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IPO investors would have lost Rs 1,300 crore as interest, says Zerodha Founder and CEO Nithin Kamath. «After a long time, we have had massive activity in the IPO market, with Rs 2.6 lakh crore blocked in bank accounts for IPOs worth Rs 7,600 crore. If this was 2003, it would take 16 working days (or ~1 month), and the entire money would have moved to investment bankers and cost investors (an interest forego) at least 0.5% (assuming 6% pa) or Rs 1300 crores,» Kamath tweeted. As the regulatory regime evolved with time, the T+16 timeline was reduced to T+12, T+6 and then to T+3. «Now, the money never leaves the bank account until allotment.

₹2.59 lakh crore in the recently concluded mainboard IPOs. Apart from Tata Tech, four other mainboard IPOs were also listed this week, including Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd, and Indian Renewable Energy Development Agency (IREDA). Praising the smooth listing of all the issues this week in the stock market, Zerodha founder Nithin Kamath said that market regulations have improved phenomenally over the past two decades.

Narendra Modi will attend the inauguration of the Ram Temple in Ayodhya on January 22, 2024. The office bearers of Shri Ram Janmbhoomi Tirtha Kshetra along with religious leaders, went to invite the Prime Minister. The foundation stone of the Ram Temple in Ayodhya, was laid by Narendra Modi on August 5, 2020.

drone attack on Ukraine since the beginning of its full-scale invasion in 2022, targeting the Ukrainian capital, military officials said. «Kyiv was the main target,» Ukrainian Air Force Commander Mykola Oleshchuk wrote on his Telegram channel. In total, Russia launched 75 Iranian-made Shahed drones against Ukraine, of which 74 were destroyed by air defenses, Ukraine's air force said. The attack was «the most massive air attack by drones on Kyiv,» said Serhii Popko, head of the Kyiv city administration.

Netflix's release of the first five episodes of Squid Game: The Challenge, a reality show based on the popular Korean drama, the competition series is grappling with controversies and potential legal action. Contestants have raised concerns about injuries suffered during filming, leading to threats of legal action from a U.K.-based law firm. In response, one of the show's producers fired back, pointing a finger at the conditions of American reality television.

Nifty chose to remain in a defined range; the trading range got narrower and the Nifty oscillated in the 204.65-point range while defending the most immediate support of the 20-week MA. The benchmark index closed with net weekly gains of just 62.90 points (+0.32%). Although some intraday spikes of volatility were observed, India VIX declined by 4.21% to 11.33 on a weekly basis. While no major technical event/development took place over the past five sessions, the point of focus remains the 20-week MA which is acting as the most immediate short-term support for the Nifty.

Alka Singh Gurjar said on Saturday, reacting to Congress leader Rahul Gandhi's 'panauti' remark against Prime Minister Narendra Modi, that these kinds of statements reflect the values of Rahul Gandhi and the Congress party. «Prime Minister is the Prime Minister of the country and not of any party. We may have differences ideologically, but by talking like this about a person who represents the country and who has gained a global reputation for the country, you (Rahul Gandhi) have shown your values and your party's thinking,» said Alka Singh Gurjar.

Nirmala Sitharaman said on Thursday that non-bank financial companies (NBFCs) and small finance banks should be cautious while lending. The previous day, RBI governor Shaktikanta Das said these lenders should diversify their sources of funding and not rely too much on bank loans. Mint looks at why the minister and the regulator are cautioning NBFCs.

MV Pranjal on Saturday in Karnataka's Jigarea, who lost his life in action during the Rajouri encounter in Jammu and Kashmir. Karnataka Governor Thaawarchand Gehlot and Chief Minister Siddaramaiah had earlier paid tribute to Capt MV Pranjal after his mortal remains were brought to Bengaluru's HAL Airport on Friday. The 29-year-old Captain Pranjal from 63 Rashtriya Rifles was killed during an encounter with terrorists in Jammu and Kashmir's Rajouri district on Wednesday. In honour of his service and sacrifice, Karnataka Chief Minister Siddaramaiah announced a compensation of Rs 50 lakh to the family of Captain Pranjal. Several dignitaries, including Karnataka Minister KJ George, Bengaluru MP Tejasvi Surya, and BJP state president BY Vijayendra, also paid their last respects to the fallen soldier at the airport on Friday. Five soldiers, including two Army captains, lost their lives in the firefight carried over from Wednesday.

Titan, one of the flagship companies of Tata Group, recently crossed the Rs 3 lakh crore market cap on the back of a bumper surge in the last 10 years. The shares have jumped a massive 1400% over the last decade. Accordingly, if an investor had invested Rs 10,000 in the stock 10 years ago and stayed put, the investment would have turned to nearly Rs 1.4 lakh. In the last five years, the stock has more than tripled investors' wealth.

