Old vehicle owners may have to pay up to ₹3,800 per year as ‘Green tax’

If you live in a metropolitan city like Bengaluru, it's hard to go even five minutes without spotting the <keyword id="15514300" type="General" weightage="50" keywordseo="green-electric-vehicle" source="Orion">green electric vehicle</keyword> (<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword>) licence board whizzing along the traffic. The EV boom has begun to take off properly, making it an exciting time for vehicle owners and climate enthusiasts alike. While EVs might have been marketed as the saviour of climate catastrophe, a more sinister truth might be hiding between the rose-tinted lines. An Indian Institute of Technology-Kanpur study showed that, in some ways, EVs might actually be more damaging to the environment than traditional internal combustion engine cars and hybrid vehicles. To challenge this cleanliness notion, the study looked at all the vagaries of electric, hybrid and conventional cars from start to finish, to see what it actually takes to manufacture, own and drive each of them. What they found was a little distressing, to say the least. According to the study, manufacturing, using and scrapping EVs in India surprisingly produces 15-50% more greenhouse gases than conventional and hybrid cars. Most of this comes from the fact that even clean electricity originates from coal-powered plants in our country (about 75% of India’s total), which spew an exorbitant amount of carbon dioxide into the atmosphere. The study also outlines that if we need to be green, we might be overlooking a crucial area. According to the research, <keyword id="484101" type="General" weightage="50" keywordseo="hybrid-electric-vehicles" source="Orion">Hybrid Electric Vehicles</keyword> (HEV) emit the least amount of greenhouse gases overall, and yet they remain the most taxed and expensive for the common person. Perhaps the two biggest roadblocks in the transition to an EV for most Indians are the vehicles' relatively high costs and range. However, many are often sold on the promise of never having to buy the increasingly costly petroleum evil ever again. But here, there are several hidden factors that also need to be accounted for to grasp a clearer picture. For instance, EVs actually cost 15-60% more per kilometre compared to HEVs and conventional vehicles, the researchers found. Considering that HEVs usually boast 1-1.5 times the mileage per litre as traditional engine cars, this is an area that ought to be popularised more. Overall, the authors stress that if cleantech is the need of the hour, hybrid vehicles need more love, and should be given the same low-tax treatment as EVs. <h2>Recommended stories:</h2> <div type="Article" hostid="261" msid="100591011" title="World&amp;#39;s first weather report to include &amp;#39;plastic rain&amp;#39; forecasts 50 kg of microplastic falls over Paris" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Choose hybrid vehicles over electric and conventional ones if you actually want to be sustainable, IIT Kanpur study says

<ul><li>India's Silicon Valley is headed to the polls today and unemployment is one of their main concerns. </li><li>It's not only the IT industry but also the small enterprises that have been hit by demonetisation and India's revamp of its tax system. </li><li>Bengaluru's transformation to an industrial hub hasn't been without its cost with the city's burgeoning environment pollution problem.</li></ul>Bengaluru, known as India’s Silicon Valley and home to two of the biggest IT companies in India — Infosys and <a href="https://www.businessinsider.in/wipro-phishing-attack-computer-system-hacked/articleshow/68918449.cms">Wipro</a> — goes to the polls today representing 17% of Karnataka’s population. Amid the rapid changes in technology and the United States <a href="https://www.businessinsider.in/us-immigration-denial-of-h1-b-visas-raises-legal-questions/articleshow/68844794.cms">tightening</a> immigration laws, the sheen from India’s IT hub has dulled. Between 2016 and 2018, at least five million people lost their jobs in India according to a <a href="https://in.reuters.com/article/india-election-jobs/five-million-lost-jobs-in-india-between-2016-and-2018-report-idINKCN1RT1I3">report</a> by the Azim Premji University reporting unemployment increase in the formal and informal sectors of the economy. India is already looking at the highest unemployment rate in 45 years according to <a href="http://v">reports</a> and its effect is not lost on Bengaluru even with the <a href="https://www.financialexpress.com/industry/here-are-jobs-hiring-rises-by-15-bangalore-tops-check-where-delhi-mumbai-stand/1487202/">highest</a> hiring rate in the country. <a href="https://www.teamleasegroup.com/resources/reports/19">According</a> to TeamLease’s Employment Outlook, Bengaluru has been categorised as an employment ‘laggard’ with its employment outlook falling two percentage points in 2018. Waning job growth after demonetisation and the implementation of the General Goods and Services Tax (GST), Bengaluru is far from the day when it saw job spurts across the board for technical and blue-collar positions — starting from state run companies like India Telephone Industries Limited (ITI), Hindustan Aeronautics Limited (HAL), Bharat Electronic Limited (BHEL), and Bhart Earth Movers Limited (BEML). 
 <div type="ExtQuote" text="One must remember that a significant number of voters come from outside Karnataka. In the IT sector, at best 65% of the people are locals and 35% are from outside. So it is quite possible that they cannot go back to their places to vote, while some may have gone back to vote. So I would not worry too much about voter turnout being only 55%." auname="Indian IT industrialist and co-founder of Infosys, NR Narayana Murthy"></div>

 Changes in technology As technology gets more complex with the rapid implementation of artificial intelligence (AI) and machine learning (ML), so does the <a href="https://www.nasscom.in/system/files/secure-pdf/the-future-of-me_0.PDF">gap</a> of technical and non-technical skill requirements required for the sector. So, it's not that the jobs don’t exist in Bengaluru — there’s actually an increasing demand for highly skilled technical management jobs that offer <a href="https://timesofindia.indiatimes.com/city/bengaluru/bengaluru-pays-the-highest-salaries-in-india-study/articleshow/66743965.cms">high</a> salaries — but more, that people aren’t equipped with the correct skill sets for employment. The bigger issue boils down to the quality and content of educational institutions where the <a href="https://www.facilities.aicte-india.org/dashboard/pages/dashboardaicte.php">placement rate</a> of engineering and management schools was its highest at 30% between 2012 to 2018, according to AICTE’s online data dashboard. It’s not just Bengaluru that has jobs on its mind. It’s the <a href="https://www.businessinsider.in/lok-sabha-elections-2019-pew-research-report-on-key-election-issues/articleshow/68572903.cms">number one</a> issue for Indian voters as they participate in the world’s largest democratic exercise according to a report by the Pew Research Center (PRC). Lingering effects of demonetisation Demonetisation has been particularly hard for the citizens in Peenya, one of the biggest industrial areas in Asia located in northwest Bengaluru — and primary depends on cash for its transactions. It’s home to more than 6,000 small businesses, employing over 800,000 people and generation ₹120 billion ($1.72 billion) in revenue, according to Peenya Industries Association. Even Bengaluru’s realty market is only just <a href="https://bangaloremirror.indiatimes.com/bangalore/others/realty-market-rises-from-demonetisations-ashes/articleshow/63523111.cms">starting</a> to recover from the effects of demonetisation where property <a href="https://news.housebolo.com/demonetisation-impact-bangalores-property-markets-takes-a-hit/">registrations</a> dipped from 1,800 per day to 200 per day. Startups <a href="https://inc42.com/features/indian-startup-shutdowns-2017/">came</a> under the gun as well, especially the e-commerce segment. Bigger startups like Flipkart and Zomato, both based out of Bengaluru, had to <a href="http://v">figure out</a> how to make up for the fact that 60 to 70% of their orders were cash-on-delivery transactions. Choking on industrial waste While industries in Bengaluru have thrived over the past couple of years, it has not been without its cost. The city’s Bellandur Lake and Vrishabhavathi River have been in the news for all the wrong reasons. The Bellandur Lake was seen spewing a 10-feet high wall of toxic foam that seeped on to the roads and bridges. 
	
