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<ul><li>The offer for sale has opened for non-retail investors today. </li><li>The government is planning to sell up to 20% stake in the company. </li><li>The floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. </li></ul>The shares of <keyword id="3219311" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corp">Indian Railway Catering and Tourism Corp</keyword> (IRCTC) plunged over 8% in morning trade as the two-day offer for sale (OFS) gets underway. The government is planning to sell up to 20% stake in the company. The OFS has opened for non-retail investors today. Floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. <div type="image" title="ITC Share price (1)" msid="79656890" hostid="261"></div> The promoter proposes to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15% stake, with an option to additionally sell 80,00,000 shares, representing 5% of the total issued and paid up equity share capital, the company said in a regulatory filing. "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. Shares of IRCTC on Wednesday closed at Rs 1,618.05 apiece on the BSE, down 1.55 per cent from its previous close. In all, the promoter Government of India will sell 3.2 crore shares, which is expected to garner Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis. <keyword id="9901399" type="UNKNOWN" weightage="20" keywordseo="IRCTC-ofs">IRCTC OFS</keyword> will help the government inch forward in meeting the Rs 2.10 lakh crore disinvestment target. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sale in financial institutions. The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, the government has to lower its stake in the company to 75 per cent. IRCTC, the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India, was listed on the stock exchanges in October 2019. The company had raised Rs 645 crore through the IPO. The Union Cabinet had in April 2017 approved listing of five railway companies. While four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and IRTC -- have already been listed, IRFC is likely to be put on the block this fiscal. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

IRCTC tumbles 8% as government's 20% stake sale through OFS begins

New Delhi, The Railways introduced 153 services in 2019-20 as compared to 266 services in 2018-19, which included modern semi-high speed trains like Vande Bharat, <keyword id="3691811" type="COMPANY" weightage="20" keywordseo="tejas-express">Tejas Express</keyword> and UDAY (Utkrisht Double-Decker Air-conditioned Yatri) Express trains, Parliament was informed on Friday. In a written reply to a question in Rajya Sabha, <keyword id="6356740" type="COMPANY" weightage="20" keywordseo="RAILWAY">Railway</keyword> Minister <keyword id="6355222" type="PERSON" weightage="20" keywordseo="piyush-goyal">Piyush Goyal</keyword> said: "To facilitate passengers, Indian Railways, during the period 2018-19 and 2019-20, railways introduced new 153 and 266 services respectively." He said that introducing new services is a continual endeavour of the national transporter to upgrade train services and to provide improved facilities to the passengers. "Indian Railways have introduced premium services like <keyword id="7263559" type="COMPANY" weightage="20" keywordseo="Vande-Bharat-Express">Vande Bharat Express</keyword>, Humsafar, Tejas, Antyodaya, UDAY, to provide better travelling experience to the passengers," he said, adding that state-of-art Vande Bharat Express services have been introduced on <keyword id="3931882" type="LOCATION" weightage="20" keywordseo="new-delhi-varanasi">New Delhi-Varanasi</keyword> and New Delhi-Shri Mata Vaishno Devi Katra sectors. "These trains have ultra modern features like quick acceleration, on board infotainment and Global Positioning System (GPS) based passenger information system, automatic sliding doors, retractable footsteps and zero discharge vacuum bio toilets etc," he said. Goyal said that a total of four pairs of Tejas Express services have been introduced. "Two of these -- Chhatrapati Shivaji Maharaj Terminus-Karmali Tejas Express and Chennai Egmore-Madurai Jn Tejas Express are being run by Indian Railways, while the other two Tejas trains namely, Lucknow-New Delhi Tejas Express and Mumbai Central-Ahmedabad Tejas Express are operated by the Indian Railway Catering and Tourism Corporation (<keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword>)," he said. Similarly, two pairs of <keyword id="3691812" type="COMPANY" weightage="20" keywordseo="uday-express">UDAY Express</keyword> have been operationalised -- Bangalore City - Coimbatore UDAY Express and Visakhapatnam-Vijayawada UDAY Express. He said that other premium services like Humsafar, Tejas, Antyodaya, UDAY, Mahamana and coaches like Deen Dayalu and Anubhuti, which have upgraded interiors or exteriors and improved passenger amenities, have been introduced in various train services. He further said that the railways is manufacturing only Linke Hofmann Busch (LHB) coaches, which are technologically superior and have better riding, aesthetics and safety features than conventional Integral Coach Factory (ICF) type coaches. "Production Units of railways have stopped the manufacturing of ICF type coaches and are manufacturing only LHB coaches from the year 2018-19 onwards," he said. Goyal also said that vistadome coaches provide panoramic view, through wider body side windows as well as through transparent sections in the roof, thus enabling the passengers to enjoy the scenic beauty of the places through which they travel. "Recently, vistadome coaches on LHB platform have been manufactured with several modern features or amenities," he said. He said that under Project Utkrisht, which was launched in April 2018 to improve the condition of ICF type coaches running in Mail or Express trains, railways has upgraded 447 rakes of Mail or Express trains till December 2020. Similarly, under Project Swarn, 65 rakes of Rajdhani and Shatabdi trains have been upgraded across multiple dimensions, which include coach interiors, toilets, onboard cleanliness, staff behaviour, linen, etc. The Minister said that 63 smart coaches with ultra modern features like smart public address and passenger information system, Smart HVAC (Heating, Ventilation and Air Conditioning system), Smart security and surveillance system etc. have been manufactured and introduced. He said that conversion of end-on-generation (EOG) trains into Head-On-Generation (HOG) trains is om to reduce noise and air pollution at stations and in trains. It is expected to significantly reduce the consumption of fossil fuels, he added. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a>

