• 2 months ago
- #Sensex, #Nifty close at record highs
- Report on death of EY employee expected in 10 days


Tune in to 'Profit 360' with Nupur Talwar Suri for top news of the day. #NDTVProfitLive

Transcript
00:00The JPMorgan India Summit speak to NDTV Prophet, CEO of APAC region Sridhar Lennart says that
00:06India is the pillar of their Asia growth strategy.
00:11During his three-day visit to the US, Prime Minister Modi meets top tech leaders including
00:17Google CEO Sundar Pichai, NVIDIA's Jens Nguyen and Adobe's Shantanu Narain at the CEO's roundtable.
00:27The investigation report on the death of an EY employee can be expected in 10 days, says
00:31the Labour Minister Mansukh Bhandavia.
00:33The FM Seetha Raman calls for stress management lessons at institutions.
00:40Comparing herself to Bharat taking the reign when Ram went to Vanvas in the Mahabharat,
00:47Aam Aadmi Party leader Atishi takes charge as Delhi's Chief Minister and left the chair
00:54empty next to her in the honour of Arvind Kejriwal.
00:59Sri Lanka's first leftist president was sworn in to office today.
01:04Anurag Kumar Adhisanayake of the People's Liberation Front after a landslide victory
01:09said that he had no magic solution to the hardships suffered from an economic crisis.
01:17Labata Ladies has been chosen as India's official entry for the 2025 Oscars in the
01:22Best Foreign Film category.
01:24The film's director, Kiran Rao, said that she hopes that the film will resonate with
01:29the rest of the world.
01:52We chugged along fairly healthily towards the 26k mark, half percent higher on the nifty
02:1350.
02:14Let's pull up the heat map, see which stocks really moved the market today.
02:18And you'll see two wheeler counters, both Bajaj and Hero stood out.
02:22But outside of that, M&M within the auto pack did well.
02:25In the auto pack, Ayesha Motors at the bottom of the pile on the nifty 50.
02:28So the auto pack really having dominated in terms of the gainers and losers.
02:33When you're looking at some of the other names which did well, SBI Life, HDFC Life, Life
02:37Insurers as well as SBI, two and a half percent higher for all those three, very, very strong
02:43day on all those three counters.
02:45You also had a Reliance chipping in, you had an HDFC Bank chipping in.
02:48Let's pull up the contributories and we'll see exactly that.
02:51Kotak Mahindra was up 1.7 percent as well and HDFC and ICICI, the top gainer and top
02:57loser in terms of contributories on the nifty 50.
03:00That's how it played out along with IT stocks.
03:03Let's pull up the heat map on the sectoral indices and we'll see that within the nifty
03:09bank, the nifty PSU Bank has really done well today, three and a half percent higher after
03:15the week it had last week.
03:16So clearly reversing some of that underperformance of last week, brushing it off and the nifty
03:22private bank not doing as well and therefore the nifty bank landing up in that sweet spot
03:27half a percent or so higher, which supported the index.
03:30Along with that, of course, Realty did well in the broader markets.
03:33You had nifty pharma also up around half a percent thereabouts.
03:37Let's pull up the broader markets, the nifty mid cap as well as the small cap indices.
03:41Both were up roughly 0.8 odd percent, so good day on the broader markets as well that
03:47we saw.
03:48Let's pull up the advance decline and thereafter the list of BSE 500 top gainers, top losers.
03:53There you go.
03:54That's the advance decline, how it shaped up pretty much through the day, healthy in
03:57terms of how the market shaped up and the BSE 500 gainers, losers.
04:01There you go.
04:02Some cigarette counters on that list, VST, Godfrey Phillips were big movers on the negative
04:08side of things, whereas Amber Enterprise is 15 percent higher on the back of that
04:13Jefferies not offering a 19 percent upside.
04:16All right, now, Vodafone Idea has thrown the ball in the government's court over AGR dues,
04:22which threatened to engulf its finances.
04:24Now, in an analyst con call, the company said that it is in talks with the government on
04:28AGR dues, which are joining in with the key takeaways from the con call.
04:35Now, the two most important takeaways that I found out is the conversion of equity into
04:39debt of rupees 170 billion.
04:42And number two is tariff hike of similar level after 15 months cycle is what the management
04:47is assuming in.
04:49So, these two points are most relevant assumptions of the management.
04:53Now, moving on to the AGR dues case, which has been the talk of the town, well, the company
04:58believes that now the talk is in the hands of the government and not the Supreme Court
05:03and hence the government, hence the company has initiated a fresh dialogue with the government
05:08and they are also in the process of putting a new request to the government for considering
05:13the AGR dues case.
05:15Now, talking about the tariff hikes, as I mentioned, they said that the industry will
05:19need further tariff hikes and they are factoring in a similar level of hike after 15 months.
