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Markets during the last week saw wild gyrations with the first three days seeing a sharp dip followed by a more than equally sharper rise and then yet another dip, to be back on neutral ground. Friday was a nothing day and markets ended marginally up. The week ended with a small negative bias and in what could be termed a highly volatile week. BSESENSEX lost 30.54 points or 0.05 per cent to close at 58,803.33 points while <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> lost 19.45 points or 0.11 per cent to close at 17,539.45 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.20 per cent, 0.29 per cent and 0.38 per cent respectively. BSEMIDCAP gained 1.37 per cent while BSESMALLCAP was up 1.35 per cent. The <keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 6 paisa or 0.08 per cent to close at Rs 79.80 to the US Dollar. Dow Jones continued to remain under pressure and lost on four of the five trading sessions. It lost 964.96 points or 2.99 per cent to close at 31,318.44 points. It is now down 13.81 per cent on a year-to-date basis. On a similar comparison, the Indian benchmark indices are up about one percent. India is now the world's fifth largest economy. It squeezed out the United Kingdom. GST collections for the month of August were at 1,43,612 crore. This is the sixth consecutive month that the collection is at Rs 1.40 lakh crore or higher. The primary market sees the issue from <keyword id="7111922" type="General" weightage="50" keywordseo="tamilnad-mercantile-bank-limited" source="Orion">Tamilnad Mercantile Bank Limited</keyword> tapping the markets with its fresh issue of 1,58,40,000 equity shares in a price band of Rs 500-525. The issue would raise Rs 792- 831.6 crore at the price band. The issue opens on Monday the 5th of September and closes on Wednesday the 7th of September. On Friday, the company completed allocation to anchor investors of 71,28,000 shares at Rs 510. In the last couple of years, one doesn't recall that the anchor book or allocation has been made at a price lower than the top end. Coming to the bank's performance, it is a 100-year-old private bank dominant in the state of <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. In terms of business as much as 75 per cent comes from the state of Tamil Nadu. The next chunk of business comes from the states of Maharashtra, <keyword id="37102" type="General" weightage="80" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword>, Karnataka and Gujarat which contribute about 16 per cent. The bank has grown very significantly during the Covid-19 pandemic. Its EPS has doubled from 2019-20 to 2021-22 from Rs 28.61 to Rs 42.34 and finally to Rs 57.67. It has a decent asset quality as well. Its gross NPAs were at 1.69 per cent while net NPAs were at 0.95 per cent for the year ended March 2022. The shares which are being offered at a price band of Rs 500-525 have a PE multiple of 8.67-9.10 times its FY 22 earnings. In terms of book value, the same is at Rs 374.41, which makes the issue at 1.4 times price to book. Looking at the allotment of anchors, it becomes clear that effectively the new price band is now Rs 500-510 and shares would be allotted at Rs 510. Readers may apply for the shares of the bank considering its fundamentals and pedigree, considering it's a 100-year-old bank. There may be limited upside on listing and investors should apply only for the medium term. Considering its peer group, the bank is adequately priced. There is a change introduced in the bidding process for IPOs with effect from 1st September. Bids made would have to be blocked by the end of the day before the final subscription figures are announced. This is in relation to the hue and cry that was raised where one saw thousands of applications not being banked post being bid. It was also noticed that issues which were subscribed at the end of the bidding time were actually undersubscribed post the final figures. This would put an end to bidding by investors who wanted to eat the cake and have it. Coming to the markets in the week ahead, we would see volatility continuing. While FPIs were buyers largely on most days in August, this is not the case in September and they were sellers as well. Things are not the best in US markets and the 75 basis points hike in the meeting to be held on September 20-21 is a foregone conclusion. What and how the markets react would be based on the commentary post the meeting outcome. Our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be final resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. The strategy for the week would be to continue selling on rallies and buying on sharp dips. Markets are in a trading zone and they need to make up their mind where they are headed in the medium term. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/former-tata-sons-chairman-cyrus-mistry-killed-in-a-road-accident/articleshow/93984352.cms">Former Tata Sons chairman Cyrus Mistry killed in a road accident</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">‘We shared a laugh last month on a park bench in London’, says former head of strategy at Tata Sons</a>

