New Delhi, Mar 1 () Mining baron Anil Agarwal, who was among the first to evince interest in bidding for Bharat Petroleum Corp Ltd (BPCL), says valuation of the firm is too high and his company Vedanta will evaluate bidding for it when the final bid document is out.<p> At the close of trading on Friday, BPCL had a market capitalisation of Rs 92,464.40 crore. At this price, the government's Rs 52.98 per cent stake that is being sold in the country's largest privatisation exercise is worth about Rs 49,000 crore.</p><p> The acquirer will also be required to make an open offer for another 26 per cent stake from minority shareholders which will cost another Rs 24,000 crore.</p><p> "We certainly are interested in bidding but the valuations are too high," Agarwal told  here. "The bid document is not yet out and we will carefully evaluate bidding once the offer document is out."</p><p> He said share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year.</p><p> "There are lot of synergies BPCL has with our business. I am the largest private oil producer in the country" and BPCL has refineries to process it and a network of petrol pumps to sell fuel produced from it, he said. "We will evaluate bidding (for BPCL), let's see."</p><p> The government plans to sell its entire 52.98 per cent stake in BPCL that will give buyers ready access to 14 per cent of India's oil refining capacity and about one-fifth of the fuel market share in the world's fastest-growing energy market.</p><p> "We are in oil business. We produce 30 per cent oil and gas of the country and this has natural synergies with BPCL," Agarwal said.</p><p> A two-stage bidding process is to be followed for privatisation of BPCL, wherein request for proposal or RFP in the first stage will be followed by due diligence-cum-bidding by qualified bidders in the second phase.</p><p> Privatisation of BPCL is essential for meeting the record Rs 2.1 lakh crore target Finance Minister Nirmala Sitharaman has set from disinvestment proceeds in the Budget for 2020-21 fiscal that starts April.</p><p> BPCL operates four refineries in Mumbai (Maharashtra), Kochi (Kerala), Bina (Madhya Pradesh) and Numaligarh (Assam) with a combined capacity of 38.3 million tonnes per annum, which is 15 per cent of India's total refining capacity of 249.4 million tonnes.</p><p> While the Numaligarh refinery will be carved out of BPCL and sold to a PSU, the new buyer of the company will get 35.3 million tonnes of refining capacity.</p><p> It also owns 15,177 petrol pumps and 6,011 LPG distributor agencies in the country.</p> Besides, it has 51 LPG (liquefied petroleum gas) bottling plants. The company distributes 21 per cent of petroleum products consumed in the country by volume as of March this year and has more than a fifth of the 250 aviation fuel stations in India.  ANZ  ABMABM

