5 Minutes Read

Vedanta shares gain 8% as promoters look to raise stake by up to 4.57%

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

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Summary

Shares of mining company Vedanta Ltd jumped 7.74 percent on Tuesday after reports that the company’s promoters, Vedanta Netherlands Investments BV and Twin Star Holdings, are looking to buy up to 17 crore equity shares at Rs 350, for a total valuation of Rs 5,950 crore.

Shares of mining company Vedanta Ltd jumped 7.74 percent to Rs 354 in early BSE trade on Tuesday, after reports that the company’s promoters, Vedanta Netherlands Investments BV and Twin Star Holdings, are looking to buy up to 17 crore equity shares at Rs 350, for a total valuation of Rs 5,950 crore.

At 11:30 am, shares of Vedanta were trading 4.43 percent higher, or up 14.55 points at Rs 342.90 while the benchmark Sensex was trading flat at 58,446.50 paring initial losses.

As of September 30, 2021, the promoter group companies have a purchase offer size of up to 4.57 percent of the total shares outstanding. A purchase offer is an accelerated book build purchase of equity shares.

Also Read: Vedanta promoters looking to up stake in co; details here

JP Morgan India Private Limited is acting as the broker to purchasers Twin Star Holdings Limited and Vedanta Netherlands Investments B.V.

This comes after Anil Agarwal-led Vedanta said on November 17 that it will undertake a comprehensive review of the corporate structure.

The company said it is evaluating a full range of options and alternatives including demerger(s), spin-off(s), strategic partnerships for unlocking value and simplification of corporate structure.

Also Read: Vedanta closes 8.5% lower; stock dips even as Anil Agarwal-backed co announces value unlocking measures

On Vedanta stock, Dipan Mehta, Director, Elixir Equities said Vedanta has been a bit of a laggard as compared to some of the other ferrous and non-ferrous metal stocks.

“I think positive on Vedanta and a correction like this may be a good opportunity. But one should keep in mind that these are great trading stocks, you can hold them for a few months also, but not part of a core holding,” said Mehta.

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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Irked by voluminous records, Supreme Court defers Amazon-Future group case hearing

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

 Listen to the Article (6 Minutes)

Summary

Amazon has moved the Supreme Court against a Delhi High Court order directing the Competition Commission of India (CCI) to decide within two weeks on a PIL filed by the Confederation of All India Traders Association’s (CAIT) in connection with the deal with Future Coupons in 2019.

Irked by bulky documents filed by parties in a batch of petitions arising out of the Amazon Future Retail case, the Supreme Court on Tuesday asked whether the purpose was just to drag on or harass the judges and sought a common small compilation of documents.

A bench comprising Chief Justice N V Ramana and Justice A S Bopanna and Hima Kohli asked the counsel for parties to file small volume of documents so that the matter can be disposed of, and fixed the case for hearing on December 8.

Earlier, Amazon moved the Supreme Court on Tuesday against a Delhi High Court order directing the Competition Commission of India (CCI) to decide within two weeks on a PIL filed by the Confederation of All India Traders Association’s (CAIT).

The high court had issued the order on November 16 regarding CAIT’s plea to CCI that seeks to revoke the competition regulator’s approval to the Amazon-Future Coupons deal.

The court noted, “This is a separate issue, and can be challenged separately. It’s not a part of this Amazon-Future dispute.”

Traders’ body CAIT had on November 10 said it has urged the CCI to revoke the approval granted to Amazon two years ago for its deal with Future Coupons, alleging that the e-commerce major had made false statements for getting the regulatory nod.

The development came following Future Retail Limited’s (FRL) independent directors writing to the CCI Chairman on the matter.

In a regulatory filing, Future Retail said it has received a communication from CCI that it has decided to hear Amazon and Future Coupons Private Limited (FCPL) on January 4, 2022 in connection with the approval given by the regulator to their deal.

In its PIL, CAIT has alleged that CCI is seized of the matter (since March 2021) concerning false and misrepresentations by Amazon while taking approval for Amazon’s investment in FCPL in 2019.

CCI had also issued a show-cause notice on June 4, 2021 to Amazon but 235+ days are over and the regulator is sitting on the matter without taking any decision, it said. It added that CCI, as a regulator, cannot delay deciding a matter which has ramifications on public interest. It had requested that the CCI should be asked to adjudicate and decide this matter within the next few weeks.

The independent directors of FRL have also requested CCI to stop Amazon from “perpetuating its evil non-desirable designs” to make FRL bankrupt and jeopardise Rs 30,000 crore of debt extended by public sector banks to Future group.