05:25Now, talking about the cash flows, well, the cash flows generated by the business will
05:29be used towards the payment of government dues.
05:33The company has bank loans of about 48 billion and the vendor overdues are, you know, getting
05:38cleared.
05:39So, not much of a bid from vendor overdues, but on the debt, they also mentioned that
05:44starting FY27, the total payout will be 430 billion dollars annually.
05:49And out of that 170 billion rupees will be, my pardon, 430 billion rupees annually and
05:56out of that 170 billion rupees is the deferred series of installment which the management
06:01is expecting to be converted into equity and the balance will be the installment with which
06:06the company will pay out of the cash flow.
06:10Lastly, talking about 5G, well, it said that monetization of 5G is still not happening,
06:14but will be launching 5G in all the 17 priority circles.
06:18All right, Rucha, thank you very much for that.
06:20Now, Manba Finance's IPO was fully subscribed within an hour of opening for public subscription
06:25in the primary market.
06:26The IPO has been oversubscribed by over 18 times as of 3.15 in the afternoon.
06:31Now, it opened today and will conclude on the 25th of September.
06:35Net institutional investors drove the demand with retail investors coming in a close second.
06:41The NBFC is aiming to raise over 150 crores from the IPO.
06:47Moving on, the market regulator SEBI has published an updated study which shows that 93% of individual
06:53traders incurred losses in equity F&O between the FY22 and FY24.
06:59Now, aggregate losses exceeded 1.8 lakh crore rupees over three years and Charu is joining
07:05us with more details.
07:06Hi, Charu.
07:07Take us through the details that you are picking up on this.
07:10The big news point, of course, that's coming in seems to suggest that 93% of individual
07:15traders actually incurred losses.
07:17Yes.
07:18So, as for the market regulator's recent report, 9 out of 10 individual F&O traders faced losses
07:24and losses per trader is around rupees 2 lakh each and the top losers are the people who
07:28are getting the most amount of losses, around 3.5% of these traders averaged losses of about
07:33rupees 28 lakh.
07:35Another interesting point here is to know that only 1 out of 10 traders got profits
07:39of over rupees 1 lakh after the costs that are to be deducted.
07:43Another very interesting thing is that the young traders who are under the age group
07:47of 30 increased from 31% in 2023 to around 43% in 2024 and 75% of these young traders
07:56or traders in general saw that their annual income is only below rupees 5 lakh and another
08:03important factor here is that even after facing losses 75% of these traders continued with
08:09their trading practices.
08:10All right, Charu, thank you very much for joining us with those details.
08:14Moving on now, NDTV Profit has been giving you a comprehensive coverage of the J.P.Morgan
08:18annual summit.
08:19We spoke to a host of personalities across J.P.Morgan and here is what the CEO of J.P.Morgan's
08:24APEC region, George Lennart, had to say.
08:29To start with China, I think, obviously, there is a lot of sort of headlines on China, but
08:33we can't forget the journey they have been on.
08:36In 2000, they were 4% of global GDP, they made up about 14% of APEC's GDP.
08:43Today, they're 20% of the world's GDP and they're more than half of Asia's GDP.
08:47So they've had their growth spurt, but it's clear that when you are so big, to sustain
08:53that growth is difficult and also the drivers of China's growth will have to change.
08:59It was a lot about manufacturing and export, then about the sort of e-commerce industry
09:05and the question is what's going to be the next decade for China?
09:09What's going to drive its growth?
09:12So China, I think, will continue to be a big driver of absolute growth, but at a slower
09:17rate than before.
09:19All right, now according to a CLSA report, urban Indians are skipping the traditional
09:25retail and FMCG buys and are going all-in for experiences and travel.
09:30NDTV profits Mahima joins in with the details of the change in consumption trends.
09:36CLSA has come out with a very interesting note that tells us about how urban consumption
09:41trends are taking place and what they're saying is that Zomato is the best way to play this
09:45theme.
09:46Now we all saw that how Coldplay tickets got sold out in minutes and there was a queue
09:52of roughly one lakh people who were ahead for a ticket queue, which had a price band
09:59of roughly US dollar 50 to 400.
10:02Now in terms of Daljit's concert also, around 2,50,000 tickets were sold out and this was
10:09priced at roughly US dollar 90.
10:12So interesting things happening in that space.
10:14In fact, the same thing happened with Dua Lipa concert as well as Brian Adams concert
10:18as well.
10:19Now all of these four concerts combined saw ticket sales of over 3.5 billion to 4 billion
10:25rupees and this is over 40% of incremental quarterly sales for QSR.
10:31So what they're saying is that consumption of older consumer companies might be a misleading
10:35indicator when we try to track trends in the urban consumption space.
