Markets trade flat, IT and select Autos see gains

Reports indicate that price negotiations for importing Russian vaccine Sputnik V have begun. Hyderabad based Dr Reddy's Lab (DRL) has already formulated a tie-up w

Reports indicate that price negotiations for importing Russian vaccine Sputnik V have begun. Hyderabad based Dr Reddy's&nbsp;Lab (DRL) has already formulated a tie-up with Russian Direct Investment Fund to import the vaccine once regulatory approvals are through.&nbsp;
Current rate of procurement for Covishield&nbsp;and Covaxin&nbsp;is at Rs 150/dose for the Indian government.&nbsp; DRL&nbsp;and Sputnik V backer&nbsp;RDIF&nbsp;have agreed upon 100 million doses for import into India.&nbsp; &nbsp;&nbsp;

The Indian startup ecosystem is on a roll as we get two more names adding to the list of unicorns this week. Sharechat owner Mohalla tech and messaging p

The Indian startup&nbsp;ecosystem is on a roll as we get two more names adding to the list of unicorns.&nbsp;Sharechat&nbsp;owner Mohalla&nbsp;tech and messaging platform Gupshup&nbsp;crossed the $1-billion-valuation-mark after the latest round of funding.
Mohalla Tech&nbsp;raised $502 million in a funding round led by Lightspeed Ventures and Tiger Global, pushing the startup&rsquo;s valuation to $2.1 billion.&nbsp;Gupshup&nbsp;achieved the coveted label after raising $100 million from Tiger Global, increasing its valuation ten-fold to $1.4 billion.
10 companies have crossed&nbsp;the $1-billion valuation mark this year. Six of them have turned unicorns in just one week.&nbsp;
&nbsp;
&nbsp;

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of 8.23 billion yuan ($2.78 billion) for for abusing market dominant p

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of&nbsp;8.23 billion yuan ($2.78 billion) for&nbsp;for abusing market dominant position. China's market regulator has also demanded Alibaba&nbsp;"stop illegal activities." The record fine is equivalent to 4% of 2019's total domestic sales for the e-commerce company.&nbsp; Chinese regulators said it abused its dominance to punish merchants who sold goods on rival platforms.

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-: Broke

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:
<ul>
<li>Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.</li>
<li>Large wage hikes across the board by companies in March will keep margins flat</li>
<li>TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction</li>
<li>Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter</li>
<li>ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.</li>
</ul>
Alert: TCS reports Earnings on April 12, Infosys April 14

Online insurance agent Policybazaar is planning to go public through an IPO which could come by the year-end. The Softbank-backed unicorn may file its draft prospe

Reports indicate that online insurance agent Policybazaar&nbsp;is planning to file for an IPO as early as next month.&nbsp;The Softbank-backed unicorn may look to raise $500 via the public offering that could value Policybazaar at $3.5 billion.
According to latest updates on Crunchbase, to date, the company has raised $766.6 Mn in 13 funding rounds from 22 investorsPolicyBazaar's most recent funding round was in March 2021, when it raised a $75 Mn private equity round led by Falcon Edge Capital.
The portal hosts more than 100 million visitors a year and sells 400,000 insurance policies each month, according to its website.&nbsp;

Do not take yet ased e-commerce giant Amazon has moved the Supreme Court, challenging the Delhi High Court’s division bench order that allowed Kishore Biyani

E-commece giant Amazon has moved the Supreme Court, challenging the Delhi High Court&rsquo;s division bench order that allowed Kishore Biyani-promoted Future Group to proceed with its&nbsp;₹24,000 crore asset sale deal with Reliance.
Amazon is requesting a stay from the apex court till a final outcome of its earlier plea related to the deal.&nbsp;In it's petition as seen by PTI, the company has asked the SC to pass any further order, which it may deem fit and proper in the facts and circumstances of the present case.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted. Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted.&nbsp;Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.
As per AMFI&nbsp;data&nbsp;Gross redemptions in March came in much lower at Rs 18,908 crore for equity schemes vs Rs 30,000 cr in previous months. Investment in SIP also saw a big boost of inflow of Rs 9,100 cr.&nbsp; Debt-oriented schemes however saw net outflows of over Rs 52,000 cr.
&nbsp;

Adding to the request for vaccinations the finance ministry has requested the health and home ministries to issue guidelines instructions for enabling CO

Adding to the request for vaccinations the&nbsp;finance ministry has requested the health and home ministries to issue&nbsp;guidelines&nbsp;instructions for enabling COVID-19 vaccination of employees of banks and National Payments Corporation of India on priority basis.
 As per IBA data the banking sector has seen&nbsp;600 unfortunate deaths due to COVID-19, finance ministry stated in it&rsquo;s appeal.&nbsp;
 The IBA in the last month had written a letter addressed to Secretary Health and Family Welfare for inclusion of bank employees for vaccination on priority basis given their role their important role in running the economy.
&nbsp;

Economists are going back to the drawing board on the GDP forecast as the strong resurgence of Covid could put brakes on the countries growth path. At $300 bn Maharasht

