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During the coronavirus pandemic, offices around the world had to alter their way of working and make work from home the norm to keep people safe. For two years, almost all companies in the world offered <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> and there were reports that this would become the future of working. Employees enjoyed the new flexibility and realised how remote work can help them balance work and life with ease. However, contrary to what was perceived, companies began calling employees <keyword id="9081434" type="General" weightage="100" keywordseo="back-to-office" source="Orion">back to office</keyword> as soon as it was safe. <h2><keyword id="20122085" type="General" weightage="20" keywordseo="CEOs" source="keywords">CEOs</keyword> want employees back in offices </h2> In the last few months, there have been ample studies that show how employees are more productive while working from home or in a hybrid setup where they are required to come to office for 2-3 days in a week. Yet, companies are adamant on calling their employees back to offices. For instance, Amazon recently ordered its employees to return to office for five days a week, putting an end to remote work forever. Now, a new study by <keyword id="19896405" type="General" weightage="20" keywordseo="KPMG" source="keywords" meta.keywordsubtype="org" meta.entityname="KPMG" meta.hostid="261" meta.entityid="KPMG">KPMG</keyword> has revealed that majority of Indian CEOs are ready to incentivise employees who work from the office, marking a shift towards a more traditional work model post-pandemic. According to the KPMG 2024 India CEO Outlook, 91 percent of Indian CEOs are considering linking rewards, such as promotions and pay raises, to <keyword id="21386806" type="General" weightage="20" keywordseo="office-attendance" source="keywords">office attendance</keyword>. This figure is slightly higher than the global average of 87 percent, indicating a stronger push in India to encourage in-person work. The report, based on responses from 125 Indian CEOs, highlights a growing belief that office-based work fosters better collaboration, innovation, and productivity. As many as 78% of Indian CEOs expect their entire workforce to return to the office within the next three years, a trend mirrored globally, though at a slightly higher rate of 83%. <keyword id="20142903" type="General" weightage="20" keywordseo="Indian-companies" source="keywords">Indian companies</keyword> are increasingly focused on improving their employee value proposition—the set of benefits and incentives offered to employees. CEOs are prioritising a supportive and engaging office environment as key to attracting and retaining top talent. By linking rewards to in-office work, companies aim to align employee satisfaction with long-term growth objectives. <h2>Understanding what employees want </h2> Sunit Sinha, Partner and Head of Human Capital Advisory Solutions at KPMG in India, pointed out that in the post-COVID-19 era, it is crucial for businesses to understand the evolving preferences of employees. As workers reconsider their options, businesses need to adapt to remain competitive in the talent market. Sinha said that companies must use data to address employee needs, saying, “The power to shape the future of talent lies in staying informed and adapting proactively.” In addition to in-office incentives, the KPMG report also talked about the increasing role of technology, particularly generative AI, in workforce development. Half of the CEOs surveyed are prioritising the enhancement of workforce skills alongside their investment in AI. Indian CEOs believe generative AI can help develop diverse skills and prepare their teams for a future where technology plays a central role in operations. However, while CEOs are optimistic about the potential of AI, they also expressed concern over the lack of regulations governing the technology. Seventy-seven percent of Indian CEOs are apprehensive about the pace of AI regulation, higher than the global average of 69%. Despite these concerns, Indian business leaders remain confident in AI’s ability to enhance organisational performance and secure a competitive edge.

91 percent Indian CEOs want to reward employees who work from offices, majority expect to end remote work in three years

