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Column by Pandit Vijayshankar Mehta- It is necessary to take the help of yoga in the world of science | Column by Pandit Vijayshankar Mehta: It is necessary to take the help of yoga in the world of science

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hindi news Opinion Column By Pandit Vijayshankar Mehta It Is Necessary To Take The Help Of Yoga In The World Of Science 23 hours ago copy link Pt. Vijay Shankar Mehta Science first mastered the external activities of the body and then within no time it entered the internal. Therefore, the importance of the soul should be understood. If you are looking for peace, then understand this thing well that we are made up of three elements – body, mind and soul. Science will rule over the body and mind, but the soul is free. Now the preparation of science has reached a very dangerous stage. There is a company called Neuralink. It has successfully experimented with implanting a chip in the brain of monkeys. It can also put a chip in the human skull. This activity of science claims that by doing this, man will be freed from many diseases. Now it will have to be written on some discoveries of science that its use is harmful and people will keep using it. The only way to avoid this is to learn to live on your soul and no science can make you travel to the soul. For this, you will have to adopt the medium of yoga. There is more news… Source link

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Pakistan is preparing for demonetization, will print plastic notes instead of paper

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New Delhi. The people of Pakistan, who are drowning in poverty, are finding it difficult to get flour and rice. The economy is in shambles. To improve the country’s economic condition, the State Bank of Pakistan has now come up with a new scheme. The central bank of Pakistan will now print plastic notes instead of paper in the country. These notes will be made from polymer plastic. Currently, about 40 countries are using polymer plastic bank notes. These are difficult to counterfeit and have more advanced security features like holograms and transparent windows. Pakistan’s central bank will introduce a new polymer plastic currency banknote later this year. The central bank will also redesign all existing banknotes for better security and hologram features. State Bank of Pakistan Governor Jamil Ahmed told the Senate Committee on Banking and Finance in Islamabad that all existing paper currency notes are being redesigned with new security features by December this year. Also read- Asia’s richest village with FD of Rs 7000 crore, in this state of India, where is the money coming from? Plastic notes will be issued in December Ahmed said that banknotes with new designs in denominations of Rs 10, 50, 100, 500, 1000 and 5000 will be issued in December. A source said, “The old notes will remain in circulation for five years and the central bank will remove them from the market.” The State Bank governor told the Senate committee that the new polymer plastic banknote will be issued to the public in one denomination and if it is well received, plastic currency will be issued in other denominations as well. Currently, about 40 countries use polymer plastic banknotes, which are difficult to counterfeit and have more advanced security features such as holograms and transparent windows. Australia introduced polymer bank notes Australia was the first country to introduce polymer bank notes in 1998. Ahmed also confirmed that the central bank has no plans to discontinue the Rs 5,000 note. However, one of the members, Mohsin Aziz, insisted that this would make it easier for corrupt people to carry on their business. Tags: Business news, Note ban, pakistan news, Pakistani currency FIRST PUBLISHED : August 24, 2024, 18:17 IST Source link

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Rekha Jhunjhunwala-backed Baazar Style Retail files RHP, IPO to open on August 30 | Bazaar Style Retail submits draft-papers with SEBI: IPO will open on August 30, Rekha Jhunjhunwala will sell her 27.23 lakh equity shares

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hindi news Business Rekha Jhunjhunwala backed Baazar Style Retail Files RHP, IPO To Open On August 30 Mumbai10 hours ago copy link Investor Rekha Rakesh Jhunjhunwala’s stakeholder company Bazaar Style Retail (Style Bazaar) has filed Red Herring Prospectus (RHP) i.e. draft paper with SEBI. The company can announce the price band of its IPO on August 27. According to the prospectus, the initial public offering comprises a fresh issue of equity shares aggregating to Rs 148 crore and an offer for sale (OFS) of up to 1.7 crore equity shares by promoter group entities and other selling shareholders. Rekha Jhunjhunwala to sell 27.23 lakh equity sharesUnder OFS, Rekha Rakesh Jhunjhunwala will sell 27.23 lakh equity shares. Apart from her, Intensive Softshare Private Limited will sell 22.40 lakh shares and Intensive Finance Private Limited will sell 14.87 lakh shares. Investor Rekha Rakesh Jhunjhunwala. The Kolkata-based value fashion retailer will launch its anchor book for the IPO on August 29, 2024, with the issue open for public subscription from August 30, 2024 to September 3, 2024. Link Intime India appointed as RegistrarAxis Capital, Intensive Fiscal Services and JM Financial are acting as the book-running lead managers to the issue, while Link Intime India has been appointed as the registrar. The company will use the funds raised from the IPO for general corporate purposesAccording to the RHP, the IPO is a combination of a fresh issue and OFS. Therefore, the company will use the funds raised from the IPO for pre-payment or repayment of certain outstanding borrowings and for general corporate purposes. There is more news… Source link

