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<ul><li>The bank’s share price is up 54% since the lockdown started and still, it is at half the price compared to December-end.</li><li>JP Morgan has set a target price of ₹330 in the next one year, implying that the stock can still gain about 38% hereon.</li><li>As one of India’s largest microfinance institutions, its balance sheet will reflect the true state of affairs in rural areas.</li></ul>India’s Chief Economic Advisor Krishnamurthy Subramanian cited data in an interview to say that the reported stress in rural India has been exaggerated. However, the real impact of COVID-19 lockdown on rural India will be reflected in the earnings from <keyword id="2240511" type="PERSON" weightage="20" keywordseo="Bandhan-Bank">Bandhan Bank</keyword> — one of the country’s biggest microfinance institutions and a listed bank since March 2018 — to be announced tomorrow, May 12. So far, the share price reflects some optimism. It’s up over 54% since the lockdown starting March 25. However, it is still available at less than half the price compared to December-end. Most of its business is based in the rural outposts of India, which have been more affected by the economy shutting down than the coronavirus disease itself. <div type="image" title="snapshot-1589200754808" msid="75677122" hostid="261" caption="&amp;lt;p&amp;gt;Bandhan Bank&amp;#39;s share price since the lockdown was announced on March 25&amp;lt;/p&amp;gt;"></div> Most of Bandhan Bank’s microfinance loans aren’t consumption-based or to migrant workers, giving an edge over other banking institutions. “We continue to believe that Bandhan Bank is the most resilient franchise within microfinance — no consumption-based lending, no lending to migrant workers,” said Bernstein’s report from early April. This could be its undoing or the pillar on which it survives, according to analysts. Bandhan Bank has a survived many a crisis It also has experience overcoming the volatile, and unexpected, disturbances that usually occur in rural regions like droughts, floods and even political violence — and has survived most of it over the past two decades. “Based on past experience and limited disruption in the rural economy as of now, the normalcy in collections should return in three months after the moratorium,” said Emkay Research’s analysis. <div type="image" title="snapshot-1589259039416" msid="75688520" hostid="261" caption="&amp;lt;p&amp;gt;Bandhan Bank&amp;#39;s net profit over the last five quarters&amp;lt;/p&amp;gt;"></div> “Based on past experience… post cyclones, riots (Darjeeling) and demonetisation, the collection normalcy returned in three months and hopefully, should be the case this time around as well,” added Emkay. COVID-19 lockdown will hurt Bandhan Bank too, just not as much as others But that doesn’t mean that Bandhan Bank will be able to undercut the coronavirus impact altogether — it just has a higher likelihood of surviving it. “We believe Bandhan, with a 23% Tier-1 and strong CASA (low-cost) deposits, will survive this better than any competitor. We cut Bandhan's microfinance growth by 50% and increase credit costs by 100% to factor in the disruption,” said Bernstein. <div type="image" title="Bandhan Bank Gross NPA (3)" msid="75688686" hostid="261" caption="&amp;lt;p&amp;gt;Bandhan Bank&amp;#39;s gross NPAs over the last give quarters&amp;lt;/p&amp;gt;"></div> Nonetheless, the bank’s share price has largely been volatile since the lockdown was announced by Prime Minister Narendra Modi on March 25. Geojit Financial Services takes an opposing view stating, “Bandhan Bank, with high exposure to microcredit and personal loans, could see further pressure in case of job losses and pay cuts and also the limited ability of micro-borrowers to repay loans.” Though, so far, its stock looks like it hasn’t lost too much of its value. The recent controversies in the banking sector — with PMC Bank going under and Yes Bank needing the Reserve Bank of India to come to its rescue — have eroded investor confidence leaving recovery open to question. Even with Bandhan Bank’s healthy liquidity and asset diversification, asset quality stress will remain a key parameter to watch out for. An initial strike is inevitable, but analysts are divided on how long it will take the bank to recover. See also: <a href="https://www.businessinsider.in/business/news/richest-man-in-asia-mukesh-ambani-owned-reliance-jio-in-talks-to-raise-more-money/articleshow/75669385.cms">$8 billion and counting – Asia's richest man is reportedly in talks to raise more money for Reliance Jio</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-at-infosys-and-tech-mahindra-is-down-40-in-line-with-the-trend-in-top-five-it-firms-and-its-not-just-because-of-covid-19/articleshow/75669358.cms">Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19</a> <a href="https://www.businessinsider.in/finance/news/sovereign-gold-bond-scheme-price-how-to-apply-rules-and-all-you-need-to-know-about-paper-gold/articleshow/75670320.cms">Sovereign Gold Bond Scheme ⁠— price, how to apply, rules and all you need to know about paper gold</a>

