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Bloomberg: Stocks climbed, led by some of the world Traders also assessed the impacts from Tropical Storm Ida, which sank insurers and energy firms, while pushing gasoline higher. The SP 500 notched its 12th all-time high in August, and the Nasdaq 100 rallied as Apple Inc.5 trillion. Robinhood Markets Inc. and Charles Schwab Corp. slid as Securities and Exchange Commission sank in late trading after giving a sales forecast that fell short of some analysts As the earnings season draws to a close, the SP 500 is on track for its seventh straight monthly advance – the longest winning streak since January 2018. Federal Reserve Chair Jerome Powell did just enough last week to preserve the view that his goals align with investors U.S. pending home sales fell in July, while traders looked to Friday However, when looking at the recent pace of earnings, the policy environment and market history, we fail to see a compelling bear case against equities. A , said in an interview on Bloomberg TV surged after entering a partnership with Amazon.com Inc. to help consumers finance large purchases made on the e-commerce giant Vinco Ventures Inc., a digital media company, and software firm Support.com Inc. extended rallies fueled by retail investors in chatrooms like StockTwits and on Reddit. Airlines fell as European Union countries voted to reimpose restrictions on non-essential travel from the U.S. amid a surge in coronavirus cases. Chinese gaming stocks listed in the U.S. were under pressure after regulators in Beijing cut back the amount of time minors can play each week, with NetEase Inc. and Bilibili Inc. dropping. Here are some key events to watch this week: OPEC+ meeting on output Wednesday Euro zone manufacturing PMI Wednesday China Caixin manufacturing PMI Wednesday U.S. jobs report Friday Some of the main moves in markets: Stocks The SP 500 rose 0.4% as of 4 p.m. New York time The Nasdaq 100 rose 1.1% The Dow Jones Industrial Average fell 0.2% The MSCI World index rose 0.5% Currencies The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1799 The British pound was little changed at $1.3761 The Japanese yen was little changed at 109.90 per dollar Bonds The yield on 10-year Treasuries fell three basis points to 1.28% Germany44% Britain58% Commodities West Texas Intermediate crude rose 0.5% to $69.05 a barrel Gold futures fell 0.4% to $1,813.10 an ounce
Buoyed by improving real estate sentiment across cities like Pune, Coimbatore and Kochi, Bangalore-based Puravankara In an interview with Fes Rishi Ranjan Kala, he emphasised that focus is on meeting the aspirations of first-time and mid-income homebuyers. Excerpts: Q. How would you analyse Provident While launches were muted in last three quarters, we clocked the best sales figure of previous five years The ready-to-move-in inventories have significantly declined over the last few quarters. Launch of Woodfield in June 2021 saw a phenomenal response and we sold almost 80% of units on the first day of launch. Q. What future prospects does Provident have, particularly in affordable housing? Provident Housing (PHL) has a strong presence and witnessed remarkable success in Bangalore, Mangalore, Chennai, Hyderabad, Coimbatore and Goa. Provident believes that luxury living should not be an exclusive factor but be accessible to those who aspire. The unique blend of affordability with luxury has transformed Provident into growth engine for our residential business and has encouraged us to expand the footprint into newer markets. PHL will account for close to 50% of our launch pipeline for FY22. Q. What are your views on plotted development projects going ahead? Covid has encouraged individuals to carefully assess their living space – as an investment as well as design. We have noticed an increased customer preference towards quality gated plotted developments over the last year. To cater to this burgeoning segment and address a market lacuna in this sector, we introduced a dedicated arm for plotted development We launched our first project in Bangalore and witnessed a record sale within the first day of its launch. In FY22, we will be launching 5 new projects spreading across 4 million sq ft (MSF) in Bangalore, Chennai and Coimbatore. Q. What are the launch pipelines for Provident and Puravankara in FY22? In FY22, we plan to launch close to 15 MSF. Of this, PHL accounts for 7 MSF. Puravankara and World Home Collection, respectively, will account for 3.5 MSF, whereas Purva Land will see close to 4 MSF of development. PHL will dominate launch pipeline (in terms of MSF) this fiscal. We will foray into newer markets such as Kochi, Mumbai and Pune, with around 3,500 units combined. In total, we will develop nearly 3.26 MSF in these regions and will launch these projects over the next few quarters. Q. How has Puravankara leveraged the digital medium? We launched our virtual, end-to-end booking engine, BookMyHomeNow, for PHL in FY19-20. It allows homebuyers to see through projects, evaluate individual units and book properties without physically visiting them. In June 2020, we became one of the first developers in India to virtually launch projects. Q. What are your plans for Mumbai? In March 2021, we launched Purva Clermont, which is part of our ultra-luxury Worldhome Collection. The project marked our re-entry into Mumbai after three decades. In the upcoming quarters, we have two more residential projects lined up in Mumbai and Pune. These will be unveiled as part of Provident Housing. In congruence with all our Provident offerings, both these projects will be equipped with superior infrastructure, high-end amenities and cater to the aspirations of first-time and mid-income segment homebuyers. In total, these projects will account for up to around 3 MSF. Q. How would you analyse housing demand in Tier II and III cities? Our market research has indicated buoyant customer sentiment in cities like Pune, Coimbatore and Kochi. This is substantiated by a steady rise in demand for ready-to-move-in inventory and a marked preference among homebuyers for branded developers. We anticipate that the momentum of both residential and plotted developments will continue to pick up in these regions. As part of our long-term commitment to invest in tier II cities, we have planned a plotted development project under Purva Land in Coimbatore. Additionally, we will launch a residential project in Kochi and Pune, under Provident Housing, this fiscal.
