An Overview Finance Minister Nirmala Sitharaman said on Friday that India is committed to long-term relationships with US investors and that the two countries have set a goal of $500 billion in trade between them. Sitharaman was speaking to a group of prominent foreign investors including General Electric, Baxter Healthcare USA, Brambles, Marsh & McLennan …
A Brief Overview The 2nd wave of the Coronavirus pandemic wreaked havoc on the Indian economy which up until its onslaught, was beginning to witness an upturn. The re-imposition of lockdowns across the country, however, meant that all forms of commerce and economic activity reduced their pace of operations which adversely affected their returns as well …
On 28 June Monday, Nirmala Sitharaman announced a slew of new economic measures to revive an economy tattered by COVID-19. She presented a 7-point relief measure that included financial assistance for different sectors. 7 relief measures announced by the GOI 1. Loan guarantee scheme of Rs. 1.1 lakh crores for coronavirus-affected sectors Under this announcement …
The Reserve Bank of India regularly conducts Consumer Confidence Survey (CCS) and Inflation Expectations Survey of Households (IESH). On 27 June 2021, it released the July 2021 round of these surveys. What are CCS and IESH? CCS seeks qualitative feedback from respondents on their sentiments on households’ income and spending situation, price level, employment opportunities, …
The reports of Covid-19 resurgence in some Asian countries have worried investors, and as a result, Asian stocks slumped on several exchanges. Several Asian stock markets reported the stress is mounting as virus spread rises. Several countries in Asia have reported rising cases of Covid-19 infection, disrupting the market. In Japan, stocks slumped in the …
The Reserve Bank of India announced on Monday it would carry out the first purchase of government securities worth Rs. 20,000 crores on 8 July. It is a part of its G-Sec Acquisition Programme (G-SAP) to support a post-pandemic market, announced earlier this year. On 4 June, the RBI Governor Shri Shaktikanta Das announced regarding …
On 25 June, online medicine delivery start-up PharmEasy declared it would acquire a 66.1% stake in diagnostic chain Thyrocare Technologies Ltd. PharmEasy’s parent company, API Holdings Ltd., confirmed the “signing of definitive documents” for a deal worth Rs. 4,546 crores in an official statement on Friday. DocOn Technologies Pvt. Ltd., a subsidiary of PharmEasy’s parent …
Software giant Infosys has launched a Rs 9,200-crore worth share buyback plan on June 25, wherein the IT firm has planned to buy shares back at a price capped at Rs 1,750 per share. The approval for the buyback was given in April 2021, while the shareholders gave the go-ahead on June 19. The last …
The Petrol and Diesel prices in India are witnessing record-high levels amidst the economic slowdown caused by the pandemic. All the Indian cities currently are charging above Rs.90 per liter of petrol, wherein some like Bangalore, Bhopal, Hyderabad, Jaipur, and Mumbai have crossed the Rs.100 per liter mark. Diesel prices are also running above Rs.80 …
Zomato, the food delivery behemoth, filed for approval from the Competition Commission of India to acquire a 9.3% stake in Grofers, the grocery delivery company. The $120 million investment will come from Zomato and its investor Tiger Global, of which Zomato will contribute the lion’s share. Some key highlights Along with a 9.3% stake, Zomato …
