<ul><li><keyword id="13552161" type="General" weightage="100" keywordseo="dcx-systems" source="Orion">DCX Systems</keyword> is expected to announce its share allotment status today.</li><li>The shares of DCX Systems were subscribed by 69.79 times.</li><li>The shares will be listed on the stock exchanges on November 11.</li></ul>Bengaluru-based DCX systems, a manufacturer of electronic sub-systems and cable harnesses, is expected to announce the allotment status of its initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) today, that is November 7. The <keyword id="13552162" type="General" weightage="20" keywordseo="dcx-systems-ipo" source="Orion">DCX Systems IPO</keyword> opened on October 31 and closed on November 2. The price band for the IPO was ₹197 to ₹207 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the IPO was subscribed 69.79 times, receiving bids for 101.27 crore equity shares against 1.45 crore shares on offer. While the qualified institutional buyer portion was subscribed 84.32 times, the non-institutional investors portion was subscribed 43.97 times. The retail portion also witnessed good participation and was subscribed 61.77 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of DCX Systems are currently commanding a grey market premium (GMP) of ₹80 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="How to check DCX Systems IPO allotment status?" comment="subhead" text="How to check DCX Systems IPO allotment status?">How to check <keyword id="15429149" type="General" weightage="20" keywordseo="dcx-systems-ipo-allotment-status" source="Orion">DCX Systems IPO allotment status</keyword>?</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="15389327" type="General" weightage="20" keywordseo="dcx-systems-ipo-allotment" source="Orion">DCX Systems IPO allotment</keyword> status, visit the registrar’s website <a href="https://linkintime.co.in/IPO/public-issues.html">here</a>.</li><li>Click on ‘Select Company’ and then select ‘DCX Systems’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the DCX Systems IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE <a href="https://www.bseindia.com/investors/appli_check.aspx">website</a>.</li><li>On the website, click on 'Equity' and then select ‘DCX Systems’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>You will be able to see the number of shares allotted to you.</li></ul>You must click <a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification">here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="DCX Systems listing date" comment="subhead" text="DCX Systems listing date">DCX Systems listing date</cmsannotation> The shares of DCX Systems will be listed on the stock exchanges on November 11. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/dcx-systems-ipo-subscribed-69-79-times-on-last-day/articleshow/95258836.cms">DCX Systems IPO subscribed 69.79 times on last day</a> <a href="https://www.businessinsider.in/entertainment/news/shark-tank-season-2-is-here-but-popular-shark-ashneer-grover-is-missing-meet-the-new-shark/slidelist/95271549.cms">Shark Tank India S2 returns without Ashneer Grover, meet the new shark</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-electra-ev-raises-25-million-from-gef-capital-partners/articleshow/95291703.cms">Ratan Tata-backed Electra EV raises $25 million from GEF Capital Partners</a>

