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Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

<ul class="summary-list"><li>A woman who had life-changing results on a popular weight loss drug struggled to afford it for years.</li><li>She found stability with a cheaper version of the medication through the booming telehealth market.</li></ul><a target="_blank" class="" href="https://www.tiktok.com/@tacklingtara">Tara Rothenhoefer</a>, a 49-year-old Florida resident, says her life changed when she joined a clinical trial for a promising new weight-loss medication.Over the course of the 18-month trial, from 2020 to 2021, she <a target="_blank" class="" href="https://www.businessinsider.com/mounjaro-weight-loss-drug-not-easy-way-out-2023-10">lost more than 200 pounds</a> — more than a third of her body weight. Suddenly, she didn't have pervasive "<a target="_blank" class="" href="https://www.businessinsider.com/weight-loss-drug-semaglutide-helping-dispel-harmful-stereotypes-patients-say-2022-12">food noise</a>" or preoccupation with eating that had bothered her for years, allowing her to freely pursue healthy habits.Rothenhoefer had been testing a drug, sold by pharmaceutical company Eli Lilly, which later won FDA approval for weight loss in 2023 under the brand name <a target="_blank" class="" href="https://businessinsider.com/eli-lilly-mounjaro-zepbound-approved-weight-loss-stronger-than-wegovy-2023-11">Zepbound</a>. A similar version of this drug, called Mounjaro, has been available to people with type 2 diabetes since 2022.But when the trial ended, she was faced with the prospect of paying over $1,000 per month to continue this drug, or try to keep the weight off unmedicated — an incredibly tricky feat since the drug's effects are not long-lasting, as far as we know.Now, after three years of navigating a nightmarish maze of shortages and lack of insurance coverage, she finally has steady, affordable access to her medication.She's not only one.The high price of weight-loss medication has left out millions of Americans who could benefit, as highlighted in recent <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/novo-nordisk-ceo-faces-senate-questions-over-high-prices-of-ozempic-and-wegovy-in-us-1033798280">Senate Committee Hearings</a>, where Novo Nordisk's CEO faced tough questions about its versions of similar drugs, Ozempic and Wegovy.Here's how she, like many others, has found a way around the snarls of the healthcare system to stay on the drug.<h2 id="b6ae44a3-53cb-4a2c-8ff1-f68263c11f64">At first, she tried the pharma solution: coupons</h2>After the trial ended, Rothenhoefer's doctor issued her a prescription for Mounjaro but she knew she couldn't afford it with her office job.Not a problem, manufacturer Eli Lilly told her — she could get a coupon, allowing her to access the drug at a steep discount.Providing coupons is a common practice for drug makers to incentivize patients to try their product, instead of a competitor's, especially when it's a new offering in an already-hot and high-priced market.However, the coupon expired in June 2023. And all she could do was ration out her remaining doses and hope for the best."My insurance doesn't cover it. Most people can't afford it. I had no choice," she said.<h2 id="9f175e6c-deef-4bd9-8285-ccf7d1bc03be">Spreading out doses to try to make the drug last longer</h2>Rothenhoefer did what she could to make her supply of medication last, and tried to dose every 10 to 14 days instead of weekly, but the scale began creeping back up regardless of what she did."I was having a lot of fluctuations in weight even though my habits were the same," she said.Research suggests that people who lose weight on GLP-1 medications need to continue taking them or they'll <a target="_blank" class="" href="https://www.businessinsider.com/zepbound-weight-gain-stop-taking-tirzepatide-2023-12">regain the weight</a> so Rothenhoefer needed a long-term plan just to keep her weight stable."I'm in maintenance, which I'll be in for the rest of my life," she said.But she's since been able to find a steady, affordable supply, and now takes a dose of 7.5 - 10 mg of compounded tirzepatide weekly, delivered to her door, and plans to stay this course for at least the next year, if not longer.<h2 id="86a425c0-21ca-447d-a94f-5bc79360d4e5">The promise of cheaper 'compounded drugs'</h2>Rothenhoefer said she had heard about a cheaper version of the GLP-1s known as compounded tirzepatide.The active ingredient in Mounjaro and Zepbound is tirzepatide, one type of <a target="_blank" class="" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">GLP-1 drugs</a>, which mimic hormones that our bodies naturally produce to control appetite and blood sugar. (Ozempic and Wegovy contain a similar drug called <a target="_blank" class="" href="https://www.businessinsider.com/how-weight-loss-meds-injections-compare-costs-results-side-effects">semaglutide</a>.)<a target="_blank" class="" href="https://www.businessinsider.com/buy-compounded-semaglutide-online-risks-wegovy-ozempic-2023-1">Compounded medications</a> are custom formulations of drugs provide by specialized pharmacies. Since brand name GLP-1 drugs have long been in shortage, drug compounders are legally allowed to fill the gap in demand with their own versions of the same active ingredients, semaglutide or tirzepatide.While regulated, these compounded drugs aren't FDA-approved, raising concerns from doctors about variations in quality.The grey market of weight-loss drugs is vast and complicated.Some weight-loss clinics or med spas offer injections for as little as $20, with way of vetting what you're getting, and some online clinics are simply money scams, a <a target="_blank" class="" href="https://www.businessinsider.com/scientist-cheaper-ozempic-sold-online-contains-dangerous-ingredients-2024-8">recent study found</a>.Rothenhoefer contacted a telehealth company with a verified, credentialed compounding pharmacy.The price for her dose of the compounded version is $329 monthly, compared to the brand name's list price of more than $1,000 per month.Pharmaceutical companies are pushing back against their low-cost competitors in the GLP-1 market.In August, Eli Lilly halved the price of its <a target="_blank" class="" href="https://www.businessinsider.com/eli-lilly-cut-price-zepbound-tirzepatide-weight-loss-drug-copycats-2024-8">weight-loss drug Zepbound </a>through single-dose vials — a bid to lure customers back to brand-name drugs, analysts said.But Rothenhoefer said that if manufacturers want people to buy their products, prices need to keep dropping."I think everyone would be on the branded if it were accessible and affordable. But there are people out there that are alive now that might not have been or might have been in five years if they didn't get their health under control," she said of patients like her who are now using compounded medications.<h2 id="bc1e401f-b010-4062-a1c7-ffc442cacc15">A huge relief</h2>Previously, Rothenhoefer said she was constantly worried about protecting the dwindling stockpile of medication in her refrigerator.Now, with reliable access, a huge burden has been lifted, Rothenhoefer said. She is no longer fixated on rushing to get ice in a cooler for her meds as a first priority, and is free to think about everything else that matters."I don't have any fear at all anymore," she said. "My mind has been totally put at ease and I can now focus on the rest of my life."

Weight-loss drugs are life-changing — and expensive. Here's one woman's solution.

