<ul><li>JNK India is expected to announce its share allotment status on Friday, April 26.</li><li>The shares of JNK India were subscribed 28.06 times.</li><li>The shares are expected to be listed on the stock exchanges on April 30.</li></ul> Thane-based <keyword id="21429469" type="General" weightage="20" keywordseo="JNK-India-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="JNK India Limited" meta.hostid="261" meta.entityid="JNK India Limited">JNK India Limited</keyword>, which designs, manufactures and installs process-fired heaters, reformers and cracking furnaces, is expected to announce the allotment status of its initial public offering (IPO) on Friday, April 26. The <keyword id="21412522" type="General" weightage="20" keywordseo="JNK-India-IPO" source="keywords">JNK India IPO</keyword> opened on April 23 and closed on April 25. The price band for the IPO was ₹395 to ₹415 per share. <cmsannotation type="cmsannotation" annotationid="JNK India IPO subscription" comment="subhead" text="JNK India IPO subscription">JNK India IPO subscription</cmsannotation> The IPO of JNK India Limited was fully subscribed on the second day of bidding led by NII and Retail. On the last day, the JNK India IPO was subscribed 28.06 times, receiving bids for 31.11 crore equity shares against 1.12 crore shares on offer. While the qualified institutional buyer portion was subscribed 75.72 times, the non-institutional investors portion was subscribed 23.19 times. The retail portion also witnessed decent participation and was subscribed 4.01 times. <cmsannotation type="cmsannotation" annotationid="JNK India IPO Grey market premium" comment="subhead" text="JNK India IPO Grey market premium">JNK India IPO <keyword id="19905703" type="General" weightage="20" keywordseo="Grey-market-premium" source="keywords">Grey market premium</keyword></cmsannotation> The shares of JNK India are currently commanding a grey market premium (GMP) of ₹25 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the JNK India IPO allotment status" comment="subhead" text="Here’s how to check the JNK India IPO allotment status">Here’s how to check the <keyword id="21429468" type="General" weightage="100" keywordseo="JNK-India-IPO-allotment" source="Orion">JNK India IPO allotment</keyword> status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the JNK India IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘JNK India’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the JNK India IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘JNK India’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="JNK India IPO listing date" comment="subhead" text="JNK India IPO listing date">JNK India IPO listing date</cmsannotation> The shares of JNK India will be listed on the stock exchanges on April 30. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a> <a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms">GIGABYTE AORUS CO49DQ 49-inch QD-OLED 144Hz curved gaming monitor launched in India</a>