 
 
 <div type="image" title="d7bc57be0e0a6a0fb56b45acb0836c51" msid="68930987" hostid="261" caption="&amp;lt;p&amp;gt;The 10 feet of foam on Bellandur Lake in Bengaluru in 2016&amp;lt;/p&amp;gt;"></div>









 Rashmi Mandanna, a south Indian actor, even did an underwater photoshoot at the lake to draw awareness the increasing problem of water pollution. 
	
	
	
	<div type="twitter" handle="iamRashmika" handlename="Rashmika Mandanna" image="http://pbs.twimg.com/profile_images/1048058166737608704/hcxNROBl_normal.jpg" favoritecount="12895" retweetcount="2839" status="This was a photoshoot regarding awareness for the water pollution by this wonderful team Creative Director :… https://t.co/CiRvenS0Ua" createdat="1544704656000" id="1073195228603928577"></div>









 The Peenya Industrial Belt, with more than 7,500 industries — including the Peenya, Yeshwanthpura, Rajajinagar, Jalahalli, Goraguntepalya and Dasarahalli industrial areas — has also been called into question for polluting the Vrishabhavathi River and the lakes within its catchment area. One of lakes, Nelagadaranahalli Lake, is even <a href="https://www.thenewsminute.com/article/how-bengaluru-s-peenya-industrial-area-has-choked-and-killed-its-surrounding-lakes-90116">speculated</a> to be more toxic than Bellandur Lake. The problem seems to be on the rise despite corporates facing penalties <a href="https://www.downtoearth.org.in/news/pollution/ngt-makes-polluters-pay-nearly-double-so-far-this-year-than-whole-of-2018-63927">amounting</a> to ₹750 million ($10.8 million) within the first quarter of 2019 for water pollution in Karnataka from National Green Tribunal (NGT). The issue of the city’s lakes being polluted also fuels the resultant water crisis in the city. Citizens <a href="http://www.newindianexpress.com/cities/bengaluru/2019/mar/26/water-and-traffic-issues-bog-down-it-showcase-of-bengaluru-1955879.html">claim</a> that the water was crystal clear and used for drinking and agricultural activities. But despite these issues, the biggest <a href="https://economictimes.indiatimes.com/news/elections/lok-sabha/india/decoded-the-concerns-and-aspirations-of-the-urban-electorate-in-seven-indian-cities/articleshow/68868018.cms">challenge</a> is going to be getting voters to come out and participate in a city that has consistently recorded a low voter turnout. The Bharatiya Janata Party (BJP already paid the price for some of these issues by losing its opportunity to win during the Karnataka’s State Assembly Elections in 2018. But, the Janata Dal (Secular) and Congress alliance that replaced the government has been <a href="https://www.news18.com/news/politics/dissidence-in-some-lok-sabha-seats-over-jds-alliance-says-congress-2078551.html">facing dissidence</a> in certain constituencies, hampering their prospects. See also: <a href="https://www.businessinsider.in/lok-sabha-elections-2019-pew-research-report-on-key-election-issues/articleshow/68572903.cms">5 charts that tell you what India cares about ahead of 2019 elections</a> <a href="https://www.businessinsider.in/lok-sabha-election-2019-second-phase-political-strategy-for-reserved-seats/articleshow/68925204.cms">Nearly a quarter of the seats in the Lok Sabha are “reserved” and they matter a lot in this election</a> <a href="https://www.businessinsider.in/politics/elections/lok-sabha-elections-2019-second-phase-of-polling-in-tamil-nadu-voters-issues/articleshow/68930595.cms">Tamil Nadu’s angry voters have a small oil field, a big highway, a medical entrance test, and a police shootout in mind</a>

Job losses will haunt Bengaluru, India’s Silicon Valley, as it goes to polls today

<img class="gwt-Image" src="/photo/50687568.cms" style="width: 800px; height: 600px;" /> <keyword id="45031" type="PERSON" weightage="100" keywordseo="Tax">Tax</keyword> payers can now e-verify ITRs, making <keyword id="3008161" type="UNKNOWN" weightage="100" keywordseo="e-verification">e-verification</keyword> tax returns simpler. Income-Tax Department has included bank account and demat account details among the modes that can be used to generate code to e-verify ITRs. 
 Currently an Income-Tax Return or <keyword id="6374875" type="ORGANIZATION" weightage="100" keywordseo="ITR">ITR</keyword> can be e-verified by using internet banking, email or an Aadhaar number- generated One Time Password (OTP). 
To these, two more modes of bank account and share demat account have been added for generating an electronic verification code (EVC) that is used to submit annual ITRs. 
 
The measures are intended towards ending the practice of sending paper acknowledgement of ITRs to CPC, Bengaluru. 
 
The efiling website of the I-T department would now provide a facility to pre-validate bank account details. The assessee will have to provide bank account number, IFSC code, email id, and mobile number and these details will be validated against the details of the tax payer registered with the bank. 
 
"Generated EVC will be sent by e-filing portal to taxpayers's email id and or mobile number verified from bank," a CBDT notification said. 
 
 
"Generated EVC will be sent by e-filing portal to taxpayers's email id and or mobile number verified from bank," a CBDT notification said. 
 
The list of banks which will participate in this facility would be provided on the efiling website. 
 
As regards generation of EVC using Demat account details, the CBDT said the assess would have to provide demat account number, email id and mobile number. This details, along with Permanent Account Number (PAN), would be validated against the information with depository (CDSL/NSDL). 
 
"Generated EVC will be sent by e-filing portal to email id and or mobile number verified from CDSL or NSDL," CBDT said. 
 
After the EVC is generated, it can be put in the ITR form for final submission. 
 
"Despite of all the efforts of the government to go green and paperless, the mandate of providing Aadhaar Number at the time of filing the return of income prevented e-filing from becoming a completely paperless process for those who did not have an Aadhar Card," Nangia &amp; Co Executive Director Neha Malhotra told PTI. 
 
Last year the tax department launched its ambitious One Time Password (OTP) based e-filing verification system for taxpayers using the Aadhaar number. 
 
According to experts, bank account detail based EVC generation is a more reasonable mode for e-verification. It would be now easier for small tax payers as mostly all of them have bank accounts, even if they do not have Aadhaar numbers. 
 
