Author: Sarita Jena

  • PM Modi’s First Podcast: Learn About Politics and Life Lessons

    PM Modi’s First Podcast: Learn About Politics and Life Lessons

    Prime Minister Narendra Modi has just released his first podcast, and it was shared by Nikhil Kamath, the co-founder of Zerodha, on a Friday afternoon. In the podcast, Modi talked about how mistakes can happen to anyone, reminding us that even he makes mistakes. He wants good people to join politics with the right intentions, focusing on their mission rather than their personal success.

    During their conversation, Modi and Kamath chatted about many topics like global conflicts and the importance of youth getting involved in politics. Modi reflected on his earlier time as the chief minister of Gujarat. He mentioned a moment when he spoke without thinking and acknowledged that he’s just a regular person, not a god.

    He also shared a fun memory from his early days: when he became chief minister, his first wish was to invite all his school friends to his house. He even commented on his childhood, saying he used to wash all his family’s clothes, which was the reason he could go to the pond.

  • BEL Recruitment 2025: Apply for 350 Probationary Engineer Jobs Now!

    BEL Recruitment 2025: Apply for 350 Probationary Engineer Jobs Now!

    Bharat Electronics Limited (BEL) has opened up applications for Probationary Engineer positions. If you’re interested, you can apply online at the BEL website: bel-india.in. This job recruitment will fill 350 positions in total.

    Important Dates:
    – Application Start Date: January 10, 2025
    – Application End Date: January 31, 2025

    Job Positions Available:
    – Electronics Engineer (E-II Grade): 200 openings
    – Mechanical Engineer (E-II Grade): 150 openings

    Who Can Apply?
    You can apply if you have a bachelor’s degree (B.E/B.Tech/B.Sc Engineering) in one of these areas:
    – Electronics
    – Electronics and Communication
    – Electronics & Telecommunication
    – Communication
    – Telecommunication
    – Mechanical

    Age Limit:
    To qualify, candidates who are Unreserved (UR), Other Backward Classes (OBC), or Economically Weaker Sections (EWS) should be 25 years old or younger as of January 1, 2025.

    How to Get Selected:
    There are two parts to the selection process:
    1. A computer-based test
    2. An interview

    To pass, General/OBC/EWS candidates must score at least 35%, while SC/ST/PwBD candidates need 30%.

    Application Fee:
    – General/EWS/OBC candidates need to pay ₹1180.
    – SC/ST/PwBD candidates do not have to pay any fee.

    Remember, once you pay the application fee, you cannot get it back. If UR/EWS/OBC candidates do not pay the fee, their applications will be rejected.

    For more details, check the official website of BEL.

    Apply Now and Don’t Miss Out!

  • American Woman Fired for Racist Joke About Indian Uber Drivers

    American Woman Fired for Racist Joke About Indian Uber Drivers

    An American woman named Han says she lost her job because of a joke she made about Indian Uber drivers on social media. Han posted a funny selfie that showed her happy and another where she looked sad. She wrote, “When the Uber says it’s on the way vs when it says it’s an Indian male driver.” This post was seen by over 9 million people on X, and many people called her racist.

    After her joke went viral, personal information about Han was shared online, causing her and her family to be harassed. Recently, Han shared an update saying she was fired from her job. She did not say where she worked, but mentioned she was a waitress.

    In a post on X, Han expressed her disbelief: “I guess doxxing me and harassing my family wasn’t enough. I just got fired over a dumb joke! Is this the part where I get famous and go on podcasts?” Some people in the comments suggested she reach out to X for help, as Elon Musk had once promised to support those unfairly fired for their tweets. Han, who goes by @hannaahhn on X, said she plans to talk to X about her situation.

