Tag: COVID

Government asks states to exempt ecommerce operations from prohibitory orders, industry welcomes move

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Narendra Modi government on Friday has asked all states to ensure ecommerce operations are not disrupted and are provided exemption from prohibitory orders brought in place across multiple states to curb the spread of COVID-19.

The move was done to ensure supply of good and services to citizens is not interrupted.

The department of consumer affairs has written a letter to chief secretaries of all states to exempt ecommerce operations from prohibitory orders, such as imposition of Section 144 or mandatory closures.

The department held an inter-ministerial meeting on Friday, in which ecommerce players such as Amazon, Flipkart, Snapdeal also participated, sources told CNBC-TV18.

The meeting was focussed on maintaining supply of good and services to citizens. In its letter, the central government has asked all states to exempt ecommerce operations, including warehousing, logistics, wholesalers vendors and delivery partners.

It also directed ecommerce players to maintain hygiene at facilities and said that these facilities will be inspected.

The move was welcomed by ecommerce players As they are seeing a big jump in demand for groceries, hygiene products as people resort to panic buying and stocking up of essentials.

Kunal Bahl, chief executive officer of Snapdeal welcomed the government move to exempt ecommerce from any type of prohibitory orders.

Great to see the direction given by Secretary of Dept of Consumer Affairs about the fact that eCommerce is an essential service and related operations would be exempt from any type of prohibitory orders. In these times of turbulence, eCommerce can ensure seamless supply. pic.twitter.com/EaJVxkSSRc

— Kunal Bahl (@1kunalbahl) March 20, 2020

Flipkart said in a statement, “Over the last several days, we have seen demand in certain categories increase, and as we meet this demand working with lakhs of our sellers, we have taken multiple precautions to ensure safety of our supply chain and last mile delivery…This gives us confidence in our ability to support and collaborate with governments (Both Centre and States) and other stakeholders as we fight this crisis as a country.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market sell-off: Experts believe this could be an opportunity to start buying

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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SP Tulsian of sptulsian.com, market expert Anand Tandon and Dhiraj Sachdev, managing partner and CIO at Roha Asset Managers shared their views and outlook on market fall and the sector/stocks they would place their bet on and spaces they would avoid.

“Consumption and financials are looking good. In financials, I will go with the big three-four banks HDFC Bank, ICICI Bank, Axis Bank and State Bank of India (SBI). One can be little cautious on the non-banking financial companies (NBFCs) at this stage. On consumption side, Godrej Consumer Products, Colgate Palmolive (India) or Bata India have come to the good levels. Those who can venture out in a little aggression can look for Hindustan Unilever Ltd (HUL) and Nestle India as well,” said Tulsian.

“If you think that the market is at or near its low, I would argue that there is a reason to assume that as a normal correction this is about to over in which case it does make sense to start buying. However, I don’t believe that it is business as usual and therefore I would change the thesis away from what has worked so far. I would stay away from financials and consumers and buy everything else,” said Tandon.

With regards to crude, Tulsian said, “Everything is getting covered with coronavirus fear. US now seems to be in the forefront in spite of seeing the worst affected country being Italy, Iran and South Korea, we have been seeing the fears mounting up. If it hits the east coast of US then that will be seen creating further carnage.”

“Meanwhile, the fall of the Brent to as low as USD 35 per barrel seems to be a big positive. Many of the sectors, tyre, aviation, paints will see taking a big positive and apart from that even the FY20 fiscal deficit can come under control and partly for Q1 of FY21 for the government as well. We have seen the worst of the growth for our country and once the gross domestic product (GDP) data of Q4 for China will come in, probably our data will look respectable. I am not too much worried and the fall of the Brent seems to be a big kicker, which eventually has to get factored in by the market once these coronavirus fears gets settled or subsides.”

Speaking about incremental money, Dhiraj Sachdev, Managing Partner and CIO of Roha Asset Managers said, “I am not worried about incremental money. I think these panic levels are ideally opportunities in disguise and mature investors would pump into such panics because we have realized time and again in the last 20 years that such mayhems and pessimisms are points of maximum opportunity. So, while the market is worried about global sell-off, crude oil fears, supply chain disruptions, COVID, etc. we do believe that these are panicky kind of reactions which are temporary in nature and over a period of time as the dust settles, things will come to normalised levels.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow