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New Delhi, Auto components maker Happy Forgings Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,200-1,300 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to 80.55 lakh shares by a promoter and a selling shareholder, according to the draft red herring prospectus (DRHP) filed on Monday. As part of the OFS, 53.7 lakh equity shares will be offloaded by <keyword id="17519692" type="General" weightage="50" keywordseo="paritosh-kumar-garg" source="Orion">Paritosh Kumar Garg</keyword> (HUF) and up to 26.85 lakh equity shares by India Business Excellence Fund - III. Also, the company may consider a pre-IPO placement of shares aggregating up to Rs 100 crore. If such placement is completed, the fresh issue size will be reduced. According to market sources, the IPO size is expected to be Rs 1,200-1,300 crore. Going by the draft papers, proceeds from the fresh issue to the tune of Rs 213.6 crore will be utilized towards the purchase of equipment, plant, and machinery, up to Rs 190 crore for payment of debt and a portion of funds will also be used for general corporate purposes. Ludhiana-based auto components maker employs a vertically integrated approach encompassing engineering, process design, testing, manufacturing, and supply of diverse components. Its primary clientele includes both domestic and global OEMs in the commercial vehicle sector, while also serving non-automotive markets like farm equipment, off-highway vehicles, and industrial machinery spanning oil and gas, power generation, railways, and wind turbine industries. Among its notable customers are <keyword id="6357085" type="General" weightage="80" keywordseo="ashok-leyland" source="Orion">Ashok Leyland</keyword>, JCB India, Mahindra &amp; Mahindra, <keyword id="574323" type="General" weightage="50" keywordseo="sml-isuzu" source="Orion">SML ISUZU</keyword>, and <keyword id="258568" type="General" weightage="80" keywordseo="tata-cummins" source="Orion">Tata Cummins</keyword>. The company has operations in nine countries, namely Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the UK, and the US. The company's consolidated revenue from operations rose 39.12 per cent to Rs 1,196.53 crore in fiscal year 2023 from Rs 860.05 crore in the preceding fiscal. Net profit jumped 46.67 per cent to Rs 208.70 crore from Rs 142.29 crore in fiscal 2022. <keyword id="45949" type="General" weightage="50" keywordseo="jm-financial" source="Orion">JM Financial</keyword>, Axis Capital, Equirus Capital, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. Equity shares are proposed to be listed on BSE and NSE.

Auto components maker Happy Forgings files IPO papers with Sebi

<ul><li><keyword id="19563904" type="General" weightage="20" keywordseo="tata-technologies-ipo" source="Orion">Tata Technologies’ IPO</keyword> opens for subscription on November 22, amidst a lot of competition.</li><li>Analysts believe that the outsourced ER&amp;D market will see good growth ahead, and say that its price band offers investors an upside.</li><li>Even though it’s a complete offer for sale, brokerages predict good earnings growth for the company going ahead. </li></ul>The initial public offer (IPO) of Tata Technologies is opening its subscription alongside four other issues. While investment bankers are confident of the ‘high-quality business’ from the House of Tatas, analysts are backing the ₹3,042 crore issue due to its prospects, business model and mostly its pricing. The grey market is also the most optimistic it’s ever been in the recent past as it predicts 70% listing gains. The engineering research and development (R&amp;D) company offers product development and digital solutions to manufacturing companies. “Its areas of expertise include product engineering and manufacturing engineering in the mechanical domain such as body engineering, while it is adding capabilities in the software and embedded engineering segments,” says a report by Emkay. This market of global outsourced ER&amp;D market was estimated to be around $105-110 billion in 2022. Moreover, the digital engineering market is expected to grow at a compounded annual growth rate (CAGR) of 16% between 2022 to 2026. Auto to EV to aviation The subsidiary of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> is heavily focussed on the auto sector where it gets 75% of its revenues from. But its turnkey solutions can also be used across the manufacturing vertical. It has set its sights on aviation where the outsourced ER&amp;D market is as big as $9 billion per annum. “Apart from automotive, it will be a key beneficiary of tailwinds in aerospace led by capacity expansion plans of aircraft manufacturers and MRO (Maintenance, Repair, and Overhaul) activities,” says a report by IDBI Capital. The growing electric vehicle sector too is another area of focus. Prashanth Tapse, senior VP of research at Mehta Equities says that portfolio is diverse across traditional OEM’s to new-age electric vehicles. “We think outsourcing business models would be in great demand going forward in engineering services and digital transformation services to global manufacturing clients helping clients to conceive, design, develop and deliver better products,” Tapse adds. While services constitute around 80% of its revenues, it also gets 11% of revenues from products business where it re-sells third-party software applications. It also has an education vertical where it provides ‘phygital’ solutions in manufacturing skills – that nets it with 9% of revenues. Slower than peers, but better In the last three fiscal years, from FY21 to FY23, its revenue and profit after tax grew at a compounded annual growth rate (CAGR) of 36% and 62% respectively. Analysts say that the growth is a tad slow, as compared to its industry peers be it LTTS, its own group company Tata Elxsi and KPIT Cummins. “Tata Tech’s growth trajectory over FY16-23 remains slower than peers’, but has seen improvement in the last three years because of traction in select accounts. Weakness in a large client in H1FY24 due to near completion of the large full-vehicle development projects may weigh on the company’s near-term performance,” says a report by Emkay. The company had specified in its risk factors in the RHP that it’s heavily dependent on its top five clients. This also includes its anchor clients – its promoter Tata Motors, and its subsidiary, Jaguar Land Rover. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,414 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,529 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,380.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹436.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹239 crore </td></tr></tbody></table>Source: RHP ‘Investor-friendly pricing’ Emkay also quickly adds that all the above issues are fairly captured in its valuations. It has set a price band of ₹475-500 for the issue. At the upper end of the price band, Tata Tech is being valued at around 32 times its FY23 EPS. The same ratio for LTTS is at 40x, Tata Elxsi at 69x, and KPIT at 110x. Most brokerage reports say that the company has left something on the table for its IPO investors. “Despite 100% OFS offer investors are keen to own the share based on group legacy. We strongly advocate a good long term prospects for the company. We recommend it from a long-term perspective as well as strong listing gain due to investor friendly pricing given good room for upside,” said Tapse. IDBI Capital too said that it expects robust earnings growth going ahead, while Ventura also says that it has good earnings growth potential. “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years,” the Ventura report said. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/the-dark-truth-behind-rbis-crackdown-on-easy-personal-loans/articleshow/105287366.cms">The dark truth behind RBI’s crackdown on easy personal loans</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

