Le Travenues Technology Ltd, which owns online travel aggregator Ixigo, is set to make its public debut on Monday. The company has set a price band of Rs 88-93 per share of its initial public offering (IPO). The last day to apply for an IPO will be June 12. The lot size of the IPO is 161 shares. To bid in the IPO, retail investors will have to invest Rs 14,973. Ahead of its IPO, it raised over Rs 333 crore from 23 anchor investors at Rs 93 per equity share. The issue size of Ixigo IPO is Rs 740 crore. The fresh issue is worth Rs 120 crore, while the offer for sale (OFS) is worth Rs 620 crore. The company has reserved 75 per cent of the IPO for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers, and 10 per cent for retail investors.  Along with the company’s website, it also operates an app. In FY 2023-24, the company’s revenue in the first 9 months (till December 31) was Rs 491 crore. During this period, the company had made a profit of Rs 66 crore. AGENCIES

Last Week, Indian equity markets witnessed high volatility sessions due to an unexpected outcome in the 2024 Lok Sabha elections.

National Stock Exchange (NSE) benchmark Nifty was within the range of 21,300-23,300 points, the widest after May 2020.

A new government is being formed on Sunday and it is believed that stability can be seen in the market for next week.

The outlook for the market will be guided by the major domestic and global economic data.

Retail inflation (CPI and Index of Industrial Production) data may be released on June 12. The retail inflation rate in March and April was 4.85 per cent and 4.83 per cent respectively. Economists believe that in May this rate will be 4.8 per cent. The IIP rate is expected to be 3.9 per cent in April, which was earlier 4.9 per cent.

Globally, significant events are scheduled for June 12, 2024, including the announcement of US core and consumer price inflation figures, alongside the US Federal Reserve’s interest rate decision and the Federal Open Market Committee’s (FOMC) economic projections. The Fed may keep the interest rates between 5.25 to 5.50 per cent. The first interest rate cut may be seen in September or December. At the same time, important data related to the economy of Japan, the UK and China may also come next week.

Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said, “Nifty staged impressive rebounds from their respective 200-day exponential moving averages (200-DMA). Nifty is nearing its all-time high of 23338, which acts as immediate resistance. A break above this level could propel the index towards 23500 and even 23800. On the downside, the 23000-22800 zone offers immediate support, with the crucial 20-DMA around 22600 acting as a stronger floor.  AGENCIES

 Rosneft CEO Igor Sechin presented the keynote speech at the 2024 SPIEF Energy Panel. Organised with the support of Rosneft oil company, the Energy panel was held during the XXVII St Petersburg International Economic Forum.

Rosneft CEO Igor Sechin presented the keynote speech titled “Energy transition and phantom barrels: Abandon hope, all ye who enter here. Not everyone will be taken to the bright future of the global energy industry!”

He presented an analysis of the current situation in the energy market, which is experiencing an imbalance.

In his speech, the head of Rosneft paid special attention to the energy transition, which, despite the efforts of its adherents, is failing.

According to him, despite about $10 trillion invested in the energy transition over the past two decades worldwide, alternative energy sources have failed to replace traditional fuels.

Currently, wind and solar power provide less than 5 per cent of the world’s energy production, and electric vehicles account for about 3 per cent.

Over the same period of time, oil, gas and coal consumption grew by a cumulative 35 per cent, while their combined share of the global energy mix remained unchanged.

Huge investments made over the past decades in the development of alternative energy sources have not led to the displacement of fossil fuels from the energy market, and the green transition strategy in its current form cannot ensure the sufficiency, availability and reliability of energy sources, Igor Sechin emphasised.

The Rosneft chief also noted the need to find new opportunities and ways to develop the global energy sector within the framework of a multipolar world.

Developed countries have made the greatest contribution to the climate crisis, accounting for the majority of emissions, he added.

Citing data from the UN and non-governmental research institutes, Igor Sechin said that developed countries account for 65 per cent of the cumulative emissions produced over the last 200 years, while the world’s 10 per cent wealthiest population is responsible for half of all carbon dioxide (CO2) emissions.

Meanwhile, the richest 1 per cent of the world’s population accounts for twice as much carbon dioxide emissions as the poorest 50 per cent, and the entire continent of Africa produces less than 4 per cent of the world’s emissions.

Further, Igor Sechin underlined that the energy transition should be well-balanced and focused on addressing the interests of the majority that will ensure the growth of energy consumption in the coming years, that is, developing countries.

