'Bigg Boss 14': Salman Khan Schools Singer Rahul Vaidya On "Nepotism"

Bigg Boss 14: "People only survive with the audience's love, talent, and hard work," said show's host Salman Khan

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Being "BJP Lite" Will End Up Making "Congress Zero": Shashi Tharoor

Secularism as principle and practice in India is in "danger" and the ruling dispensation may even try to remove the word from the Constitution, senior Congress leader Shashi Tharoor has said, but...

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"In Bihar, Will Seek Blessings": PM To Hold 4 Rallies Amid Campaign Heat

Prime Minister Narendra Modi will be addressing four rallies today in Bihar as he visits the state where voting began on Wednesday for the three-phased elections, the country's biggest since the start...

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Tejashwi Yadav's 11 Questions For PM Modi Ahead Of His Bihar Visit

RJD leader Tejashwi Yadav, who has turned out to be a crowd puller at Bihar election rallies, this morning tweeted 11 questions for Prime Minister Narendra Modi ahead of his visit to the state. PM...

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After Stokes And Warne, Vaughan Falls Victim To Samuels' Abusive Rant

Marlon Samuels has been at loggerheads with Ben Stokes and Shane Warne for the past few days on social, and now Michael Vaughan has been added to the tirade.

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Zee Entertainment Q2 preview: Pressure on ad rates likely to remain a drag on bottom line

MUMBAI: Broadcaster Zee Entertainment Enterprises may post around 50 per cent decline in net profit in the quarter ended September, while net revenues may have dropped up to 28 per cent as advertising rates continue to reel under pressure due to the ongoing Covid-19 pandemic, and subscriptions revenues may be flat on a high base.While industry-wide advertising revenues have been improving gradually, they still remain under pressure as corporate spending has not yet picked up fully amid the current economic slowdown.Analysts also hope for better cash generation, sustained balance sheet improvement and update on funds recovery on sale of overseas investments earlier this year.Kotak Institutional Equities expects Zee Entertainment to report a decline of 53.3 per cent in the net profit from a year ago, while it believes net sales may have shrunk 17.4 per cent.Kotak analysts expect 25 per cent decline in ad revenues (down 65 per cent YoY in 1Q) and modest 2 per cent YoY growth in domestic subscription revenues.They foresee a decline in EBITDA margin by 900 basis points (bps) to 23.6 per cent, largely due to revenue decline and partly due to higher inventory amortization.Anand Rathi expects Zee’s revenue to drop 18.8 per cent YoY due to a 30 per cent YoY fall in domestic advertising revenues and flat YoY growth in domestic subscription revenues. It also expects the EBITDA margin to contract 1,070 bps YoY to 22 per cent, though it may rise 520 bps on a QoQ basis.Edelweiss expects Zee to report a 49.9 per cent drop in adjusted profits, while revenues may have dropped 17.6 per cent.“With the economic activity gradually picking up across the country, we expect Q2FY21 to be a much better quarter for ZEE owing to: i) improvement in the advertising environment; ii) resumption of fresh programming on GEC channels; and iii) reasonable recovery in viewership share across key markets (Hindi, Tamil, Marathi).,” Edelweiss analysts said in a note.“However, given that full economic recovery is yet to transpire, ad rates are likely to remain under pressure,” they added.The brokerage expects advertising revenue to dip around 28 per cent YoY (65 per cent dip in Q1FY21) in Q2FY21 for Zee, while subscription revenue growth is likely to be flattish at 2.5 per cent owing to a high base (27 per cent domestic subscription growth in Q2FY20). That said, content cost and marketing expenses are likely to inch up.

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पीएम मोदी की रैली से पहले तेजस्वी ने दागे 11 सवाल, बिहार को विशेष राज्य का दर्जा अभी तक क्यों नहीं मिला

प्रधानमंत्री की रैली से ठीक पहले राष्ट्रीय जनता दल (राजद) के नेता तेजस्वी यादव ने रविवार सुबह फेसबुक पर पोस्ट किया है। इसमें उन्होंने प्रधानमंत्री मोदी से कुछ सवाल पूछे हैं।

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जम्मू-कश्मीरः रोशनी एक्ट में बांटी गई लाखों कनाल जमीन का आवंटन रद्द

जम्मू-कश्मीर सरकार ने रोशनी एक्ट के तहत उच्च न्यायालय के फैसले को लागू करने का फैसला किया है, जिसके तहत इसे असांविधानिक करार दिया गया है।

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कोरोना के बीच रेलवे ने रद्द की कुछ फेस्टिवल और क्लोन ट्रेनें, जाने से पहले देखें ये लिस्ट

कोरोना और लॉकडाउन की वजह से पहली बार देश में रेलवे की गति रुकी थी। हालांकि श्रमिक परिवारों को उनके घर तक पहुंचाने के लिए रेलवे की ओर से कुछ स्पेशल ट्रेनें चलाई गई थीं। इसके अलावा रेलवे ने धीरे-धीरे मालगाड़ियों का संचालन भी शुरू किया गया। 

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"4 More Years For Warrior In White House": Trump's Daughter At Poll Rally

US President Donald Trump is a warrior and needs four more years in the White House, his daughter Ivanka Trump has said, asserting that he delivered more than his commitment to his countrymen.

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MG Gloster SUV Receives 2000 Bookings In 3 Weeks

MG Motor India has confirmed that the Gloster SUV has received more than 2000 bookings in just 3 weeks since its launch.

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Coronavirus India LIVE Updates: India Crosses 81-Lakh Covid-19 Cases

India reported a daily jump of 48,268 coronavirus infections in 24 hours, taking its tally past the 81-lakh mark, the Health Ministry data this morning showed.

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Gourmet food takes home delivery route

Nachiket Shetye and Bansi Kotecha have a lot on their plate since the pandemic began. Six months ago, they co-founded Kytchens, a “kitchen as a service” tech platform, out of Mumbai. Almost instantly, restaurants from across the country inundated them with requests to create models to take food to clients’ doorsteps, while retaining the packaging, presentation and taste patrons would have experienced if they had come in to eat. Many of these requests that turned into business for Shetye and Kotecha — who get into strategic partnerships with food and beverage brands to help them grow and expand — were from restaurants that seldom or never delivered before. It showed how even the fanciest of restaurants were adapting to the new reality. In a pandemic-struck world, where going to a restaurant has become anxiety-ridden or bothersome, restaurateurs have decided to take gourmet food and great experiences to the customers. Hundreds of high-end restaurants have suddenly popped up on the delivery map for the first time and a bunch of firms have gotten on to the gourmet cloud-delivery bandwagon.The pandemic was reason enough for hospitality industry veterans Anirudh Singhal, Prasanjit Singh and Abhijit Mukherjee to set up a new gourmet cloud kitchen, Shackhood, in Gurgaon. They didn’t want to sell step-down affordable food like other cloud kitchen brands. Ripped bags, crumpled packaging or soggy boxes were just not acceptable. “It isn’t just that the food has to have topend restaurant quality taste, it also has to come in good packaging,” says Singhal, who was keen on catering to their target audience in upscale residences even during the pandemic. Two months into the business, Shackhood has enough business to look at expanding. Food has never looked more attractive, Singhal says. “Inconsistencies were not an option for us. We have made YouTube style tutorial videos for our chefs on how to make and pack food to retain the gourmet experience.” Everything is boxed in the finest quality cardboard with glazed butter paper. This is not the usual cloudkitchen product, he clarifies. The average order for their gourmet delivery business is about Rs 1,500 for two — 3.5-4x more than the usual. 78972203Gourmet deliveries are especially characterised by customised service offering, better trained riders and food handlers as well as a dedicated call centre for patrons.Since the in-home dining experience has to be different albeit more attractive, Shetye says, it also must come with correct-sized service portions. “Some of these restaurants are not designed for delivery orders and are delivering large-sized sharing portions. It has to be more personalised than that. Customers wouldn’t mind paying restaurant-style prices but only as long as they get customised experience,” he says.As the pandemic shut down restaurants for good for a short period, Amit Ahuja, who runs Asian restaurant chain Misu in Bengaluru, realised that people’s cravings for good food would remain unfulfilled. Deliveries were never a big money spinner for Misu as their in-restaurant dining experience was the star attraction. So Ahuja decided to adapt to the new reality at warp speed. “With restaurants shut, we quickly switched from being a dine-in space to a delivery platform. We noticed there was so much demand for good-quality restaurant food at home that we even opened another cloud kitchen space to service a different part of the city.” Misu’s restaurants are now open but it will continue to operate its cloud kitchen to cater to the additional demand, Ahuja adds.If that does not indicate the potential of this segment, check out these numbers: Before the Covid-19 outbreak, Misu made only 10% of its revenue from deliveries. Now, it delivers 60-70% of its food; in-dining business is yet to take off like earlier. “It helped that we already had a brand. We only had to set up extra kitchens and make newer delivery friendly recipes,” he adds. 78972210While restaurant promoters are gung-ho about the revenue potential of the new model, gourmet chefs are happy to go beyond their kitchens to reach patrons.So when Sorrentina in Mumbai decided to send its exotic dishes to customers’ homes, it added a chef to the package. That way, its tajarin tartufo and burrata caponata can have the restaurant’s signature flavour till the end.Executive chef Aabhas Mehrotra says the restaurant has done about 10 such experiences since they launched this service a couple of months ago and has another 13 events lined up for next month. “This is not exactly a restaurant experience but we’re able to at least bring the gourmet experience to homes. We’ve been getting a lot of queries for preDiwali parties,” he says. The average at home experience from Sorrentina is Rs 2,500 per person. In Mumbai, Chef Prateek Sadhu, the coowner of Masque, says businesses will have to adapt to keep business going. The fine-dining restaurant delivered everything from brisket burgers to thukpas during the pandemic with surprise elements like balloons with the baskets of food. They also hosted tailgate events in their parking lot — customers could come and eat in their cars while maintaining social distance. “Customers don’t mind paying a little extra for personalised menus and qualitative food. Kitchens are restructuring their business models,” says Sadhu.In Delhi, Rishiv Khattar has taken the concept a step ahead by targeting the home chefs. His company, Makery, delivers do-it-yourself kits to customers who want ingredients — fresh and cleaned — so that they can make gourmet food at home easily. 78972230It has signed up with some of the most eclectic restaurant companies to cater to patrons. Makery puts the kits together, with an instruction card, while the restaurants collaborate at the recipe stage. The packages are hand-delivered by the company staff — sometimes in a car to ensure the packaging is intact.As fine-dining restaurants join the delivery bandwagon, pure cloud-kitchen players are getting into the gourmet space.Zomato sees a big potential in the segment, says Mohit Sardana, COO-food deliveries. The restaurant aggregator set up a gourmet delivery service this month with 350 partner restaurants in five cities. “Consumer behaviour has changed a lot since the pandemic. It has created this opportunity for us and the restaurants. And as we’ve noticed before, once a behaviour gets instilled, it is less likely to go away. People are likely to continue to order gourmet food at home even after the pandemic,” adds Sardana. 78972238Zomato didn’t have a gourmet category before. Next year, the company expects 15-20% of its business from this segment. “That is close to double of what it is right now. We will also soon have a dedicated fleet of riders for gourmet deliveries. They will be specially groomed and trained,” he adds. The company will also help create more rider-friendly packaging solutions.Restaurateurs say aggregators charge 20-30% of the order value as commission. The bigger the order, the larger the commission. Swiggy, the other major food aggregator in the country, has partnered with hotels such as ITC Hotels, Marriott, Hyatt and the Hilton across major cities. Some of these chains even tailored their offerings with a deliveryspecific menu to ensure the experience is best suited for home delivery. 78972254The aggregator has noticed that one in seven customers now order from gourmet restaurants. When compared with its preCovid levels, there has been a five-fold increase every month in signing up fine-dining restaurants for online deliveries. Its order value has grown 3X from pre-Covid days.Swiggy even has a curated gourmet selection for its sub-platform, Scootsy, in Mumbai. A Swiggy spokesperson says it has on boarded top-notch restaurants like Yauatcha and Hakkasan, The Table, Masque and Royal China, among others. “The delivery partners for Scootsy undergo a specialised training programme which covers grooming, food handling, restaurant etiquette and customer interaction. In fact, Scootsy on Swiggy has a list of special items for which we provide detailed training on right handling,” the spokesperson adds. 78972268As malls and restaurants shut down, LiteBite Foods, which usually positions its brands in food courts, was quick to realise that innovation was required to stay afloat. So it improved its packaging to enter the gourmet delivery space. Sushi is delivered on ice packs so it remains cold and fresh, airlock packaging keeps food hot, the company changed its menus five times in the last seven months to incorporate local, seasonal products. It also added more “food that travels better”.Rohit Aggarwal, director at Lite Bite, is confident of this business doing well. “Eating out has reduced but celebrations will continue,” he adds.

