Benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty pared early gains to close marginally lower in highly volatile trade on Thursday due to losses in Larsen &amp; Toubro and cautious trading ahead of the release of domestic inflation data. The 30-share BSE Sensex declined 35.68 points or 0.06 per cent to settle at 61,904.52 after hitting the crucial 62,000 mark in opening deals. During the day, it hit a low of 61,823.07 and a high of 62,168.22. The NSE Nifty dipped 18.10 points or 0.10 per cent to end at 18,297. Among the Sensex firms, Larsen &amp; Toubro tumbled over 5 per cent after the firm said its Non-Executive Chairman A M Naik has decided to step down from the post. ITC, Bharti Airtel, Reliance Industries, Infosys, Tata Steel, Tech Mahindra and Tata Consultancy Services were the other laggards. However, Asian Paints rose the most by 3.22 per cent after it posted a 43.97 per cent growth in consolidated net profit to Rs 1,258.41 crore for the fourth quarter. Hindustan Unilever, NTPC, IndusInd Bank, UltraTech Cement and Maruti were the gainers. Vinod Nair, Head of Research at Geojit Financial Services said, "The gains in the domestic market were tempered by weak earnings reported by a few heavyweight companies. On the global front, markets remained positive as US inflation eased below 5 per cent, providing reassurance to investors that the Fed's rate hike measures have been effective in managing inflation levels" In Asia, Seoul, Shanghai and Hong Kong markets ended lower while Tokyo settled in the green. Markets in Europe were trading in the green. The US market ended mostly in negative territory on Wednesday. Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they bought equities worth Rs 1,833.13 crore, according to exchange data. Meanwhile, global oil benchmark Brent crude jumped 0.93 per cent to USD 77.12 per barrel. The BSE benchmark had climbed 178.87 points or 0.29 per cent to settle at 61,940.20 points on Wednesday. The Nifty gained 49.15 points or 0.27 per cent to end at 18,315.10 points. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sajjan-jindal-led-jsw-infra-would-be-the-third-group-company-to-go-public/slidelist/100156198.cms">JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/income-tax-department-raids-freshly-listed-mankind-pharmas-premises-over-alleged-tax-evasion/articleshow/100155544.cms">Income Tax department raids freshly listed Mankind Pharma’s premises over alleged tax evasion</a>

Stock markets in choppy waters, L&T drags Sensex to close lower

<ul><li>Rise in valuations could have made investors stay away from fresh investments or take advantage of the rally, said Sriram BKR, senior investment strategist at Geojit Financial Services.</li><li><keyword id="151916" type="General" weightage="20" keywordseo="debt-mutual-funds" source="Orion">Debt mutual funds</keyword> saw overall net inflows of ₹1.06 lakh crore in April.</li><li>Analysts believe that the interest in debt mutual funds is due to increased investor interest in <keyword id="1015516" type="General" weightage="20" keywordseo="fixed-income-products" source="Orion">fixed income products</keyword>.</li></ul>Inflows into the <keyword id="6361918" type="General" weightage="20" keywordseo="equity-mutual-funds" source="Orion">equity mutual funds</keyword> hit a four-month low in April, as investors booked profits after a rally in March. As per data by Association of Mutual Funds in India (AMFI), inflows into MFs slumped 68% to ₹6,480 crore in April as compared to March when they were at ₹20,534 crore. The last time the inflows were lower than April were in November 2022, when the flows stood at around ₹2,258 crore. Benchmark index Sensex rallied nearly 4% in the month of April leading for investors to book profits. “The dip in net flows could be attributed to a sharp drop in gross purchases month-on-month at -34% and a steady rise in redemptions at 9% month-on-month. The rise in valuations could have made investors stay away from fresh investments or take off some money to take advantage of the rally,” said Sriram BKR, senior investment strategist at Geojit Financial Services. Inflows in the equity mutual funds during April were led by <a href="https://www.businessinsider.in/stock-market/news/mutual-funds-raise-bets-on-mid-small-cap-stocks-amid-volatile-markets/articleshow/98516460.cms">consistent flows in small and mid cap funds </a>at ₹2,182 crore and ₹1,790 crore respectively. Some experts are optimistic that the net inflows would pick up in the next few months as April is relatively a quiet month. "It is encouraging that the flows have remained positive in April. Historically, April is a relatively quiet month after the hectic activity in March. So not too much should be read into the net flows being lower compared to March. We are confident that the momentum will pick up in the coming months,” G Pradeepkumar, CEO at Union Asset Management Company said. Investors prefer fixed income products over equity funds amid volatility On the other hand, debt mutual funds saw overall net inflows of ₹1.06 lakh crore in April due to strong flows in liquid funds that received inflows of ₹63,219 crore, followed by money market funds at ₹13,960 crore. In March, debt MF saw outflows of ₹56,884 crore. Analysts read the strong inflows in debt funds as increased investor interest in fixed income products than in equity funds that are facing volatility. “Also, the data for April 2023 shows that investors preferred fixed income as a preferred choice of investment than equity oriented options,” added Sriram. Further, in April, the contribution of retail investors through SIPs fell to ₹13,727 crore from ₹14,276 crore in March. In March SIP flows had hit an all-time high crossing the ₹14,000 crore mark after inflows of ₹13,686 crore in February and ₹13,856 crore in January. Meanwhile, gold ETFs saw inflows of ₹124 crore in April as compared to outflows of ₹266 crore in March given <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword> have been rising. Other ETF categories saw inflows of ₹6,790 crore as this includes silver ETFs as well which has gained a huge traction after a jump in <keyword id="85550" type="General" weightage="20" keywordseo="silver-prices" source="Orion">silver prices</keyword>. In March, other ETFs categories saw outflows of ₹330 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sajjan-jindal-led-jsw-infra-would-be-the-third-group-company-to-go-public/slidelist/100156198.cms">JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/income-tax-department-raids-freshly-listed-mankind-pharmas-premises-over-alleged-tax-evasion/articleshow/100155544.cms">Income Tax department raids freshly listed Mankind Pharma’s premises over alleged tax evasion</a>

