Author: Supriya Jena

  • NACDAC Infrastructure IPO: Record Subscription & Exciting Debut Today!”

    NACDAC Infrastructure IPO: Record Subscription & Exciting Debut Today!”

    NACDAC Infrastructure is making a big splash today as its shares start trading on the NSE SME platform! This company set a record as one of the most subscribed in the SME world, with people eager to buy its shares. Before the shares began trading, they had a grey market premium (GMP) of Rs 52, which means people were willing to pay a lot more than the issue price of Rs 42—about 140% more!

    Because of rules, the most anyone can gain when the shares debut is capped at 90%. If trends hold up, the stock could have huge gains on its first day. It’s important to remember that grey market prices can change fast and only show how popular shares are before they officially list.

    NACDAC Infrastructure aimed to raise Rs 10 crore through its IPO but got bids worth a massive Rs 14,386 crore—nearly 2000 times what they were looking for! They offered 20.8 lakh shares, but people wanted 411 crore shares! Retail and individual investors were especially excited, bidding 2500 and 2600 times, respectively.

    The company said it would use the money for day-to-day needs and other business purposes. NACDAC is a construction company that does a lot of different jobs like building tall buildings, handling electrical work, creating steel structures, and making bridges. They focus on delivering quality and have over 10 years of experience, working on 63 projects worth almost Rs 97 crore.

    In June 2024, NACDAC reported revenues of Rs 13.71 crore and a net profit of Rs 1.6 crore.

  • Strengthening U.S.-India Ties Ahead of Jaishankar’s December Visit”

    Strengthening U.S.-India Ties Ahead of Jaishankar’s December Visit”

    Ahead of External Affairs Minister S. Jaishankar’s trip to the United States, India’s Foreign Secretary Vikram Misri met with key American diplomats on Monday. They talked about important topics between the two countries and other global issues. Jaishankar will be in the U.S. from December 24-29, as announced by the Ministry of External Affairs (MEA). During his visit, he will discuss these important matters with his American counterparts.

    On the day before Jaishankar’s trip, Misri had meetings with Deputy Secretary of State Kurt Campbell and Deputy Secretary for Management Richard Verma at the State Department. India’s Ambassador to the U.S., Vinay Mohan Kwatra, was also there. Verma expressed excitement for the continued growth of U.S.-India relations, highlighting a foundation of trust, shared values, and overall prosperity.

    Earlier that day, Verma had a gathering with Indian think tank experts and U.S. officials to discuss progress in trade, defense, cultural ties, and global cooperation.

    Verma shared interesting facts about U.S.-India relations:
    – Trade between the two countries has grown from USD 20 billion in 2000 to USD 195 billion in 2023, and it’s expected to pass the USD 200 billion mark in 2024.
    – Defense trade has risen from zero to USD 24 billion in the same time.
    – The number of Indian students studying in the U.S. has jumped from 54,664 in 2000 to over 330,000 in 2023.
    – The Indian diaspora in the U.S. went from 1.9 million to over 5 million people.
    – The Biden-Harris administration has hired a record 130 Indian Americans for senior roles.
    – India is now the U.S.’s top partner for military exercises, and the U.S. sends the most money back to India.
    – One out of every five ‘unicorns’ (startups valued at over $1 billion) in the U.S. has Indian founders or co-founders.

    There are plans to open two new Indian consulates in Los Angeles and Boston, and the U.S. is also planning to open consulates in Bengaluru and Ahmedabad.

  • Honda Stock Surges After $7 Billion Buyback and Merger Talks with Nissan

    Honda Stock Surges After $7 Billion Buyback and Merger Talks with Nissan

    Honda’s stock jumped over 16% on Tuesday after the big news of a buyback valued at up to 1.1 trillion yen, or about $7 billion. This announcement came right after Honda and its struggling competitor, Nissan, revealed they will start talking about merging. This move is seen as a way for both companies to better compete with Chinese car makers and Tesla in the electric vehicle market.

  • PM Modi Meets Economists: Key Budget Insights for India’s Growth

    PM Modi Meets Economists: Key Budget Insights for India’s Growth

    Prime Minister Narendra Modi is going to speak with experts about the economy on Tuesday. This meeting comes just before his government’s first complete budget for its third term, expected to be shared on February 1. Finance Minister Nirmala Sitharaman had presented the last budget for the year 2024 in July when Modi’s government won its third term.

    This meeting is important because there are concerns about India’s slowing economy and reduced spending by people. The economy grew only 5.4% in the last quarter, which is the lowest growth in over two years. People are eager to see if the budget will include ideas to boost growth, encourage spending, and incentivize private businesses to invest.

    The budget will also be monitored for any actions in response to former U.S. President Donald Trump, especially since he might impose new tariffs on countries like India. This situation has led many experts to lower their growth forecasts for India. For example, the Asian Development Bank has reduced its growth expectation for India in 2025 from 7% to 6.5%, and Goldman Sachs has revised its figure from 6.5% to 6.4%.