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Long and wrong? The election wild cards that may stump investors

By Kriti GuptaJust days before the U.S. election investors are largely positioned for a surge in risk sentiment under a Blue Wave scenario. For a handful of assets, there’s a chance that they’re completely wrong.Will a Joe Biden victory trigger an equities rally if the Senate remains Republican? Can Big Tech repeat its 273% ascent under President Donald Trump? Does the Democrats’ plan to shift to renewable energy mean oil’s dead? Bloomberg’s Markets Live team debated these topics and more in a live discussion and came up with alternative views beyond the consensus.Senate RiskConsensus view: A Biden victory helps risk assetsNon-consensus view: A Trump win helps risk assets -- but only with a Democratic SenateThe Senate race is key for fiscal stimulus. The gap between aid proposals from the Trump administration and House Democrats is narrow, so a flipped Senate could unlock more than $2 trillion of assistance. That could send the S&P 500 toward 3,650, a two standard deviation move from the index’s 12-month average closing price of 3,137. Beyond that, the next level to watch is 3900, the third standard deviation.78978108Alternatively, a Trump victory without a GOP Congress could be similar to a Biden victory without a Blue Wave, meaning more delays for federal aid. That would be troubling for equities and commodities. A split government could also influence how the White House deals with China, the European Union and other trading partners -- all of which could introduce risk to markets.JPMorgan Chase & Co.’s Chief Equity Strategist Dubravko Lakos-Bujas is eyeing the S&P 500 at ~3,900 in an “orderly Trump victory as the most favorable outcome for equities.”Tech ThreatConsensus view: A Blue Wave will hurt technology stocks, while a Trump win will help themNon-consensus view: Big Tech’s dominance is over, regardless of who’s in the Oval OfficeWhile a Blue Wave is considered pro-risk, potential antitrust action alongside rising corporate taxes would weigh on tech makers and suppliers in the U.S. and Europe. Asian tech could be an alternative given the lower valuations, earnings momentum and strong balance sheets, according to Societe Generale strategists.Among the companies that could entice investors are Alibaba Group Holding Ltd., Tencent Holdings Ltd., Taiwan Semiconductor Manufacturing Company and Samsung Electronics Co. Ltd., the biggest tech names on the MSCI Emerging Markets index. The MSCI Asia Pacific Information Technology Index gained 1.5% in October compared with a roughly 1.5% decline in the Nasdaq 100.78978113Meanwhile, a Trump win would likely bring less regulation and lower corporate taxes from about 21% to 15%. While that could keep Big Tech humming, a Trump second term also presents a double-edged sword. He’s openly attacked Amazon.com Inc. and Facebook Inc. for anticompetitive behavior and could step up his critique.Oil WhimsConsensus view: A Blue Wave hurts oil, while a Trump victory is crude-positiveNon-consensus view: The only sure thing for oil is more volatilityIn the short term, oil could rally on a Blue Wave, which the market is positioning for (as shown in the chart below). JPMorgan strategists estimate that a Biden win and Democrat Senate could add as much as 15% to crude prices on a combination of dollar weakness and fiscal stimulus. Eventually, however, the market will have to confront Biden’s plan to transition to renewable energy. And most Blue Wave policies could raise U.S. production costs, limiting the growth of shale supply, according to Goldman Sachs.78978118But these risks will play out over years and decades. Immediately after the election, oil’s more likely to follow broader risk assets.Trump has been a strong advocate for American oil and has brokered the biggest-ever voluntary output cuts by OPEC members. A second term could boost crude benchmarks, but also introduce more volatility. OPEC members facing their own domestic pressures are less likely to comply with further output cuts. And tough talk on trade and diplomacy -- like Trump’s dealings with China -- could hamper crude’s gains.

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Market’s collected wisdom on Presidents is often dead wrong

By Sarah PonczekThere’s been a narrative in trader circles for some time now that they’re fine with, maybe even a little excited about, the prospect of a Joe Biden presidency. Many a rally has been ascribed to growing chatter about the possibility of a blue wave on Election Day.And yet, for some investing veterans, there’s a nagging concern that this view is a little optimistic, that some of the things that have made Biden an attractive candidate for voters craving change could make for a rougher ride in markets.For one thing, they note, there’s his pledge to roll back the huge tax cuts that President Donald Trump handed corporate America back in 2017, a move that, irrespective of the public-policy merits it may have, at least has the potential to create stress for equities. There’s also the fact that Biden repeatedly says he cares little about what happens to the market. Even if that’s sloganeering and not quite true, it’s hard to believe he cares about it as much as Trump, who at times has seemed maniacally focused on goosing shares higher.Higher it did go, of course. So high that stock valuations are richer on the eve of next week’s election than they have been in any previous campaign cycle in history. That is perhaps the single biggest thing that worries the pessimists out there, that so much euphoria is baked into prices already -- about an end to the pandemic, about the economy’s ability to recover, about a rebound in earnings -- that almost any president taking over from Trump would wind up doing something to shatter the balance. 78978036“Biden has been clear his focus is not the stock market, it’s the economy,” said David Bianco, CIO of the Americas at DWS Group. “Inheriting the equity market at these levels is a big challenge to drive it substantially higher.”Biden’s old boss, Barack Obama, it should be noted, inherited the opposite situation a decade ago: a market rendered dirt cheap by the financial crisis. It’s perhaps little surprise then that, despite all the misgivings of his naysayers, he presided over one of the greatest bull markets of all time. Conventional wisdom on the sitting president was also wrong. Trump the candidate was panned as a loose cannon that markets would deplore, then went on to preside over the fourth best return for any first-term president.History shows that presidents matter little for equity prices, or at least their party affiliation: S&P 500 returns look alike regardless of who’s in power, and usually they’re positive. The bigger influence has tended to be what’s going on in the economy and markets themselves. And right now, not only are a pandemic and recession raging, but stocks, particularly tech stocks, are trading at prices that even hardened bulls struggle to justify.While valuations are a poor tool for timing, they’re a consideration in expected returns, meaning Biden could face an uphill battle keeping equities aloft no matter what he does. At the end of September, the S&P 500 fetched 36 times profits under standard accounting, more than double the usual at this point heading into elections. When multiples were near this high, stocks averaged 5 per cent annual gains in the ensuing decade, according to S&P 500 Dow Jones data compiled by Bloomberg since 1936. That’s half the gain coming off the lowest ones. 78978039Into that mix would walk Biden, whose platform, while never framed as anti-business, seeks to roll back at least a few of the policies that have given cover to anyone parking money in high-priced stocks. His campaign rhetoric may be just that, rhetoric, but its contrast with Trump is self-evident. “Where I come from,” he said in the last debate, “people don’t live off of the stock market.”Should the polls bear out and Biden prevail, “the market will likely celebrate, because it will be relieved that you’ll get that necessary fiscal support,” said Evan Brown, head of multi-asset strategy at UBS Asset Management. “But investors in U.S. equities may become a little bit more concerned about the less market-friendly ideas coming from his administration.”A Biden spokesman said the Democrat’s agenda would lift the economy in a more equitable way than Trump’s.“Joe Biden sees this race as Scranton versus Park Avenue because he is determined to ensure that our economy rewards work -- not just wealth,” said Andrew Bates. “Independent economists have demonstrated that Joe Biden’s agenda would create 7 million more jobs than Donald Trump, while growing our economy by more than Donald Trump, faster than Donald Trump.”Still, one question that has given investors pause is Biden’s approach to Covid-19 and whether his administration would be more willing to sacrifice the economy to control its spread. The former vice president has been hard to pin down on the question, pledging to rely on science and saying it’s possible to “walk and chew gum at the same time.” With coronavirus case counts surging anew, however, and stocks having their worst week since March, the issue is gaining urgency.“Whether you like Trump or you don’t like Trump, at least you know where he stands on Covid. You know he’s not going to shut down the economy,” said Vance Howard, chief executive officer at Howard Capital Management. “We don’t know where Biden stands. We don’t know if he would shut down the economy. That’s really got people over the past week with a lot of heartburn.”Bates, the Biden spokesman, said the goals aren’t mutually exclusive. “Joe Biden will shut down the virus -- not our economy -- by listening to medical experts, rather than undermining our response by disregarding and attacking them,” he said. 78978043Another worry for bulls is the Democrat’s pledge to roll back the 2017 Tax Cuts and Jobs Act, the Trump administration’s most explicit gift to investors. The year after it was enacted, profits for S&P 500 companies surged more than 20 per cent in three consecutive quarters, a rate not seen since the financial crisis ended, as earnings in aggregate for large public companies rose to a record.For his part, Biden has expressed desire for a higher minimum wage. His tax plan also includes raising long-term capital gains tax rates for high earners. And he’s pledged to roll back President Trump’s corporate tax cut, raising the rate to 28 per cent from 21 per cent, a move that could directly eat into the earnings component of stock valuations.“The emphasis of a Biden administration is more likely to be on consumers versus companies,” said Lori Heinel, deputy global chief investment officer at State Street Global Advisors. “It’s more likely to be on regulating certain industries like energy or financial services than not regulating or deregulating them. It’s likely to be an environment where the infrastructure spend is more geared toward areas like education versus potentially other kinds of infrastructure.”Trump’s other big economic policy initiative, his trade war with China, bore less obvious fruit for investors, and is viewed by many negatively, though it mainly played out in a year when the S&P 500 managed a 29 per cent gain, one of the best of the new century. While tit-for-tat threats frequently led to selloffs in the Dow, one feature of the fight was Trump’s seeming willingness to tone down rhetoric or return to the negotiating table when faced with a market in free fall.That divergence -- Trump as president most likely to kowtow to investor whims, Biden as the candidate who says his policies will be aimed at boosting everything but the 10 per cent of American families who own 84 per cent of all stocks -- is a difference that might matter, if all you care about is share prices.“They say the stock market will boom if I’m elected. If he’s elected, the stock market will crash,” Trump said in the last debate. To that, Biden responded: “That the stock market is booming is his only measure of what’s happening.” 78978044

