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Mukesh Ambani-backed EV maker is said to weigh raising ₹7 billion

The company, which counts billionaire Mukesh Ambani among its backers, is seeking a valuation of around $350 million in the new round, said one of the people, who asked not to be identified as the information is private. Some of its existing investors could tag along and sell their shares, the people said.

Deliberations are at an early stage and details of the fundraising could still change, the people said. Altigreen Chief Executive Officer Amitabh Saran confirmed to Bloomberg News that the company is in the midst of fundraising and targets to wrap it up by July.

Founded in 2013, Altigreen designs and manufactures electric cargo three-wheelers and has an annual production capacity of 55,000 vehicles, according to its website. The firm raised around 3 billion rupees in a series A round last year that was led by Sixth Sense Ventures. Ambani’s Reliance New Energy Ltd., Xponentia Capital Partners, Momentum Venture Capital and Accurant International also participated. 

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Jain Irrigation on May 26 reported a more than three-fold jump in its consolidated net profit to Rs 976.89 crore in the March quarter of FY23 and also reduced debt by Rs 2,683 crore post-merger of its global arm with Rivulis.

The company posted a consolidated net profit of Rs 279.06 crore in the year-ago period, according to a regulatory filing.

Its total income increased 27.14 percent to Rs 1,745.41 crore during the fourth quarter of 2022-23 from Rs 1,372 crore in the year-ago period.

For the year 2022-23, the company's net profit more than doubled to Rs 831.94 crore from Rs 328.63 crore in FY22. The total income increased to Rs 5,761.80 crore from Rs 4,749.94 crore in the said period.

"The company is back on track. Overall, it has been a good quarter. We have successfully completed the merger of International Irrigation Business with Rivulis (MergeCo) (backed by Singapore-based Temasek Group). This transaction has helped reduce the company's debt by Rs 2,800 crore," Jain Irrigation CEO and Vice Chairperson Anil B Jain said in a virtual conference.

The transaction proceeds have been utilised for repayment of debt of International Irrigation Business and Jain International Trading, along with other liabilities, he told reporters.

The company's consolidated debt, which stood at Rs 6,404.9 crore as on March 31, 2022, came down to Rs 3,721.9 crore as on March 31, 2023.

"We plan to bring down the overall consolidated debt by Rs 600 crore from our internal accruals by next fiscal year," he said, adding that debt will be reduced by improving the working capital cycle and higher revenue.

Post-merger, the CEO said, the company holds an 18.7 percent stake in the merged company valued at $137.5 million and has the option to increase its holding up to 20 percent.

Jain said the company will continue the growth momentum in FY23-24 as well and aims for a 30 percent increase in revenue, banking on strong rural demand.

At present, much of the company's business comes coming from western and southern India and it is also seeing good demand from north India, he said, adding, there won't be a negative impact on the business due to the India Meteorological Department's forecast of El Nino in the short term.

The company had a consolidated order book of Rs 2,355 crore as on March 31, 2023, he added.

The Jalgaon-based company is into manufacturing micro-irrigation systems, PVC and HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Getting started with demo accounts: Practice trading in Qatar

Are you interested in trading in Qatar? Are you looking for a way to get started without risking your money? If so, consider opening a demo account. Demo accounts are an excellent way to practise trading different markets and developing strategies risk-free. 

This article discusses a demo account, how to open one, and the benefits of trading with a demo account in Qatar.

What is a demo account?

A demo account is a simulated trading platform that allows users to trade financial instruments without using real money. As such, it allows traders to experience the markets as if they were using real money – buying and selling assets on the same platforms with live pricing data – without risking any capital. Demo accounts are ideal for novice traders, as they allow them to familiarise themselves with the trading platform, develop strategies and gain confidence in their trading skills before investing real money into the markets.

Two main types of demo accounts are available: live and paper trading. Live demo accounts provide users with simulated funds to trade on the platform; paper trading allows users to track their trades in a virtual environment without risking any capital. Both offer traders the opportunity to practise and refine different strategies risk-free. Additionally, some brokers also offer “simulated” or “practice” options that allow traders to simulate their trades using actual market conditions without using real money.

