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Ami Organics Rs 569.63-crore IPO will open for subscription on 1 September 2021, at a price of Rs 603-610 per equity share of face value of Rs 10 each. So far this year, Ami Organics IPO is the 40th issue. Despite filing the preliminary papers with SEBI, the company could not float the IPO in 2018. This is the companys second attempt at a public issue. In the primary market, Ami Organics shares were seen quoting at a premium of Rs 67 over the IPO price. In the grey market on Friday, Ami Organics shares were trading at Rs 677, a premium of 11 per cent over the issue price, according to the people who deal in unlisted shares of the companies. Ami Organics will join the likes of Aarti Industries, Hikal Ltd, Valiant Organics, Vinati Organics, Neuland Organics and Atul Ltd, once it completes its IPO. Investors can make bids for a minimum of 24 equity shares and in multiples thereafter. This will translate to a minimum investment amount of Rs 14,640 per lot at the upper end of the price band. Up to half of the net offer will be reserved for Qualified Institutional Buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs). The price\/earnings ratio based on diluted EPS on a restated consolidated basis for FY 21 for the issuer at the upper end of the price band is as high as 35.59 as compared to the average industry peer group PE ratio of 48.91. The weighted average return on net worth for last year fiscals is 29.09 per cent. Ami Organics is one of the major manufacturers of Pharma Intermediates for certain key APIs, including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban. Along with the domestic market, Ami Organics supplies Pharma Intermediates used for manufacturing APIs and NCEs to various multi-national pharmaceutical companies which cater to the large and fast-growing markets of Europe, China, Japan, Israel, UK, Latin America and the USA. Ami Organics has continually invested in RD activities to stay ahead and create a differentiating factor and sustainability vis- Recently, Ami Organics has completed the acquisition of two additional manufacturing plants operated by Gujarat Organics Ltd (GOL) in line with its inorganic growth strategy of foraying further into the specialty chemicals sector. Specifically, subsequent to the acquisition, it has acquired the preservatives (parabens and parabens formulations which have end usage in cosmetics, animal food and personal care industries) and specialty chemicals business of GOL (with end usage in inter alia the cosmetics, dyes, and agrochemicals industries).
Eminent economist Jayanth R Varma on Thursday said the ongoing economic recovery will quickly take India above the pre-pandemic levels in most sectors of the economy, adding that the improved health of the Indian financial sector is also a positive factor for economic growth. Varma, who is also a member of the Monetary Policy Committee (MPC) of the Reserve Bank, in an interview to PTI said high and persistent inflation is a major constraint on monetary policy. I am quite positive about the ongoing economic recovery which will, I think, quickly take us above the pre-pandemic levels in most sectors of the economy except contact-intensive services, he said. Varma added that beyond that point, the challenge is to reverse the slowdown that began around 2018, and achieve sustained robust growth. Sustained growth in my view depends mainly on a revival of capital investment by the business sector and I am hopeful about that as well, he said, adding that the improved health of the Indian financial sector is also a positive factor for economic growth. The Indian economy grew by a record 20.1 per cent in the April-June quarter, helped by a very weak base of last year and a sharp rebound in the manufacturing and services sectors in spite of a devastating second wave of COVID-19. India is now on track to achieving the worlds fastest growth this year. On the prices front, he said that inflation was above 6 per cent in 2020-21, is likely to be above 5.5 per cent in 2021-22, and is projected to be above 5 per cent even in the first quarter of 2022-23. Elevated inflation for such a long period creates the risk that households and businesses will start expecting high inflation in future as well. Such an entrenchment of inflation expectations makes the task of monetary policy more difficult, Varma noted. According to him, it is usually much easier to nip high inflationary expectations in the bud than it is to change these expectations after they have become entrenched. One key factor that dampens inflation expectations is the credibility of the central bank. To maintain this credibility, the Monetary Policy Committee has to respond decisively to inflationary pressures as they begin to take root in the economy, he opined. Asked when private investment will pick up in India, Varma said capital investment will pick up when capacity utilization rises to a significantly higher level than what is observed at present. On the positive side, he noted that capacity utilisation is gradually improving in many industries. Recovery in domestic demand will be one factor driving an increase in capacity utilisation, Varma said, adding that another factor will be robust global growth that provides a market for Indian export. Noting that capital flows are a function of relative growth prospects and relative interest rates, he said if the global economy recovers and Indian economic growth also rebounds, the outflows would be muted. Similarly, whether rising interest rates in the United States lead to outflows depends on the trajectory of Indian interest rates as well, he said. Above all, Varma said large domestic pools of savings and capital can help offset any capital outflows. Large foreign currency reserves also provide a modest degree of protection, he said. On the disconnect between the real economy and the stock market, Varma said the stock market is forward looking and is more interested in future growth prospects than in the current level of growth. An expectation of a quick growth rebound after the second wave is clearly one factor driving the boom, he said. Second, abundant liquidity (both domestic and global) also leads to a rise in the prices of stocks, real estate and other assets, the eminent economist said, adding that this is the phenomenon of asset price inflation that is a matter of concern to all central banks while deciding on monetary policy. According to Varma, the emergence of new sunrise industries mainly in the technology and related sectors that have not been impacted by the slowdown in the rest of the economy. This is visible in the high valuation accorded to several Indian startups this year. Finally, of course, many observers worry that some of the boom is driven by irrational investors, he said. The Reserve Bank of India (RBI) has lowered the countrys growth projection for the current financial year to 9.5 per cent from 10.5 per cent estimated earlier, while the World Bank has projected Indias economy to grow at 8.3 per cent in 2021.
