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Experts see these 9 stocks to benefit the most from RBI measures to support economy

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Overall, they feel the steps taken by the central bank will be a relief to the financial system.

Policy measures announced by the Reserve Bank of India (RBI) on Wednesday will be a shot in the arm for the economy as well as companies in the Micro, Medium, and Small Enterprises (MSMEs), financial, and healthcare space.

RBI Governor Shaktikanta Das announced a set of fiscal measures to tide over the second wave of COVID-19 cases.

The market reversed losses and closed with handsome gains, despite a rise in COVID cases across the country. RBI’s relief measures came well in time when the second wave of COVID-19 is gripping the country.

Experts spoke to are of the view that stocks from small finance banks (SFBs), housing finance banks (HFCs), medical equipment manufacturers, healthcare, banks, NBFCs, and hospital sectors are likely to benefit the most from the measures announced.

Das announced the second tranche of buying of government securities (G-Secs) under the Government Securities Acquisition Programme (G-SAP) 1.0 to be conducted on May 20, 2021.

“The announcement of the second tranche of bond buying to the tune of Rs 350 billion is likely to further soften bond yields. Overall, the RBI measures certainly bode well for banks and NBFCs,”

On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022. This will bode well for the health infrastructure space.

Das opened an on-tap liquidity window of Rs 50,000 crore with a tenor of up to three years at a repo rate.

“The inclusion of Micro Finance Institutions (MFIs), with an asset base of up to Rs 500 crore in SFBs’ lending radar with new funds will help the weaker sections of the industry to cope up with COVID resurgence,” Mohit Nigam, Head, PMS, Hem Securities, told 

“These measures will somehow provide a cushion for the financial system, which lends to small hands, and, hence, restrict any severe impact to the system. SFBs, HFBs, medical equipment manufacturers, healthcare, and hospitals are some of the sectors which shall benefit the most out of today's relief measures,” he said.

The restructuring resolution for borrowers for up to Rs 25 crore received a thumbs up.

The RBI announced fresh restructuring resolutions for individuals, small businesses, and MSME borrowers who have an aggregate exposure of up to Rs 25 crore.

“RBI has largely addressed the need of small borrowers, individuals as well as businesses, and MSMEs that have been among the worst affected in the second resurgence of

COVID,” Naveen Kulkarni, Chief Investment Officer, Axis Securities, Besides liquidity measures, easing lending to the above strata by extension of restructuring resolutions, and boosting medical infrastructure through PSL recognition will help bring in relief in the financial ecosystem,” he said.

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COVID-19 Second Wave impact: Hiring activity declines 15%, says Naukri JobSpeak

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The current impact on the job market is, however, less severe than what was witnessed in April 2020; hospitality and travel worst hit

Representative Image

The Second Wave of COVID-19 and allied lockdown-like restrictions have impacted employment across the country. According to the Naukri JobSpeak Index, there was a 15 percent dip in hiring activity sequentially for April 2021.

The report, however, said that the current impact on the job market is less severe than what was seen in April 2020.

Among sectors, the report said that retail saw a sequential decline of 33 percent in April 2021 due to restricted operating hours or closure owing to lockdowns in many parts of the country.

Sectors such as hospitality and travel (-36 percent), banking/finance (-26 percent) and teaching/education (-24 percent) remained highly impacted in hiring activity in April 2021.

Said Pawan Goyal, Chief Business Officer, Naukri: "The disruption caused by the Second Wave of COVID-19 has impacted hiring activity. However, the current impact on the job market is less severe than what we saw in April 2020 where the Naukri JobSpeak index declined by 51 percent sequentially."

Sectors like pharmaceuticals/biotech (decline of 9 percent) and medical/healthcare (decline of 10 percent) were less impacted by the restrictions imposed.

City-wise decline

The jobs market across metro and non-metro cities saw a downfall, barring Kolkata that remained flat.

The aggressive surge of cases in Maharashtra directly impacted hiring trends in Mumbai, which saw a sequential decline of 20 percent in April 2021.

While Delhi/National Capital Region (NCR) (-18 percent) also remained impacted sequentially, Bangalore (-10 percent), Chennai (-10 percent), and Hyderabad (-4 percent) were less impacted in April 2021.

The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri.com website month-on-month (m-o-m).

The job speaks index includes employment that might be for replacement hiring. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008.