How to open a demo account

Opening a demo account is easy. Most brokers in Qatar offer free simulated trading accounts that can be opened online within minutes. All you need to do is complete an online application form and select the type of trading platform you want to use – either web-based or downloadable software. Once your account is set up, you can access real-time data on all significant assets and practice making trades without risking any capital.

With a demo account, monitoring your progress and adjusting your strategies as needed is essential. Pay close attention to how different markets move and the effects of volatility on your trades. This will help you become more familiar with the markets and learn how to read price action to better prepare you for trading with real money. By tracking your performance over time, you can also identify areas where you may need to improve or develop additional strategies.

Benefits of using a demo account in Qatar

There are many benefits to using a demo account in Qatar such as a demo trading crypto account. Firstly, it allows traders to practise trading without risking any of their own money. This allows novice traders to gain experience and confidence in their trading skills before committing to natural capital. 

Additionally, it is an ideal way for experienced traders to test out new strategies, as they can do so without risking any capital. Additionally, demo accounts can be used to familiarise yourself with the features of different trading platforms before selecting one that best suits your needs and preferences. Another benefit is that it can help traders identify and rectify any trading mistakes to become more profitable. 

Finally, a demo account in Qatar can help traders familiarise themselves with the country’s regulations and laws governing trading.

Tips for getting the most out of a demo account

When trading with a demo account, it is essential to remember that it is not real money and should not be treated as such. The goal of a demo account should be to practise and refine your strategies in a risk-free environment. As such, you should focus on honing your skills rather than trying to make a profit. 

Additionally, monitoring your progress over time and adjusting your strategies is essential. It is also essential to use realistic trading parameters, such as stopping losses and taking profits when placing trades. This will help ensure that your demo account mimics real-world trading conditions as closely as possible. Finally, use the same risk management techniques when trading with real money to maximise your demo trading experience.

All things considered

Demo accounts are an excellent way for traders in Qatar to practise trading without risking their capital. They allow novice traders to gain experience and develop confidence in their trading skills. They also provide experienced traders with a platform to test new strategies without risking money. 

Additionally, demo accounts allow users to familiarise themselves with different platforms before selecting one that best suits their needs and preferences. Ultimately, using a demo account provides an ideal environment for risk-free trading practice and allows investors to gain valuable knowledge of the markets before investing real money.

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Stop losses are one of the most important tools for forex traders. They are used to limit losses on losing trades and protect profits on winning trades. By setting stop losses, traders can ensure that they do not lose more money than they can afford to lose and that they do not miss out on potential profits.

There are a number of different ways to set stop losses. The most common way is to use a fixed stop loss. This is a stop loss that is set at a specific price level. For example, a trader might set a stop loss to sell EUR/USD if the price falls below 1.1500.

Another way to set stop losses is to use a trailing stop loss. A trailing stop loss is a stop loss that moves with the market. For example, a trader might set a trailing stop loss to sell EUR/USD if the price falls below 1.1500, but only if the price falls below 1.1500 by more than 10 pips.

The best way to set stop losses depends on the individual trader's trading style and risk tolerance. However, there are a few general principles that all traders should follow when setting stop losses:

Set stop losses before you enter a trade. Don't wait until you're in a losing trade to set a stop loss. By setting a stop loss before you enter a trade, you're less likely to let your emotions get the best of you and you'll be more likely to stick to your trading plan.

Use a realistic stop loss level. Don't set your stop loss too close to the entry price. If the market moves against you quickly, you could end up losing more money than you can afford.

Don't move your stop loss. Once you've set a stop loss, don't move it. This is one of the biggest mistakes that traders make. If you move your stop loss, you're essentially gambling that the market will move in your favor.

Stop losses are an essential part of forex trading. By using stop losses, traders can protect their profits and limit their losses. By following the tips above, traders can set stop losses that are effective and that help them to achieve their trading goals.

Here are some additional tips for setting stop losses:

Use a stop-loss calculator to help you determine the correct stop-loss level for your trade.

Consider using a trailing stop-loss to lock in profits as your trade moves in your favor.

Be prepared to adjust your stop-loss level as the market conditions change.

Don't let your emotions get in the way of your trading decisions. Stick to your stop-loss levels, even if it means losing money on a trade.

By following these tips, you can use stop losses to improve your trading results and protect your profits.

