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The unsung warriors of 'The Price Is Right'

<ul class="summary-list"><li>My ex and I broke up but continued living together because I couldn't afford to move out.</li><li>Living together has its challenges, but it has helped us avoid spending too much money.</li></ul>"You're still living with him?" my friend prodded during one of our weekly coffee meet-ups. Like most of my friends, she's still puzzled about why I live with my ex even though <a target="_blank" class="" href="https://www.businessinsider.com/moved-to-spain-for-love-broke-up-still-live-here-2024-11">we broke up</a>. For the umpteenth time, she offers me one of her spare couches to crash on for a month as I figure "everything out."Typically, most people would dread bumping into their ex, but I've been living with mine out of <a target="_blank" class="" href="https://www.businessinsider.com/no-buy-year-experience-saving-money-2024-10">financial necessity</a>.About a year ago, I broke up amicably with <a target="_blank" class="" href="https://www.businessinsider.com/my-partner-is-monogamous-but-im-not-2024-10">my boyfriend</a> of three years. We met in college in early 2021, pursuing the same major, and began dating almost immediately. Three months later, we moved in together. Initially, we got along just fine. We both loved the outdoors, and we'd spend the weekends searching for a new hike or caving adventure.However, as we transitioned from <a target="_blank" class="" href="https://www.businessinsider.com/choosing-college-major-what-students-need-to-know-2023-11">college students</a> to young professionals, our individual priorities shifted. He wanted to settle down and have kids almost immediately, while I just started a new career in freelancing.After three years of dating, we broke up to pursue our own interests.<h2 id="dad3b2ee-e212-43ce-8b85-3a204e14a17c">Living together after breaking up has saved us costs</h2>Initially, we wanted to go our separate ways after the breakup. However, we live in Nairobi, a city with one of Africa's most expensive <a target="_blank" class="" href="https://www.businessinsider.com/real-estate-top-cities-for-renters-rent-growth-apartment-supply-2024-9">rent prices</a>.While my ex has a relatively stable full-time job, I wasn't in a financial position to move out immediately. Due to the nature of my work, my income is pretty inconsistent, and moving out would have severely damaged my finances. Living on my own would have come with higher costs due to the "<a target="_blank" class="" href="https://www.businessinsider.com/monthly-expenses-single-person-rent-taxes-living-alone-zillow-2023-2">single tax</a>" of handling rent, utilities, and groceries solo.Once I shared my sentiments with <a target="_blank" class="" href="https://www.businessinsider.com/ex-husband-divorce-best-friend-2024-8">my ex</a> and informed him that I wanted to continue living together, he was on board with the idea.We've managed to keep expenses manageable by <a target="_blank" class="" href="https://www.businessinsider.com/hate-splitting-the-bill-evenly-cancer-changed-perspective-2024-3">splitting the bills</a>, even though we've had to redefine our relationship.<h2 id="2f41105f-3181-4ad9-956d-5f00d7130274">It was hard to set boundaries, but we've made it work</h2>For us, our biggest issue was <a target="_blank" class="" href="https://www.businessinsider.com/how-to-create-boundaries-at-work-2023-5">setting boundaries</a>, especially when it came to sharing the common areas and distributing chores. We'd get into petty arguments about who was to use the kitchen at what time or whose day it was to take out the trash.My ex would also get mad if I took up too much <a target="_blank" class="" href="https://www.businessinsider.com/behind-free-tv-rise-big-problem-for-hollywood-2024-8">TV time</a>. Eventually, we came up with separate times for cooking meals. For instance, during the evenings, I have the kitchen space to myself from 6 p.m. to 8:30 p.m., while my ex has his allocated time between 8:30 p.m. and 11 p.m. We've also allocated separate time to watch television, and all chores are split in half.Since we live in a <a target="_blank" class="" href="https://www.businessinsider.com/large-family-live-two-bedroom-apartment-los-angeles-2024-4">two-bedroom apartment</a>, we each have separate bedrooms with extra beds for our visitors. Whenever we want to bring a partner home, we rent out a hotel room to avoid making the other feel awkward.I have been upfront with all my dates about my <a target="_blank" class="" href="https://www.businessinsider.com/i-live-in-a-multigenerational-household-and-im-not-ashamed-2024-8">living situation</a>. Sometimes, it can be hard for them to comprehend my motive behind this arrangement, but eventually, most of them come around.<h2 id="dd2a67dd-6774-426a-85ce-5d93474293e2">We've also developed a platonic friendship</h2>Once we lost the <a target="_blank" class="" href="https://www.businessinsider.com/how-to-keep-the-spark-in-your-relationship-2017-7">romantic spark</a>, we began to see each other in a different light — not as partners but as companions who cared deeply for each other without romantic attachment.We catch up on each other's days like regular roommates do. My ex is comfortable offloading about his day at work to me, and I'm happy to share how my freelance work is progressing. Occasionally, we even share meals.I have realized that I prefer my ex more as a roommate than when he was my partner. Our bond now feels like a friendship between two people who respect each other's boundaries.I plan to save up enough money for at least a year to enable me to move out comfortably, but I plan to make a slow and steady transition. For now, I've found a balance in our shared space that is both financially practical and has led to a <a target="_blank" class="" href="https://www.businessinsider.com/moving-in-together-relationship-dynamic-change-2024-4">relationship dynamic</a> that works for us.

