Newsletter | Hyundai Motor India IPO opens; India-Canada tensions; Infosys shares hit a record high & more
Hyundai Motor India Ltd.’s initial public offering (IPO) will kick off for bidding today (October 15) and run until Thursday, October 17. Ahead of the issue opening, the automaker has raised ₹8,315 crore from 225 anchor investors.
The company is losing its steam in the unlisted market as the premium has been declining gradually. Last heard, shares of Hyundai Motor India were commanding a grey market premium (GMP) of ₹45 per share, suggesting a listing pop of just 2.3% to the investors, above the higher end of the price band.
Infosys shares hit a record high ahead of Q2 results; Here is what is expected
Shares of Bengaluru-based technology services provider Infosys Ltd. hit a record high on Tuesday, October 15, having gained for the third day in a row.
The stock made a record high of ₹1,991 in the early minutes of trade on Tuesday and has now gained in seven out of the last eight trading sessions. Infosys shares have hit a record high ahead of their September quarter results, which are due to be reported on Thursday, October 17. Shares of Infosys have recovered over 47% from the recent 52-week low of ₹1,351, which it had declined to in November of last year.
‘India possibly, if not probably’ behind Khalistan Tiger Force chief’s death: Justin Trudeau
Canada Prime Minister Justin Trudeau in a press conference on Monday (local time) said the Indian government was involved in the killing of a “Canadian on Canadian soil” Khalistan Tiger Force chief Hardeep Singh Nijjar last year.
Trudeau said that through Canada’s intelligence agencies, it had come to the fore that “India was possibly if not probably, behind Nijjar’s killing.”Khalistan Tiger Force chief Hardeep Singh Nijjar was shot dead in Surrey, Canada in June 2023, by two youths, on the premises of the Guru Nanak Sikh Gurdwara Sahib, of which he was also the head.
India expels six Canadian diplomats, orders them to leave country by October 19
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AI won’t reduce jobs — it will reshape them, says Cognizant CEO Ravi Kumar
Ravi Kumar, CEO of Cognizant, remains optimistic about the potential of artificial intelligence (AI) to reshape the IT sector in India and globally. While there are concerns about job reductions due to AI’s increasing capabilities, Kumar envisions a different future. In an interview with CNBC-TV18, Kumar confidently stated that rather than eliminating jobs, AI will pave the way for creating more roles. “Jobs of the past will go away,” he acknowledged, “but significantly, more jobs of the future will be created.”
He stressed that AI would act as an equaliser, removing barriers to good jobs and levelling the playing field across various occupations. In his view, AI will create a dynamic where gaps within and between professions will shrink, allowing more individuals to enter the workforce in emerging fields.
Star Health Insurance breach: How to safeguard your data and rights as a policyholder
Data breaches have become an unfortunate reality in today’s digital age. A recent incident involving Star Health Insurance, India’s largest health insurer, stresses the risks associated with compromised data. Following this breach, which exposed sensitive customer information, it’s become essential for policyholders to understand their rights and the steps they should take to protect themselves.
The impact of a data breach
When personal data is compromised, the consequences can be severe. Affected individuals may face risks such as identity theft, unauthorised financial transactions, and potential misuse of sensitive information.
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Nobel
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West Asia Crisis — has defiance of international law become the norm!
The era of short wars is over. The Russia-Ukraine war, now three years long, and the Israel-Hamas conflict, which has lasted over a year, clearly illustrate this paradigm—regardless of whether the wars are between state and non-state actors or involve any combination thereof. Both conflicts have the potential to escalate to a point of no return due to either intended or accidental actions, and they may lead to unintended regional and global consequences.
Complete victory appears near impossible whether you are a super power or middle power. Unfortunately the international order has completely broken down and defiance of the existing international law especially the international humanitarian law has become a favourite past time of the powerful countries.
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Nippon India MF introduces two new AAA-rated financial services index funds
Nippon India Mutual Fund has announced the launch of two new index funds, both designed to offer investors exposure to AAA-rated financial services securities, with set maturity timelines.The two schemes track CRISIL-IBX indices, each with different maturity dates: January 2028 and December 2026.
Nippon India CRISIL – IBX AAA Financial Services – Jan 2028 Index FundThis open-ended index fund aims to mirror the performance of the CRISIL-IBX AAA Financial Services Index – Jan 2028.The scheme provides an opportunity for investors to tap into AAA-rated financial services securities, with a maturity target of January 2028. The new fund offer (NFO) opens for subscription on October 15, 2024, and closes on October 21, 2024.
Why this expert considers copper a strategic investment for your portfolio
Edgar Basto, Global COO of BHP, believes copper is on the brink of a significant bull run. He attributes this surge to the ongoing energy transition and advancements in technology.”We expect that copper demand will grow by 70% relative to this year up to 2050,” he told CNBC-TV18.The demand for copper is set to surge, fueled by increasing data center usage and the growing need for sustainable infrastructure.However, Basto cautioned that supply challenges could hinder growth.”Copper is becoming more and more difficult to find. The jurisdictions where it is located face delays in bringing it to market,” he explained.
Diwali bonus for women under Ladki Bahin Yojana: Check who qualifies and how much they get
The Maharashtra government has unveiled the Diwali Bonus 2024 as part of the Ladki Bahin Yojana. This initiative aims to support women across the state by providing direct financial assistance.
According to the most recent notification, officials will transfer the fourth and fifth instalment payments of ₹3,000 to the bank accounts of selected women as part of the Ladki Bahin
Yojana Diwali Bonus 2024 programme.
Key details of the Diwali bonusUnder the Mukhyamantri Majhi Ladki Bahin Yojana, women in Maharashtra receive financial aid from the government.As part of the Diwali celebrations, the state government plans to disburse the October and November instalments early.
We’ll see you tomorrow with another 11:11