The Union Ayush Ministry has introduced a mobile app that will help working professional de-stress and realign their focus at the workplace, increasing their productivity. The app Union Ayush Minister Sarbanand Sonowal, speaking on yoga and its benefits during the launch, said the nature of their occupation often left corporate professionals stressed and also cause physical problems. The app Union Minister of Law and Justice Kiren Rijiju, Minister of State Science and Technology and Earth Science Jitendra Singh, Minister of State for External Affairs and Culture Meenakshi Lekhi, and Minister of State for Ayush and Women and Child Development Munjpara Mahendrabhai Kalubhai were also in attendance. Sonowal added that yoga has worldwide popularity. People everywhere practise yoga for both health and spiritual purposes. The philosophy behind yoga has influenced various aspects of Indian society Singh appreciated using technology to promote yoga and urged Rijiju to enact a law that would allow people five minutes for yoga at the workplace. Rijiju, on the other hand, hailed the ministry Delhi MP Lekhi said the app could be a big contributor in reducing stress. The app The Union Ayush Ministry has been allocated time between August 30 and September 5 to promote its various activities, such as the app, organising school camps for Ayush systems, and distribution of medicinal plants for the public and farmers. Kalubhai said a lot of research had gone into the app. Robust trials had tested its deliverables, while its impact on human cells has also been talked about. The app The ministry had launched the module as a pilot project in January 2020 in six major metros. The Morarji Desai National Institute of Yoga, in collaboration with the country
James Andersons artistic morning spell in an inspired English bowling performance blew away India for an inexplicable 78 as the hosts took complete control by stumps with a dominant batting show on the first day of the third Test here on Wednesday. If England pacers got their bearings right after the fifth day brain fade at the Lords, Indias famous batting units technique against swing bowling was laid bare by Anderson and his band which skittled them in little over 40 overs. Then it was turn for local boy Haseeb Hameed (60 batting, 130 balls) and Rory Burns (52 batting, 125 balls) to get back to form ending the day at 120 for no loss with batting getting much easier as the day progressed. They now lead by 42 runs. Skipper Virat Kohli won a rare toss and despite the overcast conditions decided to bat first which in the end turned out to be a not so great decision as Andersons injured new ball partner Stuart Broad tweeted about how the Headingley track has behaved over the years. Anderson ((8-5-6-3) then did what he does best – messed with the minds of the top-order batsmen in a sharp eight-over morning spell getting three wickets and then passing on the baton to the younger lot which didnt disappoint him. Craig Overton (3\/14 in 10.3 overs), Ollie Robinson (2\/16 in 10 overs) and Sam Curran (2\/27 in 10 overs) then tightened the noose with even Rohit Sharma (19 off 105 balls) finding it difficult to get a move on even after playing 100 balls. Ajinkya Rahane scored 18 but had it not been for 16 extra runs, the embarrassment would have been more like the Adelaide Test match It was a shoddy performance as the pitch although termed tacky by England skipper Joe Root didnt have any exaggerated off-the pitch movement that could have troubled the batsmen. It was just that Anderson turned his stock ball (outswinger) into a shock ball during that dream spell which left Indians gasping for breath. Having seen an in-form KL Rahul (0) leave the outswingers alone, Anderson started with inswingers before unleashing one with a wobbly seam with a hint of outward movement as the opener went for a drive and became one of the five catches that Jos Buttler took. Cheteshwar Pujara (1) is plain and simple out of form and clueless about his off-stump as a classic outswinger found his edge. Then Anderson did what has been his day job for past seven years. Dismiss Indian skipper Kohli (7) for fun. The Indian skipper had tweaked his front-foot movement a bit as it didnt go across off-stump. However the eagerness to over-compensate as Sachin Tendulkar recently pointed out made him jab at the ball to make it 21 for 3. Rohit did display impeccable defence but once Rahane was out at the stroke of lunch with Robinson getting one to rear up awkwardly and Rishabh Pant playing