FSDC meeting on Sep 3; to take stock of economy, financial sector

2021年10月26日 SHLF 0 Comments

Finance Minister Nirmala Sitharaman has called a meeting of the Financial Stability and Development Council (FSDC) on September 3 to discuss the state of the financial sector and a strategy to support the nascent recovery of the pandemic-hit economy. This would be the 24th meeting of the FSDC and the first during the current financial year. The last meeting was held on December 15, 2020. The meeting is to be held soon after first-quarter GDP numbers projected around 20 per cent growth against a contraction of 24.4 per cent recorded in the same quarter of the last financial year. Nascent recovery is seen in some of the macroeconomic indicators including improvement in tax mobilisation, credit growth, manufacturing uptick in certain sectors and pick up in exports. The FSDC meeting will be held via video conferencing on Friday, sources said. Sources also said that the finance minister may ask financial sector regulators to relax and harmonise investment norms for instruments like infrastructure investment trusts (InvITs) to be used to monetise public assets like highways, power and railway tracks. Earlier this month, Sitharaman announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways. Union Budget 2021-22 had identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for the preparation of a National Monetisation Pipeline of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP. The aggregate asset pipeline under NMP over the four-year period is indicatively valued at Rs 6 lakh crore. The estimated value corresponds to 14 per cent of the proposed outlay for the Centre under the National Infrastructure Pipeline (Rs 43 lakh crore). Senior officials from the finance ministry will also attend the meeting. The FSDC is expected to review various aspects associated with the stimulus packages announced by the government to tide over the economic crisis induced by the pandemic. The Reserve Bank of India Governor, and the heads of the Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, and International Financial Services Centres Authority are also members of the FSDC.

Market borrowings by states dip 12% on year on GST aid, spending curbs

2021年10月26日 SHLF 0 Comments

By Manish M Suvarna The quantum of funds raised by the states through state development loans (SDL) so far in the current financial year The SDL issuance also saw a 12% decline on year during the period. As many as 23 states and one Union Territory have raised Rs 2.38 lakh crore in the above period via SDL, as against Rs 2.80 lakh crore shown in the calendar. In FY22, states like Karnataka, Himachal Pradesh, Jharkhand, Odisha, and Tripura have not yet tapped the market to raise funds. Telangana, Andhra Pradesh, Jammu Kashmir, Tamil Nadu, Haryana, Rajasthan, Manipur, and Nagaland raised more than the indicative calendar. The ongoing second wave and rising Covid cases in some states have resulted in localised lockdowns which affected the revenues of states. This has resulted in curtailing state governments non-essential or developmental expenditure. The release of GST compensation by the central government has come as a relief, which also allowed states to prune their borrowing through SDLs and ways and means advances (WMA). On July 15, the central government had given Rs 75,000 crore to states to make up for the shortfall in their revenues of the GST implementation. The reason for the fall in borrowings is that most states are actively borrowing funds via WMA and special drawing facility, said Ajay Manglunia, Managing Director Head Institutional Fixed Income at JM Financial. Since the start of this financial year, many states have preferred to meet their revenue shortfalls by tapping into the financial accommodation being provided by the Reserve Bank of India such as the short-term borrowing through SDF (special drawing facility) and WMA in place of long-term borrowings through the issue of SDLs, CARE ratings report said. In July, the WMA borrowings by states has moderated after the release of GST compensation, easing of the lockdowns and resumption of business activity across states that could have led to improved revenue inflows. Soon after that in the first two weeks of August, it increased again said market participants. WMA are short-term loan facilities provided by the central bank to the centre and state governments to borrow funds for filling the temporary mismatch between expenditure and receipts. Market participants said that the borrowing by states was also lower because the demand from the investors was less in the market that is resulting in rising yields on government securities. The borrowing costs for states have gone below 7% for SDLs maturing in 10-year due to lower borrowings by the states. The lower amount offered by the states cooled off borrowing cost a little bit. At a time it was higher than 7% and now it is lower than 7%, Manglunia said. Currently, the weighted average cost of borrowings across states and tenures were at 6.89%, a 5 basis point higher than a week ago. The increase in borrowing cost was due to rising yields on G-Sec as the market is concerned over the normalisation of monetary policy by the RBI and worries over the paring down of bond purchases by the US Federal Reserves, which could prompt an outflow of funds from the Indian markets. Dealers with state-owned banks expect that the lower borrowing will be raised in the second half by the states.

