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IT firm <keyword id="30331" type="CITY" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword> on Monday posted a 9.9 per cent rise in consolidated net profit to Rs 3,214 crore for the June 2021 quarter, and said it expects double-digit growth in constant currency revenue in FY22. The IT major had registered a net profit of Rs 2,925 crore in the April-June 2020 quarter (as per US GAAP), <keyword id="28126" type="CITY" weightage="20" keywordseo="HCL">HCL</keyword> Technologies said in a regulatory filing. Its revenue grew 12.5 per cent to Rs 20,068 crore in the quarter under review, from Rs 17,841 crore in the corresponding period last year. "We posted 11.7 per cent year-on-year revenue growth in constant currency and 29 per cent y-o-y growth in Mode 2 services in constant currency headlined by <keyword id="11674205" type="UNKNOWN" weightage="20" keywordseo="cloud-and-digital">Cloud and Digital</keyword> transformation deals. "We remain very confident of a good quarter-on-quarter growth for the rest of this year, enabled by 37 per cent y-o-y growth in bookings and 7,500-plus net hiring this quarter," HCL Technologies President and CEO <keyword id="819570" type="COMPANY" weightage="20" keywordseo="C-Vijayakumar">C Vijayakumar</keyword> said. In constant currency terms, HCL Tech's revenue in the June 2021 quarter grew 11.7 per cent year-on-year, the filing said. "Revenue (is) expected to grow in double digits in constant currency for FY'22...EBIT margin (is) expected to be between 19 per cent and 21 per cent for FY'22," it added. The company's first-quarter TCV (total contract value) of new deal wins was at USD 1,664 million, up 37 per cent year-on-year. In dollar terms, HCL Technologies' net income was up 12.8 per cent at USD 43 million in the June 2021 quarter, while revenue was higher by 15.5 per cent at USD 2,719.6 million in the reported quarter over the year-ago period. The <keyword id="136326" type="ORGANIZATION" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> has declared an interim dividend of Rs 6 per equity share for the financial year 2021-22. The Record date of July 28, 2021, has been fixed for the payment of the interim dividend. At the end of the June 2021 quarter, HCL had 1,76,499 employees with a net addition of 7,522 people. Its attrition for IT services (on last 12-month basis) was at 11.8 per cent. SEE ALSO - <a href="https://www.businessinsider.in/tech/mobile/news/apple-could-finally-bring-the-always-on-display-feature-on-the-iphone-13/articleshow/84542970.cms">Apple could finally bring the always-on display feature on the iPhone 13</a> <a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms">G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700</a>

HCL remains confident on 'good' quarterly growth for the rest of this financial year, declares a dividend of ₹6 per share

<keyword id="2209846" type="UNKNOWN" weightage="20" keywordseo="DigitalOcean">DigitalOcean</keyword>, for those who don’t know, is a cloud platform that is simplifying the complexities of infrastructure for software developers and businesses. 
 Under the Memorandum of Understanding signed in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> on 1st December 2016, all <keyword id="3216" type="ORGANIZATION" weightage="20" keywordseo="students">students</keyword> who complete the SV.CO’s Free <keyword id="6561759" type="UNKNOWN" weightage="20" keywordseo="MOOC">MOOC</keyword> (Massive Open Online Course) will get cloud credits with additional cloud credits given to teams that get selected to the <keyword id="4006394" type="UNKNOWN" weightage="20" keywordseo="silicon-valley-program">Silicon Valley Program</keyword>. 
 The month-long six ways to graduate MOOC provides basics in entrepreneurship to first year engineering students while the six-month <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword> program is the main course of SV.CO’s #StartInCollege flagship program. 
 
