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BookMyShow has been appointed as the official travel agent from India for Rugby World Cup 2023. The tourney is set to take place in France between 8 September, 2023 and 28 October, 2023. As per the partnership, BookMyShow will offer ticket-inclusive travel packages. In addition to these, the platform will also offer customised package options for corporate incentive groups for their partners and employees. Fans in the country will be able to book these packages starting 25 August, 2021 and experience the action live in stadia. The upcoming Rugby World Cup 2023 in France marks an iconic event in the world of sports, with fans across the globe, Anil Makhija, COO – live entertainment and venues, BookMyShow said. As the official travel agent, we aim to offer a combination of the Rugby World Cup 2023 and the charm of France to millions of our users in the country, Rugby World Cup France 2023 will commemorate the 200 years for Rugby and will be the tenth World Cup for the sport. The tournament is expected to host more than 450,000 international spectators with more than two million tickets being available across venues. This sporting event will provide fans a perfect platform to enjoy matches and experience France Paris will also be hosting the 2024 Olympic Games, which will boost France A total of ten cities from Lille in the North to Toulouse in the South will host 20 teams playing 48 matches across nine venues in France to compete for the Webb Ellis Cup. The opening match scheduled on 8 September, 2023 will be played between the host country France and New Zealand at the Stade de France. Read Also: Shyam Steel ropes in Lovlina Borgohain and Manpreet Singh as brand ambassadors Follow us on Twitter,Instagram,LinkedIn,Facebook
Public Provident Fund (PPF) is a government-backed small saving scheme run under the Ministry of Communications. The popularity of this investment option is because of its tax benefit, along with the minimum investment amount. Experts say this scheme can be looked at for regular deposits. PPF offers guaranteed\/assured returns every year, however, the exact figure fluctuates. PPF is currently offering 7.1 per cent interest, and it is revised every quarter by the government. The catch here with this investment option is that one can only invest Rs 1.5 lakh in PPF in a year. Experts say even though the yearly investment amount is limited to only Rs 1.5 lakh, PPF is among the safe fixed-income products. For conservative investors, it is an ideal option due to the fixed rate of return and predictability in the gains in PPF. Investing in PPF is recommended by financial experts as the maturity amount of PPF and the overall interest earned during the period of investment are tax-free. Along with all the advantages of PPF, there are certainly some drawbacks that should not be overlooked. For instance, PPF is a long-term investment, you will not be able to get access to the money before 15 years from the date of investment, as PPF comes with a maturity period of 15 years. However, if an investor wants to continue their PPF investment after the maturity period can do so for a block of 5 years and so on. An investor can also keep their PPF account active even after maturity, without making any fresh contributions. The PPF account continues to earn tax-free interest after maturity. Another important drawback of this investment avenue is its fixed return. In the case of high inflation in the economy, industry experts say returns from this investment avenue will not be able to protect ones invested wealth. Although PPF usually offers a steady rate of interest, experts say market-linked instruments like stocks and MFs are known to provide higher returns. For risk-taking investors, experts suggest one could consider investing in equity-linked investments such as stocks and equity-oriented MFs, for better returns. Note that, these investments carry higher risks and, hence, require careful consideration, and risk tolerance levels.