Bandhan Bank shares have gained 54% since lockdown started⁠— but the numbers will reveal the real damage to rural India from COVID-19

<ul><li>Sensex gained 0.59% to 38,273.73 points during the initial trade.</li><li> The Nifty50 rose 0.59% to 11,314.00. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Despite the mixed cues from global markets, Indian stock market opened on a positive note on Tuesday with the BSE Sensex gaining 0.59% to 38,273.73 points during the initial trade. The Nifty rose 0.59% to 11,314.00. On the Nifty50 chart, Grasim, ONGC, Eicher, Titan and UPL Limited were among the top gainers - rising as much as 5%, whereas, Indusind Bank, Tech M, JSW Steel were among the top losers. These are the top stocks that are buzzing on D-street today. Tata Motors gained nearly 2% during the morning trade <div type="image" title="Tata Motors August 18" msid="77605551" hostid="261"></div> Tata Motors gained nearly 2% during the morning trade after the company refuted claims of stake sales in its premium car segment JLR. The company said there is adequate liquidity with the company to manage its operations and capital expenditure. Yes Bank gained 3% during the early trade hours <div type="image" title="yes Bank August 18" msid="77605556" hostid="261"></div> Yes Bank shares gained 3% during the early trade hours after the bank in a notice to shareholders for the AGM said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, which can be seen as a move to retain talent. SBI Cards up over 2% <div type="image" title="SBI cards August 18" msid="77605595" hostid="261"></div> The share price of SBI Cards was trading up over 2% after the company said it raised ₹500 crore via 5.75% 2023 bonds. Bandhan Bank gains nearly 2% <div type="image" title="Bandhan Bank August 18" msid="77605647" hostid="261"></div> Bandhan Bank shares gained nearly 2% after the Reserve Bank of India (RBI) lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks. Britannia gains nearly 2% during early hours of trading <div type="image" title="Britannia shares August 18" msid="77605697" hostid="261"></div> FMCG major Britannia gained nearly 2% during early hours of trading after the company said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures. Reliance Industries trades 2% higher <div type="image" title="RIL August 18" msid="77605757" hostid="261"></div> Reliance Industries shares were trading 2% higher after the Supreme Court asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government. The Supreme Court will continue hearings in the AGR case today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink"> Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms" data-type="tilCustomLink">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a>

Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia

<ul><li>The private sector bank has been put under a moratorium by the Reserve Bank of India since March 5 which has restricted deposit withdrawals. Under the terms of the notified scheme, this moratorium will now be lifted at 6 p.m. on March 18.</li><li><keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>'s authorised share capital will be revised upwards from Rs 1,100 crore to Rs 6,200 crore. </li><li> The number of total equity shares will stand altered to 3,000 crore of Rs 2 each aggregating to Rs 6,000 crore. Authorised preference share capital shall continue to be Rs 200 crore. </li></ul> The government on Saturday notified the scheme of reconstruction for cash-strapped Yes Bank Ltd, paving the way for the lender to resume full operations. The private sector bank has been put under a moratorium by the Reserve Bank of India since March 5 which has restricted deposit withdrawals. Under the terms of the notified scheme, this moratorium will now be lifted at 6 p.m. on March 18. According to the government notification, Yes Bank's authorised share capital will be revised upwards from Rs 1,100 crore to Rs 6,200 crore. The number of total equity shares will stand altered to 3,000 crore of Rs 2 each aggregating to Rs 6,000 crore. Authorised preference share capital shall continue to be Rs 200 crore. The investor bank, which in Yes Bank's case is the State Bank of India, will pick up to 49 per cent of the equity, while private investors will be allowed to buy the rest. SBI will have to hold at least 26 per cent stake in the private bank for a minimum period of three years. Similarly, the other investors will also be mandated to have a similar lock-in period for 75 per cent of their investment in the bank. As per the notification, this lock-in will also be for all existing shareholders who are holding 100 or more shares in the private sector bank. Investors in the bank, other than SBI, will also have a voting right to the extent of their shareholding in the bank or 9 per cent of the total voting rights of all shareholders in the reconstructed bank or as decided by RBI, whichever is lower. Higher voting rights up to 15 per cent may be allowed to certain investors having higher shareholding and declared "fit and proper" by the RBI. The reconstructed bank will also allot its equity in within two working days following the commencement of the scheme. Government has also decided to exempt all investors in the Yes Bank from payment of capital gains tax for any deemed profit or gains on account of subscription of shares. The office of the administrator of YES Bank shall also stand vacated after seven days from the cessation of moratorium and the new Board will take over the bank. Prashant Kumar, former SBI CFO, and the current administrator of Yes Bank may take over as managing director and CEO of the bank. Early this week, SBI said that its board had approved an investment of Rs 7,250 crore in Yes Bank by purchasing 725 crore equity shares. On Friday, ICICI Bank and Housing Development Finance Corporation Ltd announced that they will be investing Rs 1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing Rs 600 crore and Rs 500 crore respectively. Bandhan Bank will be investing Rs 300 crore A full list of investors is yet to be released.