<a href="http://www.businessinsider.in/how-india-shopped-on-snapdeal-in-2016/articleshow/56202021.cms">ALSO READ: How India shopped on Snapdeal in 2016</a> 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> talked to Prabhakar <keyword id="147167" type="PERSON" weightage="20" keywordseo="Jayakumar">Jayakumar</keyword>, India Country Manager, DigitalOcean, and he said, “At DigitalOcean, we look forward to supporting student entrepreneurs through such programs and help them build next generation businesses on the cloud.” 
 At this collaboration, Sanjay <keyword id="237155" type="PERSON" weightage="20" keywordseo="Vijayakumar">Vijayakumar</keyword> (Chairman, Startup Village) said,''The founders of DigitalOcean started in the famed <keyword id="4006395" type="UNKNOWN" weightage="20" keywordseo="techstars-accelerator-program">TechStars Accelerator Program</keyword> and are now giving back to the startup community around the world by offering their infrastructure and resources for young and upcoming <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>." 
The applications for inaugural six-month entrepreneurship course is closed and the batch commences on January 2nd, 2017. 
Applications for July 2017 batch will be opened on February 1st, 2017. Students can form teams and apply at www.sv.co, Mr. Vijayakumar said. 
 
<a href="http://www.businessinsider.in/uber-reveals-how-indians-used-its-app-to-get-around-in-2016-and-the-results-are-fascinating/articleshow/56202166.cms">ALSO READ: Uber reveals how Indians used its App to get around in 2016, and the results are fascinating</a> 
 Another program that they offer start-ups is the <keyword id="460956" type="PERSON" weightage="20" keywordseo="hatch">Hatch</keyword>, which is a global incubator program designed to support startups as they launch and scale. This includes access to DigitalOcean's cloud for 12 months, free technical training, mentorship, priority support, and an opportunity to connect with other startups, accelerators, and investors. 
 
<a href="http://www.businessinsider.in/bi-year-ender-five-surprising-startup-acquisitions-in-2016/articleshow/56184747.cms">ALSO READ: BI Year-Ender: Five surprising startup acquisitions in 2016</a> 
 
DigitalOcean had also launched an initiative for engineering students across the country called Campus Shark. The competition is aimed towards boosting product design capabilities amongst engineering students following the “Make in India” initiative. Campus Shark is a competition encouraging the growth of innovation amongst Indian students, in association with Incubate Hub, The winner will be recognized as a Campus Shark and be rewarded with a cash prize. “Initiatives such as Campus Shark are critical towards transforming India into a global digital leader’’ he signs off.

