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The scheme is expected to give a major boost to localising the electric vehicles (EV) supply chain in India. Despite being a key component for EVs, all such vehicles sold in India presently rely completely on imported cells, mainly from China.

Meme stocks, blank-check companies and high-flying biotech names that were all the rage at the start of 2021 are now running cold. The first two weeks of the year have brought a 17% tumble for a group of stocks that went public via merger with blank-check firms and a 10% correction for the biotechnology industry.

The world’s largest cryptocurrency rebounded this week after falling below $40,000 for the first time since September on Monday. The drop put holders on edge.

Reliance Industries, Infosys, HDFC, Bajaj Finance and Wipro also saw a rise in their market valuations, while HDFC Bank, ICICI Bank and SBI suffered losses.

Proportion of women investing in equities up at 24% in 2 years from about 16%

Asian governments are carrying out widely diverging coronavirus policies, with strategies ranging from China’s pursuit of Covid Zero to Australia’s move to live with the virus, and almost everything in between. The speed of vaccinations and the strength of health-care systems also vary greatly in the region.

The Nasdaq and the S&P regained lost ground in afternoon trading to close higher. Meanwhile the consumer discretionary stocks put pressure on the indexes throughout the session after morning data showed a December decline in retail sales and a souring of consumer sentiment.

HDFC Bank reported a net profit of Rs 10,342.2 crore in October-December; registering an increase of 18 per cent year-on-year as a strong growth in the private lender’s net revenues boosted the bottom line.

“Once the sectoral churn gets over, the market gets back into traditional phase where the high beta stocks and high beta sectors start to get into a rally mode.”

“There is a lot of noise from the domestic industry on the ferrous pricing, but overall our companies are placed well and they should do well this year on the metal pack.”