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Category: Business

  • Global Paper Packaging Materials Market to Reach US$ 465 Billion by 2032, Driven by 6% CAGR

    Paper packaging offers a versatile and cost-effective solution for storing, transporting, and preserving a wide range of products. It can be easily customized to meet customer needs and product-specific requirements. Compared to other types of packaging, paper packaging provides several key benefits, including being lightweight, biodegradable, and recyclable.

    The paper packaging materials market is being propelled by strict regulations from environmental protection agencies and increasing consumer awareness of sustainable packaging choices. The growing global population is driving demand for affordable packaging alternatives, such as bags, pouches, and cellulose-based materials.

    A variety of end-use applications now call for environmentally safe and sustainable packaging materials as a result of recent breakthroughs in the packaging sector. This is a significant aspect influencing the development of the market for paper packaging materials.

    Key Takeaways from Market Study:

    • The global paper packaging materials market is valued at US$ 260 billion in 2022.
    • Market in Canada is projected to progress at a CAGR of 5.3% over the forecast period (2022-2032).
    • Sales of paper bags & sacks are anticipated to expand at a CAGR of 5.7% from 2022 to 2032.
    • Market in Germany is set to evolve at a CAGR of 5.5% through 2032.

    Paper Packaging Materials Gaining Huge Popularity:

    Growing Demand for Sustainable Packaging – One of the primary reasons for the rising popularity of paper packaging materials is the global shift towards sustainability. With increasing concerns about environmental degradation, consumers and industries are seeking alternatives to traditional  which is non-biodegradable and harmful to ecosystems.

    Biodegradability and Recycling – The biodegradable nature of paper packaging is another key factor behind its growing popularity. Unlike plastic, which can take centuries to break down, paper decomposes naturally, reducing the long-term environmental impact. In addition, paper packaging is easily recyclable, making it an important component in the circular economy, where materials are reused and repurposed to minimize waste.

    Lightweight and Cost-Effective -In addition to its environmental benefits, paper packaging is lightweight, which makes it more economical for shipping and transportation. Reduced shipping costs are a significant advantage for businesses looking to optimize logistics without sacrificing sustainability. Furthermore, the relatively low cost of paper packaging materials compared to other sustainable alternatives makes it a cost-effective option for businesses looking to balance environmental responsibility with operational efficiency.

    Rising Consumer Awareness and Preference– Today’s consumers are more environmentally conscious than ever before, and their purchasing decisions are increasingly influenced by the sustainability practices of brands. This has led to a growing preference for products packaged in eco-friendly materials, such as paper. Brands that adopt paper packaging not only appeal to this environmentally aware consumer base but also enhance their brand image as socially responsible and sustainable.

    Innovations in Paper Packaging Technology-Technological advancements in paper packaging have significantly enhanced its functionality and broadened its application across various sectors. For example, innovations like liquid packaging cartons and more durable paper materials have made paper packaging more suitable for items that require leak-proof or moisture-resistant properties. These advancements are making paper packaging more competitive with other forms of packaging, such as plastic and glass, while still maintaining its eco-friendly appeal.


    Mansi Praharaj

  • TimBuckDo and Government of Karnataka Sign MoU to Empower Students with Part-Time Jobs and Internship Opportunities

    Bengaluru, 26 September 2024: TimBuckDo, a pioneer in the student gig economy,  has entered into a Memorandum of Understanding (MoU) with the Department of Collegiate and Technical Education (DCTE), Karnataka. This partnership aims to provide college students across the state with access to part-time jobs and internships, offering valuable work experience, skill enhancement, and financial independence during their academic years.

    Founded by Mythri Kumar and Apoorv Sharma Prasad, TimBuckDo connects students with flexible gig opportunities, bridging the gap between students seeking part-time employment and businesses in need of support. The MoU signing event was attended by Dr. M.C. Sudhakar, Minister of Higher Education, Government of Karnataka, who emphasized TimBuckDo’s role in nurturing future leaders. Also present were Shri Srikar Mysore Sridhar, Principal Secretary of Higher Education, and Sri Jagadeesha G, I.A.S., Commissioner of the Department of Collegiate and Technical Education, Karnataka.