I couldn't afford to move out when my boyfriend and I broke up. We're still roommates a year later because it makes works for us.

<ul class="summary-list"><li>Chipotle has been facing claims that its <a target="_blank" class="" href="https://www.businessinsider.com/chipotle-portion-size-social-media-drama-means-more-generous-meals-2024-7">portion sizes</a> vary by restaurant.</li><li>One patron pulled pricing data and found some wide differences between Chipotle locations.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/chipotle-vs-qdoba-burrito-which-is-better-review-2023-9">Chipotle</a> was often the first stop for Adam Cohen and his teammates after ultimate Frisbee games in college at Binghamton University in New York."Me and my friends loved going to Chipotle," Cohen said. "We would get it after tournaments. It was just lots of calories, good bang for your buck."So when other patrons of the Mexican grill chain started questioning this summer whether portion sizes varied between restaurants — or whether <a target="_blank" class="" href="https://www.businessinsider.com/chipotle-customers-film-workers-over-small-portion-sizes-2024-5">filming Chipotle employees</a> as they prepared your order meant you got more meat — Cohen got inspired.In July, the 23-year-old set up <a target="_blank" class="" href="https://www.chipotlecost.com/">chipotlecost.com</a>, a website that lists the price of burrito bowls with one of seven different proteins at Chipotle restaurants around the US. The website provides a snapshot of Chipotle's prices for online orders.The differences between some Chipotle locations are particularly wide, according to the map. For example, the cheapest burrito bowls in the US are at a Chipotle in West Lafayette, Indiana, where a serving with carnitas runs $8.75. Bowls are most expensive at a store in The Bronx in New York City, where a carnitas bowl costs $12.25 — 40% more than in West Lafayette.Several years of painful US inflation have pushed consumers to think more carefully about how they spend their cash, and diners have been looking for <a target="_blank" class="" href="https://www.businessinsider.com/fast-food-price-rises-tipping-point-value-deals-combos-mcdonalds-2024-8">fast-food deals</a> lately when they eat out. While inflation has slowed, prices at many restaurants remain higher than a few years ago. Some chains, such as <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-extending-5-meal-again-adding-new-discounts-for-fall-2024-9">McDonald's</a>, started offering value meals this year to win over customers looking to save money.It's common for prices to vary at US restaurants depending on the cost of living where they're situated. Cohen's map includes color-coded dots for different price tiers, with green dots indicating stores with low prices and red dots denoting those with high prices.But the map also shows some more surprising price gaps between restaurants near each other.One Chipotle in Brea, California, charges $9.95 for a burrito bowl with Chicken Al Pastor, for instance, according to the website. A five-minute drive away, another Chipotle location was charging $10.95 for the same order when Cohen pulled the data.Chipotle did not respond to a request for comment.Regardless of the protein, a burrito bowl is likely to be more expensive in major cities on the East and West Coasts, such as New York, Los Angeles, and San Francisco, than in a small city in Ohio or Oklahoma, according to the map.<div type="image" title="Adam Cohen laughs while wearing a light-colored shirt and dark tie outside." height="800" width="800" msid="114119852" hostid="261" sizebytes="28580"></div>Cohen said he got the idea for the website from <a target="_blank" class="" href="https://taconomical.com/">taconomical.com</a>, a similar site that tracks prices for a handful of Taco Bell menu items at that chain's locations around the US. Creating the Chipotle version involved running a web scraper to collect the pricing data from Chipotle's website over 10 hours, Cohen said, plus about five hours of coding to build the website.It's not perfect, Cohen said. The map is missing some locations that weren't taking online orders when he pulled the data, he said, and the prices don't update in real time.But others appear to be impressed with chipotlecost.com. Cohen posted a link on Reddit, and the post got 1,200 upvotes (as well as comments asking for details about his methodology).Cohen said his own friends were impressed, too, including one who studied at Purdue University in Indiana, located near the West Lafayette Chipotle with the cheapest carnitas. "He was like, 'Oh, sick, I'm glad I've been getting the best prices for my entire college career,'" Cohen said."It's kind of hard to get a meal for $10 or $12," Cohen said. "You could get even one-and-a-half or two meals out of it. That's great."Do you work at Chipotle or another restaurant chain and have a story idea to share? Reach out to this reporter at abitter@businessinsider.com