What is the economic impact of the infection epicentre, here is why Maharashtra&nbsp;matters in numbers -: 56,000: The daily rate of new Covid&nbsp;infections in the state&nbsp;
60%: Contribution to the national tally of Covid&nbsp;cases&nbsp;
$300 bn: The annual GDP&nbsp;of Maharashtra&nbsp;
14.2%: Contribution to India's GDP, largest among all states&nbsp;
5%: Mumbai's&nbsp;contribution alone to India's GDP Rs 4 lk cr: Annual turnover of Mumbai's&nbsp;service sector Rs 16,000 cr: Loss estimated in a month for Mumbai's&nbsp;service sector Rs 40,000 cr: The economic dent estimated by Care Ratings of 1-month lockdown&nbsp;in Maharashtra&nbsp;
30 bps: The immediate downside in India's GDP&nbsp;from Maharashtra&nbsp;lockdown
&nbsp;

Technoking Musk is setting his eyes on Mumbai, Delhi and Bengaluru for setting up showrooms for Tesla as it gears to enter India this year. Reuters reports Te

Technoking&nbsp;Musk is setting his eyes on Mumbai, Delhi and Bengaluru for setting up showrooms for Tesla as it gears to enter India this year.&nbsp; Reuters reports Tesla is&nbsp;looking for commercial properties as large as 20,000-30,000 square feet each to open showrooms and service centres.&nbsp;
In January the company took its&nbsp;first step&nbsp;toward launching in the country, registering Tesla Motors India and Energy Private Limited in Bengaluru.&nbsp;
 India recorded just 5,000 EV sales out of the total 2.4 million cars sold last year, while in China new energy vehicle sales touched 1.25 million.

Almost on a daily basis over the past week, start-ups join the unicorn club as funding comtinues to pour in. Meet the newest entrants into the billion dollar club -:

Almost on a daily basis over the past week, start-ups join the unicorn club as funding continues to pour in. Meet the newest entrants into the billion-dollar club:
<ul>
<ul>
<li>Pharmeasy: Parent API holdings now valued at $1.5 billion&nbsp;TPG Growth led fundraising of $350 million into this&nbsp;Mumbai-based online pharmacy company.&nbsp;</li>
<li>Groww: This investment platform founded by&nbsp;Flipkart employees debuts as a billion-dollar company as&nbsp;Tiger Global invested $83 million into the company which has over 15 million registered users.&nbsp;</li>
<li>Cred: Fintech start-up started by Kunal Shah now&nbsp;enjoys a $2.2 billion valuation from $800 mn. The fund raising was&nbsp;led by new investor&nbsp;Falcon Edge Capital.</li>
<li>Meesho: $300 mn from&nbsp;SoftBank Vision Fund valued this&nbsp;social commerce startup&rsquo;s valuation to $2.1 billion vs $125 million when it last raised money in 2019.&nbsp;</li>
</ul>
</ul>

Bankruptcy could be on the menu for Coffee Day Enterprises which has disclosed outstanding debt of Rs 280 cr in an exchange filing. Worries are brewing as it has&n

Bankruptcy could be on the&nbsp;menu for Coffee Day Enterprises which has disclosed outstanding debt of Rs 280 cr in an exchange filing. Worries are brewing as it has&nbsp;defaulted on loans in the quarter gone by due to a liquidity crisis as per reports.&nbsp;
Sources have told Business Standard that&nbsp;lenders to Coffee Day Enterprises are considering sending the company to the National Company Law Tribunal due delayed payments on loans.&nbsp;

Bloomberg reports that social media giant Twitter had held talks with Clubhouse which would have valued the drop-in audio networking platform at $4 billion. T

Bloomberg reports that social media giant Twitter had held talks with Clubhouse which would have valued the&nbsp;drop-in audio networking platform at $4 billion.&nbsp; Though the talks seemed to have stalled reports also indicate that Clubhouse is looking to raise funds which would give it similar valuation.&nbsp; Clubhouse launched last year and popularized the idea of hosting live audio conversations. More than 10 million people have reportedly downloaded the app, which is currently invite-only and iOS-only.

Gurgaon administration has decided to increase the circle rate by upto 90% in some of the elite locations in the area as per reports. Circle rates at DLF’s

Gurgaon administration has decided to increase the circle rate by upto 90% in some of the elite locations in the area as per reports.&nbsp;
Circle rates at DLF&rsquo;s Camellias, Magnolias and Aralias, which houses one of the costliest condominium in the country, has been increased from Rs 20,000 sq ft to Rs 25,000 sq ft.
While circle rate at DLF&rsquo;s Carlton and Crest has been increased from Rs 8,000 sq fr to Rs 15,000 and Rs 12,000 respectively.
The revenue department stated that the new circle rates will be applicable from April 8, so any registration happening from Thursday will be as per the new rates.&nbsp;

The Oyo promoter Ritesh Agarwal was quick to clarify on social media that Oyo was not filing for bankruptcy. The founder of the hotel aggregator app

The Oyo&nbsp;promoter Ritesh&nbsp;Agarwal was quick to clarify on social media that Oyo&nbsp;was not filing for bankruptcy. The founder of the hotel aggregator&nbsp;app tweeted as many media outlets had received a pdf&nbsp;stating Oyo&nbsp;had filed for insolvency.&nbsp; The facts are quiet different, the case of insolvency has been filed against a subsidiary of Oyo over a dispute of Rs 16 lakhs, the&nbsp;subsidiary is&nbsp;Oyo Hotels and Homes Pvt Ltd (OHHPL), which operates under the brand name &nbsp;Weddingz.in.
The plea has been filed by a Gurgaon hotelier who has accused the company of defaulting on payments.Oyo claims that the Rs 16 lakh in dispute has already been paid to the claimant under protest by the entity with whom the dispute was raised.