JNK India IPO allotment – How to check allotment, GMP, listing date and more

<keyword id="19896400" type="General" weightage="20" keywordseo="Deloitte" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte" meta.hostid="153" meta.entityid="Deloitte">Deloitte</keyword> India on Friday said it estimates <keyword id="20084518" type="General" weightage="20" keywordseo="Indias-GDP-growth" source="keywords">India's GDP growth</keyword> at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's <keyword id="21435739" type="General" weightage="20" keywordseo="economic-outlook-report" source="keywords">economic outlook report</keyword>, Deloitte said the rapid growth of the <keyword id="21435740" type="General" weightage="20" keywordseo="middle-income-class" source="keywords">middle-income class</keyword> has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said. Deloitte has revised India's economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent. The country's GDP growth is estimated to reach around 6.6 per cent in FY 2024-25 and 6.75 per cent in the year after, as markets learn to factor in geopolitical uncertainties in their investment and consumption decisions, Deloitte said in its quarterly update to its economic outlook. "The <keyword id="19916878" type="General" weightage="20" keywordseo="global-economy" source="keywords">global economy</keyword> is expected to witness a synchronous rebound in 2025 as major election uncertainties get sorted out and the central banks of the West may announce a couple of rate cuts later in 2024. India will likely see improved capital flows and a rebound in exports" said Deloitte India Economist Rumki Majumdar. Strong growth numbers over the past two years have helped the economy to catch up with the pre-COVID trends. Investment, backed by strong government spending on infrastructure, has helped India maintain a steady recovery momentum, she added. That said, there are concerns about inflation and geopolitical uncertainties feeding into higher food and fuel prices. At the same time, the prediction of above normal monsoon will likely provide some respite by positively impacting agriculture output and easing pressure on food prices. Inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity, Majumdar said. Deloitte's FY25 GDP growth estimate is similar to the projections made by the World Bank. It is, however, lower than the projections by the RBI and other agencies. The RBI has projected the Indian economy growth at 7 per cent in the current fiscal. While the Asian Development Bank (ADB) and Fitch Ratings have estimated growth at 7 per cent, the International Monetary Fund (IMF), S&amp;P Global Ratings and Morgan Stanley projected a 6.8 per cent growth rate for FY25. Deloitte said even as growth in consumer spending post-pandemic has been fluctuating, there is a visible shift in consumption patterns, with demand for luxury and high-end products and services growing faster than demand for basic goods. "India is seeing a prominent shift in consumer behaviour toward aspirational spending, which is inevitable in any nation that experiences growing economic prosperity. India's spending share in the luxury and premium goods and services category (such as spending on transport, communication, recreation, etc.) has traditionally been lower than nations such as the United States, China, Japan, and Germany. So, there is, therefore, potential for this ratio to increase further as consumer income grows." Majumdar said. The report further said that to sustainably boost household spending amidst wealth concentration, declining savings, and rising debt levels, several corrective measures can be implemented. Increasing employment opportunities in rural and semi-urban areas could elevate savings, particularly as employment transitions from agriculture, which represents 44 per cent of employment but only about 18 per cent of GDP, to sectors like manufacturing, services, and construction. Government investments in infrastructure and initiatives such as Future Skills Prime 2021 for skill enhancement and Ayushman Bharat for health improvements are expected to enhance employability and productivity. Despite the necessity for credit growth to stimulate economic activity, the RBI will have to monitor rising household debt and encourage banks to leverage data analytics for smarter lending decisions, Deloitte said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

Deloitte projects India's FY25 GDP growth at 6.6%

New Delhi [India], April 26 (ANI): The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> has announced the auction for the sale of <keyword id="19973929" type="General" weightage="20" keywordseo="Government-Securities" source="keywords">Government Securities</keyword> worth Rs 32,000 crore. The auction is scheduled to take place on Friday and it aims to facilitate the sale (re-issue) of Government Securities through a multiple price-based method. The primary dealers can submit their bids electronically through the E-Kuber System between 09:00 A.M. and 09.30 A.M on Friday. "Underwriting Auction for sale of Government Securities for Rs32,000 crore on April 26, 2024 Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on April 26, 2024" said a realease by the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>. According to RBI the Under the primary dealers are required to fulfill Minimum Underwriting Commitment (MUC) and minimum bidding commitment under Additional Competitive Underwriting (ACU) for the auction. The underwriting commission will be credited to the current account of the respective primary dealers with the Reserve Bank of India (RBI) on the day of the issue of securities. This auction presents an opportunity for primary dealers to participate in the underwriting process and contribute to the government's financing activities. The auction signifies the government's continued efforts to manage its borrowing program efficiently and meet its funding requirements. With the auction scheduled for April 26, RBI urges primary dealers to prepare and participate actively to support the smooth conduct of the auction and ensure successful outcomes for all stakeholders. A Government Security (G-Sec) is a tradeable instrument issued by the <keyword id="19910020" type="General" weightage="20" keywordseo="Central-Government" source="keywords" meta.keywordsubtype="org" meta.entityname="Central Government" meta.hostid="261" meta.entityid="Central Government">Central Government</keyword> or the <keyword id="19911518" type="General" weightage="20" keywordseo="State-Governments" source="keywords" meta.keywordsubtype="org" meta.entityname="State Governments" meta.hostid="261" meta.entityid="State Governments">State Governments</keyword>. It acknowledges the Government's debt obligation. Such securities are short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with original maturity of one year or more). In India, the Central Government issues both, treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs). G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

