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https://economictimes.indiatimes.com/news/politics-and-nation/why-india-may-be-donalds-trump-card/articleshow/74263600.cms

(This story originally appeared in on Feb 23, 2020) The US pivot to Asia has been almost a decade in the making. But for the past two decades, the more significant development has been the Indian pivot to the US. This change of direction, after almost half a century of “tilt” towards Russia, has meant that on a geopolitical level, India is quietly reorienting its approach, outlook and policies to reflect the growing convergence with the US. Donald Trump may be the most transactional US president till date, but he has largely upheld the traditional American understanding that India’s global rise is a good thing because a successful India would be a powerful democratic counter-balance to an expansionist and authoritarian China.This matches India’s own notion that it was the only natural balancing power to China in Asia. That was one of the reasons behind the US using its global heft in an unprecedented move to lift India’s nuclear pariah status. Since then, India has been integrating itself into the global technology regimes, which it had been denied. As former PM Manmohan Singh observed while returning from signing the deal in 2005, “The nuclear deal will do for India in strategic and technology terms what the 1991 economic reforms did for its economy.”When Modi came to power in 2014, his overt investment in the US could not be missed. He built a solid relationship with Trump’s predecessor, Barack Obama and over the past three years, has assiduously worked on Trump. Going beyond the trade difficulties, the Modi government moved from crafting a joint strategic vision for Indian Ocean and Asia-Pacific in January 2015 to aligning their Indo-Pacific policies by 2019. In 2018, the Pentagon articulated what it called a “three-pronged” strategy of maritime cooperation with India — a shared vision on maritime security, upgrading bilateral maritime security partnership and collaborating to build regional capacity and improve regional maritime domain awareness. In the past few years, India has built its own complementary strategy.As Ashley Tellis points out in an article for Foreign Affairs, “The Trump administration’s focus on great-power competition, its designation of China as a strategic competitor, and its pursuit of a ‘free and open Indo-Pacific’ all gave India renewed importance.”What this showed was the growing convergence between the two asymmetrical powers on strategic affairs — as the US took on China in the South China Sea, India has been slowly but surely building up its own capabilities in the Indian Ocean, both with the aim of balancing China’s rise. India has been building its own alliances in the Indo-Pacific region — with France, Australia, Indonesia, Vietnam and Singapore, all with huge overlaps with the US. India’s closest strategic partner in Asia is Japan, which, together with the US, forms the core of the Indo-Pacific.India has also accommodated the US in its immediate neighbourhood, from Nepal to Bangladesh and Sri Lanka, as both powers work to limit China’s influence. In the past few months, both the US and India have independently been reaching out to the Central Asian states, building networks that provide alternatives to Chinese expansionism — the US also wants to limit Russia’s influence, but India is happy to give Russia a lead position there. This flexibility has worked well for India, while the US is slowly learning to live with India’s independent strategic vision that includes Russia and Iran.Three areas — energy, defence, and people — provide the underpinnings for the new and improved India-US strategic partnership. India is diversifying its energy basket away from the Gulf by buying more oil and gas from the US. The US has become one of India’s biggest defence suppliers. Underlying this geopolitical convergence is the obvious affinity of the Indian people for the US, which has meant 4 million Indian Americans, 200,000 students who form the backbone of the strategic partnership. That is for any US administration to cash in, because it ties India closer to America in the most fundamental of ways.Tellis says, “India and the US are far from becoming formal allies. They are dogged by persistent trade disagreements, which India shows no inclination to settle. But given Trump’s record with other US allies, his administration has been surprisingly lenient when it comes to India’s uncompetitive trade practices. It has also kept mum about India’s feared drift toward illiberalism, enabling both countries to push ahead on strategic, especially defence, cooperation, which has always been the lodestar that guides US-Indian relations.”

the US has been using its global heft to lift India’s nuclear pariah status. since then, India has been integrating itself into the global technology regimes, which it had been denied. the change of direction has meant that on a geopolitical level, India is quietly reorienting its approach, outlook and policies to reflect the growing convergence with the US.

Positive

https://www.financialexpress.com/industry/sme/msme-fin-rs-50000-crore-fund-of-funds-for-equity-infusion-in-msmes-to-benefit-msmes-says-nitin-gadkari/1959351/

Credit and Finance for MSMEs: The Fund of Funds announced by the Finance Minister Nirmala Sitharaman on Wednesday to infuse Rs 50,000 equity in MSMEs will cater to more than 25 lakh MSMEs, according to MSME Minister Nitin Gadkari. Set-up with a corpus of Rs 10,000 crore, the Fund of Funds “will benefit over 25 lakh MSMEs under stress,” a statement by the MSME Ministry cited Gadkari as saying in a video message. The fund will help MSMEs with “growth potential and viability” even as they “face severe shortage of equity,” Nirmala Sitharaman had said. Moreover, the fund will be operated through a Mother Fund and a few daughter funds to enable MSMEs expand in size and capacity and would also encourage them to list on the main board of the stock exchanges. Gadkari also hoped that with the easing of the global tendering norm MSMEs will be able to get orders from defence and police departments for uniforms etc. Sitharaman in the relief measures for MSMEs had disallowed global tenders up to Rs 200 crore for MSMEs to compete better against foreign companies for government procurement tenders. Also read: Small businesses welcome govt’s 2% interest subvention for Mudra loans but say repayment still tough The MSME Ministry has been aiming at increasing the turnover of the village industry from around Rs 88 thousand crore to Rs 5 lakh crore in next two years. Gadkari said the financial package for MSMEs will “help achieve this target in a big way. The Khadi sector will play a big role in this as it is entering into exports also.” Meanwhile, under the second leg of the stimulus package announced by Sitharaman on Thursday, a 2 per cent interest subvention on loans up to Rs 50,000 secured by small businesses under the Mudra scheme’s Shishu cover was announced. The interest subvention will be offered to prompt payees making regular payments for 12 months. The total relief amount — under the subvention to Shishu loanees making regular payments — will be Rs 1,500 crore.

set-up with a corpus of Rs 10,000 crore, the Fund of Funds "will benefit over 25 lakh MSMEs under stress" the fund will help MSMEs with "growth potential and viability" it will be operated through a Mother Fund and a few daughter funds. the fund will also encourage them to list on the main board of the stock exchanges.

Positive

https://www.financialexpress.com/brandwagon/india-races-ahead-of-indonesia-brazil-us-in-finance-app-installs-appsflyer/1941868/

India had the highest number of finance app installs last year followed by Indonesia, Brazil, Russia and the US, as per AppsFlyer ‘The 2020 State of Finance App Marketing Report for APAC region.’ The report also highlights that the finance app installs market share shot up by nearly 90% in 2019. According to the report, the APAC region’s performance can be attributed to some unique business models created by mobile entrepreneurs propelling the growth of an “app-tizing economy.” Moreover, the unbanked/underbanked segment has been the driving force behind the growth, with money-lending apps leading the pack accounting for close to 50% in H2-2019. In the year 2019, five in every 100 apps downloaded were finance apps, thereby emerging as the second-highest category and the sixth-largest in terms of total installs. India is home to a huge unbanked population however, it also has one of the fastest-growing digital and mobile-first populations in the world, Sanjay Trisal, country manager, AppsFlyer India said. “People in our region use their mobile phones for a whole range of lifestyle activities, including financial needs. This is especially relevant today, as the global COVID-19 pandemic is affecting access to financial services. People across the world are staying at home, and app usage is on the rise, especially with payment and banking apps,” he added. The rise of innovative FinTech companies has led banks and other regulated financial institutions also to adopt new technologies and develop digital capabilities. Over the last few days, with lockdown impacting financing sector across the world, the demand for managing online finances is further witnessing a surge. “The need for quick, short-term loans, as well as awareness about digital-touch transactions during an economic crisis, has contributed to increased app adoption. The volatile stock markets have also led to an increased usage of investment apps among investors,” the report stated. Read Also: Business apps witness 105% rise in time spent in Q1 2020: Adjust report Follow us on Twitter, Instagram, LinkedIn, Facebook

in the year 2019, five in every 100 apps downloaded were finance apps. the unbanked/underbanked segment has been the driving force behind the growth. india is home to a huge unbanked population but also has one of the fastest-growing digital and mobile-first populations in the world. the rise of innovative FinTech companies has led banks and other regulated financial institutions to adopt new technologies and develop digital capabilities.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/bulk-deal-radhakishan-damani-buys-delta-corp-shares-sameer-gehlaut-raises-stake-in-indiabulls-housing/articleshow/74917633.cms

MUMBAI: Investors such as Radhakishan Damani and Sameer Gehlaut lapped up stocks on Dalal Street on Tuesday, according to the bulk deals data.BSE barometer Sensex rallied 3.62 per cent or 1,028 points to end at 29,468.49 on the back of positive cues from global markets. While NSE Nifty rose 3.82 per cent or 317 points to settle at 8,598.Here’s who bought what in some of key bulk and block deals of the day:Radhakishan Damani stocked up on Delta Corp as he bought 15,50,000 shares at Rs 65.25 each from Derive Investments, NSE data showed. As of end December 30, he held 1.32 per cent stake in the company. Delta Corp shares closed nearly 5 per cent higher at Rs 65.35 on the exchange.Sameer Gehluat further hiked stake in Indiabulls Housing Finance as he bought 24,00,000 shares in the company at Rs 96.33 each. Last week, he had bought 23,00,000 of the company at Rs 96.56 per share. At the end of the December quarter, Gehlaut held 0.12 per cent stake in the NBFC. The shares closed 6.62 per cent higher at Rs 97.40.Ward Ferry Management bought 9,02, 482 shares in MCX at Rs 1,066 per share, while East Bridge Capital sold 9,06,409 shares in the company at Rs 1,066.08 per share. MCX shares closed 6.92 per cent higher at Rs 1,106.45 on the NSE. HDFC Mutual Fund bought 30,00,000 shares of Suprajit Engineering at Rs 113.50 for its HDFC Small and Mid cap fund. Suprajit’s shares closed 2.97 per cent lower at Rs 111.05.

Sensex rallied 3.62 per cent or 1,028 points to end at 29,468.49. while NSE Nifty rose 3.82 per cent or 317 points to settle at 8,598. Sensex rallied on the back of positive cues from global markets. 'i'm not a big fan of a big deal,' said a spokesman for the bse.

Positive

https://economictimes.indiatimes.com/markets/expert-view/add-the-alpha-generators-but-dont-ditch-the-nifty-cos-yet-mahesh-patil/articleshow/72123268.cms

Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Executive Officer Programme Visit Indian School of Business ISB Chief Technology Officer Visit IIM Kozhikode IIMK Chief Product Officer Programme Visit "While the current earnings are bad and economic growth print this quarter will probably be the slowest, things will start to improve from here." — Mahesh Patil One can incrementally add companies where earnings are depressed and where there is scope for a cyclical recovery in earnings and some potential for PE rerating and which over the next two-three years, could generate alpha, says, Co-CIO,. Excerpts from an interview with ETNOW.Earnings or markets are always anticipating future earnings.This year again, earnings have been downgraded. We were looking at the beginning of the year but as you move forward, the base becomes favourable. So, the next year earnings looks very good. That fact is there are some challenges. In the last two quarters, we have seen the GDP growth slowdown materially and that has heard the earnings growth across though the tax cuts have given a kind of prop. Despite the downgrades, I think the earnings growth this year is still looking at around 15% growth, which is not bad.Two things happened on the global front. As a result of the easy monetary policy , globally a lot of central banks have become very dovish. Global liquidity and money supply have started to increase again after contracting last year when US was tapering. We have seen the US going into quantitative easing (QE). The European Union is again talking about fiscal stimulus. So, the money supply globally has improved and that is giving rise to a feeling that there will be a revival in global growth.That has changed globally and you can see money supply coming in. Money is flowing back into the emerging markets and in the last two months, FII flows have been positive. On the domestic side, there has clearly been a slowdown. It is doing its bit now. There is a clear acknowledgement of the slowdown and various efforts have been made to address the slowdown including recent tax cuts or attempts to address the NBFC problems by providing more liquidity into the system. All that is giving hope. Equity is not about the current but it is about looking into the future. While the current earnings are bad and economic growth print this quarter will probably be the slowest, still things will start to improve from here.Rate cuts are also being slowly transmitted. Altogether, the market is feeling the worse is behind us and things will start to improve.The market probably is slightly ahead. If you look at what caused the slowdown in the economy in the last two quarters, a), the government’s spending contracted quite a bit in the last two quarters because of elections and that money started to flow back into the system. We have seen the government starting to make disbursals, so that supply from the government side is slowly starting to come in.The rural economy has been fairly slow. The commentary from some of these consumer names has seen a slowdown even for auto names. The excess monsoon has created some kind of a havoc because of the reiterating monsoon. This season might still not be that great but it bodes well for the rabi crop and the water levels are good.The rural economy should start to look up in the second half. That would help consumption a bit. We have seen rate cuts of around 135 bps in this calendar year. The transmission has been slow and for a lot of companies and corporates who want to borrow, the rates are still fairly high, spreads are still very high. That will slowly start to normalise.The problem in the NBFC sector is still not over but enough remedial measures have been taken over there and so there is no contagion effect. Also the good news is that wherever there have been companies which have been faced problem because of the global risk appetite coming back, there is money coming back. We have seen lots of investors -- whether PE funds or other investors -- coming in and trying to buy some of these distressed assets.Some of these NBFCs are facing challenges on the liability side. As investors come in, that should slowly settle down a bit. We will see interest rate transmission starting to happen and that will help to stimulate some amount of demand on the retail side. These are some of the positives.I agree that we will not see a sharp recovery from here. It will be a very slow and gradual recovery. Market at this point are probably factoring most of the stuff and we might not see a big upside from here from a near-term perspective. But globally, because of the easy money and low interest rates, valuations are fairly high. So, market could get into consolidation phase.In the financial services sector, in the last four-five months we have increased our exposure in the insurance space because companies there have steady earnings visibility. Valuations have now again been kind of priced in but we see a steady compounding over there.When you look at the headline numbers -- just like a top line in a company is the sales numbers -- it is showing weakness because ULIPs are linked to the market. They are probably not growing as much as the adjusted premium equivalent, APE data. We call it equivalent to a top line for a company that is showing some weakness. But what is happening in insurance is that the more profitable products which is more protection, the growth is fairly strong there. Since there is under-penetration in that category, a lot of companies are now focussing on driving protection products where the ROE is much higher. So, the mix is improving and as a result, the operating profit growth is much stronger while the sales top line growth is weaker. In a normal parlance, if you compare with any other company, that is what is looking good and it is a more distribution product on the protection side.As banks drive distribution, that is providing a steady growth to the earnings or the operating earnings for the insurance companies. That is how you value those companies not on the top line but on the ROEV.It has reached a point where for a couple of players, the overall profitability has come to a level where because of the government intervention also, there is a scenario where operators are willing to take price hike. It is going to be a long wait though because each company would have different dynamics depending on how the operating ratios are and how the debt burden is. That will decide in the longer term which companies will survive.Having said that, clearly we have seen the players. The largest player who was aggressive in the market has taken some indirect price hikes and that has given room for the incumbents to also take price hikes and it looks like finally the price war has bottomed out. If somebody has to earn a decent return on capital, there is room for more price increases down the line and that would be positive for the sector in terms of news flow and in terms of growth, because we are not going to see more growth coming in because of increase in penetration.We have driven penetration sufficiently. Obviously people will migrate from 2G to 4G and so data customer base would increase and that will drive the increase in ARPU going forward. We are fairly constructive on this sector. IT has to be considered on a case-to-case basis, but directionally it looks like the EBITDA numbers and growth will improve from here.We had reduced exposure in metals earlier because though there is some kind of risk on that could see some upside in the metal space, but by and large overall global growth outlook will still remain fairly tepid. We were very positive on metals last year but we have reduced weightage over there. We are underweight that sector.We have slightly reduced weightage in the consumer side also because of the valuations, though there is nothing too wrong over there in terms of a slight slowdown in growth. However, though we are down on consumer staple, we are still positive on consumer discretionary, consumer durable names. During the early part of the year, we reduced our exposure in autos but we are re-evaluating that as we are seeing some kind of bottoming out in terms of volume de-growth that we have seen in the last one year.In the last one and a half years, the market rally has been fairly narrow. A few stocks have done well and so there is a valuation divergence across the largecaps and also within the midcap space. It is still early days. Unless the domestic economy gains significant traction, we would not see the mid and smallcap stocks really participate in a big way. So, it is not going to be across-the-board but picking selectively because of the marked lack of interest in small and midcap space. Quite a few stocks are available at reasonable valuations. It is more a stock specific valuation call, which we are looking to add in some of these stocks.If we see the domestic recovery starting to play out, then there will be wider participation in the mid and smallcap space across the board. One should still stay away from companies with high leverage or promoter concerns. The risk in the mid and smallcaps still remains fairly high. We are not seeing a broad-based rally at least in the near term but if you take a three-year view and try to build up a portfolio, I think there are enough pockets of value in the small and midcap space.I would agree. These companies will continue to do well in terms of earnings, but somewhere down the line, as the markets and the cycle with liquidity and risk comes back, you would tend to move down the spectrum and other companies where multiples, earnings are depressed because of the slowdown that we have seen.You are looking at companies where you could see big returns over the medium to long term, companies where there is a potential of high earnings growth and PE rerating. Some of these larger companies have steady earnings growth. Because the earnings have been right and PE multiples are fair, there is no PE rerating scope. They will continue to grow at the pace of earnings which would be around 10-12-13-14%. It is not a time to move out from some of the large names, we are still having them in the portfolio.Incrementally one can add companies where earnings are depressed and where you could see a cyclical recovery or otherwise in earnings and some potential for PE rerating and over the next two-three years, these could generate alpha.

despite downgrades, earnings growth this year is still looking at around 15% growth. despite the downgrades, despite the tax cuts, the growth is not bad. despite the downgrades, the growth is not bad. despite the downgrades, the growth is not bad. despite the downgrades, the growth is not bad.

Positive

https://economictimes.indiatimes.com/news/economy/indicators/heres-what-indians-have-been-spending-their-cash-on-during-the-coronavirus-pandemic/articleshow/77404854.cms

Months of lockdown have altered the habits of Indian consumers : Their spending patterns reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom and keeping their homes (and themselves) neat and tidy. And where new routines look likely to stick, some companies stand to gain a lot. Here are a few of the products shoppers in the world’s biggest open consumer market have been stocking up on.Consumers around the world are showing an increased interest in safeguarding their health and boosting their immunity. In India, that often means ayurveda, the country’s ancient system of medicine.Companies such as Dabur India Ltd . and The Himalaya Drug Co. are witnessing high demand for traditional products like chyawanprash (a cooked mixture containing honey, sugar, ghee, herbs and spices) and proprietary supplements like Septilin, which combines ayurvedic ingredients including licorice and guduchi.Chyawanprash sales across the industry grew 283% in June and branded honey rose 39%, according to Nielsen Holdings Plc. Dabur, one of India’s largest ayurvedic products suppliers, said its chyawanprash sales surged 700% from April to June. The surge in spending is likely to last well beyond the next few months, according to Sameer Shukla, west market leader at Nielsen South Asia. “We saw very clear trends in terms of consumer ask — people would like to spend more on immunity boosters, health hygiene & stuff like that,” Shukla said. “This kind of ask is not a short-term one.”Shiny Bhowmik, a working mother of two daughters, has been using chyawanprash for years. Since the onset of the pandemic, the 49-year-old’s family have begun to use the product too. “I like to include immunity boosters like chyawanprash, honey and cloves in my family’s diet,” she said. “I often end up taking spoons of the brown herbal product throughout the day.”Patanjali Ayurved Ltd., the company associated with celebrity yoga guru Baba Ramdev, also reported high net sales between April and June, according to Brickwork Ratings. In June, the Indian government ordered the company to stop claiming that its “Corona Kit,” consisting of three herbal medicines, can cure COVID-19.Sales of packaged foods have surged since March, as home-bound consumers stockpile familiar products that won’t go stale quickly. Breakfast cereals, instant noodles, rice and cooking fats are among the products experiencing the strongest growth but missed out on sales due to stock outages, according to Euromonitor. Nestle India Ltd. — whose instant Maggi noodles are popular — saw revenue grow an “impressive” 10.7% in in the quarter ended March, driven by sales surges for Maggi, KitKat and Munch, according to Haitong Securities Co. analysts Gaurang Kakkad and Premal Kamdar.Another iconic product for Indian families, Parle Products Pvt.’s Parle-G biscuits, logged record sales during April-May. Snackers in search of a familiar comfort food contributed to sales as well as government agencies and NGOs, who have distributed large quantities of the biscuits — which cost just a few rupees a packet — to needy households during the ongoing pandemic.Listed rival Britannia Industries Ltd. “is emerging as the biggest beneficiary from the disruption, as packaged foods consumption is growing strongly, led by higher in-home consumption,” according to Emkay Global Financial Services Ltd. “The shift from unorganized/street food to packaged foods may sustain even post lockdown given higher preference for hygiene and trusted brands.”The brokerage on July 17 raised its target share price on Britannia to 4,500 rupees compared with 3,857.65 rupees on Aug. 6.With much face-to-face interaction off the table for now, it’s not surprising that Indians’ reliance on screens — for both work and recreation — has surged.The number of new students using online education startup Byju’s grew at three times the usual pace between April and June, parent company Think and Learn Pvt. says. Plans for retaining new users include launching courses in vernacular languages and launching more subjects.Online retailer Flipkart says overall laptop searches have more than doubled since March, with high-performance laptops the most popular search. ZEE5 — the homegrown rival to Netflix Inc. — reported a 33% jump in daily active users and 45% in app downloads in May, and, despite the lockdown being eased in several parts of India, there hasn’t been a significant drop, said Rahul Maroli, senior vice president and head SVOD at ZEE5 India, in an interview on July 20.Homebound Indians are also turning to streaming platforms to mourn their favorite stars who died in recent months. “Consumers have really missed some of our actors who are no longer with us — Rishi Kapoor, Irrfan Khan, Sushant Singh Rajput — so we’ve seen a very sharp increase in consumption of shows where these actors have acted,” said Maroli.It isn’t all rosy. With the economy set for a rare contraction and millions of people losing their jobs, poorer Indians are pawning their gold jewelry. Some small business owners, either ineligible for government handouts or daunted by the paperwork involved, are also borrowing more against the precious metal.The shift in behavior has been a bonanza for some firms. Shares of Muthoot Finance Ltd., India’s largest cash-for-gold lender, have surged about 57% this year and some analysts say it’s now big enough to be added to the MSCI India Index. Manappuram Finance Ltd. has experienced a 4.5% growth in its gold-loans portfolio during the lockdown-affected first quarter as existing customers borrow more.For Indians who can still afford it, their new-found spare time is being put to good use at home. Searches for white goods including juicers, mixers, microwaves and toasters quadrupled in July, according to Flipkart. Demand for hygiene appliances such as vacuum cleaners reached four times the pre-pandemic level in July. Companies such as IFB Industries Ltd. have suspended new orders for dishwashers because they can’t keep up with demand.With barbers and salons shut for much of 2020, trimmers including men’s grooming kits have driven sales for Havells India Ltd. The electrical equipment company says monthly sales of trimmers were close to five times as high in this quarter compared to pre-Covid times.“People are experimenting with tools to do activities earlier not done at home — be it beard styling, or a haircut or epilation,” said Gulbahar Taurani, vice president, personal health, Philips Indian subcontinent. Philips India Ltd. recorded a 60%-70% jump in sales of its male and female grooming products from May-June.A quarter of Indians are planning to spend on home care products, driven largely by people aged 18 to 34 as they get more involved in their household and want to spend money to improve their living, according to Mintel Research. This millennial cohort is the largest in the world and, if spending patterns hold, companies all over the globe would do well to pay attention.

consumers are increasingly concerned about protecting their health. companies are seeing high demand for traditional products like chyawanprash. chyawanprash sales across the industry grew 283% in June. branded honey rose 39%. chyawanprash sales surged 700% from April to June. ayurveda is the ancient system of medicine in india.

Positive

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/covid-19-impact-neobanks-like-jupiter-razorpayx-niyo-open-rework-plans/articleshow/76635747.cms

New Delhi | Mumbai: India’s burgeoning neobank sector, an investor favourite, will continue facing challenges in credit business, amid stress in the lending sector as they expect consolidation in the sector, said top industry executives.Neobanks like Jupiter Open are some of the prominent entities among scores of such startups that proliferated over the last two years by forming partnerships with licensed lenders. These players extend an array of digital-only services to consumers and small businesses, in return of commissions.It is to be noted that neobanks are still loosely defined in India, and the scope of regulations governing them is largely a factor of the nature of partnerships they form with the regulated lenders.For example – a neobank partnering with a non-banking finance company (NBFC) to extend loans to borrowers would be guided by the Reserve Bank of India’s norms around lending. Similarly, those providing a wider set of solutions, such as account opening and merchant management, will need further approvals to be an eligible third-party service provider.A digital bank opening accounts on behalf of their partner bank needs the license of an institutional ‘banking correspondent’. Similarly, those managing nodal settlement accounts of merchants must acquire a payment aggregator license.Despite complicated, and somewhat provisional compliance and regulatory rules that govern these entities, they have, over the last two years, been an investor-favourite in India having attracted between $200-$250 million in funding since 2018, according to data gathered from industry sources and business intelligence platform Tracxn, compiled by ET showed.However, the Covid-19 pandemic induced liquidity tightness in India’s non-bank lenders and sluggish economic parameters especially for small businesses, have forced some of these startups to postpone the launch of their credit products.Lending, which is a critical component in their business model – both in terms of operations and revenue – is under stress due to compounding liquidity problems in India’s non-bank sector worsened by the ongoing crisis.“We have gone into a wait-and-watch mode. The initial plan was to launch credit from day one, but now we expect to introduce our credit offerings after another 2-3 months or likely towards the end of second quarter,” Jitendra Gupta, chief executive of Jupiter, told ET.He said they want to analyse more consumer data, particularly on defaults, moratorium, and basis a consumer’s profile before lending. Jupiter counts Sequoia Capital , 3one4 Capital, Matrix Partners , along with a number of high-profile angel investors, among its list of backers, and is among the most well-funded startups in the segment.Just like Jupiter, the likes of Open, have partnered with NBFCs to facilitate their credit programmes. These lenders were already reeling under immense troubles due to defaults by big players like Il&FS and DHFL since late last year.The trend follows that of neobanks facing stress internationally. UK digital bank Revolut, one of the most richly-valued neobanks globally was reported to have laid off staff last month.“We expect at least three to six months for normalcy to return simply because collections are low. Clarity on moratorium is also needed to ascertain. Pause during lockdown was because NBFCs wanted to be sure businesses wouldn’t shut down,” Harshil Mathur, CEO of Bengaluru-based Razorpay, told ET.Razorpay owns and operates RazorpayX, its neobanking unit, which was launched In November 2018, and offers services such as cash flow management, transactions and flexible payouts 24x7 to 7 lakh businesses currently on the platform.In November last year, RazorpayX introduced facilities like current accounts, corporate credit cards for businesses in the capacity.“New disbursements have completely come to a standstill. It is not even 10% of pre-Covid-19 levels. That is a big problem and a large portion of the demand for credit, is coming from consumers, who have lost jobs or have undertaken salary cuts. It’s been a double whammy,” Jupiter’s Gupta said.While the first two months - April and May - of the first quarter of fiscal 2021 are being seen as a complete washout, there are certain green shoots that have emerged over the course of June, even as Asia’s third-largest economy begins opening up gradually and under tight restrictions.“From a business growth perspective, it was pretty low compared to pre-Covid-19 months. Only June, have we seen a recovery, which is almost equivalent to February… In the next ten months we’ll see recovery on the same lines,” Mathur said.Traditional banks, according to the founders, have begun increasingly looking to partner with neobanks, as they look to onboard new customers given social distancing norms are in place making consumers cut down visits to physical branches and ATMs.“We’ve also been parenting with banks, selling our enterprise solution to them, and which has really picked up. The banks have started investing in improving their infrastructures, so that once the market gets back, they can compete with the fin-techs,” Anish Achutan, CEO of Open, said.“In this environment I expect some smaller neo-banks who are perhaps seed funded or have products in the ropes, to be most severely impacted….There could be consolidations among smaller players, and we could see some bigger players who are well-funded or raised capital before the lockdown sensing opportunities for acquisitions in the market,” Navin Surya, chairman, Fintech Convergence Council , said.

Jupiter Open is one of scores of startups that proliferated over last two years. they extend digital-only services to consumers and small businesses. neobanks are still loosely defined in india and scope of regulations governing them is largely a factor of the nature of partnerships they form with the regulated lenders. despite complicated, and provisional compliance and regulatory rules that govern these entities, they have attracted between $200-$250 million in funding since 2018.

Positive

https://www.financialexpress.com/industry/pending-investor-grievances-drop-16-till-fy18-end/1281721/

Investor grievances pending with Sebi dropped by 16 per cent to nearly 3,800 at the end of 2017-18 with the markets regulator working on their expeditious disposal, according to a Sebi report. The number of pending actionable grievances stood at 4,476 as on March 31, 2017. According to the SCORES data, such complaints numbered at 3,771 as on March 31, 2018, registering a fall of 15.75 per cent from the year-ago period. Pending actionable grievances exclude the complaints against which regulatory action has been initiated. Also, there has been a 13-fold plunge in number of the pending grievances at the end of the previous fiscal in comparison to the conclusion of the financial year 2008-09, when the number stood at 49,113. “… the number of pending grievances has been steadily declining over the years due to expeditious disposal at the end of Sebi,” the report said. Out of the pendency of 3,771 grievances, 3,124 are pending for less than six months. “Further, only 647 grievances are pending for more than six months as on March 31, 2018 as compared to 984 grievances being pending for more than six months as on March 31, 2017,” the report noted. The Sebi Complaints Redressal System (SCORES) is a centralised web-based grievance remedial platform. It enables market intermediaries and listed companies to receive complaints online from investors, redress them and report redressal online. The regulator received 43,131 investor complaints during 2017-18, as against 40,000 in the previous fiscal, according to the report. “The number of investor complaints received by Sebi on cumulative basis increased from 30,03,454 as on March 31, 2017 to 30,46,585 as on March 31, 2018,” the report said. Also, 43,308 complaints were redressed by Sebi during 2017-18, in comparison to 49,301 in 2016-17. Cumulatively, the number of redressed complaints stood at 29,19,690 till the end of 2017-18, while 28,76,382 grievances were taken care of till the conclusion of the previous fiscal.

investor grievances pending with Sebi dropped by 16 per cent to nearly 3,800 at the end of 2017-18. the number of pending actionable grievances numbered at 3,771 as on march 31, 2018, registering a fall of 15.75 per cent from the year-ago period. there has been a 13-fold plunge in number of the pending grievances at the end of the previous fiscal.

Positive

https://www.moneycontrol.com/news/business/markets/taking-stock-no-monday-blues-sensex-up-more-than-400-points-nifty-flirts-with-10800-5513261.html

No Monday blues on D-Street! Continuing with the previous week's momentum, the bulls pushed the Indian market for the fourth consecutive day to a fresh four-month high on July 6. The S&P BSE Sensex rallied by over 400 points while the Nifty50 had a touch-and-go moment with 10,800. The S&P BSE Sensex ended the day 465 points higher at 36,487 while the Nifty50 rose 156 points to close at 10,763. Experts are of the view that disengagement between India and China in the Galwan Valley and strong macro data on the global front lifted sentiment. "Indian indices ended with gains in sync with solid global cues. Global markets rallied on hopes of a faster Chinese economic revival, which could provide support to the global economy. The positivity regarding the recovery is extending to Indian markets also, in spite of surging infections, along with liquidity," Vinod Nair, Head of Research at Geojit Financial Services told Moneycontrol. "The first signs of de-escalation of India –China border tensions should also calm the markets. We maintain the sell-on-rise strategy and advise investors to trade with caution." The broader markets were in line with benchmark indices. The S&P BSE Midcap index rose 1.2 percent while the S&P BSE Smallcap index rallied 1.3 percent . Sectorally, the action was seen in energy, realty, auto, metals, and consumer discretionary stocks while profit-taking was visible in FMCG, telecom, and healthcare stocks. The India Volatility index ended at a four-month low, down 2.2 percent to 25.19. Top Sensex gainers included RIL, Tata Motors, Hindalco Industries and Bajaj Finance. Top Sensex losers included HDFC, Wipro, GAIL India, and Bajaj Auto. Stocks & Sectors Sectorally, the S&P BSE Energy index rose 2.9 percent followed by the S&P BSE Realty index, which was up 2.9 percent and the S&P BSE Auto index closed with gains of 2.9 percent. Profit-taking was seen in S&P BSE FMCG index that was down 0.8 percent followed by the telecom index that fell 0.6 percent and the healthcare index ended 0.19 percent lower. Volume spike of more than 100 percent was seen in stocks like PNB, NCC, Ashok Leyland, Container Corp and SRF. Long Buildup was seen in stocks like SRF, Cummins India and Century Textiles. Short Buildup was seen in stocks like Equitas, IGL and Godrej Consumer Products. More than 100 stocks hit a new 52-week high. These included RIL, Aarti Drugs, Tasty Bite, Balkrishna Industries, Escorts and IOL Chemicals. Stocks in news Power Mech Projects stock jumped 5 percent after the company won projects worth Rs 1,507 crore. HDFC Bank stock added over 2 percent after the private banking major said on July 4 that its advances grew 21 percent year-on-year (YoY) in the April-June quarter to Rs 10,04,500 crore. Aksh Optifibre share fell almost 5 percent after an independent director of the Delhi-based optic fibre-maker wrote to the board and the finance ministry accusing its promoters of siphoning off at least Rs 600 crore. Prism Johnson stock spiked 10 percent after the board approved divestment of the entire stake in the insurance arm. Sobha share price gained over 5 percent after the company clocked a 70 percent jump in sales volume during Q1 FY21 as compared to Q4 FY20. Ircon International stock jumped over 11 percent after the company inked a pact with NIIFL and Ayana Renewable Power for exploring opportunities in the solar energy sector in June. Technical View The Nifty50 formed a small bull candle on the daily charts. Although profit-taking was visible at higher levels, the trend remains on the upside in the near term. The immediate hurdle for the index is seen near 200-DMA placed at around 10900 levels. A close below 10,695 (intraday low) will lead to some more profit-taking while a close above 10,900 could take the index towards 11,240, say experts. “Considering the narrow intraday trading range, we advise traders to remain neutral on the index and they should refrain from creating short positions unless some signs of reversal are visible,” Mazhar Mohammad of Chartviewindia.in said. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

bulls push the Indian market for the fourth consecutive day to a fresh four-month high. the S&P BSE Sensex ended the day 465 points higher at 36,487. the Nifty50 rose 156 points to close at 10,763. the india Volatility index ended at a four-month low, down 2.2 percent to 25.19.

Positive

https://www.financialexpress.com/lifestyle/health/moderna-fires-up-covid-vaccine-race-with-promising-early-results/2025588/

Crucial data from experimental vaccines against the new coronavirus started streaming in as Moderna Inc. disclosed early results and new findings from the University of Oxford’s rival shot were reported to be imminent. Moderna’s vaccine elicited antibodies in all people tested in an initial safety trial, federal researchers said Tuesday. Early results from tests of a vaccine Oxford is developing with AstraZeneca Plc will be published as soon as Thursday, according to a report on the ITV.com website. New immunizations are reaching important milestones as the virus surges in the U.S. and other countries, continuing to stifle economies and claim lives. Governments are investing billions of dollars in the hope that safe and effective inoculations will aid a return to something resembling pre-pandemic life. Investors are also eagerly following the vaccine race, although some drugmakers have said they’ll sell their products at cost during the pandemic. Moderna’s shares surged as much as 18% in U.S. trading despite a high rate of side effects among the 45 patients who got the shot, with three experiencing severe reactions. While ITV.com referred to the Oxford results as “promising,” without providing any data, AstraZeneca shares climbed as much as 4.2% on the report. Other companies researching vaccines for the virus — including Pfizer Inc. and Merck & Co. — also rose, and optimism over Moderna lifted global equity markets. “The good news is that this vaccine induced antibodies,” said Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases. “Not just any kind of antibodies, but neutralizing antibodies.” Fauci, in a telephone interview, called the Moderna data “really quite promising.” Other experts sounded a note of caution over side effects. More than half of participants who got the middle of three doses administered in the Moderna trial suffered mild to moderate fatigue, chills, headache and muscle pain. Also, 40% of people in the middle-dose group experienced a fever after the second vaccination. Three of 14 patients given the highest dose experienced severe side effects, but that dose is not being used in larger tests. ‘Adverse Events’ “Man, that is a lot of adverse events,” said Tony Moody, a doctor and researcher at the Duke Human Vaccine Institute. He said it would be “unusual” for a vaccine to have this rate of side effects. On the plus side, Moody said that the antibody levels produced were “really encouraging.” The neutralizing antibody levels in the trial produced were equivalent to the upper half of what’s seen in patients who get infected with the virus and recover, according to the results published Tuesday in the New England Journal of Medicine. Moderna’s stock has almost quadrupled in value this year on hopes that the company’s vaccine will gain rapid approval. The vaccine will move into a much larger late-stage trial later this month that’s likely to determine whether it’s fit for commercial use. The Drugs and Vaccines That Might End the Coronavirus Pandemic Although stimulating production of neutralizing antibodies doesn’t prove a vaccine will be effective, it’s considered an important early step in testing. The side effects reported weren’t severe enough in the majority of patients to preclude further testing, according to the report by researchers from the NIAID. The vaccine news came as the pandemic continued thriving throughout the U.S. While some states that suffered this spring have managed to quell the contagion, fierce hot spots are breaking out in the Sun Belt. 45 Patients Moderna’s initial results are from the first group of 45 patients who received the vaccine, called mRNA-1273. It evaluated three doses that were given in a two-shot regimen. The middle one was selected for use in the large final-stage study that is slated to begin on July 27th. In the trial, participants received the two shots 28 days apart. After the first dose, all of them generated antibodies that bound to the coronavirus, but most did not yet produce antibodies capable of neutralizing the virus. But all 42 people who got both scheduled doses of the vaccine generated antibodies capable of neutralizing the coronavirus, according to the study results. The final-stage trial will compare the vaccine to placebo shots in 30,000 healthy people at high risk of contracting Covid-19. One significant limitation of the data is it includes information only from the first 45 patients in the study, all of whom were from age 18 to 55. Results from a second portion of the phase 1 trial that included older people — a key demographic for any Covid-19 vaccine, given the high death rate in older patients — are not available yet. William Haseltine, a former Harvard Medical School researcher who chairs Access Health International, said the levels of neutralizing antibodies produced were “respectable” and possibly protective. But he said “the jury is out” on the vaccine’s safety.

moderna's vaccine elicited antibodies in all people tested in an initial safety trial. early results from tests of a vaccine Oxford is developing with AstraZeneca will be published as soon as Thursday. moderna's shares surged as much as 18% in u.s. trading despite a high rate of side effects among the 45 patients who got the shot.

