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Eco/Invest/Demography

FPIs pull out Rs 7,622 from Indian markets so far in April

FPIs have been “net sellers in the equity markets for five weeks in a row now”, noted Himanshu Srivastava, associate director – manager research, Morningstar India.

Srivastava said the recent spate of net outflows could be largely attributed to the enormous surge in the COVID-19 pandemic in India, which has led several states to impose restrictions to bring the situation under control.

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PMO says 551 oxygen generation plants to be set up through PM Cares Fund

These dedicated plants will be established in identified government hospitals in district headquarters in various states and union territories, and their procurement will be done through the Health and Family Welfare ministry.

The PM Cares Fund had earlier this year allocated Rs 201.58 crores for installation of additional 162 dedicated PSA medical oxygen generation plants inside public health facilities in the country, the PMO noted.

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Covid vaccine shortage holds emerging markets back from global rally

“Not only do we have a much slower vaccination program across emerging markets, but worries over debt loads, external vulnerabilities, fiscal prudence, inflation and currency stability will hamper a much stronger recovery post-pandemic,” said Mohammed Elmi, a portfolio manager at Federated Hermes in London. He recommends rotating into countries and assets that benefit from U.S. growth via trade links or exports, such as Mexico.

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SIA-India for unleashing full potential of all satellite bands for IoT

”Satellite-based connectivity has proven to be a cost-competitive and efficient alternative to the provision of broadband – whether directly or by extending terrestrial networks – especially in places that would otherwise be difficult or impossible to reach with terrestrial infrastructure,” said statement by SIA, a non-profit association representing the interests of communication satellite ecosystem in India. The comments come against the backdrop of TRAI inviting public views for framing licensing norms for satellite-based connectivity for low bit rate applications. The low bit rate applications are sensor-based applications used in ATMs, traffic management, vehicle tracking, IoT devices.

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India’s urban affluent hit by new virus wave after dodging first

With the so-called consuming class ravaged by the new wave, India’s growth is at risk because private consumption accounts for about 60% of India’s economy. The central bank’s consumer confidence survey is showing increasing pessimism on jobs and policy makers have said they stand ready to support growth in what is now the world’s epicenter of the pandemic.

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