Overseas funds have poured $7.2 billion into India’s equities this year. IPO market is on a tear, thanks to startups, & India looks set to attract investors scared off by China’s crackdown.
The firm, founded by Thakkar Dharamik, has a very engaging social media handle, with more than 2,77,000 followers on Instagram, and has trained more than 6,000 students.
Rallying for second consecutive day, the 30-share BSE index was trading with a gain of 429.33 points or 0.80 % Tuesday. The benchmark index also hit its lifetime peak of 53,402.03.
Traders fear latest crackdown on China's education, food delivery & property sectors could expand to other industries, as it looks to tighten grip on Big Tech and reduce wealth gap.
Of 50 stocks in Nifty 50, 11 are of firms in financial services, 6 in auto, 5 in IT services, 4 in pharma. Manufacturing has poor representation outside auto. Few conglomerate business houses remain.
A rising global appetite for specialty chemicals in automobiles and cosmetics amid pandemic recovery has made chemical industry in India an important player in global supply chain.
The surprisingly muted stock market reaction to India’s virus disaster can also be seen in net outflows of foreign investors — $1.5 bn in April versus $8.4 bn last March.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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