Daily Archives: Monday March 11th, 2019

Retail investors discount at MSTC IPO

Capacity Infra IPO

Mumbai- The initial public offering (IPO) of the government company MSTC will open on March 13 and close on March 15. The company has fixed the price range of 121 to 128 rupees and plans to raise Rs 220 crore through this issue.
In a press conference in Mumbai on Monday, MSTC Chairman and Managing Director BB Singh said that the company will issue a total of 17,670,400 equity shares under which 70,400 shares will be reserved for eligible employees. This can be applied for minimum 90 equity shares. Also for retail investors and qualified employees, this IPO will get a discount of Rs 5.50 per share.
Singh said that for this issue, BRLM Equivirus will be capitalized and the shares will be listed in the BSE and NSE. MSTC was established in 1964 and it originally serves to export scraps. However later it diversified and works in a lot of areas. They said that there are three main businesses in which the company is employed and it includes e-commerce, trading and recycling. The company has so far made 1,90,000 auctions and has 110,000 subscribers.

Modi government’s free insurance plan fails

modi ji

The free insurance scheme covered under the ambitious Janshana Yojana of Mumbai-Modi government is still crawling after 5 years of launch. At the same time, a lot of people are taking advantage of the insurance scheme of 12 rupees and 330 rupees annually launched next year. Free insurance is a cold response, whereas the insurance scheme where the money is required to pay is good response.
The move of the insurance scheme with the Jananan accounts is slow. In the last five, there were fewer than 10,000 people claiming. The account holders are also coming in a very small number of claims. Since launch, just 9566 claims have been made. For this, only 12260 account holders have applied for the application. Explain that life and accident insurance is available with the Janhanan accounts. It offers life insurance of 30,000 rupees and accident insurance of 2 lakhs.
So far, 5323 lives of life insurance whereas 4243 claims of accident insurance have come. It is necessary for the claim to get a free Rupee card. Explain that around 35 million accounts are open under the Janhanan scheme. Janhana Yojana was launched in August 2014. At the same time, a lot of people are taking advantage of the insurance scheme of 12 rupees and 330 rupees annually.
Experts say that the insurance scheme with an annualized rate of Rs. 12 and Rs. 330 is better. The 12 year old PMSBI got 30548 claims. Under PMSB, Rs 610.53 crore has been given in three years. PMSBi gets a cover of Rs 2 lakh on death due to accident. At the same time, a total of 1.77 lakh claims were received in PMJJY, 330 rupees. The total amount received in the claim has reached Rs 3,556 crore. In PMJJBY, there is also insurance of Rs 2 lakh on death.

Sensex closes with triple century


Mumbai: In the trading session on Monday, the Indian stock market has closed down strongly. On the day-to-day trade, the Sensex climbed 382 points to close at 37.054, which is the highest level of six months. On the National Stock Exchange, the Nifty closed 140 points higher and traded at 11,176.
Nifty 50 stocks out of 50 shares are closed in 42 green and 8 red marks. Talking about the index, the Nifty’s mid-caps closed up by 1.95 per cent and closed with a smallcap of 1.87 per cent. Nifty Auto up 2.31 percent, Nifty futures up 0.89 percent, Nifty FMCG up 1.07 percent, Nifty IT down by 0.23 percent, Nifty metal up 2.78 percent, Nifty Pharma 1.48 percent up, and Nifty Reality 0.93 percent With the speed of doing business, it is closed.
Nifty 50: Bharti Airtel 8.42%, Hind Petro 5.54%, BPCL 5.31%, Eicher Motors 4.79%, Infratel up 4.34%, NTPC 0.95%, TCS 0.52% Declining, Jill decreased 0.52 per cent, HCL Tech down by 0.51 per cent and TechM 0.51 per cent.

Stock exchange launches new flight


Mumbai: After the announcement of dates of the 17th Lok Sabha elections, the stock market has been fasting. However, in the year 2014, the Election Commission had announced the elections in nine phases on March 5 and the next day on March 6, S & P BSE Sensex closed at 21,513 with a surge of 237 points.
On Sunday, the Election Commission announced the Lok Sabha elections in seven phases, and on Monday the Sensex closed at 37,054.10 with a rise of more than 382.67 points, which is the biggest rally in the last six months.
The results of the 2014 Lok Sabha elections were surprisingly unimaginable and the then Gujarat Chief Minister Narendra Modi took oath as Prime Minister on May 26, 2014. From the announcement of the last general election to the date of Narendra Modi taking oath as Prime Minister, the Sensex has been successful in making a huge jump of 3,440 points. After this, the market has not looked back and the Sensex has managed to touch the level of 38,989.65 on August 29, 2018.
According to the report of KR Choksi Shares and Securities, the returns of investors (May-July) after the return are “positive and more” and the situation of fluctuation becomes “normal”. The reason for the rise in the stock market is the confidence of the investors on the reforms made during the last four years. Because of the reforms and its possible consequences, institutional foreign investors (FIIs) have bet on the Indian stock markets.