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New Delhi: Shares of <keyword id="20599931" type="General" weightage="100" keywordseo="NTPC-Green-Energy" source="keywords">NTPC Green Energy</keyword> Ltd, the <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> arm of <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword>, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday. The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40. At the NSE, it listed at Rs 111.50, up 3.24 per cent. The company's market valuation stood at Rs 1,02,211.38 crore during the morning trade. Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE. The <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday. The Rs 10,000-crore share sale had a price band of Rs 102-108 per share. Proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes. NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy shares debut with over 3% premium

<ul class="summary-list"><li>Oil prices could surge past $200 a barrel if Iran's oil installations are taken offline, a chief commodities expert said.</li><li>Iran accounts for over 2 million barrels of crude exports per day.</li></ul>Oil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst <a target="_blank" href="https://www.cnbc.com/video/2024/10/03/oil-may-hit-200-if-irans-energy-infrastructure-is-targeted-analyst.html">told CNBC</a>.SEB's Bjarne Schieldrop noted that that Iran accounts for over 2 million barrels of crude and compensate exports per day. He said that if rising conflict in the region were to wipe out Iranian oil infrastructure, that would significantly reduce the OPEC+ coalition's spare oil capacity.That not only means higher prices but amplified market uncertainty, Schieldrop added: "The next question in the market would be, what will happen now in the strait of Hormuz, and that, of course, would then add a significant risk premium to oil."In the $200 per barrel scenario, <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent</a> crude, the international benchmark, would gain 161% from its current price.Oil is trading at $76.44 as of 11:20 am ET Thursday. Prices have risen nearly 10% from a bottom on Tuesday, triggered by Iran's major missile attack on Israel. The attack came in response to the Israeli ground offensive into Lebanon. Traders are monitoring for further escalation, with special attention on how Israel might retaliate.Despite the rally, Brent crude still trades around 16% below this year's $91 peak. Other analysts appear aligned with Schieldrop, noting that geopolitical tensions will remain insignificant until investors see oil infrastructure take actual damage."The market is complacent about geopolitical risk. If you don't see barrels going offline, like we saw with Libya recently, the impact doesn't matter much," Rapidan founder Bob McNally told <a target="_blank" href="https://www.youtube.com/watch?v=2I87xfAoUbo">CNBC</a>. He added: "I think they're hoping and expecting perhaps Israel will be restrained in its response, and that we won't see a material disruption in the energy production and flows."Still, some investors are betting on the possibility of damaged oil output, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/traders-bet-on-100-a-barrel-oil-as-mideast-risks-escalate">Bloomberg</a> reports. Nearly 27 million barrels of Brent $100 options calls were traded on Wednesday, meaning that traders are hedging against the risk of triple-digit oil prices.Growing tensions between Israel and Iran are not the only factor moving oil prices. In December, the OPEC+ cartel will decide whether to unleash more crude output, undoing some of the production coalition's production curbs.These restrictions were introduced to prop up oil prices, but have cost the alliance market share. Meanwhile, some members haven't stuck with their quotas, drawing the ire of Saudi Arabia, the OPEC leader.Last week, the kingdom warned that Brent could fall as low as <a target="_blank" href="https://markets.businessinsider.com/news/commodities/saudi-arabia-opec-oil-production-cuts-crude-prices-middle-east-2024-10?_gl=1*ani1tt*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzk3MDc1NC42ODQuMC4xNzI3OTcwNzU0LjYwLjAuMA..">$50 a barrel</a> if OPEC doesn't reduce outflows, as pledged. Some consider this a veiled threat that Riyadh will <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/saudi-arabia-oil-prices-brent-crude-outlook-opec-production-cuts-2024-9?utm_medium=ingest&amp;utm_source=markets">increase its own output</a> if members don't fall into line.

Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says

<ul><li><keyword id="20058929" type="General" weightage="100" keywordseo="Indian-Energy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Energy Exchange" meta.hostid="261" meta.entityid="Indian Energy Exchange">Indian Energy Exchange</keyword> recorded a 24% year-on-year growth in monthly volume in September 2024.</li><li>The electricity volume, including <keyword id="22675612" type="General" weightage="20" keywordseo="green-electricity" source="keywords">green electricity</keyword>, reached 10,332 MU.</li><li>India's <keyword id="20028292" type="General" weightage="20" keywordseo="energy-consumption" source="keywords">energy consumption</keyword> remained relatively stable at 141.3 billion units (BUs) in September 2024.</li></ul>Indian Energy Exchange (IEX), India's leading electricity exchange, experienced significant growth in September 2024 with a record monthly volume of 11,370 MU, representing a 24% year-on-year (YoY) growth. Electricity volume, including green electricity, reached 10,332 MU, reflecting a 21% YoY increase, while <keyword id="21681994" type="General" weightage="20" keywordseo="renewable-energy-certificates" source="keywords">renewable energy certificates</keyword> (RECs) doubled to 1,031 MU compared to the same period last year. The REC market witnessed a historic low price of ₹110 per certificate during a trading session, offering a favourable opportunity for obligated entities to meet their renewable purchase obligations and for voluntary customers to achieve sustainability goals. India's energy consumption remained relatively stable at 141.3 billion units (BUs) in September 2024, according to government data. A steady monsoon boosted hydro and wind power generation, leading to reduced prices in the Day-Ahead Market (DAM) and Real-Time Market (RTM). The Day-Ahead Market (DAM) witnessed robust growth, with volumes increasing 33% YoY to 4,610 MU in September 2024. Over the quarter, DAM registered 14,332 MU, a 27% increase compared to Q2FY24. Real-Time <keyword id="22699214" type="General" weightage="20" keywordseo="electricity-market" source="keywords">Electricity Market</keyword> (RTM) achieved its highest-ever monthly volume of 3,913 MU, a 34% YoY rise. RTM's quarterly volume reached 10,732 MU, up 31% YoY. In contrast, the Day-Ahead Contingency and Term-Ahead Market (TAM) experienced a decline, trading 1,086 MU in September 2024 and 2,684 MU during Q2FY25, down by 43% and 42% YoY, respectively. IEX's Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), recorded an extraordinary 214% YoY increase, trading 723 MU in September 2024. The quarterly total for the Green Market stood at 2,584 MU, a massive 246% YoY growth. The REC market achieved a milestone with 1,031 MU traded in September 2024, a 100% YoY increase. The clearing prices for the two trading sessions on 11th and 25th September were ₹112/REC and ₹110/REC, respectively, the lowest-ever price since the market's inception. The quarterly total volume reached 6,297 MU, a remarkable 353% YoY growth. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Indian Energy Exchange records 24% growth in September 2024

<ul><li>The Indian wearable market has declined for the second consecutive quarter.</li><li>The smartwatch segment has recorded a huge decline in shipments in Q3 2024.</li><li>The earwear segment has also declined, while the smart ring segment remains strong.</li></ul>The <keyword id="22725790" type="General" weightage="20" keywordseo="Indian-wearables-market" source="keywords">Indian wearables market</keyword> has declined for the second consecutive quarter, recording a 20.7% year-on-year decline in shipments in Q3 2024. There was a 10% decline in shipments in Q2 2024. According to a report by the International Data Corporation, 38 million devices were shipped in the country’s wearables market in Q3 2024. The decline is being attributed to a reduction in new product launches and a cautious inventory strategy. <h2>Smartwatch shipments decline</h2>The smartwatch category recorded a decline of 44.8% as shipments declined from 16.92 million devices in Q3 2023 to 9.34 million in Q3 2024. Not just the basic smartwatches, the shipments of premium smartwatches also declined by 39.9% year-on-year. The Smartwatch average selling price (ASP) however increased by 1.4% from $25.8 to $26.2. The wristband category, which remained strong in Q2 has also declined in Q3, recording a 48.4% year-on-year decline in shipments. The earwear category also struggled, with a 7.5% decline in shipments from 30.29 million in Q3 2023 to 28.52 in Q3 2024. <h2>The smart ring category continues to shine</h2>The smart ring market has remained strong, with 92 thousand smart rings shipped in Q3 2024. The quarter also recorded a decline in the average selling price of 16.2% to $162.1. Ultrahuman continues to lead the smart ring category in India with a 36.8% market share, boAt comes in second with a 20.5% share and Pi Ring is third with a 16.3% market