Nifty futures were trading 22.50 points or 0.14 per cent down at 16,604 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on FO expiry day. Analysts expect volatility in stock markets today on the back of monthly expiry of August contracts. Technical charts suggest that post the strong pullback rally, the index has formed a double top kind of reversal formation near the 16700 resistance level, which is broadly negative for the market. However, the larger texture of the market is still bullish, but for day traders the 16700 level would act as a major hurdle. Above the same, the uptrend could continue up to 16750-16790 levels. On the flip side, a strong possibility of quick intraday correction up to 16580-16550 levels is not ruled out if the Nifty succeeds to trade below 16620, Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said. Stock to watch Bharti Airtel: Bharti Airtel on Wednesday said its board will meet on August 29 to consider various fundraising options. The company said in a regulatory filing that the various options to be considered by the board will be through equity or equity-linked or debt instruments or any combination thereof. However, the company did not disclose the quantum of fundraise under consideration. IDBI Bank: The government has appointed KPMG India as the transaction adviser for strategic disinvestment of its 45.48% stake in IDBI Bank. It would seek expression of interest (EoI) from potential buyers in October, in line with the plan to complete the transaction in the current financial year, official sources said. Tata group stocks: Tata Sons, the holding firm of Tata Group reported a 61.8% decline in its operational revenue to Rs 9,460.24 crore during financial year 2021 compared to the year-ago period, according to the company Operational revenue a year ago (FY20) at Rs 24,770.46 crore was much higher, mainly on account of special dividend received from Tata Consultancy Services. Infosys: IT services major Infosys on Wednesday said it will set up a new digital development centre at its largest Canadian office in Mississauga, a move that will help in creating 500 high-quality jobs in the Toronto region over the next three years. Bank of India: State-owned Bank of India on Wednesday approved the launch of QIP, aimed at raising Rs 3,000 crore equity capital to fund business growth and meet regulatory compliance.