He also noted that to achieve energy security, it is necessary to ensure the sufficiency, affordability and reliability of energy sources.

Aggressive promotion of the “green agenda” actually means declaring an energy war on the majority of the world’s population, and overcoming energy inequality is impossible without reliable supplies of oil and gas, said the Rosneft CEO.

He noted that the developing countries in Asia and Africa, which are yet to overcome energy poverty, will drive the demand for electricity.

By 2030, demand growth in developing countries is expected to account for 95 per cent of global consumption growth in aggregate, due to a high population growth in these countries.

In such a scenario, a reduction in global consumption of fossil resources would automatically mean that the problem of hunger and energy poverty would not only persist but also worsen.

On one hand, giving up oil will mean giving up the modern way of life, on the other hand, for many countries, increased oil consumption means access to the benefits of civilisation, Igor Sechin said.

He added that the highest growth in oil demand is expected in Asian countries, which are Russia’s main trading partners.

India’s economy has made significant strides in recent years. Since 2010, energy demand has grown by 45 per cent, making the country the third largest energy consumer in the world.

Over the next five years, India is projected to continue its strong economic momentum and become one of the top three largest economies in the world with a GDP of $5 trillion, and by 2050 will overtake the US in terms of the size of the economy.

India’s end-use energy consumption is set to grow by 90 per cent by 2050 — one of the fastest growth rates in the world.

Despite the increasing pressure from sanctions, Russia is retaining its role as one of the leaders in the global energy sector.

Taking into account the influencing factors, Russia continues to realise its energy development potential and strengthen its position in the global energy market.

Recently, the President of the Russian Federation Vladimir Putin emphasised the importance of reorienting Russian exports to the fast-growing markets of the Asia-Pacific region.

Igor Sechin reminded that the turnaround of Russian energy exports to Asia-Pacific markets began with the construction of the ESPO pipeline (the Eastern Siberia – Pacific Ocean pipelines) and investments in India’s oil and gas sector long before the European markets were closed to Russia.

Currently, the Asia-Pacific region accounts for more than 80 per cent of Russian oil exports, and it is already evident that the reorientation of supplies has fully justified itself, Igor Sechin said.

Now that the failure of the “green transition” concept is evident, we have to develop a new strategy for a reliable and secure energy supply tailored to the needs of developing countries, the Rosneft CEO said.  AGENCIES

New Delhi, June 9

 As Narendra Modi is set to take oath as Prime Minister on Sunday, the tech industry hailed his record third term, saying that this continuity will promise stability, consistency and effectiveness in governance, taking the country closer to ‘Vision India@2047’.

Congratulating PM Modi on winning the Lok Sabha elections for the third time, Agendra Kumar, Managing Director, Esri India told IANS, with the new government “we can expect the use of satellite imaging, GIS, GeoAI and digital twins to support the developmental initiatives of the government for both, urban and rural economies”.

“Technological progress and innovation have been key areas of focus for PM Modi,” he added.

Paritosh Prajapati, CEO of telecom gear maker GX Group, said that under PM Modi’s leadership India has witnessed major reforms in the last couple of years and the continuation of the new government will set those reforms into action.

Manufacturing has been a major sector where the automobile, electronics, and pharmaceutical sectors have been growing extremely fast.

“India as a stage now, we see a huge impact in the coming year and the ministry will drive it forward for new transformation and bring prosperity in every sector and every person in the country creating new opportunities, new jobs and new goals,” Prajapati said.

In addition, Ritesh Malik, founder of Innov8 and a serial investor, said that in the last 10 years, the country has witnessed significant growth.

“In the next five years, our ecosystem, ease of doing business, Startup India, Make in India Mission, will keep on growing the economy of the country,” Malik added. AGENCIES

Chandigarh:

EGBC (eduVelocity Global Business Challenge) 2024 concluded on a high note, with 109 students enthusiastically pitching their innovative ideas. The event showcased a variety of creative and impactful projects.

Jeya Malhotra emerged as the winner, taking home the grand cash prize of Rs 15,000 for an outstanding pitch on her proposal “Khwaish.”

There was a tie for the first runner-up position. Team Floral Fusion Jam and Avnoor Singh of team Fiscal Falcon both impressed the judges, each receiving a cash prize of Rs 10,000.

The second runner-up position was secured by the Nari Nidhi App, developed by Sehreen and Saumya from team Hustle Squad. Their innovative project earned them a cash prize of Rs 5,000.