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TV prices set to rise again as govt considering customs duty hike on open-cell panels

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The government wants to incentivize local manufacturing by increasing customs duty. The plan is to increase the duty by up to 12 percent in three years from the current 5 percent. In Sept 2019, the CBIC had said there will be no hike in customs duty if manufacturers develop domestic capacity

Open-cell panels are used in manufacturing television screens and are imported from China. The plan is to increase the import duty gradually to 10-12 percent over the next three years, The customs duty currently is 5 percent.

In September 2019, after requests from television makers, the Central Board of Indirect Taxes and Customs (CBIC) announced that there would not be any customs duty on open-cell panels, provided manufacturers develop domestic manufacturing capacities in a year’s time.

TV manufacturers have been unable to set up local manufacturing capacities for panels so far. The Coronavirus outbreak and subsequent lockdown also hampered their plans.

“It will be a gradual increase every year. The idea is to nudge TV brands to manufacture these components locally. They have been given time since 2019 to build local capacities," said an official.

This will be the third time in a row in 2021 that the prices of TV sets will go up. Considering the increase in panel prices, TV prices went up in January and April.

 had reported earlier about the rise in prices of television sets by 10-30 percent from April 1 as all the Chinese panel manufacturers hiked their rates.

"We had requested the government to have zero duty for open-cell panels but their mandate is that the ‘make-in-India’ initiative must get a fillip. This sentiment is valid but there should also be financial incentives provided," said the vice president-India at a global white goods firm.

Over and above the customs duty, there is the Goods and Services Tax (GST). TV sets up to 32 inches are levied 18 percent GST while those above 32 inches attract the maximum of 28 percent.

Prices of TV sets most volatile

Since the Coronavirus outbreak, prices have seen an increase almost every quarter. Initially, the price rise was on account of a manufacturing shutdown in China, but it continued even after the demand-supply situation stabilized.

All TV makers in India import open-cell panels from markets like China. Despite requests from manufacturers to extend a zero-customs-duty regime, the government decided to impose a 5 percent customs duty.

Large television brands in India include Samsung, LG, Sony, Thomson, Kodak, Vu, Mi, and OnePlus.

When the COVID-19 outbreak was first reported in Wuhan, China, in the last week of December 2019, TV makers were the most worried. Since China supplies panels which are the key components to manufacture televisions, there were fears of raw material shortage.

Their worst fears came true in January 2020, when production came to a standstill across manufacturing hubs in China. This led to an acute shortage of components like panels, leading to a price increase of 10 percent in February 2020 itself.

“The last two years (2020 and 2021) have been the worst for the TV industry in India. There should be temporary relief at least till the COVID-19 situation normalizes," said Akhilesh Tripathy, a Mumbai-based electronics dealer Vipul Electronics.

The industry has sought either an immediate slashing of GST rate or removal of duties on open-cell panels for the next two years.

As the year progressed, India also imposed a lockdown from March 25, halting production activity across the country. On the one hand, there was a component shortage, while, on the other, there was a scarcity of TV sets as well.

Amidst manufacturing slowly crawling back to normal from June onwards, a July 30 notification by the Directorate General of Foreign Trade (DGFT) placed the import of color television sets of all sizes in the restricted category. High-end TV sets that are 80 inches and above are typically imported from other markets.

During the same time, anti-China sentiments stayed strong with the India-China clash in Galway Valley leading to the death of 20 Indian soldiers. Components and finished goods from China were under thorough scrutiny since then, leading to production delays in India. Another shocker came in September in the form of rising in TV panel prices, ahead of the Diwali sales season. This led to an almost 25 percent price increase.

This was quickly followed by the re-imposition of the 5 percent customs duty on open cells from October 1 onwards. Meanwhile, the rise in panel prices continued and prices of TV sets also continued moving northward.

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What should investors do with RIL post Q4 earnings; buy, sell or hold?

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RIL reported a consolidated net profit of Rs 13,227 crore for the quarter ended March 2021, up 108.4 percent from the year-ago period amid significant growth in Jio and recovery in retail segments. The company has also announced a dividend of Rs 7 per share.


 Reliance Industries (RIL) share price fell more than 2 percent in the early trade on May 3 even after the oil-to-telecom major on April 30 reported a consolidated net profit of Rs 13,227 crore for the quarter ended March 2021 (Q4FY21), up 108.4 percent year-on-year amid significant growth in Jio and recovery in retail segments.

Consolidated revenue from operations stood at Rs 1,54,896 crore, up 11 percent YoY, while the sequential increase in topline was at 24.9 percent.

The oil-to-chemical (O2C) business revenue grew by 20.6 percent sequentially to Rs 1,01,080 crore.

