<keyword id="4594384" type="General" weightage="80" keywordseo="murugappa-family" source="Orion">Murugappa family</keyword>, the promoters of Chennai-based diversified <keyword id="46488" type="General" weightage="100" keywordseo="murugappa-group" source="Orion">Murugappa Group</keyword>, on Sunday announced a settlement agreement among its members putting an end to the fight that arose after the death of <keyword id="15093763" type="General" weightage="50" keywordseo="MV-Murugappan" source="Orion">MV Murugappan</keyword>. In a statement, the family said its members have agreed to settle the disputes and differences between the family branch of late MV Murugappan (including <keyword id="5688241" type="General" weightage="70" keywordseo="valli-arunachalam" source="Orion">Valli Arunachalam</keyword> and <keyword id="15029945" type="General" weightage="70" keywordseo="vellachi-murugappan" source="Orion">Vellachi Murugappan</keyword>), on one side, and the rest of the family members without disclosing details citing confidentiality. "The family arrangement is envisaged primarily to bring about amity and maintain goodwill amongst the members of the Murugappa family, and to maintain the overall harmony within the family, in this generation, as well as in the future," it said. The Murugappa family members first discussed and concluded the terms of the family arrangement amongst themselves at a meeting in the presence of their respective advisors and the understanding was recorded on Sunday by way of a memorandum entered into by the members of the Murugappa family with the family branch of late MV Murugappan. M V Murugappan, who was the former Chairman of Carborundum Universal and the senior most member of the family, died on September 19, 2017. "The family members are committed to undertaking the necessary transactions to effect the family arrangement within the next 90 days," it added. As part of the family arrangement, the parties have also agreed that all legal proceedings between the family groups will be withdrawn as per the terms of the family arrangement after all agreed steps specified in the family settlement have been completed. The statement, however, said that "no listed company forming part of the Murugappa Group is a party to the family arrangement, and nothing in the family arrangement relates to the management or control of, or grants any special rights to the parties in, any such companies". The group has 11 listed entities, including Carborundum Universal Ltd, Cholamandalam Investment and Finance Company Ltd, Coromandel Engineering Company Ltd, Coromandel International Ltd, EID Parry (India) Ltd and Tube Investments of India Ltd, among others. Quoting family representatives, the statement said, "The family arrangement ensures that all the issues between the members will be settled, and they are happy that they have agreed to resolve this amicably. The terms of the family arrangement itself are confidential." The Rs 74,200-crore Murugappa group, which began in the banking markets of Burma in the 1900s, currently operates 29 businesses catering to diverse markets around the world. It has a presence in 40 countries across six continents employing over 73,000 employees. Its businesses span from agriculture, engineering, and financial services to others such as tea, rubber, construction, polymer fabrics, textiles and travel solutions.

Murugappa family members reach settlement agreement

<img class="gwt-Image" src="/photo/48235691.cms" style="width: 800px; height: 600px;" /> Shares of <keyword id="385842" type="UNKNOWN" weightage="100" keywordseo="Coromandel-International-Ltd-">Coromandel International Ltd.</keyword>, a maker of fertilisers, dropped more than 4 percent after the company's first quarter profit shrank on account of lower realisations. 

	Coromandel, which also makes pesticides, said its consolidated quarterly profit slipped 55 percent to 14.5 crore rupees compared with 32.5 crores in the same quarter a year ago. Sales during April-June rose 16 percent to 2,181 crore rupees compared with 1,881 crore rupees in the year ago period.
 As a consequence Coromandel's shares fell 4.5 percent, or 11 rupees, to 235 rupees on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> where 2.1 lakh shares changed hands in the five hours of trade compared with the 5-day average of 0.38 lakh shares. Coromandel's market capitalisation has remained flat at 7,100 crore rupees in the past one year as investors ignored commoditised <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">stocks</keyword>. The company is a part of South-based diversified giant <keyword id="46488" type="CITY" weightage="100" keywordseo="Murugappa-group">Murugappa Group</keyword>. 
	 
