NewsBizkoot.com

Author: admin

  • Oxford International Education Services and AngelXpress

    Mumbai, December 24th, 2024 – In a heartwarming initiative aimed at fostering education and overall development among children from low-income families, Oxford International Education Services (OIES), a leading education services provider supporting universities worldwide to strengthen and scale up international student acquisitions collaborated with the NGO- AngelXpress Foundation to distribute food and stationery kits to 420 children at four centers across Mumbai — Mulund, Andheri, and Colaba, Malad. This thoughtful initiative is part of OIES’s larger commitment to organizing similar events aimed at uplifting underprivileged communities, aligning with its vision of fostering an equitable and inclusive society.

    The distribution drive saw OIES team members actively engaging with the children, spending the day sharing stories, offering encouragement, and inspiring them to dream big. The kits, filled with essential stationery and nutritious food, were curated to meet the children’s immediate needs while supporting their ongoing educational journey.

    Mr. Mohit Gambir, Managing Director, Oxford International Education Services, said “Christmas is a time of hope, giving, and togetherness, and we wanted to make it special for these children by supporting their education and well-being. At OIES, we believe that education is the cornerstone of a better future. Partnering with AngelXpress Foundation allows us to extend our mission beyond classrooms and empower young minds who represent the future of our society.This initiative helped us to share the joy and reinforce the message that their dreams matter, and we are here to support them in achieving those dreams.”

  • Reliance Industries’ stock tanks 23 pc from its July high

    Reliance Industries marching towards negative return for 1st time in last 10 years

    Reliance IndustriesIANS

    The stock of Reliance Industries Limited (RIL), India’s largest company by market capitalisation, has slipped by 23 per cent from its highest level in July this year.

    If the stock fails to rise 5 per cent in the remaining five trading sessions this calendar year, the company will not only record its longest monthly losing streak since the Covid-19 markets’ slump but also give negative returns for the first time in the last 10 years.

    According to stock exchange data, RIL’s market cap declined by about Rs 5 lakh crore from its peak of Rs 21.50 lakh crore in July to Rs 16.5 lakh crore.

    Meanwhile, Tata Consultancy Services (TCS), India’s largest IT company owned by the Tata Group, as well as the country’s largest bank by market capitalisation, HDFC Bank, are quickly catching up to dethrone the conglomerate from its top spot.

    TCS

    Tata Consultancy Services (TCS).IANS

    TCS’ market cap surged to Rs 15 lakh crore from Rs 13.72 lakh crore in January this year, and is closest to dethroning RIL from its top spot.

    HDFC Bank’s market cap increased to Rs 13.74 lakh crore from Rs 12.95 lakh crore this year.

    Both TCS and HDFC Bank stocks performed well in 2024. TCS railed nearly 10 per cent and HDFC Bank surged around 7 per cent (as per the December 24 closing).

    Investors remain optimistic about TCS and HDFC Bank due to the global rate cut cycle. On the other hand, RIL’s earnings have consistently remained weaker than estimates.

    RIL’s earnings per share estimates for the next year have fallen by 16 per cent since the beginning of the current financial year.

    Despite the decline in Reliance Industries’ earnings, brokerages remain bullish on the stock. Recently, Morgan Stanley gave an overweight rating to RIL.

    (With inputs from IANS)

  • India’s data centre capacity to more than double by fiscal 2027 – CRN

    India’s data centre capacity to more than double by fiscal 2027 – CRN

    The Indian data centre industry’s capacity1 is set to more than double to 2-2.3 GW by fiscal 2027, led by increasing digitalisation of the economy as enterprises increase their investments in cloud storage and consumer demand for data surges. Further, rising penetration of Generative Artificial Intelligence (GenAI) will drive the demand over the medium term.

    Incremental capital expenditure (capex) to support the strong demand would see a higher proportion of debt funding, resulting in a moderate increase in debt levels. That said, capacity additions will lag demand growth, keeping offtake risks low. As a result, the industry can expect healthy and stable cash flows, which will keep credit profile of players steady.

