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Equities gain marginally on positive global cues

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BSE

Mumbai:  Indian equities markets traded with marginal gains during the mid-afternoon trade session on Friday as positive global cues buoyed investors’ sentiments. The key indices traded on a flat note — marginally in the green — as healthy buying was witnessed in banking, IT and consumer durables stocks. However, caution prevailed ahead of the release of a key macro-economic data point — the Index of Industrial Production (IIP). The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 11.80 points or 0.13 per cent to 8,790.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,367.17 points, traded at 28,349.29 points (at 1.30 p.m.) — up 19.59 points or 0.07 per cent, from the previous close at 28,329.70 points. The Sensex has so far touched a high of 28,456.18 points and a low of 28,319.47 points during the intra-day trade.

The BSE market breadth was slightly tilted in favour of the bulls — with 1,357 advances and 1,332 declines. According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, while IT stocks traded with firm sentiments, banking, pharma and cement stocks faced selling pressure at higher levels. “Auto, oil-gas, textile, aviation, FMCG and power stocks traded with sideways sentiments due to short covering at lower levels,” Desai added. On Thursday, the NSE Nifty had inched up by 9.35 points or 0.11 per cent to close at 8,778.40 points, while the BSE Sensex was up 39.78 points or 0.14 per cent at 28,329.70 points.

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Opportunity in disaster PM say but it come’s to true by Hriday Pai in Manguluru.

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While several businesses were hit due to the lockdown, new businesses were also established. The pandemic changed the life of Hriday Pai, who was all set to move to Canada and begin work there. Forced to stay back, and with his textile store closed, he decided to launch an organic outlet ‘My Brand’.
Hriday was feeling low when he realized that his Canada plan may not materialize.
His father Annu Mangalore said, “I told Hriday to work on a proposal. Along with other fruits and vegetables, we decided to brand jackfruit based on the colour—red, orange, and yellow—and to our surprise, the demand for red is high, and since the outlet’s launch on June 1, we have managed to sell about 10 tonnes of jackfruit. We also do doorstep delivery of ready-to-eat jackfruit bulbs that are hygienically packed, for which the demand is increasing.” Annu said that he plans to open 9 more stores by the end of this year. The fruit is sourced from Doddaballapur and Tumakuru.
Chandramouli Shenoy, proprietor, MVS Fruits, said, “I am a third generation fruit trader, and after an interaction with experts at ‘Halasu Mela,’ before the pandemic, I decided to introduce jackfruit at my store for the first time, two months ago. After the produce arrived, I shared it on WhatsApp, and to my surprise, I received nearly 100 calls. People wait for the stocks to arrive. People’s awareness about the fruit is also increasing,” he said. Shenoy has managed to sell 9 tonnes of jackfruit.
Mangaluru’s success in selling jackfruit during the Covid-19 crisis is a clear indication that there is a good demand for fruits, provided they are served hygienically. Probably, for the first time, doorstep delivery of jackfruit or only bulbs has been taken up, said Shree Padre, global ambassador for jackfruit in India. “The Gowd Saraswat Brahmin factor has worked for Mangaluru. The community is always on the lookout for quality fruit. There is a latent demand for jackfruit in urban areas, and unfortunately, so far, there was no effort to procure the jackfruit being sold on the footpath, and sell it from a clean and decent shop. Time has also come for an exclusive outlets that sell jackfruit in the form of the whole fruit, pre-packed, value-added products with a longer shelf life as well as a counter that will serve jackfruit preparations such as a smoothies, milkshakes, pedas, ice-creams, and other products,” he added.
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