<ul><li><keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> has announced strong net profit in September quarter that grew 7 times on year to ₹12,548 crore.</li><li>An average trader may have expected the shares to jump but it didn’t.</li><li>One of the reasons for the street’s disappointment was the slow pace of debt reduction in the company.</li><li>It was the sharp fall in global steel prices that caused the bigger dent to the steel maker’s stock price.</li><li>Check out the latest news, analysis and updates on Business Insider.</li></ul>Those who were preparing to buy Tata Steel shares on Friday (November 12) morning ⁠— because the quarterly profit had grown a <a href="https://www.moneycontrol.com/news/business/earnings/tata-steel-q2-results-revenue-increases-to-rs-rs-60282-8-crore-pat-surges-to-rs-12548-crore-7706031.html">surprising seven fold </a>⁠compared to the same time last year — were in for a rude shock. The stock slipped over a percent into the red by midday. While the profit growth was a reason to celebrate, the slow reduction in debt turned out to be the party pooper. But that was just an excuse. The tide had turned downwards for steel stocks, as a whole, long before the earnings. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Steel companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns in last 3 months </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Steel Authority of India (SAIL) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp; Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr></tbody></table> The steel price index in China has declined in the last couple of days, triggering a similar collapse in other parts of the world too. “Metal stocks like Tata Steel, JSW Steel, Jindal Steel and SAIL declined 2-4 per cent after the news that China’s steel prices had declined rapidly amid weakening demand and lower material prices, and that prices are likely to slide further in the fourth quarter,” <a href="https://www.thehindubusinessline.com/markets/stock-markets/sensex-nifty-end-flat-after-late-recovery/article37417373.ece">reportedly</a> said Vikas Jain, Senior Research Analyst at Reliance Securities Tata Steel’s debt problem Tata Steel repaid ₹11,424 crore in the first half of the current financial year and the company has targeted additional, aggressive deleveraging in the second half. The steel maker’s debt stands at ₹68,860 crore ($688 billion). “Numbers (earnings growth) were below estimates as EBITDA was expected at ₹19,000 crore and debt repayment was also a bit lower than estimated because of build up in working capital,” said Jatin Damania, research analyst at Kotak Securities. EBITDA ⁠— which stands for earnings before interest, taxes, depreciation, and amortization ⁠— stood at ₹16,618 crore for the July-September 2021 quarter. That’s a number that the company has not seen in 16 years. It can’t be bad but then again, the market wants to see a significant reduction in debt that piled up over the years. <div type="image" title="tata steel pro" height="900" width="1200" msid="87663142" hostid="261"></div> The temptation to take profit home Some analysts believe the fall in stocks is a profit booking phase given the stock has doubled in 2021 so far. “The stock may have seen a lot of profit booking as it is not cheap. It is up 5 times from the one-year low. I believe 2022 will belong to metals,” Sanjiv Bhasin, executive vice president, markets &amp; corporate affairs at India Infoline, told Business Insider. Meanwhile, analysts at CLSA reportedly expect Tata Steel shares to hit ₹1,950 in the next one year, that would mean a 50% rally from Thursday’s close of ₹1,299. <div type="image" title="tata steel" height="900" width="1200" msid="87663164" hostid="261"></div> It’s not all gloomy There is a reason why both India Infoline, CLSA and others expect next year to be better. The pressure on prices that’s visible now may ease because the power shortages in China have led factories to idle and production to fall. This will allow steel makers in other parts of the world to charge more for their product. As for debt reduction at Tata Steel, the company has laid out a <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/tata-steel-clocks-highest-ever-operating-profit-at-rs-17810-crore/articleshow/87654418.cms">plan to cut it by $2 billion in a year. </a>The street will monitor the progress and react accordingly. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,950 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macquarie </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,817 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,810 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/jio-may-soon-launch-an-affordable-laptop/articleshow/87662052.cms">After its JioPhone Next smartphone, Jio may soon launch an affordable laptop</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-starts-trading-at-548-a-premium-of-5/articleshow/87659329.cms">Fino Payments Bank lists 5% below IPO price</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/if-you-have-an-h-1b-visa-your-spouse-can-get-automatic-work-authorisation/articleshow/87658036.cms">If you have an H-1B visa, your spouse can get automatic work authorisation</a>

The mystery behind the fall in Tata Steel’s shares despite a seven-fold rise in profit

<ul><li><keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India. </li><li>Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases. </li><li>Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India. </li><li>Biocon’s subsidiary Biocon Biologics <a href="https://www.ndtv.com/business/biocon-subsidiary-biocon-biologics-received-nod-to-use-cytosorb-in-covid-19-coronavirus-treatment-2235772">also received approval</a> from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients. </li></ul>Indian pharmaceutical giant Biocon Limited on July 11 got approved from the Drugs Controller General of India for the use of its biologic drug Itolizumab to treat moderate and severe coronavirus patients. The shares of Kiran Mazumdar Shaw-led Biocon rose by nearly 10% after it announced that it has received an emergency use authorisation for Itolizumab. Though the shares have cooled down since the net gains from the stock are over 65% in less than 90 days. <div type="image" title="BIOCON" msid="76936314" hostid="261"></div> While most businesses have struggled to keep their operations up and running during the pandemic, drug makers have been essential in the fight against COVID-19. Biocon has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India. These repurposed drugs were designed to treat other diseases but their generic version is now used to cure coronavirus. However, very few stocks, even within the pharmaceuticals universe, have performed as well as Biocon has. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QTR %</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biocon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cadila Health </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alkem Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddys Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.74 </td></tr></tbody></table>Source: ET READ ALSO: <a href="https://www.businessinsider.in/india/news/fabiflu-covifor-cipremi-medicines-approved-to-treat-covid-19-patients-in-india/slidelist/76507980.cms">Fabiflu, Covifor, Cipremi and other drugs approved or under trial for COVID-19 patients in India</a> Biocon has at least two drugs being used to treat COVID-19 Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases. The firm has repurposed the drug, an anti-CD6 IgG1 monoclonal antibody launched in India in 2013 as Alzumab for treating chronic plaque psoriasis, a skin disease. Itlolizumab will be manufactured and formulated as an intravenous injection at Biocon Park in Bengaluru. The pharma <a href="https://www.businesstoday.in/sectors/pharma/coronavirus-treatment-biocons-psoriasis-drug-itolizumab-approved-by-dcgi-full-course-for-rs-32000/story/409574.html">giant might charge ₹32,000 for the full course</a> of the drug. Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India. Remdesivir is an antiviral drug that was first used to treat Ebola. Biocon’s subsidiary Biocon Biologics <a href="https://www.ndtv.com/business/biocon-subsidiary-biocon-biologics-received-nod-to-use-cytosorb-in-covid-19-coronavirus-treatment-2235772">also received approval</a> from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients. CytoSorb, according to Shaw, is a unique device which reduces cytokine storm in critically ill coronavirus patients and was first introduced in India in 2013. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-reportedly-told-employees-they-have-to-delete-tiktok-from-their-phones-due-to-security-risks/articleshow/76900325.cms">Amazon told employees to delete TikTok from their phones — then walked back the policy and said it was an 'error'</a> <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

