Month: April 2024

Lok Sabha elections 2024: Inner Manipur to Arunachal West, key seats in North-East India

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

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India will go to the 2024 Lok Sabha polls across all 543 parliamentary constituencies in seven phases from April 19 to June 1. The counting of votes will take place on June 4. The Northeastern belt of India has seen the dominance of regional parties in the past general elections. For the Lok Sabha elections 2024, in the northeast, the polling will be held on April 19, 26, and May 7 in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim.

Among them, Assam comprises the maximum number of parliamentary constituencies (14). While Manipur, Meghalaya, Arunachal Pradesh and Tripura have two Lok Sabha seats each, the remaining states — Sikkim, Nagaland and Mizoram — have been allocated one seat each in the Lower House of the Parliament.

Here’s a look at some of the key seats in the Northeast for the 2024 Lok Sabha elections:

1. Arunachal West

Union Minister and BJP leader Kiren Rijiju is seeking a third consecutive term from this seat in the 2024 polls. He first won from this constituency in the 2004  elections but lost to Congress candidate Takam Sanjoy in the 2009 polls.

Rijiju has been fielded by the BJP from Arunachal West again. He is pitted against former Chief Minister and state Congress president Nabam Tuki. Rijiju defeated Tuki in the 2019 polls by over 1.74 lakh votes.

2. Inner Manipur

Once a Congress stronghold, this seat was wrested by BJP’s Dr RK Ranjan Singh in the last elections when he defeated Oinam Nabakishore Singh, who represented the grand old party, by over 17,000 votes.

In 2024, the BJP has fielded Thounaojam Basanta Kumar Singh from Inner Manipur. He is the state Education and Law Minister. He is contesting against Congress’ debutant Dr Angomcha Bimol Akoijam, who is a teacher at the Jawaharlal Nehru University (JNU) in Delhi.

3. Shillong

Since 2009, this Lok Sabha constituency has been held by Congress leader Vincent Pala, who is now seeking a fourth consecutive term from here. In 2019, Pala defeated Jemino Mawthoh of UDP by more than 1.5 lakh votes. This time, he is up against UDP’s Robertjune Kharjahrin.

4. Mizoram

The lone Lok Sabha seat in Mizoram is currently held by C Lalrosanga of the Mizo National Front (MNF). Reserved for the Scheduled Tribes, this constituency is witnessing a multi-corner contest between the Zoram People’s Movement (ZPM), MNF, the BJP and Congress in the 2024 Lok Sabha elections.

5. Nagaland

The only parliamentary constituency in Nagaland is represented by Nationalist Democratic Progressive Party (NDPP) leader Tokheho Yepthomi, who defeated Congress candidate KL Chishi by over 16,000 votes in 2019.

This time, NDPP has named Chumben Murry as its candidate. He is pitted against Congress’ S Supongmeren Jamir.

6. Tripura West

A bastion of the Communist Party of India (CPI), this seat was wrested by BJP’s Pratima Bhoumik in the 2019 polls. She won by a margin of over 3 lakh votes.

To secure a second consecutive win from here, the BJP has this time fielded former chief minister Biplab Kumar Deb. The Congress is represented by its state president Ashish Kumar Saha.

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

Bitcoin sinks on ebbing Fed rate cut bets and cooling ETF demand

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

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Bitcoin sank amid cooling demand for dedicated US exchange-traded funds and ebbing bets on looser Federal Reserve monetary policy.

The digital asset fell as much as 5.3% before paring some of the drop to change hands at $66,735 as of 1:10 PM Tuesday in Singapore. Tokens earlier favored by the meme crowd such as Pepe and dogwifhat also slumped, consigning a gauge of smaller digital assets to its biggest two-day slide in about two weeks.

This year’s steep crypto rally is losing steam as lingering US price pressures lead investors to curb wagers on Fed interest-rate cuts, lifting Treasury yields and the dollar. That’s a more difficult backdrop for speculative corners of global markets such as the digital-asset sector.

The changed views about the Fed are having an impact “across crypto, where there has been a selloff as the week gets underway — no sector is unaffected, especially those where prices have outperformed Bitcoin over last six months, for example memes,” said Stefan von Haenisch, head of trading at OSL SG Pte.

Bitcoin has shed about 10% since hitting a peak of $73,798 in mid-March. A flood of daily inflows into US spot-Bitcoin ETFs has eased, weighing on the largest digital asset. On Monday, investors pulled a net $86 million from the batch of 10 products, which have attracted about $12 billion since going live on January 11, according to data compiled by Bloomberg.