    A CRISIL Ratings analysis of industry players, representing ~85% of the market share by operational capacity, indicates as much. Data centres cater to the computing and storage infrastructure demand, which is driven by two primary drivers. One, enterprises are rapidly shifting their businesses to digital platforms, including cloud, a trend that has accelerated post Covid-19 pandemic. Two, increased accessibility of high-speed data has led to a surge in internet usage, including social media, over-the-top (OTT) platforms and digital payments. Notably, mobile data traffic logged a compound annual growth rate (CAGR) of 25% over the last five fiscals. It stood at 24 GB per month at end-fiscal 2024 and is expected to rise to 33-35 GB by fiscal 2026.

    In addition to the ongoing demand, rapid advancement of GenAI, which requires higher computational power and low latency than traditional cloud computing functions2, will also provide tailwind to the data centre demand in India. Says Manish Gupta, Senior Director and Deputy Chief Ratings Officer, CRISIL Ratings Ltd, “To meet the growing data centre demand, an investment of Rs 55,000-65,000 crore is required over the next three fiscals, primarily towards land and building, power equipment and cooling solutions. Data centre operators typically build infrastructure – land and building, which account for 25-30% of overall capex – with the expectation of future tie-ups. While this approach may expose incremental capacities to utilisation risks, strong demand is expected to support capacity utilisation to reach 80-90% within a year or two.”

    The capacity additions are driven by expansion plans of the existing players as well as entry of new players. These are on the back of significant demand from hyperscalers3. As hyperscalers typically wield high bargaining power due to large capacity requirements in a data center, they are able to secure competitive pricing. Typically, pricing of hyperscalers is likely to be 10-20% lower than other customers. Hence, balancing the ramp-up in capacity utilisation with pricing remains key for returns on data centre investments.

    Says Anand Kulkarni, Director, CRISIL Ratings Ltd, “Once capacities are tied up, data centres benefit from predictable cash flows backed by a stable client base resulting in low churn rates. This is due to high switching cost for customers on account of their investments and possible business disruptions when switching. Amid significant capex plans for expansion, the debt-to-earnings before interest, tax, depreciation and amortisation (Ebitda) ratio of data centre operators is expected to increase to ~5.4x this fiscal from ~5x last fiscal, before improving from next fiscal as capacity utilisation ramps up.”

    In the milieu, data centre players’ timely capacity commissioning and tie-ups with customers, along with their ability to sustain pricing, will bear watching.

  • EPFO Extended the Last date for Linking UAN and Aadhaar

    UAN Activation Deadline: The Employees’ Provident Fund Organization has given another relief news for its account holders. EPFO ​​has again extended the deadline for Universal Account Number (UAN) activation and Aadhaar linking. Now employees can complete this process by 15 January 2025. Earlier the last date was 15 December 2024.

    – Advertisement –

    Why is UAN and Aadhaar linking mandatory?

    Employees of the Employees’ Provident Fund Organization (EPFO) who want to avail financial benefits under the Employment Linked Incentive (ELI) scheme, it is necessary for them to activate the Universal Account Number (UAN) and link their bank account with Aadhaar. This process is completed through Direct Benefit Transfer (DBT), through which eligible employees are given their benefits directly in their bank account.

    What is ELI scheme?

    The ELI (Employment Linked Incentive) scheme aims to encourage employment generation and provide financial assistance to employees. The scheme was introduced by Union Finance Minister Nirmala Sitharaman in the July 2024 budget.

    There are three categories of ELI scheme

    • Scheme A: Targets new employees joining EPF for the first time.
    • Plan B: Promotes employment opportunities in the manufacturing sector.
    • Scheme C: Provides incentives to employers.

    Advantage of the new deadline

    EPFO had extended the deadline for UAN activation and Aadhaar linking from 30 November 2024 to 15 December 2024. Now it has been extended once again and given time till 15 January 2025. This has brought great relief to those employees who had not completed this process till now.

    Complete the process before the last date

    If you want to avail the benefits under the ELI scheme, it is mandatory to complete UAN activation and Aadhaar linking on time. This scheme has been created to promote employment generation as well as provide financial security to the employees.


