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<ul><li><keyword id="2179992" type="General" weightage="20" keywordseo="rbl-bank" source="Orion">RBL Bank</keyword> announced that its long-term CEO <keyword id="186752" type="General" weightage="20" keywordseo="vishwavir-ahuja" source="Orion">Vishwavir Ahuja</keyword> has gone on leave, with Rajeev Ahuja taking up the lead in the interim.</li><li>Apart from this, the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> also intervened by appointing an additional director on the bank’s board.</li><li>Now, reports suggest that <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and DMart’s <keyword id="6505089" type="General" weightage="20" keywordseo="radhakishan-damani" source="Orion">Radhakishan Damani</keyword> want to pick up a 10% stake in the bank.</li></ul>RBL Bank is in a mini crisis of sorts, with its long-term MD and CEO Vishwavir Ahuja going on a leave and the Reserve Bank of India appointing an additional director on the bank’s board. The stock tanked 20% on Monday (December 27), the first trading day after the decision was made public. <div type="image" title="RBL Bank 01_11_21 to 27_12_21." msid="88515164" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank share price since November, 2021&amp;lt;/p&amp;gt;"></div> The twist doesn’t end there, either – ace investors Rakesh Jhunjhunwala and DMart’s Radhakishan Damani have <a href="https://twitter.com/CNBCTV18News/status/1475296536980426752">reportedly</a> approached RBI to pick up a 10% stake in RBL Bank, likely to cash in on the opportunity on the horizon. On Friday, RBL Bank’s shares ended the day lower by nearly 3%. In 2021 so far, the company has lost a fourth of its value even as the Bank Nifty index gained over 11%. <cmsannotation type="cmsannotation" annotationid="Why is the RBI intervening in the affairs of RBL Bank?" comment="subhead" text="Why is the RBI intervening in the affairs of RBL Bank?">Why is the RBI intervening in the affairs of RBL Bank?</cmsannotation> While both RBI and RBL Bank have been tight-lipped about the trigger behind the central banker’s intervention, reports suggest that there’s likely more going on between the lines. One of the issues that has been repeated elsewhere is concerns about the asset quality of the bank – the gross non-performing assets (Gross NPA) ratio rose to 5.4% in the September quarter from 3.34% in the year before. Unpaid loans surged in the September quarter, as the moratorium on payments came to an end, particularly in the microfinance segment, which makes for 9% of RBL Bank’s total loan book. <div type="image" title="RBL Bank MFI GNPA ." msid="88516605" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank microfinance segment GNPA&amp;lt;/p&amp;gt;"></div> However, the rise in bad loans may not be reason enough for the RBI to step in. Earlier this year, RBI had approved Vishwavir Ahuja’s extension as the bank’s CEO till June, 2022. Ahuja going on leave mid-way through his term also signals that there are deeper issues at the bank which have not been disclosed to the public yet. “The sequence of events leading to the sudden exit of Mr. Vishwavir Ahuja along with the induction of Dayal from the RBI on the Board as additional member indicates that everything is not ok with the bank,” noted a letter by All India Bank Employees Association (AIBEA) to Finance Minister Nirmala Sitharaman. <cmsannotation type="cmsannotation" annotationid="If Jhunjhunwala and Damani are interested, there may be some things working at the bank" comment="subhead" text="If Jhunjhunwala and Damani are interested, there may be some things working at the bank">If Jhunjhunwala and Damani are interested, there may be some things working at the bank</cmsannotation> Billionaire investors Rakesh Jhunjhunwala and Radhakishan Damani reportedly want to pick up a 10% stake in RBL. The two are yet to comment on the matter and investors must take these unconfirmed reports with a handful of salt. As the following meme on social media reminds us: <div type="image" title="RJ RD RBL meme" msid="88516710" hostid="261"></div> According to RBL Bank’s new interim CEO Rajeev Ahuja, the bank’s financials remain strong. “These developments are not on account of any concern on advances, asset quality and deposits level of the bank. The bank has the full support of the RBI,” he said. In the September quarter, RBL posted a net profit of ₹30 crore as against a loss of ₹459 crore in the quarter before. This, the bank says, was due to an increase in provisions for the June quarter. Beyond the profits, RBL Bank’s fundamentals remain strong. Its liquidity coverage ratio stood at 155%, as against the 100% mandated by RBI. This means that in the short-term, the bank has enough cash to meet its obligations. RBL Bank’s credit card business – which constitutes 22% of the company’s total loan portfolio – has been a fast growing segment for the company. In fact, one broking firm, B&amp;K Research, recently argued that RBL’s credit card business is performing better than SBI Card, the country’s <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">second largest credit card issuer</a>. However, investors should keep in mind that it is still a small player with a 4% market share in the number of cards issued ⁠— even though it has grown from a mere 1% in 2017 ⁠— is trailing far behind SBI Card’s 19% market share. <cmsannotation type="cmsannotation" annotationid="How can the RBI appoint directors on a private bank’s board?" comment="subhead" text="How can the RBI appoint directors on a private bank’s board?">How can the RBI appoint directors on a private bank’s board?</cmsannotation> RBI has in the past appointed additional directors on the boards of banks like Yes Bank, Dhanlaxmi Bank, Ujjivan Small Finance Bank among others. According to Section 36AB of the Banking Regulation Act, 1949, RBI can appoint additional directors to protect the interests of the bank, its depositors, the banking regulations or the overall public interest. Update: Rakesh Jhunjhunwala has now <a href="https://twitter.com/blitzkreigm/status/1475310523960815622">denied</a> reports of acquiring a stake in RBL Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-zee-entertainment-hp-adhesives-and-adani-transmission-among-hot-stocks-on-december-27/slidelist/88514134.cms">RBL Bank, Zee Entertainment, HP Adhesives, and Adani Transmission among hot stocks on December 27</a> <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">Income Tax department reportedly raids Xiaomi, Oppo and OnePlus offices in India</a> <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">Here’s why Axis Bank may be willing to pay $2 billion to buy Citi’s India ops</a>