BPCL valuation high, evaluating bid: Anil Agarwal

<ul class="summary-list"><li>In March 1954, French troops were in northern <keyword id="13486" type="COUNTRY" weightage="60" keywordseo="Vietnam">Vietnam</keyword> for what commanders thought would be a decisive blow against the <keyword id="10952722" type="UNKNOWN" weightage="60" keywordseo="viet-minh">Viet Minh</keyword>.</li><li>By May, after weeks of brutal fighting, French forces surrendered, ending the battle of <keyword id="10952723" type="UNKNOWN" weightage="60" keywordseo="dien-bien-phu">Dien Bien Phu</keyword> and the <keyword id="10952724" type="UNKNOWN" weightage="60" keywordseo="french-indochina">French Indochina</keyword> War.</li><li>Western countries saw that war as essential to stopping the spread of communism, and the US was willing to take extreme action to win.</li></ul><p>On March 13, 1954, 200 Viet Minh artillery pieces began a massive bombardment of the French garrison at Dien Bien Phu in northern Vietnam.</p><p>The French had been preparing for an attack for some time, but the scale of the bombardment was much larger than they had thought possible.</p><p>Within a few hours, the situation was extremely dire. Some 49,000 Viet Minh stormed the garrison's outer strong points in human-wave attacks. The airstrip was under constant fire, and French counter-battery fire, meant to eliminate Viet Minh artillery, was hopelessly ineffective, with many French guns destroyed.</p><p>It was the beginning of a brutal 55-day siege that was the climax of the French War in Indochina, which Western countries saw as just as essential to stopping the spread of communism as the Korean War.</p><p>US support in the battle was covert but extensive. CIA-employed pilots flew vital resupply missions, while US Air Force personnel maintained the fleet of aircraft that the US had loaned to France.</p><p>As the battle unfolded, American officials debated direct involvement. According to some accounts, US officials even offered France <keyword id="50845" type="ORGANIZATION" weightage="60" keywordseo="Nuclear-weapons">nuclear weapons</keyword> to help turn the tide.</p><h2>A plan for a decisive battle</h2><div type="image" title="Viet Minh Vietnam artillery" height="1382" width="2000" msid="81572452" hostid="261"></div><p>A year before the battle, the Viet Minh, led by Ho Chi Minh, had seized virtually all of northern Vietnam, with the exception of the area around Hanoi.</p><p>The Viet Minh also controlled territory in Laos and Cambodia. Fearing a larger Viet Minh offensive into Laos, French generals planned to build a base along the border to cut off the Viet Minh and draw its fighters onto open ground, where they could be destroyed by artillery and airpower.</p><p>A flat valley nestled between mountains, Dien Bien Phu was selected for its open fields of fire. On November 20, 1953, French paratroopers and engineers parachuted into the valley and began constructing defensive positions.</p><p>The fortifications were made up of eight main strong points over a roughly 6-mile area from north to south. The over 10,000-man garrison was a made up of French soldiers, Foreign Legionnaires, and colonial troops from North Africa and Indochina.</p><p>But the French neglected to seize the surrounding high ground. The French artillery commander was confident in French counter-battery capabilities and believed the Viet Minh would be unable to muster heavy artillery in the area. He even <a href="https://www.amazon.com/Valley-Death-Tragedy-America-Vietnam/dp/1400066646" target="_top">boasted</a> that "I've got more guns than I need."</p><p>He was sorely mistaken. The Viet Minh had spent months moving artillery and ammunition into the mountains by foot. By March 1954, they were dug in, well camouflaged, and surrounding the French.</p><h2>Stemming the 'red tide'</h2><div type="image" title="France helicopter Dien Bien Phu Vietnam" height="1565" width="2000" msid="81572455" hostid="261"></div><p>In the first four days of battle, three of the nine French strong points were lost and over 1,000 French soldiers were killed or wounded, including the Foreign Legion commander and the artillery commander, who killed himself with a grenade out of shame over his miscalculations.</p><p>Soon, French reinforcements and supplies could only be parachuted in, but airdrops became riskier as the siege continued. Multiple planes were shot down, and many supplies fell into Viet Minh hands.</p><p>By May, the Viet Minh had taken the airstrip and reduced the French to just two strong points.</p><p>Dien Bien Phu became the center of the fight against communism. One press report <a href="https://www.pbs.org/kenburns/the-vietnam-war/" target="_top">described</a> it as "a human dam trying to stem the red tide that threatens to engulf Southeast Asia."</p><p>The French were desperate and appealed to the US for help.</p><p>The US had been involved in Indochina since the latter days of World War II and had supported the French war effort since 1950. The support was largely logistical; hundreds of planes, tanks, vehicles, and thousands of tons of munitions were given to the French, and American advisors oversaw many assistance efforts.</p><p>By 1954, close to 80% of France's war expenses were being paid by the US government, and US Air Force personnel <a href="https://media.defense.gov/2019/Feb/22/2002092352/-1/-1/1/USAF%20Vietnam%20Chronology%20v1.pdf" target="_top">were stationed</a> in Indochina to help maintain and arm aircraft on loan from the US.</p><div type="image" title="France French Dien Bien Phu Vietnam" height="1437" width="2000" msid="81572456" hostid="261"></div><p>At Dien Bien Phu, <a href="https://utd-ir.tdl.org/bitstream/handle/10735.1/911/catfrenchindochina.pdf?sequence=1&amp;isAllowed=yed=y" target="_top">American pilots</a> from Civil Air Transport, a CIA-owned airline, flew over 1,300 sorties in loaned C-119 transport aircraft with French Air Force insignia hastily painted over US markings.</p><p>Two pilots, James McGovern Jr. and Wallace Buford, were killed when their C-119 was shot down - the first Americans to die in combat in Vietnam.</p><p>French military officials and diplomats repeatedly requested direct action by the US.</p><p>One plan, discussed on March 20 and later named Operation Vulture, would have seen between 60 and 98 US Air Force B-29 bombers and over 100 Navy escort aircraft from US aircraft carriers bomb Viet Minh positions at Dien Bien Phu. One version of Operation Vulture even included dropping three atomic bombs.</p><p>The French formally requested a B-29 strike on April 4, but President Dwight Eisenhower, having just ended the Korean War and worried about China's response, was reluctant to get involved directly without support from allies, namely Britain, or Congress.</p><p>The French requested the transfer of up to 20 B-29s so they could carry out larger bombing missions themselves. This too was denied, but the <a href="https://thebulletin.org/2016/02/we-might-give-them-a-few-did-the-us-offer-to-drop-atom-bombs-at-dien-bien-phu/" target="_top">debate</a> among senior US officials about nuclear weapons at Dien Bien Phu was not over, and Air Force personnel were on notice for Operation Vulture, just in case.</p><h2>'We might give them a few'</h2><div type="image" title="France French helicopter Dien Bien Phu Vietnam" height="1317" width="2000" msid="81572457" hostid="261"></div><p>French Foreign Minister Georges Bidault claimed that during an April 22 meeting in Paris, Secretary of State John Foster Dulles took him aside and offered the French two atomic bombs for use at Dien Bien Phu.</p><p>Bidault said that he refused the offer on the grounds that by then the Viet Minh were too close to the garrison and the bombs would wipe out the French as well.</p><p>Dulles later categorically denied making such an offer, and no British or American witnesses confirmed Bidault's claims. But internally the White House did discuss both using nuclear weapons and giving them to the French.</p><p>On April 29, the National Security Council debated the issue for four hours, and concluded on April 30 that, "we might give them a few."</p><p>But Eisenhower was still reluctant to engage directly without allied or Congressional support, neither of which was forthcoming.</p><div type="image" title="Dien Bien Phu Vietnam" height="1317" width="2000" msid="81572459" hostid="261"></div><p>By May, it was too late. The Viet Minh launched their final assault on May 1 and defeated the remnants of the French garrison by May 7.</p><p>Over 2,000 French soldiers were killed, and over 10,000 were wounded or captured. The Viet Minh suffered over 23,000 casualties.</p><p>A day after the Viet Minh victory, negotiations involving the French and the Viet Minh, as well as the US, China, the Soviet Union, and the UK, began in Geneva.</p><p>Indochina was cut into four countries; Vietnam was divided into the communist-controlled North and the Republic of Vietnam in the South, while Laos and Cambodia became independent states.</p><p>The US stepped in directly to help defend South Vietnam from communism in 1965. Lessons from the French experience at Dien Bien Phu helped the US fend off similar attack on Khe Sanh in 1968, where some US military officials also <a href="https://warontherocks.com/2018/10/how-close-did-the-united-states-actually-get-to-using-nuclear-weapons-in-vietnam-in-1968/" target="_top">contemplated us</a><a href="https://warontherocks.com/2018/10/how-close-did-the-united-states-actually-get-to-using-nuclear-weapons-in-vietnam-in-1968/" target="_top">ing</a><a href="https://warontherocks.com/2018/10/how-close-did-the-united-states-actually-get-to-using-nuclear-weapons-in-vietnam-in-1968/" target="_top"> nuclear weapons</a>.</p>

How the US considered helping France nuke its way out of an embarrassing military defeat