share. <h2>Smartwatch market share in India</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Noise </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.40% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">boAt </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.80% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.20% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.60% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fire-Boltt </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.80% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.60% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Boult </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.30% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.10% </td></tr></tbody></table> Source: IDC Noise continues to dominate the Indian smartwatch market with a 27.4% market share in Q3 2024, up from a 20.7% market share in Q3 2023. boAt comes in second with a 16.7% market share, up from a 14.2% market share in Q3 2023. “Amid market trends like consolidation, premiumization, and evolving consumer expectations, we have not only weathered these changes but thrived, with a 10-15% year-on-year increase in average selling prices across marketplaces,” said Amit Khatri, Co-Founder, Noise in a statement to Business Insider India. “The smartwatch category remains stressed as we head into 2025 due to undifferentiated products and a limited number of brands in play. Its market is expected to remain flat or decline marginally in 2025,” said Vikas Sharma, senior market analyst, Smart Wearable Devices, IDC India. “However, we are seeing early signs of a gradual consumer shift from basic to advanced smartwatches, as the need for better health tracking with efficient sensors and advanced functionality is gradually coming to the fore,” Sharma added. <h2>TWS market share in India</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">boAt </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">36.80% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Boult </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.50% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Noise </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.10% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.90% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.50% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo + OnePlus </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.00% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.10% </td></tr></tbody></table> Source: IDC boAt continues to be the market leader in the TWS segment in Q3 2024 despite a decline in its market share. The company leads the market with a 36.8% market share, with Boult a distant second with a 13.5% market share. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms">Tata to buy a majority stake in Pegatron's iPhone plant in India</a> <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a>

Indian wearables market declines 20.7% in Q3 2024, smartwatch and earwear categories struggle

<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

Enviro Infra Engineers, which is involved in the development of turnkey projects of <keyword id="19979438" type="General" weightage="20" keywordseo="sewage-treatment-plants" source="keywords">sewage treatment plants</keyword> and sewerage systems, on Monday fixed a price band of ₹140-148 per share for its ₹650 crore <keyword id="19913114" type="General" weightage="20" keywordseo="Initial-Public-Offering" source="keywords">Initial Public Offering</keyword> (IPO). The initial share sale will open for public subscription on November 22 and conclude on November 26. The bidding for anchor investors will open for a day on November 21, the company announced. The city-based company's proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an Offer For Sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers. At the higher end of the price band, the IPO is valued at ₹650 crore, placing the company's market capitalization at approximately ₹2,600 crore. Proceeds from the fresh issue to the tune of ₹181 crore will be used to meet the working capital requirements, ₹100 crore will be used for payment of debt, ₹30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh. Besides, a portion will be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies. The treatment process installed by the company at most of the STPs is zero liquid discharge-compliant and the treated water can be used for horticulture, washing, refrigeration, and other process industries. Hem Securities is the sole book-running lead manager of the public issue. The equity shares of the company are expected to be listed on the BSE and NSE on November 29. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank">Kawasaki Ninja ZX-4RR launched in India priced at ₹9.42 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a>

Enviro Infra Engineers IPO to open on Nov 22; eyes ₹650 crore

