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IPO gold rush: Buoyed by global liquidity, firms lap up Rs 31k cr in FY21

by | Mar 28, 2021 | ,

Companies including LIC, HDB Financial Services, NCDEX, ESAF Small Finance Bank are expected to come out with their IPOs in 2021-22, said Rajendra Naik, Managing Director – Investment Banking, Centrum Capital.
Sandeep Bhardwaj, CEO, Retail at IIFL Securities said the IPO pipeline remains strong with 28 companies holding markets regulator Sebi’s approval for raising nearly Rs 28,710 crore through initial share-sale going forward.

Banks to conduct special clearing operations for closure of govt accounts on Mar 31: RBI

by | Mar 28, 2021 | , ,

Under this, presentation clearing will take place between 1700 to 1730 hrs and return clearing will take place between 1900 and 1930 hrs at the three CTS (cheque truncation system) grids located in New Delhi, Chennai and Mumbai.
Under the CTS system, there is no need to present a cheque physically for clearance, instead an electronic image is being transmitted to the paying branch through the clearinghouse, with the relevant data.

Jal Shakti Ministry approves Rs 465 cr performance incentive to 7 states under Jal Jeevan Mission

by | Mar 28, 2021 | , ,

Since the announcement of Jal Jeevan Mission on August 15, 2019, four crore households have been provided tap water connections, thus increasing the tap water supply from 3.23 crore (17 percent) rural households in the country to more than 7.20 crore (37.6 percent), the statement added.

This is the ”speed and scale” of the work being undertaken to provide clean drinking water to every rural household, it said.

Stranded Suez Canal ship re-floated, marine services firm says

by | Mar 28, 2021 | , ,

At least 369 vessels were waiting to transit the canal, including dozens of container ships, bulk carriers, oil tankers, and liquefied natural gas (LNG) or liquefied petroleum gas (LPG) vessels, SCA Chairman Osama Rabie told Egypt’s Extra News on Sunday. The ship’s technical manager Bernhard Schulte Shipmanagement (BSM) did not immediately respond to a request to comment.

Shipping rates for oil product tankers nearly doubled after the ship became stranded, and the blockage has disrupted global supply chains, threatening costly delays for companies already dealing with COVID-19 restrictions. Some shippers had decided to reroute their cargoes around the Cape of Good Hope, adding about two weeks to journeys and extra fuel costs.

Global fertility rate: Are we heading towards a population crash?

by | Mar 28, 2021 | , ,

There is some evidence that shrinking populations are bad for the global economy. To me, however, the greater tragedy would be a failure to take full advantage of the planet’s capacity to sustain human life. No kind of family policy should be mandatory. But there should be policies that make larger families a more appealing option, both economically and otherwise.

Green Climate Fund chief urges reopening of U.S. finance tap

by | Mar 27, 2021 | , ,

Glemarec told the Thomson Reuters Foundation from his base in South Korea that the fund had allocated a record amount at its board meeting last week.

It approved $1.2 billion for 15 new climate projects – from a private equity fund for green energy and transport in India to help for farmers in Micronesia to keep their food crops safe from extreme weather and rising seas. The board also green-lighted projects aimed at reducing emissions from forests in the Republic of Congo and protecting Cuba’s coastal ecosystems.

Fire at Mumbai hospital: FIR names HDIL’s Wadhawans

by | Mar 27, 2021 | ,

”Rakesh Wadhawan, Nikita Amit Singh Trehan, Sarang Wadhawan and Deepak Shirke, who are directors of the mall, and Amit Singh Trehan and Sweety Jain, who are directors of the hospital are named in the FIR. Nikita Trehan is also a director of the hospital,” said a police official.
There was mismanagement in terms of security and the fire safety equipment was not checked regularly,” the official said.

The four-storey (ground plus three) mall houses as many as 1,108 shops, but 40 per cent of them are closed, he said.

Courtrooms to shrink in future thanks to technology: CJI

by | Mar 27, 2021 | ,

I see a trend of having smaller courtrooms in the future because of Ravi Shankar Prasad”s ministry. The e-filing and data which can be contained is going to take away the need for many storage rooms and many rooms which are necessary for storing papers. The SC has done its bit on issues of court infrastructure. It has devised benchmarks and frameworks for minimum standards,” said Chief Justice of India S A Bobde