United States President Joe Biden said withdrawing the troops from Afghanistan to end the 20-year war was the best and the right decision for America. He said there was no reason to continue in a war that was no longer in the service of the vital national interest of the American people. I give you my word: With all of my heart, I believe this is the right decision, a wise decision, and the best decision for America, Biden said in his address to the nation from the White House on Tuesday. Weve been a nation too long at war. If youre 20 years old today, you have never known an America at peace. So, when I hear that we couldve, shouldve continued the so-called low-grade effort in Afghanistan, at low risk to our service members, at low cost, I dont think enough people understand how much we have asked of the 1 percent of this country who put that uniform on, who are willing to put their lives on the line in defense of our nation, he said. Telling his fellow Americans that the war in Afghanistan is now over, Biden said he is the fourth President who has faced the issue of whether and when to end this war. When I was running for President, I made a commitment to the American people that I would end this war. And today, Ive honored that commitment. It was time to be honest with the American people again. We no longer had a clear purpose in an open-ended mission in Afghanistan, he said. After 20 years of war in Afghanistan, I refused to send another generation of Americas sons and daughters to fight a war that should have ended long ago, Biden added. After more than USD 2 trillion spent in Afghanistan – a cost that researchers at Brown University estimated would be over USD 300 million a day for 20 years in Afghanistan – for two decades, he said.If you take the number of USD 1 trillion, as many say, thats still USD 150 million a day for two decades. And what have we lost as a consequence in terms of opportunities I refused to continue in a war that was no longer in the service of the vital national interest of our people, he added. As Commander-in-Chief, I firmly believe the best path to guard our safety and our security lies in a tough, unforgiving, targeted, precise strategy that goes after terror where it is today, not where it was two decades ago. Thats whats in our national interest, the President said. Biden said that the world is changing and the US is confronted with new challenges. Were engaged in a serious competition with China. Were dealing with the challenges on multiple fronts with Russia. Were confronted with cyberattacks and nuclear proliferation, he said. We have to shore up Americas competitive[ness] to meet these new challenges in the competition for the 21st century. And we can do both: fight terrorism and take on new threats that are here now and will continue to be here in the future, he added. Biden said, Theres nothing China or Russia would rather have, would want more in this competition than the United States to be bogged down another decade in Afghanistan. As we turn the page on the foreign policy that has guided our nation the last two decades, weve got to learn from our mistakes. He said the terror threat has spread across the world, well beyond Afghanistan. We face threats from al-Shabaab in Somalia; al Qaeda affiliates in Syria and the Arabian Peninsula; and ISIS attempting to create a caliphate in Syria and Iraq, and establishing affiliates across Africa and Asia, he added. The fundamental obligation of a President, in my opinion, is to defend and protect America – not against threats of 2001, but against the threats of 2021 and tomorrow. That is the guiding principle behind my decisions about Afghanistan. I simply do not believe that the safety and security of America is enhanced by continuing to deploy thousands of American troops and spending billions of dollars a year in Afghanistan, Biden said. But I also know that the threat from terrorism continues in its pernicious and evil nature. But its changed, expanded to other countries. Our strategy has to change too, he added. The United States, he said, will maintain the fight against terrorism in Afghanistan and other countries. We just dont need to fight a ground war to do it. We have whats called over-the-horizon capabilities, which means we can strike terrorists and targets without American boots on the ground – or very few, if needed, he said. Weve shown that capacity just in the last week. We struck ISIS-K remotely, days after they murdered 13 of our service members and dozens of innocent Afghans. And to ISIS-K: We are not done with you yet, Biden said.
Opening a bank account in the name of your child could be the first step to make them familiar with matters related to money. Getting familiar with the basics of banking and finances could go a long way in building a savings habit in them. But, before you visit your banker to open a child bank account, there are a few things to keep note of. If the child age is below 18, the bank will call these a minor account. For kids below 10, the account has to be jointly operated with the parent or guardian, but if the childs age is between 10 and 18, the account can be operated by the child. On crossing the age of 18, the account may be converted into a regular savings account and the parent cannot operate it thereafter. Although the minor account comes with features such as internet banking, ATM or debit card, cheque book facility etc., make sure to confirm from the banker for any kind of restrictions on their usage. The transaction password may not be provided on such accounts. Show the child the cheque book and its features along with how it is to be used. Draw a cheque in your name and see how the statement reflects the debit and credit entry in both the accounts. To keep the minor account funded, you as a parent will want to make a seamless transfer of funds from your account to the minors account. There could be a standing instructions Transfer of funds could be possible also through NEFT mode. Children may also be taught about such features and their use. Some banks may issue photo ATM cards which may also carry the name of the parent. Take your child to the ATM and make them check out how to use the ATM card safely. In fact, safe banking features need to be told to the children every time a banking transaction is conducted. Tell the children about the important dos and donts of banking when using ATM cards or net banking. There could be a pre-set limit on daily and annual spend in the child bank account. You may even set your own limits to enhance safety. Make sure the SMS feature is enabled and you get an alert on every transaction. Now, comes an important feature that you as a parent need to keep note of. Your child account may have a requirement of minimum average balance (MAB) to be maintained at all times. Make sure you stick to it else a penalty is charged eating into your returns and capital. While opening the account, make sure to confirm from the banker about the safety and protection features that may come in-built in a child account. From username, passwords to safe use of net banking, give your child the right start by taking the child to the bank while opening the account in his or her name.