"With Jan Dhan Yojna, even the small taxpayers have a bank account and thus can complete easily complete the return filing process," Malhotra added. 
 
(Image credits: indiatimes)

E-verification becomes easier!

UK Foreign Secretary <keyword id="20277802" type="General" weightage="20" keywordseo="David-Lammy" source="keywords">David Lammy</keyword> arrived in the national capital on Wednesday morning (July 24) in the first high-level visit by the newly-elected Labour government in the UK. Lammy is on a two-day tour to highlight the importance of a new partnership between the UK and India that focuses on economic, domestic and <keyword id="20933083" type="General" weightage="20" keywordseo="global-security" source="keywords">global security</keyword>. In his first visit to India, Lammy will hold meetings with external affairs minister Jaishankar and commerce minister Piyush Goyal. He will also meet climate and business leaders to unlock the full potential of the <keyword id="22525325" type="General" weightage="20" keywordseo="UK-India-partnership" source="keywords">UK-India partnership</keyword>. Lammy will push for a reset of the UK-India partnership, including by reinforcing the UK's commitment to securing a <keyword id="19945642" type="General" weightage="20" keywordseo="Free-Trade-Agreement" source="keywords">Free Trade Agreement</keyword> (FTA) for greater growth in both countries. Earlier, during his campaign, Lammy had said, "India is the emerging superpower of the 21st century, the largest country in the world with 1.4 billion people and one of the fastest growing economies in the world. Our Free Trade Agreement negotiations is the floor, not the ceiling, of our ambitions to unlock our shared potential and deliver growth, from Bengaluru to Birmingham." He said that the UK and India have shared interests on the green transition, new technologies, <keyword id="21535046" type="General" weightage="20" keywordseo="economic-security" source="keywords">economic security</keyword> and global security. "I am traveling to India in my first month as Foreign Secretary because resetting our relationship with the Global South is a key part of how this government will reconnect Britain for our security and prosperity at home," he said. David Lammy will galvanise support for accelerated action on the climate crisis with India as an indispensable partner - driving forward the clean energy transition and creating opportunities for British and Indian businesses. He will discuss partnering on Indian-led global initiatives to build clean power access, climate resilience in the global south and small island states. Lammy will underscore the importance of the Living Bridge between the UK and India. It represents the 1.7 million people with Indian heritage who have made their home in the UK and made an exceptional contribution to British life. In a visit to India's third largest technology company, the Foreign Secretary will meet business leaders to highlight how the UK and India are working together on shared ambitions such as cutting-edge science to encourage innovation, boost trade, and improve the livelihoods of working people in both countries. The Foreign Secretary will also hold high-level talks with members of the Indian government, including the External Affairs Minister S Jaishankar. On this visit, Lammy will also highlight the extraordinary contribution of British Indians to enriching the UK's social and economic landscape. According to a statement from the British High Commission, Lammy will highlight the importance of unlocking the potential of the new UK-India partnership, so both partners can deliver prosperity not just for the people of India and the UK but for the rest of the world. The Foreign Secretary will travel on from India to the ASEAN Foreign Ministers' meeting in Laos, where he will advance UK economic partnerships and unveil new cooperation on climate and health. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25: Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-to-launch-in-india-on-august-14-alongside-the-pixel-9-series/articleshow/111855704.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-to-launch-in-india-on-august-14-alongside-the-pixel-9-series/articleshow/111855704.cms" target="_blank">Google Pixel 9 Pro Fold to launch in India on August 14 alongside the Pixel 9 series</a><a href="https://www.businessinsider.in/budget/news/budget-2024-customs-duty-on-mobile-phones-chargers-and-more-reduced/articleshow/111962490.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-customs-duty-on-mobile-phones-chargers-and-more-reduced/articleshow/111962490.cms" target="_blank">Budget 2024 – Customs duty on mobile phones, chargers and more reduced</a>

UK Foreign Minister David Lammy arrives in Delhi on a two-day tour; FTA, security issues on agenda

The <keyword id="14458858" type="General" weightage="100" keywordseo="agricultural-purchase-marketing-committee" source="Orion">Agricultural Purchase Marketing Committee</keyword> (APMC), commission agents, purchasers, traders and labour unions are observing bandh in Karnataka on Friday against the imposition of 5 per cent <keyword id="6354679" type="General" weightage="80" keywordseo="gst" source="Orion">GST</keyword> on rice, wheat, pulses and other <keyword id="44568" type="General" weightage="80" keywordseo="foodgrains" source="Orion">foodgrains</keyword>. APMC and the rice mills across the state will remain closed. The State Rice Mill Owners' Association has stopped all activities and has demanded that the central government reverse its decision and the <keyword id="6355040" type="General" weightage="50" keywordseo="gst-council" source="Orion">GST Council</keyword> take a review of its decision to impose GST on foodgrains. The GST will apply on foodgrains from July 18. It will shoot up the prices of rice, jower, ragi, which is going to impact the poor, middle and labour class. Due to the inflation, the middle and poor class have no capacity to cope up with price rise in most needed foodgrains which are used to prepare staple food. Kogundi Bakkeshappa, Davanagere District Rice Mill Owners Association President stated that the owners of rice mills have been making submissions in this regard since long back and they haven't got any response. "If GST is implemented by the Central government, we will meet and discuss the future course of action," he said. Foodgrains like rice, wheat, pulses and others were exempted from tax since 1983 considering that they are used widely by people. After GST, a quintal of rice will cost Rs 300 to Rs 400 more. The prices of ragi, pulses, and jowar will also see a rise. Shamanuru Shivahankarappa, senior <keyword id="1575" type="General" weightage="50" keywordseo="congress" source="Orion">Congress</keyword> leader has described the move of the central government as inhuman. "I will discuss with the Chief Minister <keyword id="50892" type="General" weightage="50" keywordseo="basavaraj-bommai" source="Orion">Basavaraj Bommai</keyword>," he said. Federation of <keyword id="12821222" type="General" weightage="50" keywordseo="karnataka-chambers-of-commerce-and" source="Orion">Karnataka Chambers of Commerce and</keyword> Industry (FKCCI) Vice President Rameshchandra Lahoti stated that total bandh will be observed in Yeshwanthpur APMC market in Bengaluru on Friday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rupee-makes-a-small-comeback-gains-7-paise-after-hitting-a-new-low-of-80-against-the-dollar/articleshow/92890594.cms">Rupee makes a small comeback, gains 7 paise after hitting a new low of 80 against the dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/indian-green-blockchain-startup-raises-100-million-turns-unicorn-in-a-crypto-bear-market/articleshow/92850567.cms">Indian ‘green’ blockchain startup raises $100 million, turns unicorn in a crypto bear market</a>

Karnataka traders and labour unions observe bandh against 5% GST on rice, foodgrains

