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Travel aggregator <keyword id="21163825" type="General" weightage="20" keywordseo="Ixigo" source="keywords" meta.keywordsubtype="org" meta.entityname="Ixigo" meta.hostid="261" meta.entityid="Ixigo">Ixigo</keyword> made a resounding debut on the Indian stock exchanges today, listing at Rs 138.10 on NSE and Rs 135 on BSE this morning. The stock of <keyword id="20586007" type="General" weightage="100" keywordseo="Le-Travenues-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Le Travenues Technology" meta.hostid="261" meta.entityid="Le Travenues Technology">Le Travenues Technology</keyword>’s stock, Ixigo’s parent company, which had an issue price of Rs 93, marked around 48% premium for its investors. The company, whose public offer worth Rs 720 crore was subscribed 53.95 times by retail investors, received a thumping approval from non-institutional investors (110.25 times) and qualified institutional investors (106.73 times) as well. Out of the Rs 720 crore issue, Rs 120 crore were to be generated from fresh issue (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), while the remaining Rs 620 crores were to be raised via offer for sale (OFS), or sale of shares by existing shareholders. Per the company’s draft red herring prospectus, the company is set to utilise around Rs 450 crore from its net proceeds towards funding its working capital requirements, and another Rs 258 crores to enhance its cloud infrastructure and technology. The remaining funds will be deployed for strategic acquisitions and general purposes. <cmsannotation type="cmsannotation" annotationid="What's so special about Le Travenues?" comment="subhead" text="What's so special about Le Travenues?">What's so special about Le Travenues?</cmsannotation> The company, which is home to three applications, namely <keyword id="20821976" type="General" weightage="20" keywordseo="ConfirmTkt" source="keywords" meta.keywordsubtype="org" meta.entityname="ConfirmTkt" meta.hostid="261" meta.entityid="ConfirmTkt">ConfirmTkt</keyword>, <keyword id="22094192" type="General" weightage="20" keywordseo="ixigo-and-abhibus" source="Orion">Ixigo and AbhiBus</keyword>, claims to be India’s highest <keyword id="859499" type="General" weightage="20" keywordseo="online-travel-agency" source="Orion">online travel agency</keyword> (OTA) app usage, with a total of 8.3 crore monthly active users across the 3 platforms. As of 31st December 2023, the combined number of registered users across their applications stood at 21.321 crores. Between 2020 and 2023, the Indian OTA industry grew at a CAGR of 18%, going from gross booking revenues worth Rs 74,900 crores in 2020 to Rs 1,23,900 crore in FY2023. The company also earned Rs 501.25 crores in net revenue during FY23. It also saw a sharp reversal in its profit after tax (PAT) margins between FY22, where it was -6.42% to 4.63% in FY23. The company’s PAT grew at a CAGR of 76.2% between FY 2021-23. <cmsannotation type="cmsannotation" annotationid="What are the experts saying?" comment="subhead" text="What are the experts saying?">What are the experts saying?</cmsannotation> Brokerage firms like Canara bank securities and BP Wealth foresee long-term growth potential in the stock, given its dominant position in the OTA segment. The company is positioned as the leading OTA for India’s next one billion consumers. As compared to its peers in the industry, namely <keyword id="6362992" type="General" weightage="20" keywordseo="Yatra" source="Orion">Yatra</keyword> and Easy Trip planners, Le Travenues has lower earnings per share (EPS), which is generally considered a measure of the company’s profitability. While Yatra has an EPS of Rs 0.69, Easy Trip has an EPS of Rs 0.77. In contrast, Le Travenues has an EPS of Rs 0. 58. The company also has its fair share of pitfalls to overcome. Its ticketing agreement with <keyword id="65866" type="General" weightage="20" keywordseo="IRCTC" source="Orion">IRCTC</keyword> is non-exclusive basis, which means if IRCTC decides to engage with its competitors, or terminate the agreement, it will have an adverse impact on the company’s business.

Ixigo makes a solid debut on stock exchanges, but what's next for the share?

