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Delhi-based Battery Smart has announced that they will be entering into a partnership with leading car service and spare parts centre, GoMechanic. Through this partnership Battery Smart will be able to increase their swapping outlets by using GoMechanic The company has been working to build the largest battery swapping network for electric two and three-wheelers. This new step will allow Battery Smart to use more than 100 GoMechanic garages as a battery swapping station and the first one will be situated in West Delhi. While the government has been pushing for wider adoption of EVs through various subsidies, the lack of infrastructure still discourages a lot of buyers. Battery Smart already has 71 swapping stations across Delhi-NCR and plans to increase that to one swapping station per square kilometre which should result in a more convenient experience for EV owners. Suyash Kumar, VP – Operations and Expansion at GoMechanic, said This is definitely a step forward in that direction. There are several synergies between Battery Smart and us, as we both are looking to enable EV adoption by establishing a dense EV ecosystem consisting of swapping or charging, retrofitment and maintenance services, and this partnership with a leading player focused on battery swapping will empower us to do just that. GoMechanic has 600+ workshops across 35 cities and has aggressive growth plans. Their centres will serve as vital points for our customers to get vehicle maintenance, retrofitting and access to spare parts. This partnership will also enable us to quickly scale our swapping stations at key garages across territories,
Despite the second wave, Sobha clocked ~0.9msf pre-sales in Q1FY22 (up 38% y-o-y, down 33% q-o-q); its share in new sales was Rs 5.7 bn (+45% y-o-y\/-35% q-o-q). Net debt edged down to ~Rs 28.2 bn (Rs 28.5 bn in Q4FY21). Management indicated launches are likely to pick up and the company will continue to focus on cash flow management to reduce net debt: equity (currently 1.15x). We expect buoyancy in sales to sustain riding revival in housing demand and Sobha6msf launch pipeline. Retain Buy with a revised TP of Rs 709\/share (Rs 574 earlier) factoring in a reduction in WACC, removal of NAV discount and a valuation rollover to Dec-22e. Sales resilient despite second wave During Q1FY22, the company reported new sales of ~0.9msf with sales volume growing y-o-y across major cities such as Bengaluru, Pune, Gurugram, and Kochi; sales in Bengaluru recovered 37% y-o-y (down 26% q-o-q). Other cities that reported strong y-o-y growth include Pune (165% y-o-y), Gurugram (119% y-o-y) and Thrissur (95% y-o-y). There were no formal project launches during the quarter; the company has a robust launch pipeline of ~12.6msf projects over the next four It expects to launch projects in Bengaluru, Chennai and Gujarat soon. Debt reduction continues Aided by healthy collections (up 31% y-o-y), the company managed to reduce its net debt q-o-q to Rs 28.2 bn in Q1FY22. Cash flows were aided by minimal land-related payments. Mgmt indicated it is committed to cash flow management going ahead and hence land-related capex will remain contained (~Rs 0.75-0.80 bn annually). Incremental land acquisition will be funded through internal accruals. Along with project launches, free cash flow and debt repayment will be the key focus areas. It is targeting to bring down net debt:equity to 11x. Outlook: Cash flows paramount With demand recovering and launches likely to pick up, we believe Sobha We continue to follow the old AS and maintain
Bitcoins price surged past $50,000 on Monday for the first time since May, continuing its rebound from a months-long slump. The worlds largest cryptocurrency rose to $50,341 , as investors bet that the prospect of more U.S. stimulus spending would lead to further gains, and more mainstream financial services firms made moves in the nascent asset class. Bitcoin has risen 81% since hitting a yearly low of $27,700 in January. Meanwhile, the price of rival cryptocurrency ether rose 2.8% to $3,337. The virtual coin has risen 91% since slumping to below $1,740 last month. The cryptocurrency recovery comes as some more established financial services companies offer their customers access to virtual coins. PayPal Holdings Inc said on Monday it would allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week. Some traders believe the bitcoin market has yet to see the full return of retail investors, suggesting the current upswing could have further to go. The last time bitcoin was at $50,000, the Google trends (tracking website showing Bitcoin searches) was much higher than what it is now, Marcus Sotiriou, a sales trader at the UK based digital asset broker GlobalBlock, said in a note. This suggests that retail euphoria hasnt entered the market yet and bitcoin has a long way to go in this market cycle.
