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Category: Business

  • Sensex trades lower at 551 pts down as negative global cues loom

    sensex

    IANS

    Indian equity indices opened in the red on Monday following negative cues from global equity markets. At 9:40 a.m. Sensex was down 551 points or 0.64 per cent at 85,019 and Nifty was down 163 points or 0.63 per cent at 26,015.

    In the BSE benchmark, Tata Steel, JSW Steel, Titan, Asian Paints, HUL, HCL Tech and Bajaj Finance were top gainers. Tech Mahindra, ICICI Bank, Axis Bank, Tata Motors, Reliance, M&M, Power Grid, IndusInd Bank, SBI, Bharti Airtel, UltraTech Cement and HDFC Bank were top losers.

    Selling was also seen in the midcap and smallcap stocks. Nifty midcap 100 index was down 482 points or 0.80 per cent at 59,898 and Nifty smallcap 100 index was down 137 points or 0.71 per cent at 19,104.

    Among the Sectoral indices, Auto, IT, PSU Bank, finservice, pharma, energy and realty were major losers. FMCG and metal were major gainers. All markets in Asia except Hong Kong and Shanghai are in decline.

    sensex

    Special session held on Saturday, My 18, 2024 to test the disaster recovery site.IANS

    Tokyo, Seoul and Jakarta are major losers. The US markets closed mixed in Friday’s trading session. According to the market experts, “Market is likely to move into a consolidation phase in the near-term.One significant factor that is influencing foreign portfolios is the outperformance of the Chinese stocks which is reflected in the massive surge in the Hang Seng index by around 18 per cent in September.”

    “FIIs may continue to sell in India and move some more money to better-performing markets. FII selling is unlikely to impact the Indian market significantly since the massive domestic money can easily absorb whatever the FIIs are selling. Investors can use dips to buy quality largecaps which are fairly valued,” they added.

    The foreign institutional investors (FIIs) turned net sellers as they sold equities worth Rs 1,209 crore on September 27, while domestic institutional investors extended their buying as they bought equities worth Rs 6,886 crore on the same day.

    (With inputs from IANS)

  • Musk’s X downgraded 79% by Fidelity, platform likely worth $9.4 bn now

    Fidelity reduces value of Musk's X by 79 pc, platform likely worth $9.4 bn

    Fidelity reduces value of Musk’s X by 79 pc, platform likely worth $9.4 bnIANS

    Global investment firm Fidelity has reduce the value of its holding in Elon Musk-run X (formerly Twitter) by a massive 78.7 per cent, which implies that the X social media platform is likely valued at just $9.4 billion.

    The tech billionaire had bought the social media company for $44 billion in October 2022 after an intense drama.

    As per new estimate from asset manager Fidelity, X is now valued at less than a quarter of its $44 billion purchase price (at August end), reports TechCrunch, citing its filings.

    The fund now values its stake in X at approximately $4.18 million. In July, Fidelity valued its shares in X at about $5.5 million.

    X, Fidelity or Musk did not immediately comment on the report based on regulatory disclosures.

    In May, Musk-run artificial intelligence (AI) company xAI raised $6 billion to accelerate the research and development of future technologies. In a post, the X owner said the pre-money valuation was $18 billion.

    Second Neuralink chip recipient progressing well: Elon Musk

    Musk had reportedly told bankers, after taking $13 billion in loan to fund his Twitter acquisitionIANS

    xAI, which has unveiled an AI chatbot called ‘Grok’, raised funds from key investors, including Fidelity Management and Research.

    In January this year, the global investment firm Fidelity marked down its investment in Musk-run X Holdings (the parent company of X) by a whopping 71.5 per cent from the original value.

    Fidelity took a stake in X Corp for $300 million in October 2022 when Musk acquired the platform, formerly called Twitter, for $44 billion.

    In 2023, Fidelity had cut the valuation by 65 per cent, and now, it has further cut X’s valuation in a new disclosure.

    Musk had reportedly told bankers, after taking $13 billion in loan to fund his Twitter acquisition, that they will not lose any money on the deal. The debt is split between $6.5 billion of term loans, as well as $6 billion of senior and junior bonds and a $500 million revolver. Lenders were unlikely to get even 60 cents on the dollar for the bonds and loans.

