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  • India IPO boom: 15 companies submit draft documents in just 1 day

    India IPO boom: 15 companies submit draft documents in just 1 day

    India IPO boom: 15 companies submit draft documents in just 1 dayIANS

    As Indian stock markets continue to show robust growth despite global uncertainties, a record 15 companies registered their initial public offering (IPO) documents with the Securities and Exchange Board of India (SEBI) on the last day of September.

    This took the total filings for the month to 41 which is the highest-ever IPO document filing in a single month.

    According to market watchers, the surge in draft red herring prospectus (DRHP) filings happened as audited financials for the quarter ending March 31 are valid only until September 30.

    “We forecast more than Rs 1.5 lakh crore of fund raise via IPOs this year. Increasing number of growth-stage businesses will hit the street. Moreover, we will have trend of multinationals coming to tap Indian capital market,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors.

    “Besides, several other market liquidity parameters, notably monthly mutual fund flow has doubled since last quarter and we are getting close to Rs 40,000 crore of money every month. This has fuelled capital market buoyancy phenomenally,” he added.

    The Indian equity markets have reached all-time closing highs, reflecting investor confidence driven by anticipated changes in the domestic interest rate cycle following the US Federal Reserve’s recent 50-basis-point rate cut.

    The overall trend in the Indian equity market remains positive, said experts.

    SEBI

    Indian stock markets show growtha record 15 companies registered their IPO documents with the SEBIIANS

    Additionally, the inclusion of Indian sovereign bonds in JP Morgan’s global debt indices has attracted around $18 billion in foreign investment over the past year, with expectations for continued growth following recent US interest rate cuts.

    According to analysts, this influx is lowering bond yields, reducing borrowing costs, and positioning Indian debt as increasingly attractive for foreign investors. Future monthly inflows could reach $2 to $3 billion, significantly boosting foreign participation in India’s bond market.

    As per Angel One Wealth data, in the first half of this year, more than 5,450 companies have been listed across the world, in which India’s share was about 25 per cent.

    Last year also a large number of IPO listings were seen in India. The reason for this was the high inflow by domestic investors in emerging companies and sectors.

    (With inputs from IANS)

     

  • FD Rate: These 5 banks are giving the highest interest on FD, you will enjoy seeing the returns

    Bank FD

    National Desk: Fixed deposits (FDs) can prove to be a good option for investors, especially when small finance banks are offering attractive interest rates on 3-year FDs. If you are planning to get an FD, the following small finance banks interest rates can help you get higher returns:

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    1. North East Small Finance Bank : This bank offers 9% interest rate on FDs maturing in 3 years. This is an excellent option if you want to invest your money at a high interest rate.
    2. Suryoday Small Finance Bank : This bank is offering an interest rate of 8.60% on FDs maturing in 3 years, which presents an attractive return option for investors.
    3. Utkarsh Small Finance Bank : Utkarsh Small Finance Bank is offering 8.50% interest rate on 3 year FD, which is included in the good interest rates.
    4. Jan Small Finance Bank : This bank is offering an interest rate of 8.25% on FDs maturing in 3 years, which is comparatively more competitive.
    5. Unity Small Finance Bank : This bank offers an interest rate of 8.15% on 3-year FD, which provides satisfactory returns to the investors.

     Here are the interest rates offered by them:

    1. North East Small Finance Bank : 9% interest rate
    2. Suryoday Small Finance Bank : 8.60% interest rate
    3. Utkarsh Small Finance Bank : 8.50% interest rate
    4. Jana Small Finance Bank : 8.25% interest rate
    5. Unity Small Finance Bank : 8.15% interest rate


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  • Leverage India’s unmatched scale: Piyush Goyal tells US companies

    Leverage India's unmatched scale: Piyush Goyal tells US companies

    Leverage India’s unmatched scale: Piyush Goyal tells US companiesIANS

    Union Commerce Minister Piyush Goyal has invited American companies to leverage India’s unmatched scale and take advantage of the ‘Make in India’ initiative, particularly in high-tech manufacturing and quality production.

