This week in Auto: Festive season brings some cheer to two-wheeler majors, but is it time yet to celebrate?

Here’s a look at what else made headline during the week

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Amazon tells India regulator its partner Future Retail is misleading public

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries Ltd for $3.4 billion. The deal, Amazon alleges, breaches 2019 agreements by Future.

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Small midcaps underperform; 55 stocks in BSE 500 rose 10-70% in October

Although we gave up some of the gains in the latter half of the month, the indices are still trading above its crucial support of 11550-11600 and hence, the trend has not been distorted yet.

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SBI net banking service: How to register on SBI online banking at onlinesbi.com

Wondering how to register on SBI online banking service? Check out these easy registration steps

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Dynamatic inks pact with CSIR-CSIO for joint development of futuristic solutions

"Our partnership with CSIO is aligned to Government of India#39;#39;s vision of #AatmaNirbharBharat. Symbiotic relationships between private sector and government research labs will go a long way in our endeavour to build a self-reliant India", a Dynamatic statement said.

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Lessons from lockdown: Smartphone replaces books for Indian school children

Academic continuity during school closure has meant that students have to rely on online lessons to stay tuned to the classroom. But, does everyone have access?

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Heads up! FIIs have more shorts in index futures ahead of US elections: Ruchit Jain

The rollover in Nifty is slightly higher than its 3-month average. However, FII’s have more shorts in the index futures segment at the start of the new series.

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The definitive guide to luxury festive gifting

Dior’s jewels to Bally bags, luxury spirits to handmade accoutrements, our indulgence list is sumptuous and a harbinger of cheer after months of austerity.

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Future of fashion weeks: Digital and on-ground experiences collide in disruptive, democratic ways

The first fashion week to go digital was the Shanghai Fashion Week, which pioneered digital pivots such as live streaming. Hosted in March, it is considered a model for how digital experiences will remain at the fulcrum of fashion weeks in 2020. The event’s streams reached over 11 million views and generated over RMB 20 million in gross merchandise volume.

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Lottery Sambad Result October 31: #39;Dear Bangasree Damodar#39; lottery winners to be announced today at 4 pm

Lottery Sambad Result: The first prize winner of the #39;Dear Bangasree Damodar#39; lottery will win Rs 50 lakh.

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Centre may put voluntary pension schemes for small traders, unorganised workers under EPFO control: Report

The move comes as both schemes have so far failed to generate widespread interest from target groups, years into their launch

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Crude palm oil futures dip 0.18% to Rs 818.50 per 10 kg on profit booking

In the futures market, Crude Palm Oil (CPO) for November delivery touched an intraday high of Rs 827.60 and an intraday low of Rs 817 per 10 kg on MCX.

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Inside Nexus Venture Partners: How a top VC firm got its mojo back

The past few years have been a rollercoaster for Nexus, but it has bounced back from earlier setbacks to put its weight behind a bunch of promising startups

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Natural gas futures marginally up 0.20% to Rs 247.10 per mmBtu

In the futures market, natural gas for November delivery touched an intraday high of Rs 249.60 and an intraday low of Rs 246.30 per mmBtu on MCX.

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India to offer production-linked incentives to more sectors: Official

The Cabinet will soon consider approving such incentives for more sectors, Rajiv Kumar, vice chairman of NITI Aayog, a government think-tank told a virtual conference.

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Kerala lottery result declared: Nirmal NR-196 lottery winners announced today at keralalotteryresult.net

Kerala lottery result on October 30: The first prize winner of #39;Nirmal NR-196#39; is ticket number ND-638915, which bagged a whopping Rs 70 lakh.

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Twitter warns US election could affect ad sales, shares drop 16%

The San Francisco-based social media company said it expected expenses to increase by close to 20 percent in the fourth quarter compared with a year ago due to an increase in investments.

