Market Today

1. Investors get richer by Rs 2.83 lakh crore as RBI booster shot lifts market

"The Indian markets ended Friday's session on a firm note led by some strong measures by the RBI to ensure adequate liquidity and financial stability. The announcement from the RBI is a big positive for the Indian markets as well as the economy. Importantly, it has triggered a surge in the banking space which was underperforming for quite a sometime now and sustained recovery in the auto pack further added to the buoyancy," said Ajit Mishra, VP - Research, Religare Broking Ltd.

2. Gold prices slump as traders book profit

Bullion counters slipped on Friday as traders preferred to book profits at high levels even as coronavirus cases in India continued to rise and an extension in lockdown raised recession fears.

3. No GST exemption on masks, ventilators, PPEs expected

The government is unlikely to exempt GST on medical items like ventilators, PPEs, masks, test kits and sanitisers, as it would lead to blocked input tax credit (ITC), thereby increasing the cost of manufacturing and increase the price for consumers.

4. New rules cover foreign indirect investment

The new rule announced on Saturday via Press Note 3 of 2021 has made prior government clearance mandatory for any investment coming from countries that share a land border with India even if it’s in sectors that are on the automatic route.

“If a company that has invested here sees any Chinese investment overseas in an entity that has indirectly invested in India, (it) will need to take approval,” said a government official.

5. Infosys to announce Q4 results today

Experts predict 1% hit in the income due to the disruption of corona virus lock down. The EBIDTA margin is expected to be steady, but the impression of decrease billings is to be offset by rupee depreciation.