Jio Platforms recorded a 47.5 percent year-on-year (half a percent QoQ) growth in consolidated profit at Rs 3,508 crore and Reliance Retail's net profit for the quarter was Rs 2,247 crore, up 45 percent YoY and 23 percent QoQ.

The company also announced a dividend of Rs 7 per share.

Also Read:- M-cap of seven of top-10 most-valued companies jumps a whopping over Rs 1.62 lakh crore

Here is what brokerages have to say about the stock and company after the March earnings:

Sharekhan | Rating: Buy | Target: Rs 2,400

We maintain our FY2022-FY2023 earnings estimates as we expect strong earnings recovery led by higher downstream margins (especially petrochemical side) and sustained strong performance by consumer-centric business (retail and Jio led by the ramp-up of new revenue streams - home and enterprise broadband, and expansion of new commerce initiative).

Overall, we expect RIL’s PAT to clock a strong 30 percent CAGR over FY2021-FY2023E. Potential carving out of the O2C segment as a separate wholly-owned subsidiary (NCLT approval expected by Q2FY2022) is a key near-term catalyst for RIL. The move will facilitate strategic partnership with global players and drive value unlocking for RIL.

Prabhudas Lilladher | Rating: Buy | Target: Rs 2,256

We increase our FY22/23E EBIDTA estimates by around 3 percent to factor in faster E&P volume ramp up but higher depreciation and other minor changes lead to EPS cut of 2 percent and 6 percent, respectively. Recovering global economy aided by expanding vaccination coverage will help drive demand (albeit near-term challenges in domestic market) and augur well for RIL’s all business segments.

With stated intention to monetise and forge global partnership across businesses, RIL is well positioned to incubate new business and pursue inorganic opportunities, given its liquid balance sheet. We believe positive news flow on global partnerships or stake sale will likely keep valuations at an elevated level.

Motilal Oswal | Rating: Buy | Target: Rs 2,195

Using SOTP, we value the O2C business at FY23E EV/EBITDA of 7.5x, arriving at a valuation of Rs 713 a share for the standalone business and add Rs 61 for the E&P assets.

We ascribe an equity valuation of a) Rs 755 a share to RJio on FY23E 18x EV/EBITDA and b) Rs 670 a share to Reliance Retail on FY23E 31x EV/EBITDA, factoring in the recent stake sale.

Morgan Stanley | Rating: Overweight | Target: Rs 2,262

The multi-year upcycle in refining and petrochemicals will raise investor confidence. The recovery in telecom nets adds and a rise in gas production will raise investor confidence.

The FY20-23 earnings CAGR seen at 23 percent, while asset monetization and e-commerce ramp-up should also drive outperformance.

Credit Suisse | Rating: Neutral | Target: Rs 1,930

There was a strong rebound in retail, O2C, and Jio EBITDA now fully reflects price increase benefit outlook. However, weak retail in Q1FY22 as footfalls are 35 percent of pre-COVID.

Jio EBITDA growth will depend on subscriber addition till further price hikes. Lift FY22/FY23 EPS estimate by 3 percent to build in strong O2C spread.

Nomura | Rating: Buy | Target: Rs 2,400

The Q4 was good operationally, with the key beat on retail. On the energy front, the O2C earnings recover further, while Jio was largely in line, with higher net adds offsetting lower ARPU. However, there was a better-than-expected recovery in retail.

Jefferies | Rating: Buy | Target: Rs 2,580

The Q4 EBITDA rose 7 percent YoY, driven by Jio and retail. Jio's 3x sequential jump in net subscriber additions and positive FY21 were the key highlights.

The net debt was flat QoQ and Jio turning FCF positive lowers our FY22 net debt estimate. Cut FY22 EPS estimate by 2 percent but kept FY23 broadly unchanged.

Macquarie | Rating: Underperform | Target: Rs 1,350

O2C margin and Jio subs additions were the better things from the results, while Jio ARPU compression was a miss. The consensus now estimates core EPS to rise 50 percent by FY23 versus our forecast of 10 percent.

At 0920 hours, Reliance Industries was quoting at Rs 1,957.20, down Rs 37.25, or 1.87 percent, on the BSE. The share touched a 52-week high of Rs 2,368.80 on September 16, 2020, and a 52-week low of Rs 1,393.65 on May 20, 2020. It is trading 17.38 percent below its 52-week high and 40.44 percent above its 52-week low.

