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The price of cement is hardening across the country and since August this year, the rates have gone up by ₹16/per bag, said <keyword id="152070" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services-Ltd" source="Orion">Emkay Global Financial Services Ltd</keyword>. According to a report by the company, in November the prices went up by about ₹6-7/bag. While the prices remained flat in Western and Central parts of the country, the rates hardened in Northern, Eastern and Southern regions, Emkay Global said. According to the report, the cement companies are attempting further price hikes of ₹10-15/bag across the country this month. "Absorption of the price hikes will get revealed over the next few days. With the financial-year change (from December to March) by ACC and Ambuja, volume push by these companies is likely to be limited in December. This is positive for the pricing trend in the near term," Emkay Global said. "We expect the industry's profitability to increase by move r than ₹200/ton QoQ (even higher for Eastern region players) in Q3FY23, with improving cement prices along with peakout of operating cost in Q2FY23," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/only-half-of-indian-listed-companies-set-net-carbon-emissions-commitments-wtw/articleshow/96032489.cms" style="">Only half of Indian listed companies set net carbon emissions commitments: WTW</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-beauty-brand-rene-cosmetics-raises-25-million-in-series-b-funding-led-by-evolvence-india-edelweiss-group/articleshow/96031563.cms" style="">Indian beauty brand RENÉE Cosmetics raises $25 million in Series B funding led by Evolvence India, Edelweiss Group</a>

Cement makers plan to hike price by ₹10-15 per bag

<keyword id="81864" type="General" weightage="20" keywordseo="ongc-videsh" source="Orion">ONGC Videsh</keyword> Ltd, the overseas investment arm of state-owned <keyword id="6359072" type="General" weightage="20" keywordseo="oil" source="Orion">Oil</keyword> and Natural Gas Corporation, has incorporated a wholly-owned subsidiary OVL Overseas IFSC Ltd in <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>, Gujarat. "This GIFT city entity will function as the <keyword id="23764" type="General" weightage="20" keywordseo="global" source="Orion">global</keyword> treasury centre to cater to the treasury activities of OVL and its 25 subsidiaries (including step-down subsidiaries) spread across 15 countries. "Given the business-friendly regulatory environment in GIFT City, OOIL (OVL Overseas IFSC Ltd) expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 million tonnes of oil and oil equivalent (MMToe) by 2040 from overseas assets," the company said in a statement. India's first <keyword id="6367752" type="General" weightage="20" keywordseo="international-financial-services-centre" source="Orion">International Financial Services Centre</keyword> at GIFT City gives options to Indian and overseas multinationals to shift their overseas investments onshore. "OOIL will, thus, act as ONGC Group's gateway to the world for its overseas ventures and investments," it added. OVL owns interests in 32 <keyword id="43177" type="General" weightage="20" keywordseo="oil-and-gas" source="Orion">oil and gas</keyword> assets in 15 countries. In terms of reserves and production, it is the second largest petroleum company of India, next only to its parent Oil and Natural Gas Corporation (ONGC). Gujarat International Finance Tec-City or GIFT City is India's newest financial hub and a flagship project of Prime Minister Narendra Modi. The smart city and special economic zone has been developed in the Ahmedabad metropolitan region. Dozens of companies, including India International Exchange, National Stock Exchange, State Bank of India, HDFC Bank, GIC Re and other well recognised institutions are operating in the GIFT City.

ONGC Videsh incorporates subsidiary in GIFT City

<keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">Cement</keyword> companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said. "Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days," said Emkay Global. Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year. According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22. The demand is expected to improve in upcoming weeks, with all major festivals ending and given the onset of a busy construction season. The cost pressure is expected to ease in coming quarters for the industry players and the industry margins are expected to bottom out in Q2, with peaking of costs, higher exit of cement prices and pick-up in construction activities in coming quarters, said Emkay Global. The international petcoke prices are down by about 30 per cent from the peak of $195/tonne. Further the dip in the fuel prices are expected to provide cost savings of at least Rs 150-200/tonne from Q3FY23, Emkay Global said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Cement companies plan price hike of ₹10-30 per bag