RBI announces auction sale of Govt. securities of ₹32,000 crore

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> has received an invitation from his Italian counterpart Giorgia Meloni to attend the <keyword id="21430934" type="General" weightage="20" keywordseo="G7-Summit" source="keywords">G7 Summit</keyword> Outreach Session in Italy in June. Modi spoke to Italian Prime Minister Meloni on Thursday and thanked her for the invite to the G7 Summit Outreach Sessions to be held in Italy's Puglia, the <keyword id="19898714" type="General" weightage="20" keywordseo="Ministry-of-External-Affairs" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of External Affairs" meta.hostid="261" meta.entityid="Ministry of External Affairs">Ministry of External Affairs</keyword> said in a statement. In a post on 'X', Modi said he greeted Meloni and the people of Italy on the 79th anniversary of Liberation Day. "Thanked her for the invite to the G7 Summit in June. Discussed taking forward #G20India outcomes at the G7. Reaffirmed commitment to deepening our Strategic Partnership," he added. The Summit will be held on June 13-15. The result of the ongoing general election will be announced on June 4. Before the announcement of the Lok Sabha elections, Modi said in February that he had already received invitations from "foreign countries for July, August, and September" as they are "confident of the BJP government returning to power". Officials said Meloni's invitation to Prime Minister Modi for the G7 Summit in Italy's Puglia in June after the elections reiterates this confidence. During their conversation on Thursday, the two leaders also discussed taking forward the important outcomes from India's G20 Presidency, especially those that support the Global South, at the G7 Summit under Italy's Presidency, the statement said. They reaffirmed their commitment to continue to strengthen the bilateral strategic partnership and also exchanged views on regional and global developments of mutual interest, it added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

Italian PM Meloni invites PM Modi to G7 Summit Outreach Session in June

<ul><li><keyword id="20270096" type="General" weightage="20" keywordseo="equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> climbed in early trade on Friday, extending their rally for the sixth day running</li><li>The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 176.47 points to 74,515.91 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> went up by 50.05 points to 22,620.40.</li><li><keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword>, Wipro, JSW Steel, HCL Technologies, HDFC Bank and ITC were among the other major gainers.</li></ul>Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> and firm trends in Asian markets. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> climbed 176.47 points to 74,515.91 in early trade. The NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> went up by 50.05 points to 22,620.40. From the Sensex basket, Tech Mahindra jumped over 12.50 per cent after the IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins. Tech Mahindra CEO Mohit Joshi said the company hopes to come back to growth in H2 FY25. Tata Steel, Wipro, JSW Steel, HCL Technologies, HDFC Bank and ITC were among the other major gainers. Bajaj Finance, Bajaj Finserv, Mahindra &amp; Mahindra and Nestle were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. Wall Street ended lower on Thursday. Global oil benchmark Brent crude climbed 0.33 per cent to USD 89.30 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data. The BSE benchmark climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75 per cent to 22,570.35. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

