England vs Sri Lanka T20 World Cup Super 12 match preview: Betting odds, fantasy picks and where to watch live

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

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England and Sri Lanka will lock horns in the final match of Group 1 of the Super 12 stage of the ICC T20 World Cup 2022 at the Sydney Cricket Ground on Saturday.

With New Zealand qualifying for the semi-finals on Friday and Australia beating Afghanistan, one of either Australia or England would be the second team to qualify for the semis from Group 1.

England are third in Group 1 with 5 points from 4 matches with a net run rate of +0.547. Australia are second with 7 points from their 5 group matches but suffer from a poor net run rate of -0173.

The equation is simple. If England beat Sri Lanka they would go through to semifinals. But if Sri Lanka upstage England, they would do Australia a massive favour by sending the defending champions into the next stage of the tournament.

England will be high on confidnece after beating New Zealand. Sri Lanka too won their previous match as they beat Afghanistan.

Jos Buttler would be happy that he was finally able to contribute with the bat as he hit a fifty against New Zealand. Buttler’s effort was backed by fellow opener Alex Hales who also smashed a half-century. There were questions around England’s top-order before the New Zealand match, but those were answered by Buttler and Hales.

After the high of the Asia Cup, the T20 World Cup did not turn out to be a happy outing for Sri Lanka but Dasun Shanaka’s men have the chance to end their World Cup campaign on a high. The top order of Pathum Nissanka, Kusal Mendis and Dhananjaya de Silva has been amongst runs. The spin duo of Wanindu Hasaranga and Maheesh Theekshana continues to deliver the goods for the team. If there is one area where Sri Lanka underperformed in this World Cup was fast bowling. The team’s frontline fast bowlers fell by way side through the tournament picking up injuries. Shanak would hope that the second-choice pacers leave their mark before the end of the campaign.

Form Guide (last five matches)

England: W-L-W-NR-NR

Sri Lanka: W-L-L-W-W

England vs Sri Lanka Head-to-head in T20Is

Matches played: 13

England wins: 9

Sri Lanka: 4

Pitch

The Sydney pitch has helped fast bowlers in this World Cup. All the matches of this World Cup played at the SCG have been won by the team batting first. The average first innings score at the SCG for this World Cup has been 187.20

Weather conditions

According to Accuweather, the evening will be clear. The chance of rain falling during the match is minimal. The evening temperature will be 16°C.

Probable XIs

England’s possible XI

Jos Buttler (c and wk), Alex Hales, Dawid Malan, Harry Brook, Ben Stokes, Liam Livingstone, Moeen Ali, Sam Curran, Chris Woakes, Adil Rashid, Mark Wood

Sri Lanka’s possible XI

Pathum Nissanka, Kusal Mendis (wk), Dhananjaya de Silva, Charith Asalanka, Bhanuka Rajapaksa, Dasun Shanaka (wk), Wanindu Hasaranga, Maheesh Theekshana, Pramod Madhushan, Lahiru Kumara, Kasun Rajitha

Top fantasy pick suggestions

Batsmen: Dawid Malan, Harry Brook Pathum Nissanka, Kusal Mendis

Wicketkeeper: Jos Buttler

All-rounders: Ben Stokes, Sam Curran, Moeen Ali

Bowlers: Wanindu Hasaranga, Maheesh Theekshana, Mark Wood

Betting odds (bet365)

England: 1/5

Sri Lanka: 7/2

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$4.7 billion PayU deal termination a setback for Indian fintech industry, says BillDesk Co-Founder

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

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A “setback” for India’s fintech industry, that’s the first word from BillDesk’s co-founder on the aborted $4.7 billion deal with PayU, which would have been one of the largest fintech deals in the country.

Speaking to CNBC-TV18‘s Ritu Singh, Billdesk’s co-founder Srinivasu M N says the deal’s termination was a “disappointment”, adding that this will create a trust deficit on how Indian companies view foreign investors.

“It has been a disappointment for the industry and it has also been a setback from a fintech industry perspective of what would have been a large deal and the manner in which it was, perhaps called off. So we will just have to wait for time to see how this evolves,” Srinivasu said,

Talking about the implication, he said that India did its job into the regulatory clearances to asking the right questions. “So I think the implication is more from how do Indian companies look at foreign investors sticking to their word,” he added.