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M-cap of seven of top-10 most-valued companies jumps a whopping over Rs 1.62 lakh crore

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While Reliance Industries, Infosys, Hindustan Unilever Limited, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, and State Bank of India emerged as gainers, Tata Consultancy Services, HDFC Bank, and HDFC took losses in their market capitalization (m-cap).

Seven of the top-10 most-valued companies together added a whopping Rs 1,62,774.49 crore in market valuation last week, with major contributions coming in from Reliance Industries Ltd and Bajaj Finance.

Last week, the 30-share BSE benchmark gained 903.91 points or 1.88 percent.

While Reliance Industries, Infosys, Hindustan Unilever Limited, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, and State Bank of India emerged as gainers, Tata Consultancy Services, HDFC Bank, and HDFC took losses in their market capitalization (m-cap).

The valuation of RIL jumped Rs 57,086.67 crore to reach Rs 12,64,369.99 crore.

Bajaj Finance''s market capitalisation zoomed Rs 47,526.08 crore to Rs 3,28,639.08 crore.

ICICI Bank added Rs 21,033.34 crore taking its valuation to Rs 4,15,348.35 crore and State Bank of India witnessed a rally of Rs 15,171.83 crore to reach the market capitalization of Rs 3,15,440.39 crore.

The market capitalization of Hindustan Unilever gained Rs 10,761.02 crore to Rs 5,53,053.02 crore and that of Infosys went higher by Rs 8,559.71 crore to Rs 5,76,867.96 crore.

Kotak Mahindra Bank added Rs 2,635.84 crore to Rs 3,46,543.78 crore in its valuation.

In contrast, the valuation of Tata Consultancy Services declined by Rs 26,411.23 crore to Rs 11,23,919.77 crore.

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HDFC''s valuation dipped Rs 13,917.44 crore to Rs 4,36,582.10 crore and that of HDFC Bank eroded by Rs 821.01 crore to Rs 7,78,850.97 crore.

The top-10 most-valued companies'' list had Reliance Industries at the lead followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance Limited, and State Bank of India.

Movers & Shakers | Top 10 stocks that moved the most last week

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On the sectoral front, the Nifty metal index rose 9 percent, the Nifty PSU bank index rose 4.5 percent and the Nifty infra index added 3 percent. The Sensex and the Nifty ended the week 2 percent higher.

Indian benchmark indices ended with 2 percent gain in the week ended April 30 especially on the back decent earnings performance from the Indian Inc. Last week, BSE Sensex added 903.91 points, or 1.88 percent, to close at 48,782.36 and while the Nifty50 rose 289.75 points, or 2 percent, to end at 14,631.1 levels.

Benchmark indices ended 2 percent higher in the week ended April 30 on the back of decent earnings performance from the Indian Inc. The BSE Sensex added 903.91 points, or 1.88 percent, to close at 48,782.36 and while the Nifty50 rose 289.75 points, or 2 percent, to end at 14,631.1 levels.

Britannia Industries | Britannia Industries' share price shed more than 5 percent as the company reported a 3.3 percent fall in the consolidated profit at Rs 360.1 crore compared to Rs 372.3 crore. Consolidated revenue from operations grew by 9.2 percent year-on-year to Rs 3,130.7 crore in Q4FY21.

HDFC Life Insurance Company | The share price fell 3 percent despite the company posting a 2.3 percent year-on-year (YoY) rise in its March quarter consolidated net profit at Rs 319.06 crore. During the quarter, the life insurer collected new premiums of Rs 434.47 crore as against Rs 298.40 crore in the year-ago period. HDFC Life sold about 9.8 lakh new individual policies in the quarter, registering a YoY growth of 10 percent in FY21.

Bajaj Finance | The share rose 17 percent after the company reported a 42 percent YoY increase in the March quarter profit at Rs 1,347 crore versus Rs 948.1 crore. Gross NPA declined to 1.79 percent and net NPA also dropped to 0.75 percent. The board has recommended a dividend of Rs 10 per equity share of the face value of Rs 2 for FY21.

Bajaj Finserv | Bajaj Finserv share price added 11 percent after it reported a five-fold jump in the March quarter consolidated profit at Rs 979 crore against Rs 194 crore in the same quarter last year. The company reported a 15.7 percent growth in the topline at Rs 15,387 crore.

IndusInd Bank | The share price rose 9 percent as the private lender reported a 190.2 percent year-on-year (YoY) spike in its standalone net profit at Rs 875.95 crore for the quarter ended March 2021. Net interest income (NII) grew by 9.4 percent to Rs 3,534.61 crore for the quarter against Rs 3,231.19 crore.

