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Watch: Nita and Mukesh Ambani elated about opening of grand NMACC in Mumbai

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

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Summary

NMACC that Nita Ambani has gifted not only to the city of Mumbai but to India, it really marks India’s coming off age in this new India and the new era that we have. We now have the infrastructure to produce world-class content, we have the infrastructure to invite everybody else from the rest of the world to come to Mumbai, Mukesh Ambani said at the launch.

Reliance Industries Chairman Mukesh Ambani and his wife Nita Ambani expressed gratitude and joy ahead of the inauguration of the state-of-the-art Nita Mukesh Ambani Cultural Center at Jio World Centre in Mumbai on March 31. “At this moment my heart is full. I am at a loss for words,” said an excited Nita Ambani during the opening of the cultural centre.

“I think Mukesh Ambani and me had dreamt about having a cultural centre in India, which is comparable to the best in the world. Hopefully, today is a reality. I am so looking forward to welcoming everyone to the cultural centre in Mumbai,” she explained.

NMACC or Nita Mukesh Ambani Cultural Centre is India’s first-of-its-kind, multi-disciplinary cultural space and is home to a majestic 2,000-seat Grand Theatre, a technologically advanced 250-seat Studio Theatre, and a dynamic 125-seat Cube.

Also Read: NMACC inauguration: Must see elite guests who attended the grand opening

Mukesh Ambani said the cultural centre marks India’s coming off age in this new India. “This arts and cultural centre that Nita Ambani has gifted not only to the city of Mumbai but to India, it really marks India’s coming off age in this new India and the new era that we have. We now have the infrastructure to produce world-class content, we have the infrastructure to invite everybody else from the rest of the world to come to Mumbai. I hope that one day we have original shows that are produced by Indians here and we go with a show from here to Broadway. So that is our wish,” he said.

The cultural centre will showcase India’s fine arts, music, theatre and crafts to domestic and international audiences.

As per a press release, NMAAC will be highly inclusive with free access for children, students, senior citizens, and the specially-abled, and will strongly focus on community nurturing programmes including school and college outreach and competitions, awards for Arts teachers, in-residency Guru-shishya programs, art literacy programs for adults, etc.

“NMACC is owed to our country, to the rich legacy and heritage that we all have inherited. I hope the spaces here nurture young talent not only from the metros and cities but also from small towns and remotest villages. I hope it becomes a home for the art, for artisans and the audience. So we hope to get the best of India here and welcome the best of the world here,” Nita Ambani said.

Tickets can be booked on nmacc.com or BookMyShow.

Also watch key highlights from inauguration of Nita Mukesh Ambani Cultural Centre.

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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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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106-year-old Filipino tattoo artist becomes Vogue’s oldest cover model

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

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Summary

Vogue Philippines has shattered norms and embraced true beauty by featuring the oldest model ever to grace its cover. 

The April issue of Vogue Philippines boasts an unprecedented feat – the cover is graced by none other than the venerable Apo Whang-Od, a 106-year-old tattoo artist from the Philippines, making her the oldest model to have ever graced the front page of the esteemed fashion magazine.

Whang-Od — also known as Maria Oggay — has honed the ancient art of hand-tapping tattoos since her youth, meticulously perfecting her craft under the tutelage of her father. 

Nestled in the mountain village of Buscalan, Whang-Od is the oldest mambabatok in the Philippines, a traditional Kalinga tattooist who has gained global recognition for her intricate designs.

Also read: Dior’s 2023 pre-fall collection at Gateway of India in Mumbai — Where to watch and more details

Once, the tattoos were reserved only for the Butbut warriors. However, Whang-Od’s signature geometric designs now draw clients from all around the globe who flock to her humble abode for her intricate artistry.

Armed only with a bamboo stick, a thorn from a pomelo tree, water, and coal, she brings to life symbols that signify bravery, strength, and beauty that represent the Kalinga tribe.

The art can only be passed down to blood relatives, and she continues to do so by imparting her wisdom to her grandnieces, Elyang Wigan and Grace Palicas.

The magazine’s editor-in-chief, Bea Valdes, noted that the decision to feature Whang-Od was unanimous among the staff, as she embodies the ideals of true beauty and diversity.

