5 Min Read
From Goldman Sachs' bullish stance on Trent to Swiggy IPO allotment —
Here are the top 11 news stories across business, global events, tech, and more
#Latestnews⚡️
Swiggy IPO allotment expected today — Here are steps to check status online
Swiggy Ltd. is expected to finalise the allotment basis of its shares on Monday, November 11. This means that the investors who subscribed to the online food and grocery delivery company’s initial public offering (IPO) will likely be able to check the status of their share allotment tomorrow.
Swiggy’s public issue worth ₹11,327.43 crore received a strong response from investors on the final day of bidding on November 8. The issue was booked over 3.59 times at the end of the bidding process, with qualified institutional bidders (QIBs) booking their allocation 6.02 times and the non-institutional investors (NIIs) category subscribing to the issue 41%. The retail investors category in Swiggy IPO was booked 1.14 times.
Read here
Trent's Zudio is a 'multi-year share gain story', says Goldman Sachs, projects 27% upside
Brokerage firm Goldman Sachs has initiated coverage on Tata Group's Trent Ltd. with a "buy" rating with a price target of ₹8,000. Goldman Sachs' price target implies a potential upside of 27% on Trent from Friday's closing levels.
Trent shares have recently entered the Nifty 50 index and have corrected 25% from its peak of ₹8,345. The fall in Trent's shares accelerated after a marginal miss to its already elevated expectations from its September quarter results. Goldman Sachs termed Trent's Zudio as a "multi-year share gain story" with low competitive risk.
Read here
Maharashtra Election 2024 Live: MVA promises caste census, free vaccine for girls, ₹3,000 for women
The opposition MVA released its manifesto for the November 20 Maharashtra elections on Sunday. It promised free cervical cancer vaccines for girls aged 9 to 16 and two optional leave days for women during menstruation.
The manifesto, called 'Maharashtranama', also promised a caste-based census, Rs 3,000 monthly financial aid, free bus travel, and six cooking gas cylinders each year at Rs 500 for women. Congress leader TS Singh Deo praised the Maha Vikas Aghadi’s (MVA) manifesto for the upcoming Maharashtra assembly elections on Sunday. He described it as a comprehensive plan that serves the best interests of the people, ensuring the overall development of the state.
Read here
#TechTalks????
Sony confirms PS5 Pro won't launch in India due to Wi-Fi 7 restrictions
Sony has confirmed that the highly-anticipated PS5 Pro will not be launching in India, despite its global release in select markets earlier this year. The company cited regulatory issues related to the 6GHz wireless band as the primary reason for the console’s absence in the Indian market.
In a statement, Sony India said, “PS5 Pro will not be available in some countries (which presently includes India) where 6GHz wireless band used in IEEE 802.11be (Wi-Fi 7) has not yet been allowed.”
Read here
Garmin Forerunner 165 Music Review: A solid entry level watch for amateur athletes
Over the years, Garmin has built a solid reputation among runners and adventure enthusiasts from all walks of life. With reliable GPS and rugged watches that have performed flawlessly for years, it's no surprise that Garmin watches appeal to everyone from casual 5K runners to marathoners and triathletes. Their Forerunner series is especially popular within the running and triathlon communities.
Read here
#DailyData????
#PersonalFinance????
This alternate investment fund has given 65% return in two years
The Prudent Equity ACE Fund, launched on December 16, 2022, has posted a return of 66.5% in the past year, surpassing the S&P BSE 500 benchmark, which gained 39.5% in the same period.
Since its inception, the fund has delivered a return of 65%.
An ACE Fund typically refers to a type of investment fund that focuses on high potential. While the specific meaning can vary depending on the fund, the Prudent Equity ACE Fund in particular is a category III alternative investment fund (AIF) that seeks to invest in companies with strong growth potential while minimising risk exposure.
Read here
Six strategies to protect your finances on digital platforms
As India’s financial sector faces a surge in cyberattacks, safeguarding personal finances on digital platforms has never been more critical. In 2023 alone, over 2 million cyberattacks targeted the country’s financial sector, with the rise in digital transactions posing an increasing threat, particularly in Tier 2 and Tier 3 cities.
Paarth Dhar, VP at Angel One and leader of the Fin One financial awareness platform, highlights the need for users to adopt advanced strategies to protect their finances.He notes, "As India’s fintech sector is poised to reach $150 billion by 2025, it’s imperative that users embrace evolving security practices to safeguard their digital financial identities."
Read here
#ExpertEdge????
The Canon India order of 2024: How it has helped restore the identity of Customs officers
The Supreme Court on November 7, passed one of those orders (henceforth known as Review Order ) which restores and reaffirms faith in the majesty of law. This was in the petition filed by the Customs Department seeking review of the judgement and order dated 09.03.2021 ( henceforth known as Original Order ) passed by the Supreme Court in the case titled Canon India Private Limited versus Commissioner of Customs.
To recapitulate the Original Order had, following the precedent laid down in the Sayed Ali case ( 2011) SCC 537 and Mangali Impex ( 2016 ) SCC Online Del 2597 of the High Court of Delhi, held that officers of the Directorate of Revenue Intelligence (DRI) were not empowered to issue show cause notices demanding duty, that such power was only with officers who had the powers of assessment. The Apex Court went on to opine, in what was the unkindest cut, that officers of the DRI are neither officers of customs nor ‘proper
officers'.
