5 Minutes Read

Why we are obsessed with money

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Everything that we are doing in life is centred around money.

What a way to exist!

For most of us, practically the whole day all we are thinking is about money and more specifically how to have more money!

As if money was the only thing in life. Unfortunately for most of us, circumstances just do not permit any other thought!

We are running behind money most of the time which is almost akin to have become obsessed with money. Everything that we are doing in life is centred around money.

Unfortunately, this is because we need money for anything and everything that we do. There’s nothing wrong and what are you doing, however the problem is that over time, it becomes a compulsive habit to keep earning more.

That’s where the danger is. The problem is that there is a point where from we chase money as an addiction, we chase money because we like to do so. If we did not chase money we would not know what to chase now because we get out identity from money and the amount of money we have.

Another thing is that right from childhood we are always taught and our minds are conditioned that everything that we are doing is going to be for the sake of earning money.

There is no one who told you that money is just a means, and then there is something greater in life to achieve. Some examples are legacy; building something, charity; to giving something / helping someone, passion; pursuing something and living; simply to enjoy life and your money

We have got addicted to this and how!

There are three reasons for this:

First, we are what we do. It is the human behaviour. I know I should exercise and I don’t. I know I should eat healthy and I don’t. I know I should spend time with my kids and I don’t. I know that, yes, money isn’t going to make me happy and I still keep trying to make money.

We live by the laws of inertia, in a pattern which is hard to break. But we have to break it. For ourselves and for the sake of people and reasons for which we are chasing money.

Secondly, we need signals of progress. Money is a measure of how far you have progressed in life. The more the money you have the more you can make sure your progress. It’s simply the logic of evolution. People need validation of their success. Bigger house, bigger car, branded goods and list goes on.

Thirdly, it’s the easy way out. It’s only human to avoid difficult things. Important things are very difficult to measure.  Have I been a good father or husband? Have I groomed my child well?  Such things take years to measure and we still don’t have answers.

So, should we not be focused on creating money for ourselves?

I’m not saying that. Definitely create. Take care of yourself for sure!! Use it to the maximum to make yourself happy!!! You need a certain amount and beyond that is extra.

The definition of their certain amount is naturally different from one person to another. If that extra is going to happen easily, without stress and without your involvement, then its fine. Basically don’t kill yourself for that extra. Be Smart.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a certified financial planner, wealth manager and financial freedom coach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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How the RBI actually helps you

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Most of us in Mumbai, see this huge structure called the Reserve Bank of India and wonder what it really does. It’s also a tourist attraction!! It has so many other offices and again one wonders why they need to have so many offices. I’m going to try and highlight a very interesting part of …

Most of us in Mumbai, see this huge structure called the Reserve Bank of India and wonder what it really does. It’s also a tourist attraction!! It has so many other offices and again one wonders why they need to have so many offices. I’m going to try and highlight a very interesting part of RBI’s work and how it helps us directly on a day-to-day basis.

The RBI does a review of the monetary policy of the country at frequent intervals during the year. So how does the monetary policy help us investors to take smart decisions?

Monetary policy is a tool by which the RBI decides to raise interest rates or reduce interest rates or keep them steady.

In our country, as we’re an oil importing nation, this decision is very closely linked to Oil. Oil to a large extent contributes to inflation. We all know what happens when inflation keeps rising. We in India unfortunately do not see too much of inflation falling and things becoming cheaper.

Oil is Not Well

So when oil prices rise i.e. we see a rise in crude oil prices almost instantly we can expect rising food prices. This is because there is going to be a rising cost pressure for manufacturing & services. This rise obviously gets passed onto the retail consumers.

When this happens RBI adopts a hawkish stance, tries to pull money out of the system by raising interest rates. Now when interest rates rise no one seems to be interested in borrowing. This immediately puts a brakes on money circulation.  Less money chasing goods decreases the demand for money. This way it controls inflation.

There is yet another tool that the RBI has and that is known as the CRR or the cash reserve ratio.  This ratio in simple words means the amount of cash that the bank must maintain with the RBI as the percentage of the total assets. So when this increases banks are forced to park more with the RBI and this is also a way to control inflation.

On the other hand when things look dull, when there is a recession of sorts, the RBI comes to the rescue and gets into action to kickstart growth in the country. It does this by lowering the interest rates. This we all will understand quite easily because we see a direct benefit of this happening. We see a fall of interest outgo in our EMI’s for the home loan that we are carrying. New loans become cheaper.

Individuals are motivated to go out and make purchases, whether it is for a washing machine or a piece of real estate. Businesses are motivated to go out and borrow to buy more machinery, to expand capacity, to hire more staff and manpower and basically do everything that will add to the growth of business.

Economic growth results as a result of all this. It is also during this time that stock market rises, we see a rally in stock prices and mutual fund NAV’s jumping higher and higher each day. There is prosperity all around.