    (With inputs from IANS)

  • PAN Card: You can download e-PAN card in minutes, no need to go anywhere

    PAN Card News- Income Tax Department provides the facility of downloading electronic PAN card (E-PAN Card) to PAN card holders. Therefore, if your PAN card is lost, you do not need to panic. You can download e-PAN card (e-PAN Card Download) in just a few minutes sitting at home.

    The importance of PAN card has increased a lot these days. Now from filing income tax return to opening a bank account, starting a business and buying and selling property, it has now become an essential document. It would not be wrong to say that today’s financial work is almost impossible without a PAN card. If your PAN card is lost, you can definitely get upset. But there is nothing to panic about.

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    The Income Tax Department has provided the facility to PAN card holders to download electronic PAN card. Therefore, if your PAN card is lost, you can download e-PAN card in a few minutes from the comfort of your home. The good thing is that most financial institutions accept e-PAN card. PAN card is a 10 digit alphanumeric number issued by the Income Tax Department, while e-PAN is a virtual PAN card that can be used anywhere for e-verification.

    Take care of your PAN card.

    However, the Income Tax Department always appeals to PAN card users to keep it safe and not share information related to it with unknown people. Cases of fraud related to PAN card are now increasing rapidly. Many times such cases have come to light where other people take loans using someone’s PAN card or misuse it for other purposes.

    Download e-PAN card like this

    • Login to the official website of Income Tax
    • Click on the e-PAN card option here.
    • Then fill in your PAN number.
    • After this you will have to enter the Aadhar card number.
    • Then enter the date of birth.
    • After this click on Terms and Conditions.
    • Enter your Registered Mobile Number in the provided place.
    • After this, fill the OTP received on the registered mobile number.
    • After this click on the Confirmation option.
    • Then pay the fee to download e-PAN.
    • You can pay for it via UPI, debit or credit card.
    • After this you will be able to download e-PAN.
    • To download the PDF of e-PAN card, enter the date of birth as the password. Your e-PAN will be downloaded.

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    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

  • TECNO’s The Great Indian Festival Sale on Amazon

    TECNO’s The Great Indian Festival Sale on Amazon

    September 30, 2024,New Delhi, Delhi, India : TECNO offers amazing limited-time deals on its best-selling smartphones including POP 9 5G, POVA 6 Neo, SPARK GO 1, CAMON 20 Premier, CAMON 30, PHANTOM V Flip, PHANTOM X2 and PHANTOM X2 Pro
    Amazon Great Indian Festival Sale for customers are live from 27th September

    Get ready for an epic smartphone shopping spree! TECNO, the global smartphone brand is kicking off the Indian Festive Season with amazing discounts. Partnering with Amazon’s The Great Indian Festival starting September 27, the brand is rolling out unbeatable deals on its top-notch smartphones.

    Get your hands on the 5G-ready POP 9, the powerhouse POVA 6 Neo, and the all-rounder SPARK GO 1. Additionally, TECNO has announced amazing offers on the stylish CAMON 20 Premier and the camera genius CAMON 30. What’s more? Users can avail unbeatable discounts on the PHANTOM V Flip, the dynamic PHANTOM X2 and the PHANTOM X2 Pro. Don’t miss these incredible offers—head over to Amazon and shop to your heart’s content!

    POP 9 5G
    The TECNO POP 9 5G brings next-gen connectivity to everyone with blazing 5G speeds, starting at just INR 8,499. POP 9 5G features a segment-first 48MP Sony AI camera for stunning photography and a 120Hz refresh rate for smooth, lag-free scrolling and gaming. Designed for trendsetting youth, it offers vibrant designs and an all-directional segment first 5G with NFC for effortless payments and sharing. The POP 9 5G makes premium features accessible, ensuring young, first-time smartphone buyers get a bold, high-performance experience. Users can pre-book the device via Amazon offering two in-the-box super fun and vibrant mobile skins.

