Metro Brands & Bata India are new ‘buys’ on IIFL’s list- Here’s why; MyGate expands into smart home ecosystem; Expert views & more
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Metro Brands and Bata India are the new ‘buys’ on IIFL’s list — Here’s why
The shares of footwear brands were in focus on October 14 as brokerage firm IIFL initiated coverage on Bata India, Metro Brands and Relaxo.
The brokerage firm believes the organised footwear industry in India is well poised to deliver mid-teens growth in the medium term, driven by consistent increases in incomes and a steady shift towards the organised channel.The analyst expects companies with higher exposure to four themes — women’s footwear, premium footwear, sports and athleisure, and brand outlets — to be well poised to deliver higher growth.
Retail investors, FPIs cut stake in Paytm even as Mutual Fund holding rises
Small retail investors and foreign portfolio investors (FPIs) cut their stake in One97 Communications, parent company of payments aggregator Paytm during the September quarter, latest shareholding pattern shows.
The number of small shareholders, those with authorised share capital less than ?2 lakh is down to 10.27 lakh, from 11.43 lakh earlier. In percentage terms, retail shareholding as declined from 14.28% in June to 13.19% at the end of the September quarter.Foreign portfolio investors or FPIs too have trimmed their stake in Paytm during the September quarter. The stock, which has no promoter holding, saw FPIs cut their stake to 55.53% from 58.24% at the end of the June quarter.
President’s rule in Jammu and Kashmir revoked after 5 years ahead of new government formation
President's rule has been withdrawn from Jammu and Kashmir after five years of its implementation in October 2019, the government said in a notification on October 14.
“The order dated the 31st October, 2019 in relation to the Union territory of Jammu and Kashmir shall stand revoked immediately before the appointment of the Chief Minister under section 54 of the Jammu and Kashmir Reorganisation Act, 2019,” the Ministry of Home Affairs said. The development comes as the National Conference (NC)-Congress alliance has staked claim to form the government in Jammu and Kashmir after securing a clear majority in the polls held in September-October. The Communist Party of India (Marxist), the Aam Aadmi Party (AAP) and several Independent legislators have extended support to the coalition.
#TechTalks??
MyGate expands into smart home ecosystem with new smart door locks
Mygate started off as a mobile application designed to manage security and community living in housing societies in 2016. Now, Shreyans Daga, Co-founder and CTO, tells CNBC-TV18 that the company plans to expand and create a smart home ecosystem that goes beyond, starting with the introduction of smart door locks.
By integrating various smart devices—such as security cameras and video doorbells—into a single app, MyGate aims to provide users with seamless control over their homes, positioning itself as a key player in the smart home market. “Our vision is to become a comprehensive platform where users can manage all their smart devices effortlessly through a single app, giving them full control of their home from anywhere,” Daga explained.
Web Summit Qatar 2024: A hub for entrepreneurs and investors to shape global trends
Qatar is gearing up to host Web Summit 2024, a four-day event that will unite founders, entrepreneurs, and investors to discuss technology and global trends. Since its inception in 2009, Web Summit has attracted over a million attendees.To explore what’s ahead for this year's event and the upcoming Web Summit Qatar, scheduled for February, CNBC-TV18’s Shruti Mishra interviewed Paddy Cosgrave, the Founder and CEO, to get insights into the event that first began as a 150-person gathering in Dublin.
Cosgrave said, “Web Summit is the largest technology conference in the world. It's the largest annual gathering of technology startups and technology investors. I started it what feels like a very long time ago to go from my bedroom in Dublin, it started as a 150-person gathering and over the years, it's grown into something a lot, lot bigger.”
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#PersonalFinance??
Demat accounts reach 17.5 crore in September 2024
The total number of demat accounts in India surged to 17.5 crore in September 2024, according to Motilal Oswal Financial Services. This marks an increase of 44 lakh accounts added in the month.
This brings the average monthly additions to 40 lakh for the financial year 2024-25.In September 2024, Central Depository Services Limited (CDSL) achieved an increase in its share of total demat accounts.In contrast, NSDL (National Securities Depository Limited) experienced a decline, losing 410 basis points (bp) in total market share and 90 bp in incremental demat accounts year-on-year.
Self-employed term insurance purchases rise by 50%: Policybazaar
The self-employed sector in India has seen 50% year-on-year growth in term insurance purchases, according to Policybazaar report. This makes up 70% of sales from plans specifically designed for this demographic.This increase is largely attributed to tailored term plans that simplify the application process by eliminating the need for traditional income documentation, such as Income Tax Returns (ITR) or salary proof, Policybazaar said.Insurers have started using digital metrics to evaluate the financial stability of self-employed individuals and business owners. Key factors now include creditworthiness, assessed through credit or loan histories, and surrogate proofs like the Insured Declared Value (IDV) of vehicles.
#ExpertEdge??
Why builders can’t be allowed to build over public utilities?
The Bombay High Court came down heavily on the Commissioner of Thane Municipal Corporation and the builder saying nullahs are used by lakhs of people in the respective area, and any construction over them would block the free flow of nullah, and it must be pointed out that many other cities also have the unseemly spectacle of developers eyeing nullahs to build, warns Chartered Accountant and Legal Expert S Murlidharan.
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