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<a href="http://www.businessinsider.in/searchresult.cms?query=Punj+Lloyd+Ltd">Punj Lloyd Ltd</a>., a mid-sized <a href="http://www.businessinsider.in/searchresult.cms?query=engineering+construction">engineering construction</a> company, shot up in Monday's trade on news that the firm had bagged an order from Indian Oil Corp. 
 
State-run IOC awarded a contract worth 1,094 crore rupees to Punj Lloyd to build a Sulpur Refinery Unit, among other works, on an EPC basis at its Haldia Refinery in West Bengal. 
 
As a consequence, Punj Lloyd surged 1.4 rupees, or 5.8 percent, to 25.60 rupees on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a> where 13.3 lakh shares were traded compared with the 5-day average of 14.4 lakh shares. 
 
Punj Lloyd's <a href="http://www.businessinsider.in/searchresult.cms?query=market+capitalisation">market capitalisation</a> has slid 30 percent in the past one year to 804 crore rupees as investors stayed away from companies that were directly exposed to the industrial slowdown. 
 
Punj Lloyd is trading at 0.3 times its book value of 78.4 rupees and its revenues have slid 7.5 percent compounded in the past five years. 
 
Image credit: Indiatimes

Shares of ​Punj Lloyd shot up today. Know why

Shares of <keyword id="46046" type="PERSON" weightage="80" keywordseo="Punj-Lloyd">Punj Lloyd</keyword> Ltd soared more than 9 percent on news that the engineering company was one among two shortlisted by the Indian Army to refurbish its Air Defence Guns for a contract estimated at $100 million. 
 
Punj Lloyd and Bharat Electronics Ltd. were the only two left in the fray out of 5 companies that took part in the bidding. The final bids are to be opened within six months. 
 
Punj Lloyd surged 2.5 rupees to 29 rupees on the National Stock Exchange, where 58.4 lakh shares changed hands compared with a 5-day average of 12.8 lakhs. 
 
Winning this contract could be the veritable shot in the arm for Punj Lloyd which has seen its market capitalization erode 37 percent to 961 crore rupees over the past year as investors shied away from debt-laden companies. 
 
(Image credit: Indiatimes)

Shares of Punj Lloyd Ltd are soaring, thanks to the Indian Army

The board of clean energy solution provider <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword> has appointed J P <keyword id="149791" type="General" weightage="100" keywordseo="chalasani" source="Orion">Chalasani</keyword> as the company's Chief Executive Officer following the resignation of <keyword id="6372540" type="General" weightage="20" keywordseo="Ashwani-Kumar" source="Orion">Ashwani Kumar</keyword> from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, at its meeting held on 4th April 2023 has, inter alia, approved the appointment of J P Chalasani as the Chief Executive Officer and one of the key managerial personnel of the Company, to act as the Group Chief Executive Officer, with immediate effect, i.e. from 5th April 2023, the filing said. Chalasani had been Group CEO of Suzlon for the period from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter. Chalasani has over 40 years of experience in the public and private sector across the entire gamut of the power sector (power generation projects, transmission, distribution, trading and coal mining). Prior to his earlier stint as the Group Chief Executive Officer of the Company, Chalasani was the Group CEO and Managing Director of Punj Lloyd since January 2014 and was responsible for the energy, infrastructure and defence business for the group globally, which is close to USD 1.8 Billion. Prior to joining Punj Lloyd, Chalasani had spent over 18 years with the Reliance Group. He joined Reliance Group (undivided) as a Vice President in 1995 and worked on a number of assignments for the group. He also served as the first Chief Executive Officer and the Director on the Board of BSES Rajdhani and BSES Yamuna Power Ltd. In 2003, along with Anil Ambani, he was appointed to the Board of Reliance Infrastructure as Director Business Development. Post demerger of the Reliance Group, Chalasani was with the ADAG group. He took over as CEO of Reliance Power in March 2008, soon after the company completed its big initial public offer. Chalasani created a 10 people team to start Reliance Power and grew it to a 30,000 MW (generating, under construction and under development) company in 2013. Prior to Reliance Group, Chalasani started his career at NTPC and worked there for 15 years in various capacities, including Special Technical Assistant to the Chairman and Managing Director.