Tata Technologies IPO: The price is right say analysts

The <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> closed at an all-time high of <a href="https://www.google.com/search?q=sensex&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=sensex&amp;aqs=chrome..69i57j69i60j0j69i61l2j0.2417j0j7&amp;sourceid=chrome&amp;ie=UTF-8">39,084 points </a>yesterday, as strong expectations of a rate cut and continued liquidity support by the Reserve Bank of India along with a surge in foreign portfolio investments drove a week-long rally. By the end of this year, the Sensex would have been in operation for 33 years. The index of the 30 largest stocks on the Bombay Stock Exchange first came into being in 1986 with 1979 being set as its base year. The title itself is a combination of the words “sensitive” and “index”. These were the original companies when the Sensex was first compiled. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">ACC </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Kirloskar Cummins </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ballarpur Industries </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Premier Automobiles </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Century Textiles </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Hindustan Motors </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bombay Dyeing </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Mahindra &amp; Mahindra </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Reliance Industries </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mukand Iron </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Grasim </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bharat Forge </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Rayon </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Guj. State Fertilizers </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Great Eastern Shipping </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Organics </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Siemens </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Hindustan Lever </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Peico Electronics </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">GSK </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Tata Power </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Nestle </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Tata Steel </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ceat </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Hindustan Aluminium </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Voltas </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Tata Motors </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Hotels </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">ITC </td></tr></tbody></table> These were largely industrial companies, the leaders in sectors like metals, chemicals, cement and engineering. In fact, 27 of these companies were manufacturers. There wasn’t a single technology company or bank. In July 1990, the Sensex finally reached <a href="https://economictimes.indiatimes.com/markets/stocks/news/digest-this-sensex-grew-390-times-in-40-years/tracing-the-growth-timeline/slideshow/68685220.cms">1000 points</a> after starting w<keyword id="6354185" type="UNKNOWN" weightage="20" keywordseo="IT">it</keyword>h 100 points in 1979. It reached the 3000 point mark in January 1992. But how? 
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 In December 1991, financial <keyword id="150139" type="PERSON" weightage="20" keywordseo="liberalisation">liberalisation</keyword> happened. The reforms ushered in by the Congress government - at the behest of the World Bank and IMF - led to a dismantling of foreign investment and trade restrictions, a deregulation of capital markets and also made the economy more service-oriented. The Sensex started the year 2000 at just over <a href="https://www.google.com/search?q=sensex&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=sens&amp;aqs=chrome.0.69i59j69i60l3j69i57j69i61.829j0j7&amp;sourceid=chrome&amp;ie=UTF-8">5,400 points</a> and since then has amassed nearly 34,000 points, crossing 10000 points in February 2006 amid a boom in global commodity markets, and 20000 points in December 2007. Growth slowed down amid the <keyword id="6371665" type="UNKNOWN" weightage="20" keywordseo="financial-crisis">financial crisis</keyword> and the sluggishness of the UPA-II tenure. In fact, as a result of the global financial crisis struck, the Sensex went back to 9,328 points by the end of 2008. However, aided by monetary easing and liquidity support from central banks in developed countries, the index recovered slowly in the years since the financial crisis. It finally crossed the 25000 point mark in May 2014 after the BJP won national elections. The index crossed the 30,000 mark less than a year later and 35,000 mark in January 2018. As of today, a mere 7 stocks that were on the index at the point of its inception have remained. These are <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries, ITC, HUL, Larsen &amp; Toubro, Mahindra &amp; Mahindra, <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Motors and Tata Steel. But what changed since the Sensex was first compiled? It incorporated companies from service industries like banking, telecom and IT while scrapping failing ones like Ballarpur Industries, a paper manufacturer whose product sales lagged owing to increasing digitisation, and Great Eastern Shipping. The rapid development of the information technology (IT) industry in the late 90s and early 2000s saw stocks like Infosys and TCS entering the index, replacing older companies. More significantly, banks and financial services companies make up a third of the stocks on the index - an indicator of the credit boom that has fuelled private investment and consumption by a rising middle class. As a result of liberalisation, India’s largest companies are less dependent on domestic sales and have been deriving a larger bulk of their revenues from <keyword id="35090" type="COMPANY" weightage="20" keywordseo="exports">exports</keyword>. While companies like Infosys benefitted from the IT outsourcing boom, automobile manufacturers like Tata Motors ventured into developed markets like the UK, <a href="https://www.tatamotors.com/press/tata-motors-completes-acquisition-of-jaguar-land-rover/">closing big acquisitions in the process. </a> 
 