In November 2019, CCI had given its approval for Amazon to acquire a 49 percent stake in FCPL and FCPL is a shareholder in Future Retail Ltd.

According to the letter, Amazon had “not disclosed its strategic interest over FRL” while getting approval from the CCI to prevent it from referring the transaction to other governmental agencies that “would have responded that the transaction is illegal”. “Amazon has concealed facts, made misrepresentations and false representations to the Commission,” the letter alleged.

Meanwhile, the separate Amazon and Future dispute that the Supreme Court referred to is that the two companies have been engaged in a legal tussle since October 2020 with Amazon approaching the Singapore International Arbitration Centre objecting to a deal between Future Retail and Reliance Retail in 2019.

Amazon is trying to block the sale of Future Group’s retail, wholesale, and logistics business to Reliance Industries Ltd for Rs 24,713 crore for allegedly breaking contracts. The e-commerce giant argues that the 2019 deal it had with a Future unit contained clauses prohibiting the group from selling its retail assets to anyone on a “restricted persons” list that included Reliance.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

(With PTI inputs)

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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Priyanka Chopra Jonas’ mother rubbishes actor’s split rumours with Nick after frenzy over surnames drop

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

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Summary

Priyanka and Nick had married in 2018. Priyanka recently removed Chopra and Jonas from her name on Instagram.

Madhu Chopra, the mother of actor Priyanka Chopra Jonas, has put an end to speculations about a split between the actress and her husband Nick Jonas. “It’s all rubbish, don’t spread rumours,” Madhu Chopra told News18.

Priyanka had on November 22 dropped both her surnames, Chopra and Jonas, from her Instagram and Twitter profiles leading to widespread speculations among fans and netizens about trouble in Priyanka and Nick’s marriage.

Priyanka Chopra and American singer Nick Jonas married in 2018, in a big traditional wedding in India. The couple met when Priyanka was in the United States shooting for films and TV shows.

The leading actress recently said that the most precious piece of jewellery that she owned was Jonas’ engagement ring that she received as a gift. Talking to Vogue, a leading fashion and lifestyle magazine, she said that the ring was her most cherished possession. The ring reportedly cost $2,00,000 (around Rs 1.5 crore) and was given by Jonas to Chopra in 2018.

The actress and singer also recently celebrated Diwali together at their new home in Los Angeles. Chopra had shared a series of images on her Instagram account.

“Our first diwali in our first home together. This one will always be special. Thank you everyone who worked so hard to make this evening so special. You’re my angels. To everyone who honoured our home and my culture by not only dressing the part but dancing the night away, you made me feel like I was back home. And to the best husband and partner Nick Jonas. You are what dreams are made of. I love you. My heart is so grateful and full. Happy Diwali,” she added in the captions.

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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Audi Q5 2021 India launch today: Check prices, features, availability here

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

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Summary

The Audi Q5 2021 is expected to be priced anywhere between Rs 55 lakh and Rs 60 lakh (ex-showroom).

Audi India will be launching the Audi Q5 2021 for the Indian market on Tuesday. The launch of the SUV, which made its global debut last year, was delayed in the country due to the COVID-19 pandemic.

The car is expected to be priced anywhere between Rs 55 lakh and Rs 60 lakh (ex-showroom). The company has already opened bookings for the car at a token price of Rs 2 lakh.

Some of the changes in the SUV include larger front grilles, full-LED headlights along with LED DRLs, and LED tail lights. It has redesigned silver skid plates, side skirts, roof rails and bumper. Additionally, the new Q5 will come with 19-inch 5 double-spoke star style alloy wheels.

In terms of the powertrain, the 2021 Q5 will only be available in a petrol variant. The 2.0-litre 45 TFSI engine will be capable of producing 247 bhp and 370 Nm of peak torque which is mated to a 7-speed S-Tronic automatic dual-clutch gearbox. The SUV will also come with a mild-hybrid feature with a 12-volt brake energy recuperation system. As standard, the Q5 will come with the Quattro all-wheel drive (AWD) system .

The cabin of the luxury SUV features a new trim of black and tan leather upholstery. A 10.1 inch infotainment system dominates the dashboard. Audi has fitted interiors with features such as Audi Park Assist, comfort key with the sensor-controlled boot-lid operation, Audi Exclusive Inlays in Black Piano Lacquer, Audi Virtual Cockpit Plus, B&O Premium 3D Sound System, new steering wheel, dual-zone automatic climate control and more.

