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BPO company Starteks India unit has recorded operating income of USD 2.6 million in the second quarter of 2021, a senior official of the company said on Thursday. The company, which follows January-December financial year, had posted a loss in the same quarter a year ago due to the COVID-19 pandemic, Startek global chief financial officer Vikash Sureka told PTI. Startek India revenue grew by about 44 per cent to USD 24.07 million in the second quarter of 2021, from USD 16.67 million in the same period a year ago, he said. The India revenue includes Sri Lanka business as well, the company said, adding that the main business is significantly driven from India. India contributes around 12-13 per cent to the global revenue of Startek which entered into India with acquisition of Aegis BPO. The company employs over 18,000 people across 17 business process management centers with a spread across tier 1 and 2 locations such Lucknow, Bhopal etc. Startek global net revenue increased by 33 per cent to USD 189 million during the reported quarter, compared to USD 142.2 million it recorded in the corresponding quarter of 2020.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices fell in India on Wednesday, on the back of weak global cues. On Multi Commodity Exchange, gold October futures were trading Rs 258 or 0.54 per cent down at Rs 47,354 per 10 gram, as against the previous close of Rs 47,612. Silver September futures also fell Rs 412 or 0.65 per cent to Rs 63,062 per kg. In the previous session, silver futures ended at Rs 63,474. Globally, yellow metal prices fell as the dollar ticked higher, with investors awaiting Federal Reserve Chair Jerome Powells speech this week for possible guidance on tapering of the pandemic-era stimulus. Spot gold fell 0.4 per cent to $1,796.03 per ounce, while US gold futures 0.6 per cent to $1,797.50, according to Reuters. Bhavik Patel, Senior Technical Research Analyst, Tradebulls Securities Gold once again failed to sustain above $1800 and has clawed back to $1794. Right now profit taking is evident before the Jackson Hole symposium this weekend and if gold takes out Monday Gold needs to sustain above $1810 and we believe it will only come after the Jackson Hole symposium is concluded. The economic environment that drove gold prices to record highs last year remains firmly in place however gold is struggling in the near term as markets brace for a shift in U.S. monetary policy. We expect gold to test lows of 47200-47100 where fresh long position can be taken with stoploss of 46850 and expected target of 47500-47700. Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart Comex gold manages to break the 1800 resistance mark on the back of some weakness in the dollar index but still, it has resistance in the 1805-1835 supply zone so there is a risk of profit booking from here. 1790 will be the immediate support level while 1775 is a critical support level and ahead of Jackson Hole Symposium on Friday sideways to positive momentum can be seen. MCX gold has immediate resistance at 47800 whereas support can be seen at 47450-47500 and below that 47000 will be the major support level. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities COMEX gold trades 0.7% lower near $1795\/oz after a 0.1% gain yesterday. Gold fell after failing to build on the gains above $1800\/oz level. Weighing on gold is some recovery in the US dollar index after recent losses, improved risk appetite and continuing ETF outflows. However, supporting price is mixed US economic data, persisting virus risks and geopolitical tensions relating to Afghanistan. Gold has slipped back below $1800\/oz on Fed uncertainty however increasing risks to the global economy may keep prices supported. Sandeep Matta, Founder, TRADEIT Investment Advisor Gold is hovering around the $1800\/oz level while lack of participation is clearly visible as the market participants await the Fed chairman Gold is still trading below 100 DEMA level which is at $1810 and a major technical resistance to cross. Gold on MCX also traded moderately high throughout the day however volume action is not encouraging. The momentum indicators are higher and suggesting a profit booking from these levels therefore our outlook for today is negative. Key level for GOLD AUG Contract Financial Express Online does not bear any responsibility for their advice. Please consult your investment advisor before investing.)