₹10,000 invested in Biocon just before lockdown is now worth over ₹16,500⁠— here’s why

<keyword id="19895282" type="General" weightage="20" keywordseo="Mumbai" source="keywords">Mumbai</keyword> city recorded over 300 mm of rainfall at various places in six hours from 1 am to 7 am today, according to the <keyword id="20052950" type="General" weightage="20" keywordseo="Brihanmumbai-Municipal-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Brihanmumbai Municipal Corporation" meta.hostid="261" meta.entityid="Brihanmumbai Municipal Corporation">Brihanmumbai Municipal Corporation</keyword> (<keyword id="19914133" type="General" weightage="20" keywordseo="BMC" source="keywords">BMC</keyword>). Some trains were also cancelled following heavy rains, according to the Central Railways. Heavy rains in some low-lying areas led to <keyword id="19900584" type="General" weightage="20" keywordseo="waterlogging" source="keywords">waterlogging</keyword> and disruption of suburban train services, said the civic body. "Heavy <keyword id="19991168" type="General" weightage="20" keywordseo="rain" source="keywords">rain</keyword> is also expected today. In order to avoid inconvenience to students, a holiday for the first session is declared for all BMC, government and private schools and colleges in Mumbai (BMC area). The decision for the next session will be announced after reviewing the situation," the civic body said in a statement. The Civic body also said that the entire machinery of the BMC is working in the field. It has also requested Mumbaikars not to believe in rumours. Water-logging was reported from Worli, Buntara Bhavan, in Kurla East, King's Circle area of Mumbai, Dadar and Vidyavihar Railway Station. At King's Circle in rain-hit Mumbai, a commuter said, "My car is stuck on the road. There is no point in blaming the government for the rains. The government is doing its job." The Chief Public Relations Officer (CPRO) said in a statement that Central Railway suburban services were affected due to heavy rains. "Train services are affected at Sion and between Bhandup and Nahur stations. Rainwater was above the tracks so trains were stopped for nearly an hour. Now the water has receded a bit so trains are restarting but services are still affected," the CPRO said. Central Railway said traffic on the sub-urban and Harbour Line trains was delayed due to waterlogging. The stations that were affected include Chhatrapati Shivaji Maharaj Terminus and Kurla- Vikhroli &amp; Bhandup. Brihanmumbai Electric Supply and Transport (BEST) said that many of its buses were diverted due to waterlogging. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a><a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Heavy rain lashes parts of Mumbai; More showers expected today

Assam's flood situation remained grim on Monday with a population of nearly 23 lakh affected in <keyword id="22326450" type="General" weightage="20" keywordseo="28-districts" source="keywords">28 districts</keyword> as the water level of most rivers continue to flow above the danger mark, according to an official bulletin. The death toll in this year's flood, landslide and storm was 78 with 66 succumbing in the deluge alone. Leader of Opposition in Lok Sabha, Rahul Gandhi was scheduled to arrive at Silchar on Monday and visit a <keyword id="22326451" type="General" weightage="20" keywordseo="flood-relief-camp" source="keywords">flood relief camp</keyword> at Fulertal in Cachar district en route to Manipur. Assam Chief Minister <keyword id="19952756" type="General" weightage="20" keywordseo="Himanta-Biswa-Sarma" source="keywords">Himanta Biswa Sarma</keyword> said that all relief camps in flood-affected districts are well maintained and stocked with enough essential items till the situation normalises. He said that the safety and hygiene of flood relief camps was a priority of the government with ''my team reaching out to all people staying there to gather real-time feedback''. Currently, nearly <keyword id="22326449" type="General" weightage="20" keywordseo="23-lakh-people" source="keywords">23 lakh people</keyword> in 3,446 villages of 28 districts were affected while 68,432.75 hectares of cropland have been inundated by the second wave of floods. Dhubri was the worst hit with 7,54,791 affected, followed by Cachar with 1,77,928 and Barpeta with 1,34,328 suffering in the swirling water. Altogether 53,689 people have taken shelter in 269 relief camps while 3,15,520 non-relief camp inmates have been provided with <keyword id="20062638" type="General" weightage="20" keywordseo="relief-materials" source="keywords">relief materials</keyword>. The Brahmaputra was flowing above the danger mark at Nimatighat, Tezpur and Dhubri. Other rivers that have breached the red mark are Burhi Dihing in Khowang, Dikhou in Sivasagar, Disang in Nanglamuraghat, Dhansiri in Numaligarh, Kopili in Dharamtul, Beki in Barpeta, Sankosh in Golakganj, Barak in BP Ghat and Kushiyara in Karimganj. Multiple agencies, including NDRF, SDRF and local administration, have been carrying out relief and rescue operations with 171 boats deployed in different parts. Altogether 70 people and 459 cattle were rescued in the last 24 hours by different agencies. Damage to roads, bridges, Anganwadi centres and fishery ponds, have been reported from across the state. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Assam flood situation grim, nearly 23 lakh people affected in 28 districts