Railways launched 153 new train services in 2019-20, says Railway Minister

<ul><li>At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to see a slow start on Friday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. The US stocks closed mixed on Thursday amid disappointing economic data and slowed stimulus progress. The Dow Jones Industrial Average closed 0.23% lower, and the Nasdaq Composite was up 66 points. These are the stocks to watch out for during the trading session today: TVS Motor The members of the $8.5 billion TVS family decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies. The share price of TVS Motor closed 0.42% lower on Thursday. IRCTC The offer-for-sale for the Indian Railway Catering and Tourism Corp (IRCTC) was subscribed nearly two times on day by the non-retail investors. The retail investors will get a chance to bid for IRCTC offer-for-sale (OFS) today. The government is planning to sell up to 20% stake in IRCTC through OFS which opened for subscription on Thursday. The share price of IRCTC closed 12% lower on Thursday. HDFC Bank The private lender HDFC Bank informed exchanges that the Reserve Bank of India (RBI) had imposed a monetary penalty of ₹10 lakh on the bank for bouncing of subsidiary general ledger (SGL). This led to a shortage of balance in certain securities in the Bank’s CSGL account on November 19, it said. The share price of HDFC Bank closed 2% lower on Thursday. Dalmia Bharat, UltraTech Cement, ACC, Ambuja Cements and Shree Cement According to <a href="https://www.livemint.com/news/india/cci-searches-offices-of-major-cement-cos-11607621552574.html">reports</a>, the Competition Commission of India (CCI) has conducted searches on the premises UltraTech Cement, ACC, Ambuja Cements, Dalmia Cement (Bharat) and Shree Cement, among others to find evidence of price collusion. United Spirits United Spirits, a part of global liquor giant Diageo appointed Hina Nagarajan as the company’s new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30. The share price of United Spirits closed 2% higher on Thursday. TCS Tata Consultancy Services (TCS) said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state. The share price of TCS closed 1% lower on Thursday. Mahindra &amp; Mahindra ICRA has reaffirmed Mahindra &amp; Mahindra rating of non-convertible debenture programme of ₹1,500 crore to stable. It has also assigned a stable rating to long-term loans worth ₹1,800 crore. The share price of Mahindra &amp; Mahindra closed 3% lower on Thursday. Canara Bank Canara Bank said it had approved the issue price at ₹103.50 per share for its qualified institutional placement (QIP) to raise ₹2,000 crore. Earlier this week, the bank had set the floor price for the issue at ₹103.50 apiece. The share price of Canara Bank closed 5% lower on Thursday. Jash Engineering The pump and pumping equipment manufacturing company, Jash Engineering received orders worth ₹20.65 crore in November. The share price of Jash Engineering closed 2% lower on Thursday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

