'STT revenues will be down by 50 per cent if this continues': Zerodha cofounder Nithin Kamath sounds alarm amidst ongoing market crash
3 weeks, 2 days ago

'STT revenues will be down by 50 per cent if this continues': Zerodha cofounder Nithin Kamath sounds alarm amidst ongoing market crash

Op India  

Zerodha cofounder Nitin Kamath on Friday raised alarm over the ongoing bloodbath in the stock markets. Kamath’s tweet came in the wake of a steady sell-off in the Indian markets, including on Friday, with the BSE Sensex registering a staggering 1,400 points decline. The Zerodha cofounder further added that the drying up of volumes demonstrated the shallowness of the Indian markets, pointing out that active trading is still limited among 1-2 crore Indians. Kamath suggested that if the ongoing market correction persists, the Indian government’s revenue from the Securities Transaction Tax could drop by 50% to Rs 40,000 crore in FY 2025-26, far below the projected Rs 80,000 crore. On Friday, February 28, 2025, India’s benchmark indices, Nifty50 and Sensex, saw a sharp decline due to the impact of President Trump’s tariffs, continued selling by Foreign Institutional Investors, and weak global signals.

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