<img class="gwt-Image" src="/photo/40248078.cms" /> State-run fuel companies have announced to reduce <keyword id="44886" type="UNKNOWN" weightage="100" keywordseo="Petrol-price">petrol price</keyword> from Independence Day. This comes within hours of <keyword id="60115" type="POSITION" weightage="100" keywordseo="Oil-minister">Oil Minister</keyword> Dharmendra Pradhan's tweet. 
 
"Price of petrol will be reduced from midnight of 14/15 August 2014 in the range of Rs 1.89-2.38 (Rs 2.18/litre in Delhi)," Pradhan tweeted around 4pm yesterday. Two-and-a-half-hours later, Indian Oil Corporation announced the reduction. 
 
After the decontrolling of petrol prices in June 2010, state-run fuel retailers have been revising prices on the first and 16th day of every month in accordance with the average international rates of crude and dollar exchange rate. The average is calculated on the basis of rates in the preceding 15 days. 
 
As per this system, the companies were supposed to announce the reduction on August 15 and it would have taken effect August 16. Now, it will come into effect from August 15. 
 
"The minister's tweet pre-empted the oil companies from holding the current price line and book profit for a day at the cost of consumers," a senior oil ministry official said.

Petrol Cheaper By More Than Rs 2/Litre From Independence Day

Tune into any bit of news these days, and you’re bound to come across the <keyword id="19978984" type="General" weightage="20" keywordseo="neet" source="keywords">NEET</keyword> controversy. With allegations of <keyword id="20118897" type="General" weightage="20" keywordseo="bribery" source="keywords">bribery</keyword>, paper leaks and a dozen other crimes making for some murky water ahead for India’s future medical aspirations, there is no wonder the <keyword id="20039944" type="General" weightage="20" keywordseo="scam" source="keywords">scam</keyword> has been plastered all over the news cycle over the past week. NEET, which stands for National Eligibility cum Entrance Test, is a mandatory test a student must attempt if they wish to pursue <keyword id="21099893" type="General" weightage="20" keywordseo="medical-courses" source="keywords">medical courses</keyword> in India and abroad. This extremely competitive exam is conducted once a year by the National Testing Agency (<keyword id="19985628" type="General" weightage="20" keywordseo="NTA" source="keywords">NTA</keyword>) in different locations all over the country, where students can score between -180 and 720 marks. Nearly 24 lakh aspirants participated from 4,750 centres this year. Here’s a list of all major events so far. <cmsannotation type="cmsannotation" annotationid="NEET result declared" comment="subhead" text="NEET result declared">NEET result declared</cmsannotation> Less than a month after the exam was conducted on May 5, 2024, the NTA declared the NEET-UG 2024 exam results on its official website. Right from the get-go, things appeared suspicious, considering how the results were announced ten days earlier than their normal date. Many also pointed out how the NTA’s results coincided with the outcome of the 2024 Indian general election, calling it a ploy to distract from the <keyword id="21286400" type="General" weightage="20" keywordseo="malpractice" source="keywords">malpractice</keyword> at play. Further, many centres had faced several exam disruptions, which could have placed certain students at a disadvantage. As a result, the NTA announced that an appropriate “normalisation” formula would be applied to compensate for these interruptions. <cmsannotation type="cmsannotation" annotationid="Parents question how 67 candidates achieved full marks" comment="subhead" text="Parents question how 67 candidates achieved full marks">Parents question how 67 candidates achieved full marks</cmsannotation> As per test results, 67 candidates had topped the NEET with a perfect 720 score — something that was unprecedented in NEET-UG history. For context, only two students acquired the All India Rank 1 in 2023, with the highest being 3 toppers in 2021. Further probing revealed that six of these 2024 first-rankers were from a single centre in Haryana, making for some highly unlikely coincidences. In addition, some students had scored 718 and 719 marks, which was pointed out to be mathematically impossible as per NEET’s grading systems. These outcomes, combined with allegations of leaked <keyword id="20263157" type="General" weightage="20" keywordseo="question-papers" source="keywords">question papers</keyword>, led to public outcry and protests that demanded that the Education Ministry re-conduct the examination. <cmsannotation type="cmsannotation" annotationid="NTA provides explanations" comment="subhead" text="NTA provides explanations">NTA provides explanations</cmsannotation> Later on, the NTA clarified that the process of normalisation, alongside easier physics and chemistry sections, might have led to some students acquiring these “impossible” mark sheets. However, many were not satisfied with these explanations and questioned how some students had a much higher rank than their peers with the exact same marks. Further, the NTA admitted there was an “incorrect distribution of papers” at the