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<ul><li>It was a tepid debut for the ₹4,634 crore (about $634 million) IPO of IRFC on the bourses today.</li><li>The stock listed at ₹25, which is at an 4.23% discount to the set price band at ₹25-26 per share.</li><li>The ₹4,634 crore share sale concluded with the subscription of little over 3 times the offer value on January 20.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>It was a tepid debut for the ₹4,634 crore (about $634 million) IPO of the borrowing arm for the Indian Railways, IRFC on the bourses today. The stock listed at ₹24.90, which is at an 4.23% discount to the set price band at ₹25-26 per share. Within minutes after listing, the shares of IRFC lost nearly 4.42% of their value and were trading at ₹24.85 apiece at 10:10 am in an otherwise robust market. <div type="image" title="IRFC share" msid="80557089" hostid="261"></div> Subdued listing was on the cards! Despite the <keyword id="8598910" type="UNKNOWN" weightage="20" keywordseo="IRFC-IPO">IRFC IPO</keyword> garnering a decent response at the time of subscription, its grey market premium fizzled out. The premium fell from 7% on day one to 2% today — all thanks to the recent correction, when the benchmark index Sensex plunged nearly 3,000 points in mere 5 days. The ₹4,634 crore share sale concluded with the subscription of little over 3 times the offer value on January 20. Even brokerages which gave it a “subscribe” rating advised investors to see it with a long-term investment horizon. The analysts believe that the IPO was attractively priced and the company has a strong business outlook, which can mint great money for the investors in the long term. “Looking at the strong business profile of the company, but with limited growth aspects, we give Subscribe rating for long term. That said, we are not expecting any major negative movement for the stock after listing,” said Astha Jain at Hem Securities. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/priyanka-chopra-jonas-makes-another-tech-investment-this-time-in-us-based-rental-marketplace-apartment-list/articleshow/80554158.cms" data-type="tilCustomLink">Priyanka Chopra Jonas makes another tech investment – this time in US-based rental marketplace Apartment List</a>

India’s first IPO listing of 2021 IRFC lists at 4% discount over issue price

<ul><li><keyword id="8598910" type="UNKNOWN" weightage="20" keywordseo="IRFC-IPO">IRFC IPO</keyword> will open on January 18 and remain open till January 20. This makes it the first IPO to hit the capital markets in 2021. </li><li>The company has set the price band of the issue in the range of ₹25-26 per share.</li><li>An investor can apply for a minimum bid of 575 equity shares and in multiples thereafter. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The ₹4,634 crore initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) initial public offering (IPO) will hit the capital markets next week. The IPO will open on January 18 and remain open till January 20, making it the first IPO of 2021. It is also the first by a non-banking financial company in the public sector. The company has set the price band of the issue in the range of ₹25-26 per share of the face value of ₹10 each. The IPO comprises a fresh issue of 59.43 crore equity shares and offer-for-sale of up to 118.80 crore shares. Indian Railway Finance Corporation opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 18 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 20 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹25-26 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">575 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Once the IPO is concluded, the shares are likely to hit the bourses on January 29. The equity shares will be listed on both the exchanges — BSE and NSE. DAM Capital Advisors, HSBC Securities and Capital Markets, ICICI Securities and SBI Capital Markets are the lead managers for its initial public offering (IPO). Indian Railway Finance Corporation IPO: All you need to know <ul><li>The company’s primary business is financing the acquisition of Rolling Stock Assets and Project Assets of the Indian Railways and lending to other entities under the Ministry of Railways.</li><li>IRFC is registered with the Reserve Bank of India as an NBFC and is classified under the category of an ‘Infrastructure Finance Company’ of the Reserve Bank of India Act. And, IRFC IPO will be the first by a non-banking financial company (NBFC) in the public sector.</li><li>It is worth noting that IRFC will not receive any proceeds from the offer for sale and the same will go to the Government of India, the promoter of the company.</li><li>The grey market premium suggests an upside of <a href="https://www.ipowatch.in/2020/12/irfc-ipo-gmp-grey-market-premium-today.html">₹1-2</a> for the price band set at ₹25-26 per share. </li></ul>SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2021-may-be-an-opportunity-to-help-indian-electric-vehicles-to-compete-with-elon-musks-tesla/articleshow/80243751.cms" data-type="tilCustomLink"> India needs Elon Musk’s Tesla as well as local electric cars to compete⁠ — here’s what Finance Minister’s Budget 2021 may do</a> <a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms" data-type="tilCustomLink">Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding</a><a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms" data-type="tilCustomLink"></a>

IRFC, India’s first IPO of 2021, kicks off on January 18 — price band set at ₹25-26

