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<ul><li>A young <keyword id="111343" type="General" weightage="80" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> quit college to become a diamond trader, in spite of his academic competence. </li><li>A book by R N Bhaskar, ‘Gautam <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword>: Reimagining Business in India and the World’ throws light on the billionaire’s life. </li><li><keyword id="3809272" type="General" weightage="80" keywordseo="gautambhai" source="Orion">Gautambhai</keyword> would have preferred to embrace the earn-and-you-learn model for growth and development, the book says. </li><li>An excerpt from the book that’s slated to launch on November 7, 2022. </li></ul>For Gautambhai, life is all about transformation. First, he transforms himself, and then he expects this from others as well. And while he is great at delegation, he expects every member of his team to report to him directly on the progress of the work he has been assigned. He lends a hand, if the job has hit an unexpected obstacle and helps to decide quickly on the go/no-go options. Even today, he works for nearly eleven to twelve hours a day at his office. In earlier years too, nobody ever thought of him as a contented child, or at peace with the world. For him, life offered, at each stage, one more opportunity to push forward, one more chance to dream the impossible dream. As the previous chapter stated, the favourite word to describe him was toofani. Gautambhai moved to Ahmedabad with his parents in the early 1970s, and his academic competence won him an admission at Sheth C.N. Vidyalaya, in 1974, a highly reputed school in Ahmedabad. He appeared for his secondary school exams (SSC) in 1977; his performance won him admission in the coveted science stream in Standard XI at the school. After heeding his uncle’s advice, the teenager decided to move to Bombay (now <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword>) to pursue his dreams. He stayed with his elder brother Vinodbhai, a wholesaler of cut-piece fabrics for Bipin Mills and Rajesh Mills, and decided to try his hand at trading in diamonds. Gautambhai would have preferred to embrace the earn-andyou-learn model for growth and development. But the fates had other plans for him. <cmsannotation type="cmsannotation" annotationid="Diamonds beckon" comment="subhead" text="Diamonds beckon">Diamonds beckon</cmsannotation> Gautam studied for a couple of months at a South Mumbai college. The diamond trading office was very close to the college. He went to the diamond markets in the morning, learned diamond sorting and assessment at Mahendra Brothers and then went to college. But in his attempt to excel at business, he found it difficult to mark attendance at college. Realizing that he could not meet attendance norms as well as do business the way he wanted to, he decided, within six months of life as a college student, to become a full-time diamond trader in Dhanji Street. Devendra R. Amin, who has now retired from the <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, and who was senior VP, corporate communications, says, ‘Gautambhai is not constrained by a “formal” education. Formal education teaches you what has been done and how it has been done in the past in a variety of disciplines ranging from science to business. Gautambhai was lucky that he did not go through such an education, which normally produces consultants and not entrepreneurs, or say, “worker bees” and not the “queen bee”. What is needed for growth and progress is the queen bee. A lack of formal education allows him to think out of the box and make swift decisions.’ Vinod Adani recalls how within a month of joining college, Gautambhai had begun to feel burdened by the pressures of attending college and coping with the demands of the diamond trade. He would be so tired that he would often go to sleep in the suburban train, overshooting the station he was supposed to get off at. Everything conspired to the eventual decision to give up studying. He began to solely focus on diamond trading instead. He entered into a partnership with his maternal cousins, Girish and Prakash, to trade in diamonds. In many ways, diamond trading honed Gautam’s instincts in finance. Diamonds, being very precious stones, are traded on wafer-thin margins—just a few basis points. Just to give an idea on how the diamond trading works: trades must be concluded quickly, because diamonds are purchased in one country and in one currency, sorted and traded in another country, then (usually) cut and processed in India. The process pipeline is usually three to six months. They are then sold to a fourth country. The longer the time, the greater are the exchange risk variables, and the interest burden on the inventory. One has, therefore, to meet other diamond traders in quick succession, show them samples of the stones you have, make a quote, and quickly strike a deal. Most commitments are oral in nature, and trades are settled in cash within a couple of days at best. Deals, at the smallest broker’s level, were worth a few thousand rupees in those days (in today’s values the trades would be upwards of Rs 1 lakh), or a few tens of thousands at most. Even in those days, Girish talks about Gautambhai’s overarching desire to strike big deals. He recalls how one day, Gautambhai had gone out with some diamonds, had sold them to a trader without informing his office, and then left for a couple of days’ holiday. When Girish returned to his office, he found the inventory short by diamonds worth Rs 1.5 lakh, a princely sum in those days. But there was nothing to show that a corresponding amount of money had been deposited in the bank. He waited for Gautambhai’s return. A few days later, Gautambhai returned to Mumbai and breezily informed his cousins that he had struck a deal with another trader for this huge amount and had happily gone back home to his native place, confident that a spoken deal was enough to ensure that he would get his money back. Unfortunately, the trader could not pay back in time, and failed to turn up at the diamond market. Nor would he take telephone calls. Promptly, Gautam and Girish worked out a plan. They decided to go to the trader’s house at 6 a.m. when the milk delivery boy rang the doorbell. The wife was surprised to see two young boys there. They then explained their purpose, and finally met the trader. The trader said that he had fallen on bad days and, after a bit of negotiation, finally settled his part of the trade with an offer of another set of precious stones. There wasn’t much profit that Gautam and Girish made in this transaction, but the deal got squared off. That was perhaps Gautam’s first brush with the unexpected factors in trading. (The excerpt has been reproduced with permission from Penguin Random House, the publishers of the book.) SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rural-recovery-underway-says-morgan-stanley/articleshow/94935646.cms">Rural recovery underway says Morgan Stanley</a> <a href="https://www.businessinsider.in/business/corporates/news/two-in-three-ceos-in-india-expect-a-recession-in-12-months-says-survey/articleshow/94934951.cms">Two in three CEOs in India expect a recession in 12 months says survey</a> <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-puts-in-place-plan-to-take-group-valuation-to-1-trillion/articleshow/94857619.cms">Gautam Adani puts in place plan to take Group valuation to $1 trillion</a>