At a time when there are many risks and uncertainties in the global economy, a 20 per cent allocation to <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> ETFs in an investment portfolio during Diwali is ideal, said <keyword id="594214" type="General" weightage="100" keywordseo="quantum-amc" source="Orion">Quantum AMC</keyword>. In a statement issued on Monday, Quantum AMC said the correction in the gold prices from the peak has made the metal affordable this festive season. "To make the most of the correction, we recommend investing in efficient products such as gold ETFs (exchange traded funds) to maximize the benefits," Quantum AMC said. Owning physical gold comes with additional costs such as making charges, retail premiums, storage concerns, and lower buyback value. On the other hand, gold ETFs are highly liquid, incur no making charges, and ensure exposure to insured pure gold. Also, the buy-sell spreads are tight making ETFs price efficient. The rise in the US interest rates and the likelihood of the hawkish stance of the <keyword id="6355253" type="General" weightage="50" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> converting itself into rate hikes which may go well into the next year as well may keep gold prices at the lower end of the range, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a recent report. "The current spell of gold weakness may continue till there is more concrete information on the state of the economy in the major economies, especially against the background of an aggressive central bank trade-off unfavourable to growth and promoting stability," Emk ay Global remarked. Generally, gold is considered as a hedge against inflation but this time around it does not seem so. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/pvr-reports-net-loss-of-71-23-crore-in-q2-attributes-it-to-bollywood-hollywood-flops/articleshow/94917917.cms">PVR reports net loss of ₹71.23 crore in Q2, attributes it to Bollywood, Hollywood flops</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-falls-19-paise-to-82-38/usd-as-foreign-outflows-weight-on-investor-sentiment/articleshow/94916562.cms">Rupee falls 19 paise to 82.38/USD as foreign outflows weight on investor sentiment</a>

20% allocation in gold ETF a better investment strategy: Quantum AMC

The power generation in first two months of the second quarter of current financial year rose marginally by 1.5 per cent on-year due to heavy rainfall during these months, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a report. This was sharply lower than 16 per cent growth in the first quarter of the current financial year, which had the impact of low base due to Covid-19. August generation has been less than 1 per cent. On a 3-year CAGR basis, growth for the two months has been 3.5-5 per cent. "A closer look into the electricity demand pattern suggests that heavy rains during July-August 2022 (up 30 per cent <keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>) might be the main reason for the same. Both residential and agricultural demand has high corelation to weather conditions. As the rainy season recedes, we believe growth in power demand will normalize to the medium-term figure of ~5 per cent," the report said. <keyword id="209265" type="General" weightage="50" keywordseo="hydro" source="Orion">Hydro</keyword> growth has been strong at 10 per cent, while Thermal and RE growth stood flat to moderate at 2 per cent. While, coal production reported 11.4 per cent and 8.3 per cent YoY growth for July and August, respectively. Coal dispatch is up 8.5 per cent/5.4 per cent YoY for the two months, although there was some tapering in growth. As per report, overall coal dispatch has been ~7 per cent for these two months, the power sector has received ~14 per cent higher coal in August 2023 as against August 2022 - YTD numbers stand at 20 per cent. This is good compared to last year, when India faced good demand upsurge during Sep-Oct and many thermal units did not have enough inventory. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/satellite-internet-provider-hughes-communications-india-on-monday-announced-the-commercial-launch-of-indias-first-high-throughput-satellite-hts-broadband-service-powered-by-the-indian-space-research-organisation-isro-as-the-elon-musk-run-spacex-abandoned-its-affordable-internet-project-starlink-in-the-country-/articleshow/94151236.cms">Hughes, ISRO launch satellite internet service in India as Musk's Starlink disappears</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lenskart-and-mirae-asset-capital-sign-up-with-razorpay-for-online-transactions/articleshow/94150744.cms">Lenskart and Mirae Asset Capital sign up with Razorpay for online transactions</a>

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

The <keyword id="14184962" type="General" weightage="20" keywordseo="Indian-currency-rupee" source="Orion">Indian currency rupee</keyword> breached the Rs 78 mark against the dollar for the first time ever on Monday, hitting a new lifetime low against the US dollar. The rupee closed Monday's trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal. "There is no fresh trigger to predict if the rupee will be 79 or 80 unless and until there is a conflict between US and China with regards to Taiwan, other than that there shouldn't be any correction towards 77 or 77.50 in the spot," said <keyword id="105309" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services" source="Orion">Emkay Global Financial Services</keyword> in a note. The rupee might see more weakness ahead of the US monetary policy review meeting starting later this week, where the <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword> is expected to hike rates and showcase a more aggressive action, said <keyword id="14184963" type="General" weightage="80" keywordseo="jigar-trivedi" source="Orion">Jigar Trivedi</keyword>, <keyword id="162421" type="General" weightage="80" keywordseo="research-analyst" source="Orion">Research Analyst</keyword>, Commodities &amp; Currencies Fundamental, Anand Rathi Shares &amp; Stock Brokers. However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/indian-equity-markets-wiped-out-127-billion-investor-wealth-in-just-two-days/articleshow/92181381.cms">Indian equity markets wiped out $127 billion investor wealth in just two days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/enterprise/news/simplilearn-is-looking-to-hire-800-people-including-160-freshers-this-year/articleshow/92181229.cms">Edtech startup Simplilearn bucks the trend — to hire 800 people this year</a>