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गाजीपुर में बाहुबली विधायक मुख्तार अंसारी के गजल होटल पर चला बुलडोजर, छावनी में तब्दील इलाका

मऊ के बाहुबली विधायक मुख्तार अंसारी की पत्नी व बेटों के नाम से गाजीपुर में संचालित गजल होटल पर सुबह 6.38 बजे बुलडोर चलना शुरू हो गया।

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चार साल की बच्ची ने गाया वंदे मातरम, पीएम मोदी ने बताया मनमोहक एवं सराहनीय

मिजोरम की रहने वाली चार साल की बच्ची इस्टर हनामते की इस प्रस्तुति ने राज्य के मुख्यमंत्री जोरामथंगा का ध्यान अपनी तरफ खींचा।

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Tamil Nadu Agriculture Minister Dies At 72, Weeks After He Tested Covid+

Tamil Nadu Agriculture Minister R Doraikkannu, who had tested positive for coronavirus, died last night at a private hospital in Chennai. He was 72.

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Cop Inflicts Burns On Toddler, Thrashes Her Mother, Arrested: Police

A policeman was arrested on Saturday for allegedly inflicting burns on a one-and-a-half-year-old girl with a cigarette butt and thrashing her mother in Chhattisgarh's Balod district, police said.

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फ्रांस: चर्च के बाहर पादरी को मारी गोली, हमलावर फरार

फ्रांस में दो महिलाओं की गला रेतकर हत्या को लेकर हंगामा थमा नहीं है, अब एक खबर फ्रांसीसी शहर लियोन के केंद्र में स्थित एक चर्च से आ रही है। यहां  एक एक फ्रांसीसी ऑर्थोडॉक्स पादरी को एक हमलावर ने गोली मार दी।

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India Records 48,268 New Coronavirus Cases In 24 Hours

India reported a daily jump of 48,268 coronavirus infections in 24 hours, taking its tally past the 81-lakh mark, the Health Ministry data this morning showed.

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Polls Not For Power But Honour For Gwalior-Chambal: Jyotiraditya Scindia

The battle in bye-elections for Madhya Pradesh assembly is not about power but respect for the Gwalior-Chambal region, BJP leader Jyotiraditya Scindia said on Saturday.

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ग्राउंड रिपोर्टः उत्तर बिहार बाढ़ से बेहाल, पर चुनावी मुद्दा नहीं

फुलदेव साहनी पिछले 40-50 साल से पशुओं के लिए चारा लाने और खेती के काम के लिए रोजाना तीन बार नाव से नदी पार करते हैं। यह उनकी मजबूरी है, क्योंकि खेतों में जाने के लिए कोई रास्ता नहीं है।

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Busy agenda for Biden's 1st 100 days if elected

WASHINGTON: Every candidate in the heat of a US presidential campaign talks up their goals for the first 100 days in office and Joe Biden, the Democrat challenging President Donald Trump, has done so for months.From battling the coronavirus to rejoining the Paris climate agreement and immigration reform, a Biden presidency, he says, would change course on multiple fronts."We're going to have an enormous task in repairing the damage he's done," Biden said recently of his rival.Here is a look at a possible first 100 days of a Biden presidency.Biden says he would immediately put a national strategy in place to "get ahead" of the virus and end the pandemic crisis.That means a nationwide mask mandate and a plan that allows for free and widespread Covid-19 testing, boosting of US medical equipment manufacturing and making any future vaccine "free to everyone, whether or not you're insured."Having accused Trump of undermining his own health experts, Biden has pledged to keep respected White House coronavirus task force member Anthony Fauci on board.He also said he wants to "take the muzzle off our experts" and cancel the process to withdraw the United States from the World Health Organization, which Trump initiated in July.Effectively reopening the economy is another immediate priority, says Biden.The Democrat, relying on his experience wooing lawmakers from both political parties, will demand Congress agree on a huge coronavirus relief package to assist struggling families and ravaged small businesses.In July Biden unveiled his "Build Back Better" strategy, a $700 billion blueprint to create millions of jobs. Financing would come through tax hikes on the wealthiest Americans and on major corporations.Biden has also pledged to invest heavily in renewable energies.Biden has long called for comprehensive action to combat climate change in the United States, battered by growing numbers of hurricanes and wildfires in recent years."The first thing I will do, I will rejoin the Paris accord," Biden promised during his debut debate against Trump, who exited the landmark global agreement in 2017. "Because with us out, look what's happening. It's all falling apart."Biden says he would also convene a climate summit of the world's leading polluters to "persuade" them to make more ambitious pledges to reduce carbon emissions.Biden has adopted an ambitious $2 trillion climate change plan including a "clean energy revolution" that aims to achieve net zero emissions economy-wide no later than 2050.He also promised to quickly reverse several of Trump's rollbacks of regulations on environmental standards.Biden has promised to quickly appoint a bipartisan national commission that would have 180 days to study the judicial system -- which the Democrat said is "getting out of whack" -- and propose reforms.He has said he is "not a fan" of expanding the US Supreme Court beyond its current nine members.But other Democrats have expressed a clear preference for the move now that Trump's third nominee to the bench, Amy Coney Barrett, has been confirmed, cementing its six-three conservative majority.Biden, who authored numerous tough-on-crime bills when he was a senator, is also calling for sweeping criminal justice reform.His plans include creating a grant program that encourages states to reduce incarceration and crime, ensuring housing for formerly incarcerated individuals and strategies to reduce repeat offending.Biden has promised a substantial set of immigration reforms should he win the White House.He has announced he would immediately create a federal task force to reunite more than 500 children who were taken from their parents by the Trump administration at the US-Mexico border.Biden has described the separations as a "criminal" result of Trump's zero-tolerance policy aimed at deterring migrants from crossing into the US.He would also rescind the travel bans that prohibit foreign nationals from several majority Muslim countries from entering the United States.One of his more controversial steps could be action on the millions of undocumented people living in the United States."Within 100 days, I'm going to send to the United States Congress a pathway to citizenship for over 11 million undocumented people," Biden said in his final debate with Trump, on October 22.He also pledged to let minor children who entered the country with their parents illegally -- a group of about 700,000 young people known as Dreamers -- to legally stay and take steps toward US citizenship.

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Johnson & Johnson plans to test its COVID-19 vaccine in ages 12-18 soon

NEW YORK: Johnson & Johnson plans to start testing its experimental COVID-19 vaccine in youths aged 12 to 18 as soon as possible, and the company's previous experience with the same technology in a vaccine successfully used in children could give it a leg up with regulators."We plan to go into children as soon as we possibly can, but very carefully in terms of safety," J&J's Dr. Jerry Sadoff told a virtual meeting of the U.S. Centers for Disease Control and Prevention's (CDC) Advisory Committee on Immunization Practices on Friday.Depending on safety and other factors, the company plans to test in even younger children afterwards, said Sadoff, a vaccine research scientist at J&J's Janssen unit, without giving a timeline.J&J said in a statement that it is currently in discussions with regulators and partners regarding the inclusion of the pediatric population in its trials.The U.S. Food and Drug Administration has said it is important for drugmakers to test their vaccines in children. Some doctors have raised concerns that the vaccines themselves could trigger a rare, life-threatening condition called Multisystem Inflammatory Syndrome in some children.Rival drugmaker Pfizer Inc has already begun testing the COVID-19 vaccine it is developing with Germany's BioNTech in children as young as 12. Their vaccine uses messenger RNA (mRNA), a new technology that has yet to produce an approved vaccine. J&J's uses a cold virus to deliver coronavirus genetic material in order to spur an immune response. The platform - called AdVac - is used in a vaccine for Ebola that was approved in Europe earlier this year and used on more than 100,000 people, including infants, children, and pregnant women.The technology's history of safety should be important to regulators, said Dr. Paul Spearman, director of the infectious diseases division of Cincinnati Children's Hospital."Most of the toxicities are going to come from the platform and not from putting a different insert into the platform, Spearman said. So replacing the Ebola genetic material with that of the novel coronavirus "is unlikely to give you major issues," he added.J&J started testing the vaccine in adults in a 60,000-volunteer Phase III study in late September. It had to pause the trial earlier this month because of a serious medical event in one participant. The study resumed last week.

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गुजरात: राष्ट्रीय एकता दिवस कार्यक्रम में शामिल हुए पीएम मोदी, परेड की सलामी ली

प्रधानमंत्री नरेंद्र मोदी आज आठ बजे स्टैच्यू ऑफ यूनिटी पर सरदार पटेल को श्रद्धांजलि देंगे। फिर वह राष्ट्रीय एकता दिवस परेड देखेंगे और नौ बजे सभा को संबोधित करेंगे।

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एम्स निदेशक ने चेताया, बाजारों में घूमने और मास्क न लगाने वाले कर रहे बड़ी चूक

एम्स के निदेशक डॉ. रणदीप गुलेरिया ने शुक्रवार को कोरोना वायरस के प्रति लापरवाही बरतने वालों को चेतावनी देते हुए कहा है कि बाजारों में घूमने, सामाजिक दूरी का पालन नहीं करने और मास्क नहीं लगाने वाले बड़ी चूक कर रहे हैं।

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In Reversal, Walmart To Keep Guns In Stores

Walmart reversed course Friday and said it would keep guns in shopping areas, quickly shifting away from a plan to keep firearms away from customers.

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Watch: Chris Gayle Throws His Bat In Anger After Missing Century By 1 Run

Chris Gayle missed out on a century by the barest of margins as he was dismissed by Rajasthan Royal fast bowler Jofra Archer for 99 on Friday.

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Apple Told To Pay $503 Million In Patent Case By US Jury

A jury in Texas on Friday decided that Apple should pay $503 million for infringing virtual private network technology patented by software security firm VirnetX.

