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The “watch duty time limitations and rest requirements” set forth by the DGCA on January 11 for controllers state that an air traffic controller's shift cannot last longer than 12 hours (Representative Image) The Directorate General of Civil Aviation ( DGCA ) rejected the Airports Authority of India ( AAI ) proposal to provide relaxation for airports with fewer flights in order to enable it to overcome a manpower shortage and instead issued new rules for the duty hours of air traffic controllers, as per a report in The Hindu . Although a version of these rules was initially announced in November 2020, the AAI found it challenging to comply with them because it required more staff to offer the required rest period. Since then, it has requested exemptions five times and suggested various duty hours for four distinct types of airports based on the volume of air traffic they handle: large airports, or those with more than 400 flights per day, as well as airports with up to … [Read more...] about DGCA sets new rules for duty timings of air traffic control employees

Gaurav Kapoor, a New Delhi-based stand-up comedian, has over a million subscribers on YouTube. His channel is full of daily vlogs and occasional stand-up videos. Kapoor is usually the one cracking one-liners. But when it comes to promoting Mamaearth’s products, he becomes the butt of jokes. Kapoor and other influencers have promoted Mamaearth products extensively since the company was incorporated in 2016. For the average YouTube viewer, the sheer number of ads of the then-fledgling brand would easily have got on one’s nerves. Mamaearth is the flagship brand of Honasa Consumer, a beauty and personal care company that plans to come out with an initial public offering. The company filed its draft IPO papers on December 30. Also Read: Mamaearth parent files IPO papers; Sofina, Stellaris, Kunal Bahl, Shilpa Shetty to sell stake Read More The amount spent on advertising and influencer marketing stands out in the company’s draft red herring prospectus. As of … [Read more...] about P/E of 1,000? Investors cautious over huge valuation of Mamaearth IPO

In its yield offering, Flint promised users a fixed return on their deposits of Ethereum, Bitcoin or several of its listed options. Decentralised Finance (DeFi) startup Flint, which is backed by investors like Sequoia Capital and Coinbase, has decided to discontinue its flagship yield offering service amid regulatory uncertainty, YourStory reported on January 27 citing an internal mail. "Today we are announcing the regrettable but necessary decision that Flint will be phasing out its services due to regulatory clarity around crypto deposit-taking companies like ours," the company said in the email to users, the report stated. The development comes after the DeFi startup had in November last year informed that it has "moved out" its funds from crypto exchange FTX, which recently became bankrupt. The saga that shook the crypto world last year began with FTX filing for US bankruptcy court protection from creditors and founder Sam Bankman-Fried resigning as chief executive … [Read more...] about Sequoia-backed DeFi app Flint discontinues flagship yield service: Report

On January 9, 55 passengers who were bound for New Delhi from Bengaluru on a 0630 IST GoFirst flight G8 116 were left behind in a bus. (Representative image.) The Directorate General of Civil Aviation (DGCA) on January 27 imposed a Rs 10 lakh fine on Wadia-Group-owned airline GoFirst (formerly known as GoAir) for failure to ensure adequate arrangements for ground handling for the flight. "The airline failed to ensure adequate arrangement for ground handling, preparation of load and trim sheet, flight dispatch and passenger/cargo handling," the aviation regulator said in a notice. On January 9, 55 passengers who were bound for New Delhi from Bengaluru on a 0630 IST GoFirst flight G8 116 were left behind in a bus. The stranded passengers were later accommodated on another flight a few hours later. The DGCA on January 10 sent a show cause notice to the carrier, highlighting "multiple mistakes" that could be easily avoided. Following the incident, GoFirst announced that the … [Read more...] about DGCA imposes Rs 10 lakh penalty on Go First