RBL Bank slumps 20% after CEO goes on leave

The impact of coronavirus carnage on Radhakishan Damani’s portfolio

<ul><li>Jhunjhunwala is one of the few billionaires in India whose net worth has surged during the nationwide lockdown in the country from March 23 to June 30. </li><li>Jhunjhunwala along with his family has increased his investments in listed companies by over 30% to ₹10,797 crore in the last four months. </li><li>Jhunjhunwala has 29 stocks in his portfolio, according to moneyexcel.com, ranging from Aptech Limited, Titan, CRISIL, Edelweiss Financial Services, Bilcare, Delta Corp among others. </li></ul>The market volatility may have investors jittery but there’s no stopping the Big Bull from adding to his coffers. Indian billionaire <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword> earned at least $40 million in the last four months, thanks to some of the new stocks he purchased during this COVID-19 lockdown in India. Moreover, Jhunjhunwala has become one of the few billionaires in the country to have increased their net worth during nationwide lockdown in the country from March 23 to June 30, according to Forbes real-time billionaires data. Apart from him, Radhakishan Damani and Mukesh Ambani saw a surge in their net worth. His latest investments include a 3.18% stake buy in Dishman Carbogen Amis. <div type="image" title="Rakesh Jhunjhunwala" msid="77081733" hostid="261"></div> <a href="https://www.business-standard.com/article/markets/rakesh-jhunjhunwala-s-portfolio-outperforms-net-worth-over-rs-10-000-crore-120072100483_1.html">According to Business Standard</a>, Jhunjhunwala along with his family has increased his investments in the listed companies by over 30% to ₹10,797 crore in the last four months. This includes increased investments in Rallis India, <keyword id="439363" type="ORGANIZATION" weightage="20" keywordseo="Jubilant-Life-Sciences">Jubilant Life Sciences</keyword> amongst other stocks. <div type="Article" hostid="261" msid="77102706" title="IndiaMart’s Dinesh Agarwal shares how the profit doubled during the lockdown" mstype="2" mssubtype="0"></div> These a<a href="https://trendlyne.com/portfolio/superstar-shareholders/53781/latest/rakesh-jhunjhunwala/">re the stocks that Jhunjhunwala has bet </a>on in the last three months: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Autoline Industries. </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;">Firstsource Solutions </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;">NCC </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;">Jubilant Life Sciences </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;">Indian Hotels </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;">Rallis India </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;">Dishman Carbogen Amcis </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;"></td></tr></tbody></table> Jhunjhunwala’s has 29 stock in his portfolios, <a href="https://moneyexcel.com/11499/rakesh-jhunjhunwala-portfolio-holdings/">according to moneyexcel.com</a>, <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Aptech Limited </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;">Man Infra Construction </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;">Ion Exchange </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;">Bilcare </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;">Spice Jet </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;">Geojit Financial Services </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;">Orient Cement </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;">Delta Corp </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;">Titan </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;">Prakash Industries </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;">MCX </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;">Mandhana Retail Ventures </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstsource Solution </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;">Dewan Housing Finance Corporation </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;">Federal Bank </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;">Rallis India </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;">Fortis Healthcare </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;">TV 18 Broadcast </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;">Lupin </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;">Jubilant Life Sciences </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;">CRISIL </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;">Yes Bank </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;">Edelweiss Financial 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;">Tata Communication </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;">Prakash Pipes </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;">Indian Hotels </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;">VIP Industries </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;">NCC Ltd. </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;">Autoline Industries Ltd. </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;">Dishman Carbogen Amcis </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and Astrazeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