The crypto market looked “weak” over the past 12 hours in the wake of the latest US economic data, said Richard Galvin, co-founder of DACM.

The figures showed that US manufacturing unexpectedly expanded for the first time since September 2022 and input costs climbed. Following the report, the amount of Fed easing priced into swap contracts for this year slid to around 65 basis points — less than forecast by policymakers.

The supply of new Bitcoin tokens is set to halve this month, a four-yearly event some traders view as a prop for the cryptocurrency. Others argue further gains will be hard to come by given the token has quadrupled since the start of 2023.

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

World Autism Awareness Day: Causes, symptoms and other things to know

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

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Autism Spectrum Disorder (ASD) is a serious developmental disorder that affects a person’s general ability to communicate and interact with others. The disorder impacts the nervous system and the general cognitive, emotional, social, and physical health of an individual. An autistic child experiences the symptoms within the first year of birth.

The World Autism Awareness Day is observed on April 2, and it highlights the need for improvement of lifestyle of the affected people to make them feel they are also an integral part of the society.

Causes of Autism

Several studies say that Autism is caused mostly by genetic and environmental influences, including social determinants. Most people are affected just during early brain development. Many autism risk genes influence the other genes to increase or decrease the severity of the disorder.

According to a report by the National Institute of Environmental Health Sciences, certain environmental influences like advanced parental age, direct exposure to air pollution or certain pesticides, maternal obesity, diabetes or immune system disorders, extreme prematurity, birth complications leading to periods of oxygen deprivation to the baby’s brain may cause Autism.

Symptoms of Autism

Some children experience the symptoms of Autism Spectrum Disorder in early infancy. They generally experience signs like reduced eye contact, lack of response, etc. It is also observed that some children experience the symptoms after a few months or sometimes after some years. Each child affected with autism is likely to have different patterns of behaviour and level of severity.

Some children affected by the disorder have difficulty in learning and understanding. They often find it hard to communicate with the outside world and also adjust to social situations. Due to the unique mixture of symptoms in each child, the severity of the disorder is hard to determine.

Some well-known symptoms

• Failing to respond when they are called by their names
• Poor eye contact and lack of Facial expression
• Repeating sentences that someone other spoke
• Failing to understand simple questions or directions
• Performing activities that can result in self-harming
• Fascinated with moving objects like the moving wheel of a car.

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

CM Kejriwal spends restless night in Tihar, his sugar level low, say jail officials

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

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Delhi Chief Minister Arvind Kejriwal, who has been remanded in judicial custody till April 15 in the excise policy case, paced up and down his 14X8 feet cell on his first night in Tihar jail, managing only to sleep for a while, a prison official said.

According to prison officials, Kejriwal was brought to Tihar jail at 4 pm on April 1 and was medically examined before being sent to his cell where he was staying alone. His sugar level was below 50 at that time and medicines were given to him on the advice of doctors, he said.

India’s first sitting chief minister to be lodged at Asia’s largest prison has been kept in jail number two. His family is likely to meet him on Tuesday, April 2, an official said.

The chief minister was given tea in the afternoon and was served home-cooked food for dinner, a source said on Tuesday, adding that he has been given a mattress, blankets, and two pillows.

He slept on a cement platform for some time and was seen walking in his cell late in the night, the source said.

In the morning, Kejriwal’s sugar level was still low and he is under the watch of Tihar jail doctors, prison officials said. He is allowed to have home-cooked food in lunch and dinner and it will be served daily, till his sugar level comes to normal, they said.

Kejriwal, who is also the AAP national convener, meditation in his cell in the morning after which he was served tea and two biscuits, sources said.

Two personnel from Tihar Jail Security and a jail warder have been deployed outside his cell. Jail authorities are keeping a watch on him through the CCTV cameras, while a quick reaction team has also been deployed near his cell, officials said.

The books he had requested — Ramayana, Mahabharata, and ‘How Prime Ministers Decide’ — have been provided to him. He has also been allowed a religious locket that he wears.

As per the rules, Kejriwal has given a list of six people whom he would like to meet. The list includes his wife Sunita Kejriwal, their son and daughter, his private secretary Bibhav Kumar and AAP general secretary (organisation) Sandeep Pathak.

