Is there an investment opportunity in PSP Projects shares?

Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-

Representative Image

Desperate to flatten the rising curve of Covid-19, the West Bengal government has formed as many as 23 teams, one for each district, to monitor whether protocols are being followed in different industries and shop floors.

The government has already implemented lockdown-like restrictions by shutting down shopping malls, restaurants, bars, pubs, gyms and severely restricted hours for markets. Local trains are not plying and the number of public transports including government buses and metro rail have been curtailed by 50%.

The government has also appealed to private sector offices to switch over to, or continue, work from home. It has also halved attendance in government offices.

Labour-intensive sectors

However, realising merely issuing advisories is not going to be effective, the government has set up 23 COVID vigilance committee to enforce compliance in labour-intensive industries such as jute, tea, real estate, leather.

Each of these sectors employ lakhs of blue collar workers many of whom are paid wages on daily basis.

Each committee has four members and is headed by a district deputy Labour Commissioner. They are supposed to submit weekly reports to the labour department every Thursday.

Friday at 5 pm

Every Friday at 5 pm, the Labour Minister and Labour Secretary will meet all the members of the 23 committees to take stock of the situation.

The first meeting is due on May 14 in Kolkata.

The administration has already met the industry bodies and chambers of commerce to discuss the need for strictly enforcing compliance.

After taking charge on May 5, Chief Minister Mamata Banerjee instructed the chief secretary to set up these monitoring committees, which were not in place during the first wave last year.

“The state has a one-point agenda, check the surge of infection. This is an appropriate decision and probably the first in the country,” said a labour department bureaucrat.

Industry worries

However, not everyone is happy. Indian Jute Mills Association (IJMA) has already submitted a memorandum to CM. Tea garden owners also planning to do something like that.

“The jute industry in Bengal is gasping for the oxygen. If all the restrictions are to be strictly followed for 3-4 weeks, 90% of the mills have to close down,” said Raghabendra Gupta, Chairman, IJMA, the pioneer body of jute mills owner.

Galloping numbers

On February 26, Election Commission announced the poll dates of West Bengal, Assam, Tamil Nadu, Kerala and Puducherry. On that day the number of COVID infections and COVID-related deaths in the past 24 hours stood at 216 and 3 respectively in Bengal.

The corresponding numbers of new infections and death rose to 20,136 and 132 respectively – a rise of 93 times and 44 times.

Many experts believe unbridled campaigning for a record eight-phase of polling was instrumental in spreading the infection.

Published: May 12, 2021, 13:31 IST
Exit mobile version