The vehicle is expected to be a segment leader in safety with multiple airbags, ABS with EBD, ESP, traction control and more.

The Q5 will be available in two trims — Premium Plus and Technology.

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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Vedanta a risky bet if commodity cycle turns jittery, Hindalco better placed: Go India Advisors

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

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Summary

Rakesh Arora, Founder of Go India Advisors believes Vedanta will be a risky bet if the commodity cycle turns jittery. He believes Hindalco is better placed among base metals and is the stock to own right now.

Vedanta could be the stock of the day for the second day running as the promoter entity has announced that they are looking to acquire another 4.5 percent stake from the open market. Promoters are looking to acquire up to 17 crore shares at an indicative price of Rs 350 per share, which is a 6.5 percent premium to Monday’s closing price.

“From the shareholders’ point of view, I am looking at a company which is highly risky given the promoter debt,” said Rakesh Arora, Founder of Go India Advisors, while sharing his views.

“If commodity cycle was to turn, this would be only a risky bet,” he added.

The dividend yield is going to remain high but it is risky, Arora shared.

The biggest challenge the promoters have is the debt on their own books which, with this open offer to increase stake, will go up to USD 9.4 billion.

Also Read: Vedanta closes 8.5% lower; stock dips even as Anil Agarwal-backed co announces value unlocking measures

“Servicing this debt of USD 9.4 billion would require close to a dividend of Rs 8,000-9,000 crore every year from Vedanta Ltd,” he said.

So promoters need some solution and there is no solution in sight at the moment, Arora noted.

The restructuring doesn’t add value until and unless Hindustan Zinc shares are also allocated to shareholders.

“The stock is fairly valued, the volatility is going to increase because free-float is reducing,” he said.

According to him, the stock becomes a market performer because no further buyback from the promoters is expected.

Also Read: Vedanta considers listing businesses separately; constitutes committee to look at value unlocking measures

“The stock becomes the market performer and given the gap in valuation, investors would be better switching off to some of the cheap earnings in the same sector,” he stated.

Hindalco is better placed than Vedanta, Arora mentioned.

“Hindalco is definitely a much better company to own right now in base metals,” he said.

For the full interview, watch the accompanying video.

Catch all market updates here.

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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See demand for cryptocurrencies from HNIs, family offices: Ajay Srivastava

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

 Listen to the Article (6 Minutes)

Summary

Ajay Srivastava, CEO of Dimensions Corporate Finance Services, on Tuesday, said that he sees demand for cryptocurrencies from HNIs (high net-worth individuals) and family offices.

Ajay Srivastava, CEO of Dimensions Corporate Finance Services, on Tuesday, said that he sees demand for cryptocurrencies from HNIs (high net-worth individuals) and family offices. Srivastava believes US equities, REITs and cryptos are taking a bite out of the PMS pie, which is why there’s weak demand for the secondary market at present.

On crypto market growing as an asset class, Srivastava said, “So it is certainly growing and we are seeing a greater demand from the older HNIs and the family offices, who have got left out, to say that we need to allocate some portion to it now. ”

He further added, “However, it may take some time and may not happen immediately,  but over time, I have seen universally across the last 30 days and 60 days, all big HNIs and all big family offices are saying that they need to start allocating to cryptos eventually and therefore the allocation to secondary (market) is definitely going to take a hit in terms of cryptos.”

“So there is no doubt in my mind that there is a preponderance of investors who have not been in cryptos in India. In fact, most portfolios don’t have cryptos, if you look at the PMS portfolios, HNIs, family offices, nobody has it actually, it is more a retail phenomenon by and large; and therefore it is affecting the secondary market and people are saying listen, let us do something different compared to equities,” Srivastava mentioned, in an interview to CNBC-TV18.

“So, on one side, the first wave or the US equity buying took place, it took away a little bit of liquidity from India, now cryptos is kind of eating up so there is no alternative,” he explained.

So you have got US equities, REITs and crypto all three taking a bite of the PMS pie today and therefore the demand for the secondary market is a little bit weak, Srivastava shared.

In the week ended November 19, institutional investors poured in $154 million in the crypto sector with a year-to-date total of $9.2 billion, already exceeding total inflows of $6.7 billion in 2020. Bitcoin got the lion’s share of inflows with $114.4 million, equivalent to 74 percent of the total. So far this year, total inflows into bitcoin products and funds hit $6.7 billion.