Exclusive: This is how you can get free cloud credits on
DigitalOcean

Senior stars including skipper <keyword id="19899523" type="General" weightage="20" keywordseo="Rohit-Sharma" source="keywords">Rohit Sharma</keyword>, premier batter <keyword id="19907934" type="General" weightage="20" keywordseo="Virat-Kohli" source="keywords">Virat Kohli</keyword>, pace spearhead Jasprit Bumrah and leading spinner R Ashwin received exemptions as the national selectors struck a fine balance between domestic performers and potential talent while picking up four squads for the <keyword id="21466887" type="General" weightage="20" keywordseo="Duleep-Trophy" source="keywords">Duleep Trophy</keyword> starting September 5 in Bengaluru. The tournament will feature international stars such as <keyword id="19929450" type="General" weightage="20" keywordseo="Shubman-Gill" source="keywords">Shubman Gill</keyword>, Yashasvi Jaiswal, leading all-rounders <keyword id="19896466" type="General" weightage="20" keywordseo="Ravindra-Jadeja" source="keywords">Ravindra Jadeja</keyword>, Axar Patel, wrist spinner Kuldeep Yadav and pacer Mohammed Siraj. T20 captain <keyword id="19908088" type="General" weightage="20" keywordseo="Suryakumar-Yadav" source="keywords">Suryakumar Yadav</keyword>, who had played one Test against Australia in 2023 has also been picked. Apart from Surya, the others have confirmed slot in the team. Wicketkeeper <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword>, who was part of India's T20 World Cup winning team, will also be featuring in the tournament, making it his first red-ball assignment after coming back from that horrific car accident in 2022. Also back in business will be another left-handed keeper <keyword id="19908087" type="General" weightage="20" keywordseo="Ishan-Kishan" source="keywords">Ishan Kishan</keyword>, who was removed from <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords">BCCI</keyword>'s central contracts list after he skipped the Ranji Trophy tournament last season giving priority to cash-rich IPL. Sarfaraz Khan and Dhruv Jurel, both of whom played vital role in India's home series win against England are also in the mix. Keepers Aryan Juyal and Abhishek Porel are also part of the various squads. India players were supposed to play only one match and hence Kohli, Rohit, Bumrah and Ashwin were given exemptions. They had the choice to opt out as first reported by PTI on July 16. Suryakumar is part of Team C, led by Ruturaj Gaikwad, which also has two exciting young pacers -- Anshul Khamboj and Himanshu Chauhan, who would be under the scanner of the selectors following their exploits last season. Mohammed Siraj and Jadeja will turn up for Team B which also comprises Pant, Yashasvi Jaiswal and Washington Sundar, while Shubman Gill will captain Team A, which consists of Kuldeep, <keyword id="19907933" type="General" weightage="20" keywordseo="KL-Rahul" source="keywords">KL Rahul</keyword>, Shivam Dube and Riyan Parag among others. Apart from Parag, Goalpara-born Akash Sengupta is the other cricketer from Assam to feature in the tournament. He is part of Team D, which will be led by Shreyas lyer with Ishan Kishan, Axar Patel, Arshdeep Singh as other teammates. Pace sensation Mayank Yadav, who is recovering from lower abdominal injury, is yet to regain fitness and will miss the event. Nitish Kumar Reddy's participation is also subject to fitness. India are slated to play two Test matches against Bangladesh - from September 19 at Chennai and from September 27 at Kanpur. "The athletes who will be selected to represent India for the home Test series against Bangladesh will be replaced in the Duleep Trophy," BCCI secretary Jay Shah said in a release. The Duleep Trophy was earlier scheduled to kick-off with two sets of first round matches at Anantapur in Andhra Pradesh from September 5, but now one of those games has been shifted to the M Chinnaswamy Stadium here to reduce the logistical inconveniences. The four squads for the first round of the tournament: Team A: Shubman Gill (C), Mayank Agarwal, Riyan Parag, Dhruv Jurel, KL Rahul, Tilak Varma, Shivam Dube, Tanush Kotian, Kuldeep Yadav, Akash Deep, Prasidh Krishna, Khaleel Ahmed, Avesh Khan, Vidwath Kaverappa, Kumar Kushagra, Shaswat Rawat. Team B: Abhimanyu Easwaran (C), Yashasvi Jaiswal, Sarfaraz Khan, Rishabh Pant, Musheer Khan, Nitish Kumar Reddy*, Washington Sundar, Ravindra Jadeja, Mohd Siraj, Yash Dayal, Mukesh Kumar, Rahul Chahar, R Sai Kishore, Mohit Awasthi, N Jagadeesan (WK). Team C: Ruturaj Gaikwad (C), Sai Sudharsan, Rajat Patidar, Abishek Porel (WK), Suryakumar Yadav, B Indrajith, Hrithik Shokeen, Manav Suthar, Umran Malik, Vyshak Vijaykumar, Anshul Khamboj, Himanshu Chauhan, Mayank Markande, Aryan Juyal (WK), Sandeep Warrier. Team D: Shreyas lyer (C), Atharva Taide, Yash Dubey, Devdutt Padikkal, Ishan Kishan (WK), Ricky Bhui, Saransh Jain, Axar Patel, Arshdeep Singh, Aditya Thakare, Harshit Rana, Tushar Deshpande, Akash Sengupta, KS Bharat (WK), Saurabh Kumar. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Big stars Kohli, Rohit exempted as Gill, Pant, Rahul, Jadeja set to play Duleep Trophy