Axis Bank | The share price rose 6 percent after the private sector lender posted a net profit of Rs 2,677 crore for the quarter ended March 2021 against a loss of Rs 1,387.8 crore in the year-ago period. Net interest income grew 11 percent to Rs 7,555 crore in Q4FY21 compared to Rs 6,807.7 crore in Q4FY20. Its deposits grew by 10 percent. The gross non-performing assets increased to 3.70 percent and net NPA climbed to 1.05 percent.

ICICI Bank | ICICI Bank share price added 5 percent as private sector lender clocked a 260.5 percent year-on-year (YoY) growth in standalone profit at Rs 4,402.61 crore for the quarter ended March 2021. Net interest income grew by 16.9 percent to Rs 10,431.13 crore in Q4FY21 compared to Rs 8,926.9 crore in the year-ago period.

TVS Motor Company | The share price surged 18 percent after the company reported around a four-fold jump in its consolidated net profit at Rs 319.19 crore for the fourth quarter ended March 31, 2021. Revenue from operations rose to Rs 6,131.90 crore from Rs 4,104.71 crore.

Mastek | The share price jumped 19 percent after the company posted a 94.4 percent YoY jump in its fourth-quarter net profit at Rs 75.7 crore against Rs 38.9 crore, while revenue rose 43.5 percent at Rs 483.2 crore against Rs 336.7 crore.

Snowman Logistics | The share price shed 8 percent after the company posted a loss of Rs 0.42 crore in Q4 against a profit of Rs 1.42 crore, while revenue was up at Rs 64.11 crore as against Rs 60.17 crores, QoQ.

GST revenue collection for April hits new record high of Rs 1,41,384 crore

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Out of this Rs 1,41,384 crore, CGST is Rs 27,837 crore, SGST is Rs 35,621 and IGST is Rs 68,481 crore, as per the press note released by the government.


The gross Goods and Services Tax  (GST) revenue collected in the month of April 2021 was at a record high of Rs 1,41,384 crore, of which CGST is Rs 27,837 crore, SGST is Rs 35,621,IGST is Rs 68,481 crore, as per the press note released by the government.
Collections in April 2021 have surpassed even those of March.

"In line with the trend of recovery in the GST revenues over past six months, the revenues for the month of April 2021 are 14 percent higher than the GST revenues in the last month of March’2021," the note read.

During this month, the revenues from domestic transactions including import of services were up 21 percent than the revenue from these sources last month.

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India's forex reserves rise $1.701 billion to $584.107 billion

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In the reporting week ended April 23, 2021, the rise in reserves was on account of an increase in foreign currency assets (FCAs), a major component of the overall reserves.



The country's foreign exchange reserves increased by $1.701 billion to $584.107 billion in the week ended April 23, 2021, RBI data showed

In the previous week ended April 16, 2021, the reserves had risen by $1.193 billion to $582.406 billion. The reserves had touched a lifetime high of $590.185 billion in the week ended January 29, 2021.

In the reporting week ended April 23, 2021, the rise in reserves was on account of an increase in foreign currency assets (FCAs), a major component of the overall reserves.

FCA rose by $1.062 billion to $541.647 billion, the Reserve Bank of India's (RBI) weekly data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

Gold reserves increased by $615 million to $35.969 billion in the reporting week, according to the RBI data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) were up by $7 million to $1.505 billion in the reporting week.

The country's reserve position with the IMF rose by $18 million to $4.987 billion in the reporting week, the data showed.

Share Market Closing Note

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Sensex plummets 984 points on bank selloff, weak global cues; Nifty snaps 4-day winning run, ends at 14,631; HDFC twins tank 4% each

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Topic :- Time:3.00 PM

RELIANCE Result and Election outcome are due. So traders are advised to avoid open short positions for the next trading session and use this fall as an opportunity to go long in the market.

Nifty spot if holds above 14640 on closing basis then expect some pullback in the market in coming sessions and if it closes below above-mentioned level then some sluggish movement is further expected.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4770. If it breaks and trades below the 4765 levels then expect some further decline in it and if it manages to trade and sustain above the 4785 levels then some pullback can be seen in it.

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Topic :- Time:2.10 PM

Nifty slides from its higher level. Nifty spot if breaks and trade below 14680 level then expect some further decline in the market and if it manages to trade and sustain above 14720 levels then some upmove can be seen in the market.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 46744. If it manages to trade and sustain above 46820 levels then some upmove can be seen in it and if it holds below the above-mentioned level then some bearish trend is expected in this bullion.