The list of major companies requiring employees to return to the office

Missing some action, adrenaline rush, and thrill in your life? Are the good old, albeit mundane money investment avenues like mutual funds and fixed deposits not making the cut for you? Want to experience a heart-pounding, financial rollercoaster that will constantly keep you and your portfolio on tenterhooks? Well then, welcome to the world of initial public offers (IPOs), especially those brought to you by SMEs, or <keyword id="6375845" type="General" weightage="20" keywordseo="Small-and-Medium-Enterprises" source="Orion">small and medium enterprises</keyword>. Truth be told, <keyword id="3704207" type="General" weightage="100" keywordseo="SME-IPOs" source="Orion">SME IPOs</keyword> have been all over the bourses this year. So far, 2024 has seen 206 SMEs debuting on both BSE and NSE, out of which 146 listed in gains and 46 listed in losses. Odds seem good, right? In contrast, the year has only seen 63 IPOs from the elder brother i.e. mainboard, only 48 of which managed to post any listing gains. And getting an allotment has also been a major uncertainty, given the unusually high demand this year. <h2>So, what's an SME <keyword id="6354763" type="General" weightage="20" keywordseo="IPO" source="Orion">IPO</keyword>, you ask?</h2>Think of a mainboard company as Shah Rukh or Salman Khan—well-established, financially stable, strong legacy of profitability, and fairly well-known. On the other hand, SMEs are your Prateek Gandhi (Harshad Mehta, Scam 1992), Siddhant Chaturvedi (MC Sher, Gully Boy) or Avinash Tiwary (Majnu, Laila Majnu). While they are doing super well, they are yet to make it big like the Khans. They’re currently underdogs, lesser known, but who knows? They can be the next big thing in the future! And SME IPOs are getting a stellar reception. In 2023, 182 such IPOs had raised a substantial Rs 4,967 crore. In 2024, more than 200 companies have already raised over Rs 7,500 crore, and we have four months to go. This, with one quarter of the year still remaining. <div type="image" title="In 2024, India leads IPO activity in the Asia-Pacific region" height="900" width="1200" msid="113875643" hostid="261" caption="&amp;lt;p&amp;gt;In 2024, India leads IPO activity in the Asia-Pacific region&amp;lt;/p&amp;gt;"></div> But what does it take for a company to be classified as a small enterprise? The company has to have an annual turnover/income of up to Rs 50 crore, and for a medium enterprise to be called so, its annual income has to be up to Rs 250 crore. When such companies go public, in a bid to raise funds from investors and expand their operations, they launch an IPO, but not on the main exchange, but separately, on NSE’s Emerge and BSE’s SME platform. As of September 2024, <keyword id="4484133" type="General" weightage="20" keywordseo="NSE-Emerge" source="Orion">NSE Emerge</keyword> has 147 listed participants, while <keyword id="1885131" type="General" weightage="20" keywordseo="BSE-SME" source="Orion">BSE SME</keyword> has 155 market makers. Mounting an SME’s IPO is comparatively less stringent than their mainboard counterparts, as far as regulations are concerned since their DRHPs (draft <keyword id="12225712" type="General" weightage="20" keywordseo="Red-herring-prospectus" source="Orion">red herring prospectus</keyword>) are not filed with SEBI. So, wouldn’t a lenient treatment make them inherently riskier? Why are they so appealing, you ask? <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> Well, for one, some of them have delivered exceptional returns—we’re talking 100%, 200%. Consider this—Owais Metal and Mineral Processing, which launched its IPO in February this year, delivered a whopping listing gain of 201%. Another SME, Maxposure, whose IPO was out in January 2024, had earned its investors listing gains worth 317.40%! Apparently, higher risks also mean higher returns, and also super high investment. Most SME IPOs need a minimum investment of Rs 1,00,000 or more, as opposed to mainboard IPOs, where you can buy one lot of shares for anywhere between Rs 14,000-15,000. Even the minimum trading lot size for SME shares is about 10,000. In short, you’d have to potentially empty your pockets to invest in an SME IPO. And still, there’s no guarantee that the listing will fill your wallets. For all you know, your pockets before and after the IPO is listed might stay the same - EMPTY! There's also the question of whether or not these SMEs are able to maintain their listing day mojo, or do they just fizzle out thereafter? Data from Prime Database highlights more instances of the latter. As of August 2024, about 166 SME IPOs had made it to the exchanges. Around 72 of them, or close to 50%, could not sustain their momentum going ahead, and were trading below their listing day prices. Consider this. The post listing gains of Medicamen Organics, whose IPO came out in June 2024, earned its investors massive listing gains of over 300%, by listing at Rs 137.85, significantly higher than its price issue price, which was set between Rs 32-34. But as of October 1, 2024, the stock was trading at Rs 64.2. Talk about falls. Additionally, risks of pump-and-dump, and illiquidity, among others makes SME IPOs dangerous See, you're largely venturing into unknown, pitch-dark territories, without much light to guide you. For starters, SME IPOs face less scrutiny from market watchdog SEBI. This also means they are able to list quickly, just 3-4 months. On the other hand, mainboard IPOs can take upto a year before they are cleared for listing. Also, there is far less information and disclosures available about their financials, fundamentals and performance to investors for making an informed decision, as compared to mainboard stocks. Then there’s the issue of illiquidity. Once purchased, you might find it hard to sell off your SME stocks, since they are not traded as frequently in the market, which means lower liquidity. Trivesh D, COO, Tradejini explains that liquidity is a major concern for such stocks. “These stocks typically have a smaller free float, and are traded in lots, which can lead to volatility and sharp price swings. This means it can be challenging for investors to buy or sell shares without significantly impacting prices. Additionally, speculative trading practices, like 'pump-and-dump' schemes, can inflate stock prices, leaving retail investors vulnerable to sudden drops”. Recently, SME IPOs have gained notoriety for price manipulation via showing fictitious sales and revenue in their books of accounts, selling of promoter holdings at inflated prices, and being the facade for many infamous <keyword id="10663340" type="General" weightage="20" keywordseo="Pump-and-Dump" source="Orion">pump and dump</keyword> schemes. This is where select people create frenzy, or mass euphoria over a particular stock or company, causing its prices to soar, and then dumping them, or selling their shares at this massive price to make a killing! Infact, it's not just the promoters, but also the investment banks floating these IPOs. At present, SEBI is investigating around 6 investment banks which have allegedly charged SMEs a staggering 15% of funds raised via IPOs as fee, as opposed to the standard 1-3%. In March 2024, SEBI chairperson Madhabi Puri Buch had also highlighted witnessing signs of manipulation in the SME space. “We do see signs of manipulation in the SME segment. We are able to see certain patterns.” Buch had observed back then. Adds Kresha Gupta, Founder &amp; Director, StepTrade Share Services, “Investing in SME IPO comes with significant risks, despite their impressive returns in recent years. Limited participation from institutional investors and public in some SME IPOs also mean that those companies may lack the support and stability that comes with larger-scale investments” “Additionally, many SMEs may not have strong fundamentals to justify their valuations. High P/E ratios can be misleading, and while some IPOs have delivered impressive returns, they often come with significant volatility, continues D of Tradejini. <h2>So, should I stay away? </h2>Yes, and No. Yes, if you don't want to do your homework of researching the company thoroughly beforehand. Anand K. Rathi, Co-Founder of MIRA Money suggests asking a couple of questions before investing your hard earned money: <ul><li>What is the company's financial performance over the past 3-4 years?</li><li>What is the company's governance structure?</li><li>Is the financial success driven by the IPO, or is it a result of consistent performance?</li><li>Does the company have what it takes to scale its operations to the next level?</li><li>Are the company’s promoters trustworthy, capable and experienced?</li><li>What is the level of participation by large, institutional investors?</li></ul> But staying away completely? Not necessary. Gupta adds that retail investors, in particular, should avoid viewing SME IPOs as quick money-makers based on their short-term performance, as this can certainly lead to poor investment decisions. “To mitigate risks, investors should always focus on long-term fundamentals rather than just short-term price movements. Key indicators include the participation of institutional investors like DIIs and FIIs. This often signals confidence in the stock”, she continues. A red flag you should look out for is if a company is only offering OFS, or Offer for Sale. This can indicate early investors looking to exit, potentially signaling weaker future growth. That's why it is better to look for companies which are raising capital for expansion purposes. This is a sign of healthy business growth prospects and improving fundamentals. In conclusion, backing the underdog, or SMEs, is not a bad proposition, but not without its risks. Investing in SME IPOs is like riding a unicorn—but you don't know whether you're riding it to rags or riches! So, take your pick.