A Delhi court on Monday sent Chief Minister Arvind Kejriwal to judicial custody till April 15, noting the Enforcement Directorate’s contention that his release could hamper the investigation into the Delhi excise policy-linked money laundering case. Underscoring that Kejriwal was misleading it, the federal probe agency said it was still investigating the chief minister’s role, unearthing the further proceeds of crime and identifying the other persons involved with the activities related to the proceeds of crime.

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

Mankind Pharma will sell OTC business on a slump sale basis to yet-to-be formed unit

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

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Mankind Pharma Ltd. has approved the sale of its “Over The Counter” business to a yet-to-be-incorporated wholly-owned subsidiary.

Although the company has not disclosed the exact value of the transaction, it mentioned that it will not be less than the fair market value of the OTC business, determined as per the Income Tax Rules, 1962.

For financial year 2023, the OTC business generated revenue of ₹704 crore, which was 8.7% of Mankind Pharma’s annual revenue of ₹8,127 crore.

Mankind Pharma intends to incorporate a wholly-owned subsidiary by the name of Mankind Consumer Products Pvt. Ltd. or any other name approved by the Registrar of Companies of the Ministry of Corporate Affairs. It will continue to have business operations with the unit on an arm’s length basis.

The slump sale will enable the company to remain agile in the marketplace, build a wider consumer reach and will also create a strong brand recall for the OTC business, Mankind Pharma said in the exchange filing as part of its rationale for the slump sale. It further said that it has been evaluating its position, business strategy and exploring various options to grow the OTC business.

Mankind’s new subsidiary will have an initial paid-up capital of ₹5 crore with a further investment of up to ₹250 crore in one or more tranches, as may be decided by the board.

A Slump Sale is the sale of any undertaking as a going concern, where the consideration is in lump sum and individual values are not taken into account.

Shares of Mankind Pharma are trading 2% higher at ₹2,356. The stock has risen 65% in the last 12 months.

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

HG Infra Engineering shares hit all-time high on bagging orders worth ₹156 crore in Rajasthan

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

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HG Infra Engineering Ltd shares gained more than 10% to hit an all-time high ₹1,098.4 apiece on the BSE on Tuesday, after the company announced it had receiving orders worth ₹156 crore in Rajasthan.

In a stock exchange filing, HG Infra Engineering said that its consortium with Stockwell Solar Services Private Ltd has been awarded contracts for two solar power plant projects by Jodhpur Vidyut Vitran Nigam Ltd. Both the orders need to be executed within 12 months, with the operation and maintenance period set at 25 years from the commercial operation date (COD) for each of the projects, the company informed the bourses.

Of the two contracts awarded to the consortium by Jodhpur Vidyut Vitran Nigam, one is for the design, survey, supply, installation, testing, commissioning, operation and maintenance for 25 years from the  commercial operation date of grid connected solar power plant through the RESCO mode.

As per the order details, the contract is awarded for the company’s associated 33KV line/ 11 KV line to connect the various plants with corresponding 33/11 KV GSS and remote monitoring system (RMS) of solar power plant(s) for solarisation of agriculture consumers connected on 11 KV feeders of the GSS, under the KUSUM Scheme in Churu, Rajasthan.

The total solar plant capacity of this project stands at 11.56 MW, and the tentative estimated construction cost amounts to ₹49 crore, including GST.

The other project awarded by Jodhpur Vidyut Vitran Nigam is for the plant located in Bikaner, Rajasthan. It has a total solar capacity of 25.10 MW, and has a tentative estimated construction cost of ₹107 crore, including GST.

Shares of HG Infra Engineering were trading 10.11% higher at ₹1,094.2 apiece on the BSE at 12:20 pm.

Also Read: CAMS to facilitate issuance of insurance policies in ‘electronic mode’

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

Bajaj Auto aiming for high double-digit growth for Triumph

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

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Bajaj Auto is targeting a high double-digit growth for its premium bike brand, Triumph.

Rakesh Sharma, Executive Director at Bajaj Auto said achieving the target will depend on the pace of distribution.

Triumph achieved sales of over 6,000 units this month.

“We are building the brand position, we are putting in place programs that will not just lift brand awareness but will differentiate the brand and give an experience to a customer who’s entering the Triumph world,” Sharma said.

Read the edited excerpts of the interview below.

Q: What about Triumph? How our sales are shaping up as of now what’s the run rate and where do you see that number headed?

A: So Triumph overall this month, we have clocked over 6,000 units. There has been a good uptick in exports, many markets are now receiving the bikes made out of here. So that’s about over 4,000 units, and about 2,100 units of sales in India, retail sales I am talking about. And this would be in about 30-40 cities. So it’s a very steady progress.

