5 Minutes Read

Backstory: Exit poll results-How it all started and can you trust them?

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

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Summary

Irrespective of doubts over its accuracy, Exit Polls offer an insight into voting patterns

As the countdown for the Sunday counting of votes for the recent round of elections to five state assemblies began, a delectable denouement came out in the form of Exit Polls.

Over the years, the electorate looks forward to the grand spectacle that gradually unfolds on television networks predicting which political party or a combination is likely to form the next government—be it at the Centre or the States.

Thursday evening was no different. Four of the agencies in collaboration with news organisations prophesied victories for the incumbent governments in Assam and Kerala and a change of guard in Tamil Nadu and Puducherry.

In West Bengal, the odds split down the middle. Two of the four pollsters favoured the governing party to continue for a third term while the other two forecasts a closer contest.

west bengal assembly elections exit poll results 2021

The Election Commission of India directions that Exit Polls cannot be telecast/broadcast or disseminated through other means before the last vote is cast, keeps the suspense going till people have spoken.

The underlying factor being that in order to ensure free and fair elections, the vote should enter the polling booth without prejudice or with a feeling, the outcome is determined.

How precise are the Exit Polls? This question crops up after every such exercise and political party (ies) who are shown to be taking away the votes feeling exuberant while those who are on the losing side, dismissing the results.

Exit Polls came into play in 1967 when Warrant Mitofsky employed it in a race for Governor in Kentucky, the USA for a news network and five years later in the national elections. Since then such polls have come to stay as much, if not less than the opinion polls. Exit polls prophecy came under examination especially after the 2000 presidential elections when different networks called the race differently.

In India too, there is a perception that the majority of Exit Polls get it wrong in terms of predicting the number of seats different parties or a combination would secure. Over the years, pollsters have come up with a unique formulation—presenting a broad range either in terms of a band of seats and or vote share extrapolated into seats.

While serious students of political science and parties would analyse the outcome of the Exit Polls and juxtapose it with final results, the perception of a limited degree of reliability of the data remains, even though some polling agency or the other gets it right or is closest to the final tally.

There have been many instances including the last Lok Sabha when many agencies conducting Exit Polls caught the trend and interpreted the outcome right.

“Psephology, the formal study of elections, is only as little older than independent India. Over the last two generations, there have been studies in America…and in Britain… which together with a growing body of work by opinion pollsters, have developed new techniques for looking at voting behaviour…And in the last thirty years there has been some valuable research completed on Indian voting, nationally and locally”, noted authors of the book “India Decides – Elections 1952-1995.

This was recorded by David Butler, Ashok Lahiri and Prannoy Roy in the opening chapter ‘Psephology and India’ in the second and updated volume of the book published in 1995.

Over the past few decades, opinion polls or ‘survey’ have become an integral part of political parties’ poll management. Armed with data that breaks vote in each of the constituencies down to micro-level, parties utilise the data generated to decide on the candidates and other parameters that can tip the scales in its favour.

Interestingly, such is the usage that besides parties at the central and state level, enterprising candidates who aspire for party nomination have their own studies done to back up their strong claim for a ‘ticket’.

Irrespective of doubts over its accuracy, Exit Polls offer an insight into voting patterns and are studied in detail when the poll body publishes final election data after each election.

In a country as large and diverse as India, it is not easy to get the combination of various parameters right. Nonetheless, data miners should continue to fine-tune the scientific study.

—KV Prasad is a senior journalist and has earlier worked with The Hindu and The Tribune. The views expressed are personal.

Click to read his other columns

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
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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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Reliance Retail Q4 net profit surges 45% to Rs 2,247 crore; generates 65,000 new jobs

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

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Summary

Reliance Retail, the retail arm of Mukesh Ambani-led Reliance Industries Limited (RIL), on Friday reported 45 percent jump in its net profit to Rs 2,247 crore for the quarter ended March 31, 2021.

Reliance Retail, the retail arm of Mukesh Ambani-led Reliance Industries Limited (RIL), on Friday reported a 45 percent jump in its net profit to Rs 2,247 crore for the quarter ended March 31, 2021.

Quarterly Performance

Revenue for the quarter surged 24.4 percent at Rs 47,064 crore after the company delivered a resilient performance against the backdrop of an unprecedented and challenging operating environment, arising from the COVID pandemic situation that emerged at the start of the year.