<ul><li>The basis of allotment for ₹4,634 crore initial public offering (IPO) of <keyword id="108191" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Finance-Corporation">Indian Railway Finance Corporation</keyword> (<keyword id="153053" type="COMPANY" weightage="20" keywordseo="IRFC">IRFC</keyword>) will be announced Tomorrow (January 25).</li><li>The borrowing arm’s IPO for the Indian Railways clocked in a decent response from investors on the last day of subscription.</li><li>Here’s how to check Indian Railway Finance Corporation IPO allotment status on registrar website and stock-exchanges. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/budget">Budget 2021 on Business Insider</a>.</li></ul>The basis of allotment for ₹4,634 crore initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) will be announced on Tomorrow (January 25). The IPO of the borrowing arm for the Indian Railways clocked in a decent response from investors on the last day of subscription — the issue was subscribed a little over 3 times the offer value. This was the first initial public offer this year and the first-ever IPO by a non-banking financial company in the public sector. According to data from the stock-exchanges, the issue from the government-owned company received bids for 4.3 billion equity shares against the offered size of 1.2 billion equity shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IRFC IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer size </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">356 million </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">267 million </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">623 million </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">192 thousand </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.247 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.57x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.61x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.43x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39.53x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.09x </td></tr></tbody></table> The listing is scheduled for January 29, and equity shares will be listed on both the exchanges — BSE and NSE. Here’s how to check Indian Railway Finance Corporation IPO allotment status: If you have bid for the Indian Railway Finance Corporation IPO, you can check your allotment status by following these simple steps: To check on the stock-exchange website: <ul><li>To check the Indian Railway Finance Corporation IPO allotment status, go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE website</a> or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a>.</li><li>On BSE, Select ‘Equity’ and then from the dropdown, select ‘Indian Railway Finance Corporation.’ </li><li>Now, enter your application number and PAN.</li><li>Hit ‘Search’.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the Registrar website (KFintech Private Limited) to check your application status. <ul><li>Since KFintech Private Limited is the registrar for Indian Railway Finance Corporation IPO, you can visit their website <a href="https://kosmic.kfintech.com/ipostatus/">here</a>.</li><li>Click on ‘Company selection’ and click on ‘Indian Railway Finance Corporation-IPO.’ It will only appear post allotment on October 27.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.</li><li>Enter the captcha and click ‘submit.’ </li></ul>Your application status will appear on the screen once you click ‘submit.’ Please make sure the details you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/us-new-president-joe-biden-will-oppose-new-delhis-5-5-billion-deal-with-russia-for-the-s-400-missile-as-per-washington-d-c-based-expert/articleshow/80382062.cms" data-type="tilCustomLink">INTERVIEW: Joe Biden may be as harsh as Donald Trump if India insists on buying S-400 missiles from Russia, says a Washington D.C-based expert</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finances-1153-crore-ipo-has-opened-as-markets-hope-budget-will-push-for-affordable-housing/articleshow/80381788.cms" data-type="tilCustomLink">Warburg Pincus-backed Home First Finance’s ₹1,153 crore IPO has opened as markets hope budget will push for affordable housing</a>

Indian Railway Finance Corporation IPO allotment: Here’s how to check share allotment status

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty50 hit a new all-time high on the second consecutive day, extending the gains to the sixth consecutive day.</li><li>Reliance Industries, ICICI Bank and HDFC twins were amongst the most active stocks on Tuesday.</li><li>In the last five trading sessions, Sensex has gained 1.91%, while Nifty50 has gained 1.69%.</li><li>ICICI Bank, IRFC, RVNL, Britannia Industries were amongst the stocks touching new 52-week highs on Tuesday.</li></ul>Sensex and Nifty50 hit a new all-time high on the second consecutive day, extending the winning streak to the sixth consecutive day. Reliance Industries, ICICI Bank and HDFC twins were amongst the most active stocks on Tuesday, while IRFC zoomed 6% to close the day at a new 52-week high. Both the benchmark indices overcame the<a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-ndtv-mm-lt-among-stocks-to-watch-out-for-on-tuesday/articleshow/95843779.cms"> early morning weakness</a> to scale new highs – while the Sensex touched a new high of 62,887 on intraday basis, Nifty50 scaled 18,678. The 30-stock Sensex closed the day at 62,681, up 0.28%, while the 50-stock Nifty50 closed at 18,618, up 0.3%. Both the indices closed the day at a record high. In the last five trading sessions, Sensex has gained 1.91%, while Nifty50 has gained 1.69%. Amongst the most active stocks in the Nifty50 index today were Reliance Industries, ICICI Bank, HDFC Bank, HDFC, and Hindustan Unilever. All in all, sixteen stocks hit fresh 52-week highs during the day, including ICICI Bank, Britannia, Apollo Tyres, Bank of India, Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam Limited (RVNL), among others. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The New India Assurance Company </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.79% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Laurus Labs </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.27% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Pharma </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.75% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Allcargo Logistics </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.91% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Greenpanel Industries </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.61% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Holdings </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.80% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur India </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.51% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aegis Logistics </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.56% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.36% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elgi Equipments </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.52% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, Nifty500, as at November 29, 2022 “Nifty made fresh all-time highs on November 29, aided by positive Asian cues. Encouraging news from China has resurrected sentiments in Asia. Beijing rolled out more stimulus measures, while social media rumours suggested that the Chinese government was considering the scaling back of its anti-Covid policies,” said Deepak Jasani, head of retail research, HDFC Securities. Amongst the top sectoral gainers today were FMCG, metals and pharma, while PSU banks, auto and realty closed the day in red. Rupee posted a marginal decline of 6 paise against the US Dollar, hovering around 81.72. Foreign institutional investors (FII) were net buyers on Tuesday, ploughing in ₹1,242 crore, while domestic institutional investors (DII) sold equities worth ₹744 crore. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/new-age-tech-companies-rake-in-business-but-are-still-making-losses/articleshow/95837559.cms">New-age tech companies rake in business but are still making losses</a> <a href="https://www.businessinsider.in/business/news/people-ready-to-pay-15-20-premium-for-health-and-wellness-amenities-in-housing-properties-dhaval-ajmera/articleshow/95832362.cms">Home buyers ready to pay 15-20% premium for health and wellness amenities: Dhaval Ajmera</a> <a href="https://www.businessinsider.in/business/auto/news/mixed-demand-trends-for-autos-in-november-as-festive-boost-wears-off-but-signs-of-rural-recovery-visible/articleshow/95848505.cms">Mixed demand trends for autos in November as festive boost wears off but signs of rural recovery visible</a>