By Manisha Singh, Shweta Sharma, a bright young girl, belonging to Digha village near Patna, Bihar, couldn As fate would have it, she got herself enrolled in a vocational training center in Patna for a four month-long course in solar and electrical technology. At present, she is a proud service engineer in a trading company. This case study brings three critical aspects to our focus: The necessity of technical vocational training, vocational skilling scenario in energy industry, and participation of women (or the lack of it) in energy trade. Like Shweta, around 57% of the students in India dont get any higher education due to socio-economic constraints (Kaushik, 2018).Also, due to the Covid-19 When this is looked at in tandem with another scenario where only one in five workers is skilled in India (T.O.I, 2000) and a skill deficit of 29 million is expected 2030, it can be looked at as either a monumental challenge or a great opportunity. It Energy Sector: a huge opportunity for vocational skill Industry India is the third-largest consumer of energy globally and the energy demand has doubled since 2000. With megatrends of increasing urbanization, digitization and industrialization fueling the energy demand, the consumption is expected to further double by 2050. This is expected to increase demand for a skilled workforce in the energy sector exponentially; this will be across all levels, especially at entry level, which can be fulfilled by technical vocational training. Corporate Social responsibility can lead vocational skill training Although vocational skill training is already a priority with CSR of various corporates, they can come forward to lead technical training basis their expertise. For example, Schneider Electric – being a Global leader in the energy management, automation, and digitization – has very thoughtfully picked up vocational skill training in energy domain as the focus of their global corporate citizenship mandate. With a focus on having more women in the energy trade, and focus on futuristic trades, Schneider Electric Foundation has undertaken a herculean task of skilling 1 million youth globally by 2025. We need more women in Energy sector Energy sector remains a male-dominated sector and there is a long road ahead to make it gender diverse. Women professionals account for only 22% in the energy sector as opposed to global average of 48%. It is alarming that for every 10 males, there is only 1 female enrolled in ITIs in India despite 30% reservation for women. While women play a key role in the energy management, especially in emerging economies like India, however, they lack being economic players in energy sector value chain, which calls for vocational training sector to focus on bringing women to fore. This is easier said than done and would require a mammoth effort to change prevailing mindsets both of parents and recruiters. This would require specific actions such as incentivizing technical training institutes, industries, etc. Essential to focus on vocational training in emerging technologies within energy sector While there is going to be constant demand for traditional skills sets in electrician and solar space, it is equally important to look at futuristic trades within energy domain. Data center is one such field. With increased digitization in all fields, especially since the outbreak of Covid Pandemic, all aspects of life and business is going digital at an accelerated rate. In this scenario, Data Center industry is poised to be one of the fastest growing sectors. Similarly, while there is already a market for renewable technologies, the upcoming decade would observe digital transformation of the grids and renewable energy generation enabled by automation and the use of the software. There would be ubiquitous rise in automation not just in Industries but also in buildings and homes, especially in urban centers. Consequently, it is essential to have availability of skilled workforce that can cater to these upcoming industry demands especially at entry level. Keeping the same in mind, Schneider Electric India foundation, took the lead in setting up India It is also focusing on providing vocational training in industry, home and building automation by setting up Multi-level vocational skilling As energy sector is evolving and transforming, job market is demanding specialized energy professionals even at the entry level. Therefore, in technical vocational training, both long term diploma and short-term certificates are strategic to respond to the different market needs. Similarly, there is also a lot of scope for practicing electricians to upskill themselves to specialize in home automation, industry automation, data center operations, renewable energy technologies. This would not just provide a step up in an energy professional To summarize, vocational skill training in energy domain is at crossroads. It is a time where we need to take a deep dive and work towards making the sector more gender inclusive, ensuring maximum participation from women. At the same time, there is also a needs to align the skilling efforts with market demands and emerging technologies in the energy domain. Corporates, especially those belonging to the power sector can become beacon bearers of vocational education in their respective fields and can play a crucial role in preparing a skilled and employable workforce that caters to present and future demands of energy Industry. (The author is Sr. GM Head CSR, South Asia, Schneider Electric. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)