    The collaboration between TimBuckDo and the Karnataka Government is driven by a shared vision to empower students with real-world work experience and financial independence during their college years. With approximately 10 lakh students studying in government colleges across first grade, technical, and polytechnic institutions in Karnataka, there is a significant opportunity to ensure equal access to a variety of part-time jobs and internships for all students, regardless of their background. This initiative aims to build a robust ecosystem that supports the professional growth of these students, enhancing their prospects and creating lasting opportunities.

    Founders Mythri Kumar & Apoorv Sharma Prasad of TimBuckDo, said, “At TimBuckDo, we believe in the transformative power of opportunity. By partnering with the Government of Karnataka, we aim to create access points that empower individuals to unlock their potential and contribute meaningfully to the economy. This MoU is a testament to our commitment to inclusive growth and sustainable development, ensuring that no one is left behind in the journey towards progress.” They further added, “Our mission is to ensure that every student, irrespective of their background, has access to meaningful work experiences. We believe this partnership will create a positive impact on the lives of many students and contribute to the overall development of the state’s education system.”


    Mansi Praharaj

  • Electricity smart meter: Big update regarding smart meter on new electricity connection, check details immediately

    The campaign to install electricity smart meters has been stopped soon after its start. Now normal meters will be installed on new electricity connections in urban areas, whereas smart prepaid meters will be installed in case of technical problems in the meters of consumers with old connections.

    Electricity Corporation officials are citing non-completion of technical works on time as the reason for the ban on smart prepaid meters on new connections. According to corporation officials, on September 12, the agency installing the smart prepaid meters reported technical problem in data feeding of the new meters.

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    The agency representatives said that the work of integration between the electricity corporation’s Jhatpat portal and the meter agency’s portal has been stuck in the middle. Due to this, technical problems were cited in many other works including the billing system and meter feeding on new connections.

    After this, new electricity connections have been started on normal meters in Harungala, Izzatnagar, CBganj, Subhashnagar areas. Superintending Engineer Amba Prasad Vashisht said that as soon as the integration work on the Jhatpat portal is completed, the work of installing prepaid smart on new connections will be started.

    Power failure in Kila area and Sun City

    Due to line fault and repair work, power supply was affected in areas like Veer Savarkar Nagar, Gayatripuri, Mithilapuri etc. operated from Kila area and Sun City sub-centre on Thursday. Whereas in the rural area, power supply was affected in Thiriya Nizamat Khan area from 12:45 pm to 4 pm.

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  • ThoughtSpot Appoints Ketan Karkhanis as new Chief Executive Officer

    Mountain View, California – September 27, 2024 – ThoughtSpot, the AI-Powered Analytics Company, today announced that the Company has appointed Ketan Karkhanis as Chief Executive Officer.

    Ketan is joining ThoughtSpot from Salesforce, where he has spent over a decade of his career. He most recently served as the Executive Vice President and General Manager of the Salesforce Sales Cloud business, leading one of the company’s largest cloud businesses that generated more than $7 billion last fiscal year. He returned to Salesforce in March 2022 after his time as the COO of Turvo, a supply-chain collaboration platform that was acquired by Lineage Logistics in 2022. Before that, Ketan was the Senior Vice President and General Manager of Salesforce Einstein Analytics, incubating the business from launch to over .

    “During this time of accelerated transformation driven by the advent of generative AI, there is no better person to lead ThoughtSpot than Ketan,” said Ajeet Singh, Co-Founder and Executive Chairman of ThoughtSpot. “He is a customer-obsessed, employee-focused business leader with a deep experience in analytics and has built and led world-class SaaS businesses of significant scale. The ThoughtSpot Board believes that Ketan is the right leader to help ThoughtSpot capitalize on its foundational innovation and capture the massive market opportunity that lies ahead in AI-powered analytics.”

    Singh added, “Over the last six months, ThoughtSpot has made significant progress in accelerating its product roadmap, delivering genAI-driven value to customers that are migrating away from legacy visualization platforms, and centering its focus on durable growth at scale, all setting the table for our next CEO.”

    “Ketan has the passion and experience to lead ThoughtSpot in its next chapter,” said Ravi Mhatre, Founder and Managing Director of Lightspeed Venture Partners and the founding investor on ThoughtSpot’s Board of Directors. “This appointment comes at a perfect time for the market as analytics is redefined by genAI, and ensures that ThoughtSpot is best positioned to scale rapidly.”

