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🌄 *S̴h̴u̴b̴o̴u̴d̴h̴a̴y̴a : 29 Jun/आषाढ मास(Tuesday) ग्रीष्म ऋतू {कृष्ण पक्ष}*🙏🏻
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*Today's top News* ➣➣➣➣➣➣➣➣➣➣➣➣➣

1. *Gaganyaan mission* :
ISRO to launch first uncrewed mission Gaganyaan. The goal of the Gaganyaan programme is to show the aptitude to ship people to low earth orbit on board an Indian launch automobile & produce them again to earth safely. ISRO looking to launch in December 2021, but the two waves of the coronavirus pandemic have made it difficult to get required supply of hardware.

2. Union Finance Minister Nirmala Sitharaman yesterday (on June 28,) announced some economic relief measures for all those sectors affected by the 2nd wave of the COVID-19 pandemic in the country. The govt announced 8 major economic relief measures & Rs 1.1 lakh crore loan guarantee scheme for the sectors affected by the COVID pandemic.

3. The Govt on 28 June (Monday) announced an additional amount of Rs 19,041 cr is being provided for the BharatNet project, which is aimed at providing broadband connectivity to 2.5 lakh panchayats across the country which encourages digital India.

4. The Telangana State Intermediate state Board Results 2021: This is the first time that the board has 100% pass, all students have been promoted. Over 4.5 lakh students will be able to download their marks memos from the official websites.

5. Punjab govt denies Delhi CM Kejriwal to hold press meet: He will be coming to Chandigarh on 29 Jun (Tuesday).

6. Minister of State for Chemicals & Fertilisers Mansukh Mandaviya : Department of Fertilisers is ready with an action plan to make India Aatmanirbhar in Rock Phosphate, the key raw material of DAP & NPK Fertlisers. Presently India is 90% dependent on imports.

7. NIA court sent former Mumbai Police Officer Pradeep Sharma to judicial custody till 12 July in Hiren Murder case

8. Bollywood actor Mithun Chakraborty questioned by Kolkata police over controversial remarks statement “maarbo ekhane lash porbe soshane” and “ek chobole chobi” during an election rally at the Brigade Parade Grounds on March 7 in presence of PM Modi.

9. Senior Punjab Congress leader cricketer turned Politician Navjot Singh Sidhu will meet the Priyanka and Rahul Gandhi in Delhi today (29 Jun).

10. The Government of West Bengal has extended COVID-induced restrictions in the state till 15 July 2021 with further relaxations. Now Salon, beauty parlour & gyms can now operate for limited hours. Private buses & auto rickshaws will now be allowed to operate with 50% occupancy. Earlier, restrictions was till 30 June.

11. Karnataka govt to conduct 10th Board Exam on 19th & 22th of July. July 19 exam will be on core subjects and July 22 will be for the language papers.

12. Militants shot dead a special police officer, Fayaz Ahmad at Hariparigam in Awantipora area at around 11 pm on 27June (Sunday) and opened fire on the family his wife and daughter in J&K's Pulwama district.

13. DRDO developed a new missile of the Agni series known as Agni-Prime was successfully carried out the test-firing from coast of Odisha yesterday (28 Jun).

*✈INTERNATIONAL NEWS*

1. Union Govt. Exempts Imported COVID Relief Material From IGST till 30 June 2021.

2. Twitter has removed a wrong map of India that showed J&K and Ladakh as a separate country from its website. This is the 2nd time Twitter has misrepresented India’s map. Earlier it had shown Leh as part of China. The govt has slammed Twitter for deliberate defiance and failure to comply with India's new IT rules.

3. ​Delhi's All India Institute of Medical Sciences (AIIMS) has moved past prestigious institutes in the rankings for best medical schools in the world. According to the CEO WORLD magazine.

4. Kendriya Raksha Mantri (Union Defence Minister) Rajnath Singh on 28 Jun inaugurated three baily bridges virtually from Delhi, on way to the Indo-China border in Dharchula sub-division of Uttarakhand''s Pithoragarh district.