Haryana centre with six toppers. This led to lost time and thus the normalisation of marks was applied here too. Unsatisfied, many experts demanded a probe into the mechanism behind the grace marks. <cmsannotation type="cmsannotation" annotationid="Problems with the paper" comment="subhead" text="Problems with the paper">Problems with the paper</cmsannotation> As per The News Minute, 13,000 students flagged a particular question on the paper since it had two correct answers mentioned. Considering that NEET deducts marks for incorrect answers, many resorted to avoiding that question, losing out on crucial marks in the process. Many candidates have demanded that the NTA omit the question in the process of evaluation. In addition, many of the toppers attempted this erroneous question, which many found fishy. <cmsannotation type="cmsannotation" annotationid="Courts demand answers from NTA" comment="subhead" text="Courts demand answers from NTA">Courts demand answers from NTA</cmsannotation> The NTA was subsequently taken to the Calcutta and Delhi High Courts, where questions were raised on the vast number of toppers this year, in addition to the legitimacy of the grace marks awarded. While the NTA refused to conduct a re-exam for all 25 lakh students who wrote the NEET, committees were formed to investigate the grace marks given to 1,563 candidates, and why certain centres had unusual time lapses during the examination process. <cmsannotation type="cmsannotation" annotationid="Supreme Court intervenes, orders re-exam for 1563 students awarded grace marks" comment="subhead" text="Supreme Court intervenes, orders re-exam for 1563 students awarded grace marks">Supreme Court intervenes, orders re-exam for 1563 students awarded grace marks</cmsannotation> Calling the grace marks “arbitrary”, a petition was officially filed in the Supreme Court to challenge the NTA’s decision on the compensatory marks. Amidst falling trust in the examination system, the Supreme Court ordered a re-test for the 1,563 students who were given these grace marks at the initial NEET exam. This was to take place on June 23, with the declaration of results within a week. <cmsannotation type="cmsannotation" annotationid="NTA withdraws grace marks" comment="subhead" text="NTA withdraws grace marks">NTA withdraws grace marks</cmsannotation> The NEET tells the Supreme Court that it has cancelled all grace marks awarded to 1,563 candidates, leading the number of top rankers to drop to 61. The outcome of the retest will determine whether these students will retain their top rank. <cmsannotation type="cmsannotation" annotationid="No corruption at play, says Education Minister" comment="subhead" text="No corruption at play, says Education Minister">No corruption at play, says Education Minister</cmsannotation> Despite many claims of malpractice, Education Minister Dharmendra Pradhan denies any allegations of corruption. A few days later, however, Pradhan acknowledged there were irregularities at two exam centres. <cmsannotation type="cmsannotation" annotationid="Anonymous tip leads Bihar police to uncover nationwide fraud" comment="subhead" text="Anonymous tip leads Bihar police to uncover nationwide fraud">Anonymous tip leads Bihar police to uncover nationwide fraud</cmsannotation> Hours before the initial NEET-UG exam in May, Patna police received an anonymous tip-off leading them to find four suspected criminals. These individuals led the police to a meeting place where around 30 candidates had allegedly gathered to memorise leaked questions and answers. A top source from Bihar’s Economic Offenses Unit (EOU) — to whom the investigation was later handed over to — explained that such a practice might be happening nationwide. These papers were found burnt at an individual’s flat, who later confessed to the crime. "Photocopies of the question papers were given to the candidates and they were told to memorise the answers. The duplicate question papers were collected later in the morning and burnt," explained a source to The Times of India. <cmsannotation type="cmsannotation" annotationid="‘Solver’ gang in Bihar" comment="subhead" text="‘Solver’ gang in Bihar">‘Solver’ gang in Bihar</cmsannotation> The EOU later found evidence that there might be several gangs involved in the <keyword id="20116086" type="General" weightage="20" keywordseo="paper-leak" source="keywords">paper leak</keyword>. They speculate that ‘solver’ gangs from Nalanda might have acquired the question paper from Jharkhand, solved it with experts, and then passed it on to the prime accused from Khagaria. In a confession statement, the prime accused admitted that they demanded between Rs 30-32 lakhs from each student, with the intermediate charging around Rs 40 lakh from each aspirant. The EOU makes many dozens more arrests. There are also speculations that these gangs provided proxy candidates to take the tests for the students. <cmsannotation type="cmsannotation" annotationid="Jharkhand private school leaked the paper" comment="subhead" text="Jharkhand private school leaked the paper">Jharkhand private school leaked the paper</cmsannotation> The Patna police then arrested five Nalanda residents, including key architect Baldev Kumar, who is also