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<keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword> declared the highest-ever standalone net <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> of Rs 40,526 crore in FY24, the company informed the exchange in a filing. The consolidated net profit of the company is also highest at Rs 57,101 crore in FY24. The <keyword id="21739636" type="General" weightage="20" keywordseo="crude-oil-production" source="keywords">crude oil production</keyword> of the company has surged by 2.4 per cent quarterly to 5.359 MMT in Q4 FY24. However, the standalone gross revenue of the company declined 11 per cent YoY to Rs 1,38,402 crore in FY24 from Rs 1,55,517 crore in FY23. The standalone profit has surged yearly by 1.1 per cent to Rs 40,526 crore in FY24. The company also announced a total <keyword id="20047030" type="General" weightage="20" keywordseo="dividend" source="keywords">dividend</keyword> of Rs 12.25 per share with a total payout of Rs 15,411 crore. This includes an interim dividend of Rs 9.75 per share which is already paid during the year and a final dividend of Rs 2.50 per share recommended by the Board. The Crude Oil production of the company in Q4 FY'24 saw an increase of 2.4 per cent over Q4 FY'23 whereas <keyword id="20646431" type="General" weightage="20" keywordseo="gas-production" source="keywords">gas production</keyword> decreased by 3 per cent. The company informed that it drilled 541 wells, the highest recorded in the past 34 years, comprising 103 exploratory and 438 development wells. ONGC invested around Rs 37,000 crore in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> in FY24, compared to Rs 30,208 crore spent in the previous year. ONGC has also declared 11 discoveries (6 in on land, 5 in offshore) during FY 2023-24 in its operated acreages. Out of these, 6 are prospects (1 in on land, 5 in offshore) and 5 are new pool (on land) discoveries. The shares of ONGC gained more than 46 per cent in the last six months on the national stock exchange and were trading at Rs 280 at the time of filing this report. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/go-digit-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110276113.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/go-digit-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110276113.cms" target="_blank">Go Digit IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/sports/webstories/kolkata-knight-riders-vs-sunrisers-hyderabad-head-to-head-record-match-timings-and-more/slidelist/110274500.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kolkata-knight-riders-vs-sunrisers-hyderabad-head-to-head-record-match-timings-and-more/slidelist/110274500.cms" target="_blank">Kolkata Knight Riders vs Sunrisers Hyderabad – head-to-head record, match timings and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a>

ONGC declares highest ever standalone profit in FY24

<ul><li><keyword id="20113893" type="General" weightage="20" keywordseo="HP" source="keywords" meta.keywordsubtype="org" meta.entityname="HP" meta.hostid="261" meta.entityid="HP">HP</keyword> has remained the market leader, with over 30% market share, but dropping year-on-year.</li><li>The <keyword id="21087685" type="General" weightage="100" keywordseo="Indian-PC-market" source="keywords">Indian PC market</keyword> shipped 3.07 million units during <keyword id="21174432" type="General" weightage="20" keywordseo="Q1-2024" source="keywords">Q1 2024</keyword>, up from 2.99 million units shipped in Q1 2023 — a 2.6% increase in shipments.</li><li><keyword id="19969515" type="General" weightage="20" keywordseo="Dell" source="keywords" meta.keywordsubtype="org" meta.entityname="Dell" meta.hostid="261" meta.entityid="Dell">Dell</keyword> and <keyword id="20240684" type="General" weightage="20" keywordseo="Acer" source="keywords" meta.keywordsubtype="org" meta.entityname="Acer" meta.hostid="261" meta.entityid="Acer">Acer</keyword> both reported a nearly 30% increase in shipments year-on-year.</li></ul> The Indian PC market, which includes desktops, notebooks and workstations reported a modest growth of 2.6% year-on-year in Q1 2024, marking the third consecutive quarter to report year-on-year growth in shipments. According to data from the International Data Corporation (IDC), 3.07 million units of PCs were shipped in India in Q1 2024, up from 2.99 million units in Q1 2023, recording a 2.6% growth. “The consumer segment had a third consecutive quarter of YoY growth. However, the demand softened from the high double-digit growth in the previous two quarters to under 5% growth. Vendors focused on clearing inventory, while a few vendors faced shipment delays leading to lower than expected sell-in,” said Bharath Shenoy, Research Manager, IDC India &amp; South Asia. <cmsannotation type="cmsannotation" annotationid="India PC market top companies" comment="subhead" text="India PC market top companies">India PC market top companies</cmsannotation> <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;">Q1 2024 </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;">Q1 2023 </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;">Change </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;">HP </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;">9.23 lakh </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;">10.12 lakh </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;">-8.80% </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;">Dell </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;">5.37 lakh </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;">4.17 lakh </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;">28.80% </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;">Acer </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;">4.74 lakh </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;">3.68 lakh </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;">28.80% </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;">Lenovo </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;">4.64 lakh </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;">4.7 lakh </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;">-1.30% </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;">Asus </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;">1.82 lakh </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;">1.98 lakh </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% </td></tr></tbody></table> Source: IDC HP has emerged as the market leader despite a decline in shipments. The company shipped 9.23 lakh units in Q1 2024, down from 10.12 lakh units in Q1 2023, recording an 8.8% decline. While HP continued to lead in both desktop and notebook categories, its decline in shipments was due to delay in shipments and reduced enterprise orders. Dell and Acer both reported a nearly 30% increase in shipments year-on-year. Dell shipped 5.37 lakh units in Q1 2024, up from 4.17 lakh units in Q1 2023. The company fared well in both commercial and consumer segments. Dell had one of its best quarters in the commercial desktop category, boosted by orders from the government. Acer on the other hand shipped 4.74 lakh units, up from 3.68 lakh units. The company’s performance was boosted by good shipments in the online segment. <cmsannotation type="cmsannotation" annotationid="PC shipments market share" comment="subhead" text="PC shipments market share"><keyword id="20148358" type="General" weightage="20" keywordseo="PC-shipments" source="keywords">PC shipments</keyword> market share</cmsannotation> <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;">Q1 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;">Q1 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;">HP </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;">30.10% </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;">33.80% </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;">Dell </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;">17.50% </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;">13.90% </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;">Acer </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;">15.40% </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;">12.30% </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;">Lenovo </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;">15.10% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.70% </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;">Asus </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;">5.90% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.60% </td></tr></tbody></table> Source: IDC In addition to a decline in shipments, HP’s market share also declined from 33.8% in Q1 2023 to 30.1% in Q1 2024. Dell and Acer continued to perform well, increasing their market share while everyone else reported a decline. “The PC Market in India is facing challenges in the commercial segment due to reduced PC procurement from the IT/ITES sector and global accounts which traditionally drive significant volumes. The market is expected to start recovering by the end of 2024 with refresh buying from the enterprise segment,” said Navkendar Singh, AVP, Devices Research, IDC Asia/Pacific SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/go-digit-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110276113.cms">Go Digit IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/sports/webstories/kolkata-knight-riders-vs-sunrisers-hyderabad-head-to-head-record-match-timings-and-more/slidelist/110274500.cms">Kolkata Knight Riders vs Sunrisers Hyderabad – head-to-head record, match timings and more</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a>