 
 
 
 
 
 
 
 
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The story of Sensex since its inception in 1986 is the story of India’s economy

Australian pacer <keyword id="19942566" type="General" weightage="20" keywordseo="Josh-Hazlewood" source="keywords">Josh Hazlewood</keyword> believes India's confidence would have been shaken by the shocking series loss to New Zealand, but the "sleeping giant" can mount a strong comeback in the <keyword id="20534757" type="General" weightage="20" keywordseo="Border-Gavaskar-Trophy" source="keywords">Border-Gavaskar Trophy</keyword> starting later this month. India suffered a humiliating series whitewash after losing the third match by 25 runs to New Zealand in Mumbai on Sunday, the first time in their Test history, which goes back to 1933. "It might awaken a sleeping giant, so to speak. We'll see that when they come out," Hazlewood told 'Sydney Morning Herald'. Not only did the drubbing at home mark one of the darkest moments in India's Test cricket history, it has also significantly impacted the Rohit Sharma-led side's chances of qualifying for next year's <keyword id="19909461" type="General" weightage="20" keywordseo="World-Test-Championship" source="keywords">World Test Championship</keyword> (WTC) final. Three back-to-back losses meant that India have lost their top spot to Australia in the WTC standings. India are now faced with a tough task to win four of their five matches against Australia to qualify for their third consecutive WTC final without relying on external results. "It's obviously better them losing 3-0 than winning 3-0, easily. The confidence might have taken a bit of a hit. A lot of them have been out here, but there are a few batters who haven't, so they'll be a bit unsure of what to expect," Hazlewood said. "I don't think you can read too much into it. The results are obviously good for us in a way." Hazlewood, who is a part of Australia's three-pronged pace attack along with Mitchell Starc and skipper Pat Cummins, lauded his Trans-Tasman rivals for achieving something no other team has been able to do. "Credit to the Kiwi boys. They played outstanding cricket. To win 3-0 in India is unbelievable. It's hard enough to win one game there, let alone every match of the series," Hazlewood said. Australia are set to host India for a five-match Test series, starting November 22 in Perth. "Everything's falling into place. It's just a huge series. Every time we play India, it's right up there with the Ashes," Hazlewood said. "I think the crowds will be massive. I think the TV ratings could be huge. (There is talk) it could be the biggest ever." Hazlewood, who turned up for Queensland in their Sheffield Shield match against New South Wales, missed the opening ODI against Pakistan on Monday but said he would play the second match on Friday in Adelaide. "I pretty much got out what I needed ... very happy with how I bowled. Body felt surprisingly good. The longer I went, I think the better that I felt, and the rhythm was there," he added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a><a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms" target="_blank">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a>

3-0 drubbing at the hands of NZ might awaken sleeping giant India, feels Hazlewood

