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Markets at close: How the major indices and stocks fared on Friday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Sensex settled 336 points lower, or 0.82 percent, to close Friday’s trade at 40,794.

Indian shares ended lower on Friday, led by losses in state-owned banking and auto stocks, ahead of the government’s announcement of key economic data for the quarter to September. On a monthly basis, Sensex gained 1.66 percent and Nifty was up 1.5 percent in November.

Here’s a quick recap of how top market indices and stocks fared on Friday:

Frontline indices

Sensex: The Sensex settled 336 points lower, or 0.82 percent, to close Friday’s trade at 40,794. So far this year, the 30-share benchmark BSE index has surged over 13 percent, adding 4,725 points.

Nifty50: The Nifty50 lost 95 points, or 0.78 percent, to settle at 12,056. So far this year, the broader NSE index has been positive by 1193 points, or almost 11 percent.

Key stocks

Reliance Industries: The oil-telecom-retail conglomerates’ shares ended 1.84 percent lower, quoting at Rs 1,550.90 on NSE.

Tata Consultancy Services: The IT major settled 1.19 percent lower, closing at Rs 2,052.70 per share on NSE.

HDFC Bank: The private sector lenders’ shares settled 0.70 percent higher in trade today, quoting at Rs 1,274.25 on NSE.

Hindustan Unilever: The FMCG major’s stock closed at Rs 2,036.10 per share, ending 2.37 percent lower at close on NSE.

HDFC: The NBFC stock settled at Rs 2,295.95, down 0.60 percent.

Major sectors

Nifty Bank: The banking gauge settled 0.55 percent lower at 31,946, up 247 points at close. So far this year, Nifty Bank has gained over 17.5 percent.

Nifty IT: The IT index ended 0.82 percent higher to settle at 14,998. So far this year, it has gained almost 4 percent.

Nifty FMCG: The consumer goods gauge settled 0.92 percent lower at 30,975.50. So far this year, Nifty FMCG has gained 1.5 percent.

Nifty Auto: The index ended 1.15 percent lower to settle at 8,086. So far this year, it has corrected by almost 12.5 percent.

Nifty Metal: The metal index dropped 1.18 percent to settle at 2,625.50. So far this year, the index has lost almost 17 percent.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Closing Bell: Sensex, Nifty end lower ahead of Q2 GDP numbers, Sino-US trade deal uncertainty

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The benchmark 30-share S&P BSE Sensex settled 336 points lower, or 0.82 percent, at 40,794, while the broader 50-share NSE Nifty50 lost over 95 points, or 0.78 percent, to close at 12,056.

Indian shares ended lower on Friday dragged by banks, auto, and metal indices ahead of the Q2 GDP data later today. Investors remained cautious on expectations of slower economic growth in the September quarter and as rising uncertainty over a Sino-US trade deal hurt demand for risk assets. The benchmark 30-share S&P BSE Sensex settled 336 points lower, or 0.82 percent, at 40,794, while the broader 50-share NSE Nifty50 lost over 95 points, or 0.78 percent, to close at 12,056.

Among broader market indices, the Nifty MidCap 100 index ended flat in the green, while the Nifty SmallCap 100 index outperformed, rising 0.94 percent. Barring Nifty realty, all sectoral indices ended in the red with Auto, Media, Metal, Pharma and PSU Bank falling between 1 and 2.5 percent.

Bharti Infratel shares settled 6.7 percent higher leading Nifty gainers. Adani Ports, Bharti Airtel, HDFC Bank and NTPC were other top gainers, rising by up to 2.25 percent.

Zee Entertainment shares fell almost 8 percent, the worst performing scrip on Nifty today. Hindustan Unilever, Dr Reddy’s Labs, Tata Motors and M&M fell between 2 and 2.6 percent.

Bharti group shares and Vodafone Idea gained on the company’s plan to increase the prices of their services by up to 30 percent.

Indiabulls Housing Finance shares settled over 13 percent lower after the Ministry of Corporate Affairs (MCA) noted certain violations emerging from the inspection report.

Shares of Future group companies surged on Friday after the Competition Commission of India (CCI) approved Amazon.com NV Investment Holdings’ proposal to acquire about 49 percent share in Future Coupons, a Future Retail promoter group company. Future Retail and Future Enterprises rallied over 18 percent each on the Bombay Stock Exchange.