Why investing in SME IPOs should not be on top of your adventure to-do list!

Recently, a picture of popular YouTuber, comedian and writer <keyword id="19960425" type="General" weightage="100" keywordseo="Tanmay-Bhat" source="keywords">Tanmay Bhat</keyword> went viral as it showed the dramatic <keyword id="19923802" type="General" weightage="20" keywordseo="weight-loss" source="keywords">weight loss</keyword> he seemed to have undergone. The comment section was filled with praise, with many fans asking him how he managed to shed all that weight so quickly. But the truth is, Tanmay’s journey has been far from quick. If anything, his story is a fine lesson on the importance of <keyword id="20419014" type="General" weightage="20" keywordseo="consistency" source="keywords">consistency</keyword> and finding what works for you. <div type="twitter" handle="bhav_paaji" handlename="bhav_paaji" favoritecount="0" retweetcount="0" id="1827223029924917442"></div>Losing weight — whether to get back your health on track or to achieve a glow-up — is something that tops almost everyone’s new year’s resolution list. As January rolls in, people rush to the gym in hordes to sign up for the annual memberships. By around March, they realise that maybe the gym isn’t for them since they haven’t been going regularly/are barely noticing any changes in their body. Tanmay was no exception and experienced the same thing when he restarted his <keyword id="20239882" type="General" weightage="20" keywordseo="fitness-journey" source="keywords">fitness journey</keyword> back in 2022, he revealed during his appearance on <keyword id="22912153" type="General" weightage="20" keywordseo="kumar-varun" source="keywords">Kumar Varun</keyword>’s <a href="https://www.youtube.com/watch?v=U-SRF0zClvM">Random Musings</a> late in 2023. So, how did he overcome this slump? <h2>What did Tanmay do differently? </h2>Fat loss can often seem daunting, especially when juggling a busy schedule, high stress, and social pressures. Like many of us, Tanmay tried various diet trends, tried eating healthy and even joined the gym. But around three months into it, the YouTuber decided that he simply did not like lifting weights. Instead, he would do some sort of physical activity that he could actually enjoy while ensuring that it kept him moving. Using Playo, he booked a badminton court for every evening and began to consistently play for an hour. He found that he was enjoying himself and this gave him the motivation to do more. <h2>The art of habit-stacking</h2>Once Tanmay had mastered playing an hour of the sport he liked, he leaned into something called “habit stacking”, a term author James Clear coined in his bestselling book <keyword id="20250903" type="General" weightage="20" keywordseo="atomic-habits" source="keywords">Atomic Habits</keyword>. This technique involves attaching a new habit to one you already engage with on the regular, essentially taking advantage of the parts of your lives that are already reliable. What Tanmay did was that he set aside another hour to lift weights either before or after badminton — stacking this new habit over his already existing one. He spoke of how this made being regular to the gym more achievable to him. <div type="Article" hostid="261" msid="112608740" title="A man who lost 100 pounds while enjoying his favorite foods shared his 3 key weight loss tips" mstype="2" mssubtype="0"></div> <h2>Setting aside “me” time</h2>One hurdle that keeps a lot of us from working out consistently is the lack of time. We end up prioritising everything but our physical well being, resulting in the “I don’t have time” excuse. So how did Tanmay circumvent this? Speaking to Kumar Varun, the 37-year-old YouTuber said that he started prioritising his health over everything else. Now, Tanmay devotes the time between 5 PM-7:30 PM to his workouts every day and refuses to attend to anything else in that time frame. He has managed to structure his day in a way where he can afford that time to himself. While this may not be possible for everyone, finding even a tiny time slot that works for you and taking it from there might be a good place to start. <div type="Article" hostid="261" msid="112745341" title="A 56-year-old woman lost weight and balanced her blood sugar with 5 simple changes" mstype="2" mssubtype="0"></div> <h2>Reducing friction between yourself and the habit you’re building</h2>Tanmay emphasised on the importance of limiting the resistance between your thoughts and the actions. He suggested that if you want to go for a jog every morning, then keep your running shoes right under your bed — so it’s the first thing you see every morning. Most notably, he stressed that the decision to be healthy is hourly. You must make conscious choices that support your goal at least every hour of the day, say no to temptation and yes to what’s good for you. This may sound like it’s easier said than done, Tanmay asserts that it is the way to master your mind. Today, Tanmay Bhat has already lost around 50 kilograms and is showing no signs of slowing down. While it is certainly inspiring, we can benefit from the example Tanmay sets. His fitness journey also serves to show the difference small, consistent habits that accumulate over time can make. And as he explains in his own non-preachy way — all you need to do is focus on building resiliency, mastering your mindset and establishing healthy frameworks. <div type="Article" hostid="261" msid="112368138" title="A diet of soups and shakes can drastically improve diabetes symptoms — even without medication, real-life study finds" mstype="2" mssubtype="0"></div>

Tanmay Bhat actually made weight loss sound doable — here’s how!

To gain something, <keyword id="20430890" type="General" weightage="20" keywordseo="Aman-Sehrawat" source="keywords">Aman Sehrawat</keyword> firstly needed to lose something. When the scales of the weighing machine showed 61.5 kg on Thursday after his semi-final defeat to eventual champion Rei Higuchi, Aman had a bigger job at hand before taking the mat for the <keyword id="20257145" type="General" weightage="20" keywordseo="bronze-medal" source="keywords">bronze medal</keyword> play-off. India's youngest <keyword id="19986816" type="General" weightage="20" keywordseo="Olympic" source="keywords">Olympic</keyword> bronze medal winning grappler had to shed 4.5 kilograms of bodyweight in a stipulated time of 10 hours before mandatory second day weigh-in to qualify for the 57 kg bout. By the time Aman was up on the weighing machine on second morning, he along with his coaches Jagmander Singh and Virender Dahiya had accomplished the mission -- reduced 4.6 kgs to be eligible for the fight at 56.9 kg. It was case being exactly 100 gram less than critical limit. If 100 gram became tragedy for Vinesh Phogat, it was a case of relief for Aman. On Thursday, Aman had lost his semifinal bout against Japan's Rei Higuchi around 6:30 pm. There was no time to waste. The 'mission' began with a one-and-a-half-hour mat session during which the two senior coaches engaged him in standing <keyword id="19908341" type="General" weightage="20" keywordseo="wrestling" source="keywords">wrestling</keyword> and it was followed by a one-hour hot-bath session. At 12:30 they hit the gym, where Aman had a non-stop one-hour run on the treadmill. The sweating would help in cutting weight. He was then given a 30-minute break, followed by five sessions of 5-minute sauna bath. By the end of the last session, Aman was still weighing 900g more. He was given a massage and then the coaches asked the Chhtrasal trainee to do light jogging. It was followed by five 15-minute running sessions. By 4:30am, Aman was weighing 56.9kg -- 100g less. The coaches and the wrestler heaved a sigh of relief. In between these sessions, Aman was given lukewarm water with lemon and honey and a bit of coffee to drink. Aman would not sleep after that. "I watched videos of wrestling bouts, the whole night." "We kept checking his weight every hour. We didn't sleep the whole night, not even during the day," said coach Dahiya. "Weight cutting is routine, normal for us but there was tension, a lot of tension due to what happened the other day (with Vinesh). We could not let slip another medal," said Dahiya. All the hard work came to a fruition when Aman won the bronze medal, beating Puerto Rico's Darian Cruz on Friday to become India's youngest ever Olympic medallist. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Sparring, treadmill run, 5 sessions of Sauna: How Sehrawat lost 4.6 kg in 10 hours