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US interest rate cuts will only be half the success

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The much-awaited Fed pivot is finally on the horizon. Last Friday, Federal Reserve Chairman Jerome Powell said in his speech at the famous annual Jackson Hole Economic Symposium that ‘the time has come to adjust policy’, clearly indicating a rate cut in the US at the upcoming FOMC meeting in September. Stock and bond markets rejoiced, as they have always done in the past. In the past 25 years, the US has had three rate-cutting cycles and the initial reaction on the eve of the first such action has always been positive. But how has the follow-up action been as the rate-cutting cycle continues? Here are some insights on how various asset classes and key macro metrics have performed during past rate-cutting cycles (see table also) and takeaways for investors. For this analysis, we have considered changes from the month of the first rate-cut to the month of the last rate-cut in the cycle. An analysis of the events since the beginning of the interest rate cutting cycle gives the message that one needs to be careful about what one wishes for (low interest rates). glass half full? When a cycle of interest rate cuts begins, the battle is only half won. Victory over inflation can be declared only when a moderation in the economy is confirmed, which will become clear sometime next year. The last three times the Fed cut rates, the US economy eventually ended in recession. Even in 2020, when the recession caused by the Covid-19 pandemic began, the economy was already showing signs of a slowdown. In earlier cycles, too, several rate-cutting cycles ended in recession. Soft landings have been rare, but were achieved once during a cycle in the mid-1990s. Each cycle had slightly different dynamics. In 2000, the economy/markets had already started weakening/improving before the rate cut, while in 2007 both continued strengthening/rising for a few months even after the rate cut, the end result being that the economy/markets faced painful times at different periods during past rate-cutting cycles. During the 2001-03 rate-cut cycle, the Dow Jones, S&P500 and Nasdaq Composite declined 17, 32 and 34 per cent, respectively, while the Nifty50 outperformed by declining 10 per cent. While in India, too, the slowdown during that cycle was severe, the recovery phase began as early as 2003. In contrast, the pain continued even after all four indices declined 30-40 per cent by the time of the last rate cut in the September 2007 to December 2008 rate-cut cycle. Gold has been the outperformer in these cycles, delivering strong returns in dollar terms and becoming even stronger following the depreciation in the Indian Rupee (USDINR) in the 2007-08 and 2019-20 cycles. Also read: US Fed keeps interest rates steady, expects just one cut in 2024 How should investors position themselves? The possibility of a soft landing remains, but investors now have to assume it’s not a certainty. Given this, some hedging of the portfolio by increasing exposure to gold and fixed income could be a good move. Also, investors need to closely monitor the trend in the unemployment rate in the US over the next few months. When investors try to analyse why rate-cutting cycles have been bad for the markets overall, one should examine the data to see what factors drive rate cuts. Rising unemployment rates are a factor that influences the start of a rate cutting cycle as the US Fed attempts to balance its dual mandate of price stability and maximum employment. This is the case this time as well, with the July unemployment report triggering the Sahm Rule recession indicator. When unemployment rises, spending in the consumption-driven US economy is affected, triggering a recession/slowdown, which has ramifications for economies and markets around the world. share copy Link Email Facebook Twitter Telegram Linkedin WhatsApp reddit Published on 24 August 2024 Source link

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ola gift to customers started carpooling service again

