Farmers to call off protest today as govt agrees to demands

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

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Protesting farmers have accepted the revised proposals from the government addressing some of their pending demands such as minimum support price (MSP) beyond rice and wheat, farm union leaders said on Wednesday. Farm union leaders will meet again on Thursday to take a call on calling off the protest.

Samyukta Kisan Morcha (SKM), or United Farmers’ Front, a coalition of farmers unions, in a statement, said on Wednesday that it has accepted the proposal from the Centre, and a consensus has emerged.

“We’ve received a revised proposal from the government. We’ve accepted the proposal, and a consensus has emerged.”

A five-member committee constituted by the SKM for dialogue with the government on the protesting farmers’ pending demands. The panel held a meeting in the national capital to discuss the government’s fresh proposal.

“The discussion is underway on this matter,” says BKU leader Rakesh Tikait on being asked if the issue of the Lakhimpur Kheri incident is also on agenda in discussions with Centre.

Thousands of farmers have staged their long-running protests to persuade Prime Minister Narendra Modi to repeal three agriculture laws from late 2020. Last month, Modi made a surprise u-turn, saying he would roll them back.

Despite Modi’s climbdown, farmers have continued to press the government to meet other demands such as Minimum Support Prices (MSPs) for all produce.

–With agency inputs

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

Marketbuzz Podcast With Reema Tendulkar: Sensex, Nifty50 likely to open higher tracking global markets

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

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Indian equity benchmarks Sensex and Nifty50 are likely to start Thursday’s session on a positive note, a day after the RBI kept the key interest rates on hold and decided to continue with its ‘accommodative’ stance. At 8:52 am, Nifty futures trading on Singapore Exchange — an early indicator of NSE’s Nifty50 benchmark index in India — were up 83.5 points or 0.5 percent at 17,568.5.

About MarketBuzz: The CNBCTV18.com podcast on the big themes, vital news and key events that you should know before the opening bell, powered by CNBC-TV18 anchors. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors Sonia Shenoy, Ekta Batra, Anisha Jain, Nigel D’Souza and Mangalam Maloo to kickstart your stock market investing. Subscribe to our free podcasts on Audioboom or listen on the featured podcast page on CNBCTV18.com.

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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

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

MapmyIndia IPO to open today; should you subscribe?

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

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CE Info Systems’ initial public offering (IPO) worth Rs 1,040 crore opened for subscription on Thursday, December 9. The IPO of CE Info Systems, which owns the MapmyIndia portal, is entirely an offer for sale (OFS) of equity by promoters and existing shareholders. The MapmyIndia IPO will close for subscription on December 13. MapmyIndia is a provider of digital maps, geospatial software and location-based IoT technologies.

Should you subscribe to the MapmyIndia IPO? Here’s what brokerages say:

Angel One

The brokerage has a subscribe rating on the CE Info Systems (MapmyIndia) IPO from a long-term perspective, citing the company’s leadership position in India, client base and the benefits of network effect, healthy margins and return profile as well strong cash conversion.

“MapmyIndia, being a pioneer, has certain advantages as its digital maps and other solutions are localised for the challenging Indian Geography and are extensive in terms of coverage. There is the scope of further up-selling or cross-selling while the maps and platform are constantly updated with validated feedback which can create a network effect. Despite the impact of COVID on key customer market (Automobile & Mobility Tech) in FY21, the
company was able to post revenue growth of ~3% and the margin profile is strong which would be supported with the growing scale going ahead,” Angel One said.

At the upper end of the price band, the company is commanding a price to sales multiple of around 36 times on FY21 revenue and 28 times based on TTM revenues, according to the brokerage.

Motilal Oswal

The brokerage recommends investors with high-risk appetites subscribe to the MapmyIndia IPO for listing gains.

“We like MapmyIndia given its leadership in digital mapping, strong entry barriers, robust profitable data and tech platform along with consistent financials. The issue is valued at 27 times 1HFY22 annualized EV/sales, which although expensive is similar to other Indian unicorns,” Motilal Oswal Financial Services said.

Hem Securities

The brokerage has a ‘subscribe’ rating on the MapmyIndia IPO for both listing gains and for the long term.

The company is bringing the issue at a price band of Rs 1,000-1,033 per share at a P/E multiple of 93 on FY21 EPS, according to Hem Securities. “The company, being a B2B and B2B2C market leader in India with a comprehensive suite of SaaS, PaaS and MaaS offerings, is capitalising on early mover advantage. Being an  independent global geospatial products and platforms company  with strong data governance, the company has a market position built around proprietary technology and network effect resulting in strong entry barriers,” it said.

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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

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

Coronavirus Highlights: AstraZeneca in touch with Indian authorities for approval to COVID drug

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

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With 9,419 more people testing positive for Covid in a day, India’s infection tally rose to 3,46,66,241, while the active cases increased to 94,742, according to the Union Health Ministry’s data updated on Thursday. The death toll climbed to 4,74,111 after 159 fresh fatalities were reported, the data updated at 8 am showed. The active cases have increased to 94,742 comprising 0.27 per cent of the total infections, the lowest since March 2020, while the national COVID-19 recovery rate was recorded at 98.36 percent, the highest since March 2020, the Health Ministry said. An increase of 1,009 cases has been recorded in the active COVID-19 caseload in a span of 24 hours. The number of people who have recuperated from the disease surged to 3,40,97,388, while the case fatality rate was recorded at 1.37 percent.

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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

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

The Medicine Box: COVID-19 pandemic shift focus to health tech, says Tata 1MG’s Prashant Tandon

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

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There has been continued growth in India’s health tech market and it has become a new normal post the COVID-19 pandemic. While access to healthcare is a big issue in India, the pandemic had resulted in a fundamental behavioural change and has led many users to try the digital tech route that offers immediate access.

But, can digital health tech replace a physical consult? In this episode of the Medicine Box, CNBC-TV18’s Ekta Batra talks to Tata 1MG’s founder and chief executive officer (CEO) Prashant Tandon to find the answer to this question and for more development in the health tech space in India.

Tandon says the health tech market has a lot of opportunities and competition is only going to grow in this space. According to him, the value pool is very large in health tech and organised players are entering as they understand there is a lot of value in the market.

He said the number of people coming online to learn more about health has become mainstream and over the long term, the principal currency is going to be the trust of the user.

To find more about the valuation of the B2C health tech market and the innovations in this space, watch the accompanying video

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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

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

Fuel prices today: Petrol rates unchanged at Rs 95.41 in Delhi, constant at Rs 109.98 in Mumbai

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

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Fuel prices were unchanged on Thursday across various cities in the country including the national capital Delhi, Mumbai, Kolkata, and Chennai.

Last week, Delhi government lowered the value-added tax (VAT) on petrol to 19.40 percent from 30 percent, bringing down the price of the fuel in the city by about Rs 8 per litre. Accordingly, the price of petrol after the VAT cut in Delhi stands at Rs 95.41 per litre.

The petrol price in Delhi was higher as compared to the NCR cities in Uttar Pradesh and Haryana, where the state governments had announced a VAT cut following the Centre’s decision to reduce the excise duty on fuel prices.

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

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