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Shares of fintech firm <keyword id="181441" type="General" weightage="20" keywordseo="One97-Communications" source="Orion">One97 Communications</keyword> -- the owner of <keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords">Paytm</keyword> brand -- jumped 5 per cent on Thursday morning after the company received the government's approval for downstream investment in wholly-owned subsidiary <keyword id="22960487" type="General" weightage="20" keywordseo="Paytm-Payments-Services-Ltd-" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Services Ltd." meta.hostid="261" meta.entityid="Paytm Payments Services Ltd.">Paytm Payments Services Ltd.</keyword> The stock climbed 5 per cent to Rs 565 on the BSE. At the NSE, it surged 4.98 per cent to Rs 564.80. The company will reapply for a <keyword id="6640986" type="General" weightage="20" keywordseo="payment-aggregator" source="Orion">payment aggregator</keyword> (PA) licence, a regulatory filing said on Wednesday. "We would like to inform you that <keyword id="20410230" type="General" weightage="20" keywordseo="PPSL" source="keywords">PPSL</keyword> has received approval from the government of India, <keyword id="156153" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="Orion">Ministry of Finance</keyword>, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the company into PPSL. "With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners," Paytm filing said. The Reserve Bank of India (RBI) had rejected Paytm's PA licence permit application in November 2022 and instructed the company to reapply with Press Note 3 compliance under the foreign direct investment norms. As per Press Note 3, the government had made its prior approval mandatory for investments from nations that share land borders with India.

Paytm shares jump 5% on receiving government's nod for investment in Paytm Payments Services

On a sweltering Tuesday, over 25,000 job seekers reportedly descended upon <keyword id="19895282" type="General" weightage="20" keywordseo="Mumbai" source="keywords">Mumbai</keyword>’s Kalina for a walk-in interview hosted by <keyword id="22441082" type="General" weightage="20" keywordseo="Air-India-Airport-Services-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India Airport Services Ltd" meta.hostid="261" meta.entityid="Air India Airport Services Ltd">Air India Airport Services Ltd</keyword>. The company had advertised 2,216 vacancies for the handyman position, a role requiring various repair and maintenance tasks. Despite the limited number of openings, the sheer volume of <keyword id="20595636" type="General" weightage="20" keywordseo="applicants" source="keywords">applicants</keyword> led to chaos, highlighting the fierce competition for <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword> in the region. The scene outside the <keyword id="19930602" type="General" weightage="20" keywordseo="recruitment" source="keywords">recruitment</keyword> office quickly turned chaotic as thousands jostled for a chance at the job. To prevent a <keyword id="21446700" type="General" weightage="20" keywordseo="stampede" source="keywords">stampede</keyword>, officials asked applicants to submit their resumes and leave, promising to review all submissions and contact eligible candidates for further steps. Despite the physical demands of the job, including heavy lifting and operational tasks, the role's salary, ranging from Rs 20,000 to Rs 25,000 per month, with potential earnings exceeding Rs 30,000 through overtime, drew a massive crowd. <div type="Article" hostid="261" msid="111786792" title="Time for a govt job? Karnataka announces impressive 27% pay hike for state employees" mstype="2" mssubtype="0"></div>George Abram, General Secretary of the <keyword id="22441084" type="General" weightage="20" keywordseo="Aviation-Industry-Employees-Guild" source="keywords" meta.keywordsubtype="org" meta.entityname="Aviation Industry Employees Guild" meta.hostid="261" meta.entityid="Aviation Industry Employees Guild">Aviation Industry Employees Guild</keyword>, criticised the disorganised recruitment process. "People came for thousands of vacancies. They brought demand drafts, but we told them not to pay anything yet and that they would be called in later," Abram stated. He claimed that up to 50,000 job seekers might have turned up, though the official count was about 15,000. The incident underscores the acute joblessness and the desperate measures people are willing to take to secure employment, even in physically demanding roles. The minimum qualification for the positions was a 10th-grade pass, and the age limit was capped at 23 years. <h2>Similar instances in the past</h2>This chaotic scene in Mumbai is not an isolated incident. Similar situations have occurred in other parts of India, reflecting the broader employment crisis. On July 9, a comparable incident unfolded in Gujarat when around 1,000 people showed up for walk-in interviews conducted by a private firm for just 40 vacancies at Ankleshwar. The chaos resulted in the collapse of a ramp railing, though no injuries were reported. <div type="Article" hostid="261" msid="111789866" title="The top reasons job applicants say they ghost prospective employers in the hiring process" mstype="2" mssubtype="0"></div>In another instance, a video from Pune showed over 3,000 engineers lining up for a walk-in interview aimed at filling junior developer positions. The overwhelming response for approximately 100 vacancies highlighted the intense competition in the IT sector. These instances paint a grim picture of the employment landscape in India. The overwhelming response to job vacancies, whether in manual labour or skilled sectors, indicates a significant gap between job availability and the number of job seekers.