It’s a new brand, we are now building as we are expanding the network. We are building the brand position, we are putting in place programs that will not just lift brand awareness but will differentiate the brand and give an experience to a customer who’s entering the Triumph world. And that is the kind of capability that we want to build over this year. So as we introduce more and more products, and as we expand distribution, brand awareness brand differentiation, and brand equity will drive the market shares.

Q: So from 6,000 units how do you see this number shape up?

A: We would definitely look at very high double-digit growth; it depends a lot on the pace of the expansion of our distribution. We are at this point of time, again, going quarter by quarter and ensuring that Q1, which is this quarter (April-June 2024) will be at least you know 30% better than the previous quarter.

Q: Talking about EVs, Chetak electric scooter did very well in the month of March this whole record unit, the industry itself did very well. But now April onwards or July onwards suppose the FAME subsidies are pulled out entirely then how do you see the way forward for the entire EV (electric vehicle) sector? Just trying to understand any low-cost EC that could be in the making for Bajaj.

A: Beginning April, the subsidy has already been announced by the government to be half of what it was. So that reduction is taking place. And that’s why you see a very strong blip for the industry in March. I expect that April will be low, but when you put March, April, and May together, we will come to the average level that we have been seeing in January, and February. The penetration levels obviously slows down when the net effective prices to the customers increase, but the customer is pretty switched on to the prospect of EVs. So more than anything else, it is going to continue to drive penetration albeit at a lower rate. We expect a growth of 20 to 25% over the year.

The other thing that is happening is that the battery prices are coming down and the cell costs are coming down. As a result, it gives us a little more room to have better pricing to mitigate the withdrawal of the subsidy to the customer. Therefore, I would say about 20-25% growth rate through the year can be expected and certainly the focus of the industry will probably now move more towards lower priced products or that kind of segment rather than very performance-oriented. Probably, we will go more towards the value products, which will also drive the industry. We have a strong pipeline and you will see within this quarter some introductions from us, which will carry our market position even further.

Q: On the EV side, on the two-wheeler front, could you give us a sense of, where do you, at the end of March what’s your market share? Fourth quarter market share?

A: Our performance, if I take the latest numbers which have just sort of rolled in, and these are basis Vahan registration and not billing numbers, we are in the number three position with, I think, 13 to 14% market share. This is a very significant change from last year when we were at this time at 5% and at a number six position. We have renovated and refurbished our Chetak range just in the last quarter January, February, March, and we are going to add to it. So, that has driven some of this increase.

When it comes to the industry, distribution plays a key role. But I think most of the major players are pretty well distributed. The swings that we see in market share in some competitors is largely attributed to pricing changes. And if you track the price movements over the last few months, including the introduction of cheaper newer products, I think on the balance what has driven shares is really a very high price-led initiative rather than distribution.

The EV is such a compelling proposition that if I have, let us say, five stores in Mumbai, people will go to those five stores, just having 50 stores in Mumbai is not going to suddenly change the fortunes dramatically. So there is a certain optimum level of distribution, so that the channel is healthy and the channel is motivated, and the channel is sort of investing behind the business. So I would say that it is really attacking the lower segment, price-wise, and to some extent distribution.

For full interview, watch accompanying video

Also Read | Bajaj Auto sees 25% jump in sales in March, expects continued exports recovery in FY25

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

CAMS to facilitate issuance of insurance policies in ‘electronic mode’

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

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In a huge development, Computer Age Management Services Ltd’s wholly-owned subsidiary — CAMS Insurance Repository Services — will be an agency for facilitating issuance of insurance policies in “electronic mode” as mandated by IRDAI with effect from April 1, 2024.

“CAMS Insurance Repository Services Limited, (‘CAMSREP’) one of the wholly owned subsidiaries of the company is an IRDAI registered Insurance Repository and is facilitating the issuance of policies in the electronic mode,” the Chennai-based company, which is a registrar and transfer agency for mutual funds, said in a filing on Tuesday.

CAMSREP was incorporated in 2011 is presently touted to be the second-largest repository in the country with 60 lakh e-Insurance accounts and 72 lakh electronic policies maintained in its repository. CAMSREP is engaged with over 45 insurers both life and non-life insurers for their electronic policy issuance, CAMS said in a statement.