DCX Systems IPO allotment – How to check allotment status, listing date and more

It's Friday, Friday. <a href="https://www.youtube.com/watch?v=kfVsfOSbJY0" target="_blank" rel="noopener">Gotta get down on Friday</a>! <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> in NYC, and I'm wracking my brain wondering what Sam Bankman-Fried's <a href="https://www.businessinsider.com/sam-bankman-fried-sbf-got-attack-dog-secret-command-report-2023-1" target="_blank" rel="noopener">secret code word is for his attack dog</a>. Shoot me a <a href="https://twitter.com/dandefrancesco" target="_blank" rel="noopener">tweet</a> or an <a href="mailto:ddefrancesco@insider.com" target="_blank" rel="noopener">email</a> with your best guess. I'll include the best one in Monday's newsletter.Fun Fact Friday: Eggplants (or aubergines for the Europeans) <a href="https://www.businessinsider.com/fruits-and-vegetables-difference-2018-6#eggplant-7">are technically classified as berries.</a>On tap, we've got stories on a <a href="https://www.businessinsider.com/bofa-promoted-93-new-mds-in-global-markets-the-names-2023-1">new set of executives at Bank of America</a>, why one employee at NYSE is <a href="https://www.bloomberg.com/news/articles/2023-01-25/nyse-mayhem-traced-to-a-staffer-who-left-a-backup-system-running?sref=5xrDvJna">VERY nervous right now</a>, and <a href="https://www.businessinsider.com/the-10-best-least-bubbly-cities-for-homebuyers-in-2023-2023-1">some cities that you won't lose your shirt buying a house in.</a>But first, let's take a look under the hood.<hr />If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<hr /><a href="https://www.businessinsider.com/future-due-diligence-in-finance-wake-of-ftx-and-frank-2023-1" target="_blank" rel="noopener"></a>1. Mind if I double check that? In the long list of boring, behind-the-scenes stuff for deals to get done, due diligence ranks close to the top. The entire premise is a bit awkward: "Hey, you seem like a truthful person and I totally believe what you're saying ... But would you mind if I double-checked everything you just said about your company because you could be a liar and fraud? K, thxs."But it's important! Take the show "Shark Tank." <a href="https://www.forbes.com/sites/jemimamcevoy/2023/01/10/inside-the-secretive-world-of-shark-tank-deals-who-the-real-winners-are/?sh=5f7e8bd931cb">A recent analysis by Forbes</a> of 112 businesses offered deals on the show found that roughly half of them didn't close. One of the main reasons? Info uncovered during due diligence.The irony, of course, is that one of the most prominent Sharks — Kevin O'Leary, aka Mr. Wonderful — <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-sam-bankman-fried-crypto-ftx-crash-2022-11">is wrapped up in the FTX debacle</a>, a shining example of why strong due diligence matters. Which brings us to this story by Insider's Paige Hagy, Bianca Chan, and Carter Johnson <a href="https://www.businessinsider.com/future-due-diligence-in-finance-wake-of-ftx-and-frank-2023-1">examining the state of due diligence</a> in the wake of the FTX debacle and JPMorgan's Frank transaction, <a href="https://www.businessinsider.com/jpmorgan-ceo-jamie-dimon-speaks-out-frank-acquisition-huge-mistake-2023-1">which is also up in flames.</a>While the industry reaction to FTX and Frank might seem obvious (We should double check all these numbers on potential deals), there's plenty of nuance in how the dealmaking environment might shift, <a href="https://www.businessinsider.com/future-due-diligence-in-finance-wake-of-ftx-and-frank-2023-1">as the story points out.</a>One of the more fascinating knock-on effects is how buyers might leverage FTX and Frank as a way to get better terms on deals.On Wall Street, someone else's pain is another's opportunity. It would be very on-brand for firms to use those failures in due diligence to their own advantage. <a href="https://www.businessinsider.com/future-due-diligence-in-finance-wake-of-ftx-and-frank-2023-1">Click here to read more about the new state of due diligence in the wake of FTX and Frank.</a> <hr />In other news:<a href="https://markets.businessinsider.com/news/stocks/ray-dalio-billionaire-investor-bridgewater-debt-ceiling-limit-politicians-alcoholics-2023-1" target="_blank" rel="noopener"></a><div type="image" title="Return of bankers and other finance workers to the office in New York City with a rise in happy hours and work dinners" height="1800" width="2400" msid="97378149" hostid="261" sizebytes="562496"></div>2. BofA's newest MDs. Finally some good news for bankers! Bank of America promoted 360 people to managing director. So fire up those bogus congratulatory emails and get networking. <a href="https://www.businessinsider.com/bofa-promoted-93-new-mds-in-global-markets-the-names-2023-1">Here's everyone who got the nod in sales and trading.</a> And these are the <a href="https://www.businessinsider.com/bofa-investment-banking-md-promotions-see-the-names-2023-1">newest MDs in the investment bank.</a>3. Stripe gets stripped of some value, according to one investor. Principal's large-cap growth fund has <a href="https://www.businessinsider.com/stripe-valuation-down-mutual-fund-ipo-2023-1">lowered its valuation of the payment behemoth by nearly 20%</a>. Meanwhile, Stripe has given itself a 12-month deadline to either go public or get its employees some liquidity for their equity, <a href="https://affiliate.insider.com?postID=63d2c014c4cc6f03a938e792&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fexclusive-stripe-plans-to-go-public-in-next-year-or-make-a-deal-to-resolve-employee-stock-squeeze%3Futm_campaign%3DAutomated%2BFallback%2BR%26utm_content%3D89%26utm_medium%3Demail%26utm_source%3Dcio%26utm_term%3D19">per The Information.</a> 4. Bloomberg's hiring. The financial news and data giant is adding 1,000 new people this year, with the majority focused on data, product, and engineering. <a href="https://www.businessinsider.com/bloomberg-lp-hiring-1000-media-finance-tech-layoffs-2023-1">More on the hiring plans here.</a>5. You had ONE job! Turns out all that madness at the opening bell at the New York Stock Exchange earlier this week can be pinned on one person forgetting to turn off a backup system, Bloomberg reports. <a href="https://www.bloomberg.com/news/articles/2023-01-25/nyse-mayhem-traced-to-a-staffer-who-left-a-backup-system-running?sref=5xrDvJna">Click here to read more about the mistake.</a>6. If your economic policy includes raising the debt ceiling, you are a drunk, per Ray Dalio. The Bridgewater Associates founder didn't hold back when discussing the US debt limit. <a href="https://markets.businessinsider.com/news/stocks/ray-dalio-billionaire-investor-bridgewater-debt-ceiling-limit-politicians-alcoholics-2023-1">More thoughts from Ray here.</a>7. The world's most expensive text messages. Morgan Stanley fined some employees more than $1 million each for violations stemming from what they deemed to be inappropriate use of messaging apps, <a href="https://www.bloomberg.com/news/articles/2023-01-26/morgan-stanley-fines-bankers-over-messaging-breaches-ft-reports?sref=5xrDvJna" target="_blank" rel="noopener">Bloomberg reports.</a> For a deep dive into why traders can't seem to quit apps like WeChat and WhatsApp, <a href="https://www.businessinsider.com/wall-street-traders-whatsapp-wechat-signal-encrypted-messenger-2020-11">check out our feature</a>. 8. For the Tesla shareholders... I know you're a passionate bunch, so we compiled everything Wall Street is saying about the EV maker's fourth-quarter earnings. <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-q4-earnings-wall-street-reaction-price-cuts-musk-2023-1">Get the rundown here.</a>9. These are the cities where you should be buying a home. And yes, these are actually places you'd want to live. <a href="https://www.businessinsider.com/the-10-best-least-bubbly-cities-for-homebuyers-in-2023-2023-1">Check out 10 cities least likely to have their bubble burst</a>. 10. Which fast-food joint has the best coffee? We tried a small, black coffee (the only way to take your coffee; grow up, Peter Pan.) from Wendy's, McDonald's, Sonic, and Burger King. <a href="https://www.insider.com/which-fast-food-chains-have-good-black-coffee-review">Here's who came out on top.</a><hr />Curated by Dan DeFrancesco in New York. Feedback or tips? Email <a href="mailto:ddefrancesco@insider.com">ddefrancesco@insider.com</a>, tweet <a href="https://twitter.com/dandefrancesco">@dandefrancesco</a>, or <a href="https://affiliate.insider.com?postID=63d2c014c4cc6f03a938e792&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdan-defrancesco-29b12449%2F">connect on LinkedIn</a>. Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Due diligence is top of mind for Wall Street in the wake of blowups at Frank and FTX. Here's what it means for the state of M&A.

<ul class="summary-list"><li><keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword> raised its prices in the US and <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> after <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> said the EV maker and SpaceX are both feeling inflationary pressure. </li><li>Musk asked his 77.9 million Twitter followers earlier what their thoughts were on the "probable <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> rate" for the coming years. </li></ul><a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> raised the prices of electric vehicles sold in the US and China on Tuesday as costs for key commodities like <keyword id="13245847" type="UNKNOWN" weightage="60" keywordseo="nickel" source="Orion">nickel</keyword> surge. The EV maker also raised prices <a href="https://www.reuters.com/business/autos-transportation/tesla-hikes-china-us-prices-model-3-model-y-cars-2022-03-10/">five days ago</a> for its Model 3 and Model Y vehicles, making this the second hike within a week. The latest price increase comes after CEO Elon Musk said over the weekend that inflation is hitting Tesla and SpaceX. He <a href="https://twitter.com/elonmusk/status/1503184467397128194?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1503184467397128194%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F03%2F15%2Ftesla-hikes-car-prices-in-the-us-china-after-musk-inflation-warning.html">posted a question</a> to his 77.9 million Twitter followers asking what they thought about the "probable inflation rate" in the coming years. <blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Elon Musk (@elonmusk) <a href="https://twitter.com/mims/statuses/1503184467397128194?ref_src=twsrc%5Etfw">March 14, 2022</a></blockquote>Billionaire and "Shark Tank" investor Mark Cuban <a href="https://twitter.com/mcuban/status/1503230745380368389" target="_blank" rel="noopener noreferrer">responded</a> to Musk's question, saying low interest rates and speculation play roles in inflation.Once there's less uncertainty, short sellers will help drive prices back down and <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> will normalize, he added.<blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Mark Cuban (@mcuban) <a href="https://twitter.com/mims/statuses/1503231570458591233?ref_src=twsrc%5Etfw">March 14, 2022</a></blockquote>Musk also tweeted a link to a Financial Times report over the weekend on how global commodities from oil to wheat are on track for <a href="https://www.ft.com/content/5753f4dd-1e8e-4159-a4e4-d232e4ad50ed">the biggest weekly rally in decades</a>. <a href="https://markets.businessinsider.com/news/commodities/nickel-price-london-metal-exchange-suspends-trading-shanghai-short-squeeze-2022-3?utm_medium=ingest&amp;utm_source=markets">Last week</a> the price of nickel — an integral component of EV manufacturing — soared over $100,000 in a short squeeze, forcing the London Metal Exchange to halt trading. The LME announced that <a href="https://markets.businessinsider.com/news/commodities/london-metal-exchange-restart-nickel-trading-with-price-cap-2022-3">it will resume nickel trading on Wednesday</a> with price caps in place.Fresh COVID lockdowns in China also present<a href="https://www.scmp.com/economy/china-economy/article/3170416/chinas-coronavirus-lockdowns-could-trigger-shock-waves-across"> potential supply chain snags</a>. Experts say additional virus-containment measures overseas will weigh on imports and exports as well as raise shipping prices. Musk's inflation warning comes as the Federal Reserve meets Tuesday and Wednesday, with markets widely expecting policymakers to begin a cycle of interest rate hikes.