    “ThoughtSpot has built a fundamentally different approach to analytics since its inception, squarely focused on democratizing data and empowering everyone to make data-driven decisions with its AI and search-driven analytics platform,” said Ketan Karkhanis, CEO of ThoughtSpot. “ThoughtSpot has a significant head start in innovation that is required for truly delivering on the expectations that genAI has created, with a proven solution that is delivering value to some of the largest and most complex enterprises in the world. I am extremely honored to have the opportunity to lead the company that finds itself intersecting with the genAI tailwinds at a perfect time, and is in a strong position to capitalize on this market opportunity by bringing unparalleled value to over a thousand customers across the globe.”


    Mansi Praharaj

  • Mrigaank Mishra: Building a Global Business Empire at 25

    Mrigaank Mishra

    Raised in a family where education and discipline were paramount, Mishra’s parents, both educators his mother a school principal instilled in him the values of hard work and dedication. His sibling, pursuing an MBBS degree, adds to this legacy of perseverance. These values have fueled Mrigaank’s drive to succeed in the competitive world of business.

    Beyond his professional pursuits, Mishra is passionate about cricket, music, and traveling, interests that have given him a unique, well-rounded perspective on life and business. His love for exploring different cultures and markets has allowed him to develop business strategies that are innovative, forward-thinking, and adaptable to global trends.

    With a clear vision of scaling his ventures to new heights, Mrigaank Mishra continues to focus on expansion, always seeking out new opportunities for growth. His entrepreneurial mindset, combined with his global exposure and personal passions, makes him a standout figure in today’s business world. Mishra’s journey is a testament to what can be achieved with ambition, strategic thinking, and a relentless drive for success.

  • Ration card E-Kyc: Ration card holders of this state must do this work before 30 September, Check details

    The central government has made it mandatory to get e-KYC done for Ration Card. If the ration card holder does not get e- KYC done, then his name will be removed from the ration beneficiary list.

    The last date for ration card e-KYC has been fixed as 31 December 2024. The beneficiary will have to link the mobile number with ration card e-KYC .

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    Why E-KYC is important (Why Ration Card E-Kyc is important)

    Many citizens go to other states for livelihood. In such a situation, e-KYC has been made mandatory so that they can get the benefit of ration card in other states as well. As soon as the beneficiary’s e-KYC is completed, he will easily get ration at the ration depot of another state.

    How will e-KYC (Ration Card E-KYC Process) be done?

    To get e-KYC of ration card done, the beneficiary has to take his ration card and Aadhar card to the ration shop. Here he will have to get biometric verification done along with the details of the Aadhar card. If the biometric verification of a beneficiary is not successful in 4 times, then he can get the verification done again after three months.

    Link mobile number with ration card

    Apart from the ration card, the beneficiaries can also update or change their mobile number. Only the head of the ration card has the authority to change the mobile number. If the wrong details of any member are given in the ration card, then only the head has the authority to get it corrected.

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    Previous articleElectricity smart meter: Big update regarding smart meter on new electricity connection, check details immediately
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  • India Emerging as a Global Manufacturing Hotspot

    Sept 27th, 2024 – CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today released its report titled, ‘Fortifying India’s I&L landscape with a new manufacturing growth formula’. The report reveals that the manufacturing sector’s growth has significantly contributed to warehousing demand.  The share of sectors catering to the manufacturing space, including engineering & manufacturing, electronics & electricals and auto & ancillary sectors, within the total warehousing demand across major cities, has increased substantially, growing from 15% in 2019 to 24% in 2023 and 25% in H1 2024. The total leasing for warehousing from these manufacturing-related sectors stood at 4.1 mn. sq. ft. in H1 2024.

    As per the report, Pune has shown the highest increase in warehousing and industrial space take-up by manufacturing players, growing from 6% in 2019 to 13% in H1 2024. Delhi-NCR and Kolkata have also seen notable increases, reaching 18% and 12%, respectively, in H1 2024*. This surge is attributed to factors like adoption of the China + 1 strategy by global manufacturers and supportive policies such as the Production Linked Incentive (PLI) scheme, now covering 14 sectors.

     Sectoral distribution of warehouse leasing in manufacturing sector

    India’s engineering and manufacturing sector has seen a significant surge in warehouse leasing. The report shows that the sector’s share of total warehouse leasing grew from 8% in 2023 to 11% in H1 2024. The top sub-sectors driving warehouse leasing from 2019 to H1 2024 include domestic appliances, auto components, and the automobile industry, reflecting robust demand across these key segments.