associated with the notorious Sanjeev Kumar, alias Lutan Mukhiya gang. These suspects, accused of multiple interstate paper leaks, allegedly received the NEET-UG solved answer sheets in PDF format a day before the exam. The Mukhiya gang procured the papers from a private school in Hazaribagh, Jharkhand, as per the police report. "The gang had been plotting this for several months and it was a professor from Hazaribagh who had sent the question papers to Sanjeev using WhatsApp. Later, with the help of medical students from Patna and Ranchi, the paper was solved," explained a top official to ToI. Photocopied versions of the paper were given to around 30 candidates staying at a “safe house” in Patna. The other members of the Mukhiya gang have since confessed to providing duplicate SIM cards, mobile phones and accommodation for the gang members involved in the leak. <cmsannotation type="cmsannotation" annotationid="Political connections" comment="subhead" text="Political connections"><keyword id="22176947" type="General" weightage="20" keywordseo="political-connections" source="keywords">Political connections</keyword></cmsannotation> Rashtriya Janata Dal leader Tejashwi Yadav, and also the leader of the opposition in Bihar, has now claimed that Mukhiya’s political links are preventing the arrest of Sanjeev Kumar. "The investigative agencies are not arresting Mukhiya because of his political connections. I will expose his pictures with politicians in the time to come," he told reporters. The RJD has also released a photo of Bihar’s Deputy Chief Minister Samrat Choudhary with Amit Anand. In response, another Bihar Deputy Chief Minister Vijay Kumar Sinha noted that Tejashwi had prior knowledge of the accused. <cmsannotation type="cmsannotation" annotationid="Blue Dart and SBI involved" comment="subhead" text="Blue Dart and SBI involved">Blue Dart and SBI involved</cmsannotation> As per The Print, the leaks might have been due to oversight from courier company Blue Dart and the State Bank of India. A preliminary probe suggested that both organisations failed to comply with norms during the transport of the question papers. <cmsannotation type="cmsannotation" annotationid="Godhra centre teachers asked to fill in answer sheets" comment="subhead" text="Godhra centre teachers asked to fill in answer sheets">Godhra centre teachers asked to fill in answer sheets</cmsannotation> According to a report by The Print, dozens of students allegedly paid between 10 lakh and two crores to a coaching institute in Godhra, Gujarat, to receive help from their teachers during the exam. As per the report, the coaching institute, which was in cohorts with the exam centre, would fill in the OMR sheets for the students after the test ended. <cmsannotation type="cmsannotation" annotationid="Maharashtra teachers detained, possible Delhi connection" comment="subhead" text="Maharashtra teachers detained, possible Delhi connection">Maharashtra teachers detained, possible Delhi connection</cmsannotation> Suspecting involvement in the NEET paper leaks, the Nanded Anti-Terrorist Squad (ATS) detained two teachers, Sanjay Tukaram Jadhav and Jalil Umar Khan Pathan, as per a Moneycontrol report. In addition to teaching, both individuals run private coaching institutes in Latur. As per reports, the FIR also mentions Delhi-based Gangadhar and Iranna Kongalwar. These new suspects may have helped Jadhav and Pathan contact aspirants ready to pay for the leaked paper. <cmsannotation type="cmsannotation" annotationid="Only 52% appear for NEET re-exam, toppers unlikely to repeat performance" comment="subhead" text="Only 52% appear for NEET re-exam, toppers unlikely to repeat performance">Only 52% appear for NEET re-exam, toppers unlikely to repeat performance</cmsannotation> After all this controversy, the NEET 2024 re-test was finally conducted for 1563 candidates across four states on June 23. However, only half of these students managed to appear for the exam. The six students who topped with full marks from the aforementioned Haryana centre noted that it is unlikely that they will repeat their perfect performance, considering how the retest was more challenging than the previous iteration. <cmsannotation type="cmsannotation" annotationid="Government passes law to curb exam malpractices" comment="subhead" text="Government passes law to curb exam malpractices">Government passes law to curb exam malpractices</cmsannotation> The government introduced the Public Examinations (Prevention of Unfair Means) Act 2024 in February. It aims to curb malpractices and irregularities in competitive examinations. Under the new law, offenders can see a maximum jail term of 10 years and a fine of up to RS 1 crore. <cmsannotation type="cmsannotation" annotationid="NTA Chief removed from office" comment="subhead" text="NTA Chief removed from office">NTA Chief removed from office</cmsannotation> Following the uproar, the Chief of the NTA, Subodh Kumar Singh, was removed from his post and placed on “compulsory wait” in the Department of Personnel and Training (DoPT). Further, a high-level committee of experts under former ISRO and IIT Kanpur chairman Dr K Radhakrishan has been appointed to ensure smooth, transparent and fair examinations.