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pattern photo ANI Image This service was also run four years ago but this service was stopped during the Corona period. Now after almost four years, this facility has been started. Aggarwal had also announced this facility in Ola’s annual community program ‘Sankalp’ on 15 August. Ola company is going to restart a service for its customers which it has been providing earlier as well. The company has restarted its carpooling facility under the name Ola Share. This information has been given by Bhavish Aggarwal, according to the report of Moneycontrol. This service was also run four years ago but this service was stopped during the Corona period. Now this facility has been launched after almost four years. Aggarwal had also announced this facility at Ola’s annual community event ‘Sankalp’ on August 15. Bhavish Aggarwal said, “We are bringing back Ola Share for affordable rides. This time the experience is much better with AI-driven algorithms… We will soon consider expanding to other cities.” Similarly, Uber launched its group rides in Delhi and Rapido launched its carpooling services in Bengaluru. Know what is car pooling service Let us tell you that carpooling is a service in which many different people travel together in a large vehicle. Usually such people have to go to the same place. Usually private car owners are allowed to share rides through this service. Share it Other News Source link

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Domestic gold prices rise 10% amid rising global prices and central bank buying: World Gold Council

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According to the World Gold Council, global gold prices have risen 18 per cent so far this year, driven by a 10 per cent rise in domestic gold prices, driven by strong buying by central banks, rising geopolitical risks and growing expectations of a monetary policy change from the US Federal Reserve. The reduction in import duty has led to a revival in the demand for gold across India. Reports from the recently concluded India International Jewellery Show indicate that order bookings from retailers have increased significantly, especially in preparation for the upcoming festive and wedding season. Manufacturers have found that in some cases, orders have reached levels not seen in many years, reflecting strong buying interest among jewellery retailers and consumers. Bar and coin buying also remains strong, with both consumers and jewellery retailers taking advantage of more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, which includes demand for jewellery and bars and coins, could see an additional 50 tonnes or more in the second half of 2024. This potential growth is driven by a combination of an initial increase in consumer appetite due to more attractive prices and the long-term alignment of local prices with international rates. Also read: RBI to issue 30 gold bonds from October 11 A notable change has been that domestic gold prices, which were trading at a discount to international prices for five consecutive months, have now started trading at a premium after the announcement of the Union Budget. The discount had widened sharply in July, hitting a high of nearly $80 an ounce in the third week of the month, driven by weak demand and increased gold supply through various preferential trade agreements and unofficial channels. However, wholesalers began selling gold at prices higher than landed cost to recoup their losses on inventory purchased under the old customs regime, further supported by increased consumer demand. While the premium has softened recently, from $28 an ounce to around $5 an ounce, the move highlights changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes made in the Union Budget, including a reduction in long-term investment holding period and lower tax rates, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) showed net inflows into gold ETFs in July at ₹13.4 billion (about $160 million), marking the highest monthly inflows since February 2020 and an 84 per cent increase compared to June 2024. Despite these inflows, total assets under management (AUM) for Indian gold ETFs rose marginally by 0.3 per cent to ₹345 billion ($4.1 billion) over the previous month. This marginal increase can be attributed to an 8 per cent drop in domestic gold prices following a reduction in import duty. Total net inflows into Indian gold ETFs have been ₹45 billion ($543 million) so far this year, with total AUM up 48 per cent from a year ago. The Reserve Bank of India (RBI) has continued its trend of buying gold, although at a slower pace after a significant increase in June, when purchases reached 9.3 tonnes – the highest monthly total in nearly two years. Year-to-date, RBI’s gold acquisitions total 44.3 tonnes, surpassing the combined total of the previous two years. RBI’s gold reserves have now reached a record high of 849 tonnes, accounting for 8.8 per cent of the total foreign reserves, as against 7.5 per cent a year ago. Gold imports remained steady at $3.1 billion in July, maintaining the steady trend seen over the past three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during the period. The gold import bill for July 2024 was 11 per cent lower than the previous year, while in terms of quantity it was estimated to decline by 26 per cent to about 47 tonnes. Despite the surge in international gold prices, domestic gold prices in India have witnessed a significant drop, primarily due to the 9 per cent cut in import duty announced in the Union Budget 2024-25. This policy change has led to a 6 per cent reduction in the landed cost of gold, reflecting a change in the dynamics of the domestic gold market. Also read: Gold prices jump amid US recession concerns and interest rate cuts share copy Link Email Facebook Twitter Telegram Linkedin WhatsApp reddit Published on 24 August 2024 Source link