Positive

https://www.financialexpress.com/market/share-market-live-sensex-live-nifty-live-rupee-vs-dollar-exchange-rate-nse-bse-live-updates-latest-stock-market-news-top-stocks-monday-27-august-2018/1293240/

Share Market Today: Indian stock markets (Sensex and Nifty) ended higher on Monday with BSE Sensex and NSE Nifty concluding at their respective closing record highs foll0wing the strong gains in Infosys, ICICI Bank and RIL shares. The benchmark Sensex added 442.31 points or 1.16% to close at an all-time high 38,694.11 while NSE Nifty crossed 11,700 mark for the first time ever in stock market history before closing at a lifetime peak of 11,691.95, up 134.85 points or 1.17%. Indian markets soared heavily in the afternoon deals on Monday with BSE Sensex rallying 484 points and NSE Nifty trading very near to the psychological mark of 11,700. A sustained uptick in the heavyweight shares of Infosys, ICICI Bank, Reliance Industries, SBI, ITC, Kotak Mahindra Bank, L&T, HDFC Bank, IndusInd Bank, HDFC and Axis Bank steered the headline indices to newer record highs. Shares of Sun Pharmaceuticals were the only losers among all the components of BSE Sensex index today. The domestic stock markets went up further with BSE Sensex breaching 38,600 and NSE Nifty climbing the 11,650-mark for the first time in stock market history in the mid-morning deals following the sharp upmove in RIL, HDFC Bank, ICICI Bank, ITC, Infosys, HDFC and SBI shares. Indian equities started on a positive footing on Monday with tracking the upbeat Wall Street and positive Asian cues. Asian shares rose early on Monday, taking support from Wall Street’s gains on Friday after US Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the US economy and job growth, Reuters reported. Powell’s comments, which were in line with market expectations, helped to push the S&P500 index and Nasdaq Composite to record highs on Friday, cementing the S&P’s longest-running bull market, as defined by some investors, the report added. Live Blog Share Market Today: Sensex Today, Nifty Today, Indian Rupee vs US Dollar Exchange Rate, NSE Today, BSE Today, Latest Stock Market News Highlights Sensex @ all-time high | Biggest positive points contributors Closing bell Indian stock markets closed higher on Monday with Sensex and Nifty finishing at their respective all-time highs. The benchmark Sensex settled at a closing record high of 38,694.11, up 442.31 or 1.16% after touching an intraday all-time high at 38,736.88. The 50 share barometer Nifty 50 breached the psychological mark of 11,700 before concluding at 11,691.95, up 134.85 points or 1.17%. BSE advance-decline issues depict different picture As the key equity indices Sensex and Nifty are hovering near record highs, the advance to decline ratio on BSE is indicating something else. A market-wide buying has been seen in the Indian stock markets today as all the sectoral and broader market indices of NSE are trading in positive territory. While, on the other hand, about 1,140 stocks are trading in green while 1,569 shares are trading in red on BSE. As many as 134 scrips hit fresh 52-week highs while 117 touched their respective 52-week lows. Nifty tops 11,699.3 The wider share indicator Nifty 50 hit a fresh record high at 11,699.3, up 142.2 points. The gauge is now 0.7 points away from hitting the psychological level of 11,700. As many as 46 shares of NSE Nifty 50 index are trading in green with Power Grid, Hindalco, ICICI Bank, SBI, Tech Mahindra, Grasim, Infosys, Yes Bank, Bharti Airtel, Kotak Mahindra Bank, Wipro, HCL Tech, Axis Bank, IndusInd Bank, Tata Motors, L&T, IOC, Reliance Industries, ITC, NTPC, UPL, Tata Steel, BPCL, HPCL and Bajaj Finance gaining 1-4%. Sensex Live: 30 of 31 stocks trade in green Sensex rallies 484 points, Nifty nears 11,700 Indian stock markets rallied heavily in the afternoon deals on Monday extending the morning gains with BSE Sensex advancing 484 points and NSE Nifty nearing the psychological mark of 11,700 for the first time ever. The benchmark Sensex surged 484.28 points to hit a fresh all-time high at 38,736.08 while NSE Nifty added 138.3 points to hit an all-new record peak at 11,695.4. The blue-chip shares of Infosys, ICICI Bank, Reliance Industries, SBI, ITC, Kotak Mahindra Bank, L&T emerged as the biggest positive points contributor to BSE Sensex. Rupee to average at 69 in FY19 The rupee is likely to average at 69 per US dollar this financial year, largely driven by stronger domestic macro fundamentals and foreign fund flows, PTI said citing a Bank of Baroda report. According to a Bank of Baroda research report, India’s twin deficit and inflation are at a “far more comfortable position” than in 2013. Besides recent fall in oil prices and strong foreign portfolio investors’ (FPI) inflows will also support the domestic currency. Japan’s Nikkei ends at 10-week high Japan’s Nikkei ended at a 10-week high on Monday, taking a positive cue from Wall Street after the US Federal Reserve Chairman Jerome Powell affirmed that the Fed was sticking with its strategy of gradual rate hikes to protect economic growth, Reuters reported. The Nikkei share average ended 0.9% higher at 22,799.64, the highest closing level since June 15, the report added. Nifty Live: Top 10 gainers of NSE Nifty 50 Nifty Live: India’s share markets are hovering at all-time highs with BSE Sensex and NSE Nifty trading above 38,600 and 11,660. Shares of Power Grid (up 3.22%), Hindalco (up 2.66%), Yes Bank (up 2.46%), Grasim (up 2.22%), Kotak Mahindra Bank (up 2%), Bharti Airtel (up 1.9%), SBI (up 1.85%), ICICI Bank (up 1.83%), Tech Mahindra (up 1.7%) and Infosys (up 1.64%) were the top 10 gainers among the constituents of NSE Nifty 50 index. China replies to Trump’s Tariff hikes Beijing is responding to President Donald Trump’s tariff hikes by pressing companies to find more non-US suppliers and customers. But there are few substitutes for the United States as a market and technology supplier, Associated Press said in a report. China has canceled purchases of U.S. soybeans, leaving food processors and animal feed sellers scrambling to fill the gap, it added. Breaking | Anil Ambani’s RCom completes sale of fibre assets to Mukesh Ambani’s Jio Anil Ambani’s telecom company RCom (Reliance Communications) on Monday announced the completion of the ‘sale of fibre assets and related infrastructure assets’ to Mukesh Ambani’s Reliance Jio Infocomm. The size of the asset sale was Rs 3,000 crore. RCom shares were trading little changed, up 0.58% at Rs 19.2 on BSE. The stock of Reliance Communications today opened at Rs 19.48, up 2.04% from the previous closing of Rs 19.09. “With successful completion of the Fibre monetization transaction, 1,78,000 Kms fibre stand transferred to RJio,” Reliance Communications said in an exchange filing. LIC Housing Finance slips 7% Shares of the Mumbai-headquartered housing financier LIC Housing Finance slipped 7% on Monday after the company reported an 18% rise in standalone net profit to Rs 568 crore for the Apr-Jun period of the financial year 2018-2019. The stock of LIC Housing tanked 7.09% to a day’s low of Rs 531 on BSE on Monday. Notably, LIC Housing shares were the biggest losers among the components of ‘A’ group of BSE. LIC Housing share price lost about Rs 40 from the previous closing price of Rs 571.5 after opening Rs 20 lower at Rs 551 on BSE today. Asian stock markets rally Asian stocks rose on Monday as a dovish speech by US Federal Reserve Chairman Jerome Powell and all-time highs on Wall Street gave markets a breather from trade tensions, an Associated Press report said. Japan’s benchmark Nikkei 225 index added 0.7% to 22,759.53, South Korea’s Kospi rose less than 0.1% to 2,293.67, Hong Kong’s Hang Seng jumped 1.9% to 28,191.43, the Shanghai Composite rebounded 1.2% to 2,760.86, it added. Reliance Naval cracks 5% after Anil Ambani resigns as director Shares of Reliance Naval and Engineering fell 5% on Monday following the resignation of Anil Dhirubhai Ambani. The stock of Reliance Naval and Engineering dipped 4.99% to a day’s bottom of Rs 15.42 on BSE. “Anil D Ambani has resigned as director of the company with effect from August 25, 2018, in compliance with provisions of Section 165 of the Companies Act, 2013, prescribing the limit on directorships to only 10 public companies, Reliance Naval and Engineering said in an exchange filing on Saturday, 25 August 2018. Sensex, Nifty: Levels check Intraday all-time highs: Sensex: 38,617.27, up 365.47 points | Nifty: 11,660, up 102.9 points | Nifty FMCG: 32,730.95, up 345.4 points Rupee jumps 20 paise vs USD The Indian rupee appreciated by 20 paise to 69.71 against the US dollar in early trade today on increased selling of the US currency by exporters amid a higher opening of the domestic equity market, PTI reported. Currency traders said weakness in the dollar against major global currencies overseas after comments from the Federal Reserve Chairman in support of a gradual approach to raising rates, supported the rupee, the report added. Earlier on Friday, the rupee added 20 paise to close at 69.91 against the US dollar after recovering from day’s low. Sensex, Nifty log fresh record highs The domestic stock markets extended gains within minutes after opening higher on Monday with BSE Sensex and NSE Nifty hitting fresh all-time highs. The 30-share barometer Sensex added as much as 311.49 points to book a new record high at 38,563.29 and NSE Nifty surged 92.7 points to hit a new lifetime peak at 11,649.8. Shares of HDFC Bank, Reliance Industries, ICICI Bank, HDFC, SBI, Infosys, Kotak Mahindra Bank, ITC, Yes Bank and Axis Bank emerged as the biggest positive points contributors in the upsurge of benchmark Sensex index. On a collective basis, heavyweight shares of RIL, HDFC Bank and ICICI Bank added more than 100 points to BSE Sensex. Opening bell Indian equity markets started on a positive note on Monday following the uptick in the Asian markets in the early session with BSE Sensex rallying more than 200 points and NSE Nifty retaking 11,600-mark. The benchmark Sensex opened at 38,472.03, up 220.23 or 0.58% and NSE Nifty opened at 11,605.85, up 48.75 points or 0.42%. Shares of HDFC Bank, Vedanta, Adani Ports, SBI, Tata Steel and Tata Motors were the top gainers. Sensex last week: From 20 to 24 August 2018 SGX Nifty tops 11,670 The global indicator of India’s benchmark NSE Nifty index, SGX Nifty Futures topped an intraday high at 11,670.5 in the early morning deals on the Singapore Exchange on Monday and was presently trading at 11,660.5, up 0.39%. The gauge has made an intraday low of 11,629 earlier today.

Sensex added 442.31 points or 1.16% to close at an all-time high 38,694.11. NSE Nifty crossed 11,700 mark for the first time ever in stock market history. a sustained uptick in the heavyweight shares of Infosys, ICICI Bank, Reliance Industries, SBI, ITC, Kotak Mahindra Bank, L&T, HDFC Bank, IndusInd Bank, HDFC and Axis Bank steered the headline

Positive

https://www.moneycontrol.com/news/business/jspl-receives-regular-rail-supplier-status-from-indian-railways-6283641.html

Jindal Steel & Power | Company gets 'regular supplier' status from Indian Railways to supply 60kg 880 grade (90UTS) Rails. Jindal Steel and Power Ltd (JSPL) on Tuesday said it has received the 'regular rail supplier' status from the Indian Railways. In a statement, JSPL said it has become the first private company in India to be awarded the 'regular supplier' status from the national transporter. "JSPL becomes India's first private company to get 'regular supplier' status from Indian Railways to supply 60 kg 880 grade (90UTS) rails," it said. Now, the Railways, its subsidiary/subsidiaries and track laying contractors can source 60 kg 880 grade (90UTS) rails manufactured by the company and utilise them for their ongoing and upcoming projects, JSPL said. JSPL share price rises 3% after company reported robust production in November The Research Designs and Standards Organisation (RDSO), which works under the ambit of the Railway board, has approved field performance of 60 kg 880 Grade (90 UTS) rails made by JSPL at its Raigarh plant, the company statement said. The Railway's board has accepted the field performance test report of RDSO and considered 60 kg 880 grade (90 UTS) rails are suitable for use in Indian Railways, it added. In the statement, JSPL Managing Director V R Sharma said, "We are happy that the Indian Railways has awarded the regular supplier status to JSPL which made 60 kg 880 grade (90UTS) rails." He added that it would be a big push towards an Atmanirbhar Bharat and it is a good achievement for our Rail business. "We thank RDSO and the Ministry of Railways for field performance approval of UIC 60 kg, 880 Grade prime (Class-A) rails of JSPL." Apart from 60 kg 880 grade, JSPL has also started supplying 1080 grade head hardened rails and 880 grade prime (Class-A) rails to several metro rails projects in India. These include Rail Vikas Nigam Limited for the construction of the Kolkata Metro Rail Project and Pune Metro. While 1080 HH grade rails used in high-speed freight corridors and metro rail projects, UIC 60 kg 880 grade prime (Class- A) rails are required in passenger tracks. In offshore markets, JSPL supplies special grade rail blooms to France Rail, Hayange in Europe. The company has also exported 2.5 lakh tonne of rails through Indian public sector undertakings (IRCON and STC) to customers in Bangladesh, Sri Lanka, and Africa, the company said.

JSPL is first private company in india to get'regular supplier' status.'regular supplier' status means it can supply 60 kg 880 grade (90UTS) rails. JSPL has also started supplying 1080 grade head hardened rails. JSPL shares rise 3% after company reported robust production in November.

Positive

https://www.businesstoday.in/latest/biz-eod/biz-eod-ril-counters-govt-petition-rinfra-wins-rs-1250-crore-arbitration-award-mandm-rejigs-auto-farm-divisions/story/392513.html

Mukesh Ambani-led Reliance Industries countered government's petition in the Delhi High Court seeking to impose non-payment of $3.5 billion in an international arbitral award of Panna-Mukta and Tapti production-sharing contracts case. Anil Ambani-led Reliance Infrastructure said it has won Rs 1,250 crore arbitration award against government-owned Damodar Valley Corporation. Mahindra & Mahindra announced further changes in its group corporate office and automotive and farm businesses, sectors, effective from April 1, 2020. Read for more top stories from the world of business and economy: 1. RIL counters govt's petition to recover dues in PMT profit dispute case; says no immediate liability RIL submitted the affidavit in response to the government's move to the Delhi HC, seeking to block RIL selling a 20 per cent stake in its oil-and-chemicals business to Saudi Aramco for $15 billion, in view of dues of $3.5 billion in the PMT oil and gas fields 2. Reliance Infrastructure wins Rs 1,250 crore arbitration award against DVC, share jumps 5% The arbitration tribunal awarded the case in favour of Reliance Infrastructure and directed DVC to pay Rs 896 crore and return the bank guarantees of Rs 354 crore within four weeks or pay additional interest, at the rate of 15 per cent annually, for any delay in payment beyond four weeks 3. M&M rejigs top brass in auto, farm divisions; Rajan Wadhera to step down In its Group Corporate Office (GCO), S Durgashankar will be assigned an enhanced role as Group Controller of Finance and Accounts. In auto and farm sectors, Veejay Nakra will be appointed CEO of auto division 4. Air India stake sale: Singapore, London roadshows receive lukewarm response from potential buyers The tepid response, however, is unlikely to delay the government's proposed privatisation plan schedule which is expected to conclude initial bidding documents for Air India by next month 5. CAA & NRC II: Here are the myths and facts about all-India national register of citizens In sharp contrast to the Assam NRC, identification process for "doubtful citizenship" or "illegal migrant" under the NPR and NRIC being prepared is not specific, leaving immense scope for arbitrariness and misuse- and all leading to targeting and filtering out the Muslims

reliance infrastructure wins arbitration award against government-owned damodar valley corporation. reliance says it has won Rs 1,250 crore arbitration award against government-owned damodar valley corporation. a tepid response is unlikely to delay the government's proposed privatisation plan schedule. a spokesman for the government says it is not aware of any changes in its corporate office.

Positive

https://economictimes.indiatimes.com/news/economy/agriculture/assam-to-set-up-100-farmers-producers-company-for-ramping-up-agricultural-production/articleshow/76268218.cms

GUWAHATI: Assam has decided to set up 100 Farmers’ Producers Company in the state for ramping up agricultural production, collection and ensuring linkage with the national and international markets.Chief Minister Sarbananda Sonowal today reviewed the functioning of agriculture department city and directed the Assam Seeds Corporation Limited to produce the seeds required by the state’s farmers in the state itself.In order to ensure supply of certified seeds to farmers, the Chief Minister instructed for setting up at least one seed distribution centre in every district. He also asked the department to prepare a detailed action plan for capturing the market of entire Northeast region along with the local markets.Sonowal instructed the Director of Assam Agribusiness and Rural Transformation Project to set up 100 Farmers’ Producers Company in the state for ramping up agricultural production, collection and ensuring linkage with the national and international markets.Youths must be attracted towards farming to achieve the target of ‘Atma Nirbhar Assam’ while adopting latest scientific innovations in the agricultural practices, he said. Opining that a large pool young people could be engaged in the agricultural sector as each company would employ 500 people, Sonowal said that these companies would be instrumental in streamlining linkage with national and international markets.The Chief Minister also directed the agriculture department to provide a combined harvester to each of the 126 assembly constituencies in the state so that farm mechanization activities can be augmented. Notably, the harvester covers three bigha lands per hour along with helping in threshing of paddy.The director of horticulture department apprised the Chief Minister that the state could a earn a total of Rs 357 crore during the 70 days of lockdown period by exporting vegetables to other states apart from fulfilling own requirement.Directing the department to motivate the progressive farmers showing exemplary performance in horticulture production, Sonowal instructed the agriculture department to tie up with Assam Start-up Incubation Centre to provide better market linkage to the farmers to sell their products. During today’s meeting, the issues of tractor distribution under CMSGUY, Fasal Bima Yojna, providing shallow tube-wells etc were also discussed.Sonowal stated the sector held immense potential to revitalize the state’s economy in the post COVID-19 scenario and economic advisory committee constituted for the purpose had also suggested rapid development of the sector. He also stressed on the need for better coordination among agriculture related departments apart from dedication of state’s farmers to capture world market with Assam’s farm products.

chief minister Sarbananda sonowal directed the assam seeds corporation to produce the seeds required by the state's farmers. he also instructed the department to prepare a detailed action plan for capturing the market of entire Northeast region along with local markets. the department will provide a combined harvester to each of the 126 assembly constituencies in the state so that farm mechanization activities can be augmented.

Positive

https://www.moneycontrol.com/news/technology/auto/groupe-psa-joins-hands-with-gomechanic-to-bring-eurorepar-product-line-in-india-5900131.html

European auto major Groupe PSA on Tuesday said it has launched Eurorepar range of multi-brand aftermarket products in India in partnership with car servicing startup GoMechanic. PCA India, the local entity of Groupe PSA, has inked a sales and distribution agreement with GoMechanic which works with a network of workshops, spare part retailers and also has an e-commerce technology platform. Eurorepar is Groupe PSA’s multi-brand parts and accessories range for the repair and maintenance of vehicles. "With GoMechanic as partner, we are going to offer various kinds of automotive products to all kinds of passenger vehicles in the country,” Groupe PSA Senior Vice President, Sales and Marketing India Roland Bouchara told PTI. As per the agreement, PCA India will provide the Eurorepar parts to GoMechanic, who will then distribute the parts through its warehouses and parts distribution logistics platform to all the workshops and retailers within its network. Groupe PSA will provide support in terms of marketing, training, brand building, besides providing a very strong product range. "We believe Eurorepar is the best alternative for Indian customers, who are looking for spare parts at smart prices and are not necessarily eager to spend a higher price for premium aftermarket brands,” Bouchara said. Despite the challenges posed by the COVID-19 pandemic, the automaker has gone ahead with launch of Eurorepar in India, he added. The business vertical has been launched in the country before the introduction of company’s first model C5 Aircross SUV in first quarter of next year, Bouchara noted. The company would initially start with products like brake pads and the range will expand progressively to include multiple product lines like wiper blades, filters (air, oil and fuel), brake discs, coolant, grease and lubricants. This decision to launch Eurorepar in India has to be analysed in the framework of PSA Aftermarket’s global strategy, which exists to fulfil all customers’ aftersales expectation worldwide regardless of their purchasing power and the make and age of their vehicle,” Groupe PSA Independent Aftermarket Business Unit Senior Vice President Jean Christophe Bertrand said. India is a key piece in Groupe PSA’s 'Push to Pass’ strategy for global markets and it presents an incredible opportunity to showcase Groupe PSA’s customer centric approach for all its brands, he added. "Our decision to partner with GoMechanic is based on our common goal, which is to provide high quality and value to all customers. We believe this strategy will help us both establish Groupe PSA more firmly in India and conquer a large customer base,” Bertrand said. Eurorepar is currently present across 100 countries across the globe and offers products for three or more year old vehicles. "This partnership bodes well for us as we strive to provide superior quality service and parts at an affordable price to our customers. This could not have come at a better time as we are rapidly expanding our service centres in the country. With our 350 plus workshops and a robust spare parts distribution network, we are confident that we can help scale Groupe PSA’s aftermarket business in no time,” GoMechanic Cofounder Amit Bhasin said. This could not have come at a better time as we are rapidly expanding our service centres in the country. "With our 350 plus workshops and a robust spare parts distribution network, we are confident that we can help scale Groupe PSA’s aftermarket business in no time,” GoMechanic Cofounder Amit Bhasin said. GoMechanic is present across 21 cities in India and currently services over 20 lakh cars annually and is targeting one crore customers by next year. Groupe PSA is Europe’s second-largest carmaker after Volkswagen. It sells three brands – Peugeot, Citroen and DS Automobiles.

groupe PSA has launched its multi-brand aftermarket products in india. it has inked a sales and distribution agreement with car servicing startup goMechanic. the company will provide the parts to goMechanic, who will then distribute the parts through its warehouses and parts distribution logistics platform. the business vertical has been launched in the country before the introduction of company’s first model C5 Aircross SUV in first quarter of next year.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-12-things-that-will-decide-stock-action-on-friday/articleshow/77132823.cms

Check out the candlestick formations in the latest trading sessions ETMarkets.com NEW DELHI: Nifty ended above the 11,200 level on Thursday forming a bullish candle on the daily chart. With this, the index is now trading above all its key moving averages, and there is no indication of weakness anywhere.Vinod Nair of Geojit Financial Services said liquidity seems to be driving up the market. Every dip is getting bought into and they are being short-lived, especially in the current mood of the market, which is overlooking all the negatives.Ajit Mishra of Religare Broking said the market is currently riding high on better-than-expected earnings and upbeat global markets . “Considering the momentum, Nifty might test the 11,350 level soon. Traders should align their trades accordingly, but we suggest preferring hedged trades,” he said.Chandan Taparia of Motilal Oswal Securities said support for Nifty50 is gradually shifting higher. “The index has been respecting its rising support trend line by connecting all the recent swing lows. It is also holding above its 200-day EMA. As long as Nifty holds above 11,100 level, it could extend its momentum towards 11,333 and 11,500. Supports for the index are now seen at 11,050 and 11,000 levels," he said.The S&P 500 struggled for direction on Thursday, following four straight days of gains as investors held out for a new coronavirus relief package, with latest data showing signs that a recovery in the labor market was stalling. The Dow Jones Industrial Average was down 51.44 points, or 0.19%, at 26,954.40, the S&P 500 was up 1.32 points, or 0.04%, at 3,277.34. The Nasdaq Composite was up 6.20 points, or 0.06%, at 10,712.33.European shares climbed on Thursday, as investors brushed off simmering U.S.-China tensions and focused on better-than-expected earnings reports from companies such as Unilever, Daimler and Publicis. The pan-European STOXX 600 index rose 0.7%Nifty50 resumed its upward trend on Thursday, negating a ‘Hanging Man’ candle formed on the previous day, which required follow-through selling. The index made a higher highs and lows and the consolidation range of 10,900-11,250 has remained intact. Analysts said supports are moving higher gradually, but Nifty is facing hurdles at higher levels.India VIX fell 0.96 per cent to 24.64. Overall lower volatility is supporting the bullish scenario, and every intraday decline is getting bought into. Options data suggested a shift in trading range between 11,000 and 11,400 levels.Momentum indicator Moving Average Convergence Divergence (MACD) on Thursday showed bullish trade setup on the counters of SBI, GMR Infrastructure, National Fertilizers, Indraprastha Gas Ltd, BEML, Dilip Buildcon, SMS Pharmaceuticals, Natco Pharma, Nelco, Can Fin Homes, City Union Bank, HSIL, Time Technoplast, Hikal, Mirza International, Archidply Industries, Essel Propack, Jayshree Tea, Eicher Motors, Indian Hume Pipe, Gulf Oil Lubricants, JK Cement, Career Point, Precision Wires, M Forgings, Schaeffler India and Vardhman Holdings, among others.The MACD showed bearish signs on the counters of Jindal Steel & Power, Hindustan Unilever, Tata Steel BSL, Hero MotoCorp, Sadbhav Engineering, Kaveri Seed Company, Gateway Distriparks, Aditya Birla Money, eClerx Services, L&T Technology Services, Gulshan Polyols, Ramco Industries, Timken India, Mahindra Logistics, Hinduja Global Solutions, Chemfab Alkalis, TCPL Packaging, DIC India and Tainwala Chem. Bearish crossover on the MACD on these counters indicated that they have just begun their downward journey.RIL (Rs 5479.32 crore) , Bajaj Finance (Rs 2865.95 crore) , Rossari Biotech (Rs 2585.33 crore) , Axis Bank (Rs 1870.69 crore) , BPCL (Rs 1693.76 crore) , ICICI Bank (Rs 1458.24 crore) , SBI (Rs 1386.77 crore) , Infosys (Rs 1183.84 crore) , HDFC Bank (Rs 1141.21 crore) and ZEEL (Rs 1060.96 crore) were among the most active stocks on Dalal Street on Thursday in value terms.YES Bank (shares traded: 45.19 crore) , Vodafone Idea (shares traded: 23.16 crore) , SBI (shares traded: 7.08 crore) , Uttam Value Steel (shares traded: 6.54 crore) , ZEEL (shares traded: 6.52 crore) , Federal Bank (shares traded: 4.62 crore) , Indian Oil Corp (shares traded: 4.49 crore) , Axis Bank (shares traded: 4.02 crore) , ICICI Bank (shares traded: 3.78 crore) and BPCL (shares traded: 3.65 crore) were among the most traded stocks in the session.RIL, Natco Pharma, Laurus Labs, PI Industries and Granules India witnessed strong buying interest from market participants as they scaled their fresh 52-week highs on Thursday signalling bullish sentiment.Aarti Surfactants, B.C. Power Controls, Borosil and Mittal Life Style witnessed strong selling pressure in Thursday’s session and hit their 52-week lows, signalling bearish sentiment on these counters.Overall, market breadth remained in favour of bulls. As many as 300 stocks on the BSE 500 index settled the day in green, while 195 settled the day in red.While abundant liquidity seems to be driving the markets and every dip is getting bought into, how should investors approach stocks now, especially when the market has been consistently overlooking the negatives?

Nifty ended above 11,200 level on Thursday forming a bullish candle. the index is now trading above all its key moving averages. there is no indication of weakness anywhere. the market is currently riding high on better-than-expected earnings. the pan-European STOXX 600 index rose 0.7%. the dow jones industrial average was down 51.44 points, or 0.19%, at 26,954.40.

Positive

https://economictimes.indiatimes.com/news/economy/policy/fresh-support-of-only-rs-12-13-lakh-cr-in-pm-modis-economic-stimulus-report/articleshow/75712578.cms

Mumbai: Of the Rs 20-lakh-crore package that Prime Minister Modi announced to defend the economy against COVID-19 disruptions, fresh support may be only around 60 per cent of the offer as it counts the first financial stimulus and liquidity support that Reserve Bank has given already, and will overburden bond market, says a report. In a big push to revive the COVID-hit economy, Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.Modi outlined a Rs 20-lakh-crore which is 9.7 per cent of GDP support package, of which new allocations could only be 50-60 per cent of the offer. But until more details are known, financing burden will fall on the bond markets, Radhika Rao, the economist at Singaporean lender DBS Bank said in a note on Wednesday.She further noted that "the new fiscal package is upsized and its scale lends a positive surprise, at a bigger-than-anticipated size with emphasis on making the economy more self-reliant via local manufacturing and improved supply chains".It can be noted that the government had in late March announced fiscal measures worth Rs 1.7 lakh crore while the RBI offered liquidity support of Rs 3.7 lakh crore in March and Rs 2 lakh crore in April."The new fiscal measures might account to around 60 per cent or Rs 12-13 lakh crore. If this includes a wider net of RBI measures, then the new package might amount to Rs 10 lakh crore," Rao said.She further said coordinated approach is needed to cushion a part of the after effects of the growth slowdown, which will impact incomes, jobs and business viability.The nuances of the measures are key, particularly details on how much is about short-term relief for Micro, Small & Medium Enterprises (MSMEs), sector-specific payouts, cash handouts to the poor, loan guarantees, capital infusion into banks, Mahatma Gandhi National Rural Employment Guarantee Act (MNEGRA) etc, and on medium-term priorities like infrastructure, labour/land reforms etc."This will dictate the extent of economic cushion to growth, incomes and employment outlook this year," she said.On the fiscal side, the report said revenue shortfall is already translating into an increase in deficit from budgeted 3.5 per cent to at least 5.5 per cent now. Assuming only part of the spending is reflected in the FY20 fiscal math and capital spending is scaled back, the deficit might rise by another 2.5-3 per cent of GDP.On the financing side of the package, the report said it will have to be seen whether bulk of it will be raised through borrowings especially whether the states will participate, or alternate sources like COVID-19 bonds, multilateral loans, tapping offshore investors/ markets, fresh revenue streams (indirect or income taxes on HNIs) etc."Until clarity is available, funding burden will fall on bond markets in the near-term and to stabilise markets, focus will return to RBI's participation," she said adding market borrowing is likely to rise further, by at least Rs 7-10 lakh crore assuming all is raised domestically and through bond issuances.But the report warns that the pressure will be on the Reserve Bank of India to step up bond purchases given the limited absorptive capacity of domestic investors and risk-averse foreign portfolio investors.

new: a report says the new fiscal measures might account to around 60 per cent. the package includes the first financial stimulus and liquidity support that the RBI has given. the package is 9.7 per cent of the GDP support package. the report says the package is upsized and its scale lends a positive surprise. the government has announced a package worth Rs 1.7 lakh crore.

Positive

https://www.moneycontrol.com/news/business/may-series-these-top-10-buys-can-offer-up-to-14-return-2559843.html

live bse live nse live Volume Todays L/H More × The Nifty ended April 27 expiry week closer to 10,700 levels, up 1.2 percent week-on-week. Given the current momentum on D-Street, the index is on track to hit 10,800-10,900 levels, experts said. “There was lot ambiguity among market participants after approaching the Nifty approached its strong resistance zone of 10,600-10,640. But, it managed to breakout post the April expiry. Sameet Chavan, Chief Analyst - Technicals and Derivatives at Angel Broking, sees the Nifty heading towards 10,750-10,800 levels in the short-term. “Despite some terrible days in the global market, our benchmarks managed to shrug off all these developments and displayed their independence. The recent hurdle placed around 10,640 has been crossed on a closing basis and thus we may see an extension of this move towards 10,750-10,800 in days ahead. On the lower side, the immediate base seems to have shifted higher towards 10,640-10,600 (earlier hurdle becomes support) from 10,495 levels.” Chavan advises traders to trade with a stock specific positive bias and look to lighten positions around 10,750- 10,800 levels. “One needs to keep booking timely profits and should rather shift stop losses higher at 10,640-10,600 levels.” We have collated a list of top 10 stocks which could give up to 14% return: Analyst: Sameet Chavan- Chief Analyst, Technicals and Derivatives at Angel Broking Wockhardt: BUY | Target: Rs 863 | Stop loss: Rs 793 | Return: 8.8% We remain upbeat on this stock with a near-term view. Post the January month correction, this stock slipped into a consolidation mode. Now, after three months, the stock prices burst through this congestion zone and thereby confirms a neckline breakout from the ‘Inverse Head and shoulder’ pattern. The volumes during this price action were almost thrice of its average daily volumes, indicating strong buying interest after the base building process. Thus, we expect the stock to extend this rally and eventually climb towards our near-term target of Rs 863. Traders can shift their stop losses to Rs 793. Bata India: BUY | Target: Rs 857 | Stop loss: Rs 763 | Return 8% Since the last couple of weeks, this stock has been consolidating in a small range. Last Friday, we witnessed a complete gush in the last couple of hours of the trade. The stock prices surged quite abruptly to confirm a breakout from the near term hurdle of Rs 791 on a closing basis. This was accompanied by humongous volumes, providing credence to this move. However, due to lack of follow up buying, the stock once again slipped into a consolidation mode. But, the overall structure still remains bullish. Hence, one can look to go long for a target of Rs 857 by following a strict stop loss below Rs 763. MCX India: BUY | Target: Rs 857 | Stop loss: Rs 763 | Return 8% Recently, this stock managed to give spectacular recovery after forming a strong base around the Rs 700 mark. If we combine, daily and weekly time frame charts, the stock seems to be on the verge of a breakout. The volume activity during Friday’s surge picked up substantially, indicating some sort of buying interest around its recent hurdle. Hence, with anticipation, one can look to go long for a target of Rs 857 by following a strict stop loss below Rs 763. Analyst: Dinesh Rohira, Founder & CEO, 5nance.com Gravita India: BUY | Target: Rs 220 | Stop loss: Rs 187 | Return 10% Gravita India witnessed a strong rebound in the last month after consolidating from earlier peak to take a crucial support at Rs 146 levels. Thereafter, it maintained to trade on uptrend trajectory. Last week it made a fresh peak on its daily price chart although it couldn’t to hold the level but signaled a positive breakout from its upper band. The scrip made a 12 percent gain on a weekly basis. The scrip formed a strong bullish candlestick pattern on its weekly price chart after forming a reversal pattern in past session. Further, a secondary momentum indicator witnessed a revival with weekly RSI level shifting upward at 68 coupled with positive cue intact on MACD. The support level for scrip is currently placed at Rs 177 and resistance level from the upper band at Rs 134. We have a buy recommendation for Gravita India which is currently trading at Rs 199.75 Prakash Industries: BUY | Target: Rs 237 | Stop loss: Rs 205 | Return 8% The scrip witnessed a health consolidation from Rs 256 levels towards Rs 168 levels on its daily price chart during past session before creating a reversal trend. The scrip took a strong support at lower band and continued to rebound on uptrend trajectory coupled with strong volume support. Further, it managed to break out from its crucial short-term EMA levels in the last session indicating a positive trend. On the daily price chart, after closing with about 4 percent intraday gain the scrip made a decent bullish candlestick pattern. The weekly RSI level at 62 coupled with positive divergence on MACD indicates a momentum for the scrip in coming session. The scrip has a support at 186 levels and resistance level at Rs 262. We have a buy recommendation for Prakash Industries which is currently trading at Rs 218.85. Rallis India: SELL | Target: Rs 206 | Stop loss: Rs 228 | Return 6% Rallis India continued to consolidate on its daily price chart despite making a decent attempt to recoup the loss but the selling pressure at higher level aided the price to breach below its crucial level placed at Rs 238. Further, during a closing session, the price got below its 20 and 50-days EMA levels indicating a negative signal. The scrip formed a solid bearish candlestick pattern on its weekly price chart after breaching below 20-days EMA level indicating a sustained pressure. Further, the secondary momentum indicator continued to indicate negative signal with RSI at 38 levels coupled with bearish crossover just happening on MACD line. The scrip is facing a resistance at Rs 235 levels and support at Rs 198 levels. We have a sell recommendation for Rallis India which is currently trading at Rs 219 Analyst: Rohit Srivastava, fund manager – PMS Sharekhan by BNP Paribas PTC India: BUY | CMP: Rs 89.70 | Stop loss: Rs 86.70 | Target: Rs 102 | Return: 14% The daily chart of PTC India shows a ‘Three Wave’ correction after a Five Wave rise. The correction retraced nearly 78.6 percent of the rise, which proved to be a crucial support. The daily lower Bollinger Band also offered support. As per Elliott Wave Theory, PTC India is expected to form another set of a Five Wave rise from the current level. There is a high probability that the stocks will head higher from current levels and investors can initiate fresh positions on the long side. Piramal Enterprises: BUY | CMP: Rs 2635.80| Stop loss: Rs 2550 | Target Rs 2900 | Return: 10% Piramal Enterprise witnessed a multi-month correction from the highs of Rs 3070 registered in June last year. The correction looks over in the last month at the low of Rs 2275. Thereon the stock seems to have embarked on a fresh rally, which can last for several months. Thus the stock looks positive from short-term as well as medium-term perspective. It is moving up along with a rising trendline which is a positive sign for the bulls. The recent structure shows that the stock has consolidated above the trendline and has also broken out from the narrow range in which it was consolidating on the upside. Ceat: BUY | CMP: Rs 1559.85 | Stop loss: Rs 1508 | Target: Rs 1787 In terms of price patterns, Ceat is forming an ‘Inverted Head & Shoulders’ pattern, which is a bullish pattern. The pattern is spanning over several weeks so the implication of the pattern breakout is likely to be significant. Currently, the stock is forming right shoulder of the pattern. Hereon, it is expected to head towards the neckline and can eventually breakout on the upside. The risk-reward ratio at this level is very attractive to take a fresh long position. Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in ICICI Bank: BUY | Target: Rs 315| Stop loss: Rs 271 | Return 9.3% This counter appears to have resumed its up move after posting a short-term bottom at recent lows of Rs 275 levels. As momentum in broader markets is picking up with Bank Nifty also on the verge of a fresh breakout, this counter shall able to clear its immediate hurdle of Rs 295 with ease. Once that happens it can head towards its initial targets of Rs 315. In anticipation of such a breakout positional traders are advised to buy into this counter for a target of Rs 315 with a stop of Rs 271. Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

the Nifty ended April 27 expiry week closer to 10,700 levels, up 1.2 percent week-on-week. given the current momentum on D-Street, the index is on track to hit 10,800-10,900 levels. analysts say the stock is on track to climb towards our near-term target of Rs 863. a total of 69 stocks are trading at a price of Rs 850.

Positive

https://www.financialexpress.com/budget/budget-2020-need-for-comprehensive-ipr-policy-to-stimulate-innovation-in-startups-small-businesses/1820510/

By Dinesh Jotwani Union Budget 2020 India | Ease of Doing Business for MSMEs: The second term of Prime Minister Modi hit a glorious record for the Indian economy: $5 trillion in value. A major driver of this growth? The over 40,000 startups in India that generated $130 billion between January 2014 and September 2018. Home to over 27 “unicorns” (billion-dollar startups), India has the third-largest startup ecosystem in the world – a direct result of stronger Intellectual Property (IP) laws to promote, secure, and incentivize innovation. IP laws, a crucial tool to encourage economic growth and individual effort, are a set of rules that provide legal protection to an investor and inventor’s labour alike. With stronger IP laws comes greater partnership between an investor and the government to build trust, strengthen small and medium-sized businesses, and fuel greater FDI. The good news is that the present government understands the importance of small businesses and startups to economic growth. Through programs like “Startup India”, a corpus of 10,000 crores was instituted to raise seed funding for startups. In another dramatic transformation of the regulatory environment, the National IPR policy “recognizes the abundance of creative and innovative energies that flow in India, and the need to tap into and channelize these energies towards a better and brighter future for all.” To build on this, the government must strengthen the following initiatives in the budget to support startups, small businesses and their IP: A comprehensive National IPR policy to stimulate innovation and creativity across sectors, A professional Cell for IPR Promotion and Management (CIPAM)to ensure effective implementation of the National IPR Policy, IPR Awareness Programmes (Pilot): As a pilot project, the government seeks to campaign across 18 states in the country to inspire budding startups to acknowledge the importance of IP in securing their merit and building their brand. As things stand, the government is inching toward building a holistic environment wherein originality is rewarded. However, there is still a long way to go before India becomes a nexus for robust IP mechanisms driving innovations. Let’s look at some of the challenges which act as a roadblock for emerging businesses. The Case of Pharmaceuticals: What IP Means to Innovation in Pharma Sector The government is, so far, working to reduce compliance burdens— the next iteration of Startup India, even, calls for a blend of industry and consumer-centric policies to make our startups globally competitive. But in the pharmaceutical sector, obtaining a patent and legal certainty for a product still requires a huge investment of time and money. Adding to the complexity: the government’s conservative view toward interdisciplinary research that could solve ever-more-complex disease profiles. In short, pharmaceutical products developed as a result of incremental innovation find it extremely difficult to secure patent protection in the IP ambit – why? Watch Video: What is Union Budget of India? Take, for instance, section 3(d) of the Indian Patents Act 1970. Under this law, if a drug startup invests in the efficacy of an existing formulation, it still wouldn’t qualify for legal protection – the current law does not interpret “enhanced efficacy” in a holistic manner and does not grant IP protection to such products. The clause 3(d) hurts up and coming startups as “The mere discovery of any new property or new use of a known substance or mere use of a known process, machine or apparatus unless such known process results in a new product or employs at least one new reactant…” A case in point — a pharmaceutical startup improves a drug’s efficacy by increasing its bioavailability (or absorption by the body). The new formulation requires the dosage to be orally administered where the previous drug required mucosal administration. Under the existing set of rules, the new formulation does not qualify for a patent since the healing effects “remain the same.” The effects are far-reaching. One, it grinds biopharmaceutical innovations to a halt and adversely affects patient outcomes. Second, the manufacturer loses faith in the system. With no legal protection, their products cannot be shielded from other manufacturers wanting to copy and market a successful formula under their own brand name. Third, the narrow interpretation of the concept “enhanced efficacy”, accelerates the rampant spread of substandard drugs, nullifying the objective of achieving quality health services. The Way Forward While critics of a robust IP framework view the provision of basic legal protections a daunting task, let’s not forget that IP is an important factor in stimulating the growth of both small business and national economy. And, the road ahead requires the continued dedication from the government, the effects of fixes to India’s IP system have already begun to show results – some $130 billion’s worth. With venture capitalists and angel investors realizing the potential of patent rights, the future appears bright. (Dinesh Jotwani is an Advocate at the Supreme Court of India. Views expressed are the author’s own.)

over 40,000 startups in india generated $130 billion between 2014 and 2018. india has the third-largest startup ecosystem in the world. government must strengthen initiatives to support startups, small businesses and their IP. a comprehensive national IPR policy to stimulate innovation and creativity across sectors. but there is still a long way to go before India becomes a nexus for robust IP mechanisms driving innovations.

Positive

https://economictimes.indiatimes.com/markets/ipos/fpos/indostar-capital-finance-sets-ipo-price-band-issue-opens-on-may-9/articleshow/64003276.cms

Non-banking finance company IndoStar Capital Finance on Wednesday set the price band for forthcoming initial public offering at Rs 570 to Rs 572 per share. The Rs 1,844-crore issue will hit Dalal Street on May 9 and end on May 11.The issue of Everstone Capital-backed NBFC will comprise a fresh issue aggregating up to Rs 700 crore and an offer for sale (OFS) of up to 2,00,00,000 equity shares. At the upper limit of the price band, the OFS amounts to Rs 1,144 crore. The anchor investor allocation will take place on May 8.The company intends to primarily utilise the net proceeds of the fresh issue for augmenting its capital base to meet future capital requirements.Promoters intends to sell up to 18,508,407 equity shares, while other shareholders in the NBFC's will offer up to 1,491,593 equity shares in the OFS.Current shareholders include Everstone Capital, Beacon India Fund, ACPI Investment Managers and CIDB Capital.The company had filed IPO papers with Securities and Exchange Board of India (Sebi) in January and received "observations" from the regulator on April 3, as per the latest update with the markets watchdog. JM Financial , Kotak Mahindra Capital Company, Morgan Stanley India Company, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) Pvt Ltd will manage the company's public issue.IndoStar Capital Finance offers structured term financing solutions for corporates, and loans to small and medium enterprise borrowers in India.It has recently expanded its portfolio to offer vehicle finance and housing finance products.The housing finance business is operated through company’s wholly-owned subsidiary IndoStar Home Finance, which commenced operations in September 2017.

the issue of the non-banking finance company will hit Dalal Street on may 9 and end on may 11. the company intends to primarily utilise the net proceeds of the fresh issue for augmenting its capital base to meet future capital requirements. the anchor investor allocation will take place on may 8. the company had filed IPO papers with Securities and Exchange Board of India (Sebi) in January and received "observations" from the regulator on April 3.

Positive

https://www.financialexpress.com/money/important-things-to-look-at-while-buying-health-insurance-for-your-parents/2086363/

It is imperative for us to get covered by health insurance, especially during this time. More importantly, if your elderly parents are not covered under a policy, it is time to get them insured. Rakesh Goyal, Director of Probus Insurance, says, “Having a health cover ensures that your parents get the finest treatment during medical emergencies without the need of financial worries. Considering the age factor, your parents are more vulnerable to various health issues or illnesses, and getting a high insured plan for them can make the treatment process relaxing without any financial constraints.” Most salaried people usually depend on their employer-provided health plans, and do not get an additional health plan. Hence, after retirement, these people are left without a separate health cover. But it is important for the retired and the senior citizens to get covered by a policy, especially because they are the ones with high chances of getting a host of health problems. Additionally, with the steep rise in healthcare costs, without a health insurance policy, it could leave a hole in your pocket. While buying a policy, note that if your parents have any kind of pre-existing diseases, then those diseases would also be covered after a specific period (waiting period). This would help you to save on the heavy expenses on the treatment of these pre-existing diseases, post the waiting period. The waiting period varies from insurer to insurer. Also, there are certain health insurance plans that not just cover the hospitalization charges but also cover various other expenses such as medicines, tests, periodic health check-ups, ambulance costs, day-care surgeries, etc. This coverage definitely adds some ease to your pocket. You also enjoy tax benefits wherein the health insurance premium that you pay for your parents is qualified for deduction under Section 80D. Things to consider while buying a policy Factors that one must consider while looking for a health insurance policy is selecting the right insurance amount, checking the network hospitals, seeing if the coverage is adequate as per the age of the family members, understanding the waiting period (if any). Goyal adds, “One must also research on the claim settlement history of the insurer (from where the policy is to be purchased). Also, check if the plan comes with other additional factors such as maternity benefits, free medical check-ups, No Claim Bonus (NCB), co-payment option, etc.” Points to consider while choosing the right policy:

elderly parents are more vulnerable to various health issues or illnesses. without a health insurance policy, it could leave a hole in your pocket. some plans cover hospitalization charges, tests, ambulance costs, day-care surgeries. if your parents have any kind of pre-existing diseases, those would also be covered. a policy can also cover maternity benefits, free medical check-ups, no claim bonus.

