Author: Sarita Jena

  • Sebi Cancels Trafiksol IPO: Investors to Get Full Refunds Soon!

    Sebi Cancels Trafiksol IPO: Investors to Get Full Refunds Soon!

    The Securities and Exchange Board of India (Sebi), the country’s market watchdog, has cancelled the IPO (Initial Public Offering) of a company called Trafiksol ITS Technologies. This decision came after the Bombay Stock Exchange (BSE) had paused the IPO for further investigation.

    Sebi ordered Trafiksol to return the money to investors who bought shares in their IPO. They also instructed the BSE to help with the refund, which must be completed within a week. Once the refunds are done, the company must cancel any shares that were issued.

    Trafiksol ITS is based in Noida and specializes in smart transport systems to manage traffic and tolls.

    Here’s a quick background on the IPO: Trafiksol wanted to raise money through an IPO by offering 6.41 million shares priced between Rs 66 and Rs 70 each. The IPO had been set to run from September 10 to September 12 and was very popular, with investors wanting 345 times more shares than were available. Shares were supposed to start trading on September 17.

  • Today’s Top NSE Trades: Winners and Losers Revealed!

    Today’s Top NSE Trades: Winners and Losers Revealed!

    NEW DELHI: Today, several companies saw a lot of activity on the National Stock Exchange (NSE). The highest trades were from HDFC Bank (Rs. 3966.07 crore), Reliance Industries (RIL) (Rs. 2227.92 crore), Adani Ports SEZ (Rs. 2144.71 crore), Mazagon Dock Ship (Rs. 1610.73 crore), and ICICI Bank (Rs. 1504.13 crore). Other notable companies included Bharti Airtel (Rs. 1481.77 crore), Indegene (Rs. 1452.61 crore), L&T (Rs. 1223.42 crore), Granules India (Rs. 1095.96 crore), and ITC (Rs. 1042.13 crore).

    The NSE Nifty index, which shows how well stocks are doing, went up by 181.11 points, finishing at 24457.15. Similarly, the BSE Sensex, another index, climbed 597.67 points to reach 80845.75. Some of the biggest winners in the Nifty index included Adani Ports (up 6.00%), NTPC (up 2.59%), Adani Enterprises (up 2.33%), L&T (up 2.25%), and State Bank of India (up 2.10%).

    On the flip side, some stocks faced losses. Bharti Airtel dropped by 1.41%, Hero MotoCorp fell by 1.09%, ITC decreased by 0.98%, HDFC Life Insurance fell by 0.97%, and Sun Pharmaceutical lost 0.47%.

  • Debarghya Das Critiques India’s Growing Air Quality Health Crisis

    Debarghya Das Critiques India’s Growing Air Quality Health Crisis

    Debarghya “Deedy” Das, a venture capitalist of Indian origin, has sparked a big conversation about the dangerous air quality in India. He says it’s a serious health problem that many people seem to ignore. Currently living in San Francisco, Das took to social media to share his experiences, which resonated with many people but also got some criticism.

    Feeling the Air Quality Crisis Firsthand

    Das, who used to live in Kolkata and moved to the U.S. for college, talked about how he feels whenever he visits India. He said, “Every time I’m in India, my eyes water, I sneeze a lot, and I see many people coughing.” His parents think these symptoms are just allergies, but they go away when they visit him in the U.S.

    During a recent wedding in Delhi, Das spoke with guests from the U.S. who were shocked by how bad the air quality was. At first, they were polite, but then they expressed their concern about the air being unsafe, even for simple things like exercising outdoors.

    Air Quality Issues Go Beyond Delhi

    Even though Delhi is famous for its pollution problems, Das pointed out that bad air quality is not just a problem there. He said, “The idea that only winter in Delhi is bad is silly. Even Bangalore, which is seen as cleaner, has people coughing and dealing with allergies. I lived there for a year and know it’s true.”

    Das believes that it’s not a show of strength to tolerate bad air. He argued that “surviving tough environments is not something we should brag about. It’s a problem that needs our attention.”

    Mixed Reactions Online

    Many non-resident Indians (NRIs) and people from India agreed with Das’s points, seeing them as important. But some didn’t like what he said and felt he was exaggerating. Others thought he was just weak. Despite the mixed feedback, his original post gained over 1.9 million views, 28,000 likes, and more than 1,000 comments.

    The discussion sparked by Das’s comments shines a light on an important issue that affects millions all over India. While some dismissed his worries, many viewed his remarks as a call to action on environmental problems that threaten public health.

    Das reminds us that air quality isn’t just about how comfortable we are; it’s about keeping the health of everyone in the country safe. As he put it, “We live in denial of a serious health crisis.”