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इलाहाबाद हाईकोर्ट ने कहा- सिर्फ विवाह के लिए किया गया धर्म परिवर्तन स्वीकार्य नहीं

इलाहाबाद हाईकोर्ट ने कहा है कि सिर्फ विवाह करने के लिए किया गया धर्म परिवर्तन मान्य नहीं है। क्योंकि ऐसा धर्मपरिवर्तन किसी विशेष उद्देश्य के लिए किया जाता है।

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KXIP के हारने के बाद अंकतालिका के बदले समीकरण, जानें प्लेऑफ का पूरा गणित

आईपीएल 2020 का रोमांच अपने चरम पर है। यूएई में खेले जा रहे चर्चित टी-20 लीग में अब प्लेऑफ की दौड़ बेहद रोमांचक हो गई है।

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France Back In Virus Lockdown As Europe Cases Top 10 Million

France entered a new lockdown on Friday as the resurgent coronavirus pandemic increasingly forced other countries to consider following suit, with Europe passing 10 million total infections and the...

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We Want To See Our Fans In India And Show Them Our Performances: BTS

BTS started and ended the interview by saying Namaste to the Indian audience

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"It Was Chaos...": 22 Dead As Major Quake Hits Turkey, Greece

A powerful earthquake hit Turkey and Greece on Friday, killing at least six people, levelling buildings and creating a sea surge that flooded streets near the Turkish resort city of Izmir.

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Indian consumer recovery grabs eyeballs

KOLKATA|MUMBAI: India’s strong recovery has found mention in the quarterly earnings calls and statements of global chiefs of nearly half a dozen consumer multinational corporations (MNCs), including Apple, Amazon, Samsung, Unilever, Whirlpool and Kimberly-Clark.Most companies indicated that the market has bounced back sharply in the July-September quarter.On Friday, Apple chief executive Tim Cook said the iPhone maker had set a September quarter sales record in India, while Amazon chief financial officer Brian Olsavsky said it had a strong Prime Day in August and that Diwali season sales were off to a good start.“Geographically, we set September quarter records in the Americas, Europe and the rest of Asia Pacific,” Cook said in Apple’s earnings call. “We also set a September quarter record in India, thanks in part to a very strong reception to… launch of our online store in the country.”Demand for smartphone and consumer electronics has surged in India, with consumers buying the latest mobile phones, laptops, television sets and appliances to adapt to work and study from home, besides automating household chores.In its earnings release on Thursday, Samsung Electronics said overall market demand increased in the September quarter as stimulus measures helped many economies recover after the lockdown.The South Korean giant said smartphone sales rose sharply from the previous quarter, with the launch of flagship models and “stronger sales of mass-market models in key regions, including India.”78962558Outlook optimistic nowWhirlpool Corp chief financial officer Jim Peters said it saw a rebound in India business and expects regional results to gradually improve as the impact of the pandemic declines through the year.The optimism comes months after sales were hit as India implemented one of the world's biggest lockdowns to curb the spread of Covid-19. Restrictions were eased in phases from May. However, in July, states implemented intermittent lockdowns that led to disruptions in supply chains and business cycles.Also, most companies were concerned about the increasing Covid-19 cases in India, making the outlook highly uncertain.They have veered round to a more optimistic view now. For instance, Unilever chief financial officer Graeme Pitkethly last week said it’s “over the hump in India,” citing a pickup in economic activity and the marketplace. Kimberly Clark CEO Mike Hsu said its India business had seen strong double-digit growth.To be sure, not all consumer companies have exceeded pre-Covid sales growth numbers as some discretionary categories, especially liquor, are still struggling to expand.Carlsberg on Thursday said recovery in the country had been robust due to a large young population, but life and businesses are only slowly returning to normal and the impact on the economy is severe.“In India, the infections are very high — 95% of off-trade outlets are open but the number of customers remains subdued as they fear contracting the virus with crowds gathering,” Carlsberg global chief executive Cees ’t Hart told investors. India’s environment is highly uncertain and volatile, as the market is struggling socially and economically, he said.

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Singapore order won't impact assessment of Future-RIL deal: CCI official

NEW DELHI: The interim judgement of a Singapore arbitration court barring the Future Group from going ahead with the deal with Reliance Retail will not have a bearing on the Competition Commission of India’s regulatory assessment, an official said.The competition watchdog’s limited concern is towards the two parties involved and the deal’s impact on competition, said a CCI official.“I don’t think the arbitration in the Singapore court would have any bearing on CCI’s progress. For CCI, the picture is just the two parties involved in the deal and its impact on competition,” the official said.On September 23, RIL had sought CCI’s approval for its Rs 24,713 crore acquisition of the online and offline businesses of the Future Group in August.In an interim order on October 25, the Singapore International Arbitration Centre (SIAC) restrained the two concerned parties from going ahead with the deal.The order was based on a plea filed by Amazon claiming the deal violates the terms of its agreement with the Future Group when it acquired a 49% stake in Future Coupons for about Rs 1,500 crore in 2019.“The firm filing the combination notice with the CCI should disclose if any other firms have a first right to refusal on the stakes involved but it doesn't matter as far as the proceedings before the commission is concerned,” the official said.

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एक महीने में नौ लाख मरीज घटे, 85 दिन बाद छह लाख से नीचे रह गए सक्रिय मामले

कोरोना वायरस के हर दिन कम हो रहे संक्रमित मरीजों के चलते देश में 85 दिन बाद पहली बार छह लाख से नीचे सक्रिय मामले सामने आए हैं। वहीं, सितंबर की तुलना में अक्तूबर में नौ लाख संक्रमित मरीज कम हुए हैं।

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आज दिखेगा 'ब्लू मून' का दुर्लभ नजारा, महीने में दूसरी बार करिश्मा

अक्टूबर महीना शनिवार को 'ब्लू मून' का गवाह बनेगा और इस दौरान एक महीने के भीतर दूसरी बार दुर्लभ पूर्ण चंद्र दिखेगा।  

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रिपोर्टः पहली-दूसरी कक्षा की 33 फीसदी पढ़ाई मम्मी ने करवाई, सरकारी स्कूलों में अध्ययन का रुझान बढ़ा

लॉकडाउन के दौरान पहली और दूसरी कक्षा के 33 फीसदी विद्यार्थियों को उनकी मम्मी ने पढ़ाई करवाई है जबकि नौंवी से 12वीं के 15 फीसदी छात्रों को ही मम्मी से पढ़ाई में मदद मिल पाई है।

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IPL 2020 Points Table: RR Beat KXIP To Spice Up Race For Playoffs

IPL 2020 Orange Cap and Purple Cap holder list: Leading run scorer KL Rahul consolidated his position at the top with a knock of 46 runs on Friday.

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तुर्की में आए शक्तिशाली भूकंप से अब तक 17 लोगों की मौत, 709 घायल

तुर्की के तट और यूनान के सामोस प्रायद्वीप के बीच एजियन सागर में शुक्रवार को आए शक्तिशाली भूकंप के चलते तुर्की में अभी तक 17 लोगों की मौत हो गई जबकि 709 लोग घायल हो गए।

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बिहार चुनाव: कटिहार विधानसभा की सात सीटें, लोजपा बिगाड़ रही जदयू का समीकरण

कुछ इलाकों में एआईएमआईएम उम्मीदवार और अन्य मुस्लिम उम्मीदवारों का प्रभाव है। इसी प्रकार कदवा में मुस्लिम मतदाता वर्तमान कांग्रेस विधायक शकील अहमद खान और एनसीपी के उम्मीदवार निजाम राही के बीच बंटे हैं।

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IPL 2020: स्टोक्स का ऑलराउंड प्रदर्शन, पंजाब को हराकर राजस्थान प्लेऑफ की दौड़ में

बेन स्टोक्स के ऑलराउंड खेल के दम पर राजस्थान रॉयल्स ने आईपीएल के रोमांचक मुकाबले में किंग्स इलेवन पंजाब को 15 गेंद शेष रहते सात विकेट से पराजित कर प्लेऑफ की उम्मीदें कायम रखी हैं।

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बदलाव का एक सालः हर भारतीय के लिए खुले जम्मू-कश्मीर के द्वार, भ्रष्टाचार पर कस रही नकेल

राज्य पुनर्गठन कानून लागू होने के एक साल के भीतर जम्मू-कश्मीर में विभिन्न स्तरों पर कई बदलाव हुए हैं।

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Pak Minister's Admission Reveals Truth Of Pulwama Attack: Rajnath Singh

Defence Minister Rajnath Singh Friday said that a Pakistani minister's admission of his country's involvement in the 2019 Pulwama attack has revealed the truth on the matter and silenced those who had...

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मध्यप्रदेश उपचुनाव: भाजपा उम्मीदवार के प्रचार के लिए बुंदेलखंडी लोकगीतों की धुन पर लगाए ठुमके

मध्यप्रदेश में तीन नवंबर को उपचुनाव के लिए मतदान होने हैं। उपचुनावों के लिए प्रचार-प्रसार जोरों पर है। इधर भाजपा चुनाव कैंपेन के तौर पर लोकगीतों का इस्तेमाल कर रही है।

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आंध्र प्रदेश: ईस्ट गोदावरी जिले में भीषण सड़क हादसा, वैन पलटने से छह की मौत

आंध्र प्रदेश के ईस्ट गोदावरी जिले में कल रात भीषण सड़क हादसा हुआ है। जिल के थांटीकोंडा गांव में एक वैन पलट गई, जिससे छह लोगों की मौत हो गई। वहीं, इस दुर्घटना में घायल लोगों को इलाज के लिए अस्पताल ले जाया गया है।

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Twitter Deletes Ex-Malaysian PM's Tweet For Glorifying Attack In France

Social networking platform Twitter on Thursday removed former Malaysian Prime Minister Mahathir Mohamad's tweet, for violating its rules banning the glorification of violence, shortly after a violent...

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Coronavirus LIVE Updates: Coronavirus Cases Cross 80-Lakh Mark In India

Coronavirus Latest News LIVE Updates: India's COVID-19 caseload surpassed the 80-lakh mark on Thursday with 49,881 new cases.

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"Baap Re Baap": Sakshi Dhoni Reacts To Ravindra Jadeja's Hitting. See Pic

IPL 2020, CSK vs KKR: Sakshi Dhoni marvelled at Ravindra Jadeja's immaculate six-hitting for Chennai Super Kings against Kolkata Knight Riders.

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"Risk Of Civil Unrest" Around US Election, Warns Mark Zuckerberg

Facebook chief Mark Zuckerberg on Thursday warned of the potential for civil unrest as votes are tallied in a US election that will be "a test" for the social network.