<ul class="summary-list"><li>Ant-backed Indian startup <keyword id="830092" type="COMPANY" weightage="60" keywordseo="Zomato">Zomato</keyword> has filed for an <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> that could raise as much as $1.1 billion.</li><li>The food-delivery group's listing could be <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s biggest this year amidst a crushing pandemic.</li><li>Zomato plans to issue 90% of new shares, while its major shareholder will offer the rest.</li></ul>Indian food-delivery firm Zomato, backed by billionaire Jack Ma's Ant Group and <a href="https://markets.businessinsider.com/stocks/uber-stock">Uber</a>, plans to raise up to 82.5 billion rupees ($1.1 billion) via an initial public offering in what would be the country's largest stock-market listing this year.The startup's <a href="https://www.sebi.gov.in/filings/public-issues/apr-2021/zomato-limited-drhp_49956.html">initial prospectus</a> filed with the Securities and Exchange Board of India this week showed it plans to issue new shares to raise 75 billion rupees ($1.01 billion), while its top shareholder Info Edge India will offer shares worth 7.5 billion rupees ($101.2 million).The company's listing plans come as India combats a <a href="https://www.insider.com/photos-reveal-india-crisis-surge-covid-19-infections-2021-4#india-has-been-reporting-the-highest-number-of-new-daily-coronavirus-infections-in-the-world-breaking-the-global-record-for-the-fifth-day-in-a-row-earlier-this-week-1">crippling coronavirus wave</a>, with at least 300,000 new infections being recorded every day in the past week. Official fatalities have <a href="https://www.bbc.co.uk/news/world-asia-56919924">topped 200,000</a> as of Thursday, but the real number is thought to be far higher as the country's health infrastructure appears to be collapsing under the volume of new cases.Re-enforced lockdowns across the country have driven many Indian consumers to shift their spending online. Zomato, which serves around 70 million customers each month, saw its revenue grow 5.5 times between 2018 and 2020, after recording its highest-ever order value in history during the pandemic."The accelerated growth of our business stemming from the effects of the COVID-19 pandemic may not continue in the future," the company said in its prospectus.Zomato was founded as "Foodiebay" in 2008 by Deepinder Goyal and Pankaj Chaddah, the entrepreneurial alumni of the prestigious technical university IIT. <a href="https://www.businessinsider.in/business/startups/news/zomato-journey-from-a-weekend-project-to-a-3-billion-company/articleshow/76901180.cms">What began as a weekend project</a> for them grew into a well-known unicorn now present in 24 countries. At its last fundraising round in February, the company was valued at $5.4 billion. Both the US and the UK have also seen food-delivery companies capitalizing on the stay-at-home environment during the pandemic with <a href="https://markets.businessinsider.com/news/droof">Deliveroo</a>, <a href="https://markets.businessinsider.com/stocks/dash-stock">DoorDash</a>, and <a href="https://markets.businessinsider.com/stocks/grab-stock">Grab</a> all launching IPOs in the past six months.

Indian food-delivery startup Zomato files for a $1.1 billion IPO as the country battles a catastrophic wave of COVID-19 infections

<ul><li>Free cash flows put companies in a better position to weather the current market conditions.</li><li><keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> report shows 12 companies which are expected to give an FCF Yield of at least 5% by March 2021. The average FCF Yield stands at 7.8%.</li><li>Companies in the Utilities and Oil refining sectors are expected to offer the best yields at an average of 14.5% and 7.5% respectively.</li></ul>The Coronavirus crisis has destroyed economies and wiped out years of savings. In times like these, for both companies as well as individuals, cash in hand allows you to continue your operations and incur costs without having to borrow money which has its own cost (interest). “We think in the current challenging environment, markets are likely to reward companies that are generating high Free Cash Flows and thus could manage their debt (deleveraging) and other obligations, including dividend pay-outs,” notes Goldman Sachs in its latest report. What is Free Cash Flow? Free Cash Flow (FCF) is the cash that a company is able to generate after meeting its operational and fixed costs. When a company’s Free Cash Flow is positive, it means that it is able to generate more cash than what is required to run its business. When the Free Cash Flow is negative, it means that the company is spending more money than it is generating. In simpler words, if your monthly income is ₹10,000 but your expenses are only ₹6,000, your Free Cash Flow is ₹4,000. However, if your expenses exceed ₹10,000, then your Free Cash Flow is negative. What is FCF Yield? Free Cash Flow Yield measures the free cash flow per share with the market value per share. For example, if a company has Free Cash Flow of ₹50 per share and the market value per share is ₹500, then the FCF Yield is 10%. Generally – and especially in these times, higher the FCF Yield is, the better it is from an investor’s point of view. Goldman Sachs expects these 12 stocks to have a Free Cash Flow yield of over 5% by March 2021 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY21 FCF Yield </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY21 EPS Growth Estimate </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Last 1 Month Return </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">7.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">20.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15.00% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.98% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">7.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Not measured </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">7.67% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">26.55% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">11.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">8.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3.45% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">8.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">130.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-2.54% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">9.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-4.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-14.21% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">9.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-18.93% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro Infotech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">5.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-1.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.89% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Aurobindo Pharma </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">5.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">10.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">34.51% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">5.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.35% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.00% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-14.22% </td></tr></tbody></table> Source: FactSet, Goldman Sachs Global Investment Research, NSE See also: <a href="https://www.businessinsider.in/business/telecom/news/if-vodafone-idea-increases-tariff-it-will-help-airtel-and-reliance-jio/articleshow/74964136.cms">A new research report says Vodafone Idea has to increase tariff by 39% to survive – and that will be a bounty for Reliance Jio and Airtel</a> <a href="https://www.businessinsider.in/india/news/how-to-save-money-if-your-salary-is-reduced-during-the-coronavirus-crisis/articleshow/74968040.cms">How to save money if your salary is reduced during the Coronavirus crisis</a> <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought IndusInd shares after the stock price nearly doubled in 13 trading sessions</a> <a href="https://www.businessinsider.in/tech/enterprise/news/cisco-announces-2-5-billion-financing-programme-for-its-customers-and-partners/articleshow/75157885.cms">Cisco announces $2.5 billion financing programme for its customers and partners</a>