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Fill the form for UGC NET December 2023, application window has opened – UGC NET December 2023 application starts on ugcnet nta ac in apply till 28 october

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UGC NET December 2023: There is a very important update regarding UGC NET December 2023. The National Testing Agency has tweeted about the NET exam to be held in December. In which it has been told that the application window for UGC NET December 2023 exam has opened. Students wishing to appear in the UGC NET exam in December can fill it by visiting the NTA website ugcnet.nta.ac.in. The last date for application for this is 28 October. According to the information given by NTA, the examination for the December session will be conducted from 6 December to 22 December. Whereas the June session examination will be conducted from 10 June to 21 June 2024. UGC NET exam is conducted for eligibility for Assistant Professor and Junior Research Fellowship (JRF). There will be two papers in the computer based NET exam. The exam for both the papers will be conducted in a single session. There will be no break between Paper-1 and Paper-2. FIRST PUBLISHED : September 30, 2023, 23:02 IST Source link

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Baazar Style Retail IPO to open on August 30 Rekha Jhunjhunwala will also sell her shares

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[ Rekha Jhunjhunwala: Rekha Jhunjhunwala is considered one of the market’s top investors. The success of the company she invests in is almost certain. Now, her supported company Bazaar Style Retail is about to enter the market. Investors were waiting for its IPO for a long time. The subscription for the company’s IPO will open on August 30 and you can invest in it till September 3. Fresh equity worth Rs 148 crore will be launched in the share market This company runs a retail store named Style Bazaar. According to the document submitted to market regulator SEBI, the company is going to announce the price band of its IPO on August 27. The IPO may be listed on September 6. In this IPO, fresh equity shares worth Rs 148 crore will be launched in the market. Apart from this, promoters and other big investors will launch 1.7 crore equity shares in the market through offer for sale. Apart from Rekha Jhunjhunwala, many promoters will sell their stake Rekha Jhunjhunwala will also sell 27.23 lakh equity shares in the offer for sale. Apart from this, Intensive Softshare is going to sell 22.40 lakh shares and Intensive Finance is going to sell 14.87 lakh shares. Kolkata’s Bazaar Style Retail is known as a budget fashion retailer. The anchor book of the company’s IPO will open on August 29. Axis Capital, Intensive Fiscal Services and JM Financial have been appointed as the book running lead managers of the IPO. Link Intime India will be its registrar. The company will use the money coming from the IPO to repay the debt and fulfill corporate purposes. Profit of market style retail is increasing, income is also increasing The total income of the company in the financial year 2024 was Rs 982 crore. This is 23 percent more than Rs 794 crore in the financial year 2023. Also, the net profit of Bazaar Style Retail has also increased from Rs 5 crore to Rs 21 crore. This company is doing better in the markets of Bengal and Odisha. The company has 162 stores here. Along with clothes, home decor items are also available in these. The company is known for providing good quality at low prices. Read this also Digital Currency: What will happen to digital rupee amid the reign of UPI, former RBI deputy governor doubts its success Source link

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Currency derivatives trading reduced due to RBI order

