Tough to manufacture COVID vaccines sans tech transfers: Zydus Cadila

The United States has backed the plan to suspend COVID vaccine patents. However, Dr Sharvil Patel, MD of Zydus Cadila said that patents do not cover every detail of the biological process and it will be difficult to manufacture COVID vaccines on our own without technology transfers.

“Practically if one has to do a technology transfer, I would believe it would require at least 6 months. Not only do you need to do the technology transfer which is at small scale, but when you have to scale this process up to make a good vaccine that matters in terms of population, you will have to do a capital investment which again is going to take anywhere between 6-9 months even if you are very aggressive,” he said in an interview to CNBC-TV18.

“From all practical purposes, unless you have a manufacturing footprint which is identical to the vaccine patent holder, then only you can do it in 6 months. Otherwise, it is a process that will take longer than 6 months to do,” he added.

Patel also said that one cannot repurpose an existing injectable facility to manufacture a vaccine. “For making a vaccine, you need a vaccine API facility or a biological facility which has nothing to do with sterile injectable manufacturing. So, a sterile drug product manufacturing facility cannot be repurposed to make a vaccine,” he said.

He also said that it is important for a vaccine manufacturer to consider the cost of making a new vaccine as well as consider what works for India in terms of cost and distribution of the vaccine.

Patel also said that Zydus Cadila is in talks with other Indian manufacturers for technology transfer and is also looking at global tie-ups for their vaccine.

Watch the video for more.

 5 Minutes Read

Expect 15% volume growth going ahead; surge in input price may impact margins: Kirloskar Ferrous

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

 Listen to the Article (6 Minutes)

Summary

Kirloskar Ferrous is reacting to a stellar set of Q4 earnings. It was their best ever quarterly EBITDA with the Q4 EBITDA coming in at 90 percent of the entirety of FY20. RV Gumaste, MD of the company spoke to CNBC-TV18 to give the fine print and outlook going ahead.

Kirloskar Ferrous is reacting to a stellar set of Q4 earnings. It was their best ever quarterly EBITDA with the Q4 EBITDA coming in at 90 percent of the entirety of FY20.

RV Gumaste, MD of the company spoke to CNBC-TV18 to give the fine print and outlook going ahead.

On volumes, Gumaste said, “The demand for both our products casting as well as pig iron continues to be quite good. But as you know the COVID-19 pandemic is a matter of concern for all the industries and as well to Kirloskar Ferrous.”

“This year we can expect the increase in volumes of pig iron because we have our Hiriyur plant operational. Overall we should give good volume growth coming in the pig iron business as a total.”

On castings, he said, “In case of castings currently our run rate is about 10 metric tonne per month. We hope the auto and tractor industry to maintain volumes and we are dependent on them. We expect to grow at least 15 percent of growth compared to the last year.”

On margins, Gumaste said, “In 2019-2020 our EBITDA was 12.5 percent and this year 2020-2021 it has moved from 22.5 percent. Benefits have been there because of the commodity prices being high and coal prices being soft. There could be corrections in this because. There can be commodity corrections and input material cost may go up which may correct the margins.”

For full management commentary, watch the video

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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RBI’s liquidity injection for healthcare: Industry voices discuss debt reduction and investments

The Reserve Bank of India (RBI) governor yesterday, May 5, classified COVID-critical manufacturing and services as a priority sector and offered banks incentives if they extend credit to any company that is a COVID warrior.

If banks built a COVID loan book, to that extent they will be able to put money in the reverse repo window and earn 40 bps more. In the reverse repo window, they get 3.35 and now they can get 3.75.

Additionally, loans to COVID related companies, hospitals, diagnostics etc., will be treated as priority sectors.

In an interview with CNBC-TV18, Ashutosh Raghuvanshi, MD & CEO of Fortis Healthcare and Suneeta Reddy, managing director (MD) of Apollo Hospitals Enterprises weighed in on this.

“We would not link our capex plans to any kind of incentive. It has to be strong in itself and that is more important for us,” said Raghuvanshi.

