Author: Kanhaiya

Reliance Jio has announced two new JioBharat feature phones — V3 and V4 4G — at the Indian Mobile Congress 2024. JioBharat V3 and V4 are priced at Rs 1,099 and offer 4G connectivity, along with access to a suite of Jio services such as JioTV, JioCinema, JioPay, JioChat, and more.

JioBharat V3 and V4: Price and availability

Both the JioBharat V3 and V4 are priced at Rs 1,099, but require a monthly recharge plan of Rs 123, which enables unlimited voice calls and 14GB of data. The company stated that these new JioBharat models will be available soon at physical stores as well as on e-commerce platforms JioMart and Amazon India.

JioBharat V3 and JioBharat V4 4G recharge plan

Reliance Jio has also confirmed that both – JioBharat V3 and JioBharat V4 4G – phones will come with Rs 123 recharge plan, which offers unlimited calling and 14GB of data.

JioBharat V3 and JioBharat V4 4G: Features

Design: The JioBharat V3 features a style-centric design language, while the JioBharat V4 4G has a sleek and minimalistic design with a focus on practicality.

Jio Apps And UPI: The major highlight of both the phones is that they come with Jio apps and services pre-installed that include JioTV, JioCinema, JioPay for UPI payments, in-built sound box features and more.

Battery Life And Storage Capacity: The JioBharat V3 and V4 feature phones are powered by a 1000mAh battery and support expandable storage of up to 128GB. The company also stated that the phones support up to 23 Indian languages for wider accessibility.

Solar panel maker Waaree Energies is gearing up to float its initial share sale on October 21 involving a fresh issue of shares worth Rs 3,600 crore.

The Mumbai-based company’s Initial Public Offering (IPO) will conclude on October 23 and the bidding for anchor investors will open for a day on October 18, according to the Red Herring Prospectus (RHP).

As per the documents, the IPO is a combination of a fresh issue of equity shares aggregating to Rs 3,600 crore and an Offer For Sale (OFS) of 48 lakh equity shares by a promoter and existing shareholders, according to the Draft Red Herring Prospectus (DRHP).

Those selling shares in the OFS are — promoter Waaree Sustainable Finance Private Ltd and shareholder Chandurkar Investments Private Ltd.

Proceeds from the fresh issue will be used for setting up the 6GW (gigawatt) of Ingot Wafer, Solar Cell and Solar PV module manufacturing facility in Odisha. Besides, a portion will be used for general corporate purposes.

Waaree Energies, one of the major players in the solar energy industry in India, is focused on PV module manufacturing with an aggregate installed capacity of 12 GW as of June 30, 2023.

It operates five manufacturing facilities with one factory each, located at Surat, Tumb, Nandigram and Chikhli in Gujarat, and the IndoSolar Facility, in Noida, Uttar Pradesh.

Earlier, the company had filed preliminary papers with Sebi in September 2021, for floating an IPO but deferred the maiden public issue. The issue comprised a fresh issue of equity shares aggregating to Rs 1,350 crore and an OFS of 40,07,500 equity shares by existing shareholders and promoters.

Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India) Private Ltd, SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book-running lead managers to the issue.

(This story has not been edited by digihunt staff and is published from a syndicated news agency feed – PTI)

Aviation regulator DGCA on Tuesday said it has removed SpiceJet from enhanced surveillance regime in the wake of the airline taking actions to rectify deficiencies as well as raising funds to meet obligations.

On September 13, the Directorate General of Civil Aviation (DGCA) placed the budget carrier under the enhanced surveillance regime following financial constraints that could impact the airline’s mandatory obligations related to aircraft maintenance.

A total of 266 spot checks have been carried out by DGCA across various locations as part of the enhanced surveillance mechanism, the watchdog said in a release.

According to the regulator, it has been ensured that deficiencies found during the spot checks have been subject to suitable rectification actions by the airline.