India’s GDP growth is likely to have dipped below 5 percent in the Q2FY20 owing to weak consumer demand, slowing manufacturing activity and negative impact from a prolonged monsoon. A CNBC-TV18 poll projected Q2 GDP growth of 4.64 percent, down from 5 percent in the Q1FY20 and 7 percent from the same quarter a year ago.

Broader Asian markets were also lower as investors feared that a new US law backing Hong Kong protests could derail efforts to end the Sino-US trade war. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.9 percent.

Also, catch all major highlights from the stock markets today with CNBC-TV18.com’s blog.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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SBI Cards IPO: Director unable to locate some education records, Sebi action against unit and other key risks listed in draft prospectus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

SBI Cards has not been able to obtain certain records of the educational qualifications of its Independent Director Dinesh Kumar Mehrotra.

An investment in equity markets carries a high degree of risk and needs to be carefully examined before a decision is made. In what could be India’s biggest IPO this fiscal, State Bank of India (SBI), the country’s largest public sector lender, has filed a draft prospectus with market regulator Security and Exchange Board of India (Sebi) to sell up to 4 percent stake in its credit card offshoot, SBI Cards and Payments Services (SBI Cards), to raise around Rs 9,600 crore through an initial public offering (IPO).

SBI Cards is the second-largest credit card issuer in the country, with 9.4 million outstanding cards as of the end of September. The 485-page draft prospectus for potential investors lists various risks and opportunities alongside financials of the firm.

Here are the major risks cited in the SBI Cards draft prospectus:

Due diligence of director: SBI Cards has not been able to obtain certain records of the educational qualifications of its Independent Director Dinesh Kumar Mehrotra and has relied on declarations and undertakings furnished by him for details of his profile included in this Draft Red Herring Prospectus.

Cutthroat competition: Competition in credit cards is also based on merchant acceptance and the value provided to the customer by rewards programs. As competitive pressures intensify, SBI Cards could be required to expend additional resources to offer a more attractive value proposition to our cardholders, which could negatively impact the company’s profit margins. These competitive factors may also affect its ability to attract and retain cardholders, slow down our credit card receivables growth and reduce revenue growth from core business.

High dependence on SBI: State Bank of India is SBI Cards’ largest customer referral partner, and the credit card company’s referral arrangements with SBI allows it to market its products and services to SBI customers by utilizing Promoter’s vast branch network. Any disruption in SBI Cards use of rights to the “SBI” brand and trademark for any reason could adversely impacts the company’s reputation, business, financial condition, results of operations and prospects.

Systemic risks: SBI Cards is also exposed to the systemic risks that could create an adverse market perception about Indian financial institutions and banks and materially adversely affect its business. Also, the cost of borrowings is sensitive to interest rate fluctuations, exposing the firm to the risk of reduction in spreads, on account of volatility in interest rates. In addition, transactions with financial institutions exposes the company to various risks in the event of default by a counter party, which can impact it negatively during periods of market illiquidity.

Sebi action against group firm: SEBI has initiated proceedings against SBI Funds Management Pvt ltd, one of SBI Cards group companies, in relation to certain non-compliances under securities related laws. The proceedings have been initiated pursuant to investigation by SEBI for alleged violations by SBI Funds of SEBI (Prohibition of Insider Trading) Regulations, 1992 and the SEBI (Prohibition of Insider Trading) Regulations, 2015. While, SEBI had issued show-cause notices, which have been responded to by SBI Funds, no orders have yet been passed by SEBI in relation to such show–cause notices.

ALSO READ | SBI Cards IPO: 10 vital things about India’s credit card market that the draft prospectus reveals

Unsecured credit: A substantial portion of SBI Cards’ credit portfolio is unsupported by any collateral that could help ensure repayment, and in the event of non-payment by a cardholder of their credit card receivables. As of March 31, 2017, 2018 and 2019, and September 30, 2019, 97.3 percent, 98.2 percent, 98.7 percent and 98.5 percent, respectively, of its credit card portfolio was unsecured.