Leasing of industrial and warehousing spaces in five major cities rose 31 per cent during the first six months of this year mainly driven by growth in e-commerce activities, according to property consultant Colliers. The leasing of industrial and warehousing spaces increased to 10.1 million sq ft during January-June this year from 7.7 million sq ft in the corresponding period of the previous year despite the COVID-19 pandemic. The five cities tracked by Colliers India are – Bengaluru, Chennai, Delhi NCR, Mumbai and Pune. New supply jumped over two-folds to 15.1 million sq ft from 7.3 million sq ft during the period under review. Third party logistics (3PL) companies and e-commerce firms accounted for almost 31 per cent and 22 per cent of the total demand, respectively. Demand for industrial and warehousing space will not only come from e-commerce, 3PLs, but also from medical suppliers, exporters and cold storage operators, said Ramesh Nair, Chief Executive Officer India Managing Director, Market Development, Asia, Colliers. With same-day delivery becoming the norm, Nair said there will be significant activity in smaller facilities closer to cities, needed for last-mile delivery. Nair expects demand from 3PL and e-commerce firms to remain resilient in the coming quarters. The behavioral shift of consumers from offline to online shopping is contributing to increased demand across the spectrum of industrial and logistics property, said Shyam Arumugam, Managing Director, Industrial Logistics Services (India), Colliers. According to the data, leasing of industrial and warehousing spaces increased in Bengaluru to 2 million sq ft during January-June 2021 from 0.8 million sq ft in the year-ago period. In Delhi-NCR, the leasing rose marginally to 3 million sq ft from 2.9 million sq ft.7 million sq ft from 1.3 million sq ft. The absorption or leasing of spaces in Pune increased to 2.7 million sq ft from 1.4 million sq ft. However, the demand fell in Mumbai that saw leasing of only 0.7 million sq ft during January-June 2021 as against 1.4 million sq ft in the same period of last year. On the supply front, Colliers said that developers are focusing on completing their projects to meet rising demand. Overall vacancy rate was at just over 12 per cent with both Bengaluru and Chennai having the lowest vacancy rate of 6.3 per cent. Pune and Delhi NCR have the highest vacancy rates at 17.9 per cent and 17.4 per cent, respectively. Rentals appreciated in all the five cities during January-June 2021 compared to the last year. Bengaluru saw the steepest rise of about 19 per cent as demand outpaced supply.
Remember the whale on the cover of the famous 19th-century novel Moby-Dick by Herman Melville? That was a sperm whale. Melvilles book talks in detail about the anatomy of various species of whales. The literary tryst with nature makes the reader take a deep dive into the lore and science of whales and whaling. A unique mythical creature Sperm whales live in a stable and complex matrilineal society similar to that of elephants. The teeth on the bottom jaw can grasp large squid or fish unlike other large whales, which filter smaller, denser prey through baleen. Sperm whales are usually found in deep oceanic waters and can be observed closer to the shore around islands. The marine environment is dependent on whales as these creatures play an important role in capturing carbon from the atmosphere and fighting against climate change. The size and impression of the creature, however, have made them vulnerable to illegal trade activities. The sperm whale is a protected species and it is considered illegal to hunt it, but smugglers have always targeted the fish for its valuable ambergris, a rare substance, in the form of a waxy oil, that lines a whale It is also called Most times, ambergris has been misinterpreted as whale vomit, which, as suggested by experts, is not expelled through their mouths, but excreted from the back. An upset stomach can create ambergris, which has been highly valued for thousands of years as an ingredient in perfume and pharmaceuticals. The substance originates in the intestines of male sperm whales after feasting on squid whose hard, pointy beaks scrape the whales guts. Scientists also believe that whales sometimes protect their intestines and body parts by secreting a fatty substance to surround the beaks. Once puked, it solidifies and floats on the surface of the sea. The substance is black and soft with an odour. The smell is terrible and has been compared to dried cow dung. But once exposed to sun, air and seawater, it hardens and fades to a light grey or yellow, developing a subtle and pleasant fragrance in the process. The longer it floats, the better the scent. The coveted ingredient Sometimes it is even used to make medicines. The glue-like substance in it makes the aroma in perfumes last long. Because of its