“We believe that the concept of beauty needs to evolve, and include diverse and inclusive faces and forms. What we hope to speak about is the beauty of humanity,” Valdes added.

As the world shifts towards a more inclusive and accepting society, Whang-Od’s cover feature in Vogue Philippines serves as a powerful reminder that true beauty transcends age, race, and gender.

Vogue Philippines remarked in a social media post, “Whang-Od is celebrated as the last mambabatok of her generation, her legacy etched forever in the skin of thousands of people who have made the sacred pilgrimage to Buscalan to receive her artwork.”

Her unwavering dedication to the art of tattooing and the preservation of her culture is an inspiration to all. As she herself said, “The tradition will continue as long as people keep coming to get tattoos.”

Also read: Nita Mukesh Ambani Cultural Centre opens today

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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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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Vistara to start direct Mumbai-London flight from June

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

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Summary

The airline, which is in the process of merging with Tata Group-owned Air India, said it plans to expand further into the European market with a gradual increase in its widebody fleet going forward.  

Mumbai: Full-service carrier Vistara, a joint venture of Tata group and Singapore Airlines, on Friday said it will launch direct flight services between Mumbai and London Heathrow, starting June 1.

The services on the new route will be operated five times a week with a Dreamliner Boeing 787-9 aircraft in three-class configuration — business, premium economy and economy, Vistara said in a statement.

The airline, which is in the process of merging with Tata Group-owned Air India, said it plans to expand further into the European market with a gradual increase in its widebody fleet going forward.

Also Read: Air India to absorb all employees of Vistara, says Vistara CEO Vinod Kannan

“Mumbai-London will be our fourth route to Europe after connecting Frankfurt, Paris and London with Delhi. This additional gateway also offers our customers more options and flexibility with their travel itineraries,” said Vinod Kannan, CEO at Vistara.

“We look forward to further expanding our presence in Europe, especially with more wide-body aircraft joining our fleet in the coming months,” he added.

The airline also said that bookings for the flights are being progressively opened on all channels, including on its website, mobile app as well as travel agents.

Also Read: From manual pricing to ChatGPT: How Air India is transforming under Tata

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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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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Retail inflation for industrial workers remains flat at 6.16% in February

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

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Summary

The Labour Bureau, an attached office of the Ministry of Labour and Employment, has been compiling Consumer Price Index for Industrial Workers (CPI-IW) every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and all-India and is released on the last working day of succeeding month.

Retail inflation for industrial workers remained flat at 6.16 per cent in February compared to that of January this year.

“Year-on-year inflation for the month stood at 6.16 percent compared to 6.16 percent for the previous month (January, 2023) also and 5.04 percent during the corresponding month (February 2022) a year before,” a labour bureau statement said.

It stated that food inflation stood at 6.13 percent against 5.69 percent of the previous month and 5.09 percent during the corresponding month a year ago.

The Labour Bureau, an attached office of the Ministry of Labour and Employment, has been compiling Consumer Price Index for Industrial Workers (CPI-IW) every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

The index is compiled for 88 centres and all-India and is released on the last working day of succeeding month.

Also Read: India CPI inflation in February drops to 6.44%, higher than Street estimates

The all-India CPI-IW for February 2023 decreased by 0.1 point and stood at 132.7 points. It was 132.8 points in January 2023.

On 1-month percentage change, it decreased by 0.08 percent with respect to previous month. A decrease of 0.08 percent was recorded between corresponding months a year ago too.

The maximum downward pressure in current index came from food and beverages group contributing 0.1 percentage point to the total change.

At item level, cabbage, cauliflower, brinjal, carrot, onion, potato, peas, french-bean, drum stick, kundru, grapes, sunflower oil, soyabean oil, mustard oil, poultry/chicken, eggs-hen and fish fresh etc. are responsible for the fall in index.

However, this decrease was checked by rice, wheat, wheat atta, buffalo milk, cow milk, pure ghee, garlic, gourd, lady’s finger, parwal, cumin seed/jira, apple, banana, mango, country liquor, foreign liquor and medicine allopathic, etc. putting upward pressure on the index.