away from his body without any feet movement, he didnt have resources to accelerate. But credit should also go to the English bowlers who extracted every bit of juice that was available during the 40.4 overs. India lost their last six wickets for 22 runs and this time, the Indian tail had no pleasant surprises in their kitty. This had more to do with sensible bowling from England pacers, who bowled fuller length to bowl out India for their second lowest first day score in last 34 years. The lowest first day score for India was back in 1987 when fiery Jamaican Patrick Patterson scared the hell out of Dilip Vengsarkars team, skittling them out for 75 at the Feroz Shah Kotla in New Delhi. The batting performance certainly increased pressure on the bowlers and it didnt help that veteran Ishant Sharma looked completely out of sorts as Kohli gave him the new ball. He ran in gingerly and there was no sting in his bowling helping Hameed and Burns to settle down quickly. Once the sun started beating down and made batting easier, they played some lovely shots square off the wicket, helping themselves with half-centuries as India will have a huge task of saving the Test match from hereon.
Capital markets regulator Sebi on Friday tweaked the framework on investor grievance redressal mechanism after receiving representation from stock exchanges. The regulator has modified framework pertaining to speeding up grievance redressal mechanism and threshold limit for interim relief paid out of investor protection fund (IPF) of the stock exchange among others. With regard to place of arbitration or appellate arbitration in case award amount is more than Rs 50 lakh, Sebi said the next level of proceedings may take place at the nearest metro city, if desired by any of the party involved. The additional statutory cost for arbitration, if any, will be borne by party desirous of shifting the place of arbitration, the Securities and Exchange Board of India (Sebi) said in a circular. In all cases except the additional fees charged from the trading members, if the claim is filed beyond the prescribed timeline (only for member) on issue of the arbitral award then the stock exchange will refund the deposit to the party in whose favour the award has been passed. The additional fees charged from the trading members, if the claim is filed beyond the timeline prescribed, will be deposited in the IPF of the respective stock exchange. The stock exchanges will have to ensure that once a member has been declared defaulter, the claim will be placed before the Member Core Settlement Guarantee Fund Committee (MCSGFC, the erstwhile defaulters committee) for sanction and ratification. The committees advice with respect to legitimate claims will be sent to the IPF trust for disbursement of the amount immediately. In case the claim amount is more than the coverage limit under IPF or the amount sanctioned and ratified by the MCSGFC is less than the claim amount then the investor will be at liberty to prefer for arbitration outside the exchange mechanism \/ any other legal forum outside the exchange mechanism for claim of the balance amount, Sebi said. In case, order is in favour of client and the member opts for arbitration wherein the claim value admissible to the client is not more than Rs 20 lakh, Sebi has prescribed steps that should be undertaken by the stock exchange under certain scenario. In case the grievance redressal committees order is in favour of the client then 50 per cent of the admissible claim value or Rs 2 lakh, whichever is less, should be released to the client from IPF of the stock exchange. In case the arbitration award is in favour of the client and the member opts for appellate arbitration then a positive difference of, 50 per cent of the amount mentioned in the arbitration award or Rs 3 lakh whichever is less, and the amount already released to the client as mentioned above, will be released to the client from IPF of the exchange. In case the appellate arbitration award is in favour of the client and the member opts for making an application under Arbitration and Conciliation Act, to set aside the appellate arbitration award, then , 75 per cent of the amount mentioned in the appellate arbitration award or Rs 5 lakh, whichever is less and the amount already released to the client under the above mentioned two clauses will be released to the client. Total amount released to the client through the facility of interim relief from IPF should not exceed Rs 10 lakh in a financial year, Sebi said.