Big Bull Rakesh Jhunjhunwala added nearly $40 million to net worth in the last four months⁠— these are the stocks he bet on

<ul class="summary-list"><li>Indian billionaires are leading losses on the Bloomberg Billionaires Index so far this year.</li><li>That's on the back of a massive selloff in Adani Group's listed businesses and the broader Indian market.</li></ul>India's billionaires are not having a great 2023 so far. A massive selloff in the listed companies of the Gautam Adani — India's richest man — following a shocking short-seller report, is spilling over into the country's markets.Adani Group's listed companies have lost <a href="https://www.bloomberg.com/news/articles/2023-01-30/most-adani-stocks-drop-as-rebuttal-draws-hindenburg-response" target="_blank" rel="noopener">more than $68 billion</a> in market capitalization since Hindenburg Research, a US short seller, released a scathing <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener nofollow">report</a> last Tuesday alleging "brazen stock manipulation and accounting fraud scheme" at the <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-hindenburg-allegations-net-worth-crash-2023-1">Adani Group.</a> Adani Enterprises, the conglomerate's flagship has lost over 25% in market value this year alone.The rout has pummeled Adani's net worth, which is down $36.1 billion this year so far — propelling him into the spot of top loser on the <a href="https://www.bloomberg.com/billionaires/" target="_blank" rel="noopener">Bloomberg Billionaires Index.</a> The Indian industrialist has also fallen off the list of the top 10 wealthiest people and is now the world's 11th richest person — slipping from the fourth position just last week.The Adani Group has been <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-net-worth-billionaire-world-richest-list-hindenburg-shortseller-2023-1">defending itself vigorously,</a> but Hindenburg's also doubling down on it's initial report.Adani is still the world's richest Asian, but his wealth wipeout shows the extent of losses in the Indian markets — which has spilled over to his fellow billionaires.Trailing Adani on the Bloomberg Billionaires Index are fellow Indian billionaires <a href="https://www.businessinsider.com/how-rich-mukesh-ambanis-india-2020-1">Mukesh Ambani</a>, <a href="https://www.forbes.com/profile/radhakishan-damani/?sh=3b6dc90440de">Radhakishan Damani</a>, and <a href="https://www.forbes.com/profile/savitri-jindal/?sh=3ae4a453dc37">Savitri Jindal</a>, who have lost about $5 billion, $2 billion, and $1 billion so far this year. Their net worth is down on the back of falling share prices in the companies they hold large stakes in.Ambani is the chairman and majority shareholder of Reliance Industries, a conglomerate, while Damani is the founder of Avenue Supermarts. The stock of both companies have posted losses this year so far.Share prices of most of Jindal's companies in her steel and power conglomerate are also down this year.The drama surrounding the Adani Group has hit overall market sentiment in the South Asian market — India's benchmark index, the <a href="https://markets.businessinsider.com/index/sensex">Sensex,</a> is down over 2% so far this year."Allegations of fraud at one of India's most valuable conglomerates, the Adani Group, have hastened the decline we expected in Indian equities as foreign investors rebalance their portfolios on <a href="https://www.businessinsider.com/stock-market-china-trade-investing-strategy-zero-covid-reopening-recession-2023-1">China's reopening,</a>" Shumita Deveshwar, the chief economist for India at macroeconomic consultancy TS Lombard, wrote in a Monday note seen by Insider.Investors are bound to intensify their scrutiny of Indian stocks, Deveshwar added, but the country's corporate governance metrics rank better than most emerging markets including Saudi Arabia, China, and Brazil, according to a November 2022 report from TS Lombard.