Suzlon board appoints J P Chalasani as Chief Executive Officer

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

Global Indian Leaders of The Year 2023 as per World Brand Affairs

New Delhi, Dec 18 () Markets regulator Sebi has imposed a penalty of Rs 10 lakh on Magnum Fincom Broking and 22 other entities for cornering the shares reserved for the retail category in three initial public offerings (IPOs).
 The Securities and Exchange Board of India (Sebi) conducted an investigation into the dealing of Magnum and 22 connected entities in the IPO of Kernex Microsystems, Punj Lloyd and ABG Shipyard during the period from November 2005 to January 2006 with regard to the alleged violations of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.
 The probe found that Magnum employed a scheme or device of misusing the IPO allotment process by cornering the shares of the three IPOs that were intended for genuine retail allottees, and was aided and abetted by the 22 connected entities.
 Magnum has made a profit of Rs 3.34 lakh by selling the shares received through the IPO allotment, it added.
 Accordingly, the regulator has slapped a fine of Rs 10 lakh to be paid jointly and severally, on these entities.
 In a separate order, the regulator has slapped a fine of Rs 3 lakh on a stock broker Leo Financial Services for failing to maintain segregation of client's funds and misusing these funds.
 By such activity, Leo Financial Services has violated stock brokers' norm.
 In another order, the markets watchdog has levied a fine of Rs 2 lakh on Gretex Corporate Services and Rs 1 lakh on Vatsal Agarwaal for failing to obtain acquisition window for "offer to buy" on the internet-based book building system platform of the BSE before opening of the tendering period and thereby violated SAST (Substantial Acquisition of Shares and Takeover) norms. SP HRS

Sebi imposes Rs 10 lakh fine on Magnum, 22 others for cornering retail investors' shares in IPOs

New Delhi, Dec 31 () Realty firm RSP Developers is investing Rs 400 crore to develop a commercial project in Gurugram, Haryana, where corporates can set up their research and development (R&amp;D) centres, a top company official said on Tuesday.
 The company has already developed and leased 1.15 lakh sq ft space to BMW Group in this 12-acre project 'e-novation Centre' comprising a total of 8 lakh sq ft area.
 "We are developing a commercial complex in Gurugram dedicated for R&amp;D and training purposes," RSP Developers MD Satya Priya Yadav said.
 He said this is possibly the first project in the national capital region (Delhi-NCR) for setting up of R&amp;D and innovation labs, incubators, accelerators, centres of excellence, IT/ITeS units and training centres.
 "The first block is already operational and occupied by BMW Group. We have completed two more blocks comprising 3.5 lakh sq ft area and the leasing process has started," Yadav said,
 The BMW Group training centre is one of the largest automobile training centre in the country, he added.
 The remaining three blocks/towers, comprising nearly 3.5 lakh sq ft, would be completed in the next two years.
 Asked about the investment, Yadav said the total project cost is estimated at around Rs 400 crore including land cost.
 At present, he said the rentals are in the range of Rs 65-85 per sq ft a month in this region, depending on the facilities.
 Yadav expressed confidence that the company would be able to lease the 3.5 lakh sq ft area over the next six months. It has roped in international property consultants to help in leasing process of this LEED (Leadership in energy and environmental design) certified green commercial complex.
 "Gurugram has begun to give competition to Bengaluru as a preferred destination for R&amp;D and tech companies. Till recently, the focus for R&amp;D in India was in the south - Bengaluru, Hyderabad, Chennai and Pune," he said.
 RSP Developers, which was founded in 1996, has developed over a million square feet of office space in Gurugram. Its client list includes BMW Group, Encore, Droom, IFF, Koovs, HFCL Infotel, Swiggy, Exicom, Orange, Punj Lloyd, Tellabs and Fibcom. MJH RUJ
RUJ

RSP Developers investing Rs 400 cr for commercial complex in Gurugram

The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> and the <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> may have ended Friday on a tepid note but added a whopping 3 percent this week as a major policy change by the government on recognizing FII ownership into local stocks, a settlement in Greece and Iran boosted stock prices. 
 
The Nifty ended with gains of 3 percent this week, closing at a fresh 3-month high of 8,609 points. It overcame major resistances on its way up to the highest levels since April 20. BHEL, Tech Mahindra, Mahindra &amp; Mahindra were the top gainers on the Index, whose Advance-Decline Ratio was 33:17. 
 