Interchange fees: In India, the RBI has already implemented regulations limiting interchange fees payable on debit card transactions, and similar regulations could be extended to credit card transactions in the future. Credit card interchange fees are one of the largest components of SBI Cards total revenue from operations. Interchange fees comprised 21.1 percent and 21.9 percent of our total revenue from operations in the six months ended September 30, 2018 and 2019, respectively, and 22.5 percent in fiscal 2019, 21.5 percent in fiscal 2018 and 19.3 percent in fiscal 2017.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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SBI Cards IPO: 10 vital facts about India’s credit card market that the draft prospectus reveals

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

India’s credit card markets still remains largely under penetrated with the average number of credit cards outstanding per 100 persons in India at 2.2 as compared to 320.0 in the United States in 2017.

State Bank of India (SBI), the country’s largest public sector lender, has filed a draft prospectus with market regulator Security and Exchange Board of India (Sebi) to sell up to 4 percent stake in its credit card offshoot, SBI Cards and Payments Services (SBI Cards), to raise around Rs 9,600 crore through an initial public offering (IPO).  The IPO, which is awaiting regulatory approval, is set to be India’s biggest this financial year.

SBI Cards is the second-largest credit card issuer in the country, with 9.4 million outstanding cards as of the end of September. The 485-page draft prospectus is a barometer of the financial sector in India and sheds light on a raft of topics, including the evolution and salient features of the payments scene in India.

Here are 10 interesting data points:

  1. There are 74 credit card issuers in India, including the top-three Indian private banks (HDFC Bank, Axis Bank and ICICI Bank). However, India’s credit card markets still remains largely under penetrated. In 2017, the average number of credit cards outstanding per 100 persons in India was 2.2 as compared to 320.0 in the United States, 42.0 in China and 73.0X in Brazil, and credit cards spends as a percentage of GDP stood at 3.0 percent as compared to 17.0 percent in the United States, 25.0 percent in Hong Kong and 12.0 percent in Brazil.
  2. HDFC Bank is the market leader and has maintained its market share in the number of outstanding credit cards at approximately 27 percent over the years, followed by SBI Card at 18.0 percent, ICICI Bank at 14.0 percent and Axis Bank at 13.0 percent.
  3. SBI cards is the second-largest credit card issuer in India, with 17.6 percent and 18 percent market share of the Indian credit card market in terms of the number of credit cards outstanding  as of March 31, 2019 and September 30, 2019, respectively.
  4. The market share of SBI Card in terms of total outstanding cards has continuously increased over the years from 15 percent in fiscal 2014 to 18 percent in fiscal 2019.
  5. The next six players, after the top four, together accounted for 22 percent of outstanding credit card in fiscal 2019.
  6. New players such as RBL Bank have been emerging strongly mainly on the back of co-branded cards. RBL Bank now accounts for approximately 4 percent of the credit card market.
  7. Foreign players such as Citi Bank have been losing market share over the years from 13 percent in fiscal 2014 to 5 percent in fiscal 2019 owing to aggressive growth from private banks and new players in the  market.
  8. The government’s vision of a cash-less society, digitalization, developments in e-commerce, and growth in POS infrastructure have encouraged the use of credit cards.
  9. Credit card spends have expanded robustly, growing at  a  CAGR of 32 percent from fiscal 2015 to fiscal 2019, and growth is expected to continue to reach Rs. 15  trillion in total credit card spends for fiscal 2024.
  10. India’s median population age is estimated at 28.4 years in calendar year 2020. Indonesia and South Africa are the only countries which has median population age closer to India at 29.5 years and 27.6 years, respectively. Japan had the highest median population age of 48.4 years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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West Bengal byelection result 2019: NRC, Prashant Kishore swung bypolls in Trinamool’s favour

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The West Bengal bypoll results on Thursday brought to the fore the BJP’s organisational deficiencies, particularly its shortcomings in combating the Trinamool’s aggressive anti-NRC campaign.

The widespread panic over a probable future NRC and the way the ruling Trinamool Congress exploited the issue, election strategist Prashant Kishore’s booth-level micro-management and successful planning and strategising of the campaign as also a series of mass reach-out programmes proved decisive factors in the Mamata Banerjee-led party sweeping the bypolls to three West Bengal Assembly constituencies on Thursday.