10:40Also what they've said is that events, traveling, eating out, luxury and premium goods, cosmetics,
10:46consumer appliances are emerging trends and are the areas that are preferred by today's
10:51youth and what they're also saying is that QSR is struggling but Zomato and Swiggy food
10:56delivery is clearly chugging along.
10:59Now if you see the gross order value for Zomato in the delivery business, which is a smaller
11:03part as compared to the delivery business, however it did see an uptick of 25% which
11:07is, you know, whereas QSRs have been showing growth trends in just single digits.
11:13In terms of Zomato's dine-out business also, it did see a significant uptick and this was
11:18more than double as compared to Q1 FY24.
11:22Now in terms of data points from, you know, companies like Naica, MakeMyTrip and Trend
11:27also suggest that consumption remains different from past where FMCG and QSRs were seen as
11:32bellwethers.
11:33Now in Q1 FY25, Naica saw beauty GMV growth of roughly 28%, MakeMyTrip saw 29% growth
11:41and Trend saw like-for-like growth of 22% which is much faster than growth of QSRs which
11:47is around 8%.
11:48So lastly what they're saying is that trends in terms of consumption when it comes to the
11:53urban population are very different and, you know, overall FMCG and QSRs cannot be
11:58the indicators for this and Zomato is very well placed to tap this increasing demand
12:03for consumer experiences and of course they have maintained the target price of 353 overall.
12:07All right, Mahima, very interesting points being made there.
12:11Thank you for joining us.
12:12Now on to an NDTV Profit Exclusive now and sources tell your channel that the government
12:16will likely form a selection panel for the new internship scheme soon and Srimi Chaudhuri
12:22is joining in with exclusive details of what this could entail.
12:26Yeah, so this MCA-led panel, the selection panel which is expected to be formed soon
12:33is going to shortlist the internship application based on the eligibility criteria.
12:38What we are also picking up from our sources is that they are going to look into each application
12:43and accordingly forward it to the respective companies.
12:47Remember, the budget has announced PM internship program to cater at least 10 million unemployed
12:54youth who are not from the elite institution like IIT and IIMs.
12:59This is MCA which is the nodal ministry who is going to put out the final guidelines by
13:06the October end, will specify the eligibility criteria and the number of vacancy and how
13:11many companies are going to sort of offer these internship program.
13:16All those details will be mentioned by MCA by the end of next month.
13:22What we are also picking up from our sources at that since it's a voluntary program, so
13:27the companies are not obliged to absorb each and every application which are coming from
13:31this panel.
13:32However, if you see the government data since they are going by the CSR spend, there are
13:38some top 10 companies including HDFC, TCS who are the top CSR spender and they may absorb
13:48these internship application and take those interns on board.
13:56All right, Shreemi, thank you for that.
13:59Now, the union labor ministry has sought information from state officials on the recent death of
14:04an EY employee.
14:06The labor minister Mansukh Mandavia is awaiting the report, expecting it in the next 7 to
14:1110 days.
14:12Now, after which appropriate government action is likely to be taken.
14:15While speaking about the tragic death of the former EY employee who apparently succumbed
14:19to work pressure, the finance minister Nirmala Sitharaman at an event in Chennai called out
14:24for colleagues and universities to provide stress management lessons to the students.
14:28She further emphasized that people can gain the strength to handle pressure by achieving
14:34divinity.
14:35While Prime Minister Narendra Modi attended a high-profile roundtable with top American
14:41technology CEOs focusing on innovation, collaboration and India's growing tech.
14:45Now, this roundtable was part of the PM Modi's three-day visit to the United States, Google
14:51CEO Sundar Pichai and NVIDIA CEO Jensen Huang who showed positive stance towards boosting
14:57India's tech sector.
15:01The Prime Minister has been focused on transforming India with his Digital India vision.
15:08He pushed us to continue making in India, designing in India.
15:13We are proud to now make our Pixel phones manufactured in India.
15:18He is really thinking about how AI can transform India in a way that benefits the people of
15:23India.
15:25He challenged us to think about applications in healthcare, education, agriculture and
15:33he is also thinking about the infrastructure of India, the data centers, power, energy
15:40and investing to make sure India can transition and we are proud to be partnering with India.
15:47We are robustly investing in AI in India.
15:50I have enjoyed so many meetings with the Prime Minister, he is such an incredible student
15:56and every time I see him, he wants to learn about technology, artificial intelligence,
16:01the potential and opportunity for India, the impact on India's society and industry and
16:07so I was delighted to be here to talk about it.
16:09India, as you know, is also home of some of the world's greatest computer scientists,
16:13so this is a great opportunity.
16:16Artificial intelligence is also a new industry, a new manufacturing industry that's very important
16:22and so I'm looking forward to partnering with India in a very deep way to make that possible.
16:27All right, now the Aam Aadmi Party leader, Aatishia Begayapadan officially took over
16:32as the 8th Chief Minister of Delhi.
