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Except FMCG, all other sectoral indices ended in the green, with the Nifty metal index rising 5 percent and PSU bank 2.6 percent.

Sensex

The benchmark indices ended a percent higher on the first day of the new financial year, supported by metal and financials. At close, the Sensex was up 520.68 points, or 1.05 percent, at 50,029.83 and the Nifty was up 176.70 points, or 1.20 percent, at 14,867.40. Except FMCG, all other sectoral indices ended in the green, with the Nifty metal index rising 5 percent and PSU bank 2.6 percent.

Sunteck Realty | CMP: Rs 280.85 | The stock ended in the green after the company said it had secured a seven-acre land parcel in Mumbai's Borivali. The Mumbai-based property developer will develop a luxury residential project in Borivali. (West). JLL India would be the exclusive transaction partner for the joint venture, said Sunteck in its BSE filing, adding it expected to generate a project topline of around Rs 1,750 crore over the next four-five years.

Steel Strips Wheels | CMP: Rs 720 | The share gained over 3 percent after the company achieved the highest-ever wheel rim sales. ".... achieved highest ever wheel rim sales of 16.73 lakh in March 2021 versus 7.88 lakh in March 2020, representing a growth of 112.44% YoY," the company said in a release. "The company has achieved gross turnover of Rs 307.38 crore in March 2021 versus Rs 102.28 crore in March 2020, thereby recording a growth of 200.52% YoY. It achieved a net turnover of Rs 253.29 crore in March 2021 versus Rs 84.73 crore in March 2020, recording a growth of 798.92%," it added. The export segment volume rose 221 percent YoY.

Reliance Infra | CMP: Rs 38.35 | The share price jumped over 9 percent after the company sold Reliance Centre in Mumbai to Yes Bank for a consideration of Rs 1,200 crore. "Reliance Infrastructure and YES Bank announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank," the company said in a press release to the exchanges. Entire proceeds from the sale are to be utilised for repaying the debt of Yes Bank, Reliance Infrastructure said.

Hindustan Aeronautics | CMP: Rs 1,040 | The scrip added over 4 percent after the company reported an all-time high revenue of over Rs 22,700 crore for the year ended on March 31, 2021. "The corresponding figure for the previous year stood at Rs 21,438 crore. It posted a revenue growth of around 6 percent in FY 2020-21, thanks to the improved productivity after suspending the operations for one month in the beginning of the year, the company said.

JSW Steel | CMP: Rs 505.50 | The stock jumped over 7 percent after the company announced the commencement of production at its Dolvi Works facility. " .... has commenced production of Hot Rolled Plates from the new 5 MTPA Hot Strip Mill facility at its Dolvi Works," the company said in the release. In another statement, the company said it completed the acquisition of the manufacturing business of high-grade steel plates and coils of Welspun for Rs 848.5 crore.

Maruti Suzuki | CMP: Rs 6,922 | The stock ended in the green after the auto major posted total sales of 1,67,014 units in March 2021, consisting of domestic sales (passenger vehicle and light commercial vehicle) of 1,49,518 units, sales to other OEMs of 5,899 units and exports of 11,597 units, the company said in the release. For the full financial year 2020-21, the company posted a total sales of 14,57,861 units, which is 6.7 percent lower than FY 2019-20, it added.

Bharat Electronics | CMP: Rs 126 | The share price ended in the green on April 1. The company achieved a turnover of about Rs 13,500 crore (provisional & unaudited) during financial year 2020-21, against the previous year's turnover of Rs 12,608 crore, the company said in the press release. Its order book as on April 1 is at around Rs 53,000 crore. In the year 2020-21, the company secured orders worth Rs 15,000 crore.

Mahindra & Mahindra | CMP: Rs 806.90 | The stock added over a percent as the company declared its sales for the month of March. It reported a 128 percent YoY jump in total tractor sales to 30,970 units for March. The total sales in March 2020 stood at 13,613 units, the company said in a statement. Tractor sales in the domestic market grew 122 percent to 29,817 units in March, compared with 13,418 tractors sold a year ago. Sales in the overseas market surged 491 percent to 1,153 units, from 195 tractors in the year-ago month, it added.