Mumbai job frenzy: 25,000 applicants show up for job interview with Rs 20,000 salary, cause stampede-like situation

The market capitalisation of <keyword id="22204882" type="General" weightage="100" keywordseo="BSE-listed-firms" source="keywords">BSE-listed firms</keyword> hit an all-time high of Rs 438.41 lakh crore on Thursday, fuelled by a record-breaking rally in equities where the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> breached the historic 79,000 mark for the first time. Rallying for the fourth day running, the 30-share BSE Sensex jumped 568.93 points or 0.72% to settle at a new closing peak of 79,243.18 on Thursday. During the day, it zoomed 721.78 points or 0.91% to hit the new lifetime peak of 79,396.03. In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63% The market capitalisation of BSE-listed companies hit a lifetime high of Rs 4,38,41,960.73 crore ($ 5.25 trillion). Investors' wealth has gone up by Rs 3.93 lakh crore in four trading sessions. Remarkably, the BSE benchmark took just two trading sessions to cover the journey from the 78,000 level hit on June 25 to breach the 79,000 mark on June 27. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74%. Intra-day, it soared 218.65 points or 0.91% to hit the all-time peak of 24,087.45. The Nifty hit the 23,000 mark on May 24 this year. Among the 30 Sensex companies, <keyword id="19963567" type="General" weightage="20" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> jumped 5% after the country's leading cement maker said it will acquire a 23% stake in its Chennai-based rival <keyword id="20440239" type="General" weightage="20" keywordseo="India-Cements-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements Ltd" meta.hostid="261" meta.entityid="India Cements Ltd">India Cements Ltd</keyword>, in a deal estimated to be around Rs 1,885 crore. <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, JSW Steel, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Infosys, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword>, Kotak Mahindra Bank and Bharti Airtel were also among the major gainers. <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword>, Sun Pharma, Nestle, <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Maruti and State Bank of India were among the laggards. "The Sensex surpassing 79,000 marks a historic milestone, reflecting healthy investor confidence and strong fundamentals in key sectors like banking and telecom. Benchmark indices rallied on Thursday, reversing earlier declines, driven by strong buying in blue-chip companies, propelling the Sensex past this historic barrier and leading the Nifty to a new all-time high". "Remarkably, it took only 23 sessions to rise from 23,000 to 24,000, compared to 88 sessions previously," continued Trivesh D, COO at Tradejini, a discount brokerage firm. "The benchmark indices exhibited bullish momentum, buoyed by an expected revival in the IT sector and consolidation in the cement industry," Vinod Nair, Head of Research at Geojit Financial Services, said.

