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moneycontrol.com
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https://www.moneycontrol.com/news/business/rupee-volatility-surge-puts-rbi-s-currency-strategy-in-focus-12900390.html
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Rupee volatility surge puts RBI’s currency strategy in focus
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Sanjay Malhotra, governor of the Reserve Bank of India (RBI), during a news conference in Mumbai, India, on Wednesday, Dec. 11, 2024. Indias newly-appointed central bank governor Malhotra said he will look to uphold stability and continuity in policy in his role..Related stories.
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A gauge of the Indian rupee’s volatility jumped to its highest level in over a year, as speculation grows that the nation’s central bank may be easing its tight grip on the currency amid a strong dollar. The rupee’s one-month implied volatility versus the greenback rose to as much as 4.09% on Monday, the highest since August 2023. This marks a shift from the currency’s recent stability, which saw the volatility gauge hit a record low this August. Traders say the spike suggests a possible shift in the Reserve Bank of India’s strategy. “The RBI may actually allow a little more volatility given the various risks of low volatility such as complacency in terms of domestic hedging activity,” said Mitul Kotecha, head of Asian FX and EM macro strategy at Barclays Bank Plc. Also, “capping INR volatility means that the currency may not adjust as quickly and could be prone to eventually larger moves.” The new RBI Governor Sanjay Malhotra, who took over from a regime known for intervening firmly in the currency market, has yet to comment on the central bank’s foreign-exchange strategy. “There’s some change in policy happening especially after the leadership change at the RBI, but that had been in the offing for a while,” said Dhiraj Nim, economist at Australia & New Zealand Banking Corp. “The domestic growth slowdown to global headwinds, everything is possibly pointing to a weaker rupee from hereon.” The rupee fell as much as 0.7% versus the dollar to a new low on Friday, with the currency capping its worst week since March. The currency took almost 14 months, from September 2023 through October 2024, to weaken from 83 to 84 per dollar. In contrast, it took just two months for the currency to fall past the 85 mark. To be sure, the rupee is still firmly placed in the list of low-volatility currencies, ranking below the Chinese yuan, the Malaysian ringgit, the Indonesian rupiah and the Philippine peso in a Bloomberg index. The rupee has weakened 2.8% versus the dollar so far in 2024, faring better than most Asian peers. Still, the pressure on the yuan, concerns over potential US tariffs and slowing local growth pose headwinds for the rupee. Additionally, India’s 40-currency trade-weighted real effective exchange rate, a measure of competitiveness, hit an all-time high of 108.14 in November, indicating an overvaluation of more than 8%.
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2024-12-30 18:21
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2024-12-30
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18:21
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moneycontrol.com
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https://www.moneycontrol.com/news/world/how-mossad-found-out-about-ex-hezbollah-commanders-4-mistresses-and-desperate-plan-to-marry-them-12900365.html
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How Mossad found out about ex-Hezbollah commander's 4 mistresses and his desperate plan to marry them
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Mourners carry flags and a picture of Hezbollah senior commander Fuad Shukr, who was killed in an Israeli strike. (File photo/Reuters).Related stories.
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Israel's spy network, Mossad, infiltrated so deeply into all aspects of Hezbollah’s leadership that it even found out about one of its senior commander, Fuad Shukr, who had four mistresses and desperately planned to get married to all of them over the phone, according to a new report. Shukr was a co-founder of Hezbollah and was a key figure in the Lebanon-based terror group’s command chain. During the surveillance, Mossad learned that Fuad Shukr allegedly felt "guilty" of juggling four women at once and wanted to marry all of them to correct his feelings, Israel and European officials, with knowledge on the spying, were quoted as saying by the New York Times. Israel's intelligence service has spent decades collecting information on him until they could track his every move. Mossad learned of his extramarital affairs, which the Hezbollah commander kept hidden until he sought help in 2024 from the group’s highest religious cleric, Hashem Safieddine, according to NY Times. The cleric set up separate over-the-phone wedding ceremonies for Shukr and each of his four mistresses. However, it is unclear when the marriages took place, the report said. Safieddine, the cleric, was killed in an airstrike after being named the successor to slain leader Sayyed Hassan Nasrallah. Meanwhile, on July 30, Fuad Shukr reportedly received a phone call luring him out of his secret hiding place in the southern Beirut neighborhood of Dahiyeh, where an Israeli missile struck, killing him. One of his wives and two children were also killed. Shukr, who had been seen as ever-elusive following the 1983 bombings in Beirut that killed 241 American Marines, was among the hundreds of Hezbollah commanders being tracked by Israel since the end of the 2006 war.
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2024-12-30 18:19
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2024-12-30
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18:19
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moneycontrol.com
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https://www.moneycontrol.com/technology/vijay-sales-apple-days-sale-announced-deals-and-discounts-on-iphone-16-macbook-air-and-airpods-and-more-article-12900266.html
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Vijay Sales Apple Days sale announced: Deals and discounts on iPhone 16, MacBook Air and AirPods and more
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Apple Days.
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Online and offline electronic retail store, Vijay Sales, has announced an Apple Days sale. During the ongoing sale, the store is offering deals and discounts on Apple products, including iPhones, iPads, Apple Watches, AirPods and MacBooks Vijay Sales Apple Days sale: DatesThe sale is already live and it will continue till January 5, 2025. The deals and discounts will be applicable across all Vijay Sale stores across the country along with the website. Vijay Sales Apple Days sale: Bank discountsCustomers using ICICI Bank, SBI, or Kotak Mahindra Bank cards can avail of an instant discount of up to Rs 10,000. Additionally, an exchange bonus of up to Rs 10,000 is available at Vijay Sales stores. Vijay Sales Apple Days sale: DiscountsThe sale also features discounts on store display units, such as the iPhone 13 starting at Rs 32,900 and the MacBook Air M3 at Rs 79,000. Customers purchasing Apple devices can get up to 20% off on Protect+ plans. Vijay Sales’ MyVS loyalty program offers 0.75% loyalty points on every purchase.ModelPrevious Price (Rs)Apple Days Price (Rs)Instant Discount (Rs)Bank Effective Price (Rs)Loyalty Points (Rs)iPhone 16 Pro 128GB1,19,9001,06,9003,0001,03,900802iPhone 16 Pro 256GB1,29,9001,16,4003,0001,13,400873iPhone 16 Pro 512GB1,49,9001,35,4003,0001,32,4001,016iPhone 16 Pro 1TB1,69,9001,54,4003,0001,51,4001,158iPhone 16 Pro Max 256GB1,44,9001,30,6503,0001,27,650980iPhone 16 Pro Max 512GB1,64,9001,49,6503,0001,46,6501,122iPhone 16 Pro Max 1TB1,84,9001,68,6503,0001,65,6501,265CategoryStarting Price (Rs)Bank Discount (Rs)Effective Price (Rs)Loyalty Points (Rs)iPhone 16 (128GB)70,9004,00066,900532iPhone 16 Plus (128GB)79,4904,00075,490596iPhone 16 Pro (128GB)1,06,9003,0001,03,900802iPhone 16 Pro Max (256GB)1,30,6503,0001,27,650980iPhone 15 (128GB)60,4903,00057,490454iPhone 15 Plus (128GB)69,3003,00066,300520iPhone 14 (128GB)49,9901,00048,990375iPhone 14 Plus (128GB)64,290-64,290482iPhone 13 (128GB)43,9001,00042,900329iPad 10th Gen32,4993,00029,499244iPad Air 11 Inch54,4994,00050,499409iPad Air 13 Inch72,9994,00068,999547iPad Pro 11 Inch90,8994,00086,899682iPad Pro 13 Inch1,18,1994,0001,14,199886MacBook Air with M3 Chip1,03,39010,00093,390775MacBook Air with M2 Chip89,89010,00079,890674MacBook Air with M1 Chip68,8905,00063,890517MacBook Pro with M4 Chip1,52,9005,0001,47,9001,147MacBook Pro with M4 Pro Chip1,79,9005,0001,74,9001,349MacBook Pro with M4 Max Chip2,87,9005,0002,82,9002,159Apple Watch Series 1043,5992,50041,099327Apple Watch Series SE (2nd Gen)23,1992,00021,199174Apple Watch Series Ultra 283,5994,00079,599627AirPods 412,2491,00011,24992AirPods 4 with ANC17,9001,50016,400134AirPods Pro (2nd Gen) with USB-C23,4902,00021,490176Beats Solo Buds5,4905004,99041
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2024-12-30 18:14
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2024-12-30
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18:14
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moneycontrol.com
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https://www.moneycontrol.com/news/business/personal-finance/yearender-2024-five-tax-saving-hacks-that-can-reduce-your-outgo-in-2025-12900341.html
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Yearender 2024: Five tax-saving hacks that can reduce your outgo in 2025
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Tread carefully while making tax-saver investments at the time of filing your final investment declarations in January.Related stories.
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It’s that time of year again. And no, the reference is not to the new year, but the annual task that awaits most salaried employees on the other side of January — submitting proof of tax-saving investments during the financial year to their employers. At the beginning of every financial year, in April, employers ask their employees to file their proposed investments. You also have to indicate the tax regime you wish to choose — the old, with-exemptions one, or the simpler new tax regime, which is now the default option. This is meant to indicate the tax deductions one intends to claim during the year, so that these can be taken into account while computing the income tax to be docked from the employee’s salary. In January or February, employees have to submit proof of having made these investments to enable employers to finalise the tax to be deducted over the last three months of the financial year. Per finance ministry data, 72 percent of taxpayers have already shifted to the new tax regime in FY 2023-24. The tax planning process ought to begin in April, rather than at the last minute just before submitting the proof. Nevertheless, many still end up repeating the same mistake every year. “Taxpayers must plan ahead to maximise tax deductions. While the government is incentivising the new tax regime, the fact remains that the old structure promotes disciplined savings, contributing to taxpayers’ overall goal-based planning,” says Sudhir Kaushik, Co-Founder, TaxSpanner.com, a tax consultancy firm. Here are five tax-saving hacks you can use, that will take you closer to your financial goals: NPS Private sector employees who contribute up to 10 percent of their basic salary plus dearness allowance, if any, to the National Pension System (NPS) are eligible for deductions under section 80 CCD (1) of the Income Tax act under the old regime. This is subject to the overall 80 C limit of Rs 1.5 lakh. Moreover, they can contribute an additional Rs 50,000 to NPS to claim the tax break under section 80 CCD (1B). However, Kaushik believes that it’s the corporate NPS deduction under section 80 CCD (2) that can significantly reduce your tax payable. “You must sign up if your employer offers this option. This is available under both the regimes,” he says. Under the old regime, your employer’s contribution of up to 10 percent of your basic salary is exempt from tax. If you choose the new regime, this will go up to 14 percent. According to analytics and advisory firm Taxmann’s calculations, employees who earn up to Rs 8.21 lakh and opt for corporate NPS under the new tax regime will not have to pay any tax, subject to some conditions. “Corporate NPS, if offered by employers, is a good avenue for reducing your tax outgo under both the regimes. The limit was increased to 14 percent under the new regime in the Julybudget. Now, whether or not employers allow this increased deduction during the year is entirely dependent on the employers’ internal policies,” says Abhishek Soni, CEO and Co-Founder, TaxWin, a tax consultancy portal. There is another point you need to bear in mind. “Employers allow you to give your tax declaration at the beginning of the financial year. But even if your employer does allow you to do this in January, do note that you can maximise your tax benefit if you start earlier in the financial year,” says Kuldip Kumar, Partner, Mainstay Tax Advisors. PF, home loan principal Despite an increase in financial literacy, many salaried people leave investing in tax-saving investments for the last minute. Blindly investing to exhaust the Rs 1.5 lakh limit under section 80 C without taking into account existing investments can lead to needless exposure to avenues that do not offer liquidity until maturity. Equity-linked saving schemes (ELSS), for instance, have a lock-in period of three years. It is five years in the case of unit-linked insurance policies (Ulips) and tax-saving fixed deposits (FDs). “Your (employee's) provident fund (PF) contribution is eligible for tax deduction under this section, as is the home loan principal you've repaid. Yet, many taxpayers ignore these and scout for ELSS, tax-saving FDs, etc, come January, resulting in over-investment in instruments that come with a lock-in,” says Kaushik. Children’s tuition fees This only requires you to preserve copies of your children’s tuition fees paid during the year. Under section 80 C, you can avail of tax deductions for school / college tuition fees paid for up to two children, subject to the maximum of Rs 1.5 lakh; both spouses can avail of this deduction separately to optimise the tax break. For instance, if the tuition fee paid is Rs 2.5 lakh, the wife can claim deductions of up to Rs 1.5 lakh and the husband can utilise the balance Rs 1 lakh. Moreover, even your kid’s nursery tuition fees would be eligible for deduction. However, charges related to donation fees, school bus, extra-curricular activities, and so on will not qualify for this tax break. Medical expenses for senior citizens Under section 80 D, deduction of the health insurance premium is a popular tax break. However, senior citizens who do not have health insurance can avail of deductions of up to Rs 50,000 on medical expenses during the financial year. If their children fund these expenses, they too will qualify for the tax benefits. Tax-saving with help from employers You can, provided your employer offers such options, restructure your salary to claim reimbursements and minimise tax impact. “If the employer provides a car to the employee for personal and official use, it is taxed at a concessional rate at Rs 1,800 / 2,400 per month, depending on the cubic capacity,” says Kumar Such reimbursement-linked tax-savings can slash your outgo substantially. “Tax-free perquisites and employee benefits offered by employers can help even those with a cost-to-company (CTC) of, say, Rs 20 lakh reduce their tax outgo to zero under the old regime,” says Kaushik. Choose the tax regime carefully Most employers do not give the option of switching between regimes during the financial year — typically, you have to make the decision in April. However, you can switch when filing your returns in July. “Ensure that you avail of all the deductions you are entitled to when you file your returns and claim refund on excess tax withheld by your employer,” says Kumar.
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2024-12-30 18:06
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2024-12-30
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18:06
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moneycontrol.com
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https://www.moneycontrol.com/news/business/banks/soon-you-can-look-up-beneficiary-bank-account-name-for-rtgs-neft-payments-12900378.html
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Soon, you can look up beneficiary bank account name for RTGS, NEFT payments
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Soon, you can look up beneficiary bank account name for RTGS, NEFT payments.Related stories.
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Reserve Bank of India on December 30 announced the introduction of beneficiary account name look-up facility for Real Time Gross Settlement (RTGS) System and National Electronic Funds Transfer (NEFT) Systems. "Currently, the Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) systems enable a remitter to verify the name of the beneficiary before initiating transfer. It has been decided to put in place a similar facility that would enable a remitter to verify the beneficiary bank account name before initiating a transaction using RTGS or NEFT system. Accordingly, National Payments Corporation of India (NPCI) has been advised to develop the facility and onboard all banks," said RBI in a circular. Based on the account number and IFSC of the beneficiary entered by the remitter, the facility will fetch the beneficiary’s account name from the bank’s Core Banking Solution (CBS). All banks who are direct members or sub members of RTGS and NEFT will have to offer this facility no later than April 1, 2025, said RBI. Banks which are participants of RTGS and NEFT Systems, shall make this facility available to their customers through internet banking and mobile banking. The facility shall also be available to remitters visiting branches for making transactions, added RBI. To ensure uniform experience for customers, the banks shall adhere to the instructions given below: * Provision to verify beneficiary bank account name shall be provided in Internet banking and Mobile banking facilities at the time of registering a beneficiary and at the time of one-time fund transfer where the beneficiary may not be registered. * Provision to re-verify a registered beneficiary at any time shall also be provided. * Beneficiary account name provided by the beneficiary bank shall be displayed to the remitter. * In case the beneficiary name cannot be displayed for any reason, the remitter can proceed with the fund transfer, at her discretion. * Specific alert messages as provided in the technical document, issued earlier by NPCI, shall be displayed to the remitter.
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2024-12-30 18:02
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2024-12-30
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18:02
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/mazagon-dock-bags-defence-ministry-contract-for-submarines-12900362.html
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Mazagon Dock bags Rs 1,990 crore Defence Ministry contract to enhance submarine endurance
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The project involves construction of AIP-Plug and its integration, and will enhance the endurance of conventional submarines, contributing towards 'Aatmanirbhar Bharat'..
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Major shipyard Mazagon Dock has bagged a contract from the Defence Ministry worth around Rs 1,990 crore for the construction of a Air Independent Propulsion (AIP) Plug for DRDO as well as its integration, a statement from the ministry said on December 30. The project involves construction of AIP-Plug and its integration, and will enhance the endurance of conventional submarines, contributing towards 'Aatmanirbhar Bharat'. AIP acts as a force multiplier on a diesel-electric submarine, as it enhances the submerged endurance of the boat by several folds. Air-Independent Propulsion (AIP) allows submarines to operate underwater without needing to surface for oxygen. Several non-nuclear vessels can now operate without using atmospheric oxygen because of this advancement in propulsion. DRDO has developed this technology with the support of industry partners L&T and Thermax. The government release said the submarine contract would generate employment worth nearly three lakh man days. Government also signed a Rs 877 crore contract with Naval Group of France, to integrate Electronic Heavy Weight Torpedo (EHWT), to augment fire power capabilities of Kalvari-Class submarines. Both the contracts were signed in the presence of Defence Secretary Rajesh Kumar Singh, in New Delhi.
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2024-12-30 17:59
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2024-12-30
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17:59
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/mc-exclusive-easemytrip-s-co-founder-to-sell-remaining-stake-for-rs-780-crore-12900366.html
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MC Exclusive: EaseMyTrip's co-founder to sell remaining stake for Rs 780 crore
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According to Moneycontrol's sources, institutional investors such as CRAFT Emerging Market Fund PCC - Citadel Capital Fund and CRAFT Emerging Market Fund PCC - Elite Capital Fund have shown an interest in the block deal..
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EaseMyTrip's co-founder Nishant Pitti will sell his remaining stake in the company, of 14 percent, for Rs 780 crore on December 31, according to sources. EaseMyTrip is the brand operated by the listedEasy Trip Planner. Pitti is expected to sell 50 crore shares at Rs 15.6 per unit. According to Moneycontrol's sources, institutional investors such as CRAFT Emerging Market Fund PCC - Citadel Capital Fund, CRAFT Emerging Market Fund PCC - Elite Capital Fund, Multitude Growth Funds Limited, Nexpact Limited and Eminence Global Fund are likely to participate in the block deal. Previously, Moneycontrol was the first to report that Pitti was expected to sell 15 crore shares of 8.5 percent of the total share capital in a block deal on September 25. The floor price per share was expected to be Rs 38 for a total transaction value of nearly Rs 580 crore. On September 25, Pitti sold 24.65 crore shares or 14 percent of the total share capital for Rs 37.11 to Rs 38.28 per unit, totalling to Rs 920 crore.
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2024-12-30 17:58
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2024-12-30
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17:58
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moneycontrol.com
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https://www.moneycontrol.com/news/india/bpsc-protest-in-bihar-opposition-senses-opportunity-amid-students-face-off-with-govt-12900371.html
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BPSC protest in Bihar: Opposition senses opportunity amid students' face-off with govt
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Aspirants stage a protest demanding cancellation of Bihar Public Service Commission's (BPSC) December 13 combined preliminary exam over the alleged paper leak in Patna. (PTI Photo).Related stories.
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A row over the students' protest against alleged irregularities in the in the Bihar Public Service Commission (BPSC) preliminary examination boiled over on Sunday as Bihar Police used water cannons and resorted to a lathi charge to disperse hundreds of civil service aspirants agitating over their demands. The clash occurred near Chief Minister Nitish Kumar’s residence in Patna when protesters attempted to breach barricades. The demonstrators, who have been staging protests since December 18, are demanding the cancellation and re-conduct of the BPSC prelims held on December 13 across 912 centers. Students have levelled allegations of non-functional CCTV cameras, faulty jammers and delayed distribution of question papers at test centres. The BPSC, however, has only agreed to reschedule the exam for candidates from one Patna center where an official passed away due to a heart attack amid chaos. Understanding the boiling students protest The recruitment process, which began with an advertisement in September 2024, attracted 4,83,000 applicants. Of these, 3,25,000 candidates appeared for the examination, competing for 2,031 posts, including 200 Sub-Divisional Magistrates (SDMs) and 136 Deputy Superintendents of Police (DSPs). The scale of this vacancy has made the controversy particularly contentious. Opposition parties, including the Rashtriya Janata Dal (RJD), Congress, CPI (M-L) and Jan Suraaj, have rallied behind the students, accusing the government of mishandling the examination process and jeopardising the future of aspirants. The BPSC has dismissed the allegations as "irrational", urging candidates to focus on preparing for the mains examination. With nearly 3.8 lakh candidates having appeared for the December 13 prelims, the controversy has put the future of thousands in limbo. The BPSC and the Bihar government face mounting pressure to address the grievances of the aspirants and ensure a fair resolution to the crisis. Prashant Kishor joins protesters On Sunday afternoon, thousands of students gathered near Patna’s Gandhi Maidan when poll strategist and Jan Suraaj Party founder Prashant Kishor held a ‘Youth Congress Samvad’. During the four-hour long interaction, Kishor criticised the BPSC for rescheduling the exam for only one center despite complaints of irregularities across multiple venues. “How can BPSC reschedule the examination for just one center? There should be a level playing field amid complaints of delayed distribution of question papers, non-functional CCTV cameras and jammers at several other centers. Students are justified in seeking fresh prelims for all 912 examination centers,” Kishor said. As protesters marched toward the Chief Minister’s residence, police personnel, heavily deployed near the JP roundabout, initially attempted to disperse the crowd with warnings. When the protesters forcibly removed barricades, police responded with water cannons and a lathi charge, injuring several demonstrators. Prashant Kishor, who was sitting in a dharna with the candidates, managed to evade police action. However, an FIR was lodged against him and 19 others at the Gandhi Maidan Police Station. Several injured protesters were taken to a nearby government hospital for treatment. After being blocked from reaching the Chief Minister’s residence, the Patna administration offered a delegation of five aspirants the opportunity to meet Chief Secretary Amrit Lal Meena. The protesters, however, were divided over whether to accept the offer. Amid the confusion, Kishor reportedly left the protest site, but the students vowed to continue their agitation until their demands were met. Later today (December 30), Kishor alleged large-scale corruption in the recruitment process, claiming that “thousands of crores of rupees have changed hands” for appointments through the BPSC exam. Expressing dismay at Chief Minister Nitish Kumar's silence, Kishor said, “The candidates are protesting in biting cold, braving baton charges and water cannons. The Chief Minister is away in Delhi, enjoying himself and hasn’t uttered a word about the stir that has been ongoing for nearly two weeks.” A former close aide of Nitish Kumar, Kishor further criticised the CM for ignoring the plight of students and demanded the cancellation of the prelims and a fresh examination. On Monday, he announced an indefinite stir beginning January 2 to pressure the government into accepting the students' demands.
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2024-12-30 17:57
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2024-12-30
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17:57
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moneycontrol.com
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https://www.moneycontrol.com/news/india/close-kin-of-judges-for-hc-judgeship-sc-collegium-may-consider-idea-against-it-12900372.html
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Close kin of judges for HC judgeship: SC collegium may consider idea against it
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Close kin of judges for HC judgeship: SC collegium may consider idea against it.Related stories.
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The Supreme Court collegium may consider an idea against the appointment of close kin of judges in high courts, sources said. The proposal was said to be mooted by a senior judge, and if acted upon, could bring more inclusivity in such appointments and erase the perception of lineage outweighing merit in judicial appointments. According to sources, the collegium could consider the idea of instructing high court collegiums to refrain from recommending candidates whose parents or close relatives were current or former Supreme Court or high court judges. While this proposal may disqualify some deserving candidates, one of the sources believed it would open up opportunities for first-generation lawyers and broaden the representation of diverse communities in constitutional courts. However, this may lead to unjust denial of judgeship to deserving people just because they are related to sitting or former judges of the higher judiciary, added the source. The three-member collegium, which recommends names for the judgeship in the apex court at the moment, comprises Chief Justice of India Sanjiv Khanna and Justices B R Gavai and Surya Kant. Justices Hrishikesh Roy and Abhay S Oka are also part of the larger five-member SC collegium that decides and recommends names for judgeship in high courts. The apex court collegium recently started personal interactions with lawyers and judicial officers recommended for elevation in the high courts, marking a significant leap from the traditional biodata, written assessments and intelligence reports. The SC collegium held its meetings on December 22 and recommended about six names to the Centre for appointment as judges in high courts at Rajasthan, Uttarakhand, Bombay and Allahabad. The need to reintroduce personal interactions seems to have gathered steam after a recent controversy involving Justice Shekhar Kumar Yadav of the Allahabad High Court. Justice Yadav’s contentious remarks at a VHP event in December, when he called for India to function according to the majority’s wishes, had sparked widespread criticism. Justice Yadav appeared before the Supreme Court collegium on December 17 to put forth his version on the controversy. The top court on December 10 took note of news reports over the statements and sought a report from the Allahabad High Court on the issue. "The Supreme Court has taken note of newspaper reports of a speech given by Mr Justice Shekhar Kumar Yadav, a sitting judge of the High Court of Judicature at Allahabad. The details and particulars have been called from the high court and the matter is under consideration," an official statement said earlier. According to the established norm, a judge, against whom a report is sought by the apex court collegium on any controversial issue from the high court concerned, is given opportunity to put forth his or her version before the top court collegium headed by the chief justice of India.
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2024-12-30 17:55
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2024-12-30
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17:55
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/quadrant-future-tek-plans-to-launch-rs-290-crore-ipo-on-january-7-12900363.html
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Quadrant Future Tek to launch Rs 290-crore IPO on January 7
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Quadrant Future Tek IPO.Related stories.
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Quadrant Future Tek, which develops train control and signalling systems, plans to raise Rs 290 crore via initial share sale. The first public issue of the new year 2025 will open for subscription on January 7, and close on January 9. The anchor book for institutional investors will be launched for a day on January 6, while the share allotment will be finalised by January 10. Investors can start trading in Quadrant shares on the bourses effective January 14. The IPO comprises of solely fresh issue of Rs 290 crore with no offer-for-sale component. Quadrant, a research-oriented company, develops new generation train control and signalling systems under KAVACH project of the Indian Railways. The company also owns speciality cable manufacturing facility with electron beam irradiation centre. The speciality cables are used in railways rolling stock and Naval (defence) industry. Click Here To ReadAll IPO News Promoters hold 93.33 percent stake in the company, and the remaining 6.67 percent shares are owned by public shareholders, including Suryavanshi Commotrade, and Capri Global Holdings. The Punjab-based company intends to spend Rs 149.7 crore out of fresh issue proceeds for its long-term working capital requirements. Further, Rs 24.4 crore will be used for development for electronic interlocking system, Rs 23.6 crore for repaying debt, and the remainder funds for general corporate purposes. The merchant banker handling the public issue is Sundae Capital Advisors.
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2024-12-30 17:42
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2024-12-30
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17:42
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moneycontrol.com
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https://www.moneycontrol.com/news/india/manmohan-singh-memorial-row-understanding-the-provision-for-separate-memorials-amid-congress-bjp-war-of-words-12900364.html
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Manmohan Singh memorial row: Understanding the provision for separate memorials amid Congress-BJP war of words
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Congress leader Rahul Gandhi pays last respects to former prime minister Manmohan Singh, at AICC headquarters in New Delhi. (PTI photo).Related stories.
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Hours after former Prime Minister Dr Manmohan Singh’s funeral at Nigambodh Ghat, a fresh political storm erupted Saturday (December 28) between the Congress and the BJP over the location of his memorial in the national capital. Leader of the Opposition Rahul Gandhi and Wayanad MP Priyanka Gandhi Vadra accused the BJP-led government of "insulting" Singh by denying him a dedicated resting place, while BJP president and Union Minister JP Nadda countered it by accusing the Congress of politicising the matter. Congress’ demand for separate memorial Congress president Mallikarjun Kharge had earlier reached out to Prime Minister Narendra Modi, requesting a separate memorial site for the late Prime Minister. Kharge also followed up with a formal letter to Modi, while Congress MPs Priyanka Gandhi Vadra and KC Venugopal raised the issue with Union Defence Minister Rajnath Singh. Congress had sought to have Singh’s cremation conducted at a location where a memorial could later be established in his honour. Rahul Gandhi criticised the government's decision to conduct the cremation at Nigambodh Ghat, calling it a slight to Singh’s legacy. Gandhi said that the government had “insulted” the “great son of Mother India and the Sikh community’s first Prime Minister”. What Centre said on separate memorial for Manmohan Singh The Ministry of Home Affairs issued a statement noting that Union Home Minister Amit Shah had informed Congress president Mallikarjun Kharge and the family of Manmohan Singh about the government's decision to allocate space for a memorial. “In the meanwhile, cremation and other formalities can happen because a trust has to be formed and space has to be allocated to it,” the MHA said. Union Minister JP Nadda dismissed the Congress’s claims as baseless and accused its leadership of playing politics over Singh’s death. “It is necessary to remember the history of Congress. After the death of former Prime Minister PV Narasimha Rao, there was a demand to build a Samadhi Sthal in Delhi’s Rajghat complex. But at that time Sonia Gandhi had rejected it. It was Prime Minister Narendra Modi who established a memorial for him in 2015,” Nadda said. What is the provision for separate memorials? The ongoing dispute also highlights the UPA government’s 2013 decision to create a common memorial ground, Rashtriya Smriti Sthal, to address the scarcity of land for individual memorials. This policy, ironically, was initiated under Singh’s leadership as Prime Minister. The demand for a separate memorial for Singh has also brought into focus the Congress’s controversial history of sidelining its leaders outside the Nehru-Gandhi family. Observers have often criticised the party for underplaying the contributions of figures like PV Narasimha Rao. Rao, India’s first non-Nehru-Gandhi Congress Prime Minister to complete a full term, faced humiliation posthumously. In 2004, his body was not allowed inside the Congress headquarters at 24 Akbar Road, and his cortege was left on the pavement outside. Unlike other Congress Prime Ministers, Rao has no dedicated resting place in Delhi. Adding to the controversy, Union Petroleum Minister Hardeep Singh Puri claimed that Congress leaders did not accompany Singh’s family when his ashes were immersed in the Yamuna River. “While BJP leaders were present, senior Congress leaders were notably absent,” Puri said on Sunday (December 29). Congress leaders responded by emphasising their respect for Singh’s family’s privacy. “Our absence was out of deference to the wishes of the family, who wanted a private ceremony,” said a senior Congress leader.
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2024-12-30 17:39
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2024-12-30
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17:39
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moneycontrol.com
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https://www.moneycontrol.com/news/india/decimated-ncp-sharad-pawar-s-3-strategic-options-12900354.html
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Decimated NCP: Can Sharad Pawar pull his party out of crisis? These are the 3 options before him
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Sharad Pawar’s NCP is in a brainstorming mode and is contemplating a strategy for its survival.Related stories.
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A look at Sharad Pawar’s political career reveals his belief that the raison d'être of a political party is to be in power. Over the last five decades, the octogenarian leader has been successful in keeping himself or his party in power. There have been very few occasions where he has been in the opposition. It is this reputation of Pawar that has fueled the discussion that, after an embarrassing defeat in the recent assembly polls, Pawar is likely to take a decision aligning him with the incumbent. Such talks are not unsubstantiated. The developments taking place after the assembly election results indicate that something is cooking behind the curtains. Sharad Pawar’s NCP is in a brainstorming mode and is contemplating a strategy for its survival. By winning just 10 seats out of 288 in the Maharashtra Vidhan Sabha polls, the party is almost decimated. The Vidhan Sabha results have overturned the success achieved during the last Lok Sabha polls. In the contest between uncle Sharad Pawar and nephew Ajit Pawar, the nephew has emerged powerful. Sharad Pawar has faced the most humiliating defeat in his political trajectory. According to undercurrents in his party, the senior Pawar now has three options left to take his politics forward: 1. Maintain status quo If Pawar makes this choice, his party will have to remain in the opposition as part of the Maha Vikas Aghadi (MVA). This option carries risks, and it will be difficult for Pawar to keep his party afloat. Leaders loyal to him so far could switch to the ruling side. Additionally, the verbal conflict between the Shiv Sena (UBT) and Congress has created uncertainty over MVA’s future. Uddhav Thackeray seems to be returning to hardline Hindutva and has asked his party workers to prepare for fighting independently in the upcoming polls. 2. Merge the party with Ajit Pawar’s NCP A section of NCP leaders is urging Sharad Pawar to reunite with Ajit Pawar. This would make them part of the incumbent alliance. Their argument is that the Vidhan Sabha results have shown that people consider Ajit Pawar’s party to be the real NCP, and its future seems bright. The bitterness between the uncle and nephew appears to have receded in recent days. Ajit Pawar, along with his wife Sunetra, visited Sharad Pawar to greet him on his birthday, which is seen as an indication of reconciliation. 3. Remain independent but support NDA Another section of NCP (SP) members believes the party should not merge with Ajit Pawar’s faction but join the NDA. An expansion of PM Modi’s cabinet is likely soon, in which Ajit Pawar’s faction could get a ministerial berth. The argument here is that Sharad Pawar’s NCP won eight seats in the Lok Sabha polls. If Eknath Shinde’s Shiv Sena, with six seats, and Ajit Pawar’s NCP, with just one seat, could secure ministerial berths in the union cabinet, then Sharad Pawar’s NCP has a strong case for a seat in the Modi cabinet. Of late, Sharad Pawar has toned down his criticism of the NDA. Although after the assembly results, he made statements against EVMs and demanded the usage of the old ballot paper system, his daughter Supriya Sule has since made a contradictory statement. Recently, Sule said that after winning elections four times, she could not blame the machines. Another development fueling these talks is a recent parley between Pawar and Modi, during which the latter gifted him boxes of pomegranates produced by Maharashtra farmers. Sharad Pawar has also invited Modi to inaugurate the 98th Marathi Sahitya Sammelan to be held in Delhi in February 2025. On January 8 and 9, Sharad Pawar’s NCP has called a two-day party meeting to strategize for the upcoming civic polls. The options mentioned above for the party’s future trajectory are also likely to come up for discussion.
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2024-12-30 17:24
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2024-12-30
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17:24
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/zomato-backed-magicpin-set-to-join-tech-ipo-bandwagon-in-talks-to-appoint-advisors-12900281.html
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Zomato-backed Magicpin set to join tech-IPO bandwagon; in talks to appoint advisors
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MagicPin allows customers to discover offline retailers in their neighborhood, across categories such as fashion, food, grocery, and electronics among others and obtain offers and discounts for them.Related stories.
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Hyper-local e-commerce firm Magicpin, backed by investors such as Zomato and Light Speed Ventures, is planning to go public in 2025 and has initiated talks with investment banks and law firms to appoint advisors for the IPO, people aware of the matter toldMoneycontrol. Magicpin allows customers to discover offline retailers in their neighborhood, across categories such as fashion, food, grocery, and electronics among others and obtain offers and discounts for them. Users can transact on the app using multiple methods and earn points on these transactions. These points can be used for discounts at various merchants on the platform. Earlier this month,Magicpin announced that it is entering the quick commerce segment for food deliveryin cities such as Bangalore, Hyderabad, Mumbai, Chennai, Delhi-NCR, and Pune under its magicNow brand that will provide fast food delivery within a 1.5 km to 2 km radius. “The company has recently held pitches to appoint investment banks and law firms for the proposed IPO. These are early days for the deal and the company is yet to finalize the contours of the deal. There are several VC funds, angel investors and investors like Zomato on the captable, so the eventual deal size will depend on how much stake these guys want to dilute through the IPO. Those details will be finalised closer to filing the DRHP,” said one of the people cited above The company was founded in 2015 by co-founders Anshoo Sharma and Brij Bhushan, who left the company in April 2024 to join an early stage venture capital fund. Magicpin’s last fundraise came in 2021 when the company raised $60 million in a series D round led by food delivery app Zomato. The round also saw participation from existing investors such as Lightspeed Venture Partners. Emails sent to co-founder and CEO Anshoo Sharma remained unanswered till the time of publication. Magicpin Financials As per the latest details available with the Registrar of Companies (RoC), Magicpin’s parent firm Samast Technologies, recorded a consolidated revenue of Rs 297.24 crore in FY23, compared to a revenue of Rs 162.44 crore in the previous financial year. The company reported a loss of Rs 114.26 crore in FY23, lower than the loss of Rs 149.29 crore in the year ago period. Zomato held a 16.95 percent stake in Magicpin as of 31 March 2023, as per the latest available shareholding pattern of the company with RoC. Lightspeed Venture Partners is the biggest shareholder of the company with a 36 percent stake. Founders Anshoo Sharma and Brij Bhushan held 14.92 percent each. Tech IPOs in 2024 The year 2024 witnessed many major IPOs from the technology sector, with Swiggy Limited leading the march with its Rs 11,327-crore IPO in November. Other tech companies that have gone public in 2024 include FirstCry’s parent firm Brainbees Solutions, Ola Electric, Unicommerce eSolutions, iXigo.com, Awfis Space Solutions, GoDigit Insurance, Mobikwik, among others. Moneycontrolreported on December 12 that Zomato- and Temasek-backedShiprocket is planning to raise around Rs 2,000-2,400 crore through an IPO, while on November 4,Moneycontrolreported thatCarDekho, co-promoted by Shark Tank India’s Amit Jain,had initiated talks to appoint investment banks for up to Rs 4,000 crore IPO.
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2024-12-30 17:18
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2024-12-30
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17:18
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/fujiyama-power-systems-files-ipo-papers-plans-rs-700-crore-fresh-issue-for-expansion-debt-reduction-12900279.html
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Fujiyama Power Systems files IPO papers, plans Rs 700-crore fresh issue for expansion, debt reduction
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Fujiyama Power Systems IPO.Related stories.