IRB Infra | CMP: Rs 114.05 | The share price jumped over 5 percent after the company received a letter of award from NHAI for the 'rehabilitation' and upgrade of 4-lane configuration and strengthening of Punjab/Himachal Border from 11 km to 42 km (Design Length 28.700 KM) of NH-20 of Pathankot-Mandi section in the state of Himachal Pradesh on hybrid annuity mode.

Indraprastha Gas | CMP: Rs 526 | The stock gained over 2 percent after the company signed a long- term gas supply agreement with Delhi Transport Corporation (DTC) to supply CNG for a period of ten years till December 2030.

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New tax rules to Saral Pension policy: Most important changes in personal finance from April 1

As the new financial year begins, there will be a host of changes in how you spend money. From April 1 onwards, many new norms will be effective such as changes in airfare to standard insurance policies. From April, if employees’ contribution to provident fund exceeds Rs 2.5 lakh in a year, the interest earned on contribution over Rs 2.5 lakh will be taxable

New tax rules on provident fund: Interest on employee contributions to provident fund of over Rs 2.5 lakh per annum would be taxed, finance minister Nirmala Sitharaman announced in Budget 2021. The Centre increased the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax-exempt, if there is no employer contribution.

Inclusion of dividend income in ITR for the year ended March 31 2021: the dividend received from Indian Companies as well as mutual fund schemes were tax free in your hands as the tax was on the dividend or income distributed was paid by the Company or the mutual fund till March 31, 2020.

-LPG cylinder prices to become cheaper: The price of domestic cooking gas (LPG) to be reduced by Rs 10 a cylinder from April.

-Air travel to become costlier: Aviation regulator Directorate General of Civil Aviation (DGCA) has hiked air security fee (ASF) that will make your air travel costlier from April. While the rise in ASF for domestic passengers is of Rs 40, for international passengers, the rise is of Rs 114.38.

-Standard personal accident insurance policy: Commencing from April 1, all general and health insurers to offer a standard personal accident insurance product. Saral Suraksha Bima will offer a minimum sum insured of Rs 2.5 lakh. The maximum sum insured will be Rs 1 crore. Sum insured offers should be in multiples of Rs 50,000, IRDAI said, adding insurers can offer on their own beyond the mentioned range under this policy. Anyone over 18 years old can buy this policy. The maximum age at entry is set at 70.

Tax benefits on Unit-Linked Insurance Products (ULIP): If the annual premiums are Rs 2.5 lakh or more then the maturity gains in Unit Linked Investment Plan (ULIPs) would be taxed, the finance minister announced in union budget 2021.

HSN code mandatory for businesses with over Rs 5 crore turnover: On the Goods & Services Tax (GST) front, the generation of e-invoice by businesses with turnover of over Rs 50 crore will be mandatory from April.

Reduced period for filing the belated ITR or for revising your filed ITR: Previously, if you failed to file your ITR by the due date of July 31 you could still file it by March 31 with late fee. Likewise, after having filed your ITR, if you noticed any omission or mistake, you could revise the same by March 31 of the same year. But, Finance Bill for 2021-2022 has proposed to reduce this time limit by three months and therefore you will have time to file your belated ITR or revise your ITR till December 31 of the same financial year.

Senior citizens above 75 years exempted from filing income tax return: Starting from April 1, Senior citizens above the age of 75 years, who only have pension and interest as a source of income will be exempted from filing the income tax returns. It must be noted that the senior citizens who are above 75 years age, are not exempted from paying tax but only from filing income tax return (ITR) if they are eligible to certain conditions. There is massive relief extended to a section of senior citizens. For those aged 75 or more, and who only have pension and interest income, filing their income tax returns will not be required. The finance minister didn’t specify whether dividend income is also included to help senior citizens qualify. Many senior citizens also invest a portion of their portfolios in equities. The budget fine print is likely to provide greater clarity

-Saral Pension policy: All life insurance companies will mandatorily offer a standard individual immediate annuity product from April, asked by the Insurance Regulatory and Development Authority of India (IRDAI). Under Saral Pension policy, minimum annuity of Rs 1,000 per month, Rs 3,000 per quarter, Rs 6,000 per half year, and Rs 1,2000 per annum will be provided. The minimum entry age to buy this plan will be 40 years and the maximum will be 80 years. This will be a single premium, non-linked non-participating immediate annuity plan.

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