Business

Revathi Kamath’s Journey of Determination and Resilience New Delhi: The inspiring story of Revathi Kamath, mother of Zerodha co-founders Nikhil and Nitin Kamath, is a testament to perseverance and grit. Today, she leads a successful life, but her early journey was far from easy. Recently, she shared a story from her early days on social media that still brings tears to her eyes—a story not of wealth or status, but of struggle, courage, and life’s unexpected turns. Revathi Kamath began her career as a freelance florist, managing decor for banquet events. She recalls one incident that shook her deeply: after an event, her workers arrived late to remove the previous day’s decorations, and she was asked to pay a fine of ₹300. While this amount may seem small today, at the time, it was si...

Share Market Update: On Monday, the Indian stock market made a strong comeback after a slump on the Budget day. Both the Sensex and Nifty 50 closed with significant gains. The Sensex surged over 900 points, ending at 81,666.46, while the Nifty rose 262.95 points to close at 25,088.40. Market Drivers: The rally followed news of a trade deal between India and the United States. Under the deal, the U.S. reduced the reciprocal tariff on Indian goods from 25% to 18%, raising expectations of further market gains. Sector Performance: Infrastructure and auto stocks led the market gains. Key sector indices closed with the following increases: Nifty Infra: +2.26% Nifty Auto: +2.13% Nifty PSE: +2.04% Nifty Oil & Gas: +2.04% Nifty Metal: +1.88% Nifty Commodities: +1.87% ...

New Delhi: A stock that once turned investors into overnight millionaires is now inflicting heavy losses. Shares of Elcid Investments Ltd, which stunned the market in 2024 with an unprecedented price surge, have since been on a sustained decline, falling more than 25% over the past year. On Monday, the stock closed at ₹1,14,449.95, registering only a marginal recovery. A year ago, it was trading around ₹1,56,028. The stock has declined roughly 27% in 12 months, while slipping 9% over the past month and 17% in six months. From its all-time high of ₹3,32,399.95, the stock has plunged nearly 65%, erasing more than half of investor wealth. From ₹3 to Over ₹2.3 Lakh in a Day Elcid Investments had grabbed headlines in October 2024 after an extraordinary revaluation event. The stock pric...

The Indian stock market rebounded strongly today after suffering a sharp decline following the Union Budget announcement. Investor sentiment had been hit hard in the previous session, and even the Sunday market opening did little to ease the pressure. Sensex and Nifty Rebound The BSE Sensex closed 943.52 points higher, a 1.17% gain, at 81,666.46 points. The NSE Nifty50 index rose by 262.95 points, or 1.06%, to 25,088.40 points. In contrast, on Sunday, the Sensex had plunged 1,546 points, wiping out an estimated ₹10 lakh crore of investors’ wealth. Sectoral Gains Key Sensex stocks saw notable gains today: Reliance Industries surged 3.05% to close at ₹1,387.10. Adani Ports gained 4.61%. Hindustan Copper jumped 6.5%, recovering from a 21% decline over the last two sessio...

The recent plunge in gold and silver prices has left investors concerned. On the Multi Commodity Exchange (MCX) today, silver futures dropped nearly ₹40,000 per kilogram in a single session, while gold fell over ₹10,000 per 10 grams. This sudden volatility raises the question: is this an opportunity for investors, or a signal to exercise caution? Experts weigh in. Sharp Decline Across Markets Over the past few days, precious metals have seen significant losses. Gold has dropped by nearly 19% against the US dollar, while silver has fallen up to 40% from its recent highs. Indian equity markets have also witnessed a decline, with Sensex and Nifty down approximately 5% in 2026 so far. Analysts attribute this downturn to foreign investor sell-offs and rising geopolitical tensions. Turm...

The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on Sunday, left taxpayers with mixed feelings. Many had hoped for an increase in the standard deduction or adjustments in income tax slabs, but the government kept the tax slabs, standard deduction, and other deductions unchanged. While income tax rates remain the same, the new labour codes have been notified, though they are not yet implemented. So, what will your take-home salary be if your CTC is ₹12 lakh? Let’s break it down. CTC Breakdown Basic Pay: ₹2,88,000 Dearness Allowance (DA): ₹72,000 Total Wages: ₹3,60,000 Employer PF Contribution: ₹43,200 Employer NPS Contribution: ₹50,400 Gratuity Component: ₹17,316 Special Allowance: ₹7,29,084 Total CTC: ₹12,00,000 Calculating Take-...

The Indian government is reportedly considering raising the FDI (Foreign Direct Investment) limit in public sector banks. Currently, there are 12 public sector banks in India with combined assets of around ₹171 lakh crore, accounting for approximately 55% of the country’s banking sector. The government aims to retain a 51% stake in these banks, though its current ownership is significantly higher. FDI Proposal in Public BanksAccording to a Reuters report, the government is discussing the possibility of allowing up to 49% foreign direct investment in state-owned banks. Presently, the FDI cap in these banks is 20%. Financial Services Secretary M. Nagaraju stated that ministries are consulting with each other on this proposal. Reports indicate that the Finance Ministry has also been in dis...

Gold and silver prices continued their downward trend for the third consecutive day, with silver dropping nearly ₹40,000 and gold falling over ₹10,000 on the Multi Commodity Exchange (MCX). Silver Prices:Silver for 5 March delivery had closed at ₹2,65,652 per kg in the previous session. Today, it opened at ₹2,67,501 per kg but quickly fell during trading to ₹2,25,805 per kg—a decline of ₹39,847. By 2:00 PM, silver was trading at ₹2,35,000 per kg, down ₹30,652 (11.54%). Over the past three days, silver prices have dropped by more than ₹1.75 lakh. Gold Prices:Gold for 2 April delivery fell by ₹10,688 during trading. It had closed at ₹1,47,753 per 10 grams in the previous session and opened today at ₹1,46,000 per 10 grams. Prices dropped to ₹1,37,065 during the session, and by 2:00 PM, ...

Gold prices surged nearly 106% over the past year, while global demand for the precious metal hit record levels in 2025. During this period, the world purchased $552 billion worth of gold, exceeding the entire economy of Pakistan. China has played a key role in this global gold buying spree. Record Global Gold Demand:Gold demand rose by 40% in 2025, reaching a record 5,002 tonnes, marking the fourth consecutive year of growth. Since 2021, global demand has increased by 292 tonnes. Measured in U.S. dollars, the demand grew by 45%, with purchases surpassing Pakistan’s expected GDP of $410–417 billion for 2025–26. Global ETF holdings increased by 801 tonnes, the second-largest annual rise in history, while demand for gold bars and coins reached 1,374 tonnes, the highest in 12 years. Cen...

With overseas real estate investment gaining popularity, Budget 2026 has introduced measures that could impact Indian investors buying property abroad. Chartered Accountant C. Kamlesh Kumar, Taxation Partner at Ravi Rajan & Co. LLP, Delhi, explains the implications. Rules for Buying Property Abroad:Indian citizens purchasing property overseas must adhere to the RBI’s Liberalised Remittance Scheme (LRS). Under LRS, an individual can remit up to $250,000 per financial year. Families often pool their LRS limits to invest in international real estate. Payments can be made in installments, provided each remittance stays within the annual limit and is routed through proper banking channels. Compliance with the Foreign Exchange Management Act (FEMA), 1999 and maintaining accurate documenta...