The Indian government is expected to move the cryptocurrency bill at the start of the winter session of the Parliament. While the earlier draft had proposed a ban on cryptocurrency, the Finance Ministry officials are trying to “fast track” the modified bill.

Finance Minister Nirmala Sitharaman had also said a blanket ban on cryptos is off-table and said the government will take a cautious approach. She also said that the central bank coming up with a “legitimate” cryptocurrency is also a possibility.

“The committee understands this is an important and urgent topic and therefore is calling in industry stakeholders to understand what they see as opportunities and challenges for cryptofinance going forward. All key players from the industry will be there,” Chairman of the Parliamentary Standing Committee on Finance, Jayant Sinha had told CNBC-TV18 last week.

For full interview, watch accompanying video.

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
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Latent View Analytics shares make bumper debut; should you buy, sell or hold stock?

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

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Summary

Latent View Analytics’ shares made a strong market debut on Tuesday, with the stock listing at a premium of up to 169 percent compared with its issue price. Most analysts say investors can hold Latent View Analytics shares for the long term. 

Latent View Analytics’ shares made a strong market debut on Tuesday, with the stock listing at a premium of up to 169 percent compared with its issue price. Chennai-based data analytics firm Latent View’s stock was off opening gains at Rs 489.1 on BSE, still at a premium of 148.3 percent after debuting at Rs 530.

Latent View Analytics’ market debut is the first mainboard listing after that of Paytm parent One97 Communications, and KFC and Pizza Hut outlet operator Sapphire Foods.

Most analysts say investors can hold Latent View Analytics shares for the long term.

Santosh Meena, Head of Research at Swastika Investmart, said investors who played for a listing gain should keep a stop loss at Rs 490. “It is another stellar listing after the disappointment from Paytm which indicates the market is ready and has an appetite to reward quality IPOs,” he said.

“It is a one-of-its-kind listed company with experienced management and quality corporate governance practices. It has a strong client base from Fortune 500 but there is concentration risk because 55 percent of its revenue comes from the top five clients. Revenue growth has been muted for this company however it has a strong margin with more than 20 percent RoE. The overall outlook is bullish but the valuations look expensive after a strong listing,” said Meena, who suggests long-term investors hold the Latent View Analytics stock.

Milan Desai, Lead Equity Analyst at Angel One, said the Latent View listing was along the expected lines. “The IPO provides exposure to pure-play data analytics firms in India. The data being generated across points has increased multi-folds due to continuously improving and evolving technology, and data and analytics have become vital in terms of decision making and strategy for enterprises,” he said. 

Desai believes Latent View Analytics’ strong fundamentals and growth from inorganic initiatives can help the company post strong growth that justifies the valuation of 43 times (TTM) sought by it.

With rising spends on customer analytics by segments like CPG and retail, as well as technology, companies like Latent View that offer niche analytic solutions with focused domain expertise and consulting capabilities are likely beneficiaries. However, the current volatility and uncertainty in the market may curb the enthusiasm, but it should be a rewarding listing for those who got the allotment,” he said.

Parth Nyati, Founder of Tradingo, suggests those who have won the allotment in the IPO to put a stop loss at Rs 450 and hold the stock with a long-term view.

“New investors should look for a dip to buy the stock. It has a first-mover advantage and is backed by strong management and fundamentals with increasing margins… However, the industry is expected to grow at a CAGR of 15-20 percent in the next three years which will aid the company’s revenue,” he said.

Latent View Analytics’ IPO, asking a valuation of 42.6 times its FY21 earnings, was reasonably priced compared with its close peer Happiest Minds Tech, which trades at a valuation of 115 times, said Neha Khanna, Director at ValPro.

“Growth in IT spend is expected to be largely driven by investments in digital technologies as enterprises scale up digital transformation efforts across business units. The investment in digital technologies is expected to double to around $2.4 trillion in 2024 (a CAGR of around 16.5 percent). This presents an immense opportunity for the company, which may help it to continue double-digit growth in the coming years,” she said.

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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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Retailers urge govt to reconsider proposed GST rate hike on textiles, apparels

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

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Stating that the apparel retail businesses are already ailing, RAI said the 7 percent hike has been proposed to address the issue of inverted duty structure in the textile industry faced by a small segment of the total textile value chain.

Retailers Association of India (RAI) on Tuesday urged Finance Minister Nirmala Sitharaman, state governments and GST Council to reconsider the proposed hike in GST rates on several textiles and apparel items to 12 per cent from January saying it will adversely impact 85 per cent of the sector.