Yes Bank withdrawal limit to be lifted in three working days

<ul><li>India's Independence Day, Muharram, Raksha Bandhan, Janmashtami, and Parsi New Year, are some of the holidays in August.</li><li>Banks are closed on Sundays, and second and fourth Saturdays.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>.</li></ul>From Muharram, the first month of the Islamic calendar, which begins on August 20 to the harvest festival of Onam, from India's indepedence day to Janmashtami, which the Hindus believe to be the birthday of the deity, Lord Krishna, a whole host of festivals, anniversaries and holidays, both national and regional, will keep banks in many parts of the country for as many as 15 days this month. As per the regulations by the Reserve Bank of India (RBI), the banks are closed on Sundays, and second and fourth Saturdays. Keep track of the <keyword id="1004673" type="PERSON" weightage="20" keywordseo="Bank-holidays">bank holidays</keyword> given in the list below and plan your banking functions accordingly. <h3 style="line-height:1.295;margin-top:2pt;margin-bottom:0pt;">List of <keyword id="11729990" type="UNKNOWN" weightage="20" keywordseo="bank-holidays-in-august-2021">Bank Holidays in August 2021</keyword></h3> <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#f4b083;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Day and date </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#f4b083;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Description of the holiday </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#f4b083;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Applicable in </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Wednesday, 4 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Bonalu </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Telangana </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Sunday, 8 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Tendong Lho Rum Faat, Karkidaka Vavu </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Sikkim and Kerala </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Wednesday, 11 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Hariyali Teej </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Haryana </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Friday, 13 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Patriot’s day </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Manipur </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Saturday, 14 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Second Saturday </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">All over India </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Sunday, 15 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Independence Day </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">All over India </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Monday, 16 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">De Jure Transfer Day </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Pondicherry </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Tuesday, 17 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Parsi New Year </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Gujarat and Maharashtra </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Thursday, 18 to 19 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Ashura </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Many states across India </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Thursday, 18 to 22 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Jhulan Purnima </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Many states </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Thursday, 19 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Muharram </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Many states across India </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Friday, 20 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">First Onam </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Saturday, 21 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Thiruvonam </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Sunday, 22 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Raksha Bandhan </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Many states in India </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Sunday, 22 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Jhulan Purnima, Indra Jatra </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Jhulan Purnima in Odisha and West Bengal Indra Jatra in Sikkim </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Saturday, 28 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Ayyankali Jayanthi </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td></tr><tr><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Monday, 30 August 2021 </td><td style="border-left:solid #dddddd 0.75pt;border-right:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Janmashtami </td><td style="border-left:solid #dddddd 0.75pt;border-bottom:solid #dddddd 0.75pt;border-top:solid #dddddd 0.75pt;vertical-align:middle;background-color:#ffffff;padding:6.75pt 11.25pt 6.75pt 11.25pt;overflow:hidden;overflow-wrap:break-word;">Many states in India </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/these-seven-indian-states-face-the-highest-risk-of-a-spike-in-covid-19-infections-and-stricter-restrictions/articleshow/84962478.cms">These seven Indian states face the highest risk of a spike in COVID-19 infections and stricter restrictions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-cases-in-kerala-are-spiking-due-to-good-detection-better-reporting-and-early-easing-of-restrictions/articleshow/84942657.cms">COVID-19 cases in Kerala are spiking due to good detection, better reporting and early easing of restrictions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/from-the-us-to-western-europe-to-new-zealand-natural-disasters-which-wreaked-havoc-in-the-last-6-months/slidelist/84940351.cms">From the US to Western Europe to New Zealand — natural disasters which wreaked havoc in the last 6 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/droom-founder-explains-why-he-is-considering-a-us-ipo-and-where-he-intends-to-spend-the-money/articleshow/84917608.cms">Droom founder explains why he is considering a US IPO and where he intends to spend the money</a>