“In light of the same and the financial infusion of additional funds into the company, Spicejet has been taken off the enhanced surveillance regime,” the regulator said.

DGCA also said that random spot checks across the operational fleet to ensure continuing safety of operations.

Last month, crisis-hit SpiceJet raised Rs 3,000 crore from institutional investors and since then, it has cleared various dues, paid pending salaries to staff and reached settlements with some of the aircraft lessors.

Shares of SpiceJet were trading with gains over 1.66 per cent to Rs 66.80 apiece in afternoon trade on the BSE.

(This story has not been edited by digihunt staff and is published from a syndicated news agency feed – PTI)

While Aadhaar information, including name, date of birth, mobile number, and address, can be updated, the Unique Identification Authority of India (UIDAI) has set specific limits on how frequently these changes can be made.

The Aadhaar card, a 12-digit unique identification number issued by the government, serves various purposes such as opening bank accounts, applying for passports, or obtaining driving licences.

Aadhaar Name Changes:

You can update your name on Aadhaar twice. In exceptional cases, further changes may be allowed by the regional UIDAI office upon special request.

Users can request name corrections for minor changes, such as spelling corrections (if phonetically the same), rearranging the name sequence, changing a short form to a full form, or name changes after marriage.

At present, certain updates, including name changes, must be done offline. To update your name, you need to visit an Aadhaar Seva Kendra, fill out the correction form, provide original identity proof, and pay Rs 50.

Online Updates:

Currently, you can modify your address, proof of identity (POI), and proof of address (POA) documents via the UIDAI website.

Details like name, date of birth, gender, biometric data (fingerprints, iris scan), mobile number, and email ID require a visit to an Aadhaar Seva Kendra or Enrollment Centre.

How To Change Name On Aadhaar Card Step-by-Step Process?

Currently, you cannot update the name online.

Here is the step-by-step process to change your name on Aadhaar card:

• Download the Aadhaar Enrolment and Update Form from the official website of UIDAI.
• Go to your nearby Aadhaar enrolment centre/Aadhaar Seva Kendra.
• Fill in the necessary details and provide this form to the operator at the enrolment centre.
• Submit the original Proof of Identity document to the operator. They will take a xerox of it and give it back to you.
• Now submit a fee of Rs 50 for updating your name on your Aadhaar.
• You will receive an acknowledgement slip containing an updated URN (Update Request Number).
• By using this URN, you can check your UIDAI Aadhaar update status.

Details like mobile number, email ID, and biometric data can only be updated by visiting an Aadhaar Enrollment Centre.

Aadhaar Card Name Change After Marriage

UIDAI allows you to update your last name on your Aadhaar card at the nearest Aadhaar Seva Kendra.

The Center and state governments are running many schemes for women’s empowerment. The Maharashtra government has started the Ladki Bahin Yojana for women in the state this year. Under this scheme, financial assistance of Rs 15,000 is provided to women in Maharashtra every month. The state government has announced a Diwali Bonus 2024 under the Ladki Bahin Yojana. According to the notification issued by the state government, the payment of the fourth and fifth instalments of Rs 3,000 will be transferred to the bank accounts of eligible women as Ladki Bahin Yojana Diwali Bonus 2024.

Ladli Behna Yojana is also being run in Madhya Pradesh, in which women are given Rs 1200 per month.

Around 94,000 women in Maharashtra are getting the benefit of this scheme. The government’s objective behind giving Diwali bonuses is to enable women to shop before Diwali. The eligible women will receive Rs 3,000.

Eligibility

Diwali bonus will be given to all those eligible women who are registered under the Ladki Bahin Yojna scheme. Let us know what are the rules and conditions related to the eligibility of this scheme.

To avail of the benefit of the Ladki Bahin Yojana, the woman must be a resident of Maharashtra.

The age of the woman should be between 21 years to 65 years.

Married, unmarried and divorced women can avail the benefit of this scheme.