Elon Musk is sounding the inflation alarm as Tesla raises prices amid a squeeze in nickel and other key materials

Retail sales of overall vehicles in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> grew by 15.28 per cent to 2,11,20,441 units in 2022 led by record sales of passenger vehicles and tractors, <keyword id="1692051" type="General" weightage="50" keywordseo="federation-of-automobile-dealers-associations" source="Orion">Federation of Automobile Dealers Associations</keyword> (<keyword id="354719" type="General" weightage="100" keywordseo="fada" source="Orion">FADA</keyword>) said on Thursday. In 2021, total retail sales of vehicles in India were at 1,83,21,760 units, FADA said in a statement. Two-wheelers retail sales stood at 1,53,88,062 units last year, a growth of 13.37 per cent from 2021 when sales stood at 1,35,73,682 units. Passenger vehicles (PV) retail sales were at 34,31,497 units in 2022, as against 29,49,182 units in 2021, up 16.35 per cent, it added. FADA President Manish Raj <keyword id="1114" type="General" weightage="80" keywordseo="singhania" source="Orion">Singhania</keyword> said, "For CY2022, while total vehicle retails grew by 15 per cent year-on-year and 17 per cent compared to CY20 it failed to surpass CY19 retails, (a pre-Covid year) and registered a fall of 10 per cent." He further said, "The PV category during this period continued to gain new grounds by clocking 34.31 lakh retails during the full year. This is by far, the highest retails which PV has done till date." Singhania, however, lamented that the two-wheeler segment once again failed to impress as retail sales during December 2022 continued to fall after two good months. "Reasons like rise in inflation, increased cost of ownership, rural market yet to pick up fully and increased EV sales, the ICE (internal combustion engine) two-wheeler segment is yet to see any green shoots," he added. In 2022, commercial vehicles retail sales stood at 8,65,344 units, as against 6,55,696 units in 2021, a growth of 31.97 per cent. "The CV segment has continued to grow during entire CY2022 and is now almost at par with CY2019 retails. With an uptick in demand in LCV (light commercial vehicles), HCV (heavy commercial vehicles), buses and construction equipment, the government's continued push for infrastructure development has kept this segment going," Singhania said. He also said the three-wheeler segment which was completely down during <keyword id="8764262" type="General" weightage="50" keywordseo="covid" source="Orion">Covid</keyword> has recovered well and has narrowed its gap when compared to CY2019. "Within the segment it's the electric rickshaw sub-segment which is showing triple-digit growth thus pushing the EV market share above 50 per cent mark," he added. Three-wheeler retail in 2022 stood at 6,40,559 units, as compared to 3,73,562 units in 2021, up 71.47 per cent. Singhania said the tractor segment was the only other segment apart from PV which has grown well above calendar years 2021,2020 and pre-Covid year of 2019. "It has also registered a new lifetime high sales of 7.94 lakh units. This feat was possible due to consistently good monsoon, improved cash flow with farmers, better MSP of crops and government's focus on better procurements," he added. Tractor retail sales in 2021 were at 7,69,638 units. Apart from this, timely sowing of rabi crops also helped to continue this momentum. Festive season sales which were normal after 3 years also played its part in this strong momentum, Singhania said. In December 2022, FADA said the total vehicle retail sales were down 5.4 per cent at 16,22,317 units as against 17,14,942 units in the year-ago month. Two-wheelers retail sales stood at 11,33,138 units last month, as against 12,75,894 units in December 2021, a decline of 11.19 per cent, FADA said. Passenger vehicle retail sales were at 2,80,016 units as compared to 2,58,921 units in December 2021, up 8.15 per cent, while commercial vehicles segment witnessed retail sales of 66,945 units as compared to 60,491 units in December 2021, a growth of 10.67 per cent. On the outlook, FADA said global geopolitical headwinds, tightening monetary policy and the lingering effect of the pandemic have combined to create a gloomy global outlook. "Auto OEMs have done routine price hikes in December and have announced the same at the beginning of this year. Apart from this, BS-VI phase II norms coming in, there will be further price hikes across all categories," it said, adding to counter this, Auto OEMs should announce special schemes so that retail sales momentum continues. Due to inflation pressure, upcoming change in vehicle norms resulting in price hikes, FADA said it remains cautious during the last quarter of FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/hyderabadi-satya-nadella-insulted-by-his-own-software-as-it-calls-biryani-a-tiffin/articleshow/96756350.cms">Hyderabadi Satya Nadella 'insulted' by his own software as it calls Biryani a tiffin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/twitterati-misses-ashneer-grover-snapping-in-shark-tank-india-s2/slidelist/96754759.cms">Doglapan, bilkul bakwas: Twitterati misses Ashneer Grover snapping in Shark Tank India S2</a>