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Syngene International Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma/chemical companies offering integrated scientific services from early discovery to commercial supply. Syngene serves these players, which outsources some or substantial part of its business in the product development life cycle and operates via full time equipment (FTE) and fee for services (FFS) models • Discovery services: FTE engagements with high renewability; dedicated services: long-term strategic alliances that last usually five years or more, Development and manufacturing: FFS engagements, which increase in volume/scale over time. Outlook Downgrade from BUY to HOLD as the stock fully reflects strong … [Read more...] about Hold Syngene International; target of Rs 610: ICICI Direct

DLF Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. "We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs 7,500 crore," he said. "Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. Read More DLF's sales bookings … [Read more...] about DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram

Honasa Consumer, parent of Mamaearth, is looking to raise Rs 400 crore through a fresh issue of shares, apart from an offer for sale of around 4.7 crore shares. “Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community”. That was Mamaearth co-founder Ghazal Alagh’s response after the company faced #FinTwit’s ire for demanding a ‘sky-high, disastrous’ valuation for its public offering. Keeping Alagh’s comment aside, it is certain that Bollywood actor Shilpa Shetty will be laughing all the way to the bank as her Rs 6.8 crore investment in the company will grow multi-fold. The question is by how much? Let’s assume that Mamaearth lists at Nykaa’s current market capitalisation-to-sales (or price-to-sales) valuation, given both are direct-to-consumer (D2C) companies in the beauty and personal care (BPC) space. Nykaa trades at 7.4 times P/S based on FY23 annualised sales. Honasa Consumer, parent of Mamaearth, … [Read more...] about Shilpa Shetty could make a killing from Mamaearth IPO. Here’s how

Fixed deposits (FDs) have invariably been a popular instrument for investors to diversify their portfolios. It is a low-risk investment option as the FD rates remain immune to market fluctuations till the deposit matures. With the surge in, the repo rate (a cumulative increase of 225 bps since August 2018), Bajaj Finance has also adjusted its fixed deposit (FD) interest rates once again by up to 40 bps. Risk-averse investors can now secure a maximum interest rate of 8.10% p.a. on their deposits, and thereby diversify their investment portfolio and earn a higher return simultaneously. A comparison of old and new interest rates for cumulative FD for is given below: Customers below 60 years of age Senior citizens Period (months) Old Interest Rates Revised Interest Rates Old Interest Rates Revised Interest Rates 12 - 23 months 7.05% p.a. 7.15% p.a. 7.30% p.a. 7.40% p.a. 15 months 7.20% p.a. 7.30% p.a. 7.45% p.a. 7.55% p.a. … [Read more...] about Bajaj Finance revises Fixed Deposit rates to up to 8.10% p.a.: Invest online

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Saregama India Saregama India (Saregama) is India’s oldest music label with ~1.42 lakh songs across various languages, which is monetised over various formats such as digitals (streaming, YouTube), physical (Carvaan) and television. Apart from music, it is also into TV serials /(Tamil), creates low budget films as well as web series for OTT platforms through Yoodlee Films and has artists and events management business. Outlook We expect digital monetisation to provide sustained growth momentum. Accelerated opportunity fructification in new areas like web series, artist management, etc, can provide further positive surprise. We maintain BUY. We value at Rs 430, 30x FY25 P/E. For all recommendations report, click here Read More … [Read more...] about Buy Saregama India; target of Rs 430: ICICI Direct

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on Maruti Suzuki MSIL reported a strong beat in 3QFY23, driven by better mix (8% beat on ASPs) and higher other income. Recently launched products to reflect in P&L from 1QFY24; commodity price benefit largely reflected in 3QFY23; and the impact of adverse JPY is expected to reflect from 1QFY24. We expect continued improvement in performance and response to new products to act as catalysts for the stock. Outlook We upgrade FY23 EPS estimates by 14% to reflect the benefit of mix and higher ‘other income’, but reiterate our FY24 estimates as the mix benefit is offset by the Fx impact. We reiterate our Buy rating with a TP of INR10,500. For all recommendations report, click here Read More Disclaimer: The views and investment tips … [Read more...] about Buy Maruti Suzuki; target of Rs 10,500: Motilal Oswal