Inflows into equity mutual funds hit a 4-month low in April: AMFI

<ul><li>Benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade on Thursday despite mixed cues in global markets. </li><li>The gains in morning trade were led by banking and metal stocks, while FMCG and IT stocks were flat. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 0.25% or 44 points early in the morning today. </li></ul>Benchmark indices Sensex and Nifty50 edged up in morning trade on Thursday despite mixed cues in global markets. The gains in morning trade were led by banking and metal stocks, while FMCG and IT stocks were flat. While the 30-stock Sensex was up 0.14% or 84 points to 59,651, the 50-stock Nifty50 was up 0.07% or 13 points to 17,631. Adani Ports, L&amp;T and Titan Company were amongst the top gainers. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.60% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.68% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.23% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.05% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan Company </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.20% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.17% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.74% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.68% </td></tr></tbody></table> Source: NSE, as on April 20, 2023 Earlier on Wednesday, markets extended their losing streak for the third consecutive day, with both Sensex and Nifty50 losing over 0.2% due to selling in IT and banking stocks. Gold and crude oil prices continued to simmer down – while gold prices fell 0.32% to ₹60,296 per 10 grams, Brent crude oil price fell 0.81% to $82.45 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Investor sentiments in markets globally were mixed, reflecting in sideways movement in both the US as well as Asian markets. In the US, Dow Jones fell 0.23% while S&amp;P 500 and Nasdaq were flat. Asian markets showed similar trends on Thursday morning, with Nikkei 225 up 0.09% while Hang Seng was flat. Shanghai Composite fell 0.68%, while KOSPI fell 0.39% and Taiwan Weighted was down 0.19%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>: The automaker’s subsidiary Jaguar Land Rover will invest 15 billion pounds over the next five years in electric vehicles. Tata Communications: The company has reported a 10.7% on year decline in consolidated profit at ₹326 crore for March quarter while revenue grew by 7.2% on year to ₹4,569 crore. <keyword id="6355596" type="General" weightage="80" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>: The cement maker has announced it has commissioned 2.2 million tonnes per annum brownfield expansion at its grinding unit at Patliputra, Bihar. With this, the units grinding capacity has increased to 4.7 mtpa. Titan: With rising gold prices, Titan’s jewellery arm Tanishq has planned to reinstate its advanced booking option allowing buyers to lock in the price of the yellow metal ahead of Akshaya Tritiya on April 22. Adani Ports &amp; SEZ: The company’s board will meet on April 22 to consider a partial buyback of its certain debt securities effective this financial year. Earnings today: HCL Technologies, ICICI Prudential Life Insurance, Cyient, Sterling and Wilson Renewable Energy, Reliance Industrial Infrastructure, Oriental Hotels are among companies to release their March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomatos-cost-control-efforts-are-hurting-the-startup-strike-at-blinkit-to-hurt-revenues-by-1/articleshow/99609906.cms">Zomato's cost control efforts are hurting the startup: Strike at Blinkit to hurt revenues by 1%</a> <a href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

Sensex, Nifty50 edge up in morning trade led by banking and metal stocks

Asian Paints on Thursday posted a jump of 45.11 per cent in its net profit to Rs 1,268.41 crore for the quarter ended March 31, 2023, against Rs 874.05 crore in the year-ago period. Revenue from sales went up 10.91 per cent to Rs 8,750.85 crore, against Rs 7,889.94 crore in the year-ago period. Revenue from operations rose 11.33 to Rs 8,787.34 crore, against Rs 7,892.67 crore during the corresponding period in the previous year. Total expenses of the firm rose marginally 7.55 per cent to Rs 7,181.66 crore in the quarter under review, against Rs 6,677.11 crore. The company said the economic crisis in Sri Lanka had led to currency devaluation resulting in the recognition of an expense of Rs 24.21 crore towards exchange loss arising on foreign currency obligations of <keyword id="4181364" type="General" weightage="20" keywordseo="Causeway-Paints-Lanka" source="Orion">Causeway Paints Lanka</keyword> for the quarter ended June 30, 2022. The above expense is disclosed as anexceptional item in the consolidated financial results for the year ended March 31, 2023. The company said it forayed into new Home Decor products and services propelling its transition from 'share of surface' to 'share of space'. It said Home Decor business has strong synergy with the Group's core business and hence is an essential part of the Group's strategy. "Considering the interlinked nature of products and services offered and the type of customers served, the resources are allocated across the Group interchangeably andbusiness performance is reviewed as one segment," the company said in a statement shared with exchanges. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sajjan-jindal-led-jsw-infra-would-be-the-third-group-company-to-go-public/slidelist/100156198.cms">JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/income-tax-department-raids-freshly-listed-mankind-pharmas-premises-over-alleged-tax-evasion/articleshow/100155544.cms">Income Tax department raids freshly listed Mankind Pharma’s premises over alleged tax evasion</a>