<ul><li><keyword id="22212478" type="General" weightage="20" keywordseo="Bansal-Wire" source="Orion">Bansal Wire</keyword> is expected to announce its share allotment status on Monday, July 8.</li><li>The shares of Bansal Wire were subscribed 59.57 times.</li><li>The shares are expected to be listed on the stock exchanges on July 10.</li></ul>Delhi-based Bansal Wire, a stainless steel wire manufacturing company is expected to announce the allotment status of its initial public offering (IPO) on Monday, July 8. The <keyword id="22272879" type="General" weightage="20" keywordseo="Bansal-Wire-IPO" source="keywords">Bansal Wire IPO</keyword> opened on July 3 and closed on July 5. The price band for the IPO was ₹243 to ₹256 per share. <h2>Bansal Wire IPO subscription</h2>On its last day, the Bansal Wire IPO was subscribed 59.57 times, receiving bids for 127.85 crore equity shares against 2.15 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 146.05 times, the non-institutional investor's portion was subscribed 51.46 times. The retail portion witnessed decent participation and was subscribed 13.64 times. <h2>Bansal Wire IPO grey market premium</h2>The shares of Bansal Wire are currently commanding a grey market premium (GMP) of ₹65 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check <keyword id="22302262" type="General" weightage="20" keywordseo="Bansal-Wire-IPO-allotment" source="Orion">Bansal Wire IPO allotment</keyword> status</h2>You can check the Bansal Wire IPO allotment status on the registrar’s website. <ul><li>To check the Bansal Wire IPO allotment status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘Bansal Wire’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Bansal Wire IPO allotment status on the BSE and NSE websites. To check the Bansal Wire IPO allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Bansal Wire’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>Bansal Wire listing date</h2>The shares of Bansal Wire IPO will be listed on the stock exchanges on July 10. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Bansal Wire IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li><keyword id="19940563" type="General" weightage="20" keywordseo="JioCinema" source="keywords" meta.keywordsubtype="org" meta.entityname="JioCinema" meta.hostid="261" meta.entityid="JioCinema">JioCinema</keyword> has announced a new annual ad-free premium plan for individuals.</li><li>The premium subscription plan has been priced at ₹299 per year.</li><li>Here’s everything you need to know about JioCinema’s new <keyword id="21835315" type="General" weightage="20" keywordseo="annual-subscription-plan" source="keywords">annual subscription plan</keyword>.</li></ul> Mukesh Ambani-owned streaming platform JioCinema has announced a new annual subscription plan, soon after announcing two <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">monthly premium plans</a>. The new annual premium subscription from the digital arm of <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> offers ad-free content in 4K. After announcing two monthly plans, JioCinema has now announced an annual plan for individual users. The company is yet to announce an annual plan for family users. <cmsannotation type="cmsannotation" annotationid="JioCinema annual plan price" comment="subhead" text="JioCinema annual plan price"><keyword id="17566564" type="General" weightage="100" keywordseo="JioCinema-annual-plan" source="Orion">JioCinema annual plan</keyword> price</cmsannotation> The JioCinema annual plan is priced at ₹299 per year, which is significantly cheaper than the monthly plan which costs ₹678 per year. While it is priced at ₹29 for the first month, the renewal costs ₹59 per month. The ₹299 annual plan is currently available at a discounted price. After the first year, the plan will cost ₹599. It is currently being offered at a 50% discount as part of an introductory offer. On the other hand, the family plan costs ₹89 per month and there is no annual plan available yet for families. Do note that sports content, including the Indian Premier League (IPL), will continue to be free with Jio’s ad-supported tier. <cmsannotation type="cmsannotation" annotationid="JioCinema premium plan features" comment="subhead" text="JioCinema premium plan features"><keyword id="17402458" type="General" weightage="20" keywordseo="JioCinema-premium-plan" source="Orion">JioCinema premium plan</keyword> features</cmsannotation> The JioCinema <keyword id="21803687" type="General" weightage="20" keywordseo="premium-plan" source="keywords">premium plan</keyword> offers access to all premium content on the platform without any ads, except sports and live content, which will continue to show ads. JioCinema has announced several partnerships over the last few months, including with HBO and Paramount. The company has said that in addition to English, content from international studios will be available in Hindi, Telugu, Tamil, Marathi and Bengali. Users who subscribe to either of the premium plans will also be able to download the content and watch it offline on their device. <cmsannotation type="cmsannotation" annotationid="Plans from rivals" comment="subhead" text="Plans from rivals">Plans from rivals</cmsannotation> JioCinema’s offerings are considerably cheaper when compared to plans offered by its rivals. Netflix offers a mobile-only subscription at ₹149 a month, while Prime Video has a subscription fee of ₹299 per month of ₹1,499 per year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

JioCinema launches new annual ad-free subscription plan at a discount

With millions of people across five continents experiencing scorching heat last month, the European Union's (EU) climate agency, Copernicus <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">Climate Change</keyword> Service (C3S), confirmed on Monday that June was the warmest on record. It also marked the 12th consecutive month of <keyword id="20524196" type="General" weightage="20" keywordseo="global-temperatures" source="keywords">global temperatures</keyword> reaching <keyword id="22325521" type="General" weightage="20" keywordseo="1-5-degrees-Celsius" source="keywords">1.5 degrees Celsius</keyword> above the pre-industrial average. According to scientists at C3S, every month since June last year has been the warmest such month on record. In January, the world completed an entire year with the mean surface air temperature exceeding the 1.5-degree Celsius threshold. June was the 12th consecutive month with monthly average temperatures above the 1850-1900 pre-industrial average. At the 2015 UN climate talks in Paris, world leaders committed to limiting the global average temperature rise to 1.5 degrees Celsius above the pre-industrial period to avoid the worst impacts of climate change. However, a permanent breach of the 1.5-degree Celsius limit specified in the <keyword id="20104670" type="General" weightage="20" keywordseo="Paris-Agreement" source="keywords">Paris Agreement</keyword> refers to long-term warming over a 20 or 30-year period. Earth's global surface temperature has already increased by around 1.2 degrees Celsius compared to the average in 1850-1900 due to the rapidly-increasing concentration of <keyword id="20649149" type="General" weightage="20" keywordseo="greenhouse-gases" source="keywords">greenhouse gases</keyword> -- primarily carbon dioxide and methane -- in the atmosphere. This warming is considered to be the reason behind record droughts, wildfires and floods worldwide. According to new data, June 2024 was the warmest on record, with an average surface air temperature of 16.66 degrees Celsius, 0.67 degrees Celsius above the 1991-2020 average for the month and 0.14 degrees Celsius above the previous high set in June 2023. "The month was 1.5 degrees Celsius above the estimated June average for 1850-1900, the designated pre-industrial reference period, making it the 12th consecutive month to reach or break the 1.5-degree threshold," C3S said in a statement. It was also the 13th consecutive month of <keyword id="21477127" type="General" weightage="20" keywordseo="record-high-temperatures" source="keywords">record-high temperatures</keyword>, a result of the combined effect of the 2023-24 El Nino event and human-caused climate change. While unusual, a similar streak of monthly global temperature records happened previously in 2015-16. "This is more than a statistical oddity and highlights a large and continuing shift in our climate. Even if this specific streak of extremes ends at some point, we are bound to see new records being broken as the climate continues to warm. This is inevitable, unless we stop adding greenhouse gases into the atmosphere and the oceans," said Carlo Buontempo, the director of C3S. The European climate agency said the global average temperature for the last 12 months (July 2023-June 2024) is the highest on record, at 0.76 degrees Celsius above the 1991-2020 average and 1.64 degrees Celsius above the 1850-1900 pre-industrial average. The world's sea surface in June was also the highest ever recorded for the month. Several countries experienced record-breaking heat and devastating floods and storms in June. According to an analysis by Climate Central, an independent group of scientists and communicators based in the United States, more than 60 per cent of the world population faced extreme heat that was made at least three times more likely by climate change during June 16-24. Climate Central said the blistering heat in June impacted 619 million (61.9 crore) people in India, 579 million (57.9 crore) in China, 231 million (23.1 crore) in Indonesia, 206 million (20.6 crore) in Nigeria, 176 million (17.6 crore) in Brazil, 171 million (17.1 crore) in Bangladesh, 165 million (16.5 crore) in the US, 152 million (15.2 crore) in Europe, 123 million (12.3 crore) in Mexico, 121 million (12.1 crore) in Ethiopia and 103 million (10.3 crore) in Egypt. According to the India Meteorological Department (IMD), northwest India recorded its warmest June since 1901. India, which experienced one of its hottest and longest heatwaves, recorded more than 40,000 suspected heatstroke cases and over 100 heat-related deaths. The intense heat overwhelmed the water supply system and power grids, with Delhi grappling with a severe water crisis. According to the IMD, 11 states recorded 20 to 38 heatwave days -- up to four times the usual number of such days -- during the April-to-June period. The mercury breached 50 degrees Celsius in parts of Rajasthan, with night temperatures hovering around 35 degrees Celsius in many places. Temperatures were most above average over eastern Canada, the western United States and Mexico, Brazil, northern Siberia, the Middle East, northern Africa, and western Antarctica. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