5. 'India will not tolerate if someone tries to threaten it': Defence Minister Rajnath Singh said in Ladak on his visit.
In a clear message to China, Defence Minister also said the country will never forget the sacrifice of the Galwan martyrs and it will not tolerate it if anyone tried to threaten it.

6. The Indo-Japanese friendship and partnership during the COVID-19 crisis is more relevant for global stability & prosperity, PM Modi said and called for further strengthening of the ties between the two countries

7. UAE flag carrier Emirates likely to resume Dubai-India flights from July 7.

8. COVID-19 pandemic Vaccine registration portal, CoWIN has become popular & foreign countries are showing interest in the technology. Over 50 countries from across Central Asia, Latin America & Africa, are interested in it.

*🌎WORLD NEWS🌍*

1. South Korea to develop 'Iron Dome'-style defence system to counter North Korea's arsenal of long-range guns and rockets, artillery.

2. Seven people died & fifty others were injured in an explosion in the bustling commercial area of Moghbazar in the capital city Bangladesh, Dhaka on (27 June) Sunday evening.

3. South Africa's President Cyril Ramaphosa reimposed restrictions for two weeks to combat a surge in the highly contagious Corona virus Delta variant.

4. Bangladesh reports highest single day COVID 19 infection, Army to enforce strict lockdown from July 1. The closure of the border for public movement with India has also been extended further for two weeks beyond June 30.

5. Saudi Arabia will start inoculating young people aged 12 to 18 years against COVID-19 with the Pfizer-BioNtech vaccine.

*🚣🚴🏇🏁🏊Sports:*

1. Rahi Sarnobat wins India’s first gold of Osijek Shooting World Cup in the Women’s 25M Pistol at International Shooting Sport Federation (ISSF) World Cup Rifle/Pistol/Shotgun stage in the Croatian city of Osijek.

2. The T20 World Cup scheduled to be held in India this year is being shifted to the UAE owing to the health safety concerns posed by COVID-19, BCCI President Sourav Ganguly said.

3. Olympic-bound Simranjit Kaur, Commonwealth Games gold medallist Gaurav Solanki & world championship silver winner Sonia Chahal have been nominated for the Arjuna award by the Boxing Federation of India.

4. Ace archer Deepika Kumari has regained the World number one ranking in the latest world rankings released on June 28 after the 3rd stage World Archery Championship held in Paris. She created a new record by winning three gold medals in a single day along with winning the gold medal in the Individual Women's Recurve event.

5. Tennis, British No. 1 Johanna Konta has been ruled out of Wimbledon because one of her team member has tested positive for Covid.
Konta, will be isolated for 10 days.

6. Olympians from 6 countries required to take pre-departure COVID-19 tests for 7 days, the athletes & all other members of delegations from India, Nepal, Pakistan, the Maldives, Sri Lanka & Afghanistan will face stricter countermeasures because of the spreading Delta variant.

*USD 74.30 💷GBP 103.37*
_In Mumbai(MH)_
*🥇Gold ₹48,710©10 gm 24 (Krt)*
🥈 *Silver ₹67,900©Kg*
⛽ *Petrol ₹ 96.42*
⛽ *Diesel ₹ 104.56*

*LPG : ₹ 809/14.2 Kg*

*BSE Sensex* 52,735.59
*NIFTY* : 15,814.70

Ⓝⓐⓥⓔⓔⓝ Ⓚⓤⓜⓐⓡ
*🇮🇳Facts about India🇮🇳*

The Ajanta Caves are approximately 30 rock-cut Buddhist cave monuments which date from the 2nd century BCE to about 480 CE in Aurangabad district of Maharashtra state of India. The caves include paintings and rock-cut sculptures described as among the finest surviving examples of ancient Indian art, particularly expressive paintings that present emotions through gesture, According to UNESCO, these are masterpieces of Buddhist religious art that influenced the Indian art that followed. They were covered by jungle until accidentally "discovered" and brought to Western attention in 1819 by a colonial British officer Captain John Smith on a tiger-hunting party.