India's PC market grows by 2.6% in Q1 2024, recording third consecutive quarter with growth

A year-long study of the <keyword id="749867" type="General" weightage="20" keywordseo="dietary-habits" source="Orion">dietary habits</keyword> of 9,341 Australians has backed growing evidence that highly processed and refined foods are the leading contributor to rising obesity rates in the Western world. The new study, in the latest issue of the journal Obesity conducted by the University of Sydney's Charles Perkins Centre (CPC), was based on a national nutrition and physical activity survey undertaken by the Australian Bureau of Statistics (ABS), and further backs the '<keyword id="15478813" type="General" weightage="20" keywordseo="protein-leverage-hypothesis" source="Orion">Protein Leverage Hypothesis</keyword>'. First put forward in 2005 by professors Raubenheimer and Stephen Simpson, the Protein Leverage Hypothesis argues that people overeat fats and carbohydrates because of the body's strong appetite for protein, which the body actively favours over everything else. Because so much of modern diets consist of highly processed and refined foods -- which are low in protein -- people are driven to consume more energy-dense foods until they satisfy their protein demand. "As people consume more junk foods or highly processed and refined foods, they dilute their dietary protein and increase their risk of being overweight and obese, which we know increases the risk of chronic disease," said lead author Dr Amanda Grech, a Postdoctoral Research Fellow at the CPC and the university's School of Life and Environmental Sciences. "It's increasingly clear that our bodies eat to satisfy a protein target," added Professor David Raubenheimer, the Leonard Ullmann Chair in Nutritional Ecology at the School of Life and Environmental Sciences. "But the problem is that the food in Western diets has increasingly less protein. So, you have to consume more of it to reach your protein target, which effectively elevates your daily energy intake. "Humans, like many other species, have a stronger appetite for protein than for the main energy-providing nutrients of fats and carbohydrates. That means that if the protein in our diet is diluted with fats and carbohydrates, we will eat more energy to get the protein that our bodies crave." Proteins are the building blocks of life: every cell in the body contains them, and they are used to repair cells or make new ones; and it's estimated that over a million forms of protein are needed to allow a human body to function. Protein sources include meats, milk, fish, eggs, soy, legumes, beans, and some grains such as wheat germ and quinoa. The University of Sydney scientists analysed data from a cross-sectional survey of nutrition and physical activity in 9,341 adults, known as the National Nutrition and Physical Activity Survey which was conducted from May 2011 to June 2012, with a mean age of 46.3 years. They found the population's mean energy intake was 8,671 kilojoules (kJ), with the mean percentage of energy from protein being just 18.4 percent, compared with 43.5 percent from carbohydrates and from 30.9 percent from fat, and just 2.2 percent from fibre and 4.3 percent from alcohol. They then plotted energy intake versus the time of consumption and found that the pattern matched that predicted by the Protein Leverage Hypothesis. Those who consumed lower amounts of protein in their first meal of the day went on to increase their overall food intake in subsequent meals, whereas those who received the recommended amount of protein did not -- and, in fact, declined their food intake throughout the day. They also found a statistically significant difference between groups by the third meal of the day: those with a higher proportion of energy from protein at the start of the day had much lower total energy intake for the day. Meanwhile, those who consumed foods low in protein at the start of the day proceeded to increase consumption, indicating they were seeking to compensate with a higher consumption of overall energy. This is despite the fact the first meal was the smallest for both groups, with the least amount of energy and food consumed, whereas the last meal was the largest. Participants with a lower proportion of protein than recommended at the first meal consumed more discretionary foods -- energy-dense foods high in saturated fats, sugars, salt, or alcohol -- throughout the day, and less of the recommended five food groups (grains; vegetables/legumes; fruit; dairy and meats). Consequently, they had an overall poorer diet at each mealtime, with their percentage of protein energy decreasing even as their discretionary food intake rose -- an effect the scientists call 'protein dilution'. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fusion-micro-finance-ipo-allotment-how-to-check-allotment-status-listing-date-and-more/articleshow/95407416.cms" style="">Fusion Micro Finance IPO allotment – How to check allotment status, listing date and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/us-reports-nearly-30000-weekly-child-covid-cases/articleshow/95397876.cms" style="">US reports nearly 30,000 weekly child Covid cases</a>