<ul><li><keyword id="13714259" type="General" weightage="100" keywordseo="newrl" source="Orion">Newrl</keyword> is a Bengaluru-based <keyword id="4164994" type="General" weightage="20" keywordseo="defi" source="Orion">DeFi</keyword> (<keyword id="10047417" type="General" weightage="20" keywordseo="decentralised-finance" source="Orion">decentralised finance</keyword>) startup that has come out with a new solution for bringing liquidity to ESOPs of unlisted companies.</li><li>With the startup boom in India, ESOPs are more popular than ever before as a means to attract and retain talent.</li><li>We caught up with the company’s founder, <keyword id="343022" type="General" weightage="50" keywordseo="swapnil-pawar" source="Orion">Swapnil Pawar</keyword>, to understand Newrl’s <keyword id="13717348" type="General" weightage="20" keywordseo="tokenised-esop" source="Orion">tokenised ESOP</keyword> service works, and more.</li></ul>Employee stock ownership plans, also known as ESOPs, are a lucrative way of motivating employees and retaining quality talent. For companies, ESOPs are a great way to reward employees while minimising cash flow, which is a win-win for both the parties involved. But one of the issues with ESOPs is that they are not liquid. So, for employees, while they get rewarded for their contributions, they cannot cash out until their options are vested, or if they quit or are fired before vesting, their rewards are wasted. This is where Newrl comes in – the Bengaluru-based company founded in 2019 by Swapnil Pawar has come up with a solution to bring liquidity to ESOPs, benefiting employees and giving companies an added avenue to make their ESOPs more lucrative than before. <div type="Article" hostid="261" msid="91090688" title="Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private" mstype="2" mssubtype="0"></div> Some of the early-stage investors include Manish Agarwal of Nazara Technologies, Jasmeet Singh Gandhi, head of global business development at Clevertap, and Uday Sodhi, ex-head of SonyLiv. It is worth noting that the tokenised <keyword id="120103" type="General" weightage="20" keywordseo="ESOP" source="Orion">ESOP</keyword> service is still in the testing phase. Newrl expects it to come out of testing some time in May this year. <cmsannotation type="cmsannotation" annotationid="What are Newrl’s tokenised ESOPs?" comment="subhead" text="What are Newrl’s tokenised ESOPs?">What are Newrl’s tokenised ESOPs?</cmsannotation> The idea with Newrl’s tokenisation of ESOPs is straightforward – make them tradable so that the employees who need the money, or want to cash out, can do so. Those who want to buy shares of an unlisted company can benefit from this by buying these options from those who want to sell – this creates a market for ESOPs for unlisted companies, which are generally illiquid. We caught up with the company’s founder, Swapnil Pawar to understand the idea behind Newrl, the need for tokenising ESOPs and the concerns that the company had to take care of before launching this new service. Q. Before we get started, give us a brief overview of tokenised ESOPs. A. The broad idea with tokenised ESOPs is to improve the liquidity of the underlying stock and hence make ESOPs valuable. Q. How will these tokenised ESOPs work? Will they be tokenised when they are granted, or is there a separate process to be done by the employees? A. We expect ESOPs to be made into smart contracts right upon the grant. When they are vested, the exercise period begins and within the exercise period, if the contract is called with adequate proof of money being paid, the execution of transfer of share tokens to the employee is automated and decentralised. Primarily, Pawar explained that the aim is to improve the liquidity of ESOPs before they are vested, in case employees want to cash out before these options are vested. Q. So when can the employees cash in their ESOPs? A. Pawar explained that he expects there to be three options that the companies signing up for this service might go for: <ul><li>Restricted transfer of ESOPs until they are vested – this is similar to the restrictions on ESOPs even now. The only benefit out of this is that the options are tokenised and there is transparency in this process.</li><li>Limited restrictions on ESOPs – this will involve restrictions on transferring the ESOPs to specific people whitelisted by the company, primarily to ensure the ownership of the company is protected.</li><li>Freely transferable ESOPs – this will not involve any restrictions on transfer of ESOPs.</li></ul>Basically, the ability to cash in on ESOPs will be decided by the companies signing up for the service. Q. How does this benefit the companies signing up for tokenised ESOPs? A. Companies which sign up for this service can reduce their cash outflow, and thereby, use ESOP grants to remunerate advisors, the directors, acquisitions and other use cases. “So, the general improvement of being able to raise money, paying employees, get collaborations like advisors, it all becomes far more versatile for an unlisted company or a startup,” Pawar explained. Q. How about regulatory concerns, how are you at Newrl addressing this? A. “So we have taken a very detailed legal opinion, spent an amount of money and time on it, we have concluded the following that Indian context shares can only exist in demat form now,” Pawar explained. “And registrar of companies (ROC) has no major restrictions beyond that, shareholder's agreements (SHA) are completely the prerogative of the company, only the Articles of Association of the company need to have an article or section to specially mention the tokenisation,” he added. As for the legality, Pawar explained that both the Information Technology Act, and the Indian Contracts Act recognise smart contracts, and tokenised ESOPs are considered as smart contracts. This makes them legally enforceable. Q. What are the other challenges that tokenised ESOPs might face? A. “There is a 30% digital tax on any capital gain on digital assets, which proves costly at times,” Pawar added, saying that the popularity of tokenised ESOPs will be dependent on their ease of access. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/bought-twitter-shares-in-india-heres-what-will-happen-after-elon-musks-acquisition-and-twitter-going-private/articleshow/91090688.cms">Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-is-now-more-valuable-than-state-bank-of-india/articleshow/91093002.cms">Adani Green is now more valuable than State Bank of India – here's why</a> <a href="https://www.businessinsider.in/finance/news/wholesale-inflation-in-india-is-now-near-the-same-level-as-it-was-during-the-1991-economic-crisis/articleshow/90930779.cms">Wholesale inflation in India is now near the same level as it was during the 1991 economic crisis</a>

Meet Newrl, the DeFi startup trying to make it easier for you to cash in on your lucrative ESOPs