16:35Aatishia placed an empty chair next to her in a symbolic gesture towards the party chief
16:40and former Chief Minister Arvind Kejriwal.
16:43She even compared herself to Bharat from Ramayana, who had ruled in Lord Ram's absence by placing
16:50his sandals on the throne.
16:51She stated that the chair will remain vacant for Arvind Kejriwal until the February 2025
16:57elections when Kejriwal will become Delhi's elected official again.
17:03Now, the digital payment fraud in India has jumped a staggering fivefold to Rs 1,457 crore
17:14in the financial year that ended in March 2024.
17:17Now, this is according to the RBI's annual report from three months ago.
17:21The alarming rise comes at the same time as India is rapidly becoming a digital payments
17:26powerhouse, something that has also created greater financial inclusion for millions across
17:31the country.
17:32Now, MasterCard has come up with a solution for greater safety, thanks to AI.
17:44MasterCard and PayU have announced a strategic collaboration to deploy Briterion AI solutions
17:50within PayU's payment business in India.
17:53The collaboration is aimed at cutting fraud losses, enriching customer experiences and
17:58attracting more merchants through artificial intelligence.
18:02The collaboration is significant in that it will enable real-time fraud risk assessment
18:06at both transaction and merchant levels for PayU.
18:10With the same goal of customer safety in mind, the global fintech fest saw the unveiling
18:15of MasterCard ID Theft Protection, which is aimed at providing proactive monitoring and
18:20resolution of identity theft threats from MasterCard cardholders.
18:24MasterCard Identity Theft Protection is a B2B2C monitoring solution for any data breach
18:30incidents on PII information.
18:32And what we do essentially is when we monitor the deep and the dark web, we are able to
18:36identify if there's any breach incident for an individual.
18:39And also what we do is we alert the individual and they are able to take a resolution also
18:43and mitigate the incident very timely so that they are safeguarding all their identities.
18:48So that's what the solution is all about.
18:50Well, did you know that there are more than 300 sign languages in use around the world.
18:57Sign language is not just a communication tool.
18:59It is also a complete language with its own grammar, syntax and cultural nuances.
19:04It is to raise precisely these kind of awareness around sign language that today the 23rd of
19:10September is celebrated as International Day of Sign Languages.
19:14Now as part of the Samarth by Hyundai initiative in partnership with NDTV, we take a look at
19:19how sign language opens up new worlds for those who cannot hear.
19:29This is a daily reality for Nandakishore, a condition that is mostly invisible.
19:38Deafness is a communication disability which lacks of people like Nandakishore live within
19:44our country.
19:45Being deaf and the resultant lack of communication can have a profound impact on every aspect
19:51of one's life.
19:53This was a struggle Nandakishore endured for years before reaching where he is now.
20:23Every year hundreds of students are trained here at the Noida Deaf Society enabling them
20:40to lead self-reliant lives just like Nandakishore.
20:43Learning sign language has opened up new worlds and possibilities for them.
20:48It only started with one single accessible point which is language.
20:53So there wasn't anything hugely different that we did.
20:59We just gave accessible language to our deaf children and through that learning and education.
21:06And through that education they have been able to expand their lives, open up their
21:11minds to holistic growth as human beings with the common language.
21:16They are able to get jobs.
21:19In addition to opening up access to fundamental needs such as education, health care and employment,
21:25teaching sign language to children early also leads to better cognitive skills, faster speech
21:31development, improved literacy and reading skills, self-confidence and improved mental health.
21:37The children have improved a lot.
21:39They are smart in reading and writing and they understand what we teach them.
21:44According to the World Health Organization, India has approximately 63 million people
21:50suffering from significant auditory impairment.
21:53The deaf community and advocates have been pushing for the Indian Sign Language or ISL
21:58to be recognized as the 23rd official language of the country.
22:03Huge!
22:04If it becomes the 23rd official language, can you imagine?
22:08From the families first, the social reform will take place.
22:12The shame towards Indian Sign Language from family members, that will go.
22:18Knowledge will be increased.
22:20Corporates will be higher because now it's official.
22:24Not only that, access to hospitals, police stations, schools, colleges.
22:30While the deaf community waits for that dream to become a reality, there are still things
22:35we could all be doing to create greater inclusivity for those who are deaf or hard of hearing.
23:01It will be easy to understand at the doctor's or police station.
23:07It will be easy to communicate.
23:10There will be accessibility.
23:12It will be easy to look at photos.
23:15Indian Sign Language is the linguistic identity of those in India who are deaf or hard of hearing.
23:22Creating an ecosystem where it can flourish will be a life-changing catalyst for the community.
23:28They may live in silence, but their silence has a voice.
23:32And that voice is the Indian Sign Language.
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