Gautam Adani’s early lesson in diamond trading – a job that he left college for

<ul><li>Sony Sports has played a key role in bringing non-cricket sports to India.</li><li>This year, Sony Sports is the official broadcaster of the once-in-a-four-year global sports event, Tokyo Olympics.</li><li>Rajesh Kaul, Chief Revenue Officer, Distribution and Head – Sports Business, Sony Pictures Networks India tells us how the broadcaster is trying to popularize other sports in India, its plans to immerse consumers with innovative marketing and more.</li></ul>With the lockdown being enforced, subsequent stoppage of play on the field and IPL getting postponed, advertisers have been starved of a good sporting tournament. After the pandemic, many sports properties have either been cancelled or postponed, directly affecting India’s ad revenue and sponsorship pie. While India’s most worshipped sport, cricket, still dominates viewership and sponsorship, <keyword id="3132005" type="PERSON" weightage="20" keywordseo="Sony-Pictures-Network">Sony Pictures Network</keyword> (SNP) has given its fans more choices between sporting events and SonyLiv has given them options in terms of what, when and how much to watch, leading to a rise in demand for subscription viewing in live sports. After a long, dry spell, millions of Indians are expected to tune into Tokyo Olympics this year. Sponsors and brands have also started seeing the Olympics as the one occasion to capitalise on the media and consumer attention. As a result, Sony Sports has seen an uptick in demand from sponsors and advertisers across categories for the summer games. To help its advertisers get the best bang for their buck, SPN launched an ‘innovative’ advertising format ‘Split-screen ads,’ which has <a href="https://twitter.com/Archit_0106/status/1418542834395729923">gained </a><a href="https://twitter.com/PrashantMUFC/status/1420988968238161920">mixed </a><a href="https://twitter.com/LifeIsAnElation/status/1418552243893116935">reviews </a>on social media. We caught up with Rajesh Kaul, Chief Revenue Officer, Distribution and Head – Sports Business, Sony Pictures Networks India to further understand what kind of response the broadcaster and streaming player has seen from advertisers and sponsors, how it is trying to increase non-sporting events’ viewership in india <cmsannotation type="cmsannotation" annotationid="Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?" text="Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?">Q. This year, brands across categories have started to roll out campaigns celebrating the inspirational journey of athletes. This wasn't the case a few years ago. More and more advertisers are exploring international sports that represent India. Are advertisers open to exploring sports beyond cricket now?</cmsannotation> Indians have always been extremely supportive of the Indian athletes when they compete at a global stage. Their performances are celebrated as it is a huge thing to even get to participate, let alone winning a medal at Olympics. More and more business houses/organizations/brands have started promoting various athletes and or Indian contingent. Sports in India is growing dramatically as an entertainment option beyond just cricket. This year. Sony Sports has embarked on a mission to popularize the athletes participating in the <keyword id="7932992" type="UNKNOWN" weightage="20" keywordseo="olympic-games-tokyo-2020">Olympic Games Tokyo 2020</keyword> and to make them household names. Sony Sports launched the grandest ever campaign in the history of Indian Olympics, Hum Honge Kamyab to galvanize the whole nation to cheer for the India contingent. From the honorable Prime minister of India himself to the sports minister as well as industrialists, sports personalities, philanthropists, Bollywood Superstars, Youtube influencers joined us in our endeavor. Sony Sports has collaborated with the Ministry of Youth Affairs and Sports as well as eminent personalities and joining the brigade are Union Minister for I&amp;B and Youth Affairs &amp; Sports, Shri Anurag Thakur, General Bipin Rawat, Chief of Defence Staff and Chairman Chiefs of Staff Committee and Mr. N.P. Singh, MD &amp; CEO, Sony Pictures Networks India, along with Amitabh Bachchan, Akshay Kumar, Anupam Kher, Sajjan Jindal, Sudha Murty, Nita Ambani, Gautam Adani, Rana Daggubati, Yuvraj Singh, Anjali Bhagwat, Parth Jindal, Boman Irani, Farhan Akhtar, Sonakshi Sinha, Johnny Lever, Ali Fazal, Adille Sumariwala, Arshad Warsi, Pullela Gopichand, Vijender Singh, Anjali Bhagwat, Harsha Bhogle, Shankar Mahadevan, Anurag Basu, and many more to catalyze the Olympic momentum in the nation for the landmark event. This was unprecedented and Sony Sports’ efforts have pumped up the volume of Olympics in India and the #Olympicsjosh decibels have gone up to another level. <div type="Youtube" id="-bnwo0ezgQE" title="Watch PV Sindhu, Manu Bhaker, Mary Kom, Deepak Kumar, Hockey (M) &amp; others LIVE, TOM, July 25 on Sony" thumbUrl="https://i.ytimg.com/vi/-bnwo0ezgQE/mqdefault.jpg"></div> <cmsannotation type="cmsannotation" annotationid="Q. Can you tell us what kind of interest you have seen from advertisers and brands?" text="Q. Can you tell us what kind of interest you have seen from advertisers and brands?">Q. Can you tell us what kind of interest you have seen from advertisers and brands?