Following the <keyword id="21711086" type="General" weightage="20" keywordseo="rain-threat" source="keywords">rain threat</keyword> during the clash between <keyword id="21019173" type="General" weightage="20" keywordseo="Royal-Challengers-Bengaluru" source="keywords" meta.keywordsubtype="org" meta.entityname="Royal Challengers Bengaluru" meta.hostid="261" meta.entityid="Royal Challengers Bengaluru">Royal Challengers Bengaluru</keyword> (RCB) and <keyword id="19906065" type="General" weightage="20" keywordseo="Chennai-Super-Kings" source="keywords" meta.keywordsubtype="org" meta.entityname="Chennai Super Kings" meta.hostid="261" meta.entityid="Chennai Super Kings">Chennai Super Kings</keyword> (CSK) in the <keyword id="19966825" type="General" weightage="20" keywordseo="Indian-Premier-League" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Premier League" meta.hostid="261" meta.entityid="Indian Premier League">Indian Premier League</keyword> (IPL) 2024, the fans have recieved good news from the venue as Bengaluru has seen blue skies and sunshine on Saturday morning. RCB will host CSK in the 68th fixture <keyword id="19911541" type="General" weightage="20" keywordseo="IPL-2024" source="keywords" meta.keywordsubtype="org" meta.entityname="IPL 2024" meta.hostid="261" meta.entityid="IPL 2024">IPL 2024</keyword> encounter at the M Chinnaswamy Stadium on Saturday. There is a lot of threat of rain in an all-important clash between RCB-CSK. This encounter is supposed to be crucial as it will decide the fourth and final team for the playoffs of the ongoing 17th edition of the cash-rich league. The evening views remain dull with a 60% chance of rain around the match's start time of 7.30 pm. The Indian Meteorological Department has predicted that it would be generally cloudy with one or two spells of rain or thundershowers. Even if it rains, the Chinnaswamy Stadium has a good drainage system and is one of the few grounds in India with a subsurface aeration system, allowing play to resume within 30 minutes after the rain stops. RCB is coming into the match with five wins on the trot after losing seven of the first eight matches this season but have a great chance to make the IPL playoffs for the ninth time. On the other hand, defending champions CSK have been more consistent throughout the season and are better placed to make their 13th playoff appearance. The five-time champions beat RCB in the season's first clash by six wickets. Chennai Super Kings are fourth on the points table with 14 points from 13 matches while Royal Challengers Bengaluru are at sixth with 12 points from as many games. CSK also have a better net run rate of 0.528 than RCB's 0.387. To replace the Super Kings in the top four, RCB needs to win the match by at least 18 runs if they score a minimum of 200 runs batting first or win in 18.1 overs if they are chasing 200. Chennai Super Kings, meanwhile, will qualify for the IPL 2024 playoffs if they win the match, regardless of the margin of victory. The last time CSK and RCB met in the inaugural match of the IPL 2024, the Super Kings clinched a six-wicket win over Faf du Plessis' side. Royal Challengers Bengaluru Squad: Faf du Plessis (c), Virat Kohli, Rajat Patidar, Glenn Maxwell, Cameron Green, Mahipal Lomror, Dinesh Karthik (wk), Karn Sharma, Mohammed Siraj, Lockie Ferguson, Yash Dayal, Swapnil Singh, Anuj Rawat, Suyash Prabhudessai, Vijaykumar Vyshak, Himanshu Sharma, Mayank Dagar, Manoj Bhandage, Tom Curran, Alzarri Joseph, Akash Deep, Saurav Chauhan, Rajan Kumar. Chennai Super Kings Squad: Rachin Ravindra, Ruturaj Gaikwad (c), Daryl Mitchell, Shivam Dube, Ravindra Jadeja, MS Dhoni (wk), Shardul Thakur, Tushar Deshpande, Simarjeet Singh, Maheesh Theekshana, Ajinkya Rahane, Sameer Rizvi, Prashant Solanki, Ajay Jadav Mandal, Mukesh Choudhary, Mitchell Santner, Richard Gleeson, RS Hangargekar, Shaik Rasheed, Nishant Sindhu, Aravelly Avanish. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

IPL 2024: Will rain play spoilsport in much-awaited blockbuster CSK vs RCB clash?