Bank holidays in August add up to 15 days across India

<ul><li>The current coronavirus pandemic isn’t unlike the second World War according to billionaire <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>.</li><li>In an interview with Sudhir Sethi, Founder and Chairman of Chiratae Ventures, shared exclusively with Business Insider, Tata explains how the pandemic is a time for investing in new ideas.</li><li>“It's not a world war but it's like a world war,” he said.</li></ul>The coronavirus pandemic has disrupted society and has everyone wondering about what the ‘new normal’ will be once the lockdown finally ends. The mindset isn’t unlike what the world had to experience during the second world war, according to billionaire Ratan Tata. Just as the effects of the war weren’t limited to the western hemisphere, the effects of the lockdown won’t be limited to India. “I think it's not limited to India, what I'm about to say, I'd say with some degree of concern. You compare our situation to a World War, which was destructive, cities got bombed, manufacturing industries were disabled and yet it was in those times that many new technologies were developed. Many scientific, some of them dramatically horrible in terms of what was done to human beings but science was taken to a new height,” Tata told Sudhir Sethi, Founder and Chairman of Chiratae Ventures in an exclusive interview shared with Business Insider India. <div type="Article" hostid="261" msid="75676805" title="EXCLUSIVE: Billionaire Ratan Tata's advice to entrepreneurs — how to set up 'disaster proof' business in the post-COVID world" mstype="2" mssubtype="0"></div> “Out of it came rockets, came other forms of enterprise and other forms of destruction, both were an issue of application. But the entrepreneurs who were supported by their governments to open new doors if you might. That could be the case again,” explained Tata. “It's not a world war but it's like a world war,” he said not unlike UN Secretary Antonio Guterres in April, who also pointed out that the current pandemic is the biggest challenge that the world has had to deal with since World War Two. The only difference is that, at the time, efforts were directed to a wartime effort and, this time, they’ve been redirected to ensuring people can stay at home. In a way, that’s actually better but the economic pressures on the economy are along the same lines. “There's a dramatic need for vaccines, there's a dramatic need for solutions. And strange things happen and I think we really have to look back and say with so and so innovativeness really has its roots quite often at a time of crisis like the crisis we have on our hands today,” explained Tata. Nothing is ‘too far out’ “And so there's an initial ‘throw your hands up’ you have this crisis and then there is our own innovativeness that comes to play. That's a time we need to support to invest. To not dismiss something as being too far out, but being something we should look at,” Tata said explaining how a crisis can give birth to innovation. “Well, I think investors should be keeping their powder dry and that might seem to be very prudent. It may also be very self-defeating. That now might be the time when investors should be looking at opportunities like they did in the 70s and 80s. Where it was driven by the creation of the integrated circuit or it was created by moving to a digital world or looking at nanotechnology as the means or looking at biology or sub nano driven projects, whatever it was the 70s and 80s were those kinds of heavy times when those things happen,” he explained. In today’s day and age, it’s already pushing AI-enabled drones and robotics to the forefront as a way of enforcing social distancing more effectively. “So today one could have a bunch of investors who would say I'll back this company because it's being driven to do something differently rather than say the right now is not the time to look at something new,” said Tata. “And I would like to say that to me the virus will disappear and in a period of time but the innovativeness that we bring during these difficult times would be something we could look back on and say there was a good part of what we faced the hardship that we went through, had its up moments which we availed of,” he explained. Governments have a major role to play in Journalists, politics, and economists have all made comparisons that compare the current crisis to the second World War, regardless of whether it’s with respect to the scope of challenges that are presented or the scale of economic dislocation. In addition to taking advantage of existing expertise that entrepreneurs can offer, one lesson to take away from the time is that there needs to be a centralised and coordinated government response. “Yes, to take an example, if you look at the US. Then you look at what organizations like DARPA have done as the government supporting new technologies in biotechnology or integrated circuits or in the total variety of things the government has supported - three, four, five billion dollars which the private sector would not have been able to do. They have ushered in new industries because of their ability to come up with the funds earmarked for a particular development,” Tata said. “And if we had at a time like this had a way of marshalling some funds. In certain areas, we could have another wave of innovativeness arising out of a problem just like we've had in World War 2 or the Cold War. We could look at the plus side of that which caused innovation to take place with or perhaps not have happened or taken much longer to do than they have done,” Tata concluded. See also: <a href="https://www.businessinsider.in/finance/news/86-indian-consumers-are-worried-about-repaying-loans-after-moratorium-says-a-new-bcg-survey/articleshow/75687575.cms">86% Indian consumers are worried about repaying loans after moratorium, says a new BCG survey</a> <a href="https://www.businessinsider.in/business/startups/news/70-of-oyo-hotels-in-china-have-reopened-and-bookings-are-rising-slowly-the-company-says/articleshow/75687657.cms">70% of OYO hotels in China have reopened ⁠— and bookings are rising slowly, the company says</a> <a href="https://www.businessinsider.in/finance/news/bandhan-bank-share-price-and-impact-on-rural-india/articleshow/75677008.cms">Bandhan Bank shares have gained 54% since lockdown started⁠— but the numbers will reveal the real damage to rural India from COVID-19</a>

