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Delhivery on Wednesday announced the acquisition of Bengaluru-based Spoton Logistics. Samara Capital and Xponentia, which together acquired Spoton from IEP (India Equity Partners) in 2018, are making a full exit for cash as part of the transaction, the firm said in a statement. Delhivery did not disclose the deal value. The acquisition comes a little over a month after the IPO-bound company secured a fresh $100-million equity investment from FedEx Express, a subsidiary of FedEx Corp. The deal will bolster Delhivery Currently valued at about $3 billion, the logistics start-up turned unicorn in 2019 on the back of a $400-million funding round led by SoftBank. It claims to have fulfilled over 1 billion shipments and has more than 17,000 customers, including large, small e-commerce participants and SMEs. More importantly, we are well placed to provide benefits of synergies between our B2C and B2B express businesses to the customers of both Delhivery and Spoton, and further enhance our end-to-end supply chain capabilities, Spoton Logistics, which specialises in express logistics, operates a pan-India network covering more than 300 locations and over 22,000 PIN codes, according to the firm
By Yogita Tulsiani, A lot has changed in the last two years, especially after how Covid-19 struck and changed the way we used to live and work. Work from home was an alien concept, at least in India where this mode of working was limited to just a fraction of people but it is gradually becoming a norm given that the pandemic is far from over. At the same time, remote working is gaining popularity as well, as this way the workforce, which used to find it tough to find work-life balance, is able to find time for family, leisure, and other activities. Not just employees, even companies are also benefiting from it as they can save on a lot of costs, including rent, Utilities (electricity, Wi-Fi), maintenance, equipment, furniture, among others. In fact, big tech companies such as Google, Amazon, among others have announced plans to continue remote working for their employees even after the pandemic is over. Even hybrid working is also gaining popularity as employees are asked to come to the office two-three days a week, giving them flexibility. This means the trend is likely to gain momentum as its a win-win situation for all. But does it mean there are no challenges in this new style of working? The picture is not rosy at all as there are plenty of challenges both the employers and employees face. One of the primary challenges that businesses face is maintaining employee engagement with a scattered workforce. On the other hand, communicating and collaborating with team members, besides productivity and technological issues. This is just a start and there can be many ways to mitigate these issues, here are five key factors to keep in mind while working with a dispersed workforce: 1) Technology is the key: Technology can play a key role, use the right tools to maintain efficiency and coordination. Major businesses are dependent on automation, artificial intelligence, machine learning, etc. These can help not just with communication, but also with project management and document management. For example, Dropbox, Zoom, google docs, cloud storage, Slack, Hangouts, among other tools could be utilized to keep businesses and employees working remotely on the same page in the communications ecosystem. These tools offer quick communication without any limitation and can help run the daily operations smoothly. 2) Frequent communication: A distributed workforce may be the only way for some businesses but the primary problem for many employees and employers getting accustomed to remote working is smooth coordination. In normal times, people could be called in a conference room for meetings and discussions but they are all happening virtually now, thanks to platforms such as Zoom, Webex, Google Meet, among others. In everyday work, it gets tough to maintain fine coordination among team members and there can be many reasons for that. Hence, businesses will have to establish strategies that are suitable in the present circumstances. Businesses will have to connect with their scattered workforce in a different way. Frequent communications can resolve many issues organizations face these days and its essential for them to maintain face-to-face interactions with employees so that directions can be passed easily and are not misinterpreted. 3) Mitigate tech challenges: Both businesses and their employees are heavily dependent on the latest tech of the day to stay connected so that daily operations can be managed fluidly. However, not all employees are versed with the latest technology or may not have the tech ecosystem at their homes. It becomes important for businesses to ensure that the employees have the right tools to work remotely. 