    – Advertisement –

    Previous articleGoogle’s February 16 Privacy Policy Updates Threaten Users’ Privacy
    Jyoti

    Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

  • Driving Efficiency: The Power of Seamless Hardware Integration in Mobile Apps

    Sai Krishna Paladugu

    In this era of rapid technological advancement, the integration of printer and scanner hardware into mobile applications is revolutionizing digital workflows across various industries. Sai Krishna Paladugu highlights how these innovations streamline operations, improve user experiences, and address the growing need for efficiency in enterprise mobility. With the market projected to reach $1.76 trillion by 2026, the demand for secure and seamless hardware integration continues to soar, offering businesses a significant competitive edge in the digital landscape.

    Leveraging SDKs and APIs

    At the heart of seamless hardware integration is the strategic utilization of manufacturer-provided Software Development Kits (SDKs) and Application Programming Interfaces (APIs). These tools enable developers to access advanced functionalities such as duplex printing, high-speed scanning, and real-time status updates. By leveraging these capabilities, applications can maximize hardware efficiency, enhancing performance and reliability. This elevates application functionality and drives significant improvements in productivity, operational efficiency, and overall user satisfaction.

    Prioritizing Speed and Reliability

    Optimizing speed and reliability is essential in point-of-sale systems and on-demand label printing applications. Businesses can ensure seamless and fast operations by implementing efficient data processing algorithms, reducing network overhead, and incorporating robust error-handling mechanisms. These approaches minimize downtime, improve data accuracy, and deliver critical advantages in time-sensitive sectors like healthcare and retail, enhancing overall efficiency and customer satisfaction.

    Error Handling for Seamless Operations

    A proactive approach to error handling can significantly improve user satisfaction and operational continuity. Real-time error detection, user-friendly messages, and automated troubleshooting enable mobile apps to effectively address issues like paper jams or connectivity disruptions. These features reduce workflow interruptions and bolster system reliability and user trust.

    Offline Functionality: Ensuring Continuity

    In environments where network reliability is inconsistent, offline functionality becomes critical. Mobile apps capable of local data storage and print job queuing prevent data loss and reduce user frustration during connectivity outages. Efficient synchronization mechanisms ensure seamless transitions when networks are restored, maintaining productivity and operational flow.

    Supporting Versatility with Multi-Format Capabilities

    Modern mobile applications cater to diverse needs by supporting multiple formats such as PDFs, images, and barcodes. This versatility enhances the utility of printing and scanning functions across various business scenarios, from document management to inventory tracking. With widespread adoption of formats like QR codes, multi-format support becomes an essential feature for addressing evolving business demands.

    Building Robust Security

    As cyber threats escalate, robust security in mobile and hardware integrations becomes paramount. Techniques such as end-to-end encryption, multi-factor authentication, and role-based access control are essential to safeguarding sensitive data and maintaining system integrity. Additionally, secure data storage solutions combined with automated purging processes further reduce the risk of breaches, ensuring compliance with stringent data protection regulations. By prioritizing these advanced security measures, businesses not only mitigate vulnerabilities but also enhance customer trust, reduce incident rates, and establish a strong foundation for sustainable, secure digital operations.

    The Future of Hardware Integration

    The evolution of seamless hardware integration in mobile applications highlights a significant shift toward smarter, more efficient digital solutions. By adopting best practices such as optimizing speed, enhancing reliability, and securing integrations, organizations can significantly improve operational efficiency while reducing costs. These advancements not only streamline workflows but also deliver enhanced user experiences. Such transformative technologies pave the way for innovation, enabling businesses to thrive and adapt in an increasingly digital environment.

    In conclusion, Sai Krishna Paladugu‘s exploration of hardware integration innovations is a comprehensive guide for businesses seeking to leverage mobile applications effectively. Organizations can optimize workflows, enhance user experiences, and ensure operational resilience by implementing these strategies. These advancements enable businesses to stay competitive and foster adaptability and innovation, positioning them for sustained success in an ever-evolving digital landscape.

  • Revision in Margin Pledge benefits from 31 Dec ’24

    Please note, the following securities will be removed from SEBI’s list of approved securities for Margin Pledge.

