Market Cap: Steel, oil and gas stocks saw a drop of Rs 2.6 lakh crore in market cap on new taxes

[ad_1] Mumbai: Market capitalization of Rs 2.6 lakh crore has been wiped out steel and oil and gas shares After the government implemented the new taxes Analysts on these two sectors have warned that the new taxes will impact corporate earnings and may also raise a fair level of concern among investors about the overall investment climate in the country. Sanjeev Prasad said, “The recent imposition of new taxes or increase in tax rates in some sectors may help the government to generate additional revenue and fight inflation, but it…

Bitcoin: Bitcoin poised for biggest quarterly drop in more than a decade

[ad_1] Bitcoin is on track for its worst quarter in more than a decade, as a string of more rigid central banks and high-profile crypto blowups hammer sentiment. Biggest drop of 56% cryptocurrency The biggest since the third quarter of 2011, when bitcoin was still in its infancy, data compiled by bloomberg performance. The decade between those hallmarks saw several booms and busts, with the market value of cryptocurrencies swelling up as well as more widespread adoption and ultra-low interest rates prompting risk-taking. But the current bear market stands for…