Market cap of BSE-listed firms hit all-time high of Rs 438.41 lakh crore

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

<keyword id="19943739" type="General" weightage="20" keywordseo="Ubisoft" source="keywords" meta.keywordsubtype="org" meta.entityname="Ubisoft" meta.hostid="261" meta.entityid="Ubisoft">Ubisoft</keyword>, the French gaming giant behind popular titles like Assassin’s Creed and Far Cry, has reacted to rumours of a possible buyout by <keyword id="20209720" type="General" weightage="20" keywordseo="PUBG" source="keywords">PUBG</keyword> maker <keyword id="19904584" type="General" weightage="100" keywordseo="Tencent" source="keywords" meta.keywordsubtype="org" meta.entityname="Tencent" meta.hostid="261" meta.entityid="Tencent">Tencent</keyword>. However, the company’s response, released in a cryptic statement on Monday, left fans and industry insiders with more questions than answers. A Bloomberg report had earlier said that Tencent might be exploring the possibility of teaming up with Ubisoft’s founding family, the Guillemots, to take the company private. Sources close to the situation had told the publication that talks were ongoing, with both parties consulting advisors. But for now, Ubisoft is keeping its cards close to its chest. According to a report in The Verge,Ubisoftsaid in a statement that it “regularly reviews all its strategic options in the interest of its stakeholders and will inform the market if and when appropriate.” The company also reiterated its commitment to its current strategy, which focuses on two key areas: Open World Adventures and GaaS-native (Games as a Service) experiences. And that was it—just a couple of lines, leaving the gaming community hungry for more details. <h2>The Guillemot-Tencent connection </h2> While nothing is confirmed, the possibility of Tencent teaming up with the <keyword id="23477147" type="General" weightage="20" keywordseo="Guillemot-family" source="keywords">Guillemot family</keyword> to buy Ubisoft makes a lot of sense. After all, Yves Guillemot, the current CEO, and his family have a deep, personal stake in the company, which they founded decades ago. Tencent, on the other hand, has a 10% stake in Ubisoft and also owns nearly half of <keyword id="23477148" type="General" weightage="20" keywordseo="Guillemot-Brothers-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Guillemot Brothers Ltd" meta.hostid="261" meta.entityid="Guillemot Brothers Ltd">Guillemot Brothers Ltd</keyword>, the family’s holding company. According to a report in wccftech, Tencent is interested in stabilising Ubisoft, which has had a rough few months. The company’s shares plunged by 19% last month, following disappointing sales of Star Wars Outlaws and delays to highly anticipated releases like Assassin’s Creed Shadows. For a company with Ubisoft’s pedigree, these setbacks have shaken investor confidence, and Tencent reportedly sees an opportunity to step in, boost its value, and potentially reshape the company’s future. <h2> </h2><h2>PUBG maker Tencent to acquire Ubisoft? Here is what the company says </h2> As mentioned already, if Tencent were to push forward with a buyout and take Ubisoft private, the move would not be all that surprising. There have been rumours for some time that Ubisoft has been considering such a step, especially as competition heats up in the gaming world and the company struggles to regain its footing. But going private could come with some major consequences. According to the wccftech report, a buyout could trigger significant changes at Ubisoft’s leadership level, including a new CEO and possible layoffs. The company has already seen its fair share of cuts recently, with layoffs hitting its IT and special effects teams, and more could be on the way if a takeover leads to restructuring. But for now, Ubisoft is staying tight-lipped. Fans, investors, and industry watchers will have to wait and watch for what comes next, especially with the company hinting that any updates will only come “if and when appropriate.” One thing’s for sure—whatever happens next, it’s likely to have a major impact on the future of the gaming giant.

Tencent to acquire Ubisoft? Here is what the Assassin's Creed maker says

<keyword id="21607466" type="General" weightage="20" keywordseo="TVS-Credit-Services-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Credit Services Ltd" meta.hostid="261" meta.entityid="TVS Credit Services Ltd">TVS Credit Services Ltd</keyword> has reported a 33.43 per cent rise in its standalone net profit for the January-March 2024 quarter at Rs 148.29 crore, on account of an increase in demand. The city-based <keyword id="20208728" type="General" weightage="20" keywordseo="non-banking-financial-company" source="keywords">non-banking financial company</keyword> had registered a standalone net profit of Rs 111.13 crore, during the corresponding quarter last year. For the financial year ending March 31, 2024, the net profit of the company surged to Rs 571.83 crore, from Rs 388.68 crore a year ago. The standalone total revenue from operations grew to Rs 1,517.50 crore, from Rs 1,234.60 crore in the same period last year. For the financial year ending March 31, 2024, the standalone total income rose to Rs 5,789.57 crore, as against Rs 4,147 crore last financial year. In a statement, the company said it continued to maintain a strong growth momentum in disbursements during FY24, primarily driven by an increase in credit demand, augmented by growth in consumption and increased distribution reach. The company's total Assets under Management (AUM) stood at Rs 25,900 crore in FY24. During the year ending March 31, 2024, the company added over 43 lakh new customers, taking the overall customer base to over 1.40 crore, the statement added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-can-rcb-still-qualify-probabilities-of-ipl-teams-qualifying-for-the-playoffs/slidelist/109984180.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-can-rcb-still-qualify-probabilities-of-ipl-teams-qualifying-for-the-playoffs/slidelist/109984180.cms" target="_blank">IPL decoded: Can RCB still qualify? Probabilities of IPL teams qualifying for the playoffs</a><a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank">2024 Maruti Suzuki Swift launched in India starting at ₹6.49 lakh</a>