Goldman Sachs says buy these 12 Indian stocks who have enough cash flow to thrive despite the Covid-19 crash

Putting in place a tighter framework to curb high market volatility, <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword> on Friday announced revising market wide position limit for stocks in the derivatives segment, flexing dynamic price bands and other measures for one month starting from March 23. The slew of measures comes amidst sharp movement in stocks and continuing volatility in the wake of the coronavirus pandemic that has also adversely impacted economic activities. The measures would be effective from March 23 and would be in place for one month. Among other steps, revised positions limits would be applicable in equity index derivatives (F&amp;O) and there would be flexing in dynamic price bands in the F&amp;O (Futures &amp; Options) segment only after a cooling period of 15 minutes after fulfilling certain criteria, Sebi said in a statement. Taking note of the continued abnormally high volatility in the market, Sebi said it discussed with stock exchanges, clearing corporations and depositories appropriate measures that may be taken in the existing circumstances. "Sebi and stock exchanges will continuously monitor the market developments and review the position and take any further suitable actions as may be required," the watchdog said. In the four-page statement, Sebi said it would revise Market Wide Position Limit (MWPL) for stocks in the F&amp;O segment to 50 per cent of existing levels, subject to certain conditions. It would be in place in case the average daily price high-low variation percentage is more than or equal to 15 per cent, or if the average MWPL utilisation percentage is at least 40 per cent or more. This would be calculated on the basis of last five trading days. The revised MWPL would be only for introducing ban period on fresh positions and not for determining the enhanced eligibility criteria for derivatives stocks, Sebi said. End-of-day positions, as on the date of issuance of the circulars by the stock exchanges/clearing corporations in this regard, would not be impacted. In the event MWPL utilisation in a security crosses 95 per cent, then derivative contracts enter into a ban period. This means that trading members can trade in derivative contracts only to decrease their positions. "Any increase in open positions would attract appropriate penal and/or disciplinary action of the stock exchanges / clearing corporations," the statement said. Further, Sebi said stock exchanges and clearing corporations have to put in place an effective mechanism to monitor whether the market wide open interest for scrips meeting the criteria exceeds 95 per cent of the reduced MWPL. Stock exchanges and clearing corporations have been asked to check on intra-day basis whether any member or client has exceeded their existing positions or have created a new position in the scrips in the new ban period. "... the current penalty structure adopted by the stock exchanges / clearing corporations may be enhanced to 10 times of the minimum and 5 times of the maximum penalties specified by the stock exchanges / clearing corporations, to function as an effective deterrent in the current market context," Sebi said. An increase in margin would be allowed for stocks meeting certain criteria. The margin rate in cash market would be raised to a minimum of 40 per cent in a phased manner. The minimum 20 per cent level would be from March 23, 30 per cent from March 26 and 40 per cent from March 30. The proposed margins would be applicable only in cash market and derivatives contracts on the stocks concerned would continue to be charged margins as per the extant framework. Further, there would be an increase in margin for non-F&amp;O stocks in cash market. Mutual funds, FPIs, trading members (proprietary) and clients can have exposure in equity index derivatives on the basis of certain conditions. Short positions in index derivatives should not exceed, in terms of notional value, these entities' holding of stocks. When it comes to long positions in index derivatives, the same should not exceed their holding of cash, government securities, T-Bills and similar instruments, as per the statement. Also, there would be additional position limits for these entities. This would be Rs 500 crore each for equity index futures contracts and equity index options contracts. In case the limits are exceeded, then an additional deposit has to be paid by the entity concerned. "The existing positions as on the date of issuance of the circulars by the stock exchanges/ clearing corporations would not be impacted... however, if a fresh position is taken, then the entire positions (including the grandfathered positions) shall be subject to limits," Sebi noted. This framework would be in place for one-month starting from March 23 for institutions and trading members (proprietary). For others, it would be applicable from March 27. Currently, stocks in the F&amp;O segment are subject to dynamic price bands. As per the latest directive, those bands would be flexed only after a cooling-off period of 15 minutes from the time of meeting the existing criteria specified by stock exchanges for flexing, the statement said. RAM ABMABM