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Despite massive inflows by foreign portfolio investors into equity markets, trading volumes in currency derivatives on exchanges have declined sharply following the recent Reserve Bank of India order and have shifted to offshore centres, especially Singapore. The turnover of currency futures on NSE fell 83 per cent to Rs 2,073 crore in July from Rs 12,079 crore in April. Similarly, the turnover of options fell 98 per cent to Rs 2,018 crore in the same period from Rs 1.54 lakh crore on NSE. Turnover on BSE and Metropolitan Stock Exchange of India also declined. According to the Sebi annual report, the total turnover of all exchanges in the currency derivatives segment is expected to decline by 15 per cent to Rs 377.4 lakh crore in FY24 from Rs 445.9 lakh crore in FY23. Also read: FPIs continue aggressive selling post Budget: Withdraw Rs 20,919 crore since July 23 According to a Sebi report, in the last fiscal, the share of proprietary trading was 66 per cent on NSE, and as high as 90 per cent and 10 per cent on BSE and MSEI, respectively, while FPI share was 9 per cent, 3 per cent and 6 per cent on the three exchanges. In January, the banking regulator made it mandatory for investors to have valid unsecured underlying contract exposure to trade in the exchange traded currency derivatives market. In 2014, FPIs were allowed to trade in exchange-traded currency derivatives with a limit of $100 million, without the need to establish “underlying exposure” to equities, bonds, mutual funds or other acceptable financial instruments. Also read: RBI’s currency derivatives order leaves FPIs confused Offshore Variations However, most FPIs have shifted their rupee business to the overseas market following the RBI directive. Open interest in rupee/dollar futures on the Singapore Exchange has nearly quadrupled since the beginning of this year to 2.68 lakh contracts, worth over $6 billion. The average open interest in 2023 was 92,000 contracts. Narinder Wadhwa, managing director at SKI Capital, said the new RBI regulation has led to a reduction in speculative and arbitrage activities, as many traders found the new compliance requirements cumbersome. He said some market participants have shifted their trading activities to offshore markets such as Dubai and Singapore because there are fewer restrictions there. Jatin Trivedi, VP Research Analyst at LKP Securities, said the RBI weeded out speculators from the market by allowing positions in currency derivatives only for hedging purposes. He said the measure was aimed at preventing rapid rupee depreciation caused by speculators’ positions and due to strict norms, market participants reduced their participation in currency derivatives. share copy Link Email Facebook Twitter Telegram Linkedin WhatsApp reddit Published on 24 August 2024 Source link

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Jeyyam Global Foods sets price band at ₹59-61 per share for ₹82 crore SME IPO

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Jeyyam Global Foods Ltd, a Chennai-based food products company, has set a price band of ₹59-61 per share for its upcoming SME Initial Public Offering (IPO). The IPO will open for subscription on September 1, 2024, and close on September 4, 2024. The anchor investor bidding is scheduled for August 30, 2024. The company aims to raise between ₹79.25 crore and ₹81.94 crore, depending on the final price band, according to the company’s management. The IPO will consist of up to 1,34,32,000 equity shares with a face value of ₹5 each. This includes a fresh issue of up to 1,20,88,800 equity shares and an offer for sale (OFS) of up to 13,43,200 equity shares by promoter shareholder Sripal Veeramchand Sanghvi. The equity shares will be listed on the NSE’s SME platform. Investors can place bids for a minimum of 2,000 equity shares and in multiples of 2,000 thereafter. Corpwis Advisors is serving as the book-running lead manager for the offer. Utility of the proceeds The company plans to use the proceeds from the IPO, excluding the OFS portion and issue-related expenses, for capital expenditure (₹19 crore), working capital needs (₹35 crore), and other corporate purposes. Jeyyam Global Foods intends to establish two Bengal gram (chana) cleaning and grading units in Maharashtra and an integrated unit in Madhya Pradesh that will include a cleaning and grading plant, a fried gram plant, a gram dal plant, and a gram flour plant. Additionally, the company will expand its operations in Salem, Tamil Nadu, with a new 40,000 sq ft facility. The company plans to increase its fried gram production capacity by 30 per cent from the current 55,000 tonnes per annum, while the capacity for cleaned and graded chana will rise from 106,000 tonnes to 216,000 tonnes. The gram flour capacity will also expand to 50,000 tonnes from the current 10,000 tonnes. Founded in 2008, Jeyyam Global Foods Ltd specializes in the manufacturing and supply of chana, fried gram, and besan flour to B2B segments. The company is now moving into the B2C segment, initially introducing products like soya chunks and vermicelli, with plans to further expand into spices, masalas, ready-to-eat foods, salt, and sugar. Promoter holding The company’s promoters include Shripal Veeramchand Sanghvi, Amit Agarwal, Sujathaa Mehta, Shnti Guru Industries, Sarika Sangavji, Shripal Sanghvi, and Manipal Sanghvi. Amit Aggarwal serves as the Managing Director, while Shripal Veeramchand Sanghvi is the Whole Time Director. Post-IPO, the promoters’ holding will come down to 66-67 per cent from 92 per cent earlier. In FY24, the company reported revenues of ₹630 crore, up from ₹380 crore in FY23, with a net profit of about ₹16 crore. SHARE Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Published on August 24, 2024 Source link