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Uttar Pradesh-based solar energy solutions provider Fujiyama Power Systems has filed draft papers with capital markets regulator SEBI to raise funds via initial public offering for expansion and debt reduction purposes. The IPO will be a mix of fresh issuance of equity shares worth Rs 700 crore, and an offer-for-sale of 2 crore equity shares by existing shareholders. Promoters Pawan Kumar Garg and Yogesh Dua will sell 1 crore shares each via offer-for-sale. It may consider raising funds up to Rs 140 crore before the IPO launch. If it completes the said pre-IPO placement, the fresh issue size will be reduced to the extent of such amount. With three manufacturing facilities (in Greater Noida, Haryana, and Himachal Pradesh), the company makes products and solution for the roof-top solar industry, intending to excel in solar panel, solar inverter, and both lead acid and lithium-ion battery production under its UTL Solar, and Fujiyama Solar brands. Since FY22, it has sold 1.2 million (458.14 MW) solar panels, 0.6 millon (1,065.83 MW) solar inverters and 0.85 million (1,672.17 MWh) batteries. Further, in the EV segment, it also provides chargers for three-wheeler electric autorickshaws (E-rickshaws) and lithium-ion batteries. Click Here To ReadAll IPO News Fujiyama Power Systems is also in the process of developing a new facility for manufacturing solar panel in Dadri, Uttar Pradesh and installation of another solar inverter and lithium-ion battery line in Greater Noida facility. Apart from that, it plans to use Rs 250 crore out of net fresh issue proceeds for establishing manufacturing facility for solar inverter, solar panels and lithium-ion batteries in Ratlam, Madhya Pradesh. This will result into increase in company's current manufacturing capacity to at least two-fold. Further, IPO proceeds of Rs 300 crore will be utilised for repaying debt, which will help the company to become almost debt free. As of November 2024, it had an outstanding borrowing of Rs 301.2 crore. Also read:Funding winter to IPO frenzy: How Indian startup ecosystem went back on the boil in 2024 On the financials front, Fujiyama Power that competes with listed peers like Waaree Energies, Premier Energies, Exicom Tele Systems, and Insolation Energy has recorded net profit at Rs 45.3 crore for the year ended March 2024, growing 86 percent compared to Rs 24.4 crore in the previous fiscal. Revenue in the fiscal 2024 increased by 39.2 percent to Rs 924.7 crore, compared to Rs 664 crore in the previous year. The company in H1FY25 already surpassed its previous full year profit, reporting profit for six months period ended September 2024 stood at Rs 75 crore on revenue of Rs 721.7 crore. Motilal Oswal Investment Advisors, and SBI Capital Markets are appointed as the merchant bankers for the issue.
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2024-12-30 17:08
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2024-12-30
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17:08
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/sensex-tumbles-850-points-from-day-s-high-nifty-slips-below-23-700-as-markets-turn-volatile-12900210.html
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Sensex crashes 850 points from day's high, Nifty ends below 23,650 as FIIs, global cues weigh on markets; Vix up
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Sustained foreign institutional investor outflows and diminished expectations of U.S. rate cuts in 2025 continue to weigh on market sentiment, dragging Sensex and Nifty today..Related stories.
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Share market fell sharply in late afternoon trade on Monday, with BSE Sensex closing about 850 points down from the day’s high and NSE Nifty ending below the 23,650 mark, as foreign institutional investor (FII) outflows, global cues, and a weakening rupee weighed on investor sentiment. At close of the trade on December 30, theSensexwas down 450 points or 0.6 percent from the previous close, at 78,248. TheNiftydropped 168 points or 0.7 percent to 23,645. Both indices slipped over 1 percent from their intraday highs. Market breadth remained weak, reflecting broad-based selling pressure. Pharma bucks the bearish trend Most NSE sectoral indices ended in red. However, the Nifty Pharma index was the top sectoral gainer, up 1 percent. Consumer Durable, FMCG and IT index ended mildly positive. The Nifty Auto index led the losses, down 1.4 percent. Among other major losers were the Nifty Bank index (down 0.7 percent) -- which had led the intraday recovery earlier; energy, infrastructure and metals indices fell 0.5-1.5 percent each. Follow our live blog for regular market updates Pharma stocks provided a bright spot, with Sun Pharma and Cipla gaining 1.2 percent and 1 percent, respectively. Volatility rose during the session, with the India VIX closing up 5.5 percent at 13.97. Adani Enterprises remained the top gainer on the Nifty, surging 7.5 percent to Rs 2,592. Other gainers included IT firms HCL Tech and Tech Mahindra, up 2 percent and 1.7 percent, respectively. Among the losers, Hindalco fell 2.6 percent, followed by Bharat Electronics, Trent and Tata Motors, which dropped up to 2.5 percent each. Global cues and rupee impact The persistent outflow of foreign institutional investors continues to be a major drag on Indian equities. The ongoing depreciation of the rupee, which is now nearing the 86-per-dollar mark, has made Indian shares less attractive to foreign investors due to reduced returns in dollar terms. "The rupee’s depreciation is making Indian equities less appealing to FIIs, who face diminishing returns in dollar terms," said Mandar Bhojane, research analyst at Choice Broking. Also read |Polls, policy and policing: How elections, budget, SEBI, RBI all influenced the Indian stock market in 2024 Indian markets also mirrored weakness in global equities, with most Asian indices trading lower following Friday’s losses on Wall Street. The S&P 500 and Nasdaq 100 declined over 1 percent as U.S. investors trimmed positions ahead of the year-end amid uncertainty about the 2025 international trade landscape. Bhojane said that the lack of domestic triggers, alongside global uncertainties and diminished expectations of U.S. rate cuts in 2025, is keeping markets under pressure. Technical outlook "Momentum is expected to be low, which restrains us from chasing upsides today, despite maintaining 24,165 as the near-term target," said Anand James, Chief Market Strategist at Geojit Financial Services. He noted that the Nifty’s downside support remains at 23,750, with a breach below 23,600 signalling further weakness. As the penultimate trading session of 2024 unfolds, market volatility and global factors are likely to dominate sentiment. Analysts expect the markets to remain under pressure, with upcoming data such as monthly auto sales and December quarter earnings providing the next directional cues.
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2024-12-30 17:07
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2024-12-30
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17:07
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moneycontrol.com
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https://www.moneycontrol.com/news/business/real-gdp-growth-to-recover-in-q3-q4-of-fy25-says-rbi-s-report-12900299.html
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Real GDP growth to recover in Q3, Q4 of FY25, says RBI’s report
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Reserve Bank of India.Related stories.
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The real Gross Domestic Product (GDP) growth is expected to recover in the third and fourth quarter of the current financial year on back of pick up in domestic drivers, mainly public consumption and investment, strong service exports and easy financial conditions, the Reserve Bank of India’s (RBI) Financial Stability Report said. “Despite this recent deceleration, structural growth drivers remain intact. Real GDP growth is expected to recover in Q3 and Q4 of 2024-25,” the report said. During H1:2024-25, real GDP growth (y-o-y) moderated to 6.0 percent from 8.2 percent and 8.1 percent growth recorded during H1 and H2 of 2023-24, respectively. India’s GDP growth slumped to its lowest level in seven quarters at 5.4 percent in the second quarter of FY25. On December 26, Finance Ministry said that India's economic growth is projected to reach around 6.5 percent in real terms for FY25, supported by strong rural and urban demand, improved capital formation, and robust government spending. “On the demand side, rural demand remains resilient, as highlighted by the 23.2 percent and 9.8 percent growth in two- and three-wheeler sales and domestic tractor sales, respectively, in October-November 2024. Urban demand is picking up, with passenger vehicle sales registering YoY growth of 13.4 percent in the same period and domestic air passenger traffic witnessing robust growth. Consequently, we expect the economy to grow at around 6.5 percent in real terms in FY25,” the Finance Ministry said in its Monthly Economic Review (MER) for November 2024. The economy is expected to perform better in the October-March period, following a 5.4 percent GDP growth rate in Q2. “Growth in October-March is likely to be better than in H1. Food price pressures are likely to decline gradually, supported by an optimistic farm sector outlook,” the report noted. Government capital expenditure is a major growth driver, with increased spending boosting infrastructure projects and capital goods sectors. “There are signs of capital formation growth rebounding early in H2 FY25. The order books for infrastructure and capital goods grew sharply in FY24 and H1 FY25, indicating a pent-up investment impulse that will play out in the quarters ahead,” the report added. The infrastructure sector is expected to gain traction, with cement, steel, and electricity industries benefiting from post-monsoon demand and government-led initiatives.
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2024-12-30 17:05
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2024-12-30
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17:05
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moneycontrol.com
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https://www.moneycontrol.com/technology/netflix-games-december-2024-squid-games-gta-and-other-titles-launched-this-month-article-12900342.html
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Netflix Games December 2024: Squid Games, GTA and other titles launched this month
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Squid Games.Related stories.
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Netflix has been expanding the game list on the streaming platform to offer its viewers a wide variety to choose from. The streaming platform has added several new games in December and the most anticipated one is the Squid Games, based on the popular TV Show on Netflix. For those unaware, Season 2 of the Squid Games has also arrived on the platform. Here is the list of all the games that got added to Netflix in December 2024: Squid Games: Unleashed Netflix introduced the Squid Game: Unleashed, a multiplayer battle royale game inspired by Netflix’s hit series. Players compete in various mini-games reminiscent of the show, such as “Red Light, Green Light” and bridge challenges, in a lighter, party-game format. Grand Theft Auto trilogyGTA trilogy is the remastered versions of GTA III, Vice City, and San Andreas—debuted on Netflix, marking a major milestone for the platform. These titles are available to all Netflix subscribers via the mobile app or app stores, with no additional charges, ads, or in-app purchases. Monument Valley 3In addition to the GTA trilogy, Netflix introduced Monument Valley 3, a new entry in the acclaimed puzzle game series. This game combines the franchise’s signature architectural puzzles with fresh elements to enhance the player experience. Netflix cloud gamingIn addition to the downloadable games, Netflix also started testing the cloud gaming in December. The game hints at cross-platform games tailored for larger screens, such as TVs and PCs.
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2024-12-30 17:05
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2024-12-30
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17:05
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/technical-view-nifty-breaks-200-day-ema-selling-pressure-can-intensify-below-23-500-12900326.html
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Technical View: Nifty breaks 200-day EMA, selling pressure can intensify below 23,500
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Nifty Downtrend.Related stories.
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The Nifty 50 had a negative start to the week, breaking its 200-day EMA (Exponential Moving Average of 23,700) with above-average volumes on December 30, especially following the consolidation observed in the previous week. This behaviour indicates prevailing bearish sentiment. The RSI (Relative Strength Index) at 37 is in the lower band, while the MACD (Moving Average Convergence Divergence) and KST (Know Sure Thing) indicators show a negative crossover and are moving below the zero line, further signalling weakness. If the index sustains below 23,700, selling pressure could extend to 23,500 (November's low). However, as long as it holds 23,500, consolidation may continue with resistance on the higher side at the 23,900–24,000 zone, experts said. After opening lower, the Nifty 50 rebounded to 23,900, the resistance level, in late morning deals but failed to sustain those gains in the afternoon. The index wiped out all those gains and ended 168.5 points down at 23,645, forming a bearish candlestick pattern with an upper shadow on the daily charts after range-bound trading over the past four sessions. Technically, this market action indicates an attempt at a downside breakout of the range-bound movement. This is a negative signal and suggests more weakness ahead, according to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. He added that the short-term trend for the Nifty is down, with the market expected to slide to the 23,500–23,400 levels in the near term. Immediate resistance is at the 23,800 level. On the derivatives data front, the maximum Call open interest was seen at the 24,500 strike, followed by the 24,000 and 23,800 strikes, with maximum Call writing at the 24,000 strike, and then at the 23,800 and 24,300 strikes. On the Put side, the 23,000 strike holds the maximum open interest, followed by the 23,200 and 23,500 strikes, with maximum Put writing at the 23,200 strike, followed by the 23,000 and 23,050 strikes. The above weekly options data suggests that the Nifty may remain in the range of 23,500–24,000 in the short term. Bank Nifty The Bank Nifty also came under pressure, breaking the 51,000 mark and falling 359 points to close at 50,953. The banking index formed a bearish candlestick pattern with a long upper shadow on the daily timeframe, indicating a lack of strength at higher levels. The index touched its 10, 20, 50, and 100-day EMAs intraday but failed to close above them, though it reversed from trendline support and defended its 200 DSMA (50,600) as well as its 200 DEMA (50,472). On the upside, the 50 DEMA at 51,960 will act as resistance, while in the short term, the index is expected to trade within the 50,500–52,000 range. A breakout in either direction will determine its future trajectory, said Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C Mehta Investment Intermediates. Volatility Index (India VIX) The India VIX, a measure of market volatility, climbed closer to the 14 mark, making the trend uncomfortable for bulls. It closed at 13.97, up 5.55 percent.
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2024-12-30 17:02
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2024-12-30
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17:02
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moneycontrol.com
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https://www.moneycontrol.com/technology/youtube-tests-new-play-something-button-here-s-what-it-does-article-12900317.html
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YouTube tests new ‘Play Something’ button: Here's what it does
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YouTube.Related stories.
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YouTube is testing a floating ‘Play Something’ button on the Android application, which will randomly suggest videos to simplify content discovery. Moreover, tapping the button will play a video that has been selected by YouTube, taking the user's video preference into account. YouTube has introduced a new ‘Play Something’ button, which will recommend videos to users to simplify content discovery or endless scrolling on the app. According to a latest report by 9to5Google, the ‘Play Something’ button appears as a floating action button on the latest beta version of the YouTube app on Android. YouTube’s ‘Play Something’ button: Here’s how it works The report adds that the ‘Play Something’ button is designed as a floating action button (FAB) with a white text color on the play icon with a black background. When tapped, it opens short videos. Notably, the button plays YouTube Shorts videos in vertical format and plays regular long-form videos in portrait format. This may feel odd for many viewers, especially those who watch long regular videos and hopefully YouTube will fix this issue in the coming updates. Further, the curated videos from the ‘Play Something’ toggle will enable like, dislike, comment, and share options on the right side of the screen, along with a timeline scrubber at the bottom of the player, just like any Shorts video. The report also mentions that the ‘Play Something’ button disappears whenever the miniplayer is active, indicating that to start new content, you need to use the app’s main interface. A few months ago, YouTube also announced that it was rolling out a bunch of new improvements and features, which included the ability to set thumbnails for playlists, multiple AI features, and new accessibility features for its miniplayer.
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2024-12-30 17:01
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2024-12-30
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17:01
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moneycontrol.com
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https://www.moneycontrol.com/news/business/economy/telangana-and-ap-give-more-via-social-welfare-programmes-than-bihar-up-and-jharkhand-12900303.html
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Telangana and AP give more via social welfare programmes than Bihar, UP and Jharkhand
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Consumption boosted by social welfare programmes picks up faster for poorest states.Related stories.
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Telangana, Karnataka, Andhra Pradesh shell out more than poorer states like Bihar, Jharkhand and UP on social welfare programmes, according to a Moneycontrol analysis of Household Consumption Expenditure Survey 2023-24. The impact of social welfare programmes on consumption was higher in Telangana, with imputed value of consumption 4.4 percent higher in rural areas than household spending without freebies, while UP’s consumption was much lower at 2.8 percent. Andhra Pradesh’s rural households also consumed 4 percent more after imputation of social welfare programmes, compared to 3.2 percent for Bihar. The gap was much lower for urban areas, where Andhra Pradesh urban households consumed just 2.2 percent owing to imputation, while the difference in Bihar was 1.7 percent. Rise in social welfare aided consumption 2023-24 also witnessed a boost in social welfare programmes-led consumption. While imputation added 2.3 percent to household spending in rural areas and 1 percent in urban areas in 2022-23, the contribution increased to 3 percent and 1 percent, respectively, in 2023-24. The country also became more equitable. The poorest states, with the per capita income of Rs 60,000, consumed 3 percent more in rural areas, compared with 1.9 percent a year ago. The increase for richest states, with per capita income of Rs 1.2 lakh per annum, was much less pronounced at 2.4 percent higher compared with 1.9 percent earlier. The poorest states did worse for their urban areas, with consumption jump lower than richest states. There were disparities in statewide increments as well. Odisha’s consumption due to increments was up 3 percentage points compared with the previous year, while Chhattisgarh’s went up 2.4 percentage points from 2022-23. Chhattisgarh has highest value of imputation at 6.9 percent higher than normal spending in rural areas. Southern and eastern states spent more on 2023-24, than northern and western states.
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2024-12-30 16:57
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2024-12-30
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16:57
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/throwback-2024-what-moved-the-markets-the-most-in-the-year-gone-by-12900343.html
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Throwback 2024: What moved the markets the most in the year gone by
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Stock Markets.Related stories.
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Now that 2024 is coming to an end, let's take a look back at the year’s biggest market movers: from policy shifts to global events that shaped investor sentiment. SEBI cracks the whip Markets regulator Securities and Exchange Board of India (SEBI) cracked the whip quite hard in 2024, taking decisive action against not only individuals and organisations, but also came out with decisions that impacted the entire securities ecosystem in India. Of the two big moves SEBI undertook in 2024, the first was the stress test requirement. Mutual funds were asked to close the liquidity of a fund, so investors could assess how liquid their capital parked in these funds is. The sharp run-up in small-cap stocks caused huge mark-to-market gains, but due to the lower trading volumes, the markets regulator expressed concerns about the liquidity, in case a slew of investors decided to redeem their portfolios. The second, and arguably more impactful, move was the overhaul of the futures and options (F&O) sector. Retail investors that turned towards derivatives to make a quick buck were mostly making losses – a SEBI study pegged this share at over 90% - causing the regulator to revamp the regulations in the F&O space. A portion of rules came into effect on November 20, 2024, which included increased lot sizes, the reduction in the number of weekly expiries, and a bump up in contract sizes. The attempt was to rein in volatility, especially on expiry days, and also cut down retail losses. Elections: NDA shocks, Trump returns Over 64 countries across the globe went to polls in 2024, marking it as the largest election year in recorded history. However, the domestic markets looked towards three key elections for cues: the Lok Sabha election in June, the US Presidential election in November, and the Maharashtra state elections held following Diwali. The Lok Sabha election results came as a shock to the markets, which had largely priced in a complete majority for the BJP-led National Democratic Alliance, with expectations of the coalition cinching over 400 seats in the party. The picture on the cards was more somber, with the BJP failing to secure a majority in the parliament. As a result, the benchmark indices took a tumble – post a huge single-day gain basis the exit polls - crashing over six percent each, while the small- and mid-cap indices crashed over eight percent. Thereafter, the focus in the domestic landscape shifted towards the Maharashtra Assembly elections to see if the BJP-led Maha Yuti alliance could retain its stronghold. The state was especially important, since Maharashtra is the largest state in terms of GDP contribution as well as FDI inflows. With BJP’s roaring comeback in the elections, bagging 132 seats in the 288-member Assembly, investors across the world were assuaged by the results that showed that the incumbent could hold onto power. The elections in the US also played a key role in moving the Indian markets. The frontline indices Nifty 50 and Sensex closed over a percent higher each following ex-President Donald Trump’s win, with the information technology and pharma sectors seeing the most gains. The export-oriented sectoral indices have gone on to rally further, as the local currency weakens against a strengthening US Dollar. Also Read |2024 in review: MFs witness growth in 2024; SIPs, Thematic and Passive on the rise Budget: Playing fast and loose with taxes The election results took the nation by surprise. Some might go even so far as to say, the election results took the incumbent party by surprise. Many experts suggested that a series of measures announced in the UnionBudget 2024-2025 were completely populist in nature – focusing on rural empowerment, employment, and skilling – just to assuage future voters. Further, the Budget made large allocations towards Andhra Pradesh and Bihar, two states that were critical in ensuring that the BJP-led NDA clinched a majority in the Lok Sabha polls. These were also largely priced in though. What the markets did not expect was the tax curveball the Ministry of Finance threw. From the Union Budget presented in the year ago on February 1, 2023, to the Budget presented on July 23, 2024, the benchmark indices saw a whopping 40 percent rally. As a result, FinMin decided to take a larger piece of the pie, hiking the STT rate on derivatives and increasing the LTCG to 12.5 percent and STCG to 20 percent What themes moved the market? Public sector undertakings (PSUs), railway, and defence stocks surged multifold, with some stocks quadrupling investors’ wealth. The multi-bagger returns led to the rush of investors hoping to ride the train to the top, with hopes of a strong election result for the incumbent, which would result in a continuation of growth-oriented policies. To this extent, Hong Kong-based brokerage CLSA curated a list of 54 stocks, most of which were from capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses. The brokerage had named these “Modi stocks,” since they were rallying based on prospects of the BJP coming back to power. However, with the dismal election results, nervousness took over the market sentiment, leading to sharp u-turn. Investors rushed to offload their overvalued holdings in these stocks and sectors, instead moving to the defensive themes of pharma and IT. The elections caused the Nifty IT to snap its losing streak, instead causing it to stage a turnaround, surging over 32 percent from June 4, 2024. Similarly, the Nifty Pharma index jumped around 20 percent during the same time. However, over the past six months, the Nifty CPSE index has taken an 11 percent tumble on the bourses. FIIs: What are they up to? Foreign investors were among the top market movers in 2024, with the markets closely tracking FPI inflows and outflows though robust domestic inflows provided the much-needed support during times of intense selling by the foreign investors. The bulk of the FII selling was seen in October and November, following the stimulus measures announced in China, as foreign funds pulled out their Indian holdings to invest in cheaper Chinese equities. However, the investors returned to the domestic markets in December. Buying in seven of the 12 months, FPIs have infused Rs 1,656 crore into the Indian markets so far in 2024, extending the buying spree seen in 2023, when they bought Rs 1.7 lakh crore. Retail investors The benchmark indices clocked record highs in the first half of the year, closing on 1,000-mark milestones with increased frequency. From the 22,000 mark to scaling Mount 26k, the Nifty 50 quickly took out every marker in rapid succession until September. The surge in the benchmarks and broader markets have come as retail investors step up their investments into the equity markets, with more and more money being diverted into mutual funds or directly into equities. This represents a tangible shift in the retail attitude towards the markets, with rising financial literacy and promises of higher returns, the financialisation of savings is clearly underway. The monthly SIP inflows continued to hit record highs. As of November 2024, the equity fund AUM was Rs 30.36 lakh crore, compared to Rs 20.33 lakh crore in November 2023, a nearly 40 percent increase. Further, as of September 30, Indian households have nearly doubled their equity exposure to 30.6 percent from around 17.2 percent in FY16, with direct equities rising to around 14.6 percent from 8.5 percent. Further, retail investors are more exposed to mid-cap and small-caps compared to FIIs and mutual funds. Foreign investors have kept their exposure to large-caps around the 80 percent mark over FY19-FY24, despite the strong outperformance of SMIDs during this period, noted domestic brokerage Emkay Global. Consumption: Urban feels the pinch, rural sees green shoots The consumption story has kept investors in limbo from 2020 onwards. After the pandemic, all eyes were on the rural sector, which remained stressed for a few years. Even in the first half of the calendar year, ahead of the monsoons, the rural sector saw pressure, with most high frequency indicators pointing to signs of an upcoming revival. There was an uptick in non-essential spending, and many consumption companies reported increased demand. The heavier-than-usual monsoon came in and swept away all previous expectations. The picture emerging on the cards in the September quarter was startlingly different: instead of a rural uptick, urban consumption was inching closer to a standstill. Various domestic growth indicators saw signs of easing over the past few months. Consumption from metros, tier-1, or tier-2 cities has lagged on an aggregate level. Heavy food inflation and the central bank's crackdown on unsecured lending have been pointed towards as the key factors leading to the slowdown. Maybe a possible rate cut in 2025 could lead to an uptick in urban consumption as the cost of borrowing eases, but until then, analysts expect the pain to continue. This has clearly played out on the bourses, with FMCG blue chips such as Hindustan Unilever Ltd (HUL) and ITC Ltd giving investors flat-to-negative returns for the year. RBI aggression The Reserve Bank of India also hogged the limelight in 2024, with serious crackdowns seen on microfinance institutions, Kotak Mahindra Bank, gold financiers, IIFL Securities, and Paytm Payments Bank. MFIs:The RBI came down on four microfinance institutions, asking the lenders to cease and desist sanction and disbursal of loans. The four firms flagged were Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance, and Navi Finserv. The central bank raised issues with the pricing policy of the firms, which were found to be excessive and not in adherence with the regulations. Gold Financiers:RBI sent Manappuram Finance and Muthoot Finance, an advisory letter limiting cash disbursal of loans. The central bank has reportedly asked both NBFCs to strictly adhere to the Income Tax Act (IT) provision on cash disbursement, and said that no NBFC should disburse loan amount in excess of Rs 20,000 in cash. Paytm Payments Bank:On January 31, RBI directed the digital lender to stop accepting deposits or credit transactions or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards after February 29. This is excluding cashbacks, or refunds. IIFL Finance:On March 4, the central bank imposed curbs on IIFL Finance, asking it to stop disbursing new gold-backed lending following “material supervisory concerns”. However, the bank lifted its restrictions on September 19, allowing the gold loan arm to resume business. Kotak Mahindra Bank:The private sector lender was barred from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards as the RBI found deficiencies in the areas of IT inventory management. Adani Group, Hindenburg Research and SEBI After a tumultuous 2023, hopes prevailed that 2024 might be a less eventful year for the Gautam Adani-led Adani group. However, with activist short-seller Hindenburg Research coming back for a second innings earlier in August this year, the ports-to-power conglomerate saw much turbulence on the bourses. Levelling accusations at the SEBI chairperson Madhabi Puri Buch, Hindenburg alleged that the securities regulator might not have conducted a proper investigation into the alleged impropriety at Adani Enterprises and related group firms due to conflict of interest. According to the report, Buch and her husband Dhaval Buch owned a stake in the same offshore entities that were linked to the Adani group. Further, Hindenburg Research also suggested that the ongoing thrust on real estate investment trusts or REITs was directly beneficial to Blackstone Private Equity, a significant player in the real estate sector, where Dhaval Buch is Senior Advisor. Market regulator SEBI, and Madhabi Puri Buch and her husband Dhaval Buch have denied the allegations, releasing detailed rebuttals to the claims made in the Hindenburg report. SEBI has also confirmed that the chairperson had made proper disclosures at all times. Also Read |Throwback 2024: How FII flows and ownership changed in the year gone by IPOs: Highest ever issuances As of December 23, 2024, Indian companies raised a whopping Rs 1.6 lakh crore with an impressive 31 percent weighted average listing premium. The Consumer, Auto and IT sectors led to more than 50 percent of IPO issue amount. The SMIDs IPOs stole the spotlight, accounting for 89 percent of all deals, fuelled by the broader market’s stellar rally. The SME segment, which saw 109 issues in 2022, surged to 235, with the amount raised jumping from Rs 1,900 crore to over Rs 8,600 crore this year. “The strong bull market has given Indian firms unprecedented access to capital, often at higher equity valuations. In CY24, many companies seized the opportunity to deleverage their balance sheets by capitalizing on their equity,” stated a report by Nuvama Institutional Equities. Large-caps underperform The large-cap indices underperformed the broader markets. For the year, the Nifty 50 has given 9.5 percent returns, a moderate rise compared to 19.42 percent seen in 2023. Asian Paints, Reliance Industries, Nestle India, IndusInd Bank, Tata Consumer Products, HUL, Titan Company, Adani Enterprises, Kotak Mahindra Bank, Bajaj Finance, Tata Motors, HDFC Life Insurance, SBI Life Insurance, Axis Bank, Hindalco Industries and Tata Steel are the 17 of 50 Nifty 50 firms that gave investors negative returns. However, the Nifty Smallcap 100 has risen 23.3 percent, while the Nifty Midcap 100 has jumped 23.4 percent during the same period. US Federal Reserve The US Federal Reserve kicked off its monetary policy easing cycle in September, slashing the interest rate thrice in 2024. In September, the Federal Reserve cut rates by 50 basis points, following it up with a 25 basis points cut in the November and December meetings. In his election campaign, President-elect Donald Trump shared that he would implement tax breaks, which could pose a downside risk to inflation, sending it surging as more money enters the system. Further, he threatened to impose tariffs on goods imported, which could send prices skyrocketing. These moves would be in divergence from the Federal Reserve's goal to bring inflation closer to the two percent mark. In September, the Fed's projections indicated four rate cuts in 2025. With inflation proving more persistent and the threat of Donald Trump’s tariffs, the American central bank shared a more hawkish outlook for the rate cut prospects for 2024 in December, suggesting only two cuts might be undertaken next year. The Indian markets, and the global markets, reacted sharply to this update, crashing over one percent each following the news. However, the IT and pharma indices rejoiced, as a strengthening US dollar means a weaker rupee, leading to higher top line growth for these firms.
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2024-12-30 16:48
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2024-12-30
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16:48
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/adani-enterprises-to-sell-up-to-13-percent-in-adani-wilmar-exit-the-platform-12900278.html
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Adani Enterprises to exit Wilmar JV in $2 billion deal, invest proceeds in 'core infrastructure'
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Adani Enterprises to sell up to 13% the Adani Wilmar, fully exit the platform.Related stories.
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Adani Enterprises (AEL) has fully exited the Adani Wilmar JV, selling its 13% stake to meet the minimum public shareholding norm, with the rest of the 31% stake going to Singapore's Wilmar International, a company filing informed stock exchanges on December 30. The divestment will raise proceeds worth over $2 billion, which Adani Enterprises said would be used in 'core infrastructure platforms'. Adani Enterprises, Adani Commodities LLP (ACL) and Wilmar International's subsidiary Lence entered into an agreement, as per which Lence will acquire 31.06% stake in Adani Wilmar held by ACL, said the company statement. Wilmar will acquire Adani's remaining 31% stake at a price not more than Rs 305 per share. The other part of the transaction involves Adani Enterprises divesting around 13% of its stake in Adani Wilmar to achieve compliance with minimum public shareholding requirements. With this, AEL will be selling a total of 44% stake in Adani Wilmar as part of the exit, and Wilmar International will acquire up to 31% held by Adani Enterprises in Adani Wilmar, said the statement. "...with the completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar," it added. Adani’s nominee directors will be stepping down from the Board of Adani Wilmar, and shareholders have also agreed to take further steps to change the name of the company to 'AWL Limited' or 'AWL Agri Business Limited' or 'Fortune Agri Business Limited', or such other name as approved by the Ministry of Corporate Affairs. Shares ofAdani Enterprisesended the trading session very strong, near the high of the day, gaining by over 7%. Funds raised from the proceeds will be used by AEL to 'turbocharge its investments in the coreinfrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry,' said the company. "AEL will continue to invest in infrastructure sectors which will further strengthen AEL’s position as India’s largest listed incubator of platforms playing the key macro themes underpinning India’s growth story," Adani Enterprises said in the statement. Adani Group and Wilmar International were in possession of almost 44% each in Adani Wilmar, and this 88% overall shareholdingneeded to be brought down to 75% by February, when the three-year grace period was scheduled to lapse. Read More:Track Adani Wilmar's September quarter earnings here Adani Enterprises and Wilmar are the founder shareholders of Adani Wilmar, jointly building the FMCG franchise in India. Adani Wilmar is a leading consumer company with 100% urban coverage and presence in over 30,600 rural towns, with exports going to over 30 countries. In January 2022,Adani Wilmarhad launched its initial public offering (IPO), and the funds raised were used to strengthen manufacturing capabilities and to expand product portfolio. Adani Wilmar had market capitalization of Rs 42,785 crore.
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2024-12-30 16:43
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2024-12-30
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16:43
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moneycontrol.com
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https://www.moneycontrol.com/technology/indian-it-companies-likely-to-see-margin-jump-in-q3-as-rupee-weakens-article-12900312.html
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Indian IT companies likely to see margin jump in Q3 as rupee weakens
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Representative image.Related stories.
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Indian IT services companies will see operating margins improve in the third quarter of financial year 2025 and short to medium-term, as rupee continues to weaken against the US dollar. The US market accounts for nearly 50-65 percent of IT services business and revenue, especially for the top players including Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro and Tech Mahindra. Analysts expect a short- to medium-term impact on the back of depreciating rupee, which has weakened by 3 percent against the US dollar in 2024 and is set to post annual losses for the seventh year in a row. According to Phil Fersht, CEO, HFS Research, a global business research consultancy, the margin uptick will be primarily driven by the savings from lower labour costs in India. “Most of India’s tech industry supports primarily US enterprises, which pay for Indian talent at US dollar rates, so lower local costs only improve margins and keep them price competitive,” he told Moneycontrol. At present, this will also be a shot in the arm for several IT companies including Infosys, HCLTech, LTIMindtree, and L&T Tech Services, who had to shift their wage hikes to the third quarter of FY25 to defend margins in the quarter-ended September 30, 2024. Though the companies were bracing for a hit on margins on the wage front, as well as from furloughs, the depreciating rupee would be a saving grace. Not just the Indian IT companies or software exporters, but the US corporations who are rapidly scaling their back office presence in India through GCCs will also benefit from the lower local labour costs and look to expand their talent base in India. This would include global technology giants such as Microsoft, Salesforce, and AWS as well, Fersht said. Industry experts, however, said the margin jump wouldn’t necessarily be absolute as the company’s hedging strategies too will have a role to play. “The bump in margins due to a weakening rupee while welcomed by the IT industry is only worth so much. The impact depends on a provider's geographic revenue split, (currency) hedging strategies and other factors and is no yardstick,” said Gaurav Parab, a principal research analyst at consulting firm NelsonHall. Parab added that the dollar is expected to strengthen further in the initial stages of the incoming US administration and the confidence coming from the expected investments in the US economy under Trump 2.0 administration is where the real long term value lies. Gaurav Vasu, founder and CEO, market intelligence firm UnearthInsight, believes the impact on margins will be more pronounced in Q4 or the first quarter of FY26 than Q3, even increasing by 100-200 basis points. “Even for the full FY25, positive margins will be coming if there’s a rupee depreciation and lower labour costs impact. But, companies have also been spending more on generative AI experiments,” he told Moneycontrol. The Wage-Hike Factor In terms of quarterly trends in margins, if Q2 data were to be mapped in Q3, aggregate margins may inch up by 25 basis points (bps) sequentially. Individually, HCLTech would lead the pack while Coforge would trail all others, according to brokerage firm Jefferies. Meanwhile, Pune-headquartered Tech Mahindra had already set forth its focus for Q3 and upcoming quarters in Q2 itself: protect its margins over chasing large deals. CEO and MD Mohit Joshi, addressing analysts during the company's post-earnings conference call on October 19, said that it is very tempting to do deals that can potentially bite later in this demand environment. “We are shying away from that," he added. The company's focus on boosting margins reflected in its Q2Y25 performance, as the metric rose by 110 basis points quarter-on-quarter to 9.6 percent. Also read:Rupee recovers on RBI support after testing new low of 85.81, still falls most in seven months
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2024-12-30 16:35
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2024-12-30
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16:35
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moneycontrol.com
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https://www.moneycontrol.com/news/opinion/generative-ai-the-breakthroughs-of-2024-and-the-promise-of-2025-12900280.html
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Generative AI: The breakthroughs of 2024 and the promise of 2025
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Generative AI is moving from being a tool to being a cornerstone—a fundamental part of how we live and work. Here’s a look back at the breakthroughs of 2024..Related stories.
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The world turned a corner in 2024. Generative AI didn’t just make headlines—it became the quiet engine reshaping how industries function, how creators create, and how humans solve problems. Whether through OpenAI’s ChatGPT, Anthropic’s Claude, Google Gemini, Microsoft Copilot, or Meta AI on your Whatsapp, these tools became more than technology. They became partners. Partners in creativity, productivity, and possibility. And now, as we step into 2025, Generative AI is moving from being a tool to being a cornerstone—a fundamental part of how we live and work. Here’s a look back at the breakthroughs of 2024 and a glimpse into the future that 2025 holds. 2024: A Year of New Foundations 1. Adoption as Default In 2024, 65% of organizations used Generative AI regularly. This wasn’t about experimenting; it was about committing. From automating workflows to crafting innovative customer experiences, businesses embraced AI as the lever they needed to do more with less. 2. ROI That Speaks Volumes Generative AI wasn’t just a tool—it was a money-making machine. For every $1 invested, organizations saw $3.7 in return, and the best of the best? They were pulling in $10.3 for every dollar spent. 3. OpenAI’s “12 Days of Shipmas” OpenAI showed us what momentum looks like. With launches like Sora, a video-generation marvel, and Canvas, a writing and coding assistant, the company proved that AI could simplify the technical and amplify the creative. Tools weren’t just improving—they were making AI indispensable. 4. Customising AI for Your Needs With Custom GPTs, OpenAI handed the keys to solo entrepreneurs to SMEs. Now, even the smallest players could tailor AI to their needs—whether for marketing campaigns, customer support, or even product innovation. 5. Creativity Gets a Boost Generative AI didn’t just automate—it inspired. Tools like DALL-E 2 gave creators the ability to generate stunning visuals with ease, while Synthesia slashed the costs of video production, opening the door for businesses of every size to craft professional-grade content. 6. Transforming Industries Across healthcare, retail, and education, Generative AI didn’t just assist—it led:Healthcare: AI delivered personalized diagnostics, revolutionizing patient care.Retail: Hyper-personalized shopping experiences brought customers closer.Education: Tools like Claude created tailored lesson plans, adapting to every learner's needs.7. The Ethical Awakening With great power comes great responsibility. Developers doubled down on bias mitigation, fairness, and transparency, ensuring that AI didn’t just work—it worked for everyone. 8. Individual Adoption Driving Enterprises As more employees start using generative AI tools, companies see the need to adopt them across the organization. To support this, they are offering workshops and training sessions to help teams learn the skills they need. 9. Multi-Purpose AI In 2024, AI became a game-changer as people discovered its vast potential. From writing and analyzing to creating stories, challenging biases, thinking critically, innovating, and making images and videos, tools like ChatGPT proved they could do a thousand things when used creatively. 10. Constantly improving Large Language Models In 2024, every large language model competed to enhance Generative AI and provide better experiences for users. Factors driving their growth included improved accuracy, expanded multimodal capabilities (handling text, images, and audio), enhanced customization options, and increased accessibility through open-source initiatives and AI marketplaces. 2025: Scaling Possibilities 1. AI Becomes Essential In 2025, 80% of businesses are expected to integrate Generative AI into their operations. It’s no longer a luxury—it’s the baseline. From startups to Fortune 500s, AI will be the connective tissue of modern organizations. 2. Faster Deployment and ROI Time to value? Under six months. Generative AI tools are getting smarter and faster, delivering tangible results before businesses even realize the full potential of their investment. 3. Rise of Agentic AI Imagine a world where AI doesn’t just assist but acts.Personal productivity: AI will manage calendars, prioritize tasks, and even draft emails.Business operations: Autonomous AI agents will oversee supply chains, customer service, and logistics, freeing humans to focus on strategy and innovation.4.Vertical Specific Solutions at Scale Custom-built models will dominate. AI won’t be one-size-fits-all—it’ll be one-size-fits-you.Retailers will adjust prices in real time to match demand.Healthcare providers will forecast health risks and craft preventive care plans.Manufacturers will use predictive maintenance to keep the assembly lines running smoothly.5. Ethics Front and Center 2025 will make ethical AI non-negotiable.Bias mitigation: Rigorous testing will ensure fairness and inclusivity.Green AI: Energy-efficient algorithms and carbon-neutral infrastructures will become the norm. 6.Education Reimagined Generative AI will revolutionize education. With 60% adoption, AI will create hyper-personalized learning environments.Regional languages will bridge gaps for underserved communities.Adaptive learning tools will make classrooms smarter and more inclusive.7.India Takes the Lead India’s unique challenges and opportunities make it a natural leader in Generative AI.Localization: AI tools will support regional languages, making tech accessible to rural entrepreneurs.Startup innovation: AI will drive growth in agriculture, healthcare, and fintech.Cultural preservation: Traditional art, music, and literature will find new life in digital formats.8.The $200 Billion Market The global Generative AI market will grow by 40%, reaching a valuation of over $200 billion, and grow to $ 1.32 trillion by 2032. This isn’t just growth—it’s a generational shift in how businesses operate.