	(Image credits: thehindubusinessline)

The brewing storm at the markets hits fertilisers stocks too

EV startup Vidyut on Tuesday said it has raised $10 million in its Series A fundraise (a mix of equity and debt funding) led by 3one4 Capital, and will deploy new funds to scale its new offerings that include EV insurance, lifecycle management and EV resale. The round also witnessed participation from new and existing investors namely, Saison Capital, <keyword id="20657706" type="General" weightage="20" keywordseo="zephyr-peacock" source="keywords">Zephyr Peacock</keyword>, Force Ventures, a venture debt fund Alteria Capital and CEO of Udaan, <keyword id="20483955" type="General" weightage="20" keywordseo="sujeet-kumar" source="keywords">Sujeet Kumar</keyword>. Founded in 2021, the startup said it aims to expand its presence to 40 cities and will double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said <keyword id="20657704" type="General" weightage="20" keywordseo="gaurav-srivastava" source="keywords">Gaurav Srivastava</keyword>, co-founder of Vidyut. The company already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group's Montra Electric, Euler Motors and OSM vehicles. "Vidyut's model removes EV adoption barriers, especially in the large but price sensitive driver cum owner segment. At 3one4 Capital, we are excited to back the Vidyut team in their mission to simplify EV ownership," said <keyword id="20657703" type="General" weightage="20" keywordseo="sonal-saldanha" source="keywords">Sonal Saldanha</keyword>, Vice President, Investments, 3one4 Capital. "After hitting an inflection point, customised financing and lifecycle management solutions will play a central role in large scale EV adoption, requiring lenders to evaluate asset risk alongside borrower risk," added <keyword id="20657705" type="General" weightage="20" keywordseo="dhairen-tohliani" source="keywords">Dhairen Tohliani</keyword>, Vice President, Alteria capital. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank">Dell XPS 17 9730 review – Feature-packed laptop but at a premium</a><a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank">ViewSonic VX3219 2K PRO gaming monitor – Reliable at an affordable price</a>

EV startup Vidyut raises $10 mn to build full-stack ecosystem

234-year-old company EID Parry is only a tad more valuable than year-old  unicorn GlobalBees

<ul><li>The 30-share BSE index was trading 309 points higher, and the broader NSE Nifty was trading 0.65% higher on Monday at 9:40 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indices surged in early trade on Monday, tracking gains in index-heavyweights Reliance Industries, HDFC Bank and Infosys amid largely positive cues from global markets and sustained foreign fund inflow. The 30-share BSE index was trading 309 points higher, and the broader NSE Nifty was trading 0.65% higher on Monday at 9:40 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Lab </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td></tr></tbody></table>*as of November 23, 9:57 am These are the top stocks in news today. Ujjivan Small Finance Bank leaps over 10% The shares of Ujjivan Small Finance Bank gained over 10% after the central bank’s Internal Working Group (IWG) <a href="https://www.businessinsider.in/finance/banks/news/rbi-panel-proposes-raising-promoter-stake-cap-allowing-nbfcs-to-become-banks-and-large-corporation-can-own-banks/articleshow/79323107.cms">has proposed 12 changes to ownership</a> guidelines and corporate structure for Indian private sector banks. The panel recommends that banks currently under NOHFC (non-operative financial holding company) structure may be allowed to exit from such parameters. Reliance Industries and Future Retail gain after CCI approval The shares of Mukesh Ambani-owned Reliance Industries gained over 2% after The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The ₹24,713 crore deal will boost Reliance Industries' fast-growing retail business. The shares of Kishore Biyani-led Future Retail were also locked in a 10% upper circuit during the morning trade. Pfizer shares gain over a percent The shares of COVID vaccine manufacturer Pfizer gained over a percent after <a href="https://www.telegraph.co.uk/news/2020/11/22/pfizer-covid-vaccine-could-get-green-light-end-week/">news reports</a> hinted that the UK could give regulatory approval to Pfizer-BioNTech’s COVID-19 vaccine this week, even before the United States authorises it. CG Power locked in 5% upper circuit The shares of CG Power were locked in a 5% upper circuit after lenders agreed to a one-time loan restructuring to pave way for the Chennai-based Murugappa Group taking over the scam-hit equipment maker. CG Power’s total debt stands at ₹2,161 crore, of which a consortium of 14 banks have taken a haircut of ₹1,100 crore and restructured the remaining. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-pharmacy-is-going-to-be-the-first-big-test-of-public-trust-in-prime-and-will-expose-the-company-to-more-scrutiny/articleshow/79353327.cms">Amazon Pharmacy is going to be the first big test of public trust in Prime and will expose the company to more scrutiny</a> <a href="https://www.businessinsider.in/india/news/moderna-covid-19-vaccine-to-cost-govts-25-37-per-dose-ceo/articleshow/79353606.cms" data-type="tilCustomLink">Moderna Covid-19 vaccine to cost govts $25-$37 per dose: CEO</a>