June warmest on record; every month since July 2023 breached 1.5 deg C threshold

<ul><li>Business Insider India’s mystery shopper visited Mumbai’s Apple store on the very first day and compared it to the stores she visited in the US. </li><li>Most visitors came in groups, and a few even visited during office breaks. </li><li>Even with a large number of visitors, Apple Geniuses of all nationalities were welcoming visitors and giving demos. </li></ul>I am writing this article on a MacBook Pro — a product that was launched the year I was born, 2006. Since then, all Apple products be it iPods, iPads, iPhones or Apple TV have been a part of my life. I have been to an Apple store before too at New Haven in Connecticut, but my most memorable Apple store visit is the freshly launched one at Jio World Drive in BKC. Though I was a tad late to be welcomed by Tim Cook, the CEO of Apple, the feeling of euphoria was still there. There was music playing, people were just as excited even at 12 noon — even in the heat while waiting in a queue. There were two singers belting out songs, performers dressed in colorful costumes dancing in front of a rapturous audience. I stood in the long line for half an hour to enter the store, the queue seemed to wind indefinitely reminding me of an airport security line. The Apple team was sending people inside in batches and as expected, people were lingering around soaking in the sights. However, the smiles on the faces of the people exiting the store with tote bags that had a customized Apple logo on them — made me feel that the wait was worth it. Mid-day summer’s heat Needless to say, the heat outside was palpable – over 36 degrees Celsius. But there was another kind of warmth around too. The Apple team was giving out water bottles to those battling the Mumbai sun. Around me were people of all ages, most of whom had come in groups, and there were some in office attire too. Ahead of me was a Punjabi-Canadian couple who were in Mumbai for a holiday. The die-hard Apple fans had penciled a Mumbai store visit into their itinerary, and were keen to buy products too but were worried that the prices here would be much higher than they would in Canada. Behind me was a father- son duo from Mumbai who shared that they had mainly just come for the experience, but would consider buying a pair of Air pods. I was extremely interested to learn that this BKC store is one of Apple’s most sustainable outlets so far. It runs completely on renewable energy and is operationally carbon neutral. It seems to be a part of Apple’s journey towards carbon neutrality. The company has committed to use only recycled earth elements in its magnets, and increase the use of less carbon-intensive transport. <div type="image" title="apple2" msid="99682864" hostid="261" caption="&amp;lt;p&amp;gt;Source: IANS&amp;lt;/p&amp;gt;"></div> What’s in the store? As I stepped inside, Apple staff of different nationalities were standing at the door, welcoming us customers effusively. Although the store was teeming with customers, there were enough Apple Geniuses to guide and interact with each individual. One of the Geniuses told me that they were pleasantly surprised by the magnitude of the crowd. Another Genius who had been working with Apple for two years, said that she had anticipated it. The store was choc-a-bloc but there were many Geniuses all ready to answer questions and help make a purchase. Most visitors were exploring the different features of iphones, Macbooks and ipads. I, personally, was in awe of the variety of accessories on display, especially Apple Watch Straps. I enjoyed watching the interactive session being conducted by a genius and also trying out the noise canceling headphones at the Apple Arcade session. Most first-day visitors were lining up to buy accessories, but the store staff said that many laptops and phones flew off the shelves as well. This store seemed exceptional not just because it is the first in India but even in comparison to others the Mumbai store stands out. The store in New Haven, Connecticut, a much smaller structure, was a far less memorable visit. The staff here was much friendlier and more affable. The impressiveness of Apple BKC is far more akin to that of the Marina Bay Sands Apple Store, a spherical structure sitting on the water. Some other stores which I haven’t visited but seem mind-blowing are the Apple Tower Theatre in Los Angeles, USA and the Apple Piazza Liberty store in Milan, Italy. The Apple store in Dubai Mall has a falcon -themed design, with solar wings resembling the movement of the bird opening. The store in Fifth Avenue in New York, an all-night retail store also known as the ‘Cube’ which has a spiral staircase leading to a grand hall below the plaza where it is located. The multilevel Regent Street Store in London, England not only has the longest custom made luminous ceilings panels in the world but is also listed as a historical façade. Overall, I felt the Mumbai store lived up to the hype and I hope to visit the store opened in Delhi as well. (The writer, Ananya Tawakley is an intern with Business Insider India. The writeup is a first person account of her visit to the Apple store.)

First day, first show: Business Insider sent its mystery shopper to Apple’s flagship store in Mumbai and was surprised

