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London Eye: Disturbed Indians struggling for support

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

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Summary

A study conducted among 2,300 Indians over peak periods of the pandemic in 2020 found that three-quarters of British Indians have faced barriers when attempting to access mental health care.

A new study finds higher than average mental illness among Indians settled in Britain with yet higher difficulty in accessing mental health services. The report challenges continuing myths that Indians living in Britain are somehow a happier lot, and that settling in Britain is a state to aspire to.

A study organised by The 1928 Institute, an Oxford-based think tank, finds that as many as one in four people in Britain have sought support from a mental health professional in the face of a rising cost of living and the impact of the pandemic. Among them Indians find it disproportionately difficult to seek help.

“The research shows that 93 percent of British Indians feel the clinical approach to mental health by the National Health Service (NHS) is alienating,” Oxford researcher Kiran Kaur Manku who led the study tells CNBC TV-18. “They explained this as not feeling comfortable to express their health needs or knowing that they won’t be understood.”

The study conducted among 2,300 Indians over peak periods of the pandemic in 2020 found that three-quarters of British Indians have faced barriers when attempting to access mental health care. Many among them spoke of “inappropriate treatment for their culture” as one of the main blockades.

Also Read: How employers can expand mental health benefits to employees

Many respondents cited the associated stigma of accessing support as the biggest barrier; in the belief that it will be perceived negatively by the wider community. Other concerns arose over quality of care, with the highest such concerns reported in Scotland. An inability to see a culturally relevant professional was highlighted by a tenth of all respondents.

The report is now under review by the NHS Birmingham & Solihull Mental Health Trust Patient and Carers Race Equality Framework (PCREF).

“Whilst many of these barriers can be addressed at the community level, there is a clear call from British Indians that more needs to be done to remove the negative connotations of access to services,” the report says. “Almost all respondents (93 percent) highlighted the urgent need for safe spaces to discuss mental health awareness in a culturally sensitive manner; while 16 percent would feel more comfortable in exploring services if the quality of care was tailored toward culture and beliefs.”

Also Read: View | Emotional health: A priority in 2022

Indians have faced discrimination from the first call of help, usually to their GP. The report found that “86 percent faced discrimination from their GP, or other professional, while 81 percent experienced shame and stigma.” In addition, 92 percent reported that GP appointments are too short to successfully diagnose the need for mental health support, with as many perceiving that services are only available to those who can clearly articulate the need.

Concerningly, the study found that 60 percent reported that healthcare professionals assumed that a ‘family support network’ would be available to meet a British Indian’s needs.

When asked about the quality of care, respondents overwhelming outlined negative experiences, and called for a willingness from the professional to learn about their patient’s culture, key moments in history, or cultural nuance. In addition, 48 percent would like to see more therapists learning from their peers; and 97 percent want to see a well-rounded treatment plan, which included traditional practices to aid wellbeing.

Gender

Men seem to face a higher level of difficulties in accessing mental health services. “Men in our community are struggling with mental health and called for a proactive approach from the NHS to encourage them to seek support,” Manku tells CNBC-TV18. “Almost all men highlighted the issue of suicide in relation to either themselves, a family member, or a close friend. There is a clear need to provide support and encourage healthy coping mechanisms.”

The exceptional difficulties run across both first generation migrants and those who grew up in Britain, though these are usually of different kinds across overlapping concerns.

“First generation migrants expressed more concerns with language as a barrier, finding online self-referrals inaccessible, and not knowing the different access routes,” Manku says. “British Indians who have grown up in the UK explained the service was poor and did not feel relevant for them.”

Also Read: Mental health issues among startup founders and the ‘unicorn’ pressure

In one instance, she says a therapist offered advice “that would worsen mental health due to a lack of cultural understanding, another respondent explained a bereavement counsellor had no awareness about our death rites, whilst many respondents gave examples of therapists with no awareness of traumatising geopolitical events which were related to their mental health.” But it is clear, she says, that “all generations faced high levels of discrimination and shame when accessing or receiving treatment.”