The COVID-19 pandemic has fundamentally altered the way homebuyers think of their dwellings. Consumer behavior has changed significantly, leading to a structural shift in the manner they look at how to live and where to live, including their sentiment towards home ownership. Cocooned in the comfort of their homes during the rigorous lockdown has led many to re-evaluate their priorities and cherish the sense of security that comes with owning a home. In view of this, Knight Frank has come out with its Global Buyer Survey, which analyses the impact that Covid-19 has had on residential buyers As per the report, 19% of people globally have moved to a new house since the start of the pandemic; this rises to 25% in Australasia and North America. Of the non-movers, 20% are more inclined to move in 2021 even as the pandemic continues. In the Indian edition of the survey, 26% of Mainstream Indians had moved their residences within the pandemic period. These relocations were motivated by factors like want of more open space and proximity to friends and family. For Indian Mainstream non-movers, 32% were more inclined to move residences in the next 12 months. An overwhelming 87% of the respondents who desire to move homes in the next 12 months, favoured the suburban neighbourhood of their current city of residence, while 13% of respondents who want to relocate, may consider an alternate city. WILLINGNESS TO RELOCATE IN THE NEXT 12 MONTHS AS A RESULT OF THE PANDEMIC Globally, 64% of the respondents expect the value of their primary residence to increase in the next 12 months. In case of the Global Indian segment, which represents the higher income segment, 32% expect prices to rise. Reflecting a more optimistic outlook, 61% respondents in the Mainstream Indian segment expect prices of their primary residences to rise in the next 12 months. 32% of the respondents from the Mainstream Indian segment expressed willingness to move into a new home in the next 12 months as a result of the pandemic, whereas 14% from the Global Indian segment indicated a desire for relocation. In a price-sensitive environment, more than 50% across all income segments in India cited lack of willingness to pay a premium for branded residences. Marking a significant citation, 32% of the Global Indian segment expressed willingness to pay a premium for a greener home. The report emphasizes that future of work will play a significant part not only for the commercial sector but also for the residential. More than half of the respondents in the Mainstream Indian segment expect to be back in office for the entire work week once all restrictions are lifted. 47% of the Global Indian segment respondents expect to continue working for 2-4 days in a week from office once all restrictions are lifted. In the Mainstream Indian Segment, the highest inclination towards 5 days of work from office was shown by professionals i.e. lawyers, architects, doctors, chartered accountants etc. In case of the salaried class segment, the preference for work from office ranged from 3 to 5 days. This is largely due to the impact of tech firm employees working from home. Globally, 59% of respondents envisage working 3-5 days in a week from office once all restrictions are lifted. In the Middle East and Asia, the figure is 41% and 36%, respectively. Commenting on the same, Shishir Baijal, Chairman Managing Director, Knight Frank India, said, Globally, two trends have stood out in the last few months. Firstly, a growing ambivalence of some buyers when it comes to location, provided they can secure a co-primary home that delivers the lifestyle and enjoyment they feel they And, secondly, given low savings rates and frothy stock markets, buyers are taking a more defensive stance by rebalancing their portfolios with a greater focus on tangible assets such as property. Our Buyer Survey confirms that across the spectrum of Indian homebuyers, 32% showed interest in relocating from their pre-pandemic homes. It is observed that apart from the spending propensity and house type that typically govern an Indian home buyer Energy efficient homes are also gaining traction as the concept is finding preference amongst home buyers in India. This coincides with Knight Frank From India Nearly 58% respondents in Mumbai and Kolkata expected up to 10% increase in residential prices, while 53% in Pune also have a similar expectation. More than 60% respondents in Southern cities expect up to 20% price increase in next 12 months. Around 19% respondents in Bengaluru and 18% in Chennai expected prices to increase 20% or more in the next 12 months. From the global aspect, since the advent of the pandemic, as many as 19% of respondents relocated to a new house. The Global Indian segment, however, remained cautious of relocating during the pandemic, with only 7% having moved to a new house in the past 12 months. In contrast, nearly 26% of respondents in the Mainstream Indian Segment made the move to relocate in the same period. Sharing details on the spending propensity to buy a new home, the report cited that 38% respondents from the Mainstream Indian segment indicated an increase in budgetary allocation towards residential purchase. More than half of the Global Indian segment respondents indicated no change. The attitudes of the Mainstream Indian segment buyers in South India are fairly optimistic when it comes to spending propensity for buying new homes. 63% in Chennai, 54% in Hyderabad and 39% in Bengaluru have indicated an increase in spending propensity.