Ajanta is one of the major tourist attractions of Maharashtra. It is about 6 kilometres (3.7 miles) from Fardapur, 59 kilometres (37 miles) from the city of Jalgaon, Maharashtra, India, 104 kilometres (65 miles) from the city of Aurangabad

The Ajanta style is also found in the Ellora Caves and other sites such as the Elephanta Caves, Aurangabad Caves, Shivleni Caves and the cave temples of Karnataka

*😀Thought of the day*

The beauty of the morning is not in the freshness of the atmosphere. It is in the freshness of our thoughts & feelings & how we wish to start our day.

*Joke of the day*
Online classes effect

*मास्टर जी* : अगर पृथ्वी के अंदर LAVA है तो बाहर क्या है ?

*पप्पू* : मास्टर जी बाहर OPPO, Apple, Mi और VIVO📱 है🤪😝😆

*😳Why❓❓❓*

*Why can't we see 🧐the details of an object far away?*

Not being able to see objects in the distance is a condition called ‘ *Myopia* ’ and is commonly known as nearsightedness.

Causes of Nearsightedness Nearsightedness can also be caused by a cornea (clear layer at the front of the eye) that's not shaped correctly. These two problems prevent light from focusing directly on the retina. Instead, light focuses in front of the retina, which makes distant objects appear blurry.

*LEARN Sanskrit*🙏🏻

*विराज* : बसना, रहना Dwells

🤔 *How it works* ⁉

*Science behind the famous Circus stunt : The Globe of Death by motorbike or मौत का खुवा* ⁉ 🏍️

The Globe of Death is a circus and carnival stunt where stunt riders ride motorcycles inside a mesh sphere ball. It is similar to the wall of death.

The physics behind this trick is *centripetal* force. This is the force that acts on an object as it moves around in a circular path. All forces have a direction in which they push, and centripetal force is directed towards the center of the circular path.

This feat is heavily based on timing between the riders to make sure they don’t crash into each other, but the reason they can ride around in circles and can ride upside down in the first place is a physics phenomenon centripetal force.

In other words, if you are driving your car🚗 in a circle, the centripetal force is directed towards the center of that circle. Centripetal force can be calculated using the following equation:

*Fc = (m x v2) / r*

Where:
*Fc* is the centripetal force
*m* is the mass of the object
*v* is the velocity at which the object is moving
*r* is the radius of the circular path

The moment the motorcycle and rider slows enough that they start to fall and lose contact with the top of the globe, the normal force immediately goes down to zero. The motorcycle is not in contact with the globe, hence no force is being exerted on the globe, so the globe doesn’t have to exert anything back.

💁🏻‍♂️ *GK TODAY*

Westerners used to the Gregorian calendar, all mark the birth of Jesus Christ as year zero, and any year before that is denoted as *BCE* (before Common Era)

🛕 *VEDIK GYAN*

Vedik tradition marks large spaces of time by a series of Yugas (roughly translated as "epoch" or "era" that fall in four-era cycles.
1. The *Satya* Yuga,
2. The *Treta* Yuga,
3. The *Dwapara* Yuga
4. The *Kali* Yuga.
After completing 4 Yuga's, it's called a Mahayuga.

According to the Vedik calendar, present time is the Kali Yuga, This calendar marks the days of the week and refers to them as the Vasara. As is true with the Western calendar there are seven days in a week. The days written in traditional Sanskrit.
*Ravi* (Sunday),
*Soma* (Monday), *Mangala* (Tuesday), *Budha* (Wednesday), *Guru* or *Brhaspati* (Thursday),
*Sukra* (Friday), and *Sani* (Saturday).

The Vedik calendar is divided into twelve months that correspond with the phases of the moon. The names of the months are based on the Zodiac signs as they follow the movement of the sun throughout the year. The names of the months and their corresponding Zodiac signs are:

*Chaitra* (Aries), *Vaisakha* (Taurus), *Jyaistha* (Gemini), *Asadha* (Cancer), *Sravana* (Leo), *Bhadrapada* (Virgo), *Asvina* (Libra), *Kartika* (Scorpio), *Agrahayana*(Sagittarius
*Pausa* (Capricorn), *Magha* (Aquarius), and *Phalguna* (Pisces).