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2024-12-30 16:26
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2024-12-30
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16:26
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/taking-stock-sensex-nifty-fall-tracking-asian-markets-12900311.html
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Taking Stock: Sensex, Nifty fall tracking Asian markets
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markets.Related stories.
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Indian markets declined on Monday, tracking losses in Asian equities that ended mostly lower as US markets fell on Friday, led by a selloff in technology shares. The benchmark Sensex closed down 0.57 percent, shedding 450 points to settle at 78,248, while the Nifty dropped 0.7 percent, or 168.5 points, to 23,644.90. Among sectoral indices, Nifty Realty was the worst performer, declining 1.5 percent, followed by Nifty Auto and Metal, which fell 1.4 percent and 1.3 percent, respectively. On the other hand, Nifty Healthcare led the gains, rising 1.3 percent, while Nifty IT and FMCG gained 0.6 percent and 0.3 percent, respectively. In the US, the S&P 500 index slid 1.1 percent on Friday, while the Nasdaq 100 dropped 1.4 percent, with technology megacaps bearing the brunt of the losses. This follows a rally where the “Magnificent Seven” accounted for over half of the S&P 500's gains in 2024. Meanwhile, the dollar remained on track for its strongest year in nearly a decade, bolstered by US economic resilience, reduced expectations of Federal Reserve rate cuts, and bullish sentiment driven by President-elect Donald Trump’s tariff threats. Outlook for December 31 Prashanth Tapse, Senior VP (Research), Mehta Equities Markets lost momentum in the second half and fell sharply thereafter as weak Asian and European cues coupled with nervousness over falling rupee and renewed foreign fund flows prompted investors to reduce equity holdings. We suspect rising US bond yields are likely to be the biggest negative catalyst going forward, with the US 10-year US bonds yields spiking to 4.61 percent, the highest in seven months. Vinod Nair, Head of Research, Geojit Financial Services Prevailing subdued sentiment on account of FIIs selling and a strengthening dollar continued to drag the market. While IT & pharma gained as investors continued to bet on defensive stocks to prevent short-term volatility. Concerns over high valuation are impacting the broad market. The upcoming policy announcements in the US and domestic Q3 earnings will be keenly watched by investors. Rupak De, Senior Technical Analyst, LKP Securities The Nifty remained volatile during the session, oscillating between 23,600 and 23,900. On the daily chart, the index has slipped below its recent consolidation. Additionally, it continues to trade below the 200-DMA, indicating weak sentiment. The overall outlook remains negative for the short term, with potential downside risks. On the lower end, support is seen at 23,400, while resistance is expected around 23,870 in the near term. Ajit Mishra – SVP, Research, Religare Broking The market began the week on a volatile note, ending with a loss of over half a percent. After a flat opening, the Nifty gained ground in the first half but faced selling pressure in heavyweight stocks across sectors, reversing its trajectory. As a result, the Nifty closed near the day's low at 23,644.90. On the sectoral front, most major sectors closed in the red, with realty, auto, and metal sectors leading the decline, while pharma was the sole exception. The broader indices showed a mixed trend, with the midcap index closing flat and the smallcap index losing nearly half a percent. The Nifty is struggling to sustain above its long-term support zone, the 200-day exponential moving average (DEMA). Today’s decline signals potential for further downside, with a decisive break below 23,500 likely to confirm this trend, setting the next target at 23,250. Sector-wise, only pharma and healthcare are maintaining consistent trends, while others present opportunities on both sides. Participants are advised to adjust their positions accordingly.
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2024-12-30 16:22
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2024-12-30
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16:22
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moneycontrol.com
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https://www.moneycontrol.com/news/business/mcexplains-bird-hits-what-the-dgca-is-doing-to-ensure-flight-safety-12900249.html
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McExplains: Bird hits & what the DGCA is doing to ensure flight safety
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Azerbaijan Airlines plane crash.Related stories.
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The recent crash of the Jeju Air flight which resulted in the death of 179 of the 181 people travelling aboard the ill-fated Boeing has once again raised questions around the safety of air travel. The Boeing model involved in the crash, the 737-800, is one of the world’s most popular aircraft with a generally strong safety record, and was developed well before the MAX variant involved in a recent Boeing safety crisis. While South Korean officials have said that they are investigating the cause of the crash, including initial suggestions of a possible bird strike, aviation experts globally have questioned whether bird hits can bring down a 42,000 kg engineering marvel that flies on multiple engines. Per data from India's aviation regulator, the Directorate General of Civil Aviation (DGCA), from 1,152 incidents in 2020, bird hits increased 27.25 percent to 1,466 in 2021. Since then, the figure has hovered around the 1,200 mark, with data for 2024 yet to be released. One of the reasons for the increase in bird hits in 2021 was that airports were quieter than usual due to limited domestic and international flights in the wake of Covid. Quiet airports attract more birds as well as animals — there was a 93.33 percent rise in animal strikes in 2021 as against 2020. Why are bird hits an issue? A survey by the International Civil Aviation Organization (ICAO) of data from 91 countries found that airlines face an average of 34 bird strikes in a day. Another survey by the National Business Aviation Association (NBAA) showed that 97.5 percent of wildlife strikes involve birds. In contrast, strikes involving terrestrial mammals account for 2.1 percent, followed by bats and reptiles at 0.3 percent and 0.1 percent, respectively. Collisions between birds and aircraft can occur at any point, from take-off to landing, resulting in damage to aircraft windshields, engines, and fuselages. The majority of bird hits do not result in substantial damage to the aircraft or pose a danger to the passengers. Yet, more than 200 people have been killed worldwide as a result of wildlife strikes since 1988. The most dangerous bird strike is what's called a jet engine ingestion, in which a bird is swallowed by the aircraft’s engine. According to ICAO, damage to aircraft by bird hits amounts to more than $1 billion annually. However, almost 92 percent of the air strikes are without any damage. Most modern engines are required to be capable of ingesting birds that weigh about 1.8 kilograms while running at full power during the initial climb, without catching fire or making the engine impossible to shut down. They are also required to operate at minimum 50 percent power for up to 14 minutes after the strike. This means that even if both the engines are hit by large birds, they can provide a combined thrust output of at least one engine, which is more than enough to return to the airport. Smaller planes are generally bmore susceptible to the dangers of bird strikes than larger ones. How can airplanes avoid bird hits? After the recent incidents of bird hits in India, the DGCA on August 13 issued guidelines to airports across the country to mitigate incidents of collision of planes with birds and other animals. These include implementing a habitat management programme to reduce the population of hazardous wildlife around the airport, performing risk assessment procedures, and recording bird activity around airports. The DGCA guidelines also include carrying out patrols and informing pilots whenever there is any wildlife activity. Internationally, airports use three main ways to minimise the attraction of the airport environment to birds, including modifying bird habitats, controlling bird behaviour, and adapting flight times and paths. Modifying bird habitats Several methods can be used to modify bird behaviour to keep them away from airports, including removing food sources such as seed-bearing plants and insects from airport premises. Covering ponds with netting can prevent birds from landing near airports. Destroying bushes and trees that offer attractive nesting sites can also help reduce the presence of birds. Further, airports use sonic cannons, recorded predator calls, and other noises to keep birds away. Lasers are also used at dawn and dusk to simulate predators and scare birds away. In some countries, falcons are trained to keep birds away from roosting areas before they nest. Dogs are also trained to track bird movements across airports and chase them away. Controlling bird behaviour Some airports use pyrotechnics to drive away birds, says Michael Begier, National Coordinator of the Airport Wildlife Hazards Programme at the US Department of Agriculture. "The flash, bang kind of stuff gets their attention and pushes them away," he said. Loud explosions and whistling sounds, sparks — different birds respond to different things. Some even take flight at the mere sight of the wildlife vehicle that emits such sounds. A banger shot from a pistol can travel 30-40 yards before exploding, while a shot from a 12-gauge shotgun can reach 70-100 yards. A Purdue University study found that planes painted in dark colours attract more birds. Hence, brighter shades should be used to avoid them. Adapting flight times and paths Modifying flight paths and schedules can also help minimise bird strikes. While these methods may not be feasible at all airports, they can help the airport work in harmony with the surrounding wildlife . Adjusting flight times to avoid the busiest hours for bird activity, such as early mornings and late evenings, or peak migration periods can help address the issue. According to the US Federal Aviation Administration's wildlife strike database, about 63 percent of bird strikes happen during the day, 8 percent during dawn and dusk, and 29 percent at night. The landing phase of the flight is when 61 percent of bird strikes occur, while 36 percent occur during the take-off run and climb phases, with the remaining 3 percent occurring when the aircraft is en route. Another suggestion to prevent such incidents is that engines should be covered with a grill. But the issue with that is to effectively block the bird at 800 km/h, the grill has to be significantly sturdy and thick, which will disrupt the air flowing into the engine. Training spotters with binoculars to pinpoint hazardous birds and directing planes to different runways or approaches is also adopted by some airports.
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2024-12-30 16:20
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2024-12-30
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16:20
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moneycontrol.com
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https://www.moneycontrol.com/news/business/rising-frequency-of-extreme-weather-events-continue-to-pose-risk-for-food-inflation-dynamics-says-rbi-report-12900318.html
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Rising frequency of extreme weather events continue to pose risk for food inflation dynamics, says RBI report
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Reserve Bank of India.
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The rising frequency of weather events such as heat waves and unseasonal rains continue to pose risk for food inflation dynamics, Reserve Bank of India’s (RBI) Financial Stability Report said. “On the flipside, rising frequency of extreme weather events (e.g., heat waves and unseasonal rains) continue to pose risks for food inflation dynamics,” the report said. The report further added that persisting geopolitical conflicts and geo-economic fragmentation can also impose upside pressures on global supply chain and commodity prices. In November, food inflation eased to 9 percent compared with 10.9 percent in October. Even though food inflation eased from a 15-month high of 10.9 percent in October to 9 percent in December, some of the categories remained in double digits. Potato inflation was a high 66.6 percent in November compared with 64.9 percent in the previous month, and carrot was 33.4 percent compared with 22.8 percent. Garlic inflation was still high over 80 percent, while some of the pulses were also trending over 20 percent. (This is a developing story, please check back for more details)
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2024-12-30 16:20
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2024-12-30
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16:20
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moneycontrol.com
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https://www.moneycontrol.com/news/business/real-estate/year-ender-2024-industrial-logistics-sector-fuels-10-growth-in-pe-investments-12900257.html
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Year Ender 2024: Industrial & logistics sector fuels 10% growth in PE investments
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Indian real estate sector saw $4.3 billion (Rs 35,600 crore) private equity investments during 2024, reflecting a 10 percent increase year-on-year..Related stories.
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The industrial and logistics sector has emerged as the top destination for private equity inflows followed by the office space sector in real estate in 2024. According to market data the industrial and logistics sector attracted $2.3 billion (around Rs 19,400 crore) and accounts for 54 percent of the total investments. The residential sector also gained traction, driven by rising demand for premium housing, and attracted around 15 percent of the total investment, data from Savills India, a global property consulting firm, showed. Experts said that alternative sectors like data centres, life sciences and mixed-use developments are also set to grow. Data showed that the Indian real estate sector saw $4.3 billion (Rs 35,600 crore) private equity (PE) investments during 2024, reflecting a 10 percent increase year-on-year. PE investments in the real estate sector in 2023 stood at $3.9 billion (around Rs 33,500 crore). Foreign institutional investors accounted for 88 percent of the total investment activity in 2024, reinforcing their dominant role in driving growth in the real estate sector. Market observers said that despite geopolitical challenges, high global inflation and economic recessionary concerns, private equity investments maintained the momentum, offering favourable opportunities for both global and domestic institutional investors. Driven by India's strong economic growth, 2024 witnessed a steady resurgence in investor confidence in the Indian real estate market. Data showed that though the office sector saw a decline in its share, it remained resilient at 29 percent of total PE investment, supported by the gradual return to workplaces and increasing office space absorption. Arvind Nandan, Managing Director, Research & Consulting, Savills India, said that private equity investments in Indian real estate have shown remarkable resilience amid global uncertainties, reflecting a strategic shift towards diversification. “The recent trends indicate India's growing role as a supply chain hub, positioning the industrial and logistics sector at the forefront of PE inflows. While the commercial office segment continues to attract steady interest, the rise in demand for premium housing has also positioned the residential sector as a key investment avenue,” he said. Niranjan Hiranandani, Chairman, National Real Estate Development Council (NAREDCO) said that the robust PE funding growth underscores the sector's robust appeal, with foreign institutional investors accounting for an impressive 88 percent of total investments, reinforcing their continued dominance in the market. "Significantly, the industrial and logistics sector secured the highest share of PE investments. This bullish outlook can be attributed to the availability of Grade A assets in the peripheral cities of major metros, bolstered by last-mile connectivity through multi-modal transit infrastructure. This development is expected to reduce logistics costs, enhance India's global competitiveness, and support manufacturing growth aligned with the 'PLI' and 'Make in India' schemes," he said. Key investment transactions According to Savills India, some of the key investment transactions in India during 2024 include a $1,537 million partnership investment by the Abu Dhabi Investment Authority (ADIA) and KKR in Reliance Retail Ventures Limited. Another transaction includes a $263 million partnership investment by GIC and Xander Investment Management in a venture with the Shapoorji Pallonji Group and Allianz Group. A $203 million investment by Blackstone in logistics firm LOGOS India marks the third key investment transaction in Indian real estate sector. Outlook Experts projects private equity investments in real estate to reach $4.5 billion to $5 billion in 2025. Amidst limited investible grade assets, the office segment might see muted investments, while alternative sectors like life sciences and data centres are poised for prominence. Nandan said that the industrial and logistics sector is expected to remain a key focus area as India strengthens its position as a global logistics hub. The rise of Alternative Investment Funds (AIFs) is likely to bring a structural shift in the investment landscape, with emerging sectors gaining prominence. “Looking ahead, we expect sustained growth in private equity inflows, with foreign institutional investors playing a dominant role. The growing adoption of REITs will also play a key role in shaping the future of the real estate investment landscape,” he said.
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2024-12-30 16:17
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2024-12-30
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16:17
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moneycontrol.com
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https://www.moneycontrol.com/technology/samsung-galaxy-s25-slim-to-feature-new-alop-camera-technology-what-is-it-and-why-it-is-important-article-12900298.html
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Samsung Galaxy S25 Slim to feature new ALoP camera technology: What is it and why it is important
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Galaxy S24 series.
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Samsung is gearing up to launch the Galaxy S25 series in early January 2025. The lineup is speculated to include three models – Galaxy S25, Galaxy S25+ and Galaxy S25 Ultra. Speculation also suggests that Samsung will introduce an all-new product – Galaxy S25 Slim — at the Galaxy Unpacked event. Ahead of the official announcement, leaks and rumours about the ‘Slim’ model have surfaced online and the latest one suggests that Samsung might put a new camera sensor with ALoP technology to keep the camera module smaller to fit better in the slimmer form factor. Galaxy S25 Slim to come with new camera technologyAccording to the tipster Jukanlosreve who posted the details on X, about the new camera technology that Samsung is expected to use with the Galaxy S25 Slim. The technology in question is ALoP (All Lenses on Prism) which was recently announced by Samsung and it claims to keep the camera module slimmer without compromising the camera quality. What is Samsung’s ALoP technology? ALoP technology revolutionises smartphone telephoto cameras by enabling larger lenses without increasing camera bump thickness. Traditional folded optics place large-diameter lenses vertically, limiting design flexibility and creating thicker camera modules for brighter images. ALoP repositions these lenses horizontally on the prism, aligning them with the smartphone’s body plane. This innovative arrangement allows for a larger effective pupil diameter (EPD), producing brighter images without adding bulk. Additionally, ALoP reduces the overall module length by optimizing lens placement, offering a more compact design while maintaining superior optical performance. It paves the way for sleek smartphones with advanced telephoto capabilities. Why it is important for Galaxy S25 SlimThe technology will play an important role in the phone’s camera capabilities. The technology will be used by Samsung to keep the form factor slimmer using the technology and offer a telephoto lens as well.
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2024-12-30 16:09
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2024-12-30
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16:09
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moneycontrol.com
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https://www.moneycontrol.com/news/business/higher-outflows-from-banking-system-sucks-out-liquidity-infused-via-crr-cut-12900272.html
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Higher outflows from banking system sucks out liquidity infused via CRR cut
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Reserve Bank of India.Related stories.
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Higher outflows from the banking system in December has sucked out liquidity, which was infused through the cut in cash reserve ratio (CRR) by the Reserve Bank of India. Experts said that the cut in CRR has helped the liquidity to remain in moderate deficit during the heavy outflow, which otherwise would have been higher. “CRR cut has certainly helped otherwise the liquidity deficit would have been larger,” said Alok Singh, Group Head Treasury at CSB Bank. He further added that the 50 basis points (Bps) CRR cut is not enough, another 50 bps cut is required to ease the pressure on banks which is reflected in significantly higher short-term lending rates. Banking system has received liquidity worth Rs 1.16 lakh crore after the CRR cut by the RBI. The liquidity was infused in two tranches on December 14 and December 28. The central bank has cut the CRR to provide support to the liquidity in the banking system, which was expected to witness heavy outflows because of advance tax and goods and services tax payments. The banking system witnessed outflows of over Rs 3 lakh crore on back of tax payments. Currently, liquidity in the banking system is estimated to be in deficit of around Rs 1.83 lakh crore, as per RBI’s data. The heavy deficit liquidity has pushed weighted average call money rate to trade over RBI’s repo rate on most days in December. According to the RBI's data, weighted average call money rate remained in the range of 6.50-6.71 percent, which was almost 20 bps higher than the repo rate. Usually, when the call money rate rises, it impacts the other short-term rates such as rates on commercial papers, certificates of deposit, and treasury bills. Going ahead, liquidity is expected to remain tight and this will lead to higher call money rate. Former RBI Governor Shaktikanta Das, during post-policy press conference earlier this month, also said the central bank expects tight liquidity in the remainder of the financial year. Anshul Chandak, Head of Treasury at RBL Bank said more liquidity support may be required if forex intervention by the RBI continues.
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2024-12-30 15:55
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2024-12-30
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15:55
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moneycontrol.com
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https://www.moneycontrol.com/news/business/moneycontrol-pro-panorama-welcome-support-for-h-1b-visas-12900235.html
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Moneycontrol Pro Panorama | Welcome support for H-1B visas
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Indian IT services companies are adapting to heightened visa constraints..Related stories.
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Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. The much-maligned H-1B visas are finally receiving due attention. Over the weekend, US President-elect Donald Trump came in support of the H-1B visa programme after his supporters -- Elon Musk andMAGA-- clashed over immigration policies. Talking to the US media, Trump said he is in favour of the visa programme that supports immigration of skilled labour. The comments mark a welcome change in Trump’s thinking process who in his first term as US President curbed H-1B visas. The H-1B application rejection rates spiked during that time. Much has changed between Trump’s first presidency and now. The unemployment rate has eased from COVID highs. And as US steps up efforts to stop illegal immigration, there is an increasing realisation that the country requires skilled workers to maintain its edge in new technologies. This should bring relief for India and its IT services industry even though one cannot be certain about the future policy direction in a politically divided America. As such, Indian IT services companies are adapting to heightened visa constraints. They have increased hiring in the customer markets and are using offshoring to overcome cost constraints. Data indicate a notable reduction in US H-1B visa applications by major IT services companies in recent years even though Indians remain large beneficiaries of this visa programme. If the incoming Trump administration walks the talk on tax cuts, fewer regulations and business-friendly measures, then it can infuse fresh air into Corporate America, a positive for Indian IT services. “Our findings indicate that IT services vendors are now largely immune to immigration shocks,” analysts at Motilal Oswal Financial Services said in a note. Managements of IT services companies are indicating an incremental improvement in the banking, financial services and insurance vertical in the US, a large business segment. Accenture’s revenues in the recently concluded quarter exceeded its guided range and the management signalled no major deterioration in the business environment. While ITbudgets for calendar year 2025 will be eyed, investors should also keep a tab on inflation and US Federal Reserve monetary policy. Investing insights from our research team Discovery Series: Welspun Living – A sound canvas for investors ICICI Prudential Life: Poised to deliver strong growth What else are we reading? Moneycontrol Pro Market Outlook | Holiday season expected to keep markets subdued External factors will have a major impact on India’s economy in 2025 Will 2025 be the year of the Trump Tantrum in the currency markets? Chart of the Day: Renewable energy capacity additions accelerate in 2024 In death, Manmohan Singh has managed what he couldn’t in life – a fair appraisal in the media Will Ajay Bhalla’s appointment as Manipur governor bring peace to the troubled state? Technology: What to watch out for in 2025 The systemic financial risk at the heart of Trump Mk II(republished from the FT)Manmohan Singh: A gentle colossus Jobs conundrum in a red-hot economy Markets Even while on regulatory radar, BSE SME IPO index surge far outpaces all other benchmarks globally Tech and Startups Funding winter to IPO frenzy: How Indian startup ecosystem went back on the boil in 2024 Technical Picks:HCL Tech, BAJEL. R Sree RamMoneycontrol Pro
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2024-12-30 15:49
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2024-12-30
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15:49
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moneycontrol.com
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https://www.moneycontrol.com/news/opinion/what-is-plaguing-kashmir-s-saffron-industry-12900116.html
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What is plaguing Kashmir’s saffron industry?
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The decline in both saffron production and the area under cultivation can be attributed to several factors..Related stories.
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The saffron industry in Kashmir is facing a severe crisis, characterised by a significant decline in production and shrinking land dedicated to saffron cultivation. According to data from the Department of Agriculture, Kashmir, saffron production through traditional farming has declined from 15.9796 metric tonnes (MT) in 1997-98 to just 3.4827 MT in 2021-22. Saffron, also known as the "king of spices," was cultivated on 5,707 hectares of land in 1997-98, which has shrunk to around 3,715 hectares by 2021-22. Launched nearly a decade ago to boost saffron production in the Valley, the National Saffron Mission has failed to achieve its goals, with farmers stating that it has brought no benefits to the industry. The decline in both saffron production and the area under cultivation can be attributed to several factors, including conventional farming practices, land contraction, poor market management, adulteration, the influx of cheaper Iranian imports, climate change, and a general lack of interest in farming. However, these challenges have intensified with the recent presence of numerous porcupines in saffron fields, which now span hundreds of acres. Covered in quills, the porcupine emerges from its burrow at night and damages saffron corms, particularly during the ongoing winter season. The saffron crop, famous for its aroma and colour, has been neglected for decades, with the latest threat now coming from the Indian crested porcupine (Hystrix Indica), locally known as "Draen" in Kashmiri. Protected under Schedule IV of the Indian Wildlife Protection Act of 1972, porcupines have rapidly increased in the Kashmir Valley in recent years, and with the loss of forest cover, their growing population poses a significant threat to saffron farms. This complicates control efforts, as farmers are unable to harm the animals. According to Global Forest Watch (GFW), Jammu and Kashmir had 660,000 hectares of natural forest in 2010, covering 8.3% of its land area. However, by 2023, the region had lost 51 hectares of this forest. Porcupines have been causing extensive damage to saffron beds in Kashmir, with farmers losing around 15 to 20 percent of planted corms each year. The growing threat is severely impacting livelihoods in the region, as the rodent's nocturnal feeding habits destroy the delicate saffron crop. Farmers have sounded the alarm that the increasing porcupine infestation could be the final nail in the coffin for saffron, the "red gold," in the valley, as the rodents are not only feeding on the crop but also causing severe damage by devouring and destroying it completely. The heritage crop, used as a valuable spice in cuisines and various medicinal preparations, provides bread and butter to around 32,000 families in the Valley, including 11,000 women. According to experts, India’s saffron capital, Pampore, and its surrounding areas are highly susceptible to porcupine infestations due to their proximity to forested regions that harbour these rodents. From there, the porcupines move towards the elevated tablelands, known as karewas, where saffron is cultivated. Saffron farmers in Kashmir, already battling multiple challenges, have managed to continue cultivating the prized crop despite reduced production and shrinking land. However, with the added threat of rodent infestations, the industry is now facing further decline, painting a grim future for saffron, the world’s costliest spice. The unchecked proliferation of porcupines, with little effort to control the menace, has led to visible holes in saffron fields, threatening the crop that has brought wealth to the region for over 3,500 years. Despite farmers' efforts to deter porcupines with lights and horns, their nocturnal activity remains a serious threat, with no effective solution available to protect saffron fields from these continuous attacks. Many farmers have even attempted garlic spray and planting Iris hookeriana and Iris kashmiriana to repel rodents, but these methods have done little to ease the crisis. Agriculture experts are urging the Department of Agriculture, Kashmir, to collaborate with Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST) for research on effective repellents and rodenticides to combat the growing porcupine infestation damaging saffron fields. The experts also advised the Wildlife Department to install traps for the relocation of porcupines to forests. Delayed action could result in major economic losses, with even 5% damage to saffron costing the region up to Rs 29 million annually, threatening the livelihoods of thousands dependent on the saffron industry. Last winter, officials from the Agriculture Department and SKUAST-Kashmir applied an organic repellent spray on saffron fields to combat the growing damage caused by porcupines and protect the crops from further destruction. With reduced yields and growing challenges, many farmers are being forced to abandon saffron farming and switch to other occupations, threatening the future of the Rs 375 crore industry. India, the second-largest saffron producer after Iran, produces 90% of its saffron in Pampore, Kashmir, which accounts for 7% of global production. While Spain is the world's largest exporter of saffron, Kashmir produces the highest quality, with its saffron containing 8.72% crocin—responsible for its distinct aroma and medicinal properties—compared to just 6.82% in Iranian saffron.
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2024-12-30 15:37
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2024-12-30
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15:37
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moneycontrol.com
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https://www.moneycontrol.com/news/india/from-rg-kar-rape-murder-to-bareilly-serial-killings-the-most-shocking-crimes-of-2024-that-shook-india-12900114.html
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From RG Kar rape-murder to Bareilly serial killings: The most shocking crimes of 2024 that shook India
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Several crime stories made headlines and sparked outrage in the country in 2024..Related stories.
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2024 witnessed several spine-chilling and high-profile crimes, sending shockwaves across the nation and igniting widespread outrage as well as criticism. From the gruesome rape-murder of a young doctor in Kolkata and the horrific Pune Porsche crash to the high-profile political assassination in Mumbai, several crime stories made headlines and sparked outrage in the country. According to an assessment of crime rates (2024) by World Population Review, India ranks 79th among 197 countries. Among other violent crimes in India, crime against women continues to be a deeply concerning issue. It has been over a decade that the Nirbhaya Act was introduced which enforced stricter punishments for the guilty and faster trials, however, women in India face a wide spectrum of threats to their safety even today. As 2024 comes to a close, here's a look at some of the most brutal incidents that left India in disbelief: 1. RG Kar rape-murder case A trainee doctor was brutally raped and murdered in Kolkata's RG Kar Medical College and Hospital. The CBI had filed a chargesheet against the prime accused, Sanjay Roy, for the rape-murder of the on-duty doctor whose body was found on August 9 with signs with multiple injuries. As per the chargesheet, a civic volunteer with the local police Roy allegedly committed the crime when the woman was resting in the hospital's seminar hall. Doctors across the nation have spearheaded protests and the Mamata Banerjee administration's handling of the case left the Bengal CM open to attacks from all sides. Doctors across the nation spearheaded protests. Both the BJP and the Left criticised the Bengal government. The victim's parents, too, alleged that there have been attempts to cover up the truth. What came across as extremely insensitive and disheartening was the Rs. 10 lakh offer made by Mamata Banerjee to the woman's parents. 2. Baba Siddique killing In one of India's most high-profile assassinations, former Maharashtra minister and Nationalist Congress Party (NCP) leader Baba Siddique was murdered in Mumbai on October 12, 2024. The 66-year-old leader, who sustained two bullet injuries to his chest, was shot near his son Zeeshan Siddique's office in Bandra. Lawrence Bishnoi's alleged aide Shubu Lonkar claimed responsibility for the murder of Siddique in a Facebook post. However, the Mumbai Police told a special court that the name of Anmol Bishnoi, younger brother of jailed gangster Lawrence, has emerged as the main conspirator in the killing of the NCP leader. The police also said that Anmol had sent Rs 40,000 to one of the accused and had gotten in touch with the gang members through social media apps like Snapchat. The Mumbai Crime Branch and the Uttar Pradesh Police Special Task Force (STF) arrested prime accused Shiv Kumar Gautam along with four others in November from an area near the Nepal border. So far, the Crime Branch has arrested 26 accused in connection with murder of Siddique. The Mumbai Crime Branch and the Uttar Pradesh Police Special Task Force (STF) arrested prime accused Shiv Kumar Gautam along with four others in November. A prominent political figure of Maharashtra, Baba Siddique's grand iftar parties gained huge popularity and became an annual event with the who's who of politics and Bollywood attending it. 3. Renukaswamy murder Another high-profile case that made headlines in 2024 involved popular Kannada actor Darshan Thoogudeepa. He was arrested on June 11 in connection with the murder of his fan Renukaswamy. The 33-year-old's body was found with multiple injuries at Sumanahalli Bridge in Bengaluru on June 8. The Bengaluru police had, in November, filed a 1,300-page supplementary chargesheet in the case implicating the movie star and his associates. As per the autopsy report, Renukaswamy suffered 39 injuries, including a broken chest bone and damage to his testicles, leading to his death. It also revealed that the victim had a deep, bleeding head injury and a torn ear. The victim had sent obscene messages to Darshan's friend Pavithra Gowda, which allegedly resulted in his murder. Renukaswamy (R) had sent obscene messages to the Kannada actor's girlfriend Pavitra. On December 13, the Karnataka HC granted bail to Darshan, Pavithra and few others nearly six months after their arrest. 4. Pune Porsche case On May 19, two IT professionals (Aneesh Awadhiya and Ashwini Koshtawere) were killed in Pune's Kalyani Nagar after their motorcycle was hit by a speeding Porsche car. The luxury car was allegedly driven by a juvenile Vedant Agarwal in an inebriated condition. The case sparked massive uproar across the country after the Juvenile Justice Board (JJB) granted bail to the 17-year-old accused on very moderate terms - which included writing a 300-word essay on road safety, studying traffic safety norms and undergoing deaddiction counselling. This decision drew severe criticism, prompting the government to initiate an inquiry into the actions of the JJB members. Further probe also revealed that the minor's blood sample was swapped with his mother's. The father and grandfather of the accused teen, who were arrested over charges of kidnapping and wrongful confinement of a family driver, were granted bail in July. However, the minor's parents are behind bars as there has been no court relief for them in the blood swapping case. 5. Bengaluru fridge murder In one of the most chilling murders of 2024, a 29-year-old Bengaluru woman was found chopped into around 50 pieces and stored in a fridge. Mahalakshmi's body was recovered from a single-room flat in Bengaluru's Malleshwaram on September 21. The prime suspect, Mukti Ranjan Roy, was found hanging from a tree in Odisha days after the horrific incident came to light. Mukti Ranjan and Mahalakshmi, who was separated from her husband, were in a relationship. However, there were frequent arguments and physical fights between Mukti and Mahalakshi, with some disputes spilling out into the street just outside her home in Vyalikaval. Probe revealed that the victim was allegedly pressuring Mukti to marry her which led to constant arguments between them. Irked over this, the prime accused killed Mahalakshmi and later dismembered her body. Probe revealed that the victim was allegedly pressuring the accused Mukti Ranjan Roy to marry her. The case had striking similarities with that of 27-year-old Shraddha Walkar's killing in Delhi in 2022. She was killed by her live-in partner Aaftab Poonawala who chopped her body into 35 pieces. Poonawala then threw the body parts in a forested area in Delhi. 6. Delhi triple murder Three members of a family - a couple and their daughter - were found murdered in South Delhi' Neb Sarai on December 6. However, within hours of the bodies being recovered Delhi police cracked the case and arrested the accused. The killings were carried out by the couple's son Arjun Tanwar, a Delhi University student. Arjun, a state level boxer, slit the throats of his parents Rajesh and Komal Tanwar and his sister Kavita. Police recovered Arjun's blood-stained sweatshrt as well as the murder weapon (an Army knife) from Sanjay Van. They claimed that Rajesh had humiliated and thrashed Arjun in front of relatives and neighbours just days before the shocking triple murder. Arjun chose December 4 to carry out the grisly murders since it was the marriage anniversary of his parents. Arjun, a state level boxer, slit the throats of his parents and his sister. During the probe, the accused revealed that he first killed his sister by slitting her throat while she was asleep. He then went upstairs where he stabbed his father in his neck and slit his mother's throat. 7. Bareilly serial killings Bareilly in Uttar Pradesh was in the grip of terror for over a year as 9 middle-aged women were found murdered in a similar fashion. The victims were found strangled in fields with their clothes disheveled. However, there were no signs of sexual assault. All the women (in the age group of 45-65) were either strangled with sarees or dupattas. The spate of killings began in June 2023 when three women were found dead in fields in three different villages. These were followed by one each in July, August and October and two murders in November. The UP police sprung into action with an additional force of 300 cops patrolling and keeping an eye on notorious criminals. Suddenly there were no such incidents for about 7 months, bringing relief to the people of Bareilly. It was in July 2024 that the accused found his ninth target and striked with the same modus operandi. Kuldeep Kumar Gangwar was arrested in August 2024. The serial killer's reign of terror finally came to an end with 35-year-old Kuldeep Kumar Gangwar's arrest in August. The Bareilly resident was arrested three days after the Bareilly police released sketches of three suspects based on eye-witness descriptions. Based on interrogation, cops revealed that Kuldeep's married life had fallen apart and his wife had left him. He resorted to drinking alcohol and soon started targeting women in nearby jungles. While growing up, he often saw his mother being brutally thrashed by his father at the instigation of his second wife. A cop involved in the probe said that the accused specifically targeted middle-aged women because of his hatred for his stepmother. 8. Bengaluru CEO son murder 2024 began with the sensational murder of a 4-year-old boy by his mother Suchana Seth, a Bengaluru-based start-up CEO. The 39-year-old accused was arrested from Karnataka's Chitradurga on January 8 when she was travelling with her son's body concealed in a suitcase. Seth killed her son in a Goa hotel room over an ugly custody battle with her husband Venkat Raman. It was the alert housekeeping staff of the hotel who informed the cops soon after the woman exited the place with a bag in hand. The hotel staff had found blood-stained towels in the room and couldn't find Seth's son. Accused Suchana Seth was CEO of a Bengaluru-based start-up. Cops recovered a handwritten note, scribbled hastily and purportedly with an eyeliner. "Court and my husband pressuring me to give custody of my son. I cannot take it anymore ... My ex-husband is violent ... he used to teach bad manners to son. I am extremely guilty and frustrated. I love my son, but I did not want to see him meeting his father," it read.
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2024-12-30 15:26
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2024-12-30
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15:26
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moneycontrol.com
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https://www.moneycontrol.com/news/business/fmcg-firms-expect-gradual-recovery-in-2025-amid-easing-inflation-and-rural-growth-12899748.html
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FMCG firms expect gradual recovery in 2025 amid easing inflation and rural growth
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File photo.Related stories.
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India's fast-moving consumer goods (FMCG) companies, which faced a demand-led slowdown in 2024, anticipate a gradual recovery in 2025, with some improvements likely in the second half of the year. Company executives and analysts cite easing inflation, the shift towards premiumisation, and the full impact of rural recovery among the reasons for the gradual growth. "The outlook for consumption appears positive, with growth expected to pick up in the next one or two quarters. While food inflation has been a significant drag, recent signs of easing inflation, coupled with favourable factors, such as strong crop yields and increased government expenditure on infrastructure and rural initiatives, signal a recovery," said Harsha V Agarwal, Vice Chairman & Managing Director, Emami Ltd. Furthermore, rising investments from both the public and private sectors are likely to enhance demand for skilled labour, potentially driving urban consumption. This combination of factors is expected to create a sustainable momentum for economic improvement in the near future, Agarwal added. A surge in food inflation in 2024 disrupted consumption patterns across mass-category products. Retail inflation peaked in October when the Consumer Price Index (CPI) reached 6.21 percent, rising from 5.02 percent in September. This marked the highest inflation rate in over a year and exceeded the Reserve Bank of India’s tolerance band of 2-6 percent. Consumer demand from the lower-middle class and middle-class families remained subdued, thereby slowing volume growth for the companies, which struggled to reach double digits in the first half of FY25. Premium categories to drive value growth However, sluggishness in the urban markets was soon offset by the robust rural recovery and rising trend towards premiumisation. While companies protected profits via price hikes, the willingness to pay higher for premium products helped drive their value growth. "Certain sub-segments have grown tremendously, demonstrating micro-strategies aligned to changing consumer preferences is a bankable strategy. However, for companies operating at a large scale these green shoots have shown promise but not made a material impact," said Nikhil Sethi, National Leader Consumer Goods and Co-Lead Customer & Operations at KPMG. Analysts expect the premiumisation trend to gather momentum as consumers are more willing than ever to invest in premium goods across categories like personal care, home care, and processed foods. Rural recovery to support FY26 growth "What we believe is that FY25 is unlikely to be a great year for FMCG demand recovery. However, we expect FY26 to show signs of improvement, driven by lower inflation and the full impact of rural recovery," said Priyam Tolia, Analyst at Axis Securities. "Government initiatives or easing inflation typically take time to translate into increased demand. The shift towards quick commerce has also led to significant channel corrections, particularly in the general trade segment. As a result, we don’t foresee a substantial rebound in FY25, but FY26 looks more promising," he added. FMCG demand in rural India is projected to grow up to 400 basis points higher than urban demand, according to TeamLease. Meanwhile, industry experts note that the shift from urban to rural markets is not a temporary trend. "For brands in the FMCG and consumer durables sectors, this is an opportunity to build sustainable growth by continuously engaging with rural customers in ways that go beyond the festive season," said Akhilesh Chopra Director, Strategy & Growth at WebEngage, a customer engagement and retention platform that helps businesses deliver personalised communication across multiple channels. For instance, soft drink brand Coca-Cola said it is expanding AI-powered tools like Coke Buddy in rural India to improve accessibility and convenience.
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2024-12-30 15:26
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2024-12-30
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15:26
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/mahindra-electric-gets-rs-650-crore-as-second-tranche-of-funding-from-british-international-investment-12900242.html
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Mahindra Electric gets Rs 650 crore as final tranche of funding from British International Investment
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The partnership is aimed to 'accelerate growth of the four-wheel passenger EV business and get growth capital to fund the business', Mahindra Group had said two years ago..Related stories.