    Minister Goyal, who began his four-day visit to the US this week, had a discussions with existing and potential US investors, highlighting the avenues for cooperation in various sectors.

    According to a Ministry of Commerce and Industry statement, in his meeting with Stephen Schwarzman who is the CEO of top investment firm Blackstone, Minister Goyal took note of the fact that the company has already invested about $50 billion in India and is one of the largest commercial and real estate investors in the country.

    Timothy F Geithner, President of Warburg Pincus, also called on the minister for a one-on-one discussion that covered various areas where there is scope for further improving the ease of doing business.

    “Had an engaging meeting with Sanjiv Ahuja, Founder, Chairman, and CEO of the leading global digital infrastructure firm, Tillman Global Holdings,” the minister posted on X social media platform.

    “India’s world-class digital infrastructure offers exciting investment opportunities, including in sustainable data centres. With its skilled talent pool, we are nurturing innovation and enterprise to position India as a leader in green technology and capabilities,” he added.

    The minister also chaired a roundtable discussion with young CEOs and entrepreneurs of Indian origin in New York, organised by the Consulate General of India.

    The Commerce Minister emphasised the transformative reforms undertaken under the leadership of Prime Minister Narendra Modi, which has propelled India’s remarkable growth over the past decade.

    PM Modi's efforts to help Uttar Pradesh reach $1 trillion economy: Piyush Goyal

     Minister Goyal had a discussions with existing and potential US investorsIANS

    Minister Goyal held one-on-one meetings with several CEOs discussing new areas of collaboration, particularly in advanced manufacturing, pharmaceuticals, robotics, artificial intelligence, and sustainable technologies.

    The Commerce MInister met Chintu Patel, Co-CEO, and Chirag Patel, President and Co-CEO of Amneal Pharmaceuticals. They explored ways to enhance India’s pharmaceutical ecosystem for high-end R&D, including biologics, and improved manufacturing capabilities to establish a robust global supply chain.

    A productive meeting was held with Henry R Kravis, Co-Founder and Co-Executive Chairman of Kohlberg Kravis Roberts and Co (KKR).

    The Commerce Minister highlighted potential investment opportunities in India’s electronics manufacturing, data infrastructure, and logistics sectors. He underscored the consistent economic growth in India over the past decade and the vast consumer market, which present numerous opportunities for strategic investments.

    (With inputs from IANS)

     

  • SEBI Introduces New Measures to Reinforce Equity Markets

    SEBI announces new measures to curb F&O trading, strengthen equity markets

    IANS

    The Securities and Exchange Board of India (SEBI) has announced a series of new measures for the futures and options (F&O) segment. This decision is a response to a concerning trend where nine out of ten participants have consistently lost money over the past three years. The market regulator has increased the minimum contract size in index derivatives from the current Rs 5 lakh to Rs 15 lakh. This measure is expected to limit participation by smaller investors or force them to trade with more capital, potentially reducing their exposure to high-risk trades.

    In addition to this, SEBI has reduced the weekly index expiry count to one per exchange. This means that exchanges can only offer one expiry in a week on one benchmark index. This move is expected to limit trading strategies that rely on frequent expirations, thereby reducing speculative activities, especially around expiry days.

    SEBI’s circular stated, In order to specifically address this issue of excessive trading in index derivatives on expiry day, it has been decided to rationalise index derivatives products offered by exchanges which expire on a weekly basis. Henceforth, each exchange may provide derivatives contracts for only one of its benchmark index with weekly expiry.

    SEBI

    IANS

    The regulator has taken these steps due to the heavy losses incurred by retail investors in the F&O segment. A recent study released by SEBI revealed that in the last three years, a combined loss of Rs 1.81 lakh crore has been incurred by 1.10 crore traders. Out of these, only 7 per cent of traders have been successful in making a profit.