In times like these, when the ongoing Covid-19 pandemic is making us realize the unpredictable nature of life, the importance of financial security has gained currency. The big second coronavirus wave in the country brought about a sudden change in the lives of several families* who lost their earning members, leaving the survivors in a financially vulnerable situation. Besides making the right saving and investment moves, you also need to ensure that you are adequately covered. Life insurance is the answer, and over the last decade, there has been a growing clamour for insurance solutions that are all-encompassing and comprehensive in securing financial risks. The recent Covid-19 pandemic has brought this need into the spotlight. Therefore, one should always be prepared to take on any such financial risks for the good of the family and to ensure that their dreams and aspirations are not derailed. As one ages, there are various goals to be met at different stages of life. From sending your kids for higher studies and getting them married as years roll on, to buying a home, theres a financial goal to be achieved at almost every stage of life. Essentially, what life insurance does is to help you secure these goals and the family to maintain their standard of living, in case of death of the earning member of the family. Complete Protection While the need to buy insurance could be for different purposes Holding different insurance plans to cover various risks may become a bit inconvenient besides making it less cost effective. Therefore, look for a comprehensive insurance solution that confines the basic financial goals into a single plan. Role of Term Insurance Plan And a term insurance, being a pure protection plan, serves this purpose well. A term insurance plan is a low-cost, high-cover (sum assured in insurance parlance ranges from Rs 25 lakh to Rs 5 crore usually) plan. Based on your age, life cover and the period for which you want protection, the premium is calculated. Calculate your premium here. If a family loses the bread earner, before a specific goal is achieved, the proceeds of the term insurance plan come to their rescue. In fact, nothing comes close to a term insurance plan if your primary need is to provide financial security to your family. Getting Total Protection Edelweiss Tokio Life has a promising solution and a complete protection tool to offer for your familys future. Edelweiss Tokio Life Total Protect Plus is a term insurance plan offering total protection Whats more, the plan also covers death claims arising out of Covid-19. And, what makes it a compelling buy is the 6 per cent discount in the first-year premium, if you get the medicals completed within 7 days of purchase (login). What distinguishes and makes Edelweiss Tokio Life Total Protect Plus an inclusive plan are the two key optional benefits Better Half Benefit: Home makers may not be contributing directly towards family income as they may not have an income of their own, but they still happen to manage finances and household budgets. The value that they deliver in the upbringing of the children and the well-being of the family has its own economic importance. For recognising their financial contribution towards the family, Edelweiss Tokio Life Total Protect Plus gives you the option to secure the spouses life, by paying an additional nominal premium. The Better Half Benefit Option is a life cover for your spouse (which is equal to 50% of base life cover, and a maximum of 1 crore) and gets triggered after the death of the Life Insured. This helps the family get the additional protection cushion. Child They put their best foot forward in helping their kids realise their dreams and aspirations. Typically, by age 25, children start earning and become self-sufficient but until then as a parent, you leave no stone unturned to facilitate their educational requirements. Edelweiss Tokio Life Total Protect Plus helps secure this goal through the Child Under it, in addition to the base life cover, one can opt for an additional coverage (from 10% to 100% of the base sum assured) by paying a nominal premium. This will be provided to the child if the death of a parent happens before the child turns 25. By opting for this benefit, you take care of your familys protection needs as well as the childs education needs under one plan. While your family can maintain the standard of living, your child dreams of aiming higher are also not compromised. Option to Cover till Age 100: There are uncertainties abound and even though you may have a meticulous plan, a financial exigency can emerge anytime. At times, there are some financial goals that remain un-achieved even during old age. In the Edelweiss Tokio Life Total Protect Plus plan, the maximum age at the maturity of the plan can be up to 100. So, you can buy the plan with a policy term equal to 100 minus your age and secure a cushion for the family to fall back upon. Pay out Options: Not all family members may be able to utilize the death proceeds (sum assured) properly and optimally. As a policyholder, you have three options for the family to receive the death proceeds – Lump Sum or Monthly Income or Lump Sum plus Monthly Income. Depending on how safe and secure it will be for your family to manage the death proceeds, you can decide if you want to give the sum assured at one go in Lump Sum, or bit by bit as a regular income or a combination of both. 5 Riders for Enhanced Protection You may add Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider, Hospital Cash Benefit Rider, Critical Illness Rider, or the Waiver of Premium Rider to your base term insurance policy for a more inclusive protection. By opting for these Riders, you get increased protection against critical illnesses, disabilities, and accidents, thus covering risks from all fronts. Total Protection In addition to addressing the life insurance needs of the family, it recognises and provides for insuring the life of your spouse too. And the additional life cover during the childs growing year is the icing on the cake! So, without further ado, choose the Edelweiss Tokio Life Total Protect Plus as the term insurance plan for all your life protection needs!