Critical Role

As you can see that the central bank of the country has a very very important role to play.  If it makes a mistake, things can go really wrong.  Imagine like the USA or Japan if our interest rates were very low; everyone would run to borrow, they would borrow more than they require because it would be cheap and easy to borrow. And that is very individuals would run into what is known as the debt trap, because someday you’ll have to pay back.

Each day the central bank attempts to make sure that everything in our country remains stable and financially there’s nothing that goes wrong dramatically.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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The year of the bond, once again!

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Whenever we see discontent among depositors of fixed deposits, the bond markets come to the rescue.

We are not talking of James Bond, we are talking of investment bonds.

We are in a situation where the fixed deposit rates are at a general low and there is a lot of discontent among depositors of fixed deposits.

Whenever we see a situation like this, one way or the other, the bond markets come to the rescue. It comes to the rescue of smart depositors, who are agile to move their money from fixed deposits to bond funds.

Let’s understand what is happening and why.

What Exactly is Happening in the Bond Markets?

It is likely that in this year, investors of bond funds will make handsome gains. Bond prices may rise and there may be capital gains. Investors of bond funds not only earn the rate of interest, but also earn capital gains. So that way, they make more than the return they would make on fixed deposits. The returns could be a high single digit or sometimes as high as double digits.

Over three years, this will become practically tax free or the tax would be a very small amount. So, basically, I am thinking that a rally will happen in the bond market. There are three main reasons for this — reduction in government borrowing (which is favourable), recovery of trading losses (which is favourable) and no change in monetary policy (which is neutral).

A word of caution, however, that such bond market investments are also subject to bond-market volatility and should be considered ideally with the help of a financial expert.

Before proceeding further, let us, therefore, quickly explain a bond, bond fund and bond market. We need to do this because few people understand the bond markets and even fewer invest in the bond markets.

Bond is nothing, but a commercial transaction where the borrower is issuing a bond to the lender and the lender will earn a certain rate of interest. When interest rates fall, everyone becomes interested in owning that bond.

As a result, the demand for the bond increases, the price of the bond increases and the bondholder makes capital gains.

A bond fund is a fund where ordinary investors pool in their money and a fund manager buys them a portfolio of bonds.

Moving onto the Reasons For a Rally in Bond Funds…

Now, the fundamental reason for a rally is reduction in interest rates as it stimulates economy and growth.

Firstly, the government is a massive borrower of funds. So a reduction in government borrowing reduces the demand for money in the economy. As a result, prices of bonds rise and this contributes to capital gains for bond holders.

Secondly, the Reserve Bank of India (RBI) recently announced that the commercial banks and RBI, which are the largest lenders to the government, will have another year to offset losses they have incurred on account of buying government bonds in the past. This action will lead to a rise in the price of bonds and this contributes to capital gains for bond holders.

Lastly, on one side due to the rise in oil prices, there is more inflation and thus more money is needed for circulation in the economy. On the other side, many government bonds are maturing, which will provide money supply. So, it is likely that we see a neutralising effect and thus RBI will take no action. This inaction here will support capital gains as explained above. Hence, this year might be a year of good gains for the bond investors.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Five new financial goals for you this summer

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

April and May are great months to get a lot of things started, financially speaking. Here is a guide.

I am going to try and explain to you why the summer holidays of April and May are great months to get a lot of things started, financially speaking.

This time period in a way resets the financial clock. You also have the option to hit the reset button on everything you have done so far; financially speaking of course and hope to do better things better than you did last year.

Let’s look at some of the new and unusual things to do in April.

  • Make a learning budget

Learn something about money or anything you like. The best way to make money is to learn something about money. Just like if you wanted to learn cooking you will get into the cooking class. If you wanted to learn swimming you would enrol in the swimming class. If you find learning about money is too daunting task than learn something which is close at to your heart or related to your work. If you learn something new, there’s a possibility that you will use your new ideas to generate new income and in turn that will generate new wealth for you.  So make a budget, enrol somewhere and spend that budget. How about a % of your annual income? Spend it for sure!

  • Plan a unique holiday 

When you’re by yourself and without your mobile phone you will have the opportunity to think! When you have time to think, suddenly good ideas will come to your mind.  You may think this is silly but you can be sure that you will be amazed if your drivers experiment just once. So it might be a good idea to go for a holiday just by yourself. If you find that too intimidating, join a group of strangers. You can combine that with the adventures experience if you like.  Be extra careful if you’re going with your special buddies. Do this only if they are going to be in a position to help you discuss your idea and make it bigger. They must play the role of complimenting your thoughts. So make a schedule to do this holiday and obviously make a budget to make it happen. Think & create new ways of making wealth.

  • Make a prediction and make it happen

Be brave. Let’s aim to grow and multiply net worth by 50% by the time you come to the end of this financial year. This is not a joke and it is easier than you can imagine.  I’m speaking about NETWORTH and I’m not talking about return on investment. If your networth is Rs. 100 today, all I’m saying is that let’s aim to make this a 150 by the end of this year. This networth comprises of all your savings till date. This can be achieved by simply saving aggressively every month for the next twelve months. Just put this into a recurring deposit or liquid fund so you don’t spend it.  We just have to prove to ourselves that this is possible. Where and how we will invest this money will think about that later.