Paper leak, massive bribes, political connections: Here's all you need to know about the NEET exam controversy

<ul><li>India’s <keyword id="10622896" type="UNKNOWN" weightage="20" keywordseo="fifth-largest-paint-maker">fifth largest paint maker</keyword>, backed by US-based venture capital firm Sequoia, will start its initial public offering (IPO) today, January 20.</li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares, and in multiples of 10 thereafter. </li><li>The shares commanded a premium of ₹800-810 in the grey market, over above the set IPO price band. </li></ul>The ₹1,000 crore IPO of Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> will be open for public subscription from today (January 20). The issue from India’s fifth largest paint maker has garnered a strong response in the grey market ahead of its IPO — the shares were commanding a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Analysts reports that have given a ‘subscribe’ rating for the IPO indicate that the demand, so far, is well justified because the Pune-based paint maker has given tight competition to much larger peers like Asian Paints and Berger Paints in recent years. Indigo Paints is a relatively small player with a 2% market share but its profit has grown significantly, nearly four times in the last three years. Streets View: <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> All you need to know about Indigo Paints IPO: <ul><li>The issue will remain open for subscription until January 22, making it the second IPO of 2021, after <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC</a>. </li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares and in multiples of 10, thereafter. </li><li>The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. </li></ul>Attractive valuation, healthy financials, robust growth and much more — here’s what analysts have to say about the IPO Discounted valuation Analysts believe that the IPO is attractively priced and can offer a good investment opportunity for the investors. The team at the brokerage firm, Anand Rathi, has highlighted that the company is reasonably valued at current valuation compared to the larger peers. At the upper end of the IPO price band, Indigo Paints is offered at 98.5 times its earnings, as compared to its other listed peers like Asian Paints, Berger Paints and Kansai Nerolac. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P/E ratio </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">113.78x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">128.23x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84.09x </td></tr></tbody></table>*Source: Anand Rathi report The price to earnings ratio is the financial ratio that helps determine a stock's market value compared to the company’s earnings. The P/E ratio shows what the market is willing to pay for a stock based on its earnings. “We believe that due to the lower valuations as compared to its peers, Indigo Paints is placed at an attractive valuation. Further with the planned expansion, lowering debt and other cost control measures, we are also confident that the company will maintain the growth levels which is mirroring the pricing of the IPO,” said the report. Healthy financial position Indigo Paints’ revenue and profitability have consistently improved over the last few years. HDFC Securities, in its IPO report, noted that the company has ‘smartly executed its revenue ramp-up’ and that reflects in the company’s improving fundamentals. <div type="image" title="Indigo Paints (1)" msid="80358585" hostid="261"></div> The company’s revenue from operations has grown at a compound annual growth rate (CAGR) of 41.9% between financial years 2010 and 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. The sector is poised to grow, and its listed peers are proof of that Indigo Paints is from the sector that is poised to grow over the coming years, despite all the challenges that may take over the world. According to the ICICI Securities report, the Indian paint industry is valued at ₹54500 crore, and it is expected to grow at 12% CAGR in the next five years. <div type="image" title="Paint market share (1)" msid="80358597" hostid="261"></div> The decorative paint segment, which constitutes 74% of total paint sales, is likely to grow at CAGR 13% backed by shortening repainting cycle, rising urbanisation and aspiration level of middle-class households in India. The report highlighted that government schemes like Pradhan Mantri Awas Yojana, smart city development, Real Estate development and others might play out in its growth in the near future. The gains in other listed Indian paint stocks are proof of safety that investors have found in the sector. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change since March 31, 2020 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akzo Nobel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr></tbody></table> Here are some of the risk factors you may want to consider before investing in Indigo paints. <ul><li>Although the paint industry is deemed to grow, what remains challenging is the cut-throat competition in the industry. </li><li>Paint companies have been one of the biggest beneficiaries of benign raw material prices resulting in significant gross margin expansion. According to ICICI Direct report, any significant upward movement in crude prices from the current level possesses a substantial risk at gross margin.</li><li>A significant portion of sales for the company are derived from Kerala, and any adverse developments in this market could adversely affect the business.</li><li>According to HDFC Securities, the company does not have long-term agreements with its suppliers for raw materials, and an inability to procure the desired quality, quantity of its raw materials in a timely manner and at reasonable costs may have a material adverse effect on its business. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink">Meet the 20 Indian-Americans nominated in Biden-Harris cabinet</a><a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink">One of India's biggest money managers explained ‘the mother of all bull runs’ using Amitabh Bachchan-starrer Amar, Akbar, Anthony</a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a>

Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why

New Delhi, Dec 10 () The government has assured renewable energy developers of providing more business-friendly environment and policies like payment secuirty mechanism to lower risk on investment. 
 "Government is committed to managing curtailments to enhance the ease of doing business for developers in the renewable energy sector," New and Renewable Energy Secretary Anand Kumar said on the sidelines of the ongoing Madrid Climate Conference (CoP25) at Madrid in Spain late Monday.
 A payment security mechanism to de-risk investments in renewable has also been been put in place, and on the demand side, the ministry is working with farmers and commercial and industrial (C and I) consumers to embed them into the renewables value chain as direct stakeholders, he was quoted as saying in a release by the Ministry of New and Renewable Energy (MNRE).
 At the summit, the official also informed about India's 175 GW renewable energy capacity by 2022 and said 83 GW has already been installed, and additional 70 GW capacity is under fruition.
The MNRE aims to bid out the balance capacities for solar and wind by June 2020, giving developers 30 months to complete deployment, Kumar said.
"Kumar (also) underlined the need for catalysing private investment and expand India's clean energy market through innovative risk mitigation and aggregation instruments. He stated that the additional investments in renewable up to year 2022 would be about USD 80 billion at today's prices and an investment of around USD 300 billion would be required up to 2030," the statement said
The official also briefed about the Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM- KUSUM) Scheme for farmers to install solar pumps and grid connected renewable power plants, targeting 26GW capacity and 1.7 million farmers by 2022. ABI ABI MR
MR