By Rajesh Mehta Dr. Badri Narayanan Gopalakrishnan We all adore Lord Krishna for His omnipotence, omnipresence and omniscience, in addition to the sweet naughty nature as a divine Child and infinite affection for His devotees. Irrespective of one He is particularly recognized as the main inspiration to the whole Bhakti movement, which is all about complete surrender and unalloyed unconditional devotion to God. But for His instruction of the Holy Gita to Arjuna, we would have been deprived of learning about the most important virtues of life. Major texts like Shrimad Bhagavta, Bhagvat Gita Adi Shankarachaya While his devotional, cultural and spiritual greatness are well-known, on this day of his birthday, it is important for us to reflect on the relevance of His life and activities for today Let us first think about Sustainable Development Goals (SDGs); these are classified broadly into social, economic, environmental, political and health goals. A major social challenge in India even today is the discrimination along the caste system; Lord Krishna clearly mentions that the jati is based on one Himself being born in the cowherd community and then ruling kingdoms as a Kshatriya and articulating the deepest secrets of life in a philosophical way as a greatest Brahmin ever. Therefore, He is accepted by all communities equally, and has dispelled the myth of hierarchy in castes long before the modern-day anti-caste warriors were born. He also explicitly articulates that the Brahmana is one who sees the same soul in every living being beyond any differences among them. Here is a quote from Gita: He who sees the supreme Lord dwelling alike in all beings, the Imperishable in the things that perish, he sees indeed. For seeing the Lord as the same, everywhere present, he does not destroy the self by the self, and thus he goes to the highest goal. (Gita 13.28) Another social challenge is gender inequality, which was again attacked by him in different ways in different contexts, such as saving Draupadi, respecting and loving his biological and foster mothers equally. Also, we never worship him in isolation, but with Radha, Rukmini and Satyabama, which also shows the importance given to women even at that level. In fact, both the Gaudiya Vaishnava Sampradaya by Lord Chaitanya (East India) and Sri Sampradaya by Ramanujacharya (South India), give utmost importance to Radha and Lakshmi respectively, for a soul In terms of economic inequality, he has always advocated charity and helping the poor people. We can think of at least two examples; the beautiful concept of Akshayapatra vessel which can feed any number of people anytime, has inspired the globally renowned mid-day meal scheme for school-going poor kids, under the same name started partly by ISKCON, which is dedicated to Lord Krishna. Secondly, we can think of Sudama, the great friend of Krishna from his childhood, who was welcomed by Him wholeheartedly despite the huge economic and status difference between them, and miraculously also made him rich in a moment. Finally, His advocacy of focusing on our duties and being non-attached to results helps all of us to stay focused on doing good and helping others without greed. Furthermore, in these times of Covid pandemic, only generosity and selflessness of the society, which can only be found in people devoid of greed, can help the vulnerable sections of the population. On both environmental and health goals, most researchers agree that a vegetarian diet is both better suited for health and less emissions-intensive. Lord Krishna clearly mentions in the Gita that he only accepts Patram (leaf), Pushpam (flower), Phalam (fruit) and Toyam (water), which is what He implicitly advocates for us to eat. Similarly, in another beautiful verse in Gita, He says that food-crops can flourish with the rains, which in turn, can happen only with Yagnya (sacrifices). There are many different interpretations of Yagna, and we can comfortably fit in the nature-conservation efforts advocated by scientists today, such as afforestation, sustainable practices in farming and manufacturing, circular economy, etc., under this umbrella. The political aspects of SDGs mainly concern the strength of institutions, justice and peace. His focus on the greater good for everyone or Dharma was so high that He thought beyond the concept of Ahimsa, whenever necessary and after trying his best to avoid Himsa, even resulting in the grand Mahabharata war. Any reader of the epic would concur that Krishna left no stones unturned for negotiating with Kauravas to avoid the war and only when He realized it was inevitable, the war had to happen. This is quite similar to the concept of pareto-optimality, wherein everyone is better off and nobody is worse off due to a development. This is because even many of the losing Kauravas also attained swarga(heaven) or a better birth in their next life, while the Pandavas were definitely better off. His impeccable diplomacy, negotiating skills and steadfast focus on justice and peace in real spirit, are consistent with these political aspects of SDGs as well. Today We often talk about one of the most desirable qualities of any business or policy leader as being easily approachable, down-to-earth and humble. Lord Krishna is worshipped by millions of people, not out of fear or respect, but out of love, because He has this quality of There is a lot to learn in this regard for the modern leaders We also have terms like B2B, B2C, etc., but what Krishna advocates is