“However, going forward we do not want to defer any of our capex commitments that we have for this year and the following years. Therefore, we will look forward to understanding this a little better. We have started early discussions with the banks to see whether we can get the advantage of it for the further lines of credit which we will be seeking during this year,” he said.

Meanwhile, Reddy said, “We should use this opportunity even though we did a capital raise in January and we have a very healthy balance sheet at this time.”

“We have to pay down the older debt which is a bit more expensive, the average cost of debt at 7 percent and our ability to maintain a debt to equity ratio of 0.5. Therefore, keeping this in mind I believe that we will look at restructuring our debt,” she said.

For the entire discussion, watch the video

 5 Minutes Read

British Airways flies special aircraft to India with emergency aid including oxygen cylinders

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

 Listen to the Article (6 Minutes)

Summary

The aircraft was loaded with more than a thousand items from the Indian High Commission and charities. It included hundreds of urgent life-saving oxygen cylinders and shipments of oxygen concentrators,respiratory and blood oxygen saturation monitors.

British Airways on Thursday said it operated a Boeing 777-200 aircraft carrying emergency aid, including oxygen cylinders and concentrators, to Delhi amid the country battling with rising coronavirus cases. while Cargo and British Airways have maintained a vital air link between London and India throughout the pandemic and sending aid on scheduled flights, this airlift was one through a special charter. It was fully funded by the two companies, according to a release.

British Airways said it commissioned a special project team to organise the flight (BA257F), which landed in Delhi at 5.45 am (local time) on Thursday. The aircraft was loaded with more than a thousand items from the Indian High Commission and charities. It included hundreds of urgent life-saving oxygen cylinders and shipments of oxygen concentrators,respiratory and blood oxygen saturation monitors.

Besides, the airline is donating care packages for families in need. ”The British Airways family has been deeply affected by the terrible scenes in India of the deepening humanitarian crisis that has impacted the lives of many of our people. We are fortunate to be in a position to help transport aid and I am so proud of the volunteers from across the airline and IAG Cargowho have stepped up to make this happen,” British Airways’CEO Sean Doyle said.

He said British Airways will continue to stand with its friends in India as the country endures one of the ”worst crises” it has ever known. British Airways working in partnership with the Disasters Emergency Committee(DEC), which is organising the UK’s humanitarian response.

DEC’s CEO Saleh Saeed said DEC brings together 14 leading UK aid charities to respond quickly and effectively to disasters, with the fantastic support of partners in the corporate sector, including British Airways. ”We are hugely grateful to British Airways for springing into action to support our emergency appeals, enabling us to provide life-saving humanitarian assistance to people in India and elsewhere across the world when disaster strikes,” he added.

Follow our LIVE COVID-19 blog for the latest

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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 5 Minutes Read

Expert’s take on copper and aluminium prices hitting an all-time high

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

 Listen to the Article (6 Minutes)

Summary

Copper and aluminium have seen an all-time high in Indian markets. For copper it has been about strong demand and the inventories which have continued to decline on LME and Shanghai as well. On aluminium, it is about China and Australia, we have seen a fallout there and there has been a statement from China saying all economic activities with Australia as of now stands suspended. So that is pushing the aluminium prices on the higher side as well.

Copper and aluminium have seen an all-time high in Indian markets. For copper it has been about strong demand and the inventories which have continued to decline on LME and Shanghai as well.

On aluminium – it is about China and Australia, we have seen a fallout there and there has been a statement from China saying all economic activities with Australia as of now stands suspended. So that is pushing the aluminium prices on the higher side as well.

On fallout between China and Australia and its impact on commodities, David Lennox of Fat Prophets said, “The information that has come out of China is somewhat disturbing from Australian point of view, but also it is now going to put a lot of tension inside the commodities market primarily because Australia is a major supply into the Chinese market. So if we do see the disruptions going through, that is going to cause in the near term anyways some significant requirement for the product to be found and sourced elsewhere from the Chinese. That is probably not going to be an easy task in the short-term.”