Stating that the apparel retail businesses are already ailing, RAI said the 7 percent hike has been proposed to address the issue of inverted duty structure in the textile industry faced by a small segment of the total textile value chain.

“However, such a steep increase in the GST rate will adversely impact 85 per cent of the industry while trying to ease the problem faced by not more than 15 per cent of the industry,” the retailers’ body said in a statement. RAI CEO Kumar Rajagopalan said, “The increase in GST rates on textiles and apparel is not in anybody’s interest due to its impact. On the business side, it will add to the financial burden of an already-stressed sector, slow down its pace of recovery and affect working capital requirements especially in the case of MSME businesses which account for 90 per cent of the industry.” On the consumer side, he added, “It will lead to a rise in the prices of garments, thereby hurting consumption. On the government side, in the long run, it may lead to many unorganised businesses going out of the GST net.” RAI asked “the central and state governments and GST Council to reconsider its decision to prevent a complete collapse of the sector and maintain an atmosphere of hope and certainty.” It further said, “A far more beneficial and reasonable solution is to make the entire value chain subject to a flat 5 per cent GST rate. This will not only resolve the inverted duty structure anomaly but also give a fillip to the industry.” .

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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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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MobiKwik IPO: Fintech company may defer plan amid weak investor sentiment, concerns on biz model

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

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Summary

The company was initially expected to launch IPO in November. MobiKwik’s proposed IPO consists of Rs 1,500 crore fresh issue and Rs 400 crore offer on sale (OFS).

Gurugram-based fintech start-up Mobikwik may defer its plans to go public by a few months amid concerns about investors’ interest and skepticism about its business model following the regulator’s digital lending paper, multiple people aware of the matter confirmed to CNBC-TV18.

Mobikwik, a smaller rival to firms like Paytm, had filed its papers for a Rs 1,900 crore initial public offering (IPO) in July. This included a fresh issue of Rs 1,500 crores and an offer for sale (OFS) for another Rs 400 crores. Market regulator SEBI had subsequently approved the IPO plans on October 7.

“The plan was first to hit the markets around Diwali, and then it (Mobikwik) also wanted to wait for the response to Paytm. Now it is unlikely to go ahead before January-February. It all depends on the markets now because timing has to be right,” said a person involved directly in the matter on the condition of anonymity.

Another investment banker to the company said that while plans were delayed, it could not be predicted when the markets would turn favourable for Mobikwik to be able to launch its IPO. This person added that the firm may be able to go to markets in December if investor response is good, if not, then the plans may be further delayed.

Paytm’s disappointing listing and continued underperformance since played a key role in the decision to defer the IPO plans, said one of the people quoted earlier.

MobiKwik’s unlisted stock was exchanging at around Rs 1,350 before the launch of Paytm’s IPO. Since then, the unlisted share price has fallen to about Rs 900, almost 33 percent lower, as per reports.

CNBC-TV18 reached out to Mobikwik co-founder Bipin Preet Singh on Monday, November 22, relating this development, but Singh declined to comment, while the other co-founder Upasna Taku did not respond to calls.

In an emailed response to CNBC-TV18’s story, a spokesperson for Mobikwik said, “MobiKwik has a unique DNA – it was bootstrapped for the first 4 years and has achieved its current scale of 101 million users (as of March 2021) having spent only $100 million since inception. The company is focused on Buy Now Pay Later (BNPL) for daily life payments and has the largest number of pre-approved BNPL users in India at 22.3 million (as of March 2021). It has always adopted a sustainable growth strategy. The company is witnessing strong business growth, has a clear path to profitability and will list at the right time.”

The Morning Context (TMC) had also reported on November 15 that two investors who’d committed to investing in MobiKwik’s public issue had pulled out due to concerns about the firm’s ability to compete and grow in the crowded fintech space. The Morning Context had named Eastspring Investments and Nomura as the two key investors who had pulled out. CNBC-TV18 could not independently verify this information.

In the last round of funding, Mobikwik had raised about $20 million from Abu Dhabi Investment Authority (ADIA) in June of this year, commanding a valuation of about USD 750 million. The fintech was subsequently seeking a valuation of over a billion dollars in its IPO, according to people in the know. Given the current concerns, the investors- both domestic and foreign- would unlikely back this kind of a valuation, said one of the people quoted earlier.

As per people in the know, another factor that may dampen investor sentiment are the draft regulations surrounding digital lending that were released by the Reserve Bank of India last week.