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Apple sees record quarter sales in India

Apple chief executive officer Tim Cook on Friday said the iPhone maker has set a new September quarter sales record in India due to strong response of its company-owned online store in the country.In its July-September earnings call, Cook said: “Geographically, we set September quarter records in the Americas, Europe and Rest of Asia Pacific. We also set a September quarter record in India, thanks in part to a very strong reception to this quarter’s launch of our online store in the country.”While Cook did not elaborate further, industry executives said strong sales of iPhones especially of the iPhone SE and 11 series, iPads and Mac computers further fueled sales in India as consumers preferred to buy Apple devices as India continues work and education from home due to the Covid-19 pandemic. Apple rolled out the Apple online store in India late September where it has been selling and fulfilling all its products to consumers, although often at higher prices than what they are available in e-commerce marketplaces Amazon and Walmart-owned Flipkart. Analysts had called out that Apple needs to maintain pricing parity with other e-commerce platforms to gain share with its online store.The Covid-19 pandemic has boosted sales of electronics products, including smartphones, in online platforms in India. As per marker researcher and sales tracker GfK India, e-commerce contribution for smartphones is up from 29% to 32% in June-August this year over last, whereas for premium smartphones priced above Rs 30,000 the contribution is up from 38% to 43%.Apple’s new iPhones – iPhone 12 and 12 Pro – will go on sale in India from today and the company has already received the highest ever pre-orders on the two models in the country, industry executives said.As per Hong Kong-based smartphone shipment tracker Counterpoint Research, Apple has overtaken China’s OnePlus as the leader in the premium smartphone segment or those priced above Rs 30,000 even before its flagship iPhone 12 series launch. This is driven by strong demand for its iPhone SE 2020 and the iPhone 11. The researcher said the upcoming flagship iPhone 12 will further strengthen Apple’s position in the October-December quarter.

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राजधानी दिल्ली का प्रदूषण स्तर गंभीर श्रेणी में, बवाना में 447 पहुंचा एक्यूआई

पराली के धुएं और हवा की गति कम होने से राजधानी दिल्ली में आज प्रदूषण स्तर गंभीर श्रेणी में पहुंच गया है।

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खुलकर बोले अमेरिकी मतदाता, ट्रंप या बिडेन को इन मुद्दों पर मिलेगी सत्ता की चाबी

कोरोना वायरस महामारी के दौरान अर्थव्यवस्था और नौकरियां मुख्य मापदंडों में से एक हैं, जिस पर मतदाता डोनाल्ड ट्रंप और उनके डेमोक्रेटिक प्रतिद्वंद्वी जो बिडेन में से किसी एक को 3 नवंबर के चुनावों में अगले अमेरिकी राष्ट्रपति के रूप में चुनेंगे।

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पाकिस्तान: इमरान सरकार का दावा, विंग कमांडर अभिनंदन की रिहाई के लिए नहीं था कोई दबाव

पाकिस्तान सांसद अयाज सादिक ने हाल ही में खुलासा किया कि उनके देश को डर था कि अगर विंग कमांडर अभिनंदन वर्धमान को रिहा नहीं किया गया तो भारत उन पर हमला कर सकता है। वहीं, सांसद के इस बयान के बाद पाकिस्तानी विदेश कार्यालय सफाई पेश करने में जुट गया है।

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Delhi Man Stabbed Multiple Times, Dies; Chilling Attack Caught On CCTV

A young man punched and kicked by a man and then stabbed multiple times as two others watch. The chilling sequence was caught on a CCTV camera from south Delhi's Tigri area. The police have arrested...

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Margins, premium product mix to set course for Maruti

ET Intelligence Group: Maruti Suzuki is still the favourite mile muncher in India’s post-lockdown drive — but not in the most swish set of wheels in its garage.The Maruti dashboard displayed good sales volumes in the September quarter, although the proportion of entry-level cars increased, crimping margin expansion at the carmaker that sells one of every two cars running on Indian roads. So, margins and a more premium product mix in its sales will determine directional trends for the Maruti stock.Sales volume of the maker of Alto and Swift rose 16 per cent to 3.93 lakh units, but operating margins at 10.3 per cent fell short of expectations. Typically, margins shrink when discounts are high. But with discounts actually reducing, the decline is explained by a sales mix dominated by entry-level vehicles.Product mix is changing due to the higher share of the mini cars in total volumes and the absence of diesel variants, which are about Rs 1 lakh more expensive than petrol cars. The share of the mini cars rose to 24 per cent in the September quarter, a gain of almost 500 basis points compared with last year. Consequently, the average realisation per vehicle dropped by 5.1 per cent to Rs 4.76 lakh, the lowest in six quarters. The decline in realisations depressed revenue growth at 10 per cent despite 16 per cent volume expansion. A lot of first-time buyers are choosing personal mobility over shared or public transportation, thus increasing the proportion of smaller cars in total volumes. In addition, more rural sales than urban are pushing demand for lower-priced models. The share of rural rose 41 per cent in the September quarter, a gain of around 300 basis points from the last fiscal year. That might limit the company’s ability to boost prices to offset higher commodity costs. The management said pressure on margins may continue over the next couple of quarters due to higher commodity prices.78939980Projected operating profit margins for the current and next fiscal year were in the range of 10-12.5 per cent.Therefore, volume growth is key. Retail sales growth in the Navratri is 30 per cent compared with the previous year season, and plants are running at more than 90 per cent of capacity utilisation. The Street has pencilled in volume of 13-13.5 lakh units for the current fiscal, which implied volume decline of 13 per cent compared with FY20.However, the current momentum suggests the projections could be revised upward to 13.7-14.25 lakh units. The stock is trading at 34 times one-year forward earnings, a 68 per cent premium to the long-term average. Premium valuations suggest the market has already priced in a volume upcycle.

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बिहार चुनाव: तेजस्वी संग महागठबंधन के 27 विधायक मैदान में

विधानसभा के दुसरे चरम में 17 जिलों की 94 सीटों के लिए तीन नवंबर को होने वाले चुनाव में एनडीए और महगठबंधन के बीच आर पार का मुकाबला होने वाला है।

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'घर से काम' कर रहे कर्मचारियों की रचनात्मक और उत्पादकता घटेगी

अर्थशास्त्री एंडी हालडेन का कहना है कि घर से काम करने की नीति का लाभ ये है कि संक्रमण से बचाव होगा। लेकिन हानि ये है अगर ये व्यवस्था लंबे समय तक  जारी रहेगी तो इससे कर्मचारियों की रचनात्मकता और उत्पादकता में कमी आएगी।

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Late iPhone Launch Temporarily Wiped $100 Billion Off Apple's Stock Value

The late launch of new 5G phones caused Apple Inc's customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years.

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Traders roll over fewer positions to November F&O series

Mumbai: Jittery traders carried forward fewer futures positions to the November series on expiry of the October contracts on Thursday amid uncertainty over the outcome of the US Presidential election next week and concerns over the second wave of coronavirus-led restrictions in Europe. Derivative analysts said the bullish bias is intact as the index has gained 8 per cent in the October series but some positions were liquidated ahead of expiry as wild market swings are expected around the US elections on November 3.Nifty rollovers to the November series stood at 72 per cent on provisional basis, lower than the three-month average of 76 per cent. The Bank Nifty gained 18 per cent in the October series. The bank index has seen rollover of around 80 per cent on provisional basis, slightly higher than the three-month average of 77.3 per cent. “Outlook is cautious because of US elections and the second wave of Covid in some countries. Writing among puts has shifted lower to 11,200 strike against 11,500 strike earlier,” said Rajesh Palviya, head of technical and derivatives at ICICI Securities. “Many of the stocks are seeing profit booking immediately after the results... they are not able to sustain their rallies after posting good numbers.” Analysts have also predicted a wide range for the index between 11,200 and 12,200. Options data in the new series is also scattered across various strikes, with maximum open interest among puts at 11,000 followed by 11,500 strike. Among call options, maximum call OI is at 12,000 followed by 12,500 strike. Some in the market believe that re-election of Donald Trump as US President would mean continuity in policies and he is considered to be more market-friendly. There are others who believed that it will not matter who is elected and that post election market direction hinges on the stimulus announcement in the US. “Nifty has to cross and hold above 11,750-11,777 zone for a bounce towards 12,020 then 12,200 zones ahead of festive season while on the downside major support exists at 11,500 then 11,333 zones,” said Chandan Taparia, derivatives analyst at Motilal Oswal.

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आतंकवाद के खिलाफ फ्रांस को मिला दुनिया का साथ, यूएई-ईरान ने भी की निंदा

फ्रांस के नीस शहर में एक अज्ञात हमलावर ने एक चर्च बाहर दो महिला और एक आदमी को मार दिया और कई लोगों को घायल कर दिया था।

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रितुराज-जडेजा ने दिलाई चेन्नई को जीत, हार से कोलकाता का प्लेऑफ में पहुंचना मुश्किल

रितुराज गायकवाड़ (72) के बाद अंतिम दो ओवरों में रविंद्र जडेजा (31*) के कमाल से चेन्नई सुपरकिंग्स ने कोलकाता नाइटराइडर्स को छह विकेट से हरा दिया।

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शास्त्री ने किया 'सूर्य नमस्कार', कहा- मजबूत रहें और संयम बनाए रखें

भारतीय क्रिकेट टीम के मुख्य प्रशिक्षक रवि शास्त्री ने कहा है कि सूर्यकुमार से अपील की है कि वह मजबूत बने रहें और संयम बनाए रखें।

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Sharad Pawar Runs State, No Use Meeting Uddhav Thackeray: State BJP Chief

It is NCP president Sharad Pawar who is running the Maharashtra government, state BJP chief Chandrakant Patil said on Thursday.

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खतरनाक श्रेणी में पहुंचा राजधानी का प्रदूषण स्तर, बवाना का हाल सबसे बुरा, 453 पहुंचा एक्यूआई

पराली के धुएं और हवा की गति कम होने से राजधानी में बृहस्पतिवार को प्रदूषण स्तर खतरनाक श्रेणी में पहुंच गया।

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निकिता हत्याकांड: तीन राज्यों में सुलग रही विरोध की चिंगारी, दिल्ली के हिंदूवादी संगठन भी सक्रिय

बल्लभगढ़ के अग्रवाल कॉलेज गेट पर बीकॉम अंतिम वर्ष की छात्रा निकिता तोमर की सरेआम हत्या के बाद से विरोध की चिंगारी हरियाणा समेत तीन राज्यों में सुलगने लगी है।

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Days After Uddhav Thackeray Spat, Maharashtra Governor Meets MNS Chief

Maharashtra Navnirman Sena chief Raj Thackeray today met Maharashtra Governor BS Koshyari ostensibly to discuss the issue of high electricity bills. Coming days after the latter's sharp exchanges with...

