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A salaried professional opting for a lower rate of tax under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. Removal of tax exemptions under Section 80C in the new tax regime could be a dampener for life insurance products as well as equity-linked savings schemes (ELSS) of mutual funds. In her Budget speech on February 1, Finance Minister Nirmala Sitharaman said a salaried professional opting for a lower tax rate under the new regime will not be eligible for deductions, including insurance premium paid and ELSS investments. “The removal of 80C benefit may pose a risk to new business volumes of life insurance companies,” said Kotak Institutional Equities in a report. Life insurance Tax exemptions are an important incentive for purchase of life insurance. To be eligible for exemption under Section 80C, the sum assured has to be 10 times the annual premium. This is part of the Rs 1.5 lakh limit under ...

Cyient Surges 9%-  Cyient Jumps The Most In A Year Shares of the engineering services provider surged 9 per cent intraday to Rs 636.65. The company reported its fourth-quarter earnings on Thursday. The Hyderabad-based company’s net profit nearly doubled to Rs 176 crore, while its revenue fell 2.1 per cent to Rs 1,162.9 crore. The gainers in the morning session are Axis Bank, HCL Tech, Bharti Airtel, Sun Pharma, Yes Bank, GAIL, Dr Reddy's Lab, SBI, Tata Steel, Indiabulls Housing, Bharti Infratel and Zee Entertainment, while losers are Maruti Suzuki, Tata Motors, Hero Moto, M&M and Kotak Mahindra Bank. Among the sectors, except auto all other sectors are witnessing buying led by metal, pharma, bank, infra, energy, IT and FMCG. Rupee Opens: The Indian rupee gained in early trade on Friday. It opened higher by 16 paise at 70.09 per dollar versus previous close 70.25. Tata Steel, Axis Bank shares jump- Shares of the steelmaker rose 3.6 per cent, the most in over a ...

Yes Bank shares down 5%- It was the biggest loser among the Sensex stocks. Ashok Chawla, Yes Bank’s non-executive chairman, has stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval. Rupee weakens against US dollar-  The rupee was trading at 71.35 a dollar, down 0.18% from its previous close of 71.23. The currency opened at 71.30 a dollar, touching a high 71.30 and a low 71.40. Market Opens: It is a flat start for the benchmark indices on Monday with Nifty holding above 10,700 marks. The Sensex is up 38.58 points at 35847.53, while Nifty is up 6.60 points at 10731. About 460 shares have advanced, 395 shares declined, and 52 shares are unchanged.  Stock To Watch - L&T, Rel Infra, Reliance Capital,...

Market opens-  Equity benchmarks have begun marginally lower, with the Nifty trading just below 10,900. The Sensex is down 47.42 points or 0.13% at 36347.61, and the Nifty down 13.70 points or 0.13% at 10875.10. The market breadth was narrow as 179 shares advanced, against a decline of 137 shares, while 43 shares were unchanged. Majority of sectoral indices are trading in the near the flat line, but the pain is visible among automobiles, IT and metals. The Midcap index is trading flat.  Today's Pick - Coal India, Tata Motors, Indiabulls Housing and IOC were the top gainers, while NTPC, Axis Bank, GAIL and Eicher Motors lost the most.  Govt to sell 3% Axis Bank stake via OFS; all you need to know The government on Tuesday will come out with an offer for sale (OFS) for its Axis Bank stake held through the Specified Undertaking of Unit Trust of India (SUUTI).  The SUUTI plans to sell up to 5 crore shares of face value Rs 2 each of the private lender....