At centre level, Raniganj, Jalpaiguri and Puduchery recorded a maximum decrease of 1.8 points each. Among others, 5 centres recorded decrease between 1 and 1.4 points and 32 centres between 0.1 and 0.9 points.

On the contrary, Amritsar recorded a maximum increase of 3.1 points. Among others, 7 centres recorded an increase from 1 to 1.9 points and 37 centres from 0.1 to 0.9 points. Rest of three centres’ indices remained stationary.

Also Read: India’s retail inflation is cooling but may still lead to rate hikes as it’s above RBI’s upper tolerance level

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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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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Renewable energy firm SAEL raises Rs 1,325 crore via bonds

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

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Summary

“SAEL, India’s largest waste-to-energy producer, has successfully culminated issuance of AA-rated bonds to the tune of Rs 1,325 crore. (approx $161 million),” a company statement said.

Renewable energy firm SAEL has raised Rs 1,325 crore through the issuance of bonds.

“SAEL, India’s largest waste-to-energy producer, has successfully culminated issuance of AA-rated bonds to the tune of Rs 1,325 crore. (approx $161 million),” a company statement said.

The bonds were subscribed by a consortium of four leading institutions, namely, India Infradebt Ltd, Aseem Infrastructure Finance Ltd, TATA Cleantech Capital Ltd, and Kotak Infrastructure Debt Fund Ltd, it stated.

This long-term financing is denominated in rupees and is slated to mature in 2033. Barclays acted as the sole arranger and structuring agent for the issuance, it added.

Also Read: Virgin Orbit to cease operations, lay off almost entire workforce as it fails to secure funding

The proceeds from this long-term, secured, unlisted, rated, redeemable, Non-Convertible Debt Securities (NCDs) will give a major boost to SAEL’s green energy initiatives, it informed.

“We contribute to combating one of our nation’s greatest health issues by collecting the crop stubble to be used as fuel in our waste-to-energy plants. At the same time, we create local employment and generate additional income for farmers and local entrepreneurs,” said Laxit Awla, CEO, of SAEL.

SAEL is an emerging renewable company with a presence across solar and agri waste-to-energy projects. It has developed a business model where crop residues are used as fuel in waste-to-energy plants situated in Punjab, Haryana, and Uttar Pradesh, and expansion in other regions such as Rajasthan is on track.

Also Read: Adani group to rein in non-core expansion and focus on ports, power

Each year farmers in northern India burn crop stubble in their fields to remove paddy residue, resulting in severe air pollution with devastating health effects in the region.

SAEL is utilising this agricultural waste as fuel to produce renewable power around the clock. The company’s ambition is to grow its portfolio to 3.5 GW over the next four years by adding 100 MW of new biomass and 600 MW of new solar capacity annually.

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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Aurangabad violence: one dead, seven arrested; SRPF deployed in city

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

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Summary

At least 12 persons including 10 policemen were injured after a mob of around 500 people hurled stones and petrol-filled bottles when the cops tried to control the situation following a clash between two groups near the Ram temple in Kiradpura locality of Aurangabad.

As many as seven persons have been arrested following a mob attack on a police station in central Maharashtra’s Aurangabad city while an injured man died in hospital, police said on Friday.

Normalcy returned to the city, recently renamed as ‘Chhatrapati Sambhajinagar’, even as the government deployed five companies of the State Reserve Police Force (SRPF) as a precaution.

At least 12 persons including 10 policemen were injured after a mob of around 500 people hurled stones and petrol-filled bottles when the cops tried to control the situation following a clash between two groups near the Ram temple in Kiradpura locality of Aurangabad, on the intervening night of Wednesday and Thursday.

The police used tear gas and fired some plastic bullets as well as live rounds to control the mob.

Also Read: 2019 Jamia Nagar violence case: Delhi HC partially sets aside order discharging Sharjeel Imam and others

Barkat Shaikh (23), Shaikh Atik (24), Saddam Shah (33), Shaikh Khaja (25), Sharik Khan (23), Syed Noor (27), all local residents, and Shaikh Saleem (25) from Buldhana district were arrested for alleged rioting, said an official of Jinsi police station where a case has been registered.

Shaikh Muniruddin (51), who had suffered injuries during the violence, died at a hospital on Thursday night, officials said, without specifying how he came to be injured.