Ratan Tata’s advice to investors — 'Don't dismiss anything as being too far out'

Insurance policies where the premium is over Rs 5 lakh will no longer be tax-exempt, as per the provisions in the Union Budget 2023-24. Kapil <keyword id="6371425" type="General" weightage="80" keywordseo="mehta" source="Orion">Mehta</keyword>, Co-founder, SecureNow Insurance Broker said the income from traditional insurance where the premium is over Rs 5 lakh will not be tax exempt. While this will dampen the interest of individuals to buy high-value traditional insurance, it will increase the focus on term plans and pure risk covers which is good. A concern is that it should not result in a significant shift towards purely investment-oriented unit link insurances, Mehta said. Arihant <keyword id="4615937" type="General" weightage="80" keywordseo="bardia" source="Orion">Bardia</keyword>, CIO and Co-Founder, <keyword id="16321222" type="General" weightage="50" keywordseo="valtrust" source="Orion">Valtrust</keyword> said if the premium paid on insurance policies (excl. <keyword id="44600" type="General" weightage="50" keywordseo="ulip" source="Orion">ULIP</keyword>) exceeds Rs 5 lakh in a year, then the proceeds from those policies will be taxable (except in case of death benefit). Bardia said this is negative for insurance - as it will impact savings products which are usually high-value and margin products (though not protection). However, smaller policies remain unaffected. Overall a negative for insurance companies as it will impact the high-value premium policies -- thus impacting overall industry GWP growth. A similar provision was already introduced for ULIPs in 2021 wherein the aggregate premium was restricted to Rs 2.5 lakh in a year for tax-exempt proceeds", said Bardia. Mehta said improvements in ease of doing business specifically, the changes pertaining to simplification of the KYC process, one-stop solution for identity and address updating, common business identifier, unified filing, and entity <keyword id="3745298" type="General" weightage="80" keywordseo="digi" source="Orion">Digi</keyword> locker will make placement of insurances easier. Claims payment would also be facilitated. Changes in personal income tax will increase personal disposable income. This will result in individuals' ability to buy better, higher-value insurance to manage their risk, Mehta said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/tax-rate-revision-will-increase-purchasing-power-of-middle-class-bandhan-bank-ceo/articleshow/97521375.cms">Tax rate revision will increase purchasing power of middle class: Bandhan Bank CEO</a>

