IEP Chandigarh

Chaudhary Charan Singh Haryana Agricultural University Scientists have made another achievement in the name of the university. The integrated paddy thresher machine with dryer, de-husker and polisher developed by the scientists of the university has received a patent from the Patent Office of the Government of India. 

Sharing information in this regard a university spokesperson said that this machine developed by the scientists of the College of Agricultural Engineering and Technology will prove to be very beneficial for the farmers. The machine was invented by Dr. Mukesh Jain Department of Farm Machinery and Power Engineering, Dr. Kanchan K. Singh, former ADG of ICAR, and Professor Satya of IIT Delhi. This machine has received its certificate from the Government of India, whose patent number is 536920.

Vice Chancellor Prof. B.R. Kamboj congratulated all the scientists on getting the patent for the development of new technology. He said that rice is one of the main food items of the people. He said that now farmers will be able to detach paddy grains from the crop, dry de-husk (for brown rice), and polish (for white rice) using the machine on the fields itself. Earlier, farmers had to go to the mill to extract rice from paddy. Till now there was no such machine for extracting rice in the agricultural field itself. Now farmers will be able to produce brown rice for their home consumption as well.

Brown rice has more nutrients than white rice because it does not go through any refining or polishing process. Paddy husks are removed only from it. This provides an adequate amount of calories to the body. It is also a good source of fiber, vitamins, and minerals. Eating brown rice keeps cholesterol under control. Along with keeping bones healthy diabetes and weight under control, it also increases immunity.

Dean College of Agricultural Engineering and Technology, Dr. S.K. Pahuja said that this machine is suitable for a 50 HP tractor. The dryer includes 18 ceramic infrared heaters (650 watts each). The rice production capacity of this machine reaches 150 kg/hour. The price of the machine is Rs 6 lakh. AGENCIES

IEP Chandigarh

Chaudhary Devi Lal University (CDLU), Sirsa, and Chaudhary Bansi Lal University (CBLU), Bhiwani, have inked a Memorandum of Understanding (MOU) to establish an evaluation centre aimed at streamlining and expediting the evaluation process of UG and PG examination answer sheets. This initiative focuses on benefiting students by ensuring timely and efficient evaluation so the results will be declared well in time.

The event, held at the Vice Chancellor’s office at CDLU, witnessed the esteemed presence of Professor Ajmer Singh Malik, Vice Chancellor of CDLU, and Professor Deepti Dharmani, Vice Chancellor of CBLU. The registrars of both universities, Dr. Rajesh Kumar Bansal from CDLU and Dr. Reetu Singh from CBLU, signed the MOU.

According to the MOU, the Vice Chancellors of both universities are authorized to establish examination centres for the evaluation of answer sheets. The entire evaluation process will be coordinated through the confidential branches of both universities. This agreement aims to benefit both institutions by conserving resources and ensuring that exam results are announced within the stipulated timeframe.

The universities will collaborate to streamline the examination system as much as possible. The responsibility for the maintenance of answer sheets and the allocation of eligible teachers to the evaluation centre will lie with the faculty heads, department heads, or the coordinator. Dr. Amit Sangwan, Director of Public Relations, Dr. Omda Lamba, Assistant Registrar of the Vice Chancellor’s Office, Sanjay Tiwari, Assistant Registrar of the Secrecy Branch were present on the occasion.

IEP Dehradun
मुख्यमंत्री पुष्कर सिंह धामी ने रविवार को उत्तराखण्ड सदन नई दिल्ली से वर्चुअल रूप से बाबा केदारनाथ डोली यात्रा के साथ चलने वाले ’मुख्य सेवक के भंडारा कार्यक्रम के 300 सेवादारों की टीम को मुख्य सेवक सदन मुख्यमंत्री कैम्प कार्यालय देहरादून से हरी झण्डी दिखाकर रवाना किया।