Foreign Secretary Harsh Vardhan Shringla called on United States Secretary of State Antony Blinken here on Thursday during which they discussed bilateral ties, regional and global issues including the current situation in Afghanistan. This was the first high-level discussion between the officials of the two countries after the American withdrawal of troops from Afghanistan on August 31. Discussions touched on bilateral ties and the situation in Afghanistan, Ministry of External Affairs Spokesperson Arindam Bagchi said in a tweet after the meeting. Shringla, who arrived here a day earlier from New York, had a series of meetings throughout Thursday, including with his American counterpart Deputy Secretary Wendy Sherman. Excellent interaction this morning with Blinken and Sherman, tweeted Indias Ambassador to the US Taranjit Singh Sandhu, who attended the meetings along with Shringla at the Foggy Bottom headquarters of the State Department. Shringla and Sherman discussed a broad range of shared priorities, including continued coordination on Afghanistan, strengthening Indo-Pacific cooperation through the Quad, addressing the climate crisis and the COVID-19 pandemic, and preparations for upcoming dialogues, such as the 2+2 Ministerial, said State Department Spokesperson Ned Price. The two diplomats agreed to remain closely coordinated on shared goals and priorities to deepen the US-India partnership, Price said in a readout of the meeting. The US-India relationship is defined by our shared democratic values. I look forward to continuing to coordinate closely on global challenges, tweeted Uzra Zeya, Under Secretary of State for Civilian Security, Democracy, and Human Rights, after the meeting.
Nothing might be the new kid on the block, but it has definitely taken the audio world by storm. In a short span, this UK-based firm Priced at a modest Rs 5,999, these are design-focused wireless earbuds that offer good sound quality and active noise cancellation. Carl Pei, CEO and co-founder of Nothing, describes his firm It marries advanced technology, precise engineering, and groundbreaking design at an unbelievable price. Based in London, Nothing wants to inspire people to believe in the positive potential of technology again. Starting this year, it aspires to bring back artistry, passion, and trust to the field of consumer technology. Nothing is a privately held company with backing from GV (formerly Google Ventures) and other private investors, including Tony Fadell (principal at Future Shape and inventor of the iPod), Casey Neistat (YouTube personality and co-founder of Beme), Kevin Lin (co-founder of Twitch) and Steve Huffman (co-founder and CEO of Reddit). The Nothing ear (1) true wireless earbuds featuring an iconic transparent design and promising a premium user experience have been the object of much discussion among the tech fraternity. With up to 34 hours playtime with the case, a powerful 11.6mm driver and leading specs including active noise cancellation, Nothing ear (1) earbuds come in a sleek, ultra-modern design, are extremely comfortable and deliver good sound quality. However, it The workmanship is good here; with a transparent casing, the inner workings of the earbuds are on display. Each earbud weighs in at just 4.7g and feels light and comfortable in the ears. It delivers pressure-relieving vents, an ergonomic fit, and three customisable liquid silicone tips. The ear (1) earbuds are also sweat and water splash resistant. Under the hood, pure sound starts with a big driver, 11.6mm to be exact. The audiophiles at Teenage Engineering painstakingly dialled in the software and hardware for balanced bass, mid, and treble performance. Behind the scenes, the latest Bluetooth 5.2 connectivity ensures you never miss a beat. Probing further, active noise cancellation on ear (1) uses three high definition mics to bring your music, films, and podcasts into sharp focus. You can use Light mode for moderate noise cancellation and Maximum mode for noisier environments like at a gym or in the office. When you For loud and clear calls, Clear Voice Technology was specially-developed for ear (1) to reduce distracting background noises like the wind. Company officials inform that power runs deep on ear (1) with up to 5.7 hours of listening time and up to 34 hours with the case. The compact power source delivers ultra-fast charging The best part: Nothing ear (1) charges wirelessly as well and is compatible with