4) Defined working hours: Organizations should chalk out plans to have defined working hours for employees so that they are not asked to work at unusual timings. This has been one of the primary challenges for employees as they are expected to be available any time of day, which eventually results in disappointment and demotivation for the workforce. 5) Space for feedback: Managing communication can be challenging when workers are scattered. Set up a feedback system where employers can assess participation and productivity and provide feedback to the employees. This will prevent any decline in efficiency and productivity, at the same time, help employees share any concerns they may be facing. (The author is Director and Co-founder, iXceed Solution. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)
Sensex and Nifty have now closed flat for the second day straight but remain within touching distance of all-time highs. SP BSE Sensex closed yesterday Broader markets once again outperformed benchmark indices, except Nifty Midcap 50, which was down in the red on the closing bell. Bank Nifty continued to trade below 36,000 mark. Entering the final trading session of the week, SGX Nifty was trading flat, moving between gains and losses, signalling a muted opening to the days trade. Cues from global peers were largely negative. Dow Jones was down 0.54%, SP 500 fell 0.58%, and NASDAQ was down 0.64%. In Asia, Shanghai Composite, Hang Seng, Nikkei 225, and TOPIX were trading with losses. KOSPI and KOSDAQ were up in the green. Technical take: Nifty was range-bound on Thursday before closing flat with a positive bias. Technically, this pattern indicates a range bound action in the market with weak bias, Levels to watch out: Yesterday marked the close of the August FO series, where Nifty gained 950 points but now range-bound activity could be in the mix. However, we can expect a quick uptrend rally up to 16725-16775 levels if the index succeeds to clear the intraday resistance of 16680. Below the same, the correction wave could continue up to 16560-16520 levels, FII and DII trades: Foreign Institutional Investors (FII) were net sellers of domestic equities for the 8th consecutive trading session yesterday. FIIs pulled out Rs 1,974 crore from domestic markets. Domestic Institutional Investors (DII) were net buyers of domestic equities on Thursday, pumping in Rs 1,055 crore. Ami Organics IPO along with that of Vijaya Diagnostic Centre. While the latter is looking to raise Rs 1,895 crore from the IPO, the former59 lakh equity shares. Recent IPOs have made a bad trading debut on Dalal Street, opening at discount.
State-run banks will undertake a nation-wide loan outreach programme around October, finance minister Nirmala Sitharaman said on Wednesday, as the government seeks to stir economic growth through sustained credit push, especially to Covid-hit small and medium businesses, retail and farm sectors, amid fears that bankers have turned risk-averse. Addressing media after her meeting with chiefs of public-sector banks (PSBs) in Mumbai, Sitharaman said the lenders disbursed loans of as much as Rs 4.94 lakh crore through a similar outreach programme in various districts between October 2019 and March 2021. Commenting on the operationalisation of a so-called bad bank, financial services secretary Debasish Panda said the Indian Banks A proposal for offering sovereign guarantee on security receipts issued by NARCL while acquiring bad loans from lenders is under consideration, he said. Such a guarantee would cost the exchequer about Rs 30,600 crore over five years, according to an earlier IBA estimate. NARCL was incorporated last month in Mumbai and once it gets the licence, stressed assets worth about Rs 83,000 crore could be transferred to it in the first phase. Sitharaman said various sectors of the economy-including exports, fintech and the sunrise ones-need credit support and banks need to satiate this appetite. State-run banks have been asked to hold talks with exporters and various associations to support their loan requirements. This will also provide a leg-up to the one-district-one-product export theme mooted by the Prime Minister. Credit flow in recent months remained muted, remaining one of the biggest problems for policy-makers. Growth in non-food bank credit slowed to 5.9% in June from 6% a year earlier. Loans to industry, in fact, contracted by 0.3% in June from a 2.2% increase a year before. That Similarly, PSBs have been directed by the minister to firm up specific plans for each of the north-eastern states to boost credit flow there. Some of the eastern states, such as Odisha, Bihar, Jharkhand and even West Bengal, account for a sizeable chunk of PSBs This needs to be addressed, the minister said. With changed times, now industries have option of raising funds even from outside the banking sector. Banks themselves are raising funds through various avenues. These new aspects need to be studied to target credit where it is needed, Sitharaman said. Panda