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<ul><li>The company saw an adjusted EBITDA loss of $4.1 million for the April-June quarter, widening by over 50% from last year’s $2.7 million loss.</li><li>Due to its failed merger with Ebix, <keyword id="143718" type="COMPANY" weightage="20" keywordseo="Yatra-com">Yatra.com</keyword> said it has paid $2.2 million in legal fees. </li><li>But the legal troubles come for the company in the same quarter when <keyword id="2173225" type="PERSON" weightage="20" keywordseo="travel-and-tourism">travel and tourism</keyword> have already taken a hit because of the coronavirus pandemic. </li></ul><keyword id="6362992" type="UNKNOWN" weightage="20" keywordseo="yatra">Yatra</keyword>.com, one of India’s popular travel platforms, shared its first-quarter earnings report and the company that is already facing troubles due to the pandemic took another blow. Due to its failed merger with Ebix, Yatra.com has paid $2.2 million in legal fees. The company saw an adjusted EBITDA loss of $4.1 million for the April-June quarter. The losses are nearly double of what it posted last year at $2.7 million. “There was an adverse impact of ₹168.4 million ($2.2 million) on our operating performance in the current quarter due to legal and professional fees related to the merger transaction with Ebix, Inc. Excluding such fees, our Adjusted EBITDA loss would have been ₹141.0 million ($1.9 million),” said Dhruv Shringi, co-founder and CEO of the company in a statement. Yatra.com’s grand merger worth $337 million with US-based software firm Ebix got called off in June 2020, and the matter is currently in court. Yatra had filed a case in the state of Delaware, US, against Ebix for a breach of the agreement. But the legal troubles come at a time when the company is reeling under pressure, with travel and tourism taking a hit due to the COVID-19 pandemic. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Yatra segment </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;">Revenue in April-June quarter </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;">Year-on-year change </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;">Air ticketing revenue </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;">$2.3 million </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;">-85.2% </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;">Hotel booking revenue </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;">$0.2 million </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;">-94.9% </td></tr></tbody></table> However, Shringi said that the company has “enough capital to withstand a prolonged slowdown in the travel industry should that occur”. Yatra’s cost run rate has reduced <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">March 2020 </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;">May 2020 </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;">$2.7 million </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;">$1.2 million </td></tr></tbody></table> Latest bet at diversification The company has also diversified its offerings. In July, the company said that the platform is evolving from being a travel services provider to a digital services platform. Yatra.com’s latest offerings will focus on the corporate side and small businesses. These include expense management software, Artificial Intelligence-based smart space and safe space solution which will also ensure contact tracing at a workspace, online platform for consumable sourcing for hotel partners. The company is also working with NanoTech Company – Neo Dot which identifies body temperature with a change in colour and will be helpful in crowded spaces. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a> <a href="https://www.businessinsider.in/business/news/covid-19-and-a-failed-merger-alter-yatras-journey-the-offerings-look-a-lot-different-now/articleshow/77233422.cms">Covid-19 and a failed merger alter Yatra’s journey – the offerings look a lot different now</a>

Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter

<ul><li><keyword id="6362992" type="General" weightage="20" keywordseo="yatra" source="Orion">Yatra</keyword> is looking to go public in India to raise ₹750 crore.</li><li>The company mentioned that its heavy reliance on <keyword id="44023" type="General" weightage="20" keywordseo="airlines" source="Orion">airlines</keyword> may be a risk factor.</li><li>It currently earns close to 70% of its revenue just by selling air tickets.</li></ul>There is no denying that the last couple of years have been extremely tough on the global travel and tourism industry. Whenever the segment started to make a little recovery, they would once again be hit by a new COVID-19 variant and another deadly wave. While everyone hopes that the worst of the pandemic is behind us, Yatra.com may have a little more to worry about. Yatra, which is now looking to go public in India to raise ₹750 crore, has revealed that its heavy dependence on air ticketing business and airline supplier relationship is one of the risk factors to its business. The reason simply being the financial conditions of the Indian aviation industry. The airlines and airports in India incurred an estimated loss of ₹19,564 crore and ₹5,116 crore in 2022-2021 due to several disruptions caused by the global pandemic, the government of India revealed in December 2021. Another <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/domestic-aviation-industry-will-need-up-to-rs-35000-crore-additional-funding-in-fy21-23-icra/articleshow/75742002.cms?from=mdr">report</a> by Investment Information and Credit Rating Agency of India (ICRA) revealed that the domestic aviation industry will require an additional funding worth ₹32,500 crore to ₹35,000 crore during fiscal year 2021-23 to overcome the impact of the pandemic. The report added that airlines were losing ₹75-90 crore on a daily basis during the COVID-19 lockdown. The industry level debt was also expected to increase to ₹46,500 crore over FY2021-22, the report noted. <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;">Airlines </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;">Net Debt </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;">Year </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;">SpiceJet </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;">₹10,400 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;">FY2021 </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;">Air India </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;">₹61,562 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;">August 2021 </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;">IndiGo </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;">₹29,859 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;">FY2021 </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;">GoAir </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;">₹7,346 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;">December 2021 </td></tr></tbody></table>Source: Statista, Air India, IndiGo, GoAir The situation of Indian airlines could impact Yatra A report by ResearchGate<a href="https://www.researchgate.net/publication/341768345_Financial_Distress_in_Indian_Aviation_Industry_Investigation_Using_Bankruptcy_Prediction_Models"> mentioned </a>that the Indian aviation sector has shown significant growth prospects in the last few years, but the financial performance of most of the air carriers individually is not at all “impressive”. “Every five years one airline in India is being grounded…,” the report added. Jet Airways was grounded in 2019 and will now be <a href="https://www.businessinsider.in/business/news/meet-sanjiv-kapoor-the-new-ceo-of-jet-airways-2-0/slidelist/89987676.cms">making a re-entry</a> three years later next month. Yatra Online Limited, in its draft red herring prospectus (DRHP) revealed, “We are exposed to risks associated with these Indian businesses which risks have recently been heightened by the COVID-19 pandemic, including bankruptcies, restructurings, consolidations and alliances of its partners, the credit worthiness of these partners, and the possible obligation to make payments to our partners. For example, the Indian airline industry has experienced significant losses and has undergone bankruptcies, restructurings, consolidations and other similar events.” The company also cited the example of Jet Airways whose bankruptcy and cessation of operations negatively impacted Yatra’s revenue. The Jet Airways bankruptcy — or any future bankruptcies or increased consolidation in the airline industry — could create challenges for the company and reduce the profitability of its airline ticketing business, the company said. But it gets worse Yatra Online Limited generated over 70% of its business from air ticketing in the fiscal year 2021 and nearly 66% in the first half of fiscal year 2022. Any reduction in the profit margins in air ticketing could have a larger impact on Yatra’s revenue and profitability. <div type="image" title="Yatra.com’s biggest source of revenue is also its biggest risk" msid="90570411" hostid="261"></div> To make matters worse, a substantial portion of Yatra Online Limited’s revenue comes from only four domestic airlines. Even though it provides access to 407 airlines, seven domestic and 400 international airlines. These include domestic flights like Air Asia, Air India, Air India Express, Go First, IndiGo, SpiceJet, Vistara, and international airlines such as Air France-KLM, British Airways, Emirates, Etihad Airways, Lufthansa, and others. “Because the majority of the domestic Indian air travel industry is concentrated among these four domestic airlines, any adverse market developments across the Indian commercial aviation landscape, particularly among the most dominant domestic airlines are more likely to impact our business,” the company said in its DRHP. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-may-soon-become-the-third-largest-credit-card-player-after-hdfc-bank-and-sbi-post-the-citibank-deal/articleshow/90563751.cms">Axis Bank may soon become the third largest credit card player after HDFC Bank and SBI post the Citibank deal</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-and-gautam-adanis-net-worth-is-now-more-than-100-billion/articleshow/90564692.cms">Mukesh Ambani and Gautam Adani are now worth more than $100 billion</a> <a href="https://www.businessinsider.in/tech/news/dysons-new-headphones-with-an-air-purifier-bank-on-peoples-masking-habits/articleshow/90561834.cms">Dyson's new headphones with an air purifier bank on people’s masking habits</a>

