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IndiaTV Business: Google News Feed: Digest for March 22, 2024

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Amid discussions surrounding the stock market, you may have come across a term these days - stress test. The recent steep decline in mid- and small-cap shares has been attributed to this stress test. So, what exactly is this stress test? Let's delve into it. Looking back at history, there were certain events in the stock market when it witnessed significant crashes, such as the Lehman Brothers crisis in 2008 or the downturn following the pandemic in 2020. In such situations, investors rush to withdraw their money from the market to minimise their losses. In the case of mutual funds, when investors opt for redemption, the fund must have sufficient liquidity. A stress test is a method to check how quickly these funds can liquidate their portfolios in extraordinary circumstances.
Infosys co-founder Narayana Murthy gifted shares worth Rs 240 crore to his four-month-old grandson Ekagrah Rohan Murty. In an exchange filing, it was revealed that Ekagrah acquired 1.5 lakh shares or 0.04 per cent stake in the company. The gift was handed in an off-the-market transaction on Friday.
Stock markets: The equity benchmark indices continue to be in negative due to weak global cues and rising crude oil prices. In the early trade, the 30-share BSE Sensex declined 314.56 points to 72,782.72. Meanwhile, the NSE Nifty dropped 101.65 points to 22,045.
Income tax-saving: March holds significant importance for tax planning, allowing taxpayers to leverage government-provided tax exemptions by investing in specified avenues. With the end of the financial year approaching, now is the opportune time to commence tax planning. Making well-informed decisions regarding tax-saving investments before the March 31 deadline is imperative. However, exercising caution during tax planning is essential to avoid missing out on the benefits of tax exemptions. When implementing last-minute tax-saving strategies, it's crucial to avoid common mistakes to prevent penalties or missed savings opportunities. 
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Infosys co-founder Narayana Murthy gifted shares worth Rs 240 crore to his four-month-old grandson Ekagrah Rohan Murty. In an exchange filing, it was revealed that Ekagrah acquired 1.5 lakh shares or 0.04 per cent stake in the company. The gift was handed in an off-the-market transaction on Friday.
Stock markets: The equity benchmark indices continue to be in negative due to weak global cues and rising crude oil prices. In the early trade, the 30-share BSE Sensex declined 314.56 points to 72,782.72. Meanwhile, the NSE Nifty dropped 101.65 points to 22,045.
Income tax-saving: March holds significant importance for tax planning, allowing taxpayers to leverage government-provided tax exemptions by investing in specified avenues. With the end of the financial year approaching, now is the opportune time to commence tax planning. Making well-informed decisions regarding tax-saving investments before the March 31 deadline is imperative. However, exercising caution during tax planning is essential to avoid missing out on the benefits of tax exemptions. When implementing last-minute tax-saving strategies, it's crucial to avoid common mistakes to prevent penalties or missed savings opportunities. 
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: The equity benchmark indices continue to be in negative due to weak global cues and rising crude oil prices. In the early trade, the 30-share BSE Sensex declined 314.56 points to 72,782.72. Meanwhile, the NSE Nifty dropped 101.65 points to 22,045.
Income tax-saving: March holds significant importance for tax planning, allowing taxpayers to leverage government-provided tax exemptions by investing in specified avenues. With the end of the financial year approaching, now is the opportune time to commence tax planning. Making well-informed decisions regarding tax-saving investments before the March 31 deadline is imperative. However, exercising caution during tax planning is essential to avoid missing out on the benefits of tax exemptions. When implementing last-minute tax-saving strategies, it's crucial to avoid common mistakes to prevent penalties or missed savings opportunities. 
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: Equity benchmark indices gained significantly in early trade on Thursday amid positive global market trends. The 30-share BSE Sensex surged 595.02 points to 72,696.71. Meanwhile, the NSE Nifty climbed 181.85 points to 22,020.95. 
Income tax-saving: March holds significant importance for tax planning, allowing taxpayers to leverage government-provided tax exemptions by investing in specified avenues. With the end of the financial year approaching, now is the opportune time to commence tax planning. Making well-informed decisions regarding tax-saving investments before the March 31 deadline is imperative. However, exercising caution during tax planning is essential to avoid missing out on the benefits of tax exemptions. When implementing last-minute tax-saving strategies, it's crucial to avoid common mistakes to prevent penalties or missed savings opportunities. 
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: Equity benchmark indices gained significantly in early trade on Thursday amid positive global market trends. The 30-share BSE Sensex surged 595.02 points to 72,696.71. Meanwhile, the NSE Nifty climbed 181.85 points to 22,020.95. 
Washington: The US Federal Reserve stayed on track for three interest rate cuts this year as chairman Jerome Powell on Wednesday affirmed that solid economic growth will continue despite signs that inflation remained elevated at the start of 2024. The Federal Reserve also left interest rates unchanged and released new quarterly economic projections that showed officials expecting the economy 2.1 per cent this year.
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: Equity benchmark indices gained significantly in early trade on Thursday amid positive global market trends. The 30-share BSE Sensex surged 595.02 points to 72,696.71. Meanwhile, the NSE Nifty climbed 181.85 points to 22,020.95. 
Washington: The US Federal Reserve stayed on track for three interest rate cuts this year as chairman Jerome Powell on Wednesday affirmed that solid economic growth will continue despite signs that inflation remained elevated at the start of 2024. The Federal Reserve also left interest rates unchanged and released new quarterly economic projections that showed officials expecting the economy 2.1 per cent this year.
The Indian stock market witnessed a robust performance on Thursday as both the Sensex and Nifty soared following the US Federal Reserve's decision to maintain interest rates. The S&P BSE Sensex surged by 540 points to settle at 72,641, while the NSE Nifty50 closed above the 22,000-mark at 22,012, marking a gain of 173 points.
E-commerce company Flipkart reported a massive slump in its valuation as it dropped by Rs 41,000 crore, or $5 billion, in two years as of January 2024, as per equity transactions carried out by its US-based parent firm Walmart. The firm's valuation dropped from $40 billion in the fiscal year ending January 31, 2022, to $35 billion as of January 31, 2024.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: Equity benchmark indices gained significantly in early trade on Thursday amid positive global market trends. The 30-share BSE Sensex surged 595.02 points to 72,696.71. Meanwhile, the NSE Nifty climbed 181.85 points to 22,020.95. 
Washington: The US Federal Reserve stayed on track for three interest rate cuts this year as chairman Jerome Powell on Wednesday affirmed that solid economic growth will continue despite signs that inflation remained elevated at the start of 2024. The Federal Reserve also left interest rates unchanged and released new quarterly economic projections that showed officials expecting the economy 2.1 per cent this year.
The Indian stock market witnessed a robust performance on Thursday as both the Sensex and Nifty soared following the US Federal Reserve's decision to maintain interest rates. The S&P BSE Sensex surged by 540 points to settle at 72,641, while the NSE Nifty50 closed above the 22,000-mark at 22,012, marking a gain of 173 points.
Business news: The net direct tax collection grew 19.88 per cent to over Rs 18.90 lakh crore till March 17 on higher advance tax mop-up. The Central Board of Direct Taxes (CBDT) said net direct tax collection of Rs 18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at Rs 9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at Rs 9,72,224 crore (net of refund).
Stock markets: The benchmark equity indices on Wednesday opened on a positive note amid positive global cues. The 30-share BSE Sensex rebounded 237.36 points to 72,249.41 in early trade. Meanwhile, the Nifty climbed 74.25 points to 21,891.70. 
EPF account: The Employees' Provident Fund Organisation (EPFO) has revised the standard operating procedure (SOP) for obtaining joint declarations (JD) in order to rectify errors in employers' and members' Universal Account Number (UAN) profiles. Additionally, the EPFO has outlined the process that field offices must follow when making adjustments.