Markets rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%

<ul><li><keyword id="19985864" type="General" weightage="20" keywordseo="Realme" source="keywords" meta.keywordsubtype="org" meta.entityname="Realme" meta.hostid="261" meta.entityid="Realme">Realme</keyword> has launched its latest budget smartphone, the <keyword id="21437691" type="General" weightage="100" keywordseo="Realme-C65-5G" source="keywords">Realme C65 5G</keyword>.</li><li>The Realme C65 5G is priced starting at ₹10,499 and comes in three variants.</li><li>Here’s everything you need to know about the latest budget smartphone from Realme.</li></ul> Realme on Friday launched its latest budget smartphone in the Realme C series, dubbed as the Realme C65 5G. The device is now the most affordable offering in its C series. Realme has been on a launching spree recently, unveiling several devices in the last few weeks, such as the<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms"> Narzo 70 and Narzo 70X</a>,<a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-and-realme-12-5g-launched-in-india-starting-at-16999/articleshow/108261608.cms"> Realme 12 and Realme 12+</a> and more. <cmsannotation type="cmsannotation" annotationid="Realme C65 5G price and availability" comment="subhead" text="Realme C65 5G price and availability"><keyword id="19564578" type="General" weightage="20" keywordseo="Realme-C65-5g-price" source="Orion">Realme C65 5G price</keyword> and availability</cmsannotation> The Realme C65 5G has been priced at ₹10,499 for the 4GB RAM + 64GB storage variant, ₹11,499 for the 4GB RAM + 128GB storage variant and ₹12,499 for the 6GB RAM + 128GB storage variant It comes in Feather Green and Glowing Black colour options. The device will be available from Flipkart and Realme Online Store starting from April 26. <cmsannotation type="cmsannotation" annotationid="Realme C65 5G specifications" comment="subhead" text="Realme C65 5G specifications">Realme C65 5G specifications</cmsannotation> The Realme C65 5G runs on Android 14 out of the box with the company’s Realme UI 5.0 on top. The Realme UI 5.0 is the company’s custom skin which offers a customised version of Android. The device will get two years of Android updates and three years of security updates. The Realme C65 5G features a 6.67-inch HD+ IPS LCD with a 120Hz refresh rate. The Realme C65 5G is powered by the <keyword id="21437692" type="General" weightage="20" keywordseo="MediaTek-Dimensity-6300" source="keywords">MediaTek Dimensity 6300</keyword> chipset. It comes in three variants – a 4GB RAM + 64GB storage variant, a 4GB RAM + 128GB storage variant and a 6GB RAM + 128GB storage variant. Coming to the camera department, the Realme C65 5G features a 50MP primary camera at the back and an 8MP selfie camera. The smartphone is powered by a 5,000mAh battery with 15W charging support. The device is IP54-rated for water and dust resistance and comes with a side-mounted fingerprint sensor. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Friday rejected pleas seeking complete cross-verification of votes cast using <keyword id="20059791" type="General" weightage="20" keywordseo="EVMs" source="keywords">EVMs</keyword> with a <keyword id="20952565" type="General" weightage="20" keywordseo="Voter-Verifiable-Paper-Audit-Trail" source="keywords">Voter Verifiable Paper Audit Trail</keyword> (VVPAT) and said "blindly distrusting" any aspect of the system can breed unwarranted scepticism. Maintaining that "democracy is all about striving to build harmony and trust between all institutions", a bench of Justices Sanjiv Khanna and Dipankar Datta delivered two concurring verdicts and dismissed all the pleas in the matter, including those seeking to go back to ballot papers in elections. The court issued two directives. Pronouncing his verdict, Justice Khanna directed the Election Commission to seal and store units used to load symbols for 45 days after the symbols have been loaded to <keyword id="20051732" type="General" weightage="20" keywordseo="Electronic-Voting-Machines" source="keywords">electronic voting machines</keyword> in strong rooms. The apex court also allowed engineers of the EVM manufacturers to verify the microcontroller of the machines after declaration of the results on the request of candidates who stood second and third. Request for the verification of the microcontroller can be made within seven days of declaration of the results after payment of fees, the court said. "If EVM is found tampered during verification, fees paid by the candidates will be refunded," it said. An EVM comprises three units -- ballot unit, control unit and the VVPAT. All three are embedded with microcontrollers which have a burnt memory from the manufacturer. Currently, VVPATs are used in five booths per assembly constituency. "While maintaining a balanced perspective is crucial in evaluating systems or institutions, blindly distrusting any aspect of the system can breed unwarranted scepticism...," Justice Datta said. Hearing the matter on April 24, the bench had said it cannot "control the elections" or issue directions simply because doubts have been raised about the efficacy of EVM. The petitions had claimed the polling devices can be tinkered with to manipulate the results. NGO Association for Democratic Reforms, one of the petitioners, had sought reversal of the poll panel's 2017 decision to replace the transparent glass on VVPAT machines with an opaque glass through which a voter can see the slip only when the light is on for seven seconds. The petitioners have also sought the court's direction to revert to the old system of ballot papers. The seven-phase Lok Sabha polls began on April 19 and will conclude with the announcement of results on June 4. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="267" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> has won a vote of confidence from global rating agencies <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> and <keyword id="19950093" type="General" weightage="20" keywordseo="Fitch" source="keywords">Fitch</keyword> after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&amp;P Global Ratings and Fitch Ratings in separate notes spoke of its <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd's (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&amp;P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 crore. The company subsequently agreed to buy Paramount Global's 13.01 per cent stake in local entertainment network Viacom18 Media Pte Ltd for about Rs 4,300 crore. "These investments are in line with RIL's strategy to diversify and have a strong presence in a few key industries," the rating agency said. Also, the company received government approval in 2024 to develop gas reserves in the KG-D6 block in the Bay Of Bengal. This could increase the company's gas production capacity by 13-17 per cent. RIL's earlier announced investments include a Rs 75,000 crore expansion plan over five years (starting 2022) for the oil-to-chemicals business. "RIL's earnings will benefit from past investments," S&amp;P said. "We project the company's adjusted EBITDA will rise 2-4 per cent in fiscal 2025 (year ending March 31, 2025)," it added. Just as in the past two years, the digital services segment (Reliance Jio Infocomm Ltd) will be the key growth driver, with segment's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increasing 10-12 per cent in fiscal 2025. Reliance Jio's wireless subscriber base and average revenue per user will gain from the company's investments in its 5G network since late 2022. Meanwhile, earnings in the oil and gas as well as retail segments will reap the rewards of increased production volume and a wider retail store network. "The EBITDA improvement that we expect in fiscal 2025 comes after a 14 per cent increase to Rs 1.6 lakh crore in fiscal 2024," it said. S&amp;P saw RIL's rising earnings providing it greater balance-sheet flexibility for growth. "We expect the combination of robust operating performances and continued spending to keep the company's debt-to-EBITDA ratio at 1.8x-2.0x over the next two years. This compares with our estimate of 1.7x for fiscal 2024 and our downgrade trigger of 2.5x," S&amp;P said. RIL's leverage has some distance from the upper end of the company's internal leverage target. RIL has reiterated its intention to keep its net debt-to-EBITDA ratio (by its own calculations) below 1x. The ratio was 0.65x as of March 31, 2024. Separately, Fitch Ratings said RIL's EBITDA net leverage is likely to remain below 1x in the medium term, supported by increasing cash flows and lower capex intensity, even as the conglomerate's absolute capex and investments remain high in the near term. "We expect RIL's EBITDA to increase by 8 per cent year-on-year in the financial year ending March 2025 (FY25) and 14 per cent in FY26, while capex intensity (capex/revenue) is likely to reduce below 13 per cent by FY26 (FY24: 15.3 per cent). Lower capex intensity would be driven by growing revenue and reduction in capex after FY25," it said. Fitch expected the conglomerate's Cash Flow from Operations (CFO) to be sufficient to fund its capex from FY26, which will limit additional debt funding and keep its EBITDA net leverage below 1.0x in the medium term (FY24: 0.9x, FY23: 1.1x). "Fitch estimates RIL's FY24 EBITDA net leverage at 0.9x, better than our expectation of 1.1x, driven by marginally higher EBITDA and Rs 20,900 crore of equity raised mainly from the sale of a stake in a subsidiary, even as its capex remained high at Rs 1.5 lakh crore (FY23: Rs 1.4 lakh crore)," the rating agency said in a statement. It rates RIL at 'BBB'/Stable, one notch above India's rating (BBB-/Stable). "We expect the EBITDA increase in the near to medium term to be driven by the telecom and retail businesses, supported by contribution from the upstream oil and gas segment and marginal recovery in petrochemical spreads in the oil to chemical (O2C) segment," Fitch said, adding EBITDA from digital services, largely telecom, is likely to benefit from a 10-15 per cent tariff hike and 15-20 million of additional subscribers in FY25 (FY24: 482 million subscribers). Digital services EBITDA rose by 13 per cent in FY24, as Reliance added 42 million subscribers and monthly average revenue per user increased to Rs 182. Monthly user data consumption increased by 24 per cent to 28.7 GB, one of the highest globally. Fitch expected retail EBITDA to increase by 20-25 per cent in FY25 (FY24: 28%) as Reliance continues to expand its physical stores and digital channels. EBITDA would be supported by a 22.2 per cent increase in its registered customer base to 304 million in FY24. Also, O2C segment EBITDA is expected to remain above Rs 60,000 crore in FY25 (FY24: Rs 62,400 crore), as a gradual improvement in petrochemical spreads from FY24 lows is expected as a supply overhang recedes. Upstream oil and gas EBITDA should stay at around Rs 20,000 crore in FY25 (FY24: Rs 20,200 crore), assisted by the expectation of a 10 per cent increase in gas production in the first full year of operation of three gas fields in the KG-D6 block, which should offset the potential reduction in price realisation with lower gas prices in international benchmarks. 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