<ul><li>At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a subdued note on Thursday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-retreat-from-record-highs-as-stimulus-deadlock-continues/articleshow/79653087.cms">US stocks reversed to end lower</a> as a deadlock in stimulus negotiations continued. The Dow Jones Industrial Average closed 0.35% lower, and the S&amp;P 500 was down 29 points. These are the stocks to watch out for during the trading session today: IRCTC The government is planning to sell up to 20% stake in Indian Railway Catering and Tourism Corp (IRCTC) through an Offer for Sale (OFS) which opens for subscription on Thursday. The floor price for the offer has been set at ₹1,367. The share price of IRCTC closed 2% lower on Wednesday. Mahindra &amp; Mahindra The company informed exchanges that its operations in the automotive sector would be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs). The company said this would result in a reduction in production and sales volume in the last quarter of FY 2020-2021. The share price of Mahindra &amp; Mahindra closed flat on Wednesday. TCS The ₹16,000-crore share buy-back programme of India's largest IT services firm Tata Consultancy Services (TCS) will commence on December 18 and close on January 1. Last month, TCS shareholders had approved a proposal to buy-back up to 5.33 crore equity shares of the company at ₹3,000 per scrip for an aggregate amount not exceeding ₹16,000 crore. The share price of TCS closed 0.53% lower on Wednesday. Maruti Suzuki India India's largest carmaker Maruti Suzuki said it would increase prices of its vehicles from January to offset the adverse impact of rising input costs. The share price of Maruti Suzuki India closed 0.70% lower on Wednesday. Pfizer India Canada's health regulator has approved Pfizer's COVID-19 vaccine, days ahead of possible approval in the US. Canada is set to receive up to 249,000 doses this month and 4 million doses by March. The share price of Pfizer India closed 0.29% lower on Wednesday. ICICI Securities The offer for sale for non-retail investors gets a demand of 4.4 times the shares of the offer. Portion for retail investors will be open today for auction. The share price of ICICI Securities closed 4% higher on Wednesday. L&amp;T Tech L&amp;T Technology Services bags a multi-year order worth over $100 million from a global oil &amp; gas company. Under this five-year deal, the company will be the primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in the USA. The share price of L&amp;T Tech closed 2% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, M&M, TCS, Maruti Suzuki, Pfizer India, ICICI Securities, and others