Sensex, Nifty50 hit new all-time high yet again – RIL, HDFC twins amongst most active stocks, IRFC surges 6%

<ul><li>Benchmark indices slipped into red from green right after the Budget speech.</li><li>The <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">finance minister</keyword> increased FY25 capex outlay by 11.1%.</li><li>Rail stocks which have been buoyant in the morning trade, slipped into the red. </li></ul>Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> increased the capex outlay for FY25 by 11.1% to ₹11.11 lakh crore in her interim budget speech on Thursday. The benchmark indices opened in the green in the morning, and have been volatile ever since the speech concluded. As of 12:30 pm, indices were flat with <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> down by 43 points, and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> down by over 13 points. Railway stocks like Jupiter Wagons, IRCON, IRFC which have been trading higher in the morning also slipped into red right after the speech. PayTM stock fell by 19.9% after the RBI barred it from accepting deposits on Wednesday. Nifty Bank too has been volatile, Nifty Midcap has been down by 1.3% since the markets opened. Maruti Suzuki, Power Grid, Cipla, M&amp;M and TCS are top gainers on Nifty, while Dr Reddy, ONGC, Ultratech Cement, L&amp;T and Grasim were the top losers. US benchmark indices closed in the red on Wednesday, after the Fed issued a slightly hawkish guidance on interest-rate cuts at its latest policy meeting. Tech heavy Nasdaq tumbled by over 2% after disappointing earnings from Google parent, Alphabet. Indian stock markets have been waxing and waning at regular intervals for the last eight sessions, ahead of the budget. Experts say that markets are unable to find a direction ahead of the ‘vote-on-account’ budget. Experts believe that the impact of the Union Budget on the equity market has reduced notably over the past few years. All the same they hope for a few announcements. “Even though the interim Budget is expected to be largely a vote on account with ‘no sensational announcements’ the PM’s statement yesterday that it will be a ‘blueprint of intent’ has aroused expectations that there will be some significant indications of what is likely to come in the full Budget and beyond,” Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Hopes for a capex push Investors were hoping that the government will provide impetus to key policy reforms such as Atmanirbhar Bharat, Make in India, and the PLI scheme in FY25. After capex expanded by 35% last year, most expected a 10-12% rise in capex this year. Its focus is likely to continue to be on infrastructure like roads, water, metro, railways, defense, digital infrastructure, and green technologies. “We expect key policy reforms, such as Atmanirbhar Bharat, Make in India, and the PLI scheme, to continue and receive further impetus in FY 25. There may be an increased emphasis on power, utilities, and renewables. Railways, infrastructure, and capital goods companies are poised to remain in the spotlight with higher capex spending,” says Pranav Haridasan, MD and CEO, Axis Securities. Driving the rural economy The government was also expected to give the rural economy a much needed push as it’s not fully recovered from the pandemic. Particularly because buoyant tax collections have kept India’s fiscal situation of FY24 in a good stead. “We expect the government to stick to its path of fiscal consolidation, without compromising on quality of expenditure. In the wake of weaker monsoon and pressure seen in Rabi sowing season, focus will be on providing support to rural growth. Important schemes such as PM-KISAN, MGNAREGA, Housing for all, free food grains, will continue to hold significant importance,” said Sonal Badhan, economist at Bank of Baroda. If the rural economy gets a boost, it will be a positive for FMCG majors like HUL, Marico, Dabur whose volume growth has been sluggish for the last few quarters. It will also aid Hero Motocorp, M&amp;M, Bajaj and other auto players. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[1) 2) ]]></cdata></div>

Interim Budget: Sensex, Nifty trade flat as FM’s speech concludes

<a href="http://www.businessinsider.in/searchresult.cms?query=retail+investors">Retail investors</a>, who have been looking to get good returns, here’s some good news for you. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=state-run+companies">State-owned companies</a> like Indian Railways Finance Corporation (IRFC), <a href="http://www.businessinsider.in/searchresult.cms?query=National+Highways+Authority+of+India+">National Highways Authority of India</a> (NHAI) and Housing &amp; Urban Development Corporation (HUDCO) are rolling out tax-free bonds of around Rs 18,000 crore! 
 
The collective <a href="http://www.businessinsider.in/searchresult.cms?query=tax-free+bonds">tax-free bonds</a> will be out over next month. 
 
This will trigger rush to buy these bonds as people could not buy it earlier. 
 Reportedly, IRFC will roll out bonds worth Rs 4,532 crore at retail <keyword id="6371181" type="UNKNOWN" weightage="20" keywordseo="interest-rates">interest rates</keyword> of at least 7.30% for at least 10-year maturities. 
 
HUDCO will sell around Rs 3,500 crore of tax-free bonds, whereas NHAI will roll out nearly Rs 10,000 crore tax-free bonds. 
 
"Large issue size will help investors to lock in at attractive rates over a long period with tax efficiency. Most investors, especially retail, didn't get the desired allotment in tax-free issuances a few weeks ago due to small issue sizes," Ajay Manglunia, head of fixed income at Edelweiss Securities, told ET. 
 