Equity benchmark <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> plunged over 400 points in early trade on Monday, tracking losses in index majors <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, Kotak Bank and Bajaj Finance amid a weak trend in global markets and persistent foreign fund outflows. The 30-share index was trading 435.74 points or 0.73 per cent lower at 59,200.27. Similarly, the <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> fell 129.85 points or 0.73 per cent to 17,634.95. Reliance Industries (RIL) was the top loser in the Sensex pack, shedding around 4 per cent after the company shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for USD 15 billion. It said its energy portfolio has changed with the foray into a new energy business, which would require a re-evaluation of the deal. Other laggards include Maruti, Bajaj Finance, Kotak Bank and Bajaj Finserv. On the other hand, <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, PowerGrid, Asian Paints, IndusInd Bank and ITC were among the gainers. In the previous session, Sensex ended 372.32 points or 0.62 per cent lower at 59,636.01. Similarly, the NSE Nifty fell 133.85 points or 0.75 per cent to 17,764.80. Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 3,930.62 crore on Thursday, as per exchange data. Equity markets were closed on Friday on account of 'Guru Nanak Jayanti'. Nifty has corrected around 4.5 per cent from the all-time high. The risk-off mood in global markets may gather strength on fresh COVID cases in Europe and lockdowns in countries like Austria, said VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services. The dollar index rising above 96 is another concern while the decline in crude is positive for India, he said, adding that the disastrous listing of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> may bring sanity to the exuberant IPO valuations . FIIs are likely to accelerate selling in this risk-off environment. Retail investors need not rush in to buy on declines. Partial profit booking and raising the cash level in the portfolio may be considered, he noted. Elsewhere in Asia, bourses in Hong Kong and Tokyo were trading with losses in mid-session deals, while Shanghai and Seoul were positive. Meanwhile, international oil benchmark Brent crude fell 0.06 per cent to USD 78.84 per barrel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/meta-is-delaying-end-to-end-encryption-for-facebook-messenger-and-instagram-until-2023/articleshow/87841312.cms">Meta is delaying end-to-end encryption for Facebook Messenger and Instagram until 2023 — here’s why</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/axie-infinity-has-an-inflation-problem-and-without-more-players-its-going-to-be-a-tough-fix/articleshow/87840750.cms">Axie Infinity has an inflation problem — and without more players, it’s going to be a tough fix</a>

Sensex tanks over 400 points in early trade, Nifty trading at 17,764 — Reliance Industries, Maruti, Bajaj Finance, Kotak Bank and Bajaj Finserv top losers

New Delhi, Mar 13 () Stock market witnessed a halt in trading for the first time in more than 12 years on Friday morning after benchmarks hit circuit breakers on panic selling triggered by concerns over coronavirus pandemic.The BSE and NSE stopped trading for 45 minutes starting from little past 9.20 am.To curb excessive volatility, circuit breakers are triggered on the basis of three thresholds for stock movement -- 10 per cent, 15 per cent and 20 per cent. The BSE and the NSE compute the index circuit breaker limits for 10 per cent, 15 per cent and 20 per cent levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size, HDFC Securities said citing regulatory framework. For 10 per cent movement before 1 pm, trading is halted for 45 minutes. The break time is 15 minutes for 10 per cent movement between 1 pm and 2.30 pm while there would be no halt in case the same happens after 2.30 pm. As per norms, trading would be halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Trading would be stopped for the day in case the 15 per cent movement is on or after 2 pm. Finally, a 20 per cent movement at any point of time would result in complete halt of trading for the day. Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008. There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade. Before trading was halted on Friday, nearly Rs 13 lakh worth investor wealth evaporated in less than 15 minutes of market open. "Last time, we had a circuit freeze and halt to trading was on January 22, 2008 when the Sensex had its biggest till date loss of 1,408 points. This was also the first ever four-digit crash in the Sensex. The global financial crisis and fears about a global recession had caused the crash," Vijaykumar said.HDFC Securities Head of Retail Research Deepak Jasani said halting of trade is basically "cooling down period" for investors. RAM MKJ