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Funds worth Rs 650 crore will be infused into M&M's EV arm Mahindra Electric Automobile (MEAL) by British International Investment Plc (BII), lower than what was previously planned, taking the shareholding of BII Group in the automotive player in the range of 2.64-4.58%, a company filing said on December 30. Shares of Mahindra And Mahindra are down by over a percent on December 30. BII - the development financial institution of the UK government- had shared itsintention to invest Rs 1,925 crore($250 million) in two tranches in MEAL in February 2023. The first tranche of Rs 1,200 crore was completed in June 2023. Mahindra had at the time of the announcement said that the partnership is aimed to 'accelerate growth of four-wheel passenger EV business and get growth capital to fund the business'. BII's total investment, and shareholding in MEAL, would be lower than what was initially planned in February 2023. The second tranche was previously proposed to be Rs 725 crore, subject to certain milestones agreed upon between the companies. In 2023, Temasek too had agreed to invest Rs 1,200 crore in MEAL in tranches at a valuation of upto Rs 80,580 crore, which would mean an ownership between 1.49-2.97%. M&Mhas said that as part of its EV vision, the group plans to invest Rs 12,000 crore between FY25-27 to set up manufacturing facility, development and production of its upcoming SUV electric vehicles. This is being updated.
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2024-12-30 15:16
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2024-12-30
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15:16
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moneycontrol.com
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https://www.moneycontrol.com/technology/researcher-discovers-iphone-setting-that-shares-photos-with-apple-raises-privacy-concerns-article-12900221.html
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Researcher discovers iPhone setting that shares photos with Apple, raises privacy concerns
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iPhone.Related stories.
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What happens on your iPhone does not stay on your iPhone, apparently. Recent findings by a developer have raised serious questions about Apple's data-sharing practices. In his report, developer Jeff Johnson has uncovered a feature called "Enhanced Visual Search," which is turned on by default in all Apple devices. We were able to confirm this when we checked our iPhone 16. The seemingly harmless feature gives your device permission to share data from your pictures with Apple. Let’s break it down. What is Enhanced Visual Search? Enhanced Visual Search is a feature in the Photos app that lets you search for images using landmarks or points of interest. For example, if you type “Eiffel Tower,” the app will recognize relevant photos in your gallery. This is achieved by comparing the locations in your images to a global index stored on Apple’s servers. While the feature sounds convenient, its functionality comes with privacy concerns. How does it share data? When you use Enhanced Visual Search, your device sends information to Apple’s servers. According to Apple, this process is designed with privacy in mind. They use advanced techniques like homomorphic encryption, differential privacy, and an OHTTP relay to anonymize and protect your data. These methods prevent Apple from knowing specific details about your photos or identifying you. However, as Johnson points out, the data still leaves your device, which raises questions about absolute privacy. While Apple assures that their methods are secure, no system is entirely free from vulnerabilities or bugs. This risk makes some users uneasy. Why was it enabled by default? One of the major criticisms is that Enhanced Visual Search is turned on automatically without user consent. This silent activation goes against the principle of letting users decide how their data is used. For many, this feels like a breach of trust, especially given Apple’s marketing slogan: “What happens on your iPhone, stays on your iPhone.” How to turn it off If you’re uncomfortable with this feature, here’s how to disable it: –On iPhone/iPad: Go to Settings > Apps > Photos and toggle off Enhanced Visual Search.–On Mac: Open the Photos app, navigate to Settings > General, and turn off the feature. At the end of the day, privacy preferences vary. Some may find Enhanced Visual Search useful, while others, like Jeff Johnson, prefer not to take the risk. The good news is that you have the option to opt out – now that you know about it.
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2024-12-30 15:16
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2024-12-30
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15:16
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moneycontrol.com
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https://www.moneycontrol.com/technology/flipkart-is-offering-big-discount-on-iphone-15-all-the-details-article-12899939.html
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Flipkart is offering big discount on iPhone 15: All the details
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iPhone 15.Related stories.
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If you’ve been planning to upgrade your smartphone, Flipkart’s latest offer on the iPhone 15 is a deal you can’t afford to miss. The iPhone 15 128GB variant is currently listed at Rs 58,999, significantly down from its original price of Rs 69,900. This flat discount of over Rs 10,000 already makes it an enticing deal, but for existing iPhone users, the savings don’t stop there. Offers on iPhone 15 on Flipkart Flipkart is offering a trade-in program that allows you to exchange your old iPhone 13 for up to Rs 30,000. This amount includes an exchange bonus of Rs 6,000, which significantly reduces the cost. With this offer, the effective price of the iPhone 15 drops to an incredible Rs 28,999, making it the lowest price ever for this premium device. Should you buy iPhone 15? At this price point, the iPhone 15 is a steal, even though it’s not Apple’s latest release. Powered by the robust Apple A16 Bionic chipset and running on iOS 17, it delivers lightning-fast performance and a seamless user experience. The device features a 6.1-inch Super Retina XDR display with stunning color accuracy and sharpness, perfect for gaming, streaming, or daily use. Photography enthusiasts will appreciate the dual-camera system, which includes a 48MP primary sensor and a 12MP ultra-wide lens, enabling professional-quality photos and videos. The 12MP front camera, enhanced by Apple’s image processing, ensures exceptional selfies. Additionally, the iPhone 15 offers a USB Type-C port, fast charging, and a 3349mAh battery for convenience and long-lasting usage. For those who want a premium Apple experience without breaking the bank, this Flipkart deal makes the iPhone 15 an irresistible choice. Don't miss the chance to grab this flagship phone at an unbeatable price!
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2024-12-30 15:12
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2024-12-30
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15:12
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moneycontrol.com
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https://www.moneycontrol.com/news/business/india-inc-seeks-higher-capex-lower-tax-rates-in-fy26-budget-12900241.html
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India Inc seeks higher capex, lower tax rates in FY26 Budget
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Finance Minister Nirmala Sitharaman.Related stories.
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Representatives from the Indian industry sought higher capital expenditure and lower tax rates in a meeting chaired by Finance Minister Nirmala Sitharaman on December 30 ahead of the Union Budget for 2025-26. While Confederation of Indian Industry (CII) recommended raising the allocation for capex by 25 percent in theBudgetfor 2025-26 over the Rs 11.11-lakh-crore earmarked for the current financial year, Federation of Indian Chambers of Commerce & Industry (Ficci) suggested a hike of 15 percent in the outlay. CII also suggested steps to boost consumption by reducing the marginal tax rates for personal income up to Rs 20 lakh per annum, a cut in excise duty on fuel, and by increasing in the minimum wage rate under the Mahatma Gandhi National Rural Employment Guarantee Scheme. The industry body further said the Centre should avoid sharper contractions and target a fiscal deficit of 4.5 percent in FY26 keeping in view demand conditions. On the tax front, Ficci, too batted for simpler rates. "Rationalise the multiple TDS/TCS rates by converging them into a simple two or three-tier rate structure which will avoid classification disputes and prevent blockage of working capital in the industry. Also, stop the practice of imposing TDS/TCS on transactions that are subject to GST since the relevant information is available through GST filings," it suggested. To spur employment, CII recommended introducing production-linked incentive (PLI) scheme 2.0 for ready-made garments, expedited trade pacts with the European Union and the United Kingdom and implementation of labour reforms, while PHD Chamber of Commerce & Industry suggested expanding the PLI scheme beyond the 14 sectors to medicinal plants, handicrafts, leather and footwear, gems and jewellery, and the space sector. To boost women’s participation in the workforce, Ficci said that the government could consider a special tax exemption up to a defined limit for working females on expenses incurred on childcare for children up to the age of five years. Multiple industry lobbies batted for more credit and lower tax burden for Micro Small & Medium Enterprises (MSMEs). Assocham recommended an additional allocation or net to enhance the credit flow to MSMEs, much like the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) launched during Covid. It also asked the Centre to mandate banks to periodically disclose the number and amount of collateral-free loans granted to MSMEs. Some of the other suggestions offered by the industry bodies: • Three-tier customs tariff structure for inputs at 0 - 2.5 percent, intermediates at 2.5 - 5.0 percent, and for final goods at 7.5 percent over a period of time, with certain exceptions (CII) • Divestment in select PSEs to retain 51 percent to unlock about Rs 10 lakh crore, which could be utilised for enhancing public capex, retiring government debt, and setting up a sovereign wealth fund (CII) • National Monetisation Pipeline (NMP) 2.0 for the period 2026 to 2030 with a target of Rs 10 lakh crore (CII) • Vouchers to parents of schoolgoing children in form of e-Rupi to be redeemed at schools chosen by parents to send children to. Focus on outcome of schools, incentivise virtuous competition among schools both government and private (Ficci) • Higher allocation for public health expenditure to 2.5 percent of the GDP by 2025, as promised in the National Health Policy 2017 (Ficci) • Double deduction for health insurance premiums under Section 80D to Rs 50,000 and expansion of eligible dependents under this provision to encourage broader coverage • Reduced tax rates for individuals and limited liability partnership (LLP) firms to 25 percent (PHDCCI) • Removal of inverted duty structure in industries such as cement, aluminium, steel, packaging material, paper and paperboard industry (PHDCCI) • Extended scope of presumptive taxation to MSMEs and new-age businesses like data centers, data hosting, cloud computing (Assocham) • MSME universities to promote skill development and entrepreneurship training as well as to foster growth within the sector (Assocham)
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2024-12-30 14:57
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2024-12-30
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14:57
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moneycontrol.com
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https://www.moneycontrol.com/news/business/stocks/suzlon-energy-stocks-recovering-from-lows-following-overturning-of-tax-penalty-12900216.html
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Suzlon Energy stocks recovering from lows following overturning of tax penalty
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Suzlon Energy's shares have gained over 60 percent despite a recent correction from its peak of Rs 86..Related stories.
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Suzlon Energystock prices are currently trading at Rs 62.31, down by 1.49 percent from opening, as at 2:31 PM, Dec 30. This is following the Company's announcement of its an income tax refund that is worth Rs 173 crore. As of 2024, Suzlon Energy's shares have gained over 60 percent despite a recent correction from its peak of Rs 86. Follow our market blog for live updates Suzlon Energy has successfully overturned a Rs 172.76 crore penalty imposed by the National Faceless Penalty Centre of the Income Tax Department. This favorable judgement from the Income Tax Appellate Tribunal ITAT was involving a penalty related to certain disallowances, including a claim of depreciation on goodwill for the financial year 2017. "Consequent to the effect giving order passed by the Jurisdictional Assessing Officer (JAO) received by the company on December 29, the JAO has cancelled the aforesaid penalty order," Suzlon said in an exchange filing. The company had announced the penalty in March 2024 and subsequently filed an appeal with the Income Tax Appellate Tribunal (ITAT). The ITAT has now ruled in favor of Suzlon. Following the ITAT's ruling, the Jurisdictional Assessing Officer (JAO) has canceled the penalty order. In Q2 FY 2025, Suzlon Energy Ltd reported 96 percent jump in net profit at Rs 201 crore due to record order wins and high margins. The renewable energy firm said its revenue rose 48 percent to Rs 2,093 crore in Q2 FY 2025. Simultaneously, EBITDA rose 31 percent to Rs 294 crore and order book was at all‐time high 5.1 GW including "India’s largest wind order from NTPC". But EBITDA margin declined to 14.1 percent from 15.9 percent in the same quarter last year.
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2024-12-30 14:51
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2024-12-30
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14:51
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/polls-policy-and-policing-how-elections-budget-sebi-rbi-all-influenced-the-indian-stock-market-in-2024-12900228.html
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Polls, policy and policing: How elections, budget, SEBI, RBI all influenced the Indian stock market in 2024
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The year gone by saw a flurry of triggers coming from the government..Related stories.
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The year gone by was especially active for the markets, with a flurry of triggers coming from the government, regulators and the political front as well in the form of elections. Let's take a look at the key government-related activities and how they moved the markets in 2024. SEBI cracks the whip Markets regulator Securities and Exchange Board of India (SEBI) cracked the whip quite hard in 2024, taking decisive action against not only individuals and organisations, but also came out with decisions that impacted the entire securities ecosystem in India. Of the two big moves SEBI undertook in 2024, the first was the stress test requirement. Mutual funds were asked to close the liquidity of a fund, so investors could assess how liquid their capital parked in these funds is. The sharp run-up in small-cap stocks caused huge mark-to-market gains, but due to the lower trading volumes, the markets regulator expressed concerns about the liquidity, in case a slew of investors decided to redeem their portfolios. The second, and arguably more impactful, move was the overhaul of the futures and options (F&O) sector. Retail investors that turned towards derivatives to make a quick buck were mostly making losses – a SEBI study pegged this share at over 90 percent - causing the regulator to revamp the regulations in the F&O space. A portion of rules came into effect on November 20, 2024, which included increased lot sizes, the reduction in the number of weekly expiries, and a bump up in contract sizes. The attempt was to rein in volatility, especially on expiry days, and also cut down retail losses. Also Read |Throwback 2024: How FPI flows and ownership changed in the year gone by Elections: NDA shocks, Trump returns Over 64 countries across the globe went to polls in 2024, marking it as the largest election year in recorded history. However, the domestic markets looked towards three key elections for cues: the Lok Sabha election in June, the US Presidential election in November, and the Maharashtra state elections held following Diwali. The Lok Sabha election results came as a shock to the markets, which had largely priced in a complete majority for the BJP-led National Democratic Alliance, with expectations of the coalition cinching over 400 seats in the party. The picture on the cards was more somber, with the BJP failing to secure a majority in the parliament. As a result, the benchmark indices took a tumble – post a huge single-day gain basis the exit polls -- crashing over six percent each, while the small- and mid-cap indices crashed over eight percent. Thereafter, the focus in the domestic landscape shifted towards the Maharashtra Assembly elections to see if the BJP-led Maha Yuti alliance could retain its stronghold. The state was especially important, since Maharashtra is the largest state in terms of GDP contribution as well as FDI inflows. With BJP’s roaring comeback in the elections, bagging 132 seats in the 288-member Assembly, investors across the world were assuaged by the results that showed that the incumbent could hold onto power. The elections in the US also played a key role in moving the Indian markets. The frontline indices Nifty 50 and Sensex closed over a percent higher each following ex-President Donald Trump’s win, with the information technology and pharma sectors seeing the most gains. The export-oriented sectoral indices have gone on to rally further, as the local currency weakens against a strengthening US Dollar. Budget: Playing fast and loose with taxes The election results took the nation by surprise. Some might go even so far as to say, the election results took the incumbent party by surprise. Many experts suggested that a series of measures announced in the UnionBudget 2024-2025 were completely populist in nature – focusing on rural empowerment, employment, and skilling – just to assuage future voters. Further, the Budget made large allocations towards Andhra Pradesh and Bihar, two states that were critical in ensuring that the BJP-led NDA clinched a majority in the Lok Sabha polls. These were also largely priced in though. What the markets did not expect was the tax curveball the Ministry of Finance threw. From the Union Budget presented in the year ago on February 1, 2023, to the Budget presented on July 23, 2024, the benchmark indices saw a whopping 40 percent rally. As a result, FinMin decided to take a larger piece of the pie, hiking the STT rate on derivatives and increasing the LTCG to 12.5 percent and STCG to 20 percent. RBI aggression The Reserve Bank of India also hogged the limelight in 2024, with serious crackdowns seen on microfinance institutions, Kotak Mahindra Bank, gold financiers, IIFL Securities, and Paytm Payments Bank. MFIs: The RBI came down on four microfinance institutions, asking the lenders to cease and desist sanction and disbursal of loans. The four firms flagged were Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance, and Navi Finserv. The central bank raised issues with the pricing policy of the firms, which were found to be excessive and not in adherence with the regulations. Gold Financiers: RBI sent Manappuram Finance and Muthoot Finance, an advisory letter limiting cash disbursal of loans. The central bank has reportedly asked both NBFCs to strictly adhere to the Income Tax Act (IT) provision on cash disbursement, and said that no NBFC should disburse loan amount in excess of Rs 20,000 in cash. Paytm Payments Bank: On January 31, RBI directed the digital lender to stop accepting deposits or credit transactions or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards after February 29. This is excluding cashbacks, or refunds. IIFL Finance: On March 4, the central bank imposed curbs on IIFL Finance, asking it to stop disbursing new gold-backed lending following “material supervisory concerns”. However, the bank lifted its restrictions on September 19, allowing the gold loan arm to resume business. Kotak Mahindra Bank: The private sector lender was barred from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards as the RBI found deficiencies in the areas of IT inventory management.
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2024-12-30 14:47
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2024-12-30
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14:47
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moneycontrol.com
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https://www.moneycontrol.com/news/business/stocks/buy-jsw-energy-target-of-rs-810-motilal-oswal-12900244.html
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Buy JSW Energy; target of Rs 810: Motilal Oswal
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Buy.
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Motilal Oswal's research report onJSW Energy JSW Energy (JSWE) announced a definitive agreement to acquire O2 Power Midco Holdings Pte. Limited, O2 Energy SG Pte. Limited, and their subsidiaries (O2 Power) for a total cash consideration of INR124.68b. We view this move positively, and following are the key implications according to us: Up to INR57/share value unlocking upon deal completion: With listed Renewable Energy (RE) generation companies currently trading at ~15x EV/EBITDA, the acquisition of 4.7GW high-quality renewable assets at ~7x EV/EBITDA unlocks ~INR57 in value, we estimate. Outlook We have a buy rating on JSWE with an SOTP-based TP of INR810/share. For all recommendations report,click here JSW Energy -Dec 30_2024 - moti
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2024-12-30 14:47
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2024-12-30
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14:47
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moneycontrol.com
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https://www.moneycontrol.com/news/business/oberoi-group-launches-employment-programme-rise-12900234.html
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Oberoi Group launches employment programme RISE
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Through RISE, the Oberoi Group aims at continuing its dedication to nurturing talent and empowering communities.Related stories.
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The Oberoi Group launched a new employment and skill development programme RISE (Refine and Invest in Skill Enhancement programme) to offer education, training and guaranteed hospitality careers to young individuals from diverse backgrounds According to the hospitality group, RISE aims to train 1,800–2,000 individuals annually starting next year. The group said that the individuals will be trained in areas such as food & beverage service, kitchen operations, front office, housekeeping and laundry. Through RISE, the Oberoi Group aims at continuing its dedication to nurturing talent and empowering communities. Selection will be carried out through top skilling organisations such as Job Plus, the Hospitality Skill Council (THSC), and the National Skill Development Corporation (NSDC), it said. "The RISE Programme is a reflection of our enduring commitment to excellence while contributing to communities we serve. Inspired by the values of our founder, Rai Bahadur MS Oberoi, who started his career as a Front Office Clerk, RISE embodies our belief that nurturing talent is essential to shaping the future of hospitality. As we celebrate 90 years of The Oberoi Group, this initiative highlights our vision of creating meaningful opportunities and a lasting legacy of care and service,” said Vikram Oberoi, CEO of The Oberoi Group. This effort also commemorates the Group's extensive heritage while catering to the changing demands of the hospitality sector. Throughout its nine decades of operation, The Oberoi Group has been renowned for its exceptional hospitality standards, as well as for nurturing talent, promoting innovation, and contributing to positive societal change. According to Shailja Singh, Chief Human Resources Officer of The Oberoi Group, this initiative underscores our commitment to inclusivity, growth, and excellence, ensuring that every participant emerges as a skilled professional ready for success. “We invite individuals aged 18-22 to embark on a rewarding hospitality career with The Oberoi Group,” Singh said. According to The Oberoi Group’s press statement, the RISE programme goes beyond technical training. It plans to provide participants with life skills and the confidence to excel in their careers. Trainees also will receive comprehensive mentorship and hands-on experience at some of The Oberoi Group’s finest hotels. As part of the RISE Programme, participants will also receive compensation as they embark on a fulfilling career, with opportunities to learn, develop, and advance within the hospitality industry and beyond, stated the press statement. The Oberoi Group, founded in 1934, currently operates 31 hotels and two Nile Cruisers. The Group has a presence in seven countries under the luxury ‘Oberoi’ and five-star ‘Trident’ brand. The Group is also engaged in flight catering, car rentals and corporate air charters.
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2024-12-30 14:44
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2024-12-30
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14:44
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/greaves-cotton-shares-surge-up-to-12-after-equity-worth-rs-131-crore-changes-hands-12900198.html
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Greaves Cotton shares soar amid Rs 131 crore large trade after Vijay Kedia's recent big bet
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Greaves Cotton.Related stories.
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Shares Greaves Cotton surged up to 12% on December 30 before paring some gains, after 43.45 lakh shares, or 1.87% of equity, worth Rs 131 crore changed hands at an average price of about Rs 312 per share, as reported by CNBC-TV18. One of its subsidiaries, Greaves Electric Mobility (GEML) had recentlyfiled draft prospectusfor a Rs 1,000 crore public issue. The IPO includes a fresh issue of Rs 1,000 crore and an Offer for Sale (OFS) of up to 18.94 crore shares by existing promoters and shareholders. Veteran market investorVijay Kedia had recently bought 12 lakh sharesof Greaves Cotton, which amounts to a 0.52% stake, for Rs 25 crore through a block deal on December 9. This is the first time the market veteran has taken a bet on the company, and the news comes after the approval for the IPO for subsidiary GEML. Greaves Cottonhas a market capitalisation of over Rs 7,200 crore, and the shares have doubled in 2024. Greaves Cotton is transitioning from a traditional engine company to a fuel-agnostic mobility solutions provider, with multiple revenue streams. Greaves Cotton's consolidated revenue for Q2FY25 reached Rs 705 crore. Its retail business, Greaves Retail, is a leading player in the three-wheeler motor and parts segment, as well as expanding into the electric 3W category. The management has plans to target Rs 15,000 crore revenue by 2030, with a diversified, multi-fuel revenue stream. This is being updated.
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2024-12-30 14:37
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2024-12-30
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14:37
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moneycontrol.com
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https://www.moneycontrol.com/news/opinion/india-s-digital-public-infrastructure-a-model-for-global-governance-12900115.html
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India’s Digital Public Infrastructure: A model for global governance
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The most significant social impact of India's Digital Public Infrastructure (DPI) has been its role in bridging the digital divide..Related stories.
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(Sanghnomics is a weekly column that tracks down and demystifies the economic world view of Rashtriya Swayamsevak Sangh (RSS) and organisations inspired by its ideology.) India’s Digital Public Infrastructure(DPI)emerged as a significant issue during the recent G20 summit hosted by India. Initially aimed at promoting financial inclusion, the initiative has gradually evolved to bridge the digital divide, achieving remarkable progress for the world’s most populous nation. Developing countries, particularly in Africa and the Indian subcontinent, are now eager to adopt this model and seek India's assistance to enhance governance within their borders. During his visit, newly elected Sri Lankan President Anura Kumara Disanayaka and Prime Minister Narendra Modi signed several agreements, with a key India aiding Sri Lanka’s digitisation efforts. In an era defined by rapid technological change, India has positioned itself as a leader in leveraging DPI to transform governance. This initiative is not merely a technological triumph; it represents a socio-economic shift that is reshaping the relationship between the state and its citizens. India's DPI—encompassing Aadhaar, the Unified Payments Interface (UPI), and various e-governance platforms—has created a groundbreaking model for inclusive growth, transparency, and efficiency. This framework has not only revolutionised governance in India but has also inspired its adoption in other developing regions, including Africa and within the Indian subcontinent itself. Understanding this transformation requires an exploration of its historical, social, and economic contexts, as well as its broader implications. Emergence of DPI in India India's journey towards establishing a Digital Public Infrastructure (DPI) began in the late 20th century, coinciding with the economic liberalisation of 1991 and efforts to modernise governance and stimulate economic growth. However, these initiatives often faced setbacks due to bureaucratic inefficiencies, corruption, and widespread denial of access to finance and public services for large segments of the population. A pivotal change occurred in2009 when the Unique Identification Authority of India (UIDAI) launchedthe Aadhaar programme, recognising the increasing demand for a universal identity system. The Aadhaar initiative aimed to provide a unique biometric identity for every citizen in this diverse and populous nation. By the mid-2010s, the government began integrating Aadhaar with various public services, ranging from subsidy distribution to tax filing, thereby laying the groundwork for a more expansive DPI ecosystem. TheDigital India initiative, launched in 2015, significantly accelerated this transformation. This ambitious programme aimed to "transform India into a digitally empowered society and knowledge economy," focusing on infrastructure, digital services, and digital literacy. The convergence and momentum from these initiatives have underpinned the development of a Digital Public Infrastructure (DPI) that seamlessly integrates governance, financial inclusion, and citizen engagement. Visible Impact The most significant social impact of India's Digital Public Infrastructure (DPI) has been its role in bridging the digital divide. Prior to the introduction of Aadhaar and the Unified Payments Interface (UPI), access to government services was often hindered by geographical, linguistic, and socio-economic barriers. For many, particularly those from rural and marginalised communities, obtaining welfare benefits, accessing banks, and pursuing education proved to be formidable challenges. By providingdigital identities to over 1.3 billion individuals, Aadhaar has integrated millions into formal governance structures. This is particularly crucial for women and marginalised groups, many of whom lacked the conventional documents typically required by traditional identity systems. Furthermore, initiatives like the Pradhan Mantri Jan Dhan Yojana (PMJDY) have linked Aadhaar to bank accounts, facilitating direct benefit transfers (DBTs) and significantly reducing reliance on intermediaries. The linkages of welfare schemes have significantly reduced leakages and fraud. Subsidies intended for cooking gas (PAHAL), food grains, the Public Distribution System (PDS), and employment guarantees through MGNREGA are now credited directly to beneficiaries' accounts with complete transparency and accountability. By 2022, the central government estimated that direct benefit transfers (DBTs) had saved the exchequer over $27 billion, as ghost beneficiaries were eliminated and administrative costs decreased. The Unified Payments Interface (UPI) has democratised access to financial services, enabling even the smallest merchants and individuals in rural areas to participate in the digital economy. In 2023, UPI processed over 10 billion transactions each month, not only simplifying payment processes but also fostering entrepreneurial growth through a low-cost, real-time payment solution. Economically Viable The high impact of Digital Public Infrastructure (DPI) on India's economic growth is particularly evident in its role in formalising the informal economy and integrating more citizens into the financial system, which has expanded the tax base and increased revenues for public expenditure. Studies suggest that the widespread adoption of digital payments and identities could boost India's GDP by 1-2% annually. Additionally, the digital ecosystem has spurred job creation in fintech, e-commerce, and IT services. Startups leveraging UPI have generated millions of employment opportunities, exemplified by innovations from companies like PhonePe, Paytm, and BharatPe. Furthermore, the e-Shram portal provides social security schemes for informal workers, safeguarding their economic interests. Influencing Governance in the Developing World The Indian success story of Digital Public Infrastructure (DPI) has inspired other developing nations to explore similar models. This influence is particularly pronounced in Africa and the Indian subcontinent, where countries face comparable challenges of financial exclusion, weak governance, and inadequate infrastructure. African nations, characterised by diverse populations and varying degrees of technological readiness, have drawn significantly from India's DPI model as they seek to address these pressing issues. Examples of Aadhaar's influence can be seen in foundational ID projects like Ethiopia's and Kenya's Huduma Namba initiative. Essentially, these systems aggregate identity data to enhance service delivery and mitigate corruption. African nations have accelerated this process by adopting India's technical expertise and open-source platforms. For instance, Nigeria launched the eNaira, while Ghana introduced GhIPSS, which is modelled after UPI, to promote cashless transactions and boost financial inclusion. These initiatives have lowered transaction costs and broadened access to financial services for previously unbanked populations, thereby improving economic participation. Other immediate neighbours have also adopted initiatives inspired by the Indian model. For instance, Bangladesh's National Identification (NID) system and the mobile financial service bKash reflect concepts similar to Aadhaar and UPI for transferring benefits and conducting various financial transactions. These collaborations have enabled the Government of India to share its experiences bilaterally with other nations, facilitating smoother adoption and adaptation of these systems.Nepal has integrated UPIfor cross-border payments, enhancing its financial connectivity with India. Similarly, Sri Lanka is exploring digital ID systems akin to Aadhaar to streamline governance and improve service delivery. In most instances, these efforts are supported by India through technical assistance and knowledge-sharing initiatives, often involving workshops and collaborative projects. Conclusion Far more than a mere technological achievement, India's Digital Public Infrastructure (DPI) represents a transformative milestone in governance and development. By integrating citizens into the digital economy, enhancing transparency in processes, fostering innovation, and creating blueprints for inclusive growth, its impact resonates from Africa to the Indian subcontinent. This demonstrates its potential as a catalyst for addressing shared challenges and unlocking new opportunities in the developing world. The willingness to share knowledge and expertise will bolster the digital capabilities of partner nations, allowing India's success story to extend well beyond its borders. Earlier Sanghnomics columns can beread here.
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2024-12-30 14:26
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2024-12-30
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14:26
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moneycontrol.com
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https://www.moneycontrol.com/technology/whatsapp-web-to-get-reverse-image-search-feature-soon-to-help-users-identify-fake-photos-article-12900225.html
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WhatsApp Web to get reverse image search feature soon to help users identify fake photos
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WhatsApp.
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The popular messaging platform WhatsApp has often been used for escalating various fake or misleading information across its millions of users. Many fake actors and hackers also use these media files for malicious purposes. To counter this growing menace, Meta is now set to introduce a reverse image search function for WhatsApp web users. WhatsApp web reverse image search: Here’s how it works Previously, the reverse image search functionality was spotted for the WhatsApp Android beta application. However, now according to a new report by WhatsApp beta tester WABetaInfo, this feature is also available on the web client through a simple tap on any image received in a chat, which will enable the reverse image search. Moreover, the report mentions that the ‘Search on the web’ option will appear in the three-dot menu located in the upper right corner of the chat screen once an image has been selected. This tool will then allow Google to perform a reverse image search, which looks for the image’s original online source. This would be beneficial to authenticate the media file as Google’s extensive database will determine whether the shared image is real or not. This tool could also offer an added layer of security by allowing WhatsApp web and app users to detect potentially deceptive content without using any third-party source. WhatsApp has also added the ability to scan documents on its iOS app with the introduction of a new in-app scanning feature. This integration eliminates the need for using third-party scanning apps, streamlining the process of scanning documents on the go.
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2024-12-30 14:22
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2024-12-30
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14:22
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/adani-enterprises-stock-emerges-top-nifty-50-gainer-zooms-nearly-7-on-brokerage-upgrade-12900197.html
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Adani Enterprises stock zooms nearly 7% as brokerage gives Rs 3,801 target price
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The surge in the Adani Enterprise stock today was also supported by heavy trading volumes..Related stories.
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Adani Enterprises shares surged nearly 7 percent on December 30 to emerge as the top gainer on the list of Nifty 50 stocks. The sentiment for the stock bolstered after brokerage firm Ventura Securities assigned a price target of Rs 3,801 for the stock within a two-year time frame. The target price translates into an upside potential of nearly 58 percent from Friday's closing. At 1.55 pm, shares ofAdani Enterpriseswere trading nearly 7 percent higher at Rs 2,572.20 apiece on the NSE. The surge in the stock today was also supported by heavy trading volumes. As many as 51 lakh shares already changed hands so far, already much higher than the one month daily traded average of 28 lakh shares. While the company's green H2 project has gone through a one-year delay, Ventura Securities believes that it sees a potential upside of nearly 26 percent in the stock, with a SOTP value of Rs 3,029 even without considering the value of the green H2 vertical. "Recent volatility in the share price has led to a significant increase in the stock beta. As volatility subsides, beta should decrease, consequently alleviating the valuations," Ventura further added. Meanwhile, Adani Enterprises has outlined plans for a capital expenditure of Rs 6.5-7 lakh crore over the next decade to drive its expansion into airports, data centers, copper production, and the green hydrogen ecosystem. “This expansion will primarily be funded through debt, with net debt-to-equity and net debt-to-EBITDA ratios expected to rise from 1.2x and 1.7x in FY24 to 1.8x and 2.2x by FY27E,” Ventura Securities noted. Follow our market blog to catch all the live action To fuel this growth, Adani Enterprises raised Rs 4,200 crore in Q2FY25 through a Qualified Institutional Placement (QIP) with robust participation from both international and domestic investors. Additionally, it secured Rs 800 crore through its first-ever public issuance of non-convertible debentures (NCDs), marking a rare move by a non-NBFC private corporate in the last decade. Ventura also projects the company's consolidated revenue, EBITDA, and net earnings to grow at a CAGR of 17.5 percent, 37.5 percent, and 45.8 percent, respectively, over FY24-27, reaching Rs 1.56 lakh crore, Rs 28,563 crore, and Rs 9,245 crore, respectively. The brokerage also anticipates a 647-basis-point expansion in EBITDA margins to 18.3 percent and a 255-basis-point rise in net margins to 5.9 percent. "Key drivers of this growth include strong performance in the airports and solar/wind turbine businesses, alongside revenue contributions from copper. Consequently, return ratios such as RoE (Return on Equity) and RoIC (Return on Invested Capital) are expected to improve by 563 basis points to 14.5 percent and 99 basis points to 11.3 percent, respectively," Ventura added.
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2024-12-30 14:20
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2024-12-30
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14:20
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/super-fund-manager-2024-the-growth-driven-formula-that-powered-this-mid-cap-fund-manager-s-success-12900134.html
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Super Fund Manager 2024: The growth-driven formula that powered this mid cap fund manager’s success
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Related stories.
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The LIC Mid Cap Fund has delivered returns of around 37 percent over the past year. Dikshit Mittal, Fund Manager & Senior Equity Research Analyst attributes the returns to the fund's focused strategy. “We focus on companies growing above the nominal GDP growth rate, with some indexing to growth as well, while keeping an eye on valuations. Essentially, we build the portfolio around the PEG ratio, which means we’re willing to pay high multiples as long as growth backs it up,” he says. This includes significant investments in sectors like retail, hotels, power, and renewable energy, with strong contributions from companies like Trent and Indian Hotels. The strategy for 2025, according to Mittal, remains growth. “The strategy remains the same: focus on companies growing higher than the nominal GDP growth. The current portfolio PEG ratio is around 1.5–1.6, which keeps sanity in valuations. Otherwise, the focus will be on finding sectors expected to do well, with more case studies and stock-specific opportunities,” he says Edited excerpts: What has worked for your MidCap fund this year? We focus on companies growing above the nominal GDP growth rate, with some indexing to growth as well, while keeping an eye on valuations. Essentially, we build the portfolio around the PEG ratio, which means we are willing to pay high multiples as long as growth backs it up. This has led to focus positions in consumer distribution sectors like retail, hotels, and the power sector. We have also invested in stocks or sectors benefiting from the private capex cycle, the power sector, and manufacturing. We have also targeted beneficiaries of the government’s renewable energy push, particularly companies in the solar space, which have performed well. Being underweight on financial services and IT has also helped us. Midcaps as a segment have done well overall, and sentiment remains optimistic about their progression. Do you think it would be relatively easier to maintain a mid-cap fund this year? At the index level, midcaps have delivered over 25 percent CAGR returns over the last five years, while earnings growth has been around 15 percent. This indicates valuation expansion. Going forward, the market is factoring in over 20 percent CAGR growth for the next two to three years, and as long as these expectations are met, good returns can still be expected. However, we should moderate our return expectations. We cannot sustain the 25 percent CAGR returns seen in the last five years. But, given the growth prospects and diversified nature of the mid-cap index, moderate returns are still likely. What have been the biggest contributors to your portfolio this year? Our portfolio is diversified, with around 65 stocks. Top contributors include companies in retail like Trent and Indian Hotels, which have delivered strong performance. These stocks have grown in weight within our portfolio because of their continued performance, and we have let the winners run as long as growth sustains. Compared to other mid-cap funds, your AUM is relatively small. Why is that? We acquired IDBI Mutual Fund last year, and this fund emerged from that acquisition. While the fund has grown well in the past year, it’s still relatively small compared to the category. We are optimistic about scaling it up based on performance. What is your outlook for mid-caps next year? Valuations are slightly premium to the last five-year averages and large-cap indices. However, the structural flows into mid-caps, driven by a limited pool of 150 stocks, may sustain valuation premiums. With strong earnings growth at 25 percent CAGR, we expect good double-digit returns for investors with a three-to-five-year horizon, even if valuations moderate. How do you differentiate your fund from others? We actively take sectoral calls, such as being underweight on financial services last year, which worked well. We also focus on niche, smaller stock ideas like renewable energy and healthcare, which have contributed positively. We rotate sectoral bets actively. For example, we are optimistic about auto components and slightly increasing IT exposure, while remaining underweight in sectors like financial services and oil & gas. Has volatility been a challenge for mid-caps this year? While mid-caps can be volatile, the market has absorbed significant global events over the past 12–18 months, including geopolitical tensions, rising interest rates, and banking crises. Incremental corrections would likely require new triggers. What risks do you see for the market? Key risks include currency volatility, particularly if U.S. policy leads to a significantly appreciating dollar, which could impact global currencies. Additionally, earnings downgrades in the mid-cap space could trigger corrections. What is your outlook for 2025? Markets should remain stable, with double-digit earnings growth and supportive macroeconomic factors like reasonable interest rates and strong corporate balance sheets. While a time correction or shallow price correction is possible, we expect stability barring unforeseen events. What sectors/companies are you optimistic about in 2025? We are contrarian bullish on companies in the chemical space as well as the auto and ancillary space such as all the companies casting and forging. We believe that these sectors can come back very strong. Going forward, capex as a theme will continue. Asset financiers and asset enablers will also continue to do well. Power capex as a theme has just started, so we have some investments in companies providing equipment or parts for power plants. Those companies will continue to do well. Another sector we believe can come back is building material. The real estate sector has done well, but building material companies haven't seen growth yet. We think it's only a matter of time. How are you approaching strategy going into 2025?The strategy remains the same: focus on companies growing higher than the nominal GDP growth. The current portfolio PEG ratio is around 1.5–1.6, which keeps sanity in valuations. Otherwise, the focus will be on finding sectors expected to do well, with more case studies and stock-specific opportunities.
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2024-12-30 14:12
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2024-12-30
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14:12
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moneycontrol.com
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https://www.moneycontrol.com/news/business/stocks/buy-ipca-laboratories-target-of-rs-1980-motilal-oswal-12900211.html
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Buy IPCA Laboratories; target of Rs 1980: Motilal Oswal
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Buy.Related stories.