</cmsannotation> We have received a phenomenal response from advertisers and we have got sponsors on board across categories like beverages, FMCG, education, automobiles, banking, finance, gaming, sports foundations amongst others. The sponsors are Coca-Cola India Pvt. Ltd., LIC, JSW, MPL, Hero MotoCorp, Amul, Reserve Bank of India, AMFI and other advertisers include Visa, Byju’s, Adani Group, Herbalife Nutrition &amp; Lenovo and more. <cmsannotation type="cmsannotation" annotationid="Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?" text="Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?">Q. This once-in-a-four-year sports event attracts eyeballs from across the world hosting sports such as shooting, wrestling, long jump, and hockey. Which sport do you think will perform the best in India in terms of viewership?</cmsannotation> We expect great Sports like Wrestling, Shooting, Archery and Hockey, which have also done extremely well on TV in the past, due to the medal winning performances by Indian Athletes. Additionally, there has been high interest to watch Athletics and Gymnastics, owing to the visually engaging nature of the sports. During the 2016 Rio Olympics, Badminton had the highest viewership owing to PV Sindhu winning a silver medal. The final match between PV Sindhu and Carolina Marin was watched by 42 million viewers across the country. This year, we have our largest contingent ever of 127 athletes travelling to Tokyo and the whole nation will want to support and watch our athletes in the various sports disciplines they are competing in like boxing, wrestling, tennis, athletics, badminton, hockey, shooting, archery, weightlifting, Equestrian, Table tennis and more. Some of the athletes that the audiences are already looking out for are Manu Bhaker and Saurabh Chaudhary in shooting, Vinesh Phogat and Bajrang Punia in wrestling, Amit Panghal and Mary Kom in boxing, Deepika Kumari and Atanu Das, PV Sindu in badminton and more. Also, for the first time, we will see participation in fencing with Bhavani Devi and Fouaad Mirza making it to the equestrian event which will also attract audiences. Additionally, to reach out to a wider audience and engage viewers across India, Sony Sports will have a Live wraparound studio show called SPORTS EXTRAAA with a distinguished panel that comprising former Olympians and legendary Indian athletes like Vijender Singh, Gagan Narang, Karnam Malleswari, Anjali Bhagwat, Anju Bobby George, Sakshi Malik, Viren Rasquinha, Somdev Devvarman, Trupti Murgunde, Rahul Banerjee, Kripa Shankar and Satish Shivalingam. We will also have the world-renowned Sprinter and four-time Olympic medalist, Yohan Blake, considered to be the second fastest man after Usain Bolt as a marquee expert on the show. The comprehensive coverage for the global event will be broadcast LIVE in four languages: SONY TEN 2 and SONY SIX channels in English, SONY TEN 3 channels in Hindi and in Tamil &amp; Telugu on the newly launched SONY TEN 4 channels. <cmsannotation type="cmsannotation" annotationid="Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?" text="Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?">Q. How do brands get to benefit from advertising on Olympics through Sony this year? What is your advice to brands who are advertising? How can they get the best bang for their buck?</cmsannotation> The Olympic Games is an extremely premium global sporting event, the greatest show on earth with 200+ countries, 11000+ athletes across 339 events in 33 different sports, encompassing a total of 50 disciplines. As I mentioned earlier, this year, we have rolled out the grandest campaign for this showcase event involving 30+ luminaries across the country. The sheer association to the Olympics for any brand will create and drive great brand perception and awareness value. We have offered value-based propositions to our clients and have ensured that we amplify their associations with athletes in the Indian contingent which they might be sponsoring. The brands have also been given the opportunity to ride on the back of the amazing build- up programming which we have locally produced adding to the brands association and visibility. Series like “Torch bearers” are resonating well with our audiences. We are also excited to offer a new breakthrough innovation “Split Screen” advertisement opportunity during the live broadcast. This will help the brands break away from the clutter and amplifies the brand’s visibility manifold without intruding into the viewing experiences of our audiences. This new technology is a game changer and will surely get the best ROI for our key sponsors. <cmsannotation type="cmsannotation" annotationid="Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?" text="Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?">Q. How do you think sports marketing has changed in India in the last few years? Any interesting trends that you are expecting to see as we move forward?</cmsannotation> While Indian Cricket will dominate viewership and revenues, Sony Sports has been consistently making efforts to massify and popularize other sports. Sony Sports is a global multi-sporting arena and sports marketing here, is not only talks to the purists but also focuses on attracting fence-sitters and newer audiences to join the Sony Sports community. This has paid off and every year our viewership for sports like WWE, UFC, football properties like UEFA Champions League and non-India cricket is steadily growing. Even the recently concluded UEFA EURO 2020 on our sports channels has seen massive growth compared to the last edition in 2016 by almost 70% Sports as an entertainment quotient is only going to grow.