Each month is approximately 29.5 days but varies somewhat according to celestial movements. Each month is broken down into two two-week periods: a Dark one (waning moon) and a Light one (waxing moon). Krishna Paksha & Shukla Paksha.

🧬 *Health care: Home Remedies*🩺
( *Note* : These home tips followed in villages/ancient traditions, it is up to you to use it or not🙏🏻)

*Home Remedies To Stop Loose Motions (Diarrhoea)*

Some of the common causes of loose motions are:

Bacteria like E.coli, salmonella, campylobacter present in contaminated water and foods can cause loose motions. Viral infections like viral hepatitis, herpes simplex virus, norovirus, and rotavirus can trigger loose motions.

We can use any one of the following home remedies:-
1. Consuming plain yoghurt. It contains a good quantity of probiotics (the good bacteria)

2. Apple cider vinegar may also provide relief from stomach pain.

*Ingredients*
A glass of lukewarm water. Two teaspoons apple cider vinegar (सेब का सिरका) A teaspoon of honey

3. Drinking of Coconut Water.
4. Eating raw bananas
5. A cup of boiled water with One teaspoon of cumin seeds जीरा
6. Two teaspoons of ginger juice with honey.
7. Half a teaspoon of cinnamon powder दालचीनी with Honey and A cup of lukewarm water
7. Sugar Syrup
Having a cup of sugar syrup can fight the symptoms of loose motions.
8. Half table spoon Fenugreek Seeds मेथी के दानें with water

However, if you have loose motions for over a week, it can be worrisome and would require medical attention

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive at new life time high of 15915 but started to witness profit booking at opening tick and slowly drifted towards 15800 zones. It remained consolidative with restricted upside for most part of the session and closed the day with loss of around 45 points. It formed a Bearish candle and a Bearish Belt Hold sort of candle which indicates that follow up is required to commence the next leg of rally

◆ Now, it has to hold above 15800 zones to witness an up move towards 16000 and 16200 zones while on the downside support can be seen at 15700 and 15600 zones

◆ India VIX moved up marginally by 0.24% from 13.36 to 13.40 levels. India VIX failed to move above 16-16.50 zones in last three weeks and hovering near to its lowest levels of last 17 months. Lower volatility indicates an overall bullish market bias but small bounce in VIX could give some volatile cues to the market

◆ On option front, Maximum Put OI is at 15500 followed by 15000 strike while maximum Call OI is at 16000 followed by 16500 strike. Call writing is seen at 16400 and 16500 strike while Put writing is seen at 15200 then 15600 strike. Option data suggests a wider trading range in between 15500 to 16200 zones while an immediate range in between 15600 to 16000 zones

◆ Bank Nifty opened positive but failed to hold above 35550 zones and remained consolidative in range of 35250 to 35550 zones. It was unable to continue its momentum of the last session and closed the day on the flattish note

◆ Now it has to hold above 35250 zones to move up towards 35750 and 36000 zones while on the downside support exists at 35000 and 34750 levels

◆ Bullish setup in Nationalum, Bank of Baroda, IGL, UBL, Cadila, Glenmark, PNB, Drreddy, Escorts, Biocon, Divislabs, Techm, Cumminsind, Tatasteel, Tataconsum, SRF, Cipla and Eicher Motor

◆ Bearish setup in Titan, Cholafin, Mothersumi, HDFC, Reliance, ITC and BPCL

*Technical & Derivatives Research, Motilal Oswal*

GM jsk stock in news tourism fin,thomascook,mah holiday,drreddy,hpl,tnpetro,spicejet,indigo,graphite,hudco,rcf, deepakfert,chambal,powermech,welspuncorp,isgec,nalco,gicre,nia. Negative stocks hdfclife,nlcindia,tanla,thyrocare. Nifty range 15675-15900.

