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Introduction Are you familiar with the term “PPF”? Public Provident Fund or PPF is an immensely popular investment option in India and for a good reason. PPF is considered one of the safest investment products and is backed by the government of India (GOI). Moreover, the government sets the interest rate every quarter, making it a reliable choice for many. One of the key advantages of PPF is that your investment is tax-exempt under section 80C o…

India

equitypandit.com

Public Provident Fund (PPF): Benefits, Tax Savings, and How to Invest in PPF Accounts - Equitypandit

On Thursday, Sensex closed at a record high, and the Nifty 50 saw gains, boosted by rising banking and consumer stocks, following the US central bank’s first monetary policy easing in four years. The US Federal Reserve cut interest rates by 50 basis points on Wednesday to counteract a slowdown in the labour market. Sensex gained 236.57 points, closing at 83,184.80, and the Nifty rose by 38.25 points to finish at 25,415.80. Both surpassing key le…

Central Bank

Stock Markets

India Economy

Sensex, Nifty Post Gains After Profit Booking from Record Levels - Equitypandit

Shares of Jindal Steel and Power Ltd. ended the day 1% down after reaching a day’s high of Rs 1,043.70 on 19th September, following the company’s announcement of a Rs 1,500 crore capital expenditure to significantly increase its production capacity. This investment is expected to boost the company’s capacity by 60%. This will be adding 0.6 million metric tons (MT) to its existing 1 million MT per annum. The expansion will target coated flat prod…

Howrah, India

Howrah

Jindal India Announces Rs 1,500 Crore Capex to Boost Steel Capacity, Shares Close 1% Down - Equitypandit

The Finance Ministry’s Revenue Department is expediting a comprehensive review of the Income Tax Act of 1961 to simplify and condense it by removing up to 120 sections, sub-sections, and clauses.  The focus is on rationalising exemptions and deductions, aligning computing methods with international standards, and expediting the tax appeals process.  In 2017, the NDA government formed an expert team to evaluate the Income Tax Act and develop a co…

Finance

Government of India working on New Income Tax Act  - Equitypandit

CHENNAI: Samsung Electronics' Indian unit has sued members of a labour union that has led a strike for 11 days at its only India home appliances plant in the southern state of Tamil Nadu, escalating tensions with its workers, legal papers show. Samsung's lawsuit dated Sep 12, which Reuters is first to repo

United States

Chennai

Channel News Asia

WTVB

Samsung sues Indian union over strike that disrupted output

Enterprise software company e6data has secured a USD 10 million Series A funding round led by Accel and with participation from Beenext. e6data aims to enter the data and AI solutions market, which is projected to reach USD 230 billion in 2025. According to Vishnu Vasanth, Co-founder and CEO of e6data, the rapid growth has positioned data intelligence platforms as the second largest IT spending category, trailing only cloud spending for operatio…

e6data Secured USD 10 Million in Series A Funding led by Accel - Equitypandit

India’s gross direct tax collections for 2024 showed significant growth, with a 21.48% increase as of September 17, 2024. The surge in Securities Transaction Tax (STT) has been a major contributor, nearly doubling to Rs 26,154 crore from Rs 13,352 crore in 2023, indicating heightened investor activity in equity markets. This increase in STT reflects the growing income and subsequent rise in tax collections. Data from the Finance Ministry and Inc…

Gross Direct Tax Collections Surged by 21% to Rs 12.01 Lakh Crores, April-Mid Sept Data - Equitypandit

Shares of Wockhardt Ltd. rallied 5% to hit an upper circuit at Rs 1,005.70 on 19th September, after the company announced that its investigational drug, Zaynich, has successfully treated critically ill patients with drug-resistant meningitis. One case involved a 64-year-old patient suffering from Type 2 diabetes and hypertension who received Zidebactam/Cefepime for three weeks as part of a compassionate use program. Wockhardt noted that the pati…

Mumbai

Wockhardt Shares Hit Upper Circuit as Investigational Drug Cures Meningitis, Up 5% - Equitypandit

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