  • Priyanka Gandhi Demands Aid for Wayanad Landslide Victims

    Priyanka Gandhi Demands Aid for Wayanad Landslide Victims

    On Tuesday, Congress MP Priyanka Gandhi Vadra spoke out about the landslides that hit Wayanad in Kerala. She asked the government to help the people affected by the disaster and wanted to know what plans they had for recovery. The landslides, which happened on July 30, damaged three villages: Punchirimattam, Chooralmala, and Mundakkai, along with parts of Attamala. According to the government, this terrible event led to the loss of 231 lives.

    Outside Parliament, Priyanka Gandhi told reporters, “People of Wayanad are not getting enough financial help. They have received very little support.” She also asked about the government’s action plan for the area. Recently, Priyanka Gandhi won the Wayanad Lok Sabha by-election by over 4.1 lakh votes, outperforming her brother, Rahul Gandhi.

  • BSE Stocks Surge: See Which Ones Rose Over 10% Today!

    BSE Stocks Surge: See Which Ones Rose Over 10% Today!

    NEW DELHI:  On Tuesday, many stocks on the Bombay Stock Exchange (BSE) jumped more than 10% as Indian stock markets rose. Some of the biggest winners included: Kanpur Plastip (up 14.86%), Dharamsi Morarji (up 14.15%), HEG (up 13.84%), Bajaj Steel (up 13.47%), Indbank Merchant Banking (up 12.52%), Orient Press (up 12.35%), Fermenta Biotech (up 11.84%), Vadilal Enterprises (up 11.68%), Remi Edelstahl (up 11.58%), and Banaras Beads (up 11.27%).

    The Sensex, which is a group of 30 important stocks, rose by 597.67 points to close at 80,845.75. The Nifty index, made up of 50 stocks, went up by 181.11 points to finish at 24,457.15. Out of the 50 stocks in the Nifty, 41 ended higher while 9 fell.

    Additionally, some stocks like BSL Ltd, Enviro Infra Engineer, Thirani Projects, Dharamsi Morarji, and Fermenta Biotech reached their best prices in 52 weeks. On the other hand, stocks such as Aki India, C.E. Info Systems, Nettlinx Ltd, MSR India, and Dhanvarsha Finvest hit their lowest prices in 52 weeks during today’s trading session.

  • Rachit Prints Targets Rs 100 Crore Revenue and Plans IPO for Expansion

    Rachit Prints Targets Rs 100 Crore Revenue and Plans IPO for Expansion

    Rachit Prints, a company that makes special fabrics for mattresses, announced on Tuesday that it wants to grow its earnings to ₹100 crore by 2026-27. Right now, the company made ₹37.08 crore during the 2023-24 financial year. Based in Meerut, Uttar Pradesh, Rachit Prints creates unique fabrics for mattresses, including knitted and printed varieties. To help fund its growth, the company plans to launch an initial public offering (IPO) and has chosen Khambatta Securities to lead the process.

    Promoter and Managing Director Anupam Kansal expressed confidence in their goal, stating, “We are excited about expanding our operations and aim to reach ₹100 crore by 2026-27.” Rachit Prints operates a large 30,625 square foot manufacturing facility in Meerut that is equipped with advanced machinery from India and abroad. In the first quarter of this financial year, which ended in June 2024, the company earned ₹9.8 crore, with a profit of ₹1.02 crore.

  • Join the Exciting South Asia Agri Summit 2025 in Sri Lanka!

    Join the Exciting South Asia Agri Summit 2025 in Sri Lanka!

    Bharat Subcontinental Agri Foundation (BSAF) is gearing up for an exciting event called the South Asia Agri Summit. This important gathering will take place on January 15-16, 2025, at the Shangri-La Hotel in Colombo, Sri Lanka. The summit will focus on the changing landscape of pulses, grains, dry fruits, and spices in South Asia.

    Many important people and companies will attend, including the National Agricultural Cooperative Marketing Federation of India (NAFED), Wheat Products Promotion Society (WPPS), and various flour mill associations from India.

    The agricultural sector in South Asia is growing fast because people want more food, and there is a chance to sell products abroad. This summit is a great opportunity for exporters to learn about new market trends, rules, and technology. They’ll also get to meet industry leaders, government officials, and potential partners, which can help them form valuable business connections.

    The event will feature expert discussions, trade exhibitions, and B2B meetings. These sessions will tackle important issues and explore opportunities in the agri-commodity trade. Exporters can use this chance to better understand trade in the region and find good opportunities for their products.