मुख्यमंत्री ने बाबा केदारनाथ डोली यात्रा के साथ चलने वाले ’मुख्य सेवक के भंडारा कार्यक्रम की शुभकामनायें देते हुये कहा कि आगामी 10 मई से हमारी चारधाम यात्रा प्रारम्भ होने वाली है, जो हमारे लिये उत्सव का वातावरण  तैयार करती है तथा साथ ही हम सब चारधाम यात्रा जल्दी से जल्दी प्रारम्भ हो, इसका इन्तजार बेसब्री से करते हैं। उन्होंने कहा कि चारधाम यात्रा का एक बहुत बड़ा उत्सव पूरे उत्तराखण्ड, देशवासियों, भक्तगणों, श्रद्धालुओं, तीर्थयात्रियों के लिये होता है और इस अवसर पर हम सब लोग अपने-अपने तरीके से इस पुण्य में सम्मिलित होते हैं तथा इस पुण्य में भण्डारे के आयोजन की अपनी अलग ही भूमिका है, जिसके लिये उन्होंने इस आयोजन में शामिल टीम लीडर हिमांशु चमोली सहित महाराष्ट्र, राजस्थान, दिल्ली, उत्तर प्रदेश, उत्तराखण्ड आदि के युवाओं को हार्दिक बधाई व शुभकामना दी।

मुख्यमंत्री ने इस मौके पर पिछले वर्ष आयोजित किये गये ’मुख्य सेवक के भंडारा कार्यक्रम का उल्लेख करते हुये कहा कि पिछले

New Delhi,

 The week went by and had four trading days with a mid-week holiday on May 1, thereby making it two periods of two days each. The volatility witnessed was several notches higher than usual. Surprises one to note that just about 10 days ago, India VIX, which is the volatility index, crashed to a new low. Maybe it was the lull before the storm.

On Tuesday and Friday, NIFTY made new highs and then fell sharply, closing in the red. Not sure how one should read it, but the scene is not comfortable. At the end of the week, BSESENSEX gained 147.99 points or 0.20 per cent to close at 73,878.15 points, while NIFTY gained 55.90 points or 0.25 per cent to close at 22,475.85 points.

The broader indices saw BSE100, BSE200 and BSE500 gain 0.55 per cent, 0.70 per cent and 0.61 per cent respectively. BSEMIDCAP was up 1.99 per cent, while BSESMALLCAP was down 0.10 per cent. Plenty of mixed signals in the marketplace. Markets gained on two sessions and lost on two. Incidentally, gains and losses alternated with Monday and Thursday gaining while Tuesday and Friday were losing days.

The Indian Rupee lost eight paise or 0.10 per cent to close at Rs 83.42 to the US Dollar. Dow Jones was on a roller coaster ride with gains on four days and losses on one day. Wednesday saw the FED meet for its policy review meeting, where they decided on expected lines to keep interest rates unchanged.

After the meeting, the commentary spelt out very clearly that inflation higher than 2 per cent will not see any rate cuts. This saw markets rallying sharply on Thursday and Friday. One wonders why markets in the US are hell-bent on just a rate cut. One needs to see that economic data is red hot and points to a booming economy. Things could not be better. Why bother about a rate cut at all?

Coming to our markets and the crazy movement we witnessed last week. Tuesday, April 30, saw NIFTY make a new lifetime high at 22,783 points. The previous day’s close was 22,643 points.

After the high, markets fell sharply and closed at 22,604 points and closed in the red, losing 39 points. BSESENSEX made a high at 75,111 points but did not make a new high. The previous day’s close was 74,671 points. From there, the market fell to 74,488 points, losing 183 points.

Friday, May 3, was even more volatile.

NIFTY made a new lifetime high yet again at 22,794 points against the previous day’s close of 22,648 points. It fell very sharply to close at 22,475 points, a loss of 319 points from the high and 173 points from the previous day’s close.

BSESENSEX made a high at 75,095 points against the previous day’s close of 74,611 points. From there, it fell very sharply to lose 1,217 points from the high and 610 points from the previous day’s close. Indeed, very volatile and a bit scary.

The week ahead has three primary issues tapping the capital markets. Indegene Limited is tapping the markets with Indegene Limited tapping the capital markets with its fresh issue for Rs 760 crore and an offer for sale of 2,39,32,732 shares in a price band of Rs 430-452.

The issue would open on Monday, May 6, and close on Wednesday, May 8. The fresh issue and offer for sale would raise Rs 1,841 crore at the top end of the price band.

The company provides digital-led commercialisation services for the life sciences industry, including bio-pharmaceutical, emerging biotech and medical devices companies, that assist them with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and the sales and marketing of their products.