Positive

https://economictimes.indiatimes.com/wealth/borrow/rbi-allows-3-month-extension-of-loan-emi-moratorium-should-you-opt-for-it/articleshow/75888773.cms

ET Online Giving more breathing room to borrowers repaying loans the Reserve Bank of India (RBI) on May 22, 2020 announced an extension of the previously announced three-month term loan EMI moratorium by another 3 months to August 31, 2020. The central bank, in March had announced a three-month EMI holiday from March 1, 2020, till May 31, 2020 on all term loan repayments like auto, home, personal loan EMIs and so on.This extension is especially a big relief for home loan borrowers facing a cash crunch due to the nationwide lockdown and its associated adverse financial impact on the economy.So, if you are a home loan borrower who opts to avail of the moratorium extension by 3 months and thereby take a total moratorium of six months, this is how it will impact your EMI schedule and total outgo on the loan amount.If you opt for the moratorium extension, you need not pay the EMIs for 6 months i.e. March, April, May, June, July and August. However, this does not mean that the six months' EMIs have been waived. It is only a grace period. You will have to continue paying the accrued interest on the loan EMIs (Equated monthly instalments) for these six months.If you opt for the moratorium on EMI payments, then banks are likely to give you three options:a) Make one-time payment of the accrued interest payable at the end of moratorium period;b) Add the accrued interest to the outstanding loan and pay the same by increasing the amount of EMIs to be paid for the rest of the loan tenure.c) Add the accrued interest to the outstanding loan and pay the same amount of EMI for a longer tenure thereby paying back the full amount.Let us take the example of a borrower who has taken a loan of Rs 30 lakh with tenure of 20 years paying 8 per cent per annum as interest rate. He pays an EMI of Rs 25,093.Source: Myloancare.inLet see now, what happens to this borrower's repayment schedule under different scenarios if he opts for the six-month moratorium.If the borrower has five years left on the home loan, then the interest that gets accumulated due to the six-month EMI moratorium will be Rs 49,500. If the borrower opts for option (a), i.e., making a one-time interest payment, then he will have to pay Rs 49,500 at the end of the moratorium.However, if he opts for a higher EMI outgo for the remaining tenure, then in such a scenario, the new EMI amount works out to be Rs 26, 097, an increase of Rs 1,004 in EMI.If the borrower decides to extend the tenure of the loan while keeping the amount of EMI payments constant, his loan tenure will get extended by two months.If the borrower in the example has 10 years of loan repayment tenure left, then in such a scenario, the interest due at the end of moratorium will be Rs 82,728.If the borrower opts to hike the EMI amount after the moratorium period is over, then the EMI amount increases by Rs 1,004 to Rs 26,097 for the remainder of the loan tenure. If he chooses to increase the loan tenure to pay off the interest accrued during the moratorium period, then it will get extended by three months.If there are 15 years left in the loan tenure, then in such a scenario, the interest due at the end of moratorium will be Rs 1.05 lakh. The borrower can choose to repay this interest amount at the end of moratorium period.However, if he chooses to go for an EMI hike after the moratorium period, then here also the EMI comes to be Rs 26,097 (an increase of Rs 1,004). If the tenure extension is opted for, then the loan tenure get will extend by four months.

the reserve bank of india has extended the three-month term loan EMI moratorium. the extension is especially a big relief for home loan borrowers facing a cash crunch. if you opt for the moratorium extension, you need not pay the EMIs for 6 months. if you opt for the moratorium extension, banks are likely to give you three options.

Positive

https://www.livemint.com/market/stock-market-news/sensex-nifty-live-today-17-11-2020-nifty-nse-bse-news-updates-11605580180958.html

Sensex ends at record high led by banks, gains 314 pts; Nifty closes at 12,874 12 min read . Updated: 17 Nov 2020, 03:48 PM IST Sensex gained 314 points to end at record high of 43,952 after crossing 44,000 in early session, while Nifty closed at 12,874. Tata Steel was the leader in the metals pack, gaining 6%

Sensex ends at record high led by banks, gains 314 pts; Nifty closes at 12,874 12 min read. Sensex ends at record high led by banks, gains 314 pts; Nifty closes at 12,874 12 min read. Sensex ends at record high led by banks, gains 314 pts; Nifty closes at 12,874 12 min read.

Positive

https://www.livemint.com/news/india/fdi-equity-inflows-into-india-cross-usd-500-bn-milestone-11607262840277.html

New Delhi: Foreign direct investment (FDI) equity inflows into India crossed the USD 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world. According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the period stood at USD 500.12 billion. About 29 per cent of the FDI came through the Mauritius route. It was followed by Singapore (21 per cent), the US, the Netherlands, Japan (each 7 per cent), and the UK (6 per cent). India received USD 144.71 billion from Mauritius and about USD 106 billion from Singapore during the period under review. The other big investors have been from Germany, Cyprus, France and Cayman Islands. Since 2015-16, FDI inflows have been recording significant growth. In that fiscal, the country received USD 40 billion FDI, an increase of 35 per cent over the previous year. In 2016-17, 2017-18, 2018-19 and 2019-20, the investments stood at USD 43.5 billion, USD 44.85 billion, USD 44.37 billion and USD 50 billion, respectively. The key sectors which attracted the maximum of these inflows include services segment, computer software and hardware, telecommunications, trading, construction development, automobile, chemicals, and pharmaceuticals. "Indian FDI journey began with enactment of FEMA (that replaced the draconian FERA) in 1999. Looking back, the half-trillion dollar FDI in India is an indication of foreign investor's firm belief in India's strong economic fundamentals, stable political outlook and sustained economic growth which generated returns for investors even during the global recession of 2007-08," Nischal Arora, Partner- Regulatory, Nangia Andersen India said. He said as the country cautiously steps into the next decade under the shadow of the ongoing pandemic, it is imperative that the government continues its measures to attract FDI in the manufacturing and high-end technology sectors. Rajat Wahi, Partner, Deloitte India, said FDI equity inflows crossing USD 500 billion "is indeed a great milestone, and continues to show the trust and faith that the global investors have in India's growing economy". This growth is a strong reflection of the market potential of India coupled with the steady state of market reforms that India has undertaken since 2000, including opening up of various sectors of the economy to 100 per cent FDI over the last 5 years, he said. When asked about what more steps the government can take to give a leg-up to increase FDI, Wahi said while the overall market potential of India will always be high, given the large population, many other factors like ease of doing business, land, labour laws, tax rates, availability of talent, logistics, and political stability also play important role in attracting FDI to any country. "While we have improved significantly across many of these areas over the last decade, and especially over the last 5 years, there is still a long way to go for us to be able to compete with countries like China and other markets like Vietnam, Thailand, and Malaysia," he added. However, Gunjan Shah, Partner, Private Equity, Merger & Acquisitions & General Corporate, Shardul Amarchand Mangaldas, said: "I would not attribute this (crossing USD 500 billion mark) to increased investor confidence in the Indian market. There is a lot of liquidity around the world right now and the real test would be to see if a higher proportion of that is being deployed in India." Shah said clarity on regulatory and tax issues could help increase FDI and the government should also consider further liberalisation of capital intensive industries like banking and insurance. Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more. This story has been published from a wire agency feed without modifications to the text.

india received USD 144.71 billion from Mauritius and about USD 106 billion from Singapore. the country received USD 40 billion FDI in 2015-16, an increase of 35 per cent. key sectors which attracted the maximum of these inflows include services segment. the country is expected to be a key investment destination in the world. a u.s.-based company is also investing in the country.

Positive

https://www.businesstoday.in/current/economy-politics/cabinet-approves-setting-project-development-cells-to-attract-investment/story/405837.html

Union Cabinet has approved forming an Empowered Group of Secretaries and Project Development Cells in central ministries and departments to attract investment in India. These bodies will help various ministries and departments, as well as central and state governments coordinate on investment-related matters. "Government is determined to put in place an investment friendly ecosystem that strongly supports the domestic investor as well as FDI and will boost the economy manifold. DPIIT proposes strategic implementation of an integrated approach that will eventually bring about synergies between Ministries/Departments and among the Central and State Governments in our investment and related incentive policies," a statement from the Cabinet said. ALSO READ: Cabinet suspends bankruptcy proceedings against NPAs for six months The Empowered Group of Secretaries (EGoS) will be headed by the Cabinet Secretary, and will have CEO, NITI Aayog CEO, DPIIT Secretary, Commerce Secretary, Revenue Secretary, and Economic Affairs Secretary as members. Secretaries of other departments will also be co-opted in the group. This Empowered Group will work to bring synergies and ensure timely clearances from different departments and ministries to attract increased investments into India and handhold global investors. It will also facilitate investments of top investors in a targeted manner and to usher policy stability and consistency in the overall investment environment. ALSO READ: PM Modi cabinet meet: Centre amends Essential Commodities Act; other relief measures for farmers announced The EGoS will also evaluate investments put forward by the departments on the basis of their project creation and actual investments that come. Further, these departments would be given targets for completion of various stages by the Empowered Group. Meanwhile, a Project Development Cell (PDC) in every relevant central ministry will look after development of investible projects in coordination between the central government and state governments. This will help grow the pipeline of investible projects in India and in turn increase FDI inflows. Under the guidance of the Secretary, an officer not below the rank of Joint Secretary of each relevant central line Ministry, who will be in-charge of the PDC, will be tasked to conceptualise, strategise, implement, and disseminate details with respect to investable projects, the government statement said. ALSO READ: Cabinet allows farmers to sell produce directly to traders, retailers, food processors

Union cabinet approves forming an Empowered Group of Secretaries. these bodies will help various ministries and departments, as well as central and state governments. this will help attract increased investments into india and handhold global investors. the government says it is determined to put in place an investment friendly ecosystem. a project development cell will look after development of investible projects.

Positive

https://www.livemint.com/Money/lMcuPSHJco3WyoG8SzVZIN/How-to-set-spending-limits-on-your-debit-cards.html

British multinational investment bank and financial services company Barclays Plc. recently unveiled a new feature that allows customers to block spending through debit cards on certain categories by changing the settings on the bank’s mobile application. The feature will help account holders restrict themselves from overspending on groceries, shopping, or even curb addictive activities like gambling and drinking. “While restricting oneself from any kind of addiction completely depends upon the will power of the individual, but any constraint will aid restraining overspending," said Arun Ramamurthy, co-founder and director, Credit Sudhaar, an online finance and credit platform. Barclays is the first high-street bank which has adopted this measure for its customers. However, more banks and financial institutions could offer similar services in a few years considering how the number of people living in debt is gradually going up. “Given that India is a very large and highly competitive market and banks continue to introduce innovative offerings and features for better servicing, we can expect this feature to be available here in due course of time," said Ramamurthy. “The consumption pattern of Indian populace has experienced a sea change. Banks are introducing such features to help consumers manage their finances." If you have a Barclays debit card, you can use the bank’s mobile application to switch off spending by sliding the on-screen button for categories such as gambling, premium-rate websites and phone lines, restaurants, food outlets, pubs and bars, petrol and groceries. You can also visit a bank branch to activate this feature. It is not possible to block specific brands or retailers but on switching off a category, all retailers that fall under it automatically get blocked. For example, if you block the gambling category, you won’t be able to make payments on any gambling websites. Once you block a category, you will not be able to make payments for items under that category if you wish to use your Barclays debit card to make payments. View Full Image Though the feature allows you to switch off spending, all it would take for an account holder to allow it again is going back to the company’s mobile application and switching on the button for any category of spending they may have blocked. “The continued limitation on spending on certain types of expenses will need the accession of consumers’ will power. He will always have the authority to change the spending limits and would need to be prudent while approaching the change," said Ramamurthy. “The expenses for opting such a feature are something that one needs to be watchful and any fine prints that is a part of activating it." With more and more people making purchases and splurging on lifestyle expenses through credit and debit cards, it often becomes difficult to keep a tab on what and how much you are spending. “The pain associated with electronic spending is much lower than what is felt with spending cash, and thus these features are trying to enhance the pain associated with spending a wee bit," said Vishal Dhawan, founder, Plan Ahead Wealth Advisors. “There has been a clear shift in spending pattern among the younger generation," said Varun Krishna, certified financial planner, International Money Matters. “Where our parents’ generation used to spend after sufficient saving, the new generation is doing the reverse simply because there is no control over expenses. This could put one in a really bad financial situation in the long run if attention is not paid." Barclays’ initiative could thus help vulnerable customers from getting trapped in a pool of debt, especially because of overspending in certain categories. According to CEIC Data Co. Ltd, a macroeconomic data provider, India’s household debt accounted for 10.2% of the country’s nominal GDP in March 2017, compared with 9.7 % in the previous year. Nominal GDP includes changes in price that occur in a year due to inflation or deflation. In March 2017, India’s household debt reached about $233 billion and domestic credit stood at $2,030 billion in September 2018, shows data compiled by CEIC. “It would certainly help individuals and families that do not budget their expenses and are prone to overspending. We see that overspending is not a challenge across Indians but some families are certainly susceptible," said Dhawan. While there are apps such as Wally, Monefy and Penny that help users track their expenditure, the concept of blocking expenses through debit cards is yet to enter India. “While which banks are exploring the options to extend such services may not be clear at this point in time, such features are bound to get introduced," added Ramamurthy. Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

barclays has unveiled a new feature that allows customers to block spending through debit cards on certain categories. the feature will help account holders restrict themselves from overspending on groceries, shopping, or even curb addictive activities like gambling and drinking. more banks and financial institutions could offer similar services in a few years considering how the number of people living in debt is gradually going up.

Positive

https://www.livemint.com/industry/manufacturing/growing-sales-of-tractors-may-not-propel-recovery-11595343471615.html

In June 2020, tractor sales within India jumped 22.5% to 92,888 units. In June 2019, 75,858 tractors were sold. Does this imply a revival in the rural economy as is being touted? Will the rural economy drive up the Indian economy in the months to come? Mint takes a look. What does a rise or fall in tractor sales signify? A jump in tractor sales essentially indicates that big farmers are doing well. Buying a tractor with an engine power of more than 30 horsepower costs ₹5 lakh or more, which is a lot of money for an average Indian farmer. As many as 99.9 million or nearly two-thirds of Indian farms, technically referred to as operational holdings, are marginal, meaning that they are less than one hectare (around 2.47 acres). The average size of a marginal farm is just 0.38 hectares, which is less than an acre. Hence, it is extremely difficult for an average marginal farmer to be able to buy a tractor worth lakhs. Does a jump in tractor sales signal revival? If we just compare June 2020 sales with June 2019 sales, it hints at a revival in the rural economy. However, what we need to take into account is that the period between April and June is the traditional season for tractor sales. The sales between April and June 2020 have fallen 13.7% to 1,65,156 units in comparison to last year. This is the lowest in four years. Hence, high sales in June might be nothing more than pent up demand, given the lockdown in April and May. Only if tractor sales numbers remain robust between July and September can we suggest a marginal revival in the rural economy. View Full Image Peak time What else can we conclude from rising tractor sales? Following the coronavirus-induced lockdown and disruption, tractor sales have not reduced as much as sales of other vehicles like two-wheelers and cars. This is mostly because the agriculture sector has not been as badly hit by the pandemic as the other sectors. Additionally, a good rabi crop harvest and a promising monsoon season helped drive the sales of tractors. Can agriculture rescue the economy this year? Agriculture is the only sector that is expected to grow this year. That is good news. However, it is important to note that the size of the sector, which includes forestry, and fishing as well, stood at just 13.4% of the overall economy in 2019-20. This is too small to rescue the whole economy. Also, the size of agriculture as a proportion of the economy has been shrinking over the years. As Arvind Panagariya writes in India Unlimited, in 2017-18, “the share of agriculture in the total rural workforce was 59.4%." What is the point being made here? As Panagariya, the first vice-chairman of NITI Aayog, puts it: “A significant part of improving the lives of today’s farmers lies in helping a large proportion of them to exit to more productive jobs in industry and services." Hence, while improving farm incomes is important and a growing agriculture sector helps further that aim, a few percentage points growth in the sector does not take away the problem of it employing too many people than is feasible. Vivek Kaul is the author of Bad Money. Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

in June 2020, tractor sales within India jumped 22.5% to 92,888 units. in June 2019, 75,858 tractors were sold. a jump in tractor sales essentially indicates that big farmers are doing well. a good rabi crop harvest and a promising monsoon season helped drive the sales of tractors. a soaring agricultural sector could be the key to a revival in the rural economy.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/bank-stocks-send-sensex-above-45k-for-1st-time-nifty-tops-13250/articleshow/79565232.cms

Bharti Airtel gains 3% as co pips Jio in subscriber addition after 4 years UltraTech Cement climbs 4% as co announces Rs 5,477 cr expansion plan Airliners rally up to 10% as govt revises cap on capacity Burger King IPO subscribed 141 times so far 274 stocks hit 52-week high: IndiGo, Infibeam, Escorts, Eclerx, Cadila, Indostar and Bharat Forge top names "Traders should not get carried away with the prevailing buoyancy and stick to quality names as we can’t ignore the possibility of an intermediate corrective phase" — Ajit Mishra, Religare Broking Loan growth data: RBI will also release loan growth, deposit growth and forex reserves data in the evening, to which the market may react on Monday. NEW DELHI: Buyers accumulated banks, along with select telecom and FMCG names, on Friday following bullish commentary from RBI about economic growth that took benchmark indices to fresh record highs.Talks of stimulus measures in the US also added to the momentum. Meanwhile, volatility plummeted sharply in the wake of vaccine approval in the UK, suggesting traders are less nervous now.The 30-share pack Sensex climbed over 45,000 level for the first time ever. The index settled at 45,079.55 after rising 446.90 points or 1 per cent. Its broader peer NSE Nifty climbed 124.65 points or 0.95 per cent to 13,258.55.Investors got richer by Rs 1.25 lakh crore as the total market cap of BSE listed firms rose to Rs 179.49 lakh crore.“With all the major events behind us, we feel global cues would dictate the market trend ahead. Besides, news related to COVID vaccines will also be in focus. Mostly rate-sensitive ended on strong footing and we may see follow-up buying next week,” said Ajit Mishra, VP - Research, Religare Broking.Among blue chip names, Adani Ports was the biggest gainer in Nifty, up 4.86 per cent. It was followed by ICICI Bank, Hindalco, UltraTech Cement, Sun Pharma, Bharti Airtel and SBI that added 3-5 per cent.Reliance Industries was the biggest drag on the index, falling 0.83 per cent. HDFC Life Insurance, Bajaj Finserv, BPCL, HCL Tech and Tata Motors were other losers.Broader market indices also gained but underperformed their headline peers. Nifty Smallcap added 0.36 per cent, while Nifty Midcap advanced 0.35 per cent. Nifty 500, the broadest index on NSE, rose 0.78 per cent.SpiceJet, Dilip Buildcon, Omaxe, Tata Chemicals, Edelweiss Financial Services and Page Industries were the top gainers from the mid and smallcap indices, rising in the range of 3-10 per cent.Dalmia Bharat, JSW Energy, Shriram Transport Finance, Vakrangee, Equitas Holdings and Heidelberg Cement were the major losers, falling in the range of 3-10 per cent.Sectorally, all indices registered gains. Nifty Bank was at the top of the list, rising 2.05 per cent. Nifty Pharma, Nifty FMCG and Nifty Metal were other indices that added over a per cent each.Market breadth was in favour of the gainers as 1,646 stocks ended in the green, while 1,249 names settled with cuts. As many as 274 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 31 names hit 52-week lows, mostly from the microcap space. About 405 stocks hit upper circuit limits and 182 lower circuit limits.European shares were trading mixed. FTSE was up 0.84 per cent while markets in France and Germany were up 0.35 per cent and down 0.01 per cent, respectively. Barring Nikkei and Jakarta Composite that ended in the red, all Asian markets closed with gains. Kospi was the biggest gainer, adding 1.31 per cent.

Sensex climbed over 45,000 level for the first time ever. adani ports was the biggest gainer in nifty, up 4.86 per cent. ICICI bank, Hindalco, UltraTech Cement, ICICI Bank, Sun Pharma, Bharti Airtel and SBI that added 3-5 per cent. bharti airtel jumped 4% as co announces Rs 5,477 cr subscriber addition.

Positive

https://www.moneycontrol.com/news/business/markets/new-york-order-spooks-wall-street-offsets-calm-from-policy-efforts-5057411.html

Wall Street retreated on Friday after New York ordered residents to stay home, rattling investors who had welcomed this week's fiscal and monetary measures to counter the coronavirus shock and help revive the safe-haven appeal of bonds and gold. Gold rose more than 3 percent at one point as it regained a bit of its flight-to-safety lustre and the yield on US Treasuries fell as emergency measures aimed at stabilizing financial markets briefly took hold after days of sharp volatility. The dollar staged a furious rally this week as investors scrambled to obtain cash, rising 4.32 percent in the biggest weekly gain since the 2008 financial crisis. The policy efforts helped staunch the steep nosedive in global equity markets. Stocks had gained on Thursday in less-tumultuous trade and were trading higher on Wall Street before New York Governor Andrew Cuomo said he would mandate all non-essential workers to stay home and all non-essential businesses close. Cuomo pleaded for more medical personnel and supplies to treat coronavirus cases that could overwhelm the hospitals in New York, a state of nearly 20 million. Cuomo's remarks "spooked people, it spooked the market," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "It's all fear, fear of more negative headlines." On Wall Street, the Dow Jones Industrial Average fell 913.21 points, or 4.55 percent, to 19,173.98. The S&P 500 lost 104.47 points, or 4.34 percent, to 2,304.92 and the Nasdaq Composite dropped 271.06 points, or 3.79 percent, to 6,879.52. US stocks had been poised for their first two-day gain since Wall Street tumbled from all-time highs in February to their sharpest decline in three decades. A top International Monetary Fund official said the impact of the coronavirus pandemic would be "quite severe" but the long expansionary period preceding it should help the global economy weather the shock. The Federal Reserve rolled out more emergency support as it enhanced efforts with other major central banks to ease a global dollar-funding crunch. It also backstopped a market essential for US state and local government finances and ramped up its purchases of mortgage-backed securities. Markets have been reassured by the speedy central bank action this week but the full fiscal response from governments remains to be seen and is critical, said Kristina Hooper, chief global market strategist at Invesco in New York. "The dash to cash we saw earlier this week has been relaxed a bit. Now Treasuries are once again perceived to be a safe-haven asset class," Hooper said. "That's good, as it suggests at least a dialling down of risk-off sentiment." Norway's central bank became the latest to cut interest rates, while China was set to unleash trillions of yuan of fiscal stimulus to revive its economy. The dollar eased after currencies, from the Australian dollar to the British pound, tumbled to multi-year lows earlier this week. MSCI's US-centric gauge of stocks across the globe shed 1.84 percent, while emerging market stocks rose 4.58 percent. US gold futures settled 0.4 percent higher at $1,484.6 an ounce. The dollar rose against a basket of currencies in a week when investors liquidated everything from stocks to bonds to gold and commodities to raise cash. The dollar hit a three-year peak of 102.99 in early Asian trading. The dollar index fell 0.214 percent, with the euro down 0.24 percent to $1.0664. The Japanese yen weakened 0.44 percent versus the greenback at 111.23 per dollar. US home sales surged to a 13-year high in February, but the housing market recovery is likely to be derailed by the coronavirus outbreak, which has unleashed a wave of layoffs and left the American economy headed toward recession. The global economy already is in recession as the hit to economic activity from the pandemic has become more widespread, according to economists polled by Reuters. Oxford Economics cut its global growth forecast for 2020 to zero, making this year the second-weakest for the world economy in almost 50 years of comparable data, with only 2009, in the depths of the global financial crisis, being worse. The broad pan-European STOXX 600 index rose 1.82 percent. But stocks pared some of their gains as fears over the economic shock from the coronavirus quashed initial optimism. Britain's FTSE rose 0.8 percent, Germany's DAX gained 3.7 percent, and France's CAC 40 rose 5 percent. The European Central Bank's 750 million-euro emergency bond purchase scheme, announced on Wednesday, has boosted southern European debt, alleviating some concern over how already heavily indebted states would finance the fiscal measures needed to defend against coronavirus. Investors in Asia were happy that Wall Street had not plunged again. South Korean shares bounced 7.4 percent, though that still left them down more than 11 percent for the week. Australia's beleaguered market eked out a 0.70 percent gain, and futures for Japan's Nikkei were trading up at 17,710, compared with the cash close of 16,552. Oil prices fell for the fourth week in a row, with US crude posting its worst week since 1991, as the coronavirus outbreak knocked the demand outlook and Moscow rejected US intervention in its price war with Saudi Arabia. West Texas Intermediate fell $2.69 to settle at $22.53 a barrel while Brent crude futures fell $1.49 to settle at $26.98 a barrel. Euro zone bond yields tumbled as risk sentiment picked up to support Southern European bonds. Relatively calm trading in US Treasuries early in the session returned to the volatile patterns seen earlier this week after Cuomo said he would issue his executive order. Benchmark 10-year US Treasury notes fell 124 basis points to yield 0.8869 percent.

gold rose more than 3 percent at one point as it regained a bit of its flight-to-safety lustre. the dollar staged a furious rally this week as investors scrambled to obtain cash. the dollar rose 4.32 percent in the biggest weekly gain since the 2008 financial crisis. the dollar rallied 4.32 percent in the week before the governor ordered residents to stay home.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/ultratech-cement-on-a-strong-footing-amid-reviving-rural-demand/articleshow/77223303.cms

ET Intelligence Group: Ultratech Cement reported better than expected topline and volume performance for the June 2020 quarter helped by a sustained demand in the rural housing market and higher cement prices . The country’s largest cement manufacturer by revenue and capacity was also able to strengthen its balance sheet through the sale of non-core assets.Rising rural demand backed by higher income augurs well for the company which has a strong presence across the country. Its stock gained 7.2% at the end of the trading session on Tuesday taking the total return in three months to 22%.During the June quarter, the company’s plants were in operation for 68 days due to the nationwide lockdown to control the spread of the COVID-19 pandemic. Despite that, it reported net revenue of Rs 7,633 crore for the quarter, exceeding the Bloomberg consensus estimate of Rs 7,279 crore. The revenue was supported by 3% and 7% sequential increase in its retail outlets and cement prices respectively. This also helped the company to register a lower drop of 21% in sales volume compared with the 35% fall at the sector level.Revenue fell by 33% whereas net profit dropped by 37% to Rs 796 crore year-on-year in the June quarter. A tighter cost control expanded operating margin before depreciation and amortisation (EBITDA margin) by nearly 400 basis points to 31%.In a conference call with analysts after declaring the results Tuesday afternoon during market hours, the company said that its retail volume share increased by 13% year-on-year during the quarter. This was on account of a strong rural demand in the individual home builders ( IHB ) segment as migrant workers returning to their villages constructed houses.During the quarter, the company sold an overseas cement subsidiary, which helped in reducing net debt to Rs 14,651 crore from Rs 16,860 crore in the previous quarter.In the coming quarters, the demand from central, eastern and some parts of northern markets is expected to be stable, helped by rising rural cash flows. Ultratech stands to benefit given its deep rural presence and a strong network of over 95,000 dealers.At Tuesday’s closing price of Rs 4,135.7, the company’s enterprise value (EV) was 16.5 times EBITDA compared with the five-year average of 18.9. The stock is expected to sustain the momentum in the medium term given the reviving demand scenario and the company’s wide network and strong balance sheet.

company's net revenue of Rs 7,633 crore for the quarter, exceeding the consensus estimate of Rs 7,279 crore. revenue was supported by 3% and 7% sequential increase in its retail outlets and cement prices respectively. a tighter cost control expanded operating margin before depreciation and amortisation (EBITDA) by nearly 400 basis points to 31%.

Positive

https://economictimes.indiatimes.com/industry/auto/auto-news/escorts-reports-21-increase-in-total-tractor-sales-at-10851-units-in-june/articleshow/76724496.cms

Farm equipment and engineering major Escorts Ltd on Wednesday reported 21.1 per cent increase in total tractor sales at 10,851 units in June. The company had sold 8,960 units in the same month last year, Escorts Ltd said in a regulatory filing.Domestic tractor sales were at 10,623 units in the month under review, as against 8,648 units in the year-ago month, a growth of 22.8 per cent, it added. Exports during June, however, declined 26.9 per cent at 228 units as compared to 312 units in the year-ago period."We have seen unprecedented demand in this month. The industry is expected to grow significantly backed by pent-up demand of the lockdown period, better farmer sentiment due to good monsoon prediction reflected in better than normal Kharif sowing, better rural cash flows owing to record crop output and crop prices, and reasonably good availability of retail finance," the company said. The industry is witnessing widespread growth in almost all markets barring one or two, it added."Our inventory levels, both with the company and with channel have been lowest ever. After necessary permissions, we were able to run our factories in multiple shifts to achieve production at about 90 per cent of the capacity," Escorts said. Supply chain situation, though better than before, continues to remain volatile, it added.

Escorts reports 21.1 per cent increase in tractor sales in June. the company had sold 8,960 units in the same month last year. exports during June decline 26.9 per cent. the industry is witnessing widespread growth in almost all markets. a lockdown period has boosted demand. a spokesman for the company says the supply chain is "very volatile"

Positive

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/uber-ceo-dara-khosrowshahis-asia-trip-underscores-its-persistent-global-ambitions/articleshow/63008470.cms

Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales.

apple set a new quarterly revenue record in india with a strong double-digit year-on-year growth in the September quarter. the world's second-largest smartphone market is a key focus for the cupertino, us-based company where it currently has a low share. luxury car buyers in india are getting younger with two out of five Audi buyers aged less than 40.

Positive

https://www.financialexpress.com/market/soon-invest-in-psu-debt-govt-to-launch-its-maiden-debt-etf-say-finmin-sources/1514664/

After seeing the success of equity exchange traded funds — Bharat 22 ETF and CPSE ETF, the government is all geared up to launch its inaugural Debt ETF as announced by the Finance Minister Arun jaitley in Union Budget 2018-19, but only in July after the formation of new government, a Ministry of Finance official told Financial Express Online on Wednesday. Edelweiss Asset Management, which was appointed as asset management company for the proposed Debt ETF in January, is working on the product structure and is in discussion stage with the Central Public Sector Enterprises (CPSEs) to know their requirements and expectations with regard to the product. The debt ETF will be used for raising capital by CPSEs via issuance of bonds so that they can fund their capital expenditure. The finance ministry has so far appointed AK Capital Services as the transaction advisor and MV Kini as the legal advisor for the proposed ETF, the official said, requesting anonymity. Edelweiss AMC is also in consultation with the Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDA) and other authorities to decide on the regulatory requirements. “Based on the capex requirement of the public sector units, the index will be created. The ETF is likely to comprise all top rated — AAA and AA — securities from 10-15 CPSEs, and will be launched by July,” the official said. The government is likely to launch fifth tranche of CPSE ETF on March 19, to raise at least Rs 35,00 crore. In November, the government had mopped up Rs 17,000 crore through CPSE ETF, which was the highest disinvestment transaction so far. Besides that, its another ETF Bharat 22 also saw a resounding success last month when it was oversubscribed by more than ten times. Finance Minister Arun Jaitley during his Budget speech last year on 1 February 2018 had also said the market regulator SEBI may consider mandating large corporations to use bond markets to finance one-fourth of their capital requirements. Launching of Debt ETF will help in catalyzing the corporate bond market in India.

the government is preparing to launch its inaugural Debt ETF in July. the debt ETF will be used for raising capital by CPSEs via issuance of bonds. the government is likely to launch fifth tranche of CPSE ETF on march 19. CPSE ETF was oversubscribed by more than ten times last month. the government has mopped up Rs 17,000 crore through CPSE ETF.

Positive

https://www.financialexpress.com/market/aurobindo-pharma-share-price-has-little-upside-after-pharma-stock-surged-159-since-march/1982048/

Pharmaceutical giant Aurobindo Pharma might have posted a strong January-March quarter with profits after tax surging 29.7% on-year basis and gross margins going up 2.9% from a year-ago period, but the stock has little steam left now after jumping over 159% since its March lows. Trading at Rs 761 per share on Friday morning, the stock has helped investors pocket mammoth gains even during a time when the overall equity market sentiment was weak globally. However, now the rally has almost reached its peak. While some brokerage firms are revising their calls, some retail their previous analysis but the target price set by all is almost close to where the stock price is now. Aurobindo Pharma has been gradually treading up the complexity curve for sterile products, with a range of approvals, including colored products, PFS products, large volume lyophilized products, and complex API products. For sterile sales in the USA to reach US$400-500 million, analysts say the firm will need progress in other complex filings such as triamcinolone injectable, iron products, peptides, and depot injections. “ However, progress in these areas has been understandably slow, while its inhalation (pMDI’s as well as Advair, though none in clinics) and biosimilars (Avastin filing for the EU in 1QFY22) products are yet to be filed, with meaningful profit contribution unlikely before FY2024,” said analysts at Kotak Securities. The brokerage has downgraded the stock from ADD to REDUCE with a fair value of Rs 730. Shares of Aurobindo Pharma after seeing a strong rally in the previous months are now among some of the stocks on the bourses that are positive year-to-date. The stock price is up 67% since the beginning of the year. Aurobindo Pharma also maintains a strong cash balance on account of anticipation of the Sandoz deal, which will be deployed back in business, according to the company. With strong focus on the future, management expects the firm to file 50-60 products over the coming few years. With this increase in R&D cost is also expected to shoot up. “Over FY20–22E, Aurobindo Pharma’s R&D is likely to increase, EBITDA margin would remain flat, and earnings would rise at a 6% CAGR. With the OAI status at four facilities and a warning letter at a fifth one, execution risks persist.,” said Edelweiss Securities. The brokerage said the stock is trading at 15x FY22E earnings as it maintains the HOLD call with a target price of Rs 825 per share. Interestingly when foreign investors were leaving the Indian markets, FII investment in Aurobindo Pharma went from 21.4% at the end of December 2019 to 22.3% at the end of the March quarter. Although the stock has a BUY rating from Motilal Oswal the target price is at Rs 880 per share. The brokerage firm said it remains positive on Aurobindo Pharma on account of a robust ANDA pipeline, pending approval, as well as a niche product pipeline build-up for the developed markets.

stock has jumped over 159% since its March lows. stock has helped investors pocket mammoth gains. analysts say firm will need progress in other complex filings. firm also maintains strong cash balance on account of anticipation of the Sandoz deal. sterile sales in the us to reach US$400-500 million. firm has been gradually treading up the complexity curve for sterile products, with a range of approvals.

Positive

https://www.businesstoday.in/current/economy-politics/delhi-govt-launches-online-portal-for-job-seekers-employers/story/411176.html

Delhi Chief Minister Arvind Kejriwal on Monday launched a job portal called jobs.delhi.gov.in. CM Kejriwal said that the job portal will serve as "Rozgar bazaar" for both job seekers as well as recruiters. The CM appealed to the traders, industrialists, and people to join hands to revive Delhi's economy. "Construction work has resumed in Delhi but workers are missing. Employees who have lost their jobs are unable to find new ones. To provide a common meeting ground for both job seekers, the Delhi government is going to start a portal jobs.delhi.gov.in. Any employer seeking personnel can register and enlist what all qualifications he is seeking," Kejriwal said at a press conference. Kejriwal added, "Those searching for jobs can also register on this website, enlisting their experience, qualifications, and areas in which they are interested in finding work. There are many categories on the portal. I believe this will help every sector and job-seekers". Labour Minister Gopal Rai had said the services of the job portal would be free and an applicant need not pay any money to anyone for registration. Additionally, Kejriwal said a special order was being issued to allow the street vendors to resume work from today. The 51-year-old chief minister also expressed happiness that Delhi had managed to flatten the coronavirus curve. He said Delhi was registering a sustained lowering of COVID-19 cases at a time the infections were increasing in the country and worldwide. The chief minister pointed out that the recovery rate in Delhi had gone up to 88 per cent. The positivity ratio had dropped to 5 per cent from from around 35 per cent. Only 2,850 hospital beds are occupied by COVID-19 patients, while 12,500 beds are empty, Kejriwal added. Also read: RBI Governor Shaktikanta Das highlights 5 bright spots in Indian economy Also read: Unlock 3.0: Cinema halls likely to reopen from August 1

CM arvind Kejriwal launches job portal jobs.delhi.gov.in. he says the portal will serve as a "rozgar bazaar" for both job seekers and recruiters. the CM also expressed happiness that Delhi had flattened the coronavirus curve. he said the recovery rate in Delhi had gone up to 88 per cent.

Positive

https://economictimes.indiatimes.com/news/politics-and-nation/why-india-may-be-donalds-trump-card/articleshow/74263600.cms

(This story originally appeared in on Feb 23, 2020) The US pivot to Asia has been almost a decade in the making. But for the past two decades, the more significant development has been the Indian pivot to the US. This change of direction, after almost half a century of “tilt” towards Russia, has meant that on a geopolitical level, India is quietly reorienting its approach, outlook and policies to reflect the growing convergence with the US. Donald Trump may be the most transactional US president till date, but he has largely upheld the traditional American understanding that India’s global rise is a good thing because a successful India would be a powerful democratic counter-balance to an expansionist and authoritarian China.This matches India’s own notion that it was the only natural balancing power to China in Asia. That was one of the reasons behind the US using its global heft in an unprecedented move to lift India’s nuclear pariah status. Since then, India has been integrating itself into the global technology regimes, which it had been denied. As former PM Manmohan Singh observed while returning from signing the deal in 2005, “The nuclear deal will do for India in strategic and technology terms what the 1991 economic reforms did for its economy.”When Modi came to power in 2014, his overt investment in the US could not be missed. He built a solid relationship with Trump’s predecessor, Barack Obama and over the past three years, has assiduously worked on Trump. Going beyond the trade difficulties, the Modi government moved from crafting a joint strategic vision for Indian Ocean and Asia-Pacific in January 2015 to aligning their Indo-Pacific policies by 2019. In 2018, the Pentagon articulated what it called a “three-pronged” strategy of maritime cooperation with India — a shared vision on maritime security, upgrading bilateral maritime security partnership and collaborating to build regional capacity and improve regional maritime domain awareness. In the past few years, India has built its own complementary strategy.As Ashley Tellis points out in an article for Foreign Affairs, “The Trump administration’s focus on great-power competition, its designation of China as a strategic competitor, and its pursuit of a ‘free and open Indo-Pacific’ all gave India renewed importance.”What this showed was the growing convergence between the two asymmetrical powers on strategic affairs — as the US took on China in the South China Sea, India has been slowly but surely building up its own capabilities in the Indian Ocean, both with the aim of balancing China’s rise. India has been building its own alliances in the Indo-Pacific region — with France, Australia, Indonesia, Vietnam and Singapore, all with huge overlaps with the US. India’s closest strategic partner in Asia is Japan, which, together with the US, forms the core of the Indo-Pacific.India has also accommodated the US in its immediate neighbourhood, from Nepal to Bangladesh and Sri Lanka, as both powers work to limit China’s influence. In the past few months, both the US and India have independently been reaching out to the Central Asian states, building networks that provide alternatives to Chinese expansionism — the US also wants to limit Russia’s influence, but India is happy to give Russia a lead position there. This flexibility has worked well for India, while the US is slowly learning to live with India’s independent strategic vision that includes Russia and Iran.Three areas — energy, defence, and people — provide the underpinnings for the new and improved India-US strategic partnership. India is diversifying its energy basket away from the Gulf by buying more oil and gas from the US. The US has become one of India’s biggest defence suppliers. Underlying this geopolitical convergence is the obvious affinity of the Indian people for the US, which has meant 4 million Indian Americans, 200,000 students who form the backbone of the strategic partnership. That is for any US administration to cash in, because it ties India closer to America in the most fundamental of ways.Tellis says, “India and the US are far from becoming formal allies. They are dogged by persistent trade disagreements, which India shows no inclination to settle. But given Trump’s record with other US allies, his administration has been surprisingly lenient when it comes to India’s uncompetitive trade practices. It has also kept mum about India’s feared drift toward illiberalism, enabling both countries to push ahead on strategic, especially defence, cooperation, which has always been the lodestar that guides US-Indian relations.”

the US has been using its global heft to lift India’s nuclear pariah status. since then, India has been integrating itself into the global technology regimes, which it had been denied. the change of direction has meant that on a geopolitical level, India is quietly reorienting its approach, outlook and policies to reflect the growing convergence with the US.

Positive

https://www.financialexpress.com/economy/more-evidence-of-gsts-benefit-for-economy-dramatic-growth-in-warehousing-space/1335369/

GST boost for Indian economy: Amid dissenting voices on success and effectiveness of the GST, here’s yet another proof that India’s sweeping indirect tax reform has provided a major impetus to the economy, in the dramatic rise in handling of goods. GST has improved efficiencies and cost savings for warehouses, resulting in a significant growth in warehousing space, according to a report. The total warehouse space in eight primary locations in India is expected to reach 204 million square feet by the year 2019, driven by strong demand and investment in the short to medium-term, KPMG said in a recent report. Further, warehousing spaces is expected to witness an increase of 112 per cent by 2021, said the report citing industry experts as saying. “It is noteworthy that the implementation of GST has dramatically improved efficiencies and cost savings with a ‘Hub and Spoke’ model of warehousing. Pre-GST implementation CAGR (2014–16) of 15% has increased to an expected post-GST implementation CAGR (2017–21) of 21% for Grade A and B warehouse stock projections in the top eight cities in India,” said the KPMG report. Notably, transaction volumes of warehousing spaces has registered a massive rise, increasing by more than 85% in 2017 to 25 million square feet across India’s top cities – Mumbai, NCR, Ahmedabad, Bengaluru, Pune, Chennai, Hyderabad and Kolkata. Explaining how GST has led to such a significant improvement, KPMG said that smaller and fragmented warehouses are getting consolidated into centralised warehousing hubs with increasing focus on supply chain efficiencies. Implementation of GST is leading to consolidation in larger warehouses to help attain benefits from economies of scale. This in turn, is driving the demand for efficient and larger warehouses. Further, GST has also reduced the need to maintain high inventory levels resulting in increased demand for shared and centralised warehousing hubs, which aid in improving inventory turnover rates, said the report. Apart from the eight major locations, strategic locations such as Nagpur, Bengaluru, Kolkata and Guwahati are expected to become regional warehousing hubs connected to smaller local nodes via secondary logistics, says KPMG. The government’s move to award infrastructure status to the logistics sector including warehousing in November 2017, has paved the way for institutional players to invest in the sector, bringing in a number of benefits for the warehousing realty, said the report. “India is expected to witness investments of approximately Rs 500 billion for creating storage facilities between 2018 and 2020, leading to an approximate CAGR of 21% by 2021,” the report noted.

GST has improved efficiencies and cost savings for warehouses. warehousing spaces expected to witness an increase of 112% by 2021. implementation of GST is leading to consolidation in larger warehouses. this in turn, is driving the demand for efficient and larger warehouses. the total warehouse space in eight primary locations in india is expected to reach 204 million square feet by the year 2019.