<ul><li>Last month, <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s Viacom18 won the digital rights of the <keyword id="6354831" type="General" weightage="20" keywordseo="indian-premier-league" source="Orion">Indian Premier League</keyword> for the next five years, beating Disney Star to the punch.</li><li>Reliance will now have to foot a hefty bill for content production, media acquisition, marketing costs, and other hosting expenses.</li><li>On top of that, viewership of the recently concluded <keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword> season 15 fell by 30-35% in the first four weeks compared to last year’s figures.</li><li>With decreasing viewership numbers and television taking the bigger piece of the viewership pie, experts tell us if Reliance will get its bang for the buck.</li></ul>India’s richest man <a href="https://track.sendpal.in/link/track/62abe73e4cfb1f6f0a1d3647/mail/62abe4d38b0f05df4598bb56/feature?url=https%3A%2F%2Fwww.businessinsider.in%2Fbusiness%2Fcorporates%2Fnews%2Fipl-value-jumps-3x-to-48000-crore-heres-how-much-mukesh-ambani-disney-and-times-internet-are-spending%2Farticleshow%2F92209726.cms%3Futm_source%3Dbi%26utm_medium%3Demail_newsletter%26utm_campaign%3DBusiness_Insider_Newsletter">Mukesh Ambani</a> is banking on India’s most valuable sporting property, IPL, to build his content and telecom empire. But, IPL’s fallen victim to a 15-year itch and suffering from consumption fatigue. As per a recent survey conducted by consumer data intelligence company Axis My India, only 25% of Indians watched IPL this year, and even among those who watched it, 65% watched it on TV. Only 29% said that they have watched it on digital platforms. Less than a third of the smaller part of a shrinking pie is what Ambani is left with as the days of people taking sick leaves on IPL days are long behind it. On the contrary, Viacom18 paid a record <a href="https://www.businessinsider.in/business/corporates/news/how-ipl-franchises-make-money/articleshow/92273299.cms">₹23,750 crore</a> last month to bag two and a half bundles of IPL’s media rights. It beat Disney Star to win the <a href="https://www.businessinsider.in/business/corporates/news/will-mukesh-ambanis-viacom18-and-star-make-a-profit-out-of-ipl-in-the-next-5-years/articleshow/92278191.cms">package </a>that includes digital, non-exclusive digital rights and a few international countries. It sounds like a lot of money has been paid for something that’s not a hot property anymore. Even those who watched IPL, watched one or more matches this season. IPL season 15’s television <a href="https://www.business-standard.com/podcast/current-affairs/will-the-fall-in-ipl-viewership-impact-the-big-media-rights-auction-122053100078_1.html">viewership </a>fell by 30-35% in the first four weeks compared to last year’s figures. “One can witness respondents suffering from consumption fatigue which could be related to the innumerable choice of content, ease in mobility and the availability of experiencing ‘cinema’ etc. The craze around IPL persists across platforms but whether this excitement justifies its high media rights, time will tell,” said Pradeep Gupta, chairman and MD of Axis My India. A TV every home but a mobile on every hand Girish Upadhyay, the CMO of Axis My India however is more hopeful as rural consumers are watching IPL on mobile because of cheaper data and power cuts. “There is a bigger play that Reliance’s Viacom is looking at,” he told Business Insider India. He believes that IPL will give new users to Viacom + Jio combination, giving them a significant edge as they scale up their platforms. “These new viewers can help build the subscription revenue for the GEC, movies, and original content library they have, hence IPL can’t just be looked at in isolation. IPL has never been just about numbers in terms of ratings, the kind of impact, engagement it gives brands is unprecedented,” said Upadhyay. But a <a href="https://www.businessinsider.in/business/corporates/news/will-mukesh-ambanis-viacom18-and-star-make-a-profit-out-of-ipl-in-the-next-5-years/articleshow/92278191.cms">CLSA report</a> calculates that for Ambani’s Viacom18 to break even and equate to their bidding cost, its advertising revenue will have to grow by 57%. However, experts are banking on Reliance’s spectacular strategies to push forward in a game where it is a laggard. N Chandramouli, CEO of research firm TRA said that if television has reached every home, a mobile phone has reached every hand. “That’s what makes the digital rights of IPL so exciting for Reliance. We must remember that today, viewing has become a personal experience and not a family experience. While the young children may be watching IPL on their phones or laptops, the parents may be watching the news on TV,” said Chandramouli. Voot to become a bigger fish in the sea? In the landscape of digital streaming, MX Player, Disney+Hotstar, Amazon Prime occupy the largest share of the market and Viacom18’s Voot is at a distant 2%. <div type="image" title="ott" msid="92653181" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> Chandramouli said that Reliance is more likely to get its ‘bang for the buck,’ since it will grow the Voot paid subscriber audience significantly. This is the same price game that Reliance played when they entered the telecom market as the fourth player. They gave their mobile subscriptions for free for three months to grow into the largest player in the market. Six years on, it’s still the operator which provides the cheapest data. The same thing is happening to the OTT offering as well. It’s the cheapest OTT in the market which is about to get a blockbuster property – even if its popularity is waning. The digital rights acquired by Reliance is for five years and experts estimate it will start paying off from the third year onwards. “Whether the competition likes it or not, Reliance does tend to change the rules of the game in the sectors it operates in. Since Jio subscribers will also have viewing rights to IPL, the win is also likely to grow Jio customers. No other OTT player has such synergies, which gives Reliance an advantage at multiple fronts to gain from the IPL win,” said Chandramouli.