<div type="image" title="In 2024, India has seen around $12.2 billion worth of IPOs, including mainboard and SMEs" msid="113878163" hostid="261" sizebytes="45300" caption="&amp;lt;p&amp;gt;In 2024, India has seen around $12.2 billion worth of IPOs, including mainboard and SMEs&amp;lt;/p&amp;gt;"></div> Missing some action, adrenaline rush, and thrill in your life? Are the good old, albeit mundane money investment avenues like mutual funds and fixed deposits not making the cut for you? Want to experience a heart-pounding, financial rollercoaster that will constantly keep you and your portfolio on tenterhooks? Well then, welcome to the world of initial public offers (IPOs), especially those brought to you by SMEs, or <keyword id="6375845" type="General" weightage="20" keywordseo="Small-and-Medium-Enterprises" source="Orion">small and medium enterprises</keyword>. Truth be told, <keyword id="19938687" type="General" weightage="20" keywordseo="sme" source="keywords">SME</keyword> IPOs have been all over the bourses this year. So far, 2024 has seen 206 SMEs debuting on both BSE and NSE, out of which 146 listed in gains and 46 listed in losses. Odds seem good, right? In contrast, the year has only seen 63 IPOs from the elder brother i.e. mainboard, only 48 of which managed to post any listing gains. And getting an allotment has also been a major uncertainty, given the unusually high demand this year. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">So, what's an <keyword id="5559702" type="General" weightage="100" keywordseo="SME-IPO" source="Orion">SME IPO</keyword>, you ask?</h2>Think of a mainboard company as Shah Rukh or Salman Khan—well-established, financially stable, strong legacy of profitability, and fairly well-known. On the other hand, SMEs are your Prateek Gandhi (Harshad Mehta, Scam 1992), Siddhant Chaturvedi (MC Sher, Gully Boy) or Avinash Tiwary (Majnu, Laila Majnu). While they are doing super well, they are yet to make it big like the Khans. They’re currently underdogs, lesser known, but who knows? They can be the next big thing in the future! And SME IPOs are getting a stellar reception. In 2023, 182 such IPOs had raised a substantial Rs 4,967 crore. In 2024, more than 200 companies have already raised over Rs 7,500 crore, and we have four months to go. This, with one quarter of the year still remaining. <div type="image" title="In 2024, India leads IPO activity in the Asia-Pacific region" height="900" width="1200" msid="113875643" hostid="261" caption="&amp;lt;p&amp;gt;In 2024, India leads IPO activity in the Asia-Pacific region&amp;lt;/p&amp;gt;"></div> But what does it take for a company to be classified as a small enterprise? The company has to have an annual turnover/income of up to Rs 50 crore, and for a medium enterprise to be called so, its annual income has to be up to Rs 250 crore. When such companies go public, in a bid to raise funds from investors and expand their operations, they launch an <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>, but not on the main exchange, but separately, on NSE’s Emerge and BSE’s SME platform. As of September 2024, <keyword id="4484133" type="General" weightage="20" keywordseo="NSE-Emerge" source="Orion">NSE Emerge</keyword> has 147 listed participants, while <keyword id="1885131" type="General" weightage="20" keywordseo="BSE-SME" source="Orion">BSE SME</keyword> has 155 market makers. Mounting an SME’s IPO is comparatively less stringent than their mainboard counterparts, as far as regulations are concerned since their DRHPs (draft red herring prospectus) are not filed with SEBI. So, wouldn’t a lenient treatment make them inherently riskier? Why are they so appealing, you ask? <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> Well, for one, some of them have delivered exceptional returns—we’re talking 100%, 200%. Consider this—Owais Metal and Mineral Processing, which launched its IPO in February this year, delivered a whopping listing gain of 201%. Another SME, Maxposure, whose IPO was out in January 2024, had earned its investors listing gains worth 317.40%! Apparently, higher risks also mean higher returns, and also super high investment. Most SME IPOs need a minimum investment of Rs 1,00,000 or more, as opposed to mainboard IPOs, where you can buy one lot of shares for anywhere between Rs 14,000-15,000. Even the minimum trading lot size for SME shares is about 10,000. In short, you’d have to potentially empty your pockets to invest in an SME IPO. And still, there’s no guarantee that the listing will fill your wallets. For all you know, your pockets before and after the IPO is listed might stay the same - EMPTY! There's also the question of whether or not these SMEs are able to maintain their listing day mojo, or do they just fizzle out thereafter? Data from Prime Database highlights more instances of the latter. As of August 2024, about 166 SME IPOs had made it to the exchanges. Around 72 of them, or close to 50%, could not sustain their momentum going ahead, and were trading below their listing day prices. Consider this. The post listing gains of Medicamen Organics, whose IPO came out in June 2024, earned its investors massive listing gains of over 300%, by listing at Rs 137.85, significantly higher than its price issue price, which was set between Rs 32-34. But as of October 1, 2024, the stock was trading at Rs 64.2. Talk about falls. Additionally, risks of pump-and-dump, and illiquidity, among others makes SME IPOs dangerous See, you're largely venturing into unknown, pitch-dark territories, without much light to guide you. For starters, SME IPOs face less scrutiny from market watchdog SEBI. This also means they are able to list quickly, just 3-4 months. On the other hand, mainboard IPOs can take upto a year before they are cleared for listing. Also, there is far less information and disclosures available about their financials, fundamentals and performance to investors for making an informed decision, as compared to mainboard stocks. Then there’s the issue of illiquidity. Once purchased, you might find it hard to sell off your SME stocks, since they are not traded as frequently in the market, which means lower liquidity. Trivesh D, COO, Tradejini explains that liquidity is a major concern for such stocks. “These stocks typically have a smaller free float, and are traded in lots, which can lead to volatility and sharp price swings. This means it can be challenging for investors to buy or sell shares without significantly impacting prices. Additionally, speculative trading practices, like 'pump-and-dump' schemes, can inflate stock prices, leaving retail investors vulnerable to sudden drops”. Recently, SME IPOs have gained notoriety for price manipulation via showing fictitious sales and revenue in their books of accounts, selling of promoter holdings at inflated prices, and being the facade for many infamous pump and dump schemes. This is where select people create frenzy, or mass euphoria over a particular stock or company, causing its prices to soar, and then dumping them, or selling their shares at this massive price to make a killing! Infact, it's not just the promoters, but also the investment banks floating these IPOs. At present, SEBI is investigating around 6 investment banks which have allegedly charged SMEs a staggering 15% of funds raised via IPOs as fee, as opposed to the standard 1-3%. In March 2024, SEBI chairperson Madhabi Puri Buch had also highlighted witnessing signs of manipulation in the SME space. “We do see signs of manipulation in the SME segment. We are able to see certain patterns.” Buch had observed back then. Adds Kresha Gupta, Founder &amp; Director, StepTrade Share Services, “Investing in SME IPO comes with significant risks, despite their impressive returns in recent years. Limited participation from institutional investors and public in some SME IPOs also mean that those companies may lack the support and stability that comes with larger-scale investments” “Additionally, many SMEs may not have strong fundamentals to justify their valuations. High P/E ratios can be misleading, and while some IPOs have delivered impressive returns, they often come with significant volatility, continues D of Tradejini. <h2 style="box-sizing: border-box; border: 0px; outline: 0px; padding: 0px; margin: 0px 0px 0.7em; font-family: &quot;Open Sans&quot;, sans-serif; font-weight: 700; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; list-style: none; background: 0px 0px; text-rendering: optimizelegibility; text-transform: none; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">So, should I stay away?</h2>Yes, and No. Yes, if you don't want to do your homework of researching the company thoroughly beforehand. Anand K. Rathi, Co-Founder of MIRA Money suggests asking a couple of questions before investing your hard earned money: <ul><li>What is the company's financial performance over the past 3-4 years?</li><li>What is the company's governance structure?</li><li>Is the financial success driven by the IPO, or is it a result of consistent performance?</li><li>Does the company have what it takes to scale its operations to the next level?</li><li>Are the company’s promoters trustworthy, capable and experienced?</li><li>What is the level of participation by large, institutional investors?</li></ul> But staying away completely? Not necessary. Gupta adds that retail investors, in particular, should avoid viewing SME IPOs as quick money-makers based on their short-term performance, as this can certainly lead to poor investment decisions. “To mitigate risks, investors should always focus on long-term fundamentals rather than just short-term price movements. Key indicators include the participation of institutional investors like DIIs and FIIs. This often signals confidence in the stock”, she continues. A red flag you should look out for is if a company is only offering OFS, or Offer for Sale. This can indicate early investors looking to exit, potentially signaling weaker future growth. That's why it is better to look for companies which are raising capital for expansion purposes. This is a sign of healthy business growth prospects and improving fundamentals. In conclusion, backing the underdog, or SMEs, is not a bad proposition, but not without its risks. Investing in SME IPOs is like riding a unicorn—but you don't know whether you're riding it to rags or riches! So, take your pick.