TVS Credit posts 33.43% rise in Q4 PAT at ₹148.29 crore

Air conditioning and <keyword id="17833175" type="General" weightage="20" keywordseo="engineering-services" botkeyword="" source="Denny">engineering services</keyword> provider <keyword id="21567326" type="General" weightage="20" keywordseo="Voltas-Ltd" botkeyword="" source="Denny" meta.keywordsubtype="org" meta.entityname="Voltas Ltd" meta.hostid="153" meta.entityid="Voltas Ltd">Voltas Ltd</keyword> on Tuesday reported a 22.75 per cent decline in <keyword id="20203162" type="General" weightage="20" keywordseo="consolidated" botkeyword="" source="Denny">consolidated</keyword> <keyword id="17985868" type="General" weightage="20" keywordseo="net-profit" botkeyword="" source="Denny">net profit</keyword> to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher <keyword id="18067946" type="General" weightage="20" keywordseo="expenses" botkeyword="" source="Denny">expenses</keyword>. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, <keyword id="6354999" type="DOMAIN" weightage="20" keywordseo="voltas" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="voltas" meta.entityname="Voltas Ltd." meta.entityid="12815" meta.seoname="voltas-ltd">Voltas</keyword> said in a regulatory filing. Consolidated <keyword id="17915033" type="General" weightage="20" keywordseo="revenue" botkeyword="" source="Denny">revenue</keyword> from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue of Rs 156 crore as compared to Rs 142 crore in the year-ago period, it added. Similarly, electro-mechanical <keyword id="18084086" type="General" weightage="20" keywordseo="projects" botkeyword="" source="Denny">projects</keyword> and services segment comprising both domestic and international projects businesses grew by 38 per cent year-an-year due to a healthy carry forward order book position, it added. <keyword id="21544478" type="General" weightage="20" keywordseo="Voltas" botkeyword="" source="Denny">Voltas</keyword> said for the fiscal ended March 31, 2024, consolidated net profit was higher at Rs 248.11 crore as compared to Rs 136.22 crore in the previous year. Consolidated revenue from operations in FY24 was at Rs 12,481.21 crore as against Rs 9,498.77 crore in FY23. The company said it achieved the milestone of 20 lakh <keyword id="21211630" type="General" weightage="20" keywordseo="AC-sales" botkeyword="" source="Denny">AC sales</keyword> in 2023-24. Voltas said its board of directors has recommended a <keyword id="18713200" type="General" weightage="20" keywordseo="dividend" botkeyword="" source="Denny">dividend</keyword> of Rs 5 per share of the face value of Re 1 per share for the year 2023-24 subject to the approval of shareholders of the company. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Voltas net profit declines 22% YoY to ₹110.64 crore in Q4 FY24

New Delhi, The stock of <keyword id="20838441" type="General" weightage="20" keywordseo="popular-vehicles-and-services-ltd" source="keywords">Popular Vehicles and Services Ltd</keyword> made a weak market debut on Tuesday, listing with a discount of nearly 2 per cent, from the issue price of Rs 295. Shares of the company started the day at Rs 292, down 1 per cent from the issue price on the BSE. Later, the stock tumbled 10.88 per cent to Rs 262.90. On the NSE, it listed at Rs 289.20, registering a decline of 1.96 per cent. The company commanded a market valuation of Rs 1,928.05 crore. The <keyword id="20478869" type="General" weightage="20" keywordseo="initial-public-offer" source="keywords">Initial Public Offer</keyword> (IPO) of <keyword id="20857025" type="General" weightage="20" keywordseo="popular-vehicles-and-services" source="keywords">Popular Vehicles and Services</keyword> received 1.23 times subscription on the closing day of bidding on Thursday. The Rs 601.55-crore IPO had a fresh issue of up to Rs 250 crore and an offer for sale of up to 1,19,17,075 equity shares. The IPO had a price range of Rs 280-295 a share. Popular Vehicles and Services is a leading diversified automotive dealership in the country with a presence across the automotive retail value chain, including the sale of new passenger and commercial vehicles, services and repairs, spare parts distribution, sale of pre-owned passenger vehicles, and facilitation of the sale of third-party financial and insurance products. It operates passenger vehicle dealerships of <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, Honda, and JLR and the commercial vehicle dealership of <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>.