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Coronavirus Impact | The mystery of how many mothers left work because of school closings

The pandemic has been a continuing nightmare for parents and this has been particularly true for mothers. But figuring out how many mothers have been pushed out of the labor force specifically because of school closings can be tricky

from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-impact-|-the-mysteryhow-many-mothers-left-work-becauseschool-closings_14433141.html

Julius Baer considering JV in China to boost Asia growth: Report

Julius Baer will likely take a decision on its Chinese partner in 2021, before starting the formal license application process

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PM Modi assures revival on track; analysts suggest these sectors for wealth creation

“Our thematic approach has seen consistent results and we continue to believe in our structural themes of IT, digital, pharmaceuticals, consumer staples, rural, chemicals, and automobiles,” Neeraj Chadawar, Quantitative Equity Research at Axis Securities

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Biocon#39;s partner Equillium gets USFDA nod to begin phase-3 trial of itolizumab on COVID-19 patients

The Phase 3 trial called as EQUINOX will enroll a total of 800 patients at sites in the United States and abroad and include interim assessments at 20 percent and 50 percent of enrollment.

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Aviation insurance losses touch an all-time high as claims hit Rs 3,700 crore

According to sources, 2014-2020 has been the worst six years for the aviation insurance segment. The recent Air India Express crash in Kerala resulted in an insurance loss of $89 million, one of the highest claims in the industry. As claims increase, insurers will increase premium rates.

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Apple registers record September quarter in India even as iPhone sales slump globally

The company credited launch of Apple online store in India, which went live on September 23, for boosting sales in the country.

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November series outlook: Despite corrections in the last few days, longs remain intact in Nifty

The Nifty has to cross and hold above 11750-11777 zones to get the bull’s grip for a bounce towards 12020 then 12200 zones ahead of the festive season.

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Apple registers strong sales, CEO Tim Cook says record September quarter in India, other markets helped revenues

The company credited launch of Apple online store in India, which went live on September 23, for boosting sales in the country.

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Onion stock limit | Centre says states may give traders three-day buffer

Onion traders, on their part, said the move would not benefit them and demanded at least 15 days to meet the Centre’s limit.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/onion-stock-limit-|-centre-says-states-may-give-traders-three-day-buffer_14432421.html

Should investors look at MM Finance to ride the rural recovery?

At 1x FY22e adjusted book without the value of the subsidiaries, MM Finance offers downside protection

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Paytm aims for 100% growth in Fastags over the next 3 months

Paytm Payments Bank is doubling down on its Fastag business, with the ease of ensuring transactions through the wallet, the bank wants to capture a massive chunk of toll payments flowing through the banking channels

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Kerala lottery result: Nirmal NR-196 lottery winners to be announced today at 3 pm

Kerala lottery result on October 30: The first prize winner of the #39;Nirmal NR-196#39; lottery will get Rs 70 lakh.

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Mahindra Electric Mobility gets offers for stake buy in company

A few suitors are believed to have gone through the due diligence process. MM holds nearly 100% stake in Mahindra Electric, one of India’s largest electric vehicle makers. MM hopes that investors will help it achieve the goal of securing $100 million for product development.

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Possible movers & shakers of today's market

Tune in! Your daily digest of market news, views and cues.

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Trade Spotlight: LT, Tata Motors Federal Bank in focus

LT fell by about 5 percent, Tata Motors was down by over 2 percent, and Federal Bank dropped more than 2 percent on October 29.

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Shapoorji Pallonji Group seeks shares in all Tata companies as settlement

Shapoorji Pallonji Group has as such demanded non-cash settlement in form of shares in all listed Tata entities where Tata Sons owns stake

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COVID-19 hits India#39;s gold-buying sentiment; Q3 demand drops by 30%: World Gold Council

The overall demand stood at 123.9 tonnes during the third quarter of 2019, according to WGC#39;s Q3 Gold Demand Trends report.

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Hero to keep expanding tie-up with Harley, dealers to sell American superbikes

A senior Hero MotoCorp official has confirmed that the partnership will keep ‘expanding and extending’ in future.

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Hero to keep expanding tie-up with Harley, dealers to sell American super bikes

A senior Hero MotoCorp official has confirmed that the partnership will keep ‘expanding and extending’ in future.

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Moneycontrol Pro Subscription—exclusive partnership with InterMiles

Subscribe to Moneycontrol Pro at Rs 365 and earn a bonus of 365 InterMiles Free!

