Indian Indices have continued the market Bull rally with Wednesday also a positive day for the major indices. Both Sensex has come close to the mark of 50,000 and Nifty50 have closed near the days high. But Nifty Bank though closed in positive but is less compared to other indices.
Nifty Auto and IT are the outperformers in todays session.
IPO News
Today is the last day for subscribing to IRFC IPO. The IPO was subscribed fully by the closing time. Thought the subscription started in a tepid manner on the first day of subscription by the end of last day the IPO was subscribed fully in all portions. The IPO was likely to be issued at the upper price band as this is an oversubscribed IPO. The Allotment of the Shares will be finalized by 25th January and the shares are Listed on the stock exchanges on 29th January. head over to IPO page to get the updates and the link for allotment once available
Indigo Paints IPO subscription started today and will be available to subscribe for 3 days. The IPO was subscribed fully on the first day and has seen some good response from the investors. The below are the details of the subscription
President Pardons
As expected right from the time of election, trump may be pardoning a group of individuals before leaving the office. On the last day at the white house Donald Trump 45th President of United states Pardoned couple of people including former White House aide Steve Bannon.
Trump was not expected to pardon himself, members of his family or lawyer Rudy Giuliani, who was at the forefront of unsuccessful efforts to get the results of the 2020 presidential election overturned, according to sources.
Trump also pardoned rappers Lil Wayne and Kodak Black who were prosecuted on federal weapons offenses, as well as former Detroit Mayor Kwame Kilpatrick, who was serving a 28-year prison term on corruption charges, a senior administration official said.
Immigration orders
As soon as taking the office as the 46th President of the United states Joe Biden plans to list the travel restriction for immigrants kept in place by Donald Trump.
Donald trump has kept travel immigration restriction on the Muslim countries. And also trump has earlier announced the construction of wall on US Mexico Border. Joe Biden is expected to lift these restriction and also stop the construction of the wall at the US Mexico Border.
Joe Biden is the 46th President of the United states and the inaugural is on 20th January 2021.
Joe also plans to send a bill to Congress to revamp immigration policies and give millions of undocumented migrants living in the country a path to citizenship that the Trump administration denied.
Farmers Tractor Rally on Republic Day
Farmers Union has planned a tractor rally on Republic day in a continuation of attacks against the government with the demand to withdraw the three farm laws which are passed by the Union last year. Earlier The supreme court of India has order and formed a committee to discuss the farm laws and mediate between the farm unions and the central government. But Supreme court have also said that the problem of tractor rally is a police issue and the court has nothing do with it.
The centre on Jan 20 has filed a petition in the court seeking an injunction against the tractor rally claiming it would malign the nation globally.
The top court told the Centre that it was not for the court to pass orders and the Centre was an authority with it while hearing a plea against proposed tractor rally on January 26, news agency PTI reported.
“We have told that it is for the police to decide. We won’t pass the orders. We will allow you to withdraw this application. You are the authority. You decide.,” Chief Justice of India (CJI) Sharad Arvind Bobde was quoted by Livelaw.in.
Centre to Facebook on New WhatsApp Policy
Earlier WhatsApp has announced the new privacy policy which is a must for the users to accept in order to continue using the service. This new policy is the continuing effort of the company to use the large user base to provide service and generate the revenue. But this new policy has received a lot of citicism from all the groups of people across the country.
Earlier as per the official data, the policy need to be accepted before 8th February or else the user cannot use the app and the account will be deleted. But due to lot of criticism, WhatsApp has announced that it is delaying the privacy policy implementation to later this year. This is to cool down the criticism that the social media giant is receiving concerning the privacy of the users and also affecting the users. Lot of users have already switched to other apps such as Telegram and Signal which value privacy as the top priority as claimed by these companies.
But as the new move the central government of India have sent a notice to Facebook asking it to permenantly stop the new privacy policy changes.
The demand creates a new headache for WhatsApp and its U.S. parent Facebook, which have placed big bets on the South Asian nation to expand their payments and other businesses.
India’s technology ministry has asked WhatsApp to withdraw changes to its privacy policy the messaging platform announced earlier this month, saying the new terms take away choice from Indian users as reported by reutters.
