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गुरुवार, 2 सितंबर 2021

Market Scenario, Morning Updates

Market Scenario, Morning Updates 

TCSN Market Scenario

02 sep 2021

Hospitals see a huge rise in revenues in the second wave

The second wave of covid-19 was not so bad for hospitals in the country as the total hospital occupancy has seen an increase, reports Mint.

The occupancy rate had gone down to 36.9% in the first quarter of the last fiscal and to 58.8% in the fourth quarter.

In the first quarter of this fiscal, the occupancy rate is at 64.2%.

This jump has helped hospitals seeing a steep rise in revenue.

The covid-19 related bed occupancies and longer stays in the hospitals also saw a huge jump.

Sebi mulls new rules for digital gold trades

The Sebi is mulling a new set of regulations to control the digital gold trade, reports The Economic Times.

Why it's important: The plan is for bringing gold spot exchange rules for registered entities.

Now, online trade is conducted by fintech firms and brokerages.

The problem: The biggest issue facing now is that the digital traders are just aggregators.

In that case, there will be a problem to fix accountability if something goes wrong.

Customer protection always involves tough actions: NPCI Chief

Dilip Asbe, CEO of NPCI, in an interview with The Economic Times says that around 50% of total retail IPO applications are using UPI.

What he says: This digital mode of payment is helping expand investments, especially among the younger generations.

The multiple daily settlements are the first of its kind in the world.

This reduces settlement risks significantly.

The RBI has launched a strong “tokenisation framework” that reduces the risk to almost near zero for card payments, if the ecosystem adopts them effectively.

Customer protection always involves tough actions which benefit the system in the long run.

Tatas puts launch of 'Super App' on hold

The plan to launch a 'Super App' by Tata Digital is put on hold for regulatory clarity, reports The Economic Times.

Why it's important: The group is awaiting to get nuances on Consumer Protection (E-Commerce) Rules, 2020.

However, the app will be formally unveiled later this month.

The amendments in the new rule disallow group firms to take part in an e-commerce entity.

French giant Lactalis likely to buy Kwality

The world's largest dairy company Lactalis is planning to buy debt-laden Kwality Ltd reports The Economic Times.

Why it's important: Creditors of Kwality Ltd failed in their attempt to settle a timely debt resolution deal.

This made the NCLT recommend it for liquidation.

This is French dairy company Lactalis's fourth acquisition in India and it had spent around ₹5,000 crore on buyout over the past six years.

Kwality is facing bankruptcy proceedings since 2018 on equity firm KKR's complaint that it defaulted on a ₹600-crore financing plan.

Jet gets ready to fly by 2022

The beleaguered Jet Airways is planning to fly again in the first quarter of next calendar year, reports Business Standard.

Why it's important: The company was grounded for over two years now after huge losses.

The NCLT had already given its nod in June to the resolution plan by a consortium of Murari Lal Jalan and Kalrock Capital.

The new Jet management is talking to DGCA and AAI for the plan.

Jet has plans to restart operations with 20 aircraft and 30 destinations in the first phase.

It has also recruited former Jet executives.

Heavy rains are not enough to fill monsoon deficiency

The southwest monsoon is on its retreat with heavy rains across the country but it will not make up for its deficiency for the season, reports Business Standard.

Why it's important: The September rains are expected to be more than 110 percent of the long period average after a dull August.

Last month was the sixth driest August since 1901 with a shortfall of 24 percent.

The heavy rains this month are better for the next rabi crop and fill reservoirs.

Sebi is likely to dilute compensation norms of mutual funds

The Sebi is planning to dilute some of the controversial compensation clauses in the mutual fund rules, Business Standard reports.

Why it's important: The industry wanted some of the rules changed as the fund houses needed to invest a fifth of their key employees' salaries in their schemes.

The industry says it has implementation challenges.

The lock-in period of three years and no redemptions during the lock-in period is also tough, they say.