Popular Vehicles shares make weak market debut; decline nearly 2% in opening trade

Mumbai, <keyword id="19896379" type="General" weightage="20" keywordseo="benchmark" source="keywords">Benchmark</keyword> equity indices declined in early trade on Tuesday, halting their three days of rally, on profit-taking amid weak trends from the US markets and foreign fund outflows. The 30-share BSE <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> declined 222.02 points to 73,792.53. The NSE Nifty dipped 47.65 points to 22,414.35. Later, the benchmark indices faced volatile trends and were trading with marginal gains. From the Sensex basket, ICICI Bank, <keyword id="19950119" type="General" weightage="20" keywordseo="tata-consultancy-services" source="keywords">Tata Consultancy Services</keyword>, Wipro, Infosys, Bajaj Finance, and Asian Paints were the major laggards. <keyword id="19901053" type="General" weightage="20" keywordseo="indusind-bank" source="keywords">IndusInd Bank</keyword>, HDFC Bank, Tata Steel and Titan were among the gainers. In Asian markets, Seoul traded lower while Tokyo, Shanghai, and Hong Kong quoted in the positive territory. Wall Street ended mostly lower on Monday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 522.30 crore on Monday, according to exchange data. Global oil benchmark Brent crude climbed 0.48 per cent to USD 87.84 a barrel. "Profit-taking may come into play due to excessive optimism, subdued US market close in overnight trades, and FIIs turning net sellers in Monday's positive session," <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research), <keyword id="21163359" type="General" weightage="20" keywordseo="mehta-equities-ltd" source="keywords">Mehta Equities Ltd</keyword>, said in his pre-opening market comment. Extending its winning momentum to the third day in a row on Monday, the BSE benchmark jumped 363.20 points or 0.49 per cent to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81 per cent to hit the record intra-day high of 74,254.62. The NSE Nifty climbed 135.10 points or 0.61 per cent to 22,462. During the day, it jumped 203.05 points or 0.90 per cent to hit the all-time peak of 22,529.95.

Markets fall in early trade on profit-taking, foreign fund outflows

<keyword id="20838441" type="General" weightage="20" keywordseo="popular-vehicles-and-services-ltd" source="keywords">Popular Vehicles and Services Ltd</keyword>, which is engaged in automotive dealerships, is set to launch its Initial Public Offering (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>) on March 12. The initial share sale will conclude on March 14 and the bidding for anchor investors will open for a day on March 11, according to the Red Herring Prospectus (RHP). The IPO comprises a fresh issuance of equity shares worth Rs 250 crore and an Offer For Sale (OFS) of 1.19 crore equity shares by Banyantree Growth Capital II, LLC. At present, promoters hold a 69.45 per cent stake in <keyword id="20838442" type="General" weightage="20" keywordseo="popular-vehicles-and-services-and-banyan-tree" source="keywords">Popular Vehicles and Services and Banyan Tree</keyword> owns over 30 per cent stake in the company. Proceeds of the fresh issue will be used for payment of debt and general corporate purposes. The Kerala-based company is a leading diversified automotive dealership in the country with a presence across the automotive retail value chain, including the sale of new passenger and commercial vehicles, services and repairs, spare parts distribution, sale of pre-owned passenger vehicles, and facilitation of the sale of third-party financial and insurance products. It operates passenger vehicle dealerships of <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, Honda, and JLR and the commercial vehicle dealership of <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>. ICICI Securities, Nuvama Wealth Management and Centrum Capital are the book-running lead managers for advising the company on the IPO. The equity shares of the company will be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a><a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank">BYD Seal electric sedan launched in India starting at ₹41 lakh</a>