<ul><li>As India moves towards the probability of a sustainable future, electric vehicles take the centre stage of most discussions.</li><li>Here’s a look at Indian EV startups that have raised funding in the last one month, including Ola Electric which is reportedly in talks with marquee investors for its latest funding round.</li><li>As of 2019-20, India has sold over 3.8 lakh electric vehicles and buyer interest is higher than ever before.</li></ul>As India moves towards the probability of a sustainable future, electric vehicles take the centre stage of most discussions to cut down pollution and also the dependency on fuel as a natural resource. And enjoying the attention are India’s EV startups, who have made headlines in the last month as investments pour in. Here’s a look at the Indian EV startups that have raised funding in the last one month, including Ola Electric which is <a href="https://entrackr.com/2021/03/exclusive-temasek-to-join-ola-electrics-over-300-mn-round-eyes-secondary-shares-in-ola/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts">reportedly in talks</a> with marquee investors for its latest funding round. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What they do </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Latest funding amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola Electric (In talks) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EV manufacturer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$300 million <a href="https://entrackr.com/2021/03/exclusive-temasek-to-join-ola-electrics-over-300-mn-round-eyes-secondary-shares-in-ola/">(reportedly)</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Temasek, SoftBank, Tiger Global among others. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EV retail marketplace </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DNA Entertainment Networks, Mumbai Angels, CreditWise Capital, LetsVenture. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Euler Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EV developer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Inventus Capital India, Jetty Ventures, Emergent Ventures, Blume Ventures, Ev2 Ventures. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Battery Smart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Provider of battery-swapping station network for multi-category electric vehicles </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orios Venture Partners, Faad Network. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">eBike </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online platform offering electric-two wheeler subscription platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup Buddy, Real Time MCS, Boudhik Ventures, Fluid Ventures. </td></tr></tbody></table>Source: Data intelligence firm Tracxn The interest in these startups come in as India is poised to take the global stage in EV. They join other well-funded Indian startups like Ather Energy, US-based Triton, who have already rolled out their EV two-wheelers and four-wheelers or set up shop in India Ola Electric, the EV arm of ride-hailing giant Ola, in fact claims to be building the world’s largest two-wheeler manufacturing facility. The company claims that by 2022, its facility in Tamil Nadu will be ready to produce 10 million vehicles annually. According to a survey conducted by autotech firm CarDekho and Omnicom Media Group, 66% of customers are willing to buy electric vehicles, out of which 53% said they were strongly inclined to go electric. <cmsannotation type="cmsannotation" annotationid="EVs sold in India (two-wheelers, three wheelers, four-wheelers)" comment="subhead" text="EVs sold in India (two-wheelers, three wheelers, four-wheelers)">EVs sold in India (two-wheelers, three wheelers, four-wheelers)</cmsannotation> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017-18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018-19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019-20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">56,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129,600 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">155,400 </td></tr></tbody></table>Source: Society of Manufacturers of Electric Vehicles <cmsannotation type="cmsannotation" annotationid="Push from the government" comment="subhead" text="Push from the government">Push from the government</cmsannotation> According to <a href="https://energy.economictimes.indiatimes.com/news/power/india-to-launch-supercharged-push-for-global-electric-vehicle-players/81642708">reports</a>, the Indian government is planning to offer fresh incentives to EV manufacturers – a possible $8 billion over the next five years. India’s transport minister Nitin Gadkari, who had said that he himself drives an EV, called for people to embrace the shift to electric. Gadkari also said that 100% lithium ion batteries, an essential component in EVs, will be made in India, while the government also researches on other abundantly available materials like aluminium ion, sodium ion, steel ion and zinc ion for batteries. During the country’s Union Budget 2019-20, Finance Minister Nirmala Sitharaman pushed for the Indian Electric Vehicles mission. In an attempt to make EVs popular, the finance minister had announced a tax subsidy for people who buy EVs. “To make electric vehicles affordable to consumers, our government will provide (an) additional income tax deduction of ₹1.5 lakh on the interest paid on loans taken to purchase electric vehicles. This amounts to a benefit of around ₹2.5 lakh over the loan period to the taxpayers who take loans to purchase electric vehicles,” said Sitharaman. The government has also launched the National Electric Mobility Mission Plan 2020 and also projects like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) for widespread adoption of EVs. <cmsannotation type="cmsannotation" annotationid="From Elon Musk to Mukesh Ambani set to enter EV industry in India" comment="subhead" text="From Elon Musk to Mukesh Ambani set to enter EV industry in India">From Elon Musk to Mukesh Ambani set to enter EV industry in India</cmsannotation> World’s second richest man Elon Musk’s Tesla has already <a href="https://www.businessinsider.in/business/auto/news/why-elon-musk-tesla-indian-subsidiary-has-a-parent-company-registered-in-the-netherlands/articleshow/80331151.cms">announced </a>its much-awaited India entry. Tesla has already set up an office in India’s Bengaluru and will soon set up a manufacturing unit in the city. Meanwhile, Asia’s richest man Mukesh Ambani also <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-says-he-will-make-batteries-ahead-of-a-boom-in-electric-vehicles/articleshow/81166590.cms">has his eyes</a> on India’s burgeoning EV sector. His company Reliance Industries recently announced that it would make batteries for EVs. “RIL will further accelerate its new energy and new materials business towards its vision of clean and green energy development,” the company said in a filing with the stock exchanges. These developments come in as big automotive players like Tata, Hyundai and Maruti have been ramping up their EV production in India. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-to-increase-price-of-cars-from-april-2021/articleshow/81632209.cms">India’s largest car manufacturer Maruti Suzuki to increase price of cars from next month</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

India’s electric vehicle startups charge up with funding as everyone from the government to Mukesh Ambani and Elon Musk have their eyes on the sector