World Markets

Dow - 151
Nasdaq + 140
Dax - 54
Nikkei - 243
Hangseng - 82
Sgxnifty + 6 (15868)
Brent Crude 73.85
Dow Fut - 37
Dollar Index 91.88

*HDFC LIFE* block deal book launched. Standard Life to sell 70mn shares

Price band of block deal book at Rs 658 to 678 per share at a discount of 2.6-5.5 % to Mondays close of Rs 696.2

Standard Life to sell 7 crore shares in deal worth Over Rs 4600 crores today

Stocks To Watch

HDFC Life Insurance Co: Foreign promoter Standard Life (Mauritius Holdings) 2006 to sell 3.46% stake in HDFC Life for $640 million (over Rs 4,600 crore) via a block deal, according to a Bloomberg News report. Standard Life will sell 7 crore shares at Rs 658-678 apiece, which is at a discount of 2.6-5.5% to Monday’s close of Rs 696.20. After this deal, the promoter’s stake in the insurer will reduce to 5.46% from 8.88%.

Piramal Enterprises: Approved the allotment of 3,650 secured NCDs of face value of Rs 10 lakh each aggregating to Rs 365 crore on private placement basis.

Punjab National Bank: Selects Ebixcash to manage Enterprise Wide Area Network.

Ramco Systems: The company will provide its next-gen Enterprise Resource Planning software to Aden Ports Development Company at their Aden Container Terminal.

Thomas Cook India: Has signed a deal with Shanghai Disney Resort.

Godrej Consumer Products: ICRA has upgraded the company’s long-term rating to AAA (Stable) from AA+ (Stable) and reaffirmed its short-term rating of A1+.

RITES: Secured anorder of approximately Rs 45 crore from Metro Express, Mauritius. The company has been awarded additional work of consultancy services for extension of the mainline, from Rose Hill to Reduit, through Ebene.

Lloyds Metals and Energy: Approved the allotment of 9 crore shares of face value of Re 1 each, at a premium of Rs 19 each, aggregating to Rs 180 crore. Further the company will allot 1 crore 3% Optionally Fully Convertible Debentures of face value of Rs 20 each aggregating to Rs 20 crore to Thriveni Earthmovers.

Earnings: Beekay Steel Industries, Balmer Lawrie Investments, DCM Shriram Industries, DREDGING Corporation Of India, EID-Parry (India), Fermenta Biotech, Finolex Cables, Gallantt Metal, Gallantt Ispat, GOCL Corporation, Gujarat Mineral Development Corporation, Hindustan Oil Exploration, Himadri Speciality Chemical, Housing & Urban Development Corporation, IND-Swift Laboratories, Indian Railway
Catering and Tourism Corporation, Indian Railway Finance Corporation, MTNL, NBCC (India), Rossell India, Ruchi Soya Industries

Pledge Share Details

Adani Enterprises: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 9.85 lakh shares on June 25.

Adani Transmission: Promoter group (Gautam Adani and Rajesh Adani) revoked pledge of 5.50 lakh shares on June 25.

Aurobindo Pharma: Promoter K Nityananda Reddy created a pledge of 7 lakh shares on June 25.

Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 1.55 lakh shares on June 25.

Kalpataru Power Transmission: Promoter Kalpataru Properties created a pledge of 10.88 lakh shares. Promoter Kalpataru Constructions revoked pledge of 23 lakh shares between June 24-25. Promoter KC Holdings revoked pledge of 19.80 lakh shares on June 24

Insider Trades

Adani Green Energy: Promoter Infinite Trade and Investment bought 18 lakh shares on June 25.

Eris Lifesciences: Promoter Himanshu Shah sold 44,127 shares between June 24-25

Glenmark Pharmaceuticals: Promoter Glenn Saldanha bought 7,800 shares on June 23.

JSW Energy: Promoter Siddheshwari Tradex created a pledge of 30 lakh shares on June 24.

JK Cement: Promoter Ramapati Singhania sold 1,400 shares on June 25.

Karda Constructions: Promoter Prem Karda sold 3 lakh shares on June 25.

Lincoln Pharmaceuticals: Promoter Munjal Patel bought 50,000 shares on June 28.

MRF: Promoter Soma Philips sold 718 shares between June 24-25.

Man Infraconstruction: Promoter Parag Shah bought 2.50 lakh shares on June 25.