<ul><li>At 7:50 am the SGX Nifty was trading 0.58% lower pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a muted note amidst mixed cues from global peers. At 7:50 am, the SGX Nifty was trading 0.58% lower indicating a cautious start for Nifty50. On Wednesday, the US stocks ended higher, recouping some of their recent massive losses. The Dow Jones Industrial Average ended 1.6% higher. While, the S&amp;P 500 gained 2.01% towards the end of trading. Here’s a list of stocks to watch for in trade on September 10: IRCTC IRCTC has clarified that it has received no information from the government after news reports surfaced that the government of India is looking to sell a 15-20% stake in the company via offer-for-sale. The shares of IRCTC ended 2% lower on September 9. Indiabulls Housing Finance Indiabulls Housing Finance launched its qualified institutional placement (QIP) on Wednesday. The company is looking to raise ₹1,000 crore. The company has set the floor price for the QIP at ₹206.70 per equity share. The shares of Indiabulls Housing Finance ended 1% lower yesterday. Bharat Dynamics The government on Wednesday mobilised ₹776 crore by divesting nearly 13% in Bharat Dynamics. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. The shares of Bharat Dynamics ended 5% lower on September 9. HDFC Bank, ICICI Bank, SBI and other banking stocks HDFC Bank, ICICI Bank, SBI and other banking stocks will also be in focus during the trade today. The Supreme Court of India will hear petitions seeking an extension of the moratorium period on repayment of loans. Future Consumer Future Consumer promoter, Future Capital Investment has invoked pledge on 1 crore shares on September 8. This may also move other Future Group stocks like— Future Retail, Future Lifestyle, and Future Enterprises, among others. The shares of Future Consumer ended flat on September 9. Adani Power and Adani Transmission Adani Power promoter, Adani Tradeline LLP released 1 crore pledged shares. Also, Adani Transmission promoters Gautam Adani/Rajesh Adani and Adani Tradeline LLP released a pledge on 4,49,56,300 equity shares and 94,60,000 shares, respectively. The shares of Adani Power ended 0.13% higher on September 9. Whereas Adani Transmission finished 0.61% lower. HAL, J&amp;K Bank, and Hindustan Copper These companies are slated to report their quarterly earnings today. SEE ALSO:<a href="https://www.businessinsider.in/defense/news/rafale-jets-to-be-formally-inducted-into-iaf-on-thursday/articleshow/78030072.cms" data-type="tilCustomLink"> India to formally induct Rafale aircraft in the 17 Squadron 'Golden Arrows' today</a> <a href="https://www.businessinsider.in/science/space/news/northrop-grumman-names-its-next-space-ship-after-kalpana-chawla-the-first-woman-of-indian-origin-to-go-to-space/articleshow/78018575.cms" data-type="tilCustomLink">Northrop Grumman names its next space ship after Kalpana Chawla — the first woman of Indian-origin to go to space</a>

Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more

One look at the ministry-operated websites of Indian government and you can be sure that they are not up to the mark. This is why these websites are often made fun of, something which is beginning to irk the centre, it seems. 
 The centre has now directed all the ministries that <keyword id="487987" type="UNKNOWN" weightage="100" keywordseo="government-websites">government websites</keyword> should be taken seriously now. It has also directed that these websites should figure among the top five results when relevant keywords are put in search engines. Not only this, if the government is paying the mobile and landline bills of bureaucrats, their numbers should be made available online. 
 These instructions are a part of the 115 guidelines that the ministries have received from the Department of Administrative Reforms and Public Grievances (<keyword id="1562810" type="UNKNOWN" weightage="100" keywordseo="DARPG">DARPG</keyword>), led by PM Modi. 
 The government believes that these guidelines, when followed, would boost the PM’s agenda of '<keyword id="1929810" type="UNKNOWN" weightage="100" keywordseo="Digital-India">Digital India</keyword>' and 'Minimum government, maximum governance'. 
 
It was on 25th May that DARPG secretary C Vishwanath had written to the secretaries of all ministries, seeing the audit results of 957 government websites, 97% of which failed to comply with the 'Guidelines of <keyword id="1107919" type="UNKNOWN" weightage="100" keywordseo="Indian-government-websites">Indian Government Websites</keyword>' (GIGW). 
 
"Recently, the Standard Testing and Quality Certification Directorate has done the audit of 957 government websites and it was found that only 31 of them were GIGW compliant," the DARPG secretary said in his letter. 
 
 
Specifically, Vishwanath reminded the secretaries that as per the guidelines, all central government websites must be bilingual, opening in Hindi by default and having an option of being converted in English, not vice versa. 
 
Moreover, all electronic commerce transactions done on a government website have been asked to be handled safely and a mechanism should be put in place which ensures timely response to the queries received. 
 
Also, the guidelines ask for the discussion forums to be closely watched, adding that the websites should be free of "offensive/discriminatory language." 
 