    As a result, you will not receive margins for F&O trading against these scrips starting Tuesday, 31 December 2024 :

    NOTE: If you have pledged any of the above, starting 31 December 2024, you will not receive margins pledge benefit and you will be required to fulfil the full margin requirement. If you’re unable to pay, we will have to automatically square off your positions to recover the amount by 1 January 2025.
    We have attached a list of these stocks for your reference.

    Please review your portfolio and make necessary adjustments to avoid any inconvenience. Thank you for your understanding and cooperation.

  • Dharavi Redevelopment Project: Zero financial burden, 10 years of worry-free living

    Dharavi Redevelopment Project

    Dharavi Redevelopment ProjectIANS

    Imagine moving into a brand-new home, surrounded by modern infrastructure and facilities, without worrying about maintenance charges for the next 10 years. That’s the promise of the Dharavi Redevelopment Project (DRP) — an initiative that goes beyond housing to ensure a financially sustainable future for its residents.

    The Dharavi Redevelopment Project is unique because there will be no financial burden on the residents. The state government has decided to provide free housing to eligible residents of Dharavi.

    Additionally, the government is committed to offering affordable housing to ineligible residents under the Pradhan Mantri Awas Yojana or through a hire-purchase scheme — all designed to offer maximum benefits at the most affordable rates.

    Moreover, to ensure a smooth transition, residents won’t have to pay electromechanical maintenance charges for the first 10 years. During this period, the developer will take full responsibility for the upkeep of the societies. Additionally, the state government has planned to allocate 10 per cent of the built-up area of rehabilitation component for commercial spaces, creating a revenue-generating model.

    It is common for cooperative societies in India to charge a specific service charge to the owners and members for maintaining the societies. The same is followed even in MHADA buildings.

    onecommunityglobal

    onecommunityglobal

    For Dharavikars, however, maintenance will almost become free for life. The first 10 years come with free maintenance, and the revenue from monetising 10 per cent of the commercial space can cover their maintenance costs in the long term. In addition to this, statutory corpus fund per tenement will be deposited by the developer to the competent authority.

    “This innovative approach ensures that Dharavikars not only enjoy better homes but also a worry-free lifestyle in planned, sustainable communities,” said a Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP-SRA) official.

    Residents will benefit from 24/7 water and electricity, private toilets, and kitchens — marking a significant upgrade from their current conditions. Those who settled before 2000 will receive 350 square feet homes, which are 17 per cent larger than those offered in other slum rehabilitation projects.

    But the benefits don’t stop there. “The project is designed to uplift entire neighbourhoods, not just Dharavi. Residents who don’t qualify for homes within Dharavi will be resettled in additional land parcels across the Mumbai Metropolitan Region (MMR). These new townships will introduce schools, hospitals, shopping centres, and other essential amenities, which will also enhance the quality of life in surrounding areas,” the DRP-SRA official noted.

    The 2022 tender of the Dharavi Redevelopment Project addresses shortcomings of previous development efforts by focusing on financial and infrastructure sustainability. The present tender also has provision for upper floor residents who are normally not considered for slum rehabilitation projects.

    In many ways, therefore, this redevelopment is not just about housing; it’s about creating inclusive, modern communities. It not only prioritises the well-being of Dharavikars, but also provides induced benefit to every neighbourhood around the new townships. This will set a new benchmark for a human-centric urban transformation.

  • Filmmaker Christopher Nolan’s upcoming multi-starrer project is based on Homer’s epic Odyssey

    Christopher Nolan's upcoming project is based on Homer's epic.
    Universal Pictures reveals the title of Christopher Nolan’s upcoming project. Photo Courtesy: Wikimedia Commons

    Universal Pictures on Monday revealed director Christopher Nolan’s upcoming project is titled ‘The Odyssey’, an adaptation of ancient Greek poet Homer’s epic.

    The multi-starrer will feature actors Matt Damon, Tom Holland, Anne Hathaway, Zendaya, Lupita Nyong’o, Robert Pattinson and Charlize Theron, Variety reported.

    Makers said the movie will hit the silver screen in 2026.

    Sharing details about the upcoming project, Universal Pictures wrote on X: “Christopher Nolan’s next film ‘The Odyssey’ is a mythic action epic shot across the world using brand new IMAX film technology.”