Asian Paint net profit jumps 45% in fourth quarter

<ul><li>Serum Institute of Life Sciences had invested $150 million in <keyword id="8144461" type="General" weightage="20" keywordseo="biocon-biologics" source="Orion">Biocon Biologics</keyword> in November 2022.</li><li>As per their new arrangement, Biocon Biologics will have access to 100 million doses of vaccines, annually.</li><li>Biocon Biologics will also get distribution rights to Serum’s Vaccine portfolio.</li></ul>The Serum Institute of Life Sciences said on Tuesday that it will invest another $150 million in Biocon Biologics. This is its second investment into the company, as it had invested $150 million in November 2022. As per the new arrangement, Biocon Biologics will have access to 100 million doses of vaccines annually. It will also receive the distribution rights to Serum’s vaccine portfolio which will add to Biocon Biologics’ product portfolio, for global markets. Serum Institute of Life Sciences is a unit of <keyword id="95879" type="General" weightage="20" keywordseo="serum-institute-of-india" source="Orion">Serum Institute of India</keyword>, the country’s largest vaccine maker. Biocon Biologics is a subsidiary of <keyword id="6413985" type="General" weightage="20" keywordseo="kiran-mazumdar-shaw" source="Orion">Kiran Mazumdar-Shaw</keyword> run Biocon. Biocon Biologics and Serum Institute of Life Sciences agreed to withdraw their original deal announced in September 2021, and have announced a new transaction instead. “Biocon Biologics Limited (BBL) and Serum Institute of Life Sciences (SILS) have reached an agreement to withdraw from the original equity structure contemplated under their Strategic Alliance announced in September 2021,” said Biocon in an exchange filing. “As per the new terms of the strategic alliance, Serum Life Sciences would make an additional equity investment of $150 million through the conversion of the $150 million loan provided to Biocon Pharma Limited, a Wholly Owned Subsidiary of Biocon Limited, into equity in BBL,” said the release. For the merger, Biocon has received approval from the National Company Law Tribunal (NCLT) in Karnataka. Serum Life Sciences is awaiting approval from the NCLT in Maharashtra. After this, Serum Life Sciences will become a stakeholder in Biocon. The filing did not mention the did not mention the amount of stake Serum would hold in Biocon Biologics under the new agreement. As per the September 2021 deal, it had offered a 15% stake in Biocon Biologics to Serum Institute of Life Sciences. In the past few years, Biocon Biologics has received investments from four investors including Abu Dhabi sovereign wealth fund ADQ, Goldman Sachs, Tata Capital Growth Fund and Indian PE True North. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/icici-bank-vs-hdfc-bank-how-indias-top-two-private-lenders-have-performed-in-q4/articleshow/99733618.cms">ICICI Bank vs HDFC Bank: How India’s top two private lenders have performed in Q4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharmas-ipo-here-are-10-things-you-need-to-know-before-you-subscribe/slidelist/99748274.cms">Mankind Pharma’s IPO opens – Here are 10 things you need to know before you subscribe</a>

Serum Institute of Life Sciences to invest additional $150 million in Biocon arm

Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent <keyword id="45663" type="General" weightage="20" keywordseo="revenue" source="Orion">revenue</keyword> growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help <keyword id="583484" type="General" weightage="20" keywordseo="Paint-companies" source="Orion">paint companies</keyword> maintain healthy balance sheets, which will also buffer credit profiles despite the rising capex, <keyword id="6359483" type="General" weightage="100" keywordseo="crisil" source="Orion">Crisil</keyword> said in a report on Wednesday. The top five companies have announced Rs 12,000 crore capex in fiscal 2023 and 2024 on the back of Rs 7,000 crore they incurred in the previous four fiscals. New players are expected to add nearly one-third of the total existing capacity of 4.2 billion litres by fiscal 2025-end, the report added. Paint companies are likely to close <keyword id="4131553" type="General" weightage="20" keywordseo="FY23" source="Orion">FY23</keyword> with a robust 18 per cent revenue growth, primarily led by higher realisations on the back of a 6 per cent price hike during the year, along with the full impact of a 20 per cent price hike effected in the third quarter of FY22. Along with healthy volume growth, moderating crude-linked input prices will ensure operating margins to remain stable at 15-16 per cent in fiscal 2024, almost similar to the last fiscal, the agency said in the report based on the five top companies that account for 90 per cent of the Rs 65,000-crore industry or 4.2 billion litres annual capacity now. The report also said their near debt-free balance sheets will support credit risk profiles despite all major paint companies being on an aggressive capex spree. The domestic paints sector also comprises the decorative segment, which commands 80 per cent of the market. According to Anuj Sethi, a senior director at the agency, paints demand normally grows at 1.6x-2x of GDP. Decorative paints are likely to see a revenue increase of 11-12 per cent this fiscal, driven by increasing renovation/construction activity and a greater preference for branded products. On the other hand, industrial paints will see 8-9 per cent revenue growth on the back of higher government spending on infrastructure and steady demand from the automotive segment, Sethi added. Since the key raw materials are crude-linked derivatives, the 30 per cent fall in <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> prices from a high of USD 115 per barrel in June-July 2022 to USD 85 per barrel now will help boost the operating margins. But this will be largely offset by higher selling expenses due to aggressive sales push and increase in ad spend by industry leaders to counter competition from new entrants. Another margin risk is the falling rupee, which the agency sees trending at 82-83 a dollar, up from 80.2 in FY2023, impacting the cost of imported materials, which account for a third of overall their raw material requirements. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-chrome-alternatives-for-privacy-conscious-ios-and-android-users/articleshow/99614789.cms">These web browsers are the best alternatives to Google Chrome for privacy-conscious iOS and Android users</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