Chemplast Sanmar shares list at loss, debut at discount to IPO price; open at Rs 525

2021年10月19日 SHLF 0 Comments

Chemplast Sanmar shares made a weak debut on stock exchanges on Tuesday, 24 August 2021, even as BSE Sensex and Nifty 50 were firm. Chemplast Sanmar shares began trading at Rs 525 apiece on BSE today, down nearly 3 per cent from the upper end of the IPO price band of Rs 541 per share. Following this Chemplast Sanmar becomes the third recent listing to trade at discount on listing day, after CarTrade Tech and Nuvoco Vistas. While, it got listed at a premium on NSE, at Rs 550 apiece, up 1.66 per cent over the issue price. Chemplast Sanmar IPO was open during August 10-12. Chemplast Sanmar shares have relisted on the stock market after being delisted from the exchanges nearly a decade ago in 2012. The Rs 3,850-crore IPO was subscribed 2.17 times. At listing, Chemplast Sanmar had a market capitalisation of Rs 8,300.75 crore. Also read: Aptus Value Housing makes weak stock market listing; stock opens at discount to IPO price Upon successful listing, Chemplast Sanmar has joined the likes of PI Industries, SRF, Finolex Industries and Navin Fluorine International. Chemplast Sanmar is a specialty chemicals manufacturer in India with focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. The total production of specialty paste PVC resin in India in the financial year 2020 stood at 78 KTPA against a demand of 143 KTPA. In India, Grasim Industries Ltd. (including Aditya Birla Chemicals), DCM Shriram Limited (DCM Shriram), Gujarat Alkalies and Chemicals Ltd.(GACL), and Reliance Industries Limited (RIL) have a combined capacity of more than 2800 KTPA. Chemplast Sanmar was delisted from BSE, NSE and MSE with effect from June 25, 2012, June 18, 2012, and June 25, 2012, respectively. Post-IPO, the promoter group shareholding in Chemplast Sanmar has dropped to 55 per cent from the 100 per cent while the public shareholding increased to 45 per cent. Analysts say that having a strong market position in specialty chemicals, the company is well-positioned to capture favourable industry dynamics. Also, industry in which the company enjoys leadership position has high barriers to entry.

Sebi asks AMCs to invest in schemes based on risk; quantify minimum amount to be invested