    The new measures will be effective for all new index derivatives contracts introduced after November 20, 2024. After the new SEBI circular, the size of derivatives contracts in benchmark indices like Nifty and Sensex will increase from Rs 5 lakh-Rs 10 lakh to Rs 15 lakh-Rs 20 lakh.

    The derivatives market in India has seen significant growth in recent years. In July, SEBI’s paper stated that India’s derivatives market has surpassed the cash market. Currently, India accounts for 30 to 50 per cent of the total global derivatives trading. The cash market turnover in India has doubled from FY 20 to FY 24, while the turnover of index options has increased 12 times to Rs 138 lakh crore in FY 24, which was Rs 11 lakh crore in FY 20.

    The new measures are expected to impact retail investors in the F&O segment by discouraging excessive intraday leverage, which might lead to more cautious trading by retail investors. The measures aim to promote a more stable trading environment, which could benefit retail investors in the long run by reducing the risk of large, sudden losses.

    However, some retail investors might find the new rules restrictive and may need to adapt their trading strategies to comply with the new regulations. The phased rollout of these measures is designed to prevent sudden shocks to the market, allowing participants to adapt to the changes over time. This gradual tightening could lead to a healthier market environment overall.

    SEBI’s main concern that led to implementing measures specifically related to the expiry day of F&O contracts is the excessive trading and speculative activities that occur on these days, which can lead to significant market volatility and, consequently, heavy losses for retail investors. By rationalising index derivatives products with weekly expiries and implementing measures to address basis risk, SEBI aims to reduce these risks and promote a more stable and fair trading environment.

  • IRDAI changed the rules for surrendering life insurance policies from October 1st

    Many rule changes have come into effect in the country from today, i.e. the first day of the month of October. One of these rules is related to Life Insurance Policy.

    Under this, the rule of policy surrender has been changed and now policyholders will be able to surrender the policy easily as well as get more refund. The new rules of insurance regulator IRDAI have come into effect from October 1, 2024. Let us know what will be the benefit to the policyholders from this change in the rules?

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    Guaranteed surrender value in the first year

    IRDAI’s new rules have been implemented from the first date i.e. today. If we talk about the benefits to policyholders, if you surrender your policy in the first year, then now you will not have to lose the entire life insurance premium deposited by you. Rather, under the new rule, the Insurance Regulatory and Development Authority of India (IRDAI) has now made it clear that policyholders will get guaranteed surrender value from the first year itself, even if the policyholder has paid only one annual premium.

    Earlier the deadline was fixed for two years.

    The latest change made by the insurance regulator is a relief, because earlier the policyholder used to get this facility from the second year. This means that after buying the insurance policy, he used to get the facility to surrender his policy (Insurance Policy Surrender Rule) only after paying the premium for at least two full years, whereas under the old guidelines there was no provision for giving any surrender value in the first year.

    What does it mean to surrender a policy?

    Before understanding this rule, it is very important to know the meaning of insurance policy surrender. Actually, surrendering a policy means that the policyholder does not want to run it till maturity and wants to exit this policy by closing it earlier. When this happens, the policyholder is given a payment called surrender value or early exit payout, the value of which is the higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). The interest rate used in the calculation cannot be more than the current yield on 10-year Government Securities (G-Secs) plus an additional 50 basis points.

    How much refund on insurance of 5 lakhs?

    For example, consider a life insurance policy with a maturity period of 10 years, whose sum assured is Rs 1 lakh. So the annual premium for this is Rs 10,000, while the bonus is Rs 50,000. If we calculate it according to the rules implemented from October 1, then the present value of the paid insurance amount and future bonus will be Rs 7,823 or 78%.

    If we look at a 10-year policy with a sum assured of Rs 5 lakh, the policyholder will pay a premium of Rs 50,000 in the first year. Under the new rule, if he plans to leave the policy after one year, then he will now get a refund. If the premium has been paid for a full year, then based on the calculation, the policyholder will get Rs 31,295 back. If we talk about the formula used for this, then…

    Impact on returns on policy

    According to the report, this rule implemented by IRDAI may result in less profit for investors holding life insurance policies in long term investments. Actually, increase in surrender value may increase the cost for life insurance companies and it is likely that those holding policies for a long time may get less returns than before. Returns on non PAR policies may decrease by 0.3-0.5 percent, while bonus payments in PAR policies may decrease.