It's been a very bad month for Indian billionaires &mdash; four of the richest Indians have collectively lost about $45 billion in 2023

Global <keyword id="886809" type="General" weightage="20" keywordseo="smartphone-shipments" source="Orion">smartphone shipments</keyword> fell 9 per cent (year on year) in the second quarter (Q2) this year as Samsung led with a 21 per cent market share, a new report has said. Apple came second with a 17 per cent market share as the iPhone 13 remained in high demand. Xiaomi, OPPO and vivo continued to struggle in China, suffering double-digit declines to take 14 per cent, 10 per cent and 9 per cent market shares, respectively, according to research firm Canalys. Demand has started to wane following economic headwinds and regional uncertainty, the report noted. "Vendors were forced to review their tactics in Q2 as the outlook for the <keyword id="28168" type="General" weightage="20" keywordseo="smartphone" source="Orion">smartphone</keyword> market became more cautious," said Canalys Research Analyst Runar Bjorhovde. Economic headwinds, sluggish demand and inventory pileup have resulted in vendors rapidly reassessing their portfolio strategies for the rest of 2022. "The oversupplied mid-range is an exposed segment for vendors to focus on adjusting new launches, as budget-constrained consumers shift their device purchases toward the lower end," he added. Falling demand is causing great concern for the entire smartphone supply chain. "While component supplies and cost pressures are easing, a few concerns remain within logistics and production, such as some emerging markets' tightening import laws and customs procedures delaying shipments," said analyst Toby Zhu. In the near term, vendors will look to accelerate sell-through using promotions and offers ahead of new launches during the holiday season to alleviate the channel's liquidity pressure. But in contrast to last year's pent-up demand, consumers' disposable income has been affected by soaring inflation this year. "Deep collaboration with channels to monitor the state of inventory and supply will be vital for vendors to identify short-term opportunities while maintaining healthy channel partnerships in the long run," Zhu added. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-salary-in-2022-at-3-lakh-crore/articleshow/92957422.cms">IT biggies spent 62% of revenues on wages in FY22, salary bill at ₹3 lakh crore</a> <a href="https://www.businessinsider.in/india/news/indias-most-expensive-homes-dmarts-radhakishan-damanis-dream-home-cost-him-1001-crore/articleshow/92976542.cms">India’s most expensive homes: DMart’s Radhakishan Damani’s dream home cost him ₹1,001 crore</a> <a href="https://www.businessinsider.in/business/news/gautam-adani-is-the-only-indian-in-the-top-10-billionaires-club-ambani-slips-out-of-the-list/slidelist/92957663.cms">Gautam Adani is the only Indian in the world’s top 10 richest list</a>