The primary condition for eligibility under this scheme is the family income. The beneficiary woman’s family income should not exceed Rs 2.5 lakh.

The Deputy Chief Minister of Maharashtra state Mr Ajit Pawar has increased the age limit of the Ladki Bahin Yojana. Previously, all the female citizens of Maharashtra state, who are between the age group of 21 to 60 years were eligible for the scheme. Now the maximum limit has been increased to 65 years. The eligibility criteria regarding the agricultural land have been removed by the Maharashtra state authorities.

Documents Required

To apply for Ladki Bahin Yojana, the beneficiary woman needs an Aadhar card, bank account, caste certificate, residence certificate, birth certificate, ration card, passport-size photo and income certificate.

Indian benchmark equity indices opened higher on Tuesday, tracking overnight gains on Wall Street, where the S&P 500 and Dow Jones closed at record highs.

At opening bell, the BSE Sensex was up 294 points, or 0.36 per cent, at 82,267, while the Nifty 50 was at 25,203, up 75 points, or 0.3 per cent.

Global Cues

Meanwhile, markets in the Asia-Pacific region were mixed on Tuesday with China leading loses.

The Shanghai Composite was down 0.55 per cent and the CSI 300 was down 0.55 per cent. Similarly, Hong Kong’s Hang Seng index was down 0.29 per cent, even as Chinese media outlet Caixin Global reported that China may raise an additional $846.5 billion through treasury bonds over three years to help its economy find firmer ground.

That apart, investors in the region assessed trade data out of South Korea, which showed a trade surplus of $6.7 billion in September, up from $3.7 billion in the previous month.

South Korea’s Kospi was 0.08 per cent higher, while Australia’s S&P/ASX 200 rose 0.75 per cent.

Japan’s Nikkei 225 gained 1.1 per cent, while the broad-based Topix rose 0.8 per cent.

On Monday, US stocks ended higher with a boost from technology shares amid light Columbus Day trading on Monday, while crude prices dipped as investors parsed signs of economic softness in China and girded themselves for a string of high-profile corporate earnings.

The S&P 500 and blue-chip Dow both nabbed fresh record closing highs.

Hyundai IPO Launch Date in India: Hyundai Motor India Ltd (HMIL), the Indian subsidiary of South Korean automaker Hyundai, is launching its much-anticipated initial public offering (IPO) for public subscription starting today.

The Rs 27,870.2 crore IPO is a complete offer-for-sale (OFS) where Hyundai’s South Korean parent company will divest a portion of its stake. The offer will close on October 17.

IPO Timeline and Details

• Public Subscription Period: October 15 – October 17
• Anchor Investor Bids: October 14
• Share Allotment: October 18
• Listing on BSE and NSE: October 22
• This IPO is India’s largest, surpassing the previous record set by LIC’s Rs 21,000-crore IPO.

Price Band and Lot Size

The price band for the IPO is set between Rs 1,865 and Rs 1,960 per share. Investors can bid for a minimum of 7 equity shares, with additional bids to be made in multiples of 7 shares.

Hyundai IPO GMP

As per market observers, Hyundai Motor India’s unlisted shares are trading at a Rs 65 premium in the grey market, indicating an expected 3.32% listing gain. It’s important to note that the GMP fluctuates based on market sentiment.

Analyst Recommendations

The Hyundai Motor India IPO is a landmark event for the Indian auto industry, being the first automaker’s IPO in over two decades, following Maruti Suzuki’s listing in 2003. Most brokerages have recommended a ‘buy,’ reflecting optimism around this offering.

Giving a ‘Buy’ recommendation, Bajaj Broking in its IPO note said, “For the last three fiscals, the company has reported an average EPS (earning per share) of Rs 62.56, and an average RoNW (return on net worth) of 39.11 per cent. The issue is priced at a P/BV (price-to-book value) of 13.11 based on its NAV (net asset value) of Rs 149.52 as of June 30, 2024, as well as post-IPO equity capital since this is a secondary issue.”