Popular Vehicles and Services to float IPO on March 12

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Shares of <keyword id="19950119" type="General" weightage="20" keywordseo="tata-consultancy-services" source="keywords">Tata Consultancy Services</keyword> (TCS) plunged more than 3 per cent in the morning trade on Tuesday as its promoter <keyword id="19991117" type="General" weightage="20" keywordseo="tata-sons" source="keywords">Tata Sons</keyword> sold around 2.3 crore shares, or 0.65 per cent of equity stake, in the IT services major through block deals. TCS shares tumbled 3.30 per cent to a low of Rs 4,015.65 apiece on the NSE. On the BSE, the stock plunged 3.15 per cent to Rs 4,014 per piece, emerging a major drag on the benchmark Sensex. According to exchange data, more than 2.53 crore shares traded on the BSE in morning deals against the two-week average of around 1 lakh. Market experts said the decline in TCS share price is mainly due to the Tata Sons stake sale. Following the fall in TCS share value, the market valuation of India's leading software company eroded Rs 45,497.45 crore to Rs 14,54,109.37 crore on the BSE. The block deal initiated by Tata Sons was aimed to offload up to 2.34 crore shares of TCS at a floor price of Rs 4,001 per share. This floor price represented a 3.65 per cent discount from the previous day's closing price. The deal is estimated to be valued around Rs 9,000 crore. The buyer and seller's official confirmation, however, will be made public later in the evening when the stock exchanges release the data. As of December 2023, promoters and promoter group entities hold a 72.41 per cent stake in TCS, of which 72.38 per cent shareholding is owned by Tata Sons. The 30-share BSE Sensex benchmark nosedived 622.03 points, or 0.86 per cent, to 72,126.39, while the broader Nifty slumped 209.40, or 0.95 per cent, to 21,846.30. The stock was the biggest laggard on the BSE index. On Monday, TCS's shares settled nearly 2 per cent lower amid reports that its promoter Tata Sons is likely to sell a minority stake in the IT major. <keyword id="19924335" type="General" weightage="20" keywordseo="tata-group" source="keywords">Tata Group</keyword>'s stocks have been in the spotlight after a report from <keyword id="20856835" type="General" weightage="20" keywordseo="spark-capital" source="keywords">Spark Capital</keyword> in March mentioned that Tata Sons might go public by September 2025 to meet the Reserve Bank of India's (RBI) scale-based regulations. The RBI mandates that upper-layer <keyword id="21002582" type="General" weightage="20" keywordseo="non-banking-financial-companies" source="keywords">Non Banking Financial Companies</keyword> (NBFCs) are required to list on the stock exchanges within three years. Tata Sons has been named among 15 upper-layer NBFCs, with a total market valuation of Rs 31.6 lakh crore, Tata Sons is the owner of 29 publicly-listed Tata Group entities.

TCS shares tank over 3% after Tata Sons divests 0.65% stake

<keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of chauffeur-driven mobility provider ECOS (<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>) Mobility &amp; Hospitality Ltd were listed with a <keyword id="20097242" type="General" weightage="20" keywordseo="premium" source="keywords">premium</keyword> of over 17 % against the issue price of Rs 334 on Wednesday. The stock made its debut at Rs 391.30, a jump of 17.15 % from the issue price on the BSE. Later, it zoomed around 36.52 % to Rs 456. The Rs 601 crore share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares. At the NSE, shares of the firm listed at Rs 390, a premium of 16.76 %. The company's market <keyword id="19896943" type="General" weightage="20" keywordseo="valuation" source="keywords">valuation</keyword> stood at Rs 2,646.30. The shares closed the day at Rs 441.05 on NSE, up by 13.09%. The initial share sale of Ecos (India) Mobility &amp; Hospitality got subscribed 64.18 times on the closing day of bidding on Friday. Per reports, the profit per lot in this <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> is Rs 2,464 The IPO had a price range of Rs 318-334 a share. The Delhi-based company has been providing Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars, across 109 Indian cities. It also provides speciality vehicles like luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. Shivani Nyati, Head of Wealth, Swastika Investmart Ltd noted that <keyword id="22886052" type="General" weightage="100" keywordseo="ECOS-Mobility" source="keywords">ECOS Mobility</keyword> &amp; Hospitality made a promising stock <keyword id="20491150" type="General" weightage="20" keywordseo="market-debut" source="keywords">market debut</keyword>, which was fueled by the strong investor interest in the IPO's 64.18 times subscription and a substantial grey market premium. "While the listing was encouraging, investors should remain cautious due to the company's mixed financial performance. Despite top-line growth, profitability has declined, indicating potential challenges in managing costs and maximizing returns. The IPO's valuation appeared higher, based on the P/E ratio, which might have contributed to the relatively modest listing gain compared to the pre-listing hype. Additionally, the company's status as a complete offer for sale means it won't receive any new funds from the IPO, potentially limiting its ability to accelerate growth or address challenges", she continued. "Those who want to hold it may keep a stop loss at around 350", said Nyati. The road transport sector, under which the company operates, is set to have a GDP of around $184.7 billion by FY2030, rising at a CAGR of 8.2% in the FY2022 to FY2030 period. Naturally, this burgeoning sector will work in favor of the corporate mobility and shared mobility segments, also as employment generation within the Indian tertiary sector remains robust in the medium and long-term. Rising infrastructure construction, be it for public transportation works of intercity metros or national highways, and the resultant traffic snarls will see consumers increasingly opt for shared mobility, especially within Indian metros and Tier 2 cities, a segment that the company has been in operating in for the last 25 years.