all Qi chargers. Additional features include Find My Earbud, EQ, Active Noise Cancellation and Gesture Control customisation via the ear (1) app, as well as in-ear detection and fast pairing. I synced the ear (1) with my high-end Samsung Galaxy S21 Ultra phone and wore them to the market, shopping malls and nearby stadium for my daily walks. Trust me, killer sound is a given here right from the word go. It has rich, detailed sound with well-defined bass, natural-sounding mids and some sparkle in the treble as well. Noise cancellation works flawless, there All in all, these sound like premium earbuds should and hence find a strong mention. Estimated street price: Rs 5,999
After seven straight months of net inflows, gold exchange traded funds witnessed a pullout of over Rs 61 crore in July as investors diverted their money to equity and debt funds that generated attractive returns. Despite the negative flows in the category, the number of folios went up to 19.13 lakh in July from 18.32 lakh in the preceding month, data with Association of Mutual Funds in India (Amfi) showed. Barring February 2020, November 2020 and July 2021, investments into ETFs that track the yellow metal have been witnessing a steady uptick since August 2019. The gold ETFs category, which has seen continuous inflows since December 2020, witnessed an outflow of Rs 61.5 crore in July this year.This was starkly different as compared to the inflows of Rs 360 crore in June and Rs 288 crore in May. During the first six months of the year, investors put in Rs 3,107 crore in such instruments. Prior to the latest outflow, gold ETFs had witnessed an outflow of Rs 141 crore in November 2020 and Rs 195 crore in February 2020. Priti Rathi Gupta, Founder, LXME attributed the latest outflow from gold ETFs to two factors – gold prices at an all-time-high for a while, creating anticipation amongst investor for a price plunge and investors tending to divert their investments into these instruments due to attractive returns fetched by equity and debt funds. Equity mutual funds clocked a staggering net investment of Rs 22,583 crore and debt funds attracted a net sum of Rs 73,964 crore last month. The positive uptrend across the equity markets and the positive investor sentiment towards equity led to an increased inflow into the segment. While equity funds witnessed the highest level of inflows on a historical basis, gold stagnated as investors preferred equity over gold, Kavitha Krishnan, Senior Analyst Manager Research, Morningstar India, said. Despite outflow, the assets under management (AUM) of gold ETFs rose to Rs 16,750 crore at the end of July from Rs 16,225 crore at June-end. Gold has been increasingly acknowledged as asset class that helps diversify an investors portfolio, Krishnan said. Gold ETFs are basically exchange-traded funds that invest in gold. They are traded on the stock market and make direct investments in gold.
Soon after we saw the Triumph Trident 660, there were reports on the Internet that it would spawn two more motorcycles – an adventure motorcycle and an adventure-sports tourer. And now, Triumph Motorcycle has taken the wraps off what it calls the Tiger Sport 660, which by the looks of it is an adventure sport. The motorcycle is in its final prototype stage, images of which have been shared by the British manufacturer. The motorcycle in the images is wearing camouflage but there are details visible that point to the fact that itll prefer the road more. It gets Showa upside-down forks like the Trident but it would likely have more suspension travel. The wheel size is the same at 17 inches and it gets Michelin Road 5 tyres. The tubular steel frame is likely the same but with a new rear subframe and swingarm. The Tiger Sport 660 will be powered by the same 660cc three-cylinder engine that makes 81 hp, paired with a six-speed transmission and a bi-directional quickshifter. This will be the second road-focused Tiger in India after the Tiger 850 Sport and will also be the most affordable Tiger to date. Considering the final prototype looks very near a production model, its launch in international markets should happen in the coming weeks, which would then be followed by a launch in India. So, expect the Tiger Sport 660 in the country sometime in early 2022. The price tag is expected to be about Rs 7.5-8 lakh (ex-showroom) and the Tiger Sport 660 would rival the likes of the Kawasaki Versys 650 and the Suzuki V-Strom 650.
