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<ul><li><keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova AgriTech</keyword> is expected to announce its share allotment status on Monday, January 29.</li><li>The shares of Nova AgriTech were subscribed 109.37 times.</li><li>The shares are expected to be listed on the stock exchanges on January 31.</li></ul> Telangana-based Nova AgriTech, which offers soil health management, crop nutrition, crop protection products and more is expected to announce the allotment status of its initial public offering (IPO) on Monday, January 29. The <keyword id="16720623" type="General" weightage="20" keywordseo="Nova-AgriTech-IPO" source="Orion">Nova AgriTech IPO</keyword> opened on January 23 and closed on January 25. The price band for the IPO was ₹39 to ₹41 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Nova AgriTech IPO was subscribed 109.37 times, receiving bids for 277.95 crore equity shares against 2.54 crore shares on offer. While the qualified institutional buyer portion was subscribed 79.31 times, the non-institutional investors portion was subscribed 224.06 times. The retail portion also witnessed excellent participation and was subscribed 77.11 times. Grey market premium The shares of Nova AgriTech are currently commanding a grey market premium (GMP) of ₹20 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 IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="20333646" type="General" weightage="20" keywordseo="Nova-AgriTech-IPO-allotment-status" source="Orion">Nova AgriTech IPO allotment status</keyword>, visit the registrar’s website<a href="https://ipo.bigshareonline.com/IPO_Status.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Nova AgriTech’.</li><li>Now, select PAN, application number, or beneficiary ID and provide the details.</li><li>Now, enter the captcha.</li><li>Click on “Search”.</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 <keyword id="20333645" type="General" weightage="100" keywordseo="Nova-AgriTech-IPO-allotment" source="Orion">Nova AgriTech IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on 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 ‘Nova AgriTech’ 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="Nova AgriTech IPO listing date" comment="subhead" text="Nova AgriTech IPO listing date">Nova AgriTech IPO listing date</cmsannotation> The shares of Nova AgriTech will be listed on the stock exchanges on January 31. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/battle-of-the-flagships-galaxy-s24-ultra-vs-oneplus-12-vs-iqoo-12-vs-vivo-x100-pro/articleshow/107137774.cms">Battle of the flagships – Galaxy S24 Ultra vs OnePlus 12 vs iQOO 12 vs Vivo X100 Pro</a> <a href="https://www.businessinsider.in/business/auto/webstories/revolt-rv400-brz-an-electric-bike-for-the-city-with-150-km-range-hits-indian-roads/slidelist/107142891.cms">Revolt RV400 BRZ – An electric bike for the city with 150 km range hits Indian roads</a> <a href="https://www.businessinsider.in/business/auto/news/rolls-royce-spectre-rolls-out-as-indias-most-expensive-electric-car/articleshow/107051636.cms">Rolls Royce Spectre rolls out as India’s most expensive electric car</a>

Nova AgriTech IPO allotment – How to check allotment, GMP, listing date and more

<ul><li>The stock listed at ₹396 ahead of its issue price of Rs 414 per share.</li><li>Its market capitalisation is at ₹4,09,366.34 lakhs, according to <keyword id="19938957" type="General" weightage="20" keywordseo="national-stock-exchange" source="keywords">National Stock Exchange</keyword>. </li></ul> <keyword id="20438937" type="General" weightage="100" keywordseo="jana-small-finance-bank" source="keywords">Jana Small Finance Bank</keyword> listed with muted gains on Wednesday morning on Dalal Street. The stock listed at ₹396 verus its issue price of ₹468. Its market capitalisation is at ₹4,09,366.34 lakhs, according to National Stock Exchange. The grey market was expecting 7% listing gains from the stock. The ₹570 crore issue was subscribed almost 20 times the shares on offer. It has mobilised Rs 166.95 crore from investors like <keyword id="20254321" type="General" weightage="20" keywordseo="sbi-life-insurance-company" source="keywords">SBI Life Insurance Company</keyword>, HDFC Life Insurance Company, Kotak Iconic Fund and more; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;"></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;">Company </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;">Listing gains </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;">Apeejay Surrendra Parks </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;">31% </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;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </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;">Nova Agritech </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;">39% </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;">EPACK Durable </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;">-10% </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody></table> The issue is a combination of fresh issue and an offer for sale. It intends to use as much as ₹462 crore raised from net proceeds to augment its tier-1 capital base. The small finance bank was incorporated in July 2006, and was awarded NBFC-MFI status in 2013. They started operating as a Small Finance Bank from 2018, and became a Scheduled Commercial Bank in 2019. As at September 30, 2023, they had 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories. Their business model is centered on building a ‘one-stop shop’ to cater to their customers’ different financial needs. They expanded their asset products, and launched gold loans, MSME loans with revised credit and collateral conditions in FY18, affordable housing loans, secured business loans, and loans against fixed deposits in FY19, and two-wheeler loans in FY21. The digitalised bank offers its customers a number of digital products, services, and platforms, including mobile banking and internet banking. “Jana Small Finance Bank is a digitalized bank and majority services are available in digital form to customers with integrated risk and governance framework and customer-centric organisation with more than 16 years’ experience in serving under banked and underserved customers along with pan-India presence with strong brand recognition,” said a report by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword> which gives it a ‘subscribe’ rating.