ECOS Mobility shares jump over 17% on market debut

After several days of impressive gains, Indian stock indices saw some correction on September 27, 2024, as investors booked profits following a prolonged rally. The <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword>, which briefly touched the 86,000 mark during the trading session, closed the day slightly lower at 85,571.85 points, down by 264.27 points or 0.31%. Similarly, the <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> index, which reached a lifetime high of 26,277.35, eventually closed in the red at 26,175.15 points, down by 40.90 points or 0.16%. Market participants were primarily focused on locking in gains after the indices reached record highs. Sectoral performance saw a divergence, with banking, financial services, media, and real estate stocks facing pressure. <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>, pointed out that after the recent surge, "the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels." He further added that market participants are eagerly awaiting the second-quarter earnings report, which could provide clarity on future earnings potential. <h2>Global factors and FPI activity</h2>One of the key drivers behind the <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> rally in recent weeks has been the US Federal Reserve’s decision to loosen its monetary policy, with a significant 50-basis-point cut in interest rates. This move has resulted in a flow of capital from the US to markets like India, where policy rates are higher, thus providing attractive returns. The looser monetary policy in the US has encouraged foreign portfolio investors (FPIs) to continue investing in Indian equities. FPIs have remained net buyers in India for the fourth consecutive month, further supporting the stock indices. As per data from the <keyword id="20070086" type="General" weightage="20" keywordseo="national-securities-depository-limited" source="keywords">National Securities Depository Limited</keyword> (NSDL), FPIs have purchased Indian stocks worth ₹48,822 crore in September alone, a trend that has bolstered market confidence. The strong FPI inflows reflect optimism about India's economic prospects and its equity market returns. <h2>Sectoral performance and outlook</h2>Despite the overall market decline, the performance varied across different sectors. Public sector banks, defence, and railway stocks, which had seen significant buying interest earlier, took a backseat as pharma, private banks, and mid-size IT companies began to attract attention due to their appealing valuations. These sectors are now expected to drive the next market phase in the coming quarters, according to Krishna Appala, Senior Research Analyst at Capitalmind Research. The markets traded in a narrow range for most of the day, with little overall movement despite positive global cues. An early rebound in the IT sector briefly boosted the indices, but the gains were short-lived. The broader indices, including the Nifty and Sensex, remained largely flat, echoing the sluggish performance of heavyweight stocks. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that "sector-wise, pharma and energy posted solid gains, while banking and real estate sectors saw profit booking." Looking ahead, Mishra maintained a bullish outlook on the markets, advising investors to use periods of consolidation or dips to accumulate quality stocks. He added that, in the absence of any significant domestic triggers, global markets will likely set the direction for Indian equities. On the Nifty index, he anticipated strong support around the 25,900-26,000 zone, with an upside target at 26,500. <h2>Technical insights</h2>Hrishikesh <keyword id="23343291" type="General" weightage="20" keywordseo="yedve" source="keywords">Yedve</keyword>, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd., shared his technical analysis of the <keyword id="20105832" type="General" weightage="20" keywordseo="nifty-and-bank-nifty" source="keywords">Nifty and Bank Nifty</keyword> indices. He observed that while the Nifty started the day on a flat note and registered a new lifetime high, it eventually faced profit booking and closed marginally lower. "Technically, the index on a daily scale has formed a small red candle, but on the weekly scale, it has formed a big green candle," Yedve explained. He added that as long as Nifty holds above the 26,000 level, a "buy on dips" strategy should be followed, with an immediate short-term target of 26,500. On the Bank Nifty front, Yedve pointed out that the index started on a weak note and remained under pressure throughout the day, closing at 53,834. He highlighted the formation of a bearish Marubozo candle on the daily chart, which signals potential short-term weakness. However, on the weekly scale, Bank Nifty remains above the breakout point of a rounding bottom pattern, indicating strength. "In the short term, Bank Nifty may witness consolidation or profit taking, but any dip around 53,350-53,400 will offer fresh buying opportunities," Yedve advised. <h2>Market wrap-up and outlook</h2>Reflecting on the week’s performance, <keyword id="23343292" type="General" weightage="20" keywordseo="amol-athawale" source="keywords">Amol Athawale</keyword>, VP-Technical Research at Kotak Securities, noted that the benchmark indices had maintained positive momentum, with the Nifty ending 1.5% higher and the Sensex gaining over 1,030 points. <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">Metal</keyword> and auto stocks were the standout performers, with the Metal index rising by 7% and the Auto index by 4.5%. Athawale highlighted the importance of the Nifty and Sensex breaching key resistance levels of 26,000/85,000 last week, which has provided a boost to market sentiment. Technically, Athawale pointed to the formation of a bullish candle on the weekly charts and an uptrend continuation pattern on the daily and intraday charts, signalling a potential continuation of the rally. However, he cautioned that "buying on dips and selling on rallies would be the ideal strategy for short-term traders." He identified 26,100/85,300 as crucial support zones for the Nifty and Sensex, with resistance expected around 26,400-26,500/85,900-86,300. As for Bank Nifty, Athawale described the medium-term outlook as bullish but noted that overbought conditions could lead to range-bound activity in the near term. He suggested that 53,500-53,100 would serve as key support zones, while profit booking could occur near 54,500-54,800. (With inputs from agencies)