Olectra Greentech: Promoter LP Sashikumar sold 50,000 shares between June 23-25. Sterlite Technologies: Promoter Jyoti Agarwal sold 31,500 shares on June 25.

Titagarh Wagons: Promoter Titagarh Capital Management Services bought 4.76 lakh shares on June 22.

Who’s Meeting Whom

Indian Energy Exchange: To meet Monarch Networth Capital on June 29 and UBS Asset Management on June 30.

Rossari Biotech: To meet Rossari Biotech on June 29.

Money Market Update

The rupee ended at 74.19 against the U.S. Dollar on Monday as compared to Friday's closing of 74.18.

Trading Tweaks

Ex-Date Dividend: HDFC Bank, HDFC Asset Management Company, Sundaram Finance Holdings, Sagarsoft (India)

Ex-Date Final Dividend: Khaitan Chemicals & Fertilizers, Neuland Laboratories, Happiest Minds Technologies

Ex-Date AGM: Greenpanel Industries

Price Band Revised From 20% To 10%: Avadh Sugar & Energy, Uttam Sugar Mills

Move Out Of Short-Term ASM Framework: Ajmera Realty & Infra India

Move Into ASM Framework: Ajmera Realty & Infra India, Jet Airways (India)

RPower to sell Samalkot project equipment to cut debt - Business Line - https://www.thehindubusinessline.com/companies/rpower-to-sell-samalkot-project-equipment-to-cut-debt/article35019269.ece

#earnings on #Tuesday

Q4 RESULTS

FNO

IRCTC

CASH

BPL

DCM SHRIRAM

DREDGING CORP

E.I.D.-PARRY (

FINOLEX CABLES

GIC

GOCL Corporation

HOEC

Himadri Speciality Chemical

HUDCO

IRFC

KITEX GARMENTS

KRBL

NATIONAL PEROXIDE

NBCC

OMDC

RVNL

SUBROS

SUNTECK REALTY

We are waiting to source solar panels from Reliance: JSW Energy
Companies
Suresh P Iyengar

Updated on June 28, 2021
Prashant Jain, MD
Prashant Jain, MD
Tags:renewable energy solar JSW Energy Ltd

Spike in solar panel prices will have an impact on power tariffs in future bids, says Prashant Jain, Joint Managing Director, JSW Energy
After reducing debt substantially, JSW Energy has hit the growth button with a Rs 75,000-crore investment plan. The company has reduced receivables from power distribution companies by 38 per cent to Rs 1,300 crore as of March-end. With the revival in demand, the company is focusing on green energy for future expansion. Joint Managing Director, JSW Energy, Prashant Jain, spoke to BusinessLine on its future plans. Excerpts:

What are your expansion plans?
The board has approved capacity expansion by 20 GW by FY30 with investment of Rs 75,000 crore. During this quarter, we have signed a PPA (power purchase agreement) of 958 MW between JSW Steel and JSW Energy to supply green power by solar and wind energy. With this, our PPA portfolio will increase to 1260 MW. We will commission 2.5 GW of green power by FY’23. In all, we will be a 7 GW company by June 2023 and our renewal portfolio will increase from 33 per cent to 65 per cent. Thereafter, we will add fresh capacity of 2 GW every year.

*The Chinese dragon : An eye opener - by Rajiv Bajaj*

A couple of WhatsApp group that I am a member of should be renamed China problem groups. 90% of discussions is on how China hijacked the world economy and how they do not deserve to do so and how all politicians have let us down and how they are stealing all intellectual property and how we are doomed if we do not stop downloading tiktok.

All true. And no, this article is not about disagreeing with this narrative. This article is not about the fact that an average Chinese student in US beats the shit of all other students (including Indians) in terms of hours she works and the only disadvantage she has is that her English is not good enough, but she is getting there. No this article is not about the fact that the people of China worked their butts out while Italians holidayed and French wanted a 4 day week. No this article is not about the fact that you cannot hire a decent machinist or a forger in India because all of them are sitting in call centers answering questions from technically challenged Americans. Of course, I agree and support the view that China and it’s people do not deserve the place they have reached (I don’t want to be trolled). They are thieves, they do not take 4-week holidays. They should be punished.

