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Mumbai's sensex dropped nearly 1,400 points on Tuesday, closing at 76,025 due to concerns over Trump's tariffs. HDFC Bank, ICICI Bank, RIL, and Infosys significantly contributed to the decline. Foreign funds were heavy sellers, while domestic investors bought shares. The day's downturn erased Rs 3.
In March, GST collections increased by 9.9% to Rs 1,96,141 crore, with a significant rise in import-related revenue. Despite a resilient economy and strong consumer spending, the slower growth in domestic collections may lead to increased government monitoring and scrutiny to address potential tax leakages.
FM Nirmala Sitharaman emphasized the importance of maintaining fiscal responsibility in public finance, highlighting the need to balance borrowing with sustainable growth. She warned against excessive debt, citing long-term implications, and praised the collaborative efforts in the GST Council to generate revenue responsibly.
Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green in trade on Wednesday. While BSE Sensex moved up over 200 points, Nifty50 went above 23,300.
In March, Indian refiners increased US crude oil imports by 66% amidst US President Trump's push for American energy exports. Incidentally, Russian oil imports to India also rose due to suppliers circumventing US sanctions.
2025/04/07 04:23:10
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