Paint companies to log 10-12% growth in revenue this fiscal: Crisil

In a major development, the <keyword id="64630" type="General" weightage="20" keywordseo="Indian-Commercial-Pilots-Association" source="Orion">Indian Commercial Pilots Association</keyword> (ICPA) and the <keyword id="64606" type="General" weightage="20" keywordseo="Indian-Pilots-Guild" source="Orion">Indian Pilots Guild</keyword> (IPG) of <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword> have rejected the new pay structure proposed by the airline. The primary bone of contention is the reduction in flying allowance from 70 hours to 40 hours every month under the new structure, which the pilots believe is unfair. The two unions have warned of possible 'industrial unrest' if the management goes ahead with the new terms without their consent. While Air India has stated that it will "continue to engage with the remainder of its staff", the airline has taken a tough stance on the issue, saying that there are "no recognised unions in Air India". This is the first wage revision offered by the Tata group-owned Air India since its takeover last year, and it will affect all 3,000 pilots across its four airlines - Air India, <keyword id="6378232" type="General" weightage="20" keywordseo="Air-India-Express" source="Orion">Air India Express</keyword>, <keyword id="1625599" type="General" weightage="20" keywordseo="Air-Asia-India" source="Orion">Air Asia India</keyword>, and <keyword id="2467342" type="General" weightage="20" keywordseo="Vistara" source="Orion">Vistara</keyword>. The pilots' unions have instructed their members to reject the new employment conditions and wage structure offered by the management. An agreement has been put in place for the employees to sign by April 25, but the two unions have stated that they will contest the terms and conditions, with their pilots refusing to sign the revised employment and compensation terms. The two unions have warned of potential industrial unrest if the company takes any coercive or victimising action against their members. In a joint statement, the unions stated that the company reiterated that "all previous understandings, representations and agreements of whatever nature that have been entered into with us are null &amp; void and that the company further has the right to change any terms and conditions". "The term cost to the company for an assumed flying of 70 hrs is deliberately misleading and creates an impression of a generous compensation and accompanying benefits package. The actual guaranteed money being offered is only for 40 hrs. Effectively, any time a pilot is on leave or is unavailable due to recurrent training requirements or document/licence renewals, not to mention any sick leave, there is an automatic pay cut involved," the statement read. "The so-called rationalisations of allowances is not in line with any industry practices as projected by HR. Further, blanket consent is sought for any leave or insurance policy that the company may come up with &amp; which is subject to amendment or outright withdrawal. "Suffice it to say that this is not an all-inclusive list but merely a selection of some of the most outlandish and labour-hostile provisions that we have come across to date. This is dishonourable and how the management is trying to force it down the employees' throats is outright unethical," it added. "Nor has the blatant attack on our rights as workmen to bargain collectively or seek legal redressal for any injustice or victimisation gone unnoticed. Where is the company requirement all of a sudden to forcibly promote almost all the permanent workmen of the union to the so-called Senior Commander management cadre? It is clear from all this that there is a concerted effort to gut the unions and isolate pilots into individual boxes where they can be exploited and victimised at will by the HR department," the statement said. Meanwhile, Air India's spokesperson has defended the new compensation structure, which includes parity among different groups, recognition of managerial and supervisory roles for experienced pilots, and individual contracts sent to pilots and cabin crew for necessary paperwork. "The managerial and supervisory role played by the experienced pilots is also being recognised in the form of designating them as Senior Commander as also offering them a special monthly allowance. The contracts reflecting these enhancements were individually sent to the pilots and cabin crew for necessary paperwork," said the spokesperson. The spokesperson also claimed that a large number of pilots and cabin crew have already accepted the new contracts, and the salary improvements and advancement opportunities they enable. "The airline will continue to engage with the remainder of its staff through this process as currently there is no recognised union in Air India," the spokesperson said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-to-be-driven-by-sustained-momentum-in-retail-business-o2c-to-see-modest-growth/articleshow/99629278.cms">RIL’s Q4 to be driven by sustained momentum in retail business, O2C to see modest growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

Air India pilots' unions reject proposed pay structure, warn of industrial unrest

