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In the international market, gold was trading lower at USD 1,794 per ounce and silver was flat at USD 22.63 per ounce.

Its total income rose to Rs 649.97 crore, from Rs 517.91 crore a year ago.

“There are a couple of things that the Budget need not or should not compromise on – one is, of course, income support, it has to be very targeted to ensure that you get the biggest bang for your buck and the other is to keep the employment-intensive investments, infrastructure, housing and so forth going. This is how I see it.”

"Note zero capitulation in equity positioning", the research note read, adding that year-to-date, $84 billion has poured into markets and only 2 out of the 18 trading days this month had seen investors withdraw cash.

The Nifty Pharma index closed 1.05 per cent up at 12983.05.

The broader Topix rallied 1.87%, but was still 2.61% lower for the week.

The blue-chip CSI300 index fell 1.2% to 4,563.77, while the Shanghai Composite Index lost 1% to 3,361.44.

RBL Bank Ltd., incorporated in the year 1943, is a banking company (having a market cap of Rs 9009.74 Crore).

The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.

Even though such business income is covered under 100% deduction for the GIFT IFSC units, any payment made to such GIFT IFSC units are subject to withholding tax under the Act. Currently, the exemption of tax withholding and reduced rates is only on certain income.