Yatra.com’s biggest source of revenue is also its biggest risk

Ever since <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms">OYO Rooms</a> and <keyword id="2825269" type="UNKNOWN" weightage="20" keywordseo="Zo-Rooms">Zo Rooms</keyword> made its foray in India’s holiday map, things seem disrupted for online travel agencies including <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword>, Goibibo and Yatra. With incredible schemes on offer, OYO and Zo were hitting a new low in hotel prices. 
 
However things didn’t go as expected. Feeling jittery on the advancement of these budget-hotel aggregators, the online travel agencies have decided to jointly block them, a news report in The Economic Times has confirmed. 
 
 "MakeMyTrip has temporarily de-listed <keyword id="2550719" type="UNKNOWN" weightage="20" keywordseo="OYO-Rooms">OYO Rooms</keyword> from its platform. Zo Rooms is also getting delisted... and will be off from listings by tomorrow (Wednesday)," a MakeMyTrip spokesperson told the ET. 
 
Defeated but not destroyed, Kavikrut, chief growth officer at <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms">OYO Rooms</a>, said the ET, " Online travel agencies have been a longstanding business channel for us, but in current scenario it contributes to less than 10% of business.” 
 
"There will be a small dip in bookings, but our growth from our app and other associations will more than make up for it," he added. "This transition is not a shock for us," Paavan Nanda, cofounder at Zo Rooms told the ET. "Our <a href="http://www.businessinsider.in/searchresult.cms?query=growth">growth is mostly driven by our app</a> and website." 
 
 
At a time when OYO Rooms and Zo Rooms <a href="http://www.businessinsider.in/searchresult.cms?query=fund+raising+">are readying more rounds of funding</a>, this move might be discouraging for the hotel aggregators. On the other hand, hotels are a place where the online agencies earn the most. Rivals Oyo and Zo taking a toll on their business would never be tolerated. 
 
"This is a clear move to prevent further erosion of market share. Hotels have the maximum margins for online travel agencies and given that these portals (like OYO and Zo) are selling standardised rooms at a much lower cost, it immediately marks a threat," an investor in the budget-hotel <a href="http://www.businessinsider.in/searchresult.cms?query=aggregation+sector+">aggregation sector</a> on the condition of anonymity told the ET. 
 
OYO Rooms has expanded its network from 12,000 rooms across 1,200 properties in 73 cities to 30,000 rooms in over 3,000 properties in 135 destinations in India, as per thee ET report. Zo Rooms has aggressively expanded its network to 11,000 rooms in 1,000 hotels across more than 50 cities and towns in India. 
Both the aggregators have been standardising service levels of small hotels. Taking into the fold, small unbranded hotels, the aggregators have been assuring owners a lump some profit.