Weak debut: Jana Small Finance Bank lists at 4% discount to IPO price

<ul><li>Shareholder lock-ins of 66 companies are slated to expire between April and June.</li><li>The cumulative value of stocks that will see lock-ins expire is estimated at $17.7 billion.</li><li>Anchor investors, promoters and non-promoters have different lock-in periods as per regulations. </li></ul>The IPO boom of 2023 means the current year will see many newly listed stocks coming out of their mandated lock-in periods. As per a report by Nuvama, per-listed shareholder lock-ins of 66 companies are slated to expire between April and June of this year. “It amounts to a value of $17.7 billion. The value pertains to the total lock-up opening shares, but it’s important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter &amp; group,” said <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>. Some of the best-performing and investor-rewarding new listings that will see lock-ins expire include – <keyword id="19930935" type="General" weightage="20" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword>, <keyword id="19960579" type="General" weightage="20" keywordseo="ireda" source="keywords">IREDA</keyword>, Doms, <keyword id="20021844" type="General" weightage="20" keywordseo="cello-world" source="keywords">Cello World</keyword> and more. How do lock-ins work? While public shareholders of a company can sell their stock anytime in the market, after they are listed, the rules are different for other classes of investors. As per regulations, anchor investors — who invest ahead of opening an issue to the public — must wait for 30 days or one month from the allotment date to sell half of their shares in the public market. The rest can be sold after 90 days or three months. Promoters and other shareholders have different lock-in expiry rules. Promoters can sell their shares to the tune of 20% of the post-issue paid-up in the open market after 18 months. For other non-promoters, the lock-in ends in six months. Bharat Highways Invit’s 19% stake lock-in In the month of April, eight companies’ one-month lock-ins will expire including — Platinum Industries, J G Chemicals, Popular Vehicles and Services, Exicom Telesystems, R K Swamy, <keyword id="20778208" type="General" weightage="20" keywordseo="gopal-snacks" source="keywords">Gopal Snacks</keyword> and Krystal Integrated Services. Each of these has anywhere between 2% to 6% of their shares open for sale. But Bharat Highways Invit will see 19% of its lock-in expiring bringing out as much as 82.6 million shares out into the market. In general, the volatility around a stock goes up when lock-in periods end. The other stocks that will see their three-month lock-ins open in April would be — <keyword id="20730654" type="General" weightage="20" keywordseo="mukka-proteins" source="keywords">Mukka Proteins</keyword>, Jyoti CNC Auto, Epack Durables, Medi Assist Healthcare and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword>. May to see the ‘chunkiest of lock-in openings’ Since a lot of IPOs were launched in the last three months of 2023, the summer of May will see the chunkiest of lock-ins opening. That includes 65% shares of mega IPOs like Tata Technologies; 55% of government-owned IREDA, 10% of DOMS and 49% of Honasa Consumer. The other companies Cello World, <keyword id="21150340" type="General" weightage="20" keywordseo="flair-writing" source="keywords">Flair Writing</keyword>, Inox India, Gandhar Oil, JSW Infra, Muthoot MicroFin, Motisons Jewelers, RBZ Jewelers and more, Some of the older stocks that will see lock-in expiries (beyond one year and more) include — <keyword id="20430709" type="General" weightage="20" keywordseo="bikaji-foods" source="keywords">Bikaji Foods</keyword>, Global Health, Abans Holding, <keyword id="20238928" type="General" weightage="20" keywordseo="keystone-realtors" source="keywords">Keystone Realtors</keyword>, Radiant Cash Management and more. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Tata Tech, IREDA and 64 other stocks to see lock-ins expire in Q1 FY25