    POVA 6 NEO
    The TECNO POVA 6 Neo 5G is here to power up your everyday life, perfectly tailored for the diverse needs of the Indian market. Packed with advanced AI capabilities, including AIGC Portrait, AI Magic Eraser, AI Cutout, AI Wallpaper, AI ArtBoard, and Ask AI, this smartphone learns your rhythm and anticipates your needs. Additionally, it boasts a segment first 5G with 16GB* RAM and 256GB ROM, along with a stunning segment first 5G with 108MP AI main camera for amazing photography experiences. This phone offers a true smart mobile experience at INR 12,499**.

    SPARK GO 1
    The TECNO SPARK GO 1 redefines affordable excellence with a segment-first 120Hz refresh rate, offering ultra-smooth scrolling and seamless media experiences. With 8GB* RAM, it delivers fast multitasking, while dual stereo speakers with DTS ensure immersive, crystal-clear audio. Built for durability, it promises over 4+ years of lag-free performance, keeping you ahead. The AI Noise Cancellation feature also ensures clear calls, even in noisy environments, making the SPARK GO 1 the all-rounder in its category. After an instant bank discount, this device is available at just INR 7,299.

    CAMON 20 Premier
    The TECNO CAMON 20 Premier offers a seamless experience powered by the Dimensity 8050 Octa-Core Processor. Its industry-first Sensor-Shift Stabilisation with RGBW Pro and 108MP Ultra-wide rear lens offers the Ultimate Imaging experience. Additionally, the device features a 2MP Macro sensor for close-up shots and a 32MP UHD Selfie camera for stunning self-portraits. Available in two variants, the phone is offered at a starting price of INR 13,749 as part of the special festive sale.

    PHANTOM V Flip
    The TECNO Phantom V Flip is the ultimate style statement for those who crave the perfect blend of fashion and cutting-edge tech! One doesn’t need to carry a tripod to capture those fun Diwali shots and videos – the phone’s flawless design gives you unbeatable angles and rock-solid stability. Get ready to shine bright and capture every festive moment in stunning clarity! With the benefit of an additional coupon worth INR 25,000, Phantom V Flip is available at the stunning price of INR 28,649.

    Don’t miss out on these irresistible offers—snag them before they’re gone! TECNO is turning up the excitement during the Amazon Great Indian festival. Head over to Amazon now to pick up your favourite smartphone.


    Praveen

  • NBR Group Announces Landmark Rs.1200 Crore Luxury High-rise Project in Sarjapur-Mullur, Bengaluru

    30th Sept 2024  Bengaluru, Karnataka, India  NBR Group, a leading Bengaluru-based real estate developer, is thrilled to announce the acquisition of a prime 9.65-acre land parcel in the prestigious Sarjapur-Mullur suburb of Bengaluru. This strategic acquisition will facilitate the development of a luxurious high-rise residential project valued at over ₹1200 crore.

    The ambitious project will feature an impressive saleable area of approximately 9 lakh square feet, with an anticipated gross development value exceeding ₹1200 crore. Designed to redefine luxury living, this development will include state-of-the-art amenities, sustainable building practices, and premium residential spaces that cater to the discerning tastes of modern homebuyers.

    “We are thrilled to announce the acquisition of this prime land parcel in Sarjapur-Mullur, Bengaluru. This area represents a mature market with a robust demand for residential real estate and a limited supply of land,” said Nagabushana Reddy, Managing Director of NBR Group. “This project marks a significant expansion for NBR Group in the luxury housing segment, catering to the high demand for premium residential spaces in Bengaluru. Our commitment to quality and excellence will ensure that this project sets new benchmarks in the industry,” added by the Managing Director.

    The Sarjapur-Mullur area is known for its excellent connectivity, proximity to key IT hubs, and access to top-tier educational institutions, making it a highly sought-after location for residential developments. The new project by NBR Group will not only enhance the urban landscape but also provide a unique blend of modern living and natural tranquility.

    NBR Group has a long-standing reputation for developing high-quality residential projects that meet the evolving needs of homebuyers. With a focus on innovation, sustainability, and customer satisfaction, the company has consistently delivered exceptional living spaces that stand the test of time. This latest project further cements NBR Group’s position as a leading developer of luxury residences in Bengaluru.


    Mansi Praharaj

  • Court orders to register FIR against Nirmala Sitharaman accused of extorting money through electoral bonds

    An FIR was ordered to be registered against Union Finance Minister Nirmala Sitharaman. She has been accused of extortion through electoral bonds.