You're eating fats and carbs because your body wants protein

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s software export revenue and remittances act as a strong counter-cyclical buffer against the increase in current account deficit (<keyword id="52599" type="General" weightage="80" keywordseo="cad" source="Orion">CAD</keyword>) due to a hike in global oil prices and rupee depreciation, said the State Bank of India's (SBI) Chief Economic Adviser. In a research report Dr <keyword id="6448502" type="General" weightage="50" keywordseo="soumya-kanti-ghosh" source="Orion">Soumya Kanti Ghosh</keyword>, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million. <keyword id="4757" type="General" weightage="80" keywordseo="ghosh" source="Orion">Ghosh</keyword> said contrary to the expectations, the Q1FY23 Balance of Payments (BOP) numbers have shown a strong counter-cyclical buffer in the form of service exports and remittances. For example, in Q1, India's CAD was expected to reach $30 billion/3.8 per cent of gross domestic product (GDP), but the actual numbers came in at 2.8 per cent of GDP. The positive surprise was because of strong remittances and software exports, the CAD got a lift of 60 basis points, Ghosh said. "We expect that if such trends of strong remittances and software exports have continued (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> data suggests software exports in Q2 were strong) in Q2, and India's CAD comes in below the threshold level of 3.5 per cent of GDP in Q2, the CAD for FY23 could still be closer to 3 per cent benchmark and not in excess of 3.5 per cent of GDP," he added. Also, forex reserves could jump by another $5 billion as swap transactions reverse and thus have a positive impact on the rupee as is being currently witnessed, he noted. To understand the factors that are impacting India's CAD, Ghosh worked on the structural vector auto-regressions (SVAR) model. With oil forming 30 per cent of India's import bill, it has a major impact on macroeconomic variables. An increase in oil import price impacts directly the trade deficit and consequently, CAD gets widened. That apart, it also results in inflation. According to Ghosh, the SVAR model introduces a counter-cyclical response to increased oil prices in the form of software service exports that is impacted positively because of rupee depreciation. "Although remittances are positively impacted, we have not considered them in our SVAR model because of data volatility." The results of the SVAR model clearly give an idea of the negative impact of oil price shock on CAD, inflation and growth in one direction and the positive impact of software exports on CAD as a result of rupee depreciation. In particular, a positive shock to oil prices leads to an immediate and sharp increase in CAD, which dissipates completely in about eight quarters. The trade deficit also increases up to two quarters after the initial positive oil price shock, he said. "This implies that India's trade deficit may already have been adversely impacted for the first half of the current fiscal because of the oil price shock," Ghosh said. In the case of GDP, a positive shock to oil prices leads to an immediate decline, which however starts reversing after the third quarter and completely dissipates after the seventh quarter. "This implies that India's first-half GDP growth in FY23 could have been impacted because of the oil price shock. Most interestingly, the rupee-dollar exchange rate also gets impacted and it depreciates slightly after an increase in oil prices till three quarters following which it starts appreciating," he said. As a result, the rupee outlook is likely to improve in Q4 of FY23. The impact of oil price on consumer price index (CPI) inflation will dissipate after four quarters and it means that the CPI inflation outlook for FY24 will be consistent with RBI's forecast of 5 per cent. Ghosh said India's software exports are on the rise with the share of the offsite mode of exports by Indian IT service companies increasing to 88.8 per cent in FY22 compared to 82.8 per cent five years ago. Ghosh said a $10 increase in crude oil prices leads to an increase of 40 bps in CAD, 50 bps in CPI and a 23 bps decline in growth with software exports acting as a counter-cyclical buffer. "The exchange rate pass-through from variance decomposition method shows it is at least 10 per cent for CAD, inflation and growth, but significantly stronger at 35 per cent for software exports. For every rupee depreciation, software exports increase by $250 million," Ghosh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bears-weigh-on-indian-markets-due-to-negative-global-cues/articleshow/95418328.cms">Bears weigh on Indian markets due to negative global cues</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fusion-micro-finance-ipo-allotment-how-to-check-allotment-status-listing-date-and-more/articleshow/95407416.cms">Fusion Micro Finance IPO allotment – How to check allotment status, listing date and more</a>