On copper prices Lennox said, “Copper is reacting as we have seen to the global growth that we have seen now, really it has started to get entrenched inside investors and traders mind. With that entrenchment of growth, we have seen a significant demand for the commodities, also we are getting a supply squeeze. So when we are seeing demand become more resurgent and we see that supply squeeze that is now putting significant pressure on the copper price.”

“We will see some consolidation, but if we see further rallies it will have to do with the direction of the US dollar. If we see that US dollar start to trend lower again, and we have seen that across the course of the Asia then it is going to continue to put a significant tailwind behind the commodity space, that tailwind should support many rallies going forward. So from here, we have probably now seen the demand and supply squeeze and the demand growth that we will need to now see the direction of the US dollar just to ensure that we see a continuation of any rally inside the base metals prices and it will be across the board of spectrum.”

Watch this video for more.

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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 5 Minutes Read

Nintendo forecasts decline in Switch sales, warns of chip uncertainty

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

 Listen to the Article (6 Minutes)

Summary

In announcing the figures, Nintendo President Shuntaro Furukawa also said a shortage of chips, which has affected electronics makers worldwide, was affecting production and adding to the uncertainty.

Japan’s Nintendo Co Ltd on Thursday forecast annual Switch console sales to fall 11.5%, in what would be the first decline for the five-year-old device after riding a pandemic-induced boom in-home gaming. The Kyoto-based firm expects to sell 25.5 million units in the business year that started April 1. That would compare with 28.8 million a year earlier after booking an 82 percent rise in operating profit at 640.6 billion yen (USD 5.9 billion).

In announcing the figures, Nintendo President Shuntaro Furukawa also said a shortage of chips, which has affected electronics makers worldwide, was affecting production and adding to the uncertainty.

Last week, the share price of rival Sony Group Corp fell after the firm said the chip shortage would likely prevent it from drastically boosting console production.

A major beneficiary of governments’ stay-home anti-virus policies, market participants are now focused on whether the Switch can maintain momentum in its fifth year of life amid speculation over new games and a hardware refresh.

Nintendo is known for conservative forecasts that force the firm to make incremental revisions. Last May, in the midst of booming gaming sales globally, Nintendo said Switch hardware and software sales would undershoot the previous year.

The firm went on to sell 230 million units of software in the year ended March 31, 20 percent above that forecast. For the current year, Nintendo pegged software sales at 190 million units, with Furukawa saying he hoped to exceed targets.

Nintendo’s share price has gained 90 percent since March 2020 as gamers flock to titles such as ”Animal Crossing” and ”Ring Fit Adventure”. Still, the stock has fallen 10 percent from highs reached in February as investors take heed of the Switch’s cyclical peak.

Each generation of games console typically lasts about seven years before being superseded by the next, with peak sales usually hit around year five. The home-portable Switch console’s hybrid nature will extend its lifecycle, Furukawa said.

In contrast to a thin games pipeline this time last year, support for Switch sales will come from upcoming titles including ”Mario Golf: Super Rush” set for release in June and a remake of ”The Legend of Zelda: Skyward Sword” due in July.

Nintendo is highly dependent on its console business, unlike rivals such as Sony Group Corp and Microsoft Corp which have diversified business lines. Its expansion into the booming mobile gaming market has largely stalled.

Also on Thursday, Nintendo said Chris Meledandri, founder and chief executive of the Illumination studio partnering the firm on a ”Super Mario” movie, will be nominated to join its board.

($1 = 109.2700 yen)

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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 5 Minutes Read

Russia to send 1.50 lakh doses of Sputnik V vaccine: Report

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

 Listen to the Article (6 Minutes)

Summary

Moscow has decided to ramp up Sputnik V doses to more than 50 lakh next month and over 1 crore in July.

Russia will be sending a second consignment of its Sputnik V COVID-19 vaccine, carrying 1.50 lakh doses, in the next two days. Another consignment of 30-lakh jabs, in partnership with Dr Reddy’s Laboratories, will land in Hyderabad by May-end, a media report said.

