The recent sharp rally in paper stocks following the government's pledge to eliminate single-use plastic has made investors sit up and take note.Many are of the opinion that the government’s shun-plastic push has brightened the prospects of paper companies. But, analysts and industry watchers are less convinced with this rally.The government has pledged to eliminate single-use plastic by 2022. As per reports, a nationwide ban on single-use plastic, including bags, cups and straws, could come as early as on October 2, the 150th birth anniversary of Mahatma Gandhi.Close Since August 15, when Prime Minister Narendra Modi urged citizens to give up single-use plastic by October 2, 20 paper stocks have surged over 10 percent as of September 11 on BSE. related news Sensex at record high but midcaps likely to generate wealth; 20 stocks to bet on Technical View: Nifty forms Doji pattern, record high likely if index closes above 12K Sensex hits a new high, 4 factors that could … [Read more...] about 20 paper stocks up 10% since Aug 15. Will it hold?
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Realty firm Puranik Builders has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000 crore through its initial share-sale.The IPO comprises fresh issue of shares worth Rs 810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders, according to the draft papers filed with Securities and Exchange Board of India (Sebi).Proceeds of the issue will be utilised towards repayment of loan and other general corporate purposes.Close In addition, the company plans to receive the benefits of listing of its equity shares on the stock exchanges. related news Subscribe to CSB Bank: ICICI Direct Avoid CSB Bank: Choice Equity Broking Subscribe to CSB Bank: Hem Securities According to market sources, size of the initial public offer (IPO) is around Rs 1,000 crore.Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE … [Read more...] about Puranik Builders files fresh IPO papers with Sebi; plans to raise Rs 1,000cr
Kailash Kulkarni, Chief Executive Officer at L&T Mutual Fund, has put in his papers, three people aware of the development told Moneycontrol.The sources said that Soumendra Nath Lahiri, who is currently Chief Investment Officer at the fund house, will take over as CEO after Kulkarni leaves.If the buzz in the market is to be believed, Kulkarni was given the responsibility of finding a buyer for L&T Mutual Fund but was unable to do so in the last 2 years.Close This may have prompted the company to ask him to resign. Moneycontrol also learned that he was denied the company's ESOPs.Himadri BuchAssistant Editor|Moneycontrol.com How Muthoot Finance can leverage its IDBI AMC buyEssel Group stake sale in Zee: Will it release logjam for MFs?SEBI move to up minimum PMS investment could benefit mutual fundsMessages and calls to Kulkarni went unanswered. In a response to queries on the matter, a L&T Mutual Fund spokesperson said, "As a matter of policy we do not comment on … [Read more...] about L&T Mutual Fund CEO Kailash Kulkarni puts in his papers
Medical associations and professionals have said they will halt cashless treatments of beneficiaries of the Centre's medical care schemes unless rates are increased and unpaid dues paid, according to a report in Hindustan Times.Doctors associations, hospitals and nursing homes are yet to be paid at least Rs 1,000 crore for expenses incurred under these schemes, the Association of Healthcare Providers India (AHPI) said.The schemes will continue but beneficiaries would pay central government Health Scheme (CGHS) rates and then seek reimbursements from the government themselves, AHPI director-general Dr Girdhar Gyani told the paper.Close Cashless treatments will thus be halted as a stopgap measure to deal with delayed payments, he added. AHPI has 10,000 members pan-India, including Lilavati, Hinduja, Apollo and Fortis. related news SC agrees to hear PIL seeking deportation of Rohingyas, Bangladeshi immigrants in four weeks World needs India's ancient traditions of non-violence, … [Read more...] about CGHS: Hospitals irked over unpaid dues, threaten to stop treatment
Subir RoyMoneycontrol ContributorThe Odisha government has taken an important step to address rural distress and has come up with the Krushak Assistance for Livelihood and Income Generation (KALIA), which seeks to overcome the shortcomings of earlier attempts in the country in the same area.First came the debt waiver schemes, which addresses the immediate crisis in the lives of debt-ridden farmers, but does nothing to improve farm economics. Also, their scope is limited, as only institutional loans are covered. Loans from moneylenders are not covered.Close Worse, loan waivers harm credit discipline (the need to repay loans) and the viability of the entire agricultural credit system. related news Cube Highways bids Rs 5,011cr to bag third TOT bundle: Report KfW to lend Rs 1735cr to Andhra Pradesh for zero budget natural farming CCEA approves amendments to 'Toll Operate Transfer' model for national highways Then came the recently introduced Rythu Bandhu scheme in Telangana, … [Read more...] about Opinion | Odisha’s KALIA is the best scheme yet to address rural distress