Meanwhile, on the Bombay Stock Exchange, the Sensex surged 2.9 percent this week to end at 28,478 even as it closed flat on Friday. Infosys, TCS and Lupin posted smart gains on the Index, where 19 stocks posted gains compared with 11 that lost ground in today's trade. 
 
While the two major indices just about edged up on Friday, gains were seen elsewhere within the sectoral space. Indices in the pharma, FMCG, Small Cap, Auto and IT sectors exhibited strong uptrend. 
 
Such sectors saw several stocks hitting fresh highs: Dr.Reddy's, Aurobindo Pharma, Motherson Sumi, Maruti, Britannia and Siemens were some companies that posted fresh highs on the markets on Friday. 
 
Traders were also active on the long side on stocks such as MindTree, Punj Lloyd and 3M India on individual developments. 
 
(Image credit: Indiatimes)

Know how the Market fared today

Major Indices suffered a sharp and swift downslide in early deals on Monday as institutional traders took advantage of Friday's 2 percent gain to press the button on short sales again. PSU Banks bucked the trend after the government's recapitalisation last week.
 

	The Nifty dropped 70 points to 8,449 in early deals on Monday, after briefly trading in the green. The Advance-Decline Ratio fell to 5/45 with Cipla, Zee Entertainment, Vedanta, ONGC and Hindalco showing the sharpest losses on the Index. 
 

	PSU Banks led the gainers with Bank of Baroda, Punjab National Bank, State Bank of India, BPCL and Asian Paints taking the top five slots on the Nifty, where Bank of Baroda was the top traded counter with 238 crore rupees of shares already changing hands.
 All major indices drifted lower in trade. The CNX 100, CNX 200 and CNX 500, CNX Nifty Junior, the mid cap and small cap indices fell between 0.5-1.1 percent in the first half hour of trade on the NSE. The <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> dropped 62 points to 18,662. CNX Realty and CNX Media Indices were the top losers, shaving off a major chunk of their gains collected on Friday. 

	The sectoral space, too, was awash in red: Losses ranged between 0.8-2.3 percent.
 And on the <keyword id="43628" type="CITY" weightage="100" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword>, the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> plunged 300 points at 27,768 in initial trades. As a consequence, the Advance-Decline Ratio stood at 2/28. Tata Motors, GAIL, Reliance Industries, BHEL and HDFC were the top losers on the Index where the only two gainers were Coal India and SBI. HDFC was the top traded counter on the Sensex. 

	The Futures and Options market was in a bear grip with an Advance-Decline ratio of 31/129. PSU banks were the five top gainers in the derivatives space. On the losing side were Cipla, Unitech, Amtek Auto and Kaveri Seeds.
 

	The broader market saw bears displacing the bulls yet again. The Advance-Decline Ratio stood at 632 versus 1,011 shares that fell.
 

	Amara Raja Batteries, Ceat and IPCA hit fresh highs on the NSE and Gujarat Pipavav Ports, Gitanjali Gems, BoB and Punj Lloyd made it to the volume buzzers list on the Exchange.

	 
	 
	(Image credits: Indiatimes)

Markets opened with bad news

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> is likely to consolidate at current levels on Monday as stocks experience last week's pent up buying even as overseas moves give muted-to-weak directions to local stocks. PSU banks are likely to be in focus after the government took steps to ease control and inject funds in these NPA-laden lenders. 

	Meanwhile, the SGX Nifty signals a 21-point downtick at opening for Nifty futures today. Investors may fret over the 10 percent deficit so far in monsoon rains but they will take comfort from the Nifty surging 2 percent on Friday, mainly on account of short covering.
 

	Overseas cues are mostly negative. Major US indices lost 0.6-1.1% last week. European indices were under intense selling pressure, dropping 2.8-4.6% in the previous five days.
 

	The commodities market presented a mixed trend on Monday. Oil Futures remain at 6-year lows on fears of a further rise in OPEC's output in a market that is already experiencing a glut of supplies. Gold and Silver futures inched up marginally. Copper Futures were strong. Markets in Japan edge up after Japanese GDP contracted less than expected. Stocks in China and Hong Kong slipped in trade.
 Meanwhile, the Nifty Index closed at 8,518 points, up 163 on Friday mainly due to a strong bout of short covering ahead of the <keyword id="47209" type="ORGANIZATION" weightage="100" keywordseo="Finance-Ministry">Finance Ministry</keyword>'s press conference on PSU banks' recapitalisation. 