<ul><li>The stock listed at ₹203 as compared to its issue price of ₹155 per share.</li><li>The grey market was expecting 23% listing gains from the stock.</li><li>Its market capitalisation is at ₹4,341 crore, as per Bombay Stock Exchange. </li></ul>Hotel chain <keyword id="20399039" type="General" weightage="20" keywordseo="apeejay-surrendra-park-hotels" source="keywords">Apeejay Surrendra Park Hotels</keyword> debuted on Dalal Street at a 20.6% premium on Monday. It gained during the day and closed 31% ahead of its issue price. The grey market was expecting 23% listing gains from the stock. The stock closed at ₹203 as compared to its issue price of ₹155 per share. Its market capitalization is at ₹4,341 crore, as per Bombay Stock Exchange. “We believe the healthy listing is justified on the back of reasonable valuations to peers; and government push towards the hospitality and tourism industry. Its primary objective of reducing debt could lighten interest burden which can improve the bottom lines in coming years,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, senior VP of research at Mehta Equities. He recommends allotted investors to ‘hold’ the stock with a long-term perspective. The ₹920 crore public issue was subscribed 63 times over the shares on offer. Ahead of the IPO, it raised ₹409.5 crore from anchor investors including Societe Generale, Troo Capital, Julius Baer India, Citigroup Global, Integrated Core Strategies and more. While the listing performance of 2024’s market debuts have been mixed, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Company </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;">Listing gains </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;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </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;">Nova Agritech </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;">39% </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;">EPACK Durable </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;">-10% </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody><tbody></tbody><tbody></tbody></table> The ₹920 crore issue had a fresh issue of ₹600 crore, and an Offer-for-Sale aggregated to ₹320 crore by selling shareholders. The company proposes to utilize net proceeds from fresh issue towards repayment and or prepayment, in full or in part of certain outstanding borrowings availed by company and balance amount towards general corporate purposes. Apeejay Surrendra <keyword id="20251896" type="General" weightage="20" keywordseo="park" source="keywords">Park</keyword> Hotels is the eighth largest in India in terms of chain affiliated hotel rooms inventory as of September 30, 2023. They operate hospitality assets under their own brands like The Park, The Park Collection, ‘Zone by The Park’, ‘Zone Connect by The Park’ and ‘Stop by Zone’. It develops upscale luxury boutiques as well as upper mid-scale hotels. They operate 30 hotels in 20 cities across India. The hotels are operated through direct ownership, long-term leases, operation and management agreements on a contractual basis using their brand on hotels constructed by third parties. “The company possesses a varied portfolio of hotels across India, including owned, leased, and managed properties strategically situated in both major metropolitan areas and emerging cities,” said an IPO note by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword>. They own over 1,300 rooms constituting 2.8% of the total inventory of hotel rooms owned by chained affiliated hotels across the country. The company was established over 55 years ago, with their first hotel The Park at the iconic Park Street in Kolkata. “The organization has established thriving hospitality brands by combining product innovation and exceptional service, aiming to engage customers with a varied and comprehensive range of offerings. We believe that the valuation of the company is fairly priced and recommend a ‘Subscribe-Long Term’ rating to the IPO,” said Anand Rathi.