SIMPLY PUT: Why investing in SME IPOs should not be on top of your adventure to-do list!

<ul class="summary-list"><li>Nestlé is launching a new line of frozen foods for weight loss.</li><li>The meals are designed for people on GLP-1 drugs like Ozempic, who don't have much of an appetite.</li></ul>The world's biggest food company is going small today.Nestlé is launching new frozen meals designed for busy Americans who just aren't that hungry anymore — or who may be interested in losing some weight via portion control.Nestlé's newest product line "Vital Pursuit" is a slate of low-calorie, <a target="_blank" href="https://www.businessinsider.com/high-protein-meal-plan-weight-fat-loss-nutritionist-2024-2">high-protein meals</a> that are designed to be relatively cheap and easy on-the-go foods for people on drugs like Ozempic, Wegovy, Mounjaro, and Zepbound.<div type="image" title="vital pursuit meals" height="1080" width="1920" msid="113461754" hostid="261" sizebytes="152196"></div>The meals cost less than $5 and are available at retailers including Target and Walmart, starting Wednesday, according to the company. They don't explicitly say it on the box, but Nestlé told Business Insider these new products were designed for the rising number of people on <a target="_blank" class="" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">GLP-1 weight-loss drugs</a>, who typically consume around 1,200 to 1,800 calories per day.Many GLP-1 users suddenly discover they don't have as much "food noise" or constant thoughts about eating anymore. They also may feel full very quickly, and experience slower digestion than others. These small meals, branded as protein-rich, are designed to help GLP-1 users lose more fat, and less muscle.Kristen Stoehr, a registered dietician and the Vital Pursuit brand manager at Nestlé, says you don't have to be a GLP-1 user to eat these foods. After all, only about 6% of Americans are actually on a GLP-1 drug right now, according to data from the health policy research firm <a target="_blank" href="https://www.kff.org/health-costs/poll-finding/kff-health-tracking-poll-may-2024-the-publics-use-and-views-of-glp-1-drugs/">KFF</a>."We want to be a brand for those 82% of Americans who are managing their weight," Stoehr told Business Insider, referencing a Morgan Stanley report.I tried two of the new meals before their release on Wednesday, and though I was skeptical, I have to say they tasted better than I expected.And they were clearly designed to keep me full for a while.The last time Nestlé brought new processed foods to the frozen aisle was about four years ago, when <a target="_blank" href="https://www.businessinsider.com/how-to-keto-what-is-ketosis-keto-diet-explained-2018-8">keto diets</a> and plant-based meals were trending, Stoehr said. The new meals are leaning into some fresher, newer nutrition trends — they're high protein, with many <a target="_blank" href="https://www.businessinsider.com/gluten-free-diet-unhealthy-most-people-without-celiac-disease-2017-10">gluten-free</a> options, and a decent amount of fiber in each box."We're just always tweaking our lineup to make sure we're relevant for today's consumer," she said.Registered dietician Alix Turoff and nutrition coach Mike Molloy, both independent nutrition experts who don't work at Nestlé, took a look at the nutrition facts and components in the meals for Business Insider. Their reviews, like my taste test, were relatively positive, but not glowing.<h2 id="d53e8495-0b13-4acf-91a0-35a77cbeb699">A 380-calorie mini pizza with 26% of the daily protein recommendation</h2><div type="image" title="cooked pizza" height="1575" width="2100" msid="113461758" hostid="261" sizebytes="207202"></div>For a frozen pizza the flavor on this little item was decent, with a nice tangy sauce. While gluten-free, cauliflower crusts tend to be more chewy or crumbly, this had a crunchy crust. It wasn't on par with actual pizza, but it was just as good as any other microwaveable option I've had. The pepperoni was my least favorite part. It tasted rubbery, thick, and didn't have much flavor. It could never compete with the perfectly greasy, crunchy, spicy cup pepperoni on most New York pizza pies.Turoff says this meal is a bit high in saturated fat for her liking (7 grams, 35% DV) but she was more concerned about the sodium content (930mg, 40% DV) — often a concern in <a target="_blank" href="https://www.businessinsider.com/scientists-making-ultra-processed-foods-healthier-in-major-new-study-2024-6">ultra-processed convenience meals</a>. She said that the meal could use a little more fiber, so she would recommend eating it with some veggies or a side salad. The protein dose, at 22 grams, is "solid" but not high, she said."For someone trying to lose weight without GLP-1's, I'd actually recommend aiming for more like 30+ grams of protein per meal for satiety purposes," she told BI in an email. Though it isn't the most nutritious, wholesome meal in the world, Turoff said it was important to consider what it might actually be replacing in someone's diet."They're likely trying to make a healthier choice within the realm of convenience foods," she said. "At the end of the day, a meal like this can be a practical, balanced option for someone trying to manage their weight or make healthier choices compared to what they might otherwise grab on a busy day."Malloy said people should practice the 80/20 rule here: if they're getting 80% of their diet from whole, fresh foods like whole grains, veggies, and protein sources including eggs, seafood, and chicken, then he's OK with the extra 20% of their diet being things like these ultra-processed meals.I had my pizza for lunch and was satisfied until after dinnertime, without snacks.<h2 id="0b7dc2d8-2f0e-412a-889c-43349ba6e59c">A 340-calorie grilled chicken bowl with 22 grams of protein was an OK desk lunch</h2><div type="image" title="chicken in microwave" height="2800" width="2100" msid="113461760" hostid="261" sizebytes="194742"></div>The garlic herb grilled chicken bowl wasn't half bad either, though it did leave me a bit hungrier than the pizza. I liked the herby and just slightly creamy flavor, which after a quick glance at the ingredient panel I chalked up to the presence of some Parmesan cheese, basil, garlic, lemon juice, and feta.The sauce wasn't heavy, and paired well with the coin-sized pieces of chicken (small!), brown rice, carrots, and broccoli. Turoff was more impressed with the ingredient list here, and said the sodium (640mg, 28% DV) and vitamin A (70% DV) stats were better than the pizza.Both independent nutrition professionals we spoke to for this story said there are plenty of other options out there for weight loss and portion control. It's not like Nestlé suddenly reinvented the convenience food."These meals seem like a decent option... but not a great one," Malloy wrote in an email to Business Insider. He said the focus on upping protein is important for people on GLP-1 drugs."That is one thing I think is contributing to the excessive muscle mass loss that people are experiencing," he said. "If this helps them to get more protein overall, that's a win in my book."Turoff was also sensitive to the fact that people on GLP-1s may not have much of an appetite, and as a result, they may not be motivated to cook or prepare their own food at home."This is where convenient, portion-controlled frozen meals like these can be really helpful," she said. "These products can serve as a useful tool for those who may not yet feel comfortable in the kitchen or who struggle to maintain a consistent routine of preparing balanced meals. For someone on GLP-1 medications, who might be overwhelmed by appetite changes or simply trying to adjust to their new eating patterns, having a frozen meal that is quick and easy to prepare can reduce decision fatigue."<div type="image" title="cooked chicken" height="2800" width="2100" msid="113461759" hostid="261" sizebytes="499046"></div>While I'm not the target audience for these meals, I was happy to have this chicken and rice on hand during a busy day at the office, and ready in under five minutes.<h2 id="665e06c1-bdc0-4601-b2de-6d1ddcc1375e">Nestlé is bracing for a drop in appetite for fast-food</h2>This is not Nestlé's first foray into the growing business of catering to GLP-1 users across the US. For several months now, the <a target="_blank" href="https://www.nestle.com/media/news/health-science-glp-1-nutrition-support-platform">company has been selling</a> protein powders, shakes, supplements, electrolytes and other nutrition products geared towards GLP-1 weight loss on a dedicated website.On a call with BI, Nestlé's senior manager for health and wellness, Marlene Schmidt, cited Morgan Stanley's recent <a target="_blank" href="https://www.morganstanley.com/ideas/obesity-drugs-food-industry">report</a> predicting that by 2035, roughly 7% of the US population will be on a weight loss drug.In that same report, Morgan Stanley said that consumption of sodas, baked goods, and salty snacks "may fall up to 3% by 2035."Clearly, the biggest food giant in the world wants to make sure it's ready for that consumer shift.