“Security at various sensitive locations in the city has been increased. The administration has deployed five companies of SRPF and nearly 600 police personnel are on guard to maintain peace,” an official said.

Leader of Opposition in the Maharashtra Assembly Ajit Pawar said political parties, civil society and citizens must work towards ensuring peace in Aurangabad.

The Nationalist Congress Party (NCP) leader said police are doing their work but everyone, including political parties, those in power or Opposition, civil society and common citizens should work towards ensuring peace.

Asked about the Maha Vikas Aghadi’s joint rally in Aurangabad on April 2, he said it had been planned much earlier, and leaders of the MVA constituents – NCP, Congress and Shiv Sena (UBT) — are working on it.

Shiv Sena (UBT) MP Sanjay Raut alleged that violence in Aurangabad and elsewhere on Ram Navami was “government-sponsored”, and the Eknath Shinde-led Maharashtra government wanted to use the tensions as a pretext to disallow the MVA rally on April 2.

Fellow Shiv Sena (UBT) leader and Leader of Opposition in the Legislative Council Ambadas Danve contested Aurangabad MP Imtiaz Jaleel’s claim that some drug addicts were responsible for the violence.

”Drug addicts can not carry out such violence…..How can 400-500 people be drug addicts? I had got information and I had spoken about it with the commissioner multiple times. It was ignored by administration,” he claimed.

Danve also claimed that the agitation against the renaming of Aurangabad as Chhatrapati Sambhajinagar and the counter-agitation supporting the renaming led to this situation. Had the agitation against the renaming not taken place, this situation would have been averted, he added.

Also Read: Khalistan supporters try to incite violence at Indian Embassy in Washington; Secret Service, police foil attempt

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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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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NMACC inauguration: Must see elite guests who attended the grand opening

The inauguration event was attended by a host of notable figures, including Isha Ambani, daughter of Reliance Industries Limited (RIL) Chairman & MD Mukesh Ambani, and her father-in-law Ajay Piramal, Chairman of Piramal Group. The launch event was curated to celebrate the diversity of India’s cultural traditions and their impact on the world, featuring a specially curated program called ‘swadesh.’
Mukesh Ambani and Nita M Ambani, who were both present at the grand opening, were joined by their children Akash and Shloka Ambani, as well as Anand Piramal.
Vidya Balan and Alia Bhatt graced the grand opening ceremony of the centre’s inauguration.
Sachin Tendulkar, the legendary cricketer, graced the occasion in the company of his family.
Uddhav Thackeray, the former Chief Minister of Maharashtra, along with his family, graced the grand opening and inauguration ceremony of the centre.
Aamir Khan graced the grand opening ceremony of the inauguration of the centre with his presence.
 5 Minutes Read

SEBI allows mutual funds to launch multiple ESG-based schemes

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

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Summary

Market regulator SEBI has announced a slew of measures to boost ESG-based investing in India through mutual funds. The fund houses have been given the freedom to launch more than one ESG scheme from now.

Market regulator SEBI has announced a slew of measures to boost ESG-based investing in India through mutual funds. The fund houses have been given the freedom to launch more than one ESG scheme now.

With a total of 10 ESG funds in the market, the Indian mutual fund industry is still in the early stages of ESG investing vis-à-vis its global peers. The 10 funds currently operational in India manage total assets under management (AUM) of Rs 10,243 crore as on March 29, 2023.

Most of these schemes track the Nifty100 ESG TRI which has a total of 89 companies listed on it- a far lower number than the general indices. The Nifty100 ESG index is designed to reflect the performance of companies within the Nifty100 index based on environmental, social and governance (ESG) risk scores. The average number of stocks in the portfolios of these ESG schemes is 38-52, compared to 70-100 in a diversified equity portfolio.

Let’s now look at the returns given by the category. In the last year, the category has offered an average return of -5.09 percent. In a three-year time frame, the category has offered 21.79 percent and in five years, the returns stand at 11.01 percent. The decline in returns can be attributed to the energy crisis and a global hit on the ESG framework after the Russia-Ukraine war.