  • Eliminate a negative belief 

I want to give you an exercise here. Write down all your negative beliefs you have about money and wealth. Most people are not able to achieve the desired level of wealth because they think about wealth negatively. So even if you are earning a good amount of income you will never see yourself becoming wealthy. Examples are money causes problems, money causes a fight, managing money is complicated etc. Then for each negative thought, you have written down the positives i.e. the opposite for a few months. Soon negatively biased feelings will evaporate.

  • Make a new investment; something you have not done before

Again here you do not have to be a financial expert. The idea is to learn something new. There are hundreds of investment options. Our objective here is to learn something new. Talk to your advisor and seek his or her guidance. Just a word of caution here; don’t do anything which is speculative or is something that you just can’t understand. Do what do find easy you understand and do that then.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Seeking financial freedom? The time is NOW!

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The important thing to understand is that your money needs action.

John Lewis famously remarked, “If not now, then when? If not us, then who?” This is so appropriate in the current financial world that we live in.

That statement will leave to rest every other argument that is conservative and against the idea of wealth creation. We are often faced with the situation where there is no option but to create wealth. Read on to know why!

Interest rates are painfully low. For all those diehard fans of guaranteed investment returns, there’s hardly any place to go to. Thinking of fixed deposits? Feeling happy with 7%? And fully taxable? That period is over. Period.

That doctrine of investing into pure fixed deposits and similar instruments is unfortunately standing challenged. There is no option but to sprinkle it with a combination of a little something that will add to the returns earned from fixed income type of securities. In fact this category of investors are in a way, best placed in terms of the current tax laws.

They can earn about 9-10% with minimal or near zero tax over about five years and more. Starting to generate rate of return above the inflation level of 7% is starting to create wealth. So there it is; there is no option but to move in the direction of creating wealth.

For more evolved investors, who invest in equities and who and still sitting on the sidelines tend to run out of patience every now and then. They are sometimes waiting for the right time, sometimes waiting for correction, sometimes waiting for valuation and sometimes waiting for just nothing. Sometimes, just too busy to take action!

I totally understand not wanting to lose hard-earned money. But if the money does not move it will stagnate. That’s the problem with money.

Hit the Ground Running

Inaction and inactivity kills it. Makes it costly to hold. Makes us lose opportunities, sometimes small and sometimes significant. I know of many people including my dad, who just kept investing into equities and holding forever. No doubt they were hugely (big HUGELY) better off then the people in the same time zone. I think they could have done far better with some smart lessons on asset allocation. This is because if they compare the growth rate of their holding over a period of 20 or maybe 30 years the compounded rate of return earned is often not impressive.

It is just marginally better or a few percentage points above the fixed deposit rate. Hence the need for asset allocation, which simply put is not to have all eggs in one basket at any given point in time. These sections of investors anyways create wealth, and, asset allocation is the tool that ensures that the process of wealth creation continues uninterrupted. So again there it is; even for this section there is not option but to start enhancing their wealth creation activities, else returns will continue to remain forever mediocre.

Then there are skeptics and there is nothing much for skeptics of everything, except that they need a serious dose of financial education. Perhaps what if needed is a proof of concept and for that, which better country to live in other than India where financial transparency in investments is so high that I sometimes feel, it comes from another planet.

 Your Money Needs Action

Today, there is a whole lot of variety to choose from and we have never been more spoilt for choice. But the most important thing in all this is to understand that your money needs action. It needs activity and for that the time is now!

And furthermore, if you asked me this question 10 years ago; I would have said that, the Time is NOW. If you ask this question 10 years hence, I will still say the Time is NOW. Any time is the right time to start the process of creating wealth. All that is important is that you take your first step; then continue it all the way with zeal and determination… till you have the level of wealth that you desire. And if you accumulate more than you need, still do it and share it with the world.

If you want your financial freedom; then the Time is NOW!

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager and Financial Freedom Coach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
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What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Young Turks: Here’s the success story of venture fund Aspada

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Venture fund Aspada was co-founded by Kartik Srivatsa and Thomas Hyland in 2012 and has made 17 investments so far across Fin-tech, agriculture, health and edu-tech startups. Young Turks takes a look at their investment thesis, their differentiated VC model and meet three of their portfolio companies – Capital Float that underwrites unsecured loans to …

Venture fund Aspada was co-founded by Kartik Srivatsa and Thomas Hyland in 2012 and has made 17 investments so far across Fin-tech, agriculture, health and edu-tech startups.