India assures renewable developers of pro-biz policies

<ul><li>On the occasion of <keyword id="6481694" type="General" weightage="20" keywordseo="gandhi-jayanti" source="Orion">Gandhi Jayanti</keyword>, Indian brands try to reflect on Gandhiji’s values of self-discipline, perseverance and self-sufficiency and pay a tribute to the father of our nation.</li><li>This year, Edtech giant <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>’s campaign applauds four individuals who have personified Gandhi’s ideals and brought about a change in society.</li><li>Recently appointed <keyword id="309498" type="General" weightage="20" keywordseo="vineet-singh" source="Orion">Vineet Singh</keyword>, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) takes us behind the scenes and walks us through the conceptualisation and execution process of the campaign.</li></ul>It is no secret that COVID-19 has had a severe impact on our collective mental health. We are feeling alone, overwhelmed with the spike in cases, and have been living with the constant fear that someone close to us or someone we know might succumb to the virus, for the past 1.5 years. With each passing day, it gets a little difficult to hold onto hope for a better tomorrow. If the father of the nation, Mahatma Gandhi were alive today, when we are faced with multi-layered crises such as global pandemic, climate crisis, economic recession, to name a few, he would have encouraged Indian citizens to manifest values of self-discipline, perseverance, and self-sufficiency. He would have walked with our urban migrants back to their homes, reminded us to stay united from a distance, used his mighty pen to send the message of resilience, thank doctors and environmental activists for their phenomenal work and lead the country towards the path of empathy and togetherness. On the occasion of <keyword id="791333" type="General" weightage="20" keywordseo="Mahatma-Gandhi-Jayanti" source="Orion">Mahatma Gandhi Jayanti</keyword>, EdTech Giant BYJU’s wanted to remind us that while the leader might not be with us today, he has taught us some invaluable lessons. Acted and voiced-over by the veteran actor Padma Shri Manoj Kumar, BYJU’S film applauds four individuals from different walks of life who have personified Gandhi’s ideals and brought about a change in society. The campaign celebrates Jamuna Tuddu, a Padma Shri awardee who has over the years fought the jungle mafia and given a lease of life to 100+ acre of forests; Sapan Patralekh, headmaster of a school in Jharkhand, who ensured that the learning journey for tribal kids did not suffer due to the closure of class rooms post the pandemic. He transformed village walls into colorful open classrooms; Dr Ganesh Rakh, who delivers girl child for free in his hospital; Kameshwar Wagmare, a 14-year-old kid who saved 2 of 3 kids from drowning. He received the Pradhan Mantri, Rashtriya Bal Puraskar 2021 for the courageous act. <div type="Youtube" id="gTAd5kwP8ok" title="Bapu Ki Aawaz (Celebrating The Mahatma) | (Ft. Padma Shri Manoj Kumar)" thumbUrl="https://i.ytimg.com/vi/gTAd5kwP8ok/mqdefault.jpg"></div> Vineet Singh, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) took us behind the scenes and walked us through the conceptualisation and execution process of the campaign. He shared, “The thought came from the fact that we really wanted to celebrate Baapu and we wanted to celebrate him with real life stories and how, while the whole world is talking about how humanity is dead, and people are not selfless anymore, we wanted to actually go out and celebrate that Baapu's belief of selflessness is still alive.” In a country of 138 crore people that is home to a lot of different cultures and traditions, and almost all of these cultures believe in celebrating empathy and selflessness, it was challenging for BYJU’s to find just four people who truly embody Gandhiji’s values. Telling us how the in-house team finalised their campaign’s protagonists, Singh said, “We wanted to cover a few facets that currently are troubling us across the country. Look at how the environment is suffering -- it's a conversation that everyone's having across the globe. Padmashree Jamuna Tuddu was an example who exists in our society and has worked towards saving 100 plus acres of forest in her region, but her message travels across the country. Then, we wanted to honor people who are doing something for the girl child. As a country, we are developing and we are getting to a place where men and women are getting equal as the day progresses, but little efforts like what Dr. Ganesh Rakh has done, is making that dream come true. After the pandemic, all schools were shut down in cities, and imagine what happened in remote Tribal Areas. So, we wanted to cover how people went out of their way there to bring alive education and Dr. Sapan was a great story. And finally, just an act of selflessness and bravery -- a 14-year -old kid jumping into the water because he saw two other young boys drowning. So, the reason why we chose these 4 people was because their stories were extremely fascinating, had a huge amount of thought and selflessness associated with it.” Singh recently joined BYJU’s from <keyword id="4052133" type="General" weightage="20" keywordseo="wework-india" source="Orion">WeWork India</keyword>. In his new role, he is hoping to help BYJU’s become the most loved edtech brand in India. His latest campaign with his team is just a part of many campaigns that would aim to position BYJU’s India’s most loved brand. Sharing his larger vision for the brand, he said, “The objective is to become one of the most loved brands in the country. And that's going to be the objective for this fiscal year, or the next fiscal year or any other fiscal year that we talk about until we get there.” CREDITS: Featured Stories: Dr. Sapan Kumar Patralekh, Dr. Ganesh Rakh, Padma Shri Jamuna Tudu and Kameshwar Waghmare Actor: Padma Shri Manoj Kumar Child Actor: Aashna Vaishnav &amp; Vidhaan Sharma Concept: Hitesh Bhagia (Sr. Director – Brand &amp; Creative Strategy, BYJU’S) Production: Hitesh Theodore Pereira (Principal Director - Media, BYJU’S) Directed By: Sonal Batra Production House: Dora Digs Produced By: Akshay Shah Team Dora Digs: Muskan Singhal, Vikas Malhotra, Suraj Shinde, Prathamesh Kamble, Vipul Mehta, Tushar Haware, Jitendra Kumar, Rohit Tiwari, Dinesh Malvi DOP: Jay Charola Editor: Falgun Busa Screenplay: Geet Sagar Music Director: Anand Bajpai Associate Producer: Sebastian Francis Line Producer: Dilip Sahoo &amp; Team Chief AD: Ayan Poddar &amp; Ardra Swaroop DI: Yash Soni