The ongoing serological surveillance on COVID-19 in Odisha will focus on those below 18 years as the rate of infection among children and adolescents is on the rise for the last two weeks, officials said on Tuesday. The rate of infection among those below 18 years has gone over 17 per cent, which is alarming, they said. Though all previous serological surveys in Odisha were done among adults, the high rate of infection among the minors prompted the authorities to shift the focus, they added. The state-level survey is being carried out in 12 districts at a time, officials said. The survey is being conducted by the ICMR Regional Medical Research Centre for the first time after the expansion of the vaccination programme. Till August, Odisha has administered 2,17,83,156 doses of COVID vaccines. As decisions on opening of education institutions and targeting the last mile in immunisation need to be made in the near future, it is crucial to generate evidence on the exposure of children and adolescents, the unvaccinated group, to the virus, a senior member of the survey team told PTI. Besides, there is also the need to assess the immunity among the vaccinated group, particularly the healthcare workers, he said. The serological survey will estimate and compare the age-specific prevalence of SARS-CoV-2 antibodies in the general population and healthcare workers across the state from August 30 to September 20, the official said. The survey, a first in the state with such a large sample size, is being conducted with funding support from the state Health Department. Serological surveys have been useful in making public health policy at the national and state levels, the official said. It helps in prioritising resources, planning for progression of the pandemic, imposition and removal lockdowns and other measures, he said. The vaccination coverage among the public will also be estimated through this survey. The survey is being conducted in Khurda, Puri, Jajpur, Mayurbhanj and Balasore in the central region, Sambalpur, Jharsuguda, Keonjhar and Sundargarh in the northern zone, and Kandhamal, Kalahandi and Nabarangpur in the southern part of the state. A total of 40 samples from the community (randomly) and 100 from the healthcare workers (purposely) will be collected from 137 clusters across the 12 districts, the official said. Altogether 6,680 samples – 1,200 from healthcare workers and 5,480 from the community – will be collected. The community samples comprise of children aged between 6 and 17 (1,644 samples), and adults (3,836), the official said. In the last 24 hours, Odisha detected 638 new COVID-19 cases and 68 deaths, a Health Department official said. Among the new patients were 110 children, he said. The state has so far reported 10,07,750 cases and 7,969 fatalities. The rate of infection among children was 17.24 per cent as against 15.92 per cent on Tuesday. Khurda district recorded the highest number of new cases at 260, while Cuttack district alone accounted for 22 deaths. There are 7,255 active cases in the state at present. So far, 9,92,473 patients have recovered, including 843 on Tuesday.
Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 posted record closing highs on Monday, supported by broad-based buying in blue-chip counters. The 30-share Sensex surged 765 points or 1.36 per cent to 56,889.76, and Nifty 50 closed the day at 16,931, rising 1.35 per cent or 226 points. Index heavyweights such as Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints and RIL, among others were the top index gainers. On the flip side, Nestle India, Tech Mahindra, Infosys and Tata Consultancy Services (TCS) were Sensex laggards. Barring the Nifty IT index, all the sectoral indices ended in green. Nifty Bank index surged over 2 per cent to settle at 36,348.
The Indian Army soldiers are now protected against 9 mm carbine bullet strikes with the new `Made in India The new helmets were the first major contract for modern composite helmets placed under Make in India initiative, and the contract between Kanpur based MKU Ltd and the Ministry of Defence was signed during the tenure of the then defence minister Late Manohar Parrikkar in 2016. The contract was for 1, 58.279 Bullet Proof Helmets (BPH). Vaibhav Gupta, Director and Head of Domestic Operations, has confirmed to Financial Express Online on Friday that And the helmets supplied are already in use by the Indian Army in critical operation areas and are also being used by the Indian Navy.58 lakh BPHs are equipped with communication systems to be used by commanders. And these have been completely designed and manufactured in India by MKU, According to him the helmets were selected after undergoing extensive user and ballistic trials by the Indian Army in all types of terrains and firing trials. In stiff competition from the Chinese company, the export order from Nepal was the first for an Indian company. More about these Bullet Proof Helmets And the weight depending on the size varies from 1.2 kg to 1.4 kg. Specially designed to provide low trauma to provide protection from head injuries Lightweight and comfortable fit enables long period usage and there are no quality issues with these. According to the company officials the new Bullet Proof Helmets will be replacing the This was a sheet of armoured steel which was wrapped in canvas and was circular in shape. The new helmets are capable of protecting the soldier from the 9 mm carbine bullets which flies at twice the speed of sound, and the kinetic energy it delivers causes huge trauma on those who are wearing body armour and helmets. The new technologies used in these light weight helmets will ensure that the soldiers are protected against the impact of such bullets. The Indian Army has got these new hi-tech helmets after over two decades. The delivery of the order was completed over a span of three years. The story of helmets in the Indian Army In the 90s when the Army was deployed to fight insurgency in J K, the soldiers were equipped with 1974 model fiberglass helmets. These were not adequate enough to protect the soldiers against flying bullets and splinters. The `Patka It was not enough in preventing injuries due to blunt trauma and the top portion was open. What do the new helmets have? There will be support for various accessories including the visors, face shields and night vision goggles.