In contrast, after the Lok Sabha high when it surprised pundits by picking up 18 of the state’s 42 Lok Sabha seats, the bypolls brought to the fore the BJP’s organisational deficiencies, particularly its shortcomings in combating the Trinamool’s aggressive anti-NRC campaign.

This, coupled with poor selection of candidates that led to dissatisfaction among the party rank and file, and the arrogant statements of some of its leaders saw a large section of people who voted for the BJP in the general elections turn their back to the saffron party, which was routed even in its citadels like Kharagpur Sadar and Kaliaganj.

Analysts, however, feel the Trinamool’s masterstroke in making the NRC almost the sole issue in seats like Kaliaganj and Karimpur led to a massive transfer of votes from the Congress-Left Front alliance to its fold.

Even a sizeable section of the votes of the Left Front and the Congress, which had gravitated to the BJP in the general elections, this time went to the Trinamool, as the alliance candidates forfeited their deposits in all the seats.

Even chief minister Mamata Banerjee, who did not take part in the bypolls campaign directly, in her press conferences and speeches on various occasions highlighted the National Register of Citizens (NRC) as a ‘big demon’ and announced umpteen times that her government would not allow the exercise in the state.

With Union home minister Amit Shah repeatedly declaring his party’s determination to come up with the NRC, the pitch was further queered for the BJP, as the state saw suicides and deaths of panicky people over the issue.

The state BJP leaders could realise the serious damage potential of the issue, and deliberately soft-pedalled the matter in their campaigns, while highlighting the party’s intent to come with the Citizenship Amendment Bill first, but that faded in the face of the Trinamool’s all-out onslaughts.

BJP’s losing candidate from Kaliaganj Kamal Sarkar conceded as much.

“They (Trinamool) hit us with the NRC issue. We couldn’t face it. This was our weakness. Apart from that we had no other weaknesses which they could have exploited. They used the issue in a way which created panic among the people,” said Sarkar, who lost by over 2,000 votes in a seat where the BJP candidate and present Union minister Debosree Chowdhury had taken almost a 57,000 vote margin in the general elections.

According to political analyst Udayan Bandopadhyay, a huge section of the constituency’s 64 percent Rajbangnshi vote travelled to the Trinamool camp only because of the NRC panic.

Similarly, in Karimpur, which has a large minority population, the Trinamool reaped the fruits of the fear about the NRC.

An indicator to this is the results of the two polling booths at Ghiyaghat Islampur Primary school — a Muslim heartland — where BJP candidate Jay Prakash Majumdar was roughed up. He got only two and 38 votes from the two booths.

Again, the Congress supported Left Front candidate Golam Rabbi, whose presence had made the Trinamool worried, proved almost a non-starter. He got only 9 percent of the votes.

According to Bandopadhyay, in Kharagpur Sadar, Kishore’s strategy of putting a check on the Trinamool’s factional feuds by keeping a strong vigil on the quarrelling leaders led to the party putting up a united fight.

As against this, there was lot of resentment in the BJP camp about the candidature of Prem Chandra Jha, handpicked by state party president and the constituency’s former legislator Dilip Ghosh, whose elevation to the Lok Sabha caused necessitated the bypoll.

Not only did a sizeable number of BJP workers remained inactive, a local leader Pradip Patnaik contested as a rebel. Though he got a mere 752 votes, the lack of cohesion in a regimented party like the BJP send some wrong signals to the electorate.

Similarly, the nomination of state party vice president Majumdar from Karimpur created misgivings among the local leaders. Majumdar was dubbed as an outsider, and some local leaders kept aloof.

“It may well be that the people did not get the sort of candidates they expected. Also, organisationally there was some laggardness, which is common during a bypoll,” said Ghosh, who also accused the Trinamool of misusing the government machinery and the police. However, even a day back, Ghosh had predicted his party would get all the three seats.

Political analyst Bimal Shankar Nanda pointed out that the BJP failed to mobilise its cadres, and could not inspire all of them to dive headlong into the campaign.

“A fight between the original BJP workers and the late entrants, the party’s failure to launch movements that touch the people, like say on vegetable prices, fielding of controversial candidates like Jha who had court cases against them, affected the fortunes of the party.

“In striking contrast, Trinamool learnt fast after the Lok sabha setbacks where its tally came down to 22 from 34 in 2014. It quickly roped in Kishore, who made surveys, found out the fault lines, and took up mass reach out programmes like ‘didi ke bolo‘ (tell the government), and strategised the campaign,” Nanda told IANS.