Positive

https://economictimes.indiatimes.com/blogs/et-editorials/stimulus-calls-for-a-bond-market/

The Centre needs to provide focused policy attention for an active and vibrant corporate bond market, so as to raise long-term funds for an infrastructure-led investment boom, to generate demand in the economy. The recent Rs 75,000 crore funding package for non-banking financial companies (NBFCs), housing finance companies (HFCs) and micro, small and medium enterprises (MSMEs) helps create a thriving debt market, and would need it to take off. Corporate debt remains privately placed, almost 98% of the total corpus raised. That makes for opacity and worse; top AAA-rated bonds held to maturity can well turn out to be duds, as happened with IL&FS. The way forward clearly is for the government to policy-induce insurance and pension funds to invest bonds issued to fund viable infrastructure projects. The government will have to take the lead in creating a corporate bond market. Issue fresh equity in existing and new vehicles. These can raise funds by issuing bonds that RBI can purchase. With this money in hand, these State-owned vehicles can invest in corporate and NBFC bonds to finance infrastructure bonds. Once such a large supply of bonds start trading, investors, including foreign ones, would join in, provided credit, interest and currency derivatives of the requisite kinds are available to hedge against risk. Transaction taxes should go and the burden of stamp duty be minimal and uniform across states, with an overall cap. We do need to discourage bank funding for long-gestation projects, as it inevitably leads to routine asset-liability mismatches. Outstanding bank credit to the infrastructure sector has declined to 12% of non-food credit from 16% in 2016. The Centre needs to operationalise the Credit Guarantee Enhancement Corporation, announced last fiscal, without delay — most infrastructure loan assets typically are rated BBB– or lower. The assets managed by pension and insurance funds exceed Rs 55 lakh crore. The estimate is that institutional credit guarantee can purposefully free up about Rs 3.5 lakh crore of bank exposure to the infrastructure sector. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Economic Times. END OF ARTICLE

a recent Rs 75,000 crore funding package for non-banking financial companies helps create a thriving debt market. corporate debt remains privately placed, almost 98% of the total corpus raised. the way forward is for the government to policy-induce insurance and pension funds to invest bonds issued to fund viable infrastructure projects. the government will have to take the lead in creating a corporate bond market.

Positive

https://www.financialexpress.com/economy/rbi-to-infuse-rs-3-74-lakh-cr-liquidity-into-financial-system/1910947/

Reserve Bank Governor Shaktikanta Das on Friday said about Rs 3.74 lakh crore liquidity on aggregate basis will be infused into the financial system to deal with the COVID-19 pandemic. Financial markets are under stress and require steps by the central bank for market stability and revival of economic growth, he said while announcing the decisions taken by the Monetary Policy Committee (MPC) here. As part of liquidity infusion measures, he said, the Reserve Bank of India (RBI) will undertake repo operation of up to Rs 1 lakh crore to infuse liquidity into the market. Further, he announced reduction in cash reserve ratio (CRR) of all banks by 100 bps to 3 per cent from 4 per cent, with effect from March 28 for one year. This is expected to release Rs 1.37 lakh crore liquidity in the market, he said. CRR is the percentage of deposits that banks have to mandatorily keep with the central bank. RBI last reduced CRR on February, 2013, by 25 basis points. In all, Rs 3.74 lakh crore liquidity to be injected into system through the measures announced today (Friday), he added. The governor also assured the public that the banking system in India was safe.

the governor says about Rs 3.74 lakh crore liquidity will be infused into the financial system. he says the central bank will undertake repo operation of up to Rs 1 lakh crore. he also announced reduction in cash reserve ratio (CRR) of all banks by 100 bps. this is expected to release Rs 1.37 lakh crore liquidity in the market, he says.

Positive

https://economictimes.indiatimes.com/news/economy/indicators/indias-reforms-bearing-fruits-make-case-for-more-steps-imf/articleshow/63843295.cms

WASHINGTON: The reforms carried out by India has been bearing fruits and benefiting people, making a strong case for more steps, a top IMF official has said.The implementation of the Goods and Services Tax ( GST ), despite a bumpy road, is going to help secure the solidity of foundation of public finances, David Lipton , the International Monetary Fund (IMF)'s First Deputy Managing Director, told PTI.The recent steps taken to deal with the accumulated problems in banks are important ones, Lipton said, as he identified digital ID technology and other structural reforms important moves towards inclusive growth and making India an economic powerhouse."There's certainly more to be done but India is certainly seeing benefits from what it has done," he said on the sidelines of the Spring meeting of the IMF and the World Bank "India's reforms have been bearing fruits and we see that in growth performance. (India's) growth last year was 6.7 per cent. We're now projecting 7.4 this fiscal year and 7.8 the following (year). That's a very healthy acceleration and it really means for a country that is huge, adds up to an awful lot of economic activity."India's goal is to have sustained growth and to have a growth that boosts the living standards very broadly across the population. The reforms that have been carried out so far have had benefits and make a very good case for carrying forward with further reforms," Lipton said.A country of India's size has to be very careful to keep public finances under control because any interruption of economic activity that comes from fiscal difficulties would be a setback, he said.Strengthening the foundation of fiscal finances with the GST is one reform that stands out, Lipton said.Asked if these reforms have been inclusive enough, Lipton said the eco-system being built around digital ID technology offers a big help in this regard.The problem of inclusion in India is particularly a difficult one given the size of the country and the remoteness of much of the population as well as the complexity of some very overburdened urban areas, he said."There's been progress, but I think that this is a challenge that has not been not solved yet and may not be solved for a while. But what makes sense is to carry on."I hope that in India's case, new technologies, some of which are already being applied can help overcome remoteness and can promote inclusivity, whether it's retina ID numbers system and the architecture of finance and commerce that's going to be built around that or some of the new fintech innovations that allow people to do commerce or banking, whether it's savings and earning on their savings or borrowing may be useful for the creation and building businesses through new technologies," Lipton said.The Indian government is effectively looking at how technologies can lead to better efficiency and less waste and corruption in government interactions with the people, whether it's in spending and benefits or the collection of taxes, the senior IMF official said."So, I think in a big country, technology can be a way to leapfrog the more old-fashioned ways in building connectivity that leads to inclusion in the country," he said.Asked about the Aadhaar Card technology, Lipton said it is relatively new and seems to have many advantages."It surely has huge promises and could help overcome remoteness and promote inclusion," he said.There certainly are possible drawbacks, he noted."From the beginning it's been clear that issues of privacy and data security are going to arise when you use a technology like this. And it'll be the societies' job to figure out the do's and don'ts of that," he said."I hope it (India's progress) will show in poverty reduction statistics and eventually in a measurement of metrics of inclusion."I've said there's more to be done. There are further reforms both in terms of consolidating the budget situation to ensure that there's never an incident of doubt about fiscal finances in terms of making the banking system more competitive and dealing with the legacy problems of NPAs (non- performing assets)," he said.The important job is not just to recapitalise, but to change the governance and change the competitiveness so that banks serve as a positive force, allocating credit well and being a driving force in the economy, he said.Asked about IMF Managing Director Christine Lagarde 's remarks that she does not expect any major economic reforms in an election year, Lipton said: "It's always a difficult to make policy during election years."We certainly hope that there can continue to be a progress, but it's really the judgement of the politicians, the government about what can be done when"."If policies are managed well and reforms are supportive of inclusive growth, India's economy could become a powerhouse economy. It is already, I think the 10th largest, but with the population and the growth rate there's more potential."The challenges of getting from here to there are very substantial. India needs a process of growth and development. And development means both economic and social development and more inclusion. We do think the gender gap in involving women, in the economy in a way that their full potential can contribute to India's economic growth is very important objective," Lipton added.

the implementation of the GST is going to help secure the solidity of foundation of public finances. digital ID technology and other structural reforms are important moves towards inclusive growth. the goal is to have sustained growth and boost the living standards across the population. the country's growth last year was 6.7 per cent. a country of its size has to be very careful to keep public finances under control.

Positive

https://www.moneycontrol.com/news/business/markets/covid-19-teaches-rules-of-investing-5-key-lessons-you-must-never-forget-5188381.html

COVID-19 is a strong disrupting force and is likely to leave an indelible mark on the history of mankind. While there will certainly be a time free from this pandemic, there will be lessons taught by it that will never fade away, or at least, they should never be ignored. In the world of investing, there is a popular saying that market crashes should be seen as opportunities to lap up quality stocks. This may be true even for now and other than this, there are several lessons that must be kept in mind when you embark on the journey of investing. Periodic review of asset allocation Don't put all your eggs in one basket. The idiom should be abided by as a thumb rule if you want to become a successful investor. But, only diversification of investment will not help unless you do a periodical review of it as it will help you rebalance your asset allocation. "Periodical review and rebalancing your asset allocation will help you to take profits when a particular asset class is bubbly and deploy that fund in other asset classes that have not seen that kind of a run. Also when a particular asset class suffers a selloff, it will make you relook and invest some money back into that asset class," said Deepak Jasani, Head Of Research, HDFC Securities. Jasani added it is high time that you make one considering your risk profile and lifecycle stage. Within the equity asset class, a proper mix of large-caps, mid-caps and small-caps needs to be maintained and reviewed. Be an active and prudent investor: There is always an element of risk and uncertainty in investing but they can be reduced if one takes a well-calculated call and avoids getting carried away by greed and fear. "Do not rely too much on media and fund managers, especially at bubbly times. Also, the government and regulatory functionaries are normally expected to douse fears and hence their words, too, need to be taken with an element of skepticism in troubled times. Try to control the emotion of greed and reduce leverage as indices keep rising," said Jasani of HDFC Securities. Avoid the herd mentality: Have you ever wondered why only a few people become successful investors and they follow different investing styles? Herd mentality can be fatal for investing. During the time of market rally or corrections, a large chunk of investors rushes to experts to get cues on the trend. Since the main objective of investing is to gain profit and minimise losses, investors tend to embark on panic selling. But there is always a thin line between panic selling or taking a good call. One must try to assess the ongoing trend and be judicious before going with the flow or taking a contrarian move. For instance, in the last few days, many experts were claiming that the market will fall further, but the market showed resilience and moved up. Even the breadth of the market has improved. Hoping against the hope: Investing always requires patience and prudence and to some extent hope too. But hoping against hope can never be termed as a prudent strategy. During the outbreak of COVID-19, many investors thought some pockets of businesses will remain firm and will be less impacted by the sell-off. The trend, however, shows that the sell-off was widespread and only a few stocks could withstand it. "Hoping against hope cannot be considered beneficial in most cases. Notably, the USA and Indian benchmark indices are still down by nearly 18 percent and about 24 percent, respectively, from their February 2020 highs and hence, we still consider the recent rally as a relief rally in the absence of formidable resolution of COVID-19 crisis," said Lav Chaturvedi, ED & CEO at Reliance Securities. Hope is justified in most cases, but blind or irrational hope can erode the value of your investment. Bluest of the blue-chip is fall-proof? The coronavirus pandemic showed how big this myth is. "Who says bluest of the blue-chip is fall-proof’? It’s a blunder to assume that anything is absolutely fall-proof in the market. Had that been the case, all the historical blue-chip companies would have been still existing and going strong," said Pranjal Kamra, CEO, Finology. Kamra pointed out that as a matter of fact, 22 companies that were a part of Nifty50 in 2008, are no more there. Many of those companies are now either bankrupt or on the verge of it. Aamar Deo Singh, Head Advisory, Angel Broking concurs to the view. "The belief that the bluest of blue-chip is fall-proof is mistaken. Markets change and stocks change, what was once a blue-chip might not forever remain so. Focus on quality and growth, rest all will fall in place. And neither of this is permanent for any stock as the business landscape becomes as dynamic as ever,” he said. One's investing style can be different but the basics of investing never change. COVID-19 is an opportunity when we revise the basics and keep the lessons in mind. Don't change your long-term financial goals just because the market is going through a bear phase. You need to remind yourself about why you invested in those stocks. Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

a popular saying says market crashes should be seen as opportunities to lap up quality stocks. periodic review of asset allocation will help you rebalance your asset allocation. avoid the herd mentality and avoid the "stupid" approach to investing. a good investment strategy will help you to avoid the "stupid" approach. a good investment strategy will help you to avoid the "stupid" approach.

Positive

https://economictimes.indiatimes.com/industry/cons-products/fmcg/pepsico-bullish-on-india-increases-investment-at-snacks-plant-in-up-to-rs-814-crore/articleshow/78600607.cms

NEW DELHI: Food and beverages major PepsiCo is "extremely optimistic" about the future of the Indian market despite short-term headwinds due to pandemic-related disruptions and increasing investment at its new greenfield snacks plant in Uttar Pradesh to Rs 814 crore to meet increasing demand, according to its India President Ahmed ElSheikh The company is committed to double its business from snacks business in India and also increasing the capacity of existing food plants in West Bengal and Maharashtra, and it has additionally proposed to set up a greenfield manufacturing facility in Assam."While there have been some short-term headwinds due to COVID-19, we at PepsiCo are extremely optimistic about the future and are committed to provide consumers the right portfolio of products across food and beverages," ElSheikh told PTI.PepsiCo India has emerged as one of the largest food and beverage companies in the country in 30 years of its establishment in India and is looking to build further, he added."Looking ahead, we are committed to double our snacks business in India. In fact, we have increased our investment in our new greenfield snacks plant in Uttar Pradesh from Rs 500 crore to nearly Rs 814 crore, generating 1,500 direct/indirect jobs and enabling a local sourcing ecosystem," ElSheikh said.India consumption story has just started and according to industry reports, India will be the third-largest consumption market by 2025, he said.As the festive season begins, the company expects an enhanced demand from categories like snacks, juices and other carbonated beverages led by the sentiment of celebration."From an FMCG point of view, the industry is seeing consumption revival, which we expect will only get better with further unlocking and the upcoming festive season," ElSheikh said.Commenting on consumer trends, ElSheikh said 'in-home consumption' is witnessing a significant uptake and consumers are seeking convenience along with the value."As people adjust to the 'new normal', in-home consumption is witnessing a significant uptake. There is a growing demand for our larger packs as in-home occasions of togetherness have increased manifold. While the consumers are looking at in-home experiences and seeking convenience, they are also looking at value," ElSheikh said.He, however, said, "Affordability is key today."PepsiCo has introduced 1.25-litre PET pack in its beverage portfolio at a very affordable price of Rs 50 targeting the 'in-home consumption' and introduced various combo packs in food portfolio.While, in the smaller packs, it has also strategised price points to meet both rural and urban demand."With the Indian FMCG industry slowly showing signs of revival in COVID impacted world, we have adapted quickly and re-strategised our price-pack programmes, enhanced consumer engagement initiatives and doubled down attention on both B2C and B2B distribution models to meet consumer demand," he said.According to a recent RoC (registrar of companies) filing by PepsiCo India, its profit after tax in FY 2019-20 increased to Rs 329 crore from Rs 36 crore in FY 2018-19.Though its revenue was down 15.87 per cent to Rs 5,264 crore compared to Rs 6,257 crore in FY 2018-19 on account of refranchising the remaining bottling operations in south and west India to its bottling partner Varun Beverages Ltd."PepsiCo India's transformation journey remains on track -- third successive year of profit in FY 2019-20 which has been all about building 'a faster, stronger, better company' in India," he said.Though its overall beverage volume grew during the FY 2019-20, its beverage revenue was lower on account of refranchising and impact of COVID-19 in the last fortnight of March 2020. Its food revenue grew due to strong growth in Lays Kurkure portfolio and Doritos "Focus on the core brands yielded results with growth across the portfolio namely Lay's & Kurkure portfolio, Lay's Maxx and Doritos. Similarly, Core brands drove beverage growth, led by Pepsi Slice ," ElSheikh said.Last week, in its global Q3 results, PepsiCo had reported organic revenue growth in some international markets including India."Within our international markets, developed market organic revenue growth increased 8 per cent and outpaced developing and emerging markets which increased 2 per cent," PepsiCo's chairman and CEO Ramon Laguarta had said on October 1, 2020.Some notable highlights include double-digit organic revenue growth in France, Australia, and Brazil, high-single-digit growth in India and mid-single digit growth in the UK, China and Russia, he said.

pepsiCo is "extremely optimistic" about the future of the Indian market, says its president. the company is committed to double its business from snacks business in india. it has increased investment at its new greenfield snacks plant in Uttar Pradesh to nearly Rs 814 crore. India will be the third-largest consumption market by 2025, according to industry reports.

Positive

http://www.financialexpress.com/money/mutual-fund-assets-to-hit-rs-100-lakh-crore-in-next-10-years-mahindra-amc/1001640/

Indian mutual fund industry’s assets under management (AUM) are expected to touch Rs 100 lakh crore in the next 10 years on account of strong participation from retail investors, a top Mahindra AMC official said today. At present, the mutual fund industry has an asset base of Rs 22.36 lakh crore. “People want to make money and they have understood the fact that only way to beat the inflation is investment in equity. They are moving away from traditional investment products like gold and real estate and focusing on mutual funds. This will help in reaching the industry AUM to Rs 100 lakh crore in the next 10 years,” Mahindra AMC Managing Director and CEO Ashutosh Bishnoi told reporters here. In 2017, the total asset base of all 42 active fund houses put together surged by an impressive 32 per cent, while it had risen by 24 per cent over the last five years. The industry’s AUM had crossed the milestone of Rs 10 lakh crore for the first time in May 2014 and in a short span of about three-and-a-half years, the asset base shot up more than two-fold to over Rs 22 lakh crore at December-end 2017. It was at Rs 16.46 lakh crore at the end of December 2016. This was the fifth consecutive yearly rise in the industry AUM, after a drop in the assets base for two preceding years. The industry has been running a very ambitious investor awareness campaign, ‘mutual fund sahi hai’ or mutual funds are right for the investor and Bishnoi feels it may have added considerably to the growth. Overall, investor count is estimated to have risen by 1.7 crore to 6.5 crore, while retail investor accounts — defined by folios in equity, ELSS and balanced categories — alone grew by 1.4 crore to 5.3 crore. Bishnoi was speaking at the launch of a new scheme — Mahindra Unnnati Emerging Business Yojna — which will predominately invest in mid cap companies. The new fund offer (NFO) will open on January 8 and closes on January 22. “Indian economy is poised for a multi-year growth phase, with the governments focus on reforms. Investment opportunities will also emerge with formalisation of economy leading to shifting of market share from unorganised to organised sector in highly fragmented consumer segments bringing nations progress closer to every household,” he said. Further, he said that Mahindra AMC, which started operations in July 2016, is aiming to become largest investment house for semi-urban and rural areas in the next 10 years. Mahindra AMC is focused on the rural and semi-urban sector.

at present, the mutual fund industry has an asset base of Rs 22.36 lakh crore. in 2017, the total asset base of all 42 active fund houses put together surged by an impressive 32 per cent. the industry's AUM had crossed the milestone of Rs 10 lakh crore for the first time in may 2014. overall, investor count is estimated to have risen by 1.7 crore to 6.5 crore.

Positive

https://www.businesstoday.in/current/economy-politics/india-inc-on-the-agenda-for-the-new-government/story/352779.html

Kiran Mazumdar-Shaw, Biocon's chairperson and managing director Focus on agri-tech and leveraging the FPO model for agrarian transformation: If you look at India and its agrarian economy, I really believe that focusing on agri-tech is going to be very important. Technologies that are aimed at improving agricultural productivity, delivering value-added agriculture and focussed around the farm to market opportunities that ensure better realisation for the farmers. I personally believe that the farmer FPO (Farmer Producer Organisation) model should be hugely expanded with a large number of incentives for the FPOs because you need cooperative farming and within it the FPOs is the only successful model and encouraging that is a good way to ensure better realisation for the farmers. They could play a role in bringing about value-addition in agricultural produce. Micro-entrepreneurship should be another area of focus especially for job creation. It has the biggest job-creating potential in rural India. A fund for micro-entrepreneurs could be created in rural areas and through this, there could be better monitoring also on how many micro-enterprises are getting created and in the process build a database in this space. Increase R&D investments: For this, we need policies that incentivise CSR and corporate spending into R&D with much better tax breaks. One kind of tax breaks if a company invests in its own R&D and another kind of tax break if it invests by giving research grants to universities then it should get bigger tax breaks. We need to evolve and look at such kind of policies that can bring private sector money into public sector needs. Gender equity is a huge issue and there is a need for focus on this. Consider this, in case a farmer has committed suicide, the moment the widow of the farmer claims ownership of the land that belonged to her husband, chances are she will be killed or ostracised or removed from the family because, the moment a man dies the male members of the family claim stake. To boost private sector investment and for exports, the SEZ scheme should not face the sunset and should be continued. There is a need to provide additional tax breaks for investment with job creation. Consumption: To boost consumption, GST has to be further rationalised and reduce it on many items. Or else, we end up only adding to the cost. G V Prasad, co-chairman and CEO, Dr Reddy's: Focus on the five basics: The government must strongly encourage business. Unless you create wealth it will not result in growth leading to job creation. You cannot get yourself out of poverty by just distributing money. There are a few basic things that every citizen needs and those should be the focus areas for any government. On health, the government should ideally take ownership for the health of its citizens. Apart from healthcare, people need a high quality of life, education, public infrastructure and jobs. The focus should be on creating jobs through sustainable businesses. Improve the quality of life of citizens by taking care of the environment. The environment today is all messed up and every major city in the country figures in the list of top most polluted cities of the world. The government should also invest in education. Models: I am encouraged by the fact that for the first time the government is talking about healthcare. There are models all around the world - the NHS model of healthcare in the UK is one, the Nordic countries have very good systems. They have high tax rates but all the basic minimum needs of people are met with a very high quality of life. Even within our country, we have best-in-class examples like the Kerala literacy and healthcare, the Delhi Mohalla clinic is a great idea, Delhi has also improved its schools. S Chandramohan, president and group CFO at the Chennai-headquartered Tractors and Farm Equipment Limited (TAFE) and the chairman of the Confederation of Indian Industry (CII), Tamil Nadu Infrastructure building and employment creation S Chandramohan, president and group CFO at the Chennai-headquartered Tractors and Farm Equipment Limited (TAFE) and the chairman of the Confederation of Indian Industry (CII), Tamil Nadu Council, speaking to Business Today on the condition that his views would be taken in his personal capacity and not representing his company of the CII, says, there are several measures that the new government could take to boost infrastructure in the country and also in the process create employment. "Other than raising funds through disinvestment in select public sector units - both profit-making and some that are financially stressed - and then spend on infrastructure creation, the government could also consider monetising some of the public land holdings. "India has large public land holdings - be it connected to ports, airports, railways or defence. Some of these could be monetised not to reduce the fiscal deficit but only for building infrastructure and in the process also create employment opportunities." Second, he feels, for the private sector investment to take place there have to be some additional growth drivers. Key to this is raising the savings and getting it back from 30 per cent to 35 per cent and more. The government has also promised reduction of corporate tax but if the government is constrained and is unable to get the corporate tax down, then it still needs to give some incentive to the industry such as restoring and enhancing the weighted deduction on research and development apart from higher investment allowance for plant and machinery or any incentives linked to investment. "Weighted deduction of minimum 150 per cent on revenue towards research and development, which has already been reduced from 200 per cent should be continued beyond the present expiry date of March 2021. Our spend on R&D in this country is negligible and hence we should not allow this provision to lapse after March 2021." Also, "While the government has provided relief on additional employment, the conditions regarding restricting it to Rs 25,000 per month may be increased without limit (or at least significantly increase the limit) apart from increasing the 30 per cent deduction for three years on an additional employee cost over three years to a minimum 50 per cent over two years." Chandramohan is also of the view that the "subsidy for any capital equipment including tractors and implements should be given directly to the farmers and purchase by the state governments directly should be stopped." To boost exports and earn more foreign exchange, given that global trade scenario is becoming challenging with most countries having an inward growth focus and raising trade restrictions, there is need to leverage India's low cost of medical treatment compared to several other countries. Therefore, a medical or health tourism strategy with a long-term plan will help. This also has the scope for employment creation. He feels no major policy thrust to boost private sector investment and on employment creation can be complete without looking at the textile industry. He sees a clear need to boost the textiles industry by creating world-class textile clusters, correcting duty anomalies. "At present, the synthetic textile sector suffers from the inverted duty of 18 per cent on fibre and 12 per cent on yarn and fabric. While there is a provision to claim the refund of inverted duty the process is quite time-consuming impacting the working capital. The anomaly needs to be addressed by reducing the duty to 5 per cent to bring revenue neutrality in line with cotton. Plus, electricity tax should be subsumed under GST."Apart from that facilitate technology tie-ups for polyester. "Buyers will not only follow once we create these but given that the textile sector is a major employment creating industry, it will lead to a lot of job creation. Also, it is a space that China is vacating and we could step in." He feels, by correcting the duty structures and with right incentives, the costs could be lowered for the textile units and that could compensate for the disadvantage they have vis-a-vis other developing countries like Bangladesh and Indian companies could build and invest in ventures within India. He says there could be tax incentives linked to additional employment creation and support the industry perhaps with employment subsidy or any of the measures that do not come under the WTO purview. S. Sivakumar, Group Head - Agri and IT businesses, ITC Three-pronged strategy that makes farming a lucrative enterprise A three-pronged strategy aimed at promoting demand-driven production that is in tune with the changing patterns of food consumption; climate-resilient farming that takes into account the risks arising out of changing climate and depleting natural resources; and farmer-centric interventions given that a model of one scheme or one solution cannot serve the needs of all farmers, would all go a long way to ensure agriculture becomes a remunerative enterprise for farmers, says S Sivakumar, who leads the agribusiness and IT at ITC. Detailing on each, he says, On demand-driven production: Promote the development of inclusive plate-to-farm value chains through public-private-producer partnerships by combining the strengths of all the stakeholders to support India's resource-poor but resourceful farmer. Facilitate delivery of real-time information and personalised knowledge to the farmers by village-level agri services entrepreneurs. At an estimated requirement of 3 million such entrepreneurs to serve the 120 million farmers across the country, this would be the single largest skill-based-job creation launched by any government. Support these new-age agri services entrepreneurs with digital platforms (both public and private) that use smart technologies to enable high-yielding, early-warning, waste-mitigating (through the Internet of Things, image recognition, predictive analytics etc) agriculture, and transform agri extension from the conventional paradigm of 'last mile of the scientist' to one of the 'first mile of the farmer'. Create vegetable production zones in the vicinity of the top-100 towns of the country by setting up climate-controlled cultivation facilities and offering them on lease to trained rural youth. Encourage food processing and crop-specific storage and handling systems for minimising post-harvest wastage. Provide thrust to value-added exports of agri produce, through World Trade Organisation-compliant incentives to offset the high-cost infrastructure. Reform APMC Act to offer freedom to farmers in selling their produce, as also to transform mandis into post-harvest-services organisations. Deepen the commodity derivative markets to enable farmers to discover prices before planting the crops. Set up national agri market intelligence system to monitor variables that impact crop prices and use data analytics to guide the planting decisions of the farmer. Set aside the customs duties collected on import of agricultural products towards the corpus of price stabilisation fund to support farmers in times of a significant drop in domestic prices. On Climate-Resilient Farming Set up a national irrigation authority with a mandate to reach water to every farm on a mission mode. Prepare a blueprint covering both the supply side (appropriate method of water harvesting in different regions) and the consumption side (conservation through efficient pumps and micro-irrigation) aspects and a roadmap for the revitalisation of natural water bodies. Develop an 'atlas of natural resources', mapping the current status and future scenarios of top soil and water resources across the country, for kicking off time-bound rejuvenation work, as also for sensitising the farmers on resource-use the intensity of their cropping decisions. Strengthen crop insurance system for expeditious settlement of farmers' claims by making use of remote sensing and drone surveillance for loss assessments. Promote integrated farming system consisting of polyculture, permaculture, bee-keeping, animal husbandry, agro-forestry, and renewable energy as a naturally-resilient method of farming. Step up research and development work on indigenous varieties of seeds and breeds that are naturally tolerant to weather variations and moisture stress. Set up community-owned-and-operated seed banks for multiplying high-quality seeds of open-pollinated varieties of crops to improve seed replacement rates for raising farm productivity. As for Farmer-Centric Interventions Encourage farmer producer organisations (FPOs) as an aggregation mechanism to bring the power of scale to the small farmers. Strengthen producer organisation promoting institutions (POPIs) to build and incubate robust FPOs by developing their self-governance capacity and business management competence. Provide financial support to FPOs for creation of farm level infrastructure for cleaning, grading, sorting, assaying, as also for the establishment of farm equipment custom hiring centres. Encourage innovative formats of organisation for consolidation of land holdings - with individual farmers continuing to be the owners of their land - to enable economic scale in farming and capital investments. Help augmentation of farm incomes through additional sources, such as dairy, poultry, honey-making, solar power generation, agro-tourism, etc. Set up a national centre of excellence to develop women-friendly farm equipment to minimise their physical drudgery in farming activities. Make Krishi Vigyan Kendras responsible for reducing the cost of cultivation in their catchments through adaptive research. Convert input subsidies into direct pre-season financial support to both land-owning and tenant farmers for buying inputs through pre-paid cards valid at accredited dealers. Reji K Joseph, director of Kerala-based Paragon Polymer Products Pvt Ltd GST refunds, a key pain point. Reji K Joseph, director of Kerala-based Paragon Polymer Products feels that while implementation of GST was a good measure, especially for companies that have an all India market, there are problems. "The main problem is getting a tax refund (input materials have different taxes above 5 per cent) and our products come under 5 per cent. So, we are eligible for refunds of the input materials and this runs into crores." But then, he says, "our company can make profits only when we can get these refunds in time and not end up each month with a huge outstanding."

focusing on agri-tech is going to be very important, says biocon's Kiran Mazumdar-Shaw. he says farmer FPO model should be hugely expanded with a large number of incentives. micro-entrepreneurship should be another area of focus especially for job creation. he says we need policies that incentivise corporate spending into R&D.

Positive

http://www.livemint.com/Money/7QNpg2QX6GEZ7aVdm7019O/MM-fires-on-all-cylinders-to-clock-impressive-profit-growth.html

Mahindra & Mahindra Ltd (M&M) put up a decent show during the December quarter. Net profit rose a robust 16.9% to Rs1,306 crore from a year earlier. While the base-effect of a weak December 2016 quarter played out well for M&M, profit growth was also driven by power-packed sales. Tractors continued to drive performance, as had been the case in the past few quarters because of two consecutive years of good monsoon. Exports rose reasonably too. On the back of a 6.3% growth in sales of tractors, the division whose capacity is firing at 90% utilization levels, clocked a comfortable 110 basis points (bps) expansion in profit (before interest and tax) margin. One basis point is a hundredth of a percentage point. The auto division too contributed to the overall show by posting a 6.6% growth in sales. Better realizations on the domestic front came largely through sales of light commercial vehicles. While the medium and heavy commercial vehicles sales are improving, M&M’s management conceded that discounts were high. Further, the firm has not been able to regain its lost glory in utility vehicles (UV). Sales were flat as competition has raced ahead of the firm. A report by Prabhudas Lilladher Pvt. Ltd early this year expressed concern on the 14% drop in M&M’s market share in UVs over the last four years. Yet, on the whole, the auto division clocked a 140bps increase in margin. At the consolidated level, M&M along with Mahindra Vehicle Manufacturers’ Ltd (MVML) revved up its operating profit by 19.6% to Rs1,693 crore. While this mirrored the strong sales growth, the operating margin of 14.7%, although wider than the year-ago period, was about 100bps lower than analysts’ estimates. The drag was perhaps due to lower UV sales, challenging times for exports in the auto division and discounts being offered to push sales. In fact, even as most product lines are raking in decent sales growth, M&M could do well to sort out the UV business where it reigned supreme until the era of compact UVs took the firm by surprise and rivals captured the market. Analysts are hopeful that the low base of the recent past quarters and new launches in the segment should fuel UV sales growth in future. M&M’s shares too have recovered since last September when both the tractor and auto segment sales rose steadily and churned out robust profits. Adding to the optimism is the management’s statement that it expects “no headwinds in Q4FY2018 and FY2019" given the recovery in the rural economy, rural-oriented budget and the smooth transition to the goods and services tax. Even so, the risks of higher interest rates and transition away from diesel vehicles would be speed bumps that the firm along with others in the auto universe would have to contend with. Further, commodity prices are unlikely to soften in the near term, which means that sustaining profitability hinges on M&M’s ability to pass on cost pressures to its customers. Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

net profit rose 16.9% to Rs1,306 crore from a year earlier. tractors continued to drive performance. auto division too contributed to the overall show. tractors continued to drive performance. a 6.3% growth in sales of tractors. a 140bps increase in margin. a report by prbhudas lilladher earlier this year expressed concern on the 14% drop in M&M’s market share in UVs over the last four years.

Positive

https://www.moneycontrol.com/news/business/economy/rbi-policy-here-is-what-bankers-have-to-say-2584523.html

The Reserve Bank of India’s Monetary Policy Committee (MPC) hiked key policy repo rate by 25 basis points (bps) to 6.25 percent on June 6, the first hike in four-and-half years. Here is what bankers have to say: Rajnish Kumar, Chairman of State Bank of India (SBI) RBI policy response of raising rates by 25 bps is dictated by robust consumption and improving capacity utilization. Cost push inflation is a clear risk going forward. Chanda Kochhar, MD and CEO, ICICI Bank The hike in the policy rate today reaffirms RBI’s credibility as a vigilant Central Bank especially against the backdrop of heightened global uncertainties. Such timely action will ensure that inflation expectations remain anchored thereby aiding financial stability. The increase in the carve-out from SLR (statutory liquidity ratio) for LCR (liquidity coverage ratio) maintenance is a very important step that addresses the asymmetries in system liquidity and will temper the increase in short term rates. Measures to facilitate greater transparency and depth in financial markets, such as increasing limits in ‘when-issued’ markets and short sale in government securities as well as moving to market valuations for state government securities are welcome steps. Moreover, convergence in definition of the priority sector limit for housing loans with that of the government’s affordable housing scheme will ensure that this segment receives a fillip. Zarin Daruwala, CEO, India, Standard Chartered Bank RBI delivered a balanced monetary policy highlighting strong domestic and global growth while acknowledging rising inflationary pressures. It retained the robust GDP forecast of 7.40 percent for 2018-19 and also hiked the repo rate to counter rising CPI. It is noteworthy that RBI has maintained its neutral stance so as to further support growth. Sustained improvement in capacity utilisation augurs well for investment demand, credit off-take and overall economic sentiment. The two per cent increase in the SLR/LCR overlap will give a boost to Banks’ liquidity for supporting credit growth.” Rana Kapoor, MD & CEO, Yes Bank RBI’s unanimously delivered 25bps hike has been balanced with a neutral stance, reinforcing MPC’s alacrity to retain inflation within its 4.0 percent target amidst hitherto buildup in price pressures led by crude prices. The rate action comes at a time when economic recovery now appears to be on a firmer footing. This stance allows RBI the choice to act in accordance with evolving macro and financial conditions, in both global and domestic economy in the coming months. Amidst many moving parts, this will entail a careful balancing of global headwinds from elevated crude prices, geopolitical tensions, and domestic policies of MSPs, state pay commissions on growth-inflation dynamics. Melwyn Rego, CEO, Syndicate Bank The decision of RBI to allow banks to spread the MTM losses on investments for the quarter ending June 30, 2018, equally over a period of four quarters and increase in Liquidity Coverage Ratio ( LCR ) carve-out from SLR, will give some relief to the banks on capital and liquidity front. Another news for banks to cheer is, filip given to affordable housing, by increasing limits for priority sector lending.

RBI's policy response of raising rates by 25 bps dictated by robust consumption. increase in carve-out from statutory liquidity ratio for LCR maintenance is a very important step. measures to facilitate greater transparency and depth in financial markets, such as increasing limits in ‘when-issued’ markets and short sale in government securities are welcome steps. RBI retained robust domestic and global growth while acknowledging rising inflationary pressures.

Positive

https://www.moneycontrol.com/news/world/bank-of-japan-keeps-policy-steady-eyes-recovery-from-pandemic-5409781.html

The Bank of Japan kept monetary settings steady on Tuesday and stuck to its view that the economy will gradually recover from the coronavirus pandemic, signalling that it has taken enough steps to support growth for now. To clarify the scale of its money printing, the central bank said it plans to pump $1 trillion to cash-strapped firms through a range of crisis-response tools announced so far. While the BOJ remains focused on steps to ease corporate funding strains, Governor Haruhiko Kuroda may offer hints on how it will deal with longer-term issues such as how to fire up growth and inflation when the pandemic begins to subside. "Although economic activity will gradually resume, Japan's economy will remain in a severe state for the time being," the BOJ said in a statement. "Once the impact of the pandemic subsides, the economy is likely to improve," thanks to an expected rebound in consumption and output, as well as the boost from government stimulus, it said. COVID-19 Vaccine Frequently Asked Questions View more How does a vaccine work? A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine. How many types of vaccines are there? There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine. What does it take to develop a vaccine of this kind? Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time. View more Show In a widely expected move, the BOJ maintained its yield curve control targets at -0.1% for short-term interest rates and 0% for long-term rates. The central bank also made no major changes to its programmes to ease corporate funding strains, including a lending facility aimed at channeling funds to firms. Due to the way it is designed, the size of money to be pumped out via the programmes will reach 110 trillion yen ($1 trillion) if more loans are taken out via government schemes, the central bank said. Prime Minister Shinzo Abe declared a state of emergency in April, requesting businesses to close and citizens to stay home, a move that dealt a severe blow to consumption. The emergency was lifted in late May, but analysts expect GDP contracted more than an annualised 20% in the current quarter, after having slipped into recession in January-March.

the central bank says it plans to pump $1 trillion to cash-strapped firms. the bank is focused on steps to ease corporate funding strains. the economy is likely to improve once the pandemic subsides, it says. a vaccine works by mimicking a natural infection. a vaccine also helps quickly build herd immunity to put an end to the pandemic.

Positive

https://www.moneycontrol.com/news/business/markets/wall-street-climbs-as-jobs-data-supports-upbeat-economic-outlook-3931201.html

US stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April coupled with muted wage gains left investors upbeat about the outlook for the economy and interest rates. The Nasdaq registered a record high close, while the S&P 500 ended just shy of a record high finish. The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969. Average hourly earnings came in just shy of expectations, indicating muted inflationary pressure. The data supports the Federal Reserve's patient stance toward raising interest rates, which is a positive for stocks. "We continue to have stronger and stronger job growth, and it seems like there's less and less inflation, which is really odd. You typically don't see that, and basically what that signals to the market is that the Fed is on hold," said Jamie Cox, managing partner of Harris Financial Group in Richmond, Virginia. "That could portend for better earnings in the future for companies." Boosting the S&P 500 and the Nasdaq, Amazon.com Inc rose 3.2%, after CNBC reported that Warren Buffett's Berkshire Hathaway Inc has bought shares of the internet retailing giant for the first time. The consumer discretionary sector rose 1.5%, leading a rally among the 11 major S&P sectors. The Dow Jones Industrial Average rose 197.16 points, or 0.75%, to 26,504.95, the S&P 500 gained 28.12 points, or 0.96%, to 2,945.64, and the Nasdaq Composite added 127.22 points, or 1.58%, to 8,164. For the week, the S&P 500 and Nasdaq were up 0.2% while the Dow slipped 0.2%. With nearly 400 S&P 500 companies having reported quarterly results so far, three-quarters have topped profit estimates, according to Refinitiv data. The upbeat reports have turned around the S&P 500 earnings estimate for the first quarter to a rise of almost 1% compared with the 2% decline projected at the start of April. Newell Brand Inc shares jumped 13.5% after the maker of Rubbermaid and other consumer goods exceeded Wall Street expectations for quarterly adjusted profit as it benefited from cost savings and higher pricing. Network gear-maker Arista Networks Inc tumbled 10.4% after it forecast weak current-quarter revenue, while Activision Blizzard Inc fell 4.8% after the videogame maker forecast current-quarter profit below expectations as it puts more money into its franchises to battle competition. Advancing issues outnumbered declining ones on the NYSE by a 3.77-to-1 ratio; on Nasdaq, a 3.85-to-1 ratio favored advancers. The S&P 500 posted 36 new 52-week highs and two new lows; the Nasdaq Composite recorded 91 new highs and 30 new lows. Volume on U.S. exchanges was 6.47 billion shares, compared to the 6.62 billion average for the full session over the last 20 trading days.

the labor department says employers added 263,000 jobs in April. the unemployment rate dropped to 3.6 percent, the lowest level since 1969. the data supports the federal reserve's patient stance toward raising interest rates. the consumer discretionary sector rose 1.5%. the u.s. economy is expected to improve in the second half of 2014. a u.s. treasury analyst says the economy is "not a blip"

Positive

https://www.businesstoday.in/top-story/maharashtra-signs-mou-with-chinese-firm-nine-dragons-to-create-10000-jobs/story/323917.html

An MOU was signed Saturday between the Maharashtra Industrial Development Corporation and Chinese paper manufacturing firm Nine Dragons in the presence of chief minister Devendra Fadnavis and state industries minister Subhash Desai. As per the Memorandum of Understanding, Nine Dragons will set up a unit in the state and invest Rs 4500 crore over five years to create 10,000 job opportunities, a statement from the chief minister's office (CMO) said. Earlier, speaking at the Artificial Intelligence Innovation Challenge event organised by the state government's IT department, Fadnavis said AI can bring about sustainability in agriculture. "When we (Maharashtra) are aiming to become a trillion dollar economy by 2025, our prime focus is on agriculture and stress is on the use of technologies," he said. He added that technology was being used extensively to track environmental changes, use of pesticides, soil health and provide timely updates to farmers. Fadnavis cited the use of a single ticket system for multiple modes of transport as another area where technology is being used aggressively. He said education and rural health care were a challenge earlier but the use of technology was proving helpful.

nine dragons will set up a unit in the state and invest Rs 4500 crore over five years. chief minister Devendra Fadnavis says AI can bring about sustainability in agriculture. he says technology is being used extensively to track environmental changes. he says technology is being used aggressively to track pesticide use. a single ticket system for multiple modes of transport is another area where technology is being used.

Positive

https://www.financialexpress.com/infrastructure/railways/indian-railways-to-link-kisan-rail-with-seasonal-fruits-vegetables-orange-keenu-trains-to-take-off-first/2093210/

Indian Railways Kisan Special trains: In a bid to benefit small farmers, Indian Railways is considering linking Kisan Trains with seasonal fruits and vegetables. According to officials quoted in a PTI report, first off the mark could be an Orange Special Kisan Train between Nagpur and Delhi and a Keenu Special Kisan Train from the state of Punjab to West Bengal and Odisha during the months of December and January. The details are still being finalized, said the officials who further added that they have received feedback from various zones of Indian Railways about the viability of running dedicated train services linking them with seasonal produce. The national transporter launched Kisan Rail services last month and so far, these trains carried around 4,100 tonnes of goods from farmers to markets across India. According to a senior official, Indian Railways wants to ensure that small scale farmers who are unable to book the entire train are benefitted with Kisan Rail. The farmers can still avail these services by booking as little as they want. At present, the three Kisan Rail trains that are in operation are between Devlali-Danapur, Yashwantpur-Nizamuddin and Anantpur-Delhi. These trains are running on 85% capacity. Apart from Orange Special and Keenu Special, on the anvil, Mango Special (Andhra Pradesh to Delhi between the months of April and June), Banana Special (Jalgaon to Delhi, during March and December); Onion Special (Nashik to Delhi, during the months of March and December) and Chiku Special (Surat, Valsad, Navsari to Delhi between April-November) are also there. According to officials, the farther the goods or supplies are sent, the cheaper the ferrying cost is. Within 0-500 km distance, Indian Railways services are expensive. But the services of the national transporter are at par with the roadways for more than 1,000 km distance, they said. For over 2,000 km distance, Indian Railways services are cheaper than the roadways by at least Rs 1,000 per tonne, they added. These Kisan Rail train services will be part of the Indian Railways zero-based time table, which will soon be in effect soon. Thus, even if regular train services begin post-COVID-19 pandemic, these train services will have dedicated routes and paths to run on.