On the operation front, Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the quarter was Rs 3,617 crore, registering a growth of 17.2 percent.

The fourth quarter was a landmark quarter for the business with quarterly revenue and EBITDA at an all-time high despite lesser-than-normative operating conditions.

The gross revenue at Rs 47,064 crore, grew 23 percent Y-o-Y and EBITDA at Rs 3,617 crore, was up 41 percent Y-o-Y. Revenue growth stood at 35 percent Y-o-Y (excluding the impact of the transfer out of the Petro retailing
business) was broad-based across all consumption baskets.

The business opened 826 stores during the quarter, higher than all previous quarters combined, reflecting the acceleration in the pace of new store expansion. The digital commerce business led by JioMart, continued to scale up on portfolio, traffic and customer base, while new commerce continued to onboard merchant partners across consumption baskets with extended geographical coverage.

Annual Performance

The net profit for the year was Rs 5,481 crore higher by 0.6 percent. Cash Profit for the year was Rs 7,457 crore lower by 3.1 percent.

Reliance Retail delivered gross revenue of Rs 1,57,629 crore. Overall revenues (after adjusting for the impact of the transfer out of the petro retailing business) grew at 2% Y-o-Y despite store closures (80% stores operational), lower footfalls (65% of last year), and operational disruptions through the
year.

At an EBITDA of Rs 9,789 crore for FY21, the business posted its all-time high profit, driven by the gradual rebound of revenue streams, judicious cost management initiatives, and boosted higher investment income.

As operating curbs were lifted, new store openings resumed with 1,456 stores being added. This notably would be amongst the highest offline expansions undertaken by any retailer across the world in the COVID-constrained context. The total store count stood at 12,711 stores, covering 33.8 million sq ft. at the end of the year.

The business continued to attract and serve millions of customers across the country far and wide. The registered customer base now stands at 156 million, a growth of 25 percent Y-o-Y.

Disclaimer: 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

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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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Reliance Industries Q4 cons net profit rises to Rs 13,227 cr; revenue at Rs 1.49 lk cr; O2C biz revenue jumps 20%

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

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Summary

Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs 13,227 crore for the fourth quarter of fiscal 2021, registering a growth of 1 percent as compared to Rs 13,101 crore in the previous quarter.

Reliance Industries Ltd (RIL) on Friday reported a consolidated net profit of Rs 13,227 crore for the fourth quarter of fiscal 2021, registering a growth of 1 percent as compared to Rs 13,101 crore in the previous quarter.

Net profit was lower than CNBC-TV18 Analysts’ poll estimates of Rs 14,800 crore.

Consolidated revenue of the company during Q4FY21 rose 33 percent to Rs 1.49 lakh crore from Rs 1.12 lakh crore, QoQ, beating estimates of Rs 1.45 lakh crore.

On the operational front, Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased 8.2 percent to Rs 23,351 crore from Rs 21,566 crore, while EBITDA margin contracted to 15.6 percent from 18.3 percent, QoQ.

For FY21, RIL’s revenue was at Rs 539,238 crore, EBITDA was at Rs 97,580 crore and net profit for the year was Rs 53,739 crore.

The Mukesh Ambani-led conglomerate’s oil to chemical (O2C) business revenue jumped 20.4 percent to Rs 1.01 lakh crore as compared to Rs 83,838 crore, QoQ.

O2C business EBIT increased to Rs 9,177 crore from Rs 7,647 crore, while the segment’s EBIT margin was flat at 9.1 percent, QoQ,

In February, Reliance Industries announced reorganisation of its oil-to-chemical (O2C) business into a wholly-owned subsidiary – Reliance O2C Limited.

The O2C business comprises refining & marketing and petrochemicals businesses.

“We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business. Sustained high utilization rates across sites and improvement in downstream product deltas, as well as transportation fuel margins, aided O2C earnings growth,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Ltd.

Reliance Industries’ technology arm Jio Platforms reported a net profit of Rs 3,360 crore, higher than Rs 3,4291 crore in the previous quarter. Jio’s revenue was at Rs 17,358 crore. 

Average revenue per user (ARPU) during the quarter was at Rs 138 versus CNBC-TV18 analysts’ poll of Rs 140.50.

The company’s net addition of subscribers in Q4FY21 was at 15.3 million.

Read here: Reliance Jio Q4FY21: Cons net profit at Rs 3,360 crore in line with street expectations

“Our consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times. Jio’s high-speed connectivity services enabled millions of Indians work from home, study from home and even receive healthcare from home,” Ambani said.