Sony Sports has embarked on a mission to popularize the athletes participating in the Olympic Games Tokyo 2020 and to make them household names: Rajesh Kaul of SPN

<keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> CEO and <keyword id="6696063" type="UNKNOWN" weightage="20" keywordseo="md-rajesh-gopinathan">MD Rajesh Gopinathan</keyword> took home a pay package of about ₹20.36 crore in 2020-21, according to the company's annual report. In 2019-20, Gopinathan had received a total remuneration of ₹ 13.3 crore. According to TCS' annual report for 2020-21, Gopinathan received ₹ 1.27 crore in salary, ₹2.09 crore in benefits, perquisites and allowances, and ₹ 17 crore in commission. TCS Chief Operating Officer N Ganapathy Subramaniam drew a pay package of about ₹16.1 crore in the last financial year. This includes ₹1.21 crore in salary, ₹1.88 crore in benefits, perquisites and allowances, and ₹13 crore in commission. The increase in the managerial remuneration for the year was 55.22 per cent, the report said. "Increase in the managerial remuneration for FY2021 is not comparable with FY2020 owing to decrease in remuneration of 15 per cent in FY2020 in view of the economic conditions impacted by the COVID-19 pandemic wherein the Directors had decided to moderate the executive remuneration for FY2020 to express solidarity and conserve resources," it added. The average annual increase in salaries was 5.2 per cent in India. However, during the course of the year, the total increase is approximately 6.4 per cent, after accounting for promotions and other event-based compensation revisions. Employees outside India received a wage increase varying from 2 to 6 per cent, the report said. The increase in remuneration is in line with the market trends in the respective countries, it added. The report said the percentage increase in the median remuneration of employees in FY2021 was 0.03 per cent. TCS' permanent employee base was at 4,48,649 at the end of 2020-21 fiscal year. The 26th Annual General Meeting of the Mumbai-based company will be held virtually on June 10, 2021. TCS Chairman N Chandrasekaran said the company sees immense opportunities for growth, riding the new technology cycle that has kicked off, powered by the belief that its differentiated capabilities and collaborative, solution-centric approach makes it the preferred transformation partner of its customers. "It is building on that belief, and investing in sharpening the capabilities needed to expand its footprint in this large opportunity," he said in his letter to the shareholders. Despite a sharp fall in revenues in the first quarter, TCS made a swift recovery during the rest of the year and clocked full year revenues of ₹ 164,177 crore in FY2021. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/mobile/news/xiaomi-oppo-vivo-and-poco-extend-warranties-by-up-to-two-months-due-to-covid-19-lockdowns-and-restrictions/articleshow/82763113.cms">Xiaomi, Oppo, Vivo and Poco extend warranties by up to two months due to COVID-19 lockdowns and restrictions</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/mobile/news/android-12-beta-how-to-download-and-install-it-on-pixel-oneplus-xiaomi-realme-phones-among-others/articleshow/82760990.cms">Android 12 beta – how to download and install it on Pixel, OnePlus, Xiaomi, Realme phones among others</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a>