Watch video for more.

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

European Securities Markets Authority disqualifies 6 Indian Clearing Companies

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

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The European Union Securities Markets Authority has disqualified six Indian clearing companies over failures to meet certain compliance provisions as per the European Market Infrastructure Regulation (EMIR).

Clearing houses that have been disqualified include, the Clearing Corporation of India (CCIL), the Indian Clearing Corporation Ltd. (ICCL), the NSE Clearing Ltd. (NSCCL), the Multi Commodity Exchange Clearing (MCXCCL), the India International Clearing Corporation Ltd. (IICC) and the NSE IFSC Clearing Corporation Ltd. (NICCL).

The disqualification will begin from April 30, 2023.

The reason behind the disqualification is that no cooperation agreement has been reached between the European regulator and Indian regulators like the Reserve Bank of India, the Securities and Exchange Board of India and the International Financial Services Centers Authority (IFSCA).

According to the rules, the European regulator (ESMA) should be able to supervise qualifying clearing companies. It is necessary for ESMA to have a cooperating agreement with the local Indian regulator who supervises these companies.

The clearing houses are responsible for most of the majority of the volume of trades on foreign exchange, derivatives, government bonds and securities which are cleared through these clearing houses.

After the 2008 financial crisis, the ESMA framed rules which required the market regulator to establish agreements between third-country institutions in order to keep a high level of oversight over financial products, markets and more.

The impact of this will be felt more by banks within the European Union’s jurisdiction as they will not be able to enlist the services of these clearing corporations. The banks will not be able to take advantage of the CCIL netting. In that case, the banks will have to do more bilateral deals with individual banks and therefore keep more capital for the same.

Former RBI Deputy Governor, R Gandhi, who is currently the non-executive chairman of the Clearing Corporation of India told CNBC-TV18 that the conversations may continue until April 30 and that the disqualification could be withdrawn before the said date.

CNBC-TV18 is awaiting replies from both the Reserve Bank of India, as well as SEBI on the matter.

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Marico Q2 profit slides 2.8% to Rs 307 crore as inflation bites

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

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Homegrown FMCG major Marico on Friday, November 4, reported a 2.8 percent year-on-year (YoY) drop in net profit at Rs 307 crore for the second quarter that ended September 30, 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 316 crore. CNBC-TV18 Polls had predicted a profit of Rs 319 crore for the quarter under review.

The revenue from operations stood at Rs 2,496 crore during the period under review, up 3.2 percent against Rs 2,419 crore in the corresponding period of the preceding fiscal, with underlying volume growth of 3 percent in the domestic business and constant currency growth of 11 percent in the international business.

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At the operating level, EBITDA jumped 2.4 percent to Rs 433 crore in the second quarter of this fiscal over Rs 423 crore in the corresponding period in the previous fiscal. The EBITDA margin stood at 17.4 percent in the reporting quarter compared to 17.5 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation and amortisation.

After a tepid Q1, the company recovered to post reasonable growth in domestic volumes on the back of healthier traction among urban and premium discretionary portfolios. On a three-year CAGR basis, quarterly domestic volume growth stood at a healthy 7 percent.

Domestic revenues stood at Rs 1,896 crore, up 1 percent YoY, as price hikes in hair oils and premium personal care portfolios were more than offset by price cuts in Parachute coconut oil and Saffola oils.

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The FMCG player that owns iconic brands like Parachute and Saffola, said in India, as retail inflation held firm, the FMCG sector witnessed a volume decline for the fourth quarter in a row, with growth led by pricing.

“Demand sentiment was largely on similar lines as the preceding quarter and improved slightly only in the last month of the quarter owing to the upcoming festive season.”

Gross margin expanded 115 bps YoY, but was lower sequentially due to the consumption of higher-cost inventories of raw materials and the adverse cost impact of depreciating currencies in select international markets, it said.

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The results came after the close of the market hours. Shares of Marico ended at Rs 535.35, down by Rs 4, or 0.74 percent on the BSE.

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As Messi becomes BJYU’s new global brand ambassador, social media calls out ‘hypocrisy’

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

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Days after making headlines for laying off 2,500 employees and announcing an intent to shut down the Kerala centre, BYJU’s is now in the news for roping in football star Lionel Messi as the first global brand ambassador of its social impact arm Education For All.