<ul><li>The announcement was made by Chief Minister <keyword id="2458540" type="General" weightage="80" keywordseo="manohar-lal-khattar" source="Orion">Manohar Lal Khattar</keyword> while addressing on the occasion of a blood donation camp organised by Samaras Hindu Manch. </li><li>The necessary medical tests for their health check-up will also be free-of-cost. </li><li>Khattar added that the <keyword id="6199405" type="General" weightage="20" keywordseo="Ayushman-Bharat" source="Orion">Ayushman Bharat</keyword> scheme has been implemented to provide medical treatment facilities to the poor. </li></ul> In <keyword id="41646" type="General" weightage="50" keywordseo="haryana" source="Orion">Haryana</keyword>, people suffering from <keyword id="64819" type="General" weightage="100" keywordseo="thalassemia" source="Orion">thalassemia</keyword> will be given ₹ 2,500 per month and the necessary medical tests for their health check-up will also be free-of-cost so that the cost burden of treatment is not borne by the family members. This announcement was made by Chief Minister Manohar Lal Khattar while addressing on the occasion of a blood donation camp organised by Samaras Hindu Manch in Gurugram on the birthday of Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. On behalf of the people of the state, Khattar extended warm greetings to Modi on the occasion of his 72nd birthday. The Chief Minister boosted the morale of the thalassemia-affected children and their families present in the camp. He also got clicked for a group photo with them. On this occasion, Khattar also distributed cards among 125 children suffering from thalassemia through which they can get their blood tests done along with other tests like MRI etc. at free-of -cost for one year by the Municipal Corporation of Gurugram. He said thalassemia is a serious disease in which a person's blood has to be changed after a period and its treatment is expensive. The Chief Minister added that the Ayushman Bharat scheme has been implemented to provide medical treatment facilities to the poor, and is a combined scheme of the Central and state governments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/domestic-discord-addiction-the-top-causes-of-suicides/articleshow/94269978.cms">Domestic discord, addiction the top causes of suicides</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/sustainability-forum-shifting-gears-evaluating-the-road-to-sustainable-mobility/articleshow/94248881.cms">Sustainability forum: Shifting gears — ‘EV’aluating the road to sustainable mobility</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharma-files-papers-for-an-ipo/articleshow/94249464.cms">Condom maker Mankind Pharma files papers for an IPO</a>

Thalassemia patients to get ₹ 2,500 per month in Haryana

<keyword id="644986" type="General" weightage="20" keywordseo="heatwaves" source="Orion">Heatwaves</keyword> in India are becoming more frequent and severe due to climate change, with over 90 percent of the country in the "extremely cautious" or "danger zone" of their impacts, according to a new study. The study, conducted by Ramit Debnath and colleagues at the University of Cambridge, also revealed that Delhi is particularly vulnerable to severe heatwave impacts, though its recent state action plan for climate change does not reflect this. It suggested that heatwaves have impeded India's progress towards achieving the United Nations' Sustainable Development Goals (SDGs) more significantly than previously thought, and that the current assessment metrics may not fully capture the impacts of heatwaves linked to climate change on the country. Heatwaves claimed more than 17,000 lives in 50 years in India, according to a paper authored by M Rajeevan, former secretary of Ministry of Earth Sciences, along with scientists Kamaljit Ray, S S Ray, R K Giri and A P Dimri. The paper published in 2021 said there were 706 heatwave incidents in the country from 1971-2019. Thirteen people died from heatstroke at a Maharashtra government award function in Navi Mumbai on Sunday, making it one of the highest death tolls from a single heatwave-related event in the country's history. To assess India's climate vulnerability and the potential impact of climate change on SDG progress, researchers at the University of Cambridge conducted an analytical evaluation of the country's <keyword id="3973983" type="General" weightage="20" keywordseo="heat-index" source="Orion">heat index</keyword> with its climate vulnerability index. The heat index (HI) is a measure of how hot it feels to the human body, taking into account both temperature and humidity. The climate vulnerability index (CVI) is a composite index that uses various indicators to account for socioeconomic, livelihood, and biophysical factors to study the impact of heatwave. The researchers accessed a publicly available dataset on state-level climate vulnerability indicators from the government's National Data and Analytics Platform to classify severity categories. They then compared India's progress in SDGs over 20 years (2001-2021) with extreme weather-related mortality from 2001-2021. The study showed that more than 90 percent of India is in the "extremely cautious" or "danger" range of heatwave impacts through HI, otherwise considered "low" or "moderate" vulnerability through CVI. States that were categorized as "low" in CVI rankings were found to be in "danger" HI categories, indicating that heatwaves put more people at extreme climate risk across India than estimated by CVI. The authors concluded that the use of CVI may underestimate the actual burden of climate change concerning heat, and suggested that India should consider reassessing its climate vulnerabilities to meet the SDGs. They warned that if India fails to address the impact of heatwaves immediately, it could slow progress towards achieving sustainable development goals. The study also highlighted that the current heat-action plans designed and implemented according to the Delhi government's vulnerability assessment do not include HI estimations, which is concerning since even the "low" climate-vulnerable areas in Delhi are at high heatwave risks. The high intensity of development in Central, East, West, and North-East districts can further elevate the HI risks through heat island formation, it said. The authors said some of the critical variables in Delhi that will aggravate heat-related vulnerabilities include concentration of slum population and overcrowding in high HI areas, lack of access to basic amenities like electricity, water and sanitation, non-availability of immediate healthcare and health insurance, poor condition of housing and dirty cooking fuel (biomass, kerosene and coal). The threshold for a heatwave is met when the maximum temperature of a station reaches at least 40 degrees Celsius in the plains, at least 37 degrees Celsius in coastal areas, and at least 30 degrees Celsius in hilly regions, and the departure from normal is at least 4.5 degrees Celsius. Earlier this month, the India Meteorological Department predicted above-normal maximum temperatures for most parts of the country from April to June, except parts of the northwest and the peninsular regions. Above-normal heatwave days are expected in most parts of central, east, and northwest India during this period. In 2023, India experienced its hottest February since record-keeping began in 1901. However, above-normal rainfall in March kept temperatures in check. March 2022 was the warmest ever and the third driest in 121 years. The year also saw the country's third-warmest April since 1901. In India, about 75 percent of workers (around 380 million people) experience heat-related stress. A report by the McKinsey Global Institute warns that if this continues, by 2030, the country could lose between 2.5 percent to 4.5 percent of its Gross Domestic Product (GDP) per year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-to-be-driven-by-sustained-momentum-in-retail-business-o2c-to-see-modest-growth/articleshow/99629278.cms">RIL’s Q4 to be driven by sustained momentum in retail business, O2C to see modest growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