<ul><li>FMCG giant HUL’s shares reported a decline of over 6% on Thursday.</li><li>This comes a day after the company reported a 2.33% decline in consolidated net profit in Q2.</li><li>The stock tanked 6.59% to ₹2,483.95 on the NSE.</li></ul>Shares of FMCG major <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords">Hindustan Unilever</keyword> Ltd (HUL) on Thursday tumbled over 6% after the firm reported a 2.33% decline in consolidated net profit for the second quarter ended in September. The stock tanked 6.59% to ₹2,483.95 on the NSE. The stock emerged as the biggest laggard among the Sensex and Nifty firms during the morning trade. Hindustan Unilever Ltd on Wednesday reported a 2.33% decline in consolidated net profit at ₹2,595 crore for the second quarter ended in September 2024, impacted by moderation in demand from the urban market. The company had logged a net profit of ₹2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing. However, revenue from product sales was up 2.36% at ₹15,703 crore in the September quarter, from ₹15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond's, Lifebuoy, Lakme, Brooke Bond, Lipton and Horlicks said. "In the September quarter, <keyword id="21419477" type="General" weightage="20" keywordseo="FMCG-demand" source="keywords">FMCG demand</keyword> witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance," HUL CEO and Managing Director Rohit Jawa said. HUL reported an underlying sales growth of 2% and underlying volume growth of 3%. Total expenses were at ₹12,581 crore in the September quarter, up 3.03% year-on-year. HUL's total income, which includes other income, was up 2.14% to ₹16,145 crore in the September quarter of FY25. Addressing an earnings call, HUL CFO Ritesh Tiwari said, "Two thirds of our business we do in urban areas, and one-third we do in rural areas … we are seeing growth in the urban market moderating. We are seeing rural growth recovery is gradual … it impacts all the categories that we have." On the outlook, he said, "In the near term, we expect demand trends to be stable with no further acceleration in pace of growth." In this context, Tiwari said, "Our focus remains on driving competitive volume-led growth, while continuing investments behind our brands and strategy priorities … If commodity prices remain where they are, we expect a low single digit price growth in the near-term." With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Hindustan Unilever shares tumble over 6% post Q2 results

The first day at a new job is always weird. You have no idea what you're supposed to be doing, who to talk to, or how to even really be. The theory is that over time you get the hang of it — but lots of workers make it months into their jobs and feel like they're still kind of winging it. It's not that they don't want to learn; it's that nobody's teaching them. In many pockets of corporate America, on-the-job training mostly amounts to "figure it out." Workers are struggling to get a handle on their jobs, and this failure falls on everyone — companies, managers, human-resources departments, and, in some cases, the workers themselves.You don't need to look far to find evidence that people don't feel ready when it comes to work. Some <a target="_blank" href="https://www.businessinsider.com/gen-z-workers-are-lazy-lack-soft-skills-managers-say-2023-8">bosses complain</a> that Gen Z workers don't know what they're doing and are lazy. <a target="_blank" href="https://www.businessinsider.com/gen-z-lazy-hiring-jobs-careers-hr-training-pandemic-2024-8">HR professionals and Gen Z workers</a> argue that young people want to be successful in the workforce, but they simply aren't given the tools to do it. In a survey from the <a target="_blank" href="https://blog.adobe.com/en/publish/2023/09/27/adobe-future-workforce-study-what-us-employers-need-know-about-gen-z-workplace#:~:text=Gen%20Z%20is%20hungry%20for%20mentorship%20and%20development&amp;text=Gen%20Z%20is%20eager%20for,percent)%20reported%20having%20a%20mentor.">software company Adobe</a>, 83% of Gen Z respondents said having a mentor at work was crucial to their career, but only half said they had a mentor. It's not just young workers who are facing a training problem; it's everybody. For <a target="_blank" href="https://www.gallup.com/394373/indicator-employee-engagement.aspx">Gallup's employee-engagement indicator</a>, which analyzes employee perspectives using random samples of working adults, less than half of US employees said they knew what's expected of them at work. This is a costly problem, too: <a target="_blank" href="https://www.gallup.com/workplace/393497/world-trillion-workplace-problem.aspx">Gallup</a> found employees who weren't engaged cost $8.8 trillion in lost productivity worldwide.Just figuring out the day-to-day basics of the job is a challenge. The pandemic-driven upheaval of the past several years led to <a target="_blank" href="https://www.businessinsider.com/great-resignation-still-going-layoffs-low-job-openings-quits-high-2022-11">high amounts of</a> job-hopping, organizational brain drain, and a <a