Chipotle's prices vary across the US. Here's how to see the difference.

<ul><li><keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> added 12 lakh new clients in Apr-Jun as compared to 9.6 lakh in Jan-Mar.</li><li>The broking house has given ₹5.15 dividend per share in the first quarter of this financial year.</li><li>Average monthly net broking income rose to ₹68.5 crore in June quarter from ₹33.9 crore in the corresponding quarter last year.</li></ul>Awareness about investment, savings, insurance and wealth creation seems to have peaked during the pandemic and that is being reflected in India’s equity markets as well. The increase in stock market investment has benefitted traditional stock broking companies like Angel Broking, which added 12 lakh new clients between April and June as against 9.6 lakh it added during this time last year. “It is heartening to see that we continue to sustain high growth across parameters, even on a large base, with a majority of incremental clients coming from tier 2, 3 and beyond cities. As Bharat opens up more aggressively, to the idea of systematic wealth creation, we shall witness a massive growth opportunity unfolding, for the fintech industry,” said Narayan Gangadhar, chief executive officer of Angel Broking in a press note. Investors cheered this news on Dalal Street as the shares of the company surged 20% to ₹1,272 at 1:08 p.m., on Friday, July 16. Mirroring these gains, shares of peer Motilal Oswal also surged 13% to ₹1,149 as of 1:08 p.m. The rising number of investors under Angel Broking has accelerated the company’s net broking income. Out of the ₹474 crore of total income, 68% of income -- ₹322 crore -- has come from broking. The broking house has also announced a dividend of ₹5.15 per share. <div type="image" title="Angel broking net broking income" height="900" width="1200" msid="84469003" hostid="261"></div> The broking house also reported a massive jump of over 200% in net profit. Its revenue from operations increased to ₹457 crore in June quarter from ₹236 crore last year. <div type="image" title="Angel broking profit" height="900" width="1200" msid="84469017" hostid="261"></div> Angel Broking is among the top five stock brokers -- others being Zerodha, Upstox, ICICI Securities and HDFC securities -- with the highest market share. According to research platform Trade Brains, it holds a market share of 8.28%. <div type="image" title="Angel share chart" height="900" width="1200" msid="84469023" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;sup&amp;gt;&amp;lt;/sup&amp;gt;&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/news/paytm-has-filed-for-2-2-billion-ipo/articleshow/84465551.cms">Paytm has filed for $2.2 billion IPO </a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-scooter-design-battery-charging-time-and-expected-price-in-india/articleshow/84467839.cms">Ola electric scooter design, battery charging time and expected price in India</a>

Angel Broking shares surge 20% as rising awareness among investors turns in favour of the stock broker