    India’s economy continues to demonstrate resilience, exhibiting sustained growth underpinned by several positive indicators. With a surging GDP in 2023 and a projected growth rate of 6.5-7% over 2024-2026, India emerges as one of the frontrunners in the global economic race. This ambitious goal appears increasingly attainable due to a decade of successful policy reforms that have propelled economic growth. The manufacturing sector plays a key role, contributing 14% of GDP and employing over 27.3 million people. In June 2024, the Services PMI hit a 14-year high of 60.5, while manufacturing PMI stood at 58.3, reflecting expansion and the strongest growth in three-and-a-half years. The Index of Industrial Production (IIP) grew by 4.2% in June, pushing overall industrial growth to 5.8% in FY 2023-24.

    India’s favorable business environment, boosted by streamlined regulations and a jump in global rankings, has attracted strong foreign direct investment (FDI). Private consumption also continues to drive growth, with its share of GDP rising from 56.5% in FY2012 to 60.3% in FY24.

    Favorable Government policies enabling manufacturing growth

    To reduce high logistics costs, the government is optimizing freight movement by shifting to more cost-effective and sustainable transport modes through initiatives:

    • GatiShakti National Master Plan and logistics-specific reforms
    • These efforts aim to improve supply chain efficiency, promote green practices, and enhance India’s manufacturing competitiveness globally

    In addition, the Indian government is working to reduce production costs through a series of tax reforms, incentives, and infrastructure improvements. Corporate tax cuts, the Goods and Services Tax (GST), and R&D tax benefits are among the measures supporting growth. Key policies such as the Production Linked Incentive (PLI) Schemes, Make in India, and the National Logistics Policy further reinforce India’s competitive edge.

     Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said,“Amidst evolving global geopolitical landscapes and economic challenges, India presents a compelling opportunity for growth. India’s manufacturing sector is on the cusp of a transformative journey, attracting significant interest on the global stage. This remarkable trajectory is driven by a combination of factors, including a stable investment environment, strategic government initiatives, and a thriving domestic market.

    Continued economic development in both leading and emerging Asia Pacific markets will boost consumer demand for manufactured goods and further fuel the growth of the region’s manufacturing sector”.

    Rami Kaushal, Managing Director, Consulting & Valuation Services, India, Middle East & Africa, CBRE, said, “India’s robust industrial infrastructure has been crucial in driving its manufacturing sector forward. It emphasises the nation’s appeal for ease of business, encourages collaboration, and enhances productivity. Furthermore, it has attracted foreign direct investments (FDIs), driven export growth, and created substantial employment opportunities, cumulatively contributing to the manufacturing sector’s expansion.

    Additionally, the government is taking steps to attract private capital and implement administrative reforms to streamline the planning and execution of infrastructure investments, aiming to improve efficiency”.

     Ram Chandnani, Managing Director, Advisory & Transactions Services, CBRE India, said, “The government’s focus on “Make in India” and “Atmanirbhar Bharat” initiatives have set the stage for India’s manufacturing revolution. Strategic government initiatives, a thriving domestic market and a young and skilled workforce, are all coming together to make India a global manufacturing leader. India’s focus on trade agreements holds immense potential for its manufacturing sector and will act as a trade catalyst. This presents a golden opportunity for India’s manufacturers to diversify from the dominance of the services sector and capture a larger share of the global manufacturing pie”.

     Way Forward: India’s Push Towards Becoming a Manufacturing Giant

    Advanced manufacturing leverages state-of-the-art technologies to streamline and optimise every aspect of the production process. By embracing these cutting-edge techniques, companies gain a significant competitive advantage, enhancing their productivity, efficiency, and adaptability.

