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Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts
Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts
Rounak JainApr 12, 2021, 15:16 IST
COVID-19 and lockdown panic wiped off lakhs of crores of investor wealth on April 12BCCL
Indian share markets bore the brunt of panic selling, with the benchmark Sensex and Nifty falling by over 3.5% during the day’s trading.
The panic selling wiped off over ₹8 lakh crore of investor wealth, but the worst might be over for now.
Attrition
Lowest ever
The net income for the quarter grew 15.6% to $1.26 billion with a wider margin of 26.8%. The company declared a dividend of ₹15 a share. However, some reports suggest that the bottom line has been below expectations.
TCS share price is already near its all-time high. Market participants expected a good quarter as the pandemic had forced companies to digitise their operations and process at a scale never seen before. The entire Nifty IT index, which includes peer stocks like Infosys, Tech Mahindra, and HCL Tech aside from the smaller peers, gained over 6.6% in the three months ending March 2021, a lot more than the benchmark index Nifty, which went up 5.1%.
Evergreen denies it was sued over Suez blockage | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Evergreen denies it was sued over Suez blockage
By Kao Shih-ching / Staff reporter
Evergreen Marine Corp (長榮海運) on Friday dismissed a foreign news report that it was being sued by the Japanese owners of the Ever Given container ship, saying that Evergreen is just “an involved party” listed in the lawsuit.
Evergreen chartered the Panama-flagged vessel from Japan’s Shoei Risen Kaisha Ltd.
The 400m-long ship last month blocked the Suez Canal for six days after it ran aground 6 nautical miles (11km) from the southern end of the estuary.
Evergreen Marine Corp president Eric Hsieh speaks at an investors’ conference in Taipei on Thursday. The company on Friday dismissed a foreign news report that it was being sued by the Japanese owners of the Ever Given container ship, saying that Evergreen is just “an involved party” listed in the lawsuit.