Sensex rises ahead of Fed decision; Nifty holds above 21,800

Wednesday 20 March 2024 10:17 AM UTC+00
After experiencing volatility, the BSE Sensex bounced back by 89.64 points, settling at 72,101.69, fueled by buying interest in major index players like Reliance Industries, ITC, and SBI. The Nifty also registered a slight gain, climbing 21.65 points to close at 21,839.10.
The mining sector has the potential for a multiplier effect on economic growth. As the government focuses on self-reliance, multibagger stock Gujarat Toolroom which recently won a significant order from the country's most valuable listed company Reliance Industries has touched a topline of more than Rs 200 crore. Earlier in November and October last year, Gujarat Toolroom which is into in industrial activities including the development and operation of mines and minerals, had announced to foray into the Dubai market with a focus on precious diamonds, stones, gold bars and the jewellery industry.
Mumbai: The Reserve Bank of India (RBI) has asked all agency banks handling government transactions to ensure that their branches remain open on March 31, 2024. This decision comes as the last day of the current financial year (2023-24) falls on a Sunday.
Stock markets: Equity benchmark indices gained significantly in early trade on Thursday amid positive global market trends. The 30-share BSE Sensex surged 595.02 points to 72,696.71. Meanwhile, the NSE Nifty climbed 181.85 points to 22,020.95. 
Washington: The US Federal Reserve stayed on track for three interest rate cuts this year as chairman Jerome Powell on Wednesday affirmed that solid economic growth will continue despite signs that inflation remained elevated at the start of 2024. The Federal Reserve also left interest rates unchanged and released new quarterly economic projections that showed officials expecting the economy 2.1 per cent this year.
The Indian stock market witnessed a robust performance on Thursday as both the Sensex and Nifty soared following the US Federal Reserve's decision to maintain interest rates. The S&P BSE Sensex surged by 540 points to settle at 72,641, while the NSE Nifty50 closed above the 22,000-mark at 22,012, marking a gain of 173 points.
The Employees' Provident Fund (EPF) stands as a crucial retirement savings scheme facilitated by the Central government, catering to both salaried employees and private sector workers. With monthly contributions of 12 per cent from employees and a matching sum from employers, the EPF serves as a vital avenue for long-term savings.
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