Mukesh Ambani has to change the rules of the IPL game - which is losing eyeballs

<ul><li>The Indian government approved <keyword id="16054" type="General" weightage="80" keywordseo="dot" source="Orion">DoT</keyword>’s 5G spectrum auction during a cabinet meeting held on June 14.</li><li>Reportedly, an auction of 72097.85 MHz of spectrum with 20 yrs validity by July-end will be put to auction.</li><li>India is going to get 5G connectivity soon.</li></ul>The Union Cabinet has approved the auction of airwaves capable of offering fifth-generation or 5G telecom services including ultra high-speed internet, and gave its nod for setting up of captive 5G networks by the big tech firms. The auction of over 72 GHz of the spectrum will be held by July-end, said an official statement detailing the decision taken by the Union Cabinet headed by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>, at its meeting held on June 14. The spectrum auction will commence on July 26, 2022. Sources told PTI that the Cabinet has approved 5G auctions at reserve prices recommended by the sector regulator Telecom Regulatory Authority of India (TRAI). TRAI had earlier recommended about a 39 per cent reduction in the reserve or floor price for the sale of 5G spectrum for mobile services. While the 5G spectrum in nine frequency bands will be auctioned to telecom operators like Bharti Airtel and Reliance Jio, the Notice Inviting Applications -- bid-related document issued by DoT -- said big tech firms for the time being will be allowed to take the 5G spectrum for their captive non-public network, on lease from the telecom companies. The Notice Inviting Offer said direct allocation to the big tech companies will follow a demand study and sector regulator TRAI's recommendation on aspects such as pricing and modalities of such allocation. Big tech companies like Google have been seeking direct allocation of spectrum for applications such as machine-to-machine communications, IoT and AI, while telecom companies have been opposing direct allocation of 5G spectrum to them saying it will distort the level playing field and rob the government of revenues. "Enterprises setting up Captive Non-Public Network may obtain the spectrum on lease from TSPs (telecom service providers) having Access Service Authorization and establish their own isolated network. Required Licensing terms and conditions and Spectrum Leasing guidelines shall be issued by DoT," the Notice Inviting Applications said. As per the document, the government from time to time will publish required provisions and guidelines and licensing terms and conditions for enabling the setting up of Captive Non-Public Network (CNPN). According to the document, the auction is slated to start on July 26, 2022. Among other key dates to watch-out for is the pre-bid conference scheduled for June 20, 2022, submission of applications with a deadline of July 8, and pre-qualification of bidders on July 18. Mock auctions will be held on July 22 and 23, 2022. A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction to be held by the end of July, 2022. "The Union Cabinet chaired by Prime Minister Narendra Modi has approved a proposal of the Department of Telecommunications to conduct spectrum auction through which spectrum will be assigned to the successful bidders for providing 5G services to public and enterprises," the official release said. The auction will be held for spectrum in various Low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), Mid (3300 MHz) and High (26 GHz) frequency bands. Overall, the payment terms have been eased for bidders in the upcoming auction. Continuing the pace of telecom sector reforms, the Cabinet announced various progressive options with regard to the spectrum auction, for facilitating ease of doing business. "For the first time ever, there is no mandatory requirement to make upfront payment by the successful bidders. Payments for spectrum can be made in 20 equal annual instalments to be paid in advance at the beginning of each year," it said, adding this is expected to significantly ease cash flow requirements and lower the cost of doing business in this sector. The bidders would be given an option to surrender the spectrum after 10 years with no future liabilities with respect to balance instalments. No SUC (spectrum usage charges) will be charged for spectrum acquired in this auction. "The availability of sufficient backhaul spectrum is also necessary to enable the roll-out of 5G services. To meet the backhaul demand, the Cabinet has decided to provisionally allot 2 carriers of 250 MHz each in E-band to the Telecom Service Providers," the official statement said. The Cabinet also decided to double the number of traditional Microwave backhaul carriers in the existing frequency bands of 13, 15, 18 and 21 GHz bands, the release informed. The India market is gearing up 5G services, that will usher in ultra high speeds and spawn new-age services and business models, and the mega-auctions will pave the way for roll out of next generation services by telcos, in 2022-23. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/asus-story-from-nobody-knows-you-sell-laptops-to-the-third-largest-laptop-maker-in-india/articleshow/92220613.cms">INTERVIEW: From ‘nobody knows you sell laptops’ to the third largest laptop maker in India — the Asus India story</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-infosys-and-hcl-tech-can-do-better-in-a-shallow-recession-than-a-slowdown/articleshow/92214156.cms">TCS, Infosys and HCL Tech can do better in a shallow recession than a slowdown</a>

Indian govt approves 5G spectrum auctions, but telcos might not be happy

The menace of ragging continues to haunt students in some institutions in <keyword id="13104" type="General" weightage="20" keywordseo="telugu" source="Orion">Telugu</keyword> states as in the latest case in Andhra Pradesh, 18 students of <keyword id="6034800" type="General" weightage="20" keywordseo="jntu-anantapur" source="Orion">JNTU Anantapur</keyword> have been suspended for <keyword id="1325638" type="General" weightage="20" keywordseo="ragging-juniors" source="Orion">ragging juniors</keyword>. The College Academic Council of Jawaharlal Nehru Technological University (<keyword id="99885" type="General" weightage="20" keywordseo="jntu" source="Orion">JNTU</keyword>) suspended students of Anantapur Engineering College for forcibly taking some freshers to their hostel. The juniors were allegedly forced to stand half-naked and follow orders of the seniors. The incident took place on Friday night but came to light a day later. The college authorities learnt about ragging when a parent of one of the first-year students complained. The college authorities came to know that some first-year students were taken to <keyword id="13120357" type="General" weightage="20" keywordseo="gurukula-hostel" source="Orion">Gurukula Hostel</keyword>, the hostel of seniors. When questioned by the college principal, the freshers revealed how they were ragged by the seniors. Taking a serious note of the incident, the College Academic Council suspended 18 students of the second year found involved in the ragging from academics and hostel. The Council began a detailed inquiry on Monday to ascertain facts from the victims and other students for further action. Police also took suo-moto note of the ragging incident and began a probe. According to Anantapur Superintendent of Police Fakkerappa Kaginelli, the police have not received any complaint but they took suo-moto cognizance and deputed a DSP-rank officer to probe the incident. This is the second incident of ragging in the government-run institutions in the Telugu states in the last one month. Six students of a government medical college in Telangana's Suryapet were suspended for one year for ragging a junior student last month. Second year MBBS students of the Government Medical College Suryapet were punished after they were found involved. They were also arrested by the police under the Anti-Ragging Act. The police rescued the junior student Sai Kumar after receiving a call that some senior students were ragging him in the Boys hostel of the college. The complainant alleged that a group of students came to his room, ordered him to take off his clothes and took video shots of him in their mobile phones. They also tried to cut his hair. The victim said he was physically and mentally tortured for two hours. He later managed to escape from them and called up his father after hiding in another room. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/macquarie-slashes-paytms-target-price-to-700-goldman-sachs-upgrades-it/articleshow/89401105.cms">Macquarie slashes Paytm’s target price to ₹700, Goldman Sachs upgrades it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-laptop-inches-closer-to-launch-could-be-powered-by-windows-10-and-an-arm-processor/articleshow/89400900.cms">Jio laptop inches closer to launch, could be powered by Windows 10 and an ARM processor</a>