This year could prove particularly difficult in new ways, says Manku, who works with the Global Initiative in Neuropsychiatric Ethics at the University of Oxford. “With the upcoming 75th anniversary of Partition and 50th anniversary of the expulsion of Indians from east Africa, this year is expected to be challenging for many. As those memories reignite, many will be reliving traumatic events or reflecting on the impact of an uncontrollable force of social injustice – it is critical that these issues are understood and addressed in a timely manner reflecting on the impact.”

— London Eye is a weekly column by CNBC-TV18’s Sanjay Suri, which gives a peek at business-as-unusual from London and around.

Read his other columns

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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

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index Price Change
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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COVID-19 medicines sold at GST rate of 5%: Government

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

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Summary

All COVID-19 medicines and instruments are being sold at a GST rate of 5 percent while other medicines are sold at a GST rate between 5 and 12 percent ever since the pandemic started, Union Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha.

All COVID-19 medicines and instruments are being sold at a GST rate of 5 percent while other medicines are sold at a GST rate between 5 and 12 percent ever since the pandemic started, Union Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday.

Chaudhary also said that 66 percent of government-sponsored health insurance schemes in the country are being run by the Central government.

When the COVID-19 pandemic started, a decision was taken for the sale of all medicines at the GST rate between 5 and 12 percent and the GST rate for COVID-19 related medicines and instruments has been reduced to 5 percent, he said during the Question Hour.

The minister said the GST rate for health insurance is 18 percent, which is as per international standards, and similar to what it was during pre-GST days in the country.

Also Read: Covid-19 related hospitalisation almost gone; see medical tourism picking up: Max Healthcare

He said senior citizens can avail tax rebate of up to Rs 1 lakh on health insurance policies. Chaudhary said GST rates and exemptions on all services (including GST on health insurance premium) are prescribed on recommendations of the GST Council, which is a constitutional body comprising the Union Finance Minister and ministers as nominated by respective state and union territory governments.

At present, Goods and Services Tax (GST) on health insurance services is levied at standard rate, i.e., 18 percent. Specific health insurance schemes catering to the needs of economically weaker sections of the society and the differently-abled, such as Rashtriya Swasthya Bima Yojana (RSBY), Universal Health Insurance Scheme, Jan Argoya Bima Policy and Niramaya Health Insurance Scheme are fully exempt from GST, he said.

Further, he said, healthcare services are also exempt from the GST. Representations to reduce the GST on health insurance were placed before the GST Council in its 31st meeting held on December 22, 2018 and in its 37th meeting held on September 20, 2019. The GST Council did not make recommendation for reduction of GST, he said.

Also Read: India continues to remain highest receiver of FDI: FM Sitaraman in Lok Sabha

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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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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Back to office: Companies prefer candidates willing to be physically present at workplace

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

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Summary

WFH is on the wane as of now as legacy sectors like infra, manufacturing and pharma are asking new recruits to physically report to work. Even tech companies — which are more amenable to work-from-home or hybrid models — are now leaning towards WFO. 

Companies are increasingly asking recruiting firms to bring candidates who are willing to work from office instead of those looking for hybrid or work-from-home (WFH) models of work. Companies have once again shifted their focus to working from office over concerns like attrition and teamwork.

“Teamwork cannot happen remotely. This robotic work culture had to be adopted during the pandemic, but now physical attendance is needed,” said Rituparna Chakraborty, Co-Founder of staffing firm TeamLease Services, told Mint.

Also read: Why employers are averse to allowing ‘work from anywhere’

Companies are also beginning to call their employees back to offices as the pandemic once again recedes in India. But for thousands of employees who moved away from offices back to home towns, to save on both rent and to be closer to their families, this is creating friction.

Around 80 percent of employees still prefer working from home, according to the recent Tech Talent Outlook report by Scikey.

High rents in office hubs, long commute hours, pollution, being away from family are some of the factors that make WFH an attractive model. But the fact that companies are not offering any incentives or changing salary structures to bring employees back to the office does not make their case any better.

Also read: Google tells employees to return to offices in US from April 4

While companies, especially in legacy sectors like infrastructure, manufacturing and pharma, are asking new recruits to join their offices, tech companies seem to be leading the way when it comes to understanding the changing dynamics of the workplace, as they remain the most comfortable with hybrid and WFH solutions.