Indigene is an integrated solutions provider, and almost 85 per cent of its revenues come from its US subsidiary.

The company reported revenues of Rs 2,306 crore for the year ended March 23, an EBITDA of 19.69 per cent, and a Profit after-tax margin of 11.54 per cent. In absolute terms, the profit after tax was Rs 266.09 crore. The EPS on a fully diluted basis was Rs 11.97. At this EPS, the PE band for the issue is 35.92-37.78.

There is no comparable company or peer set in the Indian space, while there are some comparable foreign companies globally. The share offers an opportunity for investors with a medium to long-term outlook. There could be listing pop, as well as available considering that markets are at lifetime highs or thereabouts.

The second issue is from Aadhar Housing Finance Limited. The issue is entirely an offer for the sale of Rs 2,800 crore. The price band is Rs 300-315. The selling shareholder is the promoter. This company was acquired from the DHFL group when they fell on bad times around 2016-17.

The company acquired was clean and had no issues while the group was struggling with various issues. The issue will open on Wednesday, May 8, and close on Friday, May 10. The company is a housing Finance company focused on the low-income housing segment with a cap on ticket size at Rs 15 lakh.

In terms of performance, the company reported a gross AUM of just under Rs 20,000 crore at the end of the nine-month period ended December 2023. A mix of the clients they serve is 60 per cent salaried and 40 per cent self-employed. The average ticket size is between Rs 9 lakh to 10 ten lakh.

The company reported an EPS of Rs 13.8 for the year ended March 2023, which on a fully diluted basis was Rs 13.4. The PE band for the issue of diluted earnings is 22.4-23.5. NAV for the company at the end of December 23 is Rs 107.6. The price to book at this NAV is 2.92 at the top end of the band.

Based on the post-issue, the NAV would improve to Rs 123.07 at the top end of the band, and the same ratio would be at 2.56 times the price to book. This compared more than favourably with the peer set. There is money to be made in the issue in the medium to long term. There would be some listing pop as well.

The third issue is from TBO TEK Limited. It consists of a fresh issue of Rs 400 crore and an offer for sale of 1,25,06,797 equity shares. The price band is Rs 875-920. The issue would open on Wednesday, May 8, and close on Friday, May 10.

The company operates an online B2B travel portal distribution platform that connects buyers and sellers. It is present in the airline and hotel business currently. It earns a commission from the airlines whose tickets are sold on the platform while it charges a markup on the rooms sold on the platform.

The company is in a negative working capital cycle as it pays after receiving the money. It is adding new offerings on the platform and has recently added the Eurail on its platform recently.

The company reported an EPS of Rs 14.07 on a fully diluted basis for the year ended March 2023, and the PE band would be 62.19-65.39 on this EPS. There is no comparable peer in India in this space, and the listed players are basically online travel players like Make My Trip, Easy Trip and Yatra Online, who would be using the platform provided by TBO TEL Limited.

The issue offers scope on listing and in the medium to long term as well.

Coming to the markets, we are at a crossroads once again. On the upside, I would go long only if 22,800 on the NIFTY and 75,200 on the BSESENSEX are crossed and sustained. On the downside, immediate support exists at 22,100 points on NIFTY and 72,800 points on BSESENSEX. It is time to be cautious, as the wild gyrations last week are not giving comfort. The strategy would be to sell on any rallies and buy on sharp dips.

AGENCIES

New Delhi,

 The performance of large cap stocks has been impacted by FIIs remaining net sellers in the market.

Vinod Nair, Head of Research, Geojit Financial Services said the ongoing results season will be a key factor for investors to align their portfolios. The market will also remain vigilant about the BoE policy and GDP data from the Eurozone.

“We expect a degree of consolidation in the market due to expensive valuations and any election-led jitters,” he said.

The FIIs continued to remain net sellers in the market, which has impacted the performance of large cap stocks, he added.

A marginally better-than-anticipated Q4 earnings and a correction in oil prices led to a positive start to the domestic market during the week. However, a mixed trend in the global market after the release of a status quo FED policy with caution about sustaining a high inflation trend led to a broad-based correction in the domestic market, he said.

The positive commentary from the auto companies on recent volume numbers led the sector to outperform. Additionally, stock-specific action was visible in banks and the power sector on account of positive Q4 results and increased power demand, he said.

Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services said: “We expect the market to consolidate in a broader range.”