Overall, EGBC 2024 was a remarkable event, celebrating the creativity and entrepreneurial spirit of the participating students.

Founder Eduvelocity as well as EGBC mentor Vinu Warrier commented, “What we used to present after an MBA, these students are presenting even better and more constructive ideas.”

One of the judges, Manikkan, noted, “It’s not just about drafting an idea and pitching it to us. What really stands out is the action, execution, and the greater vision of finance involved in the idea.”

Thank you for the support, team EGBC. This was a very enriching experience. The faculty was extremely cooperative and helpful too, said winner -Jeya Malhotra

Israeli Prime Minister Benjamin Netanyahu is set to address lawmakers from both chambers of the US Congress in a rare joint meeting on July 24.Netanyahu’s speech, which will defend his war in Gaza, is controversial in Washington, as President Joe Biden struggles to seal a lasting ceasefire deal in Gaza and his Democratic party grows more divided over the conflict.

Even before the date of the speech was announced, several left-wing Democrats had vowed to boycott it over Netanyahu’s handling of his war with Hamas.

The invitation to Netanyahu was issued last week from the leaders of both parties in the US Congress, including Democrat Chuck Schumer, the Senate majority leader who has been highly critical of Netanyahu.

Schumer, who is the highest-ranking Jewish elected official in the US government, recently called for new elections to be held in Israel.

Speaker of the House Mike Johnson, a Republican, announced the July 24 date late Thursday.

“We look forward to hearing the Israeli government’s vision for defending democracy, combatting terror, and establishing a just and lasting peace in the region,” Johnson wrote on social media.  AGENCIES

Chandigarh:

हैप्पी रोडे द्वारा निर्देशित एक रोचक नई फिल्म, “रोडे कॉलेज,” आज सिनेमाघरों में प्रदर्शित हो रही है। मानव विज, योगराज सिंह, और ईशा रिखी के शानदार प्रदर्शन के साथ, यह फिल्म पंजाब के मोगा जिले में स्थित रोडे कॉलेज में हुए वास्तविक घटनाओं से प्रेरित एक ज़ोरदार कहानी है।

“रोडे कॉलेज” महत्वपूर्ण विषय पर प्रकाश डालती है कि छात्र नेता और उनकी महत्वाकांक्षाएँ कैसे भ्रष्ट राजनीतिज्ञों द्वारा व्यक्तिगत लाभ के लिए बदल दीं जाती हैं। फिल्म दो पीढ़ियों के बीच चलती है, और पंजाब के कॉलेज जीवन का सच्चा रूप उजागर करती है – एक्शन, ड्रामा, रोमांस और बहुत सारी कॉलेज मस्ती के साथ।

मानव विज, जो इस शक्तिशाली फिल्म के साथ पंजाबी सिनेमा में एक बार फिर चमके हैँ, इस फिल्म में अपने प्रतिद्वंद्वी गुरतेज सिंह के खिलाफ एक प्रभावशाली प्रदर्शन प्रस्तुत कर रहे हैं. गुरतेज सिंह की भूमिका योगराज सिंह द्वारा निभाई गई है। ईशा रिखी हमेशा की तरह परदे पर जादू लाती हैं. ये सभी चरित्र और कलाकार रोडे कॉलेज” को एक हमेशा याद रखा जाने वाला ऐतिहासिक अनुभव बनाते हैं। यह फ़िल्म फिल्म उद्योग में भी कई नए चेहरे प्रस्तुत करती है।

हैप्पी रोडे , जिन्हें उनकी चुस्त कथाकला और सधे हुए निर्देशन के लिये प्रतिष्ठित हैँ, इस कथानक में एक ऐसी कड़ियाँ बुनते है जो दर्शकों के साथ गहरे संबंध बनाती है। फिल्म का आज का प्रदर्शन भारत के प्रमुख क्षेत्रों में हो रहा है जिसमें पंजाब, हरियाणा, दिल्ली एनसीआर, और मुंबई शामिल हैं। अंतरराष्ट्रीय रूप से, “रोडे कॉलेज” अब यूके, यूएस, कनाडा, ऑस्ट्रेलिया और न्यू ज़ीलैंड में ग्लोबल दर्शकों तक पहुंचेगी.