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Motilal Oswal's research report onIPCA Laboratories Following a muted performance in the US over the past eight years due to compliance issues, IPCA is well-poised to revive its US business through new product launches, relaunches, stable pricing in its base business, and the integration of the Unichem business over the next 12-24M. Further, its (ex-US) business is in a strong position, with a better outlook driven by enhanced offerings in the export markets such as Australia, New Zealand, and Europe (EU) by adding Unichem’s products to the existing portfolio. With the top 10 therapies experiencing double-digit growth over MAT Nov’20-24, IPCA is focusing on launching new divisions in the fast-growing therapies such as cosmetodermatology and orthopedics. Additionally, the company is working towards creating new divisions and adding 500-700 MRs, as well as improving its MR productivity. Considering a 27% earnings CAGR and an anticipated improvement in the return ratio to ~16% over FY24-27, we value IPCA at 36x 12M forward earnings to arrive at our TP of INR1,980. We reiterate our BUY rating on IPCA as we factor in better operational efficiency, a revival in the US business, synergies from the Unichem acquisition, and a well-established DF business. Outlook We value the stock at 36x 12M forward earnings to arrive at our TP of INR1,980. We reiterate our BUY rating on the stock. For all recommendations report,click here IPCA Laboratories -Dec 30_2024 - moti
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2024-12-30 14:06
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2024-12-30
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14:06
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moneycontrol.com
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https://www.moneycontrol.com/news/business/stocks/buy-kei-industries-target-of-rs-5150-motilal-oswal-12900199.html
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Buy KEI Industries; target of Rs 5150: Motilal Oswal
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Buy.Related stories.
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Motilal Oswal's research report onKEI Industries KEI Industries (KEII) is among the leading players in the Cable and Wire (C&W) industry in India. We believe KEII benefits from multiple growth drivers and business strategies, such as: 1) strong growth potential in the C&W industry over the long term; 2) focus on capacity expansion and gaining market share; 3) growth in the retail business; and 4) higher exports and product innovations. We estimate its revenue/EBITDA/EPS CAGR at ~17%/ 24%/22% over FY25-27. The stock is trading at 49x/40x FY26E/FY27E EPS, which remains attractive. We value KEII at 50x Dec’26E EPS to arrive at our TP of INR5,150, having 19% upside potential. Reiterate BUY. Key risks to our TP are: (a) slowdown in government-led infrastructure projects; (b) higher volatility in raw material prices; (c) global headwinds, which may impact export; and (d) increase in competition due to higher capacity addition in the sector. Outlook The stock is trading at 49x/40x FY26E/FY27E EPS, which remains attractive. We value KEII at 50x Dec’26E EPS to arrive at our TP of INR5,150. Reiterate BUY. For all recommendations report,click here KEI Industries -Dec 30_2024 - moti
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2024-12-30 13:59
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2024-12-30
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13:59
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moneycontrol.com
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https://www.moneycontrol.com/news/india/while-nation-mourns-manmohan-singh-s-demise-rahul-gandhi-flying-out-to-vietnam-bjp-sharpens-attack-on-congress-12900185.html
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'While nation mourns Manmohan Singh's demise, Rahul flying out to Vietnam': BJP sharpens attack on Congress
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Rahul Gandhi attends the funeral procession of former Prime Minister Manmohan Singh in New Delhi.
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As the row over former Prime Minister Dr Manmohan Singh's memorial escalates, the Bharatiya Janata Party om Monday sharpened its attack on the grand old party and its leader Rahul Gandhi for his insensitive behaviour while the nation mourns the demise of former Prime Minister Manmohan Singh. Responding to the charge, Congress leader Manickam Tagore tweeted: "When will the Sanghis stop this ‘Take Diversion’ politics? The way Modi denied Dr. Saheb a place for cremation on the Yamuna banks and how his ministers cornered Dr. Saheb’s family is shameful. If Mr Gandhi travel privately, why does it bother you? Get well in New year." BJP's Amit Malviya accused Rahul of exploiting Manmohan Singh's death for his expedient politics. "While the country is mourning Prime Minister Dr Manmohan Singh’s demise, Rahul Gandhi has flown to Vietnam to ring in the New Year. Rahul Gandhi politicised and exploited Dr Singh’s death for his expedient politics but his contempt for him is unmissable.The Gandhis and the Congress hate the Sikhs. Never forget that Indira Gandhi desecrated the Darbar Sahib." tweeted Malviya. BJP has been accusing the Congress of playing politics with senior leader Sudhanshu Trivedi saying that it was 'saddening' that the Congress, which has 'never respected' Singh, is 'indulging in politics after his death'. Even as BJP leaders like C R Kesavan attacked the Congress accusing it of disrespecting former Prime Minister P V Narasimha Rao, Congress also got support from Samajwadi Party, BSP and AAP. SP chiefAkhilesh Yadavsaid BSP president Mayawati urged he Union government to avoid any political controversy over the funeral and memorial of Singh.
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2024-12-30 13:53
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2024-12-30
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13:53
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moneycontrol.com
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https://www.moneycontrol.com/news/india/amid-tensions-with-india-bangladesh-eyes-400-km-range-abdali-ballistic-missiles-from-pakistan-says-report-12900014.html
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Amid tensions with India, Bangladesh eyes 400-km range Abdali ballistic missiles from Pakistan, says report
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As per the Pakistan's defence ministry, the Hatf 2 or Abdali SRBM weighs 1,750 kg. A single-stage solid propellant engine is used in the Hatf II missile..Related stories.
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In what could be a major security issue for India, Bangladesh has reportedly requested Pakistan to supply the Abdali short-range ballistic missiles. Known as Hatf-II in Pakistan, these missiles have a range of less than 400 km. A report by the Indian Defence Research Wing states that Dhaka wants to use these missiles as a deterrent against India. The short range of these missiles places India’s entire North-East within their reach, the report added. Developed by Pakistan’s Space Research Commission, this tactical missile system is currently being used by the Pakistan Army. The IRDW report pointed out that if this acquisition materializes, it will alter the power dynamics between India and Bangladesh, impacting the overall security situation in South Asia. While the range of the Abdali missiles is limited, their likely deployment by Bangladesh would serve as a deterrent and a response to India’s military stance in the region. As per the Pakistan's defence ministry, the Hatf 2 or Abdali SRBM weighs 1,750 kg. A single-stage solid propellant engine is used in the Hatf II missile. While there has been no official confirmation or denial from both Pakistan and Bangladesh, the IDRW report says that Islamabad is likely to give approval for the acquisition. While both these nations are not part of the Missile Technology Regime, global norms may impact the timeline of this probable missile deal. The Abdali missile comes with a mobile Transporter-Erector-Launcher (TEL) vehicle. Two features of this missile - Transporter-Erector-Launcher and solid propellant makes it easy to transport and launch. Situation has been very volatile in Bangladesh ever since the ouster of Sheikh Hasina as Prime Minister in August. Recently, Dhaka had deployed Bayraktar TB2 drones on border with New Delhi. According to an India Today report, Bayraktar TB2 drones played a crucial role in Azerbaijan-Armenia battle. These are drones had helped Azerbaijan defeat Armenian forces in the 2021 conflict of Nogorno-Karabakh.
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2024-12-30 13:45
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2024-12-30
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13:45
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/throwback-2024-how-fpi-flows-and-ownership-changed-in-the-year-gone-by-12899857.html
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Throwback 2024: How FPI flows and ownership changed in the year gone by
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FPIs sold Indian equities in five out of the 12 months..Related stories.
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Despite foreign investments in Indian equities witnessing a volatile journey throughout 2024, foreign portfolio investors (FPIs) are set to close the year with net buying of Indian equities worth Rs 1,656 crore ($268 million), according to data from NSDL. While the net inflows look paltry considering the fact that FPIs were net buyers at Rs 1.71 lakh crore in CY23, it would still qualify as a remarkable feat given the relentless selling in five out of the 12 months. September saw the highest FPI inflows coming at Rs 57,724 crore, followed by strong inflows in July, June, and March, which helped lift the markets to new record highs before profit-booking took some of the steam out of the bull run. However, October marked a sharp contrast with significant FPI selling, resulting in outflows exceeding Rs 94,000 crore. Outflows were particularly heavy in January, May, April, and November -- FPIs were net sellers at over Rs 21,000 crore in the penultimate month of the year. How FPI ownership changed in 2024? The ownership pattern in the Indian stock market saw significant changes given the volatile FPI flows and strong domestic inflows. Total FPI ownership of Indian equities slipped from 16.58 percent at the end of March to 15.98 percent by October end. However, that was before it witnessed a slight recovery to 16.10 percent as of November end. On the contrary, DII ownership of Indian equities charted a consistent path, going from 15.98 percent at the end of 2023 to 16.20 percent by September end. In addition to that, the constant flow of domestic money into the market also helped safeguard Indian equities from a much lethal blow in the October-December FPI selling spree. In the words of analysts at CLSA, "domestic appetite for Indian equities remains strong, offsetting foreign jitters, and valuation, though pricey, is now a little more palatable." Factors behind moderated inflows While confidence in India's long-term growth prospects kept FPIs hooked on to domestic equities, a slew of negative triggers slowed down the momentum of money from pouring into the markets. Lofty valuations, faltering earnings growth, slowdown in public spending, a populist coalition government and China's revival stimulus were factors that pushed FPIs to the edge. As a result, FPIs dumped Indian shares worth Rs 1.15 lakh crore through October and November, pushing the benchmark Nifty 50 into a correction territory, meaning 10 percent off its record high. The Road Ahead On the global front, waning optimism over China's stimulus-driven recovery, compounded by Donald Trump’s victory in the US presidential race, has shifted the spotlight back to India.Analysts expect Trump’s second term to be particularly challenging for China, given his proposed heavy tariffs on the world’s second-largest economy. In contrast, CLSA highlights India as one of the least exposed regional markets to adverse US trade policies, presenting an attractive alternative for FPIs. CLSA also notes the substantial net foreign investor selling India witnessed in October, which, based on investor feedback, reflects a deliberate strategy of waiting for a favourable buying window to address Indian underexposure. Nomura shares this optimistic outlook, predicting a gradual FPI comeback driven by India's structural growth story. The firm also touted the current underperformance as 'transitory,' stating that India’s cyclical slowdown does not diminish its long-term investment appeal. Nomura also highlights the robust 'China+1' narrative, underweight positions in Indian equities among emerging market (EM) funds, and the benefits of a K-shaped economic recovery as key factors that will aid the market rebound. Furthermore, Nomura believes that India’s equity indices, among the most diversified in Asia, offer a balanced mix of domestic growth and export-oriented sectors. This diversification, according to Nomura, adds resilience against domestic challenges and reduces the risks associated with market concentration, making Indian equities a compelling bet for FPIs.
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2024-12-30 13:44
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2024-12-30
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13:44
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moneycontrol.com
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https://www.moneycontrol.com/news/world/taliban-s-warning-to-ngos-in-afghanistan-expel-women-staff-or-12900129.html
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Taliban's warning to NGOs in Afghanistan: Expel women staff or ...
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File photo.
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The Taliban says it will close all national and foreign nongovernmental groups in Afghanistan employing women. It comes two years after they told NGOs to suspend the employment of Afghan women, allegedly because they didn't wear the Islamic headscarf correctly. In a letter published on X Sunday night, the Economy Ministry warned that failure to comply with the latest order would lead to NGOs losing their license to operate in Afghanistan. The ministry said it was responsible for the registration, coordination, leadership and supervision of all activities carried out by national and foreign organisations. The government was once again ordering the stoppage of all female work in institutions not controlled by the Taliban, according to the letter. “In case of lack of cooperation, all activities of that institution will be cancelled and the activity license of that institution, granted by the ministry, will also be cancelled.” The Taliban have already barred women from many jobs and most public spaces. They have also excluded them from education beyond sixth grade.
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2024-12-30 13:42
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2024-12-30
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13:42
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/vakrangee-rallies-on-partnership-with-shriram-group-for-life-insurance-products-12900004.html
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Vakrangee rallies on partnership with Shriram Group for life insurance products
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Vakrangee Kendras are exclusive branded outlets that offer a range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance and healthcare..
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Distribution platform Vakrangee has signed a corporate tie-up with Shriram Life to expand the portfolio and sell insurance products through its network outlets, sending shares higher by up to 4% in mid-day trade on December 30. Shriram Life Insurance is jointly promoted by South Africa's Sanlam Group and the Shriram Group, offering financial protection solutions for rural, tier 3/4 areas at affordable premium. Shriram Life has over Rs 12,310 crore of assets under management as on September 2024 and over 4.4 lakh individual policies sold in FY24. It is amongst the top 10 insurance players in terms of individual policies sold and amongst the top 5 in rural India. Vakrangee said the partnership expands the portfolio of essential services. "This initiative aligns with our vision of driving financial inclusion and providing last-mile access to high-quality insurance products for every Indian, regardless of their location,” Managing Director Vedant Nandwana said. Vakrangee Kendras are exclusive branded outlets that offer a range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance and healthcare. As many as 83% of Vakrangee Kendra outlets are in Tier-4 to 6 locations, and allow customers access to financial services in most remote locations.Vakrangeesays it plans to add more products and services as well as tie-ups with business partners to offer a one-stop solution to all banking-related needs.
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2024-12-30 13:36
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2024-12-30
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13:36
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moneycontrol.com
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https://www.moneycontrol.com/news/india/antidepressant-sales-in-india-surge-64-in-post-covid-years-report-12900109.html
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Antidepressant sales in India surge 64% in post-Covid years: Report
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In 2020, the market for these medications was valued at ₹1,540 crore across India. By November 2024, that figure rose to ₹2,536 crore..Related stories.
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The Indian mind is in throes of a long covid it seems, as the sale of antidepressant and anti-anxiety pills has boomed over 64 percent since the pandemic phased out, according to a report by theTimes of India. In 2020, the domestic market for these medicines was valued at Rs 1,540 crore and, by November 2024, it surged to Rs 2,536 crore, clocking a compound annual growth rate (CAGR) of 13 percent. The market grew by 64 percent in four years, shows data by Pharmarack, which monitors 17 leading Indian pharmaceutical companies accounting for over half of the industry. A combination of Escitalopram and Clonazepam was topped the list with a 59.35 growth in sales since 2020. Escitalopram is used to treat depression and anxiety disorders, boosts serotonin levels in the brain, while Clonazepam is prescribed to manage anxiety, panic attacks, and seizures by calming the central nervous system. It is found that the sales of Sertraline, used to treat depression, obsessive-compulsive disorder, and post-traumatic stress disorder, grew 48.2 percent in the same period. "Medications like Sertraline, Escitalopram, and Clonazepam are globally recognised for their efficacy and have been around for decades," theTOIreport quoted Dr Vishal Sawant, former head of psychiatry at RN Cooper Hospital, as saying. Dr Harish Shetty, a psychiatrist based in Mumbai, highlighted that these medications rank among the most frequently prescribed antidepressants in India. "The rise in their use isn't surprising," he remarked. "Currently, one in every seven Indians suffers from a mental health issue, compared to one in eight globally. This increase can also be attributed to heightened awareness, as family doctors, alongside psychiatrists, have started to prescribe antidepressants more often." As of August 30, 2024, the Tele-MANAS helpline, a part of the National Tele Mental Health Programme (NTMHP) that offers 24/7 free mental health support, has handled over 11,76,000 calls. The helpline's number is 14416 or 1-800-891-4416. Some government support helplines in Delhi for mental health:Mobile Mental Health Unit (MMHU) HelplineThis helpline is available at 011-22592818 and 9868396910, 9868396911. The MMHU team operates from 9 AM to 5 PM on working days. KIRANThis toll-free helpline is available at 1800-599-0019. It is available 24 hours a day, 7 days a week.
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2024-12-30 13:27
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2024-12-30
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13:27
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moneycontrol.com
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https://www.moneycontrol.com/news/india/watch-odisha-s-tigress-zeenat-caught-after-evading-foresters-for-24-days-12900122.html
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Watch: Odisha's tigress Zeenat caught after evading foresters for 24 days
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The three-year-old tigress was captured by foresters in Bankura,West Bengal..
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Tigress Zeenat, which strayed from Odisha's Similipal Tiger Reserve (STR) to Bankura in West Bengal, was finally captured on Sunday after being sedated with tranquillisers, chief wildlife warden Debal Roy said. She was finally conquered as she took one tranquilliser dart in her stride before yielding to a second. The tigress had kept wildlife officials of both the states on edge for over a week after leaving STR. Roy said the big cat was tranquillised with a single dart shot at 4.09 pm, after earlier attempts to sedate her failed. The animal's vital parameters would be examined before deciding her temporary accommodation, he said. "Zeenat could not be sedated during a previous attempt despite tranquillisers being used on Sunday morning. The operation resumed in the afternoon after veterinarians gave their approval," he said. Since Saturday night, the tigress had been in Gopalpur forest in Bankura district, where she was surrounded by double netting, he added. "At 1.20 am, the tigress was first tranquillised, but despite repeated doses, she could not be sedated," Roy said. The operation was paused at 4:30 am due to the upper limit on tranquilliser doses. After the tigress had rested and calmed down, the operation resumed and she was successfully sedated in the afternoon, Roy added. Zeenat had been relocated from Maharashtra's Tadoba-Andhari Tiger Reserve (TATR) to Similipal last month to introduce a new gene pool to the tiger population. After leaving Similipal, Zeenat walked through forests in Manbazar and Bandwan before crossing into West Bengal, covering over 120 km. Despite efforts, the tigress avoided baits in trap-door cages and instead killed domestic goats that strayed into the forest. Surveillance using drones was also conducted, but the dense forests made monitoring challenging.My heartiest congratulations to the forest officials of West Bengal on the successful rescue of the tigress- Zeenat. My sincere gratitude to the district administration, police, panchayat functionaries and the local people for their invaluable support and collaboration in thispic.twitter.com/KHJQHLhOzKMamata Banerjee (@MamataOfficial)December 29, 2024 Officials said Zeenat had been covering shorter distances in recent days, which suggested that she may be settling in the area. West Bengal Chief Minister Mamata Banerjee congratulated the officials of the state forest department for successfully capturing the big cat and described it as a "remarkable effort". She also thanked the Bankura district administration, police, panchayat members and the local people for their support in their efforts to capture the animal. "My heartiest congratulations to the forest officials of West Bengal on the successful rescue of the tigress- Zeenat. My sincere gratitude to the district administration, police, panchayat functionaries and the local people for their invaluable support and collaboration in this remarkable effort," Banerjee posted on X. "This rescue is a shining example of teamwork and dedication toward wildlife conservation. Your combined efforts have not only saved a majestic creature that strayed out of its habitat but also reinforced the importance of protecting our natural heritage. Thank you for your outstanding work!" she added.
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2024-12-30 13:25
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2024-12-30
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13:25
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moneycontrol.com
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https://www.moneycontrol.com/news/india/jimmy-carter-s-haryana-connection-why-the-village-was-named-cartaputi-after-him-12900058.html
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Jimmy Carter's Haryana connection: Why the village was named 'Carterpuri' after him
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With the death of Carter, Donald Trump is now the oldest living former US President..Related stories.
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Jimmy Carter, 39th President of the United States, who died at 100 in Georgia shared a unique connection with India where a village in Haryana was renamed in his honour to ‘Carterpuri’ after his visit to the country in 1978. Carter became the first US leader to visit India after the Emergency and Janata Party’s win in 1977. He addressed the Indian Parliament on January 2, 1978, and upheld democracy and freedom and rejected authoritarianism. Carter on Indian democracy “India’s successes decisively refute the theory that a developing country must accept authoritarian or totalitarian rule to achieve economic and social progress,” Carter had said. He had lauded Indian electoral democracy and said, “The largest electorate on earth freely and wisely choose its leaders at the polls. Democracy itself was the victor”. The next day, Carter and then-Prime Minister Morarji Desai had signed the Delhi Declaration, bringing the two nations closer and solidifying the ties between India and the US. Speaking at Rashtrapati Bhavan, the then-US President underlined the shared values of democracy and human rights. Indian connection Carter’s connection to India grew stronger during a visit to the village of Daulatpur Nasirabad, near Delhi. Accompanied by his wife, Rosalynn, he received a warm welcome from the villagers, who later renamed their village “Carterpuri” in his honour. The visit by the former US President came just a year after the removal of the Emergency and the victory of the Janata Party. The bond remained strong over the years, with residents celebrating his Nobel Peace Prize win in 2002 and marking January 3 as a local holiday. This visit held more than symbolic value. Carter’s mother, Lillian Carter, had served in India as a Peace Corps volunteer in the 1960s, giving his ties to the country a personal touch. The Carter Center later noted that this visit helped build a lasting partnership between India and the US, founded on mutual respect and shared values. When Carter won the Nobel Peace Prize in 2002, the villagers held massive festivities and celebrated his honour. With the death of Carter, Donald Trump is now the oldest living former US President. Trump served White House Office between 2017 and 2021. He will now return to the office on January 20, 2025. Trump had comfortably defeated Democrat Kamala Harris to win the 2024 presidential election in November. Carter, who served from 1977 to 1981, was the only president alive who was in office during the 1970s after the death of Gerald Ford in 2006; and, at age 98, he was the oldest living former president.
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2024-12-30 13:23
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2024-12-30
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13:23
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moneycontrol.com
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https://www.moneycontrol.com/news/business/economy/australia-india-trade-has-become-more-diversified-since-trade-agreement-in-2022-mc-analysis-12900111.html
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Australia-India trade has become more diversified since trade agreement in 2022: MC Analysis
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India Australi trade diversified even as oil and diamonds brought trade value down post ECTA.Related stories.
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Although the Australia-India Economic Cooperation and Trade Agreement may not have delivered significant trade gains for India, a Moneycontrol analysis shows that it has undoubtedly led to the diversification of India's merchandise exports. The share of top 10 exported goods from India to Australia came down to 63.5 percent in the first 10 months of 2024 compared with 68.6 percent in 2022, prior to the agreement’s signing in December 2022. India traded $6.5 billion of products between January and October 2024, compared with $7.4 billion in the first 10 months of 2022. One of the main reasons for this shift is the decline in petroleum exports from India. While the country exported $4.1 billion worth of petrol in 2022, this declined to $3.1 billion. Diamonds also seem to have taken a shine off the trade, as their value almost halved to $83 million in 2024 from $146 million in 2022 before the signing. Win some, lose some While the losses outweigh gains in overall trade, analysis shows that merchandise exports also show promise. Of the 685 items exported by India to Australia, 314 registered a rise in growth rate post-ECTA. Among the high-value items with $5 million trade and above, nearly half or 59 of 125, registered an increase in growth rate compared with the CAGR witnessed in the decade until the deal's signing (2013-2022). For instance, medicine exports grew 10.7 percent per annum between 2022 and 2024 to $336.5 million, compared with 8.2 percent growth witnessed between 2013 and 2024. Mobile phones and related exports have increased six-fold since 2022, while exports of motor vehicles used in transport have nearly doubled to $45 million. Babies and women’s garment exports have increased at triple the pace at over 20 percent than they did in the decade before the signing of the agreement. Base metals, aluminium, chemical and fertiliser exports have declined during this period.
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2024-12-30 13:16
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2024-12-30
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13:16
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moneycontrol.com
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https://www.moneycontrol.com/news/world/world-war-3-fears-missile-blitzkrieg-high-profile-assassinations-here-s-what-kept-world-on-edge-in-2024-12898929.html
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World War 3 fears, missile blitzkrieg, high-profile assassinations: Here's what kept world on edge in 2024
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Power struggles, strategic realignments, and pivotal political events have reshaped the global geopolitical landscape..Related stories.
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2024 has been nothing short of a whirlwind year—marked by wars, political upheavals, and unexpected turns that have left the world reeling. The war in Ukraine, now in its third year, remains a flashpoint for international instability. At the same time, the Middle East turned into a hotbed of volatility amid fresh tensions between Iran and Israel. Power struggles, strategic realignments, and pivotal political events have reshaped the global geopolitical landscape. 1,000 Days and Counting: Russia-Ukraine War Keeps World on Edge Caesar, a 50-year-old Russian who joined the Freedom of Russia Legion to fight on the side of Ukraine, stands in front of a destroyed monastery in Dolyna, eastern Ukraine, on Dec. 26, 2022. Credit: AFP via Getty Images The war between Russia and Ukraine completed 1,000 days in 2024, with no clear end in sight. Russian President Vladimir Putin resorted to nuclear brinkmanship on multiple occasions this year, indicating that he is not willing to cede ground despite growing fatigue within the Russian military. Throughout the conflict, global political discourse has been heavily shaped, particularly around NATO, European security, and the influence of world powers. The war remained a central topic in global discussions, amassing over 5.25 million media mentions and 150.4 million social media posts. Citing intelligence and undisclosed sources, The Wall Street Journal (WSJ) reported that nearly one million Ukrainians and Russians have been killed or wounded since the war began in 2022. The majority of the casualties are soldiers on both sides, with Ukrainian civilians following closely behind. Government data also revealed that in the first half of 2024, the number of deaths in Ukraine was three times greater than the number of births, as reported by the WSJ. As the standoff persists, it continues to spark critical debates about the future of the region, Europe’s involvement, and the broader global security framework. Despite Ukraine’s counter-offensives and the US authorising long-range strikes against Russia, the war has fueled ongoing instability, disrupting global markets, energy supplies and security structures. Bangladesh’s Controversial Election: Hasina’s Ouster and the Unrest People gather around the residence of Bangladeshi prime minister in Dhaka, Bangladesh, 05 August 2024. Credit: PTI Photo On August 5, Bangladesh Prime Minister Sheikh Hasina shocked the nation by resigning and fleeing to India as student protests demanding her ouster escalated. Hasina, criticised for her autocratic rule and suppression of dissent, had returned to power in a disputed January election. However, student protests over a controversial quota system intensified, leading to violent clashes in July, with several students killed. In the face of mounting pressure, Hasina fled, and Nobel laureate Muhammad Yunus was installed as interim head. However, this transition quickly spiralled into chaos. Along with opposition activists, hardline Islamists and criminals were released, plunging the country into anarchy. Amid rising violence, inflation, and minority persecution, the interim government faces growing pressure, with the murder of a Muslim lawyer and the arrest of a Hindu monk fueling tensions. The rising attacks on minorities, especially Hindus, raised alarm bells in neighbouring India as well with the PM Modi government cautioning Dhaka about the escalating communal violence. Iran Launches Massive Drone and Missile Attack on Israel Israel's Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, on 1 October 2024 (Credit: Reuters) On April 14, Iran launched a barrage of over 300 drones and missiles at Israel, marking its first direct attack on the country. The strikes were in retaliation for the assassination of Islamic Revolutionary Guard Corps (IRGC) commander Mohammad Reza Zahedi at the Iranian embassy in Syria on April 1. This represented a departure from Iran’s traditional use of proxy groups, escalating tensions to unprecedented levels. Later, on October 1, Iran again launched as many as 200 missiles towards Tel Aviv and Israeli military bases in response to the killing of Hezbollah leader Hassan Nasrallah and others. This attack was even larger than the April strikes. This prompted an angry response from Israel later in the month, with Jerusalem striking military targets inside Iran on October 26. The tensions between Iran and Israel sparked widespread global uncertainty and raised fears of a possible world war. US was also concerned about the possibility of PM Benjamin Netanyahu approving missile strikes on Iran's nuclear sites. Though Israel avoided targeting Iran's nuclear facilities, it warned Tehran that it won't hold back if it strikes again. Iran-Israel Conflict Reignites with Retaliatory Strikes The long-standing enmity between Iran and Israel flared anew as Iran launched retaliatory missile strikes on Israeli targets on October 1. This direct attack—only the second in history by Iran against Israel—came after the deaths of key Hezbollah and Hamas leaders in Israeli airstrikes. Iran targeted Israel’s missile manufacturing sites in response to the killing of senior Hezbollah leader Hassan Nasrallah, Brig. Gen. Abbas Nilforoushan, and Hamas political chief Ismail Haniyeh in separate incidents. Nasrallah and Nilforoushan were killed on September 27 when Israeli airstrikes hit a building in Beirut, while Haniyeh lost his life in an explosion at a Tehran compound on July 31. The escalation follows months of tit-for-tat attacks, including an Iranian drone and missile assault on Israel in April. Chaos in Lebanon: Explosions Claim 32 Lives, Injure Thousands A wave of deadly explosions linked to Hezbollah's communication devices has plunged Lebanon into further turmoil. At least 32 people, including two children, were killed, and thousands injured in blasts that rocked the nation on Tuesday and Wednesday. The devastation intensified when walkie-talkies detonated during a funeral gathering, leaving hospitals overwhelmed and deepening societal unease. These tragic events followed a similar attack targeting Hezbollah's pagers just a day earlier. According to unnamed US and Israeli officials cited by Axios, these coordinated explosions were initially planned as the opening salvo of an “all-out” offensive against Hezbollah. However, fears of an intelligence leak prompted the devices to be detonated prematurely, escalating tensions in an already volatile region. High-Profile Assassinations Shake Middle-East A day after Hezbollah commander Fouad Shukur was killed in Beirut, Hamas political leader Ismail Haniyeh was assassinated in Tehran by an Israeli airstrike. The strike followed Hamas’s October 7, 2023, attack on Israel and a Hezbollah attack in the Golan Heights that killed a dozen children. In late September, Israel carried out a massive strike in Beirut, killing Hassan Nasrallah, the secretary-general of Hezbollah. Nasrallah was a pivotal figure, shaping Hezbollah’s identity and strategy for decades. Yahya Sinwar, the mastermind behind the October 7 attacks, was killed by Israel’s 828th Bislamach Brigade in Rafah on October 16. His death is considered a major victory for Israel, with Prime Minister Benjamin Netanyahu emphasising the importance of dismantling Hamas leadership. In all, Israel eliminated most of Hamas top leaders who were involved in the 2023 ground invasion. Syria’s Turning Point: The Fall of Assad’s Regime Citizens in Syria take down statues of Hafez al-Assad, the father of Bashar al-Assad, in Damascus on Monday. (Credit: Murat Sengul/Anadolu via Getty Images) In December 2024, Syria’s brutal civil war reached a surprising turning point. Anti-government rebels, led by Hayat Tahrir al-Sham, stormed Damascus, toppling President Bashar al-Assad’s regime after nearly five decades of Baath Party rule. This momentous event marked the fall of one of the Middle East’s longest-standing autocratic regimes. The collapse of Assad’s government sent shockwaves through the region, raising questions about Syria’s future and the broader geopolitical consequences of a power vacuum. India-Canada Relations Hit New Lows Picture Credit: Canadian Press Via AP Diplomatic ties between India and Canada touched new lows in 2024 after the Justin Trudeau's administration doubled down on allegations that New Delhi was involved in the killings of Khalistani extremists in the country. In October, India expelled Canadian envoys the Trudeau government identified Indian envoys as "persons of interest" in the probe into the killing of Khalistani terrorist Hardeep Singh Nijjar. This move proved to be the tipping point in the already fraught ties between the two countries. In a hard-hitting statement, the ministry of external affairs outlined a series of actions by Trudeau which clearly point to his government's "anti-India separatist agenda". India has also repeatedly denied Canada's claims of New Delhi's involvement in the targeting of Sikh separatists. It has accused Canada of providing “space to violent extremists” and misusing “freedom of speech” to justify threats against Indian leaders.. South Korea’s Political Earthquake: Impeachment and Martial Law December 2024 saw South Korea in the grip of a political crisis as President Yoon Suk Yeol’s attempt to impose martial law led to massive protests and his eventual impeachment on December 14. Yoon’s downfall represented a significant moment for South Korea’s democracy, raising crucial questions about the nation’s political future and its handling of dissent. Rising Tensions: US Airstrikes in Iraq and Syria The conflict between the US and Iranian-backed militias in the Middle East escalated in 2024, as the United States launched airstrikes against targets in Iraq and Syria in response to a deadly drone attack on a US military base. The airstrikes marked a dramatic escalation in the ongoing conflict, highlighting the fragile security situation in the region. The strike raised questions about the role of foreign intervention in the Middle East, as tensions between the US and Iran continued to simmer, and instability threatened the broader region. With no end in sight, the situation remains volatile, and the stakes for both regional and global security are higher than ever. A Glimmer of Hope: The UN Ceasefire Resolution on Gaza In the face of escalating violence between Israel and Palestine, the United Nations Security Council passed a resolution on March 25, 2024, calling for an immediate ceasefire in Gaza and the unconditional release of hostages held by Hamas. This fragile moment of diplomacy provided a brief glimmer of hope for peace in a region long entrenched in conflict. The ceasefire resolution, while welcomed by many, is a reminder that the road to reconciliation is fraught with challenges. As the violence between Israel and Hamas continued to claim lives, the international community’s attention remained fixed on Gaza, where the humanitarian crisis deepened and the need for a lasting peace seemed more urgent than ever. Moscow in Shock: A Deadly Terrorist Attack Law enforcement officers outside the burning Crocus City Hall concert venue following the attack on Friday. Yulia Morozova/Reuters On March 22, 2024, Moscow was rocked by a deadly gun attack on Crocus City Hall. Four gunmen, affiliated with ISIS-K, targeted the venue, killing 145 people and injuring more than 500. Initially, the Russian government blamed Ukraine and the West, but ISIS-K claimed responsibility for the attack, highlighting the rising threat of extremist violence in the region. This terrorist assault forced Russia to confront not only the rise of Islamic extremism but also its own security vulnerabilities. The attack sent ripples of fear throughout Russia, underlining the fragile nature of security in the country, despite its powerful political structure. ICC’s Bold Move Against Israeli and Hamas Leaders In a landmark decision, the International Criminal Court (ICC) issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant on November 21, 2024, accusing them of war crimes related to Israel’s Gaza conflict. This unprecedented move raised serious questions about international accountability and the future of Israel’s relationships with global powers. A Martyr for Freedom: The Death of Alexei Navalny Navalny's team claims he was killed on the night a supposed swap was meant to happen | AFP via Getty Images Amid Russia’s ongoing struggle for democracy, the world mourned the death of Alexei Navalny, a leading opposition figure and anti-corruption activist. Navalny passed away on August 4, 2024, while imprisoned under harsh conditions. His death was a stark reminder of the ongoing repression in Russia and the high cost of standing up against the Kremlin’s authoritarian rule. Navalny’s death has become a powerful symbol of the struggle for freedom and democracy, inspiring a new generation of activists committed to challenging Russia’s political system. The international community condemned his death, but the Kremlin remained silent, further solidifying its image as a repressive regime. A Rare Moment of Diplomacy: The US-Russia Prisoner Swap In August 2024, amidst soaring geopolitical tensions between the U.S. and Russia, a rare moment of diplomacy emerged. The two nations carried out an unprecedented prisoner swap, releasing 26 individuals, including Americans Evan Gershkovich and Paul Whelan, at Ankara Esenboğa Airport in Turkey. This event marked a glimmer of hope in an otherwise fraught relationship, serving as a reminder that even in the most strained times, diplomacy can still find a way. While it did not resolve the broader geopolitical challenges between the two powers, the prisoner swap offered a brief moment of cooperation that transcended political tensions. The UK’s Dangerous Proximity to Russia Amidst the chaos of the year, the United Kingdom faced increasing challenges from Russia. The Kremlin launched cyberattacks against British infrastructure, and the government heightened its defence readiness in response. With rising tension in Europe due to the ongoing conflict in Ukraine, Britain found itself at the forefront of the West’s efforts to contain Russian aggression. As the UK faces growing threats on multiple fronts, the question remains: how will it balance the need for security with the imperative for diplomatic solutions? As we move into 2025, the geopolitical landscape remains unpredictable, with tensions continuing to simmer across key regions. While some conflicts show signs of resolution, others are set to intensify, shaping the future of global politics and security. Battles Beyond the Middle East & Europe Elsewhere, global conflicts have continued to wreak havoc. In Sudan, the civil war has left the country in a severe humanitarian crisis, ongoing for 18 months. In Mexico, violent clashes between rival drug cartels have resulted in over a thousand deaths and disappearances within just a few months. Meanwhile, Myanmar's civil war persists into its fourth year, continuing to destabilise the region.
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2024-12-30 13:00
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2024-12-30
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13:00
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moneycontrol.com
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https://www.moneycontrol.com/budget/union-budget-2025-abolish-stt-to-reduce-tax-burden-on-stock-market-investors-phd-chamber-urges-fm-sitharaman-article-12900100.html
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Union Budget 2025: Abolish STT to reduce tax burden on stock market investors, PHD Chamber urges FM Sitharaman
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Union Budget 2025: Abolish STT to reduce tax burden on stock market investors, PHD Chamber urges FM Sitharaman.Related stories.
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At a pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman and other officials, the representatives of PHD Chamber of Commerce & Industry (PHDCCI) suggested a few key measures, including abolishment of Securities Transaction Tax (STT). On December 30, PHDCCI suggested that with the recent increase in long-term capital gains tax on listed shares from 10% to 12.5%, the long-term capital gains tax on shares is now on par with other assets and thus, STT should be abolished. STT of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year. "This move would reduce the tax burden on investors and encourage more investment in the stock market, thereby stimulating economic growth," said the industry body. Earlier on December 30, Ministry of Finance said on X platform, "Union Minister for Finance and Corporate Affairs Smt. budget@nsitharaman chairs the fifth Pre-Budget Consultation with industry representatives in connection with the forthcomingUnion Budget2025-26, in New Delhi, today." The other suggested measures are: * Reduce tax rates for individuals and Limited Liability Partnership (LLP) firms to 25%* Increase capital expenditure to over Rs 13 lakh crore in 2025-26 from Rs 11.11 lakh crore in the current fiscal* Expand PLI scheme beyond the 14 sectors to medicinal plants, handicrafts, leather and footwear, gems and jewellery, and the space sectors. As per ministry, the senior officials, including the Finance Secretary, the Secretary of the Department of Investment and Public Asset Management (DIPAM), and secretaries from the Department of Economic Affairs and the Department for Promotion of Industry and Internal Trade (DPIIT), were present at the meeting. Chief Economic Adviser to the Government of India also participated. Last week, Sitharaman chaired the fourth Pre-Budget Consultation meeting with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26. Sitharaman has so far held a series of meetings with various stakeholders, including with MSMEs, farmers’ associations, and economists. The 2025-26 Budget will mark Nirmala Sitharaman’s eighth budget.
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2024-12-30 12:56
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2024-12-30
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12:56
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moneycontrol.com
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https://www.moneycontrol.com/news/india/arrest-hardeep-singh-puri-kejriwal-s-big-charge-against-union-minister-over-rohingya-issue-12900089.html
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'Arrest Hardeep Singh Puri ...': Kejriwal's big charge against Union minister over Rohingya issue
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Former Delhi CM Kejriwal (L) and Union minister Hardeep Singh Puri.