2021年10月19日 SHLF 0 Comments

Markets regulator Sebi on Friday asked asset management companies (AMCs) to invest in the range of 0.03 to 0.13 percentage of the asset base in their own schemes in a bid to align the interest of the fund houses with investors. The percentage that needs to be invested depends on the risk level of the scheme, which has been categorized into low, low to moderate, moderate, moderately high, high and very high. The new framework is aimed at aligning the interest of asset management companies (AMCs) with the unitholders of the mutual fund schemes. The regulator on August 5 amended mutual fund rules, requiring fund houses to invest in their own schemes depending on the risk level to ensure skin in the game. The new rules will come into force on the 270th day from the date of notification. Accordingly, it was decided that based on the risk value assigned to the scheme, AMCs will invest minimum amount as a percentage of assets under management (AUM) in their schemes. However, the regulator did not quantify the minimum amount that needs to be invested by the fund houses that time. In a circular on Friday, Sebi said in case of scheme which comes under the low risk category, an AMC will have to invest a minimum of 0.03 percentage of the AUM in the scheme, while those under low to moderate category, 0.05 percentage of the asset base needs to be invested. Further, in case of scheme which has been assigned moderate risk, 0.07 percentage of the AUM needs to be invested in the scheme, while the same for moderately high will be 0.09 percentage, 0.11 percentage for high and 0.13 percentage of the asset base for very high risk. The risk value of the scheme as per the risk-o-meter of the immediate preceding month will be considered. The investment will have to be maintained at all points of time till the completion of tenure of the scheme or till the scheme is wound up. AMCs shall, except in case of close ended scheme(s), conduct a quarterly review to ensure compliance with the requirement of investment of minimum amount in the scheme(s) which may change either due to change in value of the AUM or in the risk value assigned to the scheme, Sebi said. Further, based on review of quarterly average AUM, shortfall in value of the investment in schemes, if any, need to be made good within 7 days of such review. The regulator said that AMCs will have the option to withdraw any excess investment than what is required pursuant to such review. AMCs may invest from their net worth or the sponsor may fund the AMC to fulfil the obligations, if required. However, the AMCs will be required to make good the shortfall in the minimum networth to comply with the requirement of the MF Regulations in case of sustenance of temporary mark to market loss for two consecutive quarters, Sebi said. It, further, said that AMCs will have to ensure that such temporariness of the mark to market loss is certified by the statutory auditor. AMCs will not be required to invest in ETFs, Index Funds, Overnight Funds, Funds of Funds schemes and in case of close ended funds wherein the subscription period has closed as on date of coming into force of amended MF rules. The mandatory contribution already made by the AMCs in compliance with the applicable MF rules will not be withdrawn. However, such contribution can be adjusted against the investment required by the AMC. The compliance of the provisions of this circular will be ensured by the AMCs and monitored by the trustees. Any non-compliance in this regard, will be reported in the quarterly compliance test report and half-yearly trustee report. Details of investment by AMCs in each of their mutual fund schemes will have to be disclosed on the website of AMCs and industry body AMFI.

WPP acquires AI technology company Satalia

2021年10月12日 SHLF 0 Comments

WPP has announced that it has acquired Satalia, a technology company offering artificial intelligence (AI) solutions for clients. The acquisition is aligned with WPP Satalia is a name in enterprise AI whose clients include BT, DFS, DS Smith, PwC, Gigaclear, Tesco and Unilever. Combining machine learning and optimisation, it builds technologies that help clients transform their business strategies and radically improve operational efficiency. The company was founded by CEO Daniel Hulme in 2008 who has over 20 years of experience in AI, having received his Masters and PhD in AI from UCL where he is currently Entrepreneur in Residence. He is also a lecturer for LSE Satalia will join Wunderman Thompson Commerce and strengthen the global ecommerce consultancy It will also act as a hub of AI expertise for all WPP agencies. In addition to his role as CEO of Satalia, Satalia will become chief AI officer of WPP, working closely with WPP Clients are looking for end-to-end solutions that harness these technologies to grow their business. I Read Also: Parle Agro signs Varun Dhawan for its dairy offering Smoodh Follow us onTwitter,Instagram,LinkedIn,Facebook

NTAGI to soon chalk out roadmap to introduce Zydus Cadila’s vaccine in Covid inoculation drive

2021年10月12日 SHLF 0 Comments

The National Technical Advisory Group on Immunisation (NTAGI) will soon hold a meeting to devise a roadmap for introducing Zydus Cadilas Covid vaccine in the inoculation drive and prioritising beneficiaries focusing on those aged 12-18 years with comorbidities. The indigenously developed worlds first DNA-based needle-free COVID-19 vaccine ZyCoV-D received Emergency Use Authorisation from the drug regulator on August 20 making it the first vaccine to be administered in the age group of 12-18 years in the country. NTAGI Chairman Dr N K Arora said it is estimated that there are around 12 crore adolescents in the age group of 12-18 years in India and less than 1 per cent of them may have comorbidities. The NTAGIs meeting will be held soon to chalk out a roadmap for introducing the three-dose ZyCoV-D vaccine in the ongoing COVID-19 vaccination drive. The meeting will also focus on prioritisation of beneficiaries as this vaccine is approved for both adolescents and adults, he said. The aim is to develop a priority list with the focus being on adolescents aged 12-18 years with comorbidities, Dr Arora said. The NTAGI will provide the protocol and framework for the introduction of this vaccine in the COVID-19 immunisation drive. Covishield, Covaxin and Sputnik V vaccines are being given to only those above 18 years and unlike ZyCoV-D, which is three-dose, these are administered in two doses. The Department of Biotechnology (DBT) has said that ZyCoV-D is the worlds first DNA-based vaccine against the coronavirus and when injected produces the spike protein of the SARS-CoV-2 virus and elicits an immune response, which plays a vital role in protection from the disease as well as viral clearance. It said that interim results from Phase-III clinical trials in over 28,000 volunteers showed primary efficacy of 66.6 per cent for symptomatic RT-PCR positive cases. This has been the largest vaccine trial so far in India for COVID-19, the DBT said. The vaccine had already exhibited robust immunogenicity and tolerability and safety profile in the adaptive Phase one and two clinical trials. Both Phase one\/two and Phase three clinical trials have been monitored by an independent data safety monitoring board, it added