Total vehicle retail sales jump 15 pc to 2.11 crore units in 2022: FADA

<ul><li>The <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> Republic Day Sale will begin from January 15 and go on till January 20.</li><li>Amazon Prime subscribers will get access to the deals on January 14, 24 hours earlier than non-Prime users.</li><li>SBI credit card users will be able to avail a 10% instant discount using their cards.</li></ul>Republic Day is almost here, and e-commerce giant Amazon India has announced the Great Republic Day Sale, the company’s first sale of the year. The e-commerce giant will offer discounts across a wide range of products, including smartphones, laptops, home appliances, apparel, etc. If you have been waiting for a sale in the new year to purchase something from your wishlist, the week-long sale might be the best option for you to spend your money on. <cmsannotation type="cmsannotation" annotationid="Amazon Great Republic Day Sale date" comment="subhead" text="Amazon Great Republic Day Sale date"><keyword id="10589048" type="General" weightage="100" keywordseo="amazon-great-republic-day-sale" source="Orion">Amazon Great Republic Day Sale</keyword> date</cmsannotation> The <keyword id="15995734" type="General" weightage="20" keywordseo="amazon-great-republic-day-sale-2023" source="Orion">Amazon Great Republic Day Sale 2023</keyword> will begin on January 15 and will go on till January 20. As always, Prime Subscribers get early access to the sale, as it will go live for them on January 14, 24 hours earlier than non-Prime users. <cmsannotation type="cmsannotation" annotationid="Card offers" comment="subhead" text="Card offers">Card offers</cmsannotation> As part of the sale, Amazon has partnered with the State Bank of India to offer a 10% instant discount to SBI credit card users and EMI transactions. So, if you are planning on purchasing something during the sale, we recommend keep your SBI credit cards ready. <cmsannotation type="cmsannotation" annotationid="Up to 40% off on smartphones" comment="subhead" text="Up to 40% off on smartphones">Up to 40% off on smartphones</cmsannotation> If you have been thinking about getting a new smartphone in 2023, now might be the best time for you as smartphones will be discounted by up to 40% during the upcoming Great Republic Day Sale, including smartphones from Apple, OnePlus, Samsung, Xiaomi, and others. The iPhone 13, which was the <a href="https://www.businessinsider.in/tech/mobile/news/iphone-13-becomes-the-best-selling-smartphone-in-india-in-q4-2022-first-iphone-ever-to-join-the-list/articleshow/96794819.cms">best selling smartphone</a> in Q4 2022, will be available at a discounted price during the sale. In addition, devices such as the OnePlus 10T, Samsung Galaxy S20 FE, iQOO Neo 6, Redmi Note 11, and others will also be discounted. In addition to discounts and card offers, the smartphones will be available with exchange offers, no-cost EMI, and a free screen replacement for selected devices. <cmsannotation type="cmsannotation" annotationid="Discounts on other products" comment="subhead" text="Discounts on other products">Discounts on other products</cmsannotation> In addition to smartphones, all major devices such as laptops, home appliances, and accessories will be available at a discounted price. <cmsannotation type="cmsannotation" annotationid="Laptops" comment="subhead2" text="Laptops">Laptops</cmsannotation> If you are looking for a laptop for work or education, you can grab one during the sale, as laptops will be available with a discount of up to 40%. <cmsannotation type="cmsannotation" annotationid="Smartwatch and fitness bands" comment="subhead2" text="Smartwatch and fitness bands">Smartwatch and fitness bands</cmsannotation> If you are working on your new year’s resolution to exercise and are looking for something to keep track of your workouts, you can grab a smartwatch or a fitness band during the sale, as these devices will be discounted by up to 75% during the sale. <cmsannotation type="cmsannotation" annotationid="Headphones and speakers" comment="subhead2" text="Headphones and speakers">Headphones and speakers</cmsannotation> Amazon has something in store for audiophiles as well. Headphones, including Bluetooth options such as neckbands and truly wireless headphones, will be available with a discount of up to 75% during the sale. If you want something bigger, speakers will be discounted by up to 65% during the sale. <cmsannotation type="cmsannotation" annotationid="Home and kitchen appliances" comment="subhead2" text="Home and kitchen appliances">Home and kitchen appliances</cmsannotation> Looking to improve your home or kitchen this year? Amazon has some great deals for you, as home, and kitchen appliances will be available with a discount of up to 70% during the Great Republic Day Sale. Large appliances such as TVs, refrigerators, washing machines, air conditioners, and dishwashers will be discounted by up to 65%. <cmsannotation type="cmsannotation" annotationid="Apparel" comment="subhead2" text="Apparel">Apparel</cmsannotation> If you are looking for clothes for yourself or your family, you can avail a discount of up to 80% on men’s, women’s, and kid’s clothing and footwear. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-series-may-be-priced-higher-than-the-s22-series-launch-date-specs-and-more/articleshow/96847198.cms">Samsung Galaxy S23 series may be priced higher than the S22 series – launch date, specs and more</a> <a href="https://www.businessinsider.in/business/auto/news/aman-gupta-and-anupam-mittal-backed-revamp-moto-launches-its-first-transformable-ev/articleshow/96790725.cms">Shark Tank S1 winner Revamp Moto launches an EV that lets you add a child seat, freezer box and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-oneplus-11-5g-may-be-cheaper-than-the-oneplus-10-pro-in-india-price-specs-and-india-launch-date/articleshow/96734971.cms">OnePlus 11 5G may be cheaper than the OnePlus 10 Pro in India – price, specs, and India launch date</a>

Amazon Great Republic Day Sale to begin on January 14 for Prime members – sale dates, card offers and more

German luxury carmaker <keyword id="25952" type="General" weightage="100" keywordseo="mercedes-benz" source="Orion">Mercedes-Benz</keyword> will launch ten new vehicles in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in 2023 with majority in the over ₹1-crore price category, which grew over 69 per cent last year, according to a senior company official. <keyword id="184004" type="General" weightage="20" keywordseo="mercedes-benz-india" source="Orion">Mercedes-Benz India</keyword>, which posted record sales in 2022 at 15,822 units, had sold over 3,500 cars that are priced above Rs 1 crore last year. In 2021, Mercedes-Benz India sold 11,242 units. Its previous best sales were achieved in 2018 at 15,583 units. The company is looking at an overall double-digit sales growth this year, and as part of the drive it launched its 'AMG E53 4MATIC+ Cabriolet' model priced at Rs 1.3 crore on Friday. "The biggest growth for us in the last year has come from the TEV (top-end vehicle) segment, where we have grown by 69 per cent," newly appointed Managing Director &amp; CEO of Mercedes-Benz India Santosh <keyword id="25076" type="General" weightage="50" keywordseo="iyer" source="Orion">Iyer</keyword> told PTI. The company's top-end vehicles include S-Class Maybach, GLS Maybach, top-end AMGs, S-Class and GLS SUV, which are priced over Rs 1 crore (ex-showroom). Iyer, who is the first Indian to be elevated to lead Mercedes-Benz in the country, said the share of its TEV has increased to 22 per cent of the company's total sales, up from 12 per cent in the pre-Covid year of 2018. He further said bringing more products into the TEV segment will be a part of the company's "six pillars" strategy for 2023. "The first pillar is to think and act like a luxury brand and for that we will be introducing 10 desirable cars in 2023, the majority of them will be in the TEV segment...," he said. Expanding the TEV base is a key part of the strategy, Iyer said, adding, "we have grown at 69 per cent and we will be launching more products there. We have sold more than 3,500 cars only in TEVs in 2022... that's a lot of cars in the Rs 1-crore-plus segment". Also, he said the company will be putting a lot of emphasis on its online store in order to enhance the omnichannel experience for its customers. "We sold 2,000 cars through our online platform last year... We are making it even better for customers today. Earlier, they were not able to see cars which will be produced after three months. With the enhancements in our online store, they can actually see the visibility of cars for up to one year," Iyer said. Mercedes-Benz India will also take the lead in electric vehicles, and is looking at more EVs to enhance its product portfolio to add to the existing models EQC, EQB, EQS 53 AMG and EQS 580, he added. <keyword id="49089" type="General" weightage="50" keywordseo="sustainability" source="Orion">Sustainability</keyword> is also a key theme of the 2023 strategy, Iyer said, adding, "By the end of last year, we achieved 100 per cent green power for our Chakan facility... we will not stop there. We are also committing that in 2023 we will go 100 per cent paperless." He further said, "for the first time we are extending the responsibility to our franchisee partner network. We are saying that one-third of our network will operate on sustainable power and the full network will go green by 2025." The company is also increasing its supply chain resilience as it increases production which is already "at two shifts and in a couple of areas we are running three shifts". In terms of the growth outlook for 2023, Iyer said, "We are looking at profitable and resilient growth. We are aiming for double-digit growth. A sustained growth helps us to also do more investment and therefore it's important that we focus on the profitability and resilient growth for the market." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kreditbee-closes-200-million-series-d-from-advent-international-mufg-bank-others/articleshow/96791309.cms">KreditBee closes $200 million Series D from Advent International, MUFG Bank, others</a>