high value, it has been seized many times and found in lumps of various shapes and sizes, ranging from 15 gm up to 420 kg. China, Japan, Africa, the Americas and tropical islands such as the Bahamas use ambergris for medicines, potions and spice. News reports reveal that early this year, ambergris was seized from Thailand worth 1,90,000 British pounds. In June, Mumbai Police seized nearly 9 kg of ambergris The collection, possession and sale of all wildlife material is prohibited under the Wildlife Protection Act of 1972 in India. Internationally, there is a freeze on commercial whaling and a ban on international trade of whale products, but three countries Over 1,000 whales are killed every year for commercial purposes. Over three lakh whales and dolphins are killed each year as a result of fisheries bycatch, while others succumb to other threats, including shipping and habitat loss, says WWF, the world The US and other International Whaling Commission member countries have tried for years to persuade Iceland, Japan and Norway to end whaling as it undermines the effectiveness of the commissions ban on commercial whaling. There is also a threat of climate change and loss of sea ice in the Arctic and Antarctic that has affected the habitats of whales. Underwater plants and animals that whales feed on have moved because of climate change. These changes make whales migrate to places where food is available.
Vijaya Diagnostic Centre has raised Rs 566.12 crore from 29 anchor investors ahead of its IPO (initial public offering). The South-India based firm has allocated 1,06,61,418 shares at the upper price band at Rs 531 per equity share to anchor investors such as Goldman Sachs, CLSA, Fidelity International, and Abu Dhabi Investment Authority. The IPO opens for subscription today and will remain open till the end of the week. Vijaya Diagnostic is looking to raise Rs 1,894 crore through the public issue of equity shares in the price band of Rs 522-531 per share. Goldman Sachs, Fidelity, ADIA pick stake The largest stake among anchor investors has been picked up by Fidelity Investment Trust. A total of 8.68 lakh shares have been allocated to Fidelity Investment Trust, which is 8.15% of the total anchor portion, for Rs 43.13 crore. Goldman Sachs Singapore has picked up 5.28% of the entire anchor portion or 5.63 lakh shares. Abu Dhabi Investment Authority has bought 4.5 lakh shares for Rs 23.89 crore. DSP Healthcare Fund bought 4.68 lakh shares of Vijaya Diagnostic through the anchor portion, the largest among domestic mutual fund schemes. Other domestic investors include SBI, Edelweiss, Axis Mutual Fund, Nippon Life, Kotak Mahindra, and ICICI Prudential. What do analysts say? Choice Broking: Avoid VDCL has presence in both diagnostic and radiology segment; however its peers mainly have presence in diagnostic business only. The company is a regional player, deriving around 95% of its business from Andhra Pradesh Telangana region, while its peers are largely multi-regional. VDCL primarily derives almost all of its business from walk-in customers, which is much higher than its peers. The diagnostic sector will continue to have a secular growth trend with good cash flow generation capabilities. However, rising healthcare costs may put stress on profitability of the sector. At higher price band of Rs. 531, VDCL is demanding a TTM P\/E multiple of 47x, which is in-line to the peer average. Thus the issue seems to be fully priced. Thus we assign a IIFL Securities: Subscribe Now At the upper price band, Vijaya Diagnostic Centre Limited is demanding a PE multiple of ~64.3X of FY21 earnings which is lower than the industry average of 90.8X. Considering the future growth potential of healthcare industry, revenue from operation, EBITDA and PAT growth of 13.5%, 23.9% and 35.5% CAGR during FY19 to FY21, respectively, strong ROE and ROCE of 23.64% and 42%, respectively in FY21, debt-free company with plans for acquisition and expansions, diversified service offerings and strong technical capabilities of the company, we recommend Also Read: Vijaya Diagnostic IPO opens tomorrow; grey market premium weak, should you subscribe? Reliance Securities: Subscribe from long term perspective The IPO is valued at 64x of FY21 earnings, which appears to be at a discount of 15-40% compared to the valuation of its peers like Metropolis and Dr. Lal PathLab. However, considering its annualized earnings for FY22E, it is priced at 41x, which looks reasonable. We further believe lukewarm performance to Krsnaa Diagnostic post listing (IPO was valued at 16x of FY21 earnings), the investors should not expect strong any substantial listing gain. However, steady cash generation, superior balance sheet, decent return ratio and healthy outlook for healthcare industry in the country augur well for the company. We recommend SUBSCRIBE to the IPO from long-term perspective.