  • Controversy: L&T Chief’s Shocking 90-Hour Work Week Call Sparks Backlash

    Controversy: L&T Chief’s Shocking 90-Hour Work Week Call Sparks Backlash

    On Friday, Priyanka Chaturvedi, an MP from Shiv Sena (UBT), criticized the chairman of Larsen and Toubro (L&T), SN Subrahmanyan, for suggesting that employees should work 90 hours a week. Chaturvedi said his remarks sounded like he wanted to create “modern-day slave drivers” in India.

    In a video that was shared online, Subrahmanyan said, “I regret I cannot make you work on Sundays. If I could make you work on Sundays, I would be happy because I work on Sundays.” He also questioned how long people could stay at home with their families, saying, “Come on, get to the office and start working.”

    L&T later issued a statement saying Subrahmanyan’s comments were about needing “extraordinary efforts” to help India become a developed nation. They believe that this is an important time for growth and dedication.

    Many people were not happy with Subrahmanyan’s comments. Actor Deepika Padukone responded by saying, “And they just made it worse.” Infosys co-founder Narayan Murthy also suggested several months ago that people in India should consider working 70 hours a week, claiming that India’s productivity is very low.

  • LA Wildfires: 5 Dead and Thousands Evacuated as Fires Rage On

    LA Wildfires: 5 Dead and Thousands Evacuated as Fires Rage On

    Wildfires in Los Angeles have gotten out of control, killing at least five people and forcing 130,000 others to evacuate their homes. The fires have burned for three days, destroying entire neighborhoods and causing serious damage to many important places.

    One area that suffered a lot is Pacific Palisades, a wealthy neighborhood famous for being mentioned in the Beach Boys’ song “Surfin’ USA.” Here are some of the notable places affected by the fires:

    – Palisades Charter High School: About 30% of the school was damaged, especially the athletic facilities. Luckily, the school was on winter break, so its 3,000 students were safe.

    – Theater Palisades, Pierson Playhouse: This popular theater, started by three TV writers, was heavily damaged, and they had to stop all performances.

    – Will Rogers’ Ranch House: This historic home was once owned by famous actor Will Rogers and has now been destroyed. It was a popular state park known for its history and beauty.

    – Topanga Ranch Motel: Built in 1929, this motel was a favorite spot for visitors but was destroyed in the fire.

    – The Bunny Museum: Known for its collection of rabbit-themed items, this museum burned down completely. The staff sadly shared this news on Facebook.

    – Reel Inn Malibu: This seafood restaurant, famous for serving locals and celebrities, also lost its building to the flames after 36 years in business.

    – Pasadena Jewish Temple & Center: Thankfully, the Torah scrolls were saved before the historic synagogue caught fire.

    The people present during the wildfire have lost much, and those affected are in our thoughts during this tough time.

  • MphasiS: Key Insights and Future Projections for Investors

    MphasiS: Key Insights and Future Projections for Investors

    BNP Paribas Securities has a mixed view on MphasiS, a company in the IT Software sector, with a target price of Rs 2,900. Currently, MphasiS shares are priced at Rs 2,927.05. The company, started in 1992, is a mid-sized firm worth Rs 54,917.92 crore.

    For the quarter ending September 30, 2024, MphasiS made Rs 3,594.90 crore in total income. This is an increase of 2.83% from the previous quarter and 8.10% more than the same time last year, when total income was Rs 3,325.54 crore. The company’s net profit after tax for this latest quarter was Rs 423.33 crore.

    The management team includes notable members like Nitin Rakesh and others. B S R & Co. LLP audits the company. As of September 30, 2024, there are 19 crore shares of MphasiS available.

    Reason for Caution:
    MphasiS has been significantly affected by rising interest rates due to its involvement in the mortgage business. While the management has managed to limit the negative impact on revenue growth, MphasiS hasn’t performed as well as its mid-sized competitors in this area. Recovery in tech spending by U.S. banking and financial services customers is crucial for the company’s growth.

    BNP Paribas is cautious because the mortgage business isn’t showing signs of recovery in the near future. They believe MphasiS may be overvalued compared to the CNX IT Index without strong growth from the U.S. mortgage sector.