Young Turks takes a look at their investment thesis, their differentiated VC model and meet three of their portfolio companies – Capital Float that underwrites unsecured loans to startups and SMEs; Dunzo, a hyper local concierge and delivery player that is also Google’s first direct startup investment in India; WayCool, a Chennai-based agriculture-tech startup.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Stocks To Watch In 2023 | Brokerages mixed on Bajaj Finance due to slow loan growth

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

CNBC-TV18 has compiled a carefully curated list of the top 20 stocks to watch out for in 2023. These stocks are Maruti Suzuki, Apollo Hospitals, Reliance Industries Ltd (RIL), Oil and Natural Gas Corporation (ONGC), Bharti Airtel, LTIMindtree, PVR, Zee Entertainment, Orient Cement, Sagar Cement, Colgate, Container Corporation (CONCOR), HDFC Life, NTPC, Larsen and Toubro (L&T), Bajaj Finance Ltd, IDBI Bank, HDFC Bank, IDFC First Bank and Paytm.

Bajaj Finance will be one of the stocks to watch in 2023 as competition from banks have increased in last two years. The share of personal loans in the banking sector was at 29.3 percent in Q2FY23 when compared to 26.16 percent in Q3FY20.

Bajaj Finance has been talking about their super app launch since last few quarters. So investors need to see whether that comes through in 2023.

Another event to watch for is that RBI is asking large and systematically important NBFCs to convert into banks. How will investors react to this and how it will be taken by the street, needs to be seen.

The Bajaj Finance stock has been an underperformer in 2022 with a decline of 9 percent versus Nifty return of +4.3 percent in CY2022.

This is largely due to the fact that incrementally, they are losing market share, which is evident from the decline in growth rate number which has fallen from 30-35 percent to now about 27 percent on a year on year basis.

Bajaj Finance’s cross sell rate has also declined massively, from 12.9 percent in Q1FY20 to 7.1 percent in Q3FY23. This means, their ability to market more products to existing customers has reduced significantly.

Also Read: Budget 2023 likely to target middle class, gig economy and creating jobs in urban areas

This has also had its impact on the business performance of Bajaj Finance and also indicates increase in churn of customers. Stock’s premium valuation multiple has seen a decline too, which is evident from the fact that price to book value has declined from 10x to now around 6x-7x.

According to rating agency Jefferies, valuations of Bajaj Finance are down to long term average multiples at 27x 12 month forward PE and about 5.6x price to book value. They think the stock is attractive with 26 percent CAGR in PAT over FY23-25 and RoE of 23 percent.

Macquarie on the other hand believes that overall loan growth is healthy at 27 percent year on year, but is below their expectations.

CLSA says that loan growth has slowed despite festive season. Q3 is usually a strong quarter due to festivals.

Brokerages have a target price ranging from Rs 5,275 on the lower side to as high as Rs 7,280 per share.

Also Read: This state-run lender is getting strong loan demand from these two segments

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Budget 2023 needs to be micro-focused on capex and infrastructure spending: USISPF

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Budget 2023 is around the corner and the US-India Strategic Partnership Forum (USISPF) has some key asks from finance minister Nirmala Sitharaman and these include – promoting digital payments, reforms in healthcare and insurance segments and lastly simplifying foreign investments.

Budget 2023 is around the corner and the US-India Strategic Partnership Forum (USISPF) has some key asks from Finance Minister Nirmala Sitharaman and these include — promoting digital payments, reforms in healthcare and insurance segments and lastly simplifying foreign investments.

The Center for Strategic and International Studies (CSIS) recommends expediting settlement of contractual disputes, reducing import tariffs and improving infrastructure for MSMEs for ease of doing business with India.

The government has been taking steps to attract foreign companies to set up manufacturing plants in India — the government has also taken steps to simplify regulations for foreign investors.

Mukesh Aghi, President & CEO of USISPF, believes that India has a significant opportunity to attract foreign investment in the coming years. He notes that the country has the potential to target $100 billion in FDI by 2023 but emphasises the importance of a budget that is “micro-focused” on capex and infrastructure spending in order to achieve this goal.

“India is the chair of the G20, India is the fastest growing economy in the world today and there is a global disruption in supply chain. So that means it is an opportunity for India to target at least $100 billion FDI in this year itself. So that means we need to have a budget which is much more focused on capital investment and infrastructure investment. So what we are looking for is a budget which is lot more focused on growth for the next 10 years,” Aghi said.

Also Read: Budget 2023 | Russell Napier says India should focus on attracting more foreign capital

Arvind Panagariya, the former Vice Chairman of NITI Aayog, notes that India has a great opportunity to capitalise on the “China +1” trend but emphasises the need for more liberalisation in order to make the most of this opportunity.

“China +1 is really a great opportunity for India to capitalise on the changed environment in which virtually all multi-nationals are seeking at least one more destination for their supply chains. So from that perspective, India has to continue to generally open up the economy and so the progress on the free trade agreements is extremely important. So free trade agreements and in general trade liberalisation are key,” Panagariya said.