<a href="http://www.socialsamosa.com/wp-content/uploads/2015/10/resize.jpg">Image source</a>

97% Government websites fail to impress, asked to mend ways

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> </h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon. <h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <h2>YES Bank </h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000.

What has changed for your credit cards, starting today?

Forty Indian corporates raised ₹59,412 crore through main board IPOs in calendar year 2022, half of the ₹1,18,723 crore (all-time high) mobilised by 63 IPOs in 2021, according to <keyword id="198574" type="General" weightage="80" keywordseo="prime-database" source="Orion">PRIME Database</keyword>, India's premier database on the primary capital market. According to <keyword id="1862725" type="General" weightage="80" keywordseo="pranav-haldea" source="Orion">Pranav Haldea</keyword>, Managing Director, PRIME Database Group, ₹20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone. Overall public equity fundraising also dropped by 55% to ₹90,995 crore from ₹2,02,048 crore in 2021. The largest IPO in 2022, which was also the largest Indian IPO ever, was from Life Insurance Corp.of India. This was followed by Delhivery (₹5,235 crore) and <keyword id="236770" type="General" weightage="80" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> (₹3,600 crore). The average deal size was a high ₹1,485 crore. According to <keyword id="3517398" type="General" weightage="80" keywordseo="haldea" source="Orion">Haldea</keyword>, as many as 17 out of the 40 IPOs, or nearly half, came in the last two months of the year alone, which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity. Only 1 out of the 40 IPOs (Delhivery) was from a new age technology company (NATC) (in comparison to 7 NATC IPOs raising in ₹42,826 crore in 2021) pointing towards the slowdown in IPOs from this sector. The overall response from the public, according to Prime Database, was moderate. Of the 38 IPOs for which data is available presently, 12 IPOs received a mega response of more than 10 times (of which 2 IPOs more than 50 times) while 7 IPOs were oversubscribed by more than 3 times. The balance 19 IPOs were oversubscribed between 1 to 3 times. The new HNI segment (Rs2- 10 lakh) saw an encouraging response with 11 IPOs receiving a response of more than 10 times from this segment. In comparison to 2022, the response of retail investors also moderated. The average number of applications from retail dropped to just 5.92 lakh, in comparison to 14.25 lakh in 2021 and 12.77 lakh in 2020. The highest number of applications from retail were received by LIC (32.76 <keyword id="6359802" type="General" weightage="80" keywordseo="lakhs" source="Orion">lakhs</keyword>) followed by <keyword id="6813155" type="General" weightage="80" keywordseo="harsha-engineers" source="Orion">Harsha Engineers</keyword> (23.86 lakhs) and Adani Wilmar (18.96 lakhs). The amount of shares applied for by retail by value (Rs 46,437 crore) was 22 per cent lower than the total IPO mobilisation (in comparison to being 42 per cent higher in 2021) showing the lower level of enthusiasm from retail during the period. The total allocation to retail, however, was ₹16,837 crore which was 28 per cent of the total IPO mobilisation (up from 20 per cent in 2021). According to Haldea, IPO response was further muted by moderate listing performance. Average listing gain (based on closing price on listing date) fell to 10 per cent, in comparison to 32.19 per cent in 2021 and 43.82 per cent in 2020. Of the 38 IPOs which have got listed thus far, 17 gave a return of over 10 per cent. DCX Systems gave a stupendous return of 49 per cent followed Harsha Engineers and Hariom Pipe Industries (47 per cent each). Twenty-three of the 38 IPOs are trading above the issue price (closing price of December 30, 2022). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zomato-irctc-zee-entertainment-among-stocks-in-focus-on-tuesday/articleshow/96697684.cms">Sensex, Nifty50 likely to open in red amid weak global cues; Zomato, IRCTC, Zee Entertainment among stocks in focus</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/psu-general-insurance-unions-call-off-their-jan-4-strike/articleshow/96698322.cms">PSU general insurance unions call off their Jan 4 strike</a>