     

    Challenge Recommendations
    Project timelines and profitability impacted by delays in land acquisition and obtaining necessary clearances -Nationwide single window clearance system.
    -Expedite land acquisition and environmental clearances.
    -Dedicated committees to oversee project planning and implementation.
    -Securing land and other necessary approvals prior to issuing project tenders.
    Complex infrastructure financing

     

    -Undertake more comprehensive longer-term planning by all levels of government.
    – Develop suitable investment vehicles and products to attract institutional investors.
    – Generate revenue streams for new / existing projects
    Lack of inter-department coordination delaying clearances / approvals
    		-Set clear objectives for all stakeholders and decision-makers.
    -Establish an accountability matrix and a timebound dispute resolution mechanism.
    Complex regulatory landscape – Adopt a uniform and simplified tax structure for infrastructure projects

    -Develop resilient processes to decode and address complex regulations.
    Limited connectivity of industrial complexes           – Adopt ‘comprehensive industrial clusters’ instead of individual parks such as textile clusters, chemical clusters, etc.
    – New port infrastructure development planning to include integrated industrial zones and comprehensive last-mile road and rail connectivity.
    Lack of a domestic container manufacturing ecosystem
    		– Include the manufacturing of Corten steel as an integral part of the policy essential to make the production of containers cheaper in India.

    – Rework the PLI scheme for container manufacturing


    Mansi Praharaj

  • A Pathway to New Horizons,” hosted by ESC, India

    27th September 2024: Shreyas Webmedia Solutions took part in the webinar “IT Opportunities for Indian Companies in Chile: A Pathway to New Horizons,” organized by the Electronics and Computer Software Export Promotion Council (ESC) India on September 26, 2024. The event hosted by the ESC India, focused on enhancing collaboration between India and Chile, especially in the IT, artificial intelligence (AI), and cybersecurity sectors, while highlighting incentives for Indian businesses looking to tap into Chile’s rapidly expanding digital ecosystem.

    Moderated by Mr. Gurmeet Singh, Executive Director of ESC, the webinar featured notable speakers including H.E. Mr. Juan Angulo, Ambassador of Chile to India, and Mr. Veer Sagar, Chairman of ESC. Mr. Singh welcomed the guests and participants, expressing enthusiasm for the role this event could play in opening new avenues of collaboration between India and Chile. He highlighted ESC’s active engagement in organizing such events in partnership with the Indian Embassy, underscoring the Council’s dedication to fostering cooperation between the two nations.

    Chile – A Rising IT Hub

    Veer Sagar, Chairman of ESC, highlighted that the Council has been organizing events like this in collaboration with the Indian Embassy to open doors to new opportunities. He emphasized that Chile is emerging as a rising hub for IT, offering significant growth potential for Indian IT firms and fostering collaboration opportunities between Chile and India.
    Ambassador’s Vision for India-Chile Cooperation

    H.E. Mr. Juan Angulo, Ambassador of Chile to India, thanked Mr. Gurmeet Singh and ESC for facilitating the dialogue, noting Chile’s strong cooperation with India over the years. He acknowledged key individuals, including Mr. Sandeep Narula and Mr. Vikrant Saxena.

    Ambassador Angulo emphasized Chile’s growth as a digital hub in Latin America, noting advancements in IT, online banking, and infrastructure. He mentioned Chile’s 34 trade agreements and investments in the digital economy but noted that only a few Indian firms have established a presence. To attract Indian companies, he highlighted tax benefits for R&D, joint ventures, and immigration support.
    He also highlighted the Start-Up Chile program, offering incentives for international tech companies to enter Chile’s innovative ecosystem.

    “Chillicon Valley” and a Positive Future

    Mr. Gurmeet Singh, in his closing remarks, coined the term “Chillicon Valley” to describe the burgeoning IT sector in Chile. He expressed his optimism about the positive impact that increased collaboration between India and Chile could bring to both nations. He thanked the Ambassador and the other dignitaries for their insightful contributions and reiterated ESC’s commitment to facilitating further engagement and dialogue.

    The webinar concluded with an interactive Q&A session, where Indian IT companies engaged directly with the speakers, exploring potential opportunities, and discussing the next steps to foster business relations between the two countries.

    This event marks another milestone in ESC’s efforts to build stronger ties between India and global markets, paving the way for Indian companies to expand into new territories like Chile. The opportunities for collaboration, along with government-backed incentives, promise to create a positive future for Indian IT firms looking to grow internationally.


    Rekha Nair

  • Workers Minimum Wage Hike: Central govt has increased the minimum wages of workers, new rates will be applicable from October 1, 2024

    Workers Minimum Wage Hike: The central government announced an increase in the minimum wage rate for workers, especially workers in the unorganized sector. The new wage rates will be effective from October 1, 2024. Know here how much minimum wage workers of which level will get.

