Shaking confidence in recovery:
Reserve Bank of India governor Shaktikanta Das has expressed his apprehensions over the recovery to sustain post the festival season.
The Indian economy has bounced back sharply in the September quarter after witnessing a visible contraction in GDP by 23.9% in the first quarter. However, the economic indicators that rose quickly over September and October, seem to be flatlining now.
Rising concerns around the recovery are understandable given the surge in fresh Covid cases. States and UTs like New Delhi, Rajasthan, Maharashtra, and Karnataka have seen a fresh wave of cases. It has reintroduced partial lockdowns and night curfews across several cities across India.
New IPOs ready for launch:
Seeing the current optimism prevailing in the market, few unlisted companies could launch their IPOs in the December-January period.
Companies such as Kalyan Jewellers, Suryoday Small Finance Bank, ESAF Small Finance Bank, Nazara Technologies, Burger King, Antony Waste Handling Cell, and RailTel Corporation of India have received SEBI's approval and are in line to launch IPOs soon.
Buoyant market sentiments provide an ideal time for listing to the companies. The investor’s interest is high and liquidity is abundant in the market currently. This is an ideal situation when quality assets are likely to fetch premium prices.
Most of the IPOs launched post-market crash have received a good response from the market. This could also be working as an additional confidence booster for the promoters to launch their IPOs.
Bharti Airtel vouches for affordable spectrum prices:
Bharti Airtel's chief executive Gopal Vittal has called for affordable spectrum prices from the government. Fair costing is necessary for efficient investment in technology, according to him.
Speaking at a FICCI event, he also highlighted the importance of strong collaboration between the government and telecoms to build a vibrant 5G ecosystem.
Vittal, further added that the current sector regulated prices are unaffordable. Airtel, could also give a miss to 5G spectrum sale if these prices continue.
The Indian government is likely to go for the sale of 5G airwaves later next year. India still remains far behind investing in the 5G technology. Hence, it is important that Indian telecom companies need to remain committed to it.
Since more than one player has raised concerns about the spectrum prices, we believe that the government should actively consider it. Investment in 5G technology is in the national interest. Also, it would be wise to cut prices to ensure maximum participation from the private players.