Trinamool’s victorious candidate from Kaliaganj, Tapan Deb Singha gave credit to Kishore.

“We ran a very coordinated campaign, reached out to every voter. Prashant Kishore’s boys worked very well till the booth level. They came up with inputs, and we followed up on their suggestions,” Singha told the media.

But what is the message of the elections for the principal political parties and its impact on the elections in the near future?

“One message is loud and clear. People have rejected the NRC. If the BJP still goes forward with it, they can do so on their own peril. But as for its impact, it’s very difficult to say, as one doesn’t know in these uncertain times what new issue may crop up,” said Bandopadhyay.

Nanda said the BJP could not be written off, notwithstanding the results.

“The attitude of the Central government and the role of central agencies probing various graft cases in the state could determine the course of the coming elections. If the BJP can get its house together, get their workers on the field and come out with an alternative narrative, they won’t do badly,” he added.

Even after the rout, the BJP can still take heart from its performance in the bypolls as opposed to its showing three years back. Its vote percentage more than trebled from 12 percent to 39 percent at Karimpur, and from 13 percent to 44 percent in Kaliaganj between 2016 and 2019. Only in Kharagpur, the figure dropped from 40 percent to 34 percent in the space of three years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Jharkhand elections 2019: Campaigning ends for first-phase polling on Saturday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Voting will take place across 3,906 polling stations, out of which 989 will have webcasting facilities.

Curtains came down Thursday on campaigning in Jharkhand for the first phase of polling to be held on Saturday in 13 assembly constituencies. A total of 37,83,055 voters of Chatra (SC), Gumla (ST), Bishunpur (ST), Lohardaga (ST), Manika (SC), Latehar (SC), Panki, Daltonganj, Bishrampur, Chhatarpur (SC), Hussainabad, Garhwa and Bhawanathpur constituencies will decide the fate of 189 candidates in the first phase.

Voting will take place across 3,906 polling stations, out of which 989 will have webcasting facilities, an Election Commission release said. Polling will begin at 7 am and conclude at 3 pm, the release said, adding, there will be separate queues for the differently-abled along with ramp and wheelchair facilities.

The notable candidates in the fray are BJP leader and Jharkhand Health Minister Ramchandra Chandravanshi, and Jharkhand PCC president and ex-IPS officer Rameshwar Oraon.

The BJP is contesting in 12 seats in the first phase, while it is supporting Independent Vinod Singh from Hussainabad.

The opposition alliance of the JMM, Congress and RJD will contest in four, six and three constituencies, respectively.

Amit Shah election rallies in Chatra, Garwah

On the last day of the campaigning, Union Home Minister and BJP president Amit Shah addressed two rallies at Chatra and Garwah and criticised the Congress for delaying abrogation of Article 370 and the Ram temple dispute resolution.

Addressing a rally in Chatra, Shah said that the Maoists have been wiped out from Jharkhand during BJP’s rule.

“Naxals have been buried 20 feet inside the earth. In last five years of the BJP rule in the state and Centre, Maoists have been wiped out. Earlier people were fearful to step out from the house and now one can take baraat even in midnight,” news agency IANS quoted him as saying.

He said: “Lots of work have been done in the state. Industries have been set up, electricity has reached houses, roads have been constructed, toilets have been built. BJP government gave respect to women who had to go to fields to relieve themselves. Rahul Baba will not understand these things as he was not born in a poor family. The pain of poor people is understood by Narendra Modi as he came from a poor background, selling tea at railway station.”

Eyeing OBC votes, Shah said, “It was the BJP government which gave constitutional status to OBC Aayog which was not done by the Congress in the last 60 years. Give us second time and we will form a committee to give maximum reservation to the OBC.

At present the OBC have been given only 14 per cent reservation in Jharkhand.

He said, “I want to ask Hemant Soren. What was the stand of the Congress when separate Jharkhand state was being created. Congress kept it pending. It was the BJP government led by Atalji which created the Jharkhand state”.

He also targeted Congress over terrorism, keeping the Ram dispute and removal of Article 370 and 35A pending for vote bank politics.

