Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent. The move to relax dilution norms is seen as a precursor to Life Insurance Corporation's IPO. The central government has said companies with an m-cap exceeding Rs 1 trillion will have to dilute Rs 5,000 crore and at least 5 per cent of their m-cap. Experts said the earlier framework discouraged large companies from listing since they were forced to offload a large volume of shares during the time of their IPO.
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.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
'The government should put the whole road map together for the vaccine and decide how industry can support...' 'They should allow the private sector to vaccinate.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
M&M was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank. On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.
Sun Pharmaceuticals Industries Ltd has posted a 45.01 per cent rise in its consolidated net profit at Rs 358.9 crore (Rs 3.59 billion) for the financial year 2003-04 as against Rs 247.5 crore (Rs 2.47 billion) in 2002-03.
ICICI Bank was the top loser after the private lender reported sharp drop in Q4 net.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
"It is a matter of pride for us that India's vaccination programme has been science-born, science-driven and science-based," Modi said.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
So far, no other vaccine has been approved globally for children below 12 years. Sohini Das reports.
Jhunjhunwala holds a stake in more than 30 listed firms.
British nationals arriving in India, irrespective of their vaccination status, will have to undergo 10 days of mandatory quarantine from October 4 as part of the reciprocal actions initiated by the government following the vaccine certification row between the two countries.
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
The current crisis has forced the government to announce measures to ensure that India becomes self-sustaining for any kind of bulk drug. The government says India will not depend on any other country for vital key ingredients for drugs within six years, reports Sheela Bhatt.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Sun Pharma stock has appreciated at 35% a year for 20 years
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
At least two key drugs in the gliptin category have already gone off patent and cheaper variants are crowding the market. Also, several patent expiries are round the corner for the newest category of drugs - SGLT-2 inhibitors or gliflozins.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
TCS emerged as the biggest gainer among the top-10 firms
Sentiment also remained buoyant as a good monsoon season lifted hopes of a revival in farm output.
Sun Pharma expects synergy benefits by next fiscal.
After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 per cent, lower at 37,531.98. It hit an intra-day low of 37,480.53 and a high of 37,919.47.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
Initial data has shown immunity triggered by the two mRNA vaccines -- Pfizer-BioNTech and Moderna -- lasts for at least six months
Black Widows is a role-play of its Nordic counterpart with lame moments, unhappening twists and terrible performances, complains Moumita Bhattacharjee.
AstraZeneca Plc and the University of Oxford are facing questions about their Covid-19 vaccine and whether regulators would quickly authorise its emergency use after the pharma company acknowledged an error in the vaccine dosage received by some participants and other irregularities and omissions, according to the New York Times.
Currently, the country is using two 'made-in India' jabs -- Covishield and Covaxin -- to inoculate its billion-plus population and has administered 20 crore doses since launching the world's largest vaccination drive in mid-January. A third vaccine, Russian-made Sputnik V, has been approved by the government and is being used on a smaller scale at present.
SII has been asked to submit to the DCGI's office details of medication used in accordance with the protocol for management of adverse events.
The DCGI also directed Serum Institute of India to increase the safety monitoring of the subjects already vaccinated as part of the trial, and submit the plan and report.
A Chennai-based man has demanded a compensation of Rs 5 crore from the SII after his health worsened allegedly after volunteering for the clinical trials for a COVID-19 vaccine.
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 phased reopening and regulated relaxations of many key industries have paved the way for a slight recovery in hiring activities but hiring is still down by 47 per cent in July 2020 compared to the same month last year.
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