90% of India, entire Delhi in 'danger zone' of heatwave impacts: Cambridge study

<ul><li>Retail, QSR and banking, financial services and insurance sectors were the top three industries with the highest attrition rates of frontline workers.</li><li>The sector which saw the second highest rate of attrition is e-commerce, followed by banking and insurance sectors.</li><li>In FY22, around eight million frontline jobs were created in India with the highest contribution coming from the e-commerce sector.</li></ul>Retail and <keyword id="446951" type="General" weightage="20" keywordseo="quick-service-restaurants" source="Orion">quick service restaurants</keyword> have the highest rate of attrition in terms of frontline workers, according to a report by <keyword id="3156551" type="General" weightage="20" keywordseo="BetterPlace" source="Orion">BetterPlace</keyword>. The monthly <keyword id="505875" type="General" weightage="20" keywordseo="attrition-rate" source="Orion">attrition rate</keyword> for these sectors stood at 19% in FY22 – which means every month around a fifth of their employees are quitting. “These industries have also witnessed a huge surge in demand for their products and services during and post the pandemic. Since the demand is huge and processing times lean, they require workers in large numbers. The hectic nature of jobs and easy replaceability of workers can be the two major reasons why attrition is high in these industries,” said the report. The sector with the second highest attrition rate is ecommerce. That’s followed by banking and financial services and logistics and mobility. Facility management and IT together have had an attrition rate of 10% and it also ties with the manufacturing sector. Attrition rate, also known as churn rate, is the number of people who have left the company, divided by the average number of employees over a period of time. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail and QSR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">E-commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Logistics and mobility </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IFM and IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr></tbody></table>Source: BetterPlace report According to <keyword id="113282" type="General" weightage="20" keywordseo="Retailers-Association-of-India" source="Orion">Retailers Association of India</keyword>, the <keyword id="71937" type="General" weightage="20" keywordseo="Retail-sector" source="Orion">retail sector</keyword> employs over 45 million people. Over 5 million employees left their jobs or lost their jobs during the pandemic in the retail sector and the sector has come a long way since then; as Indians resumed their love for shopping in the last two quarters. The retail industry is bouncing back to pre-Covid levels and is currently on a hiring spree as large retail chains like Aditya Birla Fashion, Tata owned Trent, Shoppers Stop are expanding into smaller cities. <cmsannotation type="cmsannotation" annotationid="Sectors on a hiring spree due to high attrition" comment="subhead" text="Sectors on a hiring spree due to high attrition">Sectors on a hiring spree due to high attrition</cmsannotation> The report says that in FY22, around 8 million frontline jobs were created in India. E-commerce contributed the highest to these jobs, followed by logistics and mobility, according to the BetterPlace report. As retail consumption rose after the pandemic, the second quarter in FY22 saw a huge rise in demand for frontline workers because of a rapid increase in jobs in the delivery and retail segments. “India’s frontline workforce has been an essential cog in our economic machine, driving significant growth across sectors. As the economy is normalizing, we are seeing a resurgence in demand for frontline workforce and hence, the creation of jobs - eight million as per our data, and this will grow up to 50 million by the end of this decade,” said Pravin Agarwala, co-founder and group CEO at BetterPlace. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharma-files-papers-for-an-ipo/articleshow/94249464.cms">Condom maker Mankind Pharma files papers for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ujjivan-raises-475-crore-through-qip-strong-participation-from-quality-long-term-investors/articleshow/94245879.cms">Ujjivan raises ₹475 crore through QIP; Strong participation from quality long-term investors</a>