<ul><li>The stock listed at ₹831 as compared to its IPO price of ₹648.</li><li>The grey market was expecting 25% listing gains from the stock.</li><li>The ₹1,900 crore IPO was subscribed almost 39 times the shares on offer. </li></ul><keyword id="15532259" type="General" weightage="20" keywordseo="cello-world" source="Orion">Cello World</keyword> debuted on the stock exchanges with a 28% premium on Monday, overshooting grey market expectations even if it’s by a small margin. The grey market was expecting 25% listing gains from the stock. During the trading session, it sustained most of its initial gains. The stock closed 22% higher than its issue price. The market cap of the company is at ₹17,636 crore, as per Bombay Stock Exchange. The ₹1,900 crore IPO of consumer goods company Cello World was subscribed almost 39 times the shares on offer. QIBs bid aggressively for the issue as this portion was subscribed 108 times as of Wednesday evening. The non-institutional investor (NII) portion was subscribed 24 times. Its retail portion was subscribed thrice over. The price band has been fixed at ₹617 to ₹648. The last few companies that debuted on the stock exchanges have given fairly positive listing returns, barring a few. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Infra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Company has a dominant market position say analysts The company manufactures, distributes and sells a wide range of products like drinkware, insulated ware, dinnerware, serveware, and glassware across India. It has products across categories like cleaning supplies, stationery, small kitchen appliances, moulded furniture, and air coolers. “Cello benefits from a distribution advantage due to its large off-take per retailer. Retailers, too, find it advantageous to stock Cello's products due to the comprehensive range, enabling them to fulfill diverse customer demands through a single brand,” says a report by BP Equities. Its main risks include fluctuations in raw material prices like plastic granules and plastic polymer prices etc and their supply chain issues. It also doesn’t own the trademark for its key brands, like ‘Cello’, ‘Unomax’, ‘Kleeno’ and ‘Puro’. Also, one of its competitors also uses the ‘Cello’ brand name for its writing instruments business. The company says that any adverse impact on its brand name due to the actions of competitors may adversely impact its reputation and business. Its margins, profitability depend on maintaining its existing capacity utilisation rate. “Consumer awareness towards safety and quality, shorter replacement cycles, a shift towards the aesthetics of products, loyalty to established brands, increasing disposable income, and nuclearization of families are contributing to the growth of the branded consumer ware market in India,” says a report by Geojit, which gives it a 'Subscribe' rating for the issue on a long-term basis. A report by Choice Broking also believes that the company has a dominant position in the market. “There are growth tailwinds for the sector and CWL is well placed to benefit from the same. But due to a highly priced issue, we are assigning a ‘Subscribe with Caution’ rating for the issue,” it adds.

Cello World stock closes 22% higher than issue price on debut day

British petroleum major <keyword id="111764" type="CITY" weightage="100" keywordseo="BP-Plc">BP Plc</keyword>, which is on the edge of entering the rapidly expanding jet fuel market of India, has crossed a significant regulatory milestone in the process. 
 "BP has been granted 'in-principle' approval to market <keyword id="59621" type="ORGANIZATION" weightage="100" keywordseo="Aviation-Turbine-Fuel">aviation turbine fuel</keyword> (ATF) in India ... Air BP aims to build a strong, sustainable and material business in India, drawing upon our global expertise combined with the skills of a strong local partner," a company spokesperson told ET. 
 
What attracted BP to India was its rapidly growing airline business, which is expected to be the third largest by 2020. BP, which is one of the world's largest aviation fuel marketers, has a presence in 50 countries and boasts of several airlines, airports and military organisations as its clients. 
 
After its debut in the Indian market, its long experience, expertise and brand equity will be in competition with the easy supply, longstanding ties with clients and control over marketing infrastructure of the already existing Indian companies. 
 
Talking of the legal formalities, for a licence to market transport fuel in India, a company must have invested or proposed to invest at least Rs 2,000 crore in exploration and production, refining, pipelines or terminals in the country. Last year, the Indian government had rejected BP's application for licence on this very ground. 
 These competitors include private players like Reliance Industries, Essar and a joint venture of Shell and state-run MRPL. However, even these players have failed to challenge the dominance of state firms, and especially <keyword id="6354412" type="COMPANY" weightage="100" keywordseo="indian-oil">Indian Oil</keyword>, which happens to be the market leader with a 64% share. The reasons for its dominance include traditional ties with clients, including the government, and superior infrastructure across the country. 
 