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AAP supremo Arvind Kejriwal on Monday lambasted Hardeep Singh Puri amid row over the settlement of Rohingyas in Delhi and requested the authorities to arrest the Union minister. The former Delhi chief minister said that Puri, who was the housing minister in the second term of the Narendra Modi government, revealed all the data on where he settled the Rohingya refugees in the national capital. "I request them to arrest Hardeep Singh Puri. He has all the data on where he settled Rohingyas and how. He tweeted and gave the information. Hardeep Singh Puri and Amit Shah have all the data on how and where they have settled Rohingyas," he said during a media briefing. A row has erupted between AAP and BJP ahead of Delhi elections over the issue. On Sunday, the AAP accused the BJP of settling Rohingya refugees in the city while publicly vilifying them. Puri countered AAP's attack earlier and said that the names of Rohingyas should be cut from the voters' list since the refugees have been settled by the Delhi government to favour Kejriwal's party. "This is the (Arvind) Kejriwal and AAP, who were saying that we (BJP) have brought Rohingyas ... Do you think that they (Rohingyas) will in any circumstance vote for the BJP? They (AAP ) have helped them settle here for the votes. It would be better for a democracy if their names are cut from the voter list," he said. He further said that the electoral results of Delhi will be same as that of Haryana and Maharashtra, where BJP emerged victorious. Senior AAP leaders, including chief minister Atishi, Rajya Sabha MP Sanjay Singh and former deputy chief minister Manish Sisodia, had pointed to a 2022 post on X by Union minister Hardeep Singh Puri as evidence of the Bharatiya Janata Party's (BJP) involvement in housing Rohingya Muslims in EWS (Economically Weaker Section) flats in Delhi's Bakkarwala area. The BJP hit back at AAP over the charges, with Delhi party president Virendra Sachdeva saying that ever since his party launched a campaign to disenfranchise illegally-residing Rohingya Muslims and Bangladeshis and expel them from the country, Kejriwal and other AAP leaders have been resorting to a baseless rhetoric to divert the attention of people. (With inputs from agencies)
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2024-12-30 12:50
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2024-12-30
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12:50
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moneycontrol.com
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https://www.moneycontrol.com/technology/iphone-15-can-be-effectively-bought-under-rs-30-000-on-flipkart-here-s-how-the-deal-works-article-12899939.html
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iPhone 15 can be effectively bought under Rs 30,000 on Flipkart: Here’s how the deal works
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iPhone 15.Related stories.
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If you’ve been planning to upgrade your smartphone, Flipkart’s latest offer on the iPhone 15 is a deal you can’t afford to miss. The iPhone 15 128GB variant is currently listed at Rs 58,999, significantly down from its original price of Rs 69,900. This flat discount of over Rs 10,000 already makes it an enticing deal, but for existing iPhone users, the savings don’t stop there. Offers on iPhone 15 on Flipkart Flipkart is offering a trade-in program that allows you to exchange your old iPhone 13 for up to Rs 30,000. This amount includes an exchange bonus of Rs 6,000, which significantly reduces the cost. With this offer, the effective price of the iPhone 15 drops to an incredible Rs 28,999, making it the lowest price ever for this premium device. Should you buy iPhone 15? At this price point, the iPhone 15 is a steal, even though it’s not Apple’s latest release. Powered by the robust Apple A16 Bionic chipset and running on iOS 17, it delivers lightning-fast performance and a seamless user experience. The device features a 6.1-inch Super Retina XDR display with stunning color accuracy and sharpness, perfect for gaming, streaming, or daily use. Photography enthusiasts will appreciate the dual-camera system, which includes a 48MP primary sensor and a 12MP ultra-wide lens, enabling professional-quality photos and videos. The 12MP front camera, enhanced by Apple’s image processing, ensures exceptional selfies. Additionally, the iPhone 15 offers a USB Type-C port, fast charging, and a 3349mAh battery for convenience and long-lasting usage. For those who want a premium Apple experience without breaking the bank, this Flipkart deal makes the iPhone 15 an irresistible choice. Don't miss the chance to grab this flagship phone at an unbeatable price!
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2024-12-30 12:46
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2024-12-30
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12:46
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moneycontrol.com
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https://www.moneycontrol.com/news/india/bjp-asks-shashi-tharoor-to-clarify-george-soros-links-why-did-he-approach-hardeep-puri-in-private-12900086.html
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BJP asks Shashi Tharoor to clarify George Soros links: 'Why did he approach Hardeep Puri in private?'
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The BJP has raised the remarks by Union minister Hardeep Singh Puri and demanded an answer from Congress MP Shashi Tharoor..Related stories.
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The Bharatiya Janata Party on Monday dredged up the issue of the alleged ties between Congress leader Shashi Tharoor and billionaire investor George Soros once again, asking the Lok Sabha MP from Thiruvananthapuram to "clarify on his dealings with George Soros". Tagging a snippet from a video interview featuring Union minister Hardeep Singh Puri, BJP spokesperson Amit Malviya asked Tharoor to answer why he approached Puri, then a minister, personally after making an accusation on social media.Shashi Tharoor must clarify on his dealings with George Soros. More importantly why did he approach minister Hardeep Puri in private, with a request to drop the issue, after making a public accusation?https://t.co/jT1r2B7EQ6pic.twitter.com/JPVidY9zHdAmit Malviya (@amitmalviya)December 30, 2024 In the interview, Puri says he received a personal message from Tharoor requesting him to "drop the issue" and then states he could release the "personal image" if he feels the need to do so. The issue pertains to a December 20 tweet by Puri, then India's Ambassador to the US, claiming that Tharoor, as Union Minister of State for External Affairs, "insisted" on the inclusion of Soros in the list of invitees at a 2009 dinner in US. "Apart from members of the diplomatic fraternity I noticed the name of Mr Soros in the list and I clearly remember bringing it up with the then Minister, who had also met him in May 2009 and even tweeted about it. That is the only time in my life when I met Mr Soros," Puri said in his tweet on December 20. Language has frequently been accorded pride of place amongst major arts of deception. Some of my friends in the Congress Party excel in obfuscation; but they tweet at their own peril.I want to take up two issues raised by them.First - my friend Dr@ShashiTharoorJi, who was apic.twitter.com/sIWc2omjg8Hardeep Singh Puri (@HardeepSPuri)December 20, 2024 Puri further said that it became clear in retrospect that Soros was an invitee because he was among the benefactors of the Rajiv Gandhi Foundation and that this was the reason why Tharoor wanted to meet him. The controversy began after an X user who identified himself as a BJP worker from Karnataka showed Tharoor an old post from 2009 in which he said: "Met old friend George Soros, upbeat about India and curious about our neighbourhood. He's far more than an investor: a concerned world citizen." Responding to the tweet, Tharoor said he knew "Soros well" in his UN days "as an upstanding international-minded resident of New York". "He was a friend in the social sense: i have never received or solicited a penny from him or any of his foundations for myself or any institution or cause I supported. I only met Mr Soros once more after this tweet, and that was at the home of then-Ambassador and now-BJP Minister Hardeep Singh Puri when i was visiting NY as MoS MEA. Amb Puri had invited a number of prominent Americans for a dinner discussion with me (and that was entirely appropriate). I have not been in touch with Mr Soros since, nor be with me, and my old relationship never had any political connotations," he wrote. It was in this context that Hardeep Puri put out a statement on X claiming that it was Tharoor who insisted that Soros be included in the guest list at the 2009 dinner. In the video tweeted by the BJP spokesperson, Puri further claimed that Tharoor approached him personally asking him to put the matter to rest.
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2024-12-30 12:39
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2024-12-30
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12:39
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/mid-day-mood-sensex-recovers-from-day-s-low-nifty-climbs-above-23-900-banking-stocks-drive-rebound-12900084.html
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Mid-day mood: Sensex recovers from day’s low, Nifty climbs above 23,900; banking stocks drive rebound
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Despite the rebound in Sensex and Nifty, analysts highlighted ongoing concerns that could keep markets range-bound..Related stories.
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The Indian share market bounced back from a subdued start on Monday, 30 December, with benchmark indices recovering in noon trade and BSE Sensex climbing as much as 700 points from the day’s low. In the noon trade, theBSE Sensexwas up 356 points or 0.5 percent at 79,055, while theNSE Niftyrose 85 points to just above 23,900. The recovery was primarily driven by strong gains in banking stocks, with the Nifty Bank index rising over 1.1 percent. However, auto and IT sector indices remained laggards, slipping 0.37 percent and 0.18 percent, respectively. Other sectoral indices were largely muted, trading near flat, with marginal gains in FMCG, energy, and infrastructure stocks. Persistent concerns Despite the rebound, analysts highlighted ongoing concerns that could keep markets range-bound. "Sustained foreign institutional investor outflows, diminishing expectations of U.S. rate cuts in 2025, and the lack of significant domestic triggers amid the year-end continue to weigh on sentiment," said Mandar Bhojane, research analyst at Choice Broking. Follow our live blog for regular market updates Bhojane added that investors are likely to remain cautious ahead of key data releases, such as monthly auto sales and December quarter earnings, which could provide direction to the markets. Among individual stocks, Adani Enterprises emerged as the top gainer on the Nifty, rising 5.67 percent to Rs 2,546.65. Other notable gainers included Shriram Finance, up 1.88 percent, and IndusInd Bank, which advanced 1.68 percent. Axis Bank, Cipla, and ICICI Bank also added over 1 percent each. On the flip side, Wipro led the laggards, slipping 1.49 percent to Rs 304.50, followed by Hero Motocorp, Dr Reddy’s Labs, and Trent, which declined between 0.9 percent and 1.15 percent. Global cues and rupee concerns Indian markets are also navigating global headwinds, with key Asian indices trading lower on Monday after U.S. equities fell sharply on Friday. The S&P 500 and Nasdaq 100 both dropped over 1 percent as investors trimmed positions amid uncertainties over the international trade landscape for 2025. Also read |Jefferies' Greed & Fear note by Chris Wood tweaks long-only portfolio, brings back HDFC Bank, adds Siemens India Adding to the pressure is the continued weakness of the rupee, which recently breached the 85-per-dollar mark and is nearing the 86 level. The depreciation is making Indian equities less attractive to foreign investors, who face reduced returns in dollar terms. The Nifty Dollar Total Return Index has gained only 8 percent in 2024, trailing the 10 percent gains in rupee terms for the Nifty index. Technical outlook From a technical perspective, analysts note that consolidation could persist unless there is a decisive breakout from the current trading range. "The downside support remains around 23,600–23,500, aligning with last Friday’s low. A breach below this range could reignite the downtrend," said Sameet Chawan, Head of Technical and Derivative Research at Angel One. Resistance levels, meanwhile, are seen at 23,900 and the psychological mark of 24,000.
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2024-12-30 12:34
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2024-12-30
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12:34
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moneycontrol.com
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https://www.moneycontrol.com/news/india/kejriwal-announces-pujari-granthi-samman-yojana-ahead-of-delhi-polls-promises-rs-18-000-per-month-to-temple-priests-granthis-12899991.html
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Arvind Kejriwal announces Pujari Granthi Samman Yojana ahead of Delhi polls; promises Rs 18,000 per month to temple priests, granthis
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Former Delhi CM Arvind Kejriwal.
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Former Delhi chief minister and AAP supremo Arvind Kejriwal on Monday said that his party will launch the "Pujari Granthi Samman Yojana" if voted to power in the coming Delhi elections under which monthly honorarium of Rs 18,000 will be given to temple priests and granthis of Gurdwaras. In a media briefing, Kejriwal praised the venerated priests and granthis who play a significant role in people's lives in both good times and bad. "The name of the scheme is Pujari Granthi Samman Yojana. Under this, there is a provision to give an honorarium to the priests of temples and the 'granthis' of the Gurudwara. They will be given an honorarium of about Rs 18,000 per month. This is happening for the first time in the country," he said. The former chief minister added that the priests in our society have carried forward ancient rituals from generation to generation. "They never paid attention to their family and we never paid attention to them," he said, as he announced the scheme. With just weeks left for the assembly polls in Delhi, which are due by February 2025, Kejriwal has already announced multiple welfare schemes to woo voters. Earlier, Kejriwal announced the Mahila Samman Yojana, which aims to provide Rs 2,100 per month to women in Delhi. He also launched the Sanjeevani Yojana, which is a scheme to provide free treatment to residents aged over 60 at private and government hospitals in Delhi.
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2024-12-30 12:32
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2024-12-30
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12:32
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moneycontrol.com
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https://www.moneycontrol.com/news/india/bjp-has-done-more-for-congress-leaders-sharmishtha-mukherjee-12900075.html
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'BJP has done more for Congress leaders': Sharmishtha Mukherjee
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Sharmishtha Mukherjee.
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As Congress continues to up the ante on the Bharatiya Janata Party over former Prime Minister Dr Manmohan Singh's funeral site, Sharmishtha Mukherjee, daughter of former President Pranab Mukherjee, unequivocally stated that while the grand old party pushes its own leaders away, the BJP has a more 'inclusive' approach. Speaking to CNN-News18, she also blamed the Congress for misappropriation of its own leaders. “The BJP is more inclusive. They respected our leaders more than the Congress did. Look at how they gave awards to Tarun Gogoi, Ghulam Nabi Azad; they were all Congressmen. The Congress pushes its own away," Sharmishtha told CNN-News18 in an exclusive interview. She also raised questions as to why no Congress Working Committee (CWC) meeting was convened after her father's death and a resolution passed. Mukherjee lamented that several old Congress workers feel alienated from the party today due to the current state of affairs and the lack of an ideology among the top leaders. Earlier, in a post on X, Mukherjee said: "When baba passed away, Congress didn't even bother to call CWC for a condolence meeting. A senior leader told me it's not done for Presidents. That's utter rubbish as I learned later from baba's diaries that on K R Narayanan's death, CWC was called and condolence msg was drafted by baba only." Speaking on the row over the setting up of a memorial for former prime minister Manmohan Singh, Mukherjee said she would not venture into the controversy as she is not part of the Congress anymore and has quit politics. She, however, pitched for a memorial for Singh and said Bharat Ratna, the highest civilian award of the country, should also be conferred on the former prime minister posthumously. "I think the demand to have a memorial for Manmohan Singh is absolutely justified. He was the architect of economic reforms in India, he was the father of India's growth story, he was a two-time prime minister. So the demand for a memorial in his honour is absolutely justified. Also, on behalf of the ordinary citizens of India, I demand Bharat Ratna for him, he thoroughly deserves it," Mukherjee said.
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2024-12-30 12:25
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2024-12-30
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12:25
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moneycontrol.com
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https://www.moneycontrol.com/technology/xiaomi-redmi-note-14-pro-review-it-s-all-about-performance-and-features-article-12900040.html
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Xiaomi Redmi Note 14 Pro+ review: It’s all about performance and features
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Redmi Note 14 Pro Plus Review.
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Xiaomi Redmi Note series phones have always had takers no matter which version of the phone is on sale. The Note lineup from the company has always managed to attract buyers by offering the best possible value for money proposition be it in terms of features, performance, camera or simply overall as a smartphone. However, before 2024 ends, Xiaomi decided to drop the latest iteration of Redmi Note 14 phones which, by the way, includes three models – Note 14, Note 14 Pro and the one we have here with us – the Note 14 Pro+. The phone is priced at Rs 30,999 upfront without any exchange or additional discount offers which brings it directly to the mid-range segment. Redmi Note 14 Pro Plus Review Is it a real deal and has Xiaomi managed to repeat the core formula of offering more for the buck? Or, does the phone feel lacking at this price point? I have been using the Xiaomi Redmi Note 14 Pro+ for a while now as my go-to smartphone and here are my final thoughts on it. Xiaomi Redmi Note 14 Pro+ design and displayWhen it comes to design, there are a lot of changes and in the right direction. Starting with the upfront look and feel, it is certainly premium. The most premium Redmi Note phone we’ve seen ever with all the curved front display and back paired with Gorilla Glass Victus 2 protection. It is also surprising to see Victus 2 at this price point. Not only that, this is the one phone in this segment to offer this. Moving on, the phone also has an IP68 water and dust resistance rating for added durability. I am happy to see that Xiaomi has already put enough into the design and durability of the phone to make it last for at least a couple of years. There’s software support too for those couple of years, I’ll get to that later. Redmi Note 14 Pro Plus Review Before that, the phone’s back is smooth finished glass with a sort of curved square housing that mimics the “Mi” logo. Looks cool, stylish and fresh too. Slim glossy side rails make the phone look slimmer and the hand-feel is also good enough. The best part is despite that curved front and back, the phone does not feel slippery. The weight distribution is on point and does not feel top-heavy. Buttons are placed on the right. The power button is centred to make it easy to access and the volume rocker is placed just above that. Both offer good and satisfying clicks. The bottom of the phone has the primary speaker, microphone, Type-C port, and SIM tray. The top has the secondary speaker, microphone and IR Blaster. Redmi Note 14 Pro Plus Review The display of the phone is curved and has a 1.5K resolution with a 120Hz refresh rate, 2650Hz Instantaneous TSR, and 240Hz touch sampling rate. And, it measures 6.67-inch which is good enough for most needs. Being an AMOLED panel, the display is crisp and pleasant to use, The colours are vibrant and I have no complaints about the viewing angles or the overall brightness. I used the phone in almost every condition – under bright sunlight, indoors, at night and neither once did I feel uncomfortable in dim lighting conditions or under harsh bright light. It is a good display for day-to-day usage and consuming content. Xiaomi Redmi Note 14 Pro+ performanceAs my daily driver, I used the phone for almost everything from calling, checking mail, office work, listening to music, watching movies, and social media scrolling and playing some games. Snapdragon 7s Gen 3 is a good and powerful chipset and there’s no doubt that the chip paired with 12GB of RAM can handle everything. The chip remains calm and composed even under heavy loads like playing games or editing 4K videos. Apart from that, with the phone’s 5000mm2 vapour chamber, the phone runs cool without any issues. Although, under heavy load and frequent multitasking, it tends to get a little warm, let’s just say that it’s bearable does not bother much and affects user experience. The phone delivers a seamless experience with minimal stuttering or lag during regular use. App launches and multitasking are smooth and comparable to other devices in its class. While there were rare slowdowns under extreme usage, these were manageable, considering the device’s price range. In everyday scenarios, the phone proved reliable as a daily driver, handling all apps available on the Play Store efficiently, including demanding applications like Photoshop and Premiere Pro. Rendering and editing tasks were completed swiftly, with the phone maintaining usability even while these resource-intensive apps ran in the background. Redmi Note 14 Pro Plus Review For gaming enthusiasts, the Snapdragon 7s Gen 3 processor performs commendably, handling popular titles such as Genshin Impact, Shadow Fight 4: Arena, Call of Duty Mobile, BGMI, Asphalt 9, and more. Most games ran smoothly at high graphics settings, although Genshin Impact pushed the chipset at maximum settings. Switching to medium settings resolved any performance issues. The device’s thermal management is noteworthy, keeping temperatures in check even during extended gaming sessions, thanks to Realme’s efficient cooling mechanisms. Redmi Note 14 Pro Plus Review Talking about the speakers, the phone has a dual speaker setup which delivers loud and clear output. However, the bass output could have been slightly better. Overall, the speakers are on point and there’s nothing much to complain about. Xiaomi Redmi Note 14 Pro+ cameraFor the past several years, Xiaomi has been offering 200MP sensors in their Redmi Note Pro+ phones. However, things have changed this year and the Redmi Note 14 Pro+ 5G comes with a 50MP Light Fusion 800 sensor with 1/1.55-inch sensor size and large f/1.6 aperture. Then there’s another 50MP telephoto sensor with 2.5x optical zoom and an 8MP ultrawide sensor. The front of the phone has a 20MP selfie shooter. Redmi Note 14 Pro Plus camera Now, the move from 200MP to 50MP might look like a downgrade here, but it is an upgrade and a big upgrade over its predecessors. The 50MP Light Fusion 800 sensor is a flagship-grade offering and it delivers some impressive results. In my testing, the 50MP sensor does a good job in daylight conditions with full sharpness, details and dynamic range. Colours are also impressive and vivid. The phone does tend to make photos a little more vibrant than it is, but the result is good and pleasant. Redmi Note 14 Pro Plus Review In low light conditions, thanks to the sensor size and wider aperture, the sensor manages to capture more light even in dimly lit conditions. The details in low-light situations remain intact and the photos do not appear soft. However, with night mode, I think the sharpness is a little aggressive here. That’s not a deal breaker because everything else is on point, the colours, details and even the photos look like it has been captured during nighttime. Redmi Note 14 Pro Plus Review Coming to the telephoto sensor, the 50MP unit is good enough. Although there’s a little bit of difference in the colour temp and white balance between the primary and telephoto sensor, it is serviceable. The quality is adequate with good details, colours and vibrance. The sharpness levels are good too. The ultrawide sensor has a little bit of distortion though and the colour and details could have been better too. The selfie shooter is good though and it captures good portrait and regular photos in both daylight and low light conditions. Xiaomi’s HyperOS also comes with a streamlined camera app with a simple and clean interface. The options, toggles, etc are easy to access and use. Important menus and settings are right on the front for fast access. Moreover, the camera app boots up fast and is ready to shoot in a few settings. Overall, the Redmi Note 14 Pro+ 5G has a versatile camera setup with some really good capabilities for photos and videos. Xiaomi Redmi Note 14 Pro+ 5G battery The battery on Xiaomi Redmi Note 14 Pro+ 5G is another story altogether. The phone packs some serious battery tech. For instance, it comes with a solid electrolyte battery technology. It has a Voltage booster chip, low-temperature charging and an instant power-on feature. Safe charging control and the list is long. Let’s get to the point, the battery capacity is 6200mAh and that’s massive for a smartphone in this segment. The battery life is also impressive here with almost two days of worry-free usage under normal usage conditions. Push it hard with things like a camera, gaming, etc, you’ll still get almost one-and-a-half days of battery life. Redmi Note 14 Pro Plus Review The phone supports 90W HyperCharge technology and charges in under an hour from 0 to 100% which is impressive. Xiaomi Redmi Note 14 Pro+: What we think The Redmi Note 14 Pro+ 5G, with a starting price of Rs 30,999, delivers impressive performance and boasts a standout 50MP primary camera that produces high-quality images, rivaling its competitors. The phone's attractive design, premium build, and durability further enhance its appeal. The much-improved HyperOS and solid battery life are additional advantages. Overall, the Redmi Note 14 Pro+ 5G exceeds expectations for a mid-range smartphone, making it a compelling choice for prospective buyers in this category.
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2024-12-30 12:24
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2024-12-30
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12:24
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moneycontrol.com
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https://www.moneycontrol.com/news/india/4th-century-ce-sanskrit-inscription-unearthed-in-pok-s-gilgit-12900038.html
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4th-century CE Sanskrit inscription unearthed in PoK's Gilgit
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Shiv Pratap Singh from Rajasthan shared a photo of the inscription with ASI which decoded it..
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The Archaeological Survey of India has unearthed a Sanskrit inscription discovered on a rock outside Gilgit in Pakistan-Occupied Kashmir, according to Times of India. Written in Brahmi script, it reportedly belongs to approximately 4th-century CE. ASI epigraphy director K Muniratnam Reddy, the inscription told TOI that the script reads: "Pushpasingha, for the merit of his guru (name partially lost), installed a Mahesvaralinga." Shiv Pratap Singh from Rajasthan shared a photo of the inscription with ASI which decoded it. According to experts, there were earlier instances wherein Sanskrit inscriptions were found in Pakistan. Five months ago, ASI had decoded a Sanskrit inscription sent from the neighbouring country. The fragmentary inscription, engraved on a slab, was found near Peshawar. According to Reddy, it was written in Sanskrit and Sharada characters of 10th-century CE. Damaged and fragmentary, it seems to refer to Buddhist Dharini (chants). “In line six, it mentions Da (Dha) rini,” Reddy told TOI. Meanwhile, the administration in Uttar Pradesh commenced the renovation and excavation of the ancient "Mrityu Kup" (well of death) at Kot Purvi, located within the Sambhal Kotwali police station area. The initiative is part of a broader effort to identify and restore wells that are believed to hold religious and spiritual significance. This month, a four-member team of the ASI also conducted a survey of the recently-discovered Shri Kartik Mahadev temple, five 'teerths' (pilgrimage sites) and 19 'koops' (wells), according to PTI. Speaking to reporters, Sambhal District Magistrate Rajender Pensiya said, "A four-member team of the ASI started the survey this morning. This survey continued till 3.30 pm. In this, the ASI team surveyed five pilgrimage sites and 19 wells of Sambhal and also surveyed the new temple (Shri Kartik Mahadev temple) that was found."
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2024-12-30 12:21
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2024-12-30
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12:21
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moneycontrol.com
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https://www.moneycontrol.com/news/india/mumbai-weather-aqi-drops-to-poor-seven-days-in-a-row-12900030.html
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Mumbai weather: AQI drops to 'poor' category seven days in a row
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A view of the city skyline engulfed in smog, at Girgaon area in Mumbai on Sunday.(Image: PTI).Related stories.
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Mumbai, often referred to as India’s financial capital, is experiencing a concerning surge in air pollution levels, with Air Quality Levels (AQI) falling into the 'poor category' for the seventh consecutive day on Sunday. According to the Central Pollution Control Board (CPCB), Mumbai’s overall AQI was 201 on Sunday morning. The area of Navy Nagar in Colaba experienced the worst air quality, with an AQI of 317. Byculla had an AQI of 303, Worli 295 and Bandra 257. Of the 25 AQI monitoring stations, 10 reported AQI levels classified as “poor” and “very poor”. According to the CPCB, AQI readings in the range 0-50 are regarded as good, 51-100 are regarded as satisfactory, 101-200 as moderate, 201-300 as poor, 301-400 as very poor, and above 400 are considered to be severe. The most significant factor contributing to the current situation in the country's financial capital is the timing of the smog that envelops it. According to a report from the Times of India, a former member of the Maharashtra Pollution Control Board noted that the smog usually clears by 9:30 AM. However, in recent days, it has lingered longer, often remaining until 11 AM or later. What’s causing the rise?Experts have pointed to a combination of factors contributing to the deteriorating air quality. Weather Changes: A shift in wind patterns and lower temperatures have trapped pollutants closer to the ground, preventing dispersion. Construction Activity: The ongoing infrastructure projects in the city, including the ongoing Metro projects, have increased dust and particulate matter in the air. The current number of infrastructure projects is at around 11,000 projects. That number is even higher if one includes infrastructure developments. The R Central ward has the highest number of construction sites at 942, while the K East ward follows closely with 933, and the K West ward has 815. Central suburbs: 45 skyscrapers are being built, then in Western suburbs, about 30 towers are set to be finished in the upcoming six years. In Thane, about 59 towers are currently being constructed and in Navi Mumbai about 15 buildings are at different stages of development, according to a Hindustan Times report. Vehicular Emissions: With a significant rise in traffic post-pandemic, Mumbai has a large number of private vehicles, numbering around 1.2 million, according to the Times of India. Other factors: Changes in wind patterns, cooling ocean surfaces, dust particles, and contamination from oil are significant contributors to the unprecedented pollution levels in Mumbai. Health ImpactsThe rising pollution levels pose a serious health risk to residents. Prolonged exposure to high AQI levels can lead to respiratory issues, cardiovascular problems, and other chronic conditions. Vulnerable groups, including children and the elderly, are particularly at risk. Mitigation EffortsAuthorities have announced several measures to tackle the situation, including intensifying dust control measures at construction sites, promoting public transport to reduce vehicular emissions, and increasing green cover in urban areas to act as natural air purifiers. Citizens are also being urged to do their part by carpooling, reducing the use of personal vehicles, and avoiding activities that contribute to air pollution.
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2024-12-30 12:12
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2024-12-30
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12:12
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moneycontrol.com
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https://www.moneycontrol.com/technology/explainer-why-sriram-krishnan-s-white-house-entry-shifted-focus-to-immigrant-work-visas-article-12899996.html
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Explainer: Why Sriram Krishnan’s White House entry shifted focus to immigrant work visas
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Representative image.Related stories.
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US President-elect Donald Trump's appointment of Indian-American venture capitalist Sriram Krishnan as Senior Policy Advisor on Artificial Intelligence (AI) las week has brought back the debate over US immigration policies. After tech leaders and co-leads of the newly-established Department of Government Efficiency (DOGE) Elon Musk and Vivek Ramaswamy defended the existing visa system, Trump also expressed support for skilled foreign worker visas in a recent interview. A war of words has broken on the issue with several MAGA (Make America Great Again) supporters posting strongly worded posts on Musk-owned X platform (formerly Twitter) and calling out why Americans should be preferred over other foreign nationals. What happened? It all began when a prominent supporter of the MAGA political movement, Laura Loomer, opposed Trump's decision to appoint Krishnan to the White House on December 28 on X. She said Krishnan's past support for easing green card caps and simplifying the process for skilled foreign workers’ entry into the US contradicts Trump’s agenda. The post on the microblogging site triggered a chain of reactions, in which the DOGE colleagues defended the move by Trump to appoint Krishnan. While Trump, Musk, and Ramaswamy say H-1B visas are required for bringing in highly skilled and hard-to-fill positions, data paints a different picture. This is because over 75 percent of the visas issued in the last five financial years under H-1B jobs pay less than $150,000, according to data from the US Department of Labor and crunched by Robert Sterling of EV Partners. H-1B is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations such as science, technology, engineering, mathematics (STEM), and IT. Indian tech companies such as Tata Consultancy Services (TCS), Infosys, HCL Technologies, and Wipro send their employees to the US on this visa. Trump’s U-Turn Trump’s recent comments sit at odds with his stance earlier. “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them,” Trump told the New York Post in an interview. Meanwhile, he had previously termed H1-B “very bad” and “unfair” for US workers. Compare that with his comments on Saturday where he termed the H-1B visa as a “great program” again, adding that he is a “believer in H-1B” which has been used by his company. Moreover, back in 2022, Trump’s company said an H-1B visa application was withdrawn. “Major corporations profit off the abuse of the H-1B visa programme, and President Trump, like other US presidents, has demonstrated a lack of will to stand up to corporate benefactors,” Daniel Kotchen, partner at US-based Kotchen & Low LLP, had toldMoneycontrolearlier. Many in the tech world complain that there are plenty of shortcomings in the present H1-B visa rules including a lottery-based system. Elon Musk’s stance On December 29, Sterling went on to say that “America needs to be a destination for the world’s most elite talent. But the H-1B program isn’t the way to do that”. Responding to Sterling, Musk suggested, “Easily fixed by raising the minimum salary significantly and adding a yearly cost for maintaining the H1B, making it materially more expensive to hire from overseas than domestically.” “I’ve been very clear that the program is broken and needs major reform,” Musk said. To another user, Musk, who himself came on an H-1B visa from South Africa, said that the reason he and many critical people who have built SpaceX, Tesla and other major tech companies was because of H-1B visas. These companies went on to make America strong. Musk then said he is ready to “go to war” on this issue. Ramaswamy defended the visa Ramaswamy has time and again defended bringing in skilled professionals, including through the H-1B visa route. The US entrepreneur has even batted for an overhaul of the existing system to remove the inefficiencies. Ramaswamy, who initially sought the Republican presidential nomination but withdrew to support former President Trump, said that direct Silicon Valley lobbying meant an employee would be “a slave” to the hiring company and couldn't switch to a different company. “When it's lasted that long, you need to shut it down, start with a blank slate, and rebuild from scratch.” On December 26, Ramaswamy took to X replying to MAGA supporters that the reason top tech companies hire foreign-born & first-generation engineers over native Americans isn’t because of an innate American IQ deficit but culture. “Our American culture has venerated mediocrity over excellence for way too long (at least since the 90s and likely longer). That doesn’t start in college, it starts YOUNG,” he posted on the microblogging site owned by his DOGE colleague Musk. He said the present culture celebrates the prom queen over the math olympiad. Ramaswamy believes Trump’s ascendency will hopefully mark the beginning of a new golden era in America, but only if the culture fully wakes up. “A culture that once again prioritizes achievement over normalcy; excellence over mediocrity; nerdiness over conformity; hard work over laziness. That’s the work we have cut out for us, rather than wallowing in victimhood & just wishing (or legislating) alternative hiring practices into existence.” he wrote in a long X post.
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2024-12-30 11:49
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2024-12-30
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11:49
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moneycontrol.com
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https://www.moneycontrol.com/news/india/15th-dalai-lama-will-tenzin-gyatso-name-his-successor-on-his-90th-birthday-12900020.html
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15th Dalai Lama: Will Tenzin Gyatso name successor on his 90th birthday?
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Dalai Lama.
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The 14th Dalai Lama, Tenzin Gyatso's, recent reassurance regarding his health has addded to the growing speculation regarding his continuity as the spiritual leader and the head of the Tibetan Buddhists or his decision to name a successor. The public talk around the appointment of the 15th Dalai Lama has grown evert since Tenzin Gyatso (the incumbent spiritual head) underwent a knee surgery in New York earlier this year. "According to my dream, I may live 110 years," the Dalai Lama said when asked about his health and how he was feeling.This reply has become familiar to those who have closely followed the Nobel laureate, as he has been offering similar assurances for years. The Dalai Lama fled to India in early 1959, following a failed uprising against Chinese rule. Since then, he has led the Tibetan government-in-exile and maintained his spiritual leadership for Tibetan Buddhists. Beijing, however, insists it will choose his successor. The Dalai Lama, on the other hand, has maintained that his reincarnation could be found in India, and warned that any successor chosen by China would not be respected by his followers. Tibetan Buddhists believe that learned monastics are reincarnated after death as newborns. Thus, the question of his successor has remained central to the community's future. His prediction of living for another two decades is a comfort to his followers, though many still seek clarity on how the transition will unfold. Dolma Tsering Teykhang, the deputy speaker of the Tibetan parliament-in-exile, which is also based in Dharamshala, noted that more clarity on the Dalai Lama's succession could come when he turns 90 in July. "We are just lay people, we can't fathom his wisdom, so we are waiting for his clear guidance," Teykhang told Reuters in her office, which is located about 2 km (1.5 miles) from the Dalai Lama's residence.
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2024-12-30 11:49
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2024-12-30
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11:49
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moneycontrol.com
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https://www.moneycontrol.com/technology/china-s-haier-plans-3rd-plant-in-india-targets-rs-11-500-cr-revenue-next-year-article-12899997.html
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China's Haier plans 3rd plant in India, targets Rs 11,500-cr revenue next year
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Haier India.Related stories.
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Haier Appliances India plans to set up a third manufacturing facility in South and is now zeroing in on the location for the new plant. It will primarily cater to the domestic market and explore export opportunities once it starts operations by 2027. According to NS Satish, president of the Indian arm of Chinese consumer durables giant Haier, after surpassing $1 billion in revenue in 2024, the company has set an ambitious target to increase its India revenue to Rs 11,500 crore by 2025. “2024 has been one of the best years for us in terms of overall business, with every product category showing strong growth. We have already surpassed the $1-billion revenue mark this year, achieving 35 percent year-on-year growth,” he toldMoneycontrol. “Our target for 2025 is Rs 11,500 crore, and we are ready with our product planning for the next year.” The company follows a January-December financial year format. Haier is the third-largest in the appliances league in India after LG and Samsung. Globally, India ranks as the third-largest market for Haier Group, following China and the US. The company competes with other major players, including Whirlpool, Havells-owned Lloyd, Godrej Appliances, and Voltas Beko, selling a range of products such as refrigerators, washing machines, televisions, and air conditioners. Haier is reportedly exploring the sale of an equity stake worth over $1 billion in its Indian operations. Family offices of prominent industrialists and private equity funds are said to be eyeing a majority stake. Satish, however, declined to comment on these discussions. The company has invested Rs 2,500 crore in India to date and recently announced plans to invest Rs 800 crore to expand its Greater Noida plant. “We had planned a Rs 400-crore investment for phase two, and the factory is now operational. Trial production, including injection moulding and backward integration of sheet metal works, has started. Commercial production is expected to begin soon,” Satish said. In addition to manufacturing, Haier is investing in training engineers to reduce customer turnaround time for product installation and repair while improving quality at the manufacturing level. Satish described Haier as a “challenger brand” in both premium and mass-market segments, emphasising the company’s investments in manufacturing, service, and sales infrastructure. Strategically addressing diverse consumer needs, Haier introduced premium products like three-door refrigerators, 65-inch smart TVs, and 10-kg washers, alongside affordable options such as semi-automatic washing machines and single-door refrigerators. This approach has strengthened its market positioning while optimising operational costs. “Our market share has increased across every product category, growing consistently by 0.1-0.2 percent each month. While our overall business has performed well, the industry faced challenges, particularly during Diwali,” Satish noted. The executive also said the rural demand didn't pick up as the company had anticipated but still termed it better than 2023. "The wedding season is on, especially in the Hindi heartland. Let's hope the demand goes up. While the demand hasn't picked up to the extent we expected, it is better than last year."
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2024-12-30 11:46
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2024-12-30
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11:46
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moneycontrol.com
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https://www.moneycontrol.com/news/business/now-china-s-central-bank-owns-rs-40k-crore-portfolio-in-india-even-as-ties-remain-turbulent-12899937.html
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China's central bank owns Rs 40k-crore portfolio in India, even as ties remain turbulent
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Now, China's central bank owns Rs 40k-crore portfolio in India, even as ties remain turbulent.Related stories.
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People’s Bank of China (PBOC)—the central bank of the world’s second largest economy— is quietly building its India portfolio even as the geo-political relationship between India and China have remained turbulent. According to data compiled by Moneycontrol from various filings from Ministry of Corporate Affairs(MCA), PBOC held shares in at least 35 Indian companies amounting to a portfolio value of about Rs 40,000 crore at the end of FY24. ICICI Bankis the top India bet of PBOC in terms of market value as the central bank owns shares worth Rs 6,139 crore in the private lender. PBOC owns shares worth Rs 5,344 crore in HDFC Bank, while it owns shares worth Rs 5,303 crore in Infosys, data showed. PBOC also held shares worth Rs 1,414 crore in Indian government-promoted Power Grid Corporation. The development assumes significance as PBOC’s name featured for the first time in the shareholding pattern of erstwhile HDFC (now merged into HDFC Bank) in 2020 at the height of the pandemic, leading to concerns about Chinese investments into India. This eventually led to the central government issuing ‘Press Note 3’. The note made Indian government's approval mandatory for all Chinese investors who seek to make investments into India unlisted companies. While, there is no restriction on Chinese investments into listed companies, market regulator Securities and Exchange Board of India (Sebi), in the past, had expressed concerns about potential misuse of the foreign portfolio investor (FPI) route by Chinese investors to circumvent Press Note 3 restrictions. Top India bets of PBOC PBOC owns shares worth Rs 3,619 crore in software company TCS. Kotak Mahindra Bank, Hindustan Unilever and Bajaj Finance are other top bets of PBOC where the market value of the investment is more than Rs 1,500 crore. Additionally, the Chinese central bank owned shares worth over Rs 1,100 crore in Maruti Suzuki, Tata Motors and Ultratech Cement. Bajaj Finserv, Tata Motors and Asian Paints, and Paytm’s parent One97 Communications are amongst the other top bets of PBOC in India, data showed. PBOC’s first investment into ICICI Bank was a Rs 15 crore purchase it made in the lender in 2020 during a qualified institutional placement, according to various media reports. Since then, PBOC has increased its exposure to the bank and currently owns 0.67% in ICICI Bank. According to the data, the Chinese central bank doesn’t own more than 1% in any of its India portfolio companies. Sebi disclosure rules mandate all listed companies to disclose name of all shareholders owning more than 1% equity. However, while filing annual returns with MCA, companies are required to file a form named MGT-7, which mandates disclosure of all major foreign investors in the company. The deadline for companies to file this form is November 30 every year. Sebi's concerns on misuse of FPI route by Chinese investors In a circular dated August 24,2023 Sebi made it mandatory for certain FPIs to disclose granular details of their beneficial owners. In the circular, Sebi has cited potential misuse of FPI route by Chinese investors. “While PN3 is not applicable to FPI investments, there are concerns that entities with large Indian equity portfolios could potentially disrupt the orderly functioning of Indian securities markets by misusing the FPI route” the circular said. Further, Sebi issued a discussion paper on July 30,2024 proposing to introduce a framework where FPIs will be marked based on percentage of investors originating from China into FPIs. It said, FPIs having over 50% of their investors from China to be marked as LBC entities (Land Bordering Country entities). No final rules have been yet issued on the same. Currently, there are 17 FPIs registered as originating from China including China government owned Best Investment Corporation and Asian Infrastructure Investment Bank, NSDL data showed. Best Investment Corporation is owned by China’s sovereign wealth fund China Investment Corporation(CIC) that manages $870 billion worth assets worldwide. However, Best Investment Corporation owns only shares worth Rs 800 crore in India in companies such as Infosys and Power Grid, data showed.