BYJU’s latest advertisement for Gandhi Jayanti aims to spread positivity and celebrate Indians who embody Gandhiji’s values

(Eds: Updates with break up of fresh cases, other details) Chandigarh, Jun 15 () Haryana reported 12 more coronavirus deaths, six of these from the hardest-hit Gurgaon district, taking the toll in the state to 100 on Monday, while the number of infections saw the highest single-day spike of 514 cases, according to a government bulletin. Now, the number of positive cases in the state stands at 7,722. Among the total COVID-related deaths in the state, 68 are males and 32 females. With six more deaths, Gurgaon now has total 37 fatalities, the highest for any district in the state. Five persons succumbed to the virus in Faridabad, another worst-hit district in the National Capital Region, which now has total 33 deaths. Jhajjar district reported another death, its second so far, according to the state health department's daily bulletin. Earlier on June 11, Haryana had reported 12 COVID-19 related deaths while the previous highest single-day jump in cases at 496 was recorded on June 7. The other districts from where deaths have been reported include six each from Sonipat and Rohtak, three each from Ambala and Jind, five from Panipat, two from Karnal and one each from Palwal, Hisar and Charkhi Dadri, according to the bulletin. The total active COVID-19 patients in the state are 4,057, while 3,565 have recovered, according to the bulletin. During the past 24 hours, 562 patients recovered and were discharged, the highest number during a single day. Among the districts from where fresh 514 cases were reported are 183 from Gurgaon, where total cumulative cases rose to 3,477, a total of 1,664 of which are active ones. As many as 128 cases were reported from Faridabad, 63 from Sonipat, nine from Jhajjar, 18 each from Karnal and Rewari, 10 from Fatehabad, 20 from Bhiwani, 21 from Rohtak, 13 from Mahendragarh, four each from Kurukshetra and Ambala, two each from Kaithal, Jind and Nuh, eight from Hisar, five from Sirsa, three from Panipat and one from Panchkula district, according to the bulletin. Meanwhile, Haryana Health Minister Anil Vij said that COVID-19 patients have been included in the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana. The Health Minister, as per an official release here, said that so far cards of more than 22.14 lakh people of the state have been made under Ayushman Bharat Yojana, all of which have been linked with Aadhaar. Presiding over a review meeting regarding prevention of COVID-19 with the supervisory officers of all the districts here on Monday, Chief Secretary Keshni Anand Arora directed that along with fighting the disease, maintaining the morale of the people at this time is also important. Hence, cases of all such patients who have recovered from COVID-19 and also those who recovered by staying in home isolation should be conveyed to others so that their morale is boosted, she said, according to the official release. SUN VSD SMN SMN