<a href="http://img12.olx.bg/images_prodavalnikcom/86493950_1_800x600_chisto-nova-tsisterna-piko-piko-british-petroleum-ho-187-gr-plovdiv_rev003.jpg">Image source</a>

This global petroleum giant is making its debut in the high-stakes Indian ‘Jet-Fuel’ market

<ul><li>Actor Bobby Deol's <keyword id="9422601" type="UNKNOWN" weightage="20" keywordseo="digital-debut-series">digital debut series</keyword> "<keyword id="8398807" type="PERSON" weightage="20" keywordseo="aashram">Aashram</keyword>" will premiere on August 28 on MX Player. </li><li>The 51-year-old actor took to social media to share the premiere date and first look teaser of the web series, directed by filmmaker Prakash Jha. </li><li>The series also features <keyword id="62704" type="PERSON" weightage="20" keywordseo="chandan-roy-sanyal">Chandan Roy Sanyal</keyword>, <keyword id="1403180" type="PERSON" weightage="20" keywordseo="Aaditi-Pohankar">Aaditi Pohankar</keyword>, <keyword id="2501305" type="PERSON" weightage="20" keywordseo="Darshan-Kumaar">Darshan Kumaar</keyword>, and Adhyayan Suman in pivotal roles. </li></ul> Actor Bobby Deol's digital debut series "Aashram" will premiere on August 28 on MX Player. The 51-year-old actor took to social media to share the premiere date and first look teaser of the web series, directed by filmmaker Prakash Jha. "Here is the first look of #Aashram, I am looking forward to seeing it together with you all on August 28, 2020 only on @MXPlayer. @prakashjha27 @IamRoySanyal @AaditiPohankar @DarshanKumaar @AdhyayanSsuman," Deol wrote on Twitter. The series also features Chandan Roy Sanyal, Aaditi Pohankar, Darshan Kumaar, and Adhyayan Suman in pivotal roles. Deol is also awaiting the release of his Netflix film "Class of 83", produced by <keyword id="1671" type="PERSON" weightage="20" keywordseo="Shah-Rukh-Khan">Shah Rukh Khan</keyword>'s Red Chillies Entertainment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/india-stock-brokers-hit-by-sebi-direct-market-access/articleshow/77198064.cms">India's broking industry just got the shock of its life – SEBI may soon allow investors to trade directly on the exchanges</a> <a href="https://www.businessinsider.in/business/corporates/news/ril-has-a-sobering-quarter-if-not-for-jio-and-bp-stake-sale-it-would-have-been-much-worse/articleshow/77264366.cms">RIL has a sobering quarter⁠— if not for Jio and stake sale to BP it would have been much worse</a> <a href="https://www.businessinsider.in/defense/news/comparison-of-indias-rafale-fighter-jets-with-chinese-latest-j-20-fighter-jets/slidelist/77238828.cms">India’s Rafale fighter jets — Here’s how it stacks up against Chinese J-20</a>