said state-run banks have turned the corner, with profits of Rs 31,820 crore in FY21, the highest in five years. Their strong financials enabled them to raise Rs 58,697 crore from the markets in FY21, including an equity capital of Rs 10,543 crore. Their plans to raise an additional Rs 12,000 crore so far this fiscal have gained traction as well. The net bad loans of state-run banks dropped to 3.1% in FY21 from as much as 7.97% three years earlier, Panda said. Similarly, their capital adequacy (CRAR) was about 14%, against the requirement of 10.875%. Commenting on the progress of the Rs 7,500-crore credit guarantee scheme to facilitate concessional loans to as many as 25 lakh small borrowers through micro-finance institutions (MFIs), Panda said loan proposals worth Rs 10,000 crore have already been received. In the next 30-45 days, the loans will be disbursed. Similarly, credit of Rs 2,600 crore has been disbursed to street vendors under a scheme announced last year. Revenue secretary Tarun Bajaj said the direct listing of domestic firms overseas is under discussion; this could require changes to certain Acts. In a relief to families of bankers, the government also raised the family pension for bank employees to 30% of the last-drawn salary. Earlier, kin of a deceased PSB employee used to get a maximum of Rs 9,284 per month as a family pension. Now, this cap is removed, which will result in the family pensions rising to as high as Rs 30,000-35,000 a month, Panda said. Similarly, the finance ministry has also decided to increase the employers contribution to the New Pension Scheme (NPS) to 14% of the salary from the current 10%.
Warren Buffett21 billion so far this week from just three stocks. The largest contributor to Warren Buffett As the stock surged higher this week, Buffett The billionaire investor, who turned 91 earlier this week, is known for his investing methodology and picking stakes in multi-baggers. Berkshire Hathaway owned 907 million shares of Apple at the end of December last year. The value of Apple shares in Berkshire Hathaway The same has now soared to $139.44 billion, assuming Warren Buffett and his partner Charlie Munger have not sold any Apple shares since then. Earlier last week, at Friday86 billion, translating to a little over $4.58 billion in profit just this week. So far this year, Apple stock price has soared 18.7%. Apple is the largest stock holding, in terms of value, for Berkshire Hathaway. At the end of September 2020, Berkshire Hathaway owned 944 million shares of Apple but later Warren Buffett decided to trim some of their holdings in the technology giant. Warren Buffett, earlier this year, acknowledged that selling those Apple shares was a mistake that Charlie Munger had warned him against. The other stock that helped the Oracle of Omaha pocket profits this week was The Coca-Cola company. Berkshire Hathaway owned 400 million shares of the company at the end of the previous year, valued at $21.93 billion. Since the market closing last Friday, the stock has jumped 2% so far, adding $444 million to Berkshire Currently, the value of Coca-cola shares in the Berkshire Hathaway portfolio is $22.7 billion. On a year-to-date basis, the stock is up 7.6%. Financial Services major Moody Moody08% since last Friday With this surge in the stock price, The value of Warren Buffett90 million. Berkshire Hathaway owns 24.66 billion shares of Moody51 billion. So far this year, Moody
What is the #1 Wealth Generation Strategy swered by most billionaires in India today? What is the #1 Wealth Generation Strategy 48 per cent Indian millionaires rely on to make a fortune? Want to expand your wealth earnings without you working hard for it? Have you been able to effectively utilize the money-stretching power of specific wealth investment strategies that have outperformed nearly every other Traditional investment in the last few decades in India? Look, the days when real estate gave returns of approx. 35% YOY is history. Its now left down to meagre returns of just 4-7%. Gold is losing its standard returns capacity. And we know that fixed deposits and bonds will fall flat against inflation and the biggest mistake is storing a part of your remuneration into saving. It will never grow on its own. Its like you working hard to make money. Instead of making your money work for you. Undoubtedly, 83 per cent of millionaires acknowledge Smart Investing as a key to their fortune and 48 per cent of millionaires What I want to bring to your notice is, in the long run, investments that have appreciated far greater than anything else in the investment asset classes are Hedge Funds, Arbitrage, Stocks Portfolio, SIPs, Private equity, etc. You see, people rely on traditional investment assets because of tangibility, capital appreciation and low risk. But the much greater threat is the down and sluggish return on these investments that may not even stand against inflation in a decade or two. After all, why would