TCS CEO took home over ₹20 crore pay in the last financial year, as managerial hike goes up by 55%

<a href="http://www.businessinsider.in/Foxconn-Adani-coming-together-to-produce-electronics-in-India/articleshow/47830527.cms">Adani Enterprises</a>, the flagship firm of <a href="http://www.businessinsider.in/CBI-Registers-Preliminary-Inquiry-Against-Adani-Group/articleshow/38995066.cms">Adani</a> Group, signed Rs. 25,000 crore MoU with the <keyword id="110843" type="ORGANIZATION" weightage="100" keywordseo="Chhattisgarh-government">Chhattisgarh government</keyword> for setting up urea and power project as well as rice bran oil extraction plant in the state. 

	"<a href="http://www.businessinsider.in/Adani-Group-to-hit-global-bond-market-looks-to-raise-over-1-bn-from-investors/articleshow/47610894.cms">Adani Group today signed a MoU</a> with the government of Chhattisgarh to develop two critical projects in the state. The project cost for both the projects is estimated to be around Rs 25,200 crore", the Gautam Adani-led group said in a statement. 
 

	The two projects comprise of a coal to poly-generation (CTP) project and a rice bran solvent extraction plant and refinery, it added. 
 

	A poly-generation plant is one that simultaneously produces two or more marketable products. 
 The Memorandum of Understanding (MoU) was signed today between Chhattisgarh Industry Secretary <keyword id="865976" type="PERSON" weightage="100" keywordseo="Subodh-Kumar-Singh">Subodh Kumar Singh</keyword> on behalf of the state and <keyword id="249165" type="PERSON" weightage="100" keywordseo="Rajesh-Jha">Rajesh Jha</keyword> and K S Varshney from the <keyword id="6367820" type="COMPANY" weightage="100" keywordseo="Adani-Group">Adani Group</keyword>, the statement said. The MoU was signed in the presence of Chhattisgarh Chief Minister <keyword id="65641" type="PERSON" weightage="100" keywordseo="Raman-Singh">Raman Singh</keyword>, Industry Minister Amar Agrawal, Chief Secretary Vivek Dhandh and <keyword id="118623" type="COMPANY" weightage="100" keywordseo="Adani-Enterprises">Adani Enterprises</keyword> Managing Director <keyword id="118610" type="PERSON" weightage="100" keywordseo="Rajesh-Adani">Rajesh Adani</keyword>, it added. 

	The first project to be set up is a CTP project that includes an Ammonia/Urea and Substitute Natural Gas (SNG) complex via gasification of Indian high ash coal sourced from within the state, it said. 
 

	The project cost is estimated to be over Rs 25,000 crore and includes coal to urea, coal to SNG plant as well as coal-based thermal power plant. It has a potential to generate 5,000 jobs in Chhattisgarh, it added. 
 

	The proposed CTP project of Adani Enterprises is being set up for the first time in India, based on coal to synthetic energy, Adani Group said. 
 

	The second project comprises of setting up a rice bran solvent extraction plant and a physical refinery packing plant at Rajnandgaon district in Chhattisgarh. 
 