For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

Lenovo-owned smartphone brand <keyword id="11148" type="CITY" weightage="20" keywordseo="Motorola">Motorola</keyword> has hinted that its "Edge 20" series is coming soon for Indian users. The company has posted some teasers on its official Instagram and <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> accounts with the hashtag #FindYourEdge, suggesting an imminent launch of the Edge 20 lineup in India. The Edge 20 series consists of three smartphones -- Edge 20, Edge 20 Lite and Edge 20 Pro. However, it's unclear if Motorola will bring all three smartphones to India or skip any model, reports GSMArena. The <keyword id="11560528" type="UNKNOWN" weightage="20" keywordseo="motorola-edge-20-lite">Motorola Edge 20 Lite</keyword> is powered by the Snapdragon 720G SoC, sports a 6.7-inch FullHD+ 90 OLED screen and packs a 5,000 mAh battery. The vanilla Edge 20, on the other hand, has a Snapdragon 778G chip at the helm and comes with a 6.7-inch FullHD+ 144Hz OLED panel and a 4,000 mAh cell. The Edge 20 Pro, which is the top-end model in the lineup, comes with the Snapdragon 870 SoC, 6.7-inch FullHD+ 144Hz OLED display and a 4,500 mAh battery. All three smartphones support 30W charging and feature 108MP primary and 32MP selfie cameras, the report said. In April, the company launched two affordable G Series smartphones -- <keyword id="10963006" type="UNKNOWN" weightage="20" keywordseo="Moto-G60">Moto G60</keyword> and Moto G40 -- in India. The new Moto G60 is priced at Rs 17,999. While Moto G40 fusion is priced at Rs 13,999 for the 4GB+64GB variant and Rs 15,999 for the 6GB+128GB variant. Both Moto G60 and Moto G40 fusion are thoughtfully designed and exquisitely crafted. Tinted housing surrounding the rear cameras adds a touch of sophistication, the company said earlier. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-share-allotment-and-grey-market-premium-gmp-and-likely-listing-price/articleshow/85147938.cms">Check if Rolex Rings shares have been allotted to your account</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cartrade-raises-rs-900-crore-from-anchor-investors-ahead-of-its-ipo-issue-opens-on-monday/articleshow/85123261.cms">CarTrade raises Rs 900 crore from anchor investors ahead of its IPO, issue opens on Monday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/10-startups-raised-825-million-only-in-week-in-india/slidelist/85102144.cms">From BharatPe to MindTickle — Ten Indian startups raised over $825 million this week</a>

Lenovo drops a hint on Instagram and Twitter that Motorola's new Edge 20 series may enter India soon