Industry experts point out that individuals nearing retirement would buy such bonds as they are safe also to invest for they are state-run firms. 
 
(Image: Thinkstock)

Government-run companies are rolling out tax-free bonds of Rs 18,000 crore collectively!

<ul><li>Investors rushed to Zerodha as two exciting IPOs⁠— from IRFC and Indigo Paints⁠— were open for subscription.</li><li>CEO Nithin reportedly admitted that the systems were down for a bit, but not completely crashed.</li><li>Zerodha has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020, and is the largest institutional broker in the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India's largest institutional broking firm Zerodha’s platform crashed during the peak market hours on Wednesday, as users rushed to place orders for the two hot initial public offers in the market — Indian Railway Finance Corporation and Indigo Paints. Furious investors complained on Twitter as the website restricted them from applying for the IPOs. Zerodha currently owns the largest share of the pie in the institutional broking industry and has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020. Zerodha’s CEO Nithin Kamath <a href="https://economictimes.indiatimes.com/tech/tech-bytes/users-complain-of-zerodha-outage-as-indigo-paints-ipo-opens/articleshow/80362725.cms">told ET</a> that the systems were down for a bit, but not completely crashed. “Multiple tries would have worked. The IPO has a lot of people trying to apply at the same time. It is slow, but working,” he added. Business Insider reached out to Zerodha for comments but we are yet to receive a response. <div type="twitter" handle="real_manikant" handlename="Manikant" image="http://pbs.twimg.com/profile_images/1348894458952130561/HZ-T19JA_normal.jpg" favoritecount="66" retweetcount="6" status="Come on #zerodha. This is not the first time it's happening. Since morning the Console is down. What are you guys d… https://t.co/3gXgQomop8" createdat="1611128077000" id="1351795251791319041"></div> <div type="twitter" handle="1Riteshgupta_" handlename="Ritesh" image="http://pbs.twimg.com/profile_images/1285920568768737280/v3_ytfeX_normal.jpg" favoritecount="1" retweetcount="0" status="@Nithin0dha @zerodhaonline why I can't buy / trade in bank nifty 33000 strike this week option contract. Very bad e… https://t.co/H4RShEBgre" createdat="1611137187000" id="1351833460512493568"></div> <div type="twitter" handle="Kishore64653096" handlename="Kishore K" image="http://pbs.twimg.com/profile_images/1193798534308364290/KCbNIV_i_normal.jpg" favoritecount="3" retweetcount="1" status="#zerodha completely disappointing on emergency situations. Not for the first time https://t.co/vrA29M2XPe" createdat="1611142108000" id="1351854099558330370"></div> According to the <a href="https://downdetector.in/status/zerodha/">Down Detector website</a>, the outage peaked around 11:15 am and normalised around 5 pm, when the market closed for IPO subscription. Hot bets — IRFC and Indigo Paints The investors have been going crazy as the IPO bonanza has lit up the street once again. The <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC’s ₹4,634 crore IPO </a>concluded today with a subscription of a little over 3 times the offer value, and at the same time, Indigo Paints’ ₹1000 crore IPO opened for public subscription — the issue was subscribed fully within a few hours. Both the IPO received top recommendations from nearly all brokerages based on various factors from strong valuation to robust business growth and healthy financials. The<a href="https://www.businessinsider.in/stock-market/news/indigo-paints-1000-crore-ipo-to-open-on-january-20-in-india/articleshow/80248736.cms"> Indigo Paints’ IPO was hot in the grey market</a>, even before opening for public subscription. The grey market data showed that people were ready to pay a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Two smoking hot IPOs choke India's largest broking site Zerodha

<ul><li>The offer for sale has opened for non-retail investors today. </li><li>The government is planning to sell up to 20% stake in the company. </li><li>The floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. </li></ul>The shares of <keyword id="3219311" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corp">Indian Railway Catering and Tourism Corp</keyword> (IRCTC) plunged over 8% in morning trade as the two-day offer for sale (OFS) gets underway. The government is planning to sell up to 20% stake in the company. The OFS has opened for non-retail investors today. Floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. <div type="image" title="ITC Share price (1)" msid="79656890" hostid="261"></div> The promoter proposes to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15% stake, with an option to additionally sell 80,00,000 shares, representing 5% of the total issued and paid up equity share capital, the company said in a regulatory filing. "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. Shares of IRCTC on Wednesday closed at Rs 1,618.05 apiece on the BSE, down 1.55 per cent from its previous close. In all, the promoter Government of India will sell 3.2 crore shares, which is expected to garner Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis. <keyword id="9901399" type="UNKNOWN" weightage="20" keywordseo="IRCTC-ofs">IRCTC OFS</keyword> will help the government inch forward in meeting the Rs 2.10 lakh crore disinvestment target. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sale in financial institutions. The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, the government has to lower its stake in the company to 75 per cent. IRCTC, the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India, was listed on the stock exchanges in October 2019. The company had raised Rs 645 crore through the IPO. The Union Cabinet had in April 2017 approved listing of five railway companies. While four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and IRTC -- have already been listed, IRFC is likely to be put on the block this fiscal. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