Indian Railways is considering linking Kisan Trains with seasonal fruits and vegetables. the details are still being finalized, according to officials quoted in a PTI report. the national transporter launched Kisan Rail services last month. the trains carried around 4,100 tonnes of goods from farmers to markets across india. the fare is cheaper than the roadways for more than 1,000 km distance.

Positive

https://economictimes.indiatimes.com/small-biz/sme-sector/nbfcs-offering-consumer-sme-gold-loans-manage-to-beat-sector-blues-with-strong-numbers/articleshow/70598760.cms

Non-banking finance companies such as Bajaj Finance, Sundaram Finance and Manappuram Finance posted strong growth in the past quarter, even as the sector was still negotiating its worst crisis in a decade and some like Reliance Capital and Dewan Housing missed payment commitments.Sound management practices and absence of financial engineering helped these outperformers navigate the crisis and grow bigger, said industry trackers. While the cost of funds increased for most NBFCs with banks becoming cautious about lending to the sector, these companies saw financing costs ease even.NBFCs in the consumer, SME, gold loan, commercial vehicle finance and microfinance segments have been relatively less affected by the liquidity crisis in the sector. For the companies that give loans against gold, the assetliability maturity levels are positive. They also have low leverage, pricing power and a highly liquid collateral, which would ensure easy access to bond markets as well as bank funding.“Growth and asset quality are expected to be different across asset classes,” said Crisil in a report.“The unsecured loans and gold loans businesses are unlikely to witness any material impact.”Growth in the NBFC sector halved in October-March FY19, and still remains impacted as access to funding has become challenging and they are caught up in managing liquidity. At the same time, unsecured loans including personal loans, consumer durable loans and business loans, as well as two-wheeler finance grew 30 per cent, and vehicle finance business expanded 18 per cent.Meanwhile, in the first quarter this fiscal year, Bajaj Finance reported a profit growth of 23 per cent, Sundaram Finance posted a 12 per cent increase and Cholamandalam Investment, 10 per cent. Mahindra Finance reported a 66 per cent fall in profit and Indiabulls a 24 per cent decline.While some of the NBFCs had less trouble raising funds, others had to look beyond the traditional routes of mutual funds and banks for funds in the past nine months.They are working at tapping foreign money and some are even trying to tap wealthy individuals.They have also reduced dependence on short-term funding like commercial papers, as investors sought large discounts. To improve liquidity, many of them have sold down loans. In fiscal 2019, such sell-downs by NBFCs doubled to about ?1 lakh crore. Banks have bought much of these loans sold by NBFCs.NBFCs are working towards deleveraging, with JM Financial, Edelweiss, IIFL, DHFL, Piramal and Indiabulls Housing raising fresh equity and selling down non-core portfolios, as they sought to improve their asset-liability ratios.“Retail-NBFC asset-liability maturities are generally characterised by positive cumulative mismatches in the near-term bucket of less than one year,” said AM Karthik, the sector head of financial sector ratings at Icra.

non-banking finance companies such as Bajaj Finance, Sundaram Finance and Manappuram Finance posted strong growth in the past quarter. despite the crisis, many NBFCs have been relatively less affected by the liquidity crisis. unsecured loans and gold loans businesses are unlikely to witness any material impact. a report by the nbc says the sector is still negotiating its worst crisis in a decade.

Positive

https://www.moneycontrol.com/news/india/pradhan-mantri-matsya-sampada-yojana-fm-sitharaman-reserves-rs-20000-crore-for-fishermen-5272791.html

File image Finance Minister Nirmala Sitharaman on May 15 said an amount of Rs 20,000 crore will be reserved for the welfare of fishermen through the Pradhan Mantri Matsya Sampada Yojana (PMMSY) Sitharaman was addressing a press conference to announce the third tranche of the economic stimulus package covering agriculture, fisheries and allied activities. PMMSY scheme will be launched for integrated sustainable and inclusive development of marine and inland fisheries. Rs 9,000 crore has been reserved for the development of infrastructure in fishing harbours, cold chains as well as markets. The registration of the 242 shrimp hatcheries and rearing hatcheries have been extended for the next three months while marine capture fisheries and aquaculture has been relaxed to cover inland fish farming. The scheme is expected to help with providing employment to over 55 lakh people and increase production to 70 lakh tonnes over the next five years. This is also expected to result in exports doubling to Rs 1 crore. The FM also said that all COVID-19 related deadline extensions have been honoured including overseas contracts.

third tranche of economic stimulus package to be launched for agriculture, fisheries and allied activities. scheme is expected to provide employment to over 55 lakh people. it is expected to increase production to 70 lakh tonnes over the next five years. the scheme is expected to result in exports doubling to Rs 1 crore. 'all COVID-19 related deadline extensions have been honoured including overseas contracts,' he said.

Positive

https://www.moneycontrol.com/news/business/markets/gold-futures-up-on-positive-cues-4398411.html

Gold prices rose 0.07 percent to Rs 39,115 per 10 gram in futures trade on Tuesday as speculators widened their bets, tracking a firm trend overseas. On the Multi Commodity Exchange, gold for delivery for October contracts traded higher by Rs 28, or 0.07 percent, to Rs 39,115 per 10 gram in a business turnover of 3,690 lots. The yellow metal contracts for the December delivery, however, traded lower by Rs 17, or 0.04 percent, to Rs 39,570 per 10 gram in a business turnover of 172. Analysts said the rise in gold prices was mostly on the back of fresh positions built up by the participants taking positive cues from global markets. Globally, gold prices rose 0.39 percent at USD 1,535.40 an ounce in New York.

gold futures trade rose 0.07 percent to Rs 39,115 per 10 gram. yellow metal contracts for the December delivery traded lower by Rs 17, or 0.04 percent. gold prices rose 0.39 percent at USD 1,535.40 an ounce in new york. gold prices rose 0.39 percent at USD 1,535.40 an ounce in new york. speculators took positive cues from global markets.

Positive

https://www.businesstoday.in/markets/market-perspective/share-market-updates-sensex-nifty-live-stock-market-news-on-july-2/story/408649.html

Sensex, Nifty Updates Sensex and Nifty closed majorly bullish on Thursday, amid positive global European and Asian equities. Positive news around the development of a potential coronavirus vaccine also kept gain momentum in equity markets worldwide. Extending gains for second straight session, Sensex closed 429 points higher to 35,843 and Nifty rose 121 points higher at 10,551, led by gains in financials and auto stocks. Yesterday, benchmarks closed majorly bullish. The BSE Sensex closed 498.65 points, or 1.43 per cent, up at 35,414.45, while the NSE Nifty settled 127.95 points, or 1.24 per cent, higher at 10,430.05. Here's a look at the updates of the market action on BSE and NSE today 3. 55 PM: Closing Sensex and Nifty closed majorly bullish on Thursday, amid positive global European and Asian equities. Positive news around the development of a potential coronavirus vaccine also kept gain momentum in equity markets worldwide. Extending gains for second straight session, Sensex closed 429 points higher to 35,843 and Nifty rose 121 points higher at 10,551, led by gains in financials and auto stocks. 3. 39 PM: Rupee outlook On rupee near term outlook, Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking said," Today, Rupee is trading above 3 month high and trading at 74.88 levels on the expectation of positive outcome over India China tension. Positive equity markets and expectation of recovery from potential covid-19 vaccine. Progress on the vaccine front is also supportive for rupee. We expect Rupee may trade positive further and it may test 74.70 to 74.50 levels towards appreciation." 3. 28 PM: Axis Bank share price declines in trade Axis Bank share price fell after two sessions of gain today despite the lender' s board clearing the proposal to raise up to Rs 15,000 crore to increase capital buffers amid coronavirus pandemic. Share price of Axis Bank fell 2.76% to Rs 421.30 against previous close of Rs 433.25 on BSE. Axis Bank share trades higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. Axis Bank share falls 3% despite board's nod to raise Rs 15,000 crore 3.09 PM: Pfizer share price climbs 8.5% Pfizer share price surged over 8% in Thursday's session after the its US parent firm said one of its Covid-19 vaccines showed encouraging results. The COVID-19 vaccine developed by German biotech firm BioNTech and the US pharmaceutical giant has shown potential and was found to be well tolerated in early-stage human trials testing of 45 people. On Wednesday night, Pfizer stock also gained 4.4% to $34.13. Pfizer share price climbs 8.5% as parent's potential Covid-19 drug shows positive result 2. 57 PM: Sebi sets up revised structure for preferential issue pricing methodology Market regulator Sebi has put in place a revised framework that provides for a relaxed pricing methodology for preferential issuance of shares, in a bid to make fund raising easier for corporates amid the coronavirus pandemic. Besides, the regulator has allowed acquisition of shares through stock exchange settlement process by way of bulk or block deals during an open offer subject to certain conditions. Market regulator Sebi sets up revised structure for preferential issue pricing methodology 2.44 PM: Rupee ends higher Rupee, the local currency ended at 75.01 per US dollar against Wednesday's close of 75.59 per US dollar. 2. 23 PM: Market gains momentum Sensex and Nifty traded majorly bullish by teh afternoon session on Thursday, amid positive global European and Asian equities. Extending gains for second straight session, Sensex climbed 516 points higher to 35,915 and Nifty rose 138 points higher at 10,569, led by gains in financials and auto stocks. Yesterday, benchmarks closed majorly bullish. SGX Nifty was also rising 50 points higher at 10,457, indicating positive trend in domestic ground. 2.00 PM: Pfizer shares climb 8.5% Pfizer share price surged over 8% on Thursday's morning session after the company's US-arm said that one of its Covid-19 vaccines showed encouraging results. The COVID-19 vaccine developed by German biotech firm BioNTech and the US pharmaceutical giant has shown potential and was found to be well tolerated in early-stage human trials testing of 45 people. 1. 46 PM: Goldman Sachs sees oil demand recovering to pre-COVID levels by 2022 Goldman Sachs said on Thursday a pick-up in commuting, a shift to private transportation and government efforts to improve economies with higher infrastructure spending should help global oil demand return to pre-coronavirus levels by 2022. Demand is expected to fall by 8% this year, before rebounding 6% in 2021 and fully recovering to pre-pandemic levels by 2022, the U.S. bank said in a note. Goldman Sachs sees oil demand recovering to pre-COVID levels by 2022 1. 39 PM: Nifty outlook Angel Broking in its technical report said, "Technically speaking, index managed to come out of its recent congestion zone after surpassing the sturdy wall of 10350-10360. We witnessed a series of higher highs higher lows on hourly chart and hence, the chart structure looks a bit encouraging. Looking at the overall set up, ideally we should make a move towards 10450-10500 in coming trading session. Any decline towards 10360-10320 should be interpreted as a buying opportunity." 1. 23 PM: India's gold imports tumble 86% India's gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said. Coronavirus fallout: India's gold imports tumble 86% to 11 tonnes in June 1.03 PM: Gold outlook Commenting on the surge in gold prices, Hareesh V, Head commodity Research at Geojit Financial Services said, "Escalating geopolitical tensions, concerns of a quick global economic recovery and a weak US dollar will continue to lift the safe haven demand and thus prices of gold. However, investors may take a cautious stance ahead of the key US employment data scheduled later during the day." On its technical outlook (London spot), he added," As long as prices stay above $1710 we can expect the bullish outlook to continue in the counter. The immediate downside reversal point is $1664". 12.49 PM: Eveready Industries share price rose over 9% Eveready Industries share price rose over 9% today after the firm reported a three-fold rise in net profit for FY 20. Eveready Industries share hit fresh 52 week high of Rs.94.8 today The share has been gaining for the last 2 days and risen 9.52% in the period. The stock opened with a gain of 9.15% today The microcap stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Eveready Industries share price hits 52-week high on strong Q4 earnings 12.35 PM: IRCTC, Texmaco Rail shares rally Railways stocks gained in early trade today after the Ministry of Railways invited proposals from private entities to run passenger trains. Titagarh Wagons share price rose 4.95% to Rs 36.05 against previous close of Rs 34.35 on BSE. Texmaco Rail stock too gained 17% to Rs 30.70 against previous close of Rs 26.05. Similarly, share price of Cimmco was locked in upper circuit of 10% at Rs 18.70 on BSE. IRCTC stock rose up to 7.29% to Rs 1,462 against previous close of Rs 1363.35 on BSE. On Wednesday, Indian Railways initiated the process of allowing private players to operate certain trains on its network. IRCTC, Texmaco Rail shares rally after private entities invited to run passenger trains 12. 12 PM: Gold in commodity market falls on profit booking Gold August Futures on Multi Commodity Exchange traded lower on profir booking, tracking losses from international markets. Gold August Futures fell by Rs 75 at 48,188 today, after rising to the intraday high of Rs 48,982 per 10 gm on Wenesday. The precious metal today opened at Rs 48,174. per 10 gm and also touched a day's high of Rs 48,223 per 10 gm as against the previous closing of 48,267 per 10 gm. Overseas, Gold price slipped from near 8 year high over news of potential coronavirus vaccine and better US economic data. Spot gold fell 4.5% to $1,768 per ounce today, after nearing an eight-year high at $1,800 per ounce on Tuesday night. 12. 20 PM: Gold prices in retail market hit 50 K Gold prices in India hit fresh record high of Rs 50,000 per-10gm on domestic retail market on Thursday tracking the spike in coronavirus cases worldwide and in domestic grounds. Concerns over economic impact of rising coronavirus infections in many countries, especially in the two largest economies-US and China has driven investment inflows into safe-haven assets like gold. Retail gold price in Mumbai also breached the Rs 50,000-per-10gm mark today. Gold prices have risen by 25% since the beginning of 2020. Traders said India recording the highest spike in a day despite weeks of lockdown has also led the price for the risk-averse asset reach 50 K mark in domestic market. 12.00 PM: Rupee rises today The rupee appreciated 10 paise to 75.50 against the greenback on Thursday's opening bell, tracking weakness in the greenback and gains in the domestic equity market. Besides positive domestic equities and weak US currency that supported the local unit, investor sentiments strengthened after Pfizer reported encouraging vaccine test results. The local unit opened at 75.51 per US dollar and later gained further ground to touch 75.50 against the US dollar, up 10 paise over its previous close of 75.60 on Wednesday. Rupee rises 10 paise to 75.50 amid weak dollar, positive equity market 11. 36 AM: Market update Traders said advanced today, tracking gains in global equities as positive macroeconomic data flow and hopes of a COVID-19 vaccine boosted investor sentiment. 11. 21 AM: Coronavirus toll Worldwide, the number of cases linked to COVID-19 crossed 1.06 crore, while the death toll topped 5.15 lakh. In India, the number of infections spiked to 6,04,641, according to the health ministry. The death toll due the disease rose to 17,834. 11.00 AM: Top gainers and losers ONGC, followed by M&M, IndusInd Bank, HDFC Bank, SBI and Titan were among the top gainers in the Sensex pack. On the other hand, Tech Mahindra and HUL were the top laggards. 10. 33 AM: Rupee opens higher Rupee, the Indian currency opened at 75.50 per dollar as against Wednesday's close of 75.59 per dollar today 10. 12 AM: Axis Bank top gainer Axis Bank's has been trading as the top gainers on NSE in recent sesssions after the lender said its board is set to meet on Thursday to mull over fundraising plans through issue of preferential or convertible shares to investors. 9. 53 AM: Oil prices decline today Oil prices were falling on Thursday after the US recorded its biggest one-day spike in coronavirus cases and California reimposed some lockdown measures, raising fears that spike in COVID-19 cases will stall a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 10 cents, or 0.3 percent, to $39.72 a barrel, while Brent crude futures eased 6 cents, or 0.1 percent, to $41.97 a barrel. 9. 45 AM: Market Update Led by gains in financials and auto stocks, Sensex and Nifty traded on a bullish note on Thursday, extending yesterday's rally amid positive global cues. SGX Nifty was also rising 50 points higher at 10,457, indicating positive trend in domestic ground. Positive news around the development of a potential coronavirus vaccine also kept gain momentum in equity markets worldwide. Extending gains for second straight session, Sensex climbed 189 points higher to 35,604 and Nifty rose 63 points higher at 10, 493. 9. 30 AM: Global cues All major Asian indices were trading higher on Thursday, tracking gains from Wall Street, banking on hopes of a vaccine for COVID-19. However, sentiment were cautious ahead of US employment data release. 9. 26 AM: Top gainers and losers Axis Bank, M&M, IndusInd Bank, Bajaj Finance and L&T were the top gainers on Nifty50 index today. On the contrary, HUL and Kotak Bank were the only losers. 9. 15 AM: Opening session Sensex and Nifty opened on a bullish note, extending yesterday's rally amid positive global cues. SGX Nifty was also rising 50 points higher at 10,457, indicating positive trend in domestic ground. Sensex climbed 189 points higher to 35,604 and Nifty rose 63 points higher at 10, 493. 9. 10 AM: Nifty outlook As per Reliance Smartmoney Reserch, NSE-NIFTY regained 10,400 mark and rose to 6-day closing high on back of strength in the banking and finance sectors. Due to recent up-move its key technical indicators turned in favour of bulls. The index is on a verge of break-out as any stable move above 10,440 mark will strengthen the index to surpass its swing high (10,550 level) and will also support to test prior high connecting rising trend line, which is now placed around 10,650 mark. In case of any decline, the index will find support around its lower band of the base (10,180 level). As for the day, support is placed at around 10,265 and then at 10,180 levels, while resistance is observed at 10,550 and then at 10,650 levels. 9. 05 AM: Stocks in news today Dixon Tech, Tata Motors, M&M, Coal India, Eveready, Polycab, Ashok Leyland, Hero MotoCorp among others are the top stocks to watch out for in Thursday's trading session Stocks in news: Dixon Tech, Tata Motors, M&M, Coal India, Eveready, Polycab, Ashok Leyland, Hero MotoCorp 8. 55 AM: Global cues to dictate market Global market trends will continue to dictate the domestic markets, in the absence of any major domestic event. Investors will continue to keep a close eye on India-China border dispute; any fresh escalation might not go well with the markets. Ahead of share market: 5 things to know before opening bell on Thursday 8. 45 AM: Market Expectations Sensex and Nifty are likely to open higher amid positive global cues and SGX Nifty, that trades 50 points up at 10,457. 8.35 AM: Closing Sensex and Nifty closed majorly bullish by the afternoon session on Wednesday, tracking gains in index-heavyweights Reliance Industries, HDFC and ITC amid positive cues from global equities. Sensex ended 498 points higher to 35,414 and Nifty was trading 127 points higher at 10,430. Sensex gains 498 points, Nifty at 10,430; HDFC, Bajaj Twins top gainers

Sensex and Nifty closed majorly bullish on Thursday, amid positive global equities. positive news around the development of a potential coronavirus vaccine kept gain momentum. yesterday, benchmarks closed majorly bullish. Sensex closed 498.65 points, or 1.43 per cent, up at 35,414.45, while the NSE Nifty settled 127.95 points, or 1.24 per cent, higher at 10,430.05.

Positive

https://economictimes.indiatimes.com/markets/forex/make-europe-great-again-recovery-fund-to-reverse-euros-fortunes-bofa/articleshow/76088597.cms

LONDON: The European Union's recovery fund proposal has been dubbed the "Make Europe Great Again" fiscal spending package by analysts at BofA , who said that it was the best shot at ending the region's equity bear market and reversing the US dollar's rally.BofA said the "Make America Great Again" policy pushed by US President Donald Trump to boost the American economy had supported the dollar until now, and "Make Europe Great Again", or "MEGA", is now likely to help the euro The European Commmission on Wednesday proposed to offer 500 billion euros in grants and 250 billion euros in loans in a recovery fund for the region's coronavirus-hit economies.The news triggered a rally in the euro, in European equities and in southern European bonds. The euro has now jumped 1.8 per cent against the dollar this week to its highest levels since late March.BofA's weekly analysis of fund flow data flagged up a $12.8 billion move into investment grade credit funds and $6.9 billion flows into high-yield credit.Equities saw $3.8 billion in outflows while emerging markets continued to bleed cash, losing another $1.6 billion, but it was the market's smallest outflow in six weeks.Crunching numbers to scale the impact of the virus on the world economy, BofA noted that global GDP had seen $10 trillion in losses, policy stimulus so far has totalled $18 trillion and there have been 122 interest rate cuts globally.

european commission proposes 500 billion euros in grants and 250 billion euros in loans. euro has jumped 1.8 per cent against the dollar this week to its highest levels since late march. analysts say it is best shot at ending the region's equity bear market and reversing the dollar's rally. equities saw $3.8 billion in outflows while emerging markets continued to bleed cash.

Positive

https://economictimes.indiatimes.com/news/economy/agriculture/fertiliser-retailers-told-to-accept-digital-payments/articleshow/76779511.cms

MUMBAI: Over 250,000 fertiliser retailers will have to accept Unified Payments Interface ( UPI ) payments at their distribution points soon.The Ministry of Chemicals and Fertilizers’ ( MoCF ) directive comes amid the crucial Kharif cropping season and is aimed at promoting digital payments in the largely cash-dominated agricultural trade markets.The objective could also be to provide millions of farmers an option to make contactless payments to meet social distancing norms in the backdrop of the Covid-19 pandemic.“In order to promote digital transactions in DBT (direct benefit transfer) in fertilisers, it has been decided by the Department of Fertilisers (DoF) to implement cashless payment system at all fertiliser retailers for the sale of fertilisers,” the circular dated June 30 to all state coordinators and fertiliser companies, read.ET has reviewed a copy of the circular.In the first phase of deployment, all licenced retailers providing subsidised fertilisers to farmers have been asked to facilitate UPI QR stickers at their outlets within the first two weeks of this month.

over 250,000 fertiliser retailers will have to accept UPI payments. the move comes amid the crucial Kharif cropping season. the aim is to promote digital payments in the cash-dominated agricultural trade markets. the aim could also be to provide millions of farmers an option to make contactless payments to meet social distancing norms. in the first phase of deployment, all licenced retailers providing subsidised fertilisers to farmers have been asked to facilitate UPI QR stickers at their outlets within the first two weeks of this month

Positive

https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-hanging-man-like-pattern-shows-promise/articleshow/64918588.cms

NEW DELHI: Nifty50 was on a high on Monday as it settled around the day’s high point after seeing a gap-down opening. The index broke out of a downsliping trend and closed above the 10,850 level. It ended up forming a Hanging Man-like pattern on the day chart.The index surpassed its falling supply trend line formed by connecting the swing highs of 11,171, 10,929, 10,837 and 10,816 levels, but needs to show more strength to put the bulls in the driving seat.If it holds above 10,777, Nifty can extend gains towards 10,888, said Chandan Taparia of Motilal Oswal Securities. Supports are seen at 10,770 and 10,720 levels, he said.For the day, the index rose 80.25 points, or 0.74 per cent, to 10,852. A further rise from here could have a strong positive impact on the market ahead.“Nifty’s short-term trend is positive. After showing a sideways rangebound movement over last few weeks, if Nifty manages to move above the 10,850-900 range in the next few sessions, the possibility of a sharp upside in near term cannot be ruled out,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.Multiple technical parameters are slowly tilting in favour of the bulls with a fresh buy signal on the daily MACD chart. Dips, if any, should be used as buying opportunities.“Even our wave counts are still pointing towards the possibility of a minor dip, as long as the Nifty50 trades below 10,893 level, to culminate the corrective structure in the form of a contracting triangle with a higher bottom somewhere above the 10,557 level,” said Mazhar Mohammad of Chartviewindia.in.Such a pattern will eventually be followed by a big breakout, opening the doors for retest of the lifetime highs placed around the 11,171 mark, Mohammad said.

index reaches 10,850 level after closing above falling supply trend line. if it holds above 10,777, it can extend gains towards 10,888. a further rise from here could have a strong positive impact on the market. a dip in the index could eventually lead to a big breakout. the index rose 80.25 points, or 0.74 per cent, to 10,852.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/sebi-releases-framework-for-regulatory-sandbox/articleshow/76221465.cms

New Delhi: Capital markets regulator Sebi on Friday released guidelines for the regulatory sandbox, enabling entities regulated by the watchdog to test their new solutions in a live environment and on a limited set of real customers with necessary safeguards.The move is aimed at encouraging adoption and usage of financial technologies to further develop and maintain a transparent securities market ecosystem, according to Sebi.To encourage innovation with the minimal regulatory burden, Sebi said regulatory relaxations from various regulations may be provided after analyzing specific sandbox testing applications.Under the guidelines, entities regulated by Sebi will be granted certain facilities and flexibilities to experiment with financial technologies solutions in a live environment and on a limited set of real customers for a limited time frame, a circular said.These features will be fortified with necessary safeguards for investor protection and risk mitigation, Sebi said in a circular.Coming out with detailed guidelines pertaining to the functioning of the regulatory sandbox, Sebi said all entities registered with the regulator shall be eligible for testing in the regulatory sandbox."The entity may either on its own or engage the services of a FinTech firm. In either scenario, the registered market participant shall be treated as the principal applicant," Sebi said.On regulatory exemptions, the regulator said it shall "consider exemptions/ relaxations, if any, which could be either in the form of a comprehensive exemption from certain regulatory requirements or selective exemptions on a case-by-case basis, depending on the FinTech solution to be tested."Within the overarching principles of market integrity and investor protection, no exemptions would be granted from the extant investor protection framework, Know-Your-Customer (KYC) and Anti-Money Laundering (AML) rules.Regrading eligibility criteria of the project, Sebi said the solution should be innovative enough to add significant value to the existing offering in the Indian securities market and should have a genuine need for live testing the solution on real customers.In addition, before applying for testing in sandbox, limited offline testing of the solution should have been carried out by the applicant, the solution should offer direct benefits to users and there should be no risks to the financial system.Besides, the eligibility criteria also include the test readiness of the solution and the applicant should demonstrate the intention and ability to deploy the solution on a broader scale.The applicant, upon ensuring that the eligibility criteria are satisfied, is required to submit the application form in the format prescribed by Sebi. It also gave a detailed application, approval and evaluation process.Sebi has also come out with a framework on submission of test-related information and reports, obligations of the applicants towards the user and extension or exit from the sandbox.The regulator has also listed out specific conditions under which the approval to participate in the sandbox may be revoked.In addition to revocation of approval, appropriate actions may be initiated against the applicant if it facilitates undermining of KYC principles, violation of user's or investor's privacy, promotion of the sale of fraudulent or illegal products, services, promotion of mis-selling of products or services, violation of AML norms, creation of risk to financial stability and theft of intellectual property.

sebi: entities regulated by the watchdog can test their new solutions in a live environment. the move is aimed at encouraging adoption and usage of financial technologies. the regulatory sandbox will allow entities to experiment with financial technologies solutions. the features will be fortified with necessary safeguards for investor protection and risk mitigation. the entity may either on its own or engage the services of a FinTech firm.

Positive

https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sgx-nifty-indicates-gap-up-opening-for-indian-indices-3119841.html

November 02, 2018 / 03:40 PM IST Sensex ended the day at 35,011, surging 579 points or 1.68 percent, whereas the Nifty jumped 172 points to close at 10,553, 1.66 percenthigher than the previous day.Both benchmark indicesclosed the week 5 percent higher. Auto, Banks and FMCG ended the day higher. Nifty Auto surged 4.15 percent, Nifty Bank gained 4.49 percent and Nifty FMCG jumped 1.7 percent. The corresponding sectoral indices on the BSE gained 4.05 percent, 1.42 percent and 1.52 percent, respectively. Sectoral indices for IT, Pharma and PSU banks closed the day in the red. The biggest gainer on Sensex wereMaruti Suzuki which gained 6.4 percent, Tata Motors which spiked 6.3 percent andVedanta which jumped 6 percent. IT majors Wipro, TCS and Infosys were biggest losers. The biggest gainers on Nifty were BPCL (6.2 percent), Maruti Suzuki (6.3 percent), Vedanta (6.2%), Tata Motors (6 percent) and IndusInd Bank (5.3 percent). Among the biggest losers on the index were Tech Mahindra, Wipro and Dr Reddy’s Lab. The 'Muhurat' trading, which is conducted on the auspicious occasion of Diwali, will be held between 1700 hours and 1830 hours on November 7, the stock exchanges said.

Sensex ended the day at 35,011, surging 579 points or 1.68 percent. the Nifty jumped 172 points to close at 10,553, 1.66 percenthigher than the previous day. Sensex surged 6.4 percent, Tata Motors 6.3 percent and Vedanta 6.2 percent. Among the biggest losers on the index were tech Mahindra, Wipro and Dr Reddy’s Lab.

Positive

https://www.financialexpress.com/industry/unilever-emerges-as-leading-bidder-for-glaxosmithklines-indian-horlicks-business-says-report/1396884/

Unilever PLC has emerged as the leading bidder in a tight contest for GlaxoSmithKline PLC’s Indian Horlicks nutrition business, two people familiar with the situation told Reuters on Wednesday. If it is able to clinch the deal, Unilever will trump fellow European consumer giant Nestle SA, which according to an Indian media report earlier on Wednesday was close to buying Horlicks and other GSK consumer healthcare assets in India. Unilever and GSK, which owns 72.5 percent of Indian business GlaxoSmithKline Consumer Healthcare Ltd, were in exclusive talks, the Financial Times reported on Tuesday, citing people familiar with the sales process. The acquisition will strengthen Unilever’s position in India, an emerging market whose growing population and rising wealth make it attractive in the long term for companies trying to offset weak growth in Western markets. GSK’s assets, which include the popular malt-based drinks Horlicks and Boost, is likely to fetch less than $4 billion, said people close the deal, who declined to be identified as the information is confidential. Read | Government to release GDP back series data today? Here’s what happened so far Earlier in the sale process, separate sources had told Reuters the assets could be valued at more than $4 billion. Some analysts considered the $4 billion valuation high considering the Indian market for so-called health drinks – mostly dietary supplements or flavour enhancers typically drunk with milk – is seeing a slowdown in growth. Urban Indian consumers are increasingly turning to healthier, less-sugary alternatives and natural products, analysts and industry sources said. Last month, Kraft Heinz Co agreed to sell its popular health-drink brands Complan and Glucon-D, along with a some other brands and factories, to Indian pharmaceuticals and consumer company Zydus Wellness Ltd for 45.95 billion rupees ($648.6 million). Still, Horlicks comfortably dominates the health-drinks market in India and a big consumer company with deep pockets is likely to give it a fresh lease of life, analysts and industry sources said. GSK is conducting a strategic review of its nutrition brands in India and expects to conclude the process by the end of 2018, a spokeswoman for GSK India told Reuters. A spokeswoman for Hindustan Unilever Ltd, Unilever’s Indian subsidiary, declined to comment when contacted by Reuters. A spokesman for Nestle India said the company would not comment on “speculation”. Other bidders include Coca-Cola Co, which has been looking to expand in emerging markets, sources previously told Reuters. ($1 = 70.8400 Indian rupees)

unilever is the leading bidder in a tight contest for the Indian Horlicks business. if it is able to clinch the deal, it will trump fellow european consumer giant Nestle SA. the acquisition will strengthen Unilever’s position in india, an emerging market whose growing population and rising wealth make it attractive in the long term.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/dalal-street-week-ahead-nifty-losing-momentum-stay-alert-ride-the-rally/articleshow/72914049.cms

The risk-on global setup, which had begun a week before, continued throughout the previous week as well. The resultant buoyant setup drove the Indian market higher, which ended at a new lifetime high.Though the momentum continued to falter, the market did not show any sign of retracement and, instead, continued to consolidate at higher levels. After experiencing rangebound movement over the past couple of days, Nifty ended the week with a net gain of 185 points, or 1.53 per cent.While we trade at near lifetime highs, there are a couple of points one should not lose sight of. Despite Nifty closing at its highs, the loss of momentum is very much visible on the charts, and this has resulted in the weakening of market breadth. Volatility index INDIA VIX has cooled off by a further 7.33 per cent to 12.32, and it now trades at one of its lowest levels in recent months. All these may not result in any immediate downtrend, but it is something that we should keep in mind and be aware of.The market is likely to see a quiet start to the coming week. Nifty continues to remain in the uncharted territory, and the 12,310 and 12,400 level will act as resistance, while supports will come in much lower at 12,170 and 11,900 levels. In the event of any corrective move, the trading range is expected to get broader than usual.The Relative Strength Index ( RSI ) on the weekly chart stood at 66.44; it remains neutral and does not show any divergence against the price. The weekly MACD is bullish, and it trades above the signal line. The PPO remains positive. A white body has emerged on the candles, though it does not represent any critical formation on the charts.Pattern analysis of the weekly charts showed Nifty has achieved a breakout after moving past the 12,100 mark on a closing basis. There is a clear loss of momentum on the charts, but as long as Nifty stays above the 12,100 mark, this breakout will continue to be in force.If we see continued uptrend over the coming week, we will need to keep in mind that the market remains somewhat overbought and over-extended on the charts. Such a formation has increased the possibility of the market taking a breather. It seems to be in for some consolidation at current level. Exercise prudence and resort to vigilant protection of profits at higher levels to avoid getting caught on the wrong foot in the event of any corrective move, if there is any. A cautious following of the uptrend is advised.In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (Nifty500 Index), which represents over 95 per cent of the free float market-cap of all the listed stocks.A review of Relative Rotation Graphs (RRG) showed that for the coming week, we will need to keep our focus on PSU Banks, Bank Nifty, Media, Metal, Pharma and Auto stocks. These sectors are placed at different places in the Improving and the Leading Quadrant and appear to be moving higher while maintaining their relative momentum.These groups may collectively present relative outperformance when benchmarked against the broader Nifty500 Index. The degree of their relative out-performance will vary because of their distance from the benchmark Nifty500 Index. The Energy group is on the verge of slipping in to the weakening quadrant.Alongside Energy index, the FMCG and the Consumption indices have also advanced further into the weakening quadrant. The Infrastructure index has further advanced into the lagging quadrant and these groups are likely to relatively underperform the broader market.The IT pack remains the worst performer and it is seen lying far in the lagging quadrant while attempting to stabilise. However, it is unlikely to show any significant performance over the coming week. The Financial Services pack has also advanced in the leading quadrant and is likely to display some resilience in the event of any corrective move in the market.Important Note: RRGTM charts show the relative strength and momentum for a group of stocks. In the above chart, they show relative performance against Nifty500 Index (broader markets) and should not be used directly as buy or sell signals.(Milan Vaishnav, CMT, MSTA is a Consultant Technical Analyst and founder of Gemstone Equity Research & Advisory Services, Vadodara. He can be reached at [email protected])

despite the loss of momentum, the market ended the week with a net gain of 1.53 per cent. the market is likely to see a quiet start to the coming week. the weekly RSI remains bullish and it trades above the signal line. the weekly MACD is bullish and it trades above the signal line. a white body has emerged on the candles, though it does not represent any critical formation.

Positive

https://www.financialexpress.com/money/mutual-funds/mutual-fund-investment-right-time-to-buy-mid-cap-funds-heres-why/1830243/

Small and mid cap funds are high beta in nature and they are suitable for investors with fairly high risk-taking capacity. High beta means both the return potential as well as the associated risks are high. Hence, for investors who wish to aim for higher than market returns, these are the ideal options as far as mutual funds are concerned. As far as the current market scenario goes, this seems to be an appropriate time to invest in small and mid cap companies. Though market timing is extremely difficult and subject to high probability of errors, yet an intelligent guesstimate of market trends is always useful in enhancing the portfolio returns. By various yardsticks, my estimate is that this year is likely to be a very bullish one for the broader markets. Firstly, the large and frontline stocks have already done very well over the last few months. Market sentiments and momentum suggest that this bullishness is set to last. The divergence between large caps and mid caps is at a historical high. This divergence has already led to buying emerge in shares beyond the main indices. All these are signs that this bull market has more legs to go and the mid cap space is set to outperform. Therefore, for investors who understand the risks associated with investing in smaller companies, this is truly a great time to invest in them. Investing in these companies requires a lot of research and knowledge. Since a majority of investors do not have time, ability or access to quality research, they are better off investing through the mutual fund route. While selecting appropriate funds which invest in smaller companies, investors must take the help of a competent financial advisor or do their own research. Important factors to consider are the relative outperformance of the scheme in comparison to its peers as well as the benchmark indices. Different bullish as well as bearish periods should be analysed to ascertain the schemes which have the best consistency of out performance. Size of the fund and it’s duration are other important criteria to help you zero in on the appropriate choice. Generally funds with relatively larger corpus and longer history are considered more stable and less risky. Expense ratio is another important factor as it directly impacts the return to investors. Avoid schemes where the fund manager or objectives have been recently changed. Due to its volatile nature only those funds which can be kept aside for many years should be invested in mid cap stocks and funds. Also, SIPs offer even better returns on these funds as compared to the front line ones as higher volatility usually results in better rupee cost averaging. Lastly, do remember that these funds are not suitable for risk-averse investors. To conclude, small and mid caps generally give very handsome returns and tend to outperform the large caps over a long period of time. This seems to be a very appropriate time to enter mid caps. Mid cap funds are somewhat easier to chose and invest rather than individual stocks in the same category. SIP in mid and small cap funds is a terrific way of creating long-term wealth. At the same time, this category of schemes is appropriate only for investors who can tolerate some risks in order to aim for higher returns. (By Ashish Kapur, CEO, Invest Shoppe India Ltd) (Disclaimer: These are the author’s personal views. Please consult your financial advisor before making any investment)

small and mid cap funds are high beta in nature and are suitable for investors with fairly high risk-taking capacity. this seems to be an appropriate time to invest in small and mid cap companies. divergence between large caps and mid caps is at a historical high. this is signs that this bull market has more legs to go and the mid cap space is set to outperform.

Positive

https://economictimes.indiatimes.com/markets/expert-view/there-is-a-lot-of-value-in-hpcl-and-market-will-realise-it-gradually-mk-surana/articleshow/72380935.cms

Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Marketing Officer Programme Visit Indian School of Business ISB Chief Technology Officer Visit Indian School of Business ISB Chief Digital Officer Visit Demand for petroleum products in the country will be going up at least till 2035-2040, says, CMD,. Excerpts from an interview with ETNOW.The market cap depends on the number of shares which are there in the market. BPCL had one additional bonus issue a long time back which we caught up with subsequently. But they have also got NRL and Cochin refinery, additional refineries which may be adding to the market cap and of course, aided by the current disinvestment news, which may be driving the market. Otherwise, both companies have equally good potential.Of course, it is difficult to predict how the stock market behaves. But I agree with you that there is a lot of value and slowly and gradually the market will realise that. Of course, if you remember, HPCL share had toughed 184 once upon a time, then it retracted. The moves have something to do with the market, something to do with the way the news on the oil sector moves. So there is a combination of the factors, but no denial of the fact that there is tremendous value in these stocks, But as I have said a number of times in the past that OMC stocks are difficult to value in.What you are saying is absolutely correct that what is in our control is a physical performance, the operational efficiencies, the logistic efficiencies, the energy efficiencies and that is what we try to achieve. HPCL has consistently demonstrated that the higher crude throughput, capacity utilisation, operational efficiency have resulted in our bottomline figures.As far as diesel is concerned, April to October was a negative figure. But November had been quite good. November is showing a growth of 9% in diesel which is quite a good growth and LPG is showing almost 25% growth. Overall, petroleum product is showing 10% growth but I would like to mention to you and to your viewers, that it is a combination of two factors.Last year Diwali was in November, this year it was in October. Also there was some pricing related issue. There was likelihood of pricing going down on LPG at least and so there was a lower growth on historical numbers in November. But that does not take away from the fact that diesel growth is quite good. Coming from negative 9%, diesel growth is a good sign for the market. Even the auto sector has been showing some positive signs in two-wheeler uptakes.Maybe two things; one thing is the value of joint ventures which has not been fully factored by the market because those are not listed entities. Second, people overweigh the impact of transportation fuel that is MS and HSD in the total valuation. There is always a concern in the mind of the investors but MS and HSD constitutes only a portion of the total business of the company.The others are not impacted by any regulatory events at all. So slowly and gradually the market is realising that and I am sure that the market will be able to factor in the right valuation for the companies.The intent of the government has been there for quite some time. The fuel market is independent and decontrolled. The MS and HSD prices had been moving in the direction of the international prices on a daily basis. Now a perception of the market whether it is moving in the same direction or not is a different issue. Otherwise, the domestic prices are largely aligned to the international prices of petrol and diesel on a rolling basis. It is a day-to-day change but with a 15-day holding average.In the last few years, the total demand of petroleum products had grown 4-4.5%. Diesel demand has grown in the range of 3-4% and petrol has grown in the range of 7-8%. Even in the current year, petrol is growing in the range of 7-8% while diesel has been negative so far. But in November, it has come positive.It is a well known fact that India is growing at the fastest space as far as the incremental demand of the energy in the country is concerned. India is going to be the third largest energy consumer in the world and by 2040, the total share of the energy demand of the country will be double of what right now, From around 5% of the world consumption, it will become around 11%. If we consider all these factors and also consider the impact of the technological disruption which may come in which includes EV, renewables and other forms of energy which may come into the system.If we assume that this is true and that is based on the various predictions which have been made by multiple international and national agencies, the total consumption of petroleum products in the country is in the range of 220 million metric ton. It is likely to almost double. It will be around 400 plus million metric ton by 2035 or 2040. We need to cater to this. In the total energy consumption, oil and gas sector continues to be having a share of around 30-31%.If we assume that is right then the country needs the refining capacity, country needs the marketing capacity and therefore it is imperative to invest in the refinery and the petrochemical sector. The petrochemical sector is growing almost at a rate that is higher than the GDP number. The per capita consumption of petrochemical in the country is one-third of the world average. It is around 10 kg per capita compared to around 30 kg per capita in the world.While earlier we used to consider only the petroleum products as the main thing to plan our refinery investments, nowadays every new investment which is planned considers petrochemical as an integral part of it. That is why our new refinery, let us say Barmer Refinery is coming with a refinery cum petrochemical complex right now in inception. It will have around 2 million ton of petrochemical products. Even the existing refineries are getting integrated with the petrochemical complexes with the brown-field expansions.Petrochemical integration improves the margins and also provides a hedge against any technological disruption which may likely to come on the transportation fuel side. So based on the data, analysis and prediction, there is still a demand for petroleum products in the country going up at least till 2035-2040. Before that, it will continue to grow and more so in India because of the large demography, large population, younger generation, upwardly mobile middle class and the various policy decision which the government has taken to boost the economy.So irrespective of the discussions on the alternative forms of energy, the country will continue to need all forms of energy to meet its demand and in that, oil and gas sector will continue to play an important role and we will need a growth on oil and gas sector. While a part of the incremental demand may come from alternative sources (with EV being one of the factors), but considering the convenience, infrastructure, cost and acceptability, it still has a long way to go.

BPCL shares have toughed 184 once upon a time, then it retracted. demand for petroleum products in the country will be going up at least till 2035-2040. BPCL has consistently demonstrated higher crude throughput, capacity utilisation. BP's share price has risen by 5% since january, a year before january.