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

<ul><li>Indians buy <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> on <keyword id="126295" type="General" weightage="20" keywordseo="akshaya-tritiya" source="Orion">Akshaya Tritiya</keyword> as it is believed that the day symbolises good luck, success and fortune.</li><li>This year Akshaya Tritiya falls on April 22 and companies are offering multiple ways consumers can buy gold.</li><li>Gold has risen 15% since the last Akshaya Tritiya on May 3, 2022.</li><li><keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">Gold prices</keyword> scaled a record high of ₹61,660 per 10 gm on April 19, 2023 in Mumbai.</li></ul>Akshaya Tritiya also known as Akha Teej is a Hindu festival considered to be a highly auspicious and sacred day – and a good day to buy gold and properties. As per mythology, a number of events took place on Akshaya Tritiya, making it an auspicious day. For instance Maharishi Ved Vyasa, the author of Mahabharata, is believed to have started narrating the epic to Lord Ganesh on this day. This year Akshaya Tritiya falls on April 22, Saturday. And gold has risen 15% since the last Akshaya Tritiya on May 3, 2022, according to Quantum AMC. Gold prices hit a record high at ₹61,660 per 10 gm on April 19, 2023 in Mumbai. “This Akshaya Tritiya seems like an opportune time to load up your purchase as the macroeconomic backdrop and risk-reward dynamics seem to favour gold and the downside looks limited,” said Ghazal Jain, fund manager- alternate investments, Quantum AMC. The yellow metal is considered as a hedge against inflation and a safe haven compared to assets like equities, bonds and currencies. A mild recession and weaker earnings have historically been gold-positive. A further weakening of the dollar as inflation recedes could provide support for gold. The current uncertain macro environment triggered by the war between Russia and Ukraine, high inflation across the globe, rising interest rates and now the banking crisis in the US and Europe – all make a case for buying gold. “Domestic gold prices are derived from international gold prices. International gold prices are priced in US dollars and hence the dynamics of the US economy are big drivers of gold prices. Expectations of a monetary policy pivot by the Federal Reserve are gathering steam after a regional banking crisis in the United States made the economic impact of higher interest rates apparent,” said Jain. “Further deterioration in economic conditions could drive risk aversion, hurt risk assets and lead gold prices up,” she said. Soaring gold prices have led Titan’s jewellery arm Tanishq to reinstate its advanced booking option, allowing buyers to lock in the price of the yellow metal ahead of Akshaya Tritiya. It has also amplified its gold-exchange programme and introduced an affordable range of jewellery to woo consumers. From gold jewellery and coins to gold ETFs or exchange-traded funds, there are multiple ways in which one can invest in gold. Here are some ways to invest in gold: <keyword id="36023" type="General" weightage="20" keywordseo="Gold-coins" source="Orion">Gold coins</keyword> You can buy gold coins from MMTC-PAMP – a joint venture between Switzerland-based bullion brand PAMP SA and MMTC, a Government of India Undertaking. You can also buy them from non-government sources such as jewellers and bullion traders. <keyword id="2754241" type="General" weightage="20" keywordseo="Sovereign-gold-bonds" source="Orion">Sovereign gold bonds</keyword> Sovereign gold bonds (SGB), a substitute to physical gold, is a paper issued by the government that is denominated in terms of grams of gold. Basically, SGBs give investors an exposure to gold, but not in a physical form like gold bars or jewellery. The Indian government had initiated the investment options in 2015 as an alternative to owning physical gold. These bonds have a term of eight years with a lock-in period of five years. However, that does not necessarily mean that the investment needs to be compulsorily held till maturity. Investors can opt for premature redemptions. Additionally, gold bond investors have the option of selling the bonds anytime on the stock exchanges. Gold exchange-traded funds (ETFs) Gold ETFs are passive investment instruments that invest in gold bullion, and aim to track the domestic physical gold price. In other words, Gold ETFs are units representing physical gold which may be in paper or dematerialised form. ETFs reflect the current gold prices unlike physical gold prices, which vary across India depending on local taxes in each state, transportation cost and other related costs. Since ETFs are listed on an exchange, they offer high liquidity. You can buy or sell your holdings at any time during the day at the real-time price of gold. <keyword id="1024100" type="General" weightage="20" keywordseo="Gold-mutual-funds" source="Orion">Gold mutual funds</keyword> Gold mutual funds are a type of mutual fund that invest their corpus in various gold forms including physical gold and gold mining companies. The performance of gold funds is dependent on the movement of stock prices of these companies. Since gold mutual funds are actively managed by a fund manager, it has the potential to offer higher returns as compared to gold ETFs that mimic a market index. <keyword id="4465249" type="General" weightage="20" keywordseo="Digital-gold" source="Orion">Digital gold</keyword> It allows you to purchase the precious metal online, but eliminates the need to physically store it. Digital gold can be bought online through fintech platforms like Groww, Kuvera etc., and through brokers as well. The gold purchased as digital commodity will be stored in insured vaults by the seller on behalf of the customer. All you need is internet/mobile banking and you can invest in gold digitally anytime, anywhere. Moreover, you can invest an amount as low as ₹10. Here is how to invest in digital gold via fintech platforms: <ul><li>Signup on the fintech platform to start the investment</li><li>Enter an amount in rupees or grams</li><li>Complete the know-your-customer (KYC) process</li><li>Pay for the investment</li><li>Store your gold in a secured locker</li><li>Later, when you sell you can choose to sell your gold digitally on the platform or take physical delivery of the gold. You can request for a doorstep delivery of your gold in the form of coins or bullion. </li></ul> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-to-be-driven-by-sustained-momentum-in-retail-business-o2c-to-see-modest-growth/articleshow/99629278.cms">RIL’s Q4 to be driven by sustained momentum in retail business, O2C to see modest growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