    A special Lok Adalat in Bengaluru, while hearing this complaint, has ordered the registration of an FIR against the Finance Minister as well as many other leaders.

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    Adarsh ​​Iyer, co-president of Janadhikar Sangharsh Parishad (JSP), had filed a complaint in the special court of public representatives in Bengaluru and demanded a direction to take action against Union Minister Nirmala Sitharaman. He had complained that extortion was done by intimidation through electoral bonds. Hearing the petition, the court has ordered the Tilak Nagar Police Station of Bengaluru to register an FIR in the case of extortion through electoral bonds. The ACMM Court has also issued an order directing to send a copy of the complaint and the record to the police station. Due to the pending FIR, the hearing has been postponed till the 10th.

    The court has ordered the Tilak Nagar police to register an FIR. Along with Finance Minister Nirmala Sitharaman, BJP National President J.P. Nadda, BJP State President B.Y. Vijayendra, BJP leader Nalin Kumar Kateel, Central and State BJP Office and ED. The complaint has been filed against the department.

    The complaint states that from April 2019 to August 2022, about Rs 230 crore was collected from businessman Anil Agarwal’s firm and Rs 49 crore from Aurobindo Pharmacy through electoral bonds.

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  • Do You Know Traffic Police Cannot Confiscate Your Vehicle Keys ? know what the rule says?

    Many times people break traffic rules unknowingly while driving. Due to these mistakes, they also get challaned. However, this does not mean that a traffic constable should take away the keys of your vehicle.

    If the constable is taking the keys from your vehicle, then this is also against the rules. The constable does not have the right to arrest you or seize the vehicle. However, many people do not know this. They get scared on seeing the traffic police at fault.

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    No right to take out the keys

    Under the Indian Motor Vehicle Act 1932, only an ASI level officer can issue a challan for traffic violation. ASI, SI, Inspector have the right to impose spot fines. Traffic constables are there only to assist them. They do not have the right to take away anyone’s vehicle keys. Not only this, they cannot even deflate your vehicle’s tyres. They cannot talk to you in a wrong way or misbehave with you. If a traffic policeman is harassing you without any reason, then you can also take action against him.

    You should also keep these things in mind

    To issue a challan, the traffic police must have a challan book or an e-challan machine. If they do not have any of these two, then your challan cannot be issued. It is also necessary for the traffic police to be in uniform. The uniform must have the buckle number and the name. In case of not wearing a uniform, the policeman may be asked to show his identity card.

    The head constable of the traffic police can fine you only Rs 100. Only a traffic officer i.e. ASI or SI can impose a fine higher than this. This means they can issue a challan of more than Rs 100. If a traffic constable takes out the keys of your vehicle, then make a video of that incident. You can go to the police station of that area and show this video to a senior officer and complain about him.

    While driving, you should have the original copy of your driving license and pollution under control certificate. Photocopy of vehicle registration and insurance will also do. If you do not have money on the spot, you can pay the fine later. In such a situation, the court issues a challan, which will have to be paid in the court. During this time, the traffic officer can keep your driving license with him.

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  • IPO market buzz continues next week with 3 new public issues

    IPO market buzz continues next week with 3 new public issues

    IANS

    India’s primary market continues to boom, with three SME IPOs set to launch next week from September 30, and the market will see several main board IPO listings like KRN Heat Exchanges, which received massive subscriptions of over 200 times.

    NeoPolitan Pizza & Foods SME IPO will open for retail investors from September 30 to October 4. Under this IPO, the company plans to raise capital of Rs 12 crore. This entire IPO will be a fresh issue, in which 60 lakh new shares will be issued.

    Paramount Dye Tec SME IPO, opens for subscription on September 30, 2024. Investors can bid for this IPO till October 3, 2024. Its issue size is Rs 28.43 crore. This entire IPO will be a fresh issue, in which 24.3 lakh shares will be issued.

    Subscription of Subam Papers SME IPO will open to the general public on September 30, 2024, and close on October 3, 2024. The issue size of this IPO is Rs 93.70 crore. The issue is entirely a fresh issue of 61.65 lakh new shares.

    MARKET

    Three main board companies will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) next week.

