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Daily wrap up : 20th April 2021
by Neha Mane / 05:00 pm 20 Apr 2021 Tuesday
Salaried jobs lost: 10 million & counting
by Neha Mane / 11:56 am 20 Apr 2021 Tuesday

While the net number of jobs lost post the pandemic stood at about 5.5 million at March-end compared with the average in 2019-20, the number of salaried jobs lost is a staggering 10 million. According to Mahesh Vyas, CEO & MD, CMIE, 60% of these 10 million jobs were lost in the rural sector.

India to fund capacity boost at Serum Institute
by Neha Mane / 11:55 am 20 Apr 2021 Tuesday

India is set to accept the Serum Institute of India's (SII) request for a 30 billion rupee grant to boost its capacity to make the AstraZeneca COVID-19 vaccine. SII, the world's biggest vaccine maker, sought the funds to increase its monthly capacity to more than 100 million doses by the end of May, from up to 70 million currently.

L&T completes 75 years of construction and mining machinery business
by Neha Mane / 11:53 am 20 Apr 2021 Tuesday

Larsen & Toubro on Monday has completed 75 years of its construction and mining machinery business, which is also one of its oldest businesses. The business has supplied over 60,000 units of various equipment in the country during its 75 years association with the construction and mining industry. It has been at the forefront of indigenous development of engineering design and manufacturing capabilities.

Link claiming to change WhatsApp in Pink is a virus, can hack mobiles
by Neha Mane / 11:51 am 20 Apr 2021 Tuesday

Cyber experts have warned users from falling into the prey of a virus link, which claims to turn WhatsApp in pink color and comes with new features. According to cyber security experts, clicking on the link claiming to be an official update from WhatsApp will hack users phone and they may lose access to their WhatsApp.

India to become No 1 EV maker in world: Nitin Gadkari
by Neha Mane / 11:50 am 20 Apr 2021 Tuesday

Addressing Amazon's Smbhav Summit virtually Union Minister Nitin Gadkari on Sunday expressed confidence that lithium-ion batteries would be manufactured fully in the country in the next six months, and India will become number one electric vehicle maker in the world in due course of time.

Export hubs urge migrant workers not to leave
by Neha Mane / 11:49 am 20 Apr 2021 Tuesday

Fearing a possible mass withdrawal of migrant laborers in the wake of the second wave of the pandemic, exporters at some of the key hubs have started urging their workers to refrain from leaving the factories this time around, just when order flows are improving.

Less extreme lockdown to work better for India: Carmen Reinhart
by Neha Mane / 11:48 am 20 Apr 2021 Tuesday

India has a more constrained fiscal capacity and limited room on the monetary policy side as it battles a second wave, said Carmen Reinhart, chief economist of the World Bank Group, suggesting a less extreme lockdown in view of the country’s large informal economy. She backed early action to help businesses and households that face financial stress.

Mumbai vehicles now need colour-coded stickers to move on road
by Neha Mane / 11:47 am 20 Apr 2021 Tuesday

People carrying out essential services in Mumbai will have to use colour-coded stickers on vehicles to to move in the city and vehicular traffic on the roads. Vehicles used for medical needs will have red sticker. Vehicles involved in transporting food need stickers in green. Officials of (BMC), electricity personnel, media members and telecom department will use an orange sticker.

HDFC Bank Q4 results: profit jumps 18%, net interest income rises 13%
by Denzil Fernandes / 08:00 pm 19 Apr 2021 Monday

HDFC Bank reported an 18.2 percent YoY growth in its profit at Rs 8,186.5 crore for the quarter ended March 2021. Net interest income (NII) grew 12.6 percent to Rs 17,120.15 crore in Q4FY21. The cost-to-income ratio for the quarter was at 37.2 percent, as against 39 percent in the year-ago quarter.

BMW to launch lower end models to keep up with the Covid stress
by Denzil Fernandes / 07:44 pm 19 Apr 2021 Monday

BMW claim that entering a niche segments that cater to customers across established categories will be part of their post-Covid plans as luxury car market witnesses significant pressure over the last year with many consumers postponing plans for purchases until the economy settled down. For most luxury manufacturers, stability of policy and regulation impacts the planning of car launches.

India’s power consumption grows nearly 45%
by Denzil Fernandes / 07:30 pm 19 Apr 2021 Monday

Power consumption in the country grew nearly 45% in the first half of April to 60.62 billion units (BU) over the corresponding period a year ago, showing robust recovery in industrial and commercial demand of electricity, according to power ministry data. Power consumption in the first half of April last year was recorded at 41.91 BU.

Fitch Solutions : India remains badly placed to tackle COVID spread
by Denzil Fernandes / 07:20 pm 19 Apr 2021 Monday

Despite various reforms in healthcare, Fitch Solutions on Friday said India remains badly placed to tackle the third wave of COVID-19 infections sweeping the nation, and added that the enormous crisis has highlighted the need to increase investment in the healthcare sector.

From Swiggy to BYJU’S - $902m Raise by Indian Startups
by Denzil Fernandes / 07:19 pm 19 Apr 2021 Monday

Indian startups saw an exponential boom in the investment. In the past few days around $900 mn have been raised and there seems to be no point of pause. Major investments were done in food delivery company Swiggy and edtech startup Byjus’s, whereas another food delivery giant Zomato’s IPO also saw the investment charts go up.

Macrotech Developers IPO debuts on monday
by Denzil Fernandes / 07:16 pm 19 Apr 2021 Monday

Macrotech Developers will list its equity shares on the Indian stock exchanges on April 19. Formerly known as Lodha developers, the real estate company's issue price was fixed at ₹483- ₹486 per share. The IPO of Macrotech Developers was subscribed 1.36 times. Macrotech Developers (Lodha) is one of the largest real estate developers in India.

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