S2S, which is Soul to Soul. If business or policy ideas are soul-touching and deeply spiritual thought about, they can be very successful, because they address not the outward material or temporary comforts, but what matters for the soul, which is the highest need at any point of time. Without addressing the soul in which Krishna Himself resides, we cannot solve any of the problems facing the world. This is what Lord Krishna says in one of the most widely regarded Slokas of Gita (18.66), to leave everything else and focus on Him; with this sloka, we conclude: I shall liberate you from all sinful reactions; do not fear. Dr Badri Narayanan Gopalakrishnan is a leading international economist and consultant. He is the Founder of Infinite Sum Modelling LLC, Seattle, Senior Economist at University of Washington Seattle, Non Residential Senior Fellow at ECIPE Brussels and CSEP (formerly Brookings India). Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)
Tata Motors posted a growth of 53% in August 2021, compared to last year. The carmaker sold a total of 54,190 units in August 2021, compared to selling 51,981 units in July 2021, a month-on-month growth of 4%. The total sales include commercial vehicles as well, sold in the domestic market. In the passenger vehicle category, Tata Motors sold 28,018 units in August 2021, which is negative growth of 7% compared to last month (July 2021), but when compared to August 2020, it is a growth of 51%. In the passenger vehicle category, Tata Motors sold 26,996 units of ICE vehicles in August 2021, as opposed to 29,581 units sold in July 2021, and 18,277 units in August 2020. Electric vehicles, however, have seen steady growth. Tata Motors sold 1,022 units last month, compared to selling 306 units in August 2020. This is a year-on-year growth of 234%. In the commercial vehicles segment, Tata Motors sold 26,172 units in July in the domestic market, compared to 21,796 units sold in July 2021 and 16,837 units in August 2021. Commercial vehicles export stood at 3609 during August 2021, registering a month-on-month growth of 76%, and year-on-year growth of 243%. Tata Motors, in a release, mentioned, Semiconductor shortage continues to impact the auto industry globally. The recent lockdowns in East Asia have worsened the supply situation, and hence Tata Motors is forced to moderate production and offtake volumes in the coming months. The situation is fluid and we will continue to work to mitigate the impact of this, and aim to meet our customer orders through an agile, multi-pronged approach, including close engagement with our extended supply chain partners, procuring chipsets from the open market, using alternate chips, and managing our model and trim mix. Specifically, EV sales crossed a crucial threshold of 1000 units this month. The order book is strong and we aim to meet the robust demand to the best of our abilities despite the supply challenges.
Zomato shares fell 5 per cent to Rs 120.60 apiece on BSE in intraday on Tuesday, following a 9 per cent crash in the previous session. The stock has been reeling under pressure as the lock-in period for anchor investors has ended. Analysts say that the end of the one-month lock-in period for anchor investors along with problems in the US operations have led to a meaningful correction in Zomato shares. The lock-in period for anchor investors ended on Monday, so some profit booking was seen and also considering the current sell-off in broader markets, the stock corrected 15 per cent in two days. However, there is no change in fundamentals and long-term investors are advised to maintain their position with stoploss of Rs 105, Rahul Sharma, Co-Founder, Equity99, said. Zomatos IPO paved the way for a new era as the company gained huge value on listing due to its unique business model, being the first of its kind listed company. It also attracted humongous anchor books. Although the company is loss-making it is enjoying good valuations considering future prospects, Sharma added. Zomato shares were still 6 per cent up from a 52-week low, touched on 23 July, while shares have come off nearly 20 per cent from all-time high level. Analysts say that Rs 120 is an important level. Technically, Zomato shares look weak on the charts and a daily close below 120 could trigger a further correction till Rs 104 in the near term. While 131 will be strong resistance, AR Ramachandran, Co-founder Trainer, Tips2Trades, told Financial Express Online. In the traded volume terms, 12 lakh shares have exchanged hands on BSE, and 2.78 crore units traded on NSE, so far in the day. Recovering from days low, Zomato shares were trading at Rs 123.95, down 2.40 per cent around 11 AM. ICICI Securities, in its recent report, termed Zomato as a value stock. Initiating the coverage of Zomato, the domestic brokerage and research firm said that the food-tech giant could scale as much as 70 per cent from current levels. Astha Jain, Senior Research Analyst, Hem Securities, expects further selling before forming base at around Rs 110-115 level. Long term investors may continue to hold as we expect that with the company consistently gained market share over the last four years to become the category leader in the food delivery space in India in terms of GOV, going forward , funds deployment towards customer and user acquisition retention expanding delivery and technology infrastructure will increase the growth prospects of the company, Jain added. (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.)