    Valuation Insights:
    BNP Paribas uses a Discounted Cash Flow (DCF) method to value MphasiS. They expect a 10% revenue growth by 2024, a Weighted Average Cost of Capital (WACC) of 11%, and a terminal growth rate of 5%.

    Ownership Details:
    As of September 30, 2024, the promoters own 40.32% of MphasiS, foreign institutional investors (FIIs) hold 18.25%, and domestic institutional investors (DIIs) possess 36.54%.

  • IREDA Q3FY25: Net Profit Rises 27% Amid Record Revenue Growth!

    IREDA Q3FY25: Net Profit Rises 27% Amid Record Revenue Growth!

    The Indian Renewable Energy Development Agency (IREDA) is in the spotlight after announcing a 27% increase in its profit for the December quarter. The profit reached ₹425.38 crore, compared to ₹335.53 crore from the same time last year.

    In the third quarter of FY25 (Q3FY25), IREDA’s total revenue from its operations jumped by 35.6% from a year ago, reaching ₹1,698.45 crore, up from ₹1,252.85 crore in Q3FY24. Compared to the previous quarter, the profit (PAT) grew by 10%, going from ₹387.75 crore in Q2FY25 to the current ₹425.38 crore. The total revenue also saw a 4.2% increase from ₹1,629.56 crore in the prior quarter.

    Revenue Breakdown for Q3FY25

    In the October-December quarter, IREDA earned ₹1,654.45 crore from interest income, up from ₹1,577.05 crore in Q2FY25 and ₹1,208.10 crore in Q3FY24. However, it earned ₹16.46 crore from fees and commissions, which was lower than previous quarters.

    Other notable income grew significantly, with total other income in Q3FY25 at ₹30.93 crore, a rise from ₹9.53 crore in Q2FY25 and ₹16.69 crore in Q3FY24.

    IREDA’s Expenses

    The company spent ₹1,160.78 crore in the December quarter, which is lower than the previous quarter (₹1,170.48 crore) but higher than last year’s ₹867.06 crore. This amount includes costs for loan interest, employee salaries, and other expenses.

    Debt and Asset Quality

    As of December 31, 2024, IREDA’s debt-to-equity ratio increased to 5.89 from 5.13 a year earlier. Its asset quality is also worth noting; the Gross Non-Performing Assets (NPAs) rose to ₹1,845 crore but dropped as a percentage of total advances to 2.68%, down from 2.90% last year.

    Outstanding Loans and Stock Performance

    IREDA’s outstanding loans reached ₹68,960 crore, up by 36% from ₹50,580 crore last year.

    For stock market fans, IREDA’s share price closed at ₹215.9, down 3.3%. Although the stock has dipped 10% over the past six months, it gained a whopping 109% over the last year. The average target price for IREDA shares is ₹205, which suggests it might drop by about 5% from where it currently stands. The consensus from analysts is to ‘Hold’ on to the stocks.

  • Dunzo’s Downfall: A Look at Its Struggles and Challenges Explained

    Dunzo’s Downfall: A Look at Its Struggles and Challenges Explained

    In January 2022, Dunzo seemed unstoppable after raising $240 million, mostly from Reliance Retail. They promised to deliver groceries to many people in India in just 15 minutes. Fast forward to now, and the last founder, Kabeer Biswas, has left Dunzo, marking a big change for a company that led India’s fast delivery movement.

    The Trouble Starts

    After raising a lot of money in 2022, Dunzo expanded quickly, focusing on their 15-20 minute grocery delivery service called Dunzo Daily. Unfortunately, this led to high expenses of over Rs 100 crore every month. They spent heavily on marketing and IPL sponsorships, which increased business but burned a lot of cash. Despite trying to grow, people still saw Dunzo mostly as a delivery service and not as a quick grocery provider.