Bobby Deol's first web series "Aashram" to release on August 28

<ul><li>The 22-year old company’s ₹583 crore initial public offering (IPO) issue opens today, where the company will sell 58.9 lakh shares.</li><li>Rakesh Jhunjhunwala-backed Nazara will sell its shares in the price band of ₹1100-1101 per share.</li><li>Here’s why analysts are bullish about the company’s market debut.</li></ul>Gaming and sports media company Nazara Technologies heads for the public markets today. The 22-year old company’s ₹583 crore initial public offering (IPO) issue opens today, where the company will sell 58.9 lakh shares. The hype around the company is real as it rides on the digital excitement in the public markets, and of course, also because it is backed by ace stock market guru Rakesh Jhunjhunwaala. The stock market expert holds 11.38% shares in the company, and is not selling them with the IPO. And analysts are all bullish about the company’s public market debut. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name of Broking House </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GEPL </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Nazara eyes India’s vast internet market" comment="subhead" text="Nazara eyes India’s vast internet market">Nazara eyes India’s vast internet market</cmsannotation> Nazara is betting on India’s big and burgeoning internet ecosystem. In an interview with Business Insider, the company’s chief executive officer Manish Agarwal said that the IPO is a huge milestone in their goal of being one of the top 5 global gaming companies. For youngsters in India, 14-25 year olds, gaming is becoming the go-to entertainment and that will drive growth. “It’s different from people like us for whom movies were the source of entertainment – that’s a big shift, which makes gaming in India a very attractive market,” he said. And analysts agree. “The gaming industry is set to witness over 30% CAGR (compound annual growth rate) over 2020-2023 (estimated) on the back of high mobile penetration, increasing internet penetration and increasing number of gamers. Nazara has a widespread presence both in terms of geography and product portfolio which offers strong growth visibility,” said a report by Aditya Birla Capital. <cmsannotation type="cmsannotation" annotationid="Strong growth performance so far – losses can be managed" comment="subhead" text="Strong growth performance so far – losses can be managed">Strong growth performance so far – losses can be managed</cmsannotation> The company has reported strong year-on-year revenue growth, which analysts say adds to its credentials. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit/Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹181.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.02 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹186 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹262.1 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹26.6 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Six months ended September 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹207.06 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹10.1 crore </td></tr></tbody></table> The company’s foray into new categories and acquisitions of startups in the sectors like gamified e-learning, sports media and more, have also hurt the company’s profit and loss statements, but analysts don’t seem to mind the same. “The company has been reporting losses as they have increased their spending significantly on advertising and promotion from FY2020 onwards which will help drive strong topline growth for the company,” said analysts at Angel Broking. Analysts at GEPL capital agree as they said that while the growth has come at the expense of EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins and return ratios, the pivot was an essential strategy to foray into diverse lucrative opportunities, leveraging an ecosystem of partners and creating business moats. “All these acquisitions were funded through internal accruals. As the synergies and growth from these investments kick in, the margin profile and consequently return ratios will return back to a path of steady growth,” said the GEPL capital report. Nazara’s CEO Agarwal told Business Insider that their growth has come from their fundamental knowledge of the Indian gaming market and knowledge of the consumer trends. It also helps that Nazara holds the licenced mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. “A key factor to its success is the local knowledge, presence and focus on addressing the specific and unique opportunities and challenges in the regions it operates in. The Indian Gen-Z and millennial population form a significant portion of the gaming user-base, and companies including the company, have capitalised on the ever-growing interest of this population segment in sports and eSports through popular and relatable content,” said analysts at Kotak Securities. <cmsannotation type="cmsannotation" annotationid="Global presence another plus point for Nazara" comment="subhead" text="Global presence another plus point for Nazara">Global presence another plus point for Nazara</cmsannotation> Nazara’s presence across geographies also helps in its business potential, even as 41% of its revenue comes from India. It has established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. “The company believes that expanding its offerings footprint to heterogeneous cohorts of gamers will further deepen its competitive moats to defend and grow its strong market position. Considering its leading position in the mobile gaming industry in India with a presence across emerging and developing countries and ongoing positive sentiments for new IPOs in the current scenario. We believe a decent listing gain is possible,” said analysts at BP Wealth.

Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it

<keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> - India's largest corporate by revenues, profits and market value - topped 2021 Wizikey News Score ranking as India's most visible corporate in the media. The recognition comes on the back of Exchange4Media Group's recognition recently to Reliance as one of India's Brands with Best In-house Communications Professionals 2021. Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company. Wizikey's News Score is world's first standardised metric to measure news visibility for brands and individuals using Artificial Intelligence, Big Data, Machine Learning and media intelligence. The News Score takes into account various key criteria like volume of news, headlines presence, the reach of publications, readership and the like. The score ranges from 0 to 100, and is based on monitoring of over 5000 publications. It represents the media presence of a brand in publications that matter. For its No 1 position Reliance has a News Score of 84.9 for 2021, followed by State Bank of India, Bharti Airtel, Infosys, Tata Motors. Only a few global companies like Google and Facebook have a score above 90. Reliance's News Score excludes standalone headline mentions of 'Jio'. The inclusion should have meaningfully enhanced the score. Reliance made quite a few key announcements this year across its businesses, as well as philanthropic initiatives, which played a key role in its media visibility. Reliance was at the forefront of India's fight against Covid during the second wave in 2021. Most importantly, it transformed its manufacturing units to emerge India's single largest medical oxygen producer equivalent of 11 per cent of India's total production. Reliance supplied over 1000 MT per day liquid oxygen to support over one lakh hospitalized patients free of cost. Reliance also carried out the largest vaccine drive among India Inc to administer over 2.5 million vaccine doses to its employees, their families, as well as members of society. Reliance announced its road map to lead India's transition to Green Energy, including four Giga Factories at Jamnagar with over $10 billion of investment commitments Reliance announced five key collaborations - NexWafe, REC, Ambri, Sterling &amp; Wilson Solar and Stiesdal - for critical next generation technologies and implementation capabilities to drive its Green Energy foray. Reliance commissioned two gas fields in KG basin and successfully conducted auctions to sell its gas to domestic consumers. Reliance is now on its way to contribute 15 per cent of India's total natural gas requirement. Reliance Jio augmented its spectrum by 55 per cent in the auctions held in March 2021 and emerged the largest holder of sub-GHz and 2300 MHz bands. Reliance launched the most affordable smartphone 'Jio Phone Next' in collaboration with Google at an entry level cost of Rs 1,999. The phone runs on optimized version of Google's Android OS called 'Pragati OS'. In line with its vision to add technology-led solutions to serve customers better, Reliance group also made a few acquisitions during the year. They included JustDial, SkyTran, and Urban Ladder. Jio-bp launched their first fuel retailing outlet to start offering additivated fuels and a differentiated value proposition. Reliance has been a leading newsmaker among Indian corporates in the past as well. SEE ALSO <a href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms" data-type="tilCustomLink">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms" data-type="tilCustomLink">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-valuation-to-deliver-product-in-10-minutes/articleshow/88394937.cms" data-type="tilCustomLink">Two teenage Stanford dropouts have made their startup worth half a billion in 7 months</a>