Moscow has decided to ramp up Sputnik V doses to more than 50 lakh next month and over 1 crore in July, the Hindustan Times reported.

Apart from the vaccines, Russia is also sending at least four medium oxygen generating trucks, each with a capacity to feed a 200-bed hospital, according to diplomats based in New Delhi and Moscow, the report mentioned.

These trucks produce 70 kg oxygen per hour and 50,000 litres per day. Also, 60 large oxygen concentrators, as part of private donation, are already on the way to India from the country, the report added.

The first batch of 1.50 lakh doses of Sputnik V arrived in India on May 1, the day India officially opened its third phase of vaccination to people in the age group of 18 to 44 years.

Dr. Reddys and Russian Direct Investment Fund entered into a deal in September last year to conduct clinical trials of Sputnik.

Sputnik V vaccine with an efficacy rate of over 90 percent against the Coronavirus disease, is the third vaccine after Covaxin and Covishield to be given approval in India. It, however, was given regulatory approval or restricted use authorisation in India on April 12.

Based on human adenoviral vectors, the Sputnik V is among the only three vaccines in the world to have an efficacy of over 90 percent against SARS-CoV-2, the other two being Pfizer and Moderna.

The report said other medical supports like 75 ventilators, 20 large capacity oxygen concentrators and 150-bed monitors, sent by Russia in its first batch of aid, have been sent to Kalawati Hospital in Delhi.

Russia has also supplied 2 lakh tablets of Fafivir, used for treatment in the early stages of the COVID-19, to all central AIIMS facilities in north India.

India has reported over 4 lakh cases in the last 24 hours, the highest-ever single-day rise in the world. There were 3,980 COVID-19 related deaths.

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

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
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 5 Minutes Read

Delay in open interest data update on NSE irks traders

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

 Listen to the Article (6 Minutes)

Summary

Market traders continue to face technical glitches at India’s largest bourse National Stock Exchange (NSE) as many complained in the morning of May 6 that the Open Interest feed was not updating.

Trading members and their clients continue to grapple with technical glitches at the National Stock Exchange (NSE), with many complaining that the feed for outstanding positions–also known as Open Interest–in equity derivatives contracts,  was not updating.

The Open Interest (OI) on NSE’s futures and options segment for Nifty50 and Bank Nifty was not updating on the NSE’s website for some time in the morning. The exchange has now resolved it.

Many traders took it to Twitter to complain about the technical glitch.

“Again today, we are seeing issues in Open Interest which is coming from #NSE today, for FO segment. OI is not updating. Issue at NSE end. No issues in NSE CDS & MCX segments,” wrote a Twitter user.

Open interest or OI measures the total level of activity in the futures market. It  is the total number of outstanding contracts that are held by market participants at the end of each day,  and in conjunction with the latest prices, gives traders an idea if the trend in that contract is bullish or bearish.

Today being the weekly expiry of F&O segment, traders heavily rely on these figures to decide whether to carry forward their trade to next week series or close their position.

Nifty & Bank Nifty contracts account for roughly 90 percent of index trading on the bourse.

NSE had recently faced huge criticism after a technical glitch on February 24 led to the suspension of trading for hours, which the bourse later clarified was due to affected links from telecom service providers.

The exchange drew more flak for extending trading hours that day, without giving adequate notice to market participants. Many clients who had outstanding cover orders were asked by their brokers to square off the positions because of margin related issues.

Market regulator Securities and Exchange Board of India (SEBI) had advised the exchange to carry out a “detailed root cause analysis of the trading halt” and had also sought an explanation from NSE as to why trading was not migrated to the disaster recovery site.

 

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
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 5 Minutes Read

Trading computers can’t handle Berkshire Hathaway’s stock price

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

 Listen to the Article (6 Minutes)

Summary

Berkshire Hathaway Inc. stock is trading at more than $421,000 per Class A share and only is expected to rise more. Normally this wouldn’t be a cause for concern, but the stock price is quickly approaching the maximum limit of digits that exchange computers can handle currently.

