Taking Stock | Stocks fall like ninepins as volatility index jumps 25%; investors lose Rs 6.64 lakh crore
Nifty formed a big red candlestick formation on the daily chart, erasing the gains of the last 11 days. December 21, 2020 / 04:55 PM IST
Indian equities fell like ninepins on December 21 as reports of a new and virulent COVID-19 strain in the UK spooked investors.
A new variant of the novel coronavirus has been identified in the United Kingdom. England’s Chief Medical Officer Chris Whitty said on December 19 that the new variant of the coronavirus, which causes COVID-19, can spread faster.
As per media reports, Prime Minister Boris Johnson was to chair a crisis meeting on December 21 as a growing number of countries blocked flights from Britain over a new highly infectious coronavirus strain the UK said was out of control .
Union minister of Textiles Smriti Irani. (file photo)
UDUPI: Textiles ministry is bringing to form a structure under which the production linked incentive (PLI) scheme for technical textiles and manmade fibre (MMF) segment will be rolled out, union minister Smriti Irani said at an ASSOCHAM Foundation week Programme on Friday.
“We are currently on the anvil of also bringing to the fore the new Indian textile policy, the last time India had a textile policy was two decades ago,” said Irani, minister for textiles and women and child development while virtually addressing first session on Day 5 of ASSOCHAM Foundation week 2020: “India’s resilience: Aatmanirbhar roadmap towards a US$5 trillion economy,”
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Market Movers: Burger King makes stellar debut, PSUs shine; 75 stocks blink sell
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Private lender YES Bank declined for the second session in a row as it dropped by its daily limit of 5 per cent to Rs 18.45.
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As many as 538 stocks rose by their daily limit on the BSE.
MUMBAI: Gains in lenders and engineering and construction firm Larsen & Toubro prompted benchmark equity indices to log new highs on Monday, while a stellar debut by Burger King India stole the show. Nifty formed a Doji candle for the third consecutive session, hinting indecision in the market, analysts said.
Walmart to support Modi s Make in India via higher exports Quartz 12/11/2020
Walmart is trying to prove its loyalty to India.
The Bentonville-based retail major yesterday (Dec. 10) said it will triple its exports from India to $10 billion (Rs73,680 crore) a year by 2027. “By significantly accelerating our annual India exports in the coming years, we are supporting the Make in India initiative and helping more local businesses reach international customers while creating jobs and prosperity at home in India,” Doug McMillon, president and CEO of Walmart said in a press release.
The announcement comes at a time when the Narendra Modi government has been encouraging local and multinational companies to “make in India for the world.” The government has so far committed incentives worth up to Rs2 lakh crore for companies to set up factories in the country. New Delhi hopes this scheme will woo companies that may be looking to exit China amid rising tension between the eastern