However, many have taken to social media platforms to red-flag the edtech giant’s “hypocrisy.” Take this for example — a Twitter user said the move says a lot about the company’s priorities and ethics. “Fire thousands of employees to hire one superstar!” the person commented.

Another user mocked the firm saying, “Makes sense! #Byju’s plays football with the life and livelihood of their employees!”

One user also said that the real reason BYJU’s is firing its employees is that it needs Shah Rukh Khan and the bills for the FIFA World Cup and BCCI sponsorships.

Another questioned the celebrity’s association saying, “Does @WeAreMessi know about #Byju’s malpractices?
Why do these celebrities risk their reputation by associating themselves with risky brands like #Byju’s?”

Another user said, “New strategy in town… LoL Fire employees in bulk and then invest resources in global advertising.”

The move also sparked a meme fest on Twitter.

#byju #BYJUSTurmoil #LionelMessi #Messi𓃵 #byjus pic.twitter.com/G43D2bcqqz

— Kana Sir🕉️🪷 (@Kanatunga) November 4, 2022

Messi became global brand ambassador of #byjus
Le Messi : pic.twitter.com/eM29VlLWLj

— Madhav 🇮🇳 (@Madhav02898552) November 4, 2022

One quipped a pun, “If you were getting international superstars as a brand ambassador while slashing 25% of your workforce, I’d call it Messi”

The Backstory

The backlash against the edtech comes as it last month announced that to avoid redundancies and duplication of roles, and by leveraging technology better, around five percent of BYJU’S 50,000-strong workforce was expected to be rationalised across product, content, media, and technology teams in a phased manner. It said that this among other moves is expected to result in sizable savings with no impact on growth.

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“At a group level, BYJU’S top priority is to achieve overall profitability by March 2023. These steps are also meant to prepare the path towards a stellar listing eventually as the world’s largest EdTech company that has turned profitable, eventually,” it added in a statement.

Last week, Byju’s had also announced the closure of its Kerala centre and lay off around 140 employees. It, however, rolled back both decisions on Thursday following a meeting with state Chief Minister Pinarayi Vijayan.

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Lupin receives tentative approval from USFDA for birth control pill

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

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[wealthdesk shortname=”Lupin” isinid=”INE326A01037″ bseid=”500257″ nseid=”LUPIN” sector=”Pharmaceuticals” exchange=”nse”]

Pharma major Lupin Ltd. announced that it received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Drospirenone Tablet.

The Drospirenone 4mg tablets are a generic market equivalent of Slynd Tablets, which are produced by Exeltis USA Inc.

The Slynd tablets have an estimated annual turnover of $141 million in the United States, according to the IQVIA annual data ending September 2022.

The tablets contain two types of hormones and is used in the prevention of pregnancy.

Lupin develops and distributes a wide range of generic and branded formulations, biotechnology products, and active pharmaceutical ingredients (APIs) in over 100 markets. It is the third-largest pharmaceutical company in the US by prescriptions.

CNBC-TV18 recently accessed details to the warning letter issued by the USFDA for the company’s Tarapur plant. The warning letter includes manufacturing errors, failure to establish proper written procedures for cleaning equipment and other various lapses on part of the company.

The Tarapur plant produces API ingredients and had received the warning latter in September.

The manufacturing facility was inspected by the USFDA from March 22 to April 4, 2022.

Shares of Lupin ended 0.3 percent lower at Rs 709.80.

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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

Titan’s second quarter sparkles as net profit rises 34% on strong jewellery demand

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

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Titan Company on Friday reported a 34 percent year-on-year (YoY) rise in net profit for the September quarter to Rs 857 crore, beating a CNBC-TV18 estimate of Rs 729 crore as demand for gold improved ahead of the festival and wedding seasons.  Total revenue from operations increased 22 percent on year to Rs 8,730 crore.

During the quarter, India’s demand for gold rose 14 percent to 191.7 tonnes from a year ago, the World Gold Council said in a report published on Tuesday. Demand for jewellery was muted in the year-ago quarter after the second COVID subsided in the country.

The jewellery business, excluding bullion, saw an 18 percent YoY growth in revenue to Rs 7,203 crore. Watches and wearables business revenue increased 21 percent on year to Rs 829 crore. The eye care business reported a 4 percent growth in revenue to Rs 167 crore.