But even in the tech-savvy startup arena, medium to senior management employees are being called to the office. Companies are letting candidates know that even if they are currently instituting a WFH or hybrid model, offices are set to open soon and candidates will be required to come to the office as well. 

Also read: TCS, Infosys, Wipro keen on employees returning to office from next month. Know details

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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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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Network18 joins hands with Truecaller to spread awareness about women harassment through #ItsNotOK campaign

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

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Summary

As per a Truecaller Survey, 1 in every 3 women receives sexually inappropriate calls or messages and 8 out of 10 women receive harassment & nuisance calls in India.

India’s biggest news network, Network18 has partnered with Truecaller to launch #ItsNotOk campaign, to raise awareness about why it’s important for women to ‘Call It Out’ on harassment issues, leading conversations on how society can enable a safer digital environment for them

The campaign #ItsNotOK will be launched on International Women’s Day, 8th March 2022 and will bring together the society’s key social stakeholders to encourage women to drive change and call action against harassment.

A survey conducted by Truecaller suggests that 1 in every 3 women receives sexually inappropriate calls or messages and 8 out of 10 women receive harassment & nuisance calls in India. While most women block these callers or phone numbers on Truecaller, very few report their harassers to authorities and the rest suffer in silence.

The campaign, #ItsNotOk believes that policymakers, social support systems, and media platforms have a collective responsibility to stop women’s harassment in our country. The key focus of the campaign will be on what women can do in an individual capacity and what our society can do collectively to curtail the harassment of women.

The initiative will be bringing together all stakeholders including State Police, NGOs, Counselors, Legal help and Government representatives to talk about how, we as a society, can work together for a safer environment, where women feel empowered.

The campaign will see Dr Munjpara Mahendrabhai Kalubhai, Minister of State for Women and Child Development deliver the keynote session. On the other hand, National Commission for Women (NCW) Chairperson, Rekha Sharma, and Truecaller Co-founder, Nami Zarringhalam, will be part of the Network18’s streamathon on Facebook and Twitter, where they will share their views on how can women stop the harassment.

The campaign will also see engagement from multiple influencers from various fields, including the likes of Jwala Gutta, PV Sindhu, Aditi Rao Hydari and Neeti Palta. While Jwala Gutta will be part of streamathon, tweetathon & Twitter spaces activity on 8th March. PV Sindhu and Aditi Rao Hydari will also be a part of an Insta live session, while Neeti Palta will be part of tweetathon & engaging on Twitter Spaces. Twitter Spaces will be hosted on News18 India, CNN-News18 & News18 Gujarati handles.

Others including Social Activist Ranjana Kumar, Special Commissioner Shalini Singh, DCP KPS Malhotra, Psychiatrist Dr Anjali Chhabria, Yogita Bhayana of PARI Foundation, Lawyer Aaliya Waziri, Vineet Kumar of Cyber Peace Foundation, UN Women Representative for India Susan Ferguson will also join the discussion to talk about the various aspects of women harassment including trauma, counselling, legal recourses, and police initiatives.

Smriti Mehra, CEO, Business News Cluster, Network18 said: “Through this campaign Network18 and Truecaller aim to push for providing a safer digital environment for women. We believe that it is crucial for policymakers, social support systems and media platforms to increase awareness around all aspects of women safety.”

Rishit Jhunjhunwala, Chief Product Officer & Managing Director at Truecaller India said: “This International Women’s Day, we want to reiterate that the safety of women is critical and we all need to come together to put an end to harassment in digital communication. Every woman has the power to achieve a lot more when empowered to #callitout. The campaign #ItsNotOk was launched in 2017 with the aim to support women and ensure a safe environment. This year, with the support of Network 18, we are taking a new path and urging women to come forward to #callItOut and take action against unwanted communication.”

EVENTS LINEUP FOR 8TH MARCH

On March 8th, the Campaign will begin with a Streamathon, with a Women’s Day special, on social media platforms of Network18 including Facebook and Twitter.

