September 23, 2021

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India to be the 5th largest market globally by 2024

By Administrator_India Capital Sands New initial public offerings will help add $400 billion to the overall market capitalization over the next three years, an American brokerage said on Monday. The estimate comes on the back of a surge in IPO activity in the last few months, which has seen companies raise $10 billion from public markets since the beginning of the year -- higher than the money raised in the three years prior to that, Goldman Sachs said. "We expect ...
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No Delta plus variant of COVID-19 found in 376 samples tested in Mumbai

By Administrator_ India Capital Sands No Delta plus variant of COVID-19, considered highly contagious, was found among 376 samples tested in the second round of genome sequencing in Mumbai, a senior civic official said. Additional municipal commissioner (western suburbs) Suresh Kakani said the samples were examined at a genome sequencing facility inaugurated in the city last month. In a statement issued by the BMC, Kakani said, “The genome sequencing facility at civic-run Kasturba Hospital has tested 376 samples so far ...
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Monsoon Updates: Orange alert in Delhi, heavy rain likely

By Administrator_ India Capital Sands The India Meteorological Department has issued an orange alert for Delhi on September 16. While the alert is for moderate rain, heavy rain is also expected at isolated places. An orange alert is issued as a warning for extremely bad weather with the potential of disruption in commute with road and drain closures and interruption of power supply. The capital has already recorded 1,146.4 mm of rainfall so far this monsoon season, the highest in 46 ...
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Need 'quick, decisive' steps to stop second Covid-19 wave: Modi tells CMs

PM to visit US for Quad on Sept 24; focus on Afghan crisis, Covid-19

By Administrator_ India Capital Sands Prime Minister Narendra Modi will travel to the US next week to participate in the first in-person Quad summit that is expected to broadly focus on contemporary global challenges, including the Afghan crisis, the Covid pandemic, and ensuring a free and open Indo-Pacific. In his first visit to the US since President Joe Biden took office, the prime minister will participate in the summit of the four-nation grouping on September 24 in Washington and address the 76th session ...
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Sensex slips 127 points, Nifty ends session at 17,355

By Administrator_ India Capital Sands Equity benchmark Sensex dropped 127 points on Monday, weighed by losses in index heavyweights Reliance Industries, ICICI Bank, and HDFC Bank. The 30-share BSE index ended 127.31 points or 0.22 percent lower at 58,177.76, while the broader NSE Nifty slipped 13.95 points or 0.08 percent to 17,355.30. RIL was the top loser in the Sensex pack, shedding over 2 percent, followed by ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank, and Tech Mahindra ...
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Vaccine passports

Vaccine passports ditched in UK’s new plan to manage Covid-19 pandemic

By Administrator_ India Capital Sands British Prime Minister Boris Johnson will set out on Tuesday his plans to manage the Covid-19 pandemic in the winter months, announcing a decision to scrap the introduction of vaccine passports and steps to end some emergency powers. Johnson, under fire from some in his governing Conservative Party for raising taxes to fix a health and social care crisis, looks set to try to soothe those critics by ditching plans to introduce passports despite an increasing number of coronavirus cases. Speaking ...
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Life insurers report 3% YoY growth in new business premiums in August

By Administrator_ India Capital Sands After witnessing a double-digit contraction in new business premium (NBP) in July, life insurers are back in the green again, witnessing a marginal year-on-year (YoY) growth of 3 percent in NBP in August, owing to a strong performance by the private insurers. In July, life insurers reported an 11 percent YoY drop in NBP while in June they managed to report a 7.53 percent increase in NBP, following a dip in May due to the second wave of the ...
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Gold imports nearly double in August as prices dip ahead of festivals

By Administrator_ India Capital Sands India's gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewelers to ramp up purchases for the festive season, a government source said. Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 12% from an all-time high of $2,072 in August 2020. The surge in imports could increase India's trade deficit and pressure the rupee ...
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Saudis cut oil prices to woo buyers as OPEC+ boosts supply

By Administrator_ India Capital Sands Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. State producer Saudi Aramco is rolling back pricing on all of its grades to its biggest market in Asia. Three successive months of increases in the company’s official selling prices had left refiners smarting as the coronavirus pandemic plays havoc with the recovery ...
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Tokyo Paralympics: India’s Bhavinaben Patel wins silver medal

By Administrator_ India Capital Sands Indian table tennis player Bhavinaben Patel has won a historic silver medal in her maiden Paralympic Games. With this medal, the Indian team opened its account at the Tokyo Games. She dedicated her Silver medal to India. "I want to thank my coach, family members, and friends for their constant support," said Patel after winning the silver medal. Prime Minister Narendra Modi, on August 29, took to Twitter to congratulate Patel on her historic win. "The remarkable ...
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