Shilpa Biologicals Pvt Ltd, a subsidiary of Shilpa Medicare Ltd, has announced a strategic tie-up with Mylab Discovery Solutions, India’s leading diagnostic solutions provider. With this association, Shilpa Medicare expects to venture into the vaccine and therapeutics segment

The Indian benchmark indices extended losses in Monday morning deals amid weakness seen in auto and financial stocks. On BSE, the overall market coverage was positive as 1,261 shares were advancing while 561 were declining. Among sectors, except PSU bank, metal and power all other sectoral indices are trading in the red with auto, FMCG, IT, bank, healthcare, realty, capital goods down 1-2 per cent. FII selling on Friday was Rs 2267.86 crore and the DII inflow was recorded at Rs 621.98 crore.  

Umesh Revankar, VC and MD, Shriram Transport Finance breaks down the finer points and the impact of Budget-2022 on India's growth story.

Nifty PSU Bank index ended up 3.41% at 3066.10 today. Metals, IT, pharma, and FMCG stocks advanced while autos and oil & gas stocks declined. The government's focus on boosting manufacturing as well as an underlined emphasis on areas such as startups, modern mobility, and clean energy, boosted investors' sentiment. 

At noon on Wednesday, the core equity indices i.e., Sensex and Nifty 50 were up and responding positively to the Union Budget as the Sensex breached the 59,000 level mark in the morning. The Sensex was at 59,5000.70 up by 638.13 points or 1.08 per cent, while Nifty was at 17,762.10 up by 185.25 points or 1.05 per cent from the last trading session.

On Tuesday, amid the Union Budget 2022-23 presentation, benchmark indices ended in green in the highly volatile session supported by the metal, pharma and capital goods stocks.

The FY22 expenditure was revised to Rs 37.7 lakh crore. Also, the FY22 fiscal deficit is estimated at 6.9 per cent of the GDP. In FY23, the fiscal deficit was pegged at 6.4 per cent of the GDP. Also, the FY23 Capex is targeted at Rs 7.50 lakh crore. FY23 effective Capex was seen at Rs 10.7 lakh crore. The SMEs and the MSMEs have continued to be under stress due to the successive waves of the pandemic, which have not only disrupted their operations but also, impacted demand, particularly in services. The extension and expansion of the ECLGS Scheme to Rs 5 lakh crore is a step in the right direction to provide further liquidity relief to these sectors. Further, the plans to revamp the credit guarantee fund have been announced to make it more effective. New railway routes have been planned, which would benefit SMEs as well as the farmers.   

Providing a broad-spectrum booster shot to the economy, Union Budget 2022-23 is progressive, especially with its emphasis on building the infrastructure of the country. The Finance Minister clearly emphasised the top priorities of the government - PM Gati Shakti for sustainable growth, inclusive development, productivity enhancement, and financing of investments.

Higher capex is going to have a positive impact on infrastructure sector.

Budget 2022-23 is observed to be growth-inducing and does give a significant push to increase capital expenditure. The attention on boosting manufacturing while emphasising areas such as startups, modern mobility, and clean energy, shows the FM has prioritised long-term growth. 

The government plans to allot Rs 1,400 crore for 123 MW hydro and 27 MW solar projects in India.

The insurance sector was widely anticipating a GST cut in the insurance products but to no avail.

Finance Minister Nirmala Sitharaman announced that the country expects a GDP of 9.2 per cent and this will lay the foundation for economic growth over the next 25 years. Inclusive development, productivity enhancement, energy transition, and climate action would be the four pillars of development. Budget 2022 seeks to lay the foundation to steer the economy over ‘Amrit Kaal’ for the next 25 years, from India at 75 to India at 100, continuing to build on the vision of Budget 2021.  

In the Union Budget 2022-23, a bunch of expectations has been fulfilled. Healthcare and infrastructure appeared to be the main highlights of Budget 2022 while a huge investment has been allocated for the expansion of roadways & logistics networks.  

FM Nirmala Sitharaman declared that the government will enhance the national highway network by 25,000 kilometres under the PM Gati Shakti master plan in 2022-23. Continue reading to know how infrastructure funds may benefit.

This progressive step marks a new beginning for the adoption of digital currency by our nation.    

The bulls seem to be dominating the market on the budget day with the advance decline ratio clearly in the favour of the advances and 149 stocks making a fresh 52 week high.  

The residential sector witnessed a strong comeback in 2021 with housing sales in the top seven cities rebounding to 90 per cent of the pre-pandemic levels and new launches reaching 2019 levels.