Credit scores and credit reports are among the most widely discussed subjects in the realm of finance and banking. Whenever you use a payment app or visit a bank or fintech’s website, they suggest checking your credit score and reading your credit report carefully. 

On the 25th September 2023, the Central Board of Direct Taxes (CBDT) released Notification No. 81/2023, which brings amendments to Rule 11UA. This rule outlines the procedures for evaluating investments made by both resident and non-resident investors in closely held companies (e.g., start-ups). This valuation process plays a crucial role in deciding whether Angel Tax will be applicable to these start-ups. Prior to this release, the board had issued a preliminary draft of the rule and sought feedback and comments from stakeholders and the general public.

By Chirag Nangia

J-K encounter: Top LeT commander among two terrorists killed | Top points Further asked if Pakistan intends to push more terrorists in the coming months to disrupt upcoming elections, including the Lok Sabha polls, he answered in the affirmative without going into details. Dwivedi made this statement yesterday after he visited the Kalakote area of the Rajouri district in Jammu and Kashmir and reviewed the operational situation in the region.

Ben Stokes to miss next year's IPL, will focus on Test series against India "Yes, I can confirm that there have been talks of Hardik going to MI. There remains a chance that he might switch sides but at this moment, nothing more can be confirmed as of now as the deal is yet to be signed," said an IPL source to PTI news agency.

What are Black Friday, Small Business Saturday, Boxing Day and Cyber Monday sales With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. Most major retailers slashed their seasonal hiring.

Rajasthan for the last 25 years, Congress is hoping to buck the trend banking on Gehlot's «welfarism» and promises made in its manifesto while the BJP seeks to oust the «corrupt» government by vociferously raising issues concerning farmers, women and youth. Since 1998, the Congress and BJP have been coming to power in the state alternately after every five years. Congress in its manifesto promised to double the insurance sum under the flagship Chiranjeevi health insurance from Rs 25 lakh to Rs 50 lakh, 10 lakh jobs including 4 lakh government jobs and continue the Old Pension Scheme. Prime Minister Narendra Modi has sharply attacked the Congress in his rallies and highlighted how the people were paying more in the state in terms of prices of petrol and diesel.

Amazon was hit by strikes at various locations in Britain, Germany and Italy during the annual «Black Friday» shopping extravaganza as workers demand higher wages and better working conditions. UNI Global Union said Amazon would face strikes and protests in more than 30 countries around the world, including the United States, as part of a "Make Amazon Pay" campaign. «Workers know that it doesn't matter what country you're in or what your job title is. We are all united in the fight for higher wages, an end to unreasonable quotas and a voice on the job,» said Christy Hoffman, general secretary of UNI Global Union. «That's what workers in Coventry are striking for and that is why workers around the world are standing up to Make Amazon Pay,» Hoffman said. Held the day after the US Thanksgiving holiday, «Black Friday» has been increasingly adopted in Europe and beyond, with stores offering big discounts to kick off shopping for the holiday gift-giving season. More than 1,000 workers went on strike at an Amazon hub in Coventry, England, which employs 2,300 people and supplies other warehouses, said Stuart Richards, spokesman for the GMB union. In Germany, the industrial action called by Union Verdi began overnight Thursday, affecting five out of the US e-commerce giant's 20 logistics sites in Europe's biggest economy. Amazon said the strikes in the UK and Germany would have no impact on customers. Workers at the Amazon hub in Castel San Giovanni, between Piacenza and Milan, joined the strike.

Gaza on Saturday by Palestinian militant group Hamas, officials said, following the release of 24 hostages during the first day of a planned four-day truce on Friday. Israeli security officials were reviewing the list, said a statement from the office of Prime Minister Benjamin Netanyahu, whose government promised to work toward the release of all hostages taken by Hamas in an attack on Israel on Oct. 7. The released hostages, including Israeli women and children and Thai farm workers, were transferred out of Gaza and handed over to Egyptian authorities at the Rafah border crossing, accompanied by eight staff members of the International Committee of the Red Cross (ICRC) in a four-car convoy, the ICRC said.

domestic produce, as opposed to imported blooms. India's increasing cultivation of exotic flowers such as orchids, carnations and tulips is meeting the rising demand.

Godrej Industries Ltd for ₹300 crore. Currently, Nature’s Basket operates 32 stores as an upmarket food retailer. In contrast, Artisan Pantry will be more luxe, offering imported wines, a diverse range of cheese, a dedicated section for artisan chocolates, honey, gourmet fruits, and vegetables such as Yuzu Lemon, multicolored corn, Japanese Apple Fuji, and more.