Reliance Retail, the retail arm of RIL reported a net profit of Rs 2,247 crore during the quarter under review.

Revenue for the quarter surged 24.4 percent at Rs 47,064 crore after the company delivered a resilient performance against the backdrop of an unprecedented and challenging operating environment, arising from the COVID pandemic situation that emerged at the start of the year.

Read here: Reliance Retail Q4 net profit at Rs 2,247 crore

“Reliance Retail ensured safe supplies of essentials goods and services to customer homes. And while COVID-19 has disrupted livelihoods, we have added nearly 75,000 jobs to the economy, while ensuring the health and safety of our employees and their families,” he added.

On Friday, the shares of Reliance Industries ended 1.42 percent lower at Rs 1994.45 apiece on the BSE.

(Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.)

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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Reliance Jio Q4FY21: Cons net profit at Rs 3,360 crore in line with street expectations

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

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Summary

Reliance Industries’ technology arm Jio Platforms has reported for the fourth quarter of the financial year 2021 a constant revenue at Rs 17,358 crore versus a CNBC-TV18 poll of Rs 17,800 crore. The constant Net profit has come in at Rs 3,360 crore versus the CNBC-TV18 poll of Rs 3,420 crore.

Reliance Industries’ technology arm Jio Platforms has reported, for the fourth quarter of the financial year 2021, a constant revenue of Rs 17,358 crore versus a CNBC-TV18 poll of Rs 17,800 crore.

The constant net profit has come in at Rs 3,360 crore versus the CNBC-TV18 poll of Rs 3,420 crore. In the third quarter, the telecom giant had reported a profit of Rs 3,291 crore.

The cons EBITDA has been reported at Rs 8,573 crore versus our poll of Rs 8,400 crore. The cons EBITDA margin has come in at 46.9 percent versus an expected 47.2 percent.

ALSO READ: Reliance Industries Q4 cons net profit rises to Rs 13,227 crore

The average revenue per user (ARPU) is Rs 138 versus the expected Rs 140.50 according to our poll.

The net subscriber addition in this quarter has been 15.4 million, according to the filing on stock exchanges.

The total subscriber base now stands at 426.2 million versus an expected 418 million by our poll.

ALSO READ: Reliance Retail Q4 net profit at Rs 2,247 crore

Jio-Q4 snapshot
Jio-Q4 snapshot

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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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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 you invest in dogecoin? Here’s what experts think

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

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Summary

Many personalities have also hinted about their vision and dogecoin is hence is making a lot of news.

Dogecoin that started out as a fun or experimental coin has gained a lot of ground in the last few months. Initially, it was made as a joke by Billy Markus and Jack Palmer and never really expected it to take off the way it has. The currency has gained attention, ever since Elon Musk has been tweeting about it.

Many personalities have also shared their views on the trend and dogecoin is hence making a lot of headlines.

Now, the question comes how right it is for individuals to invest in this new buzz?

To understand this, one needs to first take certain points into consideration, including- legitimacy, history of the project, market valuation, etc.

According to Kumar Gaurav, founder and CEO- Cashaa, dogecoin has been in the market for over 7 years now, hence, in terms of its legitimacy, there aren’t any questions.

“Secondly, it is said to have a defined purpose of creating a payment system that is free from traditional banking fees. So, if an investor puts money in the coin, he or she is basically participating in a constructive project, which forms for a good investment,” he states.

However, Gaurav adds that this is only his personal opinion and shouldn’t be taken as any financial advice.

The real reason for the growth of Dogecoin, as per Gaurav, is its low value, which is also helpful to teach new investors about crypto and basic principles of demand and supply in the market.

“The industry is in its initial stages and the value of the coin will grow given the fact that a huge number of people are joining the market every day and they pick something at a low price, to begin with. Dogecoin is at a low price right now and also considerably popular. Hence, it is a good bet, but as an investor, one needs to know when to exit from it,” he affirms.

Ashish Singhal, CEO and co-founder, CoinSwitch Kuber calls this totally a subjective decision.

“Investments in dogecoin is like any other form of cryptocurrency and should be only be done up to an amount that one is fine with losing,” he suggests.