After a volatile week expect markets to remain rangebound says Arun Kejriwal

<ul><li>The canopy of tropical forests in <keyword id="6389278" type="LOCATION" weightage="20" keywordseo="munnar">Munnar</keyword> and the surrounding regions are rich with a plethora of mammals, reptiles, insects and birds.</li><li>Commonly known as the large-scaled pit viper, these beautiful snakes are listed as ‘Near Threatened’.</li><li>Gliding <keyword id="6536559" type="UNKNOWN" weightage="20" keywordseo="frogs">frogs</keyword> can jump and glide from one tree to another, if these are short distances. </li></ul>The plantation-cloaked hills of Munnar in <keyword id="28504" type="LOCATION" weightage="20" keywordseo="Kerala">Kerala</keyword> nestle within itself a variety of critters that are impressive, but unfortunately have not received the airtime they deserve. Most visit the area for its rolling hills engulfed in a sea of green, but the true magic lies hidden amidst these very greens -- the reptiles and amphibians that thrive in the area. Situated at the eastern edge of Kerala, the canopy of tropical forests in Munnar and the surrounding regions are rich with a plethora of mammals, reptiles, insects and birds -- from the elusive tiger to deer to elephants to packs of wild hogs to a massive variety of birds. However, refreshingly enough, there is a new trend among wildlife enthusiasts who are now leaning towards spotting and learning about the smaller creatures in the forest that otherwise go unnoticed. Photographer Amit Rane is one such person. He excels in a wide range of photography fields, from landscapes to portraits, but he finds macro photography supremely intriguing. For his camera lens, size and hierarchy really do not matter. <div type="image" title="Large-scaled pit viper" msid="82679367" hostid="261"></div> Reptiles Trimeresurus macrolepis Beddome (Peltopelor macrolepis) Commonly known as the large-scaled pit viper, these beautiful snakes are listed as ‘Near Threatened’ in the <a href="https://www.iucnredlist.org/species/172623/1354137">IUCN Red List</a>. Found at elevations between 610 and 2,400 metres above sea level, these snakes are endemic to India. They are found only in the <keyword id="6371307" type="UNKNOWN" weightage="20" keywordseo="western-ghats">Western Ghats</keyword> from the <keyword id="850963" type="LOCATION" weightage="20" keywordseo="Nilgiri-hills">Nilgiri Hills</keyword> to Ashambu and Agasthyamalai Hills in Kerala and <keyword id="20154" type="PERSON" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>. These nocturnal snakes are primarily found on trees and feed mainly on birds, rodents and frogs. The main threat to these species are people who kill them during encounters or get run over by vehicles while crossing roads. Amphibians Business Insider spoke to Ninad Gosavi, a member of faculty in biology at a private institute and one of the editors at <a href="https://www.indianamphibians.org/">Amphibians of India</a>, to share some insights on some of the magnificent frogs that inhabit the area. <div type="image" title="Raorchestes beddomii" msid="82679372" hostid="261"></div> Raorchestes beddomii Discovered by Günther in <a href="https://amphibiansoftheworld.amnh.org/Amphibia/Anura/Rhacophoridae/Rhacophorinae/Raorchestes/Raorchestes-beddomii">1876</a>, these <keyword id="6434613" type="PERSON" weightage="20" keywordseo="bush">bush</keyword> frogs belonging to the genus Raorchestes are small and dwell on trees and shrubs for calling during the breeding season. They originated in the Western Ghats and are distributed in Southern Western Ghats in Kerala (Athirimala and Munnar) and Tamil Nadu (Kannikatti) at elevations of 120-460 metres. <div type="image" title="Raorchestes beddomii" msid="82679378" hostid="261"></div> Males call during monsoon to attract females and to establish their territory. Females lay eggs on shrubs, trees, inside bamboo, or rock crevices on land (different species have different oviposition sites). <div type="image" title="Raorchestes beddomii" msid="82679381" hostid="261"></div> The amazing thing about bush frogs is, unlike other frogs, they complete their tadpole stage inside the egg, and froglets hatch after metamorphosis. Eggs are terrestrial, and they do not require water bodies for development but nice humid weather. <div type="image" title="Raorchestes chlorosomma" msid="82679388" hostid="261"></div> Raorchestes chlorosomma Biju and Bossuyt <a href="https://indiabiodiversity.org/species/show/279474">discovered</a> the Raorchestes chlorosomma in 2009. It is distributed in Munnar, Kerala in the southern Western Ghats. This is a critically endangered species because the habitat is degraded by tea and eucalyptus plantation. <div type="image" title="Rhacophorus malabaricus" msid="82679399" hostid="261"></div> Rhacophorus malabaricus This is a froglet of Rhacophorus malabaricus (Malabar Gliding Frog). The gliding frogs have full webbing between fingers and toes. They can jump and glide from one tree to another (short distances). These frogs build foam nests over a water body, so when tadpoles hatch from eggs, they fall in the water. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms">After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient</a> <a href="https://www.businessinsider.in/cryptocurrency/news/four-reasons-why-cryptocurrency-ethereum-has-been-on-a-bull-run/articleshow/82606761.cms">Four reasons why cryptocurrency Ethereum has been on a bull run</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-a-couple-from-chennai-has-come-up-with-this-innovation-of-a-surgical-mask-vending-machine-/articleshow/82605058.cms">Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit</a>

Up-close and not so personal with Munnar’s pit vipers, gliding frogs and more

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> &amp; Special Economic Zone Ltd. has raised Rs 900 crore through allotment of <keyword id="6355663" type="UNKNOWN" weightage="20" keywordseo="non-convertible-debentures">non-convertible debentures</keyword> (NCD) on private placement basis. In a regulatory filing issued on Friday, the company said that the <keyword id="92012" type="CITY" weightage="20" keywordseo="NCDs">NCDs</keyword> will be listed on the Wholesale Debt Market segment of BSE Ltd. "The company has raised Rs 900 crore today by allotment of 9,000 Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," the filing said. <keyword id="1697348" type="PERSON" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone">Adani Ports and Special Economic Zone</keyword> Ltd. (APSEZ) has presence across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

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After a volatile week expect markets to remain rangebound says Arun Kejriwal

IANS

Up-close and not so personal with Munnar’s pit vipers, gliding frogs and more

Kavita Majumdar

Adani Ports lands ₹900 crore through non-convertible debentures

IANS

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