anyone want to get minimal returns on their investments when you can get a dazzling rate of compounding returns per annum in the long term? To create massive wealth, investors must choose some quality mid-cap stocks today, so that would become a large-cap potential stock in the near future. Opportunities are being presented by the market. When people come to me and say, Hey, Videsh, isnt it sceptical to invest in Currencies \/ Stocks and Commodities like copper \/ Crude Oil? I show them how I religiously use an organized system, discipline, and patience to mitigate uncertainty and Harness fantastic Opportunities. And with this straightforward guidance, they make more informed productive decisions. Consider this; recently stock markets hit a record high, i.e Sensex 56,198, Nifty 16,722. Twenty years ago, NIFTY was at mark 900, and now it has zoomed to the mark 16,722, which means a staggering 1755% appreciation. Thats the astonishing power of compounding. Consider this, over the last 20 years, the stock market has grown at a CAGR of 17%, giving the greatest returns of any asset class in India. Fabulous, isnt it? It reflects investors optimism about investing in the Indian economy new companies \/ business through stock exchanges, even in a global pandemic crisis. Plus, many of the stocks today are selling at a significant discount to their intrinsic value, and they are going to explode in the next 5-7 years, making their investors filthy rich. I see an utterly predictable, virtually unstoppable and absolute massive uptrend in front of me. In this upward shift that virtually guarantees soaring profits, the question is, how much you will be able to grab and keep in your vault? Now heres the biggest problem, because of the lack of knowledge and improper guidance, most everyday investors ignore these wealth-building opportunities and could never enjoy the Exponential wealth-building process with the power of compounding. A very powerful proverb says, The best time to plant a tree was 20 years ago. The second best time is now. And since compounding means to earn profit on profits, the sooner you start, the sooner you will be able to grow your investment portfolios at a geometric rate. Since its a matter of your wealth, consult an expert who has a proven track record and can accurately guide you with the best portfolio investment strategy based on your wealth goals, earning and lifestyle. (By Videsh K Totaare, MD CEO, Archers Wealth Management Pvt Ltd) Disclaimer: These are the authors personal views. Investors are advised to consult their financial planner before making any investment.
COVID-19: While the coronavirus pandemic is still ongoing, airports are a key point of entry and exit as restricted domestic and international travel is allowed in India. This is especially true for the Delhi airport, which is among the busiest airports in the country and is therefore a high-risk zone for employees in particular. Accordingly, looking at the severity of the situation, the Delhi International Airport Limited or DIAL – which is a consortium of GMR, Airports Authority of India and Fraport and looks after the operations and maintenance of the Delhi airport – has signed an agreement with Medanta Hospital in order to set up a COVID Care Centre at the airport. The centre would be established at Terminal 2 of the Delhi airport, and it is expected to become functional in early September. Catch live updates on coronavirus here The decision has been taken in view of the threats of a third wave of the virus, and it would aim to provide the employees and their family members (including children) with the necessary facilities in case any of them is feared to have been impacted by the infection. As per a statement issued by airport management, the centre would have state-of-the-art facilities which would allow for isolation, clinical treatment, and clinical support to asymptomatic, mild and mild-to-moderate cases of COVID-19 infection among the employees of GMR or their family members until they can either be transferred to a hospital or discharged to go back home. The agreement requires DIAL to look after the day-to-day functioning of the COVID Care Centre, and all the medical support to this facility would be provided by Medanta Hospital. Medanta would be looking at the supervision of the medical personnel, the protocols regarding treatments, the support for microbiology, radiology and pathology, care for patients, admission of patients that are critically ill at the Medanta facility and emergency evacuation among others. Moreover, 15 paediatric High Dependency Unit or HDU beds, 18 HDU beds for adults, as well as 52 isolation beds have been allocated for the facility that is being set up at the Delhi airport. Apart from this, arrangements of 85 oxygen concentrators have also been made here. Cameras based on AI to monitor activities inside the centre have also been fitted here along with all of the other medical equipment.