(Eds: Updating with details) <p>New Delhi, Apr 10 () Over 20,400 foreign nationals have been evacuated from India amid the coronavirus crisis and any decision on bringing Indians from abroad will be taken at a later stage after reviewing the situation, the government said on Friday.</p><p>It also maintained that there is no community transmission in the country so far. A study by apex medical research body ICMR found that 40 people out of a total of 104 coronavirus patients with severe acute respiratory infection had contracted the infection without having any recent international travel history or contact with any confirmed cases of the disease.</p><p>Responding to a question over this study, Joint Secretary in the Ministry of Health Lav Agarwal told reporters, "No community transmission has happened in the country so far. If there would be, we would be first to tell you so as to alert people."</p><p>Amid concerns over the export of  hydroxychloroquine, the Ministry of External Affairs (MEA) said that India has received requests from several countries for the tablet and keeping a sufficient buffer of stocks, a decision has been taken to export some surplus medicines. The anti-malarial drug hydroxychloroquine has been cited by many as a viable therapeutic solution for fighting the coronavirus infection.</p><p>Addressing the daily press briefing on the COVID-19 situation in the country, MEA Additional Secretary Dammu Ravi said, "There were requests from governments of several countries. We have successfully evacuated 20,473 foreign nationals as of yesterday."</p><p>"This is an ongoing process. Some questions have come about Indians abroad. It is a situation where we cannot give a definite answer because the lockdown is still there. We need to assess the situation… It will be the government's decision on how we manage the return of Indians from other countries," he said.</p><p>"Our ambassadors and high commissioners in all these countries are in regular touch with all Indians abroad and giving all support to them. The MEA COVID control room helplines are active, teams are taking calls and guiding them in these matters. The situation is under control. We will review at a later stage about their return," Ravi said.</p><p>According to Agarwal, India has a stock of 3.28 crore tablets of hydroxychloroquine, which is three time more than the projected requirement of one crore tablets in the country for the coming one week and that tie-ups have been made for additional supply of two to three crore tablets for the future need. </p><p>"Domestic requirement and production of hydroxychloroquin has been 100 per cent ensured, not even for today but for coming times as well. Also, two crore tablets have been sent to states to ensure their availability in the private sector," Agarwal said assuring that there is no shortage of the medicine in the country. </p><p>Ravi, who is also also the COVID-19 coordinator, said that hydroxychloroquine is in high demand globally and the decision for exporting the drug to the first list of countries which had put in a request has been approved after proper review.</p><p>Certain medicines were in the restricted list and others in the prohibited list. Based on review by the Committee of Secretaries and by the Group of Ministers, restrictions were lifted on many medicines.</p><p>"Several countries have made requests for this particular drug. Taking into view the domestic stocks available and keeping sufficient buffer for our own requirement, a decision was taken by GoM to release some surplus medicines for export purposes. </p><p>"The first batch of list of countries have been approved and now we are working on the second and third list. I want to emphasise that the domestic requirement and necessity will be a priority for the government," Ravi said.</p><p>"We should follow social distancing and the do's and don'ts. A total of 16,002 tests were conducted yesterday and only 0.2 per cent of the cases have tested positive On the basis of the samples collected, the infection rate is not high," he said adding rapid diagnostics kits have also been sanctioned for conducting coronavirus tests.</p><p>An ICMR official said 146 laboratories are functional in the public sector while 67 private labs have been given approval for testing of COVID-19. </p><p>"A total 144910 samples have been tested till 9 PM on Thursday," he said.</p><p>Reacting to the attack on frontline healthcare workers, Agarwal said people should not misbehave or attack those who are rendering service even amid the risk of contracting the deadly infection stating that will "bring their morale down". He reminded how people had enthusiastically expressed their solidarity with the healthcare professions during the Janta curfew on March 22.</p><p>He further said 39 PPE manufacturers are available in the country today; adding PPEs have been procured and given to states, due to which they have double the stock available with them compared to what they had two months back.</p><p>Around 20.4 lakh N-95 masks have been supplied to the states and further procurement has already been initiated to address future requirements. Also, an order for 49000 ventilators has been placed and stock is being taken for future requirements, he said.</p><p>"We don't expect any shortage of N95 masks at the field level," he said.</p><p>The officials also maintained that rumours and media reports claiming protocol has been issued by Railways regarding passenger travel for post-lockdown are speculative and incorrect. </p><p>Agarwal further informed that Health Minister Harsh Vardhan  reviewed actions and preparedness for COVID-19 management through video conference with health ministers, chief secretaries/health secretaries of all states and union territories on Friday.</p>Vardhan suggested that there is a need to make dedicated COVID-19 hospitals in each district of the country and notify them as soon as possible so that people are informed about them.  PLB GJS  ZMN

Decision to bring Indians stranded abroad will be taken after reviewing COVID-19 situation: Govt