The Supreme Court Tuesday directed DoT not to invoke the bank guarantees (BGs) of Bharti Airtel for three weeks for recovering Rs 1,376 crore in AGR-related dues of Videocon Telecom Ltd (VTL) which had sold its spectrum to the Bharti group. The top court, which refused to entertain Airtels plea that VTL dues are not payable by it, permitted the telecom major to approach the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) with the grievances. The DoT shall not invoke the bank guarantee of Respondent.(Bharti Airtel) for the period of three weeks from today, a bench comprising justices L Nageswara Rao, S Abdul Nazeer and M R Shah said in its order. At the outset, the bench made clear to senior advocate Shyam Divan, appearing for Airtel, that it will not interfere with the earlier judgement. We are making it very clear that we will not interfere with the judgement and we will give you the liberty to withdraw to approach the appropriate forum, the bench said. It also noted the submissions of Solicitor General Tushar Mehta, appearing for the Department of Telecom, that DoT will be permitted to raise all the grounds including the objection to the jurisdiction, if any, before the forum to be chosen Airtel. Airtel said a DoT communication of August 17 has directed it to pay AGR related dues of VTL within a week, failing which the BGs. Divan referred to various documents including the spectrum trading guidelines and said that the dues – arising from the Adjusted Gross Revenue or AGR of VTL, the seller of the spectrum – were known at the time of the sale and hence the seller and not the buyer can be fastened with the liability to pay. VTL had sold its spectrum to Bharti Airtel in pursuance of agreements entered into them in 2016. The Bharti group has already paid Rs 18,004 crore in AGR-related dues to DoT by March 31, 2021 which is much more than 10 per cent of its total AGR dues of over Rs 43,000 crore, he said. In its September last year order, the apex court had said that telecom operators shall make the payment of 10 per cent of the total dues as demanded by the DoT by March 31, 2021 and the rest be paid in yearly instalments from April 1, 2021 to March 31, 2031. Divan argued that Airtel should not be proceeded against without being granted a reasonable opportunity to raise the grievances before an appropriate forum. The bench then suggested the DoT saying: We will permit him to withdraw and go before the TDSAT and hold your hand for two-three weeks. The top court on July 23 had dismissed the applications filed by telecom majors, including Vodafone Idea and Bharti Airtel, seeking rectification of the alleged errors in calculation of AGR related dues payable by them. All the miscellaneous applications are dismissed, the bench headed by Justice L Nageswara Rao said while pronouncing the order. The telecom companies had submitted before the apex court that arithmetical errors in the calculation be rectified and there are cases of duplication of entries. The top court in September last year had given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR related dues to clear their outstanding amount to the government. The top court, which had held that demand raised by the DoT in respect of AGR dues will be final, had said there shall be no dispute raised by the telcos and there shall not be any re-assessment. The apex court had in October 2019 delivered its verdict on the AGR issue. The DoT in March last year had moved a plea in the top court seeking permission for allowing staggered payment of the dues by telcos over a period of 20 years.
Karnataka Health Minister K Sudhakar on Monday said the government is aiming to make Bengaluru the first metro city in India to completely vaccinate all its eligible residents against COVID-19. The aim is to fully vaccinate the entire eligible population by the end of December, the minister said. The government has set a target of vaccinating five lakh people everyday and on Wednesday, a special vaccination drive will be carried out to vaccinate 10 lakh people. Sudhakar said the Centre has provided 1.10 crore vaccines in August. The supply has increased after Chief Minister Basavaraj Bommai and he had a discussion with the centre, the minister said. We are aiming to make Bengaluru the first metro city to complete vaccination for all its eligible residents, Sudhakar said. We want to vaccinate five lakh people everyday from now onwards. On Wednesday during special vaccination drive the target is to vaccinate at least 10 lakh people. This will ensure 1.5 to two crore doses in one month, he said. Sudhakar said that four crore vaccinations have been completed in the state including one crore in the Bengaluru municipal limits. Measures will be initiated to increase the number in Bidar, Yadgir, Raichur and Kalaburagi districts, the minister said, adding that special drive will be conducted for slum dwellers everyday which will enable staff to conduct the drive at every slum. Priority will be given to border districts of Uttara Kannada, Dakshina Kannada and Udupi districts. Sudhakar indicated that the government is inclined to reopen classes for standard six to eight, which have not yet started for over one-and-half years since the COVID-19 outbreak. The government is going to take a decision that will decide the future. No major side effects have taken place due to our decision after the opening of schools and colleges starting from ninth standard. We will take a decision on opening schools for classes from six to eight, Sudhakar told reporters after a meeting. He added that his department has recommended some strong decision with regard to the academic field. The Minister appealed for cooperation from public in the fight against COVID-19. We should have a futuristic view. Third wave should not affect us, people should not die. We have made all kinds of arrangements for public health but prevention is important, Sudhakar said. According to the minister, the government has take strong measures at the Airport where people coming from abroad will have to compulsorily undergo COVID tests. Regarding public anger against restrictions during the Ganesha festival, Sudhakar said the government is not happy by imposing restrictions. We want religious festivals to happen and religious harmony is maintained but at the same time, steps to contain spread of the disease are equally important. The government takes a decision based on the situation, the minister said.