Insurance policies where premium is above ₹5L no more tax exempt

<ul><li>At 7:45 am, the SGX Nifty was trading flat, indicating a tepid 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 indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was trading flat, indicating a tepid start for Nifty50. However, the US <a href="https://www.businessinsider.in/stock-market/news/dow-closes-at-record-as-democratic-senate-win-and-stimulus-expectations-offset-capitol-chaos/articleshow/80143521.cms">stocks closed at record highs on Wednesday</a> as the prospect for more stimulus under a Democratic-controlled Senate offset chaos at the US Capitol. The Dow Jones Industrial Average closed 437 points higher, and the S&amp;P 500 was up 0.57%. These are the stocks to watch out for during the trading session today: Godrej Properties, Oberoi Realty, Indiabulls Real Estate, Sunteck Realty, and other realty stocks After reducing stamp duties, the Maharashtra government has given a further boost for real estate developers. On January 6, the Maharashtra cabinet approved the proposal to cut the premium on real estate projects by 50% till December 31, 2021. <cmsannotation type="cmsannotation" annotationid="Sobha" comment="subhead" text="Sobha">Sobha</cmsannotation> In its quarterly update, Sobha Limited said its total sales value was up 22.2% to ₹887.6 crore during the quarter. Good demand across product categories has helped Sobha lock in improved sales. It also registered its highest price realisation in the past six quarters. Telecom stocks: Airtel, Vodafone-Idea, RIL, and others The telecom department has issued a notice, inviting applications from companies for the sixth round of 4G spectrum auction for radio waves worth ₹3.92 lakh crore. The auction will begin from March 1, while the companies who wish to bid for the spectrum can submit their applications till February 5. Lupin On Wednesday, homegrown pharma major Lupin said it has received approval from the US health regulator to market its generic version of sulfamethoxazole and trimethoprim oral suspension used to treat bacterial infections. Dixon Technologies Dixon Technologies has bagged a twin wireless speakers manufacturing contract from boAt. The company will be manufacturing the said products from its manufacturing facility located at Noida. Bandhan Bank Private lender Bandhan Bank said its loans and advances grew by 23% year-on-year to ₹80,255 crore during the third quarter of the current fiscal. During the quarter, its total deposits increased by 30% to ₹71,188 crore compared to the corresponding period last year. Maruti Suzuki Maruti Suzuki India, the country's largest carmaker, said its total production in December increased 33.78%. Future Consumer Kishore Biyani-led Future Consumer's <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/58a8372e-408d-42df-955b-35c1f84ce722.pdf">loan default amount till December</a> 31 stands at ₹90 crore and total outstanding loan amount stands at ₹329 crore. Tata Consultancy Services Tata Sons tendered shares worth ₹9,997 crore of <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/76e1562e-e8e4-4dfe-a9fb-03cd45432177.pdf">Tata Consultancy Services (TCS)</a> during the IT major's ₹16,000 crore-buyback offer that concluded recently. The single largest shareholder of TCS, Tata Sons, tendered more than 3.33 crore shares during the offer. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms" data-type="tilCustomLink">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms" data-type="tilCustomLink">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a>

Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others

<ul><li>The 30-share BSE index Sensex surged 476.45 points, and the NSE Nifty gained over 1.15% at 10:01 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing 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 indices Sensex and Nifty opened in green led by gains in IT stocks and the positive global cues. The 30-share BSE index Sensex surged 476.45 points, and the NSE Nifty gained over 1.15% at 10:01 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr></tbody></table>*as of October 8, 9:55 am These are the top stocks in news today. <keyword id="969673" type="PERSON" weightage="20" keywordseo="Wipro-shares">Wipro shares</keyword> touch a new high The shares of IT giant Wipro were trading 5% higher— hitting a fresh over 20-year high on the BSE after the company <a href="https://www.businessinsider.in/business/corporates/news/following-tcs-lead-wipro-announces-plans-to-buyback-shares/articleshow/78537250.cms">announced</a> that its board would consider a buyback plan on October 13. <keyword id="904136" type="PERSON" weightage="20" keywordseo="TCS-shares">TCS shares</keyword> gain over 5% The shares of Tata Consultancy Services (TCS) were trading 5% higher after the company posted robust second quarterly results – with 7% QoQ growth in its consolidated net profit to ₹7,475 crore for the quarter ended September 30. TCS also announced a ₹16,000 crore <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">buyback</a> plan at ₹3,000 per equity share. <keyword id="139414" type="PERSON" weightage="20" keywordseo="Infosys-shares">Infosys shares</keyword> trade 4% higher The shares of IT major Infosys were trading 4% higher after its US subsidiary Infosys Public Services in collaboration with Amazon Web Services (AWS), Couchbase, and Knowi developed the Infosys Health Insights Platform (IHIP). The company said IHIP is an automated data science platform for public health agencies, that will help agencies scale their analytics capabilities and turn massive amounts of data into valuable insights. Bandhan Bank shares gains over 3% The shares of the private lender Bandhan Bank were trading 3% higher after it reported stellar growth for the June-September quarter. The bank said its deposits grew 3% YoY and 5% QoQ in the second quarter ended September 30. IRCTC and BHEL trade over 1% higher The shares of IRCTC and BHEL were trading over 1% higher<a href="https://www.business-standard.com/article/companies/bhel-l-t-welspun-irctc-among-15-firms-in-fray-for-running-private-trains-120100701411_1.html"> after reports surfaced </a>that IRCTC and BHEL are among the 15 private companies that have participated in the bidding process for operating passenger trains in 12 clusters. Future Retail, Future Enterprises and other Future Group stocks trade in red The shares of Future Retail, Future Enterprises were trading 5% lower after the e-commerce giant Amazon sent a legal notice to Kishore Biyani-led Future Group for allegedly breaching a non-compete agreement over striking a deal with Reliance Industries (RIL). SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/business/corporates/news/following-tcs-lead-wipro-announces-plans-to-buyback-shares/articleshow/78537250.cms">Following TCS’ lead, Wipro announces plans to buyback shares</a> <a href="https://www.businessinsider.in/finance/banks/news/sbi-new-chief-dinesh-khara-shares-his-stance-on-restructuring-capital-raising-hiring-and-more/articleshow/78534234.cms">SBI’s new chief Dinesh Khara shares his stance on restructuring, capital raising, hiring, and more</a>