समीक्षकों ने पहले ही “रोडे कॉलेज” को अनिवार्य रूप से देखने के लिए कहा है क्योंकि यह सच्चे घटनाओं का वास्तविक चित्रण और युवा, राजनीति, और ईमानदारी जैसे विषयों पर सामायिक टिप्पणी है. इस चोंका देने वाली फिल्म को अवश्य देखें क्योंकि यह युवा नेताओं की सहनशीलता और भ्रष्टाचार के खिलाफ लड़ाई की मार्मिक और मौलिक कहानी है।

अधिक जानकारी के लिए, आधिकारिक टिकटिंग साथी, बुकमाइशो, पर जाएं और “रोडे कॉलेज” के लिए अपने टिकट बुक करें।

Chandigarh:

 A gripping new film, “Rode College,” directed by Happy Rode, has arrived in cinemas today. Featuring stellar performances by Manav Vij, Yograj Singh, and Isha Rikhi, the movie is a compelling drama inspired by true events that took place at Rode College in the Moga district of Punjab.

“Rode College” delves into the important topic of how student leaders and their ambitions are twisted by corrupt politicians for personal gain. The movie spans across two generations, and offers a true flavour of Punjab’s college life- with action, drama, romance and lots of college fun.

Manav Vij, who has come back to Punjabi cinema with this powerful film, delivers a powerful performance against his rival in the film, Gurtej Singh, played by the commendable Yograj Singh. Isha Rikhi brings magic to the screen as always, making “Rode College” an unforgettable cinematic experience. The film also brings forth many new faces to the Industry.

Happy Rode, known for his keen storytelling and directorial prowess, has crafted a narrative that resonates deeply with audiences. The film’s release today spans major regions in India, including Punjab, Haryana, Delhi NCR, and Mumbai. Internationally, “Rode College” is now showing in the UK, US, Canada, Australia, and New Zealand, bringing this story to a global audience.

Critics are already calling “Rode College” a must-watch for its authentic depiction of true events and its timely commentary on the intersection of youth, politics, and integrity. Don’t miss this captivating film that sheds light on the resilience of young leaders and the enduring battle against corruption.

For more information, visit official ticketing partner, BookMyShow, to book your tickets for Rode College.

IEP Chandigarh

The Haryana Government has instructed all IAS and HCS officers to fill their family details on Intra Haryana Portal at the earliest for Comprehensive Cashless Health Facility Scheme (CCHF) card generation.

A letter addressed by the Chief Secretary to the officers stated that the Comprehensive Cashless Health Facility was launched by the Chief Minister on January 1, 2024 to extend health benefits to State Government employees, dependents of only Fisheries and Horticulture employees, all IAS, IPS and IFoS officers and their dependents.

The letter further stated that for generation of CCHF card, it is a mandatory requirement that State Government employees needs to have PPP ID and Aadhaar card generated. Besides, the employees should have already updated their family details (dependents) on Intra Haryana portal, including self-details which should further have been approved by their respective Checker on HRMS portal. Also, the PPP ID of employees and dependents should be duly mapped on the Intra Haryana Portal by the employees himself/herself and not by anyone else.

In the letter, all IAS/HCS officers have been asked to fill his or her family details on Intra Haryana Portal carefully, after which, checker of office of Chief Secretary will verify or approve only the family details on HRMS portal as filled by the concerned officers on their Intra Haryana Portal. The concerned officer will be fully responsible for filling their family details on Intra Haryana Portal. After verification/approval of family details by the checker, the officers can map their family details on Intra Haryana Portal with PPP at their own level, the letter further stated. AGENCIES

IEP Chandigarh

Candidates contesting the Lok Sabha General Elections-2024 and Karnal Assembly by-elections in Haryana will have to submit the details of their election expenditure to the office of the District Election Officer within one month after the results are declared on June 4, 2024. According to the Election Commission of India, candidates who do not submit the details of election expenditure within the stipulated time period may be declared ineligible to contest elections in the future.

Haryana Chief Electoral Officer Mr. Anurag Agarwal informed that this time the maximum limit of election expenditure for the Lok Sabha general elections was fixed at Rs 95 lakh per candidate, whereas for the assembly elections, this limit was Rs 40 lakh. He stated that as per the rules, the calculation of election expenditure starts as soon as the candidate files the nomination form. For this purpose, the candidate has to keep a separate account of their daily election expenditure in a diary and also has to open a separate bank account. The calculation of expenditure continues until the election process is completed. During this period, no candidate can spend more money than the prescribed limit.

Mr. Agarwal emphasized that as soon as the results of the Lok Sabha general elections and Karnal Assembly by-elections are declared on June 4, 2024, it is mandatory for the candidates to submit details of their election expenses within one month from that date. AGENCIES