Comparing it to bitcoin, Sathvik Vishwanath, CEO and co-founder of Unocoin tells that while the main reason for the invention of bitcoin is fast and free payments on the internet, the increase in the price of bitcoin and very high transaction fees that needs to be paid to get the transaction in the blockchain is one of the main reason for many to think that dogecoin is a better alternative.

With its transaction confirmation times being less than few minutes, and every coin to be worth no more than a few rupees, Vishwanath believes it is positing itself to be the fast free transfer use-case saviour while bitcoin is establishing itself as a digital gold which is meant to be like a reserve currency on the internet.

The investment into this, he however warns, has appeared to be risker than investment into bitcoin based on its previous trends but the acceptance of the use case by the general public has the potential to make this coin as well a good investment.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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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COVID Heroes: Citizens who came forward to help those in need

The brutal second wave of COVID-19 infections has left the country’s entire healthcare apparatus gasping for breath. Quite literally. The last few weeks have been defined by hospitals in the national capital and across states taking to social media with desperate pleas for oxygen supplies.

Not just that. Vital medicines are in short supply, families are seeing endless waiting times not just for admissions in hospitals but also to cremate those who have succumbed to the virus. In these times, when all else has failed, citizens come forward to help those in need.

Amid the acute oxygen shortage, the Delhi Sikh Gurudwara Management Committee has been arranging ‘Oxygen Langars’ across Delhi for COVID patients in need of oxygen support. Patients pull up to the Gurudwara and oxygen is provided to them in the vehicles that they are in. The organisation is also providing food for those affected by the pandemic.

From Lucknow, Varsha Verma has rented a van and provides a free hearse service to help families carry bodies for cremation. She decided to help others after she lost a friend to COVID and had to wait for several hours before she could get a hearse van.

Nagpur’s transporter Pyare Khan spent Rs 85 lakh for procuring and transporting 400 metric tonnes of oxygen for the city’s government hospitals that are treating COVID-19 patients.

CNBC-TV18 spoke to some of these special citizens who have gone above and beyond the call of duty to lend a helping hand to those in need.

Watch video for more.

 5 Minutes Read

Beyond Binaries: Exit polls suggest Muslim-centric politics may find few takers in the community

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

 Listen to the Article (6 Minutes)

Summary

Alliance with parties seen as expressing Muslim interests may in the long run end up damaging the Congress and left—and, indeed, the discourse of secularism—further

Muslim voters’ quest for parties seen as largely Muslim was a trend that one noticed on some seats in the Muslim-heavy Seemanchal region of Bihar months back. Whether that trend continues in the election results for four states and one union territory will be tested on May 2.

Exit polls released for Bengal, Assam, Kerala, Tamil Nadu and Puducherry, however, suggest that the trend may not continue. The reason: any vote for a party largely perceived as Muslim-heavy only cuts into the votes of the party that is the main challenger to the BJP in a state. Thus, while Muslim-centric politics—which on the surface talks about constitutionalism and not Islam per se but is widely identified as largely Muslim—accuses ‘secular’ challengers of the BJP of not taking up minority issues with sincerity, it ends up dividing Muslim votes and helping the BJP.

Before going into how largely Muslim politics—as opposed to normatively secular politics that talked about minority issues as a major election plank at least since the early 1990s—came up, it is necessary to see what exit polls show.

In Bengal, the state being most-watched in terms of election results, exit polls show a direct fight between the All-India Trinamool Congress (TMC) and the BJP. While the number of exit polls that project a simple majority for the TMC is higher, a few show the BJP winning the elections. However, all exit polls are clear that it is a two-way contest: the third front of the Left, Congress and the Indian Secular Front, founded by the cleric of Furfura Sharif shrine Abbad Siddiqui, does not seem to be in the fray.

Exit polls show the third front scoring below 20, meaning that the 27-percent Muslims of Bengal have chosen to largely vote for the TMC to keep the BJP at bay and ignored the ISF.

In Assam, the situation is different. Here, the Congress, the main competitor of the BJP, entered into an alliance with the AIUDF of Badruddin Ajmal to ensure that Bengali-speaking Muslim votes do not split. Exit polls show the BJP-AGP alliance as having a clear edge over the Congress-AIUDF. In Assam, therefore, the dichotomy between a ‘secular’ party and a party identified largely as a Muslim vote-catcher does not exist.

In Tamil Nadu, where there is a straight fight between the DMK-led alliance and the AIADMK-led alliance, Asaduddin Owaisi of the AIMIM entered into an alliance with TTV Dhinakaran’s AMMK. However, the exit polls again suggest that the DMK is winning the polls, with the AIADMK standing a distant second.