Positive

https://www.businesstoday.in/latest/trends/box-offices-to-turn-redundant-in-new-normal-post-coronavirus-food-menus-to-be-truncated/story/403650.html

The ubiquitous box office in a cinema theatre from where one bought tickets to watch a film would be history in the new normal post the coronavirus lockdown. While multiplexes would probably be the last to bounce back in the new normal, multiplex companies such as PVR and Inox are going all out to make their properties safe for their patrons. Movie ticket buying will completely shift online, which is one of the many precautions these companies plan to take in order to offer a contactless experience. "Almost 60-70 per cent of our tickets are already booked online, now we are making box offices redundant in most properties. People will get QR codes on their phones, which they can flash in front of the security. At the security, we will have door frame metal detectors instead of hand-held metal detectors so that there is a distancing maintained," explains Ajay Bijli, MD, PVR. "There is no doubt that COVID has challenged the passion for cinema which is prevalent in our country. In order to serve them the safest experience, we have re-engineered most of our processes, ensuring that the responsibility to ensure entertainment is not compromised. I am sure these practices will slowly become an integral part of a consumer's behaviour," adds Alok Tandon, CEO, Inox Movies. Apart from temperature checks being done for both the patrons and employees, multiplex chains claim their spends would be up by 15-20 per cent for putting in place strict safety and hygiene practices. PVR, says Bijli, would be investing in a hygiene product which will keep the seat disinfected for 30 days. "There will be stickers on the seats to say that the seat was sanitised on a particular date. We are putting disinfectants even in the AC ducts. Our employees will also wear a badge saying that they have been tested and are safe. Our best-practices are better than what it is being practised even in the matured markets." While all of them are planning staggered seating in order to ensure physical distancing, Tandon of Inox also says that movie shows would be planned in such a way that entry, intermissions and exits to two shows don't occur simultaneously so that crowding of lobbies and restrooms can be avoided. Food and beverage contributed around 30-35 per cent of a multiplex company's revenue and prior to COVID-19, most of them had made huge investments on their F&B menu. From international cuisine offerings to live kitchens manned by teams of celebrity chefs, multiplex menus were as lavish as it could get. The new normal would be back to basics as far as multiplex menus are concerned. It will be back to the good-old popcorn and cold drinks. "We will truncate our menus, lot of the food will be pre-packed, which will help in reducing the waiting time at the food counters," points out Bijli. Staggered seating and truncating of menu cards will surely lead to a loss of revenue and it would take a long while for the multiplex business to revive. Bijli disagrees. "There is lot of misconception that our installed capacity will get reduced to half. It will not get reduced to half, it will get impacted by only 10-20 per cent," he says. "The lesser seats that we would sell and the lesser shows that we would run in our cinemas whilst sacrificing revenues, will be the investment of inventory that we will be making for gaining customer confidence, which will be our top priority," adds Tandon. With footfalls likely to be half of these multiplexes' actual capacity and revenue from F&B likely to be considerably muted, will the cinema-going experience get more expensive (average cost of a multiplex ticket is around Rs 200-Rs 300)? It is a blatant no from the multiplex head honchos. "We want to bring people back to the cinemas, we will not increase our prices," says Bijli.

multiplexes plan to make their properties safe for patrons. cinemas will be able to offer contactless access to their patrons. multiplexes will also be able to offer a'safety' product. a number of companies are planning to make their properties safer. a'safety' product will be installed on all of their properties.

Positive

https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-bull-run-continues-on-d-street-as-sensex-nifty-end-at-record-closing-highs-2786171.html

In what looked like a day of breather for the bulls on D-Street, tables turned in the last hour of trade as sharp buying ensured that the market maintained its positive momentum. Sensex and Nifty has managed to end the day at record closing highs again. In fact, the upmove also ensured that the market ended on an extremely strong note in July, gaining around 6 percent. The day’s gain was led by a surge in index heavyweights such as Reliance Industries as well as IT stocks, along with energy, metals and pharmaceutical names. Banks managed to underperform during the session, with the Nifty Bank being dragged by a fall in Axis Bank and ICICI Bank. Oil and gas major, Reliance Industries, managed to clock a fresh high and surpassed the market capitalisation of Tata Consultancy Services (TCS). It is now the most valued company in India based on market capitalisation. “Throughout the day the Nifty remained range bound and volatile, touching an intraday low of 11,268 in first half. However it found strong support at lower levels and managed to bounce back smartly in last hour of trade,” Jayant Manglik, President, Religare Broking said in a statement. Stocks in news Mukesh Ambani-owned conglomerate Reliance Industries surpassed country's largest IT company TCS to become the most valuable company by market capitalisation on bourses on Tuesday. The stock ended 3 percent higher. Axis Bank reported a 46 percent year-on-year (YoY) drop in net profit at Rs 701 crore for the first quarter ending June 2018. The stock ended over 3 percent lower. Shares of InterGlobe Aviation fell 7 percent after low cost carrier reported a massive 96.6 percent fall in first quarter net profit, dented by higher fuel prices and adverse impact of forex. BASF India ended 10 percent higher after it started off the financial year 2018-19 on a strong note as profit grew nearly 35-fold year-on-year, driven by strong operational performance in agricultural solutions and performance products. BEL’s shares ended 8 percent higher as it reported healthy performance for the quarter ended June 2018 as profit shot up 43.4 percent year-on-year to Rs 179.7 crore, driven by growth across the board. Avenue Supermarts, operator of D-Mart India, ended over 3 percent higher as the company reported a strong 43 percent rise in net profit for the March quarter at Rs 250.6 crore. The firm had reported Rs 174.8 crore profit during the same quarter of last year. Global Update Shares in Europe were mixed as investors looked to digest data points as well as corporate earnings. Stoxx 600 was flat in early deals, with the major bourses moving in different directions. Meanwhile, Asian markets closed mixed as they kept an eye on Bank of Japan's decision to keep policy steady. Tepid handover from Wall Street also weighed. Nikkei 225 moved into positive territory after Japanese central bank’s decision. “The market trend in the near term will be dictated by RBI monetary policy outcome. Considering the recent spike in the inflation rate, the fears of interest rate hike has increased. However the commentary on the future outlook of interest rates/inflation would hold importance. Further with on-going corporate earnings season stock specific volatility is likely to remain high. Hence, we would advise investors to stick to fundamentally sound companies and traders to remain cautious and keep their positions hedge,” Manglik further added.

Sensex and Nifty has managed to end the day at record closing highs again. the gain was led by a surge in index heavyweights such as Reliance Industries. banks managed to underperform during the session, with the Nifty Bank being dragged by a fall in Axis Bank and ICICI Bank. oil and gas major, Reliance Industries, managed to clock a fresh high and surpassed the market capitalisation of Tata Consultancy Services (TCS)

Positive

https://www.businesstoday.in/current/economy-politics/covid-19-pandemic-over-3-cr-n95-masks-128-cr-ppe-kits-10-cr-hcq-tablets-given-to-states-uts-for-free/story/412827.html

The government has distributed more than 3.04 crore N95 masks and over 1.28 crore personal protection equipment (PPE) kits among the states, Union territories and central institutions for free since March 11, the health ministry said on Thursday. Also, more than 10.83 crore hydroxychloroquine (HCQ) tablets have been distributed among them, it added. In addition, 22,533 "Make in India" ventilators have been delivered to various states, Union territories and central institutions, the ministry said, adding that the Centre is also ensuring the installation and commissioning of the machines. The central role of the government has been in strengthening the health infrastructure of the states and Union territories to fight the COVID-19 pandemic and ensure its effective management, the ministry underlined. Along with augmenting the COVID-19 facilities, the Centre is also providing medical supplies to the states and Union territories for free. "Most of the products supplied by the Government of India were not being manufactured in the country in the beginning. The rising global demand due to the pandemic resulted in their scarce availability in the foreign markets," the ministry said. With the combined efforts of the Ministry of Health, Ministry of Textiles, Ministry of Pharmaceuticals, Department for Promotion of Industry and Internal Trade (DPIIT), Defence Research and Development Organisation (DRDO) and others, the domestic industry has been encouraged and facilitated to manufacture and supply essential medical equipment such as PPEs, N95 masks, ventilators etc., it added. "As a result, resolve for 'Atmanirbhar Bharat' and 'Make in India' has been strengthened and most of the supplies made by the Union Government are domestically manufactured," the health ministry underscored. Also read: Coronavirus vaccine: No separate procurement for states; Centre to place order

government has distributed more than 3.04 crore N95 masks and over 1.28 crore PPE kits. more than 10.83 crore hydroxychloroquine (HCQ) tablets have been distributed among them. 22,533 "make in india" ventilators have been delivered to various states, territories. the central role of the government has been in strengthening the health infrastructure.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/sobha-climbs-5-post-q1-sales-numbers/articleshow/64879826.cms

Shares of Sobha Ltd climbed 5 per cent on Thursday as investors cheered an 18 per cent surge in new sales volume the realtor reported for the June quarter.New sales volume of the Bangalore-base real estate company jumped to 9,60,085 square feet in Q1FY19 over 8,15,230 square feet in Q1FY18.Bangalore region contributed 64 per cent of total sales volume during Q1FY19. The volumes in other locations increased by 56 per cent as compared to corresponding quarter of last year.Total sales value jumped by 22 per cent during the quarter under review, while Sobha’s share sale value increased 9 per cent year-on-year to Rs 611.8 crore in Q1FY19 against Rs 562.7 crore in the same quarter last year.In a BSE filing, the company said, “Sobha has entered the new financial year confidently with many new launches in the pipeline. During this quarter, we announced an investment of over Rs 500 crore towards residential development in Gujarat International Finance Tech-City (GIFT City) and have other launches planned in multiple cities over the next few quarters.”It further added that the markets of Bengaluru, Gurugram and Kochi continue to perform well and are ably supported by the Coimbatore and Mysore. During the first quarter, the company had launched one plotted development project namely, 'Sobha Meadows', in Mysore, measuring total saleable area of 0.13 million square feet.Also, it has received RERA approval for one of its Bangalore project during last week of June 2018, namely 'Sobha Lake Gardens' at Old Madras Road, having total saleable area of 0.89 million square feet. This project will be released for sale during July, 2018.The scrip was trading 4.44 per cent up at Rs 498 at around 10.45 am (IST).

new sales volume of the Bangalore-base real estate company jumped to 9,60,085 square feet in Q1FY19 over 8,15,230 square feet in Q1FY18. the volumes in other locations increased by 56 per cent as compared to corresponding quarter of last year. the scrip was trading 4.44 per cent up at Rs 498 at around 10.45 am (IST).

Positive

https://www.moneycontrol.com/news/business/markets/market-live-sensex-extends-gains-to-over-200-points-nifty-nears-10400-banks-trade-strong-2544831.html

3:30 pm Market Closing: Benchmark indices closed higher on positive global cues as trade war tensions eased. The 30-share BSE Sensex was up 161.57 points at 33,788.54 and the 50-share NSE Nifty rose 47.80 points to 10,379.40. Maruti Suzuki, HUL, ITC, IOC, HPCL and BPCL rallied up to 4 percent while Tata Motors, Infosys and Bharti Airtel were under pressure. Nifty Midcap index was up 65 points. Lemon Tree Hotels jumped 29 percent. Bombay Dyeing, Tata Global, Delta Corp, Jet Airways, Dish TV, Venky's, Godrej Agrovet, Take Solutions, Allahabad Bank, Union Bank and South Indian Bank gained up to 13 percent. Jaypee Infratech, Dalmia Bharat, Just Dial and Kajaria Ceramics fell up to around 3 percent. 3:20 pm Morgan Stanley on Titan: Morgan Stanley has maintained its Overweight rating on the stock with a target price at Rs 1,050, citing likely strong operating profit growth for jewellery and watch segments in Q4FY18. Revenue growth and operating profits for jewellery and watches have been strong and Titan will achieve its guidance of 2.5x jewellery business revenues by FY22, the global brokerage house feels. Morgan Stanely expects revenue/EBITDA/net profit to grow 16/63/55 percent in Q4FY18. 3:10 pm Buzzing: Nitesh Estates rallied more than 3 percent as the Company has obtained approval from Bangalore Development Authority ( BDA) for its Nitesh Virgin Island project. This project is spread around 8 acre of land will have high rise towers with high-class residential units, aggregating to over million sq.ft of development. The project will yield a turnover of around Rs 370 crore to the company, it said. 3:01 pm Market Update: Benchmark indices remained strong in afternoon, with the Sensex rising 177.90 points to 33,804.87 and the Nifty up 51.90 points at 10,383.50. About 1,600 shares advanced against 1,052 declining shares on the BSE. Nifty Bank, FMCG, PSU Bank and Private Bank indices gained 1 percent each. 2:50 pm Order Win: State-run transmission utility Power Grid Corporation said it has bagged project management consultancy contract of Rs 21 crore from Power Grid Company of Bangladesh. "Power Grid has secured project management consultancy contract for construction of 1x500 MW HVDC back to back station at Comilla North (Bangladesh) to transfer power through Surjamaninagar (India) - Comilla North (Bangladesh) with an estimated project cost of Rs 1,064 crore and consultancy fee of Rs 21 crore from Power Grid Company of Bangladesh (PGCB)," a Power Grid Corp of India said in a statement. 2:40 pm HDFC Securities pick of the week: Shares of Omax Auto were locked in 5 percent upper circuit as investors could be cheering a positive bet on the stock by HDFC Securities. The brokerage house has a buy call on the stock with sequential targets of Rs 189 and Rs 209. HDFC Securities also highlighted that the stock is its pick of the week, citing five rationales. The auto ancillary firm has reduced its dependence on revenues only from the two-wheeler segment and is also expanding its customer base. 2:30 pm Market Check: The markets have further advanced their gains now. The Sensex is trading higher by over 200 points, while the Nifty is just a few points away from 10,400. Strong gains are visible among banks, FMCG and infra names, while IT and pharma continue to be a drag. Axis Bank, IndusInd Bank and BPCL and HPCL gained the most on both indices, while Tata Motors DVR, Infosys, Zee Entertainment and Lupin were the top losers. 2:20 pm Update: Som Distilleries & Breweries has commenced commercial production in subsidiary company Woodpecker Distilleries and Breweries Private Limited at Hassan, Karnataka. 2:05 pm RPP Infra surges: Shares of RPP Infra Projects added 2 percent intraday Monday on order win worth RS 138.2 crore. The company has bagged an order from Maharashtra State Road Development Corporation of Rs 138.2 crore. The work include, rehabilitation & up-gradation of newly declared Badnera road Nagzari Kharda and Murtizapur to Kherda NH161E Section from Dastapur to Karanja Ch 29.074 to 60.374 to Two lane with paved shoulders in the State of Maharashtra on Engineering, Procurement & Construction (EPC) mode. The said work to be completed within 18 months. Here are the top headlines at 2 pm from Moneycontrol News' Anchal Pathak 1:50 pm Buzzing: DCM Shriram Industries is foraying into defence manufacturing. It is launching a light bullet proof vehicle (LBPV) — 'ZEBU' — for use by Indian Defence and Para-Military forces. The stock gained more than 3 percent. The company has successfully, designed, developed and tested a LBPV. The vehicle will be displayed in the forth-coming DEFEXPO 2018 at Chennai. The progress in the defence manufacturing project will be subject to the company's success in the bidding process of the concerned establishments. 1:40 pm Market Update: Benchmark indices continued to trade higher in afternoon, with the Sensex rising 161.42 points to 33,788.39, driven by banks (barring ICICI Bank), oil and FMCG stocks. The 50-share NSE Nifty rose 47.70 points to 10,379.30. About 1,565 shares advanced against 972 declining shares on the BSE. Oil retailers HPCL, BPCL and IOC gained around 4 percent each while Titan Company gained nearly 3 percent after Motilal Oswal feels Q4 turned out to be a good quarter for the jewellery division. Axis Bank extended gains, rising nearly 4 percent on value buying. Index heavyweight ITC was up 1.5 percent while HDFC, HDFC Bank and Reliance Industries rose over half a percent. Infosys fell 1.5 percent ahead of March quarter earnings that will be announced on Friday. 1:25 pm Result Date: Indusind Bank said a meeting of the board of directors will be held on April 19 to consider and take on record, the audited financial results for the quarter / financial year ended March 31, 2018 (FY18) and to recommend dividend, if any. 1:15 pm Buzzing: Integrated Capital Services's wholly owned subsidiary, BTG IP Services Private Limited (BTGIP), granted recognition by Insolvency and Bankruptcy Board of India (IBBI) for rendering services as in Insolvency Professional Entity (IPE) per Insolvency and Bankruptcy Code, 2016 (IBC). The stock gained 4 percent. 1:05 pm Market Check: Shares have extended their gains from the morning session, with the Sensex rising over 150 points, while the Nifty is seen advancing towards 10,400. Except for traditional defensives of pharma and IT, all other sectoral indices are trading in the green. Midcaps are underperforming the benchmarks, with gains of one third of a percent. IndusInd Bank, Axis Bank, HPCL and BPCL have gained the most, while Infosys, Tata Motors DVR and Zee Entertainment were the top losers. Here are the top headlines at 1 pm from Moneycontrol News' Sakshi Batra 12:58 pm Taking on the crypto ban: Indian cryptocurrency exchanges are considering to challenge the diktat of the RBI which prohibits entities under its regulation to work with companies which offer cryptocurrency services. Startups like Unocoin, Coinsecure and Zebpay have expressed their reservations with the order and going by the statements they are considering to mount a legal challenge in the Supreme Court. Coinsecure said that they were discussing the matter with industry stakeholders like Blockchain and Cryptocurrency Committee of India and the Internet and Mobile Association of India. 12:45 pm Buzzing Stock: Shares of DLF added 2 percent intraday Monday as foreign broking firm Morgan Stanley has resumed its coverage with equal-weight with a target of Rs 225 per share. According to Morgan Stanley, the company has restructured its business and improved its balancesheet, which can be potentially debt-free. The company appears to be fairly valued in terms of sector and earnings growth visibility, while the trigger will be strong sustained earnings/cash flows, it added. 12:22 pm Order Win: Reliance Infrastructure has received purchase order of Rs 1,081 crore from Nuclear Power Corporation of India for the engineering, procurement and construction (EPC) contract for common services system, structure & components (SSC) package and allied civil works of Unit -3 and 4 of Kudankulam Nuclear Power Project at Tirunelveli District in Tamil Nadu. 12:10 pm Land Development: Autoline Industries informed exchanges that Autoline Industrial Parks Limited (subsidiary of the company) has received letter of intent from Collector, Pune for commencing the development activities of the 'Proposed Special Township Project' of the subsidiary company spread in its 104 acre land located at Chakan, Pune. 12:05 pm Order Win: RPP Infra Projects bagged order from Maharashtra State Road Development Corporation Limited for worth of Rs 138.2 crore. The stock gained 1 percent. 12:01 pm Auto Sales: Jaguar Land Rover, the UK’s largest automotive manufacturer, reported retail sales of 6,14,309 vehicles for the financial year ended March 2018, up 1.7 percent on the prior year. New models including the Range Rover Velar and the all new Land Rover Discovery drove the increase, while the more recently launched 18 Model Year Range Rover and Range Rover Sport and the Jaguar E-PACE are still ramping up. Retail sales for the financial year were up year-on-year in China (19.9 percent), North America (4.7 percent) and in Overseas markets (3.4 percent) but down in the UK (12.8 percent) and in Europe (5.3 percent), primarily driven by continuing uncertainty over diesel. Retail sales for March were 83,732 and for the fourth quarter were 172,709 vehicles, down 7.8 percent and 3.8 percent, respectively, primarily due to lower UK sales and to a lesser extent lower sales in Europe. UK industry sales were down 15.7 percent in March and 12.4 percent in the quarter, more than explained by lower diesel sales, although March 2017 was an all-time industry record with increased sales in advance of an increase in vehicle taxes in April 2017. Here are the top headlines at 12 pm from Moneycontrol News' Anchal Pathak 11:50 am Result Date: Amara Raja Batteries said a meeting of the board of directors is scheduled to be held on May 18, 2018 to consider the approval of audited financial statements for the financial year ended March 31, 2018 and recommendation of dividend, if any, on the equity shares of the company for the financial year ended March 31, 2018. 11:40 am Market Update: The market remained firm in trade, with the Sensex rising more than 100 points and the Nifty inching towards 10,400 levels. Oil retailers HPCL, BPCL and IOC rallied more than 3 percent on steady crude oil prices Lemon Tree Hotels is up around 7 percent at Rs 59.75 against issue price of Rs 56 per share. Here are the top headlines at 11 am from Moneycontrol News' Sakshi Batra 10:59 am Steel Production: With the recently completed Basic Oxygen Furnace (BOF) at 5 MTPA integrated steel plant at Angul going operational, Jindal Steel and Power (JSPL) has posted its lifetime highest monthly crude steel production in the month of March 2018. With a steel production of 0.45 million tonnes in March in India, at its integrated steel plants in Raigarh and Angul, JSPL also achieved its highest ever quarterly steel production at 1.26 million tonnes in Q4FY18. JSPL also posted its highest ever monthly and quarterly sales by achieving 0.45 million tonnes in March and 1.18 MT during January- March (Q4) 2018. The figures do not include the crude steel production at Jindal Shadeed, Oman. 10:45 am Technical Recommendation: Dinesh Rohira, Founder & CEO, 5nance.com said after a steep decline from levels of 187 to 145 in the past trading sessions, Gravita India made a decent rebound in last week’s trading despite the weak market breadth. The scrip decisively broke out above its 50-days EMA level to form an uptrend channel on its weekly chart, and witnessed a strong volume growth to support uptrend. Despite failing to hold Friday’s high level placed at 178, the scrip formed a strong bullish candlestick pattern on its weekly price chart coupled with bullish crossover just happening at MACD and Signal Line. Further, weekly RSI level moved towards 61 level indicating a positive sentiment. The support level for scrip is currently placed at 162 and resistance level from the upper band at 197. We have a buy recommendation for Gravita India which is currently trading at Rs. 173.95 Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 10:34 am Market Update: Frontline indices continued to trade higher, with the Sensex rising 145.47 points to 33,772.44, driven by HDFC Bank, HDFC, Reliance Industries and ITC. The Nifty is inching towards 10,400 levels, rising 46.10 points to 10,377.70. The market breadth remained in favour of advances. More than two shares advanced for every share falling on the BSE. 10:25 am Rupee Trade: The rupee strengthened by 6 paise to 64.90 against the US dollar on fresh selling of the greenback by banks and exporters. Besides, a higher opening of the domestic equity market and weakness in the dollar against other global currencies, following data that showed the US economy created the least number of jobs in six months in March, supported the rupee, forex dealers said. The domestic unit had ended flat at 64.97 against the US dollar in a quiet range-bound trade on Friday as local equities consolidated their recovery momentum. 10:15 am Buzzing: Shares of Wipro rose 5 percent as the company sold its stake in Wipro Airport IT to Antariksh Softtech. The company sold 63 percent of its stake in Wipro Airport IT to Antariksh Softtech as part of divesture of the subsidiary for Rs 3,15,00,000. Wipro Airport IT Services, a joint venture between Wipro (74 percent) and Delhi International Airport (26 percent), which provides various IT Services at Indira Gandhi International Airport, New Delhi. Post the sale, company holds 11 percent stake in Wipro Airport IT, which will continue to outsource IT services of the airport to Wipro as per the existing arrangement. The company's meeting of the board of directors will be held over April 24-25, 2018 to consider and approve, audited standalone and consolidated financial results for the quarter and year ended March 31, 2018. It will also consider recommendation of final dividend, if any, for the financial year ended March 31, 2018. 10:05 am Listing Update: Lemon Tree Hotels share price is trading at Rs 60.25 on the National Stock Exchange, up 7.6 percent from issue price of Rs 56. Here are the top headlines at 10 am from Moneycontrol News' Anchal Pathak 10:00 am Bank of India closes branch: Bank of India said the Central Bank of the UAE has allowed to closure of our Dubai Representative Office. 9:52 am Lemon's Pre-Opening: Lemon Tree Hotels share price settled at Rs 61.60, up 10 percent over issue price of Rs 56 on the National Stock Exchange. 9:42 am Buzzing stocks: ICICI Bank fell 2 percent as a media report indicated that directors are likely to meet this week and to discuss the way ahead for CEO Chanda Kochhar. The ICICI Bank-Videocon case will be in focus this week since April 10 is the last date for reply of the showcause notice issued by the Income Tax Department. The Ministry of Corporate Affairs is also studying the complaint forwarded by the Serious Fraud Investigation Office in relation to the ICICI-Videocon case. 9:30 am Market Update: Benchmark indices extended early gains, with the Sensex rising 124.15 points to 33,751.12 and the Nifty gaining 44.90 points at 10,376.50. About four shares advanced for every share falling on the BSE. 9:20 am Order Win: L&T Technology Services, a leading global pure-play engineering R&D services company, has signed an agreement with ExxonMobil Exploration Company, valued at more than USD 20 million in the first year. “Combining our Hydrocarbon heritage, geospatial domain understanding and our digital engineering expertise, we are ideally positioned to help ExxonMobil in this initiative. Our solutions will provide geoscientists accelerated insights into their subsurface data. This in turn maximizes asset utilization, minimizes data pr eparationtime and reduces total cost of ownership,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited. 9:17 am Jubilant Foodworks gains 2%: CLSA has retained a buy call on the stock with a target of Rs 2,800. CLSA said that a change in GST will overstate same store sales growth and understate margins. It forecasts a 23 percent rise in Q4 same-store-sales growth. It highlighted that the firm is a strong play on recovery in consumer sentiment. 9:15 am Market Update: Benchmark indices opened mildly higher on Monday, tracking positive lead from Asian stocks. The 30-share BSE Sensex rose 23.46 points to 33,650.43 and the 50-share NSE Nifty gained 3.20 points at 10,334.80. Cipla, Titan Company, Yes Bank, Hindalco, Indiabulls Housing Finance, SBI, Bajaj Finance and Axis Bank were early gainers. ICICI Bank fell more than 1.5 percent due to concerns related to top post. Electrosteel Steels, IDBI Bank, Union Bank, Allahabad Bank, Syndicate Bank, UCO Bank, Binani Industries, L&T Technology, DHFL, L&T Finance and Shriram Transport gained up to 4 percent. 9:07 am USFDA Approval: Alembic Pharmaceuticals announced that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acyclovir ointment USP, 5 percent. The approved ANDA is therapeutically equivalent to the reference listed drug product Zovirax ointment 5 percent, of Valeant Pharmaceuticals North America LLC. Acyclovir ointment USP, 5 percent is indicated in the management of initial genital herpes and in limited non-life-threatening mucocutaneous Herpes simplex virus infections in immunocompromised patients. 9:05 am Technical Recommendations: We spoke to 5nance.com and here’s what they have to recommend: Gravita India Ltd: BUY| Target Rs192 | Stop-loss Rs165 | Return 10% Nath Bio-Genes Ltd: BUY| Target Rs574 | Stop-loss Rs530 |Return 6% Adani Transmission Ltd: SELL | Target Rs170 | Stop Loss Rs184 |Return 5% Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 9:02 am Stocks in news: Wipro sold 63% of its stake in Wipro Airport IT to Antariksh Softtech Akzo Nobel: The Board has recommended a share buyback to the tune of Rs 235.20 crore. Dabur India: The firm has completed the acquisition of two personal care products firms in South Africa. Lemon Tree Hotels to make debut today State Bank of India: Bank puts 15 NPAs worth Rs 1,063 crore for sale Punjab National Bank: Bank puts 15 NPAs worth Rs 1,063 crore for sale Shree Renuka Sugars: Company to divest Brazilian operations Dewan Housing Finance: Company plans to raise up to Rs 1,000 crpre via debentures on private placement basis Also Watch - Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which can give up to 10% return Ballarpur Industries: Company to sell Malaysian unit for USD 310 million (approx Rs 2,011 crore) 9:00 am Market Check: Benchmark indices started off the week on a positive note, tracking recovery in Asian stocks and shrugging off weak cues from Wall Street. The 30-share BSE Sensex was up 87.99 points at 33,714.96 and the 50-share NSE Nifty rose 47.70 points to 10,379.30. However, trends on SGX Nifty indicated a negative opening for the broader index in India, a fall of 5 points. Binani Industries was up 3.6 percent and GMR Infrastructure gained 9 percent. US stocks dropped about 2 percent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China, Reuters reported. Asian shares started flat on Monday as US President Donald Trump kept up his twitter war with China over trade just a couple of days before President Xi Jinping gives a keynote speech on his policy priorities, Reuters reported. Losses across the region were minor with MSCI’s broadest index of Asia-Pacific shares outside Japan off just 0.05 percent. Japan’s Nikkei wavered either side of flat, and South Korea edged ahead by 0.1 percent.

30-share Sensex up 161.57 points at 33,788.54 and 50-share NSE Nifty rose 47.80 points to 10,379.40. maruti Suzuki, HUL, ITC, IOC, HPCL and BPCL rallied up to 4 percent. meanwhile, maruti Suzuki, HUL, ITC, ITC, IOC, HPCL and BPCL rallied.

Positive

https://economictimes.indiatimes.com/small-biz/sme-sector/small-town-retailers-go-digital-with-business-activity-back-to-normal-levels/articleshow/79036861.cms

MUMBAI: Business activity among the micro, small and medium enterprise sector is reaching near normal levels and they are adopting digital business tools to drive efficiency and growth, reveals data gathered by OkCredit According to data gathered by OkCredit basis the behaviour of the users, the micro retail players are increasingly taking up digital book-keeping solutions, as it makes this task simpler and there is a demand coming from small towns and hinterlands.In the unlock phase of Covid pandemic, OkCredit has witnessed a recovery in demand for its app from tier 3 cities followed by tier 2 and tier 1 cities. OkCredit’s business from tier 3 cities witnessed 33% growth in the period of February - September 2020 while Tier 2 and Tier 1 cities registered 30% and 28% growth respectively during the same time. This is after a dip of 26%, 31% and 38% in business from tier 3, tier 2 and tier 1 cities respectively in April this year.Sixteen of thirty-six states have recovered to business activity levels that are higher than pre-Covid times. Bihar, Haryana, Assam, Rajasthan, and Himachal are the states where business activity is 10+% higher. Uttar Pradesh, Madhya Pradesh, Chhattishgarh, Odisha, Jharkhand, Uttarakhand, and Punjab are the others that are already exhibiting higher business activity. Out of the 19 states that are yet to recover, Karnataka, Maharashtra, Gujarat, Andhra Pradesh, Tamil Nadu and Delhi are trending at 90–95% of their pre-Covid activity levels.The company witnessed double-digit growth in business from medical and kirana stores at 21% and 15% respectively in September 2020. This was after a dip of12% in business from medical stores and 22% from kirana stores in April this year. Both mobile recharge and electronics category registered modest growth of 5% in September 2020 after a dip in April this year.Harsh Pokharna, Co-founder and CEO, OkCredit, in a statement said, “It is interesting to note that amid the Covid pandemic, remote towns are emerging as the torchbearers for the digitization of the MSME segment . And they are showing exciting activity and growth as the economy pushes hard for a V-curve recovery.”Positive word of mouth by migrant population who have experienced digital tools is driving the adoption of digital book-keeping tools among small businesses in remote towns of India. This bodes well for India’s digitally connected future and presents a big opportunity to technology service providers to further capitalize on the digital bookkeeping opportunity presented by the MSME segment. Empowering micro and small businesses are crucial for the next stage of social and economic growth.Given the current scenario due to COVID-19, more consumers are looking online and this provides the potential for MSMEs to transform and build on digitisation of their businesses.

data gathered by OkCredit shows micro retail players are increasingly taking up digital book-keeping solutions. micro retail players are increasingly taking up digital book-keeping solutions. tier 3 cities saw 33% growth in the period of February - September 2020. tier 2 and tier 1 cities registered 30% and 28% growth respectively. this is after a dip of 26%, 31% and 38% in business from tier 3, tier 2 and tier 1 cities respectively in April this year.

Positive

https://www.moneycontrol.com/news/business/india-brazil-ink-15-pacts-to-broadbase-ties-further-4858241.html

File image of Brazil's President Jair Bolsonaro shaking hands with India's Prime Minister Narendra Modi during a summit on June 28, 2019. (Image Reuters) India and Brazil on January 25 signed 15 agreements to boost cooperation in a wide range of areas like trade and investment, oil and gas, cybersecurity and information technology. After talks between Brazilian President Jair Messias Bolsonaro, Prime Minister Narendra Modi called Brazil a valuable partner in India's economic growth and said an action plan has been finalised to further expand strategic ties. In a media statement, the prime minister further said that Bolsonaro's visit to India has opened a new chapter in bilateral ties between the two strategic partners and that despite geographical differences, both countries are together on various global issues. On his part Bolsonaro said the two countries have further consolidated already strong ties by signing 15 agreements providing for cooperation in a range of areas. Bolsonaro arrived here in India on January 24, accompanied by his daughter Laura Bolsonaro, daughter-in-law Leticia Firmo, eight ministers, four members of the Brazilian parliament and a large business delegation. The Brazilian president will grace the Republic Day Parade as chief guest on January 26. India's ties with Brazil have been on an upswing over the past few years. The largest country in Latin America, Brazil has a population of 210 million and a $1.8 trillion economy. (With inputs from PTI)

India and Brazil signed 15 agreements to boost cooperation in a range of areas. the two countries have signed agreements in a range of areas like trade and investment. prime minister Narendra modi called Brazil a valuable partner in India's economic growth. the two countries have signed 15 agreements providing for cooperation in a range of areas. the president will grace the Republic Day Parade as chief guest on January 26.

Positive

https://www.moneycontrol.com/news/business/markets/d-street-buzz-pharma-stocks-shine-cadila-laurus-labs-biocon-shares-jump-up-to-15-5115001.html

Most pharma stocks were trading with strong gains in morning trade on April 7, keeping their sectoral index on BSE in the higher territory. Around 1:15 hours, the BSE Healthcare index was 5.20 percent up at 13,039.55. Shares of Morepen Labs, Cadila, Laurus Labs, Hikal, Lupin, Biocon and Sun Pharma were trading with strong gains. Pharma stocks have been gaining of late as industry experts and brokerages believe that the sector is better placed to navigate the crisis during COVI-19 outbreak even though the challenges faced by it are all same. "We remain confident on the strong demand scenario from both domestic and export markets. Also, believe that these disruptions would not be meaningful from a full-year earnings perspective as the benefits of weaker currency could bridge the gap," brokerage firm Centrum Broking said in a report. Centrum says the export market will experience some price increases amid shortages and demand increase for generic drugs. However, it expects some impact on the Q1FY21 Indian pharmaceutical market (IPM) growth. Brokerages do not see a meaningful adverse impact of the lockdown, which is in its second week, on the earnings of pharma players. "With China resuming supplies of raw materials, potential disruption in manufacturing is now no longer a concern. There has been inflation in select raw material supplies but the same should only have a minor impact on gross margins during the quarter," brokerage Nirmal Bang said. "The India pharma market growth continues on expected lines – high single-digit. In the US, we could see marginal benefit coming from dollar appreciation and a potential increase in the stocking at the wholesaler level which should be offset by currency depreciation in emerging markets due to declining crude prices." Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

pharma stocks are trading with strong gains in morning trade on thursday. the BSE Healthcare index was 5.20 percent up at 13,039.55. industry experts believe the sector is better placed to navigate the crisis. the lockdown is in its second week and could not affect earnings of pharma players. a pharma lockdown could also have a negative impact on the pharma industry.

Positive

https://www.moneycontrol.com/news/trends/corporation-bank-donates-rs-3-38-cr-for-cyclone-fani-victims-in-odisha-4127221.html

State-owned Corporation Bank has donated Rs 3.38 crore towards relief and rehabilitation works for the people affected by cyclone Fani in Odisha. The cheque was handed over by Corporation Bank MD P V Bharathi to state Chief Minister Naveen Patnaik on June 18, the bank said in a statement. The fund was donated in support of relief efforts following the devastating cyclone Fani that had affected the state earlier this year, it said. Employees of the bank have volunteered and contributed one day's salary for the donation in support of the relief works, Bharathi said.

the fund was donated in support of relief efforts following the devastating cyclone Fani. the state-owned corporation bank has volunteered and contributed one day's salary. the cyclone affected the state earlier this year. the bank says it has donated Rs 3.38 crore. a cheque was handed over by the bank to the state chief minister on June 18.

Positive

https://www.moneycontrol.com/news/india/sco-achieves-new-progress-with-entry-of-india-pakistan-xi-jinping-2587045.html

China President Xi Jinping The Shanghai Cooperation Organisation has made new progress after the entry of India and Pakistan, Chinese President Xi Jinping said today as he welcomed Prime Minister Narendra Modi and Pakistan President Mamnoon Hussain to the eight-member grouping. Prime Minister Modi and Pakistan President Hussain attended the summit for the first time after both countries were admitted as members of the Beijing-based Shanghai Cooperation Organisation (SCO) last year. Xi, also host of the 18th SCO summit, in his opening remarks said that the presence of Prime Minister Modi and Pakistan President Hussain at the meeting here in the east Chinese port city was "of great historic significance." "The SCO enjoys strong vitality and momentum of cooperation,” Xi said, attributing the organisation's standing to the Shanghai Spirit. He called for the pursuit of common, comprehensive, cooperative and sustainable security. "We should reject the Cold War mentality and confrontation between blocs and oppose the practices of seeking absolute security of oneself at the expense of the security of other countries, so as to achieve security of all," he said. He said countries should work for promoting open and inclusive cooperation for win-win outcomes. "We should reject self-centered, short-sighted and closed-door policies. We should uphold WTO rules and support the multilateral trading system so as to build an open world economy," Xi said amidst a looming trade war between China and the United States over tariffs. Later, addressing a press conference at the conclusion of the summit, the Chinese President said the SCO members will uphold the authority and efficacy of WTO rules, strengthen an open, inclusive, transparent, non-discriminatory and rules-based multilateral trading regime, and oppose trade protectionism of any form. "During this summit, we have fully recognised the new progress made by our organisation since the accession of India and Pakistan," Xi said. "We point out that economic globalisation and regional integration are the compelling trend of our times," he said. He said all parties will continue to work in line with the principle of mutual benefit to improve regional economic cooperation arrangements, deepen cooperation in business, investment, finance, connectivity and agriculture, advance trade and investment facilitation to deliver benefits to the people and add fresh impetus to global growth. "We have agreed to abide by the goals and principles of the SCO Charter, carry forward the Shanghai Spirit of mutual trust, mutual benefit, equality, consultation, respect for diversity of civilisations and pursuit of common development," he said. Xi said as a trend towards multi-polarity and economic globalisation is deepening, there was a need to enhance cooperation among the SCO countries. "In the face of tortuous recovery of the world economy and various international and regional hotspot issues, countries are confronted with many common threats and challenges that no one can tackle alone. "Only by enhancing solidarity and coordination and deepening partnerships featuring peace, cooperation, equality, openness, inclusiveness and mutual benefit, we will be able to achieve lasting stability and development," Xi said. The SCO members have agreed to jointly pursue regional peace, stability and development by promoting good-neighborliness and friendship and deepening practical cooperation, the Chinese President said. Earlier, in his address, Xi called for adhering to extensive consultation, joint contribution and shared benefits in global governance, steadily reforming and improving the global governance system, and pushing all countries to jointly build a community with a shared future for humanity. The SCO member states need to actively implement the 2019-2021 programme of cooperation for combating terrorism, separatism and extremism, he said. Member nations should enhance cooperation on defence security, law enforcement security and information security, Xi said. Xi said that the SCO members need to build a powerful engine to achieve common development. China will set up a 30-billion-yuan (USD 4.7 billion) equivalent special lending facility within the framework of the SCO Inter-bank Consortium, Xi said. The SCO has eight member countries which represents around 42 per cent of the world's population and 20 per cent of the global GDP. Besides Prime Minister Modi and President Xi, other leaders attending the summit include Russian President Vladimir Putin and Iranian President Hassan Rouhani. The SCO was founded at a summit in Shanghai in 2001 by the presidents of Russia, China, Kyrgyz Republic, Kazakhstan, Tajikistan and Uzbekistan. India and Pakistan became its members last year.

Xi says the SCO has made new progress after the accession of India and Pakistan. he says the SCO has "strong vitality and momentum of cooperation" he says countries should work for promoting open and inclusive cooperation. he says he will oppose trade protectionism of any form. he says the SCO will uphold the authority and efficacy of WTO rules.

Positive

https://www.financialexpress.com/market/sbi-cards-ipo-oversubscribed-26-times-on-last-day-of-bidding-hni-subscription-at-44-times/1890182/

SBI Cards and Payment Services’ initial public offering (IPO) saw plenteous response through-out the four-day bidding process, eliciting an oversubscription of 26 times at the end of the bidding process. Bids were received for a total of 266 crore shares against the 10 crore shares that were offered under various categories, translating to more than Rs 2 lakh crore. The Rs 7,581 crore SBI Cards IPO was oversubscribed 57 times by Qualified Institutional Buyers (QIB), putting in bids worth Rs 1.04 lakh crore alone. Non-institutional Investors (NII) potion was oversubscribed 45 times. Retail individual investors portion was oversubscribed by 2.5 times, bidding for more than 16 lakh shares. Existing SBI shareholders oversubscribed their portion by 25 times. SBI employees who were offered a Rs 75 discount per share oversubscribed the issue by 4.74 times. Bids from NIIs multiplied on the final day of the bidding process, going from oversubscription of 2.19 times at the end of day three to 45 times oversubscription at the close of the bidding process. SBI Cards IPO — the fifth-largest IPO to enter the Indian market– after securing over Rs 2 lakh crore in the four-day bidding process joins the likes of Reliance Power, Coal India and Mundra Port in the Rs 1 lakh crore IPO club. The entire issue size of Rs 10,350 crore saw Rs 2,700 crore come in from anchor investors before the IPO bidding started on Monday. Promoter State Bank of India will see its stake come down to 69 per cent after the IPO process and PE firm Carlyle group will cut its stake from 26 per cent right now, to 16 per cent. The IPO includes a fresh issue of Rs 500 crore. With the bidding process now over, focus shifts to the listing of SBI Cards on the stock exchanges. Analysts expect that SBI Cards, which is the second-largest card issuer in the country will perform well in the market being the only player to have entered the bourses and having the advantageous backing from State bank of India. Seeing the performance of SBI Cards IPO, analysts are giving a listing day target price of Rs 1200. Citing rising discretionary spends and non-cash economy, brokerage firm Prabhudas Lilladher has initiated coverage on SBI Cards IPO, giving it an expected target price of Rs 1,191 with a ‘buy’ rating.

the initial public offering (IPO) was oversubscribed 57 times by QIB. non-institutional investors (NIIs) bid for more than 16 lakh shares. existing SBI shareholders oversubscribed their portion by 25 times. the entire issue size of Rs 10,350 crore saw Rs 2,700 crore come in from anchor investors before the IPO bidding started on Monday.

