Registration Of Companies Increased By 35 Percent In February
Registration of companies increased by 35 percent in February, business activity caught up despite the Corona period.
Despite the Corona period, business activity continues to grow. The number of companies registered in the month of February this year has increased by 35 percent over the previous year.
According to data from the Ministry of Corporate Affairs, 14,094 companies were registered in February this year as compared to 10,429 companies registered in February last year.
Despite the decrease in economic activity due to coronavirus and the lockdown applied to prevent it, there has been a significant increase in the registration of companies.
According to the ministry data, there was a spurt in the registration of companies from July last year and since then the number of new companies registered every month, except January, was higher than the previous year.
According to the ministry data, the majority of the companies registered are private companies.
Out of 14,094 companies registered in the month of February this year, 13,809 are private companies. Of these 765 companies are one man.
Starting from April 1st, one-man companies are going to get many facilities. According to the new rules of the ministry, a one-man company can be changed into a private or public company by increasing the number of members and directors in the company.
Previously NRIs could not join a one-man company, but now any Indian citizen living abroad will be able to join a one-man company.
Earlier, NRI had to stay in India for 182 days to be considered a resident of India, now this limit has been reduced to 120 days.
Stock Market: Sensex opens, shares in banking and finance sector up with 360 bounce.
The domestic stock market opened with a significant increase on Thursday. Sensex based on 30 shares of BSE was trading 361.86 points, or 0.73 percent, at the level of 50,163.48 points at 09:54 am.
Bajaj Finance shares were seen growing at the highest 2.26 percent. Maruti’s stock was seeing a gain of 2.08 percent.
Similarly, Mahindra & Mahindra, ICICI Bank, SBI, IndusInd Bank, Larsen & Toubro, ITC, Axis Bank, HDFC Bank, ONGC, Bajaj Auto, Ultratech Cement, HDFC, Bajaj Finzerv, Titan.
PowerGrid, Tech Mahindra, Kotak Mahindra Bank, Reliance Industries, NTPC, Hindustan Unilever Limited, Asian Paint, Bharti Airtel, Sun Pharma, and Nestle India were trending against the green mark.