RBI’s working group recommended that “to prevent loan origination by unregulated entities, REs (regulated entities) should not be allowed to extend any arrangement involving a synthetic structure, such as, the FLDG (First Loss Default Guarantee) to such entities. REs should not allow their balance sheets to be used by unregulated entities in any form to assume credit risk.”

Mobikwik’s business, as one of the top Buy Now Pay Later players in the country, relies heavily on this FLDG model and may be hurt by these rules. This in turn could impact investor demand for its public offer.

Mobikwik is one of the largest mobile wallets (MobiKwik Wallet) and Buy Now Pay Later (BNPL) players in India based on mobile wallet GMV and BNPL GMV, respectively, in Fiscal 2021, its DRHP said. In March, reports suggest that data of nearly 110 million users of MobiKwik was leaked on the dark web for sale by hackers. The dataset included details of KYC documents, Aadhaar cards, credit card details, mobile phone numbers linked to MobiKwik wallet, etc. The company, however, had denied any leak subsequently. Subsequent reports in October also suggested that this alleged data breach of 3.5 million users at MobiKwik is currently under RBI’s scanner.

As per its DRHP, the fintech posted losses of Rs 111.3 crore as of FY21, Rs 99 crore as of FY20 and Rs 147.9 crore as of FY19.

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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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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Illuminate Opportunity

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

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Summary

The data spectrum When the sun shines, we see the world in a wide spectrum of colors. But the sun radiates more than just visible light. It also emits “hidden” electromagnetic waves that contain energy with the potential to transform our world. Microwaves warm our food. X-rays reveal bones and organs. Radio waves deliver sound. …

The data spectrum

When the sun shines, we see the world in a wide spectrum of colors. But the sun radiates more than just visible light. It also emits “hidden” electromagnetic waves that contain energy with the potential to transform our world. Microwaves warm our food. X-rays reveal bones and organs. Radio waves deliver sound. Ultraviolet light kills germs in our drinking water.
Like energy from the sun, data pours into your organization, but only a small portion of it guides decisions. Most organizations use structured data in traditional databases to track sales and inventory, manage supply chains and maintain information about customers, products, financials and so on. But many stop there. Meanwhile, as the volume of data increases dramatically, so does the spectrum of useful data. In addition to structured data, many organizations capture unstructured and semistructured data — videos and correspondence, for example

— from edge devices in locations such as stores, factories, banks, hospitals and highways. Unfortunately, much of this data remains invisible and unused.
Widening the spectrum of data you can see and use enables you to tap its hidden potential, so your data can do more for you, and you can do more with your data.

Realize the possibilities

The expanded data spectrum brings us to the cusp of a monumental data era in which many decisions will be made by intelligent machines trained with data. Those decisions will only be as good as the data that goes into them.
While most organizations agree that data is of growing importance, they also acknowledge that they need to get better at managing their data. According to ESG, 58% of customers in a recent survey use data to validate all or most
of their business decisions, but 80% admitted that they don’t fully trust their data and data analytics capabilities. ESG also found that a full 89% of organizations view data management and analytics as one of their top 10 priorities across business and IT, stating, “Decisioning and trust are closely related.”1 Dell Technologies sees the 2020s as a fully data-driven and
analytics-enabled decade, dubbed the “data decade.” This new era is full of bright possibilities — for those who can see them. Organizations that use the rich spectrum of data effectively can enhance the customer experience to attract and retain loyal customers. For example, financial services
institutions can identify and fight fraud in real time. Product development teams can deliver what customers want more quickly, and with greater precision. Healthcare providers can improve patient outcomes with more personalized medicine. Organizations can streamline their supply chains, removing extra costs and friction. The applications are nearly endless. Competitive advantage over the next 10 years depends on how much of the right data you leverage, and how rapidly and accurately you use it to illuminate opportunities. Successfully navigating the data decade — with the right tools and processes in place to discover, curate and activate data —
will enable you to reimagine customer experiences, products, business models, industries and the world.