Positive

https://www.moneycontrol.com/news/business/moneycontrol-research/venkys-q1-review-let-it-marinate-in-your-portfolio-2988621.html

Picture Courtesy: Wikimedia Commons live bse live nse live Volume Todays L/H More × Sachin PalMoneycontrol Research Poultry producer Venky's posted a stable Q1FY19 with double-digit growth in the topline and operating profits. A significant reduction in interest expenses also bumped up the bottomline. Venky's, which has been in the poultry business for over four decades, looks set to ride on the consumption wave and achieve a topline of Rs 3,000 crore during this fiscal year. Quarterly result snapshot Revenues for the quarter increased 14 percent year-on-year (YoY) to Rs 756 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 10 percent YoY to Rs 119 crores in Q1FY19 from Rs 109 crore a year ago. Profit after tax (PAT) was 37 percent higher YoY at Rs 71 crores. FY18 turned out to be a phenomenal year for Venky's in terms of financial performance as the company reported a 40 percent jump in operating profits. This was driven by better realisations for poultry and poultry products, richer product mix and higher capacity utilisation. The cash flow from operations (CFO) has improved significantly over FY17 and FY18. The inflow was utilised to bring down the debt levels to Rs 350 crores at the end of March 2018 from ~Rs 762 crores at the end of March 2015. Strong presence across the northern and central region Venky's operates across three segments. 'Poultry and Poultry Products' segment produces and sells chicks, grownup commercial broiler (chicken raised for meat production) and layer, processed chicken, specific pathogen-free eggs, poultry feed and other miscellaneous poultry products. The 'Animal Health Products' segment produces and sells medicines and other health products for birds. The 'Oilseed' segment produces and sells edible refined soya oil and soya de-oiled cake. The company operates multiple commercial farms, breeder farms & hatchery, poultry feed and specific pathogen free (SPF) eggs plant across the central and northern region. Besides, the company also operates a quick service restaurant under the name 'Venky’s XPRS'. As a part of its expansion strategy, the company is setting up a new solvent extraction plant, vegetable oil refinery and SPF eggs plant in Maharashtra. The expansion entails a capital expenditure of around Rs 110 crores, which will be funded through a combination of long-term loans and internal accruals. These plants are expected to start commercial production over the next 3-6 months. Broiler prices witnessing a seasonal downtick Soybean meal is the most important protein source used to feed farm animals. Soybean prices peaked in FY17 and softened over the course of FY18 resulting in a positive impact on the profitability of poultry producers. The current soybean prices are moderately higher than last year and will have a marginal impact on the profits of poultry producer Venky's. Broiler prices generally peak around April to June as the demand weakens during the summer season. Broiler prices, which were hovering around Rs 80-85 in April & May, have witnessed a seasonal correction of around 30 percent and are currently priced around Rs 60-62 per kg in September. Despite the recent correction, the prices remain comparable (2-5 percent change) on a yearly basis and are expected to firm up with the onset of the festive season. Indian poultry market is growing at a healthy pace The domestic poultry industry mainly consists of broiler meat and table egg. The industry has grown at a rapid pace over the last decade and the Indian market is now the fourth largest in terms of volume. Despite the large size, per capita consumption of poultry meat in India is one of the lowest in the world and has immense potential to grow due to changing consumer preferences. Influenced by religion and other factors, India has largely been dominated by vegetarians. However, this scenario is fast changing, with the young Indian population abandoning vegetarian diet due to changing lifestyle. ICRA’s report on the domestic poultry market indicates India is a predominantly live bird market. Indian consumers have a strong preference for fresh broilers and therefore, around 90 percent of broiler sales happen at traditional retail outlets. In contrast, Chinese and South East Asian consumers prefer processed chicken. Backed by favourable socio-economic factors, the domestic poultry industry is expected to grow at a steady pace over medium to long-term. Business risks to monitor Given the commoditised nature of Venky's business, the realizations are guided by demand-supply dynamics of the poultry market. Any poultry-related disease outbreak (bird flu etc.) could have a significant on the volumes as well as prices. Besides, the margins also are dependent on the key input costs - Soyabeen and Maize. The prices of these commodities are dependent on agricultural and climatic conditions as well as international market. The Food safety and standards authority of India has launched a hygienic and cleanliness drive to improve the health and safe measures of the meat processing units. Also, there is an increased focus on using medically important antibiotics (for farm and meat animals) as the distributors as well as consumers are laying emphasis on health and hygiene. The company needs to remain compliant with the changing industry requirements and environmental norms to ensure the smooth running of the business. Consumption story available at reasonable valuations Venky's is an excellent play on India’s demographic & consumption growth story. The company enjoys a market leadership position in the sector and controls a majority of the supply in its key operating markets. The increasing popularity of Quick Service Restaurants - McDonald's, Pizza Hut and KFC will further propel the volumes growth of Venky's product offerings. The management expects volume growth of 10-12 percent in the current fiscal with higher profitability as an increase in key input prices will be offset through improvement in capacity utilisation and reduction in debt. The stock price has been volatile in recent months and corrected over 40 percent from the 52-week highs. At the current market price, it trades at a reasonable valuation of 14 times FY19 earnings. Long-term investors interested in steady earnings growth (20 percent +) can look to accumulate this stock on dips as there exists a significant scope for multiple re-rating in the future.

a significant reduction in interest expenses bumped up the bottomline. revenue for the quarter increased 14 percent year-on-year (YoY) to Rs 756 crore. profit after tax (PAT) was 37 percent higher YoY at Rs 71 crores. 'poultry and poultry products' segment produces and sells chicks, grown up commercial broiler (chicken raised for meat production) and layer, processed chicken, specific pathogen-free eggs, poultry feed and other miscel

Positive

https://www.moneycontrol.com/news/india/centre-to-provide-rs-70000-crore-boost-to-rural-roads-report-4094971.html

Picture for representation (Image: Pexels) The government will carry out a massive Rs 70,000 crore rural road-building project that will connect vegetable markets to nearby villages, according to a Business Standard report. The report noted that the project would seek to build roads spanning 125,000 km, 40 percent of which would be funded by the States and the remaining by the Centre. The improved connectivity is expected to allow for a smoother movement of produce, which would indirectly boost the income of farmers and improve the agricultural economy. “Research has shown that good road connectivity in rural areas has much more impact on growth and poverty than even poverty alleviation programmes,” said Mahendra Dev, director of the Indira Gandhi Institute of Development Research. In order to complete this objective, not all the roads would be black-topped, which involves layering the road with asphalt. Instead, the roads would be lined with gravel, as these villages, which are thinly populated, would not require fully developed roads. In Prime Minister Narendra Modi’s last Independence Day speech, he promised connectivity to all villages, irrespective of the number of people inhabiting them. This promise trumped the policy which mandated connectivity to all villages on plains which had at least 500 people, and villages with at least 250 people in hilly areas. The report also observed that by the time the Modi government had come to power in 2014, close to 178,184 homes were applicable to be connected through the Pradhan Mantri Gram Sadak Yojana (PMGSY). By the end of the first term, close to 97 percent of these homes were connected with all-weather roads, with only 5,345 habitats yet to be covered in states such as Jammu and Kashmir, Assam and Odisha.

the government will carry out a massive Rs 70,000 crore rural road-building project. the project would seek to build roads spanning 125,000 km, 40 percent of which would be funded by the states. the improved connectivity is expected to allow for a smoother movement of produce. the improved connectivity is expected to allow for a smoother movement of produce. the improved connectivity is expected to indirectly boost the income of farmers.

Positive

https://economictimes.indiatimes.com/markets/commodities/news/gold-rate-today-drops-amid-rush-for-cash/articleshow/74821582.cms

With businesses shut in several cities in India amid rising threat of the coronavirus, investors are wary of betting on any asset class. The government is likely to ask the next Finance Commission to consider a higher weight for the human development index (HDI) and sustainable development goals (SDGs) while recommending the distribution of resources among states. US electric carmaker Tesla is willing to invest up to $2 billion for setting up a local factory if the government approves a concessional duty of 15% on imported vehicles during its first two years of operations in India. As more women take up senior leadership roles in India Inc, their visibility in boardroom battles is also rising. In a clear break from the past, women are playing key roles in several ongoing boardroom conflicts, or family disputes that may extend into the boardroom, reflecting the rise in the number of women in positions where they can have their say. Experience Your Economic Times Newspaper, The Digital Way! (What's moving Sensex and Nifty Track latest market news stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Read Economic Times Epaper. Top Trending Stocks: SBI Share Price

as more women take up senior leadership roles in india Inc, their visibility in boardroom battles is also rising. women are playing key roles in several ongoing boardroom conflicts. women are playing key roles in several ongoing family disputes that may extend into the boardroom. women are playing key roles in several ongoing boardroom conflicts. women are playing key roles in several ongoing boardroom conflicts, or family disputes that may extend into the boardroom.

Positive

https://economictimes.indiatimes.com/industry/cons-products/food/driven-by-growing-snacking-habit-of-indians-givaudan-expands-india-facility/articleshow/67895044.cms

Pune: Indians' love for snacking has helped Givaudan , the world’s leading flavour and fragrance company to not only clock a double digit growth, but also expand its manufacturing facility in India with an investment of Rs 400 crores."Bakery products and snacking movement are the two key growth drivers for the company's growth of flavours business in India," said Monila Kothari, Givaudan's APAC Commercial Head."Masala, butter and mango in beverages are the top most popular flavours in Indian market," said Kothari.Givaudan, which claimed to have 25% share of the world flavours and fragrance market and 27% share of the Indian market, sources about 50% of its ingredients required for Indian operations locally."We also source ingredients for natural flavours and fragrances like ginger, spices, jasmine etc from India," said Gilles Andrier, Chief Executive Officer, Givaudan.World wide, as consumers are shifting toward healthier snacking options, the share of natural ingredients in Givaudan's business has doubled over past decade to stand at two third of the total sales."Of the 9 companies that we acquired in past 4 years, 6 of them are in manufacturing of natural ingredients. However, natural is more expensive and also the question of sustainability is involved in it," said Andrier.Givaudan's 46% business comes from fragrance business, while the remaining 54% from the flavours business. India accounts for 4% of the global sales."The new 40,000-square-metre facility will enable Givaudan to meet growing demand from customers in the food and beverage and healthcare segments. The new facility will complement the company’s existing plant in Daman, strengthening its capabilities in liquids compounding, powder blending, emulsions, process flavours and spray drying for the India, Nepal and Bangladesh markets. Givaudan expects to employ about 200 people at the new site," said company spokesperson.Gilles Andrier said, “We are delighted to open this world-class flavours manufacturing facility in Pune as the latest example of Givaudan's long-term heritage and commitment to India and our strategic focus on the high-growth markets of Asia- Pacific. Our new plant will enable Givaudan to collaborate even more closely with our customers to deliver differentiated solutions and great taste experiences to the dynamic Indian market.”

the company's new 40,000-square-metre facility will enable it to meet growing demand from customers in the food and beverage and healthcare segments. the new facility will complement the company's existing plant in Daman, strengthening its capabilities in liquids compounding, powder blending, emulsions, process flavours and spray drying. the company expects to employ about 200 people at the new site.

Positive

https://economictimes.indiatimes.com/news/politics-and-nation/first-ever-indian-cargo-ferry-to-maldives-opens-new-connectivity-business-links-in-southern-indian-ocean/articleshow/78334175.cms

New Delhi: The first ever Indian cargo vessel (MCP Linz) operated by the Shipping Corporation of India (SCI) reached northern Maldivian town of Kulhudhufushi on Saturday launching a new phase in connectivity in the Southern Indian Ocean Region.Despite a lockdown imposed at Kulhudhufushi, the vessel was received with fanfare and the virtual event - attended by the Foreign Minister of Maldives Abdulla Shahid, the Transport Minister Mrs. Aishath Nahula, the Island Council of Kulhudhufushi and the High Commissioner of India Sunjay Sudhir - was held to receive the vessel, according to an official statement.The maiden voyage of the direct Cargo Ferry Service between India and the Maldives was jointly launched on September 21 by Mansukh L. Mandaviya, Minister of State for Shipping (Independent Charge) and Aishath Nahula, Minister of Transport and Civil Aviation of the Maldives in a virtual ceremony. This is the first ferry service in the Indian Ocean region operated by the SCI. The service is expected to enhance bilateral trade and bring down costs for consumers.The Cargo Ferry Vessel MCP Linz operated by the Shipping Corporation of India (SCI) connects Tuticorin and Cochin ports in India with Kulhudhufushi and Male ports in the Maldives. The vessel is carrying garments, food items, kitchen equipment, coir pith, machinery tools, etc for the Maldives on its maiden voyage. It is expected to arrive in Male on September 28, according to the statement.The MCP Linz is a combination vessel which can carry 380 TEUs and 3000 MT on bulk cargo, and will have a turnaround time of 10-12 days for its voyages. The vessel has reefer plugs for refrigerated containers. This vessel provides direct cargo connectivity between India and the Maldives on a predictable and affordable basis for the first time, and will lower costs and times for traders in both countries.In his address to the People’s Majlis during his State Visit to the Maldives in June 2019, PM Narendra Modi announced India’s commitment to start a ferry service connecting India and the Maldives. An MoU was signed between the Ministry of Shipping in India and the Ministry of Transport, Maldives, on the sidelines of the State Visit. The decision to commence the Cargo Ferry Service between the two nations was announced during a virtual meeting between Foreign Minister S. Jaishankar and Foreign Minister Abdulla Shahid on August 13.Besides the expansion of markets for MSMEs in India, the Cargo Ferry service will provide an opportunity to Maldivian exporters of tuna and other marine products to scope the vast Indian market and also explore European markets through Cochin and Tuticorin ports, officials informed.

first ever Indian cargo vessel (MCP Linz) reached northern Maldivian town of Kulhudhufushi on Saturday. vessel was received with fanfare and virtual event attended by foreign minister of maldives Abdulla Shahid. it is carrying garments, food items, kitchen equipment, coir pith, machinery tools, etc for the maldives on its maiden voyage.

Positive

https://www.financialexpress.com/india-news/carlos-alvarado-quesada-vice-president-india-m-venkaiah-naidu-costa-rica/1510371/

Vice President M Venkaiah Naidu has met President of Costa Rica Carlos Alvarado Quesada and held “fruitful” discussions on a range of issues, including cross border terrorism, and new areas of collaboration that hold potential to boost the bilateral ties. Vice President Naidu, who became the first Indian on Friday to receive an honorary doctorate by the University of Peace founded by the United Nations, also invited the Costa Rican companies to invest in India and benefit from high returns. “President of Costa Rica Carlos Quesada and I have had fruitful and cordial exchanges covering a range of areas of mutual interest. Based on our fruitful exchanges, we are confident that our mutual efforts will open up new and innovative vistas for deepening ongoing engagement between both countries,” Naidu said. “India is a peace loving country but has been a target of terrorism from across our border for the last few decades. We discussed in detail the menace of terrorism and the need to fight in one voice against individuals & terrorist groups engaged in terrorist activities,” the Vice President’s office said in a tweet. Naidu, who met president Quesada at the Casa Presidenical in San Jose on Friday, said there were many new areas of cooperation for the two countries to take their bilateral relations to new heights. He said the Costa Rican strengths that India would want to take advantage of include eco-tourism, clean transport, education and to have zero carbon emission economy by 2021. “Indian strengths that Costa Rica can benefit from include space and biotechnology, Renewable Energy including solar, pharmaceuticals, ICT particularly eGovernance, hydroelectric generators and power plant equipment, farm machinery & skill upgradation, railway construction,” Naidu said. “Costa Rica is the largest economy in Central America. Costa Rican companies are invited to invest in and benefit from the fastest growing large economy. Current bilateral trade volumes between both countries are to the tune of USD 200 million,” he said. Terming Costa Rica as an “important partner” of India, Naidu said the two countries shared “close and cordial” ties based on their shared commitment to the pursuit of democracy, pluralism, multiculturalism, freedom of Press and equitable human rights. The two countries also exchanged memorandum of understanding on waiving visa requirements for diplomatic and official passport holders and the signing of the Letter of Intent to collaborate in the field of Biotechnology. “India & Costa Rica could collaborate in various aspects of skill development such as Soft Skills, Entrepreneurship, Financial and Digital Literacy. 50 per cent of Costa Rican population is less than 25 years. We could share our experiences in skilling, training and capacity building,” Naidu said. Naidu is in Costa Rica as part of his two-nation trip to Paraguay and the Central American country.

vice president met with president of Costa Rica Carlos Alvarado Quesada. he held "fruitful" discussions on a range of issues, including cross border terrorism. he also invited the Costa Rican companies to invest in India and benefit from high returns. he became the first Indian to receive an honorary doctorate by the university of peace.

Positive

https://economictimes.indiatimes.com/wealth/invest/pros-and-cons-of-investing-in-nps-for-retirement-saving/articleshow/75914169.cms

Indranil Halder wants to reduce his tax but won’t invest in an option that can shave off more than 20% from his tax liability. “I’m not interested in the NPS because it has a long lock-in and other complications,” the Pune-based IT professional wrote to ET Wealth last year. Indeed, the 25 year old will have to wait till 2055 before he can access the money poured into the pension scheme. Very few millennials like to think in such long terms.This is something that is worrying Supratim Bandyopadhyay, the newly-appointed chairman of the Pension Fund Regulatory and Development Authority (PFRDA). “A lot of people do not realise the importance of saving for retirement. They postpone the decision to save till they are in their late 40s,” he says.At the same time, awareness about the need to start early is gradually growing. “We are seeing a growing interest in the NPS among younger people. More than 62% of the investors in NPS are in the age group 26-45 years,” says Bandyopadhyay. One of them is Mumbai-based PSU banker Priti Kawara. As part of her retirement benefits, Rs 13,500 is invested in her NPS account every month by her employer. She puts another Rs 50,000 in the scheme every year to claim the additional tax benefit under Section 80CCD(1b).Priti Karawa, 27 years, MumbaiBeing a PSU employee, NPS is mandatory for her, though she also invests an additional Rs 50,000 on her own under Sec 80CCD(1b). Has been investing for the past three years but never gave attention to the asset mix or changed her allocation."Given the downturn in the equity market, this is a good time to hike equity exposure in NPS to the maximum 75%."Indeed, the triple tax benefits of NPS are a big draw for investors. Firstly, NPS investments are eligible for deduction under Section 80C. If one has already exhausted the Rs 1.5 lakh ceiling under Section 80C, one can claim an additional deduction of up to Rs 50,000 under Section 80CCD (1B). For an investor in the 30% tax bracket, this means additional tax savings of Rs 15,450. More tax can be saved if one’s employer signs up with NPS and puts up to 10% of the basic salary in the NPS under Section 80CCD(2). “NPS offers significant tax benefits. If your company offers NPS, don’t miss the opportunity to cut your tax,” says Archit Gupta, CEO of tax filing portal Cleartax.in.The other ‘complication’ that Halder refers to are the NPS rules on annuity. Over the years, the NPS has shed its rigidity and become more tax friendly. The entire 60% of the corpus that can be withdrawn on maturity is tax free. However, the remaining 40% has to be compulsorily put into an annuity to earn a pension that is fully taxed as income. This effectively means an investor does not save tax but only defers it.Experts point out that the tax situation of a retiree is different. The basic exemption is higher and there are other benefits such as tax exemption to interest income up to Rs 50,000 under Section 80TTB. Even so, the tax on annuity is a tad unfair because the pension received is a mix of the principal and investment returns Being taxed on investment returns is acceptable, but the tax on the principal portion is galling. “Tax on annuity makes NPS unattractive and unfair compared to other retirement products such as EPF and PPF ,” says Chirag Mehta, a finance professional based in Kolkata. He says if not the entire annuity, at least the principal component should be exempt from tax. “There should also be indexation benefit while taxing the profit element,” he says.Chirag Mehta, 33 years, KolkataHe has opted for NPS contribution by his company under Sec 80CCD(2) and also contributes on his own under Sec 80CCD(1b). His combined contribution is Rs 1.62 lakh per year, which saves him over Rs 50,000 in tax."I regularly make changes in the asset mix. In December 2019, I switched from aggressive mix with 75% in equities to conservative mix with 25% only."For several years now, tax exemption for annuity pension has been on the Budget wishlist that the PFRDA sends to the Finance Ministry. This year, the insurance regulator Irdai also joined the chorus, but to no avail. “If the Finance Ministry agrees and annuity becomes tax free, it will be a gamechanger for the pension sector in India,” says Bandyopadhyay.Apart from the tax benefits, the NPS is also an ultra low-cost investment option. The fund management charges are 0.01%. To be sure, this is not the only expense for investors. They also have to shell out one-time charges at the time of on-boarding and pay a flat fee on every transaction. Despite this, the NPS is still by far the cheapest market-linked investment product.Several studies have shown that rebalanced portfolios deliver better returns in the long run than static portfolios that don’t make any changes. Financial planners recommend that investors should rebalance their portfolios at least once a year or after a major market development, where a particular asset class moves up or down by more than 10-15%. “Rebalancing protects the portfolio against volatility,” says Rohit Shah, Founder and CEO of Getting You Rich.The NPS also offers a terrific advantage to investors by way of automatic rebalancing. Investors can choose from three lifecycle funds—aggressive, moderate and conservative. The aggressive portfolio allocates 75% to equities, moderate puts 50% and conservative invests only 25%. The portfolios get rebalanced on the investor’s birthday every year. “The lifecycle funds of NPS are the only products which automatically rebalance the corpus every year,” points out Bandyopadhyay.If you are convinced that NPS is good for you, the next step is to open an account and start investing. You also need to choose from the seven pension fund managers. The returns of individual NPS schemes do not reflect the actual returns for the investor because the portfolio is usually a mix of 2-3 different classes of funds. ET Wealth studied the blended returns of four different combinations of the equity, corporate debt and gilt funds.Ultra-safe investors are assumed to have put 60% in gilt funds, 40% in corporate bond funds and nothing in equity funds. A conservative investor would put 20% in stocks, 30% in corporate bonds and 50% in gilts. A balanced allocation would put 33.3% in each of the three classes of funds while an aggressive investor would invest the maximum 50% in the equity fund, 30% in corporate bonds and 20% in gilts. Aggressive investors can now put up to 75%, but this allocation does not have a very long track record. We have also not considered the 5% allowed to be put in alternative investments.Ultra-safe investors who stayed away from equities have earned the highest returns. They may have missed the stock market rallies in the past few years but also didn’t suffer when markets crashed with a thud in March. The long-term returns of these investors are also higher than what the Provident Fund or small savings schemes churned out in the past 3-5 years. Unsurprisingly, the LIC Pension Fund is the best performing pension fund for the ultra-safe allocation, generating 16.32% returns in the past one year and SIP returns of 10.50% in the past five years.Conservative investors, who put a sliver of their corpus in equity funds, have also done well. But these funds have not managed to beat the returns of the Provident Fund. Newcomer Aditya Birla Sun Life Pension Scheme is the best performing fund in the short term, but HDFC Pension Fund stays ahead in the longer term and in the SIP mode.Milind Gawade, 44 years, PuneHe has been investing in NPS for the past five years, primarily to save tax. He invests around Rs 1 lakh in the scheme every year, claiming tax benefit under Section 80C and Section 80CCD(1b). Gawade invests in mutual funds for equity exposure and uses the NPS for the debt portion of his portfolio."My entire corpus is in a gilt fund. It has generated better returns than debt mutual funds."Balanced investors who divided the corpus equally across all three fund classes suffered from the exposure to equities. Though gilt funds rallied, the crash in equity funds pulled down the overall returns. Here again, Aditya Birla Sun Life Pension Scheme has delivered the most impressive numbers. Aggressive investors, who put the maximum 50% in equity funds, have lost money in the past one year. Some even lost money in SIPs in the past three years, underlining the risks of investing in equities.Incidentally, the Provident Fund has also started investing in stocks. In August 2015, it started by putting 5% of fresh inflows in Nifty ETFs. This was raised to 10% of inflows in 2017 and later hiked to 15% in 2018. However, though it notched up good gains in the first few years, the stock crash in March this year has pushed its equity exposure into the red. Our calculations show that due to the losses in equity investments, the Provident Fund may not be able to give out more than 7% in 2019-20.

more than 62% of investors in the pension scheme are in the age group 26-45. triple tax benefits of NPS are a big draw for investors. if one has exhausted the Rs 1.5 lakh ceiling under Section 80C, one can claim an additional deduction of up to Rs 50,000 under Section 80CCD (1b) for an investor in the 30% tax bracket, this means additional tax savings of Rs 15,450.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/market-now-nifty-auto-index-in-the-red-mampm-tata-motors-among-thenbsptop-drags/articleshow/64074856.cms

NEW DELHI: Losses in Bosch (down 1.98 per cent), Mahindra & Mahindra (down 1.94 per cent), Amara Raja Batteries (down 0.94 per cent) and Tata Motors (down 0.90 per cent) were keeping the Nifty Auto index in the red during Tuesday's trade.The Nifty Auto index was trading 0.21 per cent down at 11,466 around 11:20 am (IST).Apollo Tyres (down 0.41 per cent), Motherson Sumi Systems (down 0.35 per cent), Bajaj Auto (down 0.22 per cent) and MRF (down 0.14 per cent) were also down.However, shares of Eicher Motors (up 1.92 per cent), Ashok Leyland (up 1.12 per cent), Exide Industries (up 0.99 per cent), TVS Motor Company (up 0.82 per cent), Bharat Forge (up 0.57 per cent), Hero MotoCorp (up 0.35 per cent) and Maruti Suzuki India (up 0.18 per cent) were in the green in the index.Equity benchmarks Sensex and Nifty were trading up on buying by domestic institutional investors amid positive leads from Asian markets following overnight gains on the Wall Street.The NSE Nifty50 index was up 23 points at 10,738, while the BSE Sensex was up 94 points at 35,302.Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red.ICICI Bank, HPCL, Eicher Motors, TCS, BPCL, Axis Bank and ITC were leading the pack of gainers in the Nifty index.However, IndusInd Bank, Mahindra & Mahindra, Bajaj Finance and Larsen & Toubro were among the top losers in the Nifty pack.

shares of Eicher Motors, Ashok Leyland, exide industries and TVS Motor Company were trading up. ICICI Bank, HPCL, Eicher Motors, TCS, BPCL, Axis Bank and ITC were among the top gainers in the Nifty index. Sensex and Nifty were trading up on buying by domestic institutional investors.

Positive

https://economictimes.indiatimes.com/news/economy/infrastructure/creation-of-world-class-infra-at-ports-important-for-india-to-become-5-trillion-economy-venkaiah-naidu/articleshow/74416131.cms

NEW DELHI: Creation of world-class infrastructure at ports is important for India to become a USD 5 trillion economy, Vice President M Venkaiah Naidu said on Saturday.He also called upon all the chairpersons and administrators of ports to make these facilities more energy-efficient and environment-friendly as such efforts were needed to counter climate change , an official statement said.Interacting with the chairpersons of major port trusts during the 'Chintan Baithak' being held by the Ministry of Shipping in Mamallapuram, the Vice President stressed upon the need to harness India's vast coast for the sustainable growth and development of the country.He called for developing all Indian ports on par with other global ports and said the creation of world-class infrastructure at ports was important for India to become a USD 5 trillion economy.He added that India has an excellent opportunity for port-led development as ports were inevitable for exports and imports.Further, he advised the ports to adopt best practices to effectively utilise their financial resources to derive maximum benefits.Naidu asked them to reduce logistics cost, dredging expenditure and also improve turnaround time."We need to create more transshipment hubs on either side of the coasts," he said.The three-day Chintan Baithak, ending on Sunday, is an endeavour towards discussing and finding solutions to various challenges being faced by the ports and mapping out the prospects of their growth and development.

vice president says creation of world-class infrastructure at ports is important for India to become a USD 5 trillion economy. he also called upon all the chairpersons and administrators of ports to make these facilities more energy-efficient and environment-friendly. he said efforts were needed to counter climate change. the three-day 'Chintan Baithak' is an endeavour towards discussing and finding solutions to various challenges being faced by the ports.

Positive

https://www.moneycontrol.com/news/business/close-above-10440-to-signal-further-upmove-for-nifty-top-5-stocks-to-buy-in-near-term-2547317.html

live bse live nse live Volume Todays L/H More × By Rajesh AgarwalAUM Capital Benchmarks closed with marginal gains on profit booking in oil & gas, bank, financial, energy, FMCG and utilities sectors despite higher Asian cues. Sentiment was also subdued on concerns that inflation worries could resurface on the back of rising crude oil prices. Brent crude futures surged more than 3 percent on Tuesday to their highest since late 2014, at USD 71.34 a barrel. OMCs slumped following reports that the government is asking these firms to absorb price hikes. Investors are focusing on key domestic cues of retail inflation data and industrial production data due tomorrow and corporate results starting Friday. Technical Outlook Nifty Nifty has formed 'Dragon Fly' candlestick pattern around key hurdle zone i.e. 50 and 100 SMA which coincides at 10,440 levels and 38.20 percent Retracement levels (Drawn from high of 11,171.55 to low of 9,951.90) on daily time frame. This pattern is a Bearish Reversal Pattern. Now, the Index has to close above 10,440 levels for further upmove. If it sustains below or fails to cross this mark, Nifty may witness a correction till 10,340 and 10,270 zone. Furthermore, RSI (14) has given Negative crossover. Bank Nifty Nifty Bank has formed 'Hanging Man' pattern around 50 SMA and 100 SMA on daily time frame. This pattern occurs mainly at the top of uptrends and can act as a warning of a potential reversal downward. It is important to emphasize that the Hanging Man pattern is a warning of potential price change, not a signal to go short. Near term hurdle seen around 25420 levels i.e. 100 SMA. Moreover, it is currently trading around 38.2 percent Retracement level on daily time frame. Below are the top 5 stocks which acn give up to 5% return in the near term: Dabur India | Rating: Buy | Target: Rs 355, stop loss: Rs 336 | Return: 3% Sun Pharmaceutical Industries | Rating: Buy | Target: Rs 536, stop loss: Rs 508 | Return: 3% GNA Axles | Rating: Buy | Target: Rs 543, stop loss: Rs 487 | Return: 5% TVS Electronics | Rating: Buy | Target: Rs 514, stop loss: Rs 465 | Return: 5% Pidilite Industries | Rating: Sell | Target: Rs 955, stop loss: Rs 1010 | Return: 3% Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Brent crude futures surged more than 3 percent on Tuesday to their highest since late 2014, at USD 71.34 a barrel. investors are focusing on key domestic cues of retail inflation data and industrial production data due tomorrow and corporate results starting Friday. technical Outlook Nifty Nifty has formed 'Dragon Fly' candlestick pattern around key hurdle zone i.e. 50 and 100 SMA.

Positive

http://www.moneycontrol.com/news/business/volvo-group-india-looks-at-cagr-of-10-to-15-in-next-7-10-years-2484937.html

Answer: Volvo Completing 20 years of its operations in the country, Volvo Group in India today said it is looking at a compound annual growth rate (CAGR) of 10 per cent to 15 per cent over the next seven to ten years. The company also said it will continue to invest in technology and talent in the days to come. "The last two years have been phenomenal for us; we have grown by 40 per cent in our top line and also in rofits, which is very good," Volvo Group India Pvt Ltd President and MD Kamal Bali said. Speaking to PTI here, he said "...I can say that we are looking at between 10 to 15 per cent growth rate CAGR over the next seven to ten years, and that is the rate at which this industry will comfortably grow." Pointing out that all the segments that the company caters to were connected with the real economy, whether it is urbanisation which needs buses, constructing roads which need construction equipment or transportation of cargo which needs trucks, he said "all of these are going to grow." In 2018, the company should grow between 10 and 12 per cent, he said, adding, that the Goods and Services Tax (GST) has been "very positive." Volvo Group in India includes multiple business areas and brands such as Volvo Buses, Volvo Penta Engines, Volvo Construction Equipment, UD Buses, Volvo Trucks and Eicher Trucks and Buses, among others. Eicher and Volvo trucks are sold via a joint venture company - VE Commercial Vehicles Ltd. The company said it has already invested in its facilities and capacity for the next 5 years, and would continue to invest in technology and headcount addition. "Over the last twenty years we have invested close to Rs 2,500 crores between us and our joint venture with Eicher... in the last two to three years we have invested another about Rs 300 crore in India," he said in response to a question about investment. Stating that as far as investments are concerned in plant, machinery and capacity, they are already there for the next five years, he said "but, of course there will be investments in technology and hiring new people." More than 400 people were added last year by Volvo, which will raise its headcount close to 4,000 excluding the joint venture company. "We will continue to hire...similar number; about 400 people will be added this year as well," Bali said. Asked about technology related investment, he said it could be on embedded electronics, telematics or connected solutions at the company's group technology center here where about 1000 engineers are working on design of bus and trucks for the global organization. Stating that India will become a major hub for medium duty engines, he said, "we will build all engines which are 8 liter and medium duty and supply it across the world." "We have already setup the plant and have started to supply these engines to Sweden and France. These are Euro VI engines," he added. Stating that between electric and hybrid there were about 5000 Volvo buses that are plying globally, Bali said in India they had brought in two hybrid buses in Navi Mumbai two years ago and "they are doing exceedingly well." He said "We are already observing between 30-35 per cent lower fuel consumption compared to standard diesel bus. This is a process which will happen....we are looking at next steps in this journey." "Our strategy was to start with hybrid which does not need much infrastructure around" whereas government's stated approach is to go straight away electric. "...we are ready for both." Bali said the company exports buses and construction equipment from India to South East Asia, ASEAN countries, Latin America, South Africa, Middle East and also France. Noting that the company has two brands Volvo and Eicher, one top end and the other mainstream brand, he said, "we are trying to bring in UD brand for buses, which you will see very soon. UD comes under semi luxury category.

Volvo Group in india is completing 20 years of operations in the country. it is looking at a compound annual growth rate (CAGR) of 10 per cent to 15 per cent. the company also said it will continue to invest in technology and talent in the days to come. the company has already invested in its facilities and capacity for the next 5 years. a joint venture company has also invested in technology and hiring new people.

Positive

https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/pharma-wants-a-booster-fund-to-push-innovation/articleshow/70685719.cms

AHMEDABAD | MUMBAI: The Indian Pharmaceutical Alliance, a group of top research-based pharmaceutical companies, has urged policy think tank Niti Aayog and the Department of Pharmaceuticals to set up a large fund to boost technological innovation in pharma and healthcare startups. “We have approached the government to set up dedicated funds to boost innovation and startups in the pharma space in India,” said Sudarshan Jain, secretary-general, IPA.Last month, the IPA submitted its Vision 2030 document that highlights opportunities and challenges in the Indian pharma sector. The document seeks to promote innovation backed by risk capital to further boost pharma and health technology innovation in India. “IPA is advocating and advising the government to set up a startup VC fund to boost innovation in pharma,” said Pankaj Patel , CMD of Cadila Healthcare , one of the top five pharma companies in India in terms of revenue.Patel, who is also former IPA president, said the sector has to innovate to grow faster.IPA has also asked the government to boost its investment share in private sector R&D to 35% from 25%. This could be done by allocating more funds to R&D projects in life sciences and startups, it said.Co-funding research projects and startups is common in developing countries, including China which has allocated $12 billion for drug development in 2010-15, it said. “Indeed, this is a great step. Like BIRAC (Biotechnology Industry Research Assistance Council) funds biotech innovation, it’s high time pharma and the med-tech sector, which are also heavily dependent on R&D, get risk funding support to position India as an innovation-based economy,” said Vishal Gandhi , founder, BIORx Venture Advisors.India already has a Biotechnology Ignition Grant Scheme (BIG) that provides assistance of up to $5 million to biotech startups to establish and validate proofs-of-concept and to enable the creation of spin-offs. “The pharmaceutical industry expects similar and larger funds to be created across all innovations in the pharma space,” IPA said.Past efforts to set up a funding institution to fuel pharmaceutical innovation have not taken off. Except for BIRAC and funding assistance from the Technology Development Board, which grants financial assistance to biotechnology-based startups, these attempts have drawn little interest from the government. “At least from the optics, innovation is getting importance from the government but if that will go to the level of making funding available is doubtful,” a veteran venture capitalist told ET, requesting not to be identified by name.Innovation programmes, in addition to funding, should attract Indian scientists who have worked in international research labs, he said. Ten years ago, China initiated the Thousand Talents Program that had roped in Chinese scientists from external research institutes, mostly from the US and that has spurred its research effort in the life sciences segment, he said.

IPA has asked the government to boost its investment share in private sector R&D to 35% from 25%. it has also asked the government to alloc more funds to R&D projects in life sciences and startups. IPA submitted its Vision 2030 document that highlights opportunities and challenges in the Indian pharma sector. it is hoped the document will help boost innovation in the pharma sector.

Positive

http://www.financialexpress.com/world-news/us-jobless-claims-drop-to-near-45-year-low/1075957/

The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February, which should continue to underpin the economy. Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 222,000 for the week ended Feb. 17, the Labor Department said on Thursday. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973. Claims for six states, including California, were estimated because of Monday’s Presidents Day holiday. While that probably distorted last week’s data, the underlying trend in claims was consistent with a robust labor market. “Firms are extraordinarily unwilling to part company with workers reflecting, in all likelihood, the difficulty of replacing them,” said John Ryding, chief economist at RDQ Economics in New York. Economists polled by Reuters had forecast claims unchanged at 230,000 in the latest week. It was the 155th straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was much smaller. The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. Tightening labor market conditions are starting to push up wage growth, which could help to lift inflation toward the Federal Reserve 2 percent target. Minutes of the US central bank’s Jan. 30-31 policy meeting published on Wednesday showed policymakers upbeat in their assessment of the economy and a number “judged that the continued tightening in labor markets was likely to translate into faster wage increases at some point.” US financial markets were little moved by the claims data. The Labor Department said claims for California, Hawaii, Maine, Virginia, West Virginia and Wyoming were estimated. It also said claims-taking procedures in Puerto Rico and the Virgin Islands had still not returned to normal, months after the territories were slammed by Hurricanes Irma and Maria. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 2,250 to 226,000 last week. The claims data covered the survey period for the nonfarm payrolls component of February’s employment report. The four-week average of claims dropped 17,500 between the January and February survey weeks, suggesting solid job growth this month. Payrolls increased by 200,000 jobs in January. Strong employment gains in February would seal the case for an interest rate increase next month. The Fed has forecast three rate increases this year. Most economists, however, expect four rate hikes in the wake of strong inflation readings in January. Thursday’s claims report also showed the number of people receiving benefits after an initial week of aid declined 73,000 to 1.88 million in the week ended Feb. 10. The four-week moving average of the so-called continuing claims fell 16,250 to 1.93 million.

claims for six states, including California, fell to 216,000 in mid-January. underlying trend was consistent with a robust labor market. labor market near full employment, with jobless rate at a 17-year low of 4.1 percent. 155th straight week claims remained below 300,000 threshold. underlying trend is consistent with a robust labor market.

Positive

https://www.financialexpress.com/economy/government-working-on-a-package-of-structural-reforms-for-sunrise-sectors-niti-aayog-ceo-amitabh-kant/1950399/

The government is working on a package of structural reforms across sunrise sectors to convert India into a global manufacturing and exporting hub, Niti Aayog CEO Amitabh Kant said. In an interactive online session organised by All India Management Association (AIMA) on post-COVID-19 scenario for Indian economy, he listed healthcare, education, mobility, genomics, AI, 5G network, fintech and manufacturing as high priority areas for rapid and radical structural reforms. “These are the new areas of growth where disruption is inevitable and where speed, scale and size are required,? Kant was quoted as saying in a statement by the AIMA.” Also read| Check latest updates on Coroanvirus here: Manufacturing would be a key focus area for the government in the post-COVID-19 period, as India wants to take advantage of the supply chain disruptions in China, Kant said. The government has contacted about 1,450 companies across the world for manufacturing in India, Kant said adding that facilities need to be created for global manufacturers to invest quickly and move forward. He pointed out that the plan includes creating 2-3 autonomous zones without regular labour and land laws and stressed that India also needs to make its ports more efficient. To promote manufacturing, Kant suggested that the states should fix electricity and land rates which would not escalate for the next 25 years. He also suggested that for the next three years, every single tender of the government must be given only to Indian companies. “India has to beg, borrow, steal technology from abroad. China did that and that is why it could produce at low costs,” Kant said. On the issue of MSMEs, the Niti Aayog CEO said that the unorganised sector can be allowed to become organised in a dignified way by making the organised sector less regulated and tempering labour rules and employers’ contributions. To promote startup economy, the government will set up seven groups to look at technology to drive the new India led by startups, Kant said, adding, “These groups will work on reforms in areas such as digital payments, farm to fork, healthcare, education, AI etc.” Talking about the impact of COVID-19 and reviving the economy, Kant said that India’s GDP will definitely take a hit but India has to protect both life and livelihood. “The countries that tried to protect their economies had both life and economy infected,” he stated. Kant pointed out that India had flattened the curve and contained both the infections and the deaths at extremely low levels by imposing the most stringent lockdowns in the world. “India’s share of the global COVID-19 fatalities was only 0.6 per cent and its infection rate had actually gone down to 3.4 per cent after increasing testing from the early testing level of 4.7 per cent,” he said. According to Kant, India’s commercial hubs were facing a bad situation and until the virus was contained there, the economy would not return to normal. “Without a vaccine, full-fledged economic activity is very difficult,” he said.

government is working on a package of structural reforms across sunrise sectors. healthcare, education, mobility, genomics, AI, 5G network, fintech and manufacturing are high priority areas for rapid and radical structural reforms. the plan includes creating 2-3 autonomous zones without regular labour and land laws. to promote manufacturing, Kant suggested that the states should fix electricity and land rates.

Positive

https://www.businesstoday.in/current/economy-politics/pepsico-committed-india-usd-5-trillion-economy-vision-scale-up-agri-based-food-business-says-ceo/story/368474.html

Food and beverages major PepsiCo, which is setting up a mega food manufacturing plant in Uttar Pradesh, on Saturday said it will bring in foreign direct investment to power the USD 5 trillion economy vision of a 'New India'. Ahead of the Uttar Pradesh government's second ground-breaking ceremony for projects worth Rs 65,000 crore, PepsiCo India President and CEO Ahmed ElSheikh said in a statement that the company is committed to scale up the agri-food business in the country. "PepsiCo in India remains committed to sustainably scaling up its agri based food business in the country," said the statement posted on a twitter handle of the UP government. ElSheikh further said: "Our relationship with India is 30 years strong and our journey here began from the state of Uttar Pradesh. Our bond with the country's farmers also dates 30 years... Today we work closely with over 24,000 farmers across 13 states, which includes Uttar Pradesh." The second ground-breaking ceremony now being organised in Lucknow is also a testament to the Prime Minister Narendra Modi's vision of ease of doing business and PepsiCo India is excited to be part of it, he said. "We reaffirm our commitment to the ongoing development revolution in UP and believe this partnership will further strengthen the strong bond we share with the state," ElSheikh added. The Uttar Pradesh government is organising the second ground-breaking ceremony for projects worth Rs 65,000 crore, for which MoUs were signed during the UP Investors' Summit last year, here on Sunday. Union Home Minister Amit Shah will inaugurate the ceremony, according to an official release. The state government would also hold sessions, a CEO round table and B2G meetings during the event to discuss issues related to various sectors. Also read: Why is it important for Coke and Pepsi to hive off their bottling operations? Also read: Reckitt Benckiser names PepsiCo executive Laxman Narasimhan its new CEO

pepsiCo set up mega food manufacturing plant in UP. company will bring in foreign direct investment to power 'new india' agri-food business. u.s. government is organising second ground-breaking ceremony for Rs 65,000 crore projects. u.s. government has signed a number of MoUs with the company.