Top stock movers — RIL, Future Retail, Ujjivan SFB, Pfizer, CG Power, and others

New Delhi, Jan 29 () Cholamandalam Financial Holdings Ltd, a Murugappa Group company, Wednesday reported a 5 per cent jump in its consolidated net profit at Rs 430.3 crore for the quarter ended December 31.
 The company had reported a profit of Rs 408.65 crore in the year-ago period.
 Total income of the company rose to Rs 3,395.34 crore, from Rs 2,954.13 crore in the same period a year ago, Cholamandalam Financial Holdings said in a statement.
 "Pursuant to the Taxation Laws (Amendment) Ordinance 2019, promulgated on September 20, 2019, the company and some of its subsidiaries have exercised the option permitted under the Income Tax Act, 1961, to compute income tax at revised rate (25.17 per cent) from current financial year, and accordingly, has re-measured current or deferred tax and the consequential effect has been fully recorded during the previous quarter ended September 30, 2019," it said.
 Cholamandalam MS General Insurance Company Ltd, a subsidiary in general insurance business, in which the company holds about 60 per cent stake, registered a Gross Written Premium (GWP) of Rs 1,204 crore as against Rs 1,155 crore for the quarter ended December 2018.
 The company further said that Cholamandalam Investment &amp; Finance Company Ltd, in which the company holds 46.5 per cent stake, reported a 28 per cent jump in net profit at Rs 389 crore for the quarter ended December 31. DP DRR