<ul><li>On June 8, the first phase of <keyword id="5577826" type="COMPANY" weightage="20" keywordseo="UNLOCK-INDIA">unlock India</keyword> began with <keyword id="89358" type="PERSON" weightage="20" keywordseo="shopping-malls">shopping malls</keyword>, offices, religious places opening across India. </li><li>However, the fear of the virus still looms large and the number of coronavirus cases continues to be on the rise. </li><li>Here's a look at what worked in the first week and what didn’t. </li></ul>It’s been a week of India’s <keyword id="9318169" type="UNKNOWN" weightage="20" keywordseo="Unlock-1-0">Unlock 1.0</keyword> – when the country slowly began to open up from the coronavirus lockdown. On June 8, shopping <keyword id="45856" type="PERSON" weightage="20" keywordseo="Malls">malls</keyword>, offices, religious places opened across India. Even while the fear of the virus still looms large and the number of coronavirus cases continues to be on the rise, businesses are beginning to return to work with the hope of normalcy returning soon. But here’s a look at what worked and what didn’t. Public Transport With offices resuming in a phased manner, people are getting back on the roads. However, metros continue to stay shut, while buses have resumed service in several cities. In the national capital, the Delhi Transport Corporation had started shuttle services in mid-May and the ridership had already risen to 3.5 lakh as of <a href="https://timesofindia.indiatimes.com/city/delhi/delhi-buses-ridership-reaches-over-3-5-lakh/articleshow/75901874.cms">May 22</a>. <div type="image" title="traffic jam mumbai" msid="76351623" hostid="261" caption="&amp;lt;p&amp;gt;Traffic jam in Mumbai&amp;lt;/p&amp;gt;"></div> While Mumbai misses its local trains, autos, taxis and BEST buses are now plying on the roads again. But because of social distancing, the BEST buses aren’t working in full capacity and this has resulted in delays as people have to wait longer for bus availability. "We don't take too many passengers. Also, people are cooperating. If the bus is full, they don't come in," a bus conductor in Mumbai told <a href="https://www.ndtv.com/india-news/mumbai-residents-miss-local-trains-as-city-reopens-after-lockdown-2243507">NDTV.</a> <div type="image" title="bus1" msid="76351631" hostid="261" caption="&amp;lt;p&amp;gt;A bus conductor in Mumbai stopping more people from boarding &amp;lt;/p&amp;gt;"></div> In Mumbai, Freego – a self balancing scooter for the Mumbai police was also launched for patrolling. <div type="image" title="police" msid="76351650" hostid="261" caption="&amp;lt;p&amp;gt;Scooters launched for police patrolling in Mumbai&amp;lt;/p&amp;gt;"></div> In Bengaluru, public transport is still being avoided by people and people are preferring to travel their own cars. <keyword id="34615" type="ORGANIZATION" weightage="20" keywordseo="restaurants">Restaurants</keyword> A lot of the restaurants decided to <a href="https://www.cnbctv18.com/business/restaurants-open-in-delhi-footfall-still-low-6095511.htm">not reopen</a> as with the migrant workers having gone home, they are short staffed and the curfew timing doesn’t really help their operations. Footfall has <a href="https://www.theweek.in/news/biz-tech/2020/06/08/as-malls-restaurants-open-across-india-footfall-low-amid-infection-fear.html">remained low</a> for almost all restaurants across the country. <div type="image" title="restaurant" msid="76351722" hostid="261" caption="&amp;lt;p&amp;gt;A restaurant in Bengaluru practices social distancing while serving guests&amp;lt;/p&amp;gt;"></div> In Delhi’s posh Khan Market, <a href="https://www.indiatoday.in/india/story/delhi-40-restaurants-in-khan-market-shut-shop-more-likely-to-follow-suit-1688048-2020-06-11">40% </a>of the hotels have shut down. The 9 pm curfew also means the restaurants have to start winding down at a time which would have been their busiest hour earlier. Malls “Over 250 malls have started operations again, operating between 60-70 percent occupancy. Categories like electronics, cosmetics, casual fashion wear, kids wear have seen a good uptake in the first few days,” said Amitabh Taneja, Chairman, Shopping Centres Association of India. <div type="image" title="thiruvanthapuram mall" msid="76351742" hostid="261" caption="&amp;lt;p&amp;gt;People at a mall in Thiruvanthapuram &amp;lt;/p&amp;gt;"></div> But that’s not the full story. A survey from the Retailers Association of India said that a majority 67% of the consumers surveyed showed little to no excitement in shopping post the lockdown. Moreover, 78% of the respondents said their shopping expenditure would decrease. <div type="image" title="mall sanitization" msid="76351761" hostid="261" caption="&amp;lt;p&amp;gt;Cleaning staff sanitizing a mall in Thiruvanthapuram&amp;lt;/p&amp;gt;"></div> From directives like those from the UP government where malls can stay open, but not the shops in them to the rising number of coronavirus cases in India, consumers are still shying away from retail therapy. <div type="image" title="crawford market shops" msid="76351769" hostid="261" caption="&amp;lt;p&amp;gt;Crawford market in Mumbai reopens&amp;lt;/p&amp;gt;"></div> “Retailers are amongst the most resilient entrepreneurs of the Indian ecosystem. Despite the lockdown relaxations, retailers are still facing a challenging time to revive their business. The impact on retail across the country is concerning and it will take a considerable amount of time for retailers to return to the green,” said Kumar Rajagopalan, CEO, Retailers Association of India. <div type="image" title="sarojini" msid="76351786" hostid="261" caption="&amp;lt;p&amp;gt;A retailer waits for customers at the otherwise crowded Sarojini Nagar market in Delhi&amp;lt;/p&amp;gt;"></div> Hospitality The hospitality industry which has been one of the worst hit because of the coronavirus pandemic is now betting on “aas paas tourism”. The likes of Mahindra Resorts and OYO are betting on weekend getaways and driving destinations. Now, Airbnb too has joined them. Airbnb has recently launched the ‘Go Near’ campaign – betting on driving destinations. “Key domestic markets for Airbnb are Goa, New Delhi, Rajasthan, Mumbai &amp; Bangalore, but we are also seeing a surge in searches for stay options in nearby cities especially near metros like Alibag, Lonavala, Panchgani near Mumbai,” Airbnb said. Meanwhile, OYO is also seeing a similar positive uptick in bookings. “A significant part of this demand is driven by metro cities, including Gurugram, Noida, Bengaluru, Kolkata and Hyderabad, with a majority of bookings being made by young travellers followed by corporates and SMEs. With most people opting for personal means of transport, bookings trends so far show guests’ preference towards same-city travel. A majority of this traffic is being generated by our own channels - OYO app, website and call centre,” said an OYO spokesperson. Salons and spas Probably one of the most popular YouTube videos during the lockdown became “how to cut your own hair” – while some managed it successfully, others waited for the salons and spas to open again. But not so easily, salons themselves had to go for a makeover before opening up. <div type="image" title="SALON" msid="76351888" hostid="261" caption="&amp;lt;p&amp;gt;People at a salon wearing full PPE kits&amp;lt;/p&amp;gt;"></div> "L’Oréal’s Professional Products Division in India has over 170,000 hairdresser partners, operating in over 45,000 salons. We are strongly mobilised to help our salon partners navigate these challenging times, with the primary objective of ensuring the safety of consumers, our partner salons and their employees. We are committed, now more than ever, to our role as partner and advocate of the hairdressing industry and will continue to work tirelessly to lessen the impact of this crisis on them,” said DP Sharma, director, professional products division of L’Oreal. Meanwhile, as companies like Urban Company too started functioning, they have seen a huge uptick in the number of orders for haircuts and beauty services at home. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mm-share-price-gains-as-ssangyong-dents-fourth-quarter-profit/articleshow/76338292.cms">Mahindra and Mahindra sees a ₹2,700 crore dent from Ssangyong and other global subsidiaries</a> <a href="https://www.businessinsider.in/policy/economy/news/zero-late-fee-for-those-who-have-nil-tax-liability-says-fm-nirmala-sitharaman-in-gst-meeting/articleshow/76338653.cms">40th GST Council meeting highlights – zero late fee for those who have nil tax liability, says FM Nirmala Sitharaman</a>