IRCTC tumbles 8% as government's 20% stake sale through OFS begins

Lucknow, An FIR has been lodged here against the makers of web series 'Tandav' and <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s India head of original content for allegedly depicting Hindu gods in a manner hurtful to <keyword id="522164" type="PERSON" weightage="20" keywordseo="religious-sentiments">religious sentiments</keyword> of the people. The FIR against Aparna Purohit, the head of Amazon's India head of original content, director of the series Ali Abbas, producer Himanshu Krishna Mehra, writer Gaurav Solanki, and an unknown person was lodged late on Sunday night by senior Sub Inspector Amar Nath Yadav at the Hazratganj Kotwali police station here. The film starring <keyword id="333" type="PERSON" weightage="20" keywordseo="Saif-Ali-Khan">Saif Ali Khan</keyword>, Dimple Kapadia, Sunil Grover, Tigmanshu Dhulia, <keyword id="5894" type="PERSON" weightage="20" keywordseo="Dino-Morea">Dino Morea</keyword>, Kumud Mishra, Mohd Zeeshan Ayyub, <keyword id="327" type="PERSON" weightage="20" keywordseo="Gauhar-Khan">Gauhar Khan</keyword> and <keyword id="140105" type="PERSON" weightage="20" keywordseo="Kritika-Kamra">Kritika Kamra</keyword>, premiered on the streaming platform on Friday. Taking to Twitter, BSP President Mayawati called for removing the objectionable content from the web series. Protests are being registered against some scenes hurting the religious and ethnic sentiments in the Tandav web series, in respect of which it would be appropriate to remove whatever is objectionable so that the atmosphere of peace, harmony and mutual brotherhood in the country is not spoiled anywhere, she said. According to the FIR, following public outrage expressed on social media platforms, the web series was viewed and it was found in the 17th minute of the first episode of the series that Hindu gods and goddesses have been allegedly presented in an "undignified manner' and shown using language which is hurtful to religious sentiments. Dialogues in the web series can incite caste anger, the FIR stated. It also alleged that the person occupying the high post of Prime Minister of India has been portrayed in a very belittling manner besides there are scenes in which castes have been presented as low and high and women in an insulting manner. The FIR further alleged that intent of the web series is to incite religious sentiments of a particular community and create enmity among classes.This act of the producer-director has hurt and incited religious and caste sentiments of the people, the FIR added. The FIR has been lodged under sections 153 A (promoting enmity between different groups on grounds of religion, race, place of birth, residence, language), 295 (injuring or defiling place of worship with intent to insult the religion of any class), 505 (1) (B) (statements conducing to public mischief with intent to cause, or which is likely to cause, fear or alarm to the public, or to any section of the public whereby any person may be induced to commit an offence against the State or against the public tranquility) and 469 (forgery for purpose of harming reputation) along with sections of the IT Act. Taking cognizance of complaints that Hindu gods and goddesses have been ridiculed in the web series, the Ministry of Information and Broadcasting had on Sunday sought an explanation from <keyword id="10265015" type="UNKNOWN" weightage="20" keywordseo="streaming-platform-amazon-prime-video">streaming platform Amazon Prime Video</keyword> on the issue, sources had said. The development came after BJP MP Manoj Kotak on Sunday said he has written to Information and Broadcasting Minister <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword> seeking a ban on Amazon Prime Video's series 'Tandav' for ridiculing Hindu deities. "The ministry has taken cognizance of the matter (complaints) and asked Amazon Prime Video to explain," a source in the ministry had said. Kotak, the MP from Mumbai North-East, said different organisations and individuals have complained that Hindu gods and goddesses have been ridiculed in the 'Tandav' web series. When contacted about the complaints, Amazon Prime Video PR had said the platform "won't be responding" on the matter. The government recently brought OTT platforms such as Netflix, Amazon Prime Video and Disney+ Hotstar, besides other online news and current affairs content, under the ambit of the Ministry of Information and Broadcasting, giving it powers to regulate policies and rules for the digital space. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-indian-railway-finance-corporation-irfc-ipo/articleshow/80327303.cms">How to apply for IRFC IPO? Check the details and online application process here</a> <a href="https://www.businessinsider.in/business/startups/news/cure-fit-strengthens-its-us-offering-by-acquiring-digital-trainer-and-workout-app-onyx/articleshow/80326857.cms">Cure.fit strengthens its US offering by acquiring digital trainer and workout app Onyx</a>

Tandav controversy - FIR filed against the show's director and Amazon India head of content in UP

