At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 202.48 points or 0.27% to 73,803.46. The Nifty 50 index lost 31.85 points or 0.14% to 22,470.15.

Retirement fund body EPFO has recorded a net addition of 14.41 lakh members in March this year, according to the latest payroll data released on Monday. The payroll data highlighted that approximately 11.80 lakh members exited and subsequently rejoined the EPFO (Employees’ Provident Fund Organisation), a labour ministry statement said. According to the statement, these members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. Gender-wise analysis of payroll data unveils that out of 7.47 lakh new members, around 2 lakh are new female members. Also, the net female member addition during the month stood at around 2.90 lakh. The female member addition is indicative of a broader shift towards a more inclusive and diverse workforce.

The Government of India (GoI) has announced the sale (re-issue) of (i) New GS 2027 for a notified amount of Rs 6,000 crore (ii) 7.23% GS 2039 for a notified amount of Rs 12,000 crore and (iii) 7.46% GS 2073 for a notified amount of Rs 11,000 crore . The auction will be conducted using multiple price method for New GS 2027, 7.23% GS 2039 and 7.46% GS 2073. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 24, 2024 (Friday). GoI will have the option to retain additional subscription up to ₹2,000 crore against each security.

JSW Steel reported 64.66% decline in consolidated net profit to Rs 1,332 crore in Q4 FY24 as compared with Rs 3,741 crore in Q4 FY23.