First week of Unlock 1.0 – Here’s what worked and what didn’t

<ul><li>India’s stock market lost over ₹5 lakh crore (over $70 billion) of investor wealth in the opening minutes of the trade. </li><li>The panic sell-off in the Indian market is the continuation of the carnage seen on Wall Street due to the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> epidemic.</li><li>However, there are a few stocks on the Bombay Stock Exchange (Group A) that are holding out in the green, each for a different reason</li><li>Here’s a look at what’s keeping them strong in the face of the rampage by the bears.</li></ul>India’s stock market is melting and the fear of the coronavirus epidemic has washed away over ₹5 lakh crore (over $70 billion) of market capitalisation in the opening minutes of the trade. The Sensex has lost over a 1,000 points and all its components are in the red. The panic sell-off in the Indian market is the continuation of the carnage seen on Wall Street. However, there are a few stocks on the Bombay Stock Exchange (Group A) that are holding out in the green, each for a different reason. Here’s a look at what’s keeping them strong. 1. DHFL Ironically, bankrupt mortgage financier Dewan Housing Finance (DHFL) is top of the list. The gains have come largely because the company’s lenders have decided the grounds on which the bids for the company will be evaluated, according to a report citing sources. This has stoked hopes of a quicker resolution of the debt and revival of the company. Nearly 24 applicants had submitted expressions of interest (EoI) ⁠— either for the whole company or in parts⁠— to bid for DHFL.The stock is up eight days on the trot. 
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 2. LEMONTREE Interestingly, Lemon Tree Hotels is gaining at a time when, globally, airlines, tourism, hospitality and other travel-related industries are facing a downturn. When there is a disease outbreak, people tend to cut back on travelling. However, the stock had already lost 12% since the start of year. The dent was much more but, in mid-February, the company reported better-than expected earnings driving the stock up for a few days before bears struck again. The cut in goods and services tax (GST) has boosted demand from retail customers, driving average room rate growth, the management told analysts at Motilal Oswal. Not just Lemon Tree, the revenue per available room for the entire hotel industry in India rose to 5.5%, the highest in three quarters. 
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 Lemon Tree Hotels is also investing despite the downturn. It announced its foray into Bhutan with its first hotel in the nation's capital, Thimphu. The mid-priced hotel chain said the entry into Bhutan is through its management subsidiary Carnation Hotels. The property in Thimphu is its second hotel in an international destination, the company said in a regulatory filing. An interesting trend in Lemon Tree is that the stock has bounced from around the ₹52 level at least twice in the last fortnight. Motilal Oswal expects the stock to reach ₹72 a piece in the next one year. 3. NLC INDIA “What really makes money for investors over time—and with- out the hair-raising volatility of hypergrowth stocks—is steady businesses paying regular dividends,” market expert Alexander Green wrote in the foreword to Marc Lichtenfeld’s 2012 book ‘Get Rich With Dividends’. NLC India would fit right into his bucket. The 60-year old Navaratna company has been giving back a bigger chunk of its profits to its investors. Part of the reason is that the company is 81.9% owned by the Government of India and high dividends from state-owned companies help the exchequer manage finances. The benefits to banks, mutual funds, institutional investors, and the general public who own the rest of the stock are just incidental. <table style="width: 306pt;"> <colgroup></colgroup><col /> <col /> <col /> <col /> <tbody><tr> <td class="xl83" style="height:15.0pt;width:103pt">Announcement Date</td> <td class="xl84" style="border-left-width: initial; border-left-style: none; width: 85pt;">Ex-dividend date</td> <td class="xl84" style="border-left-width: initial; border-left-style: none; width: 62pt;">Dividend</td> <td class="xl85" style="border-left-width: initial; border-left-style: none; width: 56pt;">Type</td> </tr> <tr> <td class="xl80" style="height:15.0pt">27-Feb-20</td> <td class="xl81" style="border-left-width: initial; border-left-style: none;">13-Mar-20</td> <td class="xl82" style="border-left-width: initial; border-left-style: none;">11.85%</td> <td class="xl79" style="border-left-width: initial; border-left-style: none;">Interim</td> </tr> <tr> <td class="xl71" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">18-Mar-19</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">26-Mar-19</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">45.30%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">19-Mar-18</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">26-Mar-18</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">42.30%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td class="xl71" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">20-Mar-17</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">24-Mar-17</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">73.40%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">26-May-16</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">7-Sep-16</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">12%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Final</td> </tr> <tr> <td class="xl71" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">25-Feb-16</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">14-Mar-16</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">3%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim 2</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">27-Jan-16</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">11-Feb-16</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">15%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td class="xl71" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">29-May-15</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">8-Sep-15</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">10%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Final</td> </tr> <tr> <td class="xl73" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">12-Feb-15</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">26-Feb-15</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">18%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td class="xl71" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 103pt;">23-May-14</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">11-Sep-14</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">18%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Final</td> </tr> <tr> <td class="xl75" style="height: 15.75pt; border-top-width: initial; border-top-style: none; width: 103pt;">20-Mar-14</td> <td class="xl76" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 85pt;">26-Mar-14</td> <td class="xl77" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 62pt;">10%</td> <td class="xl78" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 56pt;">Interim</td> </tr> <tr> <td colspan="4" class="xl86" style="height:15.0pt">Source: Capital Market</td> </tr></tbody></table> Most recently, the company announced a 11.8% dividend and the stock has shot up ever since on February 27. The stock has shot up since then. Considering the Indian government needs more resources⁠— given the economic slowdown and sluggish tax collections ⁠— other state-owned companies may also dole out high dividends to their masters, benefiting a few investors along the way. 
 
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 4. RAJESH EXPORTS The $2.8 billion company based out of Bengaluru is the world's largest gold refiner and world's only fully integrated entity across the entire value chain of gold. The stock was among the “fastest wealth creators” in the five years between 2014 and 2019, according to a report from Motilal Oswal. The stock appreciated at a compounded growth rate of 49% every year. The stock took a 15% tumble this month before bouncing back the last couple of days. 
 
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 The Company sells everything from gold medallions and gold bullion to jewellery (from handmade to cast to studded). It also retails diamond jewelry through its chain stores under the brand name of SHUBH Jewellers. Its gold products manufacturing, and research and development (R&amp;D) facilities are in Bangalore, Cochin and Dubai, and the refining facility is at Balerna, Switzerland. It has a combined capacity to manufacture approximately 350 tons of gold jewellery and gold products every year, according to Reuters. The Company also operates as a gold refiner with a capacity to refine over 2,400 tons of precious metals per annum. It exports gold jewelry and gold products from Switzerland, India and Dubai. The management has also decided to diversify further. Earlier this month it signed an agreement to set up a manufacturing unit for electric vehicles⁠— investing ₹50,000 crore for manufacturing electric cars and lithium ion batteries for the domestic and overseas markets⁠— in Dharwad, Karnataka. 5. AKZO NOBEL INDIA The fear of a fall in demand due to the coronavirus outbreak has dented crude oil prices. And that has been good news for paint makers for whom crude oil is a key ingredient. Lower crude oil prices tend to widen the profit margin even when the sales are down. The fall in key input prices had helped Akzo Nobel India, which sells the Dulux brand of paints in India, widen its margin by over half a percentage point in the three months ended December 2019. In those three months, the price of Brent Crude went from mid-$50s a barrel to late $60s. Since the start of 2020, Brent crude has slid back to $50 a barrel. “We expect the focus on premium paints to continue, limited investments in commodity products such as putty and correction in input prices to result in EBITDA (earnings before interest, tax, depreciation, and amortisation) margin expansion of 100 basis points over FY20 to FY22,” ICICI Securities said. The stock hit a 52-week high recently and has been firm around that level since. 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/business/news/the-indian-billionaires-who-increased-their-wealth-the-most-in-2019-according-to-hurun-rich-list/articleshow/74382479.cms" data-type="tilCustomLink" target="_blank">The Indian billionaires who increased their wealth the most in 2019 according to Hurun rich list</a> <a href="https://www.businessinsider.in/stock-market/markets/news/sbi-cards-ipo-date-ipo-size-company-data-and-peer-comparison-with-hdfc-bank-icici-bank-and-axis-bank/articleshow/74297734.cms" data-type="tilCustomLink" target="_blank">SBI Cards IPO driving the Indian market crazy⁠— know the company before you invest</a> <a href="https://www.businessinsider.in/personal-finance/news/in-india-you-cant-buy-mutual-funds-from-your-investment-advisor-anymore/articleshow/74295419.cms" data-type="tilCustomLink" target="_blank">In India, you can't buy mutual funds from your investment advisor anymore</a>