​Online travel agencies have just mass blocked Oyo Rooms and Zo. Here’s why

Sawan, also known as <keyword id="22504686" type="General" weightage="20" keywordseo="Shravan" source="keywords">Shravan</keyword>, is one of the most auspicious months in the Hindu calendar. According to Drik Panchang, in 2024, Sawan begins on July 22 and ends on August 19. This year, Sawan will be observed for 29 days, featuring five Mondays, known as Sawan Somwars. These Mondays are particularly significant for devotees who observe fasts and engage in prayers dedicated to <keyword id="20013189" type="General" weightage="20" keywordseo="Lord-Shiva" source="keywords">Lord Shiva</keyword>. <h2>Significance of Sawan Month</h2>Shravan is considered the holiest month in the Hindu calendar and is dedicated to Lord Shiva. It is believed that during this time, the cosmic alignment is such that divine energies are more accessible, and prayers reach the divine with greater potency. Devotees undertake various spiritual practices, including fasting, offering prayers, and performing rituals to seek the blessings of Lord Shiva. The observance of Shravan Somwar, or fasting on Mondays, holds special significance as Mondays are considered sacred to Lord Shiva. <h2><keyword id="22484805" type="General" weightage="20" keywordseo="Sawan-Somwar" source="keywords">Sawan Somwar</keyword> Calendar 2024</h2>In 2024, the Sawan month will feature five Mondays, each marking a special occasion for devotees to observe fasts and participate in rituals. Here is the detailed Sawan Somwar calendar: July 22, 2024 - Sawan Begins (First Shravan Somwar vrat) July 29, 2024 - Second Shravan Somwar vrat August 5, 2024 - Third Shravan Somwar vrat August 12, 2024 - Fourth Shravan Somwar vrat August 19, 2024 - Sawan Ends (Last or Fifth Shravan Somwar vrat) <h2>Historical and Mythological Significance of Sawan</h2>The month of Shravan is steeped in mythology and historical significance. According to Hindu scriptures, several important events are believed to have occurred during this month: Samudra Manthan: One of the most famous legends associated with Shravan is the churning of the ocean, or Samudra Manthan, by the Devas and Asuras to obtain Amrit (the nectar of immortality). During this process, a deadly poison called Halahala emerged, which had the potential to destroy the universe. Lord Shiva consumed the poison to save the world, and it turned his throat blue, earning him the name Neelkanth. This act of selflessness is commemorated during the month of Shravan. Marriage of Lord Shiva and Goddess Parvati: Another significant event celebrated during Shravan is the divine marriage of Lord Shiva and Goddess Parvati. According to mythology, Goddess Parvati undertook severe penance during Shravan to win the love and affection of Lord Shiva. Pleased with her devotion, Lord Shiva accepted her as his consort, and devotees celebrate their union this month. That’s why it is considered very auspicious to undertake fasting every Monday of the month. Kanwar Yatra: The Kanwar Yatra is a significant pilgrimage undertaken by devotees, known as Kanwariyas, who carry water from the holy Ganges River to offer it to Shiva temples. This ritual is performed as an act of devotion and penance. <h2>Rituals practised during Sawan</h2>Devotees observe various rituals and practices during the month of Shravan to seek blessings from Lord Shiva: Fasting: Observing fasts on Sawan Somwars is a common practice. Devotees often consume only water or fruits and avoid consuming grains and cereals. Abhishekam: Performing Abhishekam, or the ceremonial bathing of Shiva Lingam with water, milk, honey, and other sacred substances, is a significant ritual. It is believed that offering Abhishekam pleases Lord Shiva and grants his blessings. Chanting and Prayers: Devotees chant mantras and prayers dedicated to Lord Shiva, such as the Maha Mrityunjaya Mantra and the Shiva Chalisa. Participating in Shiva Aarti (devotional song) is also common. Visiting Shiva Temples: Visiting Shiva temples and offering prayers is an integral part of Shravan observance. Many devotees undertake pilgrimages to prominent Shiva temples during this month. <div type="Article" hostid="261" msid="104016440" title="Discover the 7 most famous Shiva temples in India you must visit once" mstype="2" mssubtype="0"></div><h2> </h2><h2>Puja Vidhi</h2>Devotees who are fasting on Sawan Somwar (Sawan Monday) should wake up early, take a bath, and put on clean, new clothes. Afterwards, they should clean their home and the temple or puja room. The worship of the Shivlinga can be done either by visiting a temple or performing the ritual at home. This involves performing Abhishekam (ritual bathing) of the Shivlinga, applying white sandalwood to Lord Shiva, and offering bhang, dhatura, and bilvapatra (leaves). They should then light a ghee lamp or diya, listen to the story about the Sawan Somwar fast, and perform aarti (a devotional song) for Lord Shiva and Maa Parvati. It is important to perform the puja both in the morning and in the evening. <h2>Mantras you chant during Sawan</h2>1. Om Tryambakam Yajamahe Sugandhim Pushti Vardhanam Urvarukamiva Bandhanan Mrityor Mukshiya Maamritat 2. Om Namah Shivay 3. Om Namah Parvati Pataye Har Har Mahadev The month of Shravan, or Sawan, holds immense significance in Hinduism as a period of intense devotion and spiritual practices dedicated to Lord Shiva. The observance of Sawan Somwars, fasting, and performing rituals are ways through which devotees seek the divine blessings of Lord Shiva. In 2024, with Sawan beginning on July 22 and ending on August 19, devotees have a special opportunity to deepen their spiritual connection and experience the divine grace of Lord Shiva. SEE ALSO: <a href="https://www.businessinsider.in/travel/india/article/top-temples-to-visit-in-india-you-must-visit-atleast-once-in-a-lifetime/articleshow/109857477.cms" data-type="tilCustomLink" target="_blank">Top temples to visit in India you must visit atleast once in a lifetime</a>

Sawan 2024: Dates, somwar calendar, significance and rituals practised during Sawan

Driven by UPI-based transactions, about 81 per cent of consumers intend to shop online during this festive season in India, while one in two consumers are willing to increase their spending compared to last year, a new survey report showed on Monday. Digital payment methods are on the rise, with 42 per cent of consumers saying they will choose unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-for online festive shopping. In addition, 57 per cent indicated that their preferred digital payment method for earning rewards and cashback is UPI, especially during the festive season. About 75 per cent are interested in buying electronic gadgets and products (smartphones, TVs, refrigerators and ACs), luxury and authentic beauty brands, home furnishing/improvement items and consumables, online, according to the report by <keyword id="17495816" type="General" weightage="50" keywordseo="nielsen-media-india" source="Orion">Nielsen Media India</keyword>, on behalf of Amazon India. The survey said that 87 per cent of consumers in metropolitan cities and 86 per cent across tier-2 cities (population 10-40 lakh) prefer to shop online for the festive period. "We are inspired to learn that consumers this year are excited and willing to spend and shop more online. As a marketplace, we are confident that the 'Amazon Great India Festival 2023' will offer a seamless shopping experience, incredible value and the widest selection of domestic and international brands and products," said Manish Tiwary, Country Manager India Consumer Business, Amazon India. More than 70 per cent of consumers wait for online festive shopping events to purchase electronic items. Over 75 per cent of consumers are excited with attractive bank offers and no-cost EMIs for making their purchase more convenient and rewarding, said the report. Around 80 per cent consumers said online festive shopping events provide access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 per cent sharing their intent to purchase across these categories this festive season. Driven by about 140 million shoppers, India is likely to witness Rs 90,000 crore worth of online gross merchandise value (GMV) in the festive month this year. This is up 18-20 per cent from last year's festive month sales, according to a recent report by market research firm Redseer Strategy Consultants. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank">Shubman Gill becomes fastest to score six ODI centuries for India by a mile</a><a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank">Pixel 8 launch on Oct 4 – From camera to design specifications, what we know so far</a><a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank">Yatra Online IPO allotment – how to check allotment, GMP, listing date and more</a>

UPI set to drive festive sales this year, electronics to be top choice again: Report