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Topic :- Time:1.20 PM

Nifty is declining from higher levels. Nifty spot if breaks and trade below 14740 level then some decline can be seen in the market and if it manages to trade and sustain above 14800 levels then some upmove can follow in the market.

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Topic :- Time:12.50 PM

Just In:

Ambuja Cements reports standalone profit at Rs 665 crore.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 757.80. If it manages to trade and sustain above 758 level then some upmove can be seen and if it breaks and trades below 756 level then some decline can be seen in it.

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Topic :- Time:12.10 PM

Nifty is rangebound. Wait for movement before taking big positions. 


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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex drops 400 pts; metal, IT stocks outperform

2. Wipro share price hits 52-week high on revised Q1 FY22 growth guidance

3. Coronavirus India NewsUpdates: India sees record high of 3.86 lakh new cases, 3,498 deaths

4. Auto firms to halt production for up to 15 days amid a raging second wave

5. New Sebi norms on compensation: Mutual fund houses fear losing talent

6. Sebi gives India Inc more time to report earnings amid second Covid-19 wave

7. Info Edges early investment in Zomato set to deliver sweet returns

8. RIL to announce Q4 numbers today: Revenue expected to grow in double digits

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Topic :- Time:11.00 AM

Nifty is quite rangebound. Nifty spot if manages to trade and sustain above 14780 levels then some decline can be seen in the market and if it manages to trade and sustain above 14820 levels then some upmove can follow however 14850 levels will act as immediate resistance for it.

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Topic :- Time:10.10 AM

After a negative opening nifty is showing some recovery however it is trading in red zone only. Nifty spot if breaks and trade below 14780 level then expect some further decline in the market and if it manages to trade and sustain above 14820 level then some pullback can follow.

Results Today:

ATUL, CanFin Home, Indian Hotel, IndusInd Bank, Marico, Reliance Ind, Trent, Yes Bank

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Topic:- Nifty Opening Bell

Indian Stock Market Trading View For 30 April 2021:

Geopolitical development will have an impact on the market along with global cues. Good stock-specific action is expected in the Indian share market.

April F&O series is over and now it's time for May Series. Nifty spot if manages to trade and sustain above 14950 levels then expect some quick up move in the market and if it breaks and trade below 14840 levels then some decline can be observed in the Nifty. Please note this is just an opening view and should not be considered as the view for the whole day. 

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Insurers will now have to authorise COVID-19 cashless claims within 60 minutes

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A Delhi High Court order dated April 28 directed IRDAI to advise insurers to communicate their cashless approvals to hospitals within 30-60 minutes.

Representative image: By sfam_photo via Shutterstock

Insurers will now have to approve cashless claims related to COVID-19 hospitalization within 60 minutes of receipt of required documents.

Insurance regulator IRDAI has directed insurers to inform hospitals about the authorization of cashless claims within one hour for COVID-19 cases. At present, insurers can take up to two hours to make a decision.

This decision has been taken after a Delhi High Court order directed the Insurance Regulatory and Development Authority of India (IRDAI) to ensure insurers make cashless decisions quickly.

A Delhi High Court order dated April 28 directed IRDAI to advise insurers to communicate their cashless approvals to hospitals within 30-60 minutes. This was to ensure that there is no delay in the discharge of patients and hospital beds do not remain unoccupied.

Cashless treatment refers to a feature in medical insurance policies where the customer is not required to pay any cash, and the bills are directly settled between the hospital and the insurer.

Decision on the final discharge of patients covered in COVID-19 claims also be communicated to the hospital within one hour of the receipt of the final bill.

 had reported earlier that finance minister Nirmala Sitharaman has asked the Insurance Regulatory and Development Authority of India (IRDAI) to direct companies to prioritize COVID-19 claims.

Sitharaman had also said reports about some hospitals denying cashless insurance are being received.

As of April 20, there were 900,000 COVID-19 health claims worth Rs 8,642 crore settled by insurance companies. General insurers have received health insurance claims pertaining to Coronavirus treatment worth close to Rs 15,000 crore, according to the General Insurance Council data.

There has been a constant tussle between hospitals and insurers on COVID-19 hospitalization rates.

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Insurers rue that hospitals are not following the standard rates car issued in June 2020 by the General Insurance Council. Hospitals, on the other hand, have said all patients cannot be put under capped rates.

The government has capped rates for COVID-19 treatment in hospitals. But not all hospitals are following these rates and insurers want the pre-agreed terms to be followed.

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