Ami Organics Rs 570-crore IPO has been subscribed 1.37 times so far on the first day of the bidding. Investors have put in bids for 89.23 lakh equity shares against 65.42 lakh shares on offer. On Wednesday, the grey market premium in Ami Organics surged to Rs 155 from Rs 122. Ami Organics shares were seen trading at Rs 765 apiece, a premium of 25.4 per cent, over the upper end of IPO price band, according to the people who deal in unlisted shares of the companies. Ami Organics raised Rs 171 crore from 20 anchor investors ahead of the opening of its IPO. The company after consultation with merchant bankers has finalised allocation of 28.01 lakh equity shares to anchor investors at a price of Rs 610 per share, the upper price band. Investors including SBI Mutual Fund, Nippon Mutual Fund, Malabar India Fund, Kuber India Fund, UTI MF, IIFL Asset Management, Sundaram MF, Elara India Opportunities Fund, and Carnelian Capital Compounder Fund participated in the anchor book. Among others, SBI Life Insurance, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, and Max Life Insurance also invested through the anchor book. Motilal Oswal Financial Services Rating: Subscribe for listing gains Motilal Oswal Financial Services likes Ami Organics given its wide product portfolio in PIs, diversification efforts into other specialty chemical space, strong clients It is well placed to tap opportunity in the fast-growing specialty chemical market by leveraging its strong RD and expanding product portfolio. The issue is reasonably valued at 41.2x FY21 P\/E on post issue basis (avg. peer FY21 P\/E of 45x), while it enjoys higher growth. The brokerage firm believes that the market would like to give premium valuation to such niche stories. Choice Broking Rating: Subscribe At a higher price band of Rs 610, Ami Organics is demanding a P\/E multiple of 41.2x (to its FY21 EPS of Rs 14.8), which is at discount to the peer average of 48.3x. Anticipating lower profitability in the medium term, Choice Broking feels that the issue is reasonably priced. Considering the dominant market positioning of the company in the manufacturing of pharma intermediates for certain high-growth high-margin therapeutic areas, business growth from the specialty chemicals and lower debt levels post-IPO, it has assigned a subscribe rating for the issue. Marwadi Financial Services Rating: Subscribe Considering the FY21 adjusted EPS of Rs.14.82 on a post issue basis, the company is going to list at a P\/E of 41.16 with a market cap of Rs 22,227 mn while its peers namely Aarti Industries and Hikal are trading at a P\/E of 54.20 and 46.13 respectively. The brokerage firm assigned subscribe rating to this IPO as the company has a strong and diversified product portfolio supported by strong RD and process chemistry skills and is available at a reasonable valuation as compared to its peers. HDFC Securities Rating: Not Rated Ami Organics manufacture and market advanced pharmaceutical intermediates used for manufacturing of APIs and NCEs in select therapeutic areas such as anti-retroviral, anti-inflammatory, antipsychotic, anti-cancer, anti-Parkinson, antidepressant and anti-coagulant. This pharmaceutical intermediates business has high entry barriers inter alia due to: (a) a long gestation period to be enlisted as a supplier with the customers, particularly with the customers in US and European countries, which requires suppliers to adhere to strict compliance requirements, leading to a high regulatory gestation period; and (b) the involvement of complex chemistries in the manufacturing process, which is difficult to commercialize on a large scale. Kotak Securities Rating: Not Rated The company manufactures and markets advanced pharmaceutical intermediates used for manufacturing of APIs and NCEs in select therapeutic areas. This pharmaceutical intermediates business has high entry barriers inter alia due to: (a) a long gestation period to be enlisted as a supplier with the customers, particularly with the customers in US and European countries, which requires suppliers to adhere to strict compliance requirements, leading to a high regulatory gestation period; and (b) the involvement of complex chemistries in the manufacturing process, which is difficult to commercialize on a large scale. (The stock recommendations in this story are by the respective research analysts and brokerage firms. Financial Express Online does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)
