A large number of American companies like Google, Uber and IBM are offering their resources to help India successfully fight the battle against the deadly coronavirus pandemic.
'The recent correction in indices has made the markets cheaper to invest for the long term.'
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
'The markets have corrected almost 8-9 per cent from their highs, so one can accumulate quality stocks at reasonable prices.'
Lashing out at the micro-blogging platform over non-compliance, Prasad said that it is "astounding" that Twitter that portrays itself as the flag bearer of free speech, chooses the path of deliberate defiance when it comes to the intermediary guidelines.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
Was led by sectors like software services, BPO and pharma.
In a virtual conference from Moscow, Dmitriev said Sputnik V is not only 'one of the most effective' but also among the 'affordable' vaccines in the world.
US country head, key departmental heads leave; more likely to follow.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
US-based Purdue Pharma has filed a patent infringement suit against India's largest drug company, Ranbaxy, after the latter's wholly-owned US subsidiary, Ranbaxy Pharmaceuticals Inc, applied for marketing approval of a low-cost version of Purdue's pain relieving medicine, Oxycodone.
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
Drugs under exemption make up roughly 95 per cent of the antiretrovirals used by India's AIDS patients
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
Even as rising crude oil prices, trade war fears and a sliding rupee cast a shadow on market sentiment, Nischal Maheshwari, chief executive officer for institutional equities and advisory at Centrum Broking, tells Puneet Wadhwa that in the next one year, the outcome of the 2019 general election is a bigger challenge for the market.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
IT minister Ravi Shankar Prasad on Wednesday slammed Twitter for deliberate defiance and failure to comply with the country's new IT rules, which has led to the United States giant losing its intermediary status in India and becoming liable for users posting any unlawful content.
Nicholas Piramal India Ltd said on Thursday its UK subsidiary has entered into an agreement to acquire the manufacturing facility of global pharma company Pfizer Inc at Morpeth, UK, on an asset purchase basis.
Going by the current pace, IT firms are likely to exceed the manufacturing sector in salary payouts over the next five years.
In a nearly 25-minute televised address to the nation, Modi said implementation of the lockdown will be strictly ensured in its second phase and detailed guidelines will be brought out on Wednesday to ensure that outbreak does not spread to new areas.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Market cap of government companies has remained unchanged in the past 8 years.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
Brokerages expect Nifty50 firms to post 11.8% growth in net profit in Q1 but sales may decline
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
ICICI Bank was the top Sensex gainer after S&P Global Ratings affirmed its 'BBB-' long-term issue ratings on the senior unsecured bonds.
Profits grow, but not because of recovering demand.
The health ministry on Saturday recommended the use of antiviral drug remdesivir in moderate stage of COVID-19 while backtracking from its earlier stance on hydroxychloroquine, saying the anti-malarial drug should be used in the early course of the disease and not on critically ill patients.
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
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