Apeejay Surrendra Park Hotels closes 31% above its issue price on debut

As e-grocery picks up momentum in India, Walmart-owned <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> on Monday announced to invest $145 million in agritech startup <keyword id="2946840" type="General" weightage="20" keywordseo="ninjacart" source="Orion">Ninjacart</keyword>, which has helped over 1,00,000 farmers across 150 villages to generate better revenues. The third round of investment will further empower millions of agri-value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants, the company said in a statement. Ninjacart has been investing significantly in tech platforms and supply chain infrastructure over the past two years. "With this investment, we are further able to strengthen our grocery footprint and offering as consumers across the country throng to e-grocery for quality and affordable options in the fresh category," said Kalyan Krishnamurthy, CEO, Flipkart Group. Flipkart offers grocery in 1,800 cities and towns, and aims to take its offering to 2,000 more towns by mid-next year. Fresh fruits and vegetables will be an integral part of the expansion, with the company investing in technology capabilities to ensure the highest and most stringent quality checks for the end consumer. "India is at a cusp of formalising the agriculture industry, with the advent to better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a tremendous opportunity to organise our agri-ecosystem landscape like never before. We are investing in this huge potential to create value," said Thirukumaran Nagarajan, Co-founder, and CEO, Ninjacart. Earlier this year, Ninjacart inked an MoU with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market linkages and promote best practises in the farming sector. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/medplus-health-services-is-a-good-play-on-growing-e-commerce-pharmacy-space-say-analysts/articleshow/88265079.cms" data-type="tilCustomLink">MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300</a> <a href="https://www.businessinsider.in/stock-market/news/data-patterns-ipo-opens-today-gmp-at-550-check-out-other-important-details/articleshow/88264929.cms" data-type="tilCustomLink">Data Patterns’ IPO opens today; GMP at ₹550 — Check out other important details</a> <a href="https://www.businessinsider.in/stock-market/news/heres-how-you-can-check-rategain-ipo-allotment-status/articleshow/88259778.cms" data-type="tilCustomLink">RateGain’s IPO allotment status would be announced today — GMP at ₹37</a>

Walmart-owned Flipkart invests $145 million in agritech startup Ninjacart

The <keyword id="6366068" type="General" weightage="50" keywordseo="international-monetary-fund" source="Orion">International Monetary Fund</keyword> (<keyword id="6355408" type="General" weightage="100" keywordseo="imf" source="Orion">IMF</keyword>) has projected the <keyword id="11929899" type="General" weightage="20" keywordseo="global-economy" source="Orion">global economy</keyword> to grow by 3.2 per cent in 2022 and 2.7 per cent in 2023, with a downward 0.2-percentage-point revision for 2023 from the July forecast, according to the latest <keyword id="188983" type="General" weightage="20" keywordseo="world-economic-outlook" source="Orion">World Economic Outlook</keyword> (WEO) report. The global economy is experiencing "a number of turbulent challenges", as inflation higher than seen in several decades, tightening financial conditions in most regions, <keyword id="2461729" type="General" weightage="20" keywordseo="Russia-Ukraine-conflict" source="Orion">Russia-Ukraine conflict</keyword>, and the lingering Covid-19 pandemic all weigh heavily on the outlook, Xinhua news agency reported, citing the report. "This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the Covid-19 pandemic and reflects significant slowdowns for the largest economies," the report noted. A contraction in real gross domestic product (GDP) lasting for at least two consecutive quarters (which some economists refer to as a "technical recession") is seen at some point during 2022-2023 in about 43 percent of economies, amounting to more than one-third of world GDP, according to the report. Global inflation is forecast to rise from 4.7 per cent in 2021 to 8.8 per cent in 2022 but to decline to 6.5 per cent in 2023 and to 4.1 per cent by 2024, the report showed. Noting that risks to the outlook remain unusually large and to the downside, the latest WEO report said that monetary policy could miscalculate the right stance to reduce inflation, more energy and food price shocks might cause inflation to persist for longer, and global tightening in financing conditions could trigger widespread emerging market debt distress. The IMF warned that geopolitical fragmentation could impede trade and capital flows, further hindering climate policy cooperation. "The balance of risks is tilted firmly to the downside, with about a 25 per cent chance of one-year-ahead global growth falling below 2.0 per cent -- in the 10th percentile of global growth outturns since 1970," the report noted. The IMF argued that front-loaded and aggressive monetary tightening is "critical" to avoid inflation de-anchoring. "Misjudging yet again the stubborn persistence of inflation could prove much more detrimental to future macroeconomic stability by gravely undermining the hard-won credibility of central banks," said IMF chief economist Pierre-Olivier Gourinchas. Noting that fiscal policy's priority is the protection of vulnerable groups through targeted near-term support to alleviate the burden of the cost- of-living crisis felt across the globe, the IMF said the overall stance of fiscal policy should remain "sufficiently tight" to keep monetary policy on target. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-agritech-is-mobilizing-wet-waste-of-cities-as-compost-thats-saving-crops-soil-and-farmers-in-rural-areas/articleshow/94796735.cms">This agritech is mobilizing wet waste of cities as compost that’s saving crops, soil and farmers in rural areas</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-heres-how-you-can-check-the-allotment-status/articleshow/94796701.cms">Electronics Mart India IPO: Here’s how you can check the allotment status</a>