SEBI to place restrictions on Indian stock markets starting March 23 to curb Coronavirus volatility

<ul><li>The 30-share BSE <keyword id="1231603" type="PERSON" weightage="20" keywordseo="barometer">barometer</keyword> was trading 925.67 points or 3.10% higher at 30,819.63 </li><li>The NSE <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was quoting 270.05 points, or 3.09%, up at 9,018.80. </li><li>According to analysts, the slowing pace of fresh COVID-19 cases has also lent some momentum to global markets.</li></ul>Equity <keyword id="6355376" type="DEFINITION" weightage="20" keywordseo="Benchmark">benchmark</keyword> <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> soared over 900 points in opening trade on Thursday led by gains in financial, IT and FMCG stocks following rise global equities on hopes of the COVID-19 pandemic approaching its peak. After hitting a high of 30,847.10 at 9:55 am, the 30-share BSE barometer was trading 925.67 points or 3.10% higher at 30,819.63. Similarly, the NSE Nifty was quoting 270.05 points, or 3.09%, up at 9,018.80. HDFC was the top gainer in the Sensex pack, surging up to 5%, followed by Maruti, Bharti Airtel, Bajaj Finance, Tata Steel, Hero MotoCorp and ICICI Bank. On the other hand, HUL was the sole laggard. In the previous session, the BSE barometer closed 173.25 points or 0.58% lower at 29,893.96, and the Nifty settled 43.45 points, or 0.49%, down at 8,748.75. Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought equity shares worth Rs 1,943.41 crore on Wednesday, according to provisional exchange data. According to experts, hopes of another financial stimulus hope before the end of the lockdown period buoyed investor sentiment in early session. Global Cues Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets, the analyst said. On Wednesday (April 9), the Dow Jones Industrial Average jumped 779.71 points, or 3.44%, to 23,433.57. The S&amp;P 500 rose 90.57 points, or 3.41%, to 2,749.98. The Nasdaq Composite Index increased 203.64 points, or 2.58%, to 8,090.90. All the 11 primary S&amp;P 500 sectors ended higher, with real estate and energy up 7.41% and 6.74%, respectively, outperforming the rest. The market also found some support after US Democratic presidential candidate Bernie Sanders dropped out of the race Wednesday, paving the way for the party's only remaining candidate Joe Biden to become the Democratic nominee. The news boosted the market mood as Biden is viewed by Wall Street as a more market-friendly candidate than Sanders, according to analysts. Bourses in Shanghai, Hong Kong, and Seoul were trading on a positive note, while those in Tokyo were in the red. Benchmark exchanges on Wall Street ended significantly higher in overnight trade. Brent crude futures, the global oil benchmark, rose 1.55% to USD 33.34 per barrel. The death toll due to the novel <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> in India rose to 166 and the number of cases to 5,734, according to the Union Health Ministry. Global tally of the infections has crossed 14.8 lakh, with over 88,000 deaths. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Indian stock market indices rally over 3% amidst positive cues from global markets

The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> slumped over 1,000 points on Thursday breaking its 10 day gaining streak amid selloff across <keyword id="156526" type="PERSON" weightage="20" keywordseo="Global-stock-markets">global stock markets</keyword>. Heavy selling in banking and IT stocks weighed on the <keyword id="8739489" type="UNKNOWN" weightage="20" keywordseo="Domestic-indices">domestic indices</keyword>. Fading hopes of further stimulus in the US subdued the investor sentiments globally. Further resurgence of the novel <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> cases globally also impacted the stock markets. Sensex closed at 39,728.41, lower by 1,066.33 points or 2.61 per cent from its previous close of 40,794.74. It had opened at 41,048.05 and touched an intra-day high of 41,048.05 and a low of 39,667.47. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> closed at 11,680.35, lower by 290.70 points or 2.43 per cent from its previous close.