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  • Ola Electric’s EV Market Share Falls to 27% Amid Growing Challenges

    Ola Electric's EV market share drops to 27 pc as problems mount

    Ola Electric’s EV market share drops to 27 pc as problems mountIANS

    Bhavish Aggarwal-run Ola Electric continues to lose its market share in the Indian EV market and in the month of September, it further dropped to 27 per cent amid rising competition as well as its crippling service centres.

    The company saw 24,665 e-scooter sales last month, from 27,587 units sold in August, according to the government transportation portal Vahan.

    Ola Electric's share nosedives further, analysts warn investors to remain cautious IANS IANS

     Ola Electric’s rivals have launched newer models which are priced closer to those of OlaIANS

    Ola Electric’s market share has been consistantly decreasing amid rising competition from rivals like TVS Motor and Bajaj Auto. It earlier dropped to 31 per cent in August.

    The company’s nearest rivals TVS Motor and Bajaj Auto narrowed the gap in September, increasing their market share once again. Bajaj Auto showed growth with registrations rising to 19,103 units in September (from 16,789 units in August). TVS Motor registered 18,084 units, up from 17,649 units in August.

    Ather Energy also saw a boost in sales, with volumes climbing to 12,676 units in September (from 10,980 units in August).

    Ola Electric’s rivals have launched newer models which are priced closer to those of Ola.

    The company’s share has also lost its sheen, hovering around Rs 100 from its all-time high of Rs 157.40 — a loss of about 38 per cent. The share of the electric two-wheeler maker has declined for the ninth out of the last 11 sessions.

    As per reports, Ola Electric’s flagship S1 series EV scooter has become a nightmare for hundreds of customers who are consistently facing issues like malfunctioning hardware and glitching software and spare parts are hard to come by, resulting in inordinate delays. Market analysts say that the share is showing extreme volatility due to challenges the company faces as well as rising competition and service-related issues.

    Trade analysts said the stock is currently loss-making and trading at high valuations.

    (With inputs from IANS)

     

  • NK Proteins Executives Priyam Patel and Bhavna Shah Strengthen Industry Leadership with Key Appointments in SEA and IVPA

    Ahmedabad, October 02: In a clear indication of the growing significance of NK Proteins Private Limited in India’s edible oil sector, two senior members of its leadership team— Managing Director Mr. Priyam Patel and Deputy CEO Dr. Bhavna Shah—have been appointed to key positions in two of the most prominent trade bodies in the industry. Mr. Patel has been elected as Chairman of the West Zone of the Solvent Extractors’ Association of India (SEA), while Dr. Shah has been appointed Vice President of the Indian Vegetable Oil Producers’ Association (IVPA).

    Mr. Patel’s leadership at NK Proteins has been marked by innovation and strategic growth, transforming the company into a household name in the edible oil sector. His election as Chairman of SEA’s West Zone highlights his deep commitment to driving positive change in the industry.

    Managing Director Mr. Priyam Patel
    Mr. Priyam Patel

    On his appointment, Mr. Patel said, “It is an honour to be elected as Chairman of SEA’s West Zone. I look forward to collaborating with industry stakeholders to address the challenges we face and to foster innovation and sustainability. Together, we can shape a better future for the edible oil industry, benefiting both producers and consumers.”

    Dr. Shah, with nearly three decades of experience, has brought immense value to NK Proteins through her expertise in market development and international trade relations. Her appointment as Vice President of IVPA reflects her influential role in the sector. Having previously held leadership positions at the Malaysian Palm Oil Council, she has been instrumental in advancing sustainable practices within the industry.