I tried Nestlé's new weight-loss meals, and felt full for hours — but nutritionists have mixed reviews

<ul class="summary-list"><li>Erin Wright says she was shocked to discover she had been barred from flying American Airlines.</li><li>The airline said she drunkenly "engaged in sexual activity" with a man on a previous flight.</li></ul>Erin Wright was growing anxious.As she tried to check in for her American Airlines flight to her sister's bachelorette party, she kept getting an error message, both on her phone and at a kiosk at the airport. She didn't have any problems when she booked the ticket, so she assumed it was a system error and went to the airline's desk to ask for help."I've flown American a ton," Wright, a 24-year-old whitewater rafting guide based in New Mexico, told Business Insider.The agents made a phone call to fix the check-in issue, but when they hung up, they told Wright they couldn't check her in because American Airlines had barred her from flying on its airline."I was really confused and then obviously started to tear up a little bit," Wright said.She asked the desk agents to tell her why she had been barred from flying on the airline, but they said they could not. The desk agents also said the staffer on the phone told them it was "an issue of internal security" but that Wright should have been aware of why she was banned."I was like, 'Well, I don't, so what do I do?'" Wright said. The agents told her to email the customer relations department. She did that after booking a last-minute flight on a different airline to make it to her sister's bachelorette party on time. She said it cost nearly double the $471.95 flight she booked on American Airlines.Business Insider has viewed all of Wright's emails with the airline. American Airlines did not respond to multiple requests for comment.<h2 id="65506ea2-1fd3-44fe-9f88-ad84b52e706f">Ban or spam?</h2>During the ordeal at the airport, Wright recalled an email she had received in April that she had dismissed as spam at the time."I got this email from American, but it was from some really random email. It had numbers and letters — a very long, strange email and didn't have any contact information or anything in the email either — saying that I was banned," Wright said. "I hadn't done anything. I was like, 'This is just a phishing email.'"Business Insider has seen the email, which contained the subject line "Permanent Loss of Flight Privileges," alerting Wright that she had "violated the passenger code of conduct" during a previous American Airlines flight. The email address included a string of numbers and letters, and the email itself did not list a specific allegation.In the weeks after she was turned away at the airport check-in counter, Wright sent multiple emails to American Airlines, including one threatening legal action.When she didn't get responses, she cold-emailed top executives at the company, including CEO Robert Isom, on a Friday afternoon in July.The next day, she received a refund of $471.95 to cover the original flight cost.By Monday morning, she received an email from a customer relations employee, who told her that she and a male passenger were "placed on the permanent Internal Refuse List after multiple eye-witness reports of the passengers being intoxicated and engaging in sexual activity" during a flight in February.Wright confirmed she was on a flight in February, but there's one glaring problem with the airline's allegation: Wright is a lesbian."I was like, 'Well, I definitely didn't do that, so can we find a way to get this cleared up?'" Wright said. "It's really hard to prove that it wasn't me if they think it was, so I just had to try to be as diligent as I could."<h2 id="f4511349-1ded-41a3-997d-e93b977f6f44">Wright's appeal to the airline</h2>Emails Wright shared with Business Insider show she was placed on American Airlines' "internal refuse list," which the airline can add passengers to at will. It is distinct from the Transportation Security Administration's <a target="_blank" class="" href="https://www.tsa.gov/travel/security-screening/travel-redress-program#:~:text=The%20No%20Fly%20List%20is,the%20FBI's%20Terrorist%20Screening%20Center.">"No Fly List,"</a> which is a list of known or suspected terrorists maintained by the US government.Like all airlines, American Airlines has a <a target="_blank" class="" href="https://www.aa.com/i18n/customer-service/support/conditions-of-carriage.jsp?anchorEvent=false&amp;from=comp_footer">"Conditions of Carriage"</a> contract that passengers agree to abide by when they purchase a ticket. Among the requirements are that passengers "behave appropriately and respectfully with other passengers" and do not "appear intoxicated or under the influence of drugs.""We may not let you fly (temporarily or permanently) for any reason," the airline warns, especially if customers refuse to obey the law or the flight crew.During and following the COVID-19 pandemic, incidents of <a target="_blank" class="" href="https://www.businessinsider.com/american-airlines-ceo-unruly-behaviour-assault-flight-attendant-broken-bones-2021-10">violence toward crewmembers</a> and <a target="_blank" class="" href="https://www.businessinsider.com/unruly-flyers-fined-covid-19-pandemic-airlines-travel-2024-9">"unruly passengers" skyrocketed</a> far above pre-pandemic levels. Airlines also <a target="_blank" class="" href="https://www.businessinsider.com/number-of-people-banned-by-us-airlines-not-wearing-mask-2021-1">banned thousands of passengers for not wearing masks</a>, though many of those passengers <a target="_blank" class="" href="https://www.businessinsider.com/why-airline-passengers-banned-for-masks-are-allowed-back-on-planes-2022-4">regained their flight privileges</a> with airlines once the mask mandate was lifted.Because Wright was so sure she didn't do what she was accused of, she said she was even more committed to getting herself off of the airline's "refuse" list. She pulled out all the stops."In my email to them, I was literally like, 'I am a 24-year-old lesbian," Wright said. "I would never have sexual relations with anybody on a plane, but definitely not a man.'"Business Insider has seen the emailed appeal to American Airlines in which Wright said she has "never been intoxicated on a flight" and is not acquainted with the man the airline accused her of "engaging in sexual activity" with. She said the situation "is definitely a mix-up with another passenger.""I could have many people write letters on my behalf confirming that I would never engage in such activities. American Airlines has either mixed me up with another Erin Wright or confused me for another passenger," she wrote.In the end, it worked."I finally got a call from corporate security saying, 'We haven't figured out what happened, but we feel like you've been diligent enough in your communication with us and genuine enough that we're going to take you off the no-fly list until we do figure out what happened. And if it was you, we'll put you back on it, but if not, you're not going to hear from us anymore,'" Wright recalled.Her story went viral when she shared it on TikTok, and many viewers tagged American Airlines, which only compensated her for the June flight."They never offered anything," Wright said. "In one of my emails, I said, 'I expect to be compensated for the extra flight I had to book and for the inconvenience that this was."The company did not reimburse her further for her trouble.

