Equity

Indian equities were slightly altered on May 23 after advancing over 3% the prior session, as a severe selloff in metal companies offset advances in automobile sector. The Nifty metals index fell 6.6 percent, while the Nifty auto index increased by 2%. The Indian government announced on May 22 that it will eliminate import duty on anthracite, PCI coal, and coking coal, with the goal of lowering raw material costs.

According to Maple Capital Advisors report, India's emerging gaming sector has secured $554-million investment during August 2020-January 2021. Maple’s founder and MD Pankaj Karna said the sector is now at its inflexion point with around 400 million gamers and a plethora of investors. Highlighting the participation of growth-oriented private equities, he said the numbers are expected to double in the coming 12- 18 months. Notably, Dream11,… read-more