Seoul, <keyword id="61562" type="COMPANY" weightage="20" keywordseo="LG-Electronics">LG Electronics</keyword> on Friday said it posted record earnings in the <keyword id="111300" type="PERSON" weightage="20" keywordseo="fourth-quarter">fourth quarter</keyword> of 2020 on robust home appliance <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword> but its <keyword id="656486" type="ORGANIZATION" weightage="20" keywordseo="Mobile-Business">mobile business</keyword> remained in red amid reports of the company existing the smartphone market. LG's mobile business unit logged 248.5 billion in <keyword id="827903" type="PERSON" weightage="20" keywordseo="operating-loss">operating loss</keyword> in the fourth quarter, improving from a loss of 332.2 billion won a year earlier. The unit's sales increased 4.9% on-year to 1.38 trillion won. For the whole 2020, its operating loss totaled 841.2 billion won, which reflected increased marketing costs to support its flagship devices. The mobile business of LG Electronics has been in the red since the second quarter of 2015. Its accumulated operating loss reached nearly $4.5 billion last year and now, the South Korean company has said it will closely review the direction of its business. Overall, the South Korean tech giant logged a net profit of 262.3 billion won (US$233 million) in the October-December period, swinging from a net loss of 849.8 billion won a year ago. For the whole of 2020, LG Electronics posted a tenfold increase in its net profit to 2 trillion won. Operating profit surged 31.1% on-year to 3.2 trillion won, while sales inched up 1.5 percent on-year to 63.2 trillion won. LG's record-setting performance was anchored by its home appliance &amp; air solution (H&amp;A) unit, reports Yonhap news agency. The H&amp;A unit logged sales of 5.54 trillion won, up 20 percent from a year ago, while operating profit more than doubled to 299.6 billion won in the October-December period, both largest for a fourth quarter. LG said double-digit sales growth in <keyword id="5565" type="LOCATION" weightage="20" keywordseo="South-Korea">South Korea</keyword>, North America and <keyword id="28249" type="LOCATION" weightage="20" keywordseo="europe">Europe</keyword>, as well as its improved costs management, pushed up the bottom line of its main business. Its H&amp;A unit also posted record yearly performance with sales of 22.27 trillion won and operating profit of 2.35 trillion won in 2020. It also marked a two-digit operating margin for the first time at 10.6 percent. LG's home entertainment unit, which manages the TV business, saw fourth-quarter sales of 4.28 trillion won, up 7.9 percent from a year ago. Operating profit jumped 103.5% on-year to 204.5 billion won. Both mobile communications (MC) and vehicle component solutions (VS) units stayed in the red but managed to trim their operating losses from a year ago. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/glee-s-t-january-2021-gst-collection-may-have-beat-the-december-record/articleshow/80512714.cms">Glee.S.T! January 2021 GST collection may have beat the December record</a> <a href="https://www.businessinsider.in/business/startups/news/kavin-mittal-hike-looks-to-hire-computer-science-it-graduates-from-iits-nsit-nits/articleshow/80560643.cms">Kavin Mittal’s Hike looks to hire computer science, IT graduates from IITs, NSIT, NITs</a> <a href="https://www.businessinsider.in/budget/news/airlines-want-budget-2021-to-lower-jet-fuel-price-and-parking-charges/articleshow/80561951.cms">Airlines want budget 2021 to lower jet fuel price and parking charges</a> <a href="https://www.businessinsider.in/stock-market/news/indias-first-ipo-listing-of-2021-irfc-lists-at-4-discount-over-issue-price/articleshow/80557304.cms?upcache=2">India’s first IPO listing of 2021 IRFC lists at 4% discount over issue price</a>

LG posts robust home appliance sales, mobile biz in deep red

<ul><li>Mrs Bector’s Food Specialities is all set to float its ₹540 crore initial public offering (IPO) on December 15. </li><li>The company is the largest supplier of buns in India to reputed QSR chains such as Burger King India, Connaught Plaza Restaurants, Hardcastle Restaurants, and more.</li><li>Price band for the IPO has been set at ₹286-288, and the issue will close on December 17.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>A premium biscuit-maker and leading supplier of buns to fast-food chains like Burger King and McDonald's, Mrs Bector’s Food Specialities is all set to float its ₹540 crore initial public offering (IPO) on December 15. The company manufactures and markets a range of products such as biscuits, bread and buns. It also markets a wide variety of bakery products under its flagship brand "Mrs Bector's Cremica" and the "English Oven". Mrs Bector's Foods IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 17 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹286-288 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr></tbody></table> Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. Company plans to use the IPO proceeds for financing the project cost towards its Rajpura expansion project by establishing a new production line for biscuits and for general corporate purpose. Once the IPO is concluded, the shares are likely to hit the bourses on December 28. The equity shares will be listed on both the exchanges — BSE and NSE. SBI Capital Markets, ICICI Securities and IIFL Securities are the lead managers for its initial public offering (IPO). Mrs Bector’s Food: All you need to know <ul><li>ITC, Britannia Parle are the key rivals for Mrs Bector's Food in the biscuits and bakery products segment.</li><li>The company is the largest supplier of buns in India to reputed QSR chains such as Burger King India, Connaught Plaza Restaurants, Hardcastle Restaurants, and Yum! Restaurants and many more.</li><li>The company has six manufacturing facilities located in Phillaur and Rajpura (Punjab), Tahliwal (Himachal Pradesh), Greater Noida (Uttar Pradesh), Khopoli (Maharashtra) and Bengaluru (Karnataka).</li><li>The company’s net profit has seen a stellar growth of 282.18% from September 30, 2019 to September 30, this year, it said in its RHP. </li><li>The Indian biscuits and bakery retail market is valued at ₹ 450.00 billion and is expected to grow at a CAGR of approximately 9% over the next five years.</li></ul>IPO rush continues The IPO of Mrs Bectors Food Specialities is the latest to come out with a public offering this year, which has seen 13 IPOs so far. The recently concluded IPO of Burger King, saw a stellar response from investors — making it the second most subscribed IPO this year with a subscription of 156.65 times. However, Mrs Bector’s Food might not be the end of IPOs this year — IRFC to RailTel and many more are on the anvil. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

McDonald’s and Burger King supplier Mrs Bector's Foods to launch ₹540 crore IPO on December 15