So what is this article about? This is about an industry where China has been beaten by India. It has been shown that it’s not the government, neither the people, it’s really the companies that compete. And as far as India is concerned the people responsible for the demise of manufacturing are these companies.

Year 1983, I pass out of Engineering college in Mumbai considered to be one of the best. Irrespective of the branch that you have studied—Mechanical, Electrical, Civil, Production, Textile, 80% become coders for the software industry. Year 2000, I am at Bajaj Auto as HR head (after working for 15 years as a technical person), and am off to conduct campus interviews, to hire 100 Engineers who will build the 100-cc engine of a motorcycle. I am day 5 in VJTI and all other RECs. I end up hiring 10 people from 15 colleges. In every college I am told by the Training and Placement officer (TPO) that technology companies get preference. I say I don’t understand, is building an Engine not technology? No that’s manufacturing. Writing Cobal code for a bank in New York by a TCS employee is technology. May be the Chinese forced us to do this.

Next year I write to all colleges. I want to be day 0 in your campus. I will give three times salary of the best “so called technology company”, but only if I am day 0. Hiring 100 Engineers at three times salary was no problem for me as compared to TCS, which had to hire 2000 “Bodies”. They could never match that salary.
And that’s how Bajaj Auto built its R&D. Batch by Batch. Making designing and manufacturing of motorcycles sexy and paying for it. The selection ratio was 1:15. Most of the IITs, RECs, and VJTIs had toppers who were absolutely useless. They could not draw a Carnot cycle, could not tell the difference between a diesel and petrol engine. Give them an elevation and plan they could not draw the side view. Most of them were focusing on writing code. But we found gems, we found guys who were passionate and knowledgeable but could not express in English. I started conducting interviews in Hindi, Marathi, Telugu, Tamil and so on.

There was another company doing the same TVS. South based they also built a great R&D.

Year 2005, Chinese motorcycles attacked India with products which were 30% cheaper. Many dealers started selling them. Press predicted demise of Indian manufacturers. Within 6 months they went broke. Their quality was no match to Indian motorcycles. They never came back again.

Bajaj then started attacking them in Africa. Africans had two choices; buy expensive Japanese motorcycles or cheap Chinese. Chinese motorcycles used to come in a box. You buy the box and take it to a mechanic and he will assemble it. In Nigeria motorcycles are used as taxis. So no one is going to pay you a dime more.

*SERNET Midnight News Update – Jun 29th 2021*

Corporate India was almost unanimous in welcoming the COVID 4.0 stimulus announced by Nirmala Sitharaman on 28 June. The relief package included Rs.110,000 crore loan guarantee scheme for affected sectors as well as increasing the scope of ECLGS by Rs.150,000. The big decision to boost tourism demand was to offer free tourist visas to 5 lakh tourists in FY22. There has also been a major allocation to aiding health and also on public health infrastructure. The entire package will entail an additional $84 billion.

IPO listings continued to be robust on Monday after Shyam Metalics and Sona BLW reported stellar listings in the previous week. On Monday, Dodla Dairy listed at a premium of 28% but extended gains and closed with listing gains of nearly 48% on 28 June. KIMS also debuted on 28 June at a 22% premium over its issue price of Rs.825, but gave up 10% from higher levels on profit booking. Most Dalal Street experts have been suggesting to book profits in these IPOs after the stellar listing as short-term upsides would be capped.

SAT did an encore on Monday providing interim relief to Franklin Templeton Mutual Fund by partly staying the SEBI order. SAT stayed SEBI’s order banning Templeton from launching new debt schemes for 2 years. Against the disgorgement of Rs.512 crore, SAT allowed Templeton MF to deposit just Rs.250 crore upfront. However, SAT has reserved its final order. The SAT has termed SEBI’s directive to disgorge Rs.512 crore as being excessive. SAT posted the matter for final disposal on 30-Aug. FT MF has to respond in 4 weeks.