Cholamandalam Financial Holdings Q3 profit up 5 pc at Rs 430 cr

<ul><li>Despite a volatile market, these <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword> have seen a strong rally over last one month. </li><li>CG Power is up over 61% in the past one month.</li><li>Lemon Tree is up over 29% in the past one month.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>In a volatile market, each and every bet of yours needs a second thought. The Indian stock market is still recovering from the impact of COVID-19 pandemic. In the last one month, benchmark index <keyword id="6484188" type="COMPANY" weightage="20" keywordseo="sensex">Sensex</keyword> has gained 5%. But, these following stocks have stood out with its stellar rally in the past month — and here’s why. <table style="width:145.55pt;margin-left:4.55pt;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 5.4pt 0in 5.4pt"> <tbody><tr> <td style="width:97.55pt;border:solid windowtext 1.0pt; mso-border-alt:solid windowtext .5pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> Stocks </td> <td style="width:48.0pt;border:solid windowtext 1.0pt; border-left:none;mso-border-top-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Growth in last one month </td> </tr> <tr> <td style="width:97.55pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Lemon tree </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 29.26% </td> </tr> <tr> <td style="width:97.55pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> CG Power </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 61% </td> </tr> <tr> <td style="width:97.55pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Balaji Amines Limited </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 16% </td> </tr> <tr> <td style="width:97.55pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> SBI card </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 14% </td> </tr> </tbody></table> Lemon Tree is up over 29% in the past one month <keyword id="46252" type="PERSON" weightage="20" keywordseo="Motilal-Oswal">Motilal Oswal</keyword> has a ‘Buy’ rating for Lemon Tree with a target price of ₹33. “Lemon Tree Hotels’ cost-saving initiatives have aided in achieving positive Earnings before interest, taxes, depreciation and amortization (higher than the estimate). This is commendable in our view, especially at a time when hotel players have either reported or are likely to post EBITDA loss (for players yet to announce results),” the report said. The company has gradually made its hotels operational with 86% of its inventory operational in June compared to 58% in April. “Some cost-cutting measures shall also persist post-COVID-19, which should increase EBITDA margin by 500–700bp,” the report said. CG Power is up over 61% in the past one month CG power has been in the news for various reasons in the past month. The company in late July completed the divestment process of its subsidiary, CG Service Systems France SAS (SEFR). Last week CG Power and Industrial Solutions also informed stock-exchanges that Murugappa Group company Tube Investments of India would be investing ₹700 crore to acquire 51% stake in the company. Balaji Amines is up over 16% in the past one month The chemical manufacturing company, Balaji Amines shares, have been riding on the hopes of manufacturing gains amid the pandemic. Also being one of the essential item manufacturers, Balaji Amines saw relatively smooth business operations during the lockdown period. The company’s net profit rose 72.11% to ₹32.96 crore in the quarter ended June 2020. SBI Card is up over 14% in the past one month The shares of the second-largest credit card issuer SBI Card is expected to gain more in the coming days, according to Geojit Financial Services. The brokerage has a ‘Buy’ call with a target price of ₹851. Earlier on July 21, the company also posted a 13.80% year-on-year (YoY) rise in net profit at ₹393.29 crore for the quarter ended June 30. SEE ALSO: <a href="https://www.businessinsider.in/india/news/here-is-how-you-can-check-prime-minister-kisan-samman-nidhi-scheme-beneficiaries-list/amp_articleshow/75323061.cms" data-type="tilCustomLink">How you can check PM Kisan scheme beneficiaries status and list</a> <a href="https://www.businessinsider.in/india/news/pm-kisan-samman-nidhi-scheme-sixth-instalment-will-be-sent-to-10-crore-farmers-from-august-1/articleshow/76885301.cms" data-type="tilCustomLink">PM Kisan Samman Nidhi scheme's sixth instalment will be sent to 10 crore farmers from August 1</a>

Profitable stocks in last one month—Lemon Tree, CG Power, Balaji Amines Limited, SBI Card

<img class="gwt-Image" src="/photo/55579424.cms" /> After Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> announced demonetisation scheme, a sharp seven percent drop in the benchmark was witnessed. This happened as the scheme made Indian billionaires poorer over $1 billion and the list includes Tatas, Birlas and Mahindras taking the biggest hit in value terms. 
 
According to data by ETMarkets.com, the promoters of Tata group firms and those of AB Birla and Mahindra group companies together have lost an amount $9 billion in market valuations in just eight sessions. 
 
However, Mukesh Ambani-led Reliance group is the least affected in this spree. 
 
Promoters of 27 Tata group firms combined lost Rs 39,636 crore in wealth between November 8 and November 21. TCS, where promoter holding stood at 73.33 per cent as of September 30, saw promoters lose Rs 21,839 crore in wealth due to the steep market correction. 
 <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> is down by Rs 8,954 crore, Titan by Rs 3,131 crore and <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> has witnessed a loss of Rs 1,128 crore were other three Tata group companies, where promoters saw wealth erosion. 
 The Tata firms earlier took a hit because of the <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> related feud. 
 However, promoters of Mukesh Ambani-led Reliance group lost only 1.78 per cent of their wealth, or Rs 2,760.6 crore, over the past eight sessions. <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> (down by Rs 1,748 crore) and TV 18 Broadcast (Rs 704 crore) were among the worst hit firms in the group in value terms. 
 
In percentage terms, Shriram group promoters' lost the most as their wealth fell by 21 per cent, or Rs 2.772 crore, to Rs 9,913 crore. Piramal group promoters lost 14 per cent whole Anil Ambani's Adag group promoters also saw a similar cut. 
 
Munjal (down 13.52 per cent), OP Jindal group (down 10 per cent), Murugappa Group (down 10 per cent) and Adani (down 9.83 per cent) were among the entities where the promoters lost about one-10th of their wealth in these eight sessions.