Darjeeling Himalayan Railways: Pride moment for Indian Railways! Recently, the United Nations Educational, Scientific and Cultural Organization (UNESCO) has launched a stamp on the Darjeeling Himalayan Railway. Among a few world heritage sites, the iconic Indian Railways Darjeeling Himalayan Railway (DHR) attracts tourists from all over the world. The national transporter has resumed Darjeeling Toy Train services from 25 August 2021 (Wednesday). According to the Northeast Frontier Railways, Train Number 52541\/52540 New Jalpaiguri – Darjeeling – New Jalpaiguri consist of three coaches including, one FCZ, one VS and one Parcel Van. The train runs daily as per following schedule: Train Number 52541 departs from New Jalpaiguri at 10:00 AM, halts at Siliguri Junction railway station at 10:25 AM, halts at Sukna station at 11:00 AM, Rangtong railway station at 11:34 AM, Tindharia railway station at 12:40 PM, halts at Gayabari railway station at 1:13 PM, Mahanadi station at 1:41 PM, Kurseong railway station at 2:20 PM, Tung station at 3:00 PM, Sonada railway station at 3:45 PM, Ghum at 4:35 PM, and arrives at Darjeeling station at 5:20 PM. Train Number 52540 departs from Darjeeling railway station at 8:00 AM, halts at Ghum railway station at 8:30 PM, halts at Sonada railway station at 9:15 AM, Tung station at 9:54 AM, halts at Kurseong railway station at 10:30 AM, Mahanadi railway station at 11:10 AM, Gayabari station at 11:41 AM, halts at Tindharia railway station at 12:17 PM, Rangtong station at 1:25 PM, Sukna station at 2:00 PM, Siliguri Junction railway station at 2:32 PM, New Jalpaiguri at 3:15 PM. A few days ago, the national transporter resumed Darjeeling Himalayan Railway Joy ride services between Darjeeling and Ghum for tourists and passengers.
Wondering how we celebrate Krishna Janmashtami especially when Happy Janmashtami is trending today across social media? Celebrating the beautiful story of Rukmini is a tempting offering for many readers, one that matches the festive outpouring of emotional fervour across the country. For readers who enjoy reading about Shri Krishna Vasudeva, as he is known and revered, Saiswaroopa Iyers recently published book, Rukmini deftly establishes beyond doubt that the life of Lord Krishna can be best understood through the journey of his much loved better half – yes, Princess Rukmini, who is also worshipped as a Goddess. Who is Rukmini – Princess or Goddess? One way to read Rukmini is to view it as an exciting journey with the Princess of Vidarbha, who does not bow down to patriarchy, etches a place for herself with intelligent debates in the assembly known as Sudharma where she holds her standpoint firmly when debating on issues of strategic and political importance, showing beyond doubt that she stands her ground firmly as a fitting partner for her husband. Her relationship with the Pandavas and Draupadi, known as Krishnas sister, enriches the narrative with deep insights. Rukminis relation with Satyabhama Even her friendship with Satyabhama, with whom popular misconception would like us to believe there was intense jealousy and rivalry, makes for a fascinating reading. Through their conversations, you can break through the illusion of stereotypes about the two women who respect each other amidst their deep respect for the man who remains at the centre of their life. Through life-threatening situations they confront together, one gets a glimpse of how strong the women are from within and how their friendship demonstrates both are willing to do anything it takes to safeguard both Krishna and His land. Did Krishna really love Rukmini is an often heard question, which this book tackles with sensitivity. From sweet glimpses of their banter such as Rukmini teasing her husband, You know your ways around traps, dont you? to the more serious discussions between them that hint at a dark and turbulent future ahead, where Krishna entrusts only Rukmini with the secret of how to navigate complex and dangerous waterways to evacuate people from Dwarka in the event of an emergency. Published by Rupa, each diligently researched chapter in Saiswaroopa Iyers Rukmini seems to evolve organically and a reader instinctively knows that it will lead somewhere deeper than its logical closure, but further to an ending that is deeply philosophical and out-of-the-box too. Through turbulent moments, Rukmini is calm, playfully clear and engaging, a powerful and clear voice embodying a womans intuitive intelligence and inner strength to endure amidst tumultuous times, if ever there was one.