<ul class="summary-list"><li>A woman was charged over $300,000 for spinal <keyword id="11949089" type="UNKNOWN" weightage="60" keywordseo="surgery" source="Orion">surgery</keyword> after being quoted a fraction of the cost.</li><li>She'd been in a 2014 car wreck that threatened to paralyze her.</li></ul>A woman won a years-long lawsuit against a <keyword id="11918419" type="UNKNOWN" weightage="60" keywordseo="colorado" source="Orion">Colorado</keyword> hospital that misquoted her surgery by more than $300,000.Lisa Melody French, a 60-year-old clerk at a trucking company, was left in need of spinal-fusion surgery after being injured in a 2014 car accident. French's doctors told her that her spinal injury was "so bad" that if she were to fall in another instance, she'd be paralyzed, French told Insider."It wasn't really a choice. I had to have the surgery," she said.St. Anthony North Hospital, run by Centura Health, initially quoted her $57,601.77, a bill her employer's insurance would primarily pay. She was told that her out-of-pocket expenses would be $1,336.90.The hospital later said it "misread" her insurance card, <a href="https://www.courts.state.co.us/userfiles/file/Court_Probation/Supreme_Court/Opinions/2020/20SC565.pdf" target="_blank" title="" rel="noopener noreferrer">court documents</a> said. Centura Health then <a href="https://www.denverpost.com/2022/03/07/centura-hospital-bill-colorado-supreme-court-chargemaster/">billed her $303,709</a>. Her insurance and ELAP Services — a health-insurance firm — paid about $74,000 for the surgery. But French still owed $229,000 out of pocket when Centura decided to sue her.French eventually filed for bankruptcy."It's not unlike that of everyday Americans who go to hospitals with a medical need and sign paperwork placed in front of them to create contract about the medical treatment about to be rendered," Ted Lavender, French's attorney, told <a href="https://www.washingtonpost.com/nation/2022/05/19/colorado-hospital-surgery-cost-french/">The Washington Post</a>. "It was very telling in Ms. French's case."Lavender told the outlet that $197,000 of the total $303,709 bill was allotted to 13 pieces of spinal equipment that originally cost about $31,000."I was never really knowledgeable about insurance," French told Insider, adding that this operation was her first surgery.Centura Health argued that since French signed two contracts agreeing to pay "all charges of the hospital," she was required to pay "predetermined rates set by Centura's chargemaster." The term "chargemaster" refers to a hospital's list of services and costs. French referred to the chargemaster as a "mysterious thing that we're not really allowed to see.""I didn't think of that as a contract. And I certainly didn't know that it was a blank check," she added.In a unanimous opinion, the <a href="https://www.courts.state.co.us/userfiles/file/Court_Probation/Supreme_Court/Opinions/2020/20SC565.pdf">court ruled</a> that French would pay Centura Health $766.74 in damages, <a href="https://www.denverpost.com/2022/05/16/hospital-chargemasters-colorado-supreme-court/">The Denver Post</a> first reported."Because French had no knowledge of and did not clearly and knowingly assent to the terms of Centura's chargemaster, we conclude, under long-settled principles of contract law, that the chargemaster was not incorporated by reference into the HSAs that French signed," Justice Richard L. Gabriel wrote in the opinion.Gabriel added that chargemasters "have become increasingly arbitrary" and instead represent "inflated rates set to produce a targeted amount of profit for the hospitals."French told Insider that she felt "really good" about winning the lawsuit."I feel like, not to be blunt, that the hospital got it back. They've been keeping things hidden and prices hidden for such a long time," she said. "They fought really hard, and they came after me pretty good."French's attorneys and Centura Health did not immediately respond to Insider's request for comment.

Woman charged over $300,000 for surgery after hospital 'misread' her insurance wins court battle over bill

<ul><li>At 7:45 am, the SGX Nifty was up 1.04% at 8.72 points pointing towards a higher start for the Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid positive cues from the global peers, Indian stock-market indices are likely to open in green on Friday. At 7:45 am, the SGX Nifty was trading 1.04% higher at 8.72 points, pointing towards a higher start for the Nifty50. The Dow Jones Industrial Average rose 0.57% to close at 28,492.27 points, as investors parsed through the US Federal Reserve’s new policy strategy on inflation and a slew of key economic data. These are the stocks to watch out for during the trading session on Friday: Sun Pharma Sun Pharmaceutical Chairman Israel Makov said the company is conducting clinical trials to test the effectiveness of many existing medicines in treating symptoms of COVID-19. The shares of Sun Pharma ended over 2% higher on Thursday. HDFC Bank, IndusInd Bank and Kotak Mahindra Bank Global index provider FTSE Russell removed three lenders from its indices— HDFC Bank, IndusInd Bank and Kotak Mahindra Bank. The firm said the banks failed to meet minimum foreign headroom requirements. The shares of HDFC Bank and Kotak Mahindra Bank ended nearly a percent lower on Thursday, whereas IndusInd Bank was up 7%. HCL Technologies HCL Technologies has set up its first European Cybersecurity Fusion Center in Sweden. HCL Technologies’ Cybersecurity Fusion Center (CSFC) is a state-of-the-art security operation and response facility, integrating multi-domain security teams, processes and cutting-edge analytics - enabling organisations to detect threats faster and resolve incidents efficiently, the company said in a statement. The shares of HCL Tech ended nearly 0.13% lower on Thursday. NMDC The state-owned NMDC reported over 54% fall in its net profit to ₹531.35 crore in the first quarter ended June 30, mainly on account of lower income due to COVID-19. The shares of NMDC ended nearly 1% higher on Thursday. Hindustan Aeronautics Limited (HAL) The offer for sale (OFS) of Hindustan Aeronautics Ltd (HAL) was oversubscribed 1.6 times by non-retail investors. The government has decided to exercise the “green shoe” option. The “green shoe” refers to the option of over-allotment of shares. The shares of HAL ended nearly 14% lower on Thursday. Defence stocks in focus Other defence stocks like Bharat Forge, BHEL and Bharat Electronics will also be in focus today. Prime Minister Narendra Modi stressed on the need for Atma Nirbhar Bharat in the defence sector. Some of the highlights from commentary include - opening up the foreign direct investment till 74% through automatic route, and expanding the list for defence imports. IDFC Bank IDFC Bank reported a consolidated net loss of ₹26.46 crore for the quarter ended June 30. The consolidated total income fell to ₹103.99 crore during the period, as against ₹133.04 crore in the same quarter last year. The shares of IDFC ended nearly 2% lower on Thursday. Allcargo Logistics The board of directors of Allcargo Logistics considered voluntary delisting of shares proposal in a meeting yesterday. The company has appointed Inga Ventures as a merchant banker. The company in a stock-exchange filing said the board would meet again to discuss the delisting proposal in detail, after receipt of the due diligence report from the Merchant Banker. The shares of Allcargo Logistics ended nearly 4% lower on Thursday. GMR Infra GMR Infrastructure has decided to restructure its business. In a 'scheme of arrangement' involving vertical split demerger of the non-airport business — these include energy, urban infrastructure and EPC services - will be split into GPUIL. The airport business will be listed separately. The shares of GMR Infra ended 0.19% higher on Thursday.