    Dr. Bhavna Shah
    Dr. Bhavna Shah

    Commenting on her new role, Dr. Shah said, “I am honoured to take on this responsibility at IVPA and look forward to contributing to the continued growth of the vegetable oil sector. My focus will be on promoting innovation and sustainability, which are critical for the industry’s long-term success.”

    These appointments further cement NK Proteins’ standing as a leader in the edible oil sector, with its leadership team playing a crucial role in shaping the industry’s future.


    Neel Achary

  • 2000 rupee notes: RBI released the latest update on 2000 rupee notes, check details here

    2000 Rupee Notes
    2000 Rupee Notes

    The Reserve Bank of India (RBI) on Tuesday released the latest update on 2000 rupee notes. RBI said that 98 percent of 2000 rupee notes have returned to the banks.

    But RBI also said that 2 percent of 2000 rupee notes withdrawn from circulation, that is, about 7117 crore rupees worth of notes are still with the people and they have not yet returned to the banks. Let us tell you that on March 19 last year, the Reserve Bank of India had announced the withdrawal of 2000 rupee notes from circulation.

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    As of May 19, 2023, notes worth Rs 3.56 lakh crore were in circulation

    The total value of 2000 rupee notes in circulation till May 19, 2023 was Rs 3.56 lakh crore. Which has now come down to Rs 7117 crore on September 30, 2024. But the surprising thing here is that about one and a half years have passed since the RBI took the 2000 rupee notes out of circulation and people are still holding 2000 rupee notes worth Rs 7177 crore with them.

    2000 rupee notes could be deposited or exchanged in banks till October 7, 2023
    The Reserve Bank of India said in a statement, “98 percent of the Rs 2000 banknotes in circulation as on May 19, 2023 have been returned.” The last date for depositing or exchanging Rs 2000 banknotes in circulation was October 7, 2023 in all banks across the country.

    The facility for exchanging the Rs 2000 banknotes withdrawn from circulation is available at 19 issue offices of the Reserve Bank from May 19, 2023. RBI’s issue offices are also accepting or exchanging Rs 2000 banknotes from individuals and entities for depositing them in their bank accounts from October 9, 2023.

    Notes can also be sent to RBI’s issue office through post

    Apart from this, Rs 2000 notes can also be sent to any issue office of RBI through Indian Post in the country. This money is deposited in their bank account. The 19 RBI offices that deposit/exchange bank notes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram. Let us tell you that Rs 2000 bank notes were issued after demonetization of Rs 1000 and Rs 500 bank notes in November 2016.

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  • Foxit’s New AI-Enabled PDF Editor+ and Enhanced Solutions to Be Distributed by BD Soft in India

    Mumbai, 01st October 2024: BD Soft, a leading distributor of cutting-edge IT solutions, is now set to offer Foxit’s latest AI-enabled PDF Editor+ and other advanced PDF solutions across India. With a focus on simplifying and streamlining document workflows, Foxit’s suite of solutions, including Foxit PDF Editor and Foxit eSign, is tailored to meet the needs of modern businesses and enhance productivity.

    Foxit has expanded its offerings over the past year, addressing the evolving demands of businesses. The Foxit PDF Editor provides a comprehensive set of tools, such as OCR integration, form creation and auto-filling, annotation, and password protection. The inclusion of an AI Assistant powered by ChatGPT further enhances user efficiency by automating repetitive tasks and offering smart workflow suggestions. Foxit PDF Editor+ takes it a step further, bundling Foxit eSign, advanced AI functionalities, a Mobile App, and more cloud storage, making it the ultimate solution for both small and large enterprises.

    BD Soft will now distribute these innovative solutions across India, ensuring that businesses—from freelancers to large enterprises—can access the latest in document management technology. Leveraging local partnerships and marketing efforts, BD Soft aims to drive adoption of Foxit’s advanced PDF tools among enterprises and individuals.