The campaign will see discussions, suggestions and interaction between the influencers and panellists on Instagram Live.

Between 5 PM and 6 PM is when a Tweetathon will be organised, highlighting targeted harassment that women face in the online space as well as in the real world. Network18 handles will initiate conversations on Twitter and tag guests. While responding, guests will be asked to tag inspirational women who in their eyes have taken a stand against harassment and said #ItsNotOk.

A 30-minute Twitter Space will be organised with Network18’s team of national & regional anchors moderating an interactive discussion each with panellists from varied fields.

HERE’S THE LINEUP FOR TWITTER SPACES:

News18 Gujarati (7 to 7.30 PM)

● Moderator: Zarna Soni, News18 Gujarati

● Manan Shah, Director – Marketing, Truecaller India

● Rajul Desai, Member, National Commission for Women

● Aditi Raval, Brand Ambassador, Gujarat Tourism

● Usha Rada, SP, Gujarat Police

News18 India (7.30 to 8 PM)

● Moderator: Preeti Raghunandan, Anchor, News18

● Pragya, Director – Public Affairs, India

● Jwala Gutta, Sports Achiever & Influencer

● Rashmi Singh, IAS- Special Secretary cum Director Women and Child Social welfare NCT Delhi

● Pinky Anand, Senior Advocate and Former Additional Solicitor General of India

● Rahul Shrivastava, UP Police

CNN-News18 (8.30 to 9 PM)

● Moderator: Marya Shakil, Political Editor, CNN-News18

● Pragya, Director – Public Affairs, India

● Neeti Palta, Influencer

● KPS Malhotra, DCP, Delhi Police

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

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

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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FM Nirmala Sitharaman assures help to pandemic-hit travel, tourism and hospitality sectors

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

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Summary

The finance minister assured the sector that she would look at bringing ATF under GST and take concrete steps to bring the pandemic-struck aviation and hospitality sectors back on the growth path.

Finance Minister Nirmala Sitharaman along with Civil Aviation Minister Jyotiraditya Scindia discussed banking and credit-related issues with representatives from the travel, tourism and hospitality sectors on February 25.

The meeting was attended by senior officials of the Finance Ministry and heads of various public sector banks and the Indian Banks’ Association (IBA).

The primary agenda of the meeting was to discuss banking and credit lending to the three sectors. Representatives from the aviation, tourism and hospitality sectors informed the finance minister of the difficulties they have been facing since the onset of the COVID-19 pandemic.

Also read: Hotels in India doubled revenues in Oct-Dec 2021, says JLL report

The government may give infrastructure status to the aviation and hospitality sectors, which means cheaper loans for aviation companies and access to infrastructure debt funds.

Aviation ministry representatives also requested the government to bring aviation turbine fuel (ATF) under the ambit of the Goods and Services Tax (GST). The government may consider giving certain relaxations in excise duties till ATF is brought under the GST regime.

Also read: How will the travel industry pivot in 2022?

At the meeting, the Sitharaman said she would look at bringing ATF under GST. The government also assured the industry representative of taking concrete steps to bring the aviation and hospitality sectors back on the growth path.

In Budget 2022-23, Sitharaman had proposed to support the hospitality and related services sector by opening an additional Rs 50,000-crore window under the Emergency Credit Line Guarantee Scheme (ECLGS).

Saying that the hospitality and related services, especially the micro and small enterprises, were yet to regain the pre-pandemic level of business, the finance minister had extended the ECLGS up to March 2023 and expanded its guarantee cover by Rs 50,000 crore to a total of Rs 5 lakh crore. The additional amount was exclusively earmarked for the hospitality and related sectors.

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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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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Bata sees casual trend on the rise; focusses on sneakers push

Bata India witnessed significant improvement in customer sentiment and the company is expecting a good Q4FY22, better than pre-COVID levels. CNBC-TV18’s Mangalam Maloo caught up with Gunjan Shah, MD and CEO of the company to get a sense of post-pandemic demand and the long-term strategic outlook.