    Workers Minimum Wage Hike: Taking an important step to support workers, especially those in the unorganized sector, the central government has announced an increase in the minimum wage rates by amending the Variable Dearness Allowance (VDA). The Ministry of Labor and Employment said in a release on Thursday that the purpose of this adjustment is to help workers deal with the rising cost of living. Know below how much wages workers of which category will get.

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    Workers engaged in various sectors including building construction, loading and unloading, watch and ward, sweeping, cleaning, housekeeping, mining and agriculture under central sector establishments will benefit from the revised wage rates. The new wage rates will be effective from October 1, 2024. The last revision was done in April 2024.

    Workers have been classified into three categories

    The minimum wage rates have been categorised on the basis of skill levels – unskilled, semi-skilled, skilled and highly skilled – as well as geographical areas – A, B and C. After the amendment, workers engaged in construction, sweeping, cleaning, loading and unloading have been placed in the “A” category for unskilled work.

    Minimum wage increased so much

    The minimum wage for unskilled work will be Rs 783 per day (Rs 20,358 per month). The minimum wage for semi-skilled work will be Rs 868 per day (Rs 22,568 per month). The minimum wage for skilled, clerk and unarmed watchman will be Rs 954 per day (Rs 24,804 per month). The minimum wage for highly skilled and armed watchman will be Rs 1,035 per day (Rs 26,910 per month).

    Wage rates are revised twice a year

    The Central Government revises the VDA twice a year, effective from 1st April and 1st October, based on the six-month average rise in the Consumer Price Index for Industrial Workers.

    Minimum wages are decided on this basis

    Detailed information about minimum wage rates according to area, category and sector is available on the website of Chief Labour Commissioner (Central), Government of India (clc.gov.in).

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  • Sensex trades 94 pts up, near all-time high; Infosys and Wipro top gainers

    Sensex, Nifty close at all-time high, led by metal and auto shares

    Indian frontline equity indices were trading near record highs as heavyweight IT stocks like Infosys, Wipro, TCS and Tech Mahindra gained after a positive revision of Accenture’s revenue guidance for FY25.

    At 9:49 a.m., Sensex was up 94 points or 0.11 per cent at 85,930 and Nifty was up 46 points or 0.18 per cent at 26,262. Sensex and Nifty made a new all-time high of 85,966 and 26,271 respectively in early trade.

    The broader market trend remained positive. On the National Stock Exchange (NSE), 1,448 shares were in the green and 824 shares in the red. Buying was also seen in the midcap and smallcap stocks.

    Nifty Midcap 100 index was up 148 points or 0.25 per cent at 60,618 and the Nifty Smallcap 100 index was up 96 points or 0.51 per cent at 19,359. Among the sectoral indices, IT, PSU Bank, Auto, Pharma, FMCG, Metal, Pvt Bank and PSE were major gainers. Fin service, Realty, Media, Energy and Infra were laggards.

    Hardik Matalia, Derivative analyst at Choice Broking said, “After a positive opening, Nifty can find support at 26,100 followed by 26,000 and 25,900. On the higher side, 26,300 can be an immediate resistance, followed by 26,350 and 26,400.”

    Sensex snaps 3-day losing streak on rebound in FMCG and Pvt Bank shares

    In the Sensex pack, Infosys, Tech Mahindra, Wipro, HCL Tech, TCS, Sun Pharma, Tata Steel, Titan, IndusInd Bank, Tata Motors, JSW Steel, Tata Motors and SBI were the top gainers. Power Grid, L&T, Bharti Airtel, M&M, Maruti Suzuki, ICICI Bank and HDFC Bank were the top losers.

    Most of the markets in Asia are trading at a brisk pace. There is a rise in Tokyo, Shanghai, Hong Kong and Bangkok. Only Seoul and Jakarta are trading in the light red. US markets closed in the green on Thursday.

    Other market experts said, “An important trend emerging in the market is the clear outperformance of large-caps over mid and small-caps. The outperformance has been pronounced during the last five trading days which saw Nifty appreciate by 2.85 per cent against a mere 0.6 per cent up move in the small-cap index.”

    They further said this is a healthy trend which can impart resilience to the market and, given the gush of domestic liquidity, take it higher. It appears that smart money is moving from mid and smallcaps to largecaps.

    The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 629.96 crore on September 26, while domestic institutional investors extended their buying as they bought equities worth Rs 2405 crore on the same day.

    (With inputs from IANS)