    Manba Finance will be listed on NSE and BSE on September 30. This IPO was open for retail investors from September 23 to September 25. The size of this IPO was Rs 150.84 crore and it was a completely fresh issue.

    The allotment of KRN Heat Exchanger and Refrigeration is expected to be finalised on September 30. The listing of shares will be on NSE and BSE on October 3. This IPO was open for retail investors from September 25 to September 27. Its issue size was Rs 341.95 crore.

    Diffusion Engineers IPO subscription will close on September 30. Its allotment is expected to be finalised on October 1, 2024. Diffusion Engineers shares may be listed on NSE, BSE on October 4.

    (With inputs from IANS)

  • Central Govt amended the Variable Dearness Allowance (VDA) for workers

    Modi Govt Minimum Wage Hike: Before Diwali 2024, the Narendra Modi government at the Center has given a big gift to the workers. The government has announced to increase their minimum wage rates.

    The central government led by Prime Minister Narendra Modi has given a big gift to the workers of the country and has brightened their Diwali (Diwali 2024) even more. Actually, the government (Central Government) has amended the Variable Dearness Allowance i.e. VDA for the workers and has announced to increase the minimum wage rate to Rs 1,035 per day. Let us know how much money will come in the hands of the workers every month after this announcement…

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    Unskilled workers will now get this much wages.

    On Thursday, the PM Modi-led government made a big announcement and increased the minimum wage rates for workers. According to PTI, while sharing the information about this decision of the government, the Ministry of Labor said that the purpose of this decision is to help the workers amid the rising cost of living.

    After the latest revision in the minimum wage rates, the minimum wage rate in Sector A for unskilled workers like construction, cleaning, loading and unloading of goods has been made Rs 783 per day and according to this, they will now earn Rs 20,358 every month.

    These workers earn more than Rs 26,000 per month.

    After the new changes made by the government in the minimum wage rates according to different categories of workers, now the minimum wage rate for semi-skilled workers has been increased to Rs 868 per day and they will get Rs 22,568 per month. Talking about skilled workers, clerical and unarmed watchmen or guards, their minimum wage has been increased to Rs 954 per day.

    According to this, his monthly wages will now be Rs 24,804 per month. Whereas highly skilled workers will now get Rs 26,910 every month, their minimum wage has been increased to Rs 1035 per day.

    When will the increased rates be implemented?

    After the announcement of increase in the minimum wage rates of workers, a statement issued by the Ministry of Labor said that the central government has amended this VDA in view of helping the workers, especially the workers of the unorganized sector, in their livelihood. The new rates for workers will be effective from the first date of next month i.e. October 1, 2024 and they will be given benefits from April 2024. Let us tell you here that this is the second amendment of this year, earlier changes were made in the month of April.

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  • Good news for rail passengers traveling from Delhi to Bihar on Diwali and Chhath, Railway will run Vande Bharat Special train

    New Delhi: There is good news for rail passengers travelling from Delhi to Bihar on the occasion of Diwali and Chhath. According to sources, the Railways has decided to run Vande Bharat special train in view of the rush of passengers.

    According to the information, the Railways will run a 20-coach Vande Bharat special train from Delhi to Bihar. For the first time, Vande Bharat train will be run as a special train during the festive season. These special trains will run from Delhi to Patna, Darbhanga, Gaya, Muzaffarpur, Bhagalpur and Gorakhpur.

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    Keeping in mind the convenience of the passengers, the Railways has decided to increase general coaches in 108 trains. Railway Minister Ashwini Vaishnav said that this time general coaches have been increased in 108 trains during the festive season. A provision of 12,500 coaches has been made for Chhath Puja and Diwali special trains. So far 5,975 trains have been notified in the year 2024-25. This time in the festive season, more than 1 crore passengers will be facilitated to go home.

    Last year, a total of 4,429 special trains were run during the festive season in 2023-24. Compared to last year, more than a thousand trains will be run this year. Railways has issued a list to all zones to run special trains during Diwali and Chhath. The maximum number of 130 trains will be run from Northern Railway. 104 special trains will be run from SCR zone. 99 trains will be run from ECR zone. In this way, Railways has decided to run special trains from all zones.

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