Anit Mukherjee, an Adjunct Fellow at Wadhwani and the Chair of US-India Policy Studies at CSIS, also sees India as a beacon of stability in a difficult world. However, he cautions that a populist budget in 2023 could undermine this stability and notes that the budget should focus on enabling infrastructure, while providing foreign investors with stability in the taxation and investment regime.

Aghi also emphasised on the need for India to make dispute resolution faster and smoother, as well as making the ease of doing business much easier to match on a global basis.

Also Read: Davos 2023: Foreign investors favour India now, says Invest India MD & CEO Deepak Bagla

Overall, these experts agree that India has a significant opportunity to attract foreign investment and become a hub for alternative supply chains in the coming years. However, they also stress the importance of liberalisation and a focus on infrastructure and ease of doing business in order to achieve this goal.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Healthcare jobs gaining prominence, Bangalore leads job postings in India, reveals Indeed

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Demand for talent in India is elevated across multiple categories. Healthcare allied fields such as dental and nursing have the highest job postings followed by Food services, Construction, rounding off the top 4 sectors in terms of increase in postings, Indeed job site reveals.

Data from job site Indeed, reveals that demand for talent in India is elevated across multiple categories. Indeed’s monthly jobs insights, which shares updates on the labour market between the period of December 1st to December 31st 2022, showed that healthcare allied fields such as dental and nursing have the highest job postings at 30.8 percent. This was followed by Food services (8.8%), Construction (8.3%), rounding off the top 4 sectors in terms of increase in postings.

The data also shows that Bangalore tops the list of cities in job postings, occupying 16.5 percent of the total share. Bangalore is closely followed by Mumbai at 8.23 percent, Pune at 6.33 percent and Chennai at 6.1 percent. Tier 2 cities like Ahmedabad, Coimbatore, Kochi, Jaipur and Mohali totally contribute around 6.9 percent, showcasing the rising demand for talent in tier 2 cities.

Also Read: ChatGPT: Our jobs could be in danger? Not just yet

Sashi Kumar, Head of Sales, Indeed India said, “Despite global uncertainties, we are seeing a growth in several job categories, indicating that hiring in India is positive. Overall job postings as of January also stand at 203 percent above to the pre pandemic baseline of February 2020. If the Union budget focuses on job creation, it will definitely boost the Indian job sector. The first two quarters of 2023 will determine how the jobs landscape will shape up in India.”

Top 10 job categories with highest job postings in December, 2022

S.No Job category % of Job Postings 
1 Dental 17.9
2 Nursing 12.9
3 Food Services 8.8
4 Construction 8.2
5 Civil Engineering 8.2
6 Architecture 7.2
7 Education 7.1
8 Therapy 6.3
9 Marketing 6.1
10 Media 5.8

The relative resurgence of business normalcy in a post pandemic world has brought buoyancy back in sectors like construction and civil engineering. Even sectors like marketing, which was one of the earliest to see layoffs during the pandemic, has picked up steam.

In the last year, brands have realized the need for marketing for enhanced customer experience as well as business and sales leading to the increase in demand.

Interestingly, therapy has appeared amongst the top 10 job categories with the highest posting. In the last two years, there has been a movement to address issues like stress, burnout and mental health at work which is highlighted in the demand for therapy roles.

US remains highest in cross border search 

Cross border search for Indians is the highest for US job postings, with over 39.29 percent of searches by users in India looking for jobs abroad being for the US. This is followed by Canada at 17.23 percent, Great Britain at 14.34 percent, and United Arab Emirates at 13.79 percent. This shows that due to the easing of travel restrictions associated with COVID 19 and the reopening of several economic sectors, there has been a significant uptick in the number of people searching for jobs abroad.

The most popular countries being the United States, Canada and UK also suggests that while better pay and working conditions, improved standard of living and work-life balance are important, a shared language also influences where people want to work.

Also Read: Can AI take your jobs away? Upskilling is the only way, say top HR executives

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Budget 2023 may provide emphasis on circular economy, renewable and recycling, says expert

STARTUP DIGEST: Top startup stories of the day

Previous budgets have put India firmly on a path to low carbon development, but budget 2023 comes at a time when we are falling behind on our first green goal of installing 175 gigawatt of renewable capacity by 2022.

So, will budget 2023 propel India into the future as an economic and green powerhouse? Can it this time make a deeper push into the green? In an interview to CNBC-TV18, Nitin Gupta, Co-Founder and CEO of Attero Recycling said he expects budget 2023 to provide a lot of emphasis on circular economy, renewable power and recycling.

Also Read: Budget 2023 — Awaiting a deeper policy push into green energy and environment

“Given the fact that India has taken a very aggressive target for carbon neutrality and aims to achieve it by 2070, we expect this budget will place a lot of emphasis on carbon technologies or climate change directly or indirectly. So we expect a lot of emphasis on circular economy, renewable power and recycling. We also expect recycling sector to be declared as priority lending sector. There is likely to be an announcement on PLI scheme for Lithium Ion Battery recycling. So those are some of the things that we expect from this budget,” Gupta said.