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भारत के खिलाफ वनडे और टी-20 सीरीज के लिए ऑस्ट्रेलियाई टीम का एलान, 33 वर्षीय ऑलराउंडर की वापसी

ऑस्ट्रेलिया ने भारत के साथ होने वाली आगामी द्विपक्षीय सीरीज के लिए अपनी टीम का एलान कर दिया है।

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Share Market Today: शेयर बाजार में गिरावट जारी, 40000 के नीचे कारोबार कर रहा सेंसेक्स, निफ्टी भी लुढ़का

आज सप्ताह के चौथे कारोबारी दिन यानी शुक्रवार को भी शेयर बाजार में गिरावट जारी है। बॉम्बे स्टॉक एक्सचेंज का प्रमुख इंडेक्स सेंसेक्स 298.36 अंक (0.75 फीसदी) नीचे 39624.10 के स्तर पर खुला।

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"Let Abhinandan Go": Pak Leader Says Army Chief "Was Shaking" At Meet

Pakistan Army Chief Qamar Javed Bajwa's "legs were shaking" while Foreign Minister Shah Mehmood Qureshi told a meeting of parliamentary leaders that India was about to attack their country, said a...

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Bride-To-Be Kajal Aggarwal Shares Pic From Pre-Wedding Festivities

We can't wait to see more pictures from Kajal Aggarwal's pre-wedding festivities

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Watch: Kohli's Adorable Gesture For Anushka That Is Winning Over Internet

Anushka Sharma has been spotted in the stands, cheering her husband in a number of IPL games this year.

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Porsche Taycan Launched In Middle East & Africa With Light Show At Burj Khalifa

The Taycan 4S has a battery range of 463 km and it is the first production vehicle with a voltage of 800 volts. It can charge at 11kW AC charging.

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"It's Going To Be A Bloodbath": A City Faces Huge Cost Of Virus Lockdown

As countries across the globe grapple with the prospect of renewed lockdowns, the Australian city of Melbourne offers a stark lesson on the costs of bringing the coronavirus under control.

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India should focus on infrastructure, easing tax rules: Brian Moynihan, CEO, Bank of America

Mumbai: India should focus on building infrastructure and easing tax rules to help foreign investors own businesses in the country, Brian Moynihan, CEO of Bank of America, has said.“India’s long-term prospects will depend on its workforce and structural changes in areas like developing supply chains and centres of computing capabilities which will help attract foreign direct investment,” Moynihan, the head of US’ second-largest bank, told ET in an interview. “But in the long term, it’s all about the tax, investment and infrastructure policies, and building talent. Also, easing regulations to allow foreign companies to own vital businesses and services in the country.”Governments across the world should prioritise handling the humanitarian crisis sparked by the pandemic through stimulus for the most-affected sectors like hotel and travel. Government finances can be fixed after the crisis is over, he said. “The stimulus has to be aimed at the industries that need help most because it is a human question now to help people get through the rest of this virus’ term,” he said. “Hotel, air travel, restaurants and, movie and theatre workers need assistance. This is not the time to focus on fiscal conservatism when you have a major healthcare and humanitarian crisis together. I don’t think there is any disagreement among anybody on that... to ensure that we get this crisis behind.’’‘We Continue to Invest in Skills’Moynihan joins top global executives such as JPMorgan’s Jamie Dimon and others in seeking government spending to bail out economies and for India to open up more to foreign investments with US-China trade ties fraying. India could become a destination for multinational companies if red tape is eased and the pace of permissions accelerates. “The government should continue to provide infrastructure, networks, power and systems that are important to us (investors) because we have lots of people getting into work and lots of information to process,” said Moynihan. “Secondly, it’s the education system. We believe strongly in continuing to educate the talent you have in the country and we continue to invest in skills.”Economies would continue to struggle till the time the impact of the crisis gets clear, but the financial systems are better positioned than the financial crisis of 2008, he said. “This is a healthcare crisis and until this crisis becomes clear, you are going to have issues on economic activity,” Moynihan said. “But when it hit, the banking and financial systems had more capital to change operations, reduce activity and had the ability to help rather than be a strain on resources.”He believes that there is a disconnect between the real economy and the financial markets.“We believe that the valuations of companies will come back and adjust to the economy as it recovers. People forget that rates are low because the economy needed rates for accommodation,” the banker said.

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Maruti Suzuki may deliver double-digit profit growth, solid margin in Q2

NEW DELHI: After reporting a loss for the June quarter, Maruti Suzuki looks set to report double-digit growth in profit for September quarter, thanks to healthy demand for entry-level cars. Sales are expected to rise in line with volume growth, but realisation per vehicle may drop due to poor product mix, analysts said.Lower discounts, operating leverage would nonetheless drive margins, they said. The largest car maker in India will report its earnings later on Thursday. Maruti has reported a 16 per cent YoY growth in volumes at 3,93,000 units. Compared with June quarter, the volume growth was a massive 413 per cent. Marketmen tracking the sector said Maruti numbers would be aided by its leadership position and broadbased presence in the market.HDFC Securities said any comment on demand trends, particularly in that of the entry-level cars segment, and new product launch timelines would be watched keenly.It expects Maruti to report a 11 per cent YoY rise in profit at Rs 1,510 crore. Sales are seen rising 16 per cent to Rs 19,770 crore, but Ebitda margins may fall 46 basis points YoY to 9 per cent, HDFC Securities said.Not all brokerages, however, expect a margin squeeze. Brokerages such as Motilal Oswal Securities and Sharekhan expect margins to expand by over 150 basis points.Sharekhan is expecting a 19 per cent growth in profit at Rs 1,617.80 crore on a 13.9 per cent growth in sales at Rs 19,352 crore. "Realisation per vehicle is likely to decline marginally 2 per cent YoY driven by increased mix of entry cars," it said.The brokerage expects Ebitda margin to rise 179 basis points to 11.3 per cent compared with 9.5 per cent in the year-ago quarter.Motilal Oswal Securities projects margins to rise to 11 per cent on low discounts and operating leverage. It expects adjusted profit to grow 17.3 per cent YoY to Rs 1,593.70 crore and sales by 11 per cent to Rs 18,847 crore."Product launches and competitors’ diesel portfolio performance will be the key monitorables, it said.

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Boat Storm Smartwatch With Blood-Oxygen Monitoring Features Launched

Boat has launched its first smartwatch, Boat Storm, with 24/7 heart rate and blood-oxygen monitoring features. Boat Storm will be available for purchase from 12pm (noon) onwards on October 29 via...

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Ahead Of Top Court Pollution Hearing, Executive Order For Permanent Body

President Ram Nath Kovind has signed an ordinance or executive order for the formation of a committee to look into the air quality management in Delhi and its adjoining areas. The ordinance comes...

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Bitcoin falls the most in a month following red-hot rally

By Casey Wagner and Vildana HajricBitcoin’s scorching rally lost steam on Wednesday amid widespread risk aversion, falling the most in a month.The world’s biggest cryptocurrency by market value slumped 3.1% to $13,201 as of 2:40 p.m. in New York. Alternative coins including Litecoin and Monero also posted declines, while the Bloomberg Galaxy Crypto Index dropped 3.7%.“This broad, risk-aversion-trading session is triggering widespread panic selling, which is seeing every risky asset, like gold and Bitcoin, really start to plummet,” said Edward Moya, a senior market analyst at Oanda Corp.78922985Wednesday’s high of $13,857 only narrowly exceeded Bitcoin’s most recent peak, set in June 2019. While some chartists say Bitcoin could be forming a bearish double-top pattern, it also could be taking a breather after its 14-day relative strength index reading passed 70, signifying the coin was overbought.“I think that $14,000 is a very key threshold,” said Moya. “Once that level is taken out, there is going to be a lot more upside here.”Before Wednesday’s pause, Bitcoin had gained roughly 15% since an announcement last week by PayPal Holdings Inc. that it will allow customers to use cryptocurrencies.But Bitcoin advocates say the coin’s decline may not be cause for concern. Many argue cryptocurrencies -- and Bitcoin in particular -- could eventually stand to benefit in an era of rampant central-bank money printing and the potential for an inflationary spike.“The way we see it, something unexpected has to reverse increasing adoption of Bitcoin as digital store-of-value such as gold, or the price has few options but to rise,” Mike McGlone, a strategist with Bloomberg Intelligence, wrote in a note.

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Why emerging markets are wary of a modern monetary fix

By Andy MukherjeeModern monetary theory is suddenly everywhere. The idea that a government that can freely print and spend its own currency shouldn’t deny anyone a job is gaining currency in our pandemic-ravaged world.Coming amid a sharp increase in public expenditure, Democratic presidential candidate Joe Biden’s $2 trillion clean energy plan shows a disregard for debt and deficits that was unimaginable after the 2008 subprime crisis.The theory that sovereign currency issuers can’t go broke is also at work in the U.K., in Chancellor of the Exchequer Rishi Sunak’s attempt at keeping the economy ticking — even if it means paying the private sector not to fire staff. Japan’s government, already the most indebted among major nations, is more than doubling its bond issuance to fund Covid-related expenditure. Orthodox scholars still occasionally murmur that all of this will somehow have to be paid for by future generations. But there’s nothing like the fear that gripped policy makers around 2010 when economists Carmen Reinhart and Kenneth Rogoff proposed that beyond a public debt to-GDP ratio of 90 per cent, long-run growth tends to swoon. However, this newfound confidence is seen only in relatively affluent societies. Move over to developing economies, and the conversation is much the same as before. When it comes to paying for a costly lockdown, helping people tide over the loss of livelihoods, or marshaling resources for publicly funded Covid-19 vaccination, the dominant question is, “Can we afford it?” Emerging markets have reasons to be wary of MMT. They don’t strictly meet its preconditions. While every country does print a legal tender and collects taxes in its own currency, not all can borrow in them. Nor can they allow their exchange rates to float freely, especially if they import vital commodities like food or energy. The degree of economic freedom enjoyed by the governments of the U.S., Japan, or the U.K. is simply not available in most places. Yet, individuals and businesses everywhere are expecting their governments will stop elevating the “needs of abstract ledger entries over the needs of flesh-and-blood human beings,” as Stephanie Kelton writes in her book, “The Deficit Myth.” For instance, New Delhi is finding it tough to explain to people why, with India’s economy expected to shrink by 10 per cent in real terms this year, it’s hesitant to boldly expand the budget deficit. The states are unhappy that the federal government is pushing them to borrow, rather than using its own unlimited power to print money. If MMT catches the fancy of the global working classes, emerging markets won’t have a choice. They’ll set out to assert whatever little financial freedom they have, ignoring debt and deficits. The question is, will the experiments succeed, or sink them in an Argentinian-style quagmire of hyperinflation, sovereign defaults and erosion in living standards?India, South Africa, Mexico and Brazil will all be plagued by large overcapacity well until 2023, according to the International Monetary Fund’s forecasts. This persistent slack appears to be partly due to a lack of what MMT refers to as “monetary sovereignty.” After all, among rich nations, Spain, Italy and France will also be operating far below potential as being part of the euro zone similarly crimps their financial freedom. So how to tackle the spare capacity? MMT scholars and activists like Denison University economist Fadhel Kaboub stress a “decentralized community-based job creation policy” with funding provided by a central fiscal authority acting in coordination with a central bank.In other words, deficit financing and money-printing.It’s hard to quarrel with MMT pioneer Warren Mosler’s argument that in any society, developed or developing, state-funded transitional jobs would be better than long-term unemployment, which destroys skills, connections and attitudes. But some proposals coming out of the MMT tent are audacious. One prescription for India pegs the first-year cost of putting 400 million people to work at $270 billion, or 10 per cent of pre-Covid gross domestic product. For now, the Indian rupee is stable because import demand has cratered more than exports. But trying to spend 10 per cent of GDP in one year on things like renewable energy, rainwater harvesting and wages could easily switch the currency market’s view. The rupee might collapse in anticipation of higher import demand for everything from Chinese solar panels to shirts made in Bangladesh.A sharp, one-time increase in government deficit, monetized by the central bank, is easy to sell to markets as a temporary measure to deal with Covid-related supply dislocation and demand funk. Indonesia has shown the way. Running such deficits permanently would butt heads with investors.For countries that pass the threshold conditions, MMT says the only real constraint on government spending is inflation. If it makes a sudden return, the theory recommends raising taxes and reducing deficit spending. The standard practice of raising interest rates is deemed to be inflationary. If that flies in the face of conventional wisdom, the more adventurous MMT advice of creating slack by putting curbs on polluting industries may work only for a handful of nations. I can’t see India or Indonesia shutting down coal-fired power plants to fight price escalations.Is modern monetary theory really for emerging markets? For now, they’re right to have reservations. But if the shock of the pandemic lingers and left-wing politics turn ascendant, there’s no telling where the MMT juggernaut will stop.