Another brokerage Master Capital Services in its IPO note said, “Hyundai’s IPO offers potential value growth by expanding investment prospects in the underdeveloped Indian auto market.”

Another brokerage LKP Securities also recommended a ‘subscribe for long term’.

However, since the PV industry is slightly in a slow lane currently, this may augur well for the company, as HMI is expanding its capacity by 30 per cent in the next 2 to 3 years. With new model launches (4 in mid-term, including the new Creta EV), HMI should give a strong fight to its rivals. At the upper end of the price band, on FY 24 earnings, the stock should trade at 26x times which is a fair value as compared to its closest peer Maruti Suzuki (29x FY 24 earnings).

“Therefore, on all favourable parameters, we assign a SUBSCRIBE rating on the stock. We recommend investing in this stock over the long term for higher returns,” LKP said.

Disclaimer: The views and investment tips by experts in this digihunt.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.

Reliance Industries Ltd reported its results for the quarter ended September 2024 on Monday, October 14. Reliance Retail reported a fall in revenue at ₹76,325 crore, down from ₹77,163 crore in the year-ago period. A CNBC-TV18 poll had estimated an 8% increase in revenue at ₹83,250 crore. The retail business of the Reliance group had reported a revenue of ₹77,630 crore in the previous quarter.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at ₹5,861 crore, a 0.5% jump from the year-ago period. The EBITDA was in-line with the estimated ₹5,860 crore. In the previous quarter, the EBITDA came at ₹5,672 crore. EBITDA margin came at 7.7% for the September quarter.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “The retail business continues to partner with renowned domestic as well as global players, expanding its basket of quality product offerings. The focus on strengthening our Retail operations will help us rapidly scale-up this business in the coming quarters and years and sustain our industry-leading growth momentum.”

The conglomerate’s retail arm recorded footfalls of 297 million, up 14.2% from the year-ago period. The company stated that the digital and new commerce channels contributed 17% of the total revenue. RRVL’s registered customer base grew to 327 million by the end of September 2024.

Reliance Retail expanded to 18,946 outlets spread across 79.4 million sq ft across the country by the end of the three months. The total transactions went up 8.9% as compared to the corresponding period a year ago to 343 million. Reliance’s network of consumer electronics stores crossed 650 outlets. The Digital India campaign boosted revenues by 60% year-on-year offering a wide product selection and attractive consumer deals.

Fashion and lifestyle categories witnessed an uptick during the quarter. The company leveraged regional festivals like Onam, Ganesh Chaturthi, and Pujo to enhance customer engagement and boost transactions. Reliance launched several new retail formats, including the youth-focused fashion brand Yousta, which crossed 50 stores in its first year of operation.

The e-commerce platform AJIO expanded its product catalogue by 25% and gained over 1.8 million new customers, including collaborations with brands like H&M, Timberland, and ASOS.

Reliance’s premium retail segment also witnessed growth, with Ajio Luxe increasing its product range by 28%. Reliance launched India’s first Armani Café, while Hamleys continued its international expansion. The jewellery business performed well aided by higher average bill values and the launch of nine new collections.

The grocery segment delivered another quarter of steady growth, with Smart Bazaar and Smart stores aiding business. Promotional events like the Full Paisa Vasool Sale and Independence Day sales drove significant traffic, according to the company. The confectioneries and snacks segment grew by 30% year-on-year, fruits by 26%, and apparel by 49%. The Metro format, part of the company’s New Commerce strategy, strengthened its engagement with traders and HoReCa (Hotels, Restaurants, and Cafés) segments.

JioMart’s non-grocery categories posted growth, with the average order value doubling from the preceding year. The seller base, on the other hand, expanded by 46%, and the product catalogue grew by 13%. Reliance’s consumer brands division reported a 250% year-on-year increase in revenue from general trade. New products and markets across various categories contributed to this growth.