Indian stock market breaks its 10-day gaining streak as Sensex plummets over 1,000 points

<ul><li>Indian investors have lost nearly ₹5 lakh crore in the Indian stock market as it plummets under the aftershock of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> outbreak.</li><li>The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> is down by 1,248 points and the NSE Nifty 50 has plunged by 363 points.</li><li>Tata Motors, Tata Steel and Bajaj Finance are among the worst hit in the stock market. </li></ul>Investors have lost nearly ₹5 lakh crore as the Indian stock market nose-dived on fears of extending pandemic of Coronavirus, today (February 28). Most of the stocks on BSE Sensex are trading in the red and, overall, the market is down by 1,248 points. The impact of the coronavirus has investors scrambling to hit the sell button on some of the top stocks in the Indian economy. Making matters worse, the outbreak of the virus currently shows no signs of slowing down. <a href="https://www.businessinsider.com/world-prepares-for-coronavirus-pandemic-global-recession-forecast-2020-2?IR=T">Researchers now fear a</a> global recession as the pandemic spreads to Italy, Iran and more. It’s raining red in the NSE Nifty 50 as well as it plunged by 363 points. The individual sectoral indices were in the red as well with the Nifty Bank index falling by over 1,000 points. The Nifty Metal index is headed for its biggest weekly fall since October 2008, when the global financial crisis was at its peak. “From extreme calmness to extreme pessimism, D-Street is also the victim of the virus outbreak in other countries,” said Umesh Mehta, head of research from Samco Securities. “However, when the entire world is blaming the coronavirus for the fall, we feel that valuations have a big part to play in this bearishness,” he added. According to PTI, the volatile equity market wiped out ₹4.7 lakh crore worth of investor wealth and the total market capitalisation dropped to ₹148 lakh crore from ₹152 lakh crore at market closing on Thursday. Here’s a look at the biggest losers on the BSE Sensex today: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.84% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.52 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.39 </td></tr></tbody></table> Stocks like SBI Gold ETF, Gillette India, Hexaware Tech, Jubilant Industries and Baja Auto are concurrent losers having lost value consecutively over the last three days. The impact of the coronavirus on the Indian stock market is indicative of how the global market might be headed for turbulent waters as coronavirus continues to spread. The outbreak is already affected sectors associated with travel and tourism as travellers cancelled their flights to countries with reported infections. Moreso, global events like One Mobile Congress were cancelled and Facebook also cancelled its annual developers meet to be held in May. Shares of airlines companies have already taken a 10% plunge. Interglobe Aviation, IndiGo’s parent company, is down by 9.99% while SpiceJet fell by 6.06%. Rating agency ICRA notes that the outlook for airline stocks continues to look bleak in view of the outbreak. See also: <a href="https://www.businessinsider.in/business/corporates/news/sensex-sheds-1100-points-as-coronavirus-fear-grips-the-market-nifty-loses-335/articleshow/74372756.cms">Sensex sheds 1,100 points as coronavirus fear grips the market; Nifty loses 335</a> <a href="https://www.businessinsider.in/business/news/market-mayhem-continues-sensex-below-40k-level-as-virus-fears-grow/articleshow/74319579.cms">Market mayhem continues; Sensex below 40K level as virus fears grow</a>

Indian investors lose ₹5 lakh crore as the coronavirus sweeps over the stock market

<ul><li><keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> dropped another 1,800 points as markets opened today.</li><li><keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> is at 7,800 points and BSE opened below 27,000. A new three-year low for both.</li><li>All sectoral indices are in the red.</li></ul>Indian market continues to be in the red amid <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> fears. The Sensex has dropped another 2,000 points as markets opened today. Nifty is at 7,800 points. The last time it opened below 8100 points was on 26 December 2016. All sectoral indices are in the red as well. 
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 BSE Sensex opened below 27,000 and hit a three-year low as well. BSE mid-cap and small small-cap indices fell by over 5% each. 
 