<ul><li><keyword id="158401" type="General" weightage="50" keywordseo="vikram-kirloskar" source="Orion">Vikram Kirloskar</keyword>’s love for engineering took him to one of the world’s best institutes – MIT. </li><li>As a trainer, his task was to improve the quality of production of the shop floor, and he helped drive new processes and innovations. </li><li>In a career that lasted over 30 years, he helped build over 25 greenfield projects. </li></ul>Vikram Kirloskar, the vice chairman of Toyota Kirloskar Motor, who died at 64 of a heart attack, is best known for bringing Japanese major Totoya to India through a joint venture in the late 90s. Undoubtedly he stood tall within the automotive industry, but was a fearless voice for the industry at large. He was a votary of stable policies for a sector that has seen myriads of disruptions over the last several years. He also navigated the industry as president of the Confederation of Indian Industry (CII) over 2019-20, which ended up as one of the most challenging years for the Indian industry as the Covid pandemic had struck during that time. He became not just the voice of calm during that time but also acted as a bridge between the government and the industry. Despite the multiple hats he wore, Kirloskar is best known as the face of Toyota Motors in India. His partnership with the Japanese auto major has survived the test of time, unlike many others that were instrumental in bringing many other global auto brands into India. Headquartered in Bidadi, Karnataka the venture pushed many popular models like Innova, Qualis, Camry and more that ruled the Indian roads for over a decade. This was a result of the vision of Kirloskar, who remained as the vice chairman of the venture until he passed away on November 29. Yet, that is not his best contribution to India. The fourth-generation entrepreneur Born in 1958, he was the fourth-generation entrepreneur of the Kirloskar group that was founded in the late 1800s to manufacture iron ploughs. The company was then one of the cornerstones of industrialisation, which was rare in India. Even as a young boy, Vikram liked to build things – be it sculpting, aeroplane models and more. His love for ‘engineering’ took him to one of the world’s best institutes – Massachusetts Institute of Technology (MIT). He joined the family business soon after, with the burden of a great degree and the expectations of being part of a business family. He became a production engineer trainee at Kirloskar Cummins in Pune, where his love for the factory sites started. In an interview with Millionaire Asia, he however did admit that competition was light in those days. “Back then, it was just that you did what you were told to do as a trainee and worked very hard,” he told <a href="https://www.pressreader.com/india/millionaireasia-india/20170101/282183650811698">the magazine</a>. He was tasked with improving the quality of production of the shop floor, and had used his engineering skills to drive new processes and innovations. Much of his success, Kirloskar said, came from his ability to concentrate on one thing at a time – and his capabilities lay in understanding how a factory works, and building and maintaining it. In a career that lasted over 30 years, he had helped build over 25 greenfield projects. He also had varied interests in sports and arts as he loved golfing, playing tennis, painting, sculpting and even cooking. Industry leaders express their shock, grief Vikram Kirloskar is survived by his wife Geetanjali Kirloskar and daughter Mansi, who is married to Neville Tata, the son of Noel Tata, who is the chairman of Trent. Kirloskar’s sudden death has shocked many of his friends in the industry who expressed grief at his loss. "Devastated with Vikram's shocking demise. He was such a dear friend who I will hugely miss. I share the pain and unconsolable grief of Gitanjali Manasi n the family. May he rest in eternal peace. Om Shanthi," tweeted Kiran Mazumdar-Shaw, the executive chairperson of Biocon. Top banker Uday Kotak too expressed his grief on Twitter. “Very sad to lose my friend Vikram Kirloskar. He had world class vision to bring the best to India. A clear mind and a great heart. We also worked together at CII leadership. We are with you, Geetanjali and Manasi,” he said. “Deeply grieved by the sad demise of one of the giants of India's automotive industry and a humanist, Vice Chairperson of Toyota Kirloskar Motor, <keyword id="15657437" type="General" weightage="50" keywordseo="shri-vikram-kirloskar" source="Orion">Shri Vikram Kirloskar</keyword>. My profound condolences to members of his family. May his atma attain sadgati! Om Shanti!” wrote former vice president of India, Venkaiah Naidu. The last respects can be paid at Hebbal Crematorium, Bengaluru today at 1 pm. (With agency inputs) SEE ALSO <a href="https://www.businessinsider.in/business/startups/article/unicorns-are-pass-cockroaches-are-the-new-favourites-of-venture-capitalists/articleshow/95734214.cms">Unicorns are passé, cockroaches are the new favourites of venture capitalists</a> <a href="https://www.businessinsider.in/business/corporates/article/tatas-mega-aviation-merger-is-poised-for-flight-but-the-skies-are-not-clear-yet/articleshow/95526116.cms">Tata's mega aviation merger is poised for flight, but the skies are not clear yet</a>