IPO fundraising in India halves in 2022

<ul><li>The 30-share BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> declined 305 points to 62,367 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> dipped 87.95 points to 18,572.</li><li>The overall sentiment was negative across markets as the US Federal Reserve signaled that interest rates will rise higher than anticipated next year.</li><li>Out of the Sensex pack, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Titan and UltraTech Cement were the major laggards.</li><li>On Wednesday, the US Federal Reserve raised interest rates by 50 basis points to its highest level in 15 years.</li></ul>Indian benchmark indices were trading lower on Thursday following weak cues from global markets due to the US Federal Reserve's hawkish stance. The 30-share BSE Sensex declined 348 points to 62,329 while Nifty50 dipped 96.10 points to 18,564, as of 11:49 am, December 15. Out of the Sensex pack, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Titan and UltraTech Cement were the major laggards. IndusInd Bank, State Bank of India, Mahindra &amp; Mahindra and NTPC were among the winners. Amid other stocks, IRCTC plunged more than 5% after the government announced it will sell a 5% stake in the company through offer for sale (OFS) on Thursday and Friday. Up to 4 crore shares will be on offer with a fixed price of ₹680 per share. The overall sentiment was negative across markets as the US Fed signaled that interest rates will rise higher than anticipated next year. On Wednesday, the US Fed raised interest rates by 50 basis points to 4.25-4.5%, its highest level in 15 years. The terminal rate is now projected at 5.1%, up 50 basis points from the projections in September this year. <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> were also trading lower with Hang Seng down 1.30%, Nikkei 225 0.41% lower, Shanghai SE Composite Index was down 0.34% while Taiwan SE Weighted Index 0.04% lower. The <keyword id="123399" type="General" weightage="20" keywordseo="us-markets" source="Orion">US markets</keyword> ended lower on Wednesday with S&amp;P 500 down 0.61%. The tech heavy Nasdaq closed 0.76% lower while Dow Jones ended 0.42% down. give % like we usually do “The world was grappling with high inflation, not seen in the last 40 years. The Fed was late to act, but nevertheless, they did it with four steepest rate hikes of 75 bps each. However, with inflation figures coming in at 7.1%, the Fed Chief has delivered what he promised, a slowdown in rate hikes,” said Apurva Sheth, head of markets perspective &amp; research at Samco Securities. “The markets have not reacted positively because the Fed has increased its projection of the terminal interest rate from 4.6% to 5.1%,” Sheth added. International oil benchmark Brent crude declined 0.65% to $82.16 per barrel. Foreign institutional investors (FIIs) were net buyers on Wednesday as they bought shares worth Rs 372.16 crore, according to exchange data. “Even though the Fed downshifted the rate hike to 50 basis points as expected, the tone of the commentary was unexpectedly hawkish. Globally, equity markets would be watching out for the ECB (European Central Bank) and BoE (Bank of England) decisions today, which are also likely to be 50 basis point hikes,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services. (With inputs from PTI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-decline-after-rallying-26-in-five-days/articleshow/96226772.cms">Yes Bank shares tumble after rallying 26% in the last five days – analysts recommend caution</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/foreign-portfolio-investors-flows-in-2022-in-india/articleshow/96223765.cms">FPI flows in 2022 – a tale in two parts</a>