Market regulator has imposed a fine of Rs 25 cr on the Ambani family for the violation of takeover code regulations in the year 2000. SEBI's order has penalis

Market regulator has imposed a fine of ₹25 cr on the Ambani&nbsp;family for the violation of takeover code regulations in the year 2000. SEBI's&nbsp;order has penalised&nbsp;Mukesh Ambani, Anil Ambani, Kokilaben Ambani, Nita Ambani, Tina Ambani, Reliance Industries Holding, Reliance Realty and others. 
The fine is for failure to disclose the acquisition of more than 5% stake in the company in the year 2000, which as per norms would have triggered an open-offer. In January 2000&nbsp;&nbsp;promoter stake in Reliance Industries increased by 6.83% after conversion of 3 crore warrants issued in 1994.
The penalty of ₹25 crore will have to be jointly paid by the 34 individuals and entities who were allotted the warrants in the year 1994.&nbsp;

Rupee sank 105 paise vs the US dollar to close at 74.47 on Wednesday amid concerns over surging COVID-19 cases. It marks the biggest one day fall for the Rupee in

Rupee sank 105 paise&nbsp; vs the US dollar to close at 74.47 on Wednesday amid concerns over surging COVID-19 cases. It marks the biggest one day fall for the Rupee in nearly 2 years.&nbsp; Strengthening crude prices and also a stronger dollar on the back of Fed meeting minutes added pressure onto the local currency driving it to the biggest fall since August 2019.&nbsp;
The drop has taken the rupee to a four month-low vs the US dollar. StanChart is expecting the Rupee to drop as low at 76/$ by the year end.&nbsp;

RBI is geared to support the economy till recovery stabilises, Here are the top 10 announcements you should take note of -: RBI has kept rates at rec

RBI&nbsp;is geared to support the economy till recovery stabilises, Here are the top 10 announcements you should take note of -:&nbsp;
<ol>
<li>RBI&nbsp;has kept rates at record low, removes time based guidelines but assures that policy will remain accommodative&nbsp;till growth stabilises&nbsp; </li>
<li>RBI&nbsp;has maintained GDP&nbsp;outlook for 10.5% growth for this year but raised concerns on recovery as localised lockdowns&nbsp;could hurt supply. &nbsp;</li>
<li>Inflation outlook for April-October has been raised t 5.2% vs 5.0%, but this forecast will alter as per monsoon movement.&nbsp; </li>
<li>Customers of payment banks allowed to hold balances up to Rs 2 lakh as against Rs 1 lakh earlier &nbsp;</li>
<li>RBI has allowed fintech cos, payment companies to be a part of centralised payment systems - RTGS and NEFT</li>
<li>RBI&nbsp;backs the idea of adding fuel to the GST&nbsp;pack, says coordinated effort by state-centre can reduce tax pressure on fuel prices </li>
<li>Big move for bond markets, central bank announced&nbsp;Government Security Acquisition Programme (G-SAP) </li>
<li>RBI to buy Rs 1 lakh crore of G-Sec under G-SAP&nbsp;from April-June</li>
<li>First purchase of Rs 25,000 crore&nbsp;of g-secs will be done on April 15.</li>
<li>Priority sector lending norms eased for agriculture and warehousing services. </li>
</ol>

Macrotech Developers, formerly known as Lodha Developers, will finally open their IPO for subscription on Wednesday. Here is all you need to know: Issu

Macrotech&nbsp;Developers, formerly known as Lodha&nbsp;Developers, will finally open their IPO&nbsp;for subscription on Wednesday.
Here is all you need to know:
Issue date: April 7-9
Price band: ₹483-486
Lot size: 30
The Mumbai-based real estate developer is looking to raise ₹2,500 crore&nbsp;through the fresh issue, proceeds of which would be used to reduce debt burden and purchase of new land.&nbsp;The finalisation of the basis of allotment is likely by April 16 and the listing is expected by April 22.

The International Monetary Fund on Tuesday upgraded its growth projection for India to 12.5% for FY22 from 11.5% estimated in January. The IMF said in its biannua

The International Monetary Fund on Tuesday upgraded its growth projection for India to 12.5% for FY22 from 11.5% estimated in January.
The IMF&nbsp;said in its biannual World Economic Outlook that for the emerging and developing Asia regional group, projections for 2021 have been revised up by 0.6 percentage point, reflecting a stronger recovery than initially expected after lockdowns were eased in some large countries like India. IMF chief economist Gita Gopinath said a high degree of uncertainty surrounds the projections.&nbsp;

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