The Reserve Bank of India (RBI) on Saturday announced the launch of the next round of households surveys to capture inflation expectations and consumer confidence, which provide useful inputs for its monetary policy. The central bank has been regularly conducting these surveys. Announcing the launch of September 2021 round of Inflation Expectations Survey of Households (IESH), the RBI said the survey aims at capturing subjective assessments on price movements and inflation, of about 6,000 households, based on their individual consumption baskets, across 18 cities. The cities include Ahmedabad, Bengaluru, Chandigarh, Patna, Raipur, Ranchi and Thiruvananthapuram. The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates, it said. The September 2021 round of the Consumer Confidence Survey (CCS) seeks qualitative responses from households regarding their sentiments on general economic situation, employment scenario, price level, and households income and spending. The survey is conducted regularly in 13 cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram. It covers about 5,400 respondents across the 13 cities. The results of both the surveys provide useful inputs for monetary policy, the RBI said. The next meeting of the rate-setting panel, Monetary Policy Committee, is scheduled during October 6 to 8, 2021.
Indias power consumption grew 18.6 per cent in August to 129.51 billion units (BU) and remained higher than the pre-COVID level due to improved economic activities amid easing of lockdown curbs by states, according to power ministry data. The countrys power consumption in August last year stood at 109.21 BU, lower than 111.52 BU in the same month in 2019, as per the data. Experts say the recovery in power demand and consumption in August 2021 is consistent and robust. They are of the view that the recovery would further improve as many states have eased lockdown restrictions to boost economic activities after the number of new cases declined. The only fear is that another wave of the pandemic can dampen this recovery in power consumption and demand, they said. The commercial and industrial power demand and consumption got affected from April onwards this year due to lockdown restrictions imposed by states to contain the deadly second wave of COVID-19. There are fears of another wave of the pandemic which may result in lockdown restrictions and will impact commercial and industrial demand for power in the country, according to experts. Peak power demand met or the highest supply in a day stood at 196.24 GW in August, which is 17.1 per cent higher compared to a year ago. The peak power demand in August 2020 stood at 167.52 GW, lower than 177.52 GW in the same month in 2019, showing the adverse impact of the pandemic on power demand. The government had imposed a nationwide lockdown on March 25, 2020 to contain the spread of coronavirus. The lockdown was eased in a phased manner, but it hit the economic and commercial activities and resulted in lower commercial and industrial demand for electricity in the country. April 2021 saw year-on-year growth of nearly 38.5 per cent in power consumption. The second wave of COVID-19 started in the middle of April this year and affected the recovery in commercial and industrial power demand as states started imposing restrictions in the latter part of the month. Power consumption in the country witnessed 6.6 per cent year-on-year growth in May this year at 108.80 BU despite a low base of 102.08 BU in the same month of 2020. As per the latest data, power consumption in June grew nearly 9 per cent to 114.48 BU, compared to 105.08 BU in the same month last year. Power consumption in July this year grew nearly 9.4 per cent to 123.72 BU compared to 112.14BU in the same month a year ago. Power consumption in February this year was recorded at 103.25 BU, compared to 103.81 BU a year ago. In March this year, power consumption grew nearly 22 per cent to 120.63 BU, compared to 98.95 BU in the same month of 2020. After a gap of six months, power consumption had recorded 4.6 per cent year-on-year growth in September 2020, and 11.6 per cent in October 2020. In November, power consumption growth slowed to 3.12 per cent, mainly due to early onset of winters. In December, it grew 4.5 per cent, while this was 4.4 per cent higher in January 2021.