    Commenting on their offerings to the Indian markets, Ms. Jenny Li, President of APAC at Foxit said “Our mission has always been to empower businesses to optimize their document workflows. With the offering of the AI-enabled PDF Editor+ and our other advanced solutions, we are giving a powerful suite that meets the evolving needs of businesses in India. These features are designed to simplify tasks while improving accuracy, speed, and collaboration across teams.”

    “Foxit has built a reputation for excellence, and their focus on delivering high-performance, AI-driven solutions aligns perfectly with what the Indian market demands. We are excited to distribute Foxit’s latest offerings and bring their powerful PDF solutions to businesses across the country, helping them simplify their processes and embrace the future of work.” said Mr. Zakir Hussain Rangwala, CEO of BD Soft.

    BD Soft is set to expand its portfolio by distributing Foxit PDF solutions across India. This strategic move reinforces BD Soft’s commitment to delivering premium software solutions, addressing critical document management needs. By offering robust PDF editing and enhanced solutions, BD Soft aims to enhance operational efficiency for enterprises and individual users.


    Mansi Praharaj

  • Panasonic and T-Hub Collaborate to Drive Adoption of Nessum High-Definition Power Line Communication Technology in India

    Panasonic and T-Hub Collaborate to Drive Adoption of Nessum High-Definition Power Line Communication Technology in IndiaIndia 01st October 2024: Panasonic, a global leader in innovative technologies, and T-Hub, the world’s largest innovation campus and India’s premier startup incubator, have formed a strategic partnership to accelerate the commercialization of Panasonic’s cutting-edge Nessum High Definition – Power Line Communication (HD-PLC) Technology in India. This collaboration marks a significant milestone in fostering innovation and business collaboration between India and Japan.

    Nessum HD-PLC Technology offers a cost-effective solution for data communication over existing wires, reducing the need for additional wiring when creating smart spaces. The technology has been successfully implemented in numerous commercial and residential projects across Japan and Europe.

    “We are excited to deepen our ties with India through our partnership with T-Hub,” said Kotaro Matsuo, Chief Engineer/Marketing Manager at Panasonic Holdings. “As India emerges as a global innovation hub, we aim to create opportunities that benefit both Japanese and Indian technology companies by leveraging Panasonic’s advanced Nessum Technology.”

    Panasonic will leverage T-Hub’s expertise to identify Indian startup ecosystem partners for the successful adoption and commercialization of Nessum Technology. T-Hub will select startups and partners based on their alignment with Panasonic’s strategic goals, market potential, and readiness to scale with Panasonic’s support.

    Sharing his views Manish Misra, Chief Innovation Officer, Panasonic Life Solutions India, said, “Panasonic is dedicated to open innovation, utilizing tech collaboration to address critical challenges for enterprises and end customers. Nessum HD-PLC enables cost-effective data transfer over existing wired cables, particularly beneficial in challenging environments such as concrete or metal structures, underground spaces, tunnels, smart cities, elevators, and robotic machines where distant connectivity is crucial. We are excited to introduce this technology in India for the first time and collaborate with talented Indian startups through our partnership with T-Hub to develop effective communication solutions for enterprises.”

    Technologies such as Nessum HD-PLC are set to empower startups by driving innovation across a range of sectors, including smart spaces, IoT, industrial automation, and connected devices. Mahankali Srinivas Rao (MSR), CEO of T-Hub, underscores this potential, stating, “At T-Hub, we are dedicated to nurturing innovation and empowering startups with the resources they need to scale globally. Our collaboration with Panasonic opens new opportunities for Indian startups, providing a unique platform to access the North American and Japanese markets. The Panasonic Innovation Challenge will foster cross-border collaboration, benefiting both ecosystems and driving technology-driven growth.”

    The Innovation Challenge  commences with a call for applications in September 2024, inviting startups from India and beyond to leverage Nessum HD-PLC Technology. The program will include roadshows in major cities like Bangalore, Mumbai, and Hyderabad, culminating in a Demo Day at T-Hub in December 2024, where selected startups will pitch their solutions for potential collaboration with Panasonic.


    Mansi Praharaj