<ul class="summary-list"><li><keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword>, <keyword id="19998989" type="General" weightage="20" keywordseo="Austin" source="keywords">Austin</keyword>, and LA were the top cities <keyword id="21217883" type="General" weightage="20" keywordseo="tech-talent" source="keywords">tech talent</keyword> moved to between 2022 and 2023, a SignalFire report found.</li><li><keyword id="19931966" type="General" weightage="20" keywordseo="San-Francisco" source="keywords">San Francisco</keyword>, Seattle, and Boston lost the greatest share of relocating tech workers.</li></ul>Tech talent making moves aren't just ending up in <a target="_blank" href="https://www.businessinsider.com/austin-attracting-most-san-francisco-talent-miami-nyc-remote-work-2023-12">Austin and Miami</a>. New York was the city that gained the biggest share of relocating tech talent between 2022 and 2023, a recent report by SignalFire found. While the San Francisco Bay Area is still the center of the tech world, a migration of tech employees out of California has continued since the rise in remote work. Among tech <a target="_blank" href="https://www.businessinsider.com/where-are-workers-moving-sarasota-tampa-florida-texas-linkedin-south-2024-1">workers who relocated</a> last year, the most common states for them to end up included New York, Texas, California, and Florida, according to the SignalFire report. The top nine cities tech workers relocated to were: <ul><li>New York City, New York </li><li>Austin, Texas </li><li><keyword id="19914983" type="General" weightage="20" keywordseo="Los-Angeles" source="keywords">Los Angeles</keyword>, California </li><li>Denver, Colorado </li><li>San Diego, California </li><li>Miami/Fort Lauderdale, Florida </li><li>Dallas/Fort Worth, Texas </li><li>Nashville, Tennessee </li><li>Tampa/St. Petersburg, Florida </li></ul><a target="_blank" href="https://www.businessinsider.com/openai-growth-plans-to-open-nyc-office-more-hiring-2024-4">New York</a> had a net gain in tech talent of about 3.5%, while Austin had a gain of about 1.5%. In third was Los Angeles, with a net gain of around 0.5% Meanwhile, the nine cities tech workers moved away from were: <ul><li>San Francisco, California </li><li>Seattle, Washington </li><li>Boston, Massachusetts </li><li>Phoenix, Arizona </li><li>Washington, DC </li><li>Sacramento, California </li><li>Portland, Oregon </li><li>Detroit, Michigan </li><li>Provo, Utah </li></ul>San Francisco saw a net loss in tech talent of over 3.5%, while Seattle lost just under 2.5%, and Boston lost more than 0.5 percent. The report found that 15% of all tech employees who moved between 2022 and 2023 went to New York. But New York managed to draw the biggest share of tech workers who moved between 2022 and 2023 despite its high housing prices and cost of living. The trend of <a target="_blank" href="https://www.businessinsider.com/top-cities-metros-people-in-us-are-moving-out-of-2024-4">people moving out of San Francisco and California,</a> generally, to cities in Texas and Florida, has been partially explained by a desire to escape high costs of living. But New York City managed to draw the biggest share of tech workers who moved last year despite its high housing prices and cost of living. Several of the cities attracting tech workers also happen to be <a target="_blank" href="https://www.businessinsider.com/blue-cities-red-states-tech-companies-austin-nashville-las-vegas-2023-12">"blue island" cities</a> located in red states, such as Austin, Nashville, Tampa, and Miami. In addition to the cities in the report, there are also <a target="_blank" href="https://www.businessinsider.com/small-cities-where-tech-workers-are-moving-2023-10">smaller cities across the US that have growing tech scenes</a>, including places in Utah, Idaho, and Arkansas. Correction: May 1, 2024 — An earlier version of this story misstated the time period the SignalFire report measured. It was between 2022 and 2023, not last year.

The top 9 cities tech talent is moving to — and 9 places they're leaving

<ul><li>The IPO price band was set at ₹305-306 per equity share and the stock listed at ₹275.</li><li> Within minutes after listing, the shares of <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> gained nearly 5% of their value and were trading at ₹287.85 apiece.</li><li>The company’s total market cap rose to ₹2,339.45 crore at 10:05 am.</li><li>Here’s why it failed to impress investors. </li></ul>It was a lacklustre debut for the ₹600 crore IPO of India’s fourth-largest stockbroking firm Angel Broking on the bourses today. The stock listed at ₹275, which is at a 10% discount to the IPO price band set at ₹305-306 per share. Within minutes after listing, the shares of Angel Broking gained nearly 5% of their value and were trading at ₹287.85 apiece at 10:05 am. <div type="image" title="Angel Broking (2)" msid="78486377" hostid="261"></div> The company’s total market cap rose to ₹2,339.45 crore at 10:05 am. A total traded quantity of 2.36 lakh shares changed hands on BSE, amounting to a turnover of ₹7.27 crore. Ahead of the IPO, Angel broking also raised ₹180 crore from 12 anchor investors that included Goldman Sachs India, Macquarie Fund Solutions, Invesco Trustee, Max Life Insurance company, ICICI Prudential, HDFC Mutual Fund, and Sundaram MF, among others. Why did it fail to garner investors' interest? The investor pessimism already reflected in the grey market premium ahead of the listing, it was trading much lower than its IPO peers. Most of the brokerage reports highlighted various vital factors that may impact its business in the near future. As of June, 30 Angel Broking garnered 72.2% of the total income from broking business, and according to HDFC Securities, "any reduction in its brokerage fee could have a material adverse effect on the business." With SEBI tightening rules here and there, brokerages remain cautious about Angel Broking's business. Tough competition The company also faces fierce competition from its other brokerages’ firms like — Zerodha and Share Khan, among others. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.15 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm Money (Mutual funds. Stock broking launched recently) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.6 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 lakh </td></tr></tbody></table>Source: Company data SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-tcs-hcl-tech-hero-motocorp-vedanta-solar-industries-iti-and-others/articleshow/78484703.cms" data-type="tilCustomLink">Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mazagon-dock-shipbuilders-ipo-share-allotment-status/articleshow/78474515.cms" data-type="tilCustomLink">Mazagon Dock Shipbuilders IPO allotment: Here’s how to check share allotment status</a>

