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The economic impact of the current rise in Covid cases will be significant in the short-term as it will lead to lockdowns across many states in the country. However, the demand is never fully destroyed, and will come back. For many industries like travel, tourism, restaurants and hotels the impact will be significant. IT, pharma, metals, telecom and consumer staples will be less impacted and provide support. Discretionary consumption will be the most impacted sector and will see challenges.Naveen Kulkarni, Chief Investment Officer, Axis Securities
Bajaj Consumer reported net income for the fourth quarter that beat the average analyst estimate.
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Jubilant Pharma Ltd. successfully completed safety studies in animals and healthy human volunteers in India using an oral formulation of Remdesivir, according to a statement on exchanges.
Jubilant has sought authorisation for additional studies from the Drug Controller General of India as it hopes to provide an affordable, easy-to-administer and potentially effective treatment option for Covid-19 patients
The proposed oral treatment is expected to be for 5 days, a duration similar to the injectable dosage form, the drugmaker said.
Says formulation is likely to “ease the capacity constraint that injectable formulation faces and ensure wider and timely availability for the patients of Covid-19”
There’s a New Virus Variant in India. How Worried Should We Be?
Bajaj Auto, Hero MotoCorp Shares Slump As CLSA Sees Recovery Momentum Slowing
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Macrotech Developers IPO: All You Need To Know
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All 19 sector sub-indexes compiled by BSE slipped, led by a gauge of lenders. Around 1,572 stocks declined on the NSE while 209 advanced.
Nifty This Week: Technical Charts And More – Three Trends And What To Do With Them
Asian shares fluctuated and U.S. futures were a touch weaker Monday with investors weighing the recovery in global growth and corporate earnings against the latest appalling tallies of Covid-19 infections.
Benchmarks swung from red to green in Japan, Hong Kong and China. U.S. futures pared early losses, following a fourth straight weekly gain for the S&P 500 Index.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 1.31% to 14,450, as of 8 a.m. (Click here for more global markets update)
Indian stocks logged their second straight week of declines on Friday as the South Asian country continues to witness a sharp surge in coronavirus cases, posing a risk to its economic recovery.
The fourth-quarter earnings season was off to a shaky start. HDFC Bank, India's largest private lender, missed analyst estimates as it set aside more money to build buffers against bad debt.
Key earnings to watch today: ACC, Bajaj Consumer, Crisil, ICICI Prudential
Meanwhile, Macrotech Developers will make its trade debut after the IPO got subscribed 1.36 times. The Mumbai-based realty company’s Rs 2,500- crore issue had a price band of Rs 483-486 per share.
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