    “Joining the South Asia Agri Forum can help you reach more customers and put your business at the forefront of agri-commodity trade in the region,” said Vivek Agarwal, Managing Director of BSAF. The last summit took place in Bangkok, Thailand, while the one before that was in Kathmandu, Nepal. The Thailand event welcomed over 1,000 attendees from nearly 50 different countries.

  • Indian Rupee Falls to Record Low as Dollar Strengthens

    Indian Rupee Falls to Record Low as Dollar Strengthens

    The Indian rupee fell to its lowest level ever on Tuesday, mainly because the US dollar got stronger and the Chinese yuan also dropped. The rupee reached a low of 84.7575 before it slightly recovered, closing the day at 84.6850. A trader from a government bank said that the rupee bounced back a little as demand for dollars decreased and the yuan stopped losing value.

    Earlier in the day, the rupee was able to prevent bigger losses thanks to the Reserve Bank of India’s actions in the money market. The RBI sold dollars to help the rupee and made trades to balance out the dollars in the market.

    Due to these actions, the prices for dollar-rupee futures went down significantly. The expected return on a one-year dollar investment also dropped below 2% for the first time since August. Worries about India’s slowing economy, a steady flow of money leaving the country, and the weakness of the yuan have kept pressure on the rupee. India’s GDP growth in September fell to the lowest level in a while, which means the RBI might cut interest rates sooner than we thought, while money leaving the stock market is expected to continue, weakening the rupee further.

    After many years of stability, it seems like the Reserve Bank of India has loosened its grip on the rupee, according to analysts from ING Bank. The expected ups and downs of the rupee have increased, with the one-month forecast volatility reaching its highest point in six months at 3% on Tuesday. Lastly, the dollar index was slightly lower at 106.2 after rising 0.5% on Monday, while currencies from other Asian countries were mixed.

  • Market Valuations Explained: What’s Next for Your Investments?”

    Market Valuations Explained: What’s Next for Your Investments?”

    Sanjeev Prasad, a top expert from Kotak Institutional Equities, believes that the stock market hasn’t really corrected itself, despite recent drops. He notes that many stocks are currently priced fairly high, with not much chance of significant increase. For many companies, their market price is about four times their actual book value, meaning they might be overpriced. Prasad explains that while some shares have gone down in price, the overall market is still making things complicated due to companies with unclear values, especially in sectors like consumer goods, cars, and construction.

    Some industries, like hotels, are doing well, while others are struggling. For example, hospitality companies are seeing strong occupancy rates, but sales in food delivery services and quick shopping are also growing. However, he is cautious about certain industries, like cement and chemicals, stating that their high prices don’t match their actual earnings.

    He also thinks that even though the Indian economy is growing, many companies are making too much profit, and this could lead to lower profits in the future due to more competition and changing market dynamics. While government spending is expected to increase in the future, it might not be enough to significantly change how prices behave due to the high valuations that many companies hold. People in the market are likely reacting to news without focusing on real value or earnings.

  • Delhi’s Pollution Challenge: CNG Solutions and Supreme Court Actions

    Delhi’s Pollution Challenge: CNG Solutions and Supreme Court Actions

    As Delhi faces serious air pollution issues, Transport Minister Nitin Gadkari has suggested a big change to help improve the situation: switching completely to CNG-powered vehicles. He believes using cleaner options like biofuels and electric vehicles is important for a greener future and making India self-sufficient.

    Recently, Delhi was covered in thick smog, and the air quality was reported as ‘poor.’ According to data from the Central Pollution Control Board (CPCB), the air quality index (AQI) was at 274 this morning.

    Pictures from places like Akshardham Temple and ITO show the smog affecting visibility. At 8 am, the AQI readings in various locations revealed serious pollution. For example, Anand Vihar had an AQI of 294, ITO was at 235, IGI Airport (T3) was at 256, and places like Chandni Chowk and Jawaharlal Nehru Stadium both had AQIs of 250. Any AQI over 200 is considered poor.

    Earlier today, the Supreme Court rejected a request to relax strict measures aimed at fighting pollution in Delhi and plans to discuss this further in the next hearing. A bench of justices noted that none of the surrounding states—Delhi, Rajasthan, Haryana, and Uttar Pradesh—followed orders to pay compensation to construction workers. They will also call the Chief Secretaries of these states to join the next virtual meeting.

    The Supreme Court made it clear that any easing of rules will only happen if air quality starts improving. They will address this topic on Thursday. The court was not impressed with suggestions to relax pollution measures, stating that the AQI is still unstable.

    The SC has instructed the Commission on Air Quality Management (CAQM) to better communicate what needs to be done to combat pollution, and they emphasized the need for coordination among different agencies like the MCD, Delhi Police, and other environmental groups. The SC also ordered that court commissioners be provided proper protection while carrying out their duties