
Sensex opens over 100 points lower today amid negative global cues. Investors are closely monitoring market trends as Nifty also shows declines. The stock market's performance is influenced by international factors, prompting cautious trading strategies among investors.
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The ITAT has dismissed the Income Tax Department's appeal regarding undisclosed foreign assets linked to Tarun Trikha. This decision reinforces taxpayer rights under the Black Money Act, as the tribunal supported the earlier ruling that deleted the disputed tax addition. The case highlights ongoing scrutiny of foreign asset disclosures and the legal protections available to taxpayers.
PPFAS GIFT has slashed the minimum investment in its Nasdaq-100 and S&P 500 funds from $5,000 to just $500, making US equity more accessible. This 90% reduction significantly lowers the entry barrier for investors, allowing them to invest in global markets through GIFT City. Eligible investors can now enter with approximately βΉ4.3 lakh less, enhancing opportunities for diverse portfolio growth.
Airbound, a Bengaluru startup, raises $37 million in Series A funding to enhance drone delivery networks in India. This investment from Greenoaks will accelerate engineering, manufacturing, and market strategies. With the growing demand for efficient logistics, Airbound aims to revolutionize delivery services across the country.