The company is also in the process of establishing Bima Central platform as an industry solution to facilitate policyholder transaction from a single platform, as per an update.

On the financial front, CAMS recorded a 21% increase in profit after tax (PAT) at ₹89 crore for the quarter ended December 2023. Its revenue rose by 19% to ₹290 crore in the quarter.

“We had a very satisfactory quarter both in terms of posting strong financial results and in maintaining our deep focus on operational excellence. Revenue growth at 19% and PAT growth at 21% year-on-year is the culmination of robust performance across our revenue streams,” Managing Director Anuj Kumar had said post the earnings announcement.

At 12:44 pm, shares of CAMS were trading 5% higher at ₹3,140 apiece on the NSE. The stock has gained nearly 20% so far this year.

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

West Bengal Lok Sabha elections: Schedule, seats, BJP candidates and more

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

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West Bengal, with the third highest number of Parliamentary constituencies (42) after Uttar Pradesh (80) and Maharashtra (48), is up for a fierce political battle in the 2024 Lok Sabha elections, with the Bharatiya Janata Party (BJP) taking on Mamata Banerjee-led Trinamool Congress (TMC) and others.

The seven-phase general elections will be held across all the 543 Lok Sabha seats in the country from April 19 to June 1, while the counting of votes will be done on June 4.

In West Bengal, voting will be held in all seven phases of the polls.

During the 2019 Lok Sabha elections, the TMC won the maximum number of seats in West Bengal — 22 — securing a 43.3% vote share. The BJP won 18 seats with 40.7% votes, while the Congress was restricted to only two seats with just 5.67% votes.

Despite TMC winning most of the seats, one of the major highlights last time was how the BJP — restricted to a mere one and two seats in 2009 and 2014 polls — put up a strong show in the state, widening its reach to maximum parliamentary constituencies in the states.

The TMC, a member of the Opposition’s INDIA bloc, has decided to go solo in the state and contest all the 42 seats.

In the 2024 Lok Sabha elections, West Bengal is witnessing a multi-cornered contest between the BJP, the TMC, Congress and the Left Front.

West Bengal Lok Sabha elections: Voting dates

Voting for the 2024 general elections in West Bengal will be conducted across all the seven phases on April 19, April 26, May 7, May 13, May 20, May 25 and June 1. During the 2019 elections, the state saw a total voter turnout of 81.76%.

West Bengal Lok Sabha elections: Total seats

There are 42 parliamentary constituencies in West Bengal. Out of these, 10 seats are reserved for SC and two seats are reserved for the ST. The rest, 30 seats, are unreserved.

West Bengal Lok Sabha elections: BJP candidates

After a strong performance in the 2019 polls and the 2021 state Assembly polls, where it was able to win 77 of 294 seats, the BJP will be eyeing to unsettle the Mamata Banerjee-led TMC in the state and win as many Lok Sabha seats as possible.

Here’s a look at the candidates announced by the BJP in West Bengal so far:

Here’s a look at the candidates announced by the BJP in West Bengal so far:

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

Newsletter | Aditya Birla Fashion & Retail demerger; New credit card usage rules & more

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

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Here are the top 11 news stories across business, global events, tech, and more

#LatestNews⚡

Aditya Birla Fashion to demerge Madura Fashion business into separate listed entity

Apparel retailer Aditya Birla Fashion and Retail Ltd. (ABFRL) on Monday (April 1) announced plans to demerge its Madura Fashion & Lifestyle segment into a separate listed entity.

The decision seeks to create two distinct growth engines with well-defined capital structures and value creation trajectories, the company said. This strategic move comes in response to the company’s recent losses over the past three quarters, attributed to subdued demand and increased investments in certain brands.

The proposed demerger will see the Madura Fashion & Lifestyle business segment, comprising lifestyle brands such as Louis Phillippe, Van Heusen, Allen Solly, Peter England, American Eagle, Forever 21, Reebok and Van Heusen innerwear, forming a separate listed entity.

Read here

Aditya Birla Fashion shares gain most since June 2020 on Madura demerger plans

JNU student on indefinite strike against ‘inaction’ over sexual harassment complaint

A female student at the Jawaharlal Nehru University has started an indefinite strike at the main gate of the campus, alleging inaction by its administration over her sexual harassment complaint against four people. She alleged that she was sexually harassed on the night of March 31 on the campus by four people, including two former students. The university administration has ordered an inquiry into the incident.