After unveiling the Hyundai i20 N Line a few days ago, Hyundai has now launched the i20 N Line in India for 84 lakh, ex-showroom. The Hyundai i20 N Line is available in two variants, N6 and N8. The first hot hatchback from Hyundai, the i20 N Line, is available with a standard 1.0-litre petrol engine in two variants and a choice of two gearboxes. Hyundai i20 N Line engine specifications and performance The newly-launched Hyundai i20 N Line gets a 1.0-litre turbocharged petrol engine from the carmakers GDI lineup. The engine is the same unit seen in the i20 turbo currently on sale in India. The three-cylinder unit makes 118 bhp and 172 Nm of torque with the help of an iMT unit, or a 7-speed DCT gearbox with paddle shifters. The South Korean carmaker claims that the Hyundai i20 N Line can do a 0 to 100 km\/h sprint in 9.9 seconds. The Hyundai i20 N Line iMT returns a mileage of 20 km\/l, while the DCT trim returns 20.25 km Hyundai i20 N Line design The i20 N Line gets a host of design changes to set it apart from the regular hatchback. To start with, the front grille gets a chequered flag-inspired design, sportier front and rear bumpers with red highlights, dual exhaust tips, and a new wheel design. The Hyundai i20 N Line also gets red brake callipers. The red accents continue inside the i20 N Line as well, and the new leatherette seats get the chequered flag treatment too. The steering wheel is redesigned and the car gets metal pedals for a sportier feel. Also, something in abundance with the i20 N Line is the N logo on the seats, wheels, steering wheel, and on the exterior bits. Hyundai i20 N Line features Speaking about the features, the Hyundai i20 N Line gets a host of creature comforts. The i20 N gets a 10.25-inch infotainment system with smartphone connectivity, navigation, voice command, wireless charging, push-button start, sunroof, and a 7-speaker Bose music system amongst others. The Hyundai i20 N Line also gets connected car tech, Hyundais Bluelink feature that offers 58 connected car features. New Hyundai i20 N Line safety Safety features are increasingly becoming an important factor. The Hyundai i20 N Line gets Hill Assist Control, Electronic Stability Control, Vehicle Stability Management, automatic headlights, six airbags, ABS with EBD, and a tyre pressure monitoring system. Also, the Hyundai i20 N Line gets disc brakes on all four wheels, as opposed to two disc brakes in the front with the regular i20. Here are the variant-wise prices of Hyundai i20 N Line:
The Job I love the endless scope for innovation in the beauty industry. I also love the real-time, conversational interactions with consumers. I also enjoy coming up with creative hacks for everyday problems related to packaging, formulation and supply chain, as well as the opportunity to contribute some The Weekdays I am a late sleeper, so I wake up not too early I check mail and messages as soon as I wake up; reading hard copy newspapers are I begin work at 9.30, and my day mostly comprises back-to-back meetings, more so since the pandemic started. I leave office at around What I look forward to most at work is problem-solving with my colleagues. The sense of accomplishment there is a reward in itself. The Weekend I am not much of an Sometimes weekends include conversations with long-lost friends that can My ideal weekend would include a lot of fresh air, fresh thinking and moderate exercising The Toys I cannot do without my phone and laptop. I I also love my bicycle and the sense of freedom it gives me. The Logos I like Amazon for its reliability, Skoda for its quality and premiumness, and iD (the food brand) for its consistency. Read Also: Twitter rolls out Super Follows app; enables creators to monetise exclusive content Follow us on Twitter,Instagram,LinkedIn,Facebook
India GDP Highlights: India1% during the April-June quarter of this financial year, as against a 24.4% contraction seen during the same period last year. The massive growth seen in the first quarter has made India the fastest-growing major economy across the globe. India38 lakh crore, however still lower than the Rs 35.66 lakh crore seen in the first quarter of 2019-20, signalling that India is yet to emerge from the covid induced slump. The construction sector3% higher than the previous year. The services sector grew at 3.7% from the year-ago period.6%. For the full financial year 2020-21, India3%.