Trajectory of ‘Muslim politics’

With the rise of the BJP around 1990, the ‘secular-communal’ dichotomy sharpened and became a defining factor of Indian politics. The predecessor of the BJP, the Jana Sangh, had in the past done business with the socialists, the Lok Dal and the Congress (O). However, after the demolition of the Babri mosque in 1992, the BJP found it difficult to garner any Parliamentary support for some years despite its electoral rise. The Vajpayee government in 1996 could survive only for 13 days, as it could not garner support in the Lok Sabha to prove its majority. However, Atal Bihari Vajpayee, considered the moderate face of the party, could form a 13-month NDA government in 1998 and complete a full five-year term when he came to power again in 1999.

Yet, for more than two decades after 1992, secularism was the idea around which Muslim votes were garnered across India by whichever party was in a position to beat the BJP.

The rise of Narendra Modi in 2014 shook this arrangement, as enough Hindu votes could be garnered by the BJP to make Muslim votes virtually irrelevant in most of north, central and western India. While the BJP could not repeat this performance in some states north of the Vindhyas in state assembly polls, it repeated and even improved upon its 2014 performance in the 2019 Lok Sabha elections.

A related development of the Modi wave was a fall in Muslim representation in states the BJP swept. For, the BJP gave almost no representation to Muslims when it fielded its candidates for elections.

Two patterns became noticeable after this. One, leave alone ensuring that the BJP stays away from power, Muslims also saw their community representation in legislatures decline. Two, the electoral march of the BJP transformed the anti-BJP sentiment among large sections of the Muslim community into some kind of a systemic alienation, with articulate voices from the community on the social media suggesting a loss of faith in institutions among sections of the community.

It is in this void that Muslim-centric politics stepped in, much to the discomfiture of parties like the Congress. Asaduddin Owaisi became the face of this new kind of politics, which had a core Muslim constituency but talked a constitutionalist language. Owaisi also hit out at ‘secular’ parties like the Congress, accusing them of doing nothing for the minorities.

Owaisi tasted his first success outside Telangana when his party won two seats—Malegaon Central and Dhule City—in the Maharashtra assembly polls late in 2019. His party also won a sizeable vote percentage in Aurangabad East and Central, though it lost these seats.

The next impact of Owaisi came in the Bihar assembly elections of 2020, where the AIMIM won five seats. While Owaisi has always claimed to be secular in his political orientation, it is noteworthy that his party contests elections only on seats with a heavy Muslim concentration.

He had announced this time that the AIMIM would not contest polls in Kerala and Assam, as the two states already had the IUML and the AIUDF, respectively, which are both perceived as ‘Muslim’ parties.

Latest patterns

It seems that the gradual rise of Muslim-centric politics is making ‘secular’ parties change tack. The Congress ended up allying with the ISF in Bengal and the AIUDF in Assam. While the Assam alliance seems to have been necessitated by a desire not to allow a split of Muslim votes, which can benefit the BJP, the Bengal alliance has no secular logic, as it can only split Muslim votes and help the BJP.

However, if exit polls are correct, Muslims seem to have preferred the TMC over the ISF in a bid to defeat the BJP. This may suggest that the minority community wants its votes to count and understands that choosing a Muslim-centric party will only help the BJP. One will have to wait till May 2 to see how correct the exit polls are.

However, alliance with parties seen as expressing Muslim interests may in the long-run end up damaging the Congress and left—and, indeed, the discourse of secularism—further. For, not only can it further polarise Hindu opinion but also suggest that identity politics is the default option for India.

And such a message ensures only one long-term winner: the BJP.

Vikas Pathak has been a political journalist for a decade-and-a-half and teaches at Asian College of Journalism, Chennai. The views expressed are personal

Read his other columns here

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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 -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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Telangana extends night curfew by 7 days till May 8: What’s allowed and what’s not

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

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Summary

The curfew order says all offices, firms, shops, establishments, and restaurants have to be closed at 8:00 pm. Movement of all individuals except exempted categories will be prohibited from 9:00 pm onwards.

Telangana on Friday extended its night curfew till 5:00 am on May 8.  The order extending the night curfew, which is already in place from 9:00 pm on April 20, was issued by Chief Secretary Somesh Kumar.