target="_blank" href="https://www.businessinsider.com/loyalty-employee-employer-job-security-broken-work-companies-bosses-2024-1">decline in loyalty</a> among employers and employees. The chaos has left employers, managers, and employees wondering just how much time and money it's worth investing in training in the first place. The rise of remote and hybrid work has complicated the situation even more. It's tough to learn by osmosis over Slack, and <a target="_blank" href="https://www.businessinsider.com/hr-software-tech-companies-employees-productivity-workday-oracle-adp-2024-8">the deluge of HR apps and training modules</a> isn't filling in the gaps."Most companies want employees to 'hit the ground running' and use apps, AI, and training videos to avoid disrupting another employee's flow or for the lack of staff to train someone new or help someone learn a new skill," Ana Goehner, a career strategist and HR professional, said.That may work in some instances, but in others, instead of hitting the ground running, workers find themselves perpetually zig-zagging, unable to break into a full sprint.That people feel like they're not equipped to do their jobs isn't a new phenomenon. There's been a long-standing decay of investment in learning and training by employers as part of an effort to create leaner organizations, said Kenneth Matos, the director of market insights at HiBob, an HR-tech company. If you're cutting costs, training is an easy place to do it. That's especially true when many employers use the internet to access a wider talent pool than in the past, which means they can just look for a candidate who already knows everything instead of having to teach someone. And, of course, plenty of companies have been axing middle managers, the people who would have previously been in charge of training up younger or newer employees."You cut away the people who are the link between big strategic ideas and day-to-day tactical activities," Matos said. "And so you end up with a scenario of a big strategic speaker talking to a much more junior doer, and they're like, 'I don't know how this translates into my job.'" Making matters worse, in many workplaces, training and mentoring are treated as an extra, rather than an integral part of the job, if they're noticed at all. In your performance review, "I spent 10 minutes explaining something to the new guy he was too afraid to ask his boss about" doesn't rate very highly. As workers and managers are increasingly overextended, these types of unmeasured, softer activities can fall by the wayside. This creates a conflicting web of incentives. It may be better, organizationally, for a manager or experienced employee to spend time teaching everyone on their team to complete a complex task so that a team's performance is better overall, but if they have an individual quota to meet, they may opt to focus on doing the task themselves, even though it's not what's best for the business."You end up with this really weird tension around organizational citizenship behaviors like mentoring and developing employees," Matos said. "Do you give a manager a lower quota because they are also magnifying everybody else's, or are you assuming they're going to do more than everybody else, are more talented, and also do the mentoring?"The people in the middle — who find themselves in between the big bosses and the little guys — are going to focus more on managing up than managing down. It's hard to tell the CEO that you can't come to that third unnecessary meeting of the day because your time would be better spent training that new hire on logging sales calls."Managers feel so caught up, and oftentimes they feel pressure of, 'OK, well if I'm going to disappoint someone, then it's going to be someone junior to me and not someone senior to me,'" said Ashley Herd, the founder of Manager Method, a training platform for managers.Many managers really are over it. <a target="_blank" href="https://www.gallup.com/workplace/510326/manager-squeeze-new-workplace-testing-team-leaders.aspx">Gallup found</a> that in 2023, managers were likelier than nonmanagers to say they're disengaged at work, burned out, and on the lookout for a new job. Their workers have been given more responsibilities, their teams have been restructured, and they're expected to accomplish everything with fewer resources, as in, money. And less than half of managers said they're sure they already had the skills needed to be great at their jobs, meaning managers weren't getting taught to be managers.At the r/managers forum on Reddit, the what-am-I-doing sentiment is evident. "Is it normal to get zero training as a new manager?" one Redditor <a target="_blank" href="https://www.reddit.com/r/managers/comments/1d6soeu/no_training_in_a_figure_it_out_situation/">asked</a>. "I have reviewed the team's work over the past couple of years, asked them questions to clarify a few things, and asked my boss questions to clarify a few things and have basically picked up most of it. Thought it was kind