“They say what Jharkhand has nothing to do with the removal of Article 370 and Ram temple. Rahul should listen to the voice of the people who wanted Article 370 removed and temple constructed at Ayodhya. Congress wanted to delay the case related to Ram temple, but it was Modi government which facilitated hearings in the Supreme Court.”

Shah paid homage to four cops killed a few days ago in Latehar district.

“I want to tell family members of slain cops that their blood will not go in vain,” Shah added.

Rahul Gandhi to hold 4 rallies in poll-bound Jharkhand from December

Meanwhile, former Congress President Rahul Gandhi will address four elections rallies in poll-bound Jharkhand starting from December 2.

Gandhi will kickstart his poll campaign from Simdega in the state, which is going to the polls in five phases starting from November 30 to December 20, results for which will be declared on December 23.

The party leader said that the Gandhi scion will address one rally in each of the four phases starting from the second phase. The Congress, which is in alliance for the assembly polls with the Rashtriya Janata Dal (RJD) and the Hemant Soren-led Jharkhand Mukti Morcha (JMM), is contesting on 31 out of 81 seats in the state.

The Congress has released a list of 40 star campaigners for the Jharkhand assembly elections.

In the 2014 assembly elections, the JMM, Congress and the JVM had formed an alliance. However, the JVM has moved away this time.

The Congress-JMM have aligned with the RJD this time. In the 2014 elections to the 81-member Jharkhand assembly, the BJP had won 37 seats, the JMM got 19, the Congress took six, the AJSU bagged five, the JVM had eight, while the six remaining seats were won by other parties.

-with inputs from agencies

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Markets at close: How the major indices and stocks fared on Thursday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Sensex settled 109 points higher, or 0.27 percent, to close Thursday’s trade at 41,130. The BSE index rose as much as 143 points to hit a new high of 41,164 in intra-day deals.

Indian shares ended at record closing high for the second straight session on Thursday ahead of November futures and options expiry, as investors awaited gross domestic product (GDP) data due on Friday. Gains in index heavyweight Reliance Industries and banks boosted the indices.

Here’s a quick recap of how top market indices and stocks fared on Thursday:

Frontline indices

Sensex: The Sensex settled 109 points higher, or 0.27 percent, to close Thursday’s trade at 41,130. The BSE index rose as much as 143 points to hit a new high of 41,164 in intra-day deals. So far this year, the 30-share benchmark BSE index has surged over 14 percent, adding 5,062 points.

Nifty50: The Nifty50 surged 50 points, or 0.42 percent, to settle at 12,151. The NSE index rose 57 points to hit a record high of 12,157 in intra-day deals. So far this year, the broader NSE index has been positive by 1288 points, or almost 12 percent.

Key stocks

Tata Consultancy Services: The IT major settled 1.16 percent higher, closing at Rs 2,077.35 per share on NSE.

Reliance Industries: The oil-telecom-retail conglomerates’ shares ended higher by 0.65, quoting at Rs 1,579.95 on NSE. RIL became the first Indian company to hit Rs 10 lakh crore market cap, making it the most valued Indian company in terms of market capitalisation.

HDFC Bank: The private sector lenders’ shares settled 1.01 percent lower in trade today, quoting at Rs 1,265.35 on NSE.

Hindustan Unilever: The FMCG major’s stock closed at Rs 2,085.55 per share, ending 0.34 percent lower at close on NSE.

HDFC: The NBFC stock settled at Rs 2,309.85, lower by 1.13 percent.

Major sectors

Nifty Bank: The banking gauge settled 0.77 percent higher at 32,123, up 247 points at close. So far this year, Nifty Bank has gained over 18 percent.

Nifty IT: The IT index ended 0.66 percent higher to settle at 15,122. So far this year, it has gained over 4.7 percent.

Nifty FMCG: The consumer goods gauge settled 0.13 percent higher at 31,263. So far this year, Nifty FMCG has gained 2.45 percent.

Nifty Auto: The index ended 0.28 percent lower to settle at 8,179. So far this year, it has corrected by almost 11.5 percent.

Nifty Metal: The metal index gained 2.07 percent to settle at 2,657. So far this year, the index has lost almost 16 percent.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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West Bengal byelection results 2019: Trinamool wins Kaliaganj, Kharagpur Sadar; takes massive lead in Karimpur

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Tapan Deb Sinha of the Trinamool Congress won the Kaliaganj seat in a close contest, defeating his nearest BJP rival Kamal Chandra Sarkar by 2,418 votes.