Many consider owning a home to be one of the biggest financial goals of a lifetime. A home not just gives shelter over our heads but also builds our identity and is something we plan to leave for our next generations in a bid to secure their future. In fact, according to BankBazaar7, despite the pandemic majorly affecting most of the facets of our lives in the last couple of years. The survey report also states the home ownership goal3, indicating that many still feel they have some distance to cover to be able to buy a house. Needless to say, buying a home isn At times, the cost of owning a home could be as high as 10-15 times your current annual household income if not more, especially if you plan to buy a property in a big city where real estate prices are very high. Understandably, most people, thus, take the help of a home loan to finance their home purchase which they repay with interest over a period of up to 30 years. Plus, there could be several other significant expenses that you might have to pay out of own resources. As such, it makes a lot of sense to be aware of these expenses while planning something as important as buying a home. Here are a few pointers that could help you make a rough estimate of the actual cost of buying a house with a help of a home loan. Down payment Home loans typically finance up to 90% of a property However, if your home loan is, say, above Rs 75 lakh, your lender may only approve up to 75% of the loan amount and the remaining 25% need to be paid as a down payment. For example, if your property is valued at Rs 30 lakh, your down payment requirement could be 10% of that amount, i.e. Rs 3 lakh. But if your property is valued at Rs 1 crore, you might have to shell out 25%, i.e. Rs 25 lakh in down payment. Home loan interest This is usually the biggest expense related to homeownership, despite most banks reducing their home loan interest rates to multi-decade lows in the last few years. The applicable home loan interest rate is ascertained by the lender depending on multiple factors, like the borrower Just to give you an idea, let Your LTV is 90%, so your home loan amount is Rs 27 lakh. If your lender approves the loan at 6.75% p.a. for a 30-year term, your EMIs would be Rs 17,512 for 30 years (assuming constant interest rate throughout the loan tenure) amounting to the total interest payable at Rs 36.04 lakh and total repayment amount at Rs 63.04 lakh. If the same individual plans to buy a home worth Rs 1 crore, his loan amount could be Rs 75 lakh, and at an interest of 7% p.a. for 30 years, his EMIs could be Rs 49,897, total interest Rs 1.04 crore, and total repayment amount Rs 1.8 crore. As such, it It Other charges associated with home loans Some additional charges are needed to be paid to the lenders under a home loan, such as loan processing fees, documentation charges, legal opinion charges, property valuation fees, etc. A loan processing fee is a non-refundable amount paid to the lender constituting a small percentage of the loan. Memorandum of Deposit of the Title Deed (MODT) charges The lender holds the title deed of the property during the tenure of the home loan until all dues are fully cleared. Lenders charge a fee for holding the title deed called MODT charges, which usually range 0.1% to 0.3% of the home loan amount and may vary from state to state. Stamp Duty and Registration charges State governments levy stamp duty and registration charges on every property transaction. These charges vary according to the location, price and size of the property among other factors. Stamp duty and registration charges together add up to almost 3% to 6% of the propertys value. 1 lakh for a Rs 30 lakh property, and Rs 7 lakh for a Rs 1 crore property. Other expenses Apart from these, a homebuyer may also need to pay several other charges to the developer, including electricity and water charges, floor rise, municipal taxes, annual maintenance of society, and clubhouse charges (if any), which add up to a substantial amount. Also, under construction properties involve a GST payment. Then there are the monthly maintenance charges that need to be paid over and above the EMIs which are determined based on the super built-up area of the property and the amenities and location of the apartment society. Then comes the cost of furnishing