Top stocks to watch in trade— HDFC Bank, Sun Pharma, HCL Tech, HAL, Bharat Forge, BHEL, Kotak Mahindra, IndusInd Bank, GMR Infra and more

<div class="KonaFilter image-container display-table"><div><div class="image on-image">OracleOracle executive chairman and CTO Larry Ellison</div></div></div><ul class="summary-list"><li>Despite a rough quarter characterized by layoffs, <a href="https://www.businessinsider.com/category/oracle">Oracle</a> reported a solid Q4, beating Wall Streets expectations on both revenues and profits.</li><li><a href="https://www.businessinsider.com/category/larry-ellison">Chairman Larry Ellison</a> says that the company has added over 5,000 new trials of the company's Autonomous Database this quarter.</li><li>A former Oracle salesperson tells Business Insider that there was a huge push for the sales team to get customers to try the database.</li><li>Those aren't paying cloud customers yet, but if interest in the new database remains high, it's a good sign.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>Despite a rough quarter characterized by layoffs, Oracle reported a solid fiscal Q4, beating Wall Streets expectations on both revenues and profits.Oracle reported adjusted earnings of $1.16 per share, beating estimates by 9 cents. It reported revenue of $11.1 billion, beating estimates by $186 million, and up 1% over the year-ago quarter.For the year, Oracle reported total revenue of $39.5 billion flat over the year ago revenue and GAAP earnings per share of $2.97, up 251% over FY 2018 EPS of 85 cents.The highlight of the quarter was Oracle's software cloud sales. Oracle's cloud version of its <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">enterprise</keyword> resource management apps, known as Fusion ERP, and its HR apps, known as Human Capital Management (HCM) grew, collectively 32% in FY19, Mark Hurd, one of Oracle's co-CEOs said. And its acquired cloud NetSuite, which offers similar apps but is used by small and mid-sized businesses, grew 32% this year, Hurd said.Read: <a href="https://www.businessinsider.com/oracle-revoked-some-job-offers-as-restructuring-continues-2019-6">Oracle revoked job offers for some people in the UK, blaming a hiring freeze. Yet it says it's both hiring and still restructuring.</a>Oracle's other co-CEO, Safra Catz said a boost in operating income drove EPS higher than she had predicted (although Oracle also frequently beats its EPS predictions). She said the company is growing its high-margin cloud applications businesses quickly and "downsizing our low-margin legacy hardware business. The net result of this shift away from commodity hardware to cloud applications was a Q4 non-GAAP operating margin of 47%, the highest we've seen in five years."Oracle's ever shrinking hardware business was down 11% this quarter to $994 million.Another bright spot: Chairman and CTO Larry Ellison says that the company has added over 5,000 new trials of the company's Autonomous Database this quarter. That's Oracle's fancy new cloud database that the company hopes will bring its customers into its own cloud and not go to a competitor like Amazon Web Services.The trials are not paying customers, a former Oracle sales person tell Business Insider. They are databases from companies which have agreed to try the new database, often for a month. This person said that Oracle was really pushing its sales people all year to get customers to agree to a database trial. So while trials are not a revenue-generating market for the company yet, they could be a promising sign.Oracle also hasn't publicly discussed its restructuring which began in March, except to acknowledge that it was laying people off. The latest reports are that Oracle <a href="https://en.globes.co.il/en/article-oracle-to-lay-off-over-half-ravello-employees-in-israel-1001290055">cut jobs this week in Israel.</a>The one spot that acknowledges these layoffs are the costs associated with restructuring. Those were up 108% over the year ago quarter to $168 million.Oracle had previously said it allotted $432 million to its 2019 restructuring plan. In this preliminary quarterly report, the company says it has so far spent $443 million on restructuring.The silver lining for Oracle's employees is that its 2019 restructuring costs are less than the $588 million it spent on restructuring in 2018, this report says.All told, investors are encouraged by Oracle's progress. The stock is up about 3% in after hours trading. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/allison-mack-nxivm-alleged-sex-slave-ring-keith-raniere-seagrams-heiress-2019-4">Nxivm leader Keith Raniere has been convicted. Here's what happened inside his sex-slave ring that recruited actresses and two billionaire heiresses.</a></h3> <div> </div> </div>