	The sentiment turned positive in the cash market. Foreign Institutional Investors turned net buyers for the first time in six sessions, purchasing stocks to the tune of `404 crore rupees on Friday. Domestic institutions joined the party as well, shelling out 179 crores in net buys.
 

	The derivatives space saw muted action. Traders made net purchases of 435 crore rupees for Index Futures; Net sales of 71 crore rupees for Stock Futures; Purchases of `667 crore rupees for Index options and net sales of 61 crore rupees for Stock Options.
 

	STOCKS TO WATCH:
 

	EARNINGS RELATED:
 

	Amtek Auto, BEML, Cipla, Punj Lloyd, Reliance Communications and Suven Life.
 

	BIRLA CORP: Acquires 2 cement assets from Lafarge for an enterprise value of 5,000 crore rupees.

	 
	 
	(Image credits: Indiatimes)

Top stock market action to look out for today

The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword>, already at 3-month highs, is likely to remain in an uptrend on Friday as the Greek-debt overhang fades after its parliament approved austerity measures for a fresh bailout. Cues from overseas equity markets are positive and commodities remain muted.
 

	The Nifty is seen trading in the higher 8,637-8,737 band after yesterday's 1 percent surge over a crucial resistance level. The new support level is seen at 8,540. ACC and Kotak Bank are the major companies slated to report earnings today.
 

	Meanwhile, the US markets shut 0.4-1.2 percent higher on Thursday after Greece's parliament voted for steps that will rein in further government spending in exchange for EU's funds to keep its banks afloat. The Nasdaq Index hit a record high. Markets in Europe were also in a fine fettle. Asian markets are upbeat as well. 
 

	The Dollar Index hit a 7-week high after US Federal Reserve's Chief Janet Yellen said a rate rise was very much on the cards in September and she expects the US economy to exhibit strength all through 2015. Gold Futures fell to 8-month lows.
 

	Meanwhile, back in India, foreign funds stepped up purchases in the cash market following sharp gains. They bought a net 746 crore rupees for Indian equities in the cash segment, the 4th straight day of purchases, versus a net sell figure of 99 crore rupees from domestic players. FIIs were even more aggressive in the derivatives markets, where they poured a net 1,511 crores in Index Futures; 544 crores in Stock Futures and 756 in Index Options. 
 

	STOCKS TO WATCH
 

	
		SUN PHARMA: CLSA raised its price target to `1,160 from `1,130. Maintains `Buy'
	 
	
		MINDTREE: CREDIT SUISSE raises target to `1,225 from `1,200. Maintains `Neutral'. Company spends $75 million on two buyouts. 
	 


	SPICEJET: Reported the highest load factor of 93.2 percent in June among airlines thanks to its special discounted fares offered in the past month
 

	3M India: To invest more in local unit and make it a global export hub. No plans on delisting as of now
 

	TATA STEEL: To cut 720 jobs at its UK operations. To focus on high value steel products
 

	PUNJ LLOYD, BHARAT ELECTRONICS: Shortlisted by Indian Army for a $100 million upgrade of Air Defence Guns 
	 
	(Image credit: Indiatimes)

Six Stock Market action to look out for today

Watching the Sensex can be misleading-- India's mid and small cap stocks have lost ₹2.4 trillion of investor wealth this year alone

The food review and ordering industry in India has been flourishing significantly in the past few months due to the presence of aggregators who are making the most of the potential of a mobile first and home chef marketplaces. 
 The latest entrant to this booming industry is a mobile-only food marketplace called <keyword id="3065387" type="UNKNOWN" weightage="80" keywordseo="DishCo">DishCo</keyword> founded by Jimmy and Fida Shaw (in picture above) and backed by Mahindra Group chairman Anand Mahindra, Punj Lloyd founder Uday Punj, bookmyshow.com founder Ashish Hemrajani, and New York-based Sanjeev Mehra, partner at Goldman, Sachs &amp; Co, who have all turned angel investors for DishCo. 
 In a bid to stand out from the existing options in the market, DishCo primarily aims to be the one-stop solution app for one’s dining problems. Elaborating on the same, <keyword id="3065393" type="UNKNOWN" weightage="80" keywordseo="Jimmy-shaw">Jimmy Shaw</keyword>, says, “DishCo will be offering all services that existing apps offer such as food reviews, table reservations, food delivery, coupons and wallet services, but, all under one app. So, a user won’t have to download a number of different apps for the same.” Thus, a user can rank and share his/her favourite dishes, thus personalizing their eating out experience. 
 