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6 Children Drown While Swimming In Stream In Andhra Pradesh

Six students lost their lives when they went for swimming in a stream near Vasantavada village in Velerupadu Mandal of West Godavari district.

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"Disgusting": Erdogan Vows Action Against Charlie Hebdo Cartoon On Him

Turkish President Recep Tayyip Erdogan vented his outrage Wednesday at a "disgusting" cartoon in the French satirical weekly Charlie Hebdo depicting him looking up a woman's skirt while drinking beer...

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Vote To Save Bihar From Becoming "Bimar": PM Modi

Prime Minister Narendra Modi on Wednesday said that just like the people of the state can save themselves from COVID-19 with a mask, similarly with a single vote they can save Bihar from becoming...

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Acer Launches Five Laptops With 11th Gen Intel Core Processors in India

The Acer Swift 3X was unveiled globally just a few days ago and it has now launched in the Indian market. Acer Swift 3X also integrates Intel Iris Xe MAX discrete graphics for better graphics...

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TCS splits cloud biz into 5 strategic units

Mumbai: Tata Consultancy Services (TCS) is doubling down on its Cloud services business, streamlining the practice into five strategic units to generate more revenue. The move, it hopes, will lead to “exponential growth” in the coming years. India’s largest software services exporter has focussed on growing its Cloud practice for the last seven years, but it has now assumed higher revenue priority than ever, said Krishnan Ramanujam, president of business and technology services, who oversees the practice. In terms of organisational changes, the Cloud practice has been split into five units — Amazon Web Services, Google, Azure, TCS’ own private cloud arm and a cloud consulting unit. Individual vice presidents will head each of the five units and be responsible for their revenue performance. “All these four individual business units will have their own shadow P&L…We are also launching a consulting offering, which is about cloud strategy and transformation,” Ramanujam told ET. 78919181TCS is looking to generate significant revenue growth from Cloud, he said. “If you look at very important goals that we can touch and feel, we obviously are looking for a very solid scaling and exponential growth in each one of the platforms, whether it is AWS, Google or Azure, or IBM,” Ramanujam said. The Cloud consulting unit will look at cross-functional and hybrid cloud business opportunities where TCS will apply its “contextual knowledge” in working with companies across various industries to build products and services for clients, according to him.

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सीमांचल में उद्योग बना शराब तस्करी, तीन गुना दाम चुकाने पर होम डिलीवरी

जेब में पैसे हैं तो होम डिलीवरी की भी सुविधा। बस कीमत बाजार मूल्य से तीन से चार गुना चुकानी होगी। साल 2016 में शराब बंदी के बाद बिहार और खासतौर से सीमांचल में यही स्थिति है। आपको बस एक फोन करने की जरूरत है।

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IPL 2020: बुमराह के बाद चमके सूर्य, RCB को मात देकर मुंबई प्लेऑफ में

चार बार की चैंपियन मुंबई इंडियंस बुधवार को आईपीएल-13 के प्लेऑफ में पहुंचने वाली पहली टीम बन गई।

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Frances Announces Second Lockdown To Combat Coronavirus

French President Emmanuel Macron announced Wednesday a new lockdown aimed at halting an alarming acceleration of Covid-19 cases, to take effect from Thursday night until "at least December 1."

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त्योहार शुरू होते ही बढ़ गया कोरोना का खतरा, लापरवाही के कारण बढ़ रहा संक्रमण

त्योहार शुरू होते ही राजधानी में एक बार फिर कोरोना संक्रमण बढ़ने का खतरा पनप गया है।

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High Protein Diet: This Methi-Paneer Paratha May Work Wonders To Manage Diabetes

Methi has an unusual amino acid has possible anti-diabetic qualities. Here's a delicious stuffed paratha that combines the goodness of methi and paneer!

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"No Space For Third Party": US Support For India Rattles China

China, in a sharp reaction to US Secretary of State Mike Pompeo expressing support for India's efforts to defend its sovereignty - a reference to the military stand-off in Ladakh - has stressed that...

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Priyanka Chopra Announces New Hollywood Film. Guess Her Co-Stars

"So excited to kick start this amazing movie with such incredible people!" wrote Priyanka Chopra while sharing the big news

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Economy to be among the fastest growing: FM

NEW DELHI: The Indian economy may contract or stagnate this fiscal but it will bounce back to be among the fastest growing in the world next year, Finance Minister Nirmala Sitharaman said.Demand revival and the government’s focus on infrastructure, agriculture and related sectors, along with support to sovereign funds and pension funds will drive economic growth, she said at the India Energy Forum by CERAweek. The highest level seen in manufacturing PMI since 2012 signalled revival, she said.“If that sustainable revival is going to happen between the third quarter and the fourth quarter, we expect that the overall GDP growth, notwithstanding the pandemic … even if it’s going to be negative or zero this time, the next year will be clearly India seeing itself as one of the fastest growing economies. So, we are looking at that kind of trajectory, and indicators show that the primary sector, related sectors or agriculture and rural India are all doing very well,” the FM said.‘Expect Demand to Go Up’Sitharaman said demand for durable goods, agricultural equipment, tractors, vehicles are all going up in India. “The festival season has commenced in India, as a result of which I expect the demand to go up, and therefore be sustainable also,” she said.Infrastructure spending is the government’s top priority, she said. The sector is attracting domestic and foreign funds, she added.The government is also focusing on creating infrastructure to support export of surplus grain and vegetables, she said.“Again, this is related to infrastructure, but making sure that India’s surplus foodgrains and vegetables are all going to be intact and fresh to be exported (with) the primary intention of making Indian agricultural exports on a very high trajectory,” the finance minister said.Sitharaman said India’s foreign direct investment between April and August had risen 13% compared to the previous year, despite the disruption caused by the pandemic. She said investors were attracted by various factors including low tax rates and automatic approvals for 95% of the economy.The government is also encouraging foreign funds. “Any of the sovereign funds which would want to come in for investments, are being given several taxation-related concessions. I recently met up one of the high commissioners from one of the countries whose funds are today looking to having the benefits given for other pension funds and sovereign funds. So, we are happily welcoming funds which want to benefit from that tax exemptions that we have given them.”The finance minister said investment in efficient and clean energy was another focus area of the government. These included the country’s ambitious plan to expand clean energy generation, incentives to produce ethanol from stored grains and incentives to use biomass to produce energy.The country is also looking at buying fields outside India to have a voice in price determination, she said. Opening up of the nuclear energy sector to private participation was another major step the government had taken, she said.

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बिहार चुनाव: मतदान के बीच चिराग का नीतीश पर हमला, कहा- राजद के साथ जाने की कर चुके हैं तैयारी

बिहार विधानसभा चुनाव के लिए पहल चरण का मतदान जारी है। इसी बीच लोक जनशक्ति पार्टी (लोजपा) के अध्यक्ष चिराग पासवान ने नीतीश कुमार पर निशाना साधा है।

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कोरोना वायरस वैक्सीन: स्वदेशी टीका 90 फीसदी से भी ज्यादा बना रहा एंटीबॉडी

कोरोना वायरस के टीके को लेकर बड़ी राहत मिली है। वायरस को आइसोलेट करने और गहन अध्ययन के बाद भारत में तैयार स्वदेशी टीका 90 फीसदी से भी ज्यादा एंटीबॉडी शरीर में बना रहा है।

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चुनावी रैली में ट्रंप का दावा, बेटे ने 15 मिनट में दी कोरोना वायरस को मात

अमेरिकी राष्ट्रपति डोनाल्ड ट्रंप ने एक रैली में दावा किया है कि उनके बेटे बैरन ने मात्र 15 मिनट में ही कोरोना वायरस को मात दे दी थी। पेंसिलवेनिया की एक रैली में डोनाल्ड ट्रंप ने यह दावा किया।

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US Self-Styled Guru, Guilty Of Leading Sex Cult, Jailed For 120 Years

A "self-help" guru convicted of running a cult-like organization of sex slaves who were branded with his initials was sentenced to 120 years in prison by a New York judge Tuesday.

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1st Generation Of Covid Vaccine "Likely To Be Imperfect": UK Taskforce

UK Vaccine Taskforce Chair Kate Bingham said on Tuesday that the first generation of COVID-19 vaccines "is likely to be imperfect" and that they "might not work for everyone".