The complainant, however, claimed that the perpetrators of the crime were roaming around freely. “It has been more than 30 hours since I first filed the complaint and no action whatsoever has been taken yet. There have been a bunch of formalities; my friends and I have been at the administration, leaving our classes, demanding justice, and doing all we can, while the perpetrators are roaming freely,” she claimed.

Read here

#TechTalks📱

OpenAI makes ChatGPT’s accessible without requiring sign ups

OpenAI will start allowing users to access its free-to-use ChatGPT generative AI chatbot without needing to sign up for the service beginning Monday, the Microsoft-backed startup said on Monday.

ChatGPT, which kickstarted the GenAI boom in late 2022, can mimic human conversation and perform tasks such as creating summaries of long text, writing poems and even generating ideas for a theme party.The San Francisco-based company said that it will gradually roll out the feature to “make AI accessible to anyone curious about its capabilities.”

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OpenAI removes Sam Altman’s ownership of its Startup Fund

OpenAI has changed the governance structure of its venture capital fund that backs AI startups, so its high-profile chief executive Sam Altman no longer owns or controls the fund, according to a filing with the US Securities and Exchange Commission (SEC).

The change, documented in the March 29 filing, came after Altman’s ownership of the OpenAI Startup Fund raised eyebrows for its unusual structure–while being marketed similarly to a corporate venture arm, the fund was raised by Altman from outside limited partners and he made investment decisions. OpenAI has said Altman does not have a financial interest in the fund despite the ownership.

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Samsung Galaxy M55 and OnePlus Nord CE 4 to Moto Edge 50 Pro and more, tech launches in April

April has several tech launches in the offing for smartphone enthusiasts, with each product promising innovative features. A series of smartphones from best-known brands like Samsung, Motorola, Realme, and OnePlus are expected to be launched this month. Here’s everything you need to know about the tech launches of April 2014.

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#DailyData📈

#StartupsWorld🌍

Ghost Kitchens India plans to scale up operations, launch retail outlets with $5 million Series A fundraise

Ghost Kitchens India, a food-tech platform, has successfully raised $5 million in Series A funding, comprising a blend of equity and debt.In an interview with CNBC-TV18, Karan Tanna, the founder and CEO of Ghost Kitchens, revealed that the newly acquired funds would primarily be allocated towards scaling up business operations and launching retail outlets.

Tanna articulated, “We have identified what are the brands that work for us and we want to get them on streets so that customers can walk into those stores, enjoy the food, experience the brands and that further helps us to penetrate within every hyperlocal region.”

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Bambrew to utilise ₹60 crore Series A funding for product and geographical expansion

Bambrew, a clean-tech startup focused on sustainable packaging, has successfully raised ₹60 crore in a Series A funding round, blending equity and debt. The funding round was spearheaded by prominent investor Blume Ventures.

Vaibhav Anant, the Founder of Bambrew, highlighted in an exclusive interview with CNBC-TV18 that the infusion of fresh capital will be instrumental in the company’s strategic expansion endeavours. Bambrew aims to diversify its offerings into primary packaging for Fast Moving Consumer Goods (FMCG) and Food & Beverage (F&B) product categories.

Read here

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THE CLIMATE CLOCK |  Indias Booming Biofuel Industry, in conversation with Suhas Baxi Co-founder, BiofuelCircle

#PersonalFinance💰

Indian gold futures hit all-time high mirroring rise in global gold prices

The Indian gold futures hit an all-time high on Monday, April 1, amid gains in the overseas markets. The domestic gold futures rose to ₹69,487 ($834.07) per 10 grams, up nearly 10% in 2024 so far. Domestic silver futures, on the other hand, gained 1.2% to an intraday high of ₹75,965.

As compared to the previous month, India’s gold imports are all set to plunge by more than 90% in March to hit their lowest since the COVID pandemic, Reuters stated citing a government official and two bank dealers.

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Reward points, airport lounge access and more: These credit cards to have new usage rules from April 1

Beginning April 1, major credit card issuers in India, such as SBI Card, ICICI Bank, Axis Bank and others, are bringing in significant modifications to their usage policies, particularly the accrual of reward points and lounge access benefits.Here are some major changes announced by credit card firms so far:

SBI Card overhauls reward points policy

SBI Card has updated its policies on the accrual of reward points. Commencing from April 1, 2024, the accrual of reward points on rent payments will be discontinued for a range of credit cards offered by the lender. AURUM, SBI Card Elite, Simply CLICK SBI Card, are the primarily impacted cards among others.

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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

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