DishCo is all about putting the fun back in dining, he claims. “The user interface goes far beyond asking the usual name, email ID and mobile number profile. The app instead maps user’s likes and requirements and then ensures that each user is dished out a unique offering and experience. DishCo allows a user to decide the offers he/she wants, chat with the outlets, answer queries and solve real problems that are sometimes encountered, give feedback directly to a restaurant to ensure that it is used by the outlet to improve upon future experiences.” 
 But, doesn’t reviewing a restaurant on <keyword id="830092" type="COMPANY" weightage="80" keywordseo="Zomato">Zomato</keyword> serve the same purpose too? According to Shaw, many review restaurants on these sites or on social media without completely understanding the nuances of the hospitality industry. More often than not, it ends up hurting the restaurant’s reputation rather than providing constructive criticism. 
 
“That’s where DishCo comes in by letting a customer connect directly with restaurant management,” says Shaw. 
 
Through the app, consumers can interact with the restaurants directly using the simple Resto Chat feature and convey their grievances or feedback. Eventually, the ability of the restaurant to retain patrons and to attract repeat customers will be dependent on the quality of their service, food, overall experience of the guests. 
 
“Our aim is to facilitate interaction between the consumer and the service provider and create a fruitful, result-oriented dialogue instead of a one-way feedback,” he says. 
At the moment, close to 8500 restaurants across Mumbai, Pune and Goa have signed up on DishCo and the process of registering restaurants is still ongoing. The app plans to soon expand to Delhi, Hyderabad and Bengaluru. 
 
“The objective is to ensure that high costs of marketing do not deter the smallest player from reaching out to the very same audience that the biggest player can otherwise easily grab. Thus, with DishCo, we are creating a fair marketplace with a level playing field for everyone,” he adds. 
 
Shaw’s business model is also a bit different from others. Unlike most food startups that either charge restaurants a commission for orders sourced through them or have a fleet to deliver food to customers, DishCo offers listing and ranking service without any fee. However, DishCo has a fixed subscription fee for restaurants that opt for booking tables, offering coupons, and other value-added services. 
 
Apart from this, another unique feature of this app is their ‘Pledge a meal’ campaign, which Shaw hopes proves to be a game-changer for them as well as a helping hand for the underprivileged section of the society. 
 
“With Pledge a Meal, DishCo’s objective is to ensure that no child should go to bed hungry and thus, we expect every restaurant that registers on DishCo to sign up for a minimum pledge of 1 meal @ Rs. 25/- for one child per day which costs Rs. 750/- per month.” 
 
The Pledge a meal button on the app also lets consumers to pledge 1, 5, 10, 100 or more meals using the white labeled DishCo wallet / Debit / Credit card / NEFT. These individual pledges show up against the donor’s name and shows their friends’ contributions as well to encourage a healthy pledging habit. Every time a user donates and pledges a meal, DishCo will send a coupon / offer for them to use and enjoy. 
 
“Our aim is to eventually reach out to 50,000 restaurants and generate over 1.5 million meal pledges per month or 18 million a year. Pledge amounts including DishCo’s own contribution go to the Food Marshal Charitable Trust, which is a registered trust in Delhi,” states Shaw. 
 
As Shaw reiterates, DishCo begins where all the other apps end. The need of the hour, he believes, is to bring about a course correction and shift the balance back in favor of the restaurants. 
 
“Instead of a one-way public feedback where the restaurant owners have no opportunity to respond, defend, even when a complaint or a review may be motivated, DishCo will provide a platform to initiate a dialogue between the customer and restaurant that aims at resolution,” he explains. 
 
That’s not all. Shaw also plans on launching DishCo outside India apart from covering 46 cities in the next 12 months, keeping both the interests of the user and service provider in mind. 
 
Image credit: DishCo

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