    “The film brings Homer’s foundational saga to IMAX film screens for the first time and opens in theaters everywhere on July 17, 2026,” the makers wrote.

    Christopher Nolan is best known for directing movies like Oppenheimer, Tenet, Dunkirk, Interstellar, and Memento, among others.

    The Odyssey is one of two major ancient Greek epic poems attributed to Homer.

    It is one of the oldest works of literature still widely read by modern readers.

  • Indian startup ecosystem raises over Rs 29,200 crore in 2024, witnesses record 13 IPOs

    Start-up

    Indian startup ecosystem raises over Rs 29,200 crore in 2024, witnesses record 13 IPOstwitter

    In a significant year for the Indian startup ecosystem, 13 new-age companies launched their initial public offerings (IPOs), as startups cumulatively raised more than Rs 29,200 crore from the stock market.

    When it comes to IPOs, the figure stood at 10 in 2021, six in 2022 and six in 2023.

    This year, 13 startups cumulatively raised Rs 29,247 crore from the cash market. Out of this, the fresh issue was nearly Rs 14,672 crore and Rs 14,574 crore Offer for Sale (OFS).

    In an IPO, the money raised under the fresh issue goes directly to the company. At the same time, the money raised under OFS goes directly to the investors and promoters of the company.

    Among 13 startup IPOs, 10 were mainboard and 3 were SME IPOs.

    The startup IPOs include TAC Security, Unicommerce, MobiKwik, TBO Tek, Ixigo, Trust Fintech, FirstCry, Menhood, Awfis, Swiggy, Digit Insurance, Blackbuck and Ola Electric.

    The largest IPO among startup companies was offered by online food delivery platform Swiggy at Rs 11,327.43 crore. Swiggy’s shares were listed in the stock market at a price of Rs 420 with a premium of 7.69 per cent.

    Electric vehicle

    EV company Ola Electric was in second place with an IPO of Rs 6,145.56 croreIANS

    Following, EV company Ola Electric was in second place with an IPO of Rs 6,145.56 crore, FirstCry at third place with an IPO of Rs 4,193.73 crore, Digit Insurance at fourth place with an IPO of Rs 2,614.65 crore and TBO Tech at fifth place with an IPO of Rs 1,550.81 crore.

    Among all the mainboard startup IPOs, Unicommerce got the highest subscription of 168.39 times, MobiKwik 119.38 times, Awfis 108.56 times, Ixigo 98.34 times and TBO Tek, 86.7 times.

    Among all the IPOs, TAC Security recorded the highest listing gain of 173.58 per cent, followed by Unicommerce and Mobikwik with a listing gains of 117 per cent and 57.71 per cent, respectively.

    Apart from this, Ixigo, Trust Fintech and FirstCry surged 30-50 per cent on the listing.

    (With inputs from IANS)

  • GST On Second-Hand Cars Raised To 18%: Here’s Check The Details

    On Saturday, the GST Council met with Finance Minister Nirmala Sitharaman as chair. During the meeting, the second-hand car tax slab was raised from 12% to 18%, prompting concerns about the potential impact on India’s formal used car industry.

    The revision, which applies to automobiles sold through registered dealers and internet marketplaces, is expected to result in a considerable shift towards informal channels for buying and selling secondhand cars. However, individuals selling or purchasing old vehicles will continue to pay the reduced 12% tax.

    Under the current system, used petrol, LPG, and CNG cars having an engine size of 1200cc or more and lengths exceeding 4000mm are taxed at 18%. Similarly, diesel vehicles with engine sizes of 1500 cc or higher, as well as SUVs with engines larger than 1500 cc, fall into this tax group.

    Several industry professionals have expressed worries about an increase in the GST rate on used cars. Calling used cars the backbone of mobility for Indians, especially in Tier 2 and Tier 3 cities, Cars24’s Vikram Chopra urged the government to “look at the bigger picture.”

    “Used cars don’t just help individuals—they fuel economic growth by supporting thousands of small businesses, from dealers to service providers, and contribute to a circular economy by extending the lifecycle of vehicles,” Chopra said.

    Therefore, businesses that rely on depreciation benefits will have to devise new policies to adapt to a higher tax impact.