Bank of India is planning to raise Rs 3,000 crore equity capital through a qualified institutional placement (QIP) offer to fuel business growth and meet regulatory compliance, sources said. The bank is in the process of raising Rs 3,000 crore through QIP and seven book running lead managers have been appointed for the proposed issue, sources privy to the development said. A non-deal roadshow to woo investors concluded on Monday. The management of the bank participated in one-on-one and group meetings for the roadshow during August 10-23, 2021, the bank said in a filing. Total 26 investors participated in the roadshow including Yes Bank, IDFC Bank, HDFC Treasury, ICICI Prudential Life, Edelweiss, SBI Life, Mirae, Kotak Life, Federal Bank, Marshal Wace, Polunin among others, the bank said. The purpose of the issue is not only to fuel regular business growth, but also to deploy capital for improving technical platform of the bank, co-lending digital operations, tie-ups with fintech companies, and syncronisation of tech platform with overseas and domestic operations, as per the sources. The bank will also utilise the proceeds of the QIP for developing app based retail loan applications and offer electronic bill discounting facility, they added. Also, Government of India, our promoter is currently holding 90.34 per cent stake in the bank as of June 30, 2021. With the proposed QIP of Rs 3,000 crore, the promoters stake will come down to a substantial level and as a result, the compliance with Sebi guidelines of maintaining minimum public shareholding will be ensured, a source said. The banks asset quality has shown consistent improvement with gross non-performing assets (NPAs) falling to 13.5 per cent as of June 30, 2021 from 13.8 per cent at end-March 2021. The gross NPAs were at 14.8 per cent by end of March 2020 and 15.8 per cent by March 2019. Besides, the bank has returned to profitability as against back-to-back losses in FY19 and FY20. Bank of India earned a net profit of Rs 720 crore in June quarter 2021-22. In FY21, there was an overall profit of Rs 2,160 crore. The lender had suffered a net loss of Rs 2,960 crore in FY20 and of Rs 5,550 crore in FY19. Around 88 per cent of the gross advances are comprised of A rated and above as well as GGA (government guaranteed advances) segment advances. Most of the banks gross advances presently comprise secured and good rated assets. The banks focus going forward would be towards RAM (retail, agri, MSME) and GGA segments, particularly with the emphasis on the good rated and sovereign guaranteed advances, so that the bank can maintain asset quality in future, said a source. Further, the bank has identified total restructuring book of not more than Rs 11,500 crore. Out of this, the bank has restructured Rs 7,300 crore till June 2021 and the rest of the restructuring will be made before the threshold date of September 30, 2021. So, together with the restructuring and SMA (special mention accounts) 2 portfolios, the stress loan book stood at less than 3 per cent on gross advances (as on June 2021) and the same is significantly low, in comparison to other peer banks, they said.
CoinDCX has joined the Advertising Standards Council of India (ASCI), a voluntary self-regulatory organisation of the advertising industry. With this membership, CoinDCX will actively support the advancement of advertising standards within India This will boost confidence among the users, and they can use our platform without any apprehension. Being the safest crypto exchange, we have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products, We welcome members representing these new industries, who believe in self-regulation. Collaboration and consultation with all stakeholders are keys to navigating the consumer protection challenges posed in this digital age, Founded in 2018, CoinDCX claims to have already onboarded more than 3.5 million users. It will now carry forward the vision of making crypto accessible in India and accelerate its efforts towards bringing 50 million Indians into crypto, the company has said. CoinDCX recently announced that it has raised $90 million which values the company at over $1.1 billion. B Capital Group, founded by former co-founder of Facebook Eduardo Saverin, led the Series C funding in the company, which also saw participation from existing investors like Coinbase Ventures, Polychain Capital, Block.one, Jump Capital. Read Also: Shyam Steel ropes in Lovlina Borgohain and Manpreet Singh as brand ambassadors Follow us onTwitter,Instagram,LinkedIn,Facebook