Also, Jayanti Bhattacharya, Co-Founder at India Hemp & Co spoke about the journey and road ahead for the company.

Watch video for more.

 5 Minutes Read

Budget 2023 | Plastic makers’ wish lower import duties, & reduce threshold for PLI schemes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

As the plastic processing industry limps back after being hit by the pandemic, rising raw material costs, and falling demand, all hopes are pinned on the upcoming union budget. CNBC-TV18’s Shilpa Ranipeta reports from Dadra & Silvassa that measures to boost local manufacturing and make exports competitive top the industry’s wish list this year.  

As the plastic processing industry limps back after being hit by the pandemic, rising raw material costs, and falling demand, all hopes are pinned on the upcoming Union Budget 2023.

Vivek Daga, director at Sarvottam Polymers in Dadra, said he has never seen demand fall like it has this year. His company, which makes plastic items and packaging materials for companies such as Dmart, Godrej Consumer, and Plum, said orders, especially for household items, have fallen significantly in the past year, forcing them to run at just 40-60 percent capacity. A ban on single-use plastic has only made matters worse.

Adding to rising costs and low demand, an influx of cheap imports from countries like China is also hurting the domestic market. The industry said increasing the import duty on value-added products to at least 20 percent will help boost local manufacturing.

Read Here | Budget 2023 | Toy makers wish more sops, lower logistics cost & lower drawback rates

Exports of plastics have slipped amid tough macroeconomic conditions. According to data from The Plastic Export Promotion Council, the export of plastics in the April-November 2022 period fell 6.7 percent year-on-year to $8,178 million.

To boost exports, the industry hopes the government will reduce the import duty of their key raw material polymer to help make exports of value-added products from India more competitive. Other expectations also include support in reducing logistic costs, subsidies, and a lower threshold for the Production Linked Incentive (PLI) scheme.

Renewable and solar energy is now being seen as the next big opportunity for plastic processors to make parts and components for solar panels and windmills. To that effect, the industry is hoping the government offers incentives to promote local manufacturing to benefit the industry at a time when demand for plastic is fading.

Also Read | Budget 2023 | Precious metals industry eyes import duty cuts

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

DealShare lays off 100 employees, prioritises profitability over expansion

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Grocery and delivery app DealShare has laid off 100 employees or 6% of its workforce as part of the business restructuring.

Grocery and delivery app DealShare has laid off 100 employees or 6% of its workforce as part of the business restructuring.

“As part of our business restructuring plan and to sustain growth, we have taken a difficult decision to reduce the size of the team by 100 employees which constitutes only 6% of the company. We have taken adequate measures to compensate the affected employees,” DealShare founder and co-CEO, Sourjyendu Medda told CNBC-TV18.

The company backed by Tiger Global said it aims to reduce cash burn rate, streamline operations and focus on driving profitability and was rethinking business strategy post a market downturn. It will shift focus from growth and expansion to profitability.

DealShare said it has reduced cash burn rate by 40% and increased cash runway to four years and are now the strategy is to pullback on initiatives and pause geographical expansion until the company turns profitable.

The company, founded in 2018, enables hyperlocal online buying through its e-commerce platform. Present across 130-140 cities currently since its beginning in Jaipur, it turned unicorn in January 2022 with a valuation of $1.7 billion and serves around 20 million consumers, with about 4 lakh orders taken daily.

Also read: 78 percent Indian workers uneasy about job security amid layoffs: Survey

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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CII President Sanjiv Bajaj pins hope on Budget 2023 to boost consumption demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Confederation of Indian Industry (CII) like every year has come up with its recommendations for the finance minister ahead of the Budget. From the economic policy standpoint, they say the key focus should be on revenue augmentation and on growth strategies.

As we count down to the Union Budget 2023, the last full budget ahead of the General Elections in 2024 all eyes are on the finance minister Nirmala Sitharaman. Will Budget 2023 builds on the previous year’s announcements, or will the finance minister surprise the citizen and industry with some fresh triggers to accelerate growth?

The Confederation of Indian Industry (CII) like every year has come up with its recommendations for the finance minister ahead of the Union Budget. From the economic policy standpoint, they say the key focus should be on revenue augmentation and on growth strategies.

Interestingly, CII is also battling for a cut in personal income tax. They also recommend standardising holding periods and capital gains tax rates across asset classes.

Speaking to CNBC-TV18, Sanjiv Bajaj, President of CII expressed that the mood in the market is cautiously optimistic, with a sense of hope that the Budget will consolidate the issues faced by the economy and take it forward.

However, he emphasised the need for the government to adhere to the fiscal deficit target of 6.4 percent for this year in order to maintain financial stability. He acknowledged that the external situation is quite uncertain and that the government continues to focus aggressively on privatization and also focus on revenue augmentation as well as boosting consumption demands to revive the economy.