Economic slowdown impacts smartphone industry, shipments decline by 9%

Lucknow, The Uttar Pradesh government has said that all <keyword id="37180" type="COMPANY" weightage="20" keywordseo="schools">schools</keyword> for <keyword id="3216" type="ORGANIZATION" weightage="20" keywordseo="students">students</keyword> of <keyword id="6405739" type="COMPANY" weightage="20" keywordseo="Classes">Classes</keyword> 9, 10, 11, and 12 will run in a single shift from Tuesday. The Classes will be run from 10 a.m. to 3 p.m. for all educational boards as per the notice. Schools across the country were shut due to curb the spread of the Covid-19 pandemic. The schools and colleges in Uttar Pradesh were reopened on October 19 in two shifts, with several safety guidelines set into place by the state government and the health department. However, most schools recorded abysmally low attendance as many students preferred to stay away. Safety measures like strict social distancing, thermal checks at entry points, wearing of masks and face covers, and regular washing of hands have been made mandatory for all the students and staff attending regular classes in schools. Additional Chief Secretary, <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="education">Education</keyword>, Aradhana Shukla, said, "Keeping in mind the weather conditions, it has been decided to allow schools to run in one shift." An order to this effect was issued on Monday night. The representatives from unaided private schools had met Deputy Chief Minister Dinesh Sharma, who also holds the education portfolio, and had sought permission to hold classes in one shift only. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on</a> <a href="https://www.businessinsider.in/tech/gadgets/news/oneplus-band-with-24-hour-heart-rate-monitoring-14-days-battery-life-launched-in-india/articleshow/80209025.cms">OnePlus Band with 24-hour heart rate monitoring, 14 days battery life launched in India</a> <a href="https://www.businessinsider.in/business/ecommerce/news/radhakishan-damani-dmart-ready-takes-cautious-steps-against-jiomart-and-amazon/articleshow/80209971.cms">Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce</a>

Uttar Pradesh government allows schools for classes 9 to 12 to run in single shift from January 12

New Delhi, <keyword id="215177" type="DOMAIN" weightage="20" keywordseo="Vivo">Vivo</keyword> on Monday announced the expansion of its Y series portfolio with the launch of all-new Vivo Y51A in India. Priced at ₹17,990 for the 8GB RAM + 128GB ROM (expandable up to 1TB), the <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> is available for purchase in two colour options- titanium sapphire and crystal symphony on the company's e-store, Amazon, Flipkart, Paytm, <keyword id="3381208" type="COMPANY" weightage="20" keywordseo="TataCLiQ">Tatacliq</keyword> along with all partner retail stores. The smartphone features a 16.71cm (6.58) Halo FullView display with FHD+ (2408X1080) resolution, providing a wide and immersive experience for both videos and games. The device is powered by an advanced <keyword id="104695" type="LOCATION" weightage="20" keywordseo="Qualcomm">Qualcomm</keyword> <keyword id="1246180" type="LOCATION" weightage="20" keywordseo="snapdragon">Snapdragon</keyword> 6-series processor. It also comes with the latest Funtouch OS 11, which is based on Android 11 for providing the latest Android experience. The Vivo Y51A offers 48MP <keyword id="1413980" type="PERSON" weightage="20" keywordseo="Rear-camera">rear camera</keyword>. The rear camera also offers Ultra-Stable video with Electronic Image Stabilization (EIS) technology that aligns individual frames and automatically corrects unstable movements. It also has Super Night Camera capabilities for both front and rear which aims to reduce the noise and captures beautiful shades of the night even in low light. The triple camera setup also lets you take wider shots with a wide-angle lens and close-up macro shots with the dedicated macro lens. On the front, the smartphone has a 16MP camera for brilliantly clear selfies. The device boasts a long-lasting battery of 5000mAh with 18W Fast Charge ensuring an unstoppable smartphone experience along with a reverse charging feature. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on</a> <a href="https://www.businessinsider.in/tech/gadgets/news/oneplus-band-with-24-hour-heart-rate-monitoring-14-days-battery-life-launched-in-india/articleshow/80209025.cms">OnePlus Band with 24-hour heart rate monitoring, 14 days battery life launched in India</a> <a href="https://www.businessinsider.in/business/ecommerce/news/radhakishan-damani-dmart-ready-takes-cautious-steps-against-jiomart-and-amazon/articleshow/80209971.cms">Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce</a>