Weak debut for Angel Broking — shares list at 10% discount from the IPO price

<ul><li>The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50. However, The US stock markets soared on Thursday, as investors cheered healthy economic data and bet on tech stocks to post strong quarterly earnings. The Dow Jones Industrial Average closed 139 points higher and the S&amp;P 500 gained 1.19%. These are the stocks to watch out for during the trading session on October 29: IndiGo India’s largest airline IndiGo reported a net loss of ₹1,194 crore for the second quarter ended September 30. The company had posted a net loss of ₹1,062 crore in the same quarter last year. The airline’s total income was down 65% to ₹3,029 crore. The shares of IndiGo ended 2.3% higher on Thursday. Tata Group stocks The Tata Group stocks such as Tata Motors, TCS, Tata Communications, among others, will be in focus throughout the trade today. The Shapoorji Pallonji Group has submitted a plan for separation from Tatas to the Supreme Court. The Mistrys have valued their holding in the Tatas at ₹1.75 lakh crore. Hindustan Petroleum (HPCL) The petroleum giant Hindustan Petroleum announced that its board would meet on November 4 to consider a share buyback plan as the company management feels the share price is lower than the value it deserves. The shares of HPCL ended 5% higher on Thursday. SpiceJet, IndiGo and other aviation-related stocks The stocks of SpiceJet, IndiGo and other aviation-related stocks will be in focus today. The Civil Aviation Minister Hardeep Singh Puri announced that the upper and lower limits on domestic airfares would remain in place for another three months post-November 24. The shares of SpiceJet ended 2% lower on Thursday. Mangalore Refinery and Petrochemicals Limited (MRPL) ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) registered a net profit of ₹35.84 crore in the second quarter ended September 30, as against a loss of ₹574.45 crore in the corresponding period last year. The shares of MRPL ended 1% lower on Thursday. Zensar Technologies Zensar Technologies reported an 11.7% rise in net profit to ₹89.2 crore for the second quarter ended September 30. The board of the company has also given in-principle approval for a merger of its wholly-owned subsidiary Cynosure Interface Services with the company. The merger aims at reducing administrative costs. The shares of Zensar Technologies ended 0.37% lower on Thursday. TVS Motor TVS Motor Company reported a 29.37% decline in consolidated net profit at ₹181.41 crore for the quarter ended September 30. The production and sales improved consistently from July onwards, but the commercial vehicle segment continued to hurt the company. The shares of TVS Motor ended over 1% lower on Thursday. Vodafone Idea Debt-ridden telecom firm Vodafone Idea reported narrowing of its consolidated loss to ₹7,218.2 crore for the quarter ended September 30. The company had posted a loss of ₹50,897.9 crore in the same quarter last year. However, the total income declined by about 3% to ₹10,830.5 crore during the reported quarter. The company’s subscriber base also declined to 27.18 crore in Q2, from 27.98 crore earlier. The shares of Vodafone Idea ended 4% lower on Thursday. Angel Broking Kuwait Investment Authority has acquired half a percent stake in retail broking company Angel Broking via open market transactions on October 29 for ₹321.73 per share. The shares of Angel Broking ended 3% higher on Thursday. Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL, Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL among others are slated to announce quarterly financial results today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/marutis-revenue-rises-10-as-car-sales-increase-but-high-commodity-prices-dampen-profit/articleshow/78929357.cms" data-type="tilCustomLink">Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms" data-type="tilCustomLink">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a>