the house that could also run into lakhs depending on your preferences and budget. You may also need to pay a sizable amount to movers and packers while shifting to the new house. So, how much do these charges add up to? Let Remember, these are just indicative figures and the actual costs may greatly vary depending on the type, size and location of the property. As such, a Rs 30 lakh property on a home loan could cost almost Rs 80 lakh in 30 years, while a Rs 1 crore property could cost Rs 2.38 crore during the same period. Do note, eligible first-time owners of affordable houses could also enjoy interest subsidies under the Pradhan Mantri Awas Yojana that could further reduce the costs. In conclusion, aspiring homeowners must plan well before taking the plunge and ensure they have adequate repayment capacity. They should also ensure their credit scores are over 750 throughout the loan tenure to avoid additional interest burden. Finally, they must carefully evaluate the affordability of their EMIs factoring in other key goals and liabilities as any laxity could hurt their finances. (The writer is CEO, BankBazaar.com)
Policybazaar.com has released new television commercials (TVCs) under its new campaign. The campaign titled While Indian consumers often procrastinate and neglect the benefits of having health and term life insurance, the campaign especially targets those individuals who defer their decision of providing insurance protection to their loved ones. Through its new TVCs, the campaign portrays some of the most non-sensical reasons cited by consumers for not buying insurance. However, the company has taken a humorous route in the TVCs which may attract more eyeballs as the ad films turn out to be light and enjoyable. In a reverse direction, the TVCs showcase most of the common problems faced by middle class families in case of medical emergencies in absence of proper insurance. The high medical expenses can put an end to a child All of the TVCs end with the note that Policybazaar.com has made it affordable for common people to buy insurance through monthly EMIs, as low as Rs 400 per month. The premise of the campaign is to make people laugh at a very fundamental human trait, The campaign comes against the backdrop of the fact that overall insurance penetration in India is extremely low, consumers are either underinsured or uninsured. Hence, the company hopes this campaign reaches out to maximum people and encourages them to take the first step towards insurance protection. Read Also: Work That Speaks | Ad Reviews | 26 To 31 August 2021 Read Also: Ramagya Mart ropes in Randeep Hooda as its brand ambassador Follow us onTwitter,Instagram,LinkedIn,Facebook
Delhi Chief Minister Arvind Kejriwal inaugurated the country Kejriwal said if the pilot project proves to be successful, it would lead to several such structures being installed in the city. The installation and inauguration of the smog tower come months before the city Smog towers are designed as large air purifiers. These towers have multiple layers of air filters and fans to suck in air. The air is then purified by the filters and re-circulated into the atmosphere. The 20-m tower at Connaught Place can improve air quality within a 1-km radius. Rai had earlier said the Connaught Place tower would purify 1,000 cu m of air a second. A similar tower has been installed at Anand Vihar, a pollution hotspot. The 25-m tower will become operational by August-end, the Central Pollution Control Board had said. Tata Projects Limited built both the towers in collaboration with IIT Delhi and with technical assistance from IIT Bombay. The smog towers are similar to those installed in China, which had tested the technology in Beijing and some of its other polluted cities. According to a report released in March, Delhi was ranked as the world5 levels. Delhi has struggled with severe air-pollution, which peaked in 2017 on both the PM 2.5 and PM 10 levels. This resulted in visibility going down, causing several accidents, including a 24-vehicle pileup on the Yamuna Expressway. Emissions from motor vehicles are among the major causes for the city Although pollution levels are worst between November and February, Delhi Fire at the Bhalswa landfill and fire-crackers rich in heavy metal also cause severe air pollution.