When it comes to retirement planning, it requires a proactive approach to plan towards your retirement. The earlier you prepare for retirement, the better off you will be in the future. But no matter where you might be in your retirement planning stage However, before we plan to help you get there, you need to be convinced why retirement planning is crucial for you. Importance of Retirement Planning # Longer life spans: And this can be your very first reason to jump-start your retirement planning. A longer lifespan means more retirement funds to live an easy life when youre no longer working. # Anticipate financial obstacles: But it is also pragmatic to anticipate that there may be speed bumps ahead in your life. Therefore, working on your retirement with a robust retirement plan can enable you to overcome any money problems in the future. # Leave a legacy: As a parent, you want to do more for your family. You wish to leave behind an impact that lasts a lifetime and beyond. And to do so, you need to begin today and get your finances in order so that your heirs stand to benefit from what you sow. The Right Time to Start Retirement Planning Ideally, the best time to begin planning for retirement is the day you receive your first pay cheque. So, even though retirement may seem a lifetime away, planning for it in your 20s is not too early. If you start investing when you are young, you have time on your side to start building good financial habits and benefit from the power of compounding. With every passing year, your investment will generate its own returns Notwithstanding your age, the best time to start saving for retirement is now. A Guide to Calculate Your Retirement Corpus Heres how you can create your own personalized financial strategy towards your retirement. Step 1: Understand your monthly expenses Note down all your monthly expenses at the moment. Make sure you separate out those that will discontinue upon retirement. It is important to note that there are certain expenses that might increase after retirement (like medical) but they can be balanced out by the expenses that might decline (like rentals, clothing etc). So, assuming youre a family man aged 30, you categorize your familys expenses as follows: Step 2: Calculate Expected Income After Retirement Say you already expect a certain income after retirement, based on the various investments youve made in the past years and will continue to make until you For the purpose of illustration, lets assume the following amounts in the table below. Step 3: Calculate the Net Income Needed After Retirement Since the expected income from different sources could help you cover some of your monthly expenses after retirement, let Based on our assumptive calculations so far, the present value of net income needed after retirement would be – Step 4: Taking Inflation into Account Now, let So, to understand the buying power of your rupee, you need to look into the future value (after 30 years) of your total expenses by including an assumed inflation rate. Simply based on compounding formula, the future value of your 30,000 today will be: So, the expense will not be the same after 30 years and you need to equip yourself to meet such high expense all through the retirement years. Step 5: Calculate the Retirement Corpus needed at 60 Now assuming that you plan to retire at the age of 60, lets look at the table below that illustrates the total amount that need to be accumulated on the day you retire, based on 85 years of life expectancy. So, based on assumptions, we have illustrated that you may require Rs 5 crore to sustain your current lifestyle even after retirement. Where Can You Invest for Your Retirement When deciding on an investment avenue, remember to look into your risk appetite and the risks of the investment vehicle. If your retirement is more than 10 years away, you may consider investing in equities. Equity has the highest potential of earning returns. It carries risks in the short term but that can be mitigated if you stay invested for a long period of time. You can either choose to make direct equity investments or opt for Mutual Funds. Mutual funds can not only give you exposure to various asset classes and achieve diversification, but also help appreciate your investments in the long run with good returns. A proven way of investing for your retirement is to opt for the Systematic Investment Plan (SIP) in mutual funds. You can begin a monthly SIP that auto-debits your bank account and invests in mutual fund schemes on a pre-determined date every month. Investing via Systematic Investment Plan You may keep higher allocation into equity oriented investments in initial years and reduce equity exposure as you approach the retirement age. As an essential part of your financial wellness, retirement planning is crucial. Speaking to a financial advisor specializing in retirement planning can help you save the right amount for yourself and your family. They can help you analyze your expenses, prioritize your financial objectives, and show you how to build a portfolio of assets for a fruitful and comfortable retirement. Begin planning your retirement today and give yourself the ultimate peace of mind. Allow the right financial advisor to help manage your assets and protect you against the unexpected so that you never got shot in a downswing. Also remember one thing, do not use the investment set aside for retirement for other goals. You should have distinct portfolios for each type of goal. (By Jeevan Kumar, Head Investment Advisor at Geojit Financial Services)