Positive

https://economictimes.indiatimes.com/industry/auto/cars-uvs/baleno-crosses-8-lakh-cumulative-sales-milestone-maruti-suzuki/articleshow/78867731.cms

New Delhi: The country's largest carmaker Maruti Suzuki India on Monday said its premium hatchback Baleno has crossed the 8 lakh cumulative sales milestone since its launch in 2015.The model became the best-selling premium hatchback within a year of launch and crossed the 8 lakh sales milestone in record time of 59 months, Maruti Suzuki India ( MSI ) said in a statement.MSI Executive Director (Marketing and Sales) Shashank Srivastava said, "This significant milestone of 8 lakh delighted customers within a short span of five years is a testament of our customer-centric philosophy at the core of Baleno's conceptualisation."Baleno has helped the company to cement its position in the premium hatchback segment, Srivastava said adding, the model "is also instrumental in giving recognition to our NEXA channel".The model is exclusively manufactured in India and retailed through 377 NEXA outlets across 200 cities. It is exported to many overseas markets such as Australia, Europe, Latin America, Africa, Middle-East and South-East Asia.The current version of the model is equipped with smart hybrid technology and a BS-VI compliant 1.2 litre petrol engine.

the premium hatchback became the best-selling premium hatchback within a year of launch. it crossed the 8 lakh cumulative sales milestone in record time of 59 months. the model is exclusively manufactured in india and retailed through 377 NEXA outlets across 200 cities. it is exported to many overseas markets such as australia, Europe, Latin America, Africa, Middle-east and south-east Asia.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/china-stocks-lose-steam-as-worries-over-trade-economy-resurface/articleshow/66935125.cms

SHANGHAI: China stocks closed slightly higher on Tuesday after a sharp rally in the previous session on the back of a truce in the Sino-US trade war, as investors come to terms with the fact that the relationship between the two countries remains tense, while China's economy continues to face downward pressure.The blue-chip CSI300 index rose 0.2 per cent, to 3,267.71, while the Shanghai Composite Index gained 0.4 per cent to 2,665.96.US President Donald Trump and Chinese President Xi Jinping on Saturday agreed to a ceasefire, holding off on imposing more tariffs for 90 days starting Dec. 1 while they negotiate a deal to end the dispute following months of escalating tensions. Washington disclosed the 90-day truce period, but Beijing didn't mention it, nor did Chinese media.After studying the news release by the US government, which carries more details, brokerage Zhongtai International said that "US demand on China didn't actually change", but local media reports fanned optimism in China's stock market. In addition, "macro data shows China's economy still faces downward pressure," the brokerage said.The CSI300 financial sector sub-index was higher by 0.04 per cent, the consumer staples sector up 0.1 per cent, the real estate index down 2.03 per cent and the healthcare sub-index up 0.9 per cent.The smaller Shenzhen index ended up 0.43 per cent and the start-up board ChiNext Composite index was higher by 0.434 per cent.Around the region, MSCI 's Asia ex-Japan stock index was weaker by 0.27 per cent, while Japan's Nikkei index closed down 2.39 per cent.At 07:20 GMT, the yuan was quoted at 6.8425 per US dollar, 0.62 per cent firmer than the previous close of 6.8855.The largest per centage gainers on the main Shanghai Composite index were Shenzhen Geoway Co Ltd, up 10.14 per cent, followed by Shandong Hiking International Co Ltd, gaining 10.08 per cent, and Zhonglu Co Ltd, up by 9.99 per cent.The largest per centage losers on the Shanghai index were Xinjiang Winka Times Department Store Co Ltd, down 7.66 per cent, followed by Wuhan Hanshang Group Co Ltd , losing 7.52 per cent, and Junhe Pumps Holding Co Ltd , down by 6.28 per cent.

the CSI300 index rose 0.2%, to 3,267.71, while the Shanghai Composite Index gained 0.4%. the truce in the Sino-US trade war ended on saturday. the yuan was quoted at 6.8425 per US dollar, 0.62 per cent firmer than the previous close. the yuan was quoted at 6.8425 per US dollar, 0.62 per cent firmer than the previous close of 6.8855.

Positive

https://www.financialexpress.com/brandwagon/writers-alley/decoding-the-way-ahead-for-the-consumer-electronics-category-from-an-online-commerce-perspective/1984507/

By Sabiha Khan and Sahil Shah Over 60 days of lockdown, a massive slump in business, and giant bouts of uncertainty looming large on all our heads – it’s a scenario we all relate to and understand only too well. The economy has been hit really hard and according to industry experts one way to revival is for brands and retailers to tap into the surge of demand for online commerce that has been induced by the lockdown. The accelerated boost in e-commerce (from existing and new online customers) that has been noticed due to the lockdown is an opportunity that one should leverage. If the question ‘how’ popped in your mind, read on. Consumer Electronics – Non-essential bust? Consumer electronics as a category has always been big on online marketplaces. Now contrary to popular opinion, consumers have not just been turning to e-commerce for essentials but also non-essentials. While there were fears that due to the restrictions imposed on non-essentials, growth in this category had slumped majorly, there is enough and more evidence showcasing significant recovery. According to research from Forrester, a recovery rate of 35% was noticed in the first week of lockdown 3.0, with order volumes increasing significantly. Searches on Google for Air-conditioners, Smart TV prices, big screen TVs, dishwashers, have been on the rise, and this fact is corroborated by the fact that brands are also seeing inquiries coming in for these products as well as searches on online marketplaces for these products are increasing. Interestingly, according to Amazon, dishwashers sold 31 times more than pre-Covid-19 levels and robotic vacuums sold 33 times more compared to before the lockdown. With salons shut, search for trimmers increased 4.5 times on Flipkart and PayTm Mall saw an overall increase of 1.5 times in demand for consumer electronics overall. Consumer Trends – The Post-Covid Difference A lot has shifted for the regular Indian consumer in terms of behaviour as well as preferences. Understanding these trends can help brands decide which products to focus on and leverage online. The need to work-from-home/ learn-from-home has resulted in the need for investments in additional work-systems particularly for larger families that operated only on one work system until now There is an emergence of a new kind of ‘Home essentials’ category – Non essential products for a lot of people like ovens, microwaves, dishwashers, eyebrow upper-lip hair removal pens, epilators, have now turned essential due to social distancing norms that prevent access to human assistance, thus giving rise to the need for “chore convenience” Home entertainment is no longer a luxury but more a necessity and will continue to emerge as a key area, as people will continue to take precautions with respect to stepping out in public Consumers will be anxious where installations/ demos and maintenance/ servicing is concerned. Hence, online tutorials to fix products, remote access checking, safety stipulations, etc. may become the norm because of long term social distancing Authenticity of products will continue to remain a concern and consumers will seek ways to assure themselves of the same Due to financial constraints, consumers may look at a down-grade in terms of product purchase Apart from this there is now a wave of first time online buyers who showcase some differences compared to the regular online buyers: First time online buyers will be more prone towards low-to medium ticket size products and using cash-on-delivery rather than a prepaid service. Additionally, they will need hand- holding wrt online financial options to convince them towards larger ticket items Possibly they will be comfortable with vernacular languages and will be from Tier II/III cities Will be shopping online through a mobile phone and hence data used/ time to load/ ease of navigation/ product photos/ etc. will become extremely important How can brands navigate through the storm online? There is clearly a propulsion where the e-commerce market for consumer electronics is concerned. Products that seemed not so popular (dishwashers/ robotic vacuum cleaners) have started increasing in relevance for consumers. So how does one take advantage? Definitely get your hygiene in place: While this may seem like the most mundane of things to do, it is the most important of all, especially to improve discoverability. Make sure your A+ content is in place and your brand stores across online marketplaces are updated. Shoppers like to make informed purchases. As a brand, make sure you identify highlights and lowlights of your products from reviews, compile or update an existing list of frequently asked questions, and respond to customers as they reach out. Solve Warehousing in the short term and plan for Omnichannel in the long term: Of the many reasons online consumers give for abandoning their cart, some of the most common excuses revolve around problems with fulfillment. As such leveraging automation and third-party logistics including opting for marketplace driven options like (Fulfilled by Amazon) to take care of supply chain issues would be beneficial. In the long term, consider going omnichannel ( like MI ) and adopting multiple fulfillment options. One way to go omni- channel could be through establishment of specific OR conversion of certain non- performing retail outlets into “dark stores” or “hybrid stores”, to facilitate a ‘click and collect’ model of order fulfillment. Ensure your digital content addresses consumer concerns: Instill consumer confidence by communicating the adoption of safety measures especially with respect to contact-less delivery + contact-less installation and contact-less servicing. For example, brands like Sony, Samsung, Panasonic, Haier and Godrej Appliances, etc. are leveraging Livechat, WhatsApp, DIY video as well as on-call assistance, on a real-time basis and also putting up content for consumers to check on their appliances themselves. Additionally, do not wait for the tide to turn, act now to stay top-of mind by encouraging consumers towards a call to action like for example, encouraging them to “add to wishlist” or provide a pre-booking incentive. Leverage Vernacular + Colloquialism effectively: It is important to understand how the audience is referring to your products or what is the colloquial way in which they refer to a particular product so as to capture that in your search keywords online. For example: Racold innovatively deployed a phonetically influenced keyword strategy based on the search input of its audience looking for geysers online. This has now become a regular practice on Amazon. Here’s the casetudy. Also, be on the lookout for more vernacular languages adoption; for instance, Paytm Mall has around 10 languages in which listings can be accessed, thus opening new markets/ opportunities. Go PWAMP, Go Mobile: We all know that mobile is going to be the key facilitator for online commerce, so focus on getting a mobile first ecommerce strategy in place. Progressive Web Apps + Accelerated Mobile Pages together drive efficiency of page loads & effectiveness of better commerce. Thus, use this advanced technology to create websites that have the look and feel of a mobile app and can be accessed with or without the mobile app installation. Plus, increase SEO thereby discoverability, as Google algorithm recognizes and promotes such pages faster. Also, on owned platforms, leverage 360 images, high definition photos + product videos which can help understand the product better by taking into consideration both screen size and screen resolution – especially for high ticket appliances like refrigerators/ smart TVs, etc. Bring your offline retailers and distributors online: Recognize digital as a key element in your consumer journey. By bringing your offline retailers and distributors online you can facilitate e-commerce avenues for them which in turn helps build better relations. Samsung is a frontrunner in this and has facilitated many digital interventions for its offline retailers to help them take advantage of the online demand. Owned versus Marketplace: Yes, you should have an ecommerce operation that belongs to the brand. The primary reason for this is data. When a customer directly buys online from you, it helps you to collect first-party data that you may utilize to personalize your marketing efforts including after-sales efforts (servicing reminders, software upgrades, etc.) which are very crucial in the consumer electronics industry. If you are existing in a high ASP category and have a range of products, then you must think of building first party data & a CRM around it. Brands that treat data seriously will survive in the digital economy in the long run. There will be no third-party data in the future as privacy increasingly becomes a concern across the world and in India . And besides data, an owned platform also earns a fair amount of trust from the consumer while the brand is able Threat of Private Label Brands: Online retail partners (like Amazon) have increasingly started offering private label products which were originally manufactured by established brands. This trend is noticed very strongly among kitchen appliances, home electronics, and personal electronics where the consumer is looking for better value and is not necessarily brand loyal. Hence, by selling directly to consumers some of this threat can be mitigated. Go for outcome based media: From now onwards, look at every rupee spent from a ROI point of view – which means all your digital marketing efforts should drive intent and in- market consumers to take action. Additionally, the digital spends mix should have a significant part allocated to spends on eComm platforms. Besides search there are lots of in-market audience ads once can opt for, on the platform and even off it. For instance, through partnerships like Flipkart X Disney Hotstar one can target Flipkart audiences on Disney Hotstar’s Content or using the upcoming Amazon DSP to leverage the most realistic in-market audiences across the internet. Essentially, look at all spends that drive incremental or exponential growth for your business. Conclusion With Consumer Electronics projected to grow at 11% CAGR till 2025 in India; eCommerce with its almost double-digit growth of 20% CAGR will play a significant role. And not just that, we strongly feel that a large portion of the Consumer Electronics business is going to be influenced by digital and we advise you to think very hard on all aspects of “digital enabled commerce” and take that moonshot, now, more than ever! Also, while you spruce up your digital commerce efforts, keep an eye out for niche opportunities with respect to re-commerce or resale/ renting of products, given the emerging consumer needs. Lastly, in the words of Bob Willett, former president of Best Buy International – “The sooner we drop the ‘e’ out of ‘e-commerce’ and just call it commerce, the better.” Too many of us feel daunted by the term “e-commerce” and as such treat it as a separate entity when you should actually be including it as a part of your business as usual. #EcommerceEssentialHai, just has some different rules but it definitely deserves a valid seat at the table. Sabiha Khan is VP, strategy, planning and new business of WATConsult while Sahil Shah is executive vice president, WATConsult

consumer electronics as a category has always been big on online marketplaces. recovery rate of 35% was noticed in the first week of lockdown 3.0. search for trimmers increased 4.5 times on flipkart and PayTm mall. e-commerce is booming as more people are turning to e-commerce. a new kind of work-from-home/ learn-from-home is emerging.

Positive

https://economictimes.indiatimes.com/markets/stocks/news/sensex-nifty-shrug-off-trade-war-fears-to-end-higher/articleshow/70552947.cms

NEW DELHI: Equity benchmarks Sensex and Nifty ended higher in Tuesday's trading session supported by metal, pharma and auto stocks as markets shrugged off concerns of US-China trade war. The markets also cheered research firm Credit Suisse 's report which upgraded Indian equities to ‘Small Overweight’ from ‘Market Weight’ citing India's improved valuations relative to the rest of the world.Analysts said that the benchmarks witnessed valuebuying in banking, metal, pharma and auto counters despite weak domestic and global cues as investors awaited the RBI’s monetary policy decision scheduled on Wednesday.It is widely expected that RBI will cut the benchmark interest rate for the fourth time in a row to boost the economy at a time when key indicators are pointing towards a slowdown, analysts said.Analysts also felt that hopes of an economic stimulus by the government bolstered sentiment as the government on Monday said it will soon hold discussions with representatives of foreign portfolio investors amid continuing overseas fund outflow from the markets following the decision to impose a surcharge on a certain class of such investors.Besides, the Finance Minister Nirmala Sitharaman said she would meet representatives of various sectors and "fairly quickly" come out with steps to help them.Investors also cheered data which showed India’s services sector activity rise to a 12-month high in July, boosted by fast output growth and strong domestic and international demand, pushing job creation to an eight-and-a half year high.Analysts expect volatility to persist as the market is expected to be largely driven by the ongoing quarterly earnings and the outcome of the RBI policy meet outcome on Wednesday.BSE Sensex closed 277.01 points, or 0.75 per cent, higher at 36,976.85. While NSE Nifty ended at 10,948.25, up 85.65 points or 0.79 per cent.In the 30-pack Sensex, 22 stocks ended in the green and 8 in the red with Power Grid as the worst performer and YES Bank the best. RIL, TCS, Tata Motors and Bajaj Auto too joined RIL on the losers list, slipping up to 2 per cent. Tech Mahindra , Bajaj Finance, Maruti Suzuki and Bharti Airtel were among other Sensex stocks that advanced.The BSE Midcap index advanced 1.44 per cent and the BSE Smallcap index ended 1.72 per cent higher outperforming benchmark Sensex.BSE Capital Goods index recorded gains of 2.12 per cent followed by Telecom and Realty index. BSE Energy was among the worst performers.In terms of index contribution, HDFC, ICICI Bank , L&T and Axis Bank were the top support while RIL, TCS, Infosys and Power Grid were the top drag on Sensex.Nifty closed 0.65 per cent higher and advance decline ratio was at 2:1. other indices, barring Nifty Media, Technology and Energy, closed in green. Nifty Mid cap index managed to gain over 1.5 per cent on the back of exceptional strength in SRF and DHFL. Today, we saw massive short covering in fundamentally weak companies which have fallen more than 25 per cent in last three months, implying short term bottom for the market is in place. Bank stocks closed higher ahead of tomorrow’s monetary policy announcement.Market recouped Monday’s losses aided by broadbased buying across sectors supported by FMs decision to have a discussion with FPIs amid continued outflow of liquidity. Global cues were positive due to China’s step to prevent further slid in yuan, which could ease trade war concerns. While hope for a 25 basis point rate cut in the RBI meet tomorrow provided some support to the trendOn the global front, Asian shares closed lower after US tagged China a currency manipulator leading to a rapid escalation of the US-China trade war. MSCI 's broadest index of Asia-Pacific shares outside Japan ended down 0.75 per cent after brushing its lowest since January. It has lost 3.7 per cent so far this week. The Shanghai Composite Index retreated 1.4 per cent, while Japan's Nikkei shed 0.7 per cent.European stocks traded higher in morning trade after posting their biggest two-day drop in over 3 years, as upbeat German data soothed some of the nerves around the past week's escalation of US-China trade tensions.

equity benchmarks Sensex and Nifty ended higher in trading session. markets cheered report which upgraded Indian equities to ‘Small Overweight’. Sensex closed 277.01 points higher at 36,976.85. while Nifty ended at 10,948.25, up 85.65 points or 0.79 per cent.

Positive

https://www.moneycontrol.com/news/business/markets/wall-street-opens-higher-on-signs-of-lockdown-easing-5187281.html

US stock markets jumped at the open on Friday as some states prepared to relax curbs imposed to contain the coronavirus outbreak, with a surprise rise in orders for US-made capital goods adding to the gains. The Dow Jones Industrial Average rose 112.98 points, or 0.48 percent, at the open to 23,628.24. The S&P 500 opened higher by 14.84 points, or 0.53 percent, at 2,812.64. The Nasdaq Composite gained 35.32 points, or 0.42 percent, to 8,530.08 at the opening bell.

the Dow Jones industrial average rose 112.98 points, or 0.48 percent, at the open. the S&P 500 opened higher by 14.84 points, or 0.53 percent, at 2,812.64. the Nasdaq Composite gained 35.32 points, or 0.42 percent, to 8,530.08 at the opening bell. some states are easing curbs imposed to contain the coronavirus outbreak.

Positive

https://www.financialexpress.com/economy/fm-nirmala-sitharaman-press-conference-live-updates-on-modis-20-lakh-crore-economic-land-labour-law-liquidity-package/1958089/

FM Nirmala Sitharaman Press Conference Highlights: The government has finally taken up steps to resolve the pain of migrant workers, small farmers, and street vendors with the second round of measures largely focusing on providing work and benefits for the poor. The government introduced one nation one ration card, through which people can buy ration at any ration depot in the country, to help the poor. Along with an increase in wage rate from Rs 182 to Rs 202, announced earlier, it was also announced that migrant workers will now get work in their own states under MNREGA as more opportunities have been created. Street vendors were also tended to as the government announced a special credit facility of Rs 5,000 crore for them. To be launched within a month, the scheme will help 50 lakh street vendors, providing them with an initial working capital of Rs 10,000. To strengthen the farm sector, nearly Rs 2 lakh crore will be given to farmers through Kisan credit cards. 2.5 crore farmers, including fishermen and animal husbandry farmers, will also get institutional credit at a concessional rate, Sitharaman said. Government’s efforts to change labour laws, along with its effort to make minimum wages applicable to all workers were also highlighted. On Tuesday the Prime Minister had said that the government is rolling out a Rs 20 lakh crore economic package to help thwart the fallout of coronavirus and lockdown, and also to help make India a self-reliant economy. Live Blog Highlights Two twinned measures are expected to vastly improve the reach, efficiency and ease of access to India’s PDS Two twinned measures announced by the FM today are expected to vastly improve the reach, efficiency and ease of access to India’s Public Distribution System: Full national portability of ration cards, as well as complete automation of Fair Price Shops across the country, by March 2021. This will be a game-changing measure to improve the nutritional security of vulnerable sections of our society – Elias George, Partner and National Head, Infrastructure, Government and Healthcare, KPMG Migrant workers need to be assisted in restarting the economy Agriculture sector and rural economy will restart economic activities earlier and they need timely assistance by way of working capital. Similarly, migrant workers need to be assisted in restarting the economy as also the urban poor and self-employed to rebuild their livelihoods. Therefore, focus on these sections is appropriate and timely. Hopefully, the focus of the stimulus in the next installments will be to help the sectors that have suffered a great deal and to empower the States in rebuilding the economy – M Govinda Rao, Chief Economic Advisor, Brickwork ratings. Modi govt’s answer to migrant workers, street vendors crisis too little, too late; this issue remains Finance Minister Nirmala Sitharaman today announced a slew of measures for migrant workers and street vendors; however, how effectively these steps will help the undocumented section can not be determined yet. Read full story here Govt’s measures too little, too late The opacity and the invisibility of India’s informal workers will be a major hindrance in realising this, based on how ineffectual similar endeavours have been in the past, such as the Unorganized Workers Social Security Act (2008); hardly any worker possesses smart cards as per the Act. How will the package reach the recipients when most of them are undocumented? The modalities, it seems, haven’t been as thought out for it to truly be beneficial. This feels too little, too late. – Trinanjan Radhakrishnan, project coordinator, Oxfam India, told Financial Express Online Government is acknowledging that more needs to be done for the migrants It is good to see that government is acknowledging that more needs to be done for the migrants, workers, street vendors, and another marginalized segment of our population. This crisis has pointed out glaring shortcomings in not only understanding their needs and their roles in nation-building but also something more basic – complete lack of data. So, announcements about defining and registering these workers will help in the future. But, like this, many other announcements today are welcome reforms, but those will take long time to fruition – Partha Chatterjee, Dean, International Partnerships, Professor and Head of the Economics Department, Shiv Nadar University. 2 lakh cr loan to the Indian farmers is a big relief to the sector The government has rightfully identified the agricultural sector as one of most impacted and the 2 lakh Cr loan to the Indian farmers is a big relief to the sector. As India moves towards a new economic revival with the spirit of self-reliance infused by Hon’ble PM, the agricultural sector has to be rapidly modernised and digitalised to have a supply chain continuity going on the face of any future crisis – Amith Agarwal, Co-Founder & CEO, AgriBazaar Weak to flat opening tomorrow The key takeaways from the second round of stimulus are more labour driven for the migrant workers, markets are still awaiting some reforms for the corporate and consumers to benefit from the stimulus. We expect a weak to flat opening tomorrow – Vikas Jain, Senior Research Analyst at Reliance Securities Rental housing complexes via public-private partnership will go a long way in resolving housing issues for migrant workers and urban poor The Ministry’s announcement to build rental housing complexes via public-private partnership will go a long way in resolving housing issues for migrant workers and Urban Poor who currently live in pitiable conditions. The concessions promised to manufacture units and industries to take up such projects and also allowing them to follow the BOT model similar to road projects, for constructing these rented dwellings will encourage many new players to enter the affordable housing segment – Ravindra Sudhalkar, CEO at Reliance Home Finance. TDS on 23 items and TCS on 12 items of have been slashed TDS on 23 items and TCS on 12 items of have been slashed by 25 per cent. No effect on salaries – Revenue Secretary TDS and TCS have been cut to increase liquidity in the market TDS and TCS have been cut by 25 per cent to increase liquidity in the market – Revenue Secretary Modi govt’s PMAY scheme extended! Big benefit for those earning Rs 6 to Rs 18 lakh The last date for anyone wishing to avail the PMAY CLSS scheme was March 31, 2020 but now stands at March 31, 2021. The other category of LIG/EWS, however, has its last date of March 31, 2022. Finance Minister Nirmala Sitharaman in her press conference today has extended the last date of the Pradhan Mantri Awas Yojana (PMAY) Credit-Linked Subsidy Scheme (CLSS) both for the MIG-I and MIG-II categories. Read full story here 1200 shramik trains are ready to run 1200 shramik trains are ready to run, which means 300 shramik trains can run every day to transport migrant workers – FM Sitharaman Technology-driven ration card Aadhar number of all family members will be seeded in the new ration card FM Sitharaman appreciates media persons FM Sitharaman appreciates media persons, requests to spread words about what the government is doing. Rs 2 lakh crore will be given to farmers through Kisan credit card Nearly Rs 2 lakh crore will be given to farmers through Kisan credit cards. 2.5 crore farmers, including fishermen and animal husbandry farmers, to get institutional credit at a concessional rate – FM Sitharaman Government gives Rs 30,000 crore additional emergency working capital funds through NABARD to help farmers The government gives Rs 30,000 crore additional emergency working capital funds through NABARD to help farmers in post harvest Rabi works and for the preparation of Kharif – FM Sitharaman Rs 6,000 crore push to CAMPA funds The government gives Rs 6,000 crore push to CAMPA funds, aims to employ Adivasi and tribal people for afforestation work, forest protection, wildlife protection, etc Credit-linked subsidy scheme extended till March 2021 We wish to give the middle-income group (income of Rs 6 – 18 lakh per year) affordable houses under credit-linked subsidy scheme by extending it to March 2021- FM Sitharaman. 2.5 lakh middle-class people to get benefited through this move. Initial working capital of Rs 10,000 will be given to each street vendor Street vendors will get special credit facility of Rs 5,000 crore. Within a month, the government will launch the scheme for 50 lakh street vendors. Initial working capital of Rs 10,000 will be given to each street vendor – FM Sitharaman. Mudra Shishu loan borrower will get interest subvention for the next 12 months Current portfolio of Mudra Shishu loan is up to Rs 50,000 or less. After the three months moratorium, when borrowers start to repay, they will get interest subvention for the next 12 months. Converting government-funded housing in major cities to affordable rental housing Govt is looking forwards to convert government-funded housing in major cities to affordable rental housing complexes for urban poor migrants Today’s announcements more about making working conditions easier and more conducive for worker So far, today’s announcements seem more about making working conditions easier and more conducive for workers, through changes in codes, rules and regulations; rather than direct liquidity, monetary or fiscal help. Govt introduces one nation one ration card In order to benefit migrant workers, the government has introduced one nation one ration card, through which people can buy ration across any ration depot in the country. Free food grains supply to all migrants in the next two months, including non-card holders FM Sitharaman has announced free food grains supply to all migrants in the next two months. For non-card holders, they shall be given 5 kg wheat or rice or 1 kg pulse per family. Rs 3,500 crore will be spent on this in the next two months to benefit 8 crore migrant workers. EPF support of 24% has been extended for the next three months EPF support of paying 24% is already borne by the government, it has now been extended for the next three months – FM Government aims to make ESIC benefit compulsory to all establishments The government aims to make ESIC benefit compulsory to all establishments. Provision is also for social security fund for informal sector – Finance Minister Govt aims to make minimum wage universal, remove disparity of minimum wage, compulsory appointment letter The government aims to make minimum wages applicable to all workers, which is now applicable only to 30% to workers. It also aims to remove disparity of minimum wage and compulsory give appointment letter to all worker- FM Sitharaman More migrant workers can now get work in their own states More migrant workers can now get work in their own states under MNREGA as more work has been generated. Wage rate has also been increased from Rs 182 to Rs 202. 14.62 crore man days of work has been increased, which is actually 40-50% more men enrolled 14.62 crore man days of work has been increased, which is actually 40-50% more men enrolled, compared to last May. 2.33 more wage seekers can be engaged – FM Sitharaman Paisa portal pilot project will be started across the country Paisa portal pilot project will be started across the country, which was earlier restricted only to Gujarat 7200 new SHG group has been newly formed 7200 new SHG group has been newly formed, giving livelihoods to urban poor – Govt Urban poor are contributing in Covid period under SHG scheme 12000 self-help groups all over the country have produced over 3 crore masks and 1.2 lakh litre of sanitisers. Urban poor are contributing in Covid period. GoI has allowed state governments to use disaster response fund to arrange food and shelter for the migrant workers GoI has allowed state government to use disaster response fund to arrange food and shelter for the migrant workers. Rs 11,000 crore has been sent in that fund – FM Sitharaman In the past two months, 63 lakh agriculture loans has been waived off In the past two months, 63 lakh agriculture loans has been waived off, which means Rs 86,600 crore waived off – FM Sitharaman Rs 6,700 crore has been awarded as working capital to state agencies Rs 6,700 crore has been awarded as working capital to state agencies for procuring agriculture produce – FM Sitharaman Nabard has refinanced Rs 29500 crore for rural farmers As liquidity support for farmers and rural economies has been happening in the last two months, Nabard has refinanced Rs 29500 crore for rural farmers – FM Sitharaman Today’s announcement is for poor section, migrant workers, and farmers Todays’ announcement is for poor section, migrant workers, and farmers, in addition to what was announced yesterday – Anurag Thakur Modi government’s work towards farmers is appreciable – Anurag Thakur Anurag Singh Thakur, MoS, Ministry of Finance hails Modi government’s work towards farmers. Interest subvention scheme extended till May-end Interest subvention was extended till March, has been further extended till May-end. FM Nirmala Sitharaman press conference begins. FM Nirmala Sitharaman press conference begins. Agriculture measures on cards

government introduced one nation one ration card to help the poor. migrant workers will now get work in their own states under MNREGA. street vendors also tended to as special credit facility of Rs 5,000 crore announced. to strengthen farm sector, nearly Rs 2 lakh crore will be given to farmers. two twinned measures expected to vastly improve reach, efficiency and ease of access to india’s public distribution system.

Positive

https://economictimes.indiatimes.com/blogs/et-editorials/jeff-justin-and-an-angry-government-of-india/

It is obviously no consolation to Jeff that just under two years back Justin, too, got an icy cold shoulder from New Delhi. It’s no consolation for Amazon boss Jeff Bezos, in India after four years, either that the Canadian Prime Minister Justin Trudeau had largely himself to blame for his disastrous early 2018 tour. The Canadian PM — incredibly — had invited along a Khalistani extremist who was convicted of attempted murder in Canada. New Delhi was rightly incensed. Trudeau spent eight days here power-dressing in ethnic Indian attire while powersthat-be handed out a very effective dressing down. Bezos, in contrast, is trying his level best to tick all the right boxes. He’s sung praises of India’s small enterprises, declared he feels ‘inspired’ by India, talked about Indians’ ‘energy’ and ‘grit’, promised to create a million jobs and invest a billion dollars — and just in case anyone was still in doubt, put all this and more nice things down in a letter posted on Amazon’s site. But as New Delhi sees it, a million jobs, a billion dollars and scores of nice words ain’t making up for Bezos’ behemoth apparently doing all kinds of bad stuff to our sons-of-the-soil brick-andmortar retailers. We are told Amazon’s pricing is predatory, its compliance, crooked and its intentions, iffy. And there’s the matter, apparently, of a Bezos-owned American newspaper that’s been critical of some of New Delhi’s headline-making decisions. So, Alexa may be speaking in Hindi and telling stories from Panchatantra, but there’s no happy ending likely for Jeff ’s India story this time. You can have differences and still be welcoming. If a billion dollars is indeed only for funding losses, and this is debatable, it’s still a billion dollars flowing into the economy — to fuel economic activity, including for small biz, proof of faith from one of the world’s largest enterprises in one of the world’s largest economies, where growth has slowed and job creation has stalled. And, mind you, despite its current size, India’s ecommerce is still a tiny portion of its retail trade. So, talk of Amazon or Flipkart killing organised retail is hard to square with basic facts. In short, Jeff doesn’t quite deserve what Justin got. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Economic Times. END OF ARTICLE

amazon boss bezos is trying his level best to tick all the right boxes. he's sung praises of India's small enterprises and declared he feels ‘inspired’ by india. but he's also promised to create a million jobs and invest a billion dollars. despite its size, the company is still a billion dollars flowing into the economy.

Positive

https://www.moneycontrol.com/news/business/real-estate/fm-nirmala-sitharaman-announces-rs-10000cr-fund-for-last-mile-funding-of-stuck-housing-projects-4436191.html

Finance Minister Nirmala Sitharaman on September 14 announced a special window worth Rs 10,000 crore for last-mile funding of non-NPA and non-NCLT housing projects. This will provide relief to homebuyers stuck in incomplete projects totaling nearly 3.5 lakh units across the country, "A special window to provide last mile funding for housing projects which are non-NPA and non-NCLT projects and are networth positive in the affordable and middle-income housing category will be set up," the FM said addressing her fourth such conference since mid-August to announce measures to boost the ailing economy. The objective is to focus on the construction of unfinished units that number around 3.5 lakh units, she said. "The size of the fund would be Rs 10,000 crore and would be contributed by the government of India and roughly the same amount by outside investors," she said. For the key updates of FM Nirmala Sitharaman's press conference, follow our LIVE blog The government of India on the lines of the NIIF can contribute to the fund while the rest of the investors would be LIC and other institutions and private capital from banks, sovereign funds, and DFIs, she said. The fund shall be set up as a category II AIF Trust and would be professionally run with experts from housing and the banking sector, she said. The FM had hinted earlier that some relief would be in the offing for homebuyers. "We have had consultations with homebuyers, who have paid their advances and sitting without knowing what to do, and promoters that are sitting with no money to further their projects,” FM had said earlier. Housing and Urban Affairs Minister Hardeep Singh Puri had also said remedial measures would be taken on the three big real estate projects in Delhi-NCR – Unitech, Amrapali and Jaypee – thanks to action by the Supreme Court. Also Read: Will a stressed asset fund help revive the real estate sector? As per Anarock research, NCR has the largest pile-up of stalled units at 1.18 lakh homes (68 percent of the total stuck stock) spread over 67 projects, with an overall value of Rs 82,200 crore. Of this, nearly 69 percent (or 83,470 units) are already sold out. During a meeting on August 11 with Finance Minister Nirmala Sitharaman, realtors apex bodies CREDAI and NAREDCO had expressed concern that liquidity situation has worsened after the IL&FS crisis. In a separate meeting with the finance minister, Forum for Peoples' Collective Efforts (FPCE) had said earlier that five lakh homebuyers are stuck in various housing projects across the country. It had demanded the creation of a Rs 10,000 crore stress fund to complete such projects and provide relief to these homebuyers. On August 23, finance minister Nirmala Sitharaman had announced that the National Housing Bank would provide additional liquidity of Rs 20,000 crore to HFCs and the minister had said that she would come up with an announcement for the real estate sector including for stalled projects soon.

finance minister announces special window worth Rs 10,000 crore for last-mile funding. this will provide relief to homebuyers stuck in incomplete projects totaling nearly 3.5 lakh units. the objective is to focus on the construction of unfinished units that number around 3.5 lakh units. the fund would be contributed by the government of india and roughly the same amount by outside investors.

Positive

https://economictimes.indiatimes.com/magazines/panache/want-to-learn-how-to-accelerate-startup-growth-attend-bgs-2020-to-learn-real-time-business-life-skills/articleshow/73976404.cms

Agencies Swami Sukhabodhananda is an Indian monk who has been sharing the wisdom of ancient Vedas with millions of people across the globe. Are you a business owner thinking how to accelerate your business growth ? The reality is, if you want to accelerate the performance of your venture, then you must work on the roots that influence its performance.Most entrepreneurs are struggling for survival and are not even playing the game of growth because their business is solely dependent on them. They are the driving force behind every function of the business — marketing, sales, operations, customer service, accounts, human resources or management. And this is what kills growth of the business.To produce results, one requires focus with consistency. When too many things are dependent on the business owner, he/she will focus only on the issues that are burning and will end up in fire-fighting mode.By doing this, they are only playing the game for survival, while the strategic growth of the business takes a back seat. In a nutshell, to build a successful business, the entrepreneur has to learn how to reduce dependency on himself.Business Growth Summit 2020 ( BGS ) understands the criticality and bridges this gap by helping you learn real-time business and life skills.BGS is considered one of India’s leading business events and will present internationally-acclaimed speakers to a packed house. It will not only open your mind to various possibilities but also make you aware about the broad range of opportunities around, strengthen your core values and upgrade your skillset.BGS is a one-day intensive seminar that will impart knowledge, real-life experiences and give you the tools to grow your business.Prepare to be inspired with headliners such as Swami Sukhabodhananda, Rajiv Talreja and Siddharth Rajsekar.Swami Sukhabodhananda is an Indian monk who has been sharing the wisdom of ancient Vedas with millions of people across the globe. In his talks, he blends ancient wisdom of various world philosophies with modern thoughts to provide tools to grow in life. His unique ability to deconstruct the most critical challenges of the individuals/corporates and offer holistic solutions makes him one of the most soughtafter corporate gurus.At BGS, he will be talking about how to explore new shores, evolve new paradigms and survive new challenges in this changing world without losing balance.Talreja is one of India’s leading business coaches and the author of Lead or Bleed. He has been instrumental in hand holding businesses across India through proven systems and business tools. At BGS, he will share the psychology and the key focus areas of ‘how to build a sustainable business’ that can grow without you.Rajsekar is one of India’s leading information marketing specialists, having coached over 50,000 people across four nations. He has assisted more than 5,000 business owners, trainers and experts in working towards highly successful digital businesses through monetisation of digital products, coaching and affiliate marketing.The seminars are being organised by Success Gyan, as part of the CEO and founder Surendran Jayasekar’s vision to ‘bring the world’s best to India and take India’s best to the world’.With over 150 seminars in a year, these talks have transformed over half a million lives across 11 different cities in India.: February 23: Taj Yeshwantpur, BengaluruGeneral tickets are priced at Rs 1,199 and VIP at Rs 5,499. Offer is valid only for today.VIP ticket holders will get an individual picture with Swami Sukhabodhananda For more details call 9677022263 and for online booking bgs.successgyan.com

business growth summit 2020 ( BGS ) is one of india’s leading business events. it will impart knowledge, real-life experiences and give you tools to grow in life. he will be talking about how to explore new shores, how to create a better world and how to create a better world. he will also be sharing his insights on how to create a better world.

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https://www.financialexpress.com/economy/vision-document-soon-to-ensure-50-per-cent-value-addition-to-metals-produced-in-odisha-cm-naveen-patnaik/1764244/

Odisha Chief Minister Naveen Patnaik has said that his government will soon unveil a vision document to ensure 50 per cent value addition to the metals produced in the state for the development of the downstream sector. The chief minister said Odisha is marching ahead on the path of industrial development as it has promulgated several progressive and sector-specific policies. “My Government is coming up with a Vision Document which aims at more than 50 per cent value addition to the metals produced in the state for the downstream development,” Patnaik said while inaugurating the Enterprise Odisha 2019 here on Wednesday. The state government has taken up several proactive measures to create an industry-led ecosystem of value addition, sustainable employment generation and revenue augmentation as it focused on 5Ts Transparency, Technology, Time and Teamwork for achieving Transformational goals, he said. “I would encourage all large industries as well as MSMEs to work together in developing a robust downstream eco-system in the state, which will lead to immense employment opportunities, as envisaged in the Vision 2030 for downstream development,” Patnaik said. He said an investment intent of more than Rs 4 lakh crore cropped up during the Make in Odisha Conclave 2018. “Ninty one proposals have already been approved and these projects are at various stages of implementation,” Patnaik said adding that the next edition of the event, Make in Odisha Conclave will be held next year. Speaking at the event, Rahul Sharma, CEO Alumina Business, Vedanta Ltd, said Odisha with a lions share of the countrys coal and mineral reserve is perfectly poised to tap its natural resources. “Abundance of natural resources, excellent infrastructure and its strategic location in the East coast makes Odisha a potential mining and manufacturing powerhouse of the world. This will help Odisha emerge as a USD 1 trillion economy by 2030,” Sharma said. He claimed Odishas mineral potential has a direct influence on the economy of India and World Trade.

the state government has promulgated several progressive and sector-specific policies. the state has taken up several proactive measures to create an industry-led ecosystem. an investment intent of more than Rs 4 lakh crore cropped up during the Make in Odisha Conclave 2018. the next edition of the event, Make in Odisha Conclave will be held next year.

Positive

https://www.businesstoday.in/markets/stocks/sensex-closes-higher-nifty-maruti-tata-motors-vedanta-top-gainers/story/287690.html

The Sensex and Nifty closed higher in trade today even as the Indian currency's rise above the 73 mark strengthened trading sentiment and Asian markets surged as US President Donald Trump and his Chinese counterpart Xi Jinping spoke by phone for resolving trade tensions between the two countries. While the Sensex gained 579 points or 1.68% to 35,011, the Nifty rose 1.66% or 172 points to 10,553 level. This is the highest closing for Sensex since October 4, when it had finished at 35,169.16. On a weekly basis, both the Sensex and Nifty halted their two-week losing streak by surging 1,662.34 points or 5 per cent, and 523 points or 5 per cent, respectively. Maruti (6.37%), Tata Motors (6.29%), and Vedanta (6.04%) were the top Sensex gainers. Wipro (3.29%), TCS (1.28%) and Infosys (0.65%) were the top Sensex losers after rupee rose 68 paise intra day today. Market breadth was positive with 1,611 stocks closing higher compared to 1054 ending lower on the BSE. BSE mid cap and small cap indices rose 0.78% and 0.76%, respectively. BSE auto (4.05%), banking (1.42%), metal (3.04%) and oil and gas (2.46%) incides led the gains in trade today. Auto stocks were the centre of brisk activity during the session after some automakers came out with encouraging sales figures for October month. Adding to the upbeat mood, GST collections in October crossed the Rs 1 lakh crore mark, after a gap of five months, on the back of festive spending and anti-evasion measures. The Finance Ministry on Thursday said 67.45 lakh businesses filed Goods and Services Tax (GST) returns in October and deposited Rs 1,00,710 crore as taxes. The BSE and NSE will conduct a special 'Muhurat' trading session on Wednesday, November 7. 'Muhurat' trading, which is conducted on the auspicious occasion of Diwali, will be held between 1700 hrs and 1830 hrs, the stock exchanges said. On Thursday, Sensex erased all gains in a highly volatile session to end 10 points lower as losses in shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters, amid unabated foreign fund outflows. Foreign institutional investors (FIIs), which had been selling on the Indian bourses, made fresh purchases worth Rs 348.75 crore Thursday, while domestic institutional investors (DIIs) sold shares to the tune of Rs 509.17 crore, provisional data showed. Global markets Asian shares advanced on Friday after President Donald Trump and his Chinese counterpart Xi Jinping spoke by phone and the Chinese state media reported progress in resolving trade tensions between their two countries. Hong Kong's Hang Seng index jumped 3.8 percent to 26,365.04 and the Shanghai Composite index added 2.7 percent to 2,676.48. Japan's Nikkei 225 index surged 2.6 percent to 22,243.66 while South Korea's Kospi climbed 3.5 percent to 2,096.00. The S&P ASX/200 in Australia erased early losses to end up 0.1 percent at 5,849.20 and the SET in Thailand rose 0.9 percent. Shares also rose in Taiwan, India and Southeast Asia.

Sensex gained 579 points or 1.68% to 35,011, while the Nifty rose 1.66% or 172 points to 10,553 level. this is the highest closing for Sensex since October 4, when it had finished at 35,169.16. on a weekly basis, both the Sensex and Nifty halted their two-week losing streak by surging 1,662.34 points or 5 per cent, and 523 points or 5 per cent, respectively.

Positive