“Bata is a 100-year-old brand so transforming it is also a journey. The other piece is average age; we track consumers, we got a very large loyalty database of consumers and when we track them we have seen that there is almost 15-20 percent drop in the average age of the consumer and now it’s in the mid-30s and after the sneakerization campaign that we had last quarter, it has dropped even further. So it’s a journey but I see very promising signs,” said Shah.

Talking about business, he said, “The second wave (COVID-19) recovery was faster than the first wave and the third wave was shallower as well as a narrower dip. There was some impact, but the recovery is going to be faster. Therefore we will do better than pre-COVID in Q4 as well,” said Shah.

Also Read: Bata focuses on casual shoe market; expects normalcy to return faster than 2nd wave

“Last quarter we saw recovery going ahead of pre-pandemic. In fact, except for the last few weeks of Omicron in December (2021), we saw even faster recovery and I am looking forward to that going forward,” said Shah.

The company expects sneakers to contribute 30 percent to sales in FY23 and about 50 percent sales in the next few years.

For more details, watch the accompanying video

Momentumisers: Speciality Restaurants shares in focus; here’s why

Speciality Restaurants’ stock is still way off its all-time high and IPO issue price but it’s still at a near 3-year high.

Here are the possible reasons for this up move – there is gradual unlock as dine-in resumes; the company gets 71 percent of its revenues from dine-in, but more important is that the company reported extremely strong
Q3FY22 numbers with a profit of Rs 11 crore compared to the loss of Rs 3.7 crore and this is better than the pre-pandemic (COVID-19) levels.

Also Read: Swiggy in talks to acquire restaurant table booking app Dineout, says report

The revenues that it did in the third quarter is Rs 89 crore which is much better than all of the 9-months of last year at Rs 85 odd crore and despite the pandemic, the company opened 59 cloud kitchens and at the same time getting a substantial amount of their revenues from delivery etc., is all that the street is perhaps looking at.

Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.

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COVID-19 related stocks seeing correction, check details

As COVID-19 cases reduce, it seems pandemic-related stocks globally are seeing a correction. Vaccine manufacturers such as Moderna, Pfizer, BioNTech and Novavax have all corrected anywhere between 8 percent to over 20 percent just in the past one month.

The likes of Moderna have seen a steeper correction with the stock down 70 percent from its August 2021 highs.

Also Read: Govt considering resuming regular international flights by March-April

While many of the companies have issue specific to the company – for example executives of Moderna, the manufacturer of the mRNA COVID-19 vaccine, have sold shares worth around USD 3.6 million last week – analysts have pegged the broader reason for the correction due to COVID-19 cases reducing and investors hence questioning if vaccines will be a sustainable revenue going forward.

Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.

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Storyboard18: World of Play, the journey so far…

World of Play is a tech brand setup by Micromax co-founder Vikas Jain. In the thick of the pandemic, the company launched its first few set of products and now have products spanning across various categories from fitness bands to bluetooth headphones. The company is looking at tapping into the growing consumer electronic market in the country and calls itself an IoT company. Storyboard18 caught up with Vikas Jain, Chairman and MD of World of Play to find out more.

Watch the accompanying video for more.

Commodities round-up: Crude oil price near 7-year high; gold, silver back in action

The crude oil price has come off its high but still trading close to a 7-year high. This is the profit-taking that has come in crude oil after the US administration pledges to continue to try to keep the crude oil prices lower. Also, the US inventories after declining for seven straight weeks have seen a modest increase of 1.4 million barrels. So these are the two factors that have led the prices down.

Apart from that everything else is quite bullish – whether it’s the International Energy Agency (IEA) report which said that the global inventories have continued to decline and the global crude demand could be reaching pre-pandemic (COVID-19) levels in this year itself.

Also Read: Budget wishlist: GJEPC seeks cut in gold import duty to 4%, special package for sector

However, the major run-up has come at gold and silver prices and both of these commodities are at a 2-month high. There is safe haven inflation buying here and concerns that central banks are not doing enough and then the geopolitical tensions seem to be supporting gold and silver as well. So after, very sluggish, many months gold and silver seems to be back in action.

Also Read: A glance at digital gold adoption in 2022

Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.