Mercedes-Benz will launch 10 new vehicles in India in 2023: Santosh Iyer

Happy Friday, team. I'm Phil Rosen, writing to you from New York City. I have a favor to ask: Insider is seeking nominations for the <a href="https://www.businessinsider.com/rising-stars-equity-research-nominations-2023">top equity analysts under the age of 35</a>. My colleagues and I need your help finding the brightest up-and-comers in sell-side research. If you know someone who should be considered, <a href="https://docs.google.com/forms/d/e/1FAIpQLSeLytGgaSk7eUA9Jqa3z6VnZ86NaHtvxeZbmqWfdc9O5tIzJA/viewform" target="_blank" rel="noopener">you can submit suggestions here</a>.(<a href="https://www.businessinsider.com/rising-stars-equity-research-2022">Here's last year's excellent list of rising stars</a>.) Now — let's check in with Elon Musk.<hr />If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><hr /><a href="https://www.insider.com/app"></a><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-prediction-rally-vanda-research-elon-musk-investing-ev-2023-3"></a>1. On Thursday, shares of Tesla slid roughly 7% after Elon Musk's "master plan" <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-investor-day-new-models-underwhelms-2023-3?_gl=1*u8v40w*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY3Nzc4NTQyNy42MzQuMS4xNjc3Nzg4MTEyLjAuMC4w">fell short of expectations</a> at the company's highly anticipated investor day, which unfolded over the course of four hours on Wednesday. Onlookers were hoping for more insight into new types of vehicles, including a rumored sub-$30,000 model and robotaxis, but <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-investor-day-new-models-underwhelms-2023-3?_gl=1*u8v40w*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY3Nzc4NTQyNy42MzQuMS4xNjc3Nzg4MTEyLjAuMC4w">Musk was largely mum on the matter</a>. In his "Master Plan 3" presentation, Musk, alongside several engineers, teased at two new models, but details were otherwise scant (though he did <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-investor-day-ai-electric-vehicles-self-driving-2023-3?_gl=1*k5j6tn*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY3Nzc4NTQyNy42MzQuMS4xNjc3Nzg4MDUwLjAuMC4w">make several colorful comments</a>).The presentation did, however, lay out broad plans aimed at making Tesla the largest car company in the world.By 2030, Tesla is looking to hit 20 million car sales per year.The announcements were tepid enough that strategists at Vanda Research wrote in a note to clients that this month could see<a href="https://markets.businessinsider.com/news/stocks/tesla-stock-prediction-rally-vanda-research-elon-musk-investing-ev-2023-3"> a sell-off for Tesla stock</a>. Over the last two months, retail investors have <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-prediction-rally-vanda-research-elon-musk-investing-ev-2023-3">piled into shares of the EV-maker</a>, but the weaker investor day could catalyze a reversal, according to Vanda."If we assume that much of the retail buying was driven by momentum rather than a strong conviction, a stagnation in performance <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-prediction-rally-vanda-research-elon-musk-investing-ev-2023-3">caused by the lack of new 'rumors' to buy</a>, could result in a significant reversal in sentiment, investment flows, and ultimately stock price," Vanda said.That said, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-target-master-plan-cybertruck-zacks-2023-3">Zacks Investment Research forecasts 30% upside for Tesla</a>, and that climb could happen in 2023. The firm gives Musk's company a <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-target-master-plan-cybertruck-zacks-2023-3">$260 price target</a> over the next six to 12 months, which John Blank, chief equity strategist for Zacks, says is "doable.""The thing I <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-target-master-plan-cybertruck-zacks-2023-3">think we should hear about the Cybertruck</a> is it's going to put a new factory template in place that we have not seen yet, and that's what's taking so long," Blank said in a CNBC interview. While Tesla has long been touted as innovative and futuristic over the last decade, Bespoke Investment Group <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-investor-day-ev-autos-ford-gm-toyota-boring-2023-3">concluded that the company is now actually a normal, boring</a> car maker.Here's how they put it:"With investors and analyst coverage focused on more <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-investor-day-new-models-underwhelms-2023-3?_gl=1*u8v40w*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY3Nzc4NTQyNy42MzQuMS4xNjc3Nzg4MTEyLjAuMC4w">concrete metrics and timelines</a>, expectations for TSLA are being pushed to behave more like a traditional [original equipment manufacturer] and <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-investor-day-ev-autos-ford-gm-toyota-boring-2023-3">less like a disruptor</a>."Are you more bullish or bearish on Tesla this year? Why or why not? Tweet me (<a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a>) or email me (<a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>) to let me know. <hr />In other news:<a href="https://markets.businessinsider.com/news/currencies/cbdc-dollar-treasury-crypto-stablecoin-digital-trm-government-token-currency-2023-3"></a><div type="image" title="Federal Reserve Chair Jerome Powell" height="2074" width="4150" msid="98391451" hostid="261" sizebytes="190164"></div>2. US stock futures edge higher early Friday, as investors see glimmers of hope for more-moderate rate hikes in Fed official Bostic's comments. Meanwhile, the 10-year Treasury is clinging on at just above 4%. <a href="https://markets.businessinsider.com/premarket">Here are the latest market moves</a>.3. Earnings on deck: Lufthansa, Pearson, and more, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>.4. Meet a 30-year-old contrarian stock trader. He said he's made most of his profits by going against the crowd, since most people end up losing money in trading. <a href="https://www.businessinsider.com/how-to-be-profitable-stock-trader-2023-contrarian-2023-3">These are three harsh truths he lives by that help him stay profitable regardless of market conditions.</a>5. The stock market is getting the jitters with a key bearish signal flashing red again. The 10-year Treasury bond yield has rebounded to highs last seen in November, marking a shift in investors' expectations for interest rates. <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bearish-bill-gross-jeffrey-gundlach-bond-yields-2023-3">Here's why the bulls are getting spooked right now.</a>6. The Treasury just gave the strongest indication yet that the US will get a digital dollar. But industry experts told Insider that the proliferation of a central bank digital currency still has risks — <a href="https://markets.businessinsider.com/news/currencies/cbdc-dollar-treasury-crypto-stablecoin-digital-trm-government-token-currency-2023-3">and that we have to be careful not to get caught up in a race with China</a>. 7. Despite an aggressive Fed, equities have so far proved remarkably resilient this year. JPMorgan analysts said trillions of dollars in excess cash and a strong credit market have helped contain potential negative fallout so far. <a href="https://markets.businessinsider.com/news/stocks/stock-market-resilience-despite-fed-interest-rate-hikes-inflation-qt-2023-3">The Wall Street giant broke down why markets have yet to be crushed by aggressive policy.</a>8. These two college friends created energy gum and mints that got the attention of Shark Tank investors. They ended up turning down offers from Kevin O'Leary and Robert Herjavec — <a href="https://www.businessinsider.com/how-college-friends-built-company-seven-figure-energy-gum-neuro-2023-3">but they have since built an eight-figure business while working separate day jobs</a>.9. The father-son team behind a top-1% mutual fund shared their strategy with Insider. They are focusing on small companies with high upside that look built for a high-inflation environment. <a href="https://www.businessinsider.com/inflation-investing-stocks-to-buy-small-cap-top-fund-managers-2023-3">Here are the five stocks they're most bullish on.</a><a href="https://markets.businessinsider.com/news/stocks/salesforce-stock-prediction-cloud-tech-marc-benioff-bank-of-america-2023-3"></a><div type="image" title="Salesforce stock price" height="1062" width="1228" msid="98391459" hostid="261" sizebytes="33166"></div>10. Salesforce stock has 26% upside, according to Bank of America. The stock Thursday jumped 11% on earnings and BofA raised its price target for Marc Benioff's tech firm from $200 to $235: <a href="https://markets.businessinsider.com/news/stocks/salesforce-stock-prediction-cloud-tech-marc-benioff-bank-of-america-2023-3">"Margin outlook reflects major step toward disciplined growth."</a><hr />Curated by Phil Rosen in New York. Feedback or tips? Tweet <a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a> or email <a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>.Edited by Max Adams (<a href="https://twitter.com/maxradams?lang=en" target="_blank" rel="noopener">@maxradams</a>) in New York and Nathan Rennolds (<a href="https://twitter.com/ncrennolds?lang=en-GB">@ncrennolds</a>) in London.