 AGENCIES

New Delhi,

 India has discussed the issues of pharmaceutical pricing control in generic drugs and the need for closer cooperation in critical minerals with Australia, the Union Commerce Ministry said on Saturday.

The need for closer collaboration for establishing disease-free zones for shrimps and prawns in India also came up for discussion at the first Joint Committee Meeting (JCM) in Canberra under the India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), the ministry said.

Besides, the JCM meeting also addressed certain critical services issues, including the consideration of India’s request for facilitation of cross-border e-payments and mutual recognition of qualifications in professions like nursing and dentistry.

India and Australia are looking at joint investments to build new supply chains underpinned by critical minerals processed in Australia that will help India’s plans to lower emissions from its electricity network and become a global manufacturing hub, for electric vehicles and smartphones.

Critical minerals are a key raw material in these hi-tech products. Currently, China has a near-monopoly on critical minerals. India and Australia are both keen to set up a strong alternative supply chain to break China’s dominance of the market.

“The two sides have decided to work closely on timely resolution of market access issues, deepen people-to-people contacts, and create an institutional mechanism for sharing of preferential import data,” according to the ministry statement.

India and Australia have already signed an Economic Cooperation and Trade Agreement (ECTA) that came into effect on December 29, 2022.

“Both sides while acknowledging the smooth implementation of the ECTA, briefly elaborated on ECTA implementation issues including MRAs (mutual recognition agreements) on organic products, market access issues related to products like okra, pomegranate, grapes, cottage cheese, .pharmaceutical pricing control in Australia particularly on generics, progress made by the working group on whisky and wine,” the ministry said.

The meeting also touched upon the WTO issues wherein both sides appreciated the Commerce Secretary’s stand on the importance of the support of Australia for early resolution of the long pending issue of a permanent solution to public stock holding (PSH).

Australia sought the support of India for the plurilateral arrangement for domestic support for services. Both sides agreed to discuss these matters intersessionally if required.

AGENCIES

Seoul,

 Sales of eco-friendly cars surpassed 100,000 units in the first quarter in South Korea on booming demand for hybrid vehicles, industry data showed on Sunday.

A total of 101,727 environment-friendly cars made by five South Korean carmakers, including Hyundai Motor and Kia, were sold during the January-March period, up 8.7 per cent from a year earlier, according to the data.

Out of this total, 85,828 units, or 84.4 per cent, were hybrid cars, soaring 42.4 per cent from the same period last year, reports Yonhap news agency.

Sales of electric vehicles, meanwhile, plunged 51.4 per cent on-year to 15,237 units in the first quarter.

There has been a global slowdown in EV sales.

Even Elon Musk has said that EV adoption rate globally is “under pressure” and a lot of other auto manufacturers are “pulling back on EVs and pursuing plug-in hybrids instead.”

By model, Kia’s Sorento Hybrid was the best-selling model in the first quarter with 19,729 units sold, followed by Hyundai’s Santa Fe Hybrid with 15,981 units and Kia’s Carnival Hybrid with 12,203 units.

AGENCIES

New Delhi,

 Drug makers Cipla and Glenmark are recalling their products from the US market due to manufacturing issues.

In accordance with the latest Enforcement Report from the US Food and Drug Administration (USFDA), Cipla’s subsidiary in New Jersey is recalling 59,244 packs of Ipratropium Bromide and Albuterol Sulfate Inhalation Solution.

The reason for recalling the affected lot of Cipla products is “short fill”.

“Complaints received of less fill volume in respules and few drops of liquid observed in the intact pouch,” the US health regulator said.

The recalled drug is used to help control the symptoms of lung diseases, including asthma, chronic bronchitis and emphysema.

As mentioned by the USFDA, Glenmark is recalling 3,264 bottles of Diltiazem Hydrochloride extended-release capsules, which are used to treat high blood pressure.

The US-based arm of the company, Glenmark Pharmaceuticals initiated the nationwide recall of the drug due to “failed dissolution specifications”.

Meanwhile, drug maker Lupin has recalled products in the US market for manufacturing issues, according to the US health regulator.

As per the latest Enforcement Report by the USFDA, Lupin recalled 26,352 bottles of Rifampin Capsules (300 mg), an antibiotic medication in the US market.

AGENCIES