As Covid-19 vaccine doses for children are in the offing before the third wave of pandemic kicks in, the National Immunization Technical Advisory Group (NTAGI) recently informed that children above the age of 12 with comorbidities will be given priority for immunization. The Drug Controller General recently gave its nod for the emergency use of Zycov-D, a COVID-19 vaccine developed by the Ahmedabad-based pharma firm, Zydus Cadila group. Zycov-D will be India According to Pankaj R Patel, chairman of Cadila Healthcare, the vaccine showed 66 percent efficacy. The clinical trials were conducted on over 28,000 subjects that included adolescents and when the Delta variant was prevalent in India. The three-dose cycle comes in the interval of 28 days and 56 days, respectively from the first dose NTAGI chief NK Arora said that a part of the supply of this vaccine will be set aside for comorbid adolescents. Process for approval of Bharat Biotech However, vaccinating the adults or ones above 18 will remain the priority, and about 10 crore Covaxin doses will be produced per month from September, he added. Earlier this month Union Health Minister Mansukh Mandaviya hinted at vaccination for children to start as early as September. The Delhi government too is drafting a plan for vaccination of the children against Covid-19
By Nivedita Mukherjee Railtel, one of the largest telecom infrastructure providers in the country, is betting big on project delivery and opportunities in health and education to become a major player in digital services, Puneet Chawla, CMD of the Mini Ratna enterprise, tells Nivedita Mukherjee. RailTel has achieved consolidated income of Rs 315 crore in Q1 of FY22, a growth of 21% on a very low base. How do you view the performance? In the past year, the focus of organisations across sectors has been on digitalisation. Our portfolio of services caters to almost all facets of an organisation Demand for HD video-conference, data centre, IBW, VPN services is growing. RailTel39 times. Our market cap was Rs 3,000 crore when we went in for the IPO and we have now reached around Rs 4,172 crore. We are on the right track to post higher revenue growth this year as well. Looking ahead, which are the likely growth drivers for RailTel? Right now, apart from Railways, our focus is on the health, education and defence sectors. We are also providing IoT, AI-based solutions to clients which will open up new revenue streams. Railwire remained quite inactive for some years with a low subscriber base, but that base has reached four lakh customers across India owing to the rise in work-from-home and educational institutes taking up online classes. In the months to come, we expect an increase in this base, coming especially from the rural side, which presents a big growth opportunity. RailTel is working on the government We have recently empanelled our cloud service, RailCloud, with MeitY, which opens up opportunities to bid and win data centre and cloud service projects of governments. With the new draft data policy advocating storage of data within the country, we see a huge potential for our bundle of services related to this. In telecom, we have a focus on the infrastructure service. We have 1,000+ towers pan-India, through which we offer location services to other service providers like Vodafone Idea, Jio and Bharti. Projects have become a thrust area for RailTel. What is in the pipeline? Project business is one of the core areas of RailTel and we have a large number of them for Railways and various government organisations. [We have] about Rs 4500 crore worth of projects [right now] and we should be executing projects worth between Rs 700-800 crore in FY 2021-22. One major and new area is railway signalling and modernisation. RailTel has been entrusted with replacing old mechanical gears at 26 railway stations of Northern Railway with a computer-based electronic interlocking system. Another important project is installation of Wi-Fi at all railway stations. The Wi-Fi facility is currently available at 6,051 stations and is being offered free for the first 30 minutes of usage per day, after which the user has to purchase prepaid plans for high speed Wi-Fi by paying a nominal fee. We are also going to monetise the network through advertisement-based revenue, for which we are coming out with an EOI shortly. Besides, we are implementing e-office for Railways with the aim of replacing the manual filing system with digital file system and as on August 6, 15.71 lakh e-files and 90 lakh e-receipts have been created by Railway users of NIC e-office. RailTel has also been allotted work of video surveillance systems at 6,049 railway stations. Can you share your plans in the new focus areas like health and education? In healthcare, RailTel is providing a hospital management information system for Railways, which aims at digitising and improving hospital administration and patient healthcare in 125 major health facilities and 650 smaller clinics. Work at 154 hospitals\/ clinics has been completed. In education, the big opportunities are in providing AI-based, cloud platform solution for online remote proctored examinations, integrated learning management system and smart classroom solutions. We are implementing web- and AI-based attendance system for schools in Assam and are in talks with a number of universities and state governments for digital infrastructure. There is discussion for providing 50\/ 100 Mbps connectivity and Wi-Fi to all 645 Navodaya Vidyalayas. There is also a plan to go overseas by exploring the digital literacy programme in Kenya. What is the status of your plan to provide content on demand in Railways? RailTel is working on the implementation of CoD project to increase non-fare revenue of Railways and to enhance passenger experience. We will provide pre-loaded multi-lingual content on local servers which can be accessed on personal devices (phone, tablet) of passengers through on-train Wi- Fi access points in premium\/ mail\/ express and suburban trains, as well as Wi-Fi-enabled stations pan-India. The project will be implemented in two years and the earning from the project will be mainly through three streams: advertisement-based, subscription-based and e-commerce\/ partnership services. Pilot implementation of CoD in five Rajdhani rakes, one AC suburban rake over Western Railway and Chennai Express over Central Railway is in final stage of completion and testing.