New Delhi, Aug 6 (IANS) The Central Government on Thursday released Rs 890.32 crore as the second instalment of the COVID-19 Emergency Response and Health System Preparedness Package to 22 states and union territories.
The financial assistance is based on the COVID-19 caseload in these regions.
The second instalment will be used for strengthening the public health facilities infrastructure for testing including procurement and installation of RT-PCR machines, RNA extraction kits, TRUNAT and CBNAAT machines and BSL-II cabinets.
The states which were given financial assistance include Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Telangana, Andhra Pradesh, Goa, Gujarat, Karnataka, Kerala, Punjab, Tamil Nadu, West Bengal, Dadra and Nagar Haveli and Daman and Diu, Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland, and Sikkim.
The aid will also be used to strengthen the public health facilities infrastructure for treatment and development of ICU beds, installation of oxygen generators, cryogenic oxygen tanks and medical gas pipelines in public health facilities and procurement of oxygen concentrators, and engagement, training and capacity building of necessary Human Resources and incentives to healthcare workforce and volunteers, including ASHAs, on COVID duties.
The first instalment of Rs 3,000 crore was released in April to all states and union territories to aid and enable them to ramp up testing facilities, augment hospital infrastructure, conduct surveillance activities along with procurement of essential equipment, drugs, and other supplies.
In his address to the nation on March 24, Prime Minister Narendra Modi had said that Rs 15 thousand crore have been provisioned for treating coronavirus patients and strengthening the medical infrastructure of the country.
"This will allow for rapidly ramping up the number of Corona testing facilities, Personal Protective Equipment (PPE), isolation Beds, ICU beds, ventilators, and other essential equipment. Simultaneously, training of medical and paramedical manpower will also be undertaken," the Prime Minister had said.
As part of this package, states and union territories have been strengthened with 5,80,342 isolation beds, 1,36,068 oxygen supported beds and 31,255 ICU beds. Also, 86,88,357 testing kits and 79,88,366 Vial Transport Media (VTM) have been procured by them.
New Delhi, Sep 28 (IANS) Investment experts have projected a positive turnaround for the ITC stock with 41 out of 43 analysts on Bloomberg giving a "buy" or "Hold" call for the stock.
As per JM Financial, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's.
ITC in FY30 could clock an FMCG EBITDA that is higher than the combined FY20 EBITDA of Nestle India, Britannia, Tata Consumer, JM Financial said.
It said that ITC's FMCG segment is possibly one of the most under-appreciated businesses in the Indian consumer space in recent times.
"We suspect the market may not have taken a holistic look yet; our understanding of Indian consumer categories tells us that ITC FMCG today addresses market opportunities that are Rs 2.1 trillion ($ 28 billion) in size in aggregate. Even if one excludes a couple of nascent Dairy products from the portfolio, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's," it added.
"Profitability is low at present, but we reckon that with investment-phase largely done (though some new categories are still in incubation stages), profits and cash-generation would get much bigger here onwards," the report said.
As per Centrum Broking, "In our deep dive analysis into ITC's foods business we conclude that it is at the cusp of a take-off both in terms of top-line and margins."
"ITC is emerging as a foods company, more comparable to Nestle than HUL. Branded packed food consistently gaining saliency given the management focus (saliency increased from 71 per cent of other FMCG in FY14 to 81 per cent in FY20)," it added.
It is the only company which has successful brands from staples (Aashirvaad) to RTC and RTE (Sunfeast, Bingo, Yippee etc.).
ITC has made consistent investments in brand building over the past decade helping create brands across the branded packed food categories from staples a and dairy to RTC and RTE. Aashirvaad, Sunfeast, Bingo and Yippee now account for Rs 60 billion, 40 billion, 27 billion and 13 billion in consumer spend terms.
As per BNP Paribas, there is a faster than expected recovery in ITC's cigarette business. The catalyst for ITC is a faster than expected recovery in cigarette volumes and higher than expected margin expansion in the FMCG business.
As per B&K Securities, a turnaround in cigarette volumes is expected from September onwards. "We believe the gradual lifting of start/stop lockdowns in most states, opening up of bars/clubs in some states and more attendance in offices due to lesser fears from Covid-19 will lead to the marginal smoker slowly coming back. Given the fact that 30 per cent of the smokers' user base comprises of non-regular smokers who have been impacted by the start/stop lockdowns, we feel the industry figures will start looking up from September 2020," it added.