Enjoy another Indian Railways Vistadome ride! New Jalpaiguri-Alipurduar Tourist Special to run from this date; Check timings

2021年10月12日 SHLF 0 Comments

Vista Dome Tourist Special: Enjoy scenic sub-Himalayan views while travelling! Indian Railways is all set to begin operations of Vista Dome Tourist Special between New Jalpaiguri The Vista Dome Tourist Special train service will be operated with revised timings. According to the Northeast Frontier Railway zone, Train Number 05777\/05778 New Jalpaiguri Check the revised timings and halts of the New Jalpaiguri Train Number 05777 New Jalpaiguri Train Number 05778 Alipurduar Junction

EPL Summer Transfer Window Highlights 2021: Some hits and a few misses

2021年10月12日 SHLF 0 Comments

EPL Transfer Window Highlights 2021: But once it got going, the transfer window blew up as arguably the two biggest ticket players switched sides Now that the curtain has fallen on an eventful transfer window, here is a look at how the English Premier League (EPL) clubs fared. Manchester City Incomings: Jack Grealish (Aston Villa, Having missed out on primary target Harry Kane, who chose to stay put at Tottenham Hotspur, and Cristiano Ronaldo to crosstown rivals Manchester United leaves Guardiola with Gabriel Jesus as the lone senior striker. Manchester United Incomings: Jadon Sancho (Borussia Dortmund, 8 million), Tom Heaton (Aston Villa, free) Outgoings: Daniel James (Leeds United, Ronaldo Chelsea Incomings: Romelu Lukaku (Inter Milan, 5 million), Saul Niguez (Atletico Madrid, loan) Marcus Bettinelli (Fulham, free) Outgoings: Fikayo Tomori (AC Milan, 8 million), Davide Zappacosta (Atalanta, 5 million), Victor Moses (Spartak Moscow, 3 million), Olivier Giroud (AC Milan, 5m), Valentino Livramento (Southampton, The club also moved on several fringe players for significant profit but the failure to land defender Jules Kounde from Sevilla could leave Thomas Tuchel short of reliable options for a gruelling season. Liverpool Incomings: Ibrahima Konate (RB Leipzig, 5 million), Harry Wilson (Fulham, 5 million), Georginio Wijnaldum (Paris Saint-Germain, free), Marko Grujic (Porto, But the German manager will nonetheless be irked following the club Arsenal Incomings: Ben White (Brighton and Hove Albion, 2 million) Outgoings: Willian (Corinthians, free), Joe Willock (Newcastle United, Mikel Arteta spent heavily on young, hungry players and, with no European football, he will have enough time to gel them into a well-oiled unit as he aims to return the club to the glory days of the early noughties. Tottenham Hotspur Incomings: Pierluigi Gollini (Atalanta, loan), Bryan Gil (Sevilla, 6 million plus Erik Lamela), Cristian Romero (Atalanta, The additions of Gil, Romero, and Emerson infuse youthful energy into a side that, for much of Jose Mourinho Leicester City The Foxes finished most of their transfer business early, giving manager Brendan Rodgers enough time to get the team ready for another tilt at Europe. It Leeds United Marcelo Bielsa Having finished a surprise ninth in their first top flight season in nearly 20 years, the club have brought in Jack Harrison (Manchester City, undisclosed), Junior Firpo (Barcelona, 5 million), Kristoffer Klaesson (Valerenga, 6 million), and Daniel James (Manchester United, Aston Villa Jack Grealish may have left huge boots to fill following his departure to Manchester City, but the Villans quickly moved to spend the Dean Smith signed Emiliano Buendia (Norwich City, Everton The club never really recovered from Carlo Ancelotti The Spanish boss will have his fingers crossed in the hope new signings Demarai Gray (Bayer Leverkusen, 7 million), Andros Townsend (Crystal Palace, free), and Saloman Rondon (Dalian Professional, free) can turn the club Newcastle United The Magpies made only one first-team signing With a wantaway owner refusing to spend on transfers, the St. James