<ul><li>IT companies may not be hiring talent as slowdown curbs growth, but employees continue to search for jobs online. Naukri’s monthly active users at 12.1 million. </li><li>Cricket continued to give a boost to online food ordering apps in March. Daily active users online continue to increase month-on-month. </li><li>Despite the popularity of dating apps, young Indians continue to frequently visit online marriage portals and apps to find their true love. Matrimony apps see a jump in monthly and daily active users in March. </li></ul>On the face of it, there may be little or no connection between the white willow and online food ordering, but data shows that women in blue made Indians rather hungry in the month of March. And yes, most Indians also are as keen on marriage as ever, with matrimonial portals continuing to see higher month-on-month user metrics and app downloads. Three years after the pandemic struck, Indians are still addicted to their apps and are still looking for their dream job, if they are not planning their next vacation. From ordering food online to looking for jobs and homes online, Indian consumers are not putting the brakes on their online purchases just yet, even after the economy opened up completely post the lockdowns. App downloads continued in March as did higher monthly traffic across key consumer tech platforms. In the month of March, monthly and daily active users continued to surge across apps catering to consumer needs like online food ordering, travel, property rentals/purchases, groceries or even jobs. Yes, job searches have seen an unprecedented surge in the month of March shows data from Sensor Tower’s monthly data print. Leading technology services players may have slowed down on hiring, but employees are still flocking to job portals. According to a report by Bank of America, Naukri maintained its totem pole position in MAUs (monthly active users) with 12.1 million (+7.2% month on month) users and witnessed increase in daily active user base at 2.1 million (+6% MoM) in <keyword id="10294782" type="General" weightage="20" keywordseo="march-2023" source="Orion">March 2023</keyword>. LinkedIn has the highest DAUs or daily active users at 3.7 million and is a clear leader in terms of user retention at 33% followed by Naukri at 18%, says the report. Data shows that consumer apps have continued to see good traction in the month of March 2023 compared to February. What consumers have been interestingly visiting less frequently —- are the beauty apps like Nykaa and Purplle — whose traffic is down month-on-month. Beauty brands believe that omnichannel and physical store visits are the reason for the decline in online purchases. Food delivery &amp; grocery continue to see demand According to Bank of America’s India Internet report, a majority of online food delivery apps saw an increase in fresh app downloads and user metrics, while Swiggy saw a marginal decline in fresh downloads. Online food delivery apps launched special match day games to increase engagement, which resulted in higher ordering too. While Zomato launched ZPL prediction, Swiggy launched Match Day Mania. Not surprising that monthly active users of Zomato and Swiggy grew 4.9%/4.6% MoM to 53 million/35 million. Daily active users for both Zomato and Swiggy increased 2-3% MoM to 6.1 million/4.4 million, respectively. Domino’s Pizza continued to be third in all metrics. Swiggy showed a higher retention at 13% vs Zomato at 11%. Real estate continues to be hot property online Housing continued to see the highest online traffic, as searches for rented and ownership continued to jump. Both monthly active users and app downloads were healthy for online players. Monthly active users increased sequentially for all the apps catering to housing, while daily active users grew for 99acres and Housing. Traffic on Magicbricks remained stable. Monthly active users on 99acres MAUs witnessed steep growth +14.3% compared to February. In terms of user retention, Housing continues to lead at 11%, followed by 99acres and Magicbricks at 9%. Revenge travel is still a big deal With the onset of summer, consumers are planning their next trip, which has resulted in strong traction for online travel apps like Cleartrip and Makemytrip. User metrics improved for Cleartrip, GoIbibo and MakeMyTrip; while Yatra and EaseMyTrip witnessed a decline, says Bank of America. MakeMyTrip monthly and daily users inched upwards (+9%/4% MoM) ahead of the upcoming summer holiday season in May/June 2023. Cleartrip MAUs/DAUs both grew 44.8% MoM to 1.3 million /0.1 million, respectively, majorly driven by launch of bus services in over 90 cities and various offers like zero convenience fees and flat 10% off on all bus bookings. MakeMyTrip continues to be the leader in MAUs, DAUs and retention; with 15.8 million MAUs/1.5 million DAUs while Goibibo has 8.5 million MAUs/ 0.7 million DAUs. High five for fashion apps As social distancing has given way to more contact intensive interactions, demand for fashion apparel has also increased meaningfully. Consumers continue to look for bargains online and Ajio’s All Star sale has delivered the numbers. According to data, Ajio’s monthly active users showed a sharp increase sequentially as downloads of the app increased. Ajio’s MAU/DAU base rocketed 22%/26% sequentially. Myntra/Nykaa Fashion’s MAU base improved 3% MoM each while DAU base saw a slight 1-2% decline. In terms of user retention, Myntra is at 17% followed by Ajio at 16%, says the report. Marriages are forever Young Indians continue to look for their perfect partner. User metrics and downloads witnessed an increase across all apps. Shaadi.com continued to be a leader with monthly and daily active users at 9 million/2.9 million, respectively in March 2023. Jeevansathi’s monthly numbers grew 13% month-on-month, while daily users increased by 8% compared to February. BharatMatrimony user metrics remained largely stable. Jeevansathi has the highest user retention at 34% followed by BharatMatrimony at 33%. SEE ALSO <a href="https://www.businessinsider.in/stock-market/markets/news/-some-sectors-will-benefit-from-lower-energy-prices-in-fy24-a-balasubramanian/articleshow/99722850.cms">Earnings to remain volatile in FY24, but some sectors will benefit from lower energy prices, says Aditya Birla Sun Life MF’s CEO A Balasubramanian</a> <a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