Reliance Industries ranked as India's most visible corporate in media

<ul><li>A fire at an electric scooters showroom has killed eight people and injured several others.</li><li>The fire reportedly began at the EV showroom and spread to a hotel above the showroom.</li><li>Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> has announced compensation for the deceased and the injured.</li></ul>In a tragic incident, a fire at an electric scooter showroom killed eight people and injured several others. The incident occurred late last night and affected a hotel located above the EV showroom. While the fire reportedly began at the <keyword id="14969128" type="General" weightage="100" keywordseo="ruby-electric-scooters" source="Orion">Ruby Electric Scooters</keyword> showroom on the ground floor, it spread to the first and second floors of the <keyword id="14969532" type="General" weightage="50" keywordseo="ruby-pride-luxury-hotel" source="Orion">Ruby Pride Luxury Hotel</keyword>. The hotel reportedly had over 25 guests at the time. According to reports, eight people have already died from asphyxiation caused by the smoke. In addition, several people have reportedly been injured with burns and other injuries while trying to escape the fire. While the cause of the fire has not been announced yet, the officials suspect that the fire was caused by an electric scooter or a generator placed in the Ruby Electric Scooters showroom. "Fire broke out in electric scooter recharging unit on the ground floor, smoke from which overpowered the people staying on the first and second floor," said Hyderabad Police Commissioner CV Anand. Two fire engines were rushed to the spot to douse the fire. The fire brigade teams reportedly rescued seven people from the hotel trapped in the fire. Locals claimed that several people jumped from the building to escape the fire. Prime Minister Narendra Modi expressed his anguish over the incident and announced compensation for the deceased and the injured from the Prime Minister's National Relief Fund. “Saddened by the loss of lives due to a fire in Secunderabad, Telangana. Condolences to the bereaved families. May the injured recover soon. Rs. 2 lakh from PMNRF would be paid to the next of kin of each deceased. Rs. 50,000 would be paid to the injured,” the PMO India’s Twitter account quoted the prime minister. “It is a very unfortunate incident. Fire brigade teams tried their best to rescue people from the lodge but due to heavy smoke, some people died. Some others were rescued from the lodge. We are probing how the incident happened," Telangana home minister Md. Mahmood Ali said. <cmsannotation type="cmsannotation" annotationid="Not the first incident at an EV showroom" comment="subhead" text="Not the first incident at an EV showroom">Not the first incident at an EV showroom</cmsannotation> This is not the first fire incident where an EV has caught on fire. Over the last few months, there have been several EV fires, including an <a href="https://www.businessinsider.in/business/auto/news/electric-scooter-fire-accident-claims-another-mans-life-leaves-his-wife-and-two-daughters-with-severe-burns/articleshow/91063992.cms">incident</a> in Vijaywada, which resulted in the death of a man and severe burns to his wife and daughter. The government had tasked the Defence Research and Development Organisation (DRDO) to <a href="https://www.businessinsider.in/business/news/drdo-examines-ev-fire-incidents-finds-serious-battery-defects/articleshow/91743079.cms">investigate</a> the fire incidents, and the agency found serious defects in the batteries. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-tiago-electric-car-to-launch-soon/articleshow/94147690.cms">Tata Tiago EV to launch soon – could be the cheapest EV from the car maker</a> <a href="https://www.businessinsider.in/business/auto/news/lamborghini-to-reportedly-launch-its-first-hybrid-car-in-india-next-year-electric-car-may-debut-in-2028/articleshow/93793333.cms">Lamborghini to reportedly launch its first hybrid car in India next year, electric car may debut in 2028</a> <a href="https://www.businessinsider.in/business/auto/news/hero-electric-partners-with-jio-bp-for-ev-charging-and-battery-swapping-solutions/articleshow/93780099.cms">Hero Electric partners with Jio-bp for EV charging and battery swapping solutions</a>