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Hollis Johnson/Business Insider</span></p><p class="caption">Tesla Model 3.</p></div><p></p></div></div></strong></p><ul class="summary-list"><li><strong><a href="https://www.businessinsider.com/category/tesla">Tesla</a> customers must order their vehicles by October 15 to guarantee access to the full $7,500 tax credit offered by the US government to electric vehicle buyers, according to <a href="https://3.tesla.com/model3/design#battery">Tesla's website</a>.</strong></li><li><strong>The website indicates that customers who place their orders by October 15 will guarantee delivery by December 31, after which the credit begins to expire.</strong></li><li><strong><a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> did not respond for a request for comment on how likely customers who place orders after October 15 are to receive delivery by the end of the year.</strong></li></ul><p> </p><p>Tesla customers must order their vehicles by October 15 to guarantee access to the full $7,500 tax credit offered by the US government to electric vehicle buyers, according to <a href="https://3.tesla.com/model3/design#battery">Tesla's website</a>. The website indicates that customers who place their orders by October 15 will guarantee delivery by December 31, after which the credit begins to expire.</p><p>Tesla did not respond for a request for comment on how likely customers who place orders after October 15 are to receive delivery by the end of the year.</p><p><span>The US government gives people who buy electric vehicles a </span><a href="https://www.businessinsider.com/tesla-tax-credit-expected-to-phase-out-in-2018-2018-2">tax credit</a><span> of $2,500 to $7,500, depending on the vehicle's size and battery capacity. As Tesla wrote in an </span><a href="http://ir.tesla.com/node/18501/html">annual report</a><span> filed with the US Securities and Exchange Committee in February, its customers get the full $7,500. But two calendar quarters after a company sells its 200,000th electric vehicle in the US, the tax credit begins to phase out. Tesla <a href="https://www.businessinsider.com/tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7">confirmed to Business Insider</a> in July that it had passed the 200,000-vehicle threshold.</span></p><p>Tesla customers who take delivery between January 1 and June 30, 2019, will receive a $3,750 tax credit and those who take delivery between July 1 and December 31, 2019, will receive $1,875. Customers who take delivery beginning in 2020 will not receive a federal tax credit.</p><div data-bi-ad="" id="ad-19711" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="cars,bitranspo,tesla,tesla-model-3" data-pos="atf" data-authors="mark-matousek" data-views="" data-region="Desktop In Post Ad" data-responsive="[{" browserLimit:00slotSize:300250fluidbrowserLimit:6000slotSize:300250fluidbrowserLimit:12600slotSize:72890fluidlocation:inline="" data-url="tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7" data-amazontamsizes="[[300,250],[728,90]]" data-google-query-id="CNj4mfuAgd4CFQTewAodvIENYg">That means those who are waiting for the <a href="https://www.businessinsider.com/why-the-35000-model-3-might-not-arrive-until-2019-2018-9">$35,000 base-priced version</a> of Tesla's <a href="https://www.businessinsider.com/category/tesla-model-3">Model 3</a> sedan will not be eligible for the full tax credit, since Tesla says <a href="https://3.tesla.com/model3/design#battery">on its website</a> that configurations of the Model 3 with a standard battery will become available beginning in three to six months. The least expensive Model 3 currently available starts at $49,000.</div><div data-bi-ad="" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="cars,bitranspo,tesla,tesla-model-3" data-pos="atf" data-authors="mark-matousek" data-views="" data-region="Desktop In Post Ad" data-responsive="[{" browserLimit:00slotSize:300250fluidbrowserLimit:6000slotSize:300250fluidbrowserLimit:12600slotSize:72890fluidlocation:inline="" data-url="tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7" data-amazontamsizes="[[300,250],[728,90]]" data-google-query-id="CNj4mfuAgd4CFQTewAodvIENYg"></div><div data-bi-ad="" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="cars,bitranspo,tesla,tesla-model-3" data-pos="atf" data-authors="mark-matousek" data-views="" data-region="Desktop In Post Ad" data-responsive="[{" browserLimit:00slotSize:300250fluidbrowserLimit:6000slotSize:300250fluidbrowserLimit:12600slotSize:72890fluidlocation:inline="" data-url="tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7" data-amazontamsizes="[[300,250],[728,90]]" data-google-query-id="CNj4mfuAgd4CFQTewAodvIENYg">The Model 3 was designed to broaden Tesla's customer base beyond the luxury segment and has generated significant demand since Tesla began taking reservations for it in March, 2016. The automaker initially struggled to hit its production targets for the vehicle due in part to excessive automation at its Fremont, California, factory. At the end of June, Tesla hit a long-delayed goal of making 5,000 Model 3 vehicles in one week and, at the beginning of this month, the automaker reported that it <a href="https://markets.businessinsider.com/news/stocks/tesla-model-3-deliveries-meet-guidance-miss-wall-street-expectations-2018-10-1027583292">exceeded Wall Street expectations</a> by delivering 55,840 Model 3 vehicles during the third quarter.</div><p class="tagline">Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> <strong>here.</strong></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/monster-jam-truck-driver-brianna-mahon-tom-meents-gravedigger-transportation-2018-10">INSIDE MONSTER JAM: What it takes to be a monster truck driver</a></h3>        <div>                    </div>    </div>

If you want to buy a Tesla, you have until October 15 to make sure you get the full $7,500 federal tax credit for EVs