Read here
#podcast????️
Exploring Solar Energy Startups: Opportunities & Challenges with Dr. Ajay Mathur | Climate Clock
Here are the top 11 news stories across business, global events, tech, and more
#Latestnews⚡️
Swiggy IPO allotment expected today — Here are steps to check status online
Swiggy Ltd. is expected to finalise the allotment basis of its shares on Monday, November 11. This means that the investors who subscribed to the online food and grocery delivery company’s initial public offering (IPO) will likely be able to check the status of their share allotment tomorrow.
Swiggy’s public issue worth ₹11,327.43 crore received a strong response from investors on the final day of bidding on November 8. The issue was booked over 3.59 times at the end of the bidding process, with qualified institutional bidders (QIBs) booking their allocation 6.02 times and the non-institutional investors (NIIs) category subscribing to the issue 41%. The retail investors category in Swiggy IPO was booked 1.14 times.
Read here
Trent's Zudio is a 'multi-year share gain story', says Goldman Sachs, projects 27% upside
Brokerage firm Goldman Sachs has initiated coverage on Tata Group's Trent Ltd. with a "buy" rating with a price target of ₹8,000. Goldman Sachs' price target implies a potential upside of 27% on Trent from Friday's closing levels.
Trent shares have recently entered the Nifty 50 index and have corrected 25% from its peak of ₹8,345. The fall in Trent's shares accelerated after a marginal miss to its already elevated expectations from its September quarter results. Goldman Sachs termed Trent's Zudio as a "multi-year share gain story" with low competitive risk.
Read here
Maharashtra Election 2024 Live: MVA promises caste census, free vaccine for girls, ₹3,000 for women
The opposition MVA released its manifesto for the November 20 Maharashtra elections on Sunday. It promised free cervical cancer vaccines for girls aged 9 to 16 and two optional leave days for women during menstruation.
The manifesto, called 'Maharashtranama', also promised a caste-based census, Rs 3,000 monthly financial aid, free bus travel, and six cooking gas cylinders each year at Rs 500 for women. Congress leader TS Singh Deo praised the Maha Vikas Aghadi’s (MVA) manifesto for the upcoming Maharashtra assembly elections on Sunday. He described it as a comprehensive plan that serves the best interests of the people, ensuring the overall development of the state.
Read here
#TechTalks????
Sony confirms PS5 Pro won't launch in India due to Wi-Fi 7 restrictions
Sony has confirmed that the highly-anticipated PS5 Pro will not be launching in India, despite its global release in select markets earlier this year. The company cited regulatory issues related to the 6GHz wireless band as the primary reason for the console’s absence in the Indian market.
In a statement, Sony India said, “PS5 Pro will not be available in some countries (which presently includes India) where 6GHz wireless band used in IEEE 802.11be (Wi-Fi 7) has not yet been allowed.”
Read here
Garmin Forerunner 165 Music Review: A solid entry level watch for amateur athletes
Over the years, Garmin has built a solid reputation among runners and adventure enthusiasts from all walks of life. With reliable GPS and rugged watches that have performed flawlessly for years, it's no surprise that Garmin watches appeal to everyone from casual 5K runners to marathoners and triathletes. Their Forerunner series is especially popular within the running and triathlon communities.
Read here
#DailyData????
Daily Data
#PersonalFinance????
This alternate investment fund has given 65% return in two years
The Prudent Equity ACE Fund, launched on December 16, 2022, has posted a return of 66.5% in the past year, surpassing the S&P BSE 500 benchmark, which gained 39.5% in the same period.
Since its inception, the fund has delivered a return of 65%.
An ACE Fund typically refers to a type of investment fund that focuses on high potential. While the specific meaning can vary depending on the fund, the Prudent Equity ACE Fund in particular is a category III alternative investment fund (AIF) that seeks to invest in companies with strong growth potential while minimising risk exposure.
Read here
Six strategies to protect your finances on digital platforms
As India’s financial sector faces a surge in cyberattacks, safeguarding personal finances on digital platforms has never been more critical. In 2023 alone, over 2 million cyberattacks targeted the country’s financial sector, with the rise in digital transactions posing an increasing threat, particularly in Tier 2 and Tier 3 cities.
Paarth Dhar, VP at Angel One and leader of the Fin One financial awareness platform, highlights the need for users to adopt advanced strategies to protect their finances.He notes, "As India’s fintech sector is poised to reach $150 billion by 2025, it’s imperative that users embrace evolving security practices to safeguard their digital financial identities."
Read here
#ExpertEdge????
The Canon India order of 2024: How it has helped restore the identity of Customs officers
The Supreme Court on November 7, passed one of those orders (henceforth known as Review Order ) which restores and reaffirms faith in the majesty of law. This was in the petition filed by the Customs Department seeking review of the judgement and order dated 09.03.2021 ( henceforth known as Original Order ) passed by the Supreme Court in the case titled Canon India Private Limited versus Commissioner of Customs.
To recapitulate the Original Order had, following the precedent laid down in the Sayed Ali case ( 2011) SCC 537 and Mangali Impex ( 2016 ) SCC Online Del 2597 of the High Court of Delhi, held that officers of the Directorate of Revenue Intelligence (DRI) were not empowered to issue show cause notices demanding duty, that such power was only with officers who had the powers of assessment. The Apex Court went on to opine, in what was the unkindest cut, that officers of the DRI are neither officers of customs nor ‘proper
officers'.
Read here
#podcast????️
Exploring Solar Energy Startups: Opportunities & Challenges with Dr. Ajay Mathur | Climate Clock
(Edited by : Akashdeep Baruah)
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