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Havells Q2 net profit up 82% YoY to Rs 326.4 crore

Among the business segments, Lloyd saw a 56 percent YoY growth in revenue to Rs 280 in Q2 FY21

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To do politics or not do politics? Tech startups are divided

Silicon Valley tech workers have long been regarded as liberal but not politically overactive. Now many startup workers, who have been sold on a mission of changing the world, expect their employers to support their social and political causes

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SEBI considering strengthening settlement norms

Captial markets regulator wants to ensure that accounts of all clients be made nil once in 30 or 90 days in the books of the stockbrokers, depending upon the preference of clients. It has already sought the feedback from various stakeholders.

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SC transfers all pleas against lenders invoking personal guarantees by promoters to itself

It has also directed that High Courts will not entertain any new petitions in this regard

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Explained: For the first time in its 98-year history, a Delhi University VC is suspended. What were Yogesh Tyagi’s faults?

For the first time in Delhi University’s 98-year history, a Vice Chancellor has been suspended. Yogesh Tyagi was suspended on October 28 on the orders of President Ram Nath Kovind.rnThis move assumes significance because the education ministry has brought into the open the brewing discontent between the ministry and the VC on the vacant faculty positions. Also, it wasn#39;t happy with the way Tyagi handled the 2019 teachers’ protest over reappointments, where the government had to intervene to resolve the issue.rnHis tenure was to end in March 2021.rnIn an order on October 28, the education ministry said that Tyagi, who was appointed in March 2016 as Vice Chancellor of University of Delhi, failed to discharge the duties and responsibilities entrusted to him.rnMoneycontrol brings you the details of what exactly went wrong during his tenure that led to his suspension:rnMultiple positions vacantrnAs per the Delhi University Act, it is the responsibility of the VC to ensure that all the key positions at the administration level are filled.rnHowever, the education ministry said that Tyagi did not fill statutory posts despite regular follow-ups. One such position is that of the Pro Vice Chancellor, who assists the VC in all academic and administrative matters. During the absence of the VC, the pro VC performs the functions of the VC. rnHowever, the post of Pro VC has been lying vacant since June 2016, until professor PC Joshi was appointed in June 2020. This was after great pursuance, said the education ministry.rnPC Joshi will now function as VC.rnSimilarly, the Registrar’s post was vacant between March to October 2020. The posts of finance officer and treasurer are vacant since March 2020. The Controller of Examination’s post is also vacant for the last six years.rnThe Registrar is responsible for creating the academic schedules and also help create tools for academic progress. In his/her absence, teachers have to individually make the plans for each lecture. Similarly, the finance officer/treasurer is responsible for handling the funds available and looks after adequate distribution to all departments of the university. rnThe Controller of Examination is responsible for conducting exams and declaring results on time. This post being vacant puts the additional responsibility of conducting exams on the professors. rnSources said that there were constant disagreements between Tyagi and the executive council on who should be appointed and also questions were raised on the credibility of candidates suggested by him.rnThe education ministry said that the inordinate delay in appointment of permanent principals in many colleges is also an issue of grave concern.rnAd-hoc arrangements in key postsrnThe education ministry was also miffed with the fact that instead of filling up the posts, Tyagi had made ad-hoc or temporary arrangements for posts like Dean of Colleges (handling 90 institutes) and Director, South Campus (handling over 20 colleges).rnThe education ministry said that the Delhi HC also had a three-member committee for expeditious filling up of posts. Though timelines were drawn up by the University, only a few posts were filled up on a regular basis.rnAlso, the Parliamentary Committee on welfare of SC/ST, in its meeting on October 10, 2020, expressed displeasure over non-filing of a large number of backlog vacancies in the SC/ST category.rnThe ministry said that despite many meetings, no substantial progress has been made by the VC on the above issues.rnPending complaintsrnThe education ministry order also pointed out that certain vigilance complaints and sexual harassment cases in the University are pending for more than two years in violation of the provisions of law. This, according to the ministry, shows insensitivity on the part of the VC in disposing such matters.rnA similar delay in resolving teachers’ grievances led to an agitation across colleges. The order said that the administrative negligence of Tyagi came to the fore in handling the matter of ad-hoc teachers, resulting in a huge agitation of the teachers’ fraternity. This led to the loss of teaching and learning days.rnMaking parallel appointmentsrnYogesh Tyagi was admitted to AIIMS, Delhi, for surgery in July 2020. The government said that he neither sought leave nor informed the Executive Council about his absence. The education ministry has also alleged that he hasn’t attended crucial meetings including those held for the implementation of National Education Policy in September.rnFurther, when the executive council was to meet on October 10, Tyagi informed that the proposal for appointments be postponed for 10 days. Thereafter, the meeting was fixed for October 21. Education ministry officials said that he wanted to postpone this meeting once again but faced opposition.rnJust before the executive meeting on October 21, Tyagi appointed PC Jha as Interim Registrar while remaining in absence.rnOfficials allege that Jha tried to disrupt the ongoing Executive Council meeting. However, this was not allowed, as the Executive Council resolved that professor Suman Kundu would continue as Director, South Delhi campus, and Acting Registrar till permanent/ duly appointed registrar joins.rnSubsequently, Tyagi remaining in absence made other appointments, including that of Geeta Bhatt as Pro-Vice Chancellor. The education ministry has said that Tyagi tried to hamper the smooth conduct of Executive Council Meeting and Selection Committee meetings by making parallel appointments.rn“The Vice Chancellor is not administering the university in accordance with the provisions of the said Act, Statutes, ordinance of University of Delhi, which has caused misgovernance and malfunctioning of University of Delhi. This is not conducive for appropriate academic as well as administrative environment of the University,” said the education ministry order.rnThe ministry said that all orders issued by Tyagi during the period of his absence on medical ground after July 17 are set aside and to be treated as null and void.rnTyagi has been put under suspension with immediate effect until further orders. The education ministry said that this is because he may influence/coerce the witnesses and tamper with the material records of the university.rnWhat next?rnThe ministry will conduct a detailed enquiry into the activities of the VC. Post this, a report will be presented and any further action against Tyagi will be taken based on the recommendations.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/explained-forfirst-timeits-98-year-historydelhi-university-vc-issuspended-what-were-yogesh-tyagi’s-faults_14427641.html