Vivo Y15A with triple cameras, 5,000mAh battery launched at ₹17,990

New Delhi, <keyword id="13722" type="COMPANY" weightage="20" keywordseo="Lenovo">Lenovo</keyword> on Tuesday unveiled its thinnest <keyword id="141370" type="COMPANY" weightage="20" keywordseo="ThinkPad">ThinkPad</keyword> ever, '<keyword id="10582747" type="UNKNOWN" weightage="20" keywordseo="thinkpad-x1-titanium-yoga">ThinkPad X1 Titanium Yoga</keyword>' along with ThinkPad X1 Carbon Gen 9 and X1 Yoga Gen 6 among others at the CES 2021. ThinkPad X1 Titanium Yoga will available to order starting this month with prices starting at $1,899, while ThinkPad X1 Carbon will be available from $1429. ThinkPad X1 Yoga is expected to start from $1569 and <keyword id="10582746" type="COMPANY" weightage="20" keywordseo="thinkpad-x12-detachable">ThinkPad X12 Detachable</keyword> will be available at $1149. Covered in titanium material, it's over 11mm thin and features a 3:2 ratio, 13.5-inch low power display, along with <keyword id="2003744" type="COMPANY" weightage="20" keywordseo="dolby-vision">Dolby Vision</keyword> HDR support and Dolby Atmos Speaker System, the company said. ThinkPad X1 Carbon Gen 9 and X1 Yoga Gen 6 are completely redesigned <keyword id="6367615" type="UNKNOWN" weightage="20" keywordseo="Laptops">laptops</keyword> introducing improved user experiences built around all-new 16:10 aspect ratio displays with a low blue light feature, an integrated fingerprint reader on the power button and new ComputerVision Experiences (CVx) support. The new laptops come with Dolby Vision and Dolby Atmos Speaker System, both X1 Carbon and X1 Yoga are the world's first laptops to support Dolby Voice, which delivers a supreme conferencing experience that feels more natural, reduces listener fatigue, and sounds stunningly clear to make meetings more productive. The new models join the X1 Fold and ultra-light X1 Nano announced last September to complete a comprehensive 5G-ready premium ThinkPad X1 portfolio. Furthermore, the company also introduced all-new ThinkPad X12 Detachable, combining the features of a high-performance laptop with the flexibility of a 12.3-inch detachable tablet. Protected by <keyword id="2441568" type="PERSON" weightage="20" keywordseo="Corning-Gorilla-Glass">Corning Gorilla Glass</keyword>, the display supports input from the optional Lenovo Precision Pen or Lenovo Digital Pen and the backlit folio keyboard enables seamless transition between modes. The ThinkPad X1 portfolio (X1 Fold excepted) is designed on Intel Evo platform and powered by 11th Gen Intel Core processors with Intel Iris Xe graphics to deliver improved speed and intelligence. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/radhakishan-damani-dmart-ready-takes-cautious-steps-against-jiomart-and-amazon/articleshow/80209971.cms">Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-cashes-in-another-cheque-from-swedish-billionaire-martin-hp-sderstrm-for-its-vacation-homes-business-in-europe/articleshow/80214916.cms">OYO cashes in another cheque from Swedish billionaire Martin HP Söderström for its vacation homes business in Europe</a> <a href="https://www.businessinsider.in/tech/apps/how-to/how-to-backup-and-restore-messages-in-signal-app/articleshow/80226649.cms">How to backup and restore messages in Signal app</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-says-your-privacy-wont-be-affected-if-you-dont-use-these-features/articleshow/80225748.cms">WhatsApp says your privacy won't be affected if you don't use these two optional features</a>

Lenovo launches ThinkPad X1 Titanium Yoga, X1 Carbon Gen 9, X1 Carbon Gen 6 and more at the CES 2021