West Bengal’s ruling TMC on Thursday looked set to win all the three assembly seats bypolls for which were held on Monday, bagging Kaliaganj and Kharagpur Sadar, and establishing an unassailable lead in Karimpur.
Tapan Deb Sinha of the Trinamool Congress won the Kaliaganj seat in a close contest, defeating his nearest BJP rival Kamal Chandra Sarkar by 2,418 votes, Election Commission officials said.

Congress’s Paramathanath Roy had won the seat in the last assembly election. The party had fielded his daughter Dhritashree, who finished third.

Kaliaganj is an assembly segment under Raiganj Lok Sabha constituency, which the BJP had won barely a few months ago.

TMC’s Pradip Sarkar wrested Kharagpur Sadar seat from the BJP. He defeated Premchandra Jha of the saffron party by a comfortable margin of 20,788 votes.

The loss in Kharagpur Sadar came as a shock for the BJP whose state president Dilip Ghosh was the MLA from there before he got elected to the Lok Sabha from Medinipur.

Kharagpur Sadar in an assembly segment in Medinipur Lok Sabha constituency.

TMC nominee for Karimpur Bimalendu Sinha Roy has established a lead of more than 23,000 votes over his BJP rival Jaiprakash Majumdar, and looks all set to retain the seat for his party. TMC’s Mohua Mitra had bagged Karimpur in the last polls before she was elected to the Lok Sabha from Krishnanagar.

This is for the first time that the TMC has bagged the Kaliaganj and Kharagpur seats.

Dedicating the party’s victory to the people of West Bengal, Chief Minister Mamata Banerjee said voters had “paid back” the BJP for its “arrogance of power”.

“We dedicate this victory to the people of Bengal. The BJP is getting paid back for its arrogance of power and for insulting the people of Bengal,” she told a TV news channel.

The CPI(M) and the Congress, instead of trying to strenghten themselves, are “helping” the BJP in West Bengal, Banerjee said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Maharashtra swearing-in ceremony: Bhujbal, Jayant Patil, Thorat likely to take oath as ministers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Shiv Sena president Uddhav Thackeray will be sworn in as chief minister of Maharashtra on Thursday evening at a ceremony to be held at the Shivaji Park in Dadar area in Mumbai.

Nationalist Congress Party (NCP) leaders Chhagan Bhujbal and Jayant Patil and Maharashtra Congress unit chief Balasaheb Thorat are likely to take oath as state ministers on Thursday, sources in the two parties said. The deputy chief minister’s post may go to NCP MLA Ajit Pawar, they said. Shiv Sena president Uddhav Thackeray will be sworn in as chief minister of Maharashtra on Thursday evening at a ceremony to be held at the Shivaji Park in Dadar area in Mumbai.

NCP leader Praful Patel on Wednesday said one or two MLAs each from his party, the Shiv Sena and the Congress will be sworn in as ministers at the ceremony.

“Bhujbal and Patil are expected to be sworn in as ministers from the NCP. Ajit Dada is likely to be the deputy CM. But, he is unlikely to take oath today,” a source in the NCP said.

“Thorat is also expected to take oath today,” a Congress source said.

Former Maharashtra chief minister Ashok Chavan could be the second leader from the Congress to be sworn in as minister on Thursday. “But, a decision on this will be taken in a few hours,” the source said.

Names of Ashok Chavan and another former chief minister Prithviraj Chavan are doing the rounds for the post of Assembly Speaker.

The Shiv Sena, NCP and Congress have come together under the front called ‘Maha Vikas Aghadi‘ to form government in the state.

The BJP and the Sena, which fought the last month’s Assembly polls in an alliance, secured a comfortable majority by winning 105 and 56 seats respectively.

The Sena, however, broke its three-decade-long ties with the BJP after the latter declined to share the chief minister’s post.

The NCP and Congress won 54 and 44 seats respectively.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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RIL market cap scales Rs 10 lakh crore: The milestone in context and in numbers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Reliance Industries’ achieved the Rs 10 lakh crore mile stone in roughly a month, rising 8 percent.