<ul><li>In a year where the country hopes to recover from the coronavirus pandemic, the onus will be on Nirmala Sitharaman to bring much needed relief for sectors, while also ensuring that the economy bounces back. </li><li>From bringing back jobs in the market to tax deductions, there are a lot of expectations from <keyword id="8420431" type="UNKNOWN" weightage="20" keywordseo="budget-2021">Budget 2021</keyword>.</li><li>According to reports, India's Defence Budget could also see a hike to hit total allocations of ₹6 lakh crore.</li><li>Here are the major changes that could come with the <keyword id="10270141" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2021">Union Budget 2021</keyword>.</li></ul>India’s Finance Minister Nirmala Sitharaman is set to announce the annual budget on February 1, 2021 – paperless for the first time in the history of India. And in a year where the country hopes to recover from the coronavirus pandemic that ravaged almost every other sector, the onus will be on Sitharaman to bring much needed relief for people as well as sectors that need budgetary support to recover. Ahead of the Budget session of the Parliament, mandatory RT-PCR tests will be done on all the members and the question hour too is set to make a comeback. The Budget session is set to start on January 29, 2021. And here are the major changes that could reportedly come up with the <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> 2021. <cmsannotation type="cmsannotation" annotationid="Income tax deductions" comment="subhead" text="Income tax deductions">Income tax deductions</cmsannotation> With thousands having lost their jobs, and many more having had to undergo a salary cut across the country due to the COVID-19 pandemic, Sitharaman might be looking at possible ways to put more disposable income in the hands of the people. According to <a href="https://economictimes.indiatimes.com/news/economy/policy/middle-class-set-to-gain-from-higher-tax-deductions-likely-in-budget-2021/articleshow/80264633.cms">reports,</a> Budget 2021 might take forward the relief announced with the Atma Nirbhar package with the basic tax exemption limit for an individual being raised to ₹5 lakh from the current ₹2.5 lakh. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income Tax Slab </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;">Tax rates - new regime </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;">Tax rates - old regime </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;">₹0 - ₹2,50,000 </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;">Nil </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;">Nil </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;">₹2,50,001 - ₹ 5,00,000 </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;">5% </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;">5% </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;">₹5,00,001 - ₹7,50,000 </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;">₹12500 + 10% of total income exceeding ₹5,00,000 </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;">₹12500 + 20% of total income exceeding ₹5,00,000 </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;">₹7,50,001 - ₹10,00,000 </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;">₹37500 + 15% of total income exceeding ₹7,50,000 </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;">₹62500 + 20% of total income exceeding ₹7,50,000 </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;">₹10,00,001 - ₹12,50,000 </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;">₹75000 + 20% of total income exceeding ₹10,00,000 </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;">₹112500 + 30% of total income exceeding ₹10,00,000 </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;">₹12,50,001 - ₹15,00,000 </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;">₹125000 + 25% of total income exceeding ₹12,50,000 </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;">₹187500 + 30% of total income exceeding ₹12,50,000 </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;">Above ₹ 15,00,000 </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;">₹187500 + 30% of total income exceeding ₹15,00,000 </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;">₹262500 + 30% of total income exceeding ₹15,00,000 </td></tr></tbody></table> Until now, while the Modi government has pushed for a rebate on all payable taxes, the basic tax exemption limit has remained the same. The report also said that a higher standard deduction (salary that is not subject to income tax) could also be on the way – from the current ₹50,000 to ₹75,000-₹1,00,000. The government could also be planning a <a href="https://www.businessinsider.in/budget/news/india-may-be-considering-a-covid-cess-on-high-income-earners-aside-from-more-levy-on-fuel/articleshow/80208520.cms">COVID cess </a>on high income earners. <cmsannotation type="cmsannotation" annotationid="Defence Budget to get a massive hike" comment="subhead" text="Defence Budget to get a massive hike">Defence Budget to get a massive hike</cmsannotation> Amidst the long standoff between India and China, according to <a href="https://english.jagran.com/business/budget/union-budget-2021-centre-likely-to-hike-defence-budget-unprecedently-make-in-india-to-be-in-focus-report-10022520">reports,</a> India’s defence budget could see an ‘unprecedented hike’ to meet the urgent requirements of the Indian Army. In Budget 2020, the government had allocated a total of ₹4.71 lakh crore (including defence pensions). Reports now say that with Budget 2021, the total allocation could hit ₹6 lakh crore. <cmsannotation type="cmsannotation" annotationid="Farmers to get special attention" comment="subhead" text="Farmers to get special attention">Farmers to get special attention</cmsannotation> With the farmers’ protest going on for several months now, and the Republic Day farmers tractor rally also resulting in clashes in the national capital, Budget 2021 could take measures to soothe the pain of farmers. According to <a href="https://www.firstpost.com/business/union-budget-2021-centre-likely-to-hike-farm-credit-target-to-about-rs-19-lakh-crore-9240521.html">reports</a>, the farm credit target could be raised to ₹19 lakh crore with an aim to double farmers’ income. <cmsannotation type="cmsannotation" annotationid="Massive boost for construction and affordable housing on its way" comment="subhead" text="Massive boost for construction and affordable housing on its way">Massive boost for construction and affordable housing on its way</cmsannotation> The government may make way for a massive boost for the construction and affordable housing sector. An Indian Express report claimed that the government is likely to liberalise Foreign Direct Investment (FDI) rules in construction and to give a boost to home buyers, an allocation will be made for a credit-linked subsidy in the Budget 2021. In Budget 2020, Finance Minister Nirmala Sitharaman had proposed to extend the benefit of additional deduction of ₹1.5 lakh on interest paid on affordable housing loans by a year to March 2021. Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Fund, who is also a part of the Prime Minister's economic advisory council too said the focus could be on construction and infrastructure with this budget. "My first priority would be to support the needy sector of the economy – tourism, retailing, construction, bottom of the pyramid people MSME who have been hit hard. We must support them so that there’s better financial inclusion and they are also able to participate in growth. This can be done in various formats – you can give concessions, grants, you can create mechanism through which they can grow on their own," he said during a recent conversation with Business Insider. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="9" retweetcount="2" status="#BudgetInsider: @Iyer_Sriram in conversation with @KotakMF's @NileshShah68 ahead of #Budget2021, cuz the budget tra… https://t.co/k2YwAuyRPw" createdat="1610955127000" id="1351069844918194180"></div> According to<a href="https://www.hindustantimes.com/india-news/union-budget-development-finance-institution-likely-to-be-announced-101611026367782.html"> reports</a>,a Development Finance Institution (DFI) could also be announced with the budget. This new institution would look into infrastructure projects, whether new, stalled or currently in progress, worth ₹100 lakh crore. <cmsannotation type="cmsannotation" annotationid="Bringing back jobs in the market" comment="subhead" text="Bringing back jobs in the market">Bringing back jobs in the market</cmsannotation> Another top priority for the Modi government would be to bring back jobs in the market, after a year where thousands lost jobs across the country as companies tried to cut down costs. The boost in infrastructure and construction could also lead to the growth in jobs. “The Union Budget 2021- 2022 would likely focus on investments that create jobs and therefore infrastructure, construction and significant incentives for high employment-generating sectors (like textiles, affordable housing, MSME, etc) are key areas, which may get priority focus from the government end,” said a report by Sharekhan. <cmsannotation type="cmsannotation" annotationid="Smartphones, electronic items could get costlier" comment="subhead" text="Smartphones, electronic items could get costlier">Smartphones, electronic items could get costlier</cmsannotation> Indian government is set to hike import duties on over 50 items including the likes of smartphones, electronic items and others. According to a<a href="https://www.reuters.com/article/us-india-budget-tax-exclusive/exclusive-indias-budget-seen-raising-import-duties-by-5-10-on-dozens-of-items-sources-say-idUSKBN29N14M"> Reuters report</a>, the hike could be as much as 5-10%. <cmsannotation type="cmsannotation" annotationid="Duty on finished goods could be raised" text="Duty on finished goods could be raised">Duty on finished goods could be raised</cmsannotation> Finished goods made rubber, plastic and leather could see a hike in import levies. Meanwhile, according to an ET report, “inputs used in producing chemicals such as methyl alcohol, acetic acid and PVC could see a reduction in tariffs.” <cmsannotation type="cmsannotation" annotationid="Healthcare could be on the top priority list" comment="subhead" text="Healthcare could be on the top priority list">Healthcare could be on the top priority list</cmsannotation> With the COVID-19 pandemic having shown the need for better healthcare infrastructure and facilities in the country, it is likely that the sector will see renewed focus from Sitharaman. “Combined with the start of the 15th Finance Commission period, we may see a jump in healthcare spending,” said the Credit Suisse report. According to analysts at Sharekhan, within the healthcare stimulus we could also see the extension of tax benefits under Section 35AD. Analysts also expect that there could be an increase in deduction under section 80D of mediclaim premium to be increased to ₹50,000 (for self and spouse) and will remain at ₹50,000 (for dependant parents). <cmsannotation type="cmsannotation" annotationid="Raise the divestment target" comment="subhead" text="Raise the divestment target">Raise the divestment target </cmsannotation> As the Modi government looks to recover the economy, it may also increase divestment targets for the year. A news report said that the government is likely to raise its divestment target to ₹2.5-3 lakh crore. The government plans to achieve the same with the long-pending privatization of government-owned entities like Air India, BPCL, Concor and Shipping Corp. The government could also plan to <a href="https://www.timesnownews.com/business-economy/budget/article/budget-2021-govt-may-announce-plans-to-privatise-some-psu-banks/711735">privatize</a> PSU banks. In Budget 2020, the government had set a target of ₹2.1 lakh crore, however it has managed a <a href="https://indianexpress.com/article/business/lower-divestment-spectrum-auction-receipts-hit-non-tax-collection-target-7145297/">meagre amount </a>of it – ₹13,844.49 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a> <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a>