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2024-12-30 11:38
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2024-12-30
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11:38
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moneycontrol.com
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https://www.moneycontrol.com/news/india/prayagraj-hotels-prepare-for-massive-maha-kumbh-footfall-room-tariffs-shoot-up-12899911.html
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Prayagraj hotels prepare for massive Maha Kumbh footfall, room tariffs shoot up
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As the Maha Kumbh approaches, Prayagraj’s hotels are optimistic about a successful season..Related stories.
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Prayagraj, the sacred city preparing to host the Maha Kumbh starting January 13, is abuzz with activity to accommodate over 40 crore devotees. While the city’s hotels are gearing up to welcome pilgrims, visitors will need to brace themselves for increased tariffs. “The hotels in Prayagraj are ready to welcome pilgrims, but they will have to pay more,” said Harjinder Singh, President of the Hotel Association and owner of Milan Palace Hotel, during a conversation with Money Control. “While we are witnessing a steady flow of booking inquiries, many have yet to convert into confirmed reservations. That said, we expect all hotel rooms to be fully booked before the Kumbh begins,” he added. Dharamshalas, traditionally the first choice for many pilgrims, are already fully booked. Government-provided tent accommodations and lodging facilities offered by akharas are other popular options. However, Prayagraj’s hotels are taking measures to remain competitive. Lessons from 2019 Kumbh “During the 2019 Kumbh, unchecked tariff hikes caused significant business losses,” Singh admitted. “Many pilgrims opted for Varanasi, where hotels offered more reasonable rates along with transportation to the Sangam. This year, we are adopting a structured pricing policy. Maximum room rates will be capped at ₹20,000, whilebudgetaccommodations will start at ₹3,000.” Not all hoteliers are convinced by strict price capping. Arun Mittal, a hotel owner, remarked, “Price control is dictated by demand and supply. If the government follows dynamic pricing systems in sectors like aviation, why shouldn’t we apply the same logic?” Ashish Mishra, an employee at Ambar Hotel, provided additional insights. “We have increased tariffs by 20% to 30% this year. Premium locations or hotels with superior facilities might charge slightly more,” he said. “Our goal is to balance demand while ensuring pilgrims find value for money.” Hotels are also striving to improve their services to retain trust. “We’re committed to providing an affordable yet comfortable experience for pilgrims,” Singh noted. “Our intention is not to exploit devotees but to offer them quality stays at fair prices.” Enhanced services and international appeal Hoteliers are focusing on enriching the visitor experience, especially for international tourists. “Many foreign guests struggle with transportation and logistics,” Singh explained. “This year, we’re introducing airport pickups, guided cultural tours, and dedicated vehicles to take them to significant Kumbh venues.” The improved connectivity to Prayagraj is also expected to attract more visitors. “In 2019, Varanasi had the edge in air and road connectivity. This year, Prayagraj’s upgraded airport and additional flights are a game-changer,” Singh observed. Ashok Tiwari, a manager at a mid-sized hotel, echoed this optimism. “Prayagraj has over 250 hotels, including 133 large establishments, all geared up to provide exceptional service. We aim to make this Maha Kumbh a memorable experience for every visitor,” he said. Homestay scheme for pilgrims The Prayagraj Development Authority (PDA) is addressing the accommodation crunch with an innovative Homestay Scheme. Through a partnership with service provider Gaon Dekho, local property owners can rent out their homes to visitors, offering a more personalized and affordable lodging experience. “This collaboration officially designates www.kumbhstays.com as the go-to platform for bookings,” said Padmabhushan Singh, nodal officer for the Kumbh Stay Scheme. “It’s a win-win—pilgrims get safe and enriching stays, while locals benefit economically.” Shubhojit Sarkar, involved in the project, added, “This scheme not only addresses the demand for accommodations but also allows visitors to immerse themselves in the local culture and hospitality.” Looking ahead As the Maha Kumbh approaches, Prayagraj’s hotels are optimistic about a successful season. “The spiritual and cultural magnetism of the Kumbh has sparked immense interest, both domestically and internationally,” Singh said. “We are focused on creating a seamless and enriching experience for all visitors.” In an effort to bring back trust and provide value, hoteliers are leaving no stone unturned. “Our mission is to showcase the grandeur of the Maha Kumbh while ensuring that every guest leaves with cherished memories of Prayagraj,” Tiwari concluded.
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2024-12-30 11:38
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2024-12-30
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11:38
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moneycontrol.com
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https://www.moneycontrol.com/news/business/rupee-dips-in-early-trade-on-dollar-demand-from-importers-12900000.html
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Rupee dips in early trade on dollar demand from importers
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Rupee.
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The rupee shed around 4 paise in early trade on December 30 on stronger demand for dollars from importers, currency experts said. The currency traded at 85.52 against the US dollar at 10:56am, dipping from 85.48 at the open and 85.54 at close in the last session. On Friday, the rupee remained highly volatile due to dollar demand linked to the expiry of December currency futures and maturing positions in the outstanding forwards. Outflows from equities and sluggish growth also put the currency under pressure. However, the Reserve Bank of India (RBI) stepped in towards the close, helping in the recovery. For the year so far, the rupee has weakened by 3 percent against the dollar, and is set to post annual losses for seventh year in a row. On a monthly basis, the Indian currency is poised to see its worst month in two years. The rupee fell nearly 0.3 percent last week, making its eighth weekly fall in a row. Indian bond yields stayed stable at 6.778 percent, as compared to 6.795 percent at close in previous trading session.
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2024-12-30 11:34
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2024-12-30
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11:34
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moneycontrol.com
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https://www.moneycontrol.com/news/india/doesn-t-seem-like-suicide-elon-musk-supports-suchir-balaji-s-mother-amid-cold-blooded-murder-claim-12899965.html
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'Doesn’t seem like suicide': Elon Musk supports Suchir Balaji’s mother amid 'cold-blooded murder' claim
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Suchir Balaji (R) was found dead at his apartment in November.
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Elon Musk has supported the claims made by Poornima Ramarao, the mother of Suchir Balaji, after her son was found dead in his San Francisco apartment on November 26. Balaji, a former employee of OpenAI, the parent company of ChatGPT, had turned whistleblower and raised concerns about the company’s use of copyrighted data before his death. His mother has cast doubt on the official ruling of suicide, suggesting foul play and calling for an FBI investigation. In a post on X, Ramarao revealed that a private investigator and a second autopsy had been conducted, neither of which confirmed the police’s cause of death. She claimed that Balaji’s apartment appeared to have been ransacked, with signs of a struggle in the bathroom and blood spots indicating a possible altercation. "It’s a cold blooded murder declared by authorities as suicide," she said and demanded further investigation.Update on@suchirbalajiWe hired private investigator and did second autopsy to throw light on cause of death. Private autopsy doesnt confirm cause of death stated by police.Suchirs apartment was ransacked , sign of struggle in the bathroom and looks like some one hit himPoornima Rao (@RaoPoornima)December 29, 2024 "Lobbying in SF city doesn’t stop us from getting justices. We demand FBi investigation," she posted on X. Elon Musk reacted to her post with a short but supportive comment: "This doesn’t seem like a suicide." Balaji was found dead in his Buchanan Street apartment on November 26. The news of his death sent shockwaves in the industry, especially given his outspoken views on artificial intelligence. In an interview with The New York Times in October, he had accused OpenAI of violating copyright laws and argued that technologies like ChatGPT were harmful to the internet. He also left his job at OpenAI, citing ethical concerns about contributing to a technology he believed would do more harm than good. Before his death, Balaji had become a vocal critic of the AI industry. His mother highlighted how her son had become increasingly skeptical about AI’s impact on humanity. "He felt AI is a harm to humanity," she recalled.
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2024-12-30 11:33
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2024-12-30
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11:33
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moneycontrol.com
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https://www.moneycontrol.com/news/india/why-donald-trump-s-proposals-on-panama-canal-greenland-and-canada-have-caused-global-unease-12899993.html
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Why Donald Trump’s proposals on Panama Canal, Greenland, and Canada have caused global unease
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In his Christmas post on Truth Social, US President-elect Donald Trump also addressed the people of Greenland, which he said the US needed for national security purposes. (AP Photo).Related stories.
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Days ahead of his return to the White House after a gap of four years, US President-elect Donald Trump has vowed to take over the Panama Canal, called for the US to buy Greenland from Denmark and suggested Canada become the 51st state of the United States of America. In a series of Christmas Day posts on his Truth Social platform, Trump started off by wishing a merry Christmas to all, "including to the wonderful soldiers of China, who are lovingly, but illegally, operating the Panama Canal." He referred to the American lives lost during the canal's construction more than 100 years ago and added that the United States "puts in Billions of Dollars in 'repair' money, but will have absolutely nothing to say about 'anything.'" Trump then mocked Canadian Prime Minister Justin Trudeau, whom he referred to as "governor," and suggested once again that the United States could annex Canada as its 51st state. Trump continued his post by addressing "the people of Greenland, which is needed by the United States for National Security purposes and, who want the U.S. to be there, and we will!" Let’s understand the reasons behind Trump’s interest in these three territories and how his proposals have generated significant global concern. The Panama Canal – A strategic asset for control Built in the early 20th century, the canal links the Atlantic and Pacific Oceans, dramatically reducing the time and distance needed for maritime shipping between the two. Historically, control over such a strategic choke point has been of paramount importance for global powers, and for much of the 20th century, the United States maintained authority over the canal. However, the U.S. ceded control to Panama in 1999 under the Torrijos-Carter Treaties, after a prolonged and contentious debate. Trump has time and again expressed dissatisfaction with the fact that the U.S. no longer controls this important trade route. In a 2016 interview, Trump suggested that the U.S. should have retained control of the canal, arguing that it would be advantageous for the country to have this strategic location in its hands, especially in light of China's growing presence in Latin America. Greenland – The pursuit of economic and military interests In 2019, during his previous term as the US President, Trump made an unsolicited offer to purchase Greenland from Denmark. The proposal shocked both Denmark and Greenland, leading to a diplomatic uproar. Danish Prime Minister Mette Frederiksen swiftly rejected the offer, calling it "absurd," and Greenland's leadership, including Premier Kim Kielsen, also made it clear that the territory was not for sale. Given the fact that Greenland sits in a prime location near the Arctic, Trump likely recognized Greenland’s potential for both military expansion—as a location for military bases and defense initiatives in the Arctic—and economic interests, such as its mineral resources (including rare earth metals). Greenland’s proximity to Russia, combined with the growing interest in the Arctic region, makes it a valuable asset for the U.S. as it seeks to maintain global influence and counter the expanding interests of China and Russia in the region. Canada – A close neighbour While Trump never explicitly called for the U.S. to take control of Canada, his administration's aggressive trade stance toward its neighbor gave rise to concerns about potential U.S. dominance over the country. Though Trump never suggested outright annexation or control over Canada, the rhetoric used to describe the U.S.-Canada relationship during his tenure often bordered on domination. Many of his remarks were framed around America’s strength and need for better deals, creating a sense of anxiety in Canada about being pressured into subordinating its interests to those of its larger neighbour. Global unease Trump's remarks regarding Canada, Greenland, and the Panama Canal have caused disquiet throughout the world, which is indicative of larger worries about American foreign policy under his direction. Trump's foreign policy rhetoric was often characterised by a concentration on American dominance, skepticism of multilateral institutions, and unilateralism during his presidency. Both U.S. friends and enemies were alarmed by these characteristics, as many believed that Trump's desire to seize strategically significant areas was part of a larger plan to alter the balance of power in the world. Trump's interactions with European allies, Canada, and NATO often left these countries questioning the future of U.S. leadership in international diplomacy. The emphasis on “America First” and the disregard for multilateral agreements fueled concerns that America might seek to impose its will on other nations.
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2024-12-30 11:32
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2024-12-30
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11:32
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moneycontrol.com
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https://www.moneycontrol.com/technology/iphone-air-a-new-smart-home-device-and-more-what-apple-may-have-in-store-for-2025-article-12899723.html
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iPhone ‘Air’, a new smart home device, and more: What Apple may have in store for 2025
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Apple.Related stories.
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If rumours are to be believed then Apple is set to have a rather busy 2025 when it comes to product launches. We may see as many as five new iPhones. Among the most anticipated launches is the iPhone Air, rumoured to be a lightweight, ultra-slim device. Adding to the buzz is a smart home hybrid device, blending the functionality of an iPad and HomePod into a centerpiece for connected living. With advancements in AI and more across its lineup, Apple’s 2025 reveals could shape consumer tech’s next big trends. The iPhone goes the Air way? Apple is reportedly working on a new model for 2025, and it’s rumoured to be called the iPhone 17 Air. It will not be as powerful or expensive as the Pro models, but it’s still a step up from the regular iPhone 17. The iPhone 17 Air is rumored to be only 6mm thick, which is a huge difference from the iPhone 16 Pro, which is 8.25mm thick. The thin iPhone is rumoured to have a 6.6-inch display, which is between the iPhone 17 and the iPhone 17 Pro Max in size. It may only have one camera on the back, a 48-megapixel one. AirPods with health features Apple just refreshed the AirPods 4 in 2024, and rumour has it that AirPods Pro will be getting an update in 2025. The AirPods 4 got a sleeker case, so that might be the case (no pun intended) for the AirPods Pro 3 too. One thing’s for sure, sound quality and Active Noise Cancellation are going to get better. There have been some whispers that heart rate tracking and temperature monitoring might come to the AirPods Pro, so that’s another possibility. But for now, we’ll just have to wait and see what Apple has in store for us. An all-new smart home device Apple is speculated to be cooking up a small, square-shaped gadget. It’s like Apple’s take on the Echo Show, but way smaller. Like an iPad meets a HomePod sort of device, which will let you control your smart home devices, make FaceTime calls, watch videos, and more. It’s rumoured to be only six inches big, so you can move it around easily. Rumours suggest that it will have all the usual Apple apps like Home, Calendar, Apple Music, Apple News, and Apple Photos. But Apple isn’t making a special App Store for it. Though it is rumoured that an all-new HomeOS is expected to debut this year. The affordable iPhone Apple is finally ready to give itsbudget-friendly iPhone a makeover, and the iPhone SE 4 is about to get some serious upgrades that could make it a steal. Get ready to say goodbye to small screens and Touch ID. The iPhone SE is expected to have a 6.1-inch OLED display and Face ID. Rumors say it’s even modeled after the iPhone 14. It’ll have a single-lens 48-megapixel rear camera, a notch for Face ID, and a USB-C port for charging. The iPhone SE is also expected to be the first to get Apple’s own 5G modem and might even have the same A18 chip as the iPhone 16. The A18 chip in the iPhone SE will bring Apple Intelligence, giving you Genmoji, Image Playground, Writing Tools, smarter Siri, and more. Plus, 8GB RAM is the minimum for Apple Intelligence, so the iPhone SE will get a big memory boost. When it launches, the iPhone SE’s performance is expected to be on par with the iPhone 16, which is really impressive for a budget-friendly iPhone. There’s no word yet if Apple will raise prices, but we’re still expecting the iPhone SE to cost less than $500.
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2024-12-30 11:23
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2024-12-30
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11:23
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/vodafone-idea-shares-rise-over-6-as-govt-waives-bank-guarantees-for-past-spectrum-auctions-12899938.html
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Vodafone Idea shares rise over 5% as govt waives bank guarantees for past spectrum auctions
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Vodafone Idea shares rise over 6% as govt waives bank guarantees for past spectrum auctions.Related stories.
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Shares ofVodafone Idearose over 5 percent on December 30 as government waived bank guarantees for past spectrum auctions. At 11:1o am on December 30, Vodafone Idea shares were trading at Rs 7.88. The telecom firm has been exempted from providing bank guarantees worth Rs 24,800 crore for spectrum auctions held before 2021 (2012, 2014, 2015, 2016). In a December 28 filing, the company termed the government reform as a "big relief for telecom companies". Follow our market blog for live updates The company added that prior to this reform, bank guarantees aggregating to Rs 24,800 Crore were required to be provided by the company against each spectrum instalment, 13 months prior to the installment falling due for the above auctions. But now, as per their understanding, out of all the 5 auctions, no bank guarantees will be required to be provided by the company for the 2012, 2014, 2016 and 2021 auctions. "(However) There would be a one-time partial shortfall only for the 2015 auction, where the Net Present Value (NPV) of all payments made would be less than the pro-rated value of spectrum used. We are in discussion with the DoT to determine the final amount of this partial shortfall for the 2015 auction," they noted. The Union Cabinet had approved a proposal to waive the bank guarantee requirement last month.Moneycontrolhad reported that this move would provide relief for financially stressed Vodafone Idea (Vi), expected to benefit from around Rs 24,700 crore of the Rs 33,000-crore sector-wide relief and will enable lenders to extend additional credit to the company. The market capitalisation of the stock is Rs 55,000 crore. Its 52-week low is Rs 6.61 and 52-week high is Rs 19.18. In Q2FY25, the teleco had reported a decline in its consolidated net loss to Rs 7,176 crore from Rs 8,737 crore in the previous fiscal. Revenue from operations for the same period had increased by 2 percent year-on-year (YoY) to Rs 10,932 crore. EBITDA (Earnings before interest, taxes, depreciation and amortisation) for the quarter increased to Rs 4550 crore against Rs 4283 crore in the previous fiscal.
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2024-12-30 11:23
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2024-12-30
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11:23
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moneycontrol.com
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https://www.moneycontrol.com/news/world/elon-musk-says-h-1b-visa-broken-needs-reform-amid-heated-immigration-debate-12899990.html
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Elon Musk says H-1B visa 'broken, needs reform' amid heated immigration debate
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Elon Musk.Related stories.
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Elon Musk on Sunday said that the H-1B visa system in US is "broken and needs a major reform", just days after he pledged to "go to war" to defend the mechanism that allows skilled foreign workers to work in the country. His latest remark on the H-1B visas, which has triggered a heated debate in America, came in response to a user on X. READ: F*** yourself...': It's Musk's Tech Bros vs MAGA as fierce war erupts in Trump camp over immigration The tech mogul said that he has been very clear that the system is “broken” and “needs a major reform”. He was responding to a user who said that US needs to be a destination for the world’s “most elite talent" but “H1-B visa isn’t the way to do that”. Musk and his DOGE co-lead Vivek Ramaswamy have fiercely defended the H-1B visa system after several loyalists of Donald Trump, who are part of the MAGA (Make America Great Again) base criticized the immigration route. The controversy erupted after Trump name Sriram Krishnan, an Indian-origin Venture Capitalist (VC), has the senior policy advisor for Artificial Intelligence. Musk had earlier defended the H-1B visa system and the idea of immigration as a whole, saying that there is a dire shortage of extremely talented and motivated engineers in America. The billionaire, who is himself a South African immigrant, doubled down on his stand recently when he dropped the F-bomb on X and declared that he will go to war on the issue. “Take a big step back and F**K YOURSELF in the face. I will go to war on this issue the likes of which you cannot possibly comprehend," he told a user on X as the immigration debate intensified. Last week, President-elect Trump also sided with Musk and his other backers in the tech industry as a dispute over immigration visas has divided his supporters. Trump, in an interview with the New York Post on Saturday, praised the use of visas to bring skilled foreign workers to the US. “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them,” Trump said. Software engineers and others in the tech industry have used H-1B visas for skilled foreign workers and say they are a critical tool for hard-to-fill positions. But critics have said they undercut US citizens who could take those jobs. Some on the right have called for the program to be eliminated. (With inputs from agencies)
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2024-12-30 11:16
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2024-12-30
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11:16
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moneycontrol.com
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https://www.moneycontrol.com/news/india/siang-project-not-just-for-generating-power-but-mitigating-flood-risks-posed-by-china-arunachal-cm-pema-kahandu-12899978.html
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Siang project not just for generating power but mitigating flood risks posed by China: Arunachal CM Pema Kahandu
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Arunachal CM Pema Khandu.
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Arunachal Pradesh Chief Minister Pema Khandu said the Siang Upper Multipurpose Project (SUMP), estimated to cost Rs 1.13 lakh crore, was being planned by the Centre not just for generating electricity but to maintain the natural flow of the river all year round and mitigate risks of flooding if China released excess water. Khandu's remarks came in the wake of China approving the construction of the world's largest dam, at a cost of USD 137 billion, on the Brahmaputra river in Tibet close to the Indian border. The dam is to be built at a huge gorge in the Himalayan reaches where the Brahmaputra river makes a huge U-turn to flow into Arunachal Pradesh and then to Bangladesh. "The SUMP, with an estimated installed capacity of 11,000 mw, is not just about generating power, but also about maintaining the natural flow of the Siang river and mitigating potential flood risks from water releases by China," Khandu told PTI in an interview.Describing SUMP as a project of national importance, he said hydropower generation is only the secondary goal of it. "The real objective of the project is to save the Siang river and the communities that have depended on it for generations," he said.The survey for preparing the pre-feasibility report of the projects is yet to be done amid stiff opposition from locals who are concerned about displacement, loss of livelihoods, and environmental impact of the mega dam. Warning of severe consequences if China's project moves ahead "without safeguards", Khandu said the neighbouring country's plans to divert water from the Brahmaputra into its arid regions could drastically reduce the flow of the Siang river during winters."In such a scenario, the volume of water could decrease so much that one might be able to cross the mighty river on foot," he claimed. "The proposed Siang project would create a reservoir capable of storing 9 billion cubic meters of water. This would ensure the river maintains a consistent flow, even during dry seasons. Additionally, the reservoir would act as a buffer in case of sudden water releases from upstream Chinese dams, potentially averting catastrophic flooding in Arunachal Pradesh, Assam and Bangladesh," he said. Acknowledging the ongoing bilateral discussions between India and China, the CM cautioned against "complacency". "China is unpredictable and can do anything," Khandu said, underscoring the need for India to remain vigilant."We cannot take chances when it comes to national security and the welfare of our people," he said. The Chinese government approved the construction of the hydropower project in the lower reaches of the Yarlung Zangbo river, the Tibetan name for the Brahmaputra. It is expected to generate more than 300 billion kWh of electricity each year – enough to meet the annual needs of over 300 million people. The total investment in the dam could exceed one trillion yuan (USD 137 billion), which would dwarf any other single infrastructure project on the planet, including China's own Three Gorges Dam, regarded as the largest in the world. On the concerns of the locals, Khandu said the government would conduct extensive surveys before finalising the plans."Only after these studies, we will know the exact location of the dam, its height, and the submergence area," he said, adding that a public hearing will be held to listen to people's concerns.The CM said India was a democratic country, and it does not believe in "forcing" things on its people.However, he criticised activists, accusing them of spreading misinformation among villagers about the project.He claimed that these activists were instigating people without providing accurate information about the project's benefits."I urge people to come forward and get their confusions addressed through dialogue," he said.
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2024-12-30 11:14
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2024-12-30
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11:14
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/cigniti-tech-shares-fall-over-6-on-announcement-of-share-swap-ratio-for-coforge-merger-12899988.html
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Cigniti Tech shares fall over 6% on announcement of share swap ratio for Coforge merger
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Cigniti Tech shares fall over 6% on announcement of share swap ratio for Coforge merger.
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Shares of Cigniti Technologies were trading over 6% lower on December 30, days after the company announced the merger swap ratio of 1 share of Coforge for every 5 shares of Cigniti Tech. Share swap transaction will lead to 4% dilution in Coforge equity shares. The merged entity will create 3 new scaled-up verticals- Retail, Technology, and Healthcare. At 11 am on December 30, Cigniti Tech shares were trading 6.5% lower at Rs 1,729 apiece. The market capitalisation of the stock is Rs 4,720 crore. Its 52-week low is Rs 942.1 and 52-week high is Rs 1,970. Meanwhile, shares of Coforge were trading 0.45% higher at Rs 9,495 apiece.
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2024-12-30 11:13
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2024-12-30
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11:13
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/jefferies-greed-fear-note-by-chris-wood-tweaks-long-only-portfolio-brings-back-hdfc-bank-adds-siemens-india-12899933.html
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Jefferies' Greed & Fear note by Chris Wood tweaks long-only portfolio, brings back HDFC Bank, adds Siemens India
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In the India long-only equity portfolio, financials have the largest weight with names like ICICI Bank, HDFC Bank, Axis Bank, SBI, SBI Life, REC and PB Fintech..Related stories.
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Jefferies' Greed & Fear has reported adjustments to Asia ex-Japan long-only equity portfolio, reintroducing an investment in HDFC Bank, taking the total exposure to Indian private banks at 12%, a note revealed on December 27. This increase will offset by reducing investments in Macrotech Developers, Larsen & Toubro, ICICI Bank and Axis Bank being one percentage point each, said the GREED & fear note. The portfolio has initiated an investment in Siemens with a 4% weight. In the India long-only portfolio,Siemenswill be introduced with a 4% weight by removing AU Small Finance Bank, and investment inHDFC Bankwill be raised by one percentage point by trimming investment in Axis Bank, said Jefferies' note on the recommendations by Chris Wood. The Asia ex-Japan long-only equity portfolio has names like Zomato, SBI and SBI Life, Godrej Properties, Macrotech, private banking names like HDFC Bank, Axis Bank and ICICI Bank, and JSW Energy. Infrastructure and industrials have a strong presence in names like GMR Airports, L&T and Siemens. In the global long-only equity portfolio, names from India include Zomato, Godrej Properties, Axis Bank, ICICI Bank and L&T. In the India long-only equity portfolio, financials have the largest weight with names like ICICI Bank, HDFC Bank, Axis Bank, SBI, SBI Life, REC and PB Fintech.
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2024-12-30 11:12
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2024-12-30
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11:12
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moneycontrol.com
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https://www.moneycontrol.com/news/india/explained-why-china-s-usd-137-billion-mega-dam-on-brahmaputra-should-worry-india-12899940.html
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Explained: Why China’s USD 137 billion-mega dam on Brahmaputra should worry India
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The proposed mega dam is part of China's 14th 5-year plan and will have three times the capacity of the Three Gorges Dam pictured above. (Photo: Reuters).Related stories.
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China recently approved the construction of the world's largest dam, stated to be the planet's biggest infra project costing $137 billion, on the Brahmaputra River in Tibet close to the Indian border. Beijing has defended its plan, saying the project will not “negatively affect” lower riparian states and that safety issues have been addressed through decades of studies. However, India views it with apprehension for several critical reasons. Water Control:The Brahmaputra River, known as Yarlung Zangbo in Tibet, is a lifeline for millions in India’s Northeastern states and Bangladesh. A dam of this magnitude would grant China significant control over the river’s water flow. This raises fears of potential water shortages during dry seasons and disruptions to agricultural activities in downstream countries. It could also enable Beijing to release large amounts of water flooding border areas in times of hostilities because of its size and scale. Flooding risks:Experts have warned that the proposed dam could exacerbate the risk of flash floods, particularly during monsoon season. The sudden release of large volumes of water from the dam could overwhelm downstream river systems, leading to widespread devastation. Environmental Impact:There would be major environmental effects from the building and operation of such a large dam. Local communities being uprooted, fragile ecosystems being upset, and possible harm to the region's biodiversity are among the major concerns. Geopolitical Tensions:The already tense relationship between China and India is made more complicated by the Brahmaputra River issue, and the lack of openness and restricted information exchange surrounding the dam project only serves to increase anxiety and mistrust. Historical Precedent:Downstream nations are also concerned about China's dam construction on other transboundary rivers, like the Mekong. Tensions have increased as a result of inadequate collaboration and consultation with impacted countries. India too is building a dam over Brahmaputra in Arunachal Pradesh. India and China established the Expert Level Mechanism (ELM) in 2006 to discuss various issues related to trans-border rivers under which China provides India with hydrological information on the Brahmaputra and Sutlej Rivers during the flood seasons. Data sharing of trans-border rivers figured in the talks between India, China Special Representatives (SRs) for border questions which NSA Ajit Doval and Chinese Foreign Minister Wang Yi held in Beijing on December 18. The SRs provided positive directions for cross-border cooperation and exchanges including data sharing on trans-border rivers, a statement by the Ministry of External Affairs said. The Brahmaputra Dam presents enormous engineering challenges as the project site is located along a tectonic plate boundary where earthquakes occur. The Tibetan plateau, regarded as the roof of the world, frequently experiences earthquakes as it is located over the tectonic plates. (With agencies)
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2024-12-30 11:11
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2024-12-30
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11:11
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moneycontrol.com
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https://www.moneycontrol.com/news/business/startup/funding-winter-to-ipo-frenzy-how-indian-startup-ecosystem-went-back-on-the-boil-in-2024-12899799.html
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Funding winter to IPO frenzy: How Indian startup ecosystem went back on the boil in 2024
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Startup world bounces back in 2024.Related stories.
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After nearly two years of funding winter, the startup ecosystem in India regained the heat in 2024 and companies mapped out the blueprint to boost profitability and improve unit economics, even as investors tightened their purse strings and posed tougher questions before writing the cheques. Funding among startups increased 14 percent to $10.94 billion in 2024, up from $9.58 billion a year back, according to data from venture Intelligence, a market research firm. The double-digit rise came after venture capital funds returned to park big bucks of $100 million or more that was common back in 2021. In fact, late-stage funding in 2024 was almost 36 percent higher on-year to $4.03 billion from $2.97 billion, data showed. At the same time, the total number of deals fell from 829 in 2023 to 809 this year, indicating an increase in overall investments as investors backed promising startups and brushed off the dry powder. Dry powder is all the money that investors have raised from their sponsors or limited partners (LPs) but remains undeployed. "We are now beginning to see successful companies emerge from the cohort that got invested in over the last 10 years,” Sandeep Singhal, co-founder and managing partner at Westbridge Capital, toldMoneycontrolin an interview. “Companies that have found a distinct product-market-fit (PMF) are starting to scale, which is making growth-stage investors take a serious look at them and, in some cases, invest." WestBridge has participated in several large funding rounds this year, investing in a big way in startups such as ride-hailing firmRapido. It also doubled down on edtech firmPhysicsWallah, and e-commerce marketplaceMeesho. The revival in funding comes after a record influx of capital among India’s startups in 2021, when new-age companies raised a staggering $36 billion during the year, thanks to near-zero interest rates by the US Federal Reserve. To be sure, investors are in unison in saying that 2021 was an outlier and the kind of frenzy seen then will not repeat in the years to come. Since then, investments have been on a declining trend. Startups went on to raise $24.65 billion in 2022 and $9.58 billion in 2023, before picking up again this year, Venture Intelligence data showed. This resurgence can largely be attributed to a combination of a maturing ecosystem, regulatory improvements, and a recalibration of investor strategies, according to several investors and stakeholders thatMoneycontrolspoke with. Listing of some major startups and multibagger returns from the likes of Zomato also firmed up investor conviction around new-age companies and their long-term potential. IPO frenzy fuels funding This year saw as many as 13 startups going public, including the likes of Swiggy, Mobikwik, Ola Electric, and FirstCry, mopping up as much as Rs 29,000 crore (around $3.4 billion) together. That was a dramatic improvement from just five such listings in 2023, and just two in 2022, when private market funding was more in vogue. Investors are of the view that India’s now buoyant public markets have restored confidence in new-age companies with strong business fundamentals. In fact, pre-IPO rounds made up a large chunk of late-stage funding this year, bankers said. “Public markets are becoming attractive for private investors seeking lucrative exits, fuelled by growing investor confidence in startups that now enter markets with greater stability in profitability and growth,” said Gaurav Sood, managing director and head of equity capital markets at Avendus Capital. Several IPO-bound firms, such as quick commerce majorZepto, edtech unicorns PhysicsWallah andEruditus, beauty brandPurpelle, and cloud kitchen startupRebel Foods, managed to raise large rounds this year. A bulk of the deals that materialised in 2024 also seemed largebecause of secondary share sales,Moneycontrolhad reported.Apart from secondary share sales, where early backers dilute stake, a bunch of pre-IPO rounds also contributed to the overall deal activity. Pre-IPO rounds, which usually involve companies with proven business models, and is an exercise where IPO-bound companies clean up their captable, are typically priced at a discount to the IPO price. This enables investors to buy shares at a more favourable valuation, offering the potential for significant gains, Avendus' Sood explained. These rounds also offer investors a flexible exit strategy with predictable liquidity post-listing, unlike earlier-stage investments where liquidity is often uncertain. "With more startups going for IPOs, it will give investors further confidence in the kind of opportunity they present," added Singhal. Secondary share sale surge Despite the resurgence in large deals, 2024 saw a shift in how this fundraising took place. Several large funding rounds this year, including those of Purpelle, Lenskart, Rebel Foods, and Perfios,involved secondary share sales. In a primary round, money goes directly into the firm’s bank account. In a secondary transaction, on the other hand, company shares are just transferred from one investor to another. For investors, secondary sales offer a chance to invest in high-growth startups at attractive valuations without equity dilution. They allow funds or individuals seeking liquidity to sell shares, often at a discount to projected IPO valuations, benefiting buyers. “From the startup’s perspective, secondary rounds clean up the captable, replacing fragmented pools of smaller shareholders with larger, strategic investors. This simplification facilitates faster decision-making and improves the efficiency of subsequent fundraising rounds,” said Anirudh A Damani, managing partner at Artha Venture Fund, a micro-VC fund. Early-stage eagerness While most of the funding action has remained at later stages, early-stage funding stayed relatively flat at $1.69 billion in 2024, compared to $1.67 billion in 2023, despite a reduction in the number of deals from 494 to 459 during the same period, data from Venture Intelligence showed. According to investors, the lack of exit opportunities amid the funding winter, among other factors, was a deterrent to early-stage investments. "(Startups going to IPOs) lead to increased conviction in the early-stage ecosystem. When we see the whole engine - of investing in startups, them growing and scaling, and ultimately going public - working, it builds conviction. Without that proof, sometimes investors at the early and mid stage tend to pause and think about whether the companies will deliver them liquidity," Singhal said. With another 20-30 startups looking to go public next year, venture capitalists will be eager to make more early-stage investments, he added. Into the new year The new year bodes well for the startup ecosystem. The current IPO frenzy is expected to run well into 2025 as more new-age companies look to enter the stock market. Pre-IPO funding is also set to rise in parallel. “Pre-IPO activity is likely to rise, serving not just as a valuation benchmark but as a strategic opportunity for investors to pare stakes and optimise the IPO size. These rounds are attracting new capital pools, with HNIs and family offices actively taking concentrated positions due to strong alpha generation, enhancing captables and reducing post-listing stock overhang,” said Sood. Investors say that this increased optimism, coupled with the newer pools of available capital, will have a trickle-down effect across early- and growth-stage investments. The year 2025 seems to be one of maturity. There are, maybe, 15 venture-backed companies that are public. But when that number triples, and these companies start to show credible financials quarter-on-quarter, the whole ecosystem will get strengthened, investors underscored. With funding on an upward trajectory, and investor confidence reviving, the country’s booming startup ecosystem, the third-largest in the world, is headed for better days as the new year rolls around.
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2024-12-30 11:02
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2024-12-30
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11:02
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moneycontrol.com
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https://www.moneycontrol.com/news/world/south-korea-and-azerbaijan-air-tragedies-can-seating-determine-survival-rate-in-plane-crash-12899945.html
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South Korea and Azerbaijan air tragedies: Can seating determine survival rate in plane crash?
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Firefighters and rescue team members work near the wreckage of a passenger plane at Muan International Airport in Muan, South Korea (AP).
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Last week, the world watched in shock and amazement as video footage emerged of survivors emerging from the wreckage of an Azerbaijan Airlines plane that crashed in Kazakhstan. Of the 67 people on board, 29 survived, defying the odds in what seemed like a catastrophic event. Yet just days later, on December 29, tragedy struck again when a Jeju Air Boeing 737-800 crashed during an emergency landing in South Korea, claiming 179 lives out of 181 on board. According to reports, only two are reported to have survived the worst aviation disaster in the history of South Korea. Despite the grim statistics, the survival of any plane crash largely depends on a combination of factors, from seating arrangements to the actions of the crew. Experts continue to analyse these elements to understand why some passengers emerge unscathed while others do not. Does where you sit matter? The Azerbaijan Airlines crash has once again put the spotlight on a long-debated topic: whether the rear section of an aircraft is safer. The survivors of the crash were reportedly seated in the aft section. A 2015 analysis by Time Magazine of 17 plane crashes between 1985 and 2000 found that the back third of the aircraft had the lowest fatality rate at 32%. Meanwhile, the middle aisle seats had the highest fatality rate at 44%. Similarly, a 2007 study by an American magazine Popular Mechanics revealed that survival rates were highest in the rear section at 69%, compared to 56% in the middle section and 49% in the front. These findings suggest that during head-on collisions, the back of the aircraft often remains more intact, potentially increasing survivability. Real-world examples reinforce this data. In 1985, the sole four survivors of a Japan Airlines crash were seated in the aft section when the plane hit a mountainside, killing 520 others. Similarly, in a 1985 Delta Air Lines crash in Texas, most of the 27 survivors were seated in the back, which broke free during impact. A controlled crash test conducted by the Discovery Channel in 2012 further validated these insights. The experiment showed that the front section of the test aircraft experienced forces 12 times greater than gravity during impact, compared to six times in the aft section. Heroic crew actions and quick thinking While seating may improve odds, the crew’s actions often determine the ultimate outcome. The pilots of the Azerbaijan Airlines flight have been hailed as heroes, despite losing their lives in the crash. Their efforts likely played a role in saving nearly half the passengers on board. Famed pilot Chesley "Sully" Sullenberger demonstrated the importance of quick decision-making in 2009 when he safely ditched a US Airways plane into the Hudson River after losing engine power. All 155 passengers and crew survived. Similarly, in 1989, a United Airlines plane suffered severe control limitations following engine failure and hydraulic loss. Despite the odds, the pilots’ strategic actions ensured the survival of 184 out of 296 passengers and crew. Cabin crew are also pivotal in crisis situations. During a fiery runway collision involving a Japan Airlines flight earlier this year, flight attendants’ rapid response and clear communication led to the successful evacuation of all 379 people on board. No universal safe zone Despite the data, aviation experts caution against the notion of a universally "safest" seat. The survivability of a crash depends on numerous variables, including the angle of impact, presence of fire and structural integrity of the aircraft. Authorities stress that every incident is unique. For instance, in the South Korean Jeju Air crash, the extent of devastation in both the front and rear sections left little chance for survival. While flying remains one of the safest modes of transportation, these incidents remind us of the importance of adhering to safety protocols and listening to crew instructions. Survival often hinges on a combination of preparation, luck and the extraordinary efforts of those in the cockpit and cabin.