Vikram Kirloskar: The MIT engineer who loved to build factories

<ul><li>Over 1,300 firms and representatives from over 50 countries are taking part in the event.</li><li>During the Defence Expo 2022, 451 Memorandums of Understanding (MoUs) and agreements worth ₹1.53 lakh crore were signed.</li><li>Here are some products showcased at the <keyword id="15296776" type="General" weightage="20" keywordseo="defense-expo-2022" source="Orion">defense expo 2022</keyword>.</li></ul>The Defence Expo 2022 was inaugurated by Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> on 19 October at Mahatma Gandhi Convention and Exhibition Centre in Gandhinagar. This 12th edition of the event had been organized on the theme ‘Path to Pride’. Speaking at the event, PM Modi said that the Defence Expo is introducing Indian defense manufacturing capabilities to the world. Further, he added, India was globally known only as one of the biggest defense importers, now, India is exporting defense equipment and products to more than 75 countries worldwide. In the last five years, Indian defense exports have grown eight times and stood at USD 1.59 billion (United States dollar) in 2021-2022. According to the Prime Minister, the country now aims to increase defense exports to 5 billion USDs in the near future. With 1,300 defense companies and representatives from over 50 countries, the Defence Expo 2022 is said to be the largest expo held in the country. During the Defence Expo 2022, 451 Memorandums of Understanding (MoUs) and agreements worth ₹1.53 lakh crore were signed. Here are some products showcased at the defense expo 2022. <cmsannotation type="cmsannotation" annotationid="Mounted Gun System (MGS)" comment="subhead" text="Mounted Gun System (MGS)">Mounted Gun System (MGS)</cmsannotation> <div type="image" title="Mounted Gun System (MGS)" msid="95006269" hostid="261" sizebytes="69758"></div> DRDO is developing an Advanced Towed Artillery Gun System 155mm/ 52 cal (ATAGS) in partnership with the Tata and Kalyani group. In a Mounted Gun System (MGS), the entire gun is mounted onto a wheeled tractor, from where it can be fired without any dismounting or lengthy preparation. MGS can be brought into action in just 80 seconds. The MGS weighs 15 tonnes, and the KolosTatra tractor weighs 15 tonnes. MGS has cleared tests in deserts and high-altitude areas where it displayed accuracy and consistency. <cmsannotation type="cmsannotation" annotationid="The light tank" comment="subhead" text="The light tank">The light tank</cmsannotation> <div type="image" title="light tank" msid="95006326" hostid="261" sizebytes="34258"></div> After the encroachment of the Chinese army across the Line of Actual Contol, DRDO was pushed to resume working on a much-debated project, the development of a 25-tonne light tank that would be mobile enough for India’s high mountain border areas, jungle terrain and narrow roads and bridges. The tank has high-grade armor protecting STANAG level 4 and a high-pressure tank gun (105mm or 120mm). <cmsannotation type="cmsannotation" annotationid="Wheeled Armoured Platform (WhaP)" comment="subhead" text="Wheeled Armoured Platform (WhaP)">Wheeled Armoured Platform (WhaP)</cmsannotation> <div type="image" title="Wheeled Armoured Platform (WhaP)" msid="95006366" hostid="261" sizebytes="14646"></div> This multi-purpose vehicle is developed by DRDO and can handle chemical, biological, radiological, and nuclear attacks. This vehicle can also be used as a lightly armored ambulance. It is 8x8 wheeled and will weigh around 24.5 tonnes. Also, it will be amphibious, meaning capable of floating. Under the hood, the vehicle will have a 600HP Cummins engine coupled with an Allison transmission. <cmsannotation type="cmsannotation" annotationid="Trainer Aircraft HTT-40" comment="subhead" text="Trainer Aircraft HTT-40">Trainer Aircraft HTT-40</cmsannotation> <div type="image" title="Trainer Aircraft HTT-40" msid="95006385" hostid="261" sizebytes="18638"></div> PM Modi unveiled HTT-40, an indigenous trainer aircraft designed and developed by Hindustan Aeronautics Limited. The aircraft has been designed with pilot-friendly features, with over 60 percent in-house parts and collaboration with private industry. The HTT-40 will be used for basic flight training, aerobatics, instrument flying, and close formation flights, including night flying. The HTT-40 has completed all tests, including hot weather, and cross-wind trials. <cmsannotation type="cmsannotation" annotationid="Ballbot" comment="subhead" text="Ballbot">Ballbot</cmsannotation> <div type="image" title="ballbot" msid="95006405" hostid="261" sizebytes="117624"></div> The Ballbot is an ideal solution for surveillance, reconnaissance, and patrolling. It has a modular chassis and sensors that can be reconfigured per specific requirements. The Ballbot can be used for counter-intelligence and counter-terrorism as it will provide a remote eye on the ground. <cmsannotation type="cmsannotation" annotationid="EyeRov Tuna" comment="subhead" text="EyeRov Tuna">EyeRov Tuna</cmsannotation> <div type="image" title="EyeRov Tuna" msid="95006441" hostid="261" sizebytes="30260"></div> The EyeRov Tuna is fitted with a camera that sends live video feeds of the underwater environment. It can inspect railway bridge piers, ship hulls, dams, and port structures. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-defense-exports-touched-a-record-13000-crore-in-2021-22/articleshow/92850833.cms">India's defense exports surge to ₹13,000 crore — private companies beat govt</a> <a href="https://www.businessinsider.in/defense/news/made-in-india-lightweight-combat-helicopter/articleshow/94613836.cms">Here’s everything you need to know about the made-in-India lightweight combat helicopter</a>

Defense Expo 2022: A big step towards self-reliance in defense with a new tank, gun system, and more