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CK Venkataraman, Managing Director of Titan said that despite an uncertain macro environment, the current festive season, starting from the end of September and continuing till the end of October has been quite positive and consumer confidence remains upbeat.

“We have clocked a retail growth of 17-19 percent in larger business divisions of the Company – Jewellery, Watches & Wearables and EyeCare over similar festive season timeline of the previous year. We remain relentlessly focussed in executing our growth plans in India and overseas and are optimistic about our performance in the remaining quarters of the current financial year,” said Venkataraman.

Shares of the Tata-owned company ended 0.23 percent higher at Rs 2,770 on the BSE.

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Thomas Cook, SOTC Travel introduce special range of ‘Enchanting India Holidays’

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

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[wealthdesk shortname=”Thomas Cook” isinid=”INE332A01027″ bseid=”500413″ nseid=”THOMASCOOK” sector=”Miscellaneous” exchange=”nse”]

Thomas Cook India Ltd., a leading omnichannel travel services company, and its group firm, SOTC Travel, have introduced a special range of ‘Enchanting India Holidays’ to showcase India’s diversity.

Under this new range, Thomas Cook and SOTC have jointly curated itineraries that offer a diversity of iconic global experiences in India that are on par with or surpass their international counterparts.

The Enchanting India Holidays portfolio presents customers with a wide range of exciting options, customisable as per their preference.

The itineraries include the snow-capped peaks of Gulmarg and the picturesque landscapes of Khajjiar that offer fascinating appeal akin to the Swiss Alps and Andaman’s pristine beaches – blue waters that compare with Phuket.

The tourist destinations also include Chattisgarh’s Chitrakoot Falls – often referred to as India’s Niagara Falls, Kashmir’s 30 acres of tulip gardens, the lush and languid backwaters of Kerala and Andhra Pradesh’s Gandikota Hills.

The companies’ customised product range also offers India’s hidden gems including surreal landscapes of Kashmir’s Gurez and Doodhpathri valleys, Chenab Bridge – the world’s highest rail bridge or Dal Lake’s floating post office; Arunachal Pradesh’s Damro – the longest hanging bridge, Ziro Valley and majestic monasteries of Tawang; and Maharashtra’s Lonar Lake – a meteoric marvel and Meghalaya’s awe-inspiring living root bridges, among others.

Thomas Cook shares ended 0.7 percent lower at Rs 74.30 on Friday.

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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

Wockhardt turns red with Rs 207 crore loss in September quarter

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

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Pharmaceutical and biotechnology firm Wockhardt Ltd on Friday reported a consolidated loss after tax of Rs 207 crore in the second quarter ended September 30, 2022, impacted by restructuring of its US business.

The company had posted a consolidated profit after tax of Rs 37 crore in the same quarter last fiscal, Wockhardt Ltd said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 679 crore as against Rs 862 crore in the year-ago period, it added.

Total expenses were lower at Rs 771 crore as compared to Rs 895 crore in the same quarter a year ago.

In view of the changed pharmaceutical market situation in the US, the group has initiated various measures, including restructuring its business model in the US by closing down its manufacturing facility in Illinois during the current quarter, the filing said.

“Accordingly, the group has provided for Rs 123 crore with respect to its property, plant equipment, Rs 16 crore for inventory and other expenses of Rs 6 crore pursuant to this restructuring and has disclosed it as ‘exceptional items’,” it said.

The company further said it is undertaking its business in the US through contract manufacturing the products sold by it in US and North America by engaging USFDA approved manufacturing partners meeting quality standards acceptable to the group.

Revenue from the US business during the second quarter stood at Rs 89 crore as compared to Rs 61 crore in the year-ago period. It contributed 13 percent of the global revenue. The US business was impacted by price erosion and supply disruptions, Wockhardt said.

On the other hand, the UK business revenue was at Rs 226 crore, down from Rs 387 crore in the same quarter last fiscal. India business stood at Rs 150 crore, lower from Rs 187 crore in Q2 FY22, the company said.

Emerging markets at Rs 117 crore contributed 17 per cent of the company’s global revenue in the second quarter, it added. .

The company’s shares ended 1 percent lower at Rs 239 apiece on the BSE.

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