Over 18 students of Andhra Pradesh's JNTU college suspended for ragging juniors

<ul><li>Home loans have never been cheaper in the past one decade, and despite home prices being on the higher side, these rates present a good opportunity to buy a home.</li><li>On the other hand, government borrowings are now more expensive than home loans, which might seem bizarre.</li><li>However, there is a simpler explanation – read on to find out.</li></ul>Home loans are at their lowest in the past one decade, with banks and financing companies offering interest rates as low as 6.4% per annum. If you have been considering taking a <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> and buying your dream home, you might think this is perhaps a great time – and literally – a once-in-a-decade opportunity. More so when experts think home prices might not come down anytime soon. So, all things considered, the time does seem right. But have you wondered that banks and finance companies are willing to offer you – an individual – a home loan at a cheaper rate than what the Indian government pays on its borrowings? <div type="Article" hostid="261" msid="89322645" title="Want to buy your dream home? Know how the union budget may impact home prices" mstype="2" mssubtype="0"></div> The gulf in home loan interest rates and what the Indian government pays is exaggerated even more when you consider the fact that an individual is much more likely to default on a loan than the Indian government. What makes this even more absurd is the fact that not only can you borrow at a cheaper rate, but you can also claim deductions under the Income Tax Act, which further lowers your effective cost of borrowing, <a href="https://www.businessinsider.in/personal-finance/news/know-how-the-union-budget-2022-may-impact-home-prices/articleshow/89322645.cms">explained</a> Vikram Kotak, cofounder of Ace Landsdowne Investments, in an interview with Business Insider. <cmsannotation type="cmsannotation" annotationid="Here are home loan interest rates offered by some of the most popular banks and finance companies in 2022:" comment="subhead" text="Here are home loan interest rates offered by some of the most popular banks and finance companies in 2022:">Here are home loan interest rates offered by some of the most popular banks and finance companies in 2022:</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bank/Financier </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Starting interest rate (per annum) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Union Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.50% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.55% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.70% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.70% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Citibank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.75% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.75% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">LIC Housing Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.90% </td></tr></tbody></table> Source: Banks, finance company websites <cmsannotation type="cmsannotation" annotationid="And here are the yields on government bonds:" comment="subhead" text="And here are the yields on government bonds:">And here are the yields on government bonds:</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Duration </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yield </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1 year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">4.57% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">5 years </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.19% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">10 years </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.88% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">30 years </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">7.44% </td></tr></tbody></table> Source: Investing.com Higher the duration, higher the yield. Government bonds start to become more expensive than home loans from the 10-year tenure onwards. <cmsannotation type="cmsannotation" annotationid="So, what is the reason for this?" comment="subhead" text="So, what is the reason for this?">So, what is the reason for this?</cmsannotation> The explanation is simple – demand and supply. At the moment, the government has a much higher borrowing programme, which means that it has to make it more lucrative to purchase its bonds by offering higher yields. Since the COVID-19 pandemic, the Indian government has borrowed nearly ₹25 lakh crore, and it has a budget to borrow ₹11.6 lakh crore yet again next year. Once the market absorbs these bonds and the supply comes down, these yields will start reducing. On the other side, the Reserve Bank of India <a href="https://www.bloombergquint.com/business/rbi-policy-is-easy-liquidity-leading-to-mispricing-of-risk">improved</a> the liquidity in the system when the pandemic hit, but borrowings did not gather enough pace. This resulted in banks struggling to find ways to make money from the additional liquidity, and home loans were one of the avenues that they have explored by offering attractive rates of interest. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/know-how-the-union-budget-2022-may-impact-home-prices/articleshow/89322645.cms">Want to buy your dream home? Know how the union budget may impact home prices</a> <a href="https://www.businessinsider.in/personal-finance/news/what-is-an-updated-return-who-can-file-it-and-are-there-any-penalties-to-pay/articleshow/89278919.cms">What is an updated return, who can file it and are there any penalties to pay?</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-laptop-inches-closer-to-launch-could-be-powered-by-windows-10-and-an-arm-processor/articleshow/89400900.cms">Jio laptop inches closer to launch, could be powered by Windows 10 and an ARM processor</a>

Here’s why a home loan is cheaper for you than what the safest borrower in the country pays as interest

<ul><li><keyword id="105572" type="COMPANY" weightage="20" keywordseo="glenmark-pharmaceuticals">Glenmark Pharmaceuticals</keyword> has announced that it has commenced a Post Marketing Surveillance (PMS) study on <keyword id="9431798" type="UNKNOWN" weightage="20" keywordseo="FabiFlu">FabiFlu</keyword> to closely monitor the efficacy and safety of the drug in 1000 <keyword id="8870383" type="UNKNOWN" weightage="20" keywordseo="covid-patients">Covid patients</keyword> that are prescribed with the oral antiviral. </li><li>Further, Glenmark has announced a price reduction of 27 per cent for FabiFlu. The new MRP is Rs 75 per tab from the earlier Rs 103 per tab.</li><li>The price reduction has been made possible through benefits gained from higher yields and better scale, as both the API and formulations are made at Glenmark's facilities in India, the benefits of which are being passed on to patients in the country.</li></ul> Glenmark Pharmaceuticals has announced that it has commenced a Post Marketing Surveillance (PMS) study on FabiFlu to closely monitor the efficacy and safety of the drug in 1000 Covid patients that are prescribed with the oral antiviral. Further, Glenmark has announced a price reduction of 27 per cent for FabiFlu. The new MRP is Rs 75 per tab from the earlier Rs 103 per tab. The price reduction has been made possible through benefits gained from higher yields and better scale, as both the API and formulations are made at Glenmark's facilities in India, the benefits of which are being passed on to patients in the country. Glenmark has successfully developed the active pharmaceutical ingredient (API) and the formulation for FabiFlu through its own in-house R&amp;D team within the country, ensuring self-reliance with regard to long term production and manufacturing. Commenting on these developments, Alok Malik, Senior Vice President &amp; Head  India business, Glenmark Pharmaceuticals said, "We expect this post marketing surveillance study to shed more light on the drug's clinical effectiveness and safety in a large cohort of patients prescribed FabiFlu. Our priority from the start of this pandemic has been to offer patients in India an effective treatment for COVID-19, while also ensuring accessibility to the masses. "Our internal research shows us that we launched FabiFlu in India at the lowest market cost as compared to the cost of Favipiravir in other countries where it is approved. And now we hope that this further price reduction will make it even more accessible for patients across the country." Despite investing significantly in R&amp;D, clinical trials and the manufacturing of FabiFlu (API and formulations), Glenmark has managed to keep the pricing of FabiFlu lower as compared to its price in other countries. FabiFlu in India was originally launched at Rs 103 per tablet, while, its price in Indian Rupees is higher in the remaining countries like Rs 600 in Russia, Rs 378 in Japan, Rs 350 in Bangladesh and Rs 215 in China. On June 20, Glenmark announced that it received manufacturing and marketing approval from India's drug regulator for FabiFlu, making it the first oral Favipiravir-approved medication in India for the treatment of mild to moderate COVID-19. The manufacturing and marketing approval was granted as part of accelerated approval process, considering the emergency situation of the COVID-19 outbreak in India. The approval's restricted use entails responsible medication use where every patient must have signed informed consent before treatment initiation. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-reportedly-told-employees-they-have-to-delete-tiktok-from-their-phones-due-to-security-risks/articleshow/76900325.cms">Amazon told employees to delete TikTok from their phones — then walked back the policy and said it was an 'error'</a> <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