Bourses halt trading for first time in 12 years

The Maharashtra Lok Sabha constituency of Nandurbar comprises of six assembly seats namely Akkalkuwa, Shahada, Nandurbar, Nawapur, Shirpur and Sakri. All these six seats are reserved for SC candidates. From the Akkalkuwa seat, Shiv Sena is fielding Amasha Padvi against the INC contestant KC Padavi. The Nandurbar contestants include Mohan Pawan Singh of INC and Vijaykumar Gavit of BJP. From the Nawapur seat, INC’s Shirish Surupsingh H Naik will take on BJP’s Bharat Manikrao Gavit. From the Shahada seat, Padmakar Vijay Singh Valvi of INC will contest with Rajesh Udesingh Padvi of BJP. INC is fielding Ranjeet Bharat Singh Pawra from the Shirpur seat. The Maharashtra assembly elections are scheduled on October 21, 2019. The votes will be counted on October 24, 2019. The results are likely to be out on the same day. The sitting MP of Nandurbar is the BJP candidate Dr.Gavit Heena Vaijaykumar. He secured 106,905 votes more than the INC candidate Gavit Manikrao Hodlya and won this seat in 2019 Lok Sabha elections. In the 2014 assembly elections, Akkalkuwa (ST) seat was won by Padavi Adv. K.C. of INC by taking 15775 votes more than the runner up contestant of NCP Paradake Vijaysing Rupsing. From the Shahada (ST) seat, BJP’s Padvi Udesing Kocharu scored 719 votes more than the INC candidate Padmakar Vijaysing Valvi. The Nandurbar winner was BJP’s Nandurbar (ST) Gavit Vijaykumar Krushnarao who got 27118 votes more than the INC candidate Vasave Kunal Batesing. Nawapur (ST) seat’s sitting MLA is Naik Surupsing Hirya of INC who got 21817 votes more than NCP candidate Gavit Sharad Krushnarao. From the Sakri seat, INC contestant Ahire Dhanaji Sitaram Or D.S.Ahire got 3323 more votes than the runner up contestant of BJP Gavit Manjula Tulshiram. The Shirpur (ST) winner was Kashiram Vechan Pawara of INC who secured 25201 votes more than BJP’s Dr.Jitendra Yuvraj Thakur.

Maharashtra state election results 2019: Akkalkuwa, Shahada, Nandurbar, Nawapur, Shirpur and Sakri Candidate list

New Delhi, Nov 20 () With a view to keep retail investors away from portfolio management schemes (PMS), Sebi on Wednesday decided to raise the minimum investment amount of clients for such schemes to Rs 50 lakh from the earlier Rs 25 lakh.
Besides, it has decided to increase the networth requirement of portfolio managers to Rs 5 crore from 2 crore, Sebi Chairman Ajay Tyagi told reporters after the board meeting.
He further said the existing portfolio managers will have to meet the enhanced requirement within 36 months.
PMS offers investors a range of specialised investment strategies to capitalise on opportunities in the market and made suitable to the needs of individual clients.
The Sebi board has approved amendment the Sebi (Portfolio Managers) Regulations, which will enhance the eligibility criteria and define the role of principal officer clearly.
Under the new norms, a portfolio manager needs to mandatorily employ minimum one person with defined eligibility criteria in addition to principal and compliance officer.
"Minimum investment by clients of portfolio managers to be increased from the 25 lakh to Rs 50 lakh. Existing investments of clients may continue as such till end date of PMS agreement or as specified by the board," Sebi said.
The regulator further said discretionary portfolio managers will invest only in listed securities, money market instruments and mutual funds, while non discretionary managers will have to invest not more than 25 per cent of their assets under management in unlisted securities.
The appointment of custodian will be mandatory for all portfolio managers, except for those providing only advisory services to clients.
"Hiking the investment limit for PMS from Rs 25 lakhs to Rs 50 lakhs is a bit restrictive. Many potential investors are likely to be denied the benefits of PMS," said V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services. AA SP BAL

Sebi hikes portfolio management scheme limit to Rs 50 lakh, networth requirement to Rs 5 cr

Mumbai, Mar 13 () Equity benchmark Sensex rebounded over 4,400 points from the day's lows and the broader Nifty reclaimed the 9,800 level in afternoon session on Friday as investors scrambled to buy stocks at hammered valuations. Recovering from an intra-day low of 29,388.97, the BSE-share index was trading 949.11 points or 2.90 per cent higher at 33,727.25 at 1240 hours. Similarly, the NSE Nifty was trading 216.45 points, or 2.26 per cent, up at 9,806.60. In opening session, both indices plunged over 10 per cent, hitting their lower circuit levels, as new coronavirus-led recession fears triggered panic selling in the market. Stock exchanges had halted trading for 45 minutes within 15 minutes for market opening. Normal trading resumed around 1030 hours. "Last time we had a circuit freeze and halt to trading on January 22, 2008, when the Sensex had its biggest loss (till then) of 1,408 points," VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services. SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel. On the other hand, Nestle India, Asian Paints, TechM, Hero MotoCorp and ONGC were trading up to 4 per cent lower. According to market participants, volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a manic selloff. Mild recovery was seen in other Asian bourses too with Shanghai down 1.23 per cent, Hong Kong 2.60 per cent, Seoul 6.08 per cent and Tokyo 3.43 per cent. The rupee too witnessed a sharp recovery, appreciating 36 paise at 73.92 per US dollar (intra-day). Brent crude oil futures surged 3.25 per cent to USD 34.42 per barrel. Around 130,000 cases of the new coronavirus or COVID-19 have been recorded in 116 countries and territories, killing at least 4,900 people. The total number of confirmed cases in India stood at 75, including 17 foreigners, as per health ministry officials. ANSANS