Reliance Industries’ market cap has crossed the Rs 10 lakh crore milestone on Thursday. The Mukesh Ambani-led oil-to-telecom conglomerate has become the largest company on Indian bourses and also jumped to the sixth spot as the largest oil and gas company in the world. Moreover, if the target average of Rs 1,725 per share by brokerages such as Credit Suisse and others is achieved, RIL could soon rank as the fifth largest oil and gas company globally.

At present, Reliance Industries ranks as the sixth-largest oil and gas company in the world, behind Petro China, which has a market cap of $147.4 billion. In dollar terms, RIL’s current market cap is estimated at $140 billion, which can swell to $152 billion at brokerages’ revised target price. At target value, RIL will be only behind Saudi Aramco ($1700 billion), ExxonMobil ($291.2 billion), Royal Dutch Shell ($229.4 billion) and Chevron ($223.5 billion).

At present, Reliance Industries ranks as the sixth-largest oil and gas company in the world, behind Petro China, which has a market cap of $147.4 billion.

Reliance Industries deal with Saudi Aramco

Reliance Industries and Saudi Aramco signed a nonbinding letter of intent in August this year under which Saudi Aramco will buy a 20 percent stake in RIL’s oil-to-chemical business at an enterprise value of $75 billion.

The deal will help RIL pare its debt, that has increased significantly in recent years, a concern flagged by Credit Suisse in a report. The brokerage had said that RIL’s financing liabilities had increased from $19 billion in FY2015 to $65 billion in FY 2019, while its net debt rising from roughly $3 billion to over $12 billion during the period. The additional debt at the consolidated balance sheet rose from $9.4 billion to $20.6 billion, it said.

 

Reliance Industries’ achieved the Rs 10 lakh crore milestone in roughly a month, rising 8 percent.
A scrip on fire
Reliance Industries’ achieved the Rs 10 lakh crore milestone in roughly a month, rising 8 percent. On October 18th, RIL’s market cap stood at Rs 9 lakh crore. So far this year, RIL shares have jumped over 40 percent in value. The stock is trading at 15 times FY21 estimated earnings and 2.1 times the book value.
The Rs 5 lakh crore jump in RIL’s market cap has come in a little over three years. In September 2017, Reliance Industries’ market cap stood at Rs 5 lakh crore. 

On August 2, 2005, RIL share price stood at Rs 93.57, with a total market cap of Rs 1.0 lakh crore. The stock quotes at around Rs 1580 per share as of today.

RIL market cap journey from Rs 1 lakh crore to Rs 10 lakh crore. Source: BSE, CMP in Rs, Market Cap in Rs/Crore

In the last 42 years, Reliance Industries’ has given strong returns to its investors. For instance, the value of an investment of Rs 10,000 made in Reliance Industries’ initial public offer (IPO) in 1977 would have turned into Rs 2,10,000,000 or over Rs 2 crore. In percentage terms, the stock has returned 2,09,900 percent.

Reliance Industries versus the rest

At Rs 10 lakh crore, RIL’s market cap is higher than that of 6 public sector behemoths together, which are State Bank of India (Rs 3.09 lakh crore), Oil and Natural Gas Corp. (Rs 1.7 lakh crore), Indian Oil Corporation (Rs 1.28 lakh crore), NTPC (Rs 1.14 lakh crore), Power Grid (Rs 1 lakh crore) and Bharat Petroleum (Rs 1.1 lakh crore).

RIL’s Rs 10 lakh crore market cap equals the combined market cap of as many as 23 Nifty companies, including consumer major Britannia and auto players like Hero MotoCorp and Tata Motors.

Compared to major bank players, RIL’s market cap equals the combined market cap of 35 private and public sector banks, including the State Bank of India, Axis Bank and IndusInd Bank.

In relation to small cap companies, RIL’s market cap is now equal to the market cap of as many as 250 smallcap players.

In m-cap, IT giant TCS comes at a distant second with a market value of Rs 7.71 lakh crore.

In m-cap, IT giant TCS comes at a distant second with a market value of Rs 7.71 lakh crore. Interestingly, HDFC Bank has joined the top three recently, with its m-cap crossing the landmark figure of Rs 6.99 lakh crore.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Are you a Crypto Head? It’s time to prove it!
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?