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li><strong>The deadline to guarantee <a href="https://www.businessinsider.com/category/tesla">Tesla</a> delivery by the time an electric vehicle tax credit gets cut in half was in October.</strong></li><li><strong>But there may be waitlist spots to get a guarantee before the January deadline, CEO <a href="https://www.businessinsider.com/category/elon-musk">Elon Musk</a> tweeted on Tuesday.&#xa0;</strong></li><li><strong>After January 1, the government tax credit will shrink from $7,500 to $3,750.&#xa0;</strong></li></ul><p>A <a href="https://www.businessinsider.com/tesla-customers-have-until-october-15-to-get-full-7500-tax-credit-2018-10">lucrative tax credit</a> available to <a href="https://www.businessinsider.com/category/tesla">Tesla</a> buyers will drop by $3,750 on January 1, but there may be some hope for potential customers who missed the October 15 deadline.</p><p>CEO Elon Musk <a href="https://twitter.com/elonmusk/status/1072493437264515073">tweeted</a> Tuesday that potential buyers can join a cancellation waitlist to possibly take delivery of their vehicle ahead of the credit's reduction on January 1. If the car isn't delivered by then, they can request a full refund.</p><p>The US government gives people who buy electric vehicles a&#xa0;<a href="https://www.businessinsider.com/tesla-tax-credit-expected-to-phase-out-in-2018-2018-2"><span>tax credit</span></a>&#xa0;of $2,500 to $7,500, depending on the vehicle's size and battery capacity. As Tesla wrote in an&#xa0;<span>annual report</span>&#xa0;filed with the US Securities and Exchange Committee in February,<a href="https://www.businessinsider.com/tesla-customers-have-until-october-15-to-get-full-7500-tax-credit-2018-10"> its customers get the full $7,500. </a></p><p>But two calendar quarters after a company sells its 200,000th electric vehicle in the US, the tax credit begins to phase out. Tesla&#xa0;<a href="https://www.businessinsider.com/tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7"><span>confirmed to Business Insider</span></a>&#xa0;in July that it had passed the 200,000-vehicle threshold. It is the first company to have its credits phased out.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/elon-musk-slams-sec-says-no-one-reviews-tweets-2018-12" data-analytics-position="2">Elon Musk: 'I want to be clear - I do not respect the SEC'</a></em></p><p>Tesla customers who take delivery between January 1 and June 30, 2019, will receive a $3,750 tax credit and those who take delivery between July 1 and December 31, 2019, will receive $1,875. Customers who take delivery beginning in 2020 will not receive a federal tax credit.</p><p>That means those who are waiting for the&#xa0;<a href="https://www.businessinsider.com/why-the-35000-model-3-might-not-arrive-until-2019-2018-9"><span>$35,000 base-priced version</span></a>&#xa0;of Tesla's&#xa0;<a href="https://www.businessinsider.com/category/tesla-model-3"><span>Model 3</span></a>&#xa0;sedan will not be eligible for the full tax credit, since Tesla says&#xa0;<a href="https://3.tesla.com/model3/design#battery"><span>on its website</span></a>&#xa0;that configurations of the Model 3 with a standard battery will become available beginning in three to six months. The least expensive Model 3 currently available starts at $49,000.</p><section data-track-content="" data-post-type="post"><div><div data-piano-inline-content-wrapper=""><p><em>Do you work at Tesla? Have a tip? Contact this reporter via Signal or WhatsApp message at +1 (646) 376-6102 using a non-work phone, email at grapier@businessinsider.com, or Twitter DM at <a href="https://twitter.com/g_rapier">@g_rapier. </a>You can also<a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6"><span>&#xa0;</span>contact Business Insider securely via SecureDrop</a><a href="https://twitter.com/g_rapier">.</a></em></p></div></div></section><p class="tagline">Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> <strong>here.</strong></a></p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/paint-lights-up-glow-electric-lumillor-2018-10">This spray paint lights up at the flip of a switch, but it's not glow-in-the-dark</a></h3>        <div>                    </div>    </div>

Elon Musk says Tesla will refund customers who don't receive their cars by the time a lucrative tax break is slashed next month

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Hollis Johnson/Business Insider</span></p><p class="caption">Tesla's Model 3.</p></div><p></p></div></div></strong></p><ul class="summary-list"><li><strong>The <a href="https://www.businessinsider.com/category/tesla-model-3">Model 3</a> was presented as <a href="https://www.businessinsider.com/category/tesla">Tesla</a>'s first mass-market vehicle, but so far, Tesla has only made premium versions of the Model 3 with long-range batteries.</strong></li><li><strong><a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> CEO <a href="https://www.businessinsider.com/category/elon-musk">Elon Musk</a> gave a timeline in May that suggested deliveries of the $35,000 base-priced Model 3 could begin between the end of September and the end of December.</strong></li><li><strong>But it's more likely those deliveries will begin in 2019 as Tesla focuses on generating higher profits with more expensive models, according to Jeremy Acevedo, a manager of industry analysis for Edmunds.</strong></li><li><strong>Tesla declined a request for comment on this story.</strong></li></ul><p><br />The turbulent history of Tesla's Model 3 has been well-documented. <a href="https://www.businessinsider.com/tesla-model-3-performance-first-drive-2018-8">Praised</a> by <a href="https://www.motortrend.com/cars/tesla/model-3/2018/2018-tesla-model-3-dual-motor-performance-review/">reviewers, </a>but subject to production delays and reports of <a href="https://markets.businessinsider.com/news/stocks/tesla-model-3-wall-street-analysts-find-significant-fit-and-finish-issues-2018-8-1027480762">inconsistent quality</a>, the vehicle has put pressure on Tesla to prove it can transition from a luxury automaker to a mass-market one.</p><p>In June, the company <a href="https://www.businessinsider.com/tesla-hits-model-3-production-goal-2018-7">met a long-delayed goal</a> of making 5,000 Model 3s in one week, but in addition to sustaining that rate of production, it has a new hurdle to clear: delivering the $35,000 base-priced version of the Model 3 that prompted Tesla to make the car in the first place. So far, the company has only made premium versions of the Model 3 with long-range batteries. The least expensive Model 3 currently available starts at $49,000, according to Tesla's website.</p><p>In May, Tesla CEO Elon Musk suggested the company would start <a href="https://www.businessinsider.com/elon-musk-shares-35000-tesla-model-3-timeline-2018-5">delivering the $35,000 model</a> three to six months after reaching its 5,000-per-week production goal, which meant deliveries would start sometime between the end of September and the end of December. Musk pushed back that timeline in June, saying Tesla would start making $35,000 Model 3s near the end of 2018 and aim for mass production in 2019. Tesla is even more conservative <a href="https://3.tesla.com/model3/design#battery">on its website</a>, which says the base model will be available in four to seven months.</p><p>Tesla declined a request for comment on this story.</p><h2>The $35K Model 3 may not arrive until 2019</h2><p>According to Akshay Anand, an executive analyst for Kelley Blue Book, and Jeremy Acevedo, a manager of industry analysis for Edmunds, the timeline listed on Tesla's website is the most realistic. Both said it would be highly unlikely for deliveries to begin in September and more likely for them to begin in 2019.</p><p>That schedule is likely to concern some customers, as they will begin to lose access to a $7,500 tax credit for Tesla vehicles beginning in January, when the credit gets <a href="https://www.businessinsider.com/tesla-customers-will-start-losing-a-7500-tax-credit-in-2019-2018-7">cut in half</a>. While Tesla has had no problems generating demand for the Model 3 (the company said in a <a href="http://ir.tesla.com/news-releases/news-release-details/tesla-q2-2018-vehicle-production-and-deliveries">regulatory filing</a> that it had around 420,000 net reservations for Model 3 at the end of June, though it has since stopped taking reservations), the long wait for the base model will turn away some customers who would have otherwise bought it, Acevedo said.</p><p><span style="font-weight: 400;">"They can expect, I think, a substantial amount of people pulling their reservations," Acevedo said.</span></p><p><span style="font-weight: 400;">According to Acevedo, the primary reason for the delay is Tesla's quest to become profitable. The company said in its <a href="http://ir.tesla.com/static-files/7235e525-db16-470c-8dce-9ecac0ad7712">second-quarter earnings letter</a> this year that it expects to post consistent profits starting in the third quarter, and the high-end Model 3s generate better margins than the base model would. In August, analysts from the investment bank UBS <a href="https://markets.businessinsider.com/news/stocks/tesla-model-3-has-next-gen-military-grade-tech-ubs-says-but-will-never-turn-profit-2018-8-1027468439?utm_source=markets&amp;utm_medium=ingest">tore apart a Model 3</a>, analyzed its construction, and projected a $35,000 Model 3 would generate a loss of $5,900 per vehicle.</span></p><h2><span style="font-weight: 400;">Quality is more important than speed</span></h2><p><span style="font-weight: 400;">In the near term, Tesla is going to focus on the more profitable models, Acevedo said. Musk indicated the same in May, when he said Tesla would <a href="https://www.businessinsider.com/elon-musk-shares-35000-tesla-model-3-timeline-2018-5">"lose money and die"</a> if it started delivering the base model. That may frustrate some of those who were among the first to reserve a Model 3 in March 2016, but, according to Anand, it's important that Tesla prioritizes quality over delivery speed for all versions of the Model 3.</span><span style="font-weight: 400;"></span></p><p><span style="font-weight: 400;">Some customers have <a href="https://www.businessinsider.com/some-tesla-customers-experience-service-problems-2018-8">reported significant problems</a> with their Model 3s and other Tesla vehicle shortly after receiving them, and Business Insider <a href="https://www.businessinsider.com/tesla-hit-model-3-target-by-reworking-thousands-of-cars-2018-8">reported in August</a> that a much higher percentage of Model 3s produced at the end of June required rework than a car at the average auto plant. </span></p><p><span style="font-weight: 400;">The $35,000 Model 3 will reach new customers for Tesla, some of whom won't own multiple vehicles. If their Model 3 breaks down, so will their commute. While Tesla gets more leeway from customers over quality issues than other brands, Anand said, some of its new customers might not be as patient.</span></p><p><span style="font-weight: 400;">"I think quality has to be their top priority," he said.</span></p><p><em>Have a Tesla news tip? Contact this reporter at <a href="mailto:mmatousek@businessinsider.com" target="_blank" rel="noopener">mmatousek@businessinsider.com</a>.</em></p><p class="tagline">Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> <strong>here.</strong></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-galaxy-note-9-review-worth-it-2018-8">The Samsung Galaxy Note 9 is a $1,000 phone that's actually worth it</a></h3>        <div>                    </div>    </div>