A woman says she was wrongfully put on American Airlines' no-fly list. She cold-emailed the CEO to resolve it.

<keyword id="20104772" type="General" weightage="20" keywordseo="Hyundai-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors" meta.hostid="261" meta.entityid="Hyundai Motors">Hyundai Motors</keyword> India's IPO worth Rs 27,870 crore, the largest India has ever seen, got off to an unhurried start today, with 18% of the total offer subscribed on the first day. The IPO, which closes on October 17, has already attracted significant attention from retail and institutional investors. The issue was subscribed 0.27x in the retail category, 0.05x in the QIB (qualified institutional buyers) category and 0.13x in the NII (non institutional investors) category. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> placed bids for 1.3 crore shares, as against the 4.94 crore shares which were offered to them. In contrast, Hyundai employees showed strong support for the IPO, bidding for 6,28,509 shares, as against the 7,78,400 shares allocated to them. Just a day before, Hyundai had raised Rs 8,315.3 crore from about 225 <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>. The list included several marquee global names, like the <keyword id="22882636" type="General" weightage="20" keywordseo="Government-of-Singapore" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of Singapore" meta.hostid="261" meta.entityid="Government of Singapore">Government of Singapore</keyword>, New World Fund Inc, and the Canada Pension Plan Investment Board. These institutions, along with Fidelity, Government Pension Fund Global, and American Funds Insurance Series New World Fund, invested a combined Rs 2,191.66 crore in the company. Other notable participants in the anchor round included Vanguard, Blackrock, Goldman Sachs and JP Morgan. Hyundai Motor India allocated 4.2 crore equity shares to these anchor investors at Rs 1,960 per share. Also, 34.42% of the entire allocation to anchor investors went to 21 domestic mutual funds via 83 schemes. AMCs (asset management companies) like ICICI, Invesco, Kotak and UTI were part of this round. While the current IPO is entirely OFS (offer for sale), which means that no part of the proceeds will go to Hyundai Motor India, the company has announced that it plans to invest more than Rs 33,000 crore over the next 10 years in India. The country is an important market for the South Korean automobile giant, given that it is the 2nd largest OEM (original equipment manufacturer) in the passenger vehicle space in India. However, the market is already preparing for muted listing day gains, with the company's GMP dropping to Rs 59 today. Hyundai is estimated to list at Rs 2,019 per today's GMP, taking the expected gain/loss per share to a minuscule 3.01%, as per data from IPO site Chittorgarh.