    Despite a strong growth of 8.2% in 2024, high retail inflation means that the Reserve Bank of India is unlikely to lower interest rates to stimulate the economy. HDFC Bank noted that India’s future economic outlook is a mix of hope and uncertainty, with macroeconomic fundamentals appearing strong but facing unpredictable global challenges.

    Sitharaman has already talked to key players, including economists and business groups, about the budget. While the upcoming budget will be a main focus of Modi’s meeting with economists, long-term strategies needed to make India a developed nation as per the Prime Minister’s vision might also be discussed

  • Xiaomi Revolutionizes Digital Economy with Innovative Solutions”

    Xiaomi Revolutionizes Digital Economy with Innovative Solutions”

    On December 16, a special event called the Xiaomi Internet Partner Conference took place in New Delhi. Important people from the tech world, like developers, advertisers, and industry leaders, got together to discuss how to create a better digital shopping environment.

    Nitesh Trivedi, who leads Xiaomi’s internet business in India and South Asia, said that Xiaomi is focused on creating a strong network of devices and services. Their platform, HyperOS, connects different devices and improves user experiences. Xiaomi offers tools like GetApps, Mi Ads, and PatchWall to help businesses grow through better advertising and engaging content.

    Trivedi mentioned that India has one of the fastest-growing digital economies, with over 900 million people online. Xiaomi’s goal is to help both partners and users succeed through their “Grow with Xiaomi” strategy, which focuses on providing a helpful and open digital ecosystem.

    Xiaomi’s GetApps allows developers to present their apps more effectively, making it easy for users to access services right from their home screens without needing downloads. This approach helps businesses reach more customers.

    In addition, the Mi Ads system helps advertisers use smart technology to better understand their audience and improve their advertisements, which ultimately lowers costs and boosts results.

    PatchWall is Xiaomi’s platform that improves content discovery on TVs. It helps users find what they want to watch and provides advertisers with better opportunities to engage with these viewers, especially during big events like the IPL and ICC Cricket World Cup.

    Trivedi concluded that Xiaomi’s ecosystem is designed to help partners grow by connecting smart advertisements with their app ecosystem, making it easier for everyone to find success in India’s fast-growing digital world.

  • Andhra Pradesh Invests ₹2,723 Crore in Amaravati Road Development”

    Andhra Pradesh Invests ₹2,723 Crore in Amaravati Road Development”

    The Andhra Pradesh government has announced a big investment of Rs 2,723 crore to improve roads in the new capital, Amaravati. Municipal Minister P Narayana shared this news at a press conference and explained that this money will be used to build roads in specific areas, known as zones 7 and 10. So far, a total of Rs 47,288 crore has been approved for various projects in Amaravati.

    Narayana mentioned that more approvals for other projects will happen this month. He also emphasized that the government will not make the people of Andhra Pradesh pay for the costs of building this new city. Instead, they plan to pay back the loans by selling the land that farmers contributed for Amaravati

  • Shyam Benegal, Pioneer of Parallel Cinema, Dies at 90 – A Cinematic Legacy”

    Shyam Benegal, Pioneer of Parallel Cinema, Dies at 90 – A Cinematic Legacy”

    Shyam Benegal, a famous Indian filmmaker, passed away at the age of 90 in a hospital in Mumbai. He had just celebrated his birthday nine days earlier. Benegal was known for making important films like “Ankur,” “Nishant,” and “Bhumika,” which focused on social issues and Indian life. He was one of the first directors to create what is called “parallel cinema,” offering a different style from mainstream Bollywood movies.

    Benegal made over 25 films and worked in various genres, including documentaries and TV shows. His first film, “Ankur,” explored the struggles of cast and class in a small village. Other well-known movies include “Mandi,” about a brothel, and “Kalyug,” which is a modern take on the Mahabharata story. Benegal’s work often featured serious themes like gender equality and rural challenges, told in a way that made people think.

    He was beloved by actors, giving many of them their big breaks, including Shabana Azmi, Smita Patil, and Naseeruddin Shah. He believed that cinema should be both personal and political, telling stories that mattered. Benegal once said, “Every social act is also a political act,” highlighting the importance of empathy in storytelling.

    Benegal started his career in advertising and soon moved to making films. He received many awards for his work, including the Padma Shri and Padma Bhushan. He even served as a member of India’s Parliament.

    Just a week before he died, Benegal spoke about working on new film projects, showing his passion for filmmaking remained strong, despite his health issues. He will always be remembered as one of the greats in Indian cinema.

  • Why Coffee Prices Are Rising: Issues Hurting Your Morning Brew!”

    Why Coffee Prices Are Rising: Issues Hurting Your Morning Brew!”