As the coronavirus continues to spread state governments are shutting down all places which allow public gatherings and that includes offices. As 125 people have <a>infected</a> and several others are under observation and quarantine. To control the spread, several <a href="https://www.businessinsider.in/india/news/wipro-asks-employees-to-work-from-home-coronavirus-outbreak/articleshow/74662704.cms">companies</a> <a href="https://www.businessinsider.in/business/news/coronavirus-flipkart-offers-work-from-home-for-employees-with-small-children/articleshow/74599857.cms">asked</a> their employees to <a href="https://www.businessinsider.in/science/health/news/tips-to-work-from-home-during-the-coronavirus-outbreak/articleshow/74578274.cms">work from home</a> temporarily. If you are working from home, it is important to stay connected with your colleagues and video calling is a good tool to help you communicate without having to go out. In an unprecedented move, the eight countries of SAARC recently held a <a href="https://www.businessinsider.in/india/news/coronavirus-india-offers-10-million-to-saarc-for-emergency-funds/articleshow/74639920.cms">web-summit</a> to work on a strategy to contain coronavirus. Best video calling apps to use during coronavirus These are the apps that will help you stay connected to your friends as well as colleagues. Zoom Zoom is a popular <keyword id="76949" type="TECHNOLOGY" weightage="20" keywordseo="video-conferencing">video conferencing</keyword> software and supports up to 1,000 participants and limits group sessions to 100. To help users during the coronavirus outbreak, Zoom removed time limits from the free accounts in the affected regions. It is also allowing schools to hold classes. Platforms – Windows, Mac, Android and iOS. Microsoft Teams Teams, a popular productivity tool from Microsoft has a host of features that help you work together with your team. Due to the coronavirus, the app saw a surge in use and Microsoft announced that the premium version of Teams will be available for free for the next six months. Platforms – Windows, Mac, Linux, Android and iOS. Cisco WebEx WebEx offered by Cisco is available in free and paid tiers. It offers HD video calling and various collaboration tools such as screen sharing and personal rooms to help you connect with your team. The free tier allows you to hold meetings in HD with up to 100 participants. Platforms – Windows, Mac, Android and iOS. Google Hangouts Meet Google Hangouts Meet allows teams to easily collaborate while working from home. It is a part of Google’s G Suite and supports up to 50 participants with a fairly good video quality. Google announced that Education customers globally will get access to advanced features of Google Hangouts Meet for free till July 1. Platforms – Windows, Mac, Linux, Android and iOS. Skype While most features of Skype for Business have been moved to Microsoft Teams, Skype is still useful for small teams to connect easily. It allows group calls of up to 50 persons at once. Platform – Windows, Mac, Linux, Android and iOS. Others Apart from these, you can also use FaceTime, Google Duo, WhatsApp video calls and Facebook for quick video calls. See also: <a href="https://www.businessinsider.in/india/news/coronvirus-in-india-map-and-data/articleshow/74666694.cms">Coronavirus in India — a visual guide to how the Covid-19 infection is spreading in the country</a> <a href="https://www.businessinsider.in/science/health/news/tips-to-work-from-home-during-the-coronavirus-outbreak/articleshow/74578274.cms">Tips to work from home during the coronavirus outbreak</a> <a href="https://www.businessinsider.in/business/news/the-impact-of-coronavirus-carnage-on-radhakishan-damanis-portfolio/articleshow/74661795.cms">The impact of coronavirus carnage on Radhakishan Damani’s portfolio</a>