DHFL, Akzo Nobel, Lemon Tree and other stocks holding out while the rest of the market is melting

As the second phase of the <keyword id="43573" type="EVENT" weightage="20" keywordseo="General-Election">general election</keyword> takes off in India, voters in 11 states and 1 union territory— West Bengal, Odisha, <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, Maharashtra, Karnataka, Jammu and Kashmir, Uttar Pradesh, Bihar, Chhattisgarh, Assam, Manipur and Puducherry — were up early queuing up at the election booths. Nearly 5 million people are eligible to vote in the state of West Bengal with a nearly equal distribution between men and women, albeit there are only 87 registered third-gender voters in the three constituencies going to vote in the state today today. And Puducherry, while being a union territory, is home to nearly one million voters who have been facing <a href="https://economictimes.indiatimes.com/news/elections/lok-sabha/india/puducherry-congress-tries-to-win-back-sole-mp-seat/articleshow/68899027.cms">increasing</a> debt and a fall in social initiatives due to lower devolution of taxes from the central government. A lot of voters and politicians are wondering if the second phase of polling will be marred with problems of EVM malfunctions and poll booth violence like evidenced during the first phase of the general election in India. Two incidents of poll booth violence have already been reported in West Bengal. In Uttar Pradesh, four of the contesting politicians — Samajwadi Party’s Azam Khan, Union Minister Maneka Gandhi, Chief Minister Yogi Adityanath and Bahujan Samaj Party’s Mayawati — have been <a href="https://www.businesstoday.in/top-story/up-election-2019-after-yogi-mayawati-ec-bans-azam-maneka-from-campaigning/story/337566.html">banned</a> from campaigning by the Election Commission of India (ECI) for issuing controversial comments. For Tamil Nadu, the days leading up to the election were a little chaotic after the Income Tax (IT) department seized over 1,350 kilograms of gold and nearly ₹14.8 million which was allegedly stashed to bribe voters. Elections in Vellore, one of Tamil Nadu’s most-watched constituencies, were cancelled altogether after ₹1.05 million was found at Durai Murugan’s house, the father of Kathir Anand — a DMK candidate in the district. Another ₹115.3 was also found at Poonjolai Srinivasan’s cement godown, a known associate of Murugan. Even Maharashtra hasn’t had an easy go of it with over 15,000 cases of alleged Model Code of Conduct violations <a href="https://www.hindustantimes.com/lok-sabha-elections/lok-sabha-elections-2019-over-15-000-code-of-conduct-cases-filed-in-maharashtra/story-luAZtetS7fq6EUDRsYztmI.html">registered</a> since March 10.The Additional Chief Electoral Officer, Dilip Shinde, has stated that over 700,000 officers and employees of the states are involved in keeping elections in Maharashtra peaceful and efficient for the 10 seats of the state going to the polls today. <div type="ExtQuote" text="The enforcing departments (Income Tax and Police) also lodged total 15,095 FIRs against the offenders for violating the model code of conduct, with most of the cases pertaining to storage and distribution of illicit liquor, followed by possession of firearms." auname="Additional Chief Electoral Officer Dilip Shinde"></div>

 If voters aren’t being bribed, then they’re being threatened. Kawasi Lakhma, a Congress minister from Chhattisgarh, has been <a href="https://www.ndtv.com/india-news/general-elections-2019-chhattisgarh-congress-mla-kawasi-lakhma-threatens-voters-with-electric-shocks-2024279">telling</a> voters that they vote against his party, the EVM machine will deliver an electric shock. While Maharashtra and Tamil Nadu struggle with voter bribery issues, Bihar and Karnataka are more concerned with voter turnout. The city of Bengaluru — the Silicon Valley of India — in particular, has issues of <a href="https://www.businessinsider.in/election-2019-gold-confiscated-in-tamil-nadu-ahead-of-second-phase/articleshow/68933494.cms">voter turnout</a> while Bihar’s <a href="https://www.livemint.com/elections/lok-sabha-elections/bihar-elections-2019-patna-is-missing-a-whole-generation-of-millennials-1555350536677.html">brain drain</a> means that a lot of its eligible millennial voters don’t actually live in the state anymore. As Manipur goes to polls again, the Returning Officer (RO)The Returning Officer (RO) of the Outer Manipur Parliamentary Constituency, Haobam Rosita, has <a href="https://www.newsclick.in/returning-officer-recommends-re-poll-19-polling-stations-manipur">recommended</a> that re-polling needs to take place at 19 of the polling stations from the first phase of the general elections in the state. Among the many reasons that Rosita cites for repolling, the most disturbing is probably one of the constituencies showed that voter turnout in excess of 100% and that the polling booth for the Najang Village was put up at a non-designated location. In order to keep disruptive elements from affecting the polls similarly, the west Indian states of West Bengal and Assam are <a href="https://timesofindia.indiatimes.com/city/patna/2nd-phase-tight-security-in-five-election-bound-districts/articleshow/68868180.cms">increasing</a> security in constituencies along the border — especially in districts classified as ‘vulnerable’ and ‘critical’. And unfortunately, for Jammu and Kashmir, none of the contesting political parties are talking about the environmental issues which have a heavy bearing on the state’s water supply as well as its tourism industry, which has been suffering as more and more of the state’s green capital is being destroyed. The third phase of the general election will kick off on April 23 covering 14 states — Assam, Goa, Karnataka, Odisha, Dadra and Nagar Haveli, Bihar, Gujarat, Kerala, Uttar Pradesh, Daman and Diu, Chhattisgarh, Jammu and Kashmir, Maharashtra and West Bengal. See also: <a href="https://www.businessinsider.in/election-2019-gold-confiscated-in-tamil-nadu-ahead-of-second-phase/articleshow/68933494.cms">Over a ton of gold seized a day ahead of polls shows the depth of the rot in Tamil Nadu</a> <a href="https://www.businessinsider.in/job-losses-will-haunt-bengaluru-indias-silicon-valley-as-it-goes-to-polls-today/articleshow/68930893.cms">Job losses will haunt Bengaluru, India’s Silicon Valley, as it goes to polls today</a> <a href="https://www.businessinsider.in/lok-sabha-elections-2019-second-phase-of-polling-in-tamil-nadu-voters-issues/articleshow/68930595.cms">Tamil Nadu’s angry voters have a small oil field, a big highway, a medical entrance test, and a police shootout in mind</a>

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