In India, the top constituents by weightage in the ESG index are companies like Infosys, Tata Consultancy Services (TCS), HDFC Ltd, HCL Technologies, ICICI Bank, and Bharti Airtel. Financial services at 29.37 percent, information technology at 23.05 percent, and automobile and auto components at 10.76 percent represent the biggest sectors on the index.

Also Read: SEBI tells mutual funds they cannot double-charge fund investors in the name of total expense ratio

When it comes to top performers in the last three years, Quantum India ESG fund with 26.98 percent returns and SBI Magnum Equity ESG fund with 24.42 percent returns have topped the return charts.

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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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

CBDT signs 95 Advance Pricing Agreements with taxpayers in 2023 fiscal

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

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Summary

The year has been a record-breaking year in several ways. This year, CBDT recorded the highest ever APA signings in any financial year since the launch of the APA programme, signing a total of 95 APAs. This year, CBDT also signed the maximum number of BAPAs in any financial year till date.

The Central Board of Direct Taxes (CBDT) has entered into a record 95 Advance Pricing Agreements (APAs) with Indian taxpayers in the fiscal year 2022-23, the Ministry of Finance said on Friday.

Out of these, 63 agreements are Unilateral APAs (UAPAs), and the remaining 32 are Bilateral APAs (BAPAs). As a result, the total number of APAs has now increased to 516 since the initiation of the APA programme.  Out of these, 420 are UAPAs, and 96 are BAPAs.

In a statement, the Ministry of Finance said, “The year has been a record-breaking year in several ways. This year, CBDT recorded the highest ever APA signings in any financial year since the launch of the APA programme, signing a total of 95 APAs. This year, CBDT also signed the maximum number of BAPAs in any financial year till date.”

Also Read: RBI directs banks to ensure special measures for annual closing of govt accounts for 2023 fiscal

“The BAPAs were signed as a consequence of entering into Mutual Agreements with India’s treaty partners namely Finland, the UK, the US, Denmark, Singapore, and Japan. A record of the largest number of single day signings in the history of the programme was also created with a total of 21 APAs signed on March 24, 2023,” it added.

The aim of the APA scheme is to provide clarity and predictability to taxpayers regarding transfer pricing by outlining the methods for pricing and determining the arm’s length price of international transactions in advance for up to five years.

Taxpayers can also opt to apply the APA to the previous four years, resulting in tax certainty for a total of nine years. Additionally, signing bilateral APAs can protect taxpayers from anticipated or actual double taxation.

This program has significantly contributed to the Indian government’s mission of promoting ease of doing business, particularly for multinational enterprises with numerous cross-border transactions between their group entities, the ministry said.

Also Read: Retirement fund body hikes EPF interest rate to 8.15%

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
Quiz
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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?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Indian rupee depreciated 8% in FY23, appreciation bias may continue in FY24

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

 Listen to the Article (6 Minutes)

Summary

The rupee started strong at about 75.50 on 1st April 2022 but then went on to weaken to its lowest level of 83.28 in October, and that was the period when the dollar strengthened, the dollar index strengthened from about less than 100 at the start of the year to about 114 in end September.

The Indian rupee depreciated 8 percent against the US Dollar in this financial year. The currency weathered net outflows of more than $7 billion. At the end of FY23, one US dollar costs more than Rs 82.

The rupee started strong at about 75.50 on April 1, 2022, but then went on to weaken to its lowest level of 83.28 in October, and that was the period when the dollar strengthened, the dollar index strengthened from about less than 100 at the start of the year to about 114 in end September.

The rupee weathered a lot, it weathered FPI outflows of the net of $7.50 billion and a gross outflow of almost $23 billion. It also weathered a high current account deficit in the second quarter where the CAD touched 4.4 percent of GDP, the highest since 2013.

Read Here | India’s foreign trade policy aims to make rupee stronger — here’s how it may work

The Reserve Bank of India did appear to help the rupee and defended the rupee at around 80, but then it let go when the current account deficit worsened.

Now, lately, the rupee has been appreciating in the last quarter because the current account deficit turned into  a surplus in the fourth quarter. It looks like the appreciation bias is likely to continue in FY24 because commodities and crude prices seem to be subdued, and the current account looks under control because of good service exports.

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

Next Article

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

LIVE TV

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
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

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

Answer Anonymously

Should Elon Musk be able to buy Twitter?