By Sorbh Gupta Indias retail inflation, measured by the Consumer Price Index (CPI), was higher than Reserve Bank of India (RBI In July, the CPI inflation eased relatively to 5.59% year-on-year. However, this time, the retail inflation might not be transitory and be more structural. In tandem, RBI increased the CPI forecast from 5.1% to 5.7% for FY22. So, what are the investment principles retail investors need to follow to keep a check on inflation? Focus on the real return Inflation erodes the pricing power of your investments. So, to simply put, real return = return – inflation. It is because inflation . As a result, traditional investments like fixed deposits (FDs) have not kept pace with inflation. For instance, when your bank savings account gives a nominal return of 4%, the real return is negative as average inflation has been at 6%, significantly higher than the 4% bank yield on savings accounts. Start early invest consistently The earlier you start investing your money, the greater the possibility of earning more and reaching your goals faster. Starting early and investing consistently gives you the flexibility to invest with a small amount and reach your goals faster. Equity mutual funds tend to generate better returns over a period of time, hence the earlier you start investing, the more potential your money has to grow. Time in the market makes a huge difference over timing the market. This means the longer you keep your money uninterrupted; it has the potential to provide long-term risk-adjusted returns. It also saves you from the hassle of predicting the market and trying to analyze and assess the macro-economic indicators such as inflation. Let For example, Sharma started investing Rs 10,000 a month in a SIP at the age of 45. He invested 15 years till he was 60 years and the total amount invested is Rs 18 lakh. On the other hand, Kotian started investing Rs 5,000 a month in a SIP when he was 30 years old. He invested for 30 years till he was 60 years of age and the total amount invested is Rs 18 lakh. The illustration assumes a 10% rate of return for a monthly SIP. So, Sharma So, the investor who started early at age 30 can accumulate more than double the size as compared with the investor who is aged 45 years. This illustrates the power of compounding through your returns reinvested and adding to your corpus over the long term. Align portfolio with your risk profile Consider your risk appetite, risk tolerance, and risk capacity carefully. When you begin your mutual fund journey, you find that a solution that has worked for you may not work for another investor. This is because different investors have different risk profiles. Risk capacity is your ability to take financial risks based on age, income, etc. On the other hand, risk tolerance refers to an investor Risk appetite refers to the maximum amount of risk that you are willing to take as an investor. You have to be well-acquainted with your goals and the timeframe to assess the risk level you are comfortable with taking on. The writer is fund manager, Equity, Quantum AMC
Bharti Airtel will raise up to Rs 21,000 crore through a rights share offering, the telecom operator said on Sunday after it board okayed the issue at Rs 535 apiece, including a premium of Rs 530 per share. The shares will be issued in the ratio of 1 for every 14 held. The promoter and promoter group will not just subscribe to shares they are entitled to but also pick up any unsubscribed shares. The Bharti stock closed Friday95. The Street anticipates the dilution of about 7% could be an overhang on Bharti They cite the 30% underperformance to the Nifty in the two months following the 2.8% stake sale by the promoters in May last year. The Bharti stock has under-performed the Sensex in the last six months and hugely over the past year gaining just 13.5% to the Sensex Analysts at Jefferies wrote the announcement came as a surprise since there are no near-term chunky repayments coming up and it is unlikely that Bharti would be looking to prepay its spectrum liabilities to the govt. Moreover, they pointed to the lack of visibility just yet on 5G auctions as also the fact that both the Indian and African operations are free-cash-flow positive. Bhartis standalone net debt\/ebitda was at 3.7x in FY21. Bharti Airtel2 crore outstanding shares. The additional shares issued by way of rights shares will be 39.2 crore taking the total to 588.43 crore shares. Subscribers to the right issue will need to pay 25% on application and the remainder in two more additional calls within an overall time-horizon of 36 months.