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2024-12-30 11:02
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2024-12-30
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11:02
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/iol-chemicals-surges-5-after-board-approves-stock-split-12899932.html
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IOL Chemicals surges 5% after board approves stock split
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IOL Chemicals stock has also surged close to 15 percent in the past month..Related stories.
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Shares of IOL Chemicals and Pharmaceuticals surged over 5 percent on December 30 as investors lapped up the stock after the board greenlit the proposal for a five-for-one stock split. Shareholders will get five shares for each share they currently own. Following the announcement, investors hoarded shares of the company in hopes of getting rewarded with additional stocks following the split. A stock split is a corporate action in which a company divides its existing shares into multiple shares to boost the stock's liquidity. While the number of shares outstanding increases, the total value of the shares (market capitalisation) remains the same, as the split does not change the company's overall value. This also marks the first stock split in the company's history. IOL Chemicals is yet to announce the record date for this stock split. At 10.46 am, shares ofIOL Chemicalswere trading at Rs 424.05 on the NSE. The upmove was also driven by heavy trading volumes. So far, nine lakh shares of the company have changed hands, already higher than the one month daily traded average of seven lakh shares. The stock has also surged close to 15 percent in the past month. Follow our market blog to catch all the live action Last week, shares of the company had also surged close to 8 percent before the board meeting where the proposal for the stock split was to be taken up. The company clocked in a revenue of Rs 525.75 crore in the September quarter, reflecting a near 4 percent decline from Rs 545.30 crore in the same period of the preceding fiscal. Quarterly net profit plunged 49.43 percent to Rs 19.15 crore, compared to Rs 37.87 crore a year ago.
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2024-12-30 10:57
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2024-12-30
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10:57
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moneycontrol.com
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https://www.moneycontrol.com/news/india/prashant-kishor-booked-as-students-police-clash-in-bihar-over-exam-12899882.html
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Prashant Kishor booked as students, police clash in Bihar over BPSC exam
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The students held a massive protest at Patna’s Gandhi Maidan, demanding a re-exam to be held for the 70th BPSC prelims after alleged irregularities came to the fore..Related stories.
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A police case has been filed against election strategist-turned political leader Prashant Kishor, leaders of his Jan Suraaj party, a few coaching centre owners and 700 unknown protesters over the student protests in Bihar held on Sunday. They have been accused of "unauthorisedly" gathering people, instigating them and creating a law and order problem while marching to Bihar Chief Minister Nitish Kumar's house. The students held a massive protest at Patna’s Gandhi Maidan, demanding a re-exam to be held for the 70th BPSC prelims after alleged irregularities came to the fore. During the march towards CM House, the students broke the barricading at JP Golambar near Gandhi Maidan. The police, however, resorted to mild-lathi charge and water cannons to disperse the protestors. While the security has been beefed up to deal with any anarchic situation, the students have been resolute to encircle the CM house. This led to minor scuffles between students and police. The aspirants have been staging protests in Gardanibagh for several days, expressing their grievances on the matter. While the security was beefed up to deal with the anarchic situation, the students were resolute to encircle the CM house. This led to minor scuffles between students and police. BPSC aspirants said that they don’t want politics and only demand re-exam. “We don’t want to be the victim of their (political leaders) politics…We have only one demand, we want re-examination…An attempt is being made to divert the issue…We don’t want politics in this issue, we only want re-exam…” one aspirant told ANI. The police said that they are ready to listen to the students. SP City Sweety Sahrawat said to ANI, “We requested the students protesting to vacate the place but they didn’t listen to us…We also said that they can put forward their demands, we are ready to listen to them…They also pushed us after which we used water cannon on them…” The Patna administration said that the Jan Suraaj Party was denied permission to organise Chhatra Sansad in front of the Gandhi statue. "However, a crowd gathered at the Gandhi statue and created a law and order problem. A scuffle broke out between the crowd and Police. The crowd broke the loudspeakers installed by the administration. Despite repeated requests, these people violated the guidelines of the administration and disrupted public order. Therefore, the administration removed them by using water cannons and force. An FIR has been registered in Gandhi Maidan police station against 600-700 people including Jan Suraaj Chief Prashant Kishor on charges of unauthorized gathering of crowd, instigating people and creating law and order problems," it told ANI. Kishor seeks justice Kishor urged protestors to halt the agitation for now and said that if the protestors are not satisfied with the government’s response, Monday morning a decision will be made on the further protest.VIDEO | Jan Suraaj Party founder Prashant Kishor (@PrashantKishor) joins#BPSCaspirants during their protest in Patna, Bihar.(Full video available on PTI Videos -https://t.co/n147TvrpG7)pic.twitter.com/0SWNhYxb4PPress Trust of India (@PTI_News)December 29, 2024 “The government officials present here have assured us that the government has agreed to discuss the demands of the students and the five-member students’ committee will go and talk to the Chief Secretary right now so that some decision can be taken on the problems and demands of the students… If after talking to the Secretary, the students or the student organization of BPSC candidates are not satisfied, then tomorrow morning a decision will be made on the further protest…I would request the students not to do anything right now that is not legal… If the decision is not in favour of the students, if any injustice is done to the students, then we will stand with them with full strength…I am with the students…” he said as quoted by ANI.
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2024-12-30 10:37
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2024-12-30
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10:37
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moneycontrol.com
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https://www.moneycontrol.com/technology/oneplus-13-oneplus-13r-launching-in-india-on-january-7-expected-price-specifications-and-everything-else-we-know-article-12899924.html
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OnePlus 13, OnePlus 13R launching in India on January 7: Expected price, specifications and everything else we know
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OnePlus 13.Related stories.
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The OnePlus 13 series is set to launch in India on January 7, featuring the OnePlus 13 and OnePlus 13R. The company has revealed the design and key specifications of the devices on Amazon. Meanwhile, tipsters have speculated the price range for the Indian market. With excitement building ahead of the launch, let us look at the features these smartphones bring to the table. OnePlus 13, OnePlus 13R: Expected price A tipster has predicted that the OnePlus 13 could be priced between Rs 67,000 and Rs 70,000 in India, offering two variants: 12GB RAM with 256GB storage and 16GB RAM with 512GB storage. This shows an increase from the OnePlus 12’s starting price of Rs 64,999 for the 12GB/256GB model. On the global stage, the OnePlus 13 is expected to debut with additional configuration options, expanding its appeal. OnePlus 13, OnePlus 13R: Expected specifications The OnePlus 13 features a stunning design along with powerpacked features. Leaks suggest it will feature a sleek, durable build with thinner bezels and Gorilla Glass Victus 2 protection, ensuring resilience against scratches and drops. The device will sport a stunning 6.82-inch AMOLED display with 2K resolution, QHD+ support, and a 120Hz refresh rate, delivering vibrant visuals and smooth performance for gaming and multimedia enthusiasts. Under the hood, the OnePlus 13 will be powered by Qualcomm’s Snapdragon 8 Gen 3 chipset, promising top-tier performance and energy efficiency. It will also showcase OnePlus’ partnership with Hasselblad, featuring a triple-camera system. This includes a 50-megapixel primary LYT-808 sensor with OIS, 50-megapixel ultra-wide, and telephoto lenses, offering stellar photography and videography capabilities, including enhanced night mode and 4K video recording. A 32-megapixel AI-enhanced front camera ensures sharp, vibrant selfies. The OnePlus 13 is confirmed to house a massive 6,000mAh battery with 100W fast wired charging, 50W wireless charging, and reverse wireless charging capabilities. With its advanced specifications and features, the OnePlus 13 is poised to make a strong statement in the premium smartphone market.
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2024-12-30 10:32
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2024-12-30
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10:32
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moneycontrol.com
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https://www.moneycontrol.com/news/india/supreme-court-collegium-may-pause-recommending-kin-of-judges-as-high-court-judges-12899883.html
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Supreme Court collegium may pause recommending kin of judges as high court judges: Report
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Earlier, the SC collegium solely relied on the detailed biodata of lawyers and judicial officers submitted by HC collegiums..
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The Supreme Court collegium is planning to pause recommending family members of sitting or former constitutional court judges as high court judges, according to a report by Times of India. The proposal reportedly found favour with some and has since gained traction for a debate among other members of the collegium, which comprises CJI Sanjiv Khanna and Justices B R Gavai, Surya Kant, Hrishikesh Roy and A S Oka. The move is aimed at doing away with the perception that these lawyers get priority over first-generation lawyers in the judge selection process. In 2015, a five-judge constitution bench of the top court struck down the National Judicial Appointments Commission (NJAC) which was brought in unanimously by Parliament. The move was aimed at replacing the collegium system created through two judgments of the SC to wrest control of selection of people for appointment as HC and SC judges. Since then, the top court has tried to infuse a certain degree of transparency in the judge selection mechanism.This has not been enough to still the disquiet, which was on open According to TOI, many felt the judges-selecting-judges system encouraged the practice of “you scratch my back, I scratch yours” , It was also believed to be staining the process as many children of sitting or former constitutional court judges were recommended for appointment as HC judges. An advocate had claimed during the NJAC hearing that 50% of HC judges had close relatives as former or sitting constitutional court judges, according to TOI. The collegium also started interacting with lawyers and judicial officers, recommended by HC collegiums for appointment as HC judges, to test their suitability and assess their capability and calibre. The top three judges interacted with those recommended for appointment as judges of Allahabad, Bombay and Rajasthan HCs and forwarded the names they deemed to be eligible for appointment as HC judges to the Centre on December 22, according to the TOI report.Earlier, the collegium solely relied on the detailed biodata of lawyers and judicial officers submitted by HC collegiums, intelligence reports on their antecedents, as well as opinions of governors and CMs concerned. The personal interaction with recommended candidates helped in judging first-hand their demeanour and suitability for appointment as judges, SC insiders told TOI.
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2024-12-30 10:24
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2024-12-30
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10:24
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/ventive-hospitality-ipo-delivers-modest-listing-gains-shares-debut-with-11-premium-over-issue-price-12899897.html
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Ventive Hospitality IPO delivers modest listing gains: shares debut with 11% premium over issue price
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Ventive Hospitality listing is mostly in-line with the Street expectations after the IPO was subscribed 9.80 times overall..Related stories.
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Ventive Hospitality shares made their stock market debut today, listing at Rs 716 on the NSE, with a modest premium of 11 percent over the IPO price of Rs 643 per share. The listing is mostly in line with the Street expectations after the IPO was subscribed 9.80 times overall. Ventive Hospitality IPO highlights Blackstone-backedVentive Hospitalityraised Rs 1,600 crore through its IPO, entirely as a fresh issue with no offer-for-sale component. The IPO, which closed on December 24, had a price band of Rs 610-643 per share. It received 9.08 times subscription in the Qualified Institutional Buyers (QIBs) category, 13.85 times in the Non-Institutional Investors (NIIs) category, and 5.85 times in the Retail Individual Investors (RIIs) segment. Company overview and financial performance Ventive Hospitality is a joint venture between US-based Blackstone Group and Panchshil Realty, operating as a hospitality asset owner focusing on luxury offerings across India and the Maldives. The company’s partnerships with renowned brands like JW Marriott, Hilton, and The Ritz-Carlton, as well as marquee tenants such as HSBC, Deutsche Bank, and Starbucks, underline its strong market presence. The company generated approximately 41 percent of its revenue from annuity assets in the first half of FY25, with significant contributions from leased properties. However, Ventive Hospitality reported a net loss of Rs 138 crore for the six months ending September 30, 2024, on a revenue of Rs 876 crore, primarily due to recent acquisitions. For FY24, the company posted a net loss of Rs 67 crore with a revenue of Rs 1,907 crore. Key risks and outlook Ventive Hospitality’s geographic concentration, with six of its 11 hospitality assets in Pune and three in the Maldives, poses risks to its business in the event of negative developments in these locations. Additionally, the hospitality sector’s cyclical nature makes it susceptible to macroeconomic factors. The company plans to use Rs 1,400 crore of the IPO proceeds to repay debt, which is expected to reduce finance costs and improve profitability. Despite near-term challenges, its strategic partnerships, robust annuity revenue stream, and focus on debt reduction position it for long-term growth.
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2024-12-30 10:21
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2024-12-30
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10:21
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moneycontrol.com
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https://www.moneycontrol.com/news/india/punjab-bandh-today-road-rail-services-hit-emergency-services-to-remain-open-12899912.html
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Punjab Bandh today: Road, Rail services hit, emergency services to remain open
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Farmers block a road during the statewide 'bandh' called as part their ongoing protest, in Amritsar on Monday. (Image: PTI).Related stories.
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Punjab is preparing for a statewide bandh today as farmers intensify their protests over unresolved demands. They have blocked the roads at many places across the state, resulting in traffic disruption. The agitation, which has drawn the Supreme Court’s attention, continues to intensify, with the state government attempting to negotiate with fasting farmer leader Jagjit Singh Dallewal but failing to make any progress. Dallewal has been on a hunger strike for over a month as part of a protest organized by the Kisan Mazdoor Morcha (KMM) and the Samyukta Kisan Morcha (SKM), a non-political group. They have been camped at Shambhu and Khanauri on the Punjab-Haryana border since February 13 of this year. The farmers are demanding several things, including a legal guarantee for minimum support price (MSP). Despite repeated attempts, the Punjab government has not succeeded in breaking the impasse. A team deputed by the Punjab government on Sunday made attempts to persuade Dallewal to take medical aid, but he declined and feared that force may be used to evict him from the protest site, reported PTI. With 70-year-old Dallewal's indefinite hunger strike entering its 34th day on Sunday, farmer leaders at Khanauri said they have been following the Gandhian way to continue their protest, and it is up to the government to decide whether it wants to use force to evict their senior leader. On Friday, the Supreme Court, currently hearing a related matter, indicated that it is closely monitoring the situation in Punjab and said that there was an "impression" that the Punjab government was 'not doing enough to save Dallewal's life'. While the court has urged dialogue and resolution, tensions on the ground remain high. Farmer leader Sarwan Singh Pandher on Sunday, said though there will be a complete bandh, emergency services will be allowed to operate. "The bandh will be observed from 7 am to 4 pm. However, emergency services will remain operational. Anyone travelling to the airport to catch a flight or anyone going to attend a job interview, or anyone needs to attend a wedding... all these things have been kept out of our bandh call," he told PTI. Over 150 trains, including Vande Bharat, were cancelled for Monday, and all educational institutes are to remain closed. The Punjab government has reiterated its commitment to addressing the farmers' concerns but has called for patience and cooperation to resolve the crisis amicably. However, with no headway in talks and the bandh in full swing, the standoff appears over. An Indian Express report citing a government functionary said, “As of now, there is no headway. Dallewal is adamant, that he does not want to break his fast until the Centre agrees to the farmers’ demands, the foremost being a legal guarantee for MSP on all crops and the waiver of debts of farmers.”
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2024-12-30 10:14
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2024-12-30
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10:14
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moneycontrol.com
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https://www.moneycontrol.com/news/business/ipo/senores-pharmaceuticals-ipo-listing-bonanza-shares-debut-at-53-premium-on-bse-nse-12899875.html
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Senores Pharmaceuticals IPO listing bonanza: shares debut at 53% premium on BSE, NSE
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Senores Pharma IPO, priced in the range of Rs 372-391 per share, closed on December 24, with huge demand from institutional and retail investors, setting high expectations for listing gains..Related stories.
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Senores Pharmaceuticals shares made a robust stock market debut today as expected, listing at Rs 600 on the NSE, marking a premium of over 53 percent over the IPO price of Rs 391 per share. The strong listing reflects the overwhelming demand seen during the IPO, which was subscribed 93.41 times. Senores Pharmaceuticals IPO highlights Ahmedabad-basedSenores Pharmaceuticalsraised Rs 582.11 crore through its IPO, which comprised a fresh issue of Rs 500 crore and an offer-for-sale of Rs 82.11 crore. The IPO, priced in the range of Rs 372-391 per share, closed on December 24, with huge demand from institutional and retail investors. The qualified institutional buyers (QIBs) segment received 94.66 times subscription, while non-institutional investors (NIIs) and retail individual investors (RIIs) subscribed 96.11 times and 89.2 times their respective quotas. Strong investor interest in Senores Pharmaceuticals shares Grey market trends leading up to the listing had signalled a debut price in the Rs 600-700 range, representing a significant premium of 50-70 percent over the IPO price. Analysts said that the IPO’s attractive valuations and Senores Pharmaceuticals’ strong operational performance were key factors driving investor interest across categories, a trend they expect to continue post-listing. Senores Pharmaceuticals growth outlook Senores Pharmaceuticals specialises in underserved and complex pharmaceutical products, which positions it well to capitalise on niche market opportunities. Senores Pharmaceuticals reported a strong operational performance for FY24, with a 457 percent revenue increase and a 288 percent rise in profit after tax. With a significant 457 percent jump in revenue for FY24 and plans to expand its specialty product portfolio, the company is well-placed for sustained growth. Analysts remain optimistic about its long-term potential but recommend closely monitoring its financial performance in the upcoming quarters.
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2024-12-30 10:13
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2024-12-30
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10:13
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moneycontrol.com
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https://www.moneycontrol.com/news/opinion/manmohan-singh-a-gentle-colossus-12899751.html
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Manmohan Singh: A gentle colossus
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Manmohan Singh's reputation as soft-spoken bureaucrat far removed from the hurly-burly of politics actually served him well during those turbulent times..Related stories.
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By Ashis Ray A billion words would have appeared on media worldwide about Manmohan Singh since his passing. What can one supplement to it that wouldn’t be repetitive? ‘My father was born (in his maternal grandparents’ home in a village called Gah, now in Pakistan) in the autumn of 1932, no one really knows exactly when,’ Singh’s daughter Daman wrote in a biography of her parents,Strictly Personal: Manmohan Gursharan. Tragically, his mother Amrit Kaur died of typhoid when he was still a child. Thus, he returned to Gah to be brought up there. When Kiki, another daughter, asked Singh if he wished to go back to see Gah, he replied, ‘No, not really. That is where my grandfather was killed (in communal riots at the time of partition).’ He bore the grief with characteristic silence, never publicly expressing hatred of the killers. It was an inherent Gandhian trait. He told Daman he was quite devastated when the Mahatma was assassinated. ‘I certainly felt very sad when Gandhiji was killed. I felt a personal loss,’ he said. In 1955, he was admitted to St John’s College, Cambridge, where he secured a first in taking a Tripos in economics and won the Adam Smith prize with an essay on international investment and economic development. As an economist, he saw himself as a Keynesian, but with a deep admiration for the monetarist Dennis Robertson. One of his professors, the eminent Joan Robinson, said of him: ‘I do not think you are likely to find anyone better in this generation of undergraduates.’ In 1960, now married to Gursharan Kaur, he returned to England, this time to Nuffield College, Oxford for a PhD onIndia’s Export Trends and the Prospects for Self-sustained Growth. He, then, accepted a position at the United Nations Conference on Trade and Development (UNCTAD) in New York. And thereafter, served as secretary-general of the South Commission in Geneva. Heralding a new era Confabulations with his party colleagues convinced P V Nararasimha Rao – as he prepared to become prime minister in the summer of 1991 - that he needed a specialist as finance minister to overcome the unprecedented balance of payment crisis he was about to inherit. He selected Singh, a brilliant economist and reputedly a man of irreproachable integrity. Singh later told Daman that Rao wanted ‘that we should undertake liberalisation, but also take care of the marginalized sections, the poor’. But she recalled in the book on her parents: ‘He (Manmohan) was accused of being a traitor to the nation and selling out the country, being the IMF’s lackey and the World Bank’s dog. Singh, on the other hand, underlined, ‘I think people were convinced that a great experiment for change was underway … At that time I also felt a sense of national mission.’ His prescription, landmark economic reforms, forthwith disarmed market-oriented countries from East to West; nations who had been hostile and unhelpful to India for the greater part of the Cold War. It surprised many that Singh embraced monetarism. A glimpse of his thinking, though, can be found in his PhD thesis, which is, in fact, a critique of India’s inward-oriented trade policies. An Indian PM with a deep understanding of global issues Later, the world marvelled at Singh as prime minister achieving high GDP growth – unparalleled in independent India’s history – and his ability to lift hundreds of millions out of poverty. There was even talk among authoritative western analysts about India going past China as an economic power sooner than projected. In 2008-2009, the world was gripped by a crippling financial crisis. At a dinner at Downing Street the night before the London G20 summit in April 2009, world leaders implored Singh to speak. His thoughts expressed therein and at the conference itself were dutifully incorporated in the communique. Numerous countries acted on his recommendations and obtained positive results. A year later, at the following G20 meet in Toronto, United States President Barack Obama stated, ‘The extraordinary leadership Prime Minister Singh has provided not just to India, but to the world, has helped us navigate through some very difficult times. And I can tell you that here at the G20 when Prime Minister speaks, people listen, particularly because of his deep knowledge of economic issues.’ No Indian prime minister, other than Jawaharlal Nehru, has been appreciated abroad with such awe and admiration. Singh’s student and professional years abroad rendered him an exposure to international affairs, which he imbibed with typical taciturnity, but with a studied absorption. Consequently, his understanding of external affairs was possibly second only to his expertise on economics. Overseeing India’s strategic pivot He succeeded in maintaining a lid over troublesome China. Even the villain of Kargil, General Pervez Musharraf, melted to the extent of Pakistan under him abandoning its historically hard-line position on Kashmir and proposing a peace. As Singh's special envoy on the matter, Ambassador Satinder Lambah recorded, a draft agreement ‘had been approved and was ready for signature’. To cap it all, he terminated the world’s treatment of India as a pariah in the realm of nuclear cooperation with a path-breaking agreement with US President George Bush in 2008. This not merely paved the way for international recognition of India as a nuclear power; but removed control over exports to India by the 48-nation Nuclear Suppliers Group, even overcoming initial Chinese objection. Quoting Victor Hugo in presenting his game-changing proposals in parliament in July 1991, he said, ‘No power on earth can stop an idea whose time has come.’ He then drove home, 'I suggest to this august House that the emergence of India as a major economic power in the world happens to be one such idea. Let the whole world hear it loud and clear. India is now wide awake. We shall prevail. We shall overcome.’ In terms of economic development, he was indisputably India’s greatest prime minister. (Ashis Ray is the longest serving Indian foreign correspondent, having worked in this capacity for 47 years, mainly for BBC and CNN. Lately an academic visitor at Oxford, he is the author of a thesis on Indian history – ‘The Trial that Shook Britain’.) Views are personal and do not represent the stand of this publication.
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2024-12-30 10:12
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2024-12-30
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10:12
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moneycontrol.com
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https://www.moneycontrol.com/news/india/shivling-under-cm-yogi-s-residence-claims-akhilesh-amid-excavation-row-in-sambhal-12899898.html
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Shivling under CM Yogi's residence, claims Akhilesh amid excavation row in Sambhal
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People of Uttar Pradesh wants to overthrow the BJP government and are awaiting elections, says SP chief..Related stories.
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Samajwadi Party (SP) chiefAkhilesh Yadavclaimed that a Shivling is buried beneath the official residence of the Uttar Pradesh (UP) Chief Minister in Lucknow. He suggested that the site should be excavated to reveal this alleged religious structure. “There is a Shivling under the Chief Minister’s residence in Lucknow. It should also be excavated,” Yadav told reporters in Lucknow. The statement comes amid a rising political face-off over recent surveys sought in Uttar Pradesh, mostly around temples and mosques. Last week, a 250-ft-deep stepwell, dating back to the era of the 1857 revolt, was unearthed during a survey in Uttar Pradesh’s Sambhal. The stepwell was found after two bulldozers were involved in excavation at the site in the Laxman Ganj area of the town. The SP and the Congress have continuously alleged that the BJP was using such surveys to create division in society for political gains and to distract the masses from core issues, including unemployment and the agrarian crisis. Yadav, while speaking to reporters, said that the people of Uttar Pradesh wanted to overthrow the BJP government and were awaiting elections. “People are angry with the government on all counts. Be it law and order, education, farmers’ issues, and women’s safety. The coming times in U.P. will be the phase of change. The public has made up their minds,” Yadav told reporters. Yadav said there is no development but destruction under the present regime. The former chief minister said the BJP government is making Uttar Pradesh number one in borrowing and debt. Escalating his attack, Yadav said the treasury has been emptied. Speaking to reporters at Dr Ram Manohar Lohia auditorium at the party office, the Samajwadi Party chief accused the government of cheating the farmers. ”Has the income of farmers doubled?” he asked. Yadav said the ”houses of innocent people are being demolished illegally by bulldozers. This is not development but destruction. There is no line of development in the hands of the chief minister, there is a line of destruction (’mukhyamantree jee ke haath mein vikaas kee rekha nahin hai, vinaash kee rekha hai’),” he said, according to a statement issued by the Samajwadi Party. Yadav said the BJP government has not done any development work. ”Inflation, unemployment and corruption are at their peak. Farmers, youth, everyone is unhappy,” he added. The former chief minister said the BJP government is getting excavation done at various places to hide its failure and to divert attention from the issues related to the public. The SP chief said the government is claiming through advertisements that it is acquiring 1.5 lakh acres of land for the investors. ”The government does not have land. Now, the government is hell-bent on ruining the farmers. It wants to acquire 1.5 lakh acres of land. The BJP government is deceiving people by lying in the name of investment,” Yadav said. ”When we go to other countries, we get to learn a lot. Where has the world reached? What are people here entangled in? We hope that in the coming times, the people of Uttar Pradesh will work to bring about change. Once again, we will go on the path of development and prosperity.”
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2024-12-30 10:02
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2024-12-30
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10:02
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moneycontrol.com
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https://www.moneycontrol.com/technology/garena-free-fire-max-redeem-codes-for-december-30-2024-grab-skins-bundles-diamonds-and-more-exciting-rewards-article-12899902.html
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Garena Free Fire MAX redeem codes for December 30, 2024: Grab skins, bundles, diamonds, and more exciting rewards
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Garena Free Fire Max.
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In the exciting world of Free Fire MAX, where players face off in intense battles against global opponents, getting exciting rewards like diamonds, pets, skins, and outfits is a big win. Luckily, redeem codes make it easy for gamers to get these treasures without using real money. Garena Free Fire MAX is a widely acclaimed multiplayer battle royale game developed by 111 Dots Studio, known for its adventure-driven gameplay. By creating a registered account and playing the game, you can enjoy its unique features and benefits. Every day, the developers of Garena Free Fire MAX release a new set of redeem codes, each offering the potential to unlock a range of rewards, from stylish skins to powerful weapons and valuable diamonds. Garena Free Fire MAX Redeem Codes for today, December 30 AYNFFQPXTW9K – Scar Megalodon Alpha + 2170 TokensRDNAFV2KX2CQ – Emote PartyWFYCTK2MYNCK – Destiny Guardian XM8 Evo Gun skinPSFFTXV5FRDK – Pushpa Emote – Hargiz Jhukega Nahi + Gloo Wall – Fire Hai MainFFWCX9TSY2QK – Legendary Aurora Shade Bundle [No.00744 – Region-Exclusive First Edition Code!]FFX9QS2GWT7C – Emote Royale – Slippery Throne emote, Hip Twists emote, and Fancy Hands emoteGSQ4FXV9FRKC – AUG Aurora’s Holler + Backpack Aurora’s Watchfox + Frosty Furry (Facepaint)FY9MFW7KFSNN – Cobra BundleNPCQ2FW7PXN2 – One Punch Man M1887 Gun SkinFYW2FVQ9SZB6 – Black & White T-ShirtFXK2NDY5QSMX – Poker MP40 Flashing SpadeFFHSTP7MXNP2 – Frosty Furry Bundle + Pet Skin Aurora + Loot Box Spirit FoxXF4SWKCH6KY4 – LOL EmoteWFS2Y7NQFV9S – Cobra MP40 Skin + 1450 TokensFFX4QKNFSM9Y – Booyah Captain Bundle + Thompson Cyber Claws Garena Free Fire Max December 30: How to redeem codes Step 1: Go to the redemption website by clicking on this link: https://reward.ff.garena.com/ Step 2: Log in using your credentials from one of the supported platforms like Google, Facebook, Huawei ID, Apple ID, or VK. Step 3: Once logged in, you will be directed to a page where you can input the 12-digit redemption codes. Step 4: After successfully redeeming the codes, claim your rewards from the in-game mail section.
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2024-12-30 10:01
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2024-12-30
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10:01
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/carraro-india-shares-make-disappointing-stock-market-debut-list-at-7-5-discount-12899903.html
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Carraro India shares make disappointing stock market debut, list at 7.5% discount
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Carraro India shares make disappointing stock market debut, list at 7.5% discount.Related stories.
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The shares of Carraro India Ltd made a lacklustre stock market debut on December 30 by listing 7.5% below the IPO price. The shares got listed at Rs 651 apiece on NSE. The IPO sailed through on the third and final day of share sale on December 24, led by qualified institutional buyers (QIBs). The category for retail individual investors (RIIs) got subscribed 71% while the quota for non-institutional investors received 60% subscription. However, the QIB portion got 2.2 times subscription. Carraro India's IPO is completely an offer for sale (OFS) of shares worth Rs 1,250 crore by Carraro International SE, with no fresh issue component, according to the red herring prospectus. Since the entire issue is an OFS, all proceeds from the IPO will go directly to the selling shareholder, rather than the company. Founded in 1997, Carraro India, a subsidiary of Carraro S.p.A, began its manufacturing journey with transmission systems in 1999 and axles in 2000. The company started its operations using IP rights licensed from other entities within the Carraro Group and specialises in complex engineering products and solutions for original equipment manufacturer (OEM) customers. It serves as an independent tier-1 provider, concentrating on axles and transmission systems for agricultural tractors and construction vehicles. Carraro India operates two manufacturing plants in Pune -- one for drivelines and the other for gears. These plants are equipped with advanced technologies for casting, machining, assembly, prototyping, testing, painting, and heat treatment. Its key customers include large domestic and international OEMs. It exports to customers in Asia directly and indirectly, and outside Asia through Carraro Drive Tech Italia.
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2024-12-30 10:00
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2024-12-30
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10:00
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moneycontrol.com
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https://www.moneycontrol.com/news/india/delhi-weather-after-record-rainfall-air-quality-improves-to-moderate-overall-aqi-at-183-12899863.html
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Delhi weather: After record rainfall, air quality improves to 'moderate'; overall AQI at 183
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The city on Sunday recorded a maximum temperature of 18 degrees Celsius, two degrees below normal..Related stories.
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The National Capital's air quality improved to the 'moderate category' on Monday morning, thanks to the record rainfall that affected the city last Friday and Saturday. Around 6 a.m. on Monday, the overall Air Quality Index (AQI) in Delhi was recorded at 183. According to the Central Pollution Control Board (CPCB), the AQI classifications are as follows: 0-50 is considered "good," 51-100 is "satisfactory," 101-200 is "moderate," 201-300 is "poor," 301-400 is "very poor," 401-450 is "severe," and above 450 is classified as "severe plus." Out of the 38 monitoring stations in Delhi listed in the Sameer app, which provides hourly data on the National Air Quality Index, 23 stations' AQIs were moderate. Meanwhile, one station—IHBAS, Dilshad Garden—had an AQI of 95, which is considered satisfactory. According to the Indian Metrological Department (IMD), the city on Sunday recorded a maximum temperature of 18 degrees Celsius, two degrees below normal. The minimum temperature stood at 13 degrees Celsius on Sunday, six notches above the season's average for this time of the month. The 24-hour AQI was recorded at 225 in the 'poor' category at 4 pm on Sunday. On Saturday, the city's AQI was in the 'moderate' category. Delhi records highest single-day December rainfall in 101 years Delhi recorded the highest single-day December rainfall between Friday and Saturday in 101 years. According to the weather department, the city recorded 41.2 mm of rain in the past 24 hours till 8.30 am on Saturday. According to the India Meteorological Department (IMD), the capital experienced its highest-ever rainfall on a single day for December on December 3, 1923, with a record of 75.7 mm. Additionally, the rainfall in December 2024 was noted as the fifth-highest monthly total since records began in 1901, according to an official from the weather department. The IMD attributed the rainfall and thunderstorms over northwest and central India, including Delhi-NCR, to an active western disturbance interacting with easterly winds.
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2024-12-30 09:55
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2024-12-30
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09:55
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/sensex-nifty-slip-as-auto-it-stocks-drag-in-penultimate-session-of-2024-india-vix-up-3-12899843.html
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Sensex, Nifty slip as auto, IT stocks drag in penultimate session of 2024; India VIX up 3%
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Trent, BPCL, Titan Company, ONGC and M&M were the major laggards..Related stories.
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Benchmark indices Nifty and Sensex opened on a subdued note, slipping in the penultimate trading session of the year on December 30 after a strong close in the session before. While FMCG stocks provided some support, IT and auto counters weighed on sentiment. As the final week of the year unfolds, market activity remains muted, with investors tying up their books amid the festive lull. India VIX, the barometer to assess market anxiety flared up 3 percent to inch closer to the 14 level. At about 9:45 am, the Sensex was down 200.50 points or 0.25 percent at 78,498.57, and the Nifty was down 68.55 points or 0.29 percent at 23,744.85. About 1234 shares advanced, 1953 shares declined, and 172 shares unchanged. Follow our LIVE blog for all the latest market updates "With no significant triggers in the near term, markets will likely remain range-bound. Pre-quarterly business updates to be released in the first week of Jan’25 will provide insights into the upcoming result season and will be keenly tracked by the markets," Siddhartha Khemka, Head of Research and Wealth Management at Motilal Oswal said. Market experts also suggest that any negative earnings surprises could lead to heightened volatility. Risks to the market include inflation, particularly in agriculture, and further depreciation of the rupee against the dollar, which could drive FII selling and create additional pressure on equities. Also read:Even while on regulatory radar, BSE SME IPO index surge far outpaces all other benchmarks globally Among sectoral indices, the Nifty Auto index slipped lower to snap its two-day gaining streak. Major names such as M&M, Maruti Suzuki, and Tata Motors dragged the index lower. IT stocks plunged as Infosys, HCL Tech, TCS and Wipro dragged the index lower. The metal and Oil and Gas sectors also plunged 0.5 percent each. On the other hand, gainers included FMCG, Pharma and Realty. The realty index witnessed buying interest following two consecutive sessions of decline. The broader market displayed heightened volatility. While the midcap index ended 0.3 percent lower, the smallcap index slipped almost 0.5 percent. Some experts say that mid and small-cap segments are fundamentally strong, and with consistent earnings improvement, they could likely outperform large caps in 2025. Among stocks, JSW Energy sparkled in trade with gains of 6 percent. This comes after a wholly-owned subsidiary of the firm, JSW Neo Energy, signed a definitive agreement to acquire O2 Power, a renewable energy platform jointly established by Swedish asset manager EQT Partners and Singapore’s Temasek Holdings. Brokerages were bullish on this acquisition, as it bolstered the energy player's growth outlook. Read more:Uday Kotak says India Inc must 'go for growth' to fire up animal spirits, in year-end musing Shares of Vodafone Idea Ltd. surged 7 percent after the debt-laden telecom operator announced that the Department of Telecommunications (DoT) has waived the requirement for financial bank guarantees on spectrum acquired through auctions, as per its December 27, 2024 communication. Zinka Logistics Solutions shares declined by 2 percent after Morgan Stanley gave an underperform rating with a target price of Rs 450 per share. This indicates a downside potential of around 16 percent from the previous session's closing price. While the brokerage recognizes Zinka's niche position and strong competitive advantages in a fragmented market, it believes the stock's recent rally, which is up 105 percent since its November 2024 listing. "As we approach the end of the calendar year, consolidation is likely to persist for the next few sessions. A decisive breakout from the recent trading range would be required to trigger a trending move," Sameet Chawan, Head of Technical and Derivative Research at Angel One said. "On the downside, the zone around 23,600–23,500, aligning with last Friday’s low, acts as a critical support level. A breach below this range could reignite the downtrend, potentially driving prices towards 23,300–23,200. Conversely, resistance levels are seen at regular intervals, with 200-day SMA at 23900 and a psychological mark of 24,000 serving as immediate hurdles." he added. Adani Enterprises, Adani Ports, Apollo Hospitals, Bharti Airtel and ITC were the top gainers on the Nifty. Trent, BPCL, Titan Company, ONGC and M&M were the major laggards.
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2024-12-30 09:47
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2024-12-30
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09:47
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moneycontrol.com
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https://www.moneycontrol.com/news/business/markets/ola-electric-shares-skid-3-after-slew-of-high-level-exits-continue-cmo-cto-resign-12899866.html
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Ola Electric shares skid 3% after slew of high level exits continue; CMO, CTO resign
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Ola Electric have fallen over 12 percent in the past three months..Related stories.
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Shares of Ola Electric Mobility came under fire on December 30, slipping over 3 percent after the slew of high level exits in the company continued with the latest resignations of its Chief Marketing Officer and Chief Technology & Product Officer. Anshul Khandelwal, the company's Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology & Product Officer, have stepped down from their roles, effective December 27, citing personal reasons. Both top level executives initially joined Ola's ride-hailing business before transitioning to Ola Electric Mobility. Chatterjee joined Ola in 2017 as Head of Design, while Khandelwal began his journey in March 2018 as Head of Marketing. At 09.28 am, shares ofOla Electric Mobilitywere trading at Rs 87.44 on the NSE. Follow our market blog to catch all the live action Ola has been making the headlines for a series of high-profile exits in recent months across its various business verticals. Prior to the latest exits, N Balachandar, Group Chief People Officer, departed in November 2024 after overseeing HR for Ola Electric, Ola Cabs, and Krutrim AI. In October, Ravi Jain, Business Head of Krutrim AI, and Sidharth Shakdher, CBO of Ola Mobility, left the company, with Shakdher moving to Paytm after spearheading key initiatives during his nine-month stint. Ola Electric's VP and Head of Sales, Mahesh Alanthat, also resigned in October, while Ola Cabs CFO Kartik Gupta stepped down in May after a brief tenure. Early in 2024, Ola Cabs CEO Hemant Bakshi exited just three months into his role, prompting founder Bhavish Aggarwal to retake leadership. These departures have raised concerns over retention of senior talent in the Bhavish Aggarwal-led group, dampening investor sentiment.
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2024-12-30 09:37
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2024-12-30
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09:37
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