<ul><li>The ₹150 crore IPO of Craftsman Automation will open on March 15.</li><li>It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes.</li><li>The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.</li><li>Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra &amp; Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland. </li></ul>The ₹150 crore initial public offering (IPO) of auto and engineering components maker Craftsman Automation is set to hit the capital markets on March 15. The company has fixed a price band of ₹1,488–1,490 a share for its IPO. The three-day public issue will close on March 17. It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes. Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in 3 business segments <ul><li>Automotive — powertrain and others</li><li>Automotive — aluminium products</li><li>Industrial and engineering.</li></ul>Craftsman Automation IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><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;">Particulars </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;">Issue details </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;">Opens on </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;">March 15 </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;">Closes on </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;">March 17 </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;">Price band </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;">₹1,488–1,490 per share </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;">Minimum bid </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;">10 equity shares </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;">Reservation for qualified institutional buyers </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;">50% </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;">Reservation for non-institutional buyers </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;">15% </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;">Reservation for retail investors </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;">35% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and IIFL Securities are the book running lead managers for its public offering IPO. Craftsman Automation: All you need to know <ul><li>The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.</li><li>It owns and operates 12 strategically located manufacturing facilities across 7 cities in India.</li><li>Craftsman has relationships with several marquee domestic and global OEMs as well as component manufacturers. Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra &amp; Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland.</li><li>The company has received funding from global investors such as International Finance Corporation (IFC) and Marina III Singapore Pte Ltd. Presently, IFC and Marina have 14.06% and 15.50% shareholding, respectively, in the company.</li><li>Its revenue from operations increased by 20% to ₹1,818 crore in March 2019 (YoY). However, in March 2020 the revenue dipped 17% in the corresponding year-ago period.</li><li>The company’s profit also plunged nearly 59% to ₹57.39 crore in FY20 (YoY).</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a> <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a>

Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490

Monday's <keyword id="6354312" type="LOCATION" weightage="20" keywordseo="IPL">IPL</keyword> match between Kolkata Knight Riders and <keyword id="6354506" type="COMPANY" weightage="20" keywordseo="Royal-Challengers-Bangalore">Royal Challengers Bangalore</keyword> in Ahmedabad has been rescheduled after two members of the <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> contingent tested positive for COVID-19, a BCCI source told . The match will be played some time later during the tournament, which is scheduled to conclude on May 30. "Two members of the contingent have tested positive for <keyword id="8764262" type="COMPANY" weightage="20" keywordseo="covid">COVID</keyword> but we are waiting for their second test reports to avoid the false positive scenario that happened with Anrich Nortje of <keyword id="3251768" type="COMPANY" weightage="20" keywordseo="Delhi-Capitals">Delhi Capitals</keyword> earlier," the source said on conditions of anonymity. KKR last played on April 29 against Delhi Capitals in Ahmedabad and the development is bound to trigger some anxiety in the tournament, which had been going along smoothly so far. It is learnt that KKR's pace spearhead Pat Cummins revealed the latest development to all the Australian players in the IPL. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-earnings-disappoints-markets-stocks-fall-by-over-2-in-morning-trade/articleshow/82364515.cms">Reliance Industries’ earnings disappoints markets – stocks fall by over 2% in morning trade</a> <a href="https://www.businessinsider.in/stock-market/news/tata-power-says-it-has-no-such-decision-on-an-ipo-for-its-renewable-energy-business/articleshow/82365533.cms">Tata Power says it has ‘no such decision’ on an IPO for its renewable energy business</a>

IPL reschedules KKR-RCB match after two cricketers test positive for COVID-19

Dubai, Ace Indian cricketers <keyword id="6354486" type="UNKNOWN" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> and Jasprit Bumrah have moved up by a spot in their <keyword id="10436802" type="UNKNOWN" weightage="20" keywordseo="respective-icc-players">respective ICC players</keyword> rankings in <keyword id="9400" type="PERSON" weightage="20" keywordseo="test-Cricket">Test cricket</keyword>. Kohli has displaced New Zealand skipper Kane Williamson at the second spot in the latest <keyword id="6355164" type="UNKNOWN" weightage="20" keywordseo="ICC">ICC</keyword> Test rankings for batsmen. India's Test vice-captain <keyword id="51784" type="PERSON" weightage="20" keywordseo="Ajinkya-Rahane">Ajinkya Rahane</keyword> has also entered the top 10 list. Cheteshwar Pujara has maintained his seventh spot in the list currently led by Australia's Steve Smith. In the bowlers list, Bumrah has moved to number eight while ace off-spinner Ravichandran Ashwin has entered the top 10. The list is led by Australia pacer Pat Cummins, followed by England's Stuart Broad and Neil Wagner of New Zealand. In the list of all-rounders, Ravindra Jadeja is the highest ranked Indian, currently occupying the third spot. Ashwin is placed at the sixth spot. In the Test team rankings, India are placed at the third spot while Australia and New Zealand occupy the first and second spot respectively. India and Australia are scheduled to take on each other in the four-match Test series beginning Thursday. Kohli will take part in the first Test only and will return to India after the pink-ball fixture at the Adelaide Oval (December 17-21) to be with his wife Anushka Sharma who is expecting their first child. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-airtel-vodafone-idea-tcs-tata-steel-cams-nmdc-and-others/articleshow/79732131.cms">Top stocks to watch — RIL, Airtel, Vodafone-idea, TCS, Tata Steel, CAMS, NMDC and others</a> <a href="https://www.businessinsider.in/tech/news/comparing-the-apple-m1-macbook-vs-the-intel-macbook/articleshow/79733783.cms">Apple vs Intel – Comparing the Apple M1 MacBook vs the Intel MacBook</a>

ICC Test rankings — Virat Kohli holds the second rank, Ajinkya Rahane secures a spot in the top 10