Top stock movers — Wipro, TCS, Infosys, HCL Tech, Future Retail, IRCTC, BHEL and more

<ul><li>The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. </li><li>The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18.</li><li>The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The overall market has been trading in the green today. Both Sensex and Nifty were up nearly 1% at 2pm, though they had pared their morning gains a tad. One index that has been a performer today is the Midcap Index, which has been holding up The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. Here’s a quick look at the gainers of S&amp;P BSE Midcap Index PNB Housing <div type="image" title="PNB Housing August 18" msid="77609821" hostid="261"></div> The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18 ahead of its board meeting tomorrow to consider fundraising. “A meeting of the Board of Directors of PNB Housing Finance Limited (the “Company”) is scheduled to be held on Wednesday, August 19, 2020, to consider fundraising by the company, and the mode thereof, by the issue of Equity Shares and/or other securities through any permissible modes, as may be considered appropriate, subject to such approvals as may be required,” the company said in a filing to stock exchanges. Berger Paints <div type="image" title="Berger Paints August 18 new" msid="77609965" hostid="261"></div> The shares of Berger Paints were trading nearly 4% higher during the trade on August 18 after reports surfaced that the Berger’s CEO is expecting double-digit growth in August. “Just before COVID-19 (pandemic), things had slowed down in the third and fourth quarter. Compared to that we are better off and probably some demand has shifted from April and has not got destroyed”, says <a href="https://economictimes.indiatimes.com/markets/stocks/news/expecting-a-double-digit-growth-in-august-berger-paints/videoshow/77594252.cms">Abhijit Roy, MD &amp; CEO, Berger Paints told ET Now</a>. CG Power and Industrial Solutions <div type="image" title="CG Power" msid="77610037" hostid="261"></div> The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18 minutes after opening as the Singularity Holdings acquired 35 lakh shares of the company at ₹13.95 per share and the Blue Diamond Properties bought 4,12,93,778 shares of ₹13.97 per share. There were pending orders of 4,822,841 shares to buy, with no sellers available. GPT Infraprojects Ltd <div type="image" title="GPT infra" msid="77610111" hostid="261"></div> The shares of GPT Infraprojects Limited gained over 10% after the company announced that it had bagged an order valued at ₹196.30 crores. Railway Vikas Nigam, Kolkata has awarded the contract, which involves the construction of Metro Railway Viaduct and Ramp at Joka Depot end in connection with Joka Esplanade Metro Railway Project in Kolkata. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-motors-sbi-card-bandhan-bank-ril-britannia-sbi-cards-share-price-are-top-movers-on-dalal-street-today/articleshow/77605529.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a>

Here's a look at top midcap gainers today— PNB Housing, Berger Paints, CG Power, GPT Infraprojects

Top stock picks for 2021 — Brokerages are betting big on Bharti Airtel, Tech M, HUL, Biocon, and Sun Pharma