<ul><li>The ₹510 crore IPO of EaseMyTrip is now open for public subscription.</li><li>The best thing about the travel aggregator is the cost-conscious model that sets it aside from other travel aggregators in India.</li><li>Being bootstrapped, the management of the company has tended to be extremely cost-conscious, and this has enabled them to be profitable since inception, said a Ventura report.</li><li>According to Choice Broking, Easy Trip has been profitable since its inception and is the only profitable company among the key OTAs.</li><li>The ICICI Direct report highlighted that taking cognisance of the huge growth opportunities for EaseMyTrip and a lean cost of operations would aid the flow of profitability to the bottom line.</li></ul>From the Indian government-run companies RailTel and IRFC to the most successful IPO of 2021 MTAR Technologies — the IPO bonanza doesn’t seem to be ending soon. Next in the line is the bootstrapped online travel aggregator, EaseMyTrip, making its way to the public markets. The ₹510 crore IPO of EaseMyTrip is now open for public subscription. The company is an exception among a large pool of internet companies, which have tried to get listed — EaseMyTrip has bootstrapped its way to the public markets. The online travel agency (OTA) offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, hotels, and much more. The best thing about the travel aggregator is the cost-conscious model that sets it aside from other travel aggregators in India. “Being bootstrapped, the management of the company has tended to be extremely cost conscious and this has enabled them to be profitable since inception. Their primary driver of business is that they do not charge a convenience fee and this is what sets them apart from their peers like Make My Trip, Yatra and ClearTrip,” said Ventura in an IPO note. And that’s why nearly every analyst on the street has a ‘subscribe’ rating on the IPO. Street’s view on EaseMyTrip’s ₹510 crore IPO: Subscribe <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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking House </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GEPL </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </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;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> Here's what makes the IPO hot! Lean, cost-efficient operations set it aside from peers According to an ICICI Direct report, EaseMyTrip, owned by Easy Trip Planners Ltd (ETP), had the lowest number of employees among India's key online travel agencies as of March 31, 2020. The company has developed a streamlined, efficient and lean organisation structure relative to the size of its business operations. The advanced technology infrastructure and operating systems focused on optimal human resource allocation, minimising operational and systematic errors and enhancing customer satisfaction have resulted in reducing administration costs while increasing employee productivity and operating efficiencies. <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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Easy Trip Planners </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MakeMyTrip </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra Online </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customer Promotion Expense as a % of Gross Booking Revenue </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.00% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.93% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.74% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee Expense as a % of Gross Booking Revenue </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.72% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.13% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other Operating Expense as a % of Gross booking revenue </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.27% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.60% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.01% </td></tr></tbody></table>*Source: Ventura “We believe this has enabled ETP to maintain healthy profitability in the past few years,” the report added. Highest growth rate in terms of gross booking revenue and operating revenues among the Key Indian OTA’s According to Choice Broking, Easy Trip has been profitable since its inception and is the only profitable company among the key OTAs with a positive return on equity (RoE) and return on capital employed (RoCE). The company’s profit had grown from ₹3 lakh in 2018 to ₹32.9 crores in 2020. <div type="image" title="EaseMyTrip" msid="81387653" hostid="261"></div> As per the red herring prospectus, in terms of annual growth in operating revenues during FY 2018 to FY2020, Easy Trip recorded the fastest growth at a compound annual growth rate (CAGR) of approximately 19%, among key online travel agencies in India like MakeMyTrip Limited and Yatra Online. The sector is poised to grow According to Ventura, the company has increased its market share from 3.1% in FY18 to 4.6% in FY20 and has been ranked second among key OTAs in India based on booking volumes. The online penetration, defined as a share of bookings done online through websites of the service providers or through online travel agencies (OTAs), of the Indian travel industry accounted for 56-58% in FY20. The analysts further expect the share of online penetration to 67-68% in FY23, supported by growth in online transactions due to the Covid-19 pandemic. Justified valuations The ICICI Direct report highlighted that taking cognisance of the huge growth opportunities for EaseMyTrip and a lean cost of operations that would aid the flow of profitability to the bottom line — “it is an attractive issue.” According to Choice Broking, the company is available at a P/E of 65.3x on FY20 numbers — “which is reasonably priced”. The price-to-earnings (P/E) ratio shows the price that the market is willing to pay for a stock based on its earnings. Higher the P/E, the more expensive the stock. 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Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip

Good morning, Insiders. Today we're talking about why energy stocks have performed so poorly during the first quarter of the year. April Fool's. The energy sector dramatically outperformed the broader market in the first three months of the year. Let's jump in.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3"></a>1. Energy stocks dominated in the first quarter. The<a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3"> top 20 gainers</a> in the S&amp;P 500 over the last three months were almost exclusively oil and gas stocks. The energy sector within the index jumped about 40% as <a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3">energy prices soared</a> on supply concerns following Russia's invasion of Ukraine. The broader<a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets"> S&amp;P 500</a>, however, was dragged into a correction during the period but pared its loss to about 4% for the quarter. All three of the major indexes saw their <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-negative-quarter-pandemic-oil-biden-2020-2022-3">first negative quarter</a> in two years, since the start of the COVID-19 pandemic. Since Russia invaded Ukraine, energy prices have soared, yanking stock prices up with them. The top gainers on the broad-equity index included the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-occidental-petroleum-energy-stock-earnings-call-2022-3#:~:text=Warren%20Buffett's%20Berkshire%20Hathaway%20invested,more%20than%20%245%20billion%20today.">Buffett-backed Occidental Petroleum</a>, as well as <a href="https://markets.businessinsider.com/stocks/hal-stock">Halliburton</a>.Oil prices plummeted Thursday, however, as the Biden Administration weighed the <a href="https://markets.businessinsider.com/news/commodities/oil-price-reserves-biden-spr-russia-ukraine-opec-china-energy-2022-3">largest-ever release</a> from the strategic reserves. The decision is set to push through, and the approval will greenlight the release of as much as 180 million barrels over six months from its official stockpiles.<a href="https://www.businessinsider.com/tesla-bull-stock-split-electric-vehicle-retail-investor-elon-musk-2022-3"></a><div type="image" title="Tesla Model 3" height="1250" width="2500" msid="90592131" hostid="261"></div>In other news:2. US futures are edging higher ahead of non-farm payrolls later. Stocks capped off their first negative quarter since before the COVID-19 pandemic began. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-us-stock-futures-equities-shares-crypto-nfp-2022-4">Here is your markets round-up.</a>3. Earnings on deck: Yatra Online, Charah Solutions, and Icanic Brands Company, <a href="https://markets.businessinsider.com/earnings-calendar">all reporting</a>.4. One of Tesla's biggest bulls explained why its second stock split in two years is just one of many catalysts driving shares higher this year. The 30-year Wall Street veteran and Goldman Sachs alum said that <a href="https://www.businessinsider.com/tesla-bull-stock-split-electric-vehicle-retail-investor-elon-musk-2022-3">the EV giant would still be cheap at $1,600 per share in the next six to 12 months. </a>5. The original meme stock is back and this time, with a split. GameStop is up 15% in the pre-market after announcing its first stock-split in 15 years. <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-stock-split-reddit-shareholder-approval-meme-stock-2022-4">Read more here.</a>6. Putin threatened to shut off gas exports to countries that don't pay in rubles starting April 1. "Unfriendly countries" will be required to open Russian bank accounts where their foreign-currency payments for gas will be converted to rubles. <a href="https://markets.businessinsider.com/news/currencies/russia-gas-putin-exports-rubles-supplies-payments-halt-europe-2022-3">But the Kremlin has offered some wiggle room. </a>7. Mohamed El-Erian said Russia's war is pushing investors into private <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> as they look to boost returns and limit risks. The threat of financial tightening, inflation, and geopolitical tensions have created massive uncertainty for markets, El-Erian wrote in an op-ed. <a href="https://markets.businessinsider.com/news/stocks/russia-war-private-markets-shift-inflation-fed-mohamed-el-erian-2022-3">He explained why stocks remain the best asset. </a>8. BlackRock bond chief Rick Rieder said the market is going through a shift he hasn't seen in a decade. He's seeing far more bond market opportunities as rates rise and prices drop. He shared what he's buying — <a href="https://www.businessinsider.com/investing-strategy-bond-buying-fixed-income-blackrock-rick-rieder-2022-3">and what he thinks investors should focus on instead of worrying about the yield curve inversion.</a>9. Wall Street's top stock-pickers are backing these bitcoin mining companies as tokens rally to erase 2022 losses. These stocks in the crypto mining sector can benefit from bitcoin's March bounce, according to TipRanks' analyst consensus metric. <a href="https://www.businessinsider.com/bitcoin-how-to-mine-crypto-stocks-to-buy-analysis-tipranks-2022-3">See the full list.</a><a href="https://markets.businessinsider.com/news/currencies/crypto-price-outlook-upside-limited-stablecoin-ownership-falls-bitcoin-ether-2022-3"></a><div type="image" title="Stablecoins" height="601" width="818" msid="90592133" hostid="261"></div>10. Further upside in crypto is limited, according to JPMorgan, because stablecoin ownership is in decline. The share of stablecoins in the total crypto market have fallen to 7% from 10% — <a href="https://markets.businessinsider.com/news/currencies/crypto-price-outlook-upside-limited-stablecoin-ownership-falls-bitcoin-ether-2022-3">and the bank said the recent crypto rally is likely on its last legs.</a>Keep up with the latest markets news throughout your day by checking out<a href="https://www.insider.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://www.insider.com/therefresh">Listen here.</a>Curated by Phil Rosen in New York. (Feedback or tips? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.)