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

<ul class="summary-list"><li>Baltimore, Boston, Honolulu, and other union hotel workers part of UNITE HERE are on strike.</li><li>A tracker updated Monday shows over 10,000 workers, such as some Hilton workers, are on strike.</li></ul>Over 10,000 hotel workers who are part of UNITE HERE — a union that includes people working for hotels, transportation, and several other industries — are on a multiday strike.A <a target="_blank" class="" href="https://unitehere.org/press-releases/huge-historic-strikes-possible-at-hilton-hyatt-marriott-and-omni-hotels-after-workers-across-u-s-vote-overwhelming-to-strike/">press release from UNITE HERE</a> before the strikes started said that workers in 12 US cities "have authorized strikes at Hilton, Hyatt, Marriott, and Omni hotel properties that are locked in unresolved contract negotiations."Workers in nine of the 12 cities are on strike, with all but one starting on Sunday. A tracker from UNITE HERE updated Monday morning showed 5,000 UNITE HERE members in Honolulu, almost 2,100 in San Francisco, and over 900 in Boston were on strike."We wouldn't have a day to rest, relax, and enjoy the fruits of the labor movement if our union predecessors hadn't stood up to fight for them — but that fight's not over," Gwen Mills, UNITE HERE's international president, said in a statement. "This year, hotel workers across the U.S. are celebrating Labor Day by fighting for raises, fair workloads, and the reversal of COVID-era service and staffing cuts."Bureau of Labor Statistics data showed the leisure and hospitality industry took far longer than the overall US labor market to surpass its employment seen in February 2020, after the US saw major job losses during the pandemic.<a target="_blank" class="" href="https://fred.stlouisfed.org/series/USLAH">Job gains</a> have been pretty low in <a target="_blank" class="" href="https://www.businessinsider.com/hiring-jobs-restaurants-hotels-leisure-hospitality-healthcare-government-2024-7">leisure and hospitality</a>, and the industry saw small employment declines in January and April. Still, the overall <a target="_blank" class="" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">labor market has been cooler</a>, and it might be more <a target="_blank" class="" href="https://www.businessinsider.com/why-youre-not-getting-hired-job-interview-resume-advice-tips-2024-8">difficult to get a job now than a few years ago</a>.Mills said the workers are on strike because "the hotel industry has gotten off track.""During COVID, everyone suffered, but now the hotel industry is making record profits while workers and guests are left behind," Mills said. "Too many hotels still haven't restored standard services that guests deserve, like automatic daily housekeeping and room service."Mills noted how what the hospitality workers are making affects workers' expenses and their households."Workers aren't making enough to support their families," Mills said. "Many can no longer afford to live in the cities that they welcome guests to, and painful workloads are breaking their bodies. We won't accept a 'new normal' where hotel companies profit by cutting their offerings to guests and abandoning their commitments to workers."The hotel tracker from the union shows workers on strike are from Fairmont Copley Plaza in Boston or different Hyatt, Marriott, and Hilton places. This includes workers from seven hotels in Honolulu, four in Boston, and five in San Francisco. Overall, the workers make up 25 hotels."Our colleagues are the heart of our business, and Hyatt has a long history of cooperation with the unions that represent our employees, including UNITE HERE," Michael D'Angelo, Hyatt's head of labor relations for the Americas, said in a statement. "We are disappointed that UNITE HERE has chosen to strike while Hyatt remains willing to continue bargaining in good faith."We have a history of offering competitive wages and benefits in each market, including comprehensive health care at little to no cost, as well as retirement savings," D'Angelo added. "We have offered competitive wages, health care and retirement benefits at the hotels that are on strike at this time, and colleague benefits and wages remain unchanged as we negotiate a new agreement. We look forward to continuing to negotiate fair contracts and recognize the contributions of Hyatt employees."According to UNITE HERE's tracker, workers on strike are from four Hyatt locations."Hyatt hotels have contingency plans in place to minimize impact on hotel operations related to strike activity," D'Angelo said.Workers from several different Hilton locations, such as workers from a San Diego location, are on strike."Hilton makes every effort to maintain a cooperative and productive relationship with the unions that represent some of our Team Members, and we remain committed to negotiating in good faith to reach fair and reasonable agreements that are beneficial to both our valued Team Members and to our hotels," a Hilton spokesperson said. "We are also fully committed to providing guests with our signature hospitality and our hotels have contingency plans in place to ensure operations continue to run as smoothly as possible."Strike dates include September 1 to September 3, except for Seattle and San Diego, which have strike dates listed as September 1 to September 2, and Baltimore, where workers started going on strike on Monday. 200 UNITE HERE members are on strike in Baltimore, working for Hilton Baltimore Inner Harbor."Strikes have also been authorized and could begin at any time in New Haven, Oakland, and Providence," a <a target="_blank" class="" href="https://unitehere.org/press-releases/10k-hotel-workers-strike-on-labor-day-baltimore-workers-begin-strike/">September 2 press release from UNITE HERE</a> said.Marriott and Fairmont Copley Plaza didn't immediately respond to Business Insider's request for comment.

Thousands of hotel workers are on strike over Labor Day Weekend

<ul class="summary-list"><li><keyword id="19912297" type="General" weightage="100" keywordseo="Nvidia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nvidia" meta.hostid="261" meta.entityid="Nvidia">Nvidia</keyword>'s stock fell 9.5% due to concerns about AI and the <keyword id="20335130" type="General" weightage="20" keywordseo="US-economy" source="keywords">US economy</keyword>.</li><li>Investors are worried about economic indicators and potential recession signals from the Fed.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-earnings-ai-hype-investors-returns-jensen-huang-big-tech-2024-8">Nvidia</a> has taken two major hits in the last four working days. First, investors punished the company for <a href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8" target="_blank">not beating expectations enough</a> when it reported earnings on August 28. And on Tuesday, its stock slid 9.5%, shedding $278.9 billion in valuation — the biggest single-day loss ever recorded by a US company. The wipeout is tied to concerns, including the health of AI and the US economy. A metric for manufacturing jobs, released on Tuesday, shrank for the third consecutive month, and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-nasdaq-selloff-nvidia-tech-ism-manufacturing-recession-2024-9">both major indices took a hit</a>. There's also bearish sentiment about a US employment employment report later this week. In just two weeks, analysts expect the Fed to <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-corporate-earnings-federal-reserve-slowdown-trivariate-research-2024-9">announce interest rate cuts</a>, which could be larger than they first expected, sending omens about the chances of a recession. At a company level, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-prediction-nvda-sell-stock-market-inflation-rates-outlook-2024-9?utm_medium=ingest&amp;utm_source=markets">one strategist flagged </a>that Nvidia is flashing a big "sell" sign to investors. Bill Blain, the founder of Wind Shift Capital and a longtime financial strategist, wrote in a note on Tuesday that <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-may-lose-ai-inference-market-groq-cerebras-2024-8">Nvidia's soaring valuation </a>has made many of its employees very wealthy. Citing numbers from a recent poll, Blain said that leaves less than a third of Nvidia's staff with "any real daily financial pressure upon them," which should make investors question their motivation and Nvidia's productivity. There were also renewed warnings about <a target="_blank" class="" href="https://www.businessinsider.com/ai-frontier-crowded-winners-losers-2024-8">AI spending</a> and how it will take time to materialize into results for investors. Michael Cembalest, the chairman of market and investment strategy at JPMorgan Asset Management, said investors are looking past GPU sales and focusing on whether the tech giants on Nvidia's customer list can make money from the hundreds of billions they have spent on AI. Blackrock echoed a similar sentiment: Investors are debating whether the dollars in spending will show up in future bottom lines, and how many years it will take. These concerns explain why <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-talks-invests-openai-microsoft-apple-100-billion-valuation-reports-2024-8">Nvidia</a> was not the only chipmaker that took a hit on Tuesday. Intel fell 8.8%, AMD dropped 7.8%, and Qualcomm fell almost 7%. An overall chip index — VanEck Semiconductor — was down 7.5%. Nvidia's <a target="_blank" class="" href="https://www.businessinsider.com/doj-subpoena-nvidia-antitrust-investigation-heats-up-report-2024-9">stock fell 2.4% after hours</a> after the US Department of Justice subpoenaed the company as part of a probe into whether <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-doj-investigation-runai-big-tech-crackdown-antitrust-acquisition-competition-2024-8">it violated antitrust laws</a>. Nvidia's massive valuation drop comes more than two years after <a target="_blank" class="" href="https://www.businessinsider.com/meta-q4-earnings-largest-ever-one-day-wipeout-190-billion-2022-2">Meta lost $237 billion in market value</a> in a single day in February 2022. Apple, which held the record before that, lost $180 billion in one day in September 2020. The 2022 rout was Meta's second time on the chart. In July 2018, the company <a target="_blank" class="" href="https://www.businessinsider.com/facebook-stock-price-earnings-report-market-value-on-pace-for-record-drop-2018-7">shed $119 billion in market cap</a> in a single day after reporting slowing growth in its second-quarter earnings. It was the largest one-day market cap slump at the time. Correction: September 4, 2024 — Because of an editing error, an earlier version of this story misstated when Nvidia most recently reported its earnings. It was on August 28, not September 28.

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