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

<ul><li>Market is not rushing to downgrade <keyword id="17277356" type="General" weightage="90" keywordseo="jio-fin" source="Orion">Jio Fin</keyword> rivals just yet, despite its deep pockets and ability to disrupt.</li><li><keyword id="2003276" type="General" weightage="70" keywordseo="jio" source="Orion">Jio</keyword> Fin’s aggression in the unsecured loan business will decide how badly rivals will be impacted in times to come.</li><li>Given that cost of funds for JFS is expected to be significantly lower than other NBFCs, it can price its offerings much better than rivals in consumer finance. </li></ul> A behemoth was born on Monday with the listing of the financial services business of <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> on the exchanges. With the listing of <keyword id="15323576" type="General" weightage="100" keywordseo="jio-financial-services" source="Orion">Jio Financial Services</keyword>, the obvious question is the impact that this entity will have on other listed financial services players because it will take them head on. The obvious assumption is that companies that currently are in the consumer and MSME lending space will be directly impacted. Jio Fin’s rich parentage and high capital base will be its biggest advantage. The net worth of the newborn is higher than its nearest competitor and this will enable it to build a large loan book much faster. But this may not be enough to win in the marketplace as it is a total novice when it comes to underwriting and execution. The market will closely monitor Jio Fin’s aggression in the consumer finance business before downgrading its competitors. For now, the jury is out. Like all other businesses that Reliance has set foot in, even in financial services the market is expecting two things – scale and mega disruption. The first segment that Jio is set to rock first is the lending space. Jio Financial Services ahead of its listing on 18 August released some details on the structure of the company and businesses it would operate in. Jio Financial Services is not just a systemically important non-banking financial institution but also a core investment company (CIC). The RBI has mandated the conversion of Jio Fin into a CIC and NBFC over the next three months. What this essentially means is that all the other businesses will operate under this holding company as subsidiaries. In time, all the subsidiaries could also be listed. The key businesses that Jio Financial Services will be present include: Reliance Retail Finance, Reliance Retail Insurance Broking, Reliance Payment Solutions, Jio Payments Bank, the Asset Management Company will be a joint venture with Blackrock. Reliance Industrial Investments and Holdings will be the sole beneficiary of the 6.1% stake in Reliance Industries. Jio Information Aggregator Services will pursue the account aggregator business, which is yet to commence. Jio Infrastructure Management Services will offer project management services. The first segment that Jio Fin seeks to aggressively pursue is retail lending. The dominant player in this segment is Bajaj Finance, which offers small ticket loans to consumers to buy consumer durables. This business has been mastered by Bajaj Finance over the last decade and a half by tying up with stores like Vijay Sales and Croma. This is where Jio will strike first. Reliance Retail has over 550 digital stores against 517 stores owned by its two rivals Croma (387 stores) and Vijay Sales (130 stores). In merchant lending, its focus is on financing options for merchants in grocery, digital, fashion and pharma formats. According to Nomura, the focus of its MSME lending business will be better geographic penetration. Jio Fin will seek to meet the borrowing needs of small businesses that often resort to high-interest informal channels for small-ticket loans. The company will enter into secured loans in the medium term. Over a period of time Jio Fin will offer unsecured loans too. Sources in the banking industry believe that the new entrant will disrupt the sector with differentiated and cheaper offerings as it can afford to do it because of its strong capital base. The cost of funds of JFS are expected to be significantly lower than other NBFCs. According to Morgan Stanley, “The consolidated entity is starting with a capital base of Rs 114.1 bn as of March 2023 (Rs 193.5 bn ex-book value of RIL stake). If it were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes.” While the markets believe that Jio will put technology and analytics at the heart of the business, building data will take time. Also, given the competition in the sector, borrowing by consumers is high and that is also leading to higher delinquencies. Therefore, the franchise that Jio builds will matter more than the scale of the loan book. The other issue that analysts see is the capital base of the new entity. Jio Fin as a consolidated entity has a capital base of Rs 114,100 crore or Rs 1.14 trillion as of March 2023 (Rs19,350 crore ex-book value of RIL stake). According to Nomura, if Jio Fin were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. “While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes,” the report adds.

Will Jio Fin follow the retail, telecom model and disrupt the financial services sector?