Elon Musk said Tesla's $35,000 Model 3 would arrive by the end of 2018 - here's why experts say that probably won't happen

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Hollis Johnson/Business Insider</span></p><p class="caption">The parent company of MoviePass appears to be having a tough time convincing shareholders to back its plan to reverse split its stock for a second time in four months.</p></div><p></p></div></div></p><ul class="summary-list"><li>Helios and Matheson, the parent company of MoviePass has hired a second firm to help it solicit and collect votes on a plan to reverse split its stock.</li><li>The company, which has been losing hundreds of millions of dollars, now expects to spend $109,000 on proxy solicitors, which is more than 10 times what it planned to spend initially.</li><li>The announcement is the latest sign that it's struggling to convince shareholders to back the proposal.</li></ul><p>The parent company of MoviePass gave another indication Thursday that it's struggling to convince shareholders to back its plan to reverse-split its stock for the second time in four months.</p><p>Helios and Matheson, which bought a controlling stake in the subscription movie ticket service last year, has hired a second firm to help it collect investor votes, it announced <a href="https://www.sec.gov/Archives/edgar/data/1040792/000121390018014105/defa14a101818_heliosandmath.htm">in a filing with the Securities and Exchange Commission</a>. The company hired Alliance Advisors and will pay the firm $60,000 plus expenses.</p><p>Helios and Matheson, which burned through $210 million in cash in just the first six months of this year, is now spending around $109,000 on two different firms to solicit shareholder votes. That's an unusually large amount of money. When the company prepared for a shareholder vote in July on its first reverse split, it only hired one proxy solicitation firm and <a href="https://www.sec.gov/Archives/edgar/data/1040792/000121390018008752/def14a0718_heliosandmathe.htm">expected to pay just $9,000 plus expenses</a>. Apple, meanwhile, <a href="https://www.sec.gov/Archives/edgar/data/320193/000119312517003753/d257185ddef14a.htm">expected to spend only $15,000</a> on soliciting votes for its shareholder meeting earlier this year.</p><p>The movie ticket subscription company <a href="https://www.sec.gov/Archives/edgar/data/1040792/000121390018013057/def14a0918_heliosandmath.htm">originally planned to spend just $9,000 soliciting votes for this vote too</a>. But it announced earlier this week that the amount it would spend with its first proxy solicitor <a href="https://www.sec.gov/Archives/edgar/data/1040792/000121390018013925/defa14a1018_heliosandmath.htm">had risen to $49,000</a>.</p><p>Company representatives did not immediately respond to an emailed request for comment.</p><h2>Helios and Matheson has massively diluted shareholders</h2><p>MoviePass' parent, which is in danger of having its stock delisted from the Nasdaq national market because it's been consistently trading at less than $1 a share, <a href="https://www.businessinsider.com/moviepass-seeks-approval-for-up-to-1-for-500-reverse-stock-split-2018-9">is asking investors to approve the reverse-split scheme to boost its share price</a>. The company plans to trade investors one new share of its stock for anywhere from two to 500 current shares, with the expectation that its stock price will go up in reverse proportion to the reverse-split ratio.</p><p>But because the move will only affect the number of shares it has outstanding and not the total number it can issue, the split would have the effect of giving Helios and Matheson room to issue billions of new shares. The company's track record indicates it would be sure to take advantage of that.</p><p>Just in the last year, its share count has gone up nearly 3,900,000%, adjusting for its first reverse split. Indeed, after its first reverse split in July gave it more room to issue shares, it <a href="https://www.businessinsider.com/helios-and-matheson-moviepass-dilution-reverse-split-2018-9">massively flooded the market with them</a>, sending its stock spiraling downward. It now trades at 1.7 cents.</p><p>In interviews with Business Insider and postings on Twitter and message boards, <a href="https://www.businessinsider.com/moviepass-investigation-investors-applaud-new-york-attorney-general-2018-10">company shareholders have expressed anger</a> at the company and opposition to the reverse-stock plan. Earlier this week, the company announced it would <a href="https://www.businessinsider.com/moviepass-parent-company-delays-crucial-shareholders-meeting-2018-10">delay the vote</a>, which was set for Thursday, by two weeks, <a href="https://www.businessinsider.com/investors-right-to-oppose-helios-and-mathesons-reverse-split-2018-10">another indication that it was struggling to get support for the plan</a>.</p><h2>Now read:</h2><ul><li><a href="https://www.businessinsider.com/investors-right-to-oppose-helios-and-mathesons-reverse-split-2018-10">Investors seem to be balking at MoviePass' parents' plans to reverse split its stock again - and for good reason</a></li><li><a href="https://www.businessinsider.com/helios-and-matheson-reduced-the-shares-it-has-to-reserve-for-debt-2018-10">MoviePass' parent company just freed up some room to sell more stock - after already increasing its share count by 80,000% since July</a></li><li><a href="https://www.businessinsider.com/moviepass-helios-matheson-funding-2018-10">MoviePass' parent company says the $65 million in new funding it just raised isn't exactly 'new'</a></li><li><a href="https://www.businessinsider.com/helios-and-matheson-moviepass-dilution-reverse-split-2018-9">MoviePass' parent company has boosted its share count by an unbelievable 80,000% since July - but it's run out of room to issue new stock</a></li></ul><p class="tagline">Visit  <a href="http://markets.businessinsider.com/">Markets Insider</a> for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/lg-v40-thinq-5-camera-smartphone-2018-10">This smartphone has 5 cameras - here's what it's like</a></h3>        <div>                    </div>    </div>