Hyderabad based Power Mech Projects secured Rs.9,294 crore Mine Development and Operation or MDO project from Central Coalfields Limited. This is part of the GOI’s asset monetisation drive. Coal India and NLC India will offer 60 projects worth Rs.41,042 crore for private investment; including 17 MDO projects. Central Coalfields is one of 7 subsidiaries of Coal India. The MDO contract will entail mine development, removal of overburden as well as extraction of coking coal. This will diversify Power Mech’s order book.

Finolex Industries rallied 15% on Monday to hit a new high of Rs.198.90 on the back of robust quarterly results. Finolex posted a 5-fold spurt in net profit at Rs.297 crore in the Mar-21 quarter on solid EBITDA margins in the quarter. Finolex is a backward integrated manufacturer of PVC pipes and fittings. For the Mar-21 quarter, Finolex reported 63% higher net sales at Rs.1,249 crore and a boost to EBITDA margins from 13.6% to 33.9% in Q4-2021. The company has announced a stock split, which is normally positive.

Standard Life, one of the original promotes of HDFC Life Insurance, plans to sell its 3.46% stake worth nearly Rs.4,606 crore. Currently, Standard Life Mauritius holds 8.88% in the joint venture. The shares are being offered in the range of Rs.658 to Rs.678, which represents a discount of up to 5.5% to the current market price of Rs.696. Standard Life has been selling down its stake in HDFC Life for quite some time now. In fact, it had sold a total of 3.37% stake in 2 tranches in June 2020 and later in December 2020.

SEBI has decided to keep the proposed IPO of Aditya Birla Sun Life AMC in abeyance for the time being, although no reason has been proffered for the same. It was structured as an offer-for sale where Aditya Birla Capital would offer 28.51 lakh shares and Sun Life AMC was to offer 3.6 crore shares in the OFS. At indicative valuations of the sector, the issue would have been worth up to Rs.2,000 crore. It would have been the fourth AMC to list after Nippon Life AMC, HDFC AMC and UTI Asset Management Company.

Emami has increased its stake in Helios Lifestyle from 33.09% to 45.96%. Helios is a direct-to-consumer start-up that sells male grooming products under branding of “The Man Company”. The idea was to help leverage the online franchise more effectively.

Helios manufactures premium male grooming products including face wash, scrubs, beard oils, shampoos and after-shave lotions for men. India’s male grooming market is estimated at Rs.14,000 crore and growing at a compound annual growth rate of 15.14% till 2024.

*Good Morning*

India Expands Credit Relief, Unveils New Covid Recovery Aid

Modi: Steps to stimulate India economy, boost output, export

India Top Court Agrees to Hear SBI Plea on Telecom Airwaves Sale

India’s IOC Increases Crude Processing as Fuel Demand Rebounds

Cotton Group Urges Indian Government to Abolish 10% Import Duty

Talcher Fertilizers to Borrow INR95.6B From Banks Led by SBI

India Cumulative Monsoon Rainfall 16% Above Normal at June 28

Emerging- Market ETFs Lure More Cash as Streak Nears $50 Billion

Global Funds Sell Net INR16.6B of India Stocks on Monday: NSE

Domestic funds buy net 12.8b rupees of stocks

Foreign Investors Sell Net INR1.79B of India Equities on June 25

Foreigners Sell Net INR2.13B of India Equity Derivatives Monday

India Shifts 50,000 Troops to China Border in Historic Move

Situation at border with India generally stable: China: PTI

Grofers Plans Stake Sale to Zomato, Tiger Global, CNBC-TV18 Says

India Court Stays SEBI Order on Franklin India Debt Funds: PTI

Sebi keeps Aditya Birla Sun Life’s IPO in abeyance: PTI

Banks need to operate on lower margins: SBI official: PTI

Hindustan Aeronautics (HNAL): 4Q net income 16.1b rupees vs. 12.4b y/y; revenue +4.1% y/y to 107.4b

National Aluminium (NACL): 4Q net income 9.36b rupees vs. 1.03b y/y, beats est. 3.05b; revenue +45% y/y to 28.2b

Piramal Enterprises (PIEL): Approves allotment of shares at INR1,300 apiece to CCD holders

Sharika Enterprises (SHARIKA): Wins order from Indian Oil (IOCL) for bio-gas plant under SATATScheme