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Can’t be complacent despite strong recovery: Sanjiv Mehta, Chairman HUL

Mumbai | New Delhi: Hindustan Unilever Ltd (HUL) chairman Sanjiv Mehta said the country’s biggest consumer goods company cannot “be complacent” despite a strong recovery in the last quarter and has shifted focus to “absolute profit” and volume share rather than just growing value and margins.“It could still be a marathon and there might be many air pockets before we can say that the pandemic is over,” Mehta said in an interview. “So, it is very clear that one doesn't want to be complacent and one doesn't want to declare victory at this time.”HUL’s performance is considered a proxy for broader consumer sentiment in India. It reported 16% growth in sales in the September quarter, helped by the acquisition of GSK Consumer. Excluding the integration, revenue rose 3%, boosted by the relaxation of curbs on manufacturing and distribution. That's a sharp recovery from a 7% decline in sales for the April-June period.HUL Volumes up 1%The maker of Rin detergent and Dove shampoo also saw volume rise 1% during the period, against a 7% decline over the past two quarters. Volume indicates the number of products that customers put in their shopping carts.“During normal situations, our primary focus is on value share,” he said. “But there is very clear evidence from past crises that if you strengthen your volume shares, you get more consumers entering your franchise, and that translates into higher value shares in the period to come. Earlier, because we are a healthy business, we always used to look at percentage margins. Now, it is not just about margin but also about absolute profit.”The company gained volume share in about 90% of the business, he said.Analysts said HUL’s new push could be driven by its strategy to gain consumers in its core categories in the downturn and further widen its competitive lead over peers. However, margins are already under pressure.“HUL’s reported gross margin fell 150 basis points year-on-year but the compression is even steeper if one looks at the combined financials,” said a recent JM Financial report. “Adding GSK’s financials for second quarter last year to HUL’s, the combined gross margin for the merged business seems to have compressed 320 bps.” A basis point is one-hundredth of a percentage point.Health, hygiene and nutrition now account for 80% of its portfolio and expanded 10% but the remaining business--mainly beauty and personal care, not considered essentials, as well as out-of-home segments such as vending and ice-cream retail--fell 25% each. The company said that 80% of the portfolio that expanded in double digits is many times bigger than that of any other fastmoving consumer goods (FMCG) company in India.The slowdown was largely due to people being confined to living quarters, especially in urban areas, which could see a recovery as restrictions are progressively eased and economic activities get back on track. .“We would want the demand and volumes to go back to pre-Covid levels and many of the categories have reached there,” said Mehta. “The very fact that rural has bounced back is a good sign. The steps that the government has taken, whether it is a direct transfer of money or improving MSP rate or MGNREGA , helped bolster the income in the hands of rural consumers, and consequently, it gave a fillip to consumption.”

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BigBasket in talks to sell majority stake to Tata Group

India’s largest e-grocer BigBasket is in advanced negotiations with the Tata Group to divest a majority stake in favour of the salt-to-software services conglomerate, according to three people in the know. The proposed deal, which is still evolving, could see the Bengaluru-based company sell around 50% stake for about $1 billion, the sources said.China's internet giant Alibaba, which holds around 26% stake in BigBasket, is expected to sell its entire shareholding in the company along with a group of early backers, said another person who did not want to be identified. Other investors in the e-grocery company include Ascent Capital, CDC Group and the Abraaj Group.“While the talks have been ongoing for some time, it is still work-in-progress as far as the specifics go. It may eventually not lead to a transaction at all,” said one of the people cited above.Tata Group executives, privy to the discussions, said the conglomerate is likely to execute the deal through its digital arm — Tata Digital — and that (the investment in BigBasket) "is just step one of several other similar tieups and collaborations that the group is looking to strike (in order) to scale its digital presence". ET had earlier reported that the Tata Group has held talks with BigBasket as well as ecommerce companies Snapdeal and IndiaMart.Read: Tata Group evaluates M&A opportunities to scale up ecomm play "This is not an easy deal to pull off with so many investors involved… but there should be some finality to the talks in a couple of weeks," the sources said.Tata Sons did not comment on ET’s query. Emailed questions sent on Monday to Hari Menon, cofounder and CEO of BigBasket, as well as to a spokesperson for Alibaba did not elicit a response.Separately, BigBasket has also held discussions, sources said, to rope in a bunch of new investors like Singapore's Temasek, US-based Generation Investment Management, Fidelity and Tybourne Capital, for a $350-400 million financing round. The fundraising process, which began earlier this year, coincided with Reliance Industries announcing its intent to push grocery ecommerce through JioMart.Amazon and Flipkart are the other two deep-pocketed competitors in the grocery segment, which has recorded exponential growth during the pandemic-induced lockdowns. 78902628A Tata Group executive speaking to ET on the condition of anonymity said the conglomerate is looking to acquire internet companies as "scalability of business through a combination of online and offline is seen as critical for future growth"."Currently, none of the group's (Tata Group’s) retail businesses have that depth of scale in the ecommerce space," the person said.Read: Groceries to kick off Diwali online battleIn recent times, Tata Sons has also committed significant capital to its retail arms such as Trent, which operates Westside and Landmark, a bookstore chain, as well as Infiniti Retail, a subsidiary of the Tata Group that runs Croma stores.The Covid-19 led lockdown has helped players like BigBasket shore up order volumes amid a significant shift towards online shopping. At the start of the lockdown in April, BigBasket fulfilled 160,000 orders daily but its base of consumers has steadily grown since then, with the retailer clocking Rs 750-900 crore in monthly sales. The company is expected to close this fiscal year with about Rs 9,000 crore in gross sales.

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Home, vehicle and rural loans top pre-Covid levels

Mumbai: Home, vehicle and rural loans are helping banks and non-bank lenders spare their blushes even as they remain risk-averse to unsecured and wholesale credit.Most banks and non-banking finance companies saw their home, vehicle and farm loans surpassing pre-Covid levels in the quarter ended September while the overall credit book shrunk for some lenders.The Reserve Bank of India’s data recorded till the end of August showed that mortgage loans grew 11 per cent over last year while vehicle loans rose 8.5 per cent and agri loans grew nearly 6 per cent. Overall credit to the industrial sector grew 0.5 per cent over last year even at the time when overall credit to the system recorded multi-decade low levels of 6 per cent.“Parts of the retail book have come back to normal,” said Dipak Gupta, joint managing director at Kotak Mahindra Bank. “Non-urban segments on the rural side and mortgages are doing well, but we are being cautious on retail unsecured lending and MSME (micro, small and medium enterprises) segment. At this point, the risk-return opportunity does not justify for us to press the accelerator on lending,” he said.Kotak Mahindra Bank continued with its conservative stance and saw its advances degrow by 4 per cent year on year to Rs 2.04 lakh crore at the end of September. Its mortgage book grew by nearly 5 per cent during the same period.Non-bank lender L&T Financial Services recorded its best monthly disbursements in the rural business, which grew 59 per cent over last year and also witnessed a strong pick up in infrastructure disbursements.“We are focusing on strengthening the balance sheet and creating good quality assets; while the overall book may have grown by 1 per cent, the good book has grown significantly, which bodes well for profitability in the coming quarters,” company managing director Dinanath Dubhashi said. “We have stopped lending to the real estate sector and that stance is likely to continue for some time,” he said.M&M Finance, too, said it has seen a healthy pick up in its tractors, passenger cars and light commercial vehicle segments as the rural market remained sufficiently insulated from Covid-19.Mortgage loans grew across banks and NBFCs with borrowers looking to buy homes as property prices softened across the country. Shriram Housing Finance surpassed its pre-Covid performance and recorded a 20 per cent AUM growth in its home loan portfolio over last year.“This quarter, in terms of home loan disbursals, has been the largest ever,” said Ravi Subramanian, MD, Shriram Housing Finance. “In the pandemic, people have realised the value of a home and a bigger home. In fact, softer real estate prices, (and) incentives like the waiver of stamp duty are aiding the growth of this segment, and I see normalcy returning to the system.”Mortgage loan sales have also been aided by historic low levels of interest rates and concessions offered by lenders to lure buyers. Large banks and non-banks are lending at never seen before rates of 6.7 per cent to 7.2 per cent to buyers with good credit score. SBI, HDFC, ICICI Bank, Axis Bank and LIC Housing Finance have seen market share shift to them, industry insiders said.“This is a unique phase where property prices are low and interest rates are low, so people with stable jobs have taken the plunge to buy a home,” said Mahesh Misra, CEO of India Mortgage Guarantee Company (IMGC) that has guaranteed loans worth Rs 8,500 crore.

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Will Nitish Kumar Get A Fourth Term? Voting Begins In Bihar

The three-phase election in Bihar that would decide if Nitish Kumar gets a fourth term as the Chief Minister, began this morning with voting on 71 of the state's 243 seats. His challenger is RJD's...

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"Donald Is A Fighter": Melania Trump Hits Campaign Trail For Her Husband

First Lady Melania Trump on Tuesday hit the campaign trail for her president husband for the first time on her own this year, praising him as a "fighter" and offering support to pandemic victims.

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How Union Bank got caught in HDIL-DE Shaw showdown

Mumbai: Union Bank of India (UBI), one of the largest state-owned lenders, is caught in the crossfire between the promoters of HDIL and an arm of DE Shaw, their overseas business partner, which has alleged that the Wadhawans have diverted funds from the joint venture company.The global investment fund DE Shaw, according to a court petition filed in August against Wadhawans and UBI, has “halted all fresh investments in India after the discovery of this fraud”.The JV company has been deprived of the money from the sale of a property to UBI as the proceeds were supposedly misused by the Wadhawans to repay a loan taken by an HDIL subsidiary from UBI.The petitioner, Ocean Deity Investment Holdings — an investment company in Mauritius and an affiliate of DE Shaw — has alleged that the entire purchase consideration was siphoned off from Mack Star, the JV entity, by the Wadhawans, transferred to HDIL, and “immediately routed back by HDIL to UBI” to repay the bank a loan taken by Guruashish Construction, an HDIL subsidiary. Wadhwans, said the petitioner, had colluded with UBI to carry out the transaction.Responding to queries from ET, UBI chief general manager Ashok Chandra said, “Based on the requirement of office space, the bank had purchased the said property for its own use after following the due procedure applicable to a sale-purchase transaction by a PSU bank, and complied with all processes as per the policy of the bank. This is absolutely a bona fide transaction. Hence, the bank has an excellent case to defend the said transaction before the court of law. We reserve our rights to defend the same appropriately and defend the transaction challenged by M/s Mack Star Marketing Pvt Ltd. pending before the High Court of Bombay.” On behalf of Rakesh and Sarang Wadhawan — among the defendants in the petition — Zulfiquar Memon of MZM Legal, said, “The matter is sub judice and as such we refrain from commenting on the same. Any and all allegations against our Clients in the said suit are denied and will be contested appropriately.”In January 2016 Mack Star — the JV in which Ocean Deity owns 78.09 per cent while the balance is owned by Wadhawans and HDIL group entities — sold a unit in ‘Kaledonia’, the commercial building developed by Mack Star, for Rs 19.08 crore. The DE Shaw arm had invested Rs 1,000 crore in Mack Star, of which Rs 900 crore was used to acquire development rights of the land in Mumbai’s Andheri East suburb and Rs 100 crore was spent in construction. Despite its predominant holding, the foreign partner had left the day to day running of the company to Wadhawans due to their understanding of the real estate industry. 78901001According to the foreign investor, the nature of the transaction, which with was in violation of Mack Star’s articles of association, was not understood immediately — partly because of the accounting policy followed by the Mack Star auditor (who was arrested in 2019 by the Mumbai police after the collapse of the PMC Bank which had lent heavily to HDIL group companies). Alleging that UBI was a “willing participant” in the irregular property transaction, the petitioner has prayed before the Court that the sale agreement between Mack Star should be declared null and void, the unit sold should be passed on to a court receive, and UBI should be restrained from selling or transferring the property.

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