IKEA parent looking to bring ‘Ingka Centres’ to India

The move is a way to enter various cities in India through an “omni-channel strategy” consisting of large and small format IKEA stores and online services.

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Shiv Nadar Foundation sets up Shiv Nadar University in Chennai

The academic session for Shiv Nadar University will begin in August 2021. The university begins its programmes with the School of Engineering School of Commerce and Management.

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Looking at re-pricing of protection products, says SBI Life’s Mahesh Kumar Sharma

Prices will be competitive and should come in this quarter, Mahesh Kumar Sharma - CEO MD of SBI Life said.

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Orient Electric Q2 net up six-fold to Rs 32.42 crore

The CK Birla group firm had posted a net profit of Rs 4.92 crore in the corresponding period of the previous financial year, Orient Electric said in a regulatory filing.

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HAL inks Rs 400-crore pact with Tech Mahindra for project Parivartan

HAL said Tech Mahindra will be responsible for the transformation and modernisation of the ERP system as an implementation and support partner enabling HAL to streamline and standardise its business processes across the organisation.

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LT in talks with SBI, Telangana government to bail out cash-strapped Hyderabad metro rail project

The Telangana government, however, has its own fiscal challenges due to the loss of tax revenue on account of Covid-19, a high debt burden and the recent floods that devastated capital city Hyderabad and its adjoining districts

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Market is not expensive from a 3-year viewpoint, says Neelesh Surana of Mirae Asset MFÂ

Valuations are reasonable and there are buying opportunities in banking, OMC, PSU, and telecom stocks, says CIO of Mirae Asset MF

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TCS to divide cloud services into 5 strategic units

The goal is to achieve scale and exponential growth in each platform, according to Krishnan Ramanujam, the president of business and technology services at TCS.

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Govt releasing one lakh tonne of onion buffer stock: Agriculture Minister Narendra Singh Tomar

"The government has already taken cognisance of the issue of rising prices of onions and its one lakh tonnes of buffer stock is being released through NAFED,” Narendra Singh Tomar said.

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