A fire at an EV showroom has killed 8, several injured while trying to escape

<ul><li>Logistics startup company <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> made a tepid debut on Indian stock exchanges on May 24 due to weak market sentiment and poor financials of the company.</li><li>The company struggled to get demand for its IPO as investors stayed away from the IPO considering Delhivery is a loss-making company.</li><li>Contrary to most views, Credit Suisse has initiated an ‘outperform’ rating and suggested a 26% increase in share price.</li></ul>Gurugram-based Delhivery has often been bunched with other internet-based businesses like Zomato, <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">PayTm</keyword> and <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> — but a brokerage firm doesn’t think so. Though the logistics company banks on delivering goods for top e-commerce players, it doesn’t face what its clients have to do — spend money to acquire customers, as per Credit Suisse. “We prefer Delhivery to other internet peers on no customer acquisition cost, diversified growth — e-commerce and broader logistics, and cheaper valuation for the same growth play,” said a report by the brokerage firm. Credit Suisse initiated coverage on the company which listed at a flat 1% premium on May 24— with an ‘outperform’ rating. It expects the share price to zoom by 26% to ₹675 in a year. It believes that Delhivery has a ‘deep moat’ with scale, growth and profitability. Its rating is based on “strong moat and leadership in extant scale, network and technology, recent breakeven, with incremental growth aiding profitability synergistically, diversified growth in e-commerce, broader logistics and potential merit as an internet play vs others.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,882 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,011 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore </td></tr></tbody></table>Source: Delhivery DRHP and company filing Delhivery doubles its parcel volume The company also doubled its parcel volumes in FY22 gaining strong market share of around 24-25% in the third quarter — thanks to the business from e-commerce. Credit Suisse expects over 30% structural growth in its e-commerce volumes. While the <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword> was subscribed 1.63 times, most of its subscriptions came from the qualified institutional buyer category. The market seems to have lost its appetite for loss-making companies after a bad experience with <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">Paytm, Zomato</a> and the likes. The company widened its losses by over two times in FY22 to ₹1,000 crore. There were also concerns about its high valuations earning it an ‘avoid’ rating. “Despite an improvement in the topline, the company continues to make losses. As we are witnessing the negative market sentiment towards the similar category stocks (Zomato, Paytm), we suggest investors to avoid this issue,” said a pre-IPO report by BP Equities. Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others. Yet its high dependence on e-commerce is also a cause for concern. “A significant portion of the company's business is attributable to certain large customers. Their future actions may have an adverse impact on the company’s business. If company fails to expand the size of business with its existing customers, its business, revenue, profitability and growth may be harmed,” said HEM Securities’ on its IPO. Here are recommendations by brokerages at the time of IPO few weeks ago: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avoid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Note rated </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Short term investors Avoid the stock, long term can subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/india-created-14-unicorns-in-the-first-half-of-2022-before-funding-slowdown-hit-them/articleshow/91955385.cms">India created 14 unicorns in the first half of 2022 — before funding slowdown hit them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/apps/news/mx-player-launches-ads-free-watch-now-and-pay-later-option-for-users/articleshow/91957004.cms">This OTT player lets you ‘watch now and pay later’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/infosys-could-remain-the-vendor-of-choice-even-if-recession-comes-say-analysts/articleshow/91952813.cms">Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts</a>

Delhivery is nothing like Zomato or PayTM - Credit Suisse expects the stock to outperform