    Coffee lovers, get ready for some bad news! The price of coffee is going up, and it might soon be hard to find a cheap cup of your favorite brew. Why is this happening?

    Firstly, coffee companies are warning us about big problems in coffee production. Many coffee beans are getting harder to grow because of rising temperatures caused by global warming. This has created dry conditions that are hurting coffee farms. Since November, prices have already started to rise, and without quick action or new ways to farm coffee beans, things could get even worse.

    But what else is causing the drop in coffee production? One big factor is something called El Niño. This weather pattern creates dry soil conditions that coffee plants need to grow strong. Without enough moisture, not only do the plants struggle to grow, but the taste of the coffee also gets worse.

    Additionally, deforestation in Brazil is making things even tougher. When trees are cut down, the soil loses its ability to hold water. This water is really important for growing different crops, especially coffee.

    So, keep an eye on your coffee prices! If things don’t change soon, your morning cup might cost a lot more than it used to.

  • Allu Arjun Summoned by Police Amid Stampede Tragedy and Political Fallout”

    Allu Arjun Summoned by Police Amid Stampede Tragedy and Political Fallout”

    Hyderabad police have called actor Allu Arjun to come to the Chikkadpally police station at 11 am on Tuesday. This is about a case concerning a woman who died in a stampede during the premiere of his movie, “Pushpa 2,” at Sandhya Theatre on December 4. The event has caused a lot of discussions in Telangana.

    After an attack on Allu Arjun’s house, his legal team visited him on Monday evening. A local court has given bail to six people who were arrested for damaging the actor’s home. Since then, the police have increased security around Allu Arjun’s house in Jubilee Hills.

    Footage online shows a group of lawyers visiting the actor’s home with bags and papers. According to Hyderabad’s West Zone police, on the evening of December 22, many people with signs gathered outside Allu Arjun’s house.

    Telangana’s Chief Minister, Revanth Reddy, spoke out against the attack and told police leaders to maintain peace in the area.

    Telangana Minister D Anasuya Seethakka accused the BRS and BJP parties of making politics out of the sad events. She reminded everyone that a life was lost and another person was still unwell. She mentioned how BRS leaders behaved during the statehood movement, questioning why they didn’t support the film industry then.

    Allu Arjun’s father-in-law, Chandrasekhar Reddy, met with Congress in-charge Deepa Dasmunsi, but details of their talk are not clear. BRS leader T. Harish Rao criticized the situation, calling it a “failure of governance.”

    BJP MP D.K. Aruna claimed that four people who damaged Allu Arjun’s house were linked to Congress, which the Congress party denied. Congress MP Chamala Kiran Kumar Reddy said identifying the vandals and connecting them with Congress based on pictures was wrong. He stated that they had photos with leaders from other parties too and questioned the reasons behind the vandalism.

    In other news, the producers of “Pushpa 2” have given ₹50 lakh to the family of the woman who died in the stampede. Producer Naveen Yerneni visited the hospital where the woman’s eight-year-old son is being treated and handed the cheque to the family. The hospital reported that the boy’s condition is stable, but he is still not fully out of danger.

  • NCLAT Supports Sapphire Media’s Victory in Reliance Broadcast Bid”

    NCLAT Supports Sapphire Media’s Victory in Reliance Broadcast Bid”

    The NCLAT (National Company Law Appellate Tribunal) has decided to support an earlier ruling that lets Sapphire Media buy Reliance Broadcast Network Ltd. This company is known for its FM radio station, Big 92.7 FM.

    On May 6, 2024, the NCLT (National Company Law Tribunal) approved Sapphire Media’s bid, but other companies, like Abhijit Realtors & Infraventure and Creative Channel Advertising & Marketing, disagreed and filed appeals. They claimed that there were mistakes in the bidding process. However, the NCLAT found no issues with how the resolution professional handled everything.

    The NCLAT said, “The process followed was in line with the rules, and we see no reason to change the original decision.” Thus, all appeals were dismissed.

    The trouble started when Reliance Broadcast Network was taken to the NCLT for insolvency on February 24, 2023, after a request from IDBI Trusteeship Services, a financial creditor. Six bids were submitted:

    – Abhijit Realtors at ₹80.20 crore
    – Creative Channel Advertising at ₹100 crore
    – Entertainment Network (India) at ₹37.17 crore
    – Sapphire Media at ₹104.28 crore

    The Committee of Creditors (CoC) decided to hold a bidding challenge process, setting a starting price of ₹240 crore. In the third round, Sapphire Media increased its bid to ₹251 crore, making it the highest.

    The CoC later called for revised offers. On November 4, 2023, Sapphire Media again led with a bid of ₹261 crore, which the CoC approved with 89% of votes. Although some alleged that Sapphire Media should have been ineligible to bid, the NCLAT rejected these claims.