He said, “The government has been very focused on an investment-led growth strategy. We hope we continue to see that in the coming budget as well, with a 35 percent increase in public capex, like the previous year, we need to continue boosting consumption demand.”

Read Here | Budget 2023 Expectations updates: Freeze import duties for next five years, says GTRI

Bajaj also highlighted the fact that the people of the lower income level have been hit the most by the COVID-19 pandemic and inflation and expressed hope that the government will look at rationalising personal income tax for these groups.

Sanjiv Puri, vice president of CII expressed that there are signs of a pick-up in the rural economy, which presents a great opportunity for the government to expand its production-linked incentive (PLI) schemes in sectors like apparel and toys. He believes that these sectors have the potential to create jobs and drive economic growth.

Puri said, “The PLI schemes have worked well. There is an opportunity to expand it and there is some mention of it already through some large employment generation sectors, whether there’s apparel or toys, or footwear amongst others.”

He added, “To build on farm incomes, to exploit the full potential of agriculture I think the trajectory that has been started in earlier Budgets, with focus on inducing technology, with focus on aggregation through FPOs, the agri-infrastructure funds, I think those are the right steps and we should build on it.”

Read Here | Budget 2023 — Awaiting a deeper policy push into green energy and environment

Puri also emphasised the importance of the tourism sector, which has been hit hard by the COVID-19 pandemic. He urged the government to create enabling provisions for the tourism sector to flourish. He said that tourism can create 50 million jobs in the next few years, which can be a major boost to the economy.

Chandrajit Banerjee, director general at CII emphasised the need to focus on consumption demand and pursue investment-led growth. He said the government should look at introducing an employment-linked incentive scheme to boost job creation and increase the consumption demand.

Banerjee also highlighted the need for the government to increase allocation for capital expenditure (Capex) by 35 percent. He said this would help in creating more job opportunities and boost economic growth.

One of the key areas of focus for CII, according to R Dinesh, the President-designate, is the continuation of earlier steps taken to promote public-private partnerships (PPP). He noted that PPP has been on the CII agenda for a long time and that the organization is eager to see progress in this area.

Also Read | Budget 2023 | Defence sector expects mega boost in this year’s allocation

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Meet Padma Shri Awardee Guru K Kalyanasundaram Pillai, man who is keeping 400 years old art of teaching students alive

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

On the 74th Republic Day, Natya Acharya Guru K Kalyanasundaram Pillai was awarded the Padma Shri for his contribution to the field of art. He dedicates this award to all his gurus, his father Bharatha Vidwan Guru T.P. Kuppiah Pillai, his brother-in-law Natya Kalanidhi Guru A.T. Govindraj Pillai and his eldest brother Natya Kala Acharya Kalaimamani Guru T.K. Mahalingam Pillai.

In a quiet lane of Mumbai’s Matunga, surrounded by temples, lies a Bharatha Natyam institute founded in 1945. Sri Rajarajeswari Bharatha Natya Kala Mandir has since been home to many world renowned dancers. The sound of feet and the dance sequences recited by the Gurus of the institute is a divine experience daily for the people living here.

The Gurus of Sri Rajarajeswari Bharatha Natya Kala Mandir have been carrying on the cultural heritage of the Thanjavur style of Bharatha Natyam with an illustrious lineage of ancestors dating back to over 300-400 years. The school that even today follows the ancient Guru-Shishya Parampara, is one of the few schools that are run by the hereditary Nattuvanar families and, has become one of the most prestigious institutions in the world.

On the 74th Republic Day, Natya Acharya Guru K Kalyanasundaram Pillai was awarded the Padma Shri for his contribution to the field of art. He dedicates this award to all his gurus, his father Bharatha Vidwan Guru T.P. Kuppiah Pillai, his brother-in-law Natya Kalanidhi Guru A.T. Govindraj Pillai and his eldest brother Natya Kala Acharya Kalaimamani Guru T.K. Mahalingam Pillai.

Also Read: Shah Rukh Khan 4th richest actor in the world – find out who is the wealthiest

He has received many awards and accolades for his contributions to the art of Bharatha Natyam, including Natya Kalanidhi- Thyagaraja Sabha in Tamil Nadu, Kalaimamani by Tamil Nadu Government, among many others. He has also been conferred with the Sangeet Natak Akademi Award and the Ratna Sadasya Award by the Akademi, a prestigious award given by the Central Government for artists.

In 1986, he choreographed a presentation, ‘National integration through dance’ along with Gurus of other classical dance forms including Padma Vibhushan Pandit Birju Maharaj, Padma Vibhushan Guru Kelucharan Mohapatra and Padma Bhushan Guru Vempatti Chinna Satyam. In a career span of seven decades, Guru K Kalyanasundaram Pillai has created countless Bharatha Natyam productions with a rich tapestry of choreography, music and literature. His students have featured at many prestigious dance conferences and festivals in India and worldwide.