<ul><li><keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword> might have taken a hit with the growing resentment against Chinese apps, but it has also opened up the line of investors with the likes of Microsoft and Oracle in the US and Reliance in India. </li><li>But it’s not just TikTok alone. The ban on the app in India along with several other Chinese apps in late June this year gave its clone apps overnight popularity.</li><li>In August alone, Indian video-sharing apps have closed almost $20 million in funding so far.</li></ul>TikTok doesn’t just have millions of users dancing to its tunes, it also has marquee investors around the world picking up a tune to sing along with the Chinese giant. From Microsoft and now, <a href="https://www.ft.com/content/272cfc69-b268-45ac-88d6-d55821f27e78">reportedly Oracle</a> looking to buy TikTok in the US, to India’s richest man Mukesh Ambani looking to buy the Indian business, the company has investors looking to cash in on its popularity. But it’s not just TikTok alone. The ban on the app in India along with several other Chinese apps in late June this year gave its clone apps overnight popularity. It even saw Facebook pushing out its new Instagram update and TikTok lookalike – <a href="https://www.businessinsider.in/tech/news/instagram-reels-is-being-quietly-tested-in-india-just-days-after-the-tiktok-ban/articleshow/76768337.cms">Instagram Reels,</a> just days after the ban. While TikTok’s real number of users aren’t reported by the company, the app was high up on the top downloads charts in India and had seen over<a href="https://www.newindianexpress.com/business/2020/aug/13/reliance-likely-to-acquire-tiktok-in-india-for-5-billion-2182978.html"> 611 million downloads</a>. And with these users looking to move to newer video destinations, Indian <keyword id="9777126" type="UNKNOWN" weightage="20" keywordseo="video-sharing-apps">video sharing apps</keyword> wanted to ride on the ban and the country’s AtmaNirbhar initiative. So evidently, venture capital money has also made its way to its India clone apps. In August alone, the Indian video-sharing apps have closed almost $20 million in funding so far, and as reports say, there are bigger ones on the cards. Indian social media startup Sharechat, which had also launched its own video sharing platform Moj, is <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/google-in-talks-with-sharechat-as-latter-scouts-for-150-200-million/articleshow/77582440.cms">reportedly</a> in talks with Microsoft and Google for an investment. Sharechat was also Twitter’s first startup investment in India. <keyword id="40682" type="PERSON" weightage="20" keywordseo="Chingari">Chingari</keyword> Chingari, shot to fame overnight, so much so that its founders were tracking the hundreds of thousands of users coming in every hour right after the TikTok ban while working for 48 hours with no sleep. The app also won the best video sharing app in the Indian government’s AtmaNirbhar app challenge. Chingari raised $1.3 million in August from LogX Ventures, iSeed, Village Global along with angel investors like Brian Norgard, the former Chief Product Officer of Tinder, who has invested in SpaceX, AngelList, Notion among others. <keyword id="3961149" type="PERSON" weightage="20" keywordseo="mitron">Mitron</keyword> Mitron, which gained popularity, even before the TikTok, thanks to its name being a word used famously by PM Narendra Modi, has raised two rounds of funding in recent times. Today the company has announced that it has raised $5 million, led by Nexus Venture Partners. 3one4 Capital and Arun Tadanki’s private syndicate on LetsVenture, along with a slew of angel investors like Deep Kalra (MakeMyTrip founder), Amarjit Batra (Spotify India head), among others. The startup said that it has over 33 million downloads on the Play Store and garners 9 billion video views per month. <keyword id="8861782" type="UNKNOWN" weightage="20" keywordseo="Trell">Trell</keyword> Trell raised $11.4 million in a Series A round led by KTB Network. The round also saw participation from Samsung Ventures, Gokul Rajaram (Board Member, Pinterest, Square, DoorDash), Sequoia’s Surge, Fosun RZ Capital, among others. With 75 million downloads, the app claims to have grown over 27 times in the last 12 months and also has 25 million monthly active users. “Since the Chinese App ban, Trell has witnessed 500% growth with over 15 million creators on its platform receiving more than 5 billion monthly views,” the company said. Bolo Indya Another TikTok clone app, Bolo Indya, closed a seed funding round of $500,000 with over 40 lakh monthly active users. The startup’s funding was led by Eagle10 Ventures and India Accelerator. With a focus on vernacular language growth, the company’s founder Varun Saxena had said he aims to “see ourselves to be on at least one smartphone of every Indian household with a non-English user within the span of next 18 months”. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a> <a href="https://www.businessinsider.in/stock-market/news/tata-motors-sbi-card-bandhan-bank-ril-britannia-sbi-cards-share-price-are-top-movers-on-dalal-street-today/articleshow/77605529.cms">Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia</a>

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