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IndiaTV Business: Google News Feed: Digest for September 28, 2023

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The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 158 points to 65,788.18. The Nifty declined 38.35 points to 19,626.35.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
Indian equity indices, the Sensex and Nifty, rebounded on Wednesday, ending a six-day losing streak, driven by strong macroeconomic indicators. The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 percent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 percent to close at 66,118.69.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
Indian equity indices, the Sensex and Nifty, rebounded on Wednesday, ending a six-day losing streak, driven by strong macroeconomic indicators. The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 percent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 percent to close at 66,118.69.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
Indian equity indices, the Sensex and Nifty, rebounded on Wednesday, ending a six-day losing streak, driven by strong macroeconomic indicators. The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 percent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 percent to close at 66,118.69.
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
Indian equity indices, the Sensex and Nifty, rebounded on Wednesday, ending a six-day losing streak, driven by strong macroeconomic indicators. The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 percent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 percent to close at 66,118.69.

Rajasthan targets Rs 30 lakh crore economy size by 2030: Ashok Gehlot

Wednesday 27 September 2023 05:46 PM UTC+00
Rajasthan Chief Minister Ashok Gehlot on Wednesday said the state's gross domestic product (GDP) is targeted at Rs 30 lakh crore by 2030 and the journey of development of the state will not stop now. Gehlot was addressing an interaction program with jewelers, gem sellers and artisans under Mission-2030 at Birla Auditorium in Jaipur on Wednesday.

Realty space emerging as new investment avenue amid shifts in demand

Wednesday 27 September 2023 06:40 PM UTC+00
The real estate sector in India is witnessing a profound transformation. A series of investment trends are reshaping the sector including sustainability initiatives to technology integration. These trends are redefining how investors view and approach the market. Additionally, shifts in demographics and consumer preferences are influencing the types of properties in demand. 
Amid weak Asian markets and continuous foreign fund outflows, the equity benchmark indices fell in early trade on Tuesday. The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.
The Income Tax department has notified an "Angel Tax" rule for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of Compulsorily Convertible Preference Shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which comes into effect from September 25.
The Indian stock market witnessed a mixed closing today, with key indices ending in a narrow range. At the closing bell, the Sensex was down by 78.22 points or 0.12 percent, settling at 65,945.47. Similarly, the Nifty ended the day lower by 9.80 points or 0.05 percent, closing at 19,664.70.
Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form.

Byju's to cut around 5,000 jobs in business restructuring exercise

Wednesday 27 September 2023 02:15 AM UTC+00
Byju's news:Edtech major and Indian education firm Byju's is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday (September 26).
Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
Indian equity indices, the Sensex and Nifty, rebounded on Wednesday, ending a six-day losing streak, driven by strong macroeconomic indicators. The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 percent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 percent to close at 66,118.69.

Rajasthan targets Rs 30 lakh crore economy size by 2030: Ashok Gehlot

Wednesday 27 September 2023 05:46 PM UTC+00
Rajasthan Chief Minister Ashok Gehlot on Wednesday said the state's gross domestic product (GDP) is targeted at Rs 30 lakh crore by 2030 and the journey of development of the state will not stop now. Gehlot was addressing an interaction program with jewelers, gem sellers and artisans under Mission-2030 at Birla Auditorium in Jaipur on Wednesday.

Realty space emerging as new investment avenue amid shifts in demand

Wednesday 27 September 2023 06:40 PM UTC+00
The real estate sector in India is witnessing a profound transformation. A series of investment trends are reshaping the sector including sustainability initiatives to technology integration. These trends are redefining how investors view and approach the market. Additionally, shifts in demographics and consumer preferences are influencing the types of properties in demand. 
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