	The project cost is estimated to be around Rs 200 crore and has the potential to generate more than 600 jobs in the state. 
 Adani Enterprises shares today breached the lower circuit at Rs 73.80 and closed at Rs 71.25 apiece, down by 13.11 per cent, on a day the benchmark <keyword id="35140" type="CITY" weightage="100" keywordseo="BSE">BSE</keyword> <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> closed 1,624.51 points down at 25,741.56 - its biggest ever fall. 
	 
	(Image credits: Indiatimes)

Adani Group signed Rs. 25000 crore MoU with the Chhattisgarh government for coal gasification projects

<ul><li>At 7:50 am the SGX Nifty was trading 0.58% lower pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a muted note amidst mixed cues from global peers. At 7:50 am, the SGX Nifty was trading 0.58% lower indicating a cautious start for Nifty50. On Wednesday, the US stocks ended higher, recouping some of their recent massive losses. The Dow Jones Industrial Average ended 1.6% higher. While, the S&amp;P 500 gained 2.01% towards the end of trading. Here’s a list of stocks to watch for in trade on September 10: IRCTC IRCTC has clarified that it has received no information from the government after news reports surfaced that the government of India is looking to sell a 15-20% stake in the company via offer-for-sale. The shares of IRCTC ended 2% lower on September 9. Indiabulls Housing Finance Indiabulls Housing Finance launched its qualified institutional placement (QIP) on Wednesday. The company is looking to raise ₹1,000 crore. The company has set the floor price for the QIP at ₹206.70 per equity share. The shares of Indiabulls Housing Finance ended 1% lower yesterday. Bharat Dynamics The government on Wednesday mobilised ₹776 crore by divesting nearly 13% in Bharat Dynamics. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. The shares of Bharat Dynamics ended 5% lower on September 9. HDFC Bank, ICICI Bank, SBI and other banking stocks HDFC Bank, ICICI Bank, SBI and other banking stocks will also be in focus during the trade today. The Supreme Court of India will hear petitions seeking an extension of the moratorium period on repayment of loans. Future Consumer Future Consumer promoter, Future Capital Investment has invoked pledge on 1 crore shares on September 8. This may also move other Future Group stocks like— Future Retail, Future Lifestyle, and Future Enterprises, among others. The shares of Future Consumer ended flat on September 9. Adani Power and Adani Transmission Adani Power promoter, Adani Tradeline LLP released 1 crore pledged shares. Also, Adani Transmission promoters Gautam Adani/Rajesh Adani and Adani Tradeline LLP released a pledge on 4,49,56,300 equity shares and 94,60,000 shares, respectively. The shares of Adani Power ended 0.13% higher on September 9. Whereas Adani Transmission finished 0.61% lower. HAL, J&amp;K Bank, and Hindustan Copper These companies are slated to report their quarterly earnings today. SEE ALSO:<a href="https://www.businessinsider.in/defense/news/rafale-jets-to-be-formally-inducted-into-iaf-on-thursday/articleshow/78030072.cms" data-type="tilCustomLink"> India to formally induct Rafale aircraft in the 17 Squadron 'Golden Arrows' today</a> <a href="https://www.businessinsider.in/science/space/news/northrop-grumman-names-its-next-space-ship-after-kalpana-chawla-the-first-woman-of-indian-origin-to-go-to-space/articleshow/78018575.cms" data-type="tilCustomLink">Northrop Grumman names its next space ship after Kalpana Chawla — the first woman of Indian-origin to go to space</a>

Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more

New Delhi, Jan 6 () Ahead of the annual Union Budget presentation, Prime Minister Narendra Modi on Monday interacted with top business tycoons to discuss issues facing the economy and measures needed to boost growth and create jobs.
Richest Indian Mukesh Ambani, Tata group patriarch Ratan Tata, telecom czar Sunil Bharti Mittal, billionaire Gautam Adani, Mahindra Group chairman Anand Mahindra, and mining baron Anil Agarwal were among those present at the discussion.
Tata Sons chairman N Chandrasekaran, TVS chairman Venu Srinivasan, L&amp;T head AM Naik were also present, according to a photograph of the meeting released here.
Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1 with an eye to reviving growth.
The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth to 4.5 per cent - the weakest in six years, with a key contributory factor being a slump in manufacturing output.
The Modi government has undertaken a number of measures to arrest the growth slowdown. In September 2019, it announced a cut in the corporate tax rate to 22 per cent from 30 per cent. The government also lowered the tax rate for new manufacturing companies to 15 per cent to attract new foreign direct investments. The tax rate reductions bring India in line with rates in other Asian countries.
The government's other initiatives include bank recapitalization, the mergers of 10 public sector banks into four, support for the auto sector, plans for infrastructure spending, as well as tax benefits for startups.
But experts say none of these measures directly address the widespread weakness in consumption demand, which has been the chief driver of the economy.
Also, financial sector fragilities continue to weigh on the economic growth momentum, with the high level of non-performing loans on the balance-sheets of the public sector banks, constraining their fresh lending.
Furthermore, there are also risks from potential contagion effects from troubled non-bank financial companies (NBFCs) to the balance-sheets of some commercial banks, which could further weigh on the overall pace of credit expansion.
In response to the growth slowdown, the Reserve Bank of India (RBI) has eased policy rates significantly during 2019, with a series of rate cuts since February 2019.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment.
The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
In the previous meetings, he met Kotak Mahindra Bank CEO Uday Kotak, State Bank of India head Rajnish Kumar, HDFC Bank managing director Aditya Puri, IT industry veteran TV Mohandas Pai; former finance secretary Hasmukh Adhia; Tech Mahindra CEO CP Gurnani, Intel India general manager Nivruti Rai and Tata Consultancy Services chief executive Rajesh Gopinath.
He also reportedly has held one-on-one meetings with sectoral experts.
Modi has so far met over 60 entrepreneurs and businessmen from sectors such as FMCG, finance, renewable energy, diamond, retail, textiles, MSMEs and startups and technology. ANZ BAL

PM meets Ambani, Adani, other India Inc heads to discuss economy

<keyword id="166964" type="General" weightage="80" keywordseo="itc-hotels" source="Orion">ITC Hotels</keyword> announced the signing of a <keyword id="1869154" type="General" weightage="80" keywordseo="welcomhotel" source="Orion">Welcomhotel</keyword> in <keyword id="6357621" type="General" weightage="80" keywordseo="jabalpur" source="Orion">Jabalpur</keyword> under a management contract with A.R.V. <keyword id="6368036" type="General" weightage="100" keywordseo="hotels" source="Orion">Hotels</keyword> Private Limited. <keyword id="15307506" type="General" weightage="50" keywordseo="welcomhotel-jabalpur" source="Orion">Welcomhotel Jabalpur</keyword> will offer 124 rooms, more than 15,000 sq. ft. of banquet space along with two restaurants, a swimming pool, a spa and a fitness centre. Located at Sagra, the property is just 6 km away from the popular tourist spot Bhedaghat, while also being accessible to the IT Park (1.5 km), Jabalpur Junction Station (11 km) and Jabalpur Airport (24 km). Anil Chadha, Divisional Chief Executive, ITC Hotels said: "Welcomhotels are on a high growth trajectory, both in business and leisure destinations. We are excited to bring the Welcomhotel brand from the ITC Hotels group to Madhya Pradesh. Jabalpur offers a healthy mix of commercial, trading, government and leisure-oriented business opportunities and has become a key administrative and business centre for the state. The significant meeting and banquet space backed by ITC Hotels' renowned strength in food and beverage and hospitality service will impart Welcomhotel Jabalpur an edge in the market." Rajesh Kumar Jain, Managing Director, A.R.V. Hotels Private Limited, stated: "We are excited to be partnering with ITC Hotels to bring the Welcomhotel brand to Jabalpur. With ample tourism potential around the city, I believe that this hotel will give Jabalpur the necessary boost to attract more demand here." Navanshu Jain, Director, A.R.V. Hotels Private Limited, said: "I have been fond of ITC Hotels when I travel across India and have always felt a strong connection with the brand. I am sure the people of Jabalpur will feel the same warmth about our upcoming property." Designed for those who demand more to make the most out of their stay, Welcomhotel by ITC Hotels is the new age traveller's key to curated immersive experiences that enrich both business and leisure journeys. With an endeavour to provide enriching experiences, the Welcomhotel by ITC Hotels brand is reflective of the warmth of Indian culture while upholding the benchmark service standards that ITC Hotels are known for. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/uber-launches-its-advertising-division-to-showcase-ads-during-rides/articleshow/94980361.cms">Uber launches its advertising division to showcase ads during rides</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a>

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