Share Market HIGHLIGHTS: Sensex ends above 58100 for first time ever, Nifty tops 17,300; RIL jumps 4%

2021年10月12日 SHLF 0 Comments

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 posted record closing highs for the second straight day on Friday. BSE Sensex surged 277 points or 0.48 per cent to 58,130, while the Nifty 50 index surged to end at 17,320. Reliance Industries Ltd (RIL) shares were the top index contributor, rising over 4 per cent. Titan Company, Bajaj-Auto, Tata Steel, Maruti Suzuki, Dr Reddys Laboratories, Asian Paints were among top index gainers. On the contrary, Bharti Airtel was the worst performer, falling 1.20 per cent. Hindustan Unilever Ltd (HUL), HDFC Bank, Housing Development Finance Ltd (HDFC), IndusInd Bank, Axis Bank were among Sensex losers. Nifty sectoral indices ended mixed. Nifty Oil and gas index gained over 2 per cent. Bank Nifty fell 0.19 per cent to end at 36,762

Bank Holidays September 2021: Banks to remain shut for up to 12 days in September; check list here

2021年10月5日 SHLF 0 Comments

Bank Holidays in September 2021 in India: Banks in India will remain closed for up to 12 days in September 2021, including second and fourth Saturdays, and Sundays. Apart from six weekly offs, banks will remain shut in different states on account of different holidays. Banks in most states will observe a holiday on 10 September 2021, on account of Ganesh Chaturthi Since there are state-specific holidays for different occasions, banks will not be shut for all six days for all states in September 2021. Also, 11 Septembers leave overlaps with the second Saturday. The Reserve Bank of India has categorised holidays under three categories The list of holidays given below has been notified by RBI. Bank holidays in September 2021 08 September 2021: Tithi of Srimanta Sankardeva 09 September 2021: Teej (Haritalika) 10 September 2021: Ganesh Chaturthi\/Samvatsari (Chaturthi Paksha)\/Vinayakar Chathurthi\/Varasiddhi Vinayaka Vrata 11 September 2021: Ganesh Chaturthi (2nd day) 17 September 2021: Karma Puja 20 September 2021: Indrajatra 21 September 2021: Sree Narayana Guru Samadhi Day Only banks in Guwahati will observe a holiday on 8 September due to Tithi of Srimanta Sankardeva. Banks in Gangtok will remain closed on 9 September on account of Teej (Haritalika). Banks in most of the states will remain shut on 10 September 2021, except in Agartala, Aizawl, Bhopal, Chandigarh, Dehradun, Gangtok, Guwahati, Imphal, Jaipur, Jammu, Kanpur, Kochi, Kolkata, Lucknow, New Delhi, Patna, Raipur, Ranchi, Shillong, Shimla, Srinagar and Thiruvananthapuram. On 11 September, banks in Panaji will observe a holiday on account of Karma Puja. While only Ranchi will observe a bank holiday on 17 September. Only banks in Gangtok will remain shut on 20 September on account of Indrajatra. Only Kochi and Thiruvananthapuram will observe a bank holiday on 21 September 2021 due to Sree Narayana Guru Samadhi Day Weekend holidays in September 2021 05 September 2021 \u2013 Weekly off (Sunday) 11 September 2021 \u2013 Second Saturday 12 September 2021 \u2013 Weekly off (Sunday) 19 September 2021 \u2013 Weekly off (Sunday) 25 September 2021 \u2013 Fourth Saturday 26 September 2021 \u2013 Weekly off (Sunday)