The parent company of MoviePass just gave another indication that shareholders are balking at its plan to reverse split its stock

<keyword id="6354671" type="COMPANY" weightage="100" keywordseo="Foxconn">Foxconn</keyword> is planning to take over troubled Japanese behemoth <keyword id="79287" type="COMPANY" weightage="100" keywordseo="sharp">Sharp</keyword>'s display business and requested <keyword id="6354427" type="CITY" weightage="100" keywordseo="Apple">Apple</keyword> to be part of the deal.<br />
 <br /> According to the new proposal, <keyword id="46274" type="COUNTRY" weightage="100" keywordseo="Taiwan">Taiwan</keyword> electronics giant, <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn+">Foxconn</a> - an Apple supplier - would take a majority stake in Sharp's <a href="http://www.businessinsider.in/searchresult.cms?query=liquid+crystal+display+">liquid crystal display</a> company. It has urged Apple to make an investment as part of the proposed deal, reported AFP. <br />
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However, there is no information about the proposal and the extent of Apple's possible involvement.<br />
 <br />
But it is being reported that Sharp's major lenders had estimated the firm's LCD operations to be worth around $2.5 billion.<br />
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The fall in price of small to medium size displays for <a href="http://www.businessinsider.in/searchresult.cms?query=smartphones+">smartphones</a> could depress the price tag if negotiations drag on for a long time.<br />
 <br /> Foxconn - which is the trading name for <keyword id="167673" type="COMPANY" weightage="80" keywordseo="Hon-Hai-Precision">Hon Hai Precision</keyword> Industry - has also expressed its desire to purchase Sharp's 38% stake in a major display factory that the two firms jointly operate in Sakai city in western <keyword id="6355311" type="COUNTRY" weightage="40" keywordseo="Japan">Japan</keyword>.<br />
 <br />
The proposals would give Sharp "an opportunity to offload operations carrying a heavy downside risk", while letting it stay involved in the business and avoid massive layoffs.<br />
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Embattled Sharp -- also an <a href="http://www.businessinsider.in/searchresult.cms?query=Apple+iPhones+">Apple</a> supplier and a leader in screens for smartphones and tablets -- has failed to move past years of gaping deficits, partly caused by steep losses in its television unit, which has been hammered by competition from lower-cost rivals, particularly in <keyword id="5565" type="COUNTRY" weightage="60" keywordseo="South-Korea">South Korea</keyword> and Taiwan.<br />
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The Aquos brandmaker has been selling assets and going through painful restructuring to wipe away huge losses.<br />
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Earlier this year, Sharp said it was cutting 10% of its 49,000 positions worldwide as part of a turnaround plan.<br />
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The reported proposal came amid speculation that Sharp is in tie-up talks with the public-private Innovation Network Corporation of Japan, which is the top shareholder of rival Japan Display.<br />
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Some Sharp insiders favour the Japanese fund in order to keep the <a href="http://www.businessinsider.in/searchresult.cms?query=electronics">electronics</a> maker's technology away from non-Japanese businesses.<br />
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(Image: Indiatimes) <br />