Tesla bulls and bears are duking it out and one strategist now thinks Elon Musk's car company is "boring"

America has descended into a new Red Scare

<ul><li>Wedbush's <keyword id="2200859" type="PERSON" weightage="60" keywordseo="Dan-Ives">Dan Ives</keyword> said demand from China could help Tesla potentially exceed its once implausible annual delivery target of 500,000 vehicles.</li><li>Tesla has seen robust demand in China, selling roughly 22,000 Model 3 vehicles in China in November. If momentum continues, the EV maker will likely hit its target, Ives said. </li><li>Tesla reiterated its goal of 500,000 deliveries in 2020 in its third-quarter earnings call, though some <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-reaction-anaylsts-musk-beat-expectations-2020-10-1029710889">analysts were skeptical</a> it would be able to hit that target. </li><li>Ives sees Tesla surging 56% from current levels to $1,000 in his bull case scenario. </li><li><a href="https://markets.businessinsider.com/stocks/tsla-stock">Watch Tesla trade live here</a>. </li></ul>China could be the golden goose for <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>. That's according to Dan Ives, a Wedbush Securities senior tech analyst, who said in a note to clients on Sunday that demand from China could help Tesla reach or possibly exceed it's once implausible goal of 500,000 deliveries by the end of 2020. Ives sees Tesla surging 56% from current levels to $1,000 a share in his bull case scenario. The analyst explained that Tesla has seen robust continued demand in China and if that continues in December, the EV maker could surpass its delivery target.In November, Tesla sold roughly 22,000 Model 3 vehicles in China. "We believe the company is tracking to another strong month of December in China which could be the tipping point to get Musk &amp; Co. to hit/exceed its 500k annual delivery target, an achievement not even on the map for the Street going back to the late spring/summer timeframe," Ives said.Read more:<a href="https://www.businessinsider.com/kevin-oleary-interview-wealth-building-tips-strategies-advice-investing-app-2020-12">Shark Tank investor Kevin O'Leary told us 2 concrete strategies for building wealth over time - and shared how a rude awakening during the pandemic led him to build a new investing app</a>Tesla reiterated its goal of 500,000 deliveries in 2020 in its third-quarter earnings call, though some <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-reaction-anaylsts-musk-beat-expectations-2020-10-1029710889">analysts were skeptical</a> the company would be able to hit its target. "The China growth story is worth at least $100 per share in a bull case to Tesla as this EV penetration is set to ramp significantly over the next 12 to 18 months, along with major battery innovations coming out of Giga 3 and elsewhere throughout the China EV supply chain," the analyst added. Shares of Tesla closed up nearly 5% on Monday at $639 a share. The stock is up over 660% year-to-date.

Demand from China could help Tesla exceed its 500,000 delivery target, says a Wall Street tech analyst who sees the stock soaring as much as 56%