Discover – Locate and refine data across your data estate

The first step toward a data-driven future is to locate and refine data across your data estate. Unfortunately, many organizations falter on this first step. Most current data strategies are optimized for a world in which structured
data is captured, aggregated into databases and data lakes, processed in batches, and stored to meet business continuity and compliance requirements. But this neat and orderly approach doesn’t reflect the new reality of data. Data is growing exponentially and is increasingly decentralized.
As the data estate expands, many organizations struggle to locate data that’s pouring into the enterprise from hybrid clouds on-premises, off-premises and in edge environments, often swept into multiple systems or not captured at all.
In addition, data that doesn’t fit neatly into rows and columns, such as interactions via chatbots and voice assistants, may be captured but not used simply because nobody’s looking for it. Once data is found, users need reassurance that the data is both trustworthy and transparent before it is used to define decision frameworks and automate actions with
far-reaching consequences. For example, teams of highly skilled data architects, engineers, scientists and translators are tasked with building
data pipelines and analytics models to help business users extract value. These specialists are in high demand and command high salaries. However, most report that, when trying to source data, they run into challenges that consume up to 70% of their time by some estimates.
These challenges include data transparency issues, such as not knowing what data is available or not having a clear process for accessing the data. They also include trust issues, such as knowing where data came from or whether it’s been modified or corrupted. Inconsistencies and duplications
in data sets mean that teams must spend additional time refining the data to make it usable before they start building their AI models. In this environment, real data-driven innovation can be costly, difficult and time-consuming. Data science is still often seen as a rarefied activity that must be reserved for high-profile projects with big budgets and company-changing impact. This perspective severely limits the potential for rapid iterations and incremental improvements on multiple projects that can fuel the data-driven enterprise.
Making data accessible and usable is the first step toward enabling insight-led innovation. For this reason, Dell Technologies provides capabilities and expertise that help you identify and classify data sources across your data estate. Following are a few examples.

Uncover and consolidate data

Dell EMC DataIQ empowers you to identify, classify and move unstructured file and object data between heterogeneous storage systems and clouds. By providing rapid search functionality and a unified file system view of
Dell EMC PowerScale, Dell EMC ECS, and third-party and cloud storage, DataIQ enables you to visualize all unstructured data through a single pane of glass, effectively breaking down silos of trapped data while providing selfservice capabilities to move data on demand. For structured data types, Boomi Data Catalog and Preparation unifies operational data to extend data readiness across your organization. Fueled by automation and AI, self-service data discovery tools empower you to make the best possible decisions faster. Governance features improve security, compliance and operational efficiency, making everyone’s work easier and more productive.
Break down data silos Boomi Integrate brings together on-premises and cloud
applications with various data sources and devices, creating a fabric of connectivity to unlock productivity. A drag-anddrop user interface, data mapping tools and a comprehensive library of connectors — combined with support for various integration patterns — enable you to build any integration
with exceptional speed. Operational intelligence, reusable business logic, and data flow recommendations simplify your integration process and error resolution. Templates, process libraries and custom scripting balance your productivity and control, helping your organization succeed with any
connected business use case.

Curate – Store, protect, prepare and govern data wherever it exists

Once you’ve located and refined relevant data from across the enterprise, you need to store, protect, prepare and govern that data wherever it exists — across hybrid clouds on-premises, off-premises and in edge environments.
Doing so effectively and efficiently is particularly difficult for organizations that haven’t upgraded to a modern data center architecture. Legacy infrastructure is often heterogeneous and inflexible, hindering efficient scale as data sets and user demands grow. While IT organizations spend precious time keeping the lights on, data scientists and analysts may wait months for
IT to provision resources for innovation — even for highprofile projects. Data protection, governance, sovereignty and compliance are also complicated by multiple silos of disconnected and heterogeneous infrastructure.
By contrast, a modern, flexible IT foundation can help place the right data in the right place at the right time for the right people. This IT foundation should:

• Continually evolve, responding easily to changes in capabilities, technologies, business demands and data interactions
• Create a shared data platform, providing a single source of
truth that multiple users and applications can access
• Enable fast ad hoc reporting, advanced data analytics and
data-driven applications
• Leverage best-in-class tools and software to make data available to multiple users and applications with sub-second response times

By creating an automated and integrated environment capable of delivering self-service resources to users, IT becomes a partner in innovation and a catalyst for success. Dell Technologies provides the flexible consumption models, infrastructure and software you need to store, protect, prepare and govern your data throughout its lifecycle. We help you enable a cloud-like operating model that spans the entire data estate, so users can leverage the right data faster

Select your consumption model

Innovative consumption models can help free up your time and resources to seize new opportunities. Dell Technologies offers an expanding lineup of consumption-based and as-a-service solutions designed to give you more choice, flexibility and predictability in how you consume and manage
technology, helping you cut costs, boost agility and reduce unplanned downtime. Scale as needed Set yourself up to scale, with Dell Technologies Cloud with VMware®. It simplifies operations across public, private and hybrid clouds, so that you can achieve greater flexibility, control and consistency to meet the needs of your organization.