Glenmark's Fabiflu will now be available at ₹75 per tab in India

Shoppers in India eagerly await the Independence Day year on year for the attractive discounts and offers they find on some top rated offline and online stores. The head turning offers given away by all the prominent stores bring the customers some interesting deals on electronics, clothing, laptops, cameras and tablets besides the whole range of other shopping categories. <keyword id="6419831" type="COMPANY" weightage="20" keywordseo="reliance-digital">Reliance Digital</keyword> India is making this Independence Day all the more special for its customers by announcing some fantastic price slashes, jaw breaking cash backs and unbelievable bundled offers make this Independence Day very special to the customers on Reliance Digital India online portal. The news becomes just unbelievable as you get all of this benefits on the products of some top brands. Reliance Digital India shopping frenzy is already on When the country prepares to celebrate the 73rd Independence Day, Reliance Digital India sale is one of the hotly pursued topics on the internet and social media. Started on August 10, 2019, and offering some incredible discounts on some smartphones, the most compelling shopping festival will run till August 15, 2019. This time Reliance Digital is giving away 15% cashback on the purchase of some smartphones and handsets from some major brands which has triggered a frantic shopping mania in the customers. Some of the deals are available on pre-bookings. What is so hot about it? Reliance India is also providing some no-cost EMI options when you pay through some specified credit and debit cards. The other attractive features of the sale include irresistible discounts and 1-year manufacturer warranty on the devices bought. When you buy a few phone models, you also get 5,000 mAh power banks at an unbelievable price of Rs 149 and 3D VR glasses at just Rs 49. While buying some other <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> models, you will get Reconnect power banks of 10,000 to 12,500 mAh capacity at just Rs 199. Some highly interesting deals you will admire On the hotly pursued Digital India sale, you can get a 55 inches <keyword id="169786" type="PERSON" weightage="20" keywordseo="smart-TV">Smart TV</keyword> at just Rs 39,900. The price of 65 inches Smart TV is just Rs 59,990 and a top brand’s 32 inches TV will cost you Rs 10,990. When you shop for a 1.5 ton 3-Star inverter AC, you will get an LG Refrigerator worth Rs 10,490 free of cost. Purchase of some gaming laptops will fetch you some free benefits worth Rs 13,000. On the purchase of some latest laptops, you will get as many as 6 astounding offers. It is time to get infected with the shopping mania The latest edition of Reliance Digital India annual sale brings the customers unbelievably special deals. With the time running out fast, there is only a couple of days to grab the all new dream offers that are fast running out. With a long list of product categories put on offers, you can access all of these shopping benefits on 360 Reliance Digital Stores, more than 2200 Jio Stores and the official online portal of the company <a href="http://www.reliancedigital.in">www.reliancedigital.in</a>.

Reliance Digital India Sale - Interesting Deals On Major Brands

<ul><li>According to the bill, Indians should not exceed 15 per cent of <keyword id="6387116" type="LOCATION" weightage="20" keywordseo="kuwait">Kuwait</keyword>'s population.</li><li> This could result in 800,000 Indians leaving Kuwait, as the Indian community constitutes the largest expat community in the country, totalling 1.45 million, the Gulf News reported, citing a leading Kuwaiti newspaper.</li><li>The current population of Kuwait is 4.3 million, with Kuwaitis making up 1.3 million of the population, and expats accounting for 3 million. </li></ul> Some 8 lakh Indians could be forced to leave Kuwait after a parliamentary committee approved a <keyword id="9523020" type="UNKNOWN" weightage="20" keywordseo="draft-expat-quota-bill">draft expat quota bill</keyword> seeking to gradually slash the number of foreign workers in the <keyword id="1628609" type="PERSON" weightage="20" keywordseo="Gulf-country">Gulf country</keyword>, according to media reports. The National Assembly's legal and legislative committee has determined that the expat quota bill is constitutional. According to the bill, Indians should not exceed 15 per cent of Kuwait's population. This could result in 800,000 Indians leaving Kuwait, as the Indian community constitutes the largest expat community in the country, totalling 1.45 million, the Gulf News reported, citing a leading Kuwaiti newspaper. The current population of Kuwait is 4.3 million, with Kuwaitis making up 1.3 million of the population, and expats accounting for 3 million. Amid a slump in oil prices and the coronavirus pandemic, there has been a spike in anti-expat rhetoric as lawmakers and government officials call for reducing the number of foreigners in Kuwait. Last month, Kuwait's Prime Minister Sheikh Sabah Al Khalid Al Sabah proposed reducing the number of expats from 70 per cent to 30 per cent of the population, the report said. Assembly Speaker Marzouq Al-Ghanem told Kuwait TV that he and a group of lawmakers will submit to the Assembly a comprehensive draft law calling for a gradual reduction of expats in Kuwait. Kuwait has a real problem in its population structure, in which 70 per cent are expats, the Speaker said, adding that what is more serious is that 1.3 million of the 3.35 million expats "are either illiterate or can merely read and write", the people Kuwait does not really need, <keyword id="9525642" type="COMPANY" weightage="20" keywordseo="the-kuwait-times">the Kuwait Times</keyword> reported. "I understand that we recruit doctors and skilled manpower and not unskilled laborers. This is an indication that there is a distortion. Visa traders have contributed in increasing this figure," Ghanem said. The Speaker said the draft law they intend to file will propose to impose a cap on the number of expats, whose numbers must decrease gradually by stating that this year expats will be 70 per cent, next year 65 per cent and so on, the report said. The expat quota bill will now be referred to the concerned committee for consideration. It states that the Indian expatriate community should not exceed 15 per cent of the national population, which means around 800,000 of them might be required to leave Kuwait, <keyword id="9525643" type="COMPANY" weightage="20" keywordseo="the-arab-news">the Arab News</keyword> reported. According to the Indian embassy in Kuwait, there are about 28,000 Indians working for <keyword id="9525644" type="COMPANY" weightage="20" keywordseo="the-kuwaiti-government">the Kuwaiti Government</keyword> in various jobs like nurses, engineers in national oil companies and a few as scientists. The majority of Indians (5.23 Lakh) are deployed in private sectors. In addition, there are about 1.16 lakh dependents. Out of these, there are about 60,000 Indian students studying in 23 Indian schools in the country. The bill will now be transferred to the respective committee so that a comprehensive plan is created. It proposes similar quotas for other nationalities. Kuwait is a top source of remittances for India. In 2018, India received nearly USD 4.8 billion from Kuwait as remittances. Foreigners have accounted for the majority of Kuwait's COVID-19 cases as the disease spread among migrant workers living in overcrowded housing. According to latest data from Johns Hopkins University, more than 49,000 cases of coronavirus have been reported in Kuwait. Globally, more than 5 lakh people have died and over 11 million have been infected by COVID-19. SEE ALSO: <a href="https://www.businessinsider.in/international/news/india-just-surpassed-russia-to-become-the-country-with-the-3rd-highest-number-of-coronavirus-infections/articleshow/76804658.cms">India just surpassed Russia to become the country with the 3rd-highest number of coronavirus infections</a> <a href="https://www.businessinsider.in/tech/news/india-vice-president-launches-a-social-media-super-app-elyments-which-will-take-on-facebook-instagram-and-whatsapp/articleshow/76796178.cms">India’s Vice President launches a social media super app Elyments, which will take on Facebook, Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

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The mystery behind the fall in Tata Steel’s shares despite a seven-fold rise in profit

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₹10,000 invested in Biocon just before lockdown is now worth over ₹16,500⁠— here’s why

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