10 things before the opening bell

<ul><li>Mukesh Ambani-led <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries shares hit a record high on Monday morning.</li><li>Analysts believe that <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>’s fundraise and the recent acquisition of Kishore Biyani’s Future Retail will give the company enough ammunition to take on global players like Amazon. </li><li>On Wednesday, Reliance had announced the first big cheque for its retail venture from the American PE firm Silver Lake.</li><li>The shares have rallied as Ambani is planning a Jio-like fundraising for his retail venture – Reliance Retail. </li></ul>Mukesh Ambani-led Reliance Industries shares hit a record high of ₹2356 on Monday morning. The shares have rallied as Ambani is planning a Jio-like fundraising for his retail venture – Reliance Retail. <div type="image" title="Reliance share price new 1." msid="78103136" hostid="261"></div> The recent rally has added to Ambani’s wealth as he takes the 7th spot in the world’s richest list with a net worth of $83 billion, according to <a href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index.</a> On September 9 (Wednesday), Reliance had announced the first big cheque for its retail venture from the American PE firm Silver Lake. The investment firm pumped in $1 billion into Reliance’s retail unit in exchange for a 1.75% equity in the company. But that’s not it. Reliance Retail is all set to raise a slew of <keyword id="6362476" type="UNKNOWN" weightage="20" keywordseo="investments">investments</keyword> just like <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>, and from existing investors of Jio only, a source told Business Insider. After the Silver Lake deal, PE firm KKR and Middle East sovereign funds Abu Dhabi Investment Authority, Mubadala, and Saudi Public Investment Fund are also in talks for an investment, added the source. <a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">Reports</a> also say that PE firm Carlyle may also invest $2 billion in the company. According to a <a href="https://www.timesnownews.com/business-economy/companies/article/ril-poised-to-raise-over-rs-60000-crore-from-15-stake-sale-in-retail-biz-jio-investors-pif-kkr-adia-may-pick-up-stakes/650253">report</a>, Reliance could give up a 15% stake in its retail arm – Reliance Retail Ventures Limited. Reliance Retail could raise as much as $5.7 billion at a valuation of about $57 billion (₹4.21 lakh crore). The current market value of RIL is ₹13.9 lakh crore, making the retail business worth about a third of the stock's worth. Analysts believe that Reliance Retail’s fundraising and the recent acquisition of Kishore Biyani’s Future Retail will give the company enough ammunition to take on global players like Amazon. “With higher cash balance, recent acquisition of retail &amp; wholesale business of Future Group along with stronger product portfolio and distribution reach, the company is well poised to give competition to Amazon in online space and other retailers,” said a report by IDBI Capital. Reliance Retail’s fundraising comes after Ambani’s Jio platforms raised over $20 billion from marquee funds and technology giants like Facebook and Google. SEE ALSO: <a href="https://www.businessinsider.in/business/news/yatra-failed-merger-with-ebix-dents-the-companys-earnings-in-an-already-troubled-quarter/articleshow/78031342.cms">Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter</a> <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms">Reliance Retail raises $1 billion from Silver Lake valuing the chain at $57 billion</a>

Reliance shares hit record high as retail business goes the Jio way to raise funds