IIM Ahmedabad With 18 offers, e-commerce major Amazon has been the biggest hirer during the summer placements of the Indian Institute of Management-Ahmedabad (IIM-A). Amazon made the maximum 18 offers, followed by McKinsey &amp; Company with 15 in the consulting domain and Goldman Sachs with nine among the banks.In the general management cohort, Tata Administrative Services was the largest recruiter with 10 offers. In the consumer tech area, Sprinklr made nine offers. Good offers also came in for sales and marketing, with Hindustan Unilever making seven and Procter &amp; Gamble, SC Johnson and <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> making six offers each. Prominent recruiters in the investment banking and markets space included Citibank, Credit Suisse, JP Morgan, Kotak IB and Standard Chartered. Banking, financial services and insurance hirers included American Express, FinIQ, Fullerton and RBL. Accenture Strategy, AT Kearney, Bain &amp; Co, Oliver Wyman and the Boston Consulting Group represented the management and niche consulting domain. 
 
IIM Nagpur 
The highest stipend offer that was bagged by a student of the Post Graduate Programme (PGP) batch was of Rs. 1.6 lakh for a duration of two months.Vijay Phate, in-charge of placement office, said, "This year, the highest and the average stipend offered saw a significant jump. The highest stipend offered was Rs1.6 lakh, and the average stipend of the batch also increased by 24% to Rs56,900." This year more than 40 recruiters from across sectors have found IIM-N students suitable for the summer internship positions, the premier institute said in a press statement. IIM-N has seen a significant increase in number of first-time recruiters, even for the second batch of PGP students, it added. 
 
IIM Amritsar 
With Ernst &amp; Young as the top recruiter, IIM Amritsar witnessed 100 per cent placement for its largest ever batch. Ernst and Young was the top recruiter followed by ICICI Lombard, Maruti Suzuki, Shopclues, Toyota, SBI, EXIM Bank, Adani, DHFL Pramerica, PayU, IFFCO, Tega, RBI, Canara Bank and Choco-Swiss. A total of 51 companies had participated in the IIM Amritsar summer placement. While the highest stipend offered is INR 1.1 lakh, the average stipend offered is INR 49780 thus marking an increase in 49.64% in the average stipend on a year-over-year basis. 
 
IIM Shillong 
The season witnessed a highest stipend of INR 2,50,000 and an average total stipend of INR 81,000, a significant jump of 17% from the previous year. A total of 184 roles were offered across various functional domains. Sales &amp; Marketing emerged as the most sought-after domain with 36% of the total offers made to the candidates. Prominent recruiters such as Mahindra GMC, Aditya Birla Group, <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword>, Dabur, <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword>, Perfetti Van Melle, ICICI Bank, Amazon, <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> Business Consulting, Titan, GSK Pharmaceuticals, TATA Steel, Fidelity Management Research and Wipro continued to show faith in the caliber of the students. The Institute also played host to an array of new and eminent recruiters this year including ITC, <keyword id="6358918" type="PERSON" weightage="20" keywordseo="Deloitte">Deloitte</keyword> S&amp;O, Kohler, Beiersdorf (Nivea), Yes Bank, Piramal Enterprises, Cummins, VMware, Aviva Life Insurance, Lava, and Metlife. Deloitte emerged as the largest recruiter in Consulting domain offering the highly coveted Strategy and Operations profile. HSBC made the maximum offers in the Finance domain while ITC, Tata Motors and Tata Steel made the highest number of offers in Sales &amp; Marketing domain. Apart from the increasing number of offers made in FMCG, Manufacturing &amp; Retail sectors, the season also saw participation of unconventional sectors such as Healthcare and Social Sector offering Strategy and Development roles. 
 
IIM Udaipur 
Of the 181 students in the batch, 157 sought placements through the Institute while 8 students opted for the summer entrepreneurship programme offered by IIMU. A total of 46 firms made offers for summer internships, an increase of 9.5% over the previous year. While regular recruiters like General Electric, RBL Bank, Amul, Xpress Money, NMC Healthcare, Snapdeal and ICICI Bank among others continued to show their faith in the potential of the students at IIMU, eighteen new firms joined the recruiters’ list. The average stipend offered stands at INR 52,653 while the highest stipend offered jumped to INR 1,60,000, a 10% rise over the previous year. The average stipend offered to the top 10 percentile increased by 5.3% over the previous year to INR 1,30,497. The average stipend offered to top 25 percentile students stands at INR 1,06,100 and for the top 50 percentile it is INR 81,366. All figures are for the entire duration of the internship. This year also witnessed a 100% increase in the number of international placements with 14 students bagging offers outside India. The average stipend for the international placements is INR 1,08,425 for the two months excluding benefits such as accommodation, travel, and flight-tickets. 
 