Rupee breaches the ₹78 mark against the dollar for the first time ever

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> (<keyword id="20002939" type="General" weightage="20" keywordseo="RIL" source="keywords">RIL</keyword>) is set to hold its much-anticipated 47th Annual General Meeting (AGM) today, August 29, 2024. The AGM, which will be held virtually, is expected to feature some key announcements that could be of great interest to investors as well as shareholders. The meeting will start at 2:00 p.m. IST and will be live-streamed across various digital platforms. Read on to know all about <keyword id="22949345" type="General" weightage="100" keywordseo="Reliance-AGM" source="keywords">Reliance AGM</keyword> and what can be expected from it this year. <h2>What is Reliance AGM?</h2> The Reliance Annual General Meeting (AGM) is an important event where Reliance Industries Ltd (RIL) presents its financial performance, future strategies, and key developments to shareholders and the public. Held annually, this meeting is led by RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> and serves as a platform for major announcements, including potential IPOs, business expansions, and technological advancements. The AGM attracts widespread attention from investors, analysts, and industry watchers, as it provides insights into the company’s direction and its impact on various sectors. <h2>Where to watch livestream</h2> The AGM will begin at 2:00 p.m. IST and will be conducted virtually, allowing millions of shareholders and investors to join from anywhere. The event will be live-streamed across various digital platforms, including RIL's social media pages on YouTube, X (formerly Twitter), and Facebook. Shareholders can join the live broadcast using the following link: <a href="https://jiomeet.jio.com/rilagm" target="_new">https://jiomeet.jio.com/rilagm</a>. <h2>What to expect from Reliance AGM 2024</h2> IPO announcements: One of the most closely watched aspects of the AGM is the potential announcement of IPO timelines for Reliance <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords">Jio</keyword> and Reliance Retail. The possibility of these two giants going public has been a topic of discussion since 2019, and with the five-year mark approaching, investors are keen to hear concrete plans. Energy projects: Reliance’s foray into the green energy sector has been a key focus in recent years. The AGM is expected to provide updates on the progress of the company’s ambitious new energy projects, particularly the development of a large green energy complex in Jamnagar. This complex, featuring giga factories for solar PV, energy storage, and other technologies, is part of Reliance’s broader strategy to transition from traditional energy sources to more sustainable options. Investors will be looking for detailed timelines and potential earnings projections from these ventures. 5G Rollout: Reliance Jio’s 5G rollout is another critical area of interest. The company has already made significant strides in expanding its 5G network across India, and the AGM is expected to shed light on how RIL plans to monetize this infrastructure. This could include potential partnerships, new service offerings like the JioPhone 5G, and strategies to increase subscriber growth. The success of Jio’s 5G rollout will be crucial in maintaining its competitive edge in the rapidly evolving telecom market. AI focus: In addition to its core business areas, Reliance is also expected to make announcements related to artificial intelligence (AI). With global tech giants increasingly focusing on AI, RIL is likely to reveal new AI initiatives tailored to the Indian market. This could include expansions to Hanuman AI, a generative AI tool developed with leading Indian institutions, which supports multiple Indian languages. Succession planning: Another topic of interest is Reliance’s succession plan. With Mukesh Ambani having previously outlined a blueprint for leadership transitions within the company, shareholders will be looking for updates on how these plans are being implemented. The AGM may provide further clarity on the roles of Ambani’s children—Akash, Isha, and Anant—who have been earmarked to lead the telecom, retail, and energy segments, respectively.

Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

The entire country celebrating Raksha Bandhan today. But are you one of those elder siblings still mulling and stuck over the perfect gift to give your younger ones? Well, then it is time for you to move beyond your traditional gift ideas like sweets, gadgets, clothes, and jewelry, and invest in their future prosperity. How? By gifting them <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, or even mutual fund units. Here's a deep dive into how you can lay the foundations of a lasting bond with your siblings, and cement their financial future, one stock and one mutual fund unit at a time. <h2>How can I gift shares ?</h2>You can swiftly transfer shares online, provided both you and your siblings have a <keyword id="19977340" type="General" weightage="20" keywordseo="demat" source="keywords">demat</keyword> account. Many brokerage firms like Zerodha, Groww and others also offer this facility. For this, you will need to input details like your sibling's name (who you wish should receive these shares), particulars of their demat account, the amount of shares you wish to give as gift, and the name and 12-digit ISIN number of the company whose stocks you want to transfer. In addition, you will also have to provide the beneficiary owner ID of your siblings, reason for transferring these shares, and bank account details. In order to kickstart the process, you'll have to initiate what is known as an off-market settlement. This means without the stock exchange coming into the picture, two parties i.e. you and your sibling will mutually settle shares. For this, you will have to submit a delivery instruction slip (DIS) to your DP, or depository participant, which serves as a bridge between you and the depository. When you are transferring shares, you are essentially transferring your ownership of such stocks to them, and thus, you need to inform your DP and depository of the same. At present, there are only 2 depositories present in the country, namely NSDL and CDSL. You can submit this DIS both online and offline. If you have more than one siblings you wish to transfer shares to, remember to use separate DIS for each recipient's account. Once you initiate the transfer, your broker will send an email and SMS to the recipient, who will have 7 days to accept this. But remember, once you've transferred these shares, there is no provision to revoke this transfer. And just like with your clothes, accessories and everything else in life, your siblings will have full freedom and ownership to do whatever they deem fit with these shares! However, what you can certainly do, and make this gift more meaningful, is drive home the value of holding these securities for the long term, so that they are able to make the most of this investments. Ideally, a good start would be to start investing in stocks of large-cap, blue-chip companies, and them eventually complement them with small and midcap stocks, which offer higher legroom for growth. Per brokerage firm Master Capital Services Ltd, "consider choosing stocks from well-established companies with a solid track record and growth potential. It is essential to consider risk tolerance, investment horizon, and financial goals before selecting stocks for your brothers and sisters. The finest present you could give your siblings this year would be long-lasting financial stability". If you're looking for some stock recommendations you can consider for your siblings, we have you covered as well: <h4>Larsen &amp; Toubro Ltd. </h4>Why you should consider this? The company has shown consistent revenue growth and profitability in the past years while maintaining stability with its ROCE &amp; ROE of around 19% and 15%. L&amp;T has a significant global presence, with projects and operations in various international markets. This geographic diversification helps in tapping into global opportunities and reduces dependence on the domestic market. <h4>HCL Technologies Ltd. </h4>Why you should consider this? HCL Technologies is one of the IT giants of India, which is ranked amongst the top five Indian IT services companies in terms of revenues. HCL offers a wide array of IT, business services, engineering, R&amp;D services, and software products with operations in 60 countries. The company has been investing heavily in digital technologies, including cloud computing, artificial intelligence (AI), and automation. This focus aligns with current industry trends and positions the company to capture growth in the high-demand areas. <h4>TATA Motors Ltd.</h4>Tata Motors Limited is a leading manufacturer of automobiles and one of the largest OEM in India offering a wide range of passenger and commercial vehicles. Tata motors owns the flagship brand of Jaguar and Land Rover (JLR) which is a dominant automobile player in the global market. Its early entry in the electric vehicle segment has positioned it well ahead of many competitors and currently, it enjoys the largest market share in the EV segment in India. The focus on innovation and sustainability, along with a robust product lineup, positions Tata Motors well for future growth and market opportunities. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Tax Implications of gifting shares</h2>The best part about gifting shares is that it is tax-exempt, since you're giving it to your relative. This means your sibling will not be liable to pay any taxes on this gift. However, to be on the safer side, make sure that the market value of the shares that you gift them does not exceed Rs 50,000, or else your siblings, i.e. the recipient will have to incur a tax liability. If your siblings decide to sell these gifted shares, they will have to pay LTCG (long-term capital gains) tax at the rate of 12.5%, or STCG (short-term capital gains) tax at the rate of 20%, depending on how long they hold these securities for. <h2>Gifting mutual fund units? </h2>Unfortunately, you cant transfer your mutual fund units to your siblings. The transfer of mutual fund units is only possible in case the unitholder passes away. But the one thing you can certainly do is start an SIP, or systematic investment plan (SIP) in their name. With as much as Rs 5,000 per month, invested over a period of 10 years, you 'll have invested Rs 6,00,000 for you siblings, which would have earned returns worth Rs 5,61,695, taking their total corpus to Rs 11,61,695. You can even start an SIP with just Rs 500/month in their name. You can nudge them into continuing this, so that you instill the value of financial discipline and long-term investing in them. Remember, at the end of the day, the true value of your gift lies not just in its monetary worth, but in the knowledge, responsibility, and financial acumen that you will pass on to your siblings. So, this <keyword id="22639140" type="General" weightage="100" keywordseo="Rakshabandhan" source="keywords">Rakshabandhan</keyword>, consider tying not just a rakhi, but also a knot of financial empowerment.

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Cement makers plan to hike price by ₹10-15 per bag

IANS

ONGC Videsh incorporates subsidiary in GIFT City

PTI

Cement companies plan price hike of ₹10-30 per bag

IANS

20% allocation in gold ETF a better investment strategy: Quantum AMC

PTI

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

IANS

Rupee breaches the ₹78 mark against the dollar for the first time ever

IANS

Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

Divyanshi Sharma

Move over regular gifts! Gift your sister stocks, MF units this Rakhi

Ira Alok Puranik

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