<ul><li>The eight blasts in the country saw a death toll of 290. </li><li>Three big hotels were a target of the blasts, affecting tourists. </li><li>The island nation’s popularity as a tourist destination was already under pressure because of a political crisis and now it could be further affected.</li></ul>The eight blasts in <keyword id="6355572" type="LOCATION" weightage="20" keywordseo="sri-lanka">Sri Lanka</keyword> on Sunday saw the death toll rising to 290, with five Indians killed. Five-star hotels were among the main targets of the bombing that included Cinnamon Grand, Shangri-La and the Kingsbury in the capital Colombo. That is a direct hit to Sri Lanka’s travel and tourism industry. Sri Lanka Association of Inbound Tour Operators (SLAITO) President Harith Perera told <a href="http://www.sundaytimes.lk/article/1084683/tourism-early-casualty-from-sri-lankan-blasts">The Sunday Times</a> that this was the first time that hotels have been directly attacked. The island nation for long has been a favourite tourist destination especially after the end of a protracted civil war that ended a decade ago, bringing peace and tourists to the tropical country that is famous for its pristine beaches and several old tea plantations. According to reports, the Sri Lankan government had been looking at ramping up its efforts for tourism in the country. The government had plans to double the annual income from tourism from $3.5 billion in 2018 to $7 billion in 2019. "Although the tourist arrivals for the year 2018 fell slightly short due to the political instability we saw post 26th October, I think in terms of earnings we have reached the $3.5 billion target, Minister of Tourism Development, John Amaratunga had said to a <a href="https://economynext.com/Sri_Lanka_tourist_arrivals_up_10.3_pct_in_2018,_earnings_down-3-13043-7.html">local daily</a>. With the numbers already dwindling (the earnings from tourism in 2018 were 10.3% lower than 2017), the blasts could further lead to distrust among tourists. The political crisis in Sri Lanka began when Mahinda Rajapaksa was appointed as Prime Minister on 26 October 2018 before the formal dismissal of the current Prime Minister Ranil Wickremesinghe, resulting in two concurrent Prime Ministers. This resulted in escalated tensions in the country which also <a href="https://www.thehindubusinessline.com/news/world/sri-lanka-crisis-scares-tourists-in-fresh-hit-to-economy/article25427489.ece">scared off </a>tourists. However, Indian travel firms believe the impact will be temporary. Speaking to <a href="https://www.business-standard.com/article/international/impact-on-sri-lanka-tourism-post-attacks-may-be-short-lived-travel-firms-119042100302_1.html?1555882175">Business Standard</a>, Sharat Dhall, chief operating officer (B2C), Yatra.com said "The unfortunate attacks in Sri Lanka have happened just ahead of the peak summer travel season. Sri Lanka has always been a preferred travel option for Indian tourists. While it is early to quantify the impact of this incident on travel to the country, we anticipate a short term effect on bookings with some travelers preferring to shift to other destinations for their summer vacations." Indian airlines like Air India and IndiGo are also helping out tourists stranded in Sri Lanka by waiving off rescheduling and cancellation charges. See Also: <a href="https://www.businessinsider.in/sri-lanka-blasts-colombo-airport-advisory-after-terror-attack/articleshow/68975705.cms">Colombo airport asks passengers to check in four hours before flights after terror attacks in Sri Lanka’s capital</a> <a href="https://www.businessinsider.in/sri-lanka-blasts-foreign-offices-in-us-and-uk-issue-travel-advisories/articleshow/68975432.cms">Find shelter and exercise extreme caution, says US’ travel advisory after multiple blasts in Colombo, Sri Lanka</a>

The tragic blasts on Easter Sunday is just the start of a long weary summer for Sri Lanka's tourism industry

<ul><li>Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 250 points in early trade on Thursday led by gains in index majors Reliance Industries, ICICI Bank and amid positive cues from global markets. Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am. These were the top losers and gainers in the Nifty pack: <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;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </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;">Tata Motors </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;">Infratel </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;">SBI India </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;">Bajaj Auto </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;">Bajaj Finance </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;">Zee Entertainment </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;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr></tbody></table>*as of September 10, 9:30 am These are the top stocks that are buzzing in trade today: Bank of Baroda shares gain 3% PSU Bank stocks are rallying in trade today. Bank of Baroda is up 3%, along with Canara Bank gaining 2% and Bank of India 4%. RIL hits record high The shares of Mukesh Ambani owned Reliance Industries were trading 3% higher during the early trading hours on September 10. The shares had hit a record high mark by topping ₹2,200 a piece for the first time. <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">Reports </a>also indicate that after Silver Lake, investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund could be next in line to pick stakes in Reliance Retail Limited. Future Retail hits 5% upper circuit The shares of Future Retail were locked in a 5% upper circuit after the company lost nearly 40% of the stock value in the last one week, since the acquisition by Reliance Retail. The 5% jump came after <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">reports </a>indicated a potential investment for RIL retail arm Reliance Retail from investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund. Bharat Dynamics snaps two days of losses Bharat Dynamics snapped two-day loss and turned positive, gaining over 2% after the Indian government said it mobilised ₹776 crore by divesting nearly 13% in the company. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. Indiabulls Housing Finance opened 3% higher The shares of Indiabulls Housing Finance opened 3% higher after the company launched its qualified institutional placement (QIP) on Wednesday. Indiabulls Housing is looking to raise ₹1,000 crore and has set the floor price for the QIP at ₹206.70 per equity share. Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain ahead of PM Matsya Sampada Yojana. PM Narendra Modi will digitally launch the scheme today. The scheme will be aimed at the sustainable development of the fisheries sector in the country with an estimated investment of <a href="https://www.narendramodi.in/prime-minister-narendra-modi-to-launch-pradhan-mantri-matsya-sampada-yojana-on-10th-september-551321">₹20,050 crores for its implementation</a> during a period of 5 years. ICICI Bank, HDFC Bank IndusInd Bank and SBI trade in green The shares of Banking giants ICICI Bank, HDFC Bank, IndusInd Bank and SBI were trading in green today (September 10). The shares of ICICI Bank and HDFC Bank were up 1%, whereas SBI gained 2%. The Supreme Court of India is slated to hear petitions seeking a waiver of interest on loans under moratorium today. Tata Motors shares gain 3% The shares of Tata Motors gained 3% after the company emerged as a strong number third passenger vehicle (PV) brand by <a href="https://www.thehindubusinessline.com/companies/passenger-vehicles-tata-motors-emerges-as-no-3-helped-by-new-products-campaigns/article32562617.ece">sales after Maruti and Hyundai</a>. HUL trades in red after DCGI notice The shares of FMCG giant Hindustan Unilever Limited were trading nearly a percent lower after Central Drugs Standard Control Organisation (CDSCO) served a show-cause notice to the company over an advertisement of its Lifebuoy brand of hand sanitiser. In its advertisement, HUL claimed that the Lifebuoy immunity-boosting hand sanitiser improves immunity and helps fight coronavirus. SEE ALSO: <a href="https://www.businessinsider.in/business/news/yatra-failed-merger-with-ebix-dents-the-companys-earnings-in-an-already-troubled-quarter/articleshow/78031342.cms" data-type="tilCustomLink">Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms" data-type="tilCustomLink">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a>

Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.New York, London, and Hong Kong used to be the most competitive cities in which to be an investment banker.But as the heart of innovation has shifted toward one industry - technology and, more specifically, the internet - so too have the most exciting jobs for dealmakers. Here's <a href="http://www.businessinsider.com/what-it-means-to-be-an-internet-banker-2016-12">what it means to be a banker in Silicon Valley</a>.Elsewhere in finance news, Blackstone is <a href="http://www.businessinsider.com/blackstone-group-senfina-hedge-fund-2016-12">winding down its "big bet" hedge fund</a>. <a href="http://www.businessinsider.com/r-goldman-sachs-to-pay-120-million-over-attempted-isdafix-benchmark-manipulation-2016-12">Goldman Sachs will pay $120 million over attempted ISDAFIX benchmark manipulation</a>. And a former high-flying <a href="http://www.businessinsider.com/ex-blackrock-fund-manager-mark-lyttleton-sentenced-to-12-months-in-jail-for-insider-dealing-2016-12">BlackRock fund manager was sentenced to 12 months in jail for insider dealing</a>.Business Insider gained exclusive access to the Hudson Yards construction site with our 360 cameras. <a href="http://www.businessinsider.com/360-view-hudson-yards-futuristic-manhattan-nyc-neighborhood-2016-12">Check out the view</a>. Josh Barro has <a href="http://www.businessinsider.com/how-democrats-can-beat-trump-jobs-2016-12">eight ideas for Democrats to beat Donald Trump on jobs and wages</a>. And <a href="http://www.businessinsider.com/reconciliation-makes-trump-infrastructure-plan-harder-2016-12">Trump's huge investment in infrastructure is less likely to happen than many people realize</a>, according to Linette Lopez.In corporate news, <a href="http://www.businessinsider.com/nike-earnings-q2-2016-12">Nike beat on earnings and sales</a>, and <a href="http://www.businessinsider.com/fedex-q2-2017-earnings-2016-12">FedEx whiffed on earnings</a>. And the Senate just released a massive report on drug pricing - <a href="http://www.businessinsider.com/senate-aging-committee-report-on-drug-pricing-2016-12">here's what you need to know</a>.Here's when <a href="http://www.businessinsider.com/2017-us-market-holiday-hours-calendar-2016-12">US markets are open and closed during each holiday in 2017</a>.Lastly, here are <a href="http://www.businessinsider.com/under-the-radar-places-to-visit-in-the-word-2-2016-12">75 under-the-radar places everyone should visit in the world</a>.Here are the top Wall Street headlines at midday<a href="http://www.businessinsider.com/fed-yellen-call-ruin-trump-fiscal-stimulus-2016-12">GOLDMAN SACHS: The Fed may ruin one of Trump's biggest plans for the economy</a> - President-elect Donald Trump promised on the campaign trail to return the US to 4% gross-domestic-product growth during his presidency.<a href="http://markets.businessinsider.com/news/etf/Investors-continue-to-pile-into-Americas-hottest-investment-product-1001620203">Investors continue to pile into America's hottest investment product</a> - Markets have embraced President-elect Donald Trump's victory, with the Dow flirting with an all-time high of 20,000.<a href="http://www.businessinsider.com/paul-krugman-trump-russia-fbi-2016-12">KRUGMAN: The 'America we knew and loved is gone'</a> - Paul Krugman, the Nobel-winning economist and liberal New York Times columnist, said Monday that he has lost faith in the future of the United States.<a href="http://www.businessinsider.com/existing-home-sales-november-2016-12">Existing home sales rise to their best level since the financial crisis</a> - Existing home sales rose more than expected in November, according to the National Association of Realtors. <a href="http://www.businessinsider.com/china-yuan-timeline-16-years-2016-12">TIMELINE: The rise and fall of China's currency</a> - The Chinese yuan has been in a controlled decline since 2014 and is now at multi-year lows against the US dollar.<a href="http://www.businessinsider.com/yatra-goes-public-on-the-nasdaq-2016-12">Here's the Indian travel company that just went public on the Nasdaq</a> - Indian travel portal Yatra went public on the Nasdaq on Monday, following the footsteps of its main rival MakeMyTrip, which had its initial listing on the tech-heavy exchange in 2010. <a href="http://www.businessinsider.com/reasons-to-like-japanese-stocks-for-now-2016-12">It's not too late to ride the rally in Japanese stocks</a> - Japan's stock market has outperformed its global peers in a second-half rally that is a reversal from a dismal first half.<a href="http://www.businessinsider.com/11-things-everyone-on-wall-streeters-needs-to-stop-wearing-asap-2016-12">11 things everyone on Wall Street needs to stop wearing ASAP</a> - Like any tribe, Wall Street has its own way of dressing, passed down from executives to managing directors, VPs to associates, and so on.

You Searched For "yatra earnings" and got 12 results

Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter

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Online travel agencies have just mass blocked Oyo Rooms and Zo. Here’s why

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Sawan 2024: Dates, somwar calendar, significance and rituals practised during Sawan

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UPI set to drive festive sales this year, electronics to be top choice again: Report

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Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

Malini Bhupta

Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip

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10 things before the opening bell

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Reliance shares hit record high as retail business goes the Jio way to raise funds

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The tragic blasts on Easter Sunday is just the start of a long weary summer for Sri Lanka's tourism industry

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Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

Navdeep Yadav

What you need to know on Wall Street right now

Business Insider

Popular Keywords

Buying Guides

You Searched For "yatra earnings" and got 12 results

Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter

Sanchita Dash

Yatra.com’s biggest source of revenue is also its biggest risk

Kritti Bhalla

​Online travel agencies have just mass blocked Oyo Rooms and Zo. Here’s why

BI India Bureau

Sawan 2024: Dates, somwar calendar, significance and rituals practised during Sawan

Ayush Mehrotra

UPI set to drive festive sales this year, electronics to be top choice again: Report

IANS

Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

Malini Bhupta

Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip

Navdeep Yadav

10 things before the opening bell

Phil Rosen

Reliance shares hit record high as retail business goes the Jio way to raise funds

Sanchita Dash

The tragic blasts on Easter Sunday is just the start of a long weary summer for Sri Lanka's tourism industry

Sanchita Dash

Top stock movers — Bank of Baroda, Reliance Industries, Future Retail, HUL, ICICI Bank, SBI, HDFC Bank, Bharat Dynamics, Tata Motors and more

Navdeep Yadav

What you need to know on Wall Street right now

Business Insider

Popular Keywords

Buying Guides

Online travel agencies have just mass blocked Oyo Rooms and Zo. Here’s why