Foxconn tells Apple:Lets buy Sharp's LCD company together

<br />
The new India is traveling like never before. Thanks to the travel spirit, knowledge, awareness and disposable income in hand, the new generation of travelers are a tad bit different from the earlier breed. If you follow the travel trait, earlier the international travel or domestic travel was limited to a few popular destinations.<br />
<br /> But suddenly the travelers aren’t really looking for a 3 nights 4 day’s stay at 6 different places of <keyword id="28504" type="CITY" weightage="20" keywordseo="Kerala">Kerala</keyword> and then hopping into the next flight back home. Today’s travellers are far more open to experiment and explore. They don’t bother if they miss out on a few places on the itinerary than to experience something more specific to a particular location.<br />
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Making such things easier for travellers in India and abroad is a Bangalore based start up, <a href="https://www.byond.travel">Byond.travel</a>. Established by a group of travel professionals, <keyword id="1497582" type="UNKNOWN" weightage="20" keywordseo="Byond">Byond</keyword>.travel offers hand-crafted trips, carefully picked keeping the wider preferences and sensibilities of the travelers in mind.<br />
<br /> Byond.travel organizes individual experiential and leads small-group journeys for like-minded travellers. The groups range from women-only travellers to yoga, bikers to wine lovers, mom &amp; kids, kayaking in <keyword id="163812" type="UNKNOWN" weightage="20" keywordseo="Antartica">Antartica</keyword>, African Safari Expereinces . On request, they will even help you create a customized journey for your own private group!<br />
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So be it culture, history, people to people connect, food, shopping, off-beat activities, or just adventure tours, spirituality or wellness, the travellers coming to India needs to express their desire and the team at Byond.travel will customize the travel plan.<br />
<br /> The man behind strategy and development at Byond.travel, <keyword id="3694039" type="PERSON" weightage="20" keywordseo="amit-kishore">Amit Kishore</keyword>, who is also the co-founder of <keyword id="3723698" type="UNKNOWN" weightage="20" keywordseo="eastbound-group">Eastbound Group</keyword>, one of India’s leading travel group. He is playing a role of investor, co founder and mentor at Byond.travel, <keyword id="4778" type="PERSON" weightage="20" keywordseo="Amit">Amit</keyword> shares his insight with us.<br />
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“Discover yourself… through us. Whether its photographic expeditions, cullinary expereince , nature trail -cycling or just walking trips that makes you have a wow expereince – we design experiences that will put a new dimension to the word ‘discovery’. Tell us what you love or dream and we can customize a trip according to it, to help you discover and hone your inner traveller,” said Amit.<br />
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For example, if you are interested in design and photography, Art Deco to Victorian, Mughal to miniature; India’s rich heritage, vivid design, and architecture will be of your interest. Byond will make a plan where you will just be focusing on exclusively these and yet build a trip around it to make it more fulfilling.<br />
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Also the upcoming festivals in India are a big draw to tourists. While these were happening in an unorganized mode, Byond.travel has brought a customization in the festival travel circuit where the destinations and the festivals can be synchronized well. While these have been a plan for many experienced groups, this start up has made it possible.<br />
<br /> And if you are far more adventurous, you can self drive to <keyword id="55091" type="COUNTRY" weightage="20" keywordseo="Iceland">Iceland</keyword> and <keyword id="6358619" type="COUNTRY" weightage="20" keywordseo="jordan">Jordan</keyword> or plan a trip to Alaska. Well, you just dream of it and Amit and his team would help you realize.<br />
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<strong>Here is the list of upcoming tours from Byond.Travel:</strong><br />
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<strong><keyword id="624" type="ORGANIZATION" weightage="20" keywordseo="Women">Women</keyword> only <keyword id="21474" type="COUNTRY" weightage="20" keywordseo="Italy">Italy</keyword>: </strong>02 - 08 Dec : Rs 120,000<br />
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<strong><keyword id="236732" type="PERSON" weightage="20" keywordseo="Kingdom">Kingdom</keyword> of the Thunder Dragon</strong> - Bhutan Photography Expedition: 20 OCT - 25 OCT - Rs 62,000 ( co-branded and marketed by <keyword id="11151" type="COMPANY" weightage="20" keywordseo="Olympus">Olympus</keyword> and led by award-winning photographer <keyword id="3723699" type="UNKNOWN" weightage="20" keywordseo="abhishek-hajela">Abhishek Hajela</keyword>)<br />
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<strong>The <keyword id="76379" type="UNKNOWN" weightage="100" keywordseo="Dead-Sea">Dead Sea</keyword> Drive : </strong>Jordan ( self drive): Rs 10,2000<br />
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<strong><keyword id="6357856" type="COUNTRY" weightage="20" keywordseo="greece">Greece</keyword>: Gods, Myths and Mortals</strong> : 5 - 12 NOV: Rs 95,900<br />
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<strong>Bhutan for the <keyword id="3723696" type="ORGANIZATION" weightage="20" keywordseo="golden-club">Golden Club</keyword> (for Sr. Citizens) </strong>: 20 OCT - 25 OCT - Rs 59,000<br />
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<strong>Pho’ever <keyword id="13486" type="COUNTRY" weightage="20" keywordseo="Vietnam">Vietnam</keyword> </strong>: Women only : 3 -9 DEC - Rs 55,900<br />
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<strong>Yomaste <keyword id="3723700" type="UNKNOWN" weightage="20" keywordseo="sikkim-darjeeling">Sikkim &amp; Darjeeling</keyword></strong> - A yoga retreat- 20 - 26 NOV : Rs 49000<br />
<br />
(Image: Pixabay)<br />

You Searched For "49000 request" and got 9 results

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Decision to bring Indians stranded abroad will be taken after reviewing COVID-19 situation: Govt

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If you want to buy a Tesla, you have until October 15 to make sure you get the full $7,500 federal tax credit for EVs

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Elon Musk says Tesla will refund customers who don't receive their cars by the time a lucrative tax break is slashed next month

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The parent company of MoviePass just gave another indication that shareholders are balking at its plan to reverse split its stock

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Foxconn tells Apple:Lets buy Sharp's LCD company together

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A self drive trip to the Dead Sea or a yoga trip to the Himalayas: this Bengaluru start up is offering such experiential trips

Suchayan Mandal