<ul><li>American car maker Ford may form a partnership with Indian car maker M&amp;M, Reuters said citing sources.</li><li>India's third-largest car maker M&amp;M is likely to own 51% stake in the venture and Ford may own the rest.</li><li>The two companies came together for the first time in 2017 to build SUVs and electric cars.</li><li>Ford would add 14,000 employees, two plants to M&amp;M and both companies had similar sales in 2018.</li><li>In 2018, Ford's India division swung to profit for the first time in eight years.</li></ul>American car maker Ford's solo drive in India is likely to end. The company may form a joint venture (JV) with the Indian conglomerate, Mahindra &amp; Mahindra, according to a report citing sources from news agency Reuters. Both companies have refused to confirm Reuters' report that said M&amp;M will own 51% stake in the JV, while Ford will own the rest. If this stake sale goes through, this will be a milestone in the history of the Dearborn, Michigan-based company that entered India nearly 25 years ago. "Since its entry in India in 1995, Ford has invested more than US$ 2 billion to expand its manufacturing facilities and sales &amp; service footprint to meet the demand in one of the world's fastest-growing auto markets," according to its website. M&amp;M, on the other hand, is the country's <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/three-launches-help-mm-retain-third-spot-in-passenger-vehicle-sales/articleshow/68770337.cms" data-type="tilCustomLink" target="_blank">third-largest passenger vehicle</a> maker, whose automotive business spans from sports utility vehicles (SUV) to tractors and buses, from heavy engines to electric cars. The company bought over Korean peer Ssangyong in 2011 and an Italian graphic design firm in 2008. However, the country's automobile industry has been reeling under pressure from slowing car sales in recent months. What M&amp;M gets... Most importantly, in 2018, Ford's India division <a href="https://m.economictimes.com/industry/auto/auto-news/ford-motor-india-drives-into-profit-zone-after-eight-years/articleshow/66453826.cms" data-type="tilCustomLink" target="_blank">swung to profit</a> for the first time in eight years. About 85% of the components are locally sourced. Ford has integrated manufacturing facility at Maraimalai Nagar, near Chennai, produces its popular models like Ford EcoSport and Ford Endeavour. It also has, according to the company, a "$1 billion state-of-the-art integrated manufacturing facility in Sanand, Gujarat," which became operational in March 2015. M&amp;M has 16 plants dotted across the country. The annual installed manufacturing capacity is 610,000 engines and 440,000 vehicles. <a data-type="tilCustomLink" target="_blank">Total sales</a> for the year-ended December 2018 were at 265,714 units, just marginally up from a year earlier. In the same time, M&amp;M sold over 250,000 vehicles, including exports. Ford has more than 376 sales and service outlets in 209 cities across India. It will also bring to the table 14,000 employees. The synergies Just like Ford, M&amp;M's top-selling brands are SUVs and that segment is in a tight spot. While the demand is weak, emission norms are scheduled be tightened next year and that would make diesel cars, especially the gas-guzzling SUVs less attractive. Coming together would reduce competition and ease the pressure on the business. The two companies tied up in 2017 to build cars together and the <a href="https://www.livemint.com/Auto/OZIyEUKiu91VH2APzOspjK/Ford-posts-a-profit-in-India-20-years-after-driving-in.html" data-type="tilCustomLink" target="_blank">first model is expected to be out</a> in the financial year ending March 2020. M&amp;M on the other hand has been a pioneer in India's nascent electric car market, a growing space which Ford is absent from. The Mumbai-based company is planning to double its electric vehicle (EV) portfolio in three years. The current EV manufacturing capacity is 5,000 and the <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/mm-plans-to-double-its-electric-vehicles-portfolio-in-3-years/articleshow/63089182.cms" data-type="tilCustomLink" target="_blank">firm plans to increase</a> it to 60,000-70,000 in a year. SEE ALSO: <a href="https://www.businessinsider.in/shark-tanks-kevin-harrington-invests-in-retail-store-the-new-shop/articleshow/68796960.cms" data-type="tilCustomLink" target="_blank">Shark Tank’s Kevin Harrington is back in India after 25 years to invest in a pop-up store chain</a>

Ford may enter a joint venture with M&M ending a 25-year old solo ride that cost $2 billion: Report