He has trained an array of well known dancers, Malavikka Sarukkai, Vani Ganapathy, Viji Prakash, Suneeta Pillai, Meera Dhanu, Pratima Choudhary, Lata Pada, Gowri Rao, Preeti Warrier and many more.

Guru K Kalyansundaram Pillai continues to nurture many students at the institute and directs several programs and performances.  He continues to enthrall the audiences with his productions and various unique choreographies.

It is believed that one has to be immensely blessed to find a Guru in their life. “I am extremely lucky to have found not just my Guru, but also have the good fortune of learning under Param Guru, Guru K Kalyanasundaram Pillai. Sri Rajarajeswari Bharatha Natya Kala Mandir is an institute par excellence. In a dynamic city like Mumbai, my dance institute remains a fortress of calmness, devotion and a repository of knowledge and culture not just for me but all the students who come here.”

Also Read: Padma awards 2023 | Medical professional Dilip Mahalanabis, 26 ‘unsung heroes’ honoured

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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LIC’s value in Adani stocks fall by over Rs 16,000 crore, but there’s ‘no panic’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The fall in Adani’s stock also had a collateral impact on India’s largest life insurer, Life Insurance Corporation of India (LIC). LIC, which is also the country’s largest institutional investor, has a significant holding in almost all Adani Group companies.

LIC’s share value in Adani group stocks fell by Rs 16,000 crore following the massive drop in the conglomerate’s share price in the wake of the scathing Hindenburg report. Sources at LIC however told CNBC-TV18 that the insurer has not sold any shares in today’s fall and there is “no panic” around Adani Group.

Moreover, LIC is planning to plough in Rs 300 crores into Adani Enterprises’ new share sale in the follow-on public offering (FPO), according to a filing. This would increase its stake from its current holding of 4.23%.

Shares of Adani Group’s seven listed companies fell by Rs 4 lakh crore ($5.4 billion) in just two days, ending the trading day with cuts anywhere between 5 percent to 20 percent.

The fall in Adani’s stocks also had a collateral impact on India’s largest life insurer, Life Insurance Corporation of India (LIC). LIC, which is also the country’s largest institutional investor, has a significant holding in almost all Adani Group companies. LIC holds a 4 percent stake in the flagship Adani Enterprises, a 9 percent stake in Adani Ports, and over 6 percent stake in both ACC and Ambuja Cement.

The mark to market value of LIC’s investment book dropped by over Rs 16,200 crore ($2.17 billion) today due to the fall in Adani Group stocks. As per Friday’s closing, the value of LIC’s investments in Adani Group stocks stood at Rs 76,800 crore ($10.2 billion). The value of LIC’s investments fell the most in Ambuja Cement followed by Adani Total and Adani Ports.

Hindenburg has alleged market manipulation, accounting fraud and use of offshore shell companies for money laundering in Adani group companies. The conglomerate has however denied these allegations and is considering taking legal action against the short-seller.

Also read: SBI says not concerned about Adani Group’s debt serviceability

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Piyush Goyal | Higher GST mop-up partly due to rise in economic activity

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Goyal said increasing imports signal that economic activity is picking up in India, while addressing the inaugural ceremony of DAKSH 2023 at Christ University, Bengaluru. He added that India has been able to maintain inflation at reasonable levels for most products.

Union Minister of Commerce and Industry Piyush Goyal on Friday, January 27, said a large part of the increase in goods and services tax (GST) collections can be attributed to higher economic activity. Speaking on inflation, he said in India it is mostly seen in energy products.

Speaking at the inaugural ceremony of DAKSH 2023 at Christ University, Bengaluru, Goyal stated that increasing imports signal that economic activity is picking up in India and this increased demand will encourage new investment, thereby creating new jobs.

The minister pointed out that inflation has largely been seen in energy products and India has been able to maintain other products at reasonable levels.

Also Read: Indian economy remains resilient in hostile global environment, says RBI governor

Goyal urged students to make sustainability an important element of their lives, stressing that sustainability is going to determine the future of the planet.

He said Australia and India are in dialogue to offer joint degrees or dual degrees for students of both countries, “India is in dialogue with the UK for mutual recognition of degrees and supporting each other with offshore campuses for colleges of both the countries.”

The minister said India is in talks with Gulf countries and exploring having offshore campuses of Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs)  in Middle East countries.

Also, he said the government is engaging with universities across the world and Stanford University has expressed its interest to expand collaboration between India and the USA.

Also Read: Indian digital economy can touch trillion dollars over next few years: Rajeev Chandrasekhar

Talking about National Education Policy (NEP), Goyal said it came out in 2020 but unfortunately due to COVID-19, could not have outreach programmes with many universities.

Further, he said, the government has been successful in helping the startup ecosystem and service industry and urged the management of Christ University to have a competition among their students, wherein they can suggest what needs to be done by the government, business, and industry. Those who give the best suggestions can be awarded, he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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10 Questions · 5 Minutes
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Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?