Haryana records highest single-day spike of 514 coronavirus cases; 12 fresh deaths take toll to 100

Delhi election result 2020: EC confirms AAP's victory in 62 seats while BJP backs 8 of 70 assembly seats

Checkout BJP and AAP candidates fighting from your constituency

<img class="gwt-Image" src="/photo/48741313.cms" /> 
At least 305 cities and towns, spread across nine states in the country, have been selected for constructing houses for the urban poor under the 'Housing for All by 2022' mission. This will coincide with the 75th year of <a href="http://www.businessinsider.in/searchresult.cms?query=India%27s+independence">India's independence</a>. 
 
Fifteen states have signed memoranda of agreement (MoA) with the <a href="http://www.businessinsider.in/searchresult.cms?query=Ministry+of+Housing+">Ministry of Housing</a> and Urban Poverty Alleviation for the programme. 
 
Under this initiative which is also called the <a href="http://www.businessinsider.in/searchresult.cms?query=Pradhan+Mantri+Awas+Yojana">Pradhan Mantri Awas Yojana</a>, the central government has targeted to construct 2 crore homes for urban poor by 2022. 
 Of the cities and towns identified, 74 are in <keyword id="6355554" type="COMPANY" weightage="80" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, 42 in Odisha, 40 in Rajasthan, 36 in <keyword id="43945" type="COMPANY" weightage="60" keywordseo="Chhattisgarh">Chhattisgarh</keyword>, 30 in Gujarat, 34 in Telangana, 19 in Jammu &amp; Kashmir and 15 each in Kerala and Jharkhand. The other states that have signed the agreement include <keyword id="37102" type="COMPANY" weightage="60" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword>, <keyword id="30033" type="COMPANY" weightage="80" keywordseo="Bihar">Bihar</keyword>, Manipur, Mizoram, <keyword id="50015" type="COMPANY" weightage="40" keywordseo="nagaland">Nagaland</keyword>, Uttarakhand. 
 
These states will follow and implement six mandatory reforms that are essential for making the housing mission a success in the urban areas. These are given below: 
 
1. Doing away with the requirement of a separate non-agricultural permission (NAP) in case the land for the project falls in a zone earmarked in the master plan of the city/town as residential. 
2. Putting in place a single-window time-bound clearance system for layout approvals and building permissions. 
3. Preparing or amending master plans by earmarking land for affordable housing. 
4. Doing away with approvals below certain built up area or plot size in respect of housing for economically weaker sections and low-income groups. 
5. Providing additional floor area ratio (FAR), floor space index or transferable development rights (TDR), and relaxing density norms for slum redevelopment and low-cost housing. 
6. Legislating or amending existing rent laws on the lines of the Model Tenancy Act. 
 Getamber Anand, national president of the <keyword id="82249" type="ORGANIZATION" weightage="80" keywordseo="Confederation-of-Real-Estate-Developers">Confederation of Real Estate Developers</keyword>' Association of India and managing director of ATS Infrastructure, said this is a very doable plan. 
 
"Some fiscal incentives by way of <a href="http://www.businessinsider.in/searchresult.cms?query=tax+exemptions+">tax exemptions</a> like they give to SEZs need to be given to the private sector to energize them. The margins in this segment of housing might be low, but they there are huge volumes to be achieved, for which the private sector is keen. If this happens, then this target can easily be achieved in the next three to four years," said Anand. 
 
Housing for All by 2022 initiative was launched by <a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi+">Prime Minister Narendra Modi</a> on June 25. 
 
(Image: Indiatimes)

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