As your applications and data flows become more complex, performance and throughput combined with management simplicity are essential.
• Dell EMC PowerEdge servers provide maximum performance for a diverse set of workloads with a cloud operating model that spans on-premises, off-premises and the edge.
• Dell EMC PowerSwitch is the fabric that supports the volume, speed and distance demands of those complex data flows.
• Dell EMC PowerMax and PowerStore deliver the storage scalability, intelligence, and cloud integration you need to unlock the value of your data and accelerate critical workloads across multiple clouds.
• Dell EMC PowerScale helps you manage the growth of unstructured data with flexible storage that efficiently consolidates a wide range of file and object storage workloads at any scale.
• Dell EMC Streaming Data Platform ingests all data, regardless of source or type, into one engine and transforms it into unified streams for easy implementation, management, security, scalability and application
development.
• Dell EMC VxRail hyper-converged infrastructure is hybrid cloud–enabled, scale-out and software-defined to help you run complex workloads with ease and agility, scale as needed and operate more efficiently.
• Dell Technologies Cloud Storage for Multi-cloud gives you the benefits of enterprise-grade data security, performance, capacity, replication and availability in the public clouds of your choice. It also enables you to switch
between environments based on your data resilience and control requirements. Protect and govern data wherever it resides Dell EMC PowerProtect Data Manager delivers softwaredefined data protection and governance capabilities across your evolving physical, virtual and cloud environments. It enables faster IT transformation, while giving you the ability to easily safeguard and quickly unlock your data’s value. Boomi Integrate supports application integration processes between cloud platforms, software-as-a-service (SaaS) applications and on-premises systems. It gives your team online access to a powerful range of integration and data
management capabilities.

Activate – Realize data-driven insights to drive better outcomes

Once data is easily discoverable and prepared for consumption across a secure, integrated and easy-to-manage data estate, you can activate your data to enable insights and automated responses in real time. Fueling better decisions every day and for every process — across marketing, finance,
operations, sales, supply chain, services, human resources and more — is a transformational opportunity. However, it comes with its own set of challenges. For example, your marketing team might want to use
analytics and AI to optimize customer engagement, an outcome that includes maximizing market reach, improving targeting, personalizing touch points and so on. Achieving this goal requires building a series of interrelated algorithms
and activating them in processes and applications. Extending this type of transformation across the organization can strain even the most advanced data-driven teams — and their IT colleagues. To unleash data-driven opportunities across the enterprise, data scientists and data analytics teams need the freedom to explore new use cases and extend existing ones without
concern for the underlying IT infrastructure. Providing these expert teams with a starting point that’s ready to “just add data” lays the foundation for sharing knowledge and reusing models to spark illumination faster and more efficiently across the entire organization. Unfortunately many organizations lack the internal skills and resources to design, deploy and manage these types of solutions. Dell Technologies can help accelerate your digital transformation, with modern software and analytics solutions at any scale — from workstation to supercomputer — so teams can focus on creating measurable value. Streamline AI and data analytics adoption
Organizations can save time and effort with solutions that are architected, tested and validated for AI, data analytics and High Performance Computing (HPC). Dell EMC Ready Solutions for AI, Data Analytics and HPC bring together powerful and scalable compute, networking and storage to help you simplify the complex, act on more opportunities, and achieve success at any scale. These solutions accelerate innovation across private and public clouds and at the edge. Conceived, designed and engineered with Dell Technologies’ groundbreaking technology partners, these solutions pave the way for rapid deployment, agility and exceptional value.

Accelerate cloud-native application development for AI and analytics

Augment internal app development resources with VMware Tanzu, a family of products and services for building, running and managing modern apps on any cloud — and continuously delivering value. The portfolio simplifies hybrid cloud operations while freeing developers to move faster with easy access to the right resources. And if you need someone to work side-by-side with you on agile capabilities and processes, VMware Pivotal Labs teams are ready to assist. They can help you accelerate the delivery of software and
modernize legacy apps while reducing operating costs and risk.
Power I/O- and compute-intensive workloads at the right scale and in the right place From proof of concept to production at massive scale for AI,
analytics and HPC workloads, the Dell Technologies portfolio provides the performance and capacity you need to activate data. AI technologies powered by Dell Precision workstations accelerate data-driven innovation in configurations that put advanced technology in the reach of every organization. For larger-scale projects that require servers that are optimized
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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

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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

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Euro-Rupee 89.0980 0.0100 0.01
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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?