IIM Trichy 
The average stipend offered for the internship period was Rs. 53,030 and the highest domestic offer was Rs. 2.50 lakhs. Roles were offered across various domains like Sales &amp; Marketing, Finance, General Management, Consulting, Strategy, Operations &amp; HR. Some of the major recruiters taking part in the process were Microsoft, Dabur, World Bank, Mahindra, Accenture, Cognizant, Deloitte, Yes Bank, etc. There was an even distribution in the companies visiting from various sectors like BFSI, Consulting, Manufacturing, IT &amp; Services, FMCG, Retail, E-commerce, Supply Chain &amp; Infrastructure. The average of the top 10% offers for the domains like Sales &amp; Marketing, General Management &amp; Finance witnessed a growth in the range of 20-25% compared to the previous year. The median stipend offered to the top 10 percentile of the batch was Rs. 1.31 lakhs and that offered to the top 25 percentile of the batch was Rs. 1 lakh.

Top summer placement offers at IIMs across the country

The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> gained for the second day as traders used the early morning dips to buy into blue chips even as they became cautious of the strong run up in mid cap companies.
 

	The Nifty rose 21 points to end the day at 8,588 on Thursday. Its Advance-Decline ratio was 30/20 with Larsen, Dr. Reddy's, Kotak Bank and Punjab National Bank leading the list of gainers. Tech Mahindra, ITC and Coal India saw their stock prices ending below Wednesday's close. State Bank of India was the most active counter on the Nifty, trading 1.53 crore shares.
 

	Mid-priced stocks saw active demand. There was no let up in buying into CNX Nifty Junior, CNX 100, CNX 200 and CNX 500 Indices, although the gains were muted.
 

	
		
			The Bank Nifty added 100 points to 19,029 as traders remained buyers on the entire banking sector but they preferred PSU lenders over their private counterparts. The CNX PSU bank Index was the top gainer, up 0.7 percent. The trend in other sectoral indices weakened. CNX Metals, CNX IT, CNX Media and CNX FMCG edged lower. 
		 
		
			On the Bombay Stock Exchange, the <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> rose 75 points to end the day at 28,298 points. Lupin, Dr. Reddy's, Tata Motors and TCS were the top gainers whereas ITC, Coal India and Reliance Industries lost ground. As a consequence, the Advance-Decline Ratio on the Sensex stood at 17/13. Tata Motors was the top traded counter with 12.54 lakh shares changing hands on the BSE.
		
			
				 
				
					Bears dominated the wider market today with just 1,372 stocks gaining ground versus 1,551 fell below Wednesday's closing prices.
				 
				
					The trend was positive in the derivatives space with Nifty Futures closing above the 8,600-point mark. Pharma, Power, Realty and Infrastructure sectors were the major gainers among 18 industries in both price and open interest. The Advance-Decline Ratio was a strong 83/76 in the futures and Options market.
				 
				
					Investors cheered earnings from Cummins, JP Power, Bajaj Electricals, Escorts and 3M India whereas they were disappointed by Motherson Sumi, Accelya Kale and Arvind Ltd. 
					 
					Image credit: Indiatimes

Here's how the day came to a close at Dalal Street

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> may consolidate at 2-week highs on Thursday as traders digest strong gains over the past week and rework valuations in the mid cap zone, which is trading near record highs. 
 
The SGX Nifty points to a 24 point drop at opening for the Nifty today. 
 
Global cues are mixed. Major Indices in the US rose between 0.3-0.7 percent on Wednesday. The trend was bullish in European markets with top indices gaining between 1-1.7 percent. The commodity space continues to send out positive cues for Indian equities. Gold Futures slipped for the 4th day, to fresh 5-1/2 year lows; Oil Futures edged up. The metal complex remains in a firm bear grip. And stocks in Japan, China and Hong Kong are trading with a downward bias on Thursday. 
 
The Nifty Index closed at 8,567 points, up 51 points, on Wednesday, resuming its upward climb and closing near the highest level since July 24. Major action was concentrated in the mid cap segment yesterday. The Nifty enjoys a strong support at 8,500-8,450 levels while the resistance is seen at the 8,637 point level. 
 
The sentiment remains mixed in the cash market. Foreign Institutional Investors totalled net buys of `448 crores on Wednesday, their 3rd day of purchases. In contrast net sales of `189 crores from domestic investors. The derivatives space saw positive mood across the board. Traders made net purchases worth 598 crore rupees for Index Futures; Purchases of 228 crore rupees for Stock Futures; Purchases of `439 crore rupees for Index options and net buys of 37 crore rupees for Stock Options. 
 
Today's major earnings are from Motherson Sumi, Arvind, Cummins, Praj, SRF, Tata Global. Strong delivery based buying in Motherson Sumi, Bosch and Nestle on Tuesday. Schneider Electric Infrastructure showed a very strong surge in delivery volumes. 
 
STOCKS TO WATCH: 
 
SIEMENS: First quarter margins surge to 10.7 percent, highest since 13 quarters. Q1 PAT at 170 crore rupees. 
 
BATA: First quarter PAT slips marginally, minus exceptional item 
 
RAMCO CEMENTS: Q1 PAT surges to 95 crore rupees versus 35 crores. 
 
GSK Consumer: Q1 PAT rises 8 percent. 
 
PRICOL: Q1 PAT sinks 74 percent. 
 
 Image credit: Indiatimes

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