“The Telangana government has extended the night curfew imposed on 20th April, 2021 and is to continue till 5.00 am of 1st May, 2021 for a period of seven days i.e. up to 5.00 am on 8th May, 2021. All the extant provisions of night curfew shall remain in force,” announced a tweet from the official handle of the Telangana chief secretary.

The statewide night curfew is in force from 9:00 pm to 5:00 am on all days.

Telangana recorded 7,646 new COVID-19 cases on April 29, taking the total caseload to over 4.35 lakh while the total death toll stood at 2,261 with 53 more casualties on the same day, according to a government bulletin.

What’s not allowed?

The curfew order says all offices, firms, shops, establishments, and restaurants have to be closed at 8:00 pm. Movement of all individuals except exempted categories will be prohibited from 9:00 pm onwards.

What’s allowed? 

There will be no restrictions on hospitals, diagnostic labs, pharmacies, and those dealing with the supply of essential services. Print and electronic media, telecommunications, internet services, broadcasting and cable services, IT and IT-enabled services, delivery of all goods through e-commerce, petrol pumps, LPG, CNG, water supply, and sanitation services have been exempted from the night curfew.

Cold storage and warehousing services, private security services, and production units or services which require continuous processes will be allowed to operate. Inter-state and intra-state movement of essential and non-essential goods will be allowed during the restricted hours.

Also read: Tamil Nadu extends night curfew, Sunday lockdown: What’s allowed, What’s not

Both state and central government officials can move freely during restricted hours but they will have to show their official identity cards. The same applies to officials of urban local bodies and Panchayati Raj institutions and those on emergency duty.

Private medical personnel such as doctors, nursing staff, paramedics, and other health workers with ID cards will be allowed to travel. Pregnant women and hospital-bound patients, people coming from/going to airports, railway stations, bus stands are also allowed to travel during the night curfew.

Public transport including auto rickshaws and taxis will be permitted to transfer the above-mentioned categories of people during the restricted hours.

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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Startup Street: Here’s a look at the key findings of 100X.VC’s ‘India Sentiment Outlook Survey’

Private equity, Private equity funds

100X.VC, a venture fund that invests in early-stage startups using iSafe notes, has released the second edition of its ‘India Sentiment Outlook Survey’. The survey is based on a sample size of 275 founders from diverse sectors and 77 investors who primarily engage in early-stage ventures.

To know about the key findings of the report and give an in-depth insight into the current early-stage startup landscape of India, CNBC-TV18 spoke to the Founder and Partner at 100X.VC, Sanjay Mehta.

Watch the video for more.

 5 Minutes Read

Taking Stock: Metals continue to add strength and will do well, says Indiacharts’ Rohit Srivastava

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

 Listen to the Article (6 Minutes)

Summary

In this episode of Taking Stock, Ajay Srivastava, CEO of Dimensions Corp, in an interview with CNBC-TV18 took stock of this week’s trading action. Also, Rohit Srivastava, founder & Strategist of Indiacharts.com, gave his view on the technical for the next week.

In this episode of Taking Stock, Ajay Srivastava, CEO of Dimensions Corp, in an interview with CNBC-TV18 took stock of this week’s trading action.

On metals space, Ajay Srivastava said, “It is kind of gravy train express which is not stopping for a while no matter which way you look at. It is a pretty free run. At the end of the day as the government jostle with what is happening on the ground with India they will keep enjoying the benefits of import tariff that has been put in place early last year that is not going to go away either.”

On banks, he said, “Banks are really starring at a barrel for 2-3 reasons. One something which has been happening in the last 1.50-2 years is the arrival of the fintechs. Lot of the big chunk borrowing which was happening at the high interest rates that is moving away from the banks. The second the problem is with no LTRO now where do they go and the third problem is given what is happening in this country at this point of time who wants to borrow the money to do business at this point of time.”

Rohit Srivastava, founder & Strategist of Indiacharts.com, gave his view on the technical for the next week.

Rohit Srivastava said, “Metals continue to add strength and will do well, the pharma is much lower beta sector, people who want to play defensive go there, people who want to be aggressive would still stick with the metals.”

He added, “Look at the PSU stocks because many of them have retraced almost 60-70 percent of the gains that they have made after the budget and gone back to the value zone where they have very high dividend yield. So it fits very much being in the value space and having a good retracement and a good price for entry.”

Watch accompanying video for more.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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

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Should Elon Musk be able to buy Twitter?