IMF downgrades 2023 global growth forecast to 2.7%

Benchmark index <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> was down more than 500 points while <keyword id="583923" type="General" weightage="20" keywordseo="energy-stocks" source="Orion">energy stocks</keyword> picked up. <keyword id="58805" type="General" weightage="20" keywordseo="power-grid-corp" source="Orion">Power Grid Corp</keyword>, <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, <keyword id="45383" type="General" weightage="20" keywordseo="coal-india" source="Orion">Coal India</keyword>, IOC, BPCL and <keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> were up 2%-5%. Several <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword> rose in excess of 10 per cent on BSE as domestic equity indices -- BSE Sensex, NSE Nifty traded in the red on Tuesday amid selling in bluechip counters. Accordingly, the sticks that's rallied over 10 per cent on BSE included NTC Industries (16.9%), Paramone Concepts (12.90%), Novateor Research (10.66%), Stove Craft (10.61%), Cosco India (10.57%). The 30 share Sensex traded 475 points down at 59,602 points around noon while 50 shares Nifty fell 117 points at 17,737 points. In Nifty 50, about 21 stocks traded in green while 29 traded in red. Stocks such as NTC Industries, Novateor Research, Surana Telecom, Stove Craft touched their 52 week high while Nova Pub, Shanti Educational touched new 52 week low. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-gujarat-state-fertilizers-and-chemicals-surges-over-4-on-reports-of-anti-dumping-duty-approval-on-caprolactam/articleshow/86576235.cms">Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">Paras Defence and Space Technologies IPO: Here’s how to check allotment status</a>