Oracle Chairman Larry Ellison says the company added 5,000 new trials for its latest cloud database. Here's what that means

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The last time a state seceded from the US, it was the 1860s and a civil war broke out.Still, history hasn't stopped a small group of Californians from <a href="http://www.businessinsider.com/calexit-explainer-california-plans-to-secede-2016-11">pursuing a breakaway from the union</a> in the wake of a Donald Trump presidency. They're calling the movement "Calexit."The two campaigns - one established long before Election Day (the Yes California Independence Campaign) and one nascent group <a href="http://www.businessinsider.com/silicon-valley-on-calexit-2016-11">backed by well-known angel investor Shervin Pishevar</a> - have attracted an overnight social media following in response to the president-elect. Both parties aim to make California an independent nation.Many opponents have taken to Twitter to express that the Calexit backers are forgetting one other thing that Texas already tried and failed miserably.<div></div><div></div><div></div>Texas has attempted a "Texit" time and time again. Residents of the Lone Star State <a href="http://www.chron.com/news/politics/texas/article/texas-secession-independence-nationalist-movement-7248746.php">passed resolutions calling for a vote on secession</a> recent as March.One big obstacle: The US Constitution lays out procedures for how a new state may enter the union, but there are no protocols for a nation to exit."There's no legal path to secession," Cynthia Nicoletti, an <a href="https://content.law.virginia.edu/faculty/profile/cln4x/1195088">associate professor of law at University of Virginia School of Law</a> and author of the upcoming book, "The Treason Trial of Jefferson Davis: Secession in the Aftermath of the Civil War," tells Business Insider.Shortly after Barack Obama was re-elected to the presidency in 2012, disgruntled Texans <a href="https://petitions.whitehouse.gov/petition/peacefully-grant-state-texas-withdraw-united-states-america-and-create-its-own-new">filed a petition to the White House</a> asking that the administration "peacefully grant" the state the right to withdraw from the union. It racked up over 125,000 signatures. The director of the White House Office of Public Engagement, Jon Carson, dashed their dreams in his response.Carson wrote that our founding fathers established in the US Constitution "the right to change our national government ... But they did not provide a right to walk away from it."<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>That leaves two paths, according to Nicoletti. "You're going to need a constitutional amendment or you're going to need a revolution."In 1861, Texas rallied with 10 other southern states to leave the union and form the Confederate States of America. It didn't turn out as they hoped, needless to say. About 700,000 people died in the Civil War, and by 1870, all 11 states rejoined the US. According to a significant case argued before the US Supreme Court in 1869, they never had the right to exit in the first place.Nicoletti, a legal historian who said she was surprised to find her subject of expertise relevant once again, explains that while the issue of a state's legal right to secede may have played out on the battlefield when the North defeated the South, Texas v. White made it crystal clear that individual states could not just leave - even if agreed upon by a majority of Texans.Still, "saying that something is illegal is not the same as saying it's impossible," Nicoletti said.A state can pass a constitutional amendment that legalizes secession with the blessings of the other 49 states. However, a recent Fusion article <a href="http://fusion.net/story/369043/how-california-could-secede/">pointed out</a> that amending the Constitution "is a feat difficult enough that it has happened only 17 times in 227 years."<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>In the case of Calexit, the Yes California Independence Campaign wants to put a measure on the ballot in 2018, when residents of the state will choose their next governor, that would allow Californias to voice their support for a Brexit-style departure.If it passes, which is highly implausible, the group may do a few things.A member of the California federal delegation could go to Washington, DC, and propose an amendment to the US Constitution that would permit the state to bounce the union.Alternatively, California could call for a convention of the states and the amendment granting California its independence could be voted upon by the delegates to the convention.Either option ends with a call for congressional approval. Nicoletti said the chances Calexit succeeds are slim to none, and the potential consequences are grim."The last time [a state seceded], the consequence was the Union Army," Nicolleti said. "Do I think that there will be troops in the center of San Francisco? I don't know, I mean, I don't know that I take this idea of secession all that seriously." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/calexit-protest-secession-movement-california-president-elect-donald-trump-2016-11">People in California are calling for a 'Calexit' after Trump's victory</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JnaGZoNzE6JetGqMP3s4peRKshaqz1qs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

It would be incredibly difficult for California to pull off a 'Calexit' and secede from the US