IT, metals drag Sensex, Nifty50 lower amid US Fed’s hawkish stance

Former Governor of Reserve Bank of India <keyword id="6358908" type="General" weightage="20" keywordseo="raghuram-rajan" source="Orion">Raghuram Rajan</keyword> has said he believes the country will be lucky if it achieves 5 per cent growth next year. The former governor also said next year is going to be more difficult than this one. "Of course, this one had a lot of difficulties with the war and all that. Growth is going to slow in the world. People are raising interest rates that bring down growth," he said. While talking with Congress leader <keyword id="5268" type="General" weightage="20" keywordseo="rahul-gandhi" source="Orion">Rahul Gandhi</keyword>, the former governor of the Reserve Bank of India said, "India is also going to be hit. India's interest rates have also gone up but Indian exports have been slowing quite a bit." "India's inflation problem is more about commodities inflation problem, vegetables' inflation problem. That is also going to be negative for the growth," he said on Wednesday in a candid talk with the Gandhi scion. The economist said, "I think we will be lucky if we do 5 per cent next year." The problem with the growth numbers is that you have to understand what you are measuring with respect to, he said. "We had a terrible quarter last year. And, you measure with respect to that you look very good. So ideally what you do is look before the pandemic in 2019 and look at now." He said, "If you look at 2022 vis-a-vis 2019, it's about 2 per cent a year. It's too low for us." While being asked what he attributes this to, by Rahul Gandhi, he said, "Pandemic was part of the problem but we were slowing before the pandemic. We had gone from 9 to 5. And, we haven't really generated reforms which will generate growth." Rahul Gandhi had asked him in the candid talk: "There is one thing happening, 4-5 persons are getting rich and they could go into any businesses and the rest of the people have remained backward. Farmers, the poor have formed a new Bharat. These 4-5 persons' dreams are fulfilled while those of the rest are dashed. What should we do with this inequality? "This is a big problem. This is not about industries," the economist said, adding, "The upper middle class have gained because they could work during the pandemic whereas the poor would have to go to factories and the factories were closed during the pandemic," he said. "This divide has grown during the pandemic," he said further. Economist Raghuram Rajan said, "The poorest could get ration. They get everything. These rich didn't suffer any difficulties. Those in between -- the lower middle class -- had to lose a lot. They lost their jobs. Joblessness went up. Debts went up. We should look at them. Because they have suffered a lot." On the subject of the concentration of wealth among the industrialists, he said we should also look at them. He said, "We couldn't be against capitalism. But we should be fighting for competition. We could be up against monopoly. Monopoly is not good for the country." He said India's issue was that our exports will also go down and growth would also decrease. "Technological support is needed, credit loans, there should be certainty about policies." He said there could be change. "If banks know that sales of small businesses are good and the steady revenue stream, they can lend but we need that information to be collected and made available. That is happening now. They are starting to think about all these in the fintech revolution right now. But in India, it needs to be 10 times," he added. Too many of our small companies don't grow big. They need a path to grow, he said. "Here is the problem, they get used to some of the benefits of staying small. If you don't pay taxes, officers won't come to them. They stay under the radar scan of the government instead of being helped by the government." He said, "You (company) stay under the radar until you get a revenue stream. Once your business grows, it should be like I'm going to look at you, I'm going to help you. I'm not going to tax you or make your life miserable. We need that situation." He added as soon as these businesses get better, the government take away those benefits. "There is no incentive to grow bigger. Why not say, if you grow bigger, you will get these incentives for five years? By the time they are big, they don't care," the economist added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/irctc-share-price-falls-over-5-as-governments-offer-for-sale-kicks-off/articleshow/96247564.cms">IRCTC share price falls over 5% as government's offer for sale kicks off</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/bumble-reveals-upcoming-dating-trends-in-2023/slidelist/96243427.cms#slideid=96244109">Inter-city love, better boundaries &amp; rise of divorced singles: Bumble reveals upcoming dating trends in 2023</a>

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IRCTC tumbles 8% as government's 20% stake sale through OFS begins

BI India Bureau

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IANS

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97% Government websites fail to impress, asked to mend ways

BI India Bureau

What has changed for your credit cards, starting today?

Ira Alok Puranik

IPO fundraising in India halves in 2022

IANS

IT, metals drag Sensex, Nifty50 lower amid US Fed’s hawkish stance

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Will be lucky if we grow 5% next year says former RBI governor Raghuram Rajan

ANI

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