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 After yesterday's high, <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> and Zee Entertainment are the top losers of the day so far. Yes Bank's stock has fallen by 22.66% and Zee Entertainment is down by 14.75%. The only stock that's safely in the green for now is Power Grip Corp. What’s next? Yesterday the Sensex plunged by more than 1,700 points and Nifty fell by 498 points. Nifty was hit the worst falling by 7.11%. Despite the Dow recouperating after the US government announced its plan for $1 trillion stimulus package to help the economy, it went back to its downward spiral last night falling by 1,338.46 points. Asian stocks as a whole remain volatile though the sentiment seems to be more positive after the European Central Bank’s latest promise of a stimulus. At home, this may improve tomorrow, March 20. The Reserve Bank of India (RBI) will purchase up to ₹10,000 crore of dated securities from the government via an open market operation (OMO. Yesterday, the apex banks stated that it will make the purchase through a multi-security auction using the multi price method. “It’s important to ensure that all market segments remain liquid, stable and function normally,” said the bank’s statement. The bigger concern is that global growth may shrink to 1% in 2020, according to The Economist Intelligence Unit (EIU). Their report suggests that four major economies — Japan, Italy, Germany and France — are likely to experience a full year recession. “This is the lowest rate in global growth since the global financial crisis,” said the study.

Nifty hits a new three-year low as Sensex drops another 1,800 points

<ul class="summary-list"><li>Shares of <keyword id="10479975" type="UNKNOWN" weightage="60" keywordseo="Ocugen">Ocugen</keyword> jumped 27% on Monday after the company announced positive news related to its COVID-19 vaccine.</li><li>The company said Covaxin has shown signs of potential effectiveness against three variants of the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>.</li><li>Covaxin is India's COVID-19 vaccine, which Ocugen is codeveloping for the US market.</li></ul>Shares of Ocugen jumped 27% to a near two-month high on Monday after the biopharmaceutical company announced that its COVID-19 vaccine has shown signs of potential effectiveness against three variants of the virus.Covaxin, co-developed with Indian firm Bharat Biotech, demonstrated potential effectiveness against the variant of SARS-CoV-2 first discovered in Brazil.A previous study conducted also suggested that Covaxin was effective against variants first seen in the UK and India, suggesting the vaccine's effectivity against multiple strains of COVID-19. The company has submitted a comprehensive drug master file with the US Food and Drug Administration and is preparing the vaccine's emergency use authorization application, according to Dr. Shankar Musunuri, CEO and co-founder of Ocugen.Currently, there are only <a href="https://www.cdc.gov/coronavirus/2019-ncov/vaccines/different-vaccines.html">three authorized and recommended vaccines</a> in the US to prevent COVID-19, from Pfizer-BioNTech, Moderna, and Johnson &amp; Johnson.In the recently shared second interim results of the phase 3 clinical trial, Covaxin demonstrated 78% overall efficacy and 100% in severe COVID-19 disease - including hospitalization.

Ocugen jumps 27% after its COVID-19 vaccine shows potential effectiveness against virus variants

<ul><li><keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> downgraded <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> stock but the stock was already down 10 days in a row.</li><li>While the fall in crude oil prices will make it cheaper to manufacture paints, people may delay purchases as home renovation is not going to be a priority. </li><li>The report projected a nearly 30% fall in share price in the next one for India’s largest paints maker.</li></ul>The cost of making paints is getting cheaper, thanks to the fall in crude oil prices but that is not going to get people excited enough to do up their homes. Asian Paints, the Indian multinational paint company, has been downgraded by Goldman Sachs. With the coronavirus pandemic, home renovation is not going to be on people’s minds anytime soon resulting in a subdued demand for Asian Paints. The target price for Asian Paints set by Goldman Sachs is ₹1,111, that would mean the stock has to fall nearly 30% compared to Monday’s closing price. The share price for Asian paints was down by 2.91% after the Goldman Sachs downgrade, accounting for its 11th straight day of fall in share prices. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2357792" data-url="https://flo.uri.sh/visualisation/2357792/embed"></div>]]></cdata></div> The stock of Asian Paints has also been hammered by <a href="https://economictimes.indiatimes.com/markets/stocks/news/reliance-industries-to-sell-its-asian-paints-stake-worth-rs-7000-cr-via-block-deal-sources/videoshow/75609494.cms">reports</a> that Reliance Industries is looking to sell its 4.9% stake in the company for $989 million. But the continued lockdown due to the coronavirus pandemic and people’s distrust in letting others into their homes, will hit Asian Paints sales. “We see signiﬁcant risks to sales growth as we expect consumers to down-trade and extend the repainting cycle given the macroeconomic slowdown,” said the Goldman Sachs report. This is how the estimates have changed since the start of the year. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic decorative volume growth in Jan 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic decorative volume growth in May 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 Estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 Estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr></tbody></table> The fall in crude oil had worked in favour of Asian Paints, with its share price on April 22 recording a 5% jump. Crude oil is one of the biggest cost elements, nearly 30-35%, in the making of paints. But the benefits from the pullback in input costs will be adjusted by the company as it hopes to drive volume growth, said Goldman Sachs. The investment firm however left a leeway of hope “However, if crude oil prices were to stay lower for longer, we see upside risks to our estimates that could make us turn more positive on the shares,” said the report. See Also: <a href="https://www.businessinsider.in/business/news/indigo-share-price-jump-after-airline-denies-interest-in-virgin-australia/articleshow/75688856.cms">IndiGo shares take off after airline denies interest in Virgin Australia</a> <a href="https://www.businessinsider.in/careers/news/jobs-at-whitehat-jr-edtech-startup-profile-experience-salary-and-other-details/articleshow/75687582.cms">This edtech startup is looking to hire 1,500 teachers and 400 other staff immediately⁠— CEO says the business is doubling every month</a>