Indian markets ease as profit booking follows record-breaking streak

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> (<keyword id="20002939" type="General" weightage="20" keywordseo="RIL" source="keywords">RIL</keyword>) is set to hold its much-anticipated 47th Annual General Meeting (AGM) today, August 29, 2024. The AGM, which will be held virtually, is expected to feature some key announcements that could be of great interest to investors as well as shareholders. The meeting will start at 2:00 p.m. IST and will be live-streamed across various digital platforms. Read on to know all about <keyword id="22949345" type="General" weightage="100" keywordseo="Reliance-AGM" source="keywords">Reliance AGM</keyword> and what can be expected from it this year. <h2>What is Reliance AGM?</h2> The Reliance Annual General Meeting (AGM) is an important event where Reliance Industries Ltd (RIL) presents its financial performance, future strategies, and key developments to shareholders and the public. Held annually, this meeting is led by RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> and serves as a platform for major announcements, including potential IPOs, business expansions, and technological advancements. The AGM attracts widespread attention from investors, analysts, and industry watchers, as it provides insights into the company’s direction and its impact on various sectors. <h2>Where to watch livestream</h2> The AGM will begin at 2:00 p.m. IST and will be conducted virtually, allowing millions of shareholders and investors to join from anywhere. The event will be live-streamed across various digital platforms, including RIL's social media pages on YouTube, X (formerly Twitter), and Facebook. Shareholders can join the live broadcast using the following link: <a href="https://jiomeet.jio.com/rilagm" target="_new">https://jiomeet.jio.com/rilagm</a>. <h2>What to expect from Reliance AGM 2024</h2> IPO announcements: One of the most closely watched aspects of the AGM is the potential announcement of IPO timelines for Reliance <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords">Jio</keyword> and Reliance Retail. The possibility of these two giants going public has been a topic of discussion since 2019, and with the five-year mark approaching, investors are keen to hear concrete plans. Energy projects: Reliance’s foray into the green energy sector has been a key focus in recent years. The AGM is expected to provide updates on the progress of the company’s ambitious new energy projects, particularly the development of a large green energy complex in Jamnagar. This complex, featuring giga factories for solar PV, energy storage, and other technologies, is part of Reliance’s broader strategy to transition from traditional energy sources to more sustainable options. Investors will be looking for detailed timelines and potential earnings projections from these ventures. 5G Rollout: Reliance Jio’s 5G rollout is another critical area of interest. The company has already made significant strides in expanding its 5G network across India, and the AGM is expected to shed light on how RIL plans to monetize this infrastructure. This could include potential partnerships, new service offerings like the JioPhone 5G, and strategies to increase subscriber growth. The success of Jio’s 5G rollout will be crucial in maintaining its competitive edge in the rapidly evolving telecom market. AI focus: In addition to its core business areas, Reliance is also expected to make announcements related to artificial intelligence (AI). With global tech giants increasingly focusing on AI, RIL is likely to reveal new AI initiatives tailored to the Indian market. This could include expansions to Hanuman AI, a generative AI tool developed with leading Indian institutions, which supports multiple Indian languages. Succession planning: Another topic of interest is Reliance’s succession plan. With Mukesh Ambani having previously outlined a blueprint for leadership transitions within the company, shareholders will be looking for updates on how these plans are being implemented. The AGM may provide further clarity on the roles of Ambani’s children—Akash, Isha, and Anant—who have been earmarked to lead the telecom, retail, and energy segments, respectively.

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