<ul><li>Shareholders are becoming more conscious of the environmental impact caused by corporates and they're willing to take the reins of change into their own hands.</li><li>Oil majors <keyword id="6383208" type="ORGANIZATION" weightage="20" keywordseo="exxon">Exxon</keyword>, <keyword id="60772" type="CITY" weightage="20" keywordseo="Chevron">Chevron</keyword> and <keyword id="46532" type="COMPANY" weightage="20" keywordseo="Shell">Shell</keyword> all saw upheavals this week as investors pushed for more accountability and better measures to address global warming. </li><li>As the world gets warmer, it’s more than likely that the number of legal challenges pointed at the oil and gas industry is only going to increase. </li></ul>Fossil fuels are being put on trial around the world as oil majors like Exxon, Chevron, and Shell are being forced to recognise the impact of <keyword id="6361617" type="UNKNOWN" weightage="20" keywordseo="climate-change">climate change</keyword>. The incidents of this week are a warning shot to other players in the field that greenwashing won’t work anymore. US oil giants Exxon and Chevron saw their own shareholders turn against them. A tiny hedge fund led by climate change activists called <a href="https://www.nasdaq.com/press-release/exxonmobil-announces-preliminary-results-in-election-of-directors-2021-05-26">Engine No.1</a> was able to replace two of Exxon’s board members with its own candidates. Meanwhile, at Chevron, 61% of its shareholders voted in favour of <a href="https://www.follow-this.org/61-of-chevron-shareholders-support-follow-this-climate-resolution/">Follow This’</a> proposal, which will force the company to cut its carbon emissions. And, in the Netherlands, another group of climate change campaigners called <a href="https://foe.org/news/historic-victory-judge-forces-shell-to-drastically-reduce-co2-emissions/">Friends of the Earth</a> won a court battle in Hague, which will force Shell to cut its carbon emissions by 45% over the next 10 years. Investors are more conscious of where they are willing to put their money today. ‘Impact investing’ — when investments are made with the intention to generate a positive, measurable and environmental impact along with financial returns — may have started among the millennials, but now, every generation wants it. <cmsannotation type="cmsannotation" annotationid="Why other oil majors should be nervous" comment="subhead" text="Why other oil majors should be nervous">Why other oil majors should be nervous</cmsannotation> The actions taken this week reflect the push among investors for the energy sector to take fossil fuels out of the equation. It's a very clear memo to oil majors that shareholders aren’t kidding about climate change — and the margin for bad faith is getting thinner by the second. According to a 2020 report by the International Energy Agency (<a href="https://www.iea.org/reports/the-oil-and-gas-industry-in-energy-transitions">IEA</a>), “There are few signs of large-scale change in capital allocation needed to put the world on a more sustainable path.” Simply put, big oil needs to put its money where its mouth is because so far, none of their goals are aligned with the Paris Climate Change Agreement target to limit global warming to 1.5 degrees Celsius. The IEA’s report shows BP doing better than the rest of the fossil fuel industry, but none of the big five — Exxon, Chevron, BP, Total and Shell — are anywhere close to clearing the bar. <div type="image" title="Screenshot (916)_edited" msid="83003044" hostid="261" caption="&amp;lt;p&amp;gt;Investment by oil and gas companies outside their core business areas has been less than 1% of total capital expenditure&amp;lt;/p&amp;gt;"></div> In India, the <keyword id="146133" type="COMPANY" weightage="20" keywordseo="National-Green-Tribunal">National Green Tribunal</keyword> (<a href="http://www.indiaenvironmentportal.org.in/content/470259/joint-inspection-report-on-gail-india-and-ongc-units-in-andhra-pradesh-12042021/">NGT</a>) flagged off environmental violations by <keyword id="64243" type="COMPANY" weightage="20" keywordseo="Oil-and-Natural-Gas-Corporation">Oil and Natural Gas Corporation</keyword> (<keyword id="6354737" type="COMPANY" weightage="20" keywordseo="ONGC">ONGC</keyword>) and GAIL in the Krishna-Godavari basin just last month. Oil leakages from the three units in the area were damaging farm land and polluting the water supply. The panel asked the two to pay ₹17 crore in penalties to the Central Pollution Control Board (CPCB). This may look like a big number for you or me, but it’s only 0.2% of ONGC’s profit in FY20. As the world gets warmer, it’s more than likely that the number of legal challenges pointed at the oil and gas industry is only going to increase. Shareholders are going to demand more accountability and companies will be forced to recognise the threat that fossil fuels pose to the world. Those still looking towards fossil fuels have a big reckoning in the works. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/softbank-backed-paytm-pivots-to-a-3-billion-ipo-plan-a-year-into-the-pandemic-it-could-be-the-largest-market-debut-in-india/articleshow/83000446.cms">Softbank-backed Paytm fast tracks IPO plan a year into the pandemic ⁠— a $3 billion fundraising could be the biggest market debut in India</a> <a href="https://www.businessinsider.in/tech/apps/news/facebook-may-restrict-accounts-that-repeatedly-spread-misinformation/articleshow/82994841.cms">Facebook may restrict accounts that repeatedly spread misinformation</a>