Asian Paints’ shareholders had a fear that Goldman Sachs just confirmed— Indians will not rush to do up their homes

<ul><li>The <keyword id="95879" type="ORGANIZATION" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII) hopes the Oxford COVID-19 vaccine will be available in Indian markets by the end of the year. </li><li>Last month, SII signed a deal with AstraZeneca to exclusively manufacture the Oxford vaccine for India.</li><li>SII CEO Adar Poonawalla told The Tribune that the vaccine is currently in Phase II of clinical trials. </li></ul>The Oxford COVID-19 vaccine, which is reportedly safe for people with weak immunity, may be available in the market by the end of the year, according to the Serum Institute of India (SII) — the world’s largest vaccine manufacturer. SII CEO Adar Poonawalla told <a href="https://www.tribuneindia.com/news/nation/oxford-vaccine-by-yr-end-partner-firm-107843">The Tribune</a> that clinical trials of the vaccine being developed by the University of Oxford — called AstraZeneca — have progressed to Phase III. “I hope that AstraZeneca Oxford vaccine will be available towards the end of the year,” he said based on the results highlighting that more than a 100 vaccine candidates are currently at different stages of clinical trials. Last month, on June 13, SII signed the deal with AstraZeneca to exclusively manufacture for India and countries in the Gavi Vaccine Alliance. SII will supply one billion doses for low and middle-income countries, with a commitment to provide <a href="https://www.astrazeneca.com/media-centre/press-releases/2020/astrazeneca-takes-next-steps-towards-broad-and-equitable-access-to-oxford-universitys-covid-19-vaccine.html">400 million doses</a> before the end of 2020. Safe for people with weak immunity Professor Saraf Gilbert from Oxford University’s Nuffield Department of Medicine recently <a href="https://www.businessinsider.in/india/news/oxford-covid-19-vaccine-safe-for-people-with-weak-immunity/articleshow/76728237.cms">told ambassadors of UN member states</a> that the vaccine is safe even for people with a weak immune system. “Because it is still a live virus, it is good at inducing a strong immune response after vaccination,” she said. According to AstraZeneca, the vaccine may not work but the company is progressing the clinical programme with speed and scaling up manufacturing despite the risk. 5,000 volunteers have begun participating in Brazil’s first clinical trials of the Oxford vaccine. “We plan to start production in nearly two months and have invested more than $100 on this facility,” Poonawalla told the Tribune. If the risk pays off, Poonawalla promises the vaccine will be affordable. SEE ALSO: <a href="https://www.businessinsider.in/india/news/an-indian-covid-19-vaccine-made-by-bharat-biotech-is-set-to-enter-human-trials/articleshow/76702286.cms">An Indian COVID-19 vaccine made by Bharat Biotech is set to enter human trials</a> <a href="https://www.businessinsider.in/india/news/oxford-covid-19-vaccine-safe-for-people-with-weak-immunity/articleshow/76728237.cms">Oxford COVID-19 vaccine safe for people with weak immunity says Oxford Professor Sarah Gilbert</a> <a href="https://www.businessinsider.in/india/news/potential-covid-19-vaccine-by-zydus-cadila-gets-dcgi-nod-for-human-clinical-trials/articleshow/76762771.cms">Potential COVID-19 vaccine by Zydus Cadila gets DCGI nod for human clinical trials</a>

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