Best video calling apps for all those forced to work from home

ealth does not remain static especially during the fluctuating industry scenario today. India has produced several billionaires who occupy a significant number of slots on the list of wealthiest persons in the world today. Here is the list of the top 10 richest persons in India as per their latest real time Forbes data on 11 October 2021. 1. Mukesh Ambani - $102 billion The wealthiest person in India, Mukesh Ambani of Reliance Industries occupies the Tenth slot in the world’s richest persons’ list. Mukesh Ambani has a net worth of $102 billion. Much of Mukesh’s wealth ensues from the petrochemicals and oil and gas businesses built by his father Dhirubhai Ambani ⁠— a business icon in his own right— but Mukesh is pivoting to more consumer-facing businesses like telecom and retail. Reliance Jio is one of the largest telecom networks in India today and has <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">already raised over $20 billion in recent months</a> and the next leg of fundraising <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">will be for retail</a>. 2. Gautam Adani - $71.7 billion Gautam Adani’s net worth as per the latest forbes records is $71.7 billion. He is the Second <keyword id="7413735" type="General" weightage="20" keywordseo="richest-person-in-india" source="Orion">richest person in India</keyword> and ranks 15 on the list of the world’s richest. Apart from Mundra Port, the largest in India, his wealth-generating portfolios include a range of commodities, power generation including renewable energy (like solar farms), and transmission to name a few. 3. Shiv Nadar - $31.5 billion With his $31.5 billion estimated net worth, Shiv Nadar ranks as the third richest person in India. HCL Technologies founded by him is a (₹) 274826 crore (market value) company and one of the largest software services exporters in the world today. With its presence in over 45 countries on the globe, HCL Technologies makes Shiv Nadar claim the 41th slot in the list of world’s richest persons. 4. Radhakishan Damani &amp; Family - $ 22.1 billion Radhakishan Damani’s net worth of $22.1 billion, which makes him the fourth richest person in India today. He occupies the 101 position in the global rich list. Radhakishan Damani is a veteran Mumbai stock market investor who founded <a href="https://www.businessinsider.in/business/news/radhakishan-damani-has-a-string-of-challenges-ahead-of-him-and-falling-profits-at-dmart-dont-help/articleshow/76936913.cms">the supermarket chain DMart </a>which went public in 2017, and eventually went on to be the world’s most-valued retail chain for its unique model that makes the holding company Avenue Supermarts more profitable than many of its peers. 5. Savitri Jindal &amp; Family - $18.6 billion Standing at the 106th position in the world and the richest woman in India is Savitri Jindal, the 70-year-old chair of a multibillion dollar conglomerate, who's worth $18.6 billion. India's women billionaires also include the heads of pharmaceutical, software, and consumer goods companies. 6. Cyrus Poonawalla - $18.2 billion Ranked as the 6th wealthiest person in India, Cyrus Poonawalla has a net worth of $18.2 billion. He founded the Serum Institute of India in 1966 and it is today the largest producer of vaccines for measles, influenza and polio. At present, the company is also co-developing two vaccines for COVID-19 and has a <a href="https://www.businessinsider.in/science/health/news/adar-poomawala-says-oxfords-covid-vaccine-is-expected-to-hit-the-indian-market-in-the-first-quarter-of-2021/articleshow/77107541.cms">significant lead over other similar researches that are underway</a>. In the world’s wealthiest persons list he ranks in the 110th position. 7. Lakshmi Mittal - $ 17.6 billion The Chairman and CEO of ArcelorMittal, Sunil Mittal has a net worth of $17.6 billion and ranks as the Seventh richest person in India. His wealth status positions him in the 115 place on the world’s richest persons list. He is known for turning sick steel producing companies into profitable ventures across the world. He most recently bagged the bankrupt Essar Steel in India, which was owned by the Ruia family. 8. Kumar Birla - $16.1 billion Standing at the 131th position in the world’s richest persons’ list, Kumar Birla has a net worth of $16.1 billion, which makes him the Eighth wealthiest person in India. The head of Aditya Birla Group which he inherits for the fourth generation in row, his group is concerned with producing cement and aluminum alongside retail, telecom and financial services. 9. Uday Kotak - $16.1 billion The founder of Kotak Mahindra Bank, Uday Kotak, occupies the fifth position on the list of India’s richest. With a net worth of $16.1 billion, Kotak takes 132nd place on the world’s richest persons’ list. 10. Dilip Shanghvi - $14.4 billion The tenth richest person in India is Dilip Shanghvi whose latest net worth is $14.4 billion. The founder of Sun Pharma, Dilip Shanghvi has turned his firm into the largest player in the manufacturing of specialty generic drugs. He has also invested in energy and oil ventures. On the world’s richest persons’ list, he ranks in the 146th position. See Also - <a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms">Top 10 richest people in the world</a> <a href="https://www.businessinsider.in/top-10-largest-economies-in-the-world/articleshow/70547252.cms">Top 10 largest economies in the world</a> <a href="https://www.businessinsider.in/finance/news/list-of-top-20-richest-people-in-the-world/articleshow/74475220.cms">Top 20 richest people in the world</a>

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