In recent months, a number of companies have submitted proposals for initial public offerings. The surge comes on the back of a strengthening market. What should you be cautious about before investing?
Kotak, MD of Kotak Mahindra Bank, also emphasised the “need to be very cautious” about opening up the economy even after June, calling it a “very difficult dilemma” for states, and saying a lot depends on the progress made on the vaccination front.
As per the fresh set of regulations, an Indian insurance company with 74 per cent foreign equity should have majority of its directors, key management personnel, and at least one among the chairperson of its Board, its managing director and its chief executive officer; as resident Indian citizens.
Stating that the pandemic has had a disproportionate impact on lower income people and has pushed people back into poverty, he said that we will have to take coordinated steps to ensure that our economy has the foundational strength to move forward.
While the currency with the public has been rising over the last 14-month period, since the pandemic broke out, its pace slowed after July 2020, in one with decline of cases. It however gathered momentum in February 2021 as the cases started rising.
According to data released by the Reserve Bank of India (RBI), while the direct investment to India in FY21 stood at $54.665 billion, FDI by India amounted to $11.299 billion, thereby resulting into a net FDI of $43.336 billion.
Unlike a year ago, the workers have stayed put thus far — however, this may change if the Covid situation does not improve and the shutdown extends for another 2-3 weeks, company officials and union leaders watching the labour dynamics in this industrial ecosystem said.
The VRS scheme brought for MDFVPL’s Patparganj, New Delhi unit, is available for eligible employees till May 31. It has been brought in by the new management that has recently taken charge of the company.
Steel, the most commonly used input in construction sector and industries, is at all-time highs, as most metals including base and precious metals prices have gone through the roof over the last one year.
Market participants seem to be taking solace from the government decision not to go for a full-scale lockdown, the impending extension of vaccination to all adults, and hopes of things normalising in a couple of months.
The benchmark Sensex — which gained 790 points, or 1.6 per cent, on Wednesday — has risen by1,855 points or 3.87 per cent in the last three trading sessions. The Sensex closed at 49,733, while the Nifty rose 212 points to 14,864.55 on Wednesday.
Sensex, Nifty today: The domestic indices came under pressure on account of sharp rise in Covid cases over the weekend and growing concerns over states considering a more stringent lockdown, unlike what was perceived earlier.