Sensex down over 500 points; Power Grid Corp, NTPC, Coal India gain up to 5%

<ul><li>Coronations are not necessarily legally required for the exercise of a monarchical office - <keyword id="162121" type="General" weightage="100" keywordseo="charles" source="Orion">Charles</keyword> is already king.</li><li>Special instruments are used to symbolise the monarch's sacred office.</li><li>As with Elizabeth, the ritual will be Anglican in format, though likely streamlined from what we saw in 1953.</li></ul>King <keyword id="5197699" type="General" weightage="80" keywordseo="charles-iii" source="Orion">Charles III</keyword>'s coronation will take place at <keyword id="483804" type="General" weightage="50" keywordseo="westminster-abbey" source="Orion">Westminster Abbey</keyword> on May 6 2023. But what is a coronation, and what can we expect? A coronation is a ritual act bestowing a crown (or similar decorative head-piece) symbolising royal or imperial power. It is usually associated with other important political and religious acts, such as oaths, anointing, enthronement, homage, parades, gift-giving or presentation to the people. These acts will be on display in the coronation of Charles III. Coronations are not necessarily legally required for the exercise of a monarchical office - Charles is already king. Instead, coronations are fundamentally symbolic and ritual. They affirm a social and political structure within the larger political theology of a polity. In <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>, they have played a pivotal function in formalising the acceptance by clergy, nobles and general populace of a monarch's accession to office. A short history <keyword id="48080" type="General" weightage="50" keywordseo="crowns" source="Orion">Crowns</keyword> and coronations have ancient origins and were popularised in Europe during the early Middle Ages. In the Roman empire, <keyword id="6955580" type="General" weightage="50" keywordseo="constantine-the-great" source="Orion">Constantine the Great</keyword> began the practice of wearing a diadem (an ornamental headband), and the emperor Julian was raised up by soldiers on a shield. Christian coronation rites developed later in the Byzantine empire, and the Carolingian Franks in western Europe added the anointing. Coronation services were usually performed by a political leader or member of the clergy, such as a prominent local bishop or even the Pope. Coronations underwent standardisation, development and change across the Middle Ages and gradually declined in the modern period. The British crown is the only surviving European monarchy that retains a coronation, though there are Asian and African countries that still practice it. Other surviving monarchies have enthronement (such as Japan and Luxembourg) or inauguration (such as Spain and Sweden) ceremonies which are secular or religious in form. Coronations like those still held in England are associated with a biblical theology of kingship. The monarch is given a divine and priestly commissioning like Israelite kings Saul, David and Solomon in the Old Testament. Over time, European coronations shifted from primarily emphasising divine commissioning to responsibilities before the law and to the people. The British coronation retains all these elements. British coronations The coronation of the British monarch is a religious event. It presents the political-theological vision of the British state as a union of nations and peoples under God. This union is celebrated in the coronation ritual, which occurs in the context of a Eucharistic liturgy. <keyword id="2591708" type="General" weightage="50" keywordseo="eucharist" source="Orion">Eucharist</keyword> is about communion. In this case, God bringing together the monarch and people in commemoration of Jesus' last supper, self-giving death and salvific resurrection. The liturgy comprises six key elements, defined by the Anglican rite as "the recognition, the oath, the anointing, the investiture (which includes the crowning), the enthronement and the homage." Special instruments are used to symbolise the monarch's sacred office. Saint Edward's crown and chair (symbolising the monarch's significance and connection to British and Christian tradition), the sceptre (an ancient biblical symbol of rule), the orb with cross (symbolising the whole world under Christ) and a ring (symbolising the monarch's "marriage" to his or her people, in a way like Christ is said by <keyword id="216800" type="General" weightage="50" keywordseo="st-paul" source="Orion">St Paul</keyword> to be married to the Church). While all these symbols are important, the anointing of the monarch with holy oil (chrism) is perhaps the most significant moment of the liturgy. This was the one moment not televised during Elizabeth II's coronation service. Like the Eucharist, anointing is an ancient sacramental practice of Christians used in baptism and confirmation. The anointing by the Archbishop fundamentally marks the body of the monarch as a special sign and for a special purpose. Under the traditions of the coronation, the anointing is said to bestow God's grace on the monarch to become a living sign of God's mercy, justice and love in the world. In this, the monarch is not divine or absolute in power, but rather relies on the sovereignty and power of God. As such, God enables the monarch to exercise his or her office in selfless service, duty and love in the manner of Jesus Christ and in relationship with him. Here, the monarch becomes an anointed symbolon (sacrament) who expresses the meaning of life, community and faith in his or her person as a special mediator of Christ. This symbolic power is deep and primal, as was shown in the reverence for Queen Elizabeth II's body at her death. The coronation ritual highlights the Christian-state nexus that remains at the heart of the British polity. An established church seems anachronistic in a secular age and arguably compromises both the church and politics. Nevertheless, despite declining in numbers, Anglicanism provides a common, transcendent frame-of-reference for fundamental values and virtues, in an age struggling with individualism, division and fragmentation. Charles III's coronation Given the importance of tradition for British society, the establishment position of the Church of England and Charles' own personal faith, the rite of coronation will remain broadly the same. As with Elizabeth, the ritual will be Anglican in format, though likely streamlined from what we saw in 1953. We can also expect it will include ecumenical (reflecting other Christian churches) and inter-religious elements, to which Charles and recent British monarchs have become more sensitive. In essence, the coronation will present the vision of a British monarchy representing loving service, loyalty and duty before God, tradition and a diverse people and nation. (The Conversation) AMS SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/imf-downgrades-2023-global-growth-forecast-to-2-7/articleshow/94800463.cms">IMF downgrades 2023 global growth forecast to 2.7%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-heres-how-you-can-check-the-allotment-status/articleshow/94796701.cms">Electronics Mart India IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-agritech-is-mobilizing-wet-waste-of-cities-as-compost-thats-saving-crops-soil-and-farmers-in-rural-areas/articleshow/94796735.cms">This agritech is mobilizing wet waste of cities as compost that’s saving crops, soil and farmers in rural areas</a>

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King Charles III will be coronated in May. The ritual has ancient origins - here's what we can expect

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