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>The last time a state seceded from the US, it was the 1860s and a civil war broke out.Still, history hasn't stopped a small group of Californians from <a href="http://www.businessinsider.com/calexit-explainer-california-plans-to-secede-2016-11">pursuing a breakaway from the union</a> in the wake of President Donald Trump's rise to office.Since the election, the "Calexit" movement has grown from a hashtag trending on social media to a legitimate campaign for California's independence. Secession backers <a href="http://www.sacbee.com/news/politics-government/capitol-alert/article129047749.html">are now collecting voter signatures</a> to get a measure on the 2019 state ballot which, if passed, would help clear a path for legal secession.One in three Californians <a href="http://www.businessinsider.com/after-trumps-election-one-in-3-californians-want-their-state-to-exit-the-us-2017-1">surveyed by</a> <a href="http://www.businessinsider.com/after-trumps-election-one-in-3-californians-want-their-state-to-exit-the-us-2017-1">Reuters/Ipsos</a> in a recent poll want the state to leave the US. Still, the event of a Brexit-like secession remains unlikely.Many opponents have taken to Twitter to remind&#xa0;Calexit backers&#xa0;that Texas already tried to secede in the past - and failed miserably.Texas has attempted a "Texit" time and time again. Residents of the Lone Star State <a href="http://www.chron.com/news/politics/texas/article/texas-secession-independence-nationalist-movement-7248746.php">passed resolutions calling for a vote on secession</a> recent as March 2016.One big obstacle: The US Constitution lays out procedures for how a new state may enter the union, but there are no protocols for a nation to exit."There's no legal path to secession," Cynthia Nicoletti, an <a href="https://content.law.virginia.edu/faculty/profile/cln4x/1195088">associate professor of law at University of Virginia School of Law</a> and author of the upcoming book, "The Treason Trial of Jefferson Davis: Secession in the Aftermath of the Civil War," told&#xa0;Business Insider last year.Shortly after Barack Obama was re-elected to the presidency in 2012, disgruntled Texans <a href="https://petitions.whitehouse.gov/petition/peacefully-grant-state-texas-withdraw-united-states-america-and-create-its-own-new">filed a petition to the White House</a> asking that the administration "peacefully grant" the state the right to withdraw from the union. It racked up over 125,000 signatures. The director of the White House Office of Public Engagement, Jon Carson, dashed their dreams in his response.Carson wrote that our founding fathers established in the US Constitution "the right to change our national government ... But they did not provide a right to walk away from it."<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>That leaves two paths, according to Nicoletti. "You're going to need a constitutional amendment or you're going to need a revolution," she said.In 1861, Texas rallied with 10 other southern states to leave the union and form the Confederate States of America. It didn't turn out as they hoped, needless to say. About 700,000 people died in the Civil War, and by 1870, all 11 states rejoined the US.According to a significant case argued before the US Supreme Court in 1869, they never had the right to exit in the first place.Nicoletti, a legal historian who said she was surprised to find her subject of expertise relevant once again, explains that while the issue of a state's legal right to secede may have played out on the battlefield when the North defeated the South, Texas v. White made it crystal clear that individual states could not just leave - even if agreed upon by a majority of Texans.Still, "saying that something is illegal is not the same as saying it's impossible," Nicoletti said.A state can pass a constitutional amendment that legalizes secession with a vote from&#xa0;three-fourths&#xa0;of the&#xa0;other 49 states. However, Fusion&#xa0;<a href="http://fusion.net/story/369043/how-california-could-secede/">pointed out</a> that amending the Constitution "is a feat difficult enough that it has happened only 17 times in 227 years."<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>The Yes California Independence Campaign, the political action committee leading the Calexit charge, is currently gathering signatures to put a measure on the ballot in 2019 that would allow Californians to voice their support for a departure from the US. If at least half of registered voters&#xa0;show up at the polls for that vote, and at least 55%&#xa0;vote&#xa0;in favor of secession, the results would serve as the state's declaration of independence, the <a href="http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-coming-to-a-clipboard-near-you-1485483444-htmlstory.html">LA Times reports</a>.If it passes, which is highly implausible, the group may do a few things.A member of the California federal delegation could go to Washington, DC, and propose an amendment to the US Constitution that would permit the state to bounce the union.Alternatively, California could call for a convention of the states and the amendment granting California its independence could be voted upon by the delegates to the convention.Either option ends with a call for congressional approval. Nicoletti said the chances Calexit succeeds are slim to none, and the potential consequences are grim."The last time [a state seceded], the consequence was the Union Army," Nicolleti said. "Do I think that there will be troops in the center of San Francisco? I don't know, I mean, I don't know that I take this idea of secession all that seriously."<div></div><div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/calexit-protest-secession-movement-california-president-elect-donald-trump-2016-11">People in California are calling for a 'Calexit' after Trump's victory</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JnaGZoNzE6JetGqMP3s4peRKshaqz1qs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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