How to dress like a local in 25 cities around the world

<div class="KonaFilter image-container float_right"><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/556dff896bb3f71143b23cfe-1200-924/zappos-employees-office.jpg?maxX=600" border="0" alt="zappos employees office" width="600">YouTube/ZapposZappos employees in the online retailer's Las Vegas headquarters are part of a Holacracy.</img></div></div>Online retailer Zappos began a transition to "Holacracy" in 2013, <a href="http://www.businessinsider.com/tony-hsieh-zappos-holacracy-management-experiment-2015-5">deciding to ditch manager roles and job titles in favor of "self-management.</a>"The alternative management system was created in 2007 by a software developer who says more than 300 companies worldwide have adopted it, including Twitter cofounder Ev Williams' company Medium and the cash automation company Arca.Amazon-owned Zappos, which has more than 1,000 employees, is by far the largest company to try operating as a Holacracy.But what exactly is it, and how does it work? Using the new book, "<a href="http://www.amazon.com/gp/product/162779428X/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=162779428X&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=6YYYUY47PPPSELUS" target="_blank">Holacracy: The New Management System for a Rapidly Changing World</a>" by the system's creator, we break it down.<h2>It's meant to be agile and adaptable</h2>Holacracy is the brainchild of Brian Robertson, a former programmer and entrepreneur turned management guru.As he was growing the software company he started in 2001, Robertson tells Business Insider, he realized the management-hierarchy system wasn't agile or adaptable. "It was crushing the ability in people to actually contribute and use their gifts," he says.He studied as much self-management theory as he could, and developed his own approach, Holacracy, in 2007. He left his software company in 2010 to found <a href="http://holacracy.org/">HolacracyOne</a>, a company that provides tools and coaching to companies that adopt its management principles.The system derives its name from "holarchy," a term coined by the writer Arthur Koestler in his 1967 philosophical psychology book, "<a href="http://www.amazon.com/gp/product/0140191925/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0140191925&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=YPGXGICS37XQBOGP" target="_blank">The Ghost in the Machine</a>." It refers to a collection of holons, which simultaneously function as parts and wholes, like organs in a body.<h2>Circles replace the pyramidal hierarchy</h2>The term "self-management" can be misleading, Robertson says, since it suggests a sort of anarchy of individuals. Instead, he calls it "distributed authority." An organization operating as a Holacracy isn't perfectly flat, but it takes powers traditionally reserved for executives and managers and spreads them to all employees.<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5554a76869beddb30cc45a06-925-643/holacracy graphic 2.png" border="0" alt="holacracy graphic 2">HolacracyOne</img></div></div></div><h3>General components</h3>Anchor circle: Typically comprises the board.General company circle (GCC): Typically comprises the traditional executive leadership of the company. It is the only sub-circle in the anchor circle.Sub-circle: Dedicated to particular functions of a company, like marketing and production. The circle a sub-circle exists in is known as its super-circle.Roles: An element of a traditional job broken down into a task. A marketing circle, for example, can contain roles like social media, advertising, web marketing, and brand development. Every role comes with agreed-upon accountabilities.If a role's responsibilities become too much for just one person to take care of, then it can expand into a new sub-circle with its own roles.It's important to note that a role is not representative of a person - a single employee can have many roles, and roles are always subject to change.<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/552d4a2e6da8119210c0267d-861-496/glassforg.jpg" border="0" alt="glass frog">GlassFrog.comHolacracyOne offers GlassFrog software that allows employees to monitor the layout of the entire organization.</img></div></div></div><h3>Special roles</h3>If a circle has a sub-circle, then they must be connected by the roles of Lead Link and Representative (Rep) Link. Both links attend the governance and operations meetings (described later) of both circles.Lead link: Mandatory sub-circle role that is appointed by the super-circle. It is responsible for determining the circle's overall purpose, priorities, and strategies; assigning employees to roles, monitoring their performance, and reassigning roles for better fit; allocating the circle's resources; and defining the circle's metrics.While they can assign work and determine strategy, they are intended to be stewards of the roles they're responsible for, not the people taking the roles. If disagreements arise among circle members, the ultimate resolution is left for the next scheduled operations meeting, but the lead link can make judgment calls regarding what is expected of each role's adopter."It is not the lead link's job to direct the team, or to take care of all the tensions felt by those in the circle," Robertson says. "As a lead link, you are not managing the people; you are representing the circle as a whole and its purpose within the broader environment of the organization."Rep link: Mandatory sub-circle role that is elected by the members of its sub-circle. Whereas the lead link represents the purpose and direction of a sub-circle to its super-circle, the rep link is responsible for determining problems or frustrations the sub-circle has with the super-circle and resolving them. The rep link is also responsible for reporting the sub-circle's health to the super-circle.Cross link: Optional role responsible for connecting its circle to either a parallel one or a circle that is far removed from it in purpose but still important to its mission. Robertson advises that only advanced holarchies use cross links, but says that a cross link (or links) between the anchor circle (the board) and the GCC (the company) can be quite useful.Facilitator: Mandatory role for every circle, elected by members of its circle. Leads meetings.Secretary: Mandatory role for every circle, elected by members of its circle. Keeps records of meetings.<h2>There are structured meetings</h2>Holacracy makes use of two highly structured meetings and one that is more open to interpretation. Robertson says the formality of the meetings is meant to streamline the decision-making process rather than add layers onto it. His intentions are to reduce the number of small daily interactions regarding decisions and eliminate time-sucking meetings with low yield.<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/5554a6e8ecad043e5a2ae7be-900-731/holacracy graphic 1.png" border="0" alt="holacracy graphic">HolacracyOneStructured meetings are essential for adapting to change, addressing problems, and assigning work.</img></div></div></div><h3>Governance Meetings</h3>Frequency: Typically monthlyPurpose: To refine a circle's operating structure (i.e. creating, amending, or removing roles, policies, or sub-circles; electing a facilitator, secretary, and rep link)Process:1. Check-in Round: "One at a time, each participant has space to call out distractions and orient to the meeting."2. Administrative Concerns: "Quickly address any logistical matters, such as time allotted for the meeting and any planned breaks."3. Agenda Building: "Participants add agenda items, using just one or two words per item. Each agenda represents one tension to process. Facilitator captures them in a list."4. Process Each Item Using the Integrative Decision-Making Process: "Each agenda item is addressed, one at a time, using the Integrative Decision-Making Process," which is a system that allows the proposer to speak uninterrupted and others to weigh in, one at a time.5. Closing Round: "Once the agenda is complete or the meeting is nearing its scheduled end, the facilitator gives each person space to share a closing reflection about the meeting."<h3>Tactical Meetings</h3>Frequency: Typically weeklyPurpose: To get each circle member on the same page and to address any problems hampering progressProcess:1. Check-in Round: Each person has an uninterrupted chance to mention anything on their mind.2. Checklist Review: Facilitator reads aloud a checklist for each of the roles, which the person in question responds to either with "check" or "no check."3. Metrics Review: Each role responsible for a data report shares a brief on it.4. Progress Updates: The facilitator reads aloud each project, asking, "Any updates?" The project lead either says "no updates" or gives a brief explanation.5. Agenda Building: Each person has a chance to raise a tension, represented only by one or two words.6. Triage Issues: Facilitator gives each person with a tension a chance to explain their issue and discuss it with other members. Facilitator determines what next steps need to be taken to resolve the issue as quickly as possible.7. Closing Round: Each person has an uninterrupted chance to share a closing reflection about the meeting.<h3>Strategy Meetings</h3>Frequency: Typically every six monthsPurpose: To review the circle's overall progress and develop long-term goalsProcess:There is no mandated structure, but Robertson says the meetings should last around four or more hours, and can fit into the following skeleton.1. Check-in Round2. Orientation3. Retrospective4. Strategy Generation5. Unpack the Strategy6. Closing Round<h2>It's like an operating system</h2><div class="KonaFilter image-container float_right"><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5554a8d1ecad04146a2ae7b9-1200-924/brian-robertson.jpg" border="0" alt="brian robertson" width="480">YouTube/HolacracyOneHolacracy inventor Brian Robertson.</img></div></div>Robertson says the best way to understand Holacracy is as an operating system, meaning that it doesn't come pre-loaded with all the software needed to run a business.Holacracy provides, he explains, "a set of core rules for defining, evolving, and enacting your business processes over time," but it doesn't account for basics like "compensation and performance management systems, financial control/budgeting processes, and hiring and interviewing processes."He likens these processes to "apps" for the Holacracy operating system, and wants Holacracy users to share their apps on HolacracyOne's website.Zappos, for example, is still figuring out how compensation will work for the company. It is currently experimenting with HolacracyOne's <a href="http://www.holacracy.org/wp-content/uploads/2015/05/badge-based_compensation_app_-_beta_v0.9_2.pdf">Badge-based Comp App</a>, which assigns skills, talents, and capacities to badges, which have monetary value.<h2>It takes a long time to start working</h2>The initial transition at any company is always "painful and uncomfortable," Robertson says, since people of all experience levels need to learn an entirely new way of doing their jobs.<div class="KonaFilter image-container float_right"><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/555b897169bedd0a048b456b-1200-2000/holacracy.jpg" border="0" alt="holacracy" width="480">AmazonRobertson's new book is a guide to understanding his management system.</img></div></div>It's why every company, whether a new startup of a few people or established company of over 1,000 employees, is advised to bring in a certified Holacracy coach to teach the system.Robertson says that while he hasn't collected data on it, he's found that it takes around three months for most employees to get the hang of Holacracy. It may take longer, or it may never happen at all.For a company the size of Zappos, Robertson predicts that it will take at least a few years for it to move past the clumsy learning stage and into the desired streamlined, accelerated phase where Holacracy feels natural.Robertson doesn't think Holacracy is for every company, but he thinks its distributed authority is an approach many more companies will be adopting in the near-future."I suspect we're going to see more and more companies moving this way, in the same way we've seen more companies moving to embrace agility," he says. "Look at companies in the '50s versus today. They're radically different. I think this is the direction it's going."For more details, you can check out Robertson's book, "<a href="http://www.amazon.com/gp/product/162779428X/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=162779428X&amp;linkCode=as2&amp;tag=thebusiinsi-20&amp;linkId=6YYYUY47PPPSELUS" target="_blank">Holacracy</a>," and read <a href="http://www.holacracy.org/constitution">the official constitution every participating company adopts</a>.Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/shark-tank-robert-herjavec-when-quit-your-job-start-company-2015-5">The surprising reason 'Shark Tank' investor Robert Herjavec started his own company</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="UzbjR5dDr9fFGBe-ijKhmTs5js_Fbkmr" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'UzbjR5dDr9fFGBe-ijKhmTs5js_Fbkmr',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

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