weird I got zero training, though."Technology is supposed to make training better, in theory. Why have an HR person go over the same PowerPoint on vacation policy for every new hire when a quick video or document stored away somewhere can do it just fine? That may work for simple processes like requesting time off or finding subscription logins, but it can become a problem when companies try to throw technology at their more-in-depth training problems. Nobody knows what they're doing here? Why not get an app to fix that? One of the biggest issues with using tech to solve what's ultimately a human problem is that it's hard to know if anyone is even going to use it. Take mentorship: Having one-on-one coaching from someone with more experience can help workers gain skills and knowledge that can't be found in a training video. It can also make workers likelier to stick around longer, help them feel more connected, and boost the sharing of institutional knowledge. Fostering these kinds of relationships is important, hence why the <a target="_blank" href="https://www.mentorcliq.com/blog/mentoring-impact-report">vast majority of Fortune 500 companies say</a> they have mentoring programs, many of which are facilitated by apps and software. How many people are actually using those programs, however, is unclear. Christy Pettit, the CEO of Pollinate Networks, which creates mentoring software, told me she recently spoke with a large multinational that told her despite having 2,000 licenses for the mentoring program, which was mainly an app, fewer than 200 people were using it and participation was declining every quarter."Most companies say they have a mentoring program, but few have one that works," she said. "It feels a little bit like when you buy a gym membership, and it makes you feel like you're doing something, but you may or may not be going to the gym."In some cases, tech-based training materials are disconnected from the realities of the work. All the training videos are done in an "official" corporate speak it turns out nobody actually uses, Matos, from HiBob, said. Or managers aren't well versed in what their charges are being taught and end up wanting the task done differently.Even when companies invest in training, it can often be directed toward the wrong people. Herd said that businesses often make the mistake of spending a ton of money on fancy retreats and training courses for their most senior leaders without making much, if any, investment in the bottom rungs."You could spend a fraction of that and give good training to all of your employees, and you're probably going to get more ROI if that's what you're focused on," she said.Stephanie Wolf, a vice president at RebuttalPR, a legal-communications firm, said the company learned the hard way about the costs of not investing enough time and energy in training people. As the firm grew, managers wouldn't realize people didn't know how to do timely tasks until they became urgent, or they'd discover employees were doing things in a way that wasn't consistent with the documentation and processes in place. That meant they had to rely more on senior staff to do the work and that projects took longer because training was happening alongside execution. "We've seen how our whole team can suffer when we don't train folks thoroughly enough," she said. To ensure accountability, she's now the point person on training, because the company found that when training was everyone's job, it was no one's. The firm has taken steps to get all the necessary information in one place and to slow the onboarding process down — instead of expecting people to take a week to get up to speed, it now gives them about a month.Wolf acknowledged it's "super easy for training to fall by the wayside when your client work gets busy," which means not allowing that to happen is a conscious effort. "Investing time now is going to save us all time in the long run," she said.It's easy to blame hybrid and remote work for some of these issues, to argue that if people were just gathered in an office together, that would fix things. But many HR professionals and career coaches say that's not necessarily the case. Yes, human interaction is helpful, but it doesn't solve problems like misaligned incentives, increasingly stretched managers, and a lack of a real, holistic plan for getting people up to speed. A remote-work training plan probably has to look different from an in-person one, but it's not impossible to craft. "In a remote environment, you, as the leader, need to model and also hold the individual accountable for taking initiative, saying, 'Hey, if you need something, I need you to tell me because I can't see you,'" Phoebe Gavin, a career and leadership coach, said.Gavin emphasized that it's not just on companies and managers to make sure employees are learning and getting onboarded but also on individual workers. Essentially, if you see something — or don't know something — say something. Ask questions, or take the initiative to figure things out