Indian companies are heading straight to the stock market with inexplicable vitality even amid the pandemic. The pipeline of new issues resolved by Sebi this year is already worth around Rs 34,000 crore.
Illustration by Raj Verma
mumbai,published date: July 19, 2021 | Updated: July 26, 2021 3:58 PM IST
Despite the pandemic taking a toll on people's lives and livelihoods, the Indian stock market seemed completely unaffected and roared on, almost as if in a parallel universe. The bleak economic outlook hasn't dampened the stock market's exuberance. The Bombay Stock Exchange (BSE) Sensex rose 82% in about 15 months from 29,468 on March 31, 2020 to 53,880 on July 7 this year. According to a State Bank of India (SBI) report, 14.2 million new individual investors joined the stock market in 2020-21, a year in which the economy was hit hard by COVID-19.