    As their money ran low and getting new funds became hard, they changed their delivery time promise from 15 minutes to 60 minutes to save costs. By mid-2023, the investment environment in India had worsened, and things got tough for Dunzo.

    Failed Deals and Mergers

    A potential investment from PhonePe in Dunzo’s business didn’t happen because other investors were worried. An offer from Flipkart to buy Dunzo also fell through because investors didn’t want to lose the Dunzo brand. Even Reliance, which owned a part of Dunzo, didn’t want to invest more money. Dunzo tried to raise funds by offering shares at a much lower price, showing their financial struggles.

    Trying to expand from seven cities to 15-16 cities was a critical mistake. They were already having problems in their current markets, but they chose to grow even more.

    The Company Falls Apart

    A late decision to focus more on Bengaluru and Pune came too late. Companies like Swiggy Instamart and Zepto had already taken over the market. Dunzo also lost five board members, including two of the founders. Employees faced delayed salaries, leading to layoffs as financial pressure grew.

    In FY23, Dunzo’s losses tripled to over Rs 1,800 crore, while revenue increased to Rs 226 crore. Their B2B efforts and partnerships didn’t solve their cash flow problems. Even an attempt to secure $20 million from existing investors failed.

    What’s Next?

    Over its 10 years, Dunzo focused too much on rapid growth to impress investors, often ignoring sustainable business practices. They raised a total of $450 million but were valued at just $745 million, with big names like Google and Reliance among their investors.

    Dunzo spent a lot on marketing and growth strategies that didn’t provide long-lasting value, which became a big problem when it was hard to find new investments. With rising debts of around $60 million and several ongoing legal cases, Dunzo lost the trust of investors.

    Kabeer Biswas’s departure marks a tough end for a company that once showed great promise in India’s delivery market.

  • Farmers Protest Inheritance Tax at Oxford Farming Conference

    Farmers Protest Inheritance Tax at Oxford Farming Conference

    Farmers gathered outside the Oxford Farming Conference to protest against new government plans designed to help farmers make more money. They were unhappy with Environment Secretary Steve Reed’s speech about a “new deal for farmers.” The government wants to support British farming, but many farmers say the new ideas won’t help them.

    One reason for the protests is the new inheritance tax for farms worth over £1 million introduced in the last budget. Farmers held up signs saying, “Fight the tax, save our farms!” while tractors rolled by honking their horns and playing “The Final Countdown.”

    Julie Adams, a farmer from near Bicester, said the government’s new plan does not address their issues. “We’ve already tried diversifying our farms, and we’re still having a tough time,” she explained. She wants the inheritance tax limit raised to £10 million to help farmers keep their land.

    Olli Fletcher, a young farmer, expressed doubt about the new proposals, saying they don’t seem helpful. He feels that the anger towards the government is too strong to fix quickly, and the inheritance tax is a big part of the problem.

    Heidi and Jonathan Smith, farmers who want to pass down their farm to their kids, also criticized the government’s plans. They said their children wouldn’t be able to pay the inheritance tax without selling part of the farm, which would hurt their ability to earn a living.

    Mo Metcalf-Fisher from the Countryside Alliance, which helped organize the protest, mentioned that the inheritance tax is a major block to any discussions about improving farming policies.

    Tom Bradshaw, president of the National Farmers Union, warned that more protests would happen unless the Prime Minister and Chancellor take a serious look at changing the inheritance tax rules.

  • Will the Real Estate Sector Cool Down Amid Economic Slowdown?

    Will the Real Estate Sector Cool Down Amid Economic Slowdown?

    As government reports suggest that the economy might slow down, we need to think about what this means for the real estate sector. Real estate usually goes hand-in-hand with how well the economy is doing. So, if the economy cools off, will real estate follow suit? It’s looking like the answer is yes. Given this, it might be smart to think about taking some profits now. However, if you really want to stick with real estate, you might want to consider making it a more cautious bet.