Berkshire Hathaway Inc. stock is trading at more than $421,000 per Class A share and only is expected to rise more. Normally this wouldn’t be a cause for concern, but the stock price is quickly approaching the maximum limit of digits that exchange computers can handle currently.

The exchange computers use a 32-bit system to store data in binary, the computer language made out of zeros and ones. The largest possible number is two to the power of 32 minus one, which is 4,294,967,295.

Since stock prices are often depicted up to 4 decimal digits, the maximum possible price that can be displayed is $429,496.7295. Worryingly close to the levels of Class A share prices of Berkshire Hathaway.

Nasdaq Tuesday temporarily stopped displaying the prices for the Class A shares of Berkshire Hathaway over various data feeds. Even other stock exchanges like IEX Group Inc., had said months earlier that it would stop taking orders in Class A shares  “due to an internal price limitation within the trading system,” a Wall Steet Journal report said.

Berkshire Hathaway’s Class A shares far outstrip any other share currently being traded in the US. The second-highest stock prices (on an absolute basis) are of NVR Inc., with a price of around $5,100.

The reason for the astronomical prices is mostly because of Berkshire Hathaway’s CEO and Chairman Warren Buffet’s decision on splitting stocks.

Warren Buffet, who recently announced Greg Able as his successor, refuses to execute a stock split because it would open up the company to unsophisticated investors.

Read here: Warren Buffett names his likely successor at Berkshire Hathaway

The company instead offers its Class B shares for those looking to invest at a lower price point.

His decision to not execute a stock split has been criticized by many even as the legendary investor refuses to budge.

While NASDAQ rushes to upgrade its systems along with other exchanges in a similar position, NYSE has confirmed that Berkshire’s listing wouldn’t be affected by its own systems.

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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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

World food price index climbs in April, highest since mid-2014: FAO

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

 Listen to the Article (6 Minutes)

Summary

he Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 120.9 points last month versus a revised 118.9 in March.

World food prices increased for 11th consecutive month in April, hitting their highest level since May 2014, with sugar leading a rise in all the main indices, the United Nations food agency said on Thursday. The Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 120.9 points last month versus a revised 118.9 in March.

The March figure was previously given as 118.5.

The Rome-based FAO also said in a statement that new forecasts pointed to growth in both world wheat and maize output in the coming season.

FAO’s cereal price index rose 1.2 percent in April month-on-month and 26 percent year-on-year. Worries about crop conditions in Argentina, Brazil, and the United States pushed maize prices up 5.7 percent last month, while wheat prices held largely steady. By contrast, international rice prices slipped, FAO said.

FAO’s vegetable oil price index rose 1.8 percent on the month, pushed higher by rising soy, rapeseed and palm oil quotations, which offset lower sunflower oil values.

Dairy prices rose 1.2 percent, with butter, skim milk powder, and cheese all lifted by good demand from Asia, while the meat index climbed 1.7 percent. FAO said both bovine and ovine meat quotations rose, supported by ”solid demand” from East Asia.

After a sharp drop in March, sugar prices rebounded in April, posting a 3.9 percent increase on the month and an almost 60 percent surge on the year. The monthly increase was prompted by strong buying amid concerns over tighter supplies in 2020/21, due to a slow harvest in Brazil and frost damage in France, FAO said.

FAO raised its forecast for global cereal production in 2020 by 1.7 million tonnes to 2.767 billion tonnes, 2.1 percent up on 2019 levels.

The UN agency also provided its first outlook for wheat in the 2021/22 season, forecasting production at 778.8 million tonnes, up 0.5 percent on the 2020 estimate, lifted by an anticipated 6 percent increase in output in the European Union.

FAO also said that early prospects for global coarse grains production in 2021 pointed to a likely third consecutive year of growth, mostly related to maize.

It said the forecast was driven by expectations of increased planted areas in Brazil, China, Ukraine and the United States, as well as recovering yields in the EU.

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?