Tatas, Birlas, other desi billionaires face around $1 billion losses due to demonetization; Reliance least affected

<img class="gwt-Image" src="/photo/50493965.cms" />The Indian IT sector has always been on the forefront in hiring, but this time even manufacturing has bounced back and is approaching top business schools for placements. 
 
Riding high on reforms announced by Prime Minister Narendra Modi-led government, manufacturing companies are expecting a good 2016. 
 
They are approaching IIMs, IMT, IMI, IMT for hiring and reportedly, the recruitment has gone up by 40%. 
 Hinduja Group, <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> Motor India, TVS Motor, the Murugappa Group, Sundaram Clayton, 3M, Bajaj Electricals, Saint Gobain and Welspun, have joined <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, Reliance, <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> and Asian Paints. 
 "There are new companies coming and recruiting in large numbers. We have seen 40% increase in <keyword id="3199148" type="UNKNOWN" weightage="20" keywordseo="hiring-by-manufacturing-companies">hiring by manufacturing companies</keyword>. Revival in sectors such as transportation, automobile, infrastructure has led to this revival," Abhishek Kumar, assistant professor at BIM Trichy, told ET. 
 
"The central government is working hard on the policy front including GST, labour reforms, etc., besides trying to improve infrastructure and creating smart cities," Maclean Raphael, executive director, human resources, 3M India Ltd, told ET. 
 
 (Image: Thinkstock)

Riding on Modi’s reforms, manufacturing companies are hiring like never before

<img class="gwt-Image" src="/photo/49447975.cms" />Ashish Tulsian’s food café in Delhi’s Shalimar Bagh was teeming with customers but something wasn’t going right. 
 
He had invested Rs 20 lakh on his café and was expecting returns up to Rs one lakh every month. But, he could just gather at the most Rs 22,000. 
 
After three months, he realized that his staff was fleecing him at various accounts such as not registering all orders with the owner, tasting meals which led to finishing off lot of food and also taking him on a ride regarding the kitchen stock. 
 
Here’s when he developed a Point of Sale (POS) technology. This technology is spreading slowly in ice-cream parlours and pizza outlets and turning out to be a boon for restaurant owners. 
 
What is POS and how it works? 
 
Using POS, a restaurateur can enter all details in real-time, ranging from kitchen stock to orders taken to customer details, etc. 
 
One can also manage customer waiting by mailing them their turn, manage staff members, set up menu, and many more using POS, which is a cloud-based technology. 
 
 
“Nowadays, Delhi is dotted with eating joints and food-serving hubs and there is a need to bridge the gap between customers and the restaurants. POSist has taken upon the challenge in making the restaurant owners know what’s happening at their restaurant that too on their fingertips,” said Ashish. 
 
 
“Cloud based software” is basically a misnomer, which can be based on different interpretation. What it actually implies is that the major part or entire application resides on a cloud server infrastructure and is being used via internet on the client side. 
 
However, POSist works on both,offline and online mode. This has proved to be an advantage for restaurateurs who are remotely located and often don’t have continuous Internet connection. 
 
Additionally, it also helps in cost cutting by eliminating the use of human resource for bill collection at different billing terminals. The entire POS system uses highly integrated mechanism that helps in streamlining number of operations through convenient billing. 
 
"With the influx of so many customers, it is quite important to know what's happening at all the outlets, and it also becomes vital to store information as well. And if the system crashes then the backup is always there, which provides us the security for the successful management,” said Taranjit Singh Giani of Giani ice-cream chain in Delhi who uses the POS. 
 
POSist comes at Rs 12,000 per terminal per year and is already present across 2,200 restaurants in India including Grill Inn, Saleem, Kaati Zone, Hatti Kapi. 
 
Akshay Agarwal who owns Mad Monkey Café in Delhi said, “I have been using this for quite some time now. When I began this café few months back, I had options between software and cloud based service. I chose this. And now I feel this helps me a lot. Practically even if I’m out for many days, my business isn’t affected.” 
 
POSist has already raised Rs 3 crore from Sameer Guglani of Chandigarh-based incubator, The Morpheus, and Muthu Murugappan of the Murugappa Group. Tulsian has plans to collect another Rs 25 crore for international expansion.

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