on your own. I told her about an experience I'd had at a job where on my first day, one of four "important" passwords I'd received was for software the company didn't use anymore. I expressed disappointment that the HR department hadn't caught the error, which it took me a long time to figure out even was an error. She pointed out that I should have then gone to HR to alert them to the error so the next new person didn't have the same experience. I did not."That's a tiny place where you could have a positive impact," Gavin said. It wasn't necessarily my fault, she said: "Just that was an opportunity that you didn't take, and those sorts of things happen all the time."But not everyone gets the chance to sound the alarm on their employer's faulty training system before it's too late. That's what happened to Michelle, which is a pseudonym I'm using to protect her privacy. Before starting a job at a science-focused communications firm earlier this year, she was assured that she would get all the training she needed to overcome the fact that she didn't come from a scientific background. When she started, she was surprised by the deluge of training modules and videos that were added to her plate on top of the tasks of the job itself. There were supposed to be meetings with other, more seasoned coworkers after those video training sessions, but eventually, almost everyone stopped showing up. She was fired in a matter of weeks after being told she wasn't picking things up fast enough. She said she received little feedback and hadn't been given warning that things were going wrong."I felt blindsided by the termination just because I didn't think I was given enough time to do all of this," she said. "I was led to believe they would kind of hold my hand a little bit at the beginning, and a month in, to me, is very much still the beginning."You know how there are certain tasks in life that feel designed to be so complex that you'll give up? Like filing an insurance claim or <a target="_blank" href="https://www.businessinsider.com/cancel-subscriptions-congress-ftc-dark-practices-autorenewal-2023-2">quitting the gym</a>. Work should not be like that, but for many people, it is.Employees have complained about just being thrown into the fire forever. Many employers subscribe to the idea that you just toss people into the water and see who can swim. Trial by error is part of learning at work — one of the best ways to learn how to do something is to just try doing it. But it shouldn't be the entire approach. You know how you learn at school? The teacher explains something, you do your homework, it gets graded, you take a test, and you move on once you more or less figure it out. Imagine if teachers just piled 15 algebra tests on high-school students and everyone hoped for the best.There are aspects of the current workplace environment that make training more complicated to tackle. Remote work is different — you can't just lean over and ask the person next to you how this one software works again when you're typing on your laptop alone from your couch. Workers and employers don't feel as tied to one another, so there may be a decline in investment from both sides in the idea of getting supergood at the task at hand. The <a target="_blank" href="https://www.businessinsider.com/remote-workers-middle-managers-most-affected-by-layoffs-experts-2024-2">middle-management class</a> is increasingly stretched thin and hollowed out.Above all, it's really easy to load up on a bunch of tech-based solutions without identifying whether they actually solve anything. Relying on tech is appealing financially because buying a software license is a heck of a lot cheaper than paying a real live person. Many of the HR experts I talked to for this story suggested the training gap was a problem artificial intelligence might fix, a <a target="_blank" href="https://www.businessinsider.com/generative-ai-exaggeration-openai-nvidia-microsoft-chatgpt-jobs-investors-markets-2024-3">common refrain for intractable problems</a>, no matter the industry. Maybe that's true — if your manager won't have a one-on-one with you, having a chatbot to ask questions to isn't the worst thing in the world (assuming said chatbot knows stuff and doesn't make things up). But AI isn't going to be a panacea here. When you need to speak to a real person, no Coursera video or HR app or robot can do the trick. People make human mistakes, and sometimes humans need to address them.Wolf's firm is fully remote, but managers have noticed that Gen Z hires, in particular, tend to inquire about an in-person component for training. So they've adjusted. For a couple of incoming hires, they've rented a coworking space and enlisted some other employees to work alongside them for a couple of days to help them learn the ropes.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

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On-the-job training is broken. Companies are paying a steep price.

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