You Searched For "IRFC news" and got 12 results

India’s first IPO listing of 2021 IRFC lists at 4% discount over issue price

Navdeep Yadav

IRFC, India’s first IPO of 2021, kicks off on January 18 — price band set at ₹25-26

Navdeep Yadav

Indian Railway Finance Corporation IPO allotment: Here’s how to check share allotment status

Navdeep Yadav

Sensex, Nifty50 hit new all-time high yet again – RIL, HDFC twins amongst most active stocks, IRFC surges 6%

Rounak Jain

Interim Budget: Sensex, Nifty trade flat as FM’s speech concludes

Katya Naidu

Government-run companies are rolling out tax-free bonds of Rs 18,000 crore collectively!

BI India Bureau

Two smoking hot IPOs choke India's largest broking site Zerodha

Navdeep Yadav

IRCTC tumbles 8% as government's 20% stake sale through OFS begins

BI India Bureau

Tandav controversy - FIR filed against the show's director and Amazon India head of content in UP

PTI

LG posts robust home appliance sales, mobile biz in deep red

IANS

McDonald’s and Burger King supplier Mrs Bector's Foods to launch ₹540 crore IPO on December 15

Navdeep Yadav

Budget 2021: From Income Tax deductions to creating jobs and boosting healthcare – Here’s all that could be in Nirmala Sitharaman’s fiscal plans

Sanchita Dash

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