Here are the many ways you can invest in gold this Akshaya Tritiya

<ul><li>Almost 100 countries are exploring <keyword id="6791630" type="General" weightage="20" keywordseo="CBDC" source="Orion">CBDC</keyword>s at one level or another. Some researching, some testing, and a few already distributing CBDC to the public, says the IMF.</li><li>Finance Minister Nirmala Sitharaman says that the digital currency will give a big boost to the digital economy.</li><li>The idea of issuing <keyword id="6472011" type="General" weightage="20" keywordseo="central-bank-digital-currency" source="Orion">central bank digital currency</keyword> was brought into action after every other country was piloting the digital currency after the wide popularity of <keyword id="2420795" type="General" weightage="20" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>.</li><li>Experts say CBDCs, <keyword id="6354947" type="General" weightage="20" keywordseo="bitcoin" source="Orion">bitcoin</keyword> and private coins etc are not same as the later ones are unregulated assets.</li></ul>The central bank digital currency (CBDC) is about to be launched this financial year in FY23, finance minister Nirmala Sitharaman had announced in her Budget speech on February 1. She had addressed that the digital currency will give a big boost to the digital economy. "Introduction of Central Bank Digital Currency (CBDC) will give a big boost to the digital economy. Digital currency will also lead to a more efficient and cheaper currency management system. It is, therefore, proposed to introduce Digital Rupee, using blockchain and other technologies, to be issued by the Reserve Bank of India starting 2022-23," said Sitharaman in a budget document. The idea of issuing central bank digital currency was brought into action after every other country was piloting the digital currency after the wide popularity of cryptocurrencies. According to the International Monetary Fund (IMF), almost 100 countries are exploring CBDCs at one level or another. Some researching, some testing, and a few already distributing CBDC to the public. Rabi Sankar, deputy governor at RBI says that while interest in CBDCs is near universal now, very few countries have reached even the pilot stage of launching their CBDCs. About 86% of centrals were actively researching the potential for CBDCs, 60% were experimenting with the technology and 14% were deploying pilot projects. What is Central Bank Digital Currency and is it similar to cryptocurrencies? A central bank digital currency (CBDC) is a digital currency issued by a central bank, which will be used for transactions similar to other physical currencies. “A CBDC is the legal tender issued by a central bank in a digital form. It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Only its form is different,” said Sankar in a report. On an important note, cryptocurrencies are private money, whereas CBDCs are government-backed forms of money The primary benefit of virtual currency is that with this, it is possible to record and track transactions easily. Although the concept of digital currency is inspired from <keyword id="15019207" type="General" weightage="20" keywordseo="private-virtual-currencies" source="Orion">private virtual currencies</keyword> like cryptocurrency it cannot be compared to these virtual currencies that do not have an underlying asset and are not legal tender as they are unregulated and decentralised. “CBDC is simply the physical rupee you have in your wallet purse today, it will be a digital representation of that physical note. And therefore most countries are exploring. The features and functions you have with a physical note today, the digital rupee will have the same features and function,” said Aman Cheema, head of global real-time payments and CBDCs at FIS in a conversation with Business Insider. Cheema says that there is a lot of confusion between CBDCs, Bitcoin and private coins etc as he says that CBDC is not bitcoin, which comes under unregulated assets. CBDC to be more cost effective than other payment alternatives Deputy governor of RBI T. Rabi Sankar recently said that CBDC could become a tool for reducing time and cost for cross-border transactions. “Imagine a UPI system where CBDC is transacted instead of bank balances, as if cash is handed over – the need for interbank settlement disappears. CBDCs would also potentially enable a more real-time and cost-effective globalization of payment systems,” said Sankar last year. Also, another cost effective benefit could be from replacing it with cash. India’s high currency to GDP ratio holds out another benefit of CBDCs. To the extent large cash usage can be replaced by CBDCs, the cost of printing, transporting, storing and distributing currency can be reduced. How will blockchain technology aid in the launch of CBDC? Blockchain is a type of ledger technology that stores and records data. Technologies like blockchain are considered by several countries exploring CBDC that will facilitate processing and settlement of financial transactions between end users of digital currency. Blockchain technology would allow RBI to track transactions and protect the privacy of CBDC users. Blockchain technology allows many different entities to hold a copy of the history of transactions. As a result, RBI and other central banks are exploring CBDC using this technology as transactions will be secure, safe, transparent with historic records. With this, the blockchain removes the need for intermediaries like banks to help with each transaction and cut down on costs. Meanwhile, the blockchain technology is already being used by hospitals to track medical record data and agricultural firms to track the supply chains of food. “FIS is launching a CBDC virtual lab, which is a digital money platform which will allow central banks and commercial banks to start to experiment what a CBDC could be in that market. I Think of it as an R&amp;D capability, which will allow central banks to say what if I were to design my CBDC and what it would be like and how it would work,” said Cheema. How does it benefit the Economy? CBDCs will benefit the economy with retail consumers being able to make easy, secure and fast payments. The IMF in a report titled ‘The future of money: Gearing up for central bank digital currency’ said that if CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money as compared to volatile crypto assets. Reports say CBDCs could also be scheduled to pay taxes or make other payments to the government as a part of routine transactions. “There are a number of triggers and drivers of why a nation wants to launch a CBDC that can range from use of cash being declining. But they still need to have an element of cash being circulated in the economy so digitising cash is a way to address that problem. Another trigger is to bring the nation into a wider digital economy and moving cash into digital format as an enabler to do that,” said Cheema. Countries using CBDC Most countries are currently exploring the idea of central bank owned digital currency for their nation. According to an IMF report, in the Bahamas, the Sand Dollar—the local CBDC—has been in circulation for more than a year. Sweden’s Riksbank has developed a proof of concept and is exploring the technology and policy implications of CBDC. In China, the digital renminbi [called e-CNY,] continues to progress with more than a hundred million individual users and billions of yuan in transactions. And, just last month, the Federal Reserve issued a report that noted that “a CBDC could fundamentally change the structure of the U.S. financial system”. Here are some key issues under examination by RBI before launching CBDC as per report by RBI deputy governor Rabi Sankar: <ul><li>The scope of CBDCs – whether they should be used in retail payments or also in wholesale payments</li><li>The underlying technology – whether it should be a distributed ledger or a centralized ledger, for instance, and whether the choice of technology should vary according to use cases</li><li>The validation mechanism – whether token based or account based</li><li>Distribution architecture – whether direct issuance by the RBI or through banks</li><li>Degree of anonymity etc. However, conducting pilots in wholesale and retail segments may be a possibility in near future. </li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/cheetahs-are-coming-back-this-can-boost-the-health-of-indias-shrinking-grasslands/articleshow/94243760.cms">Cheetahs are coming back – this can boost the health of India’s shrinking grasslands</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharma-files-papers-for-an-ipo/articleshow/94249464.cms">Condom maker Mankind Pharma files papers for an IPO</a>

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Here are the many ways you can invest in gold this Akshaya Tritiya

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