<ul><li>At 7:45 am, the SGX Nifty was down 1.14%, indicating a negative start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>The Indian stock market is likely to open in red on Thursday, amid the weak sentiments from the global market. At 7:45 am, the SGX Nifty was down 1.14% pointing towards a negative start for Nifty50. In global markets, the US stocks resumed their heavy sell-off amidst weak macroeconomic indicators and overshadowed recovery outlook on Wednesday. The Dow Jones Industrial Average ended up 525.05 points lower, and the S&amp;P 500 was down 2.37%. These are the stocks to watch out for during the trading session on September 24: Zydus Wellness Zydus Wellness board has approved and authorised the opening of the Qualified Institutional Placement issue at ₹1,775.85 per share on September 23. The shares of Zydus Wellness ended 4% lower yesterday. HDFC Limited Housing Development Finance Corporation Ltd (HDFC) is looking to raise up to ₹5,000 crore by issuing bonds on a private placement basis. The issue size for the secured redeemable Non-Convertible Debentures (NCDs) will be ₹2,500 crore with an option to retain oversubscription of up to ₹2,500 crore, it said in a regulatory filing to stock exchanges. The shares of HDFC Limited ended 0.4% lower yesterday. Infrastructure Leasing &amp; Financial Services (<keyword id="6357293" type="UNKNOWN" weightage="20" keywordseo="ILFS">IL&amp;FS</keyword>) The government of India has extended the term of Uday Kotak as non-executive chairman of debt-ridden IL&amp;FS group by one year. Kotak is also the managing director and chief executive officer of Kotak Mahindra Bank. The shares of IL&amp;FS Transportation Networks ended 4% lower yesterday. Tata Consultancy Services IT major Tata Consultancy Services (TCS) along with the US-based Yale University announced the launch of a new framework that could help ensure privacy and trust in peer-to-peer digital networks. The company said this would be a critical element in enhancing blockchain solutions for greater adoption by consumers. The shares of TCS ended 3% lower yesterday. Future Consumer Future Consumer promoter, Future Capital, invoked 36.6 lakh pledged equity shares. The shares of Future Consumer ended 4% lower yesterday. Sun Pharma Sun Pharma voluntarily recalled one lot of RIOMET ER (metformin hydrochloride for extended-release oral suspension), to the consumer level. The reason for the recall by Sun Pharma came after testing showed high levels of N-nitrosodimethylamine (NDMA), which is above the USFDA norms. The shares of Sun Pharma ended 1.3% lower yesterday. ONGC A fire broke out on Thursday morning at ONGC’s Surat plant. According to <a href="https://www.ndtv.com/india-news/massive-fire-breaks-out-at-ongc-plant-in-gujarats-surat-after-gas-pipeline-blast-2300194">reports</a>, three consecutive blasts took place at two terminals of the Hazira-based ONGC plant in Surat at around 3:30 am. The shares of ONGC ended 2.3% lower yesterday. Angel Broking IPO The ₹600 crore IPO of Angel Broking closes today. The issue was subscribed 1.45 times, a retail portion at 2.8 times on day 2, yesterday. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/airbnb-ceo-brian-chesky-on-the-companys-ipo-when-the-markets-ready-for-airbnb-it-will-go-public/articleshow/78276873.cms" data-type="tilCustomLink">Airbnb CEO Brian Chesky on the company's IPO⁠— 'When the market's ready for Airbnb, it will go public'</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-subsidiary-sells-stake-in-altiostar-to-rakuten-for-45-million/articleshow/78273567.cms" data-type="tilCustomLink">Tech Mahindra subsidiary sells stake in Altiostar to Rakuten for $45 million</a>

Top stocks to watch— TCS, Future Consumer, ONGC, Zydus Wellness, HDFC, IL&FS, Angel Broking, Sun Pharma and others

Allied Blenders and Distillers Ltd, the maker of Officer's Choice whisky, on Thursday fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 267 to Rs 281 per share for its Rs 1,500-crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The initial share-sale will open for public during June 25-27 and the bidding for anchor investors will open for a day on June 24, the company announced. Broking firms have pegged the company's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> to Rs 7,860 crore post-issue. The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes. The total debt on the the company's books was around Rs 808 crore as of December 2023. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples thereof. With a market share of over 8 per cent in <keyword id="20830317" type="General" weightage="20" keywordseo="Indian-Made-Foreign-Liquor" source="keywords">Indian-Made Foreign Liquor</keyword> (IMFL) market by sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The product portfolio of the firm comprises several brands of IMFL across whisky, brandy, rum and vodka. Some of the major brands of the company include Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka. ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are the book running lead managers to the issue. The equity shares of the company are proposed to be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a><a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a>

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