funding priorities — with ripple effects in education, research, and global collaboration. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!


Time of India
2 hours ago
- Time of India
Smarten Power Systems IPO opens on July 7; price band fixed at ₹100/share
Smarten Power System on Sunday said it has fixed the price at ₹100 per equity share for its ₹50-crore initial public offering ( IPO ) that will open for subscription on July 7. The IPO will conclude on July 9, and the shares will be listed on the NSE's Emerge, Smarten Power System said in a statement. The IPO is a combination of a fresh issue of up to 40.01 lakh equity shares aggregating to ₹40.01 crore and an offer for sale of 10 lakh shares aggregating to ₹10 crore. Proceeds from the fresh issue will be utilised for the purchase of movable assets of the production line of battery manufacturing unit, working capital requirements, repayment of debt, funding capital expenditure requirements and general corporate purposes. Incorporated in 2014, Smarten Power Systems designs and assembles power backup and solar products, including home UPS systems, solar inverters, power conditioning units, and trades solar panels and batteries. "This IPO marks an important milestone in our growth journey, providing us the opportunity to build on our existing foundation and move forward with greater focus and scale. It is aimed at strengthening our production infrastructure and improving operational efficiency. "It will support our efforts to adapt to evolving energy demands through focused product development and wider market access, said Arun Bhardwaj, Managing Director of Smarten Power System, said. The company reported a revenue of ₹203.20 crore and a profit after tax of ₹12.77 crore in FY25. Arihant Capital Markets is the sole book-running lead manager, and Maashitla Securities is the registrar for the IPO.