Exxon, Chevron and Shell are being forced to do something about climate change — and this is only the beginning of the big test for big oil

New Delhi, Jul 13 () Reliance Industries, India's most valuable company, will hold its first online AGM on Wednesday and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously. Reliance had so far held all in its annual general meeting (AGM) physically with shareholders outside Mumbai could never attend the annual event. They can now simply log into the event live, can listen to the plans and initiatives and comment and participate too, company sources said. For easy onboarding of its shareholders, RIL has launched an educative Chatbot via Whatsapp number +91-79771-11111 to nuance processing of logging in, asking questions and voting on the resolution. The Chatbot is equipped to answer queries and guide shareholders, prospective investors, media, and general public with accurate and immediate information on the AGM. A Chatbot works as 24x7 helpdesk, but this one can handle 50,000 querists simultaneously via conversational text and video, they said. The AGM on July 15 will showcase multiple first on a real-time basis - including a two-way live streaming and a brand-new virtual platform that enables more than 1 lakh shareholders from 500 locations, in India and overseas, to log in simultaneously, they added. The Chatbot, which debuted during Reliance's mega Rs 53,124 crore rights issue, is powered by Jio Haptik. So far, all the post-IPO AGMs of Reliance have been physical meetings that have often been equated with big fat Indian weddings. The company that is widely credited with having launched the equity culture in India, held AGMs in stadiums during times of its founder Dhirubhai Ambani. In 1985, 12,000 of them attended the Reliance AGM at the Cooperage Football Ground in Mumbai's Colaba. The next year, around 35,000 attended it at the city's Cross Maidan. Over the years, the AGMs got shifted to auditoriums even as its shareholder base swelled to over 26 lakh. And now the upcoming AGM will be virtual, where shareholders will be able to watch the AGM, ask questions to the chairman and vote - all aided by technology, in line with RIL's current focus, the sources said. By going online, RIL is bringing together its highly widespread shareholding of 26 lakh. In addition to shareholders in India, those in other countries like the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia will log in, they said. Platforms and capabilities to stitch the mega-AGM include video conferencing, the Jio Meet platform, Cisco Webex, and commercial webcast. All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders will be able to post their questions and eVote on resolutions. At the last AGM on August 12, 2019, the firm's billionaire chairman Mukesh Ambani announced a roadmap for Reliance to become a net-debt free company before March 31, 2021. But the oil-to-telecom conglomerate achieved net-debt free status last month itself on the back of a record fundraising from stake sales and rights issue. Reliance secured over Rs 1.18 lakh crore from global tech investors, including Facebook, by selling 25.24 per cent of its digital business and raised Rs 53,124 crore by selling shares to existing investors. Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company had said last month. Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net-debt free," it had said. At the last AGM, Ambani had also announced plans to sell a USD 15 billion stake in his group's oil-to-chemical business to Saudi Arabian Oil Co but the deal has got slightly delayed. ANZ BAL

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Ixigo makes a solid debut on stock exchanges, but what's next for the share?

Ira Alok Puranik

Cello World stock closes 22% higher than issue price on debut day

Katya Naidu

This global petroleum giant is making its debut in the high-stakes Indian ‘Jet-Fuel’ market

BI India Bureau

Bobby Deol's first web series "Aashram" to release on August 28

PTI

Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it

Sanchita Dash

Reliance Industries ranked as India's most visible corporate in media

IANS

A fire at an EV showroom has killed 8, several injured while trying to escape

Sourabh Jain

Delhivery is nothing like Zomato or PayTM - Credit Suisse expects the stock to outperform

Bhakti Makwana

Exxon, Chevron and Shell are being forced to do something about climate change — and this is only the beginning of the big test for big oil

Prabhjote Gill

Reliance 1st online AGM to feature brand-new virtual platform, Chatbot

PTI

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