Sensex rebound over 4,400 pts from day's low; Nifty above 9,800

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Mumbai, Mar 13 () Markets took investors on a gut-churning ride on Friday, with trading being halted for the first time in 12 years as benchmarks plunged over 10 per cent in opening trade, before staging an emphatic comeback powered by banking, finance and energy stocks. The BSE and NSE suspended trading for 45 minutes a little past 9.20 am after the Sensex and Nifty plunged in tandem with global markets as the coronavirus pandemic triggered recession fears. However, domestic indices surged after trading resumed as investors snapped up recently-battered stocks available at attractive valuations. Expectations of stimulus measures by the US and other countries also buoyed sentiment, analysts said. Recovering over 5,380 points from its intra-day low of 29,388.97, the BSE Sensex ended 1,325.34 points or 4.04 per cent higher at 34,103.48. Similarly, the NSE Nifty settled 365.05 points, or 3.81 per cent, up at 9,955.20. It hit an intra-day low of 8,555.15. Most Sensex components ended with gains. SBI was the top gainer, rallying 13.87 per cent, followed by Tata Steel, HDFC, Sun Pharma, Bharti Airtel, Bajaj Finance and ICICI Bank. On the other hand, Nestle India, Asian Paints, HUL, Hero MotoCorp and HCL Tech shed up to 4.12 per cent. During the holiday-shortened week, the Sensex plummeted 3,473.14 points or 9.24 per cent, while the Nifty lost 1,034.25 points or 9.41 per cent. The benchmarks posted their biggest ever one-day falls in two sessions this week (March 9 and 12). Investor wealth worth around Rs 15 lakh crore has been wiped off in the past four sessions. "This week will go down in history as one of the worst weeks for global markets. Consider this, the US market had declined 18 per cent in just the first four days of trading. "Markets have been battered by the potential economic impact on account of various preventive travel measures by major countries. FPIs sold equities worth USD 2.3 billion over the past five trading sessions while DIIs bought USD 1.8 billion worth of equities in the same period," said Sanjeev Zarbade, VP PCG Research, Kotak Securities. All sectoral indices ended with gains, with BSE telecom, metal, oil and gas, finance, banking and energy indices rallying up to 6.39 per cent. Broader midcap and smallcap indices too settled on a positive note. As per norms, trading is halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008. There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade. Sebi on Friday said the regulator and stock exchanges are prepared to "take any action" as required to deal with market volatility. Chief Economic Advisor Krishnamurthy Subramanian also said the government and the RBI will take all necessary steps to quell the "fear sentiment" created due to the coronavirus outbreak. Meanwhile, official data released after market hours on Thursday showed that India's factory output rose marginally in January, while retail inflation eased to a two-month low in February, paving the way for RBI to cut interest rate to boost growth. In rest of Asia, Shanghai slipped 1.23 per cent, Hong Kong 1.14 per cent, Seoul 3.43 per cent and Tokyo 6.08 per cent. Bourses in Europe opened up to 4 per cent higher. The rupee too witnessed a sharp recovery, appreciating 47 paise to 73.81 per US dollar (intra-day). Brent crude oil futures surged 5.51 per cent to USD 35.05 per barrel. The total number of confirmed coronavirus cases in India stood at 75, including 17 foreigners, as per health ministry data. Around 1,30,000 cases of Covid-19 have been recorded in 116 countries and territories, killing at least 4,900 people. ANS ABMABM

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