Business
Markets Close on a Downward Trend as Auto and IT Stocks Face Pressure
Notably, throughout the Financial Year 2024-25, both the Sensex and Nifty experienced a 5% increase. The mid- and small-cap indices lagged behind, with the BSE Midcap index falling by 0.68% and the Smallcap index seeing a 0.35% decline.
Overall, the market capitalization of BSE-listed companies fell to nearly ₹413 lakh crore, down from approximately ₹415 lakh crore in the previous session.
Notable declines were seen across various sectors, including Nifty Media (down 2.29%), IT (down 1.76%), Realty (down 1.42%), and Auto (down 1.03%). Other indices, except for FMCG and oil & gas, also remained in negative territory.
The Nifty Bank index remained largely unchanged, while Financial Services gained 0.25%. IndusInd Bank shares fell over 4%, ending a two-day upward trend, ahead of an impending report from external auditor PwC on accounting inaccuracies, which is expected later this week.
At the close on Nifty, 31 stocks finished lower, with IndusInd Bank (down 3.64%), Wipro (down 3.56%), and Shriram Finance (down 3.28%) emerging as the biggest losers.
Major laggards on the Sensex included Wipro, IndusInd Bank, Shriram Finance, Cipla, and M&M; conversely, top gainers included Tata Consumer, Kotak Mahindra Bank, Apollo Hospitals, ONGC, and ICICI Bank.
Additionally, the Pharma sector experienced ongoing selling pressure, with the Nifty Pharma index decreasing by 1%, largely due to many firms deriving significant revenue from exports of generic drug formulations to the U.S.
Despite initial losses, Tata Motors managed to rise by 0.70% by the end of the session.
Furthermore, major Asian and European indices faced considerable declines as concerns about President Trump’s aggressive tariffs stoked fears of a deeper global trade conflict.
The market will be closed on Monday, March 31, in observance of Id-Ul-Fitr (Ramzan Id).
Business
Pune FDA Seizes 3,800 Kg of Adulterated Mango Pulp in Major Crackdown
In a major action against food adulteration, the Food and Drug Administration (FDA) in Pune has seized over 3,800 kilograms of mango pulp mixed with unsafe food colours.
The raid was carried out after officials received confidential information about illegal production activities in the district. Acting quickly, an FDA team traced the source to a manufacturing unit in Urse village in Maval taluka.
During the inspection, officers found that the mango pulp was being prepared using unauthorised food colours and other banned substances. These materials are not allowed under food safety rules and can be harmful to consumers.
The unit was reportedly operated by Mohammad Ekramul, also known as Akram Gulam. Authorities said the facility was violating multiple food safety regulations.
Officials immediately seized the adulterated stock and stopped further production at the site. The FDA has also begun investigating the supply chain to identify where the products were being distributed.
READ MORE:98-Year-Old Nani Turns Entrepreneur, Inspires Millions With Gujarati Snacks
Authorities warned that strict action will be taken against those involved in food adulteration. They also urged the public to stay cautious while buying food products, especially during the mango season.
Further investigation into the case is currently underway.
Business
98-Year-Old Nani Turns Entrepreneur, Inspires Millions With Gujarati Snacks
Ahmedabad: In an inspiring story of resilience and passion, 98-year-old Prabhavati Bhagwati from Ahmedabad has become a viral sensation for her small food business. She began selling traditional Gujarati snacks at the age of 91, proving that age is no barrier to pursuing one’s passion.
Prabhavati Bhagwati was born in 1927 and lived a happy life with her husband, Praful Bhagwati. The couple shared 68 years of marriage. However, her life changed in 2017 after her husband passed away. With her children living separately and her grandchildren grown up, she found herself alone at home.
Cooking had always been her way of expressing love. After her husband’s death, her kitchen felt empty and quiet. Instead of giving up, she decided to turn her passion into a purpose. At the age of 91, she started preparing and selling homemade Gujarati snacks.
Her food quickly gained popularity among locals. People admired not only the taste of her dishes but also her dedication and spirit. Today, at 98, she continues her work with the same energy and enthusiasm.
READ MORE :Drunk Driver Rams Car into Procession, 7-Year-Old Girl Killed
Prabhavati’s journey has inspired many across the country. Her story is widely shared on social media, where people praise her determination and positive attitude. She has become a symbol of strength, showing that it is never too late to start something new.
Her life sends a powerful message: passion and purpose can give new meaning to life at any age.
Business
Tomato Prices Crash from Rs.1200 to Rs.80, Farmers in Distress
Business: Tomato prices in Vijayanagara district have dropped sharply, causing heavy losses to farmers and traders. A box of tomatoes that was earlier sold for Rs.1000 to Rs.1200 is now being sold for just Rs.80 to Rs.100.
Due to the sudden fall in prices, farmers are struggling to recover their investment. Many had taken loans to grow the crop and are now facing financial difficulties.
In local markets, traders are selling tomatoes at very low rates. Around 2 to 4 kilograms of tomatoes are being sold for just Rs.20.
The price crash has been linked to multiple reasons. Export of tomatoes to other countries has reduced due to the Iran–Israel conflict. In addition, many hotels are not operating properly due to a shortage of cooking gas cylinders. This has reduced demand for tomatoes.
READ MORE :Man Shoots Two Stray Dogs Over Poultry Killing Allegation
As a result, both farmers and sellers are facing serious losses, and the situation has become very difficult for them.
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