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Share Market Closing Note

Benchmark indices sustained their early gains and ended over 1 percent higher. Tata Motors, Bajaj Finance and IndusInd Bank stole the limelight, notched 4-5 percentgains.

The Sensex was up 709.96 points or 1.16 percentat 61,764.25, and the Nifty was up 202.80 points or 1.12 percentat 18,271.80. About 2,006 shares advanced, 1,525 shares declined, and 152 shares were unchanged.

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Topic :- Time:2.50 PM

Just In:

Overall, bank credit has grown by around 15% in FY2023, compared with just around 10% over the last year.

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Topic :- Time:2.40 PM

Just In:

After GoAir now its Spice Jet:

SpiceJet insolvency case: India�s bankruptcy court seeks airline�s reply on unpaid dues claim

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Topic :- Time:2.30 PM

CRUDEOIL Trading  View:

CRUDEOIL is trading at 5952. If it breaks and trade below 5940 level then expect some decline in it and if it manages to trade and sustain above 5970 level then some upmove can be seen however important Resistance will be 6030 from here.

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Topic :- Time:2.10 PM

Nifty is trading at 18280 spot level. If it manages to trade and sustain above 18300 level then expect some quick upmove in the market and if it breaks and trade below 18240 level then some decline can be seen.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 60830. If it breaks and trade below 60780 level then expect some decline in it and if it manages to trade and sustain above 60900 levels then expect some quick upmove in it.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 749.40. If it manages to trade and sustain above 750 level then expect some further upmove in it and if it breaks and trade below 748.80 level then some decline can follow in Copper.

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Topic :- Time:12.10 PM

Just In:

Zomato pilots B2B logistics service as it searches for revenue growth

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Topic :- Time:12.00 PM

Nifty spot is trading at 18260. If it manages to trade and sustain above 18280 level then expect some upmove and if it breaks and trade below 18240 level then some decline can be seen in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex jumps 600 points, TCNS tumbles 18%

2. Aditya Birla Fashion to hunt for ₹800 crore for TCNS acquisition

3. JSW plans to offload some colour stake for $100 mn

4. Blackstone ignores Max hurdle to etch hospital deal

5. Zen Tech trades 8% up after Q4 profit jumps 510%

6. Paytm up 5% on sustained growth in Q4; JPMorgan sees 37% upside

7. UPL shares trade marginally higher on hopes of robust Q4 earnings

8. Coal India slumps as higher wage provisioning plays spoilsport in Q4

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 08 May,2023:

Nifty is likely to remain volatile throughout the week and is expected to follow global cues.

Nifty spot if manages to trade and sustain above 18120 level then expect some upmove in the market and if it breaks and trade below 18000 level then some decline can be seen in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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Paytm had achieved its operating profitability milestone in the third quarter, well ahead of its September 2024 guidance.

Paytm's revenue rose 52 percent to Rs 2,335 crore in the March quarter (Q4) while loss narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.

The company’s payments services revenue grew by 41 percent YoY to Rs 1,467 crore in Q4FY23. Excluding prior quarters’ UPI incentive from the government, payments revenue grew 28 percent YoY.

The company said that it has improved its payments segment profitability with Q4FY23 net payment margin expanding 158 percent YoY to Rs 687 crore while the net payments margin was Rs 554 crore, up 107 percent YoY after excluding the previous quarters’ UPI incentive. In FY23, the company’s net payments margin grew 2.9X to Rs 1,970 crore.

Paytm’s gross merchandise value (GMV) increased 40 percent YoY at Rs 3.62 lakh crore in Q4 FY 2023. With a focus on creating additional payment monetisation, the company’s subscription revenues continue to grow with 68 lakh merchants paying for device subscriptions as of March 2023, almost doubling its growth YoY from 29 lakh as of March 2022.

Paytm’s credit distribution business, in partnership with multiple lenders, has grown to 1.2 crore (up 82 percent YoY) loans while the total value of loans amounted to Rs 12,554 crore, registering a growth of 253 percent YoY.

As of March 2023, 95 lakh borrowers have taken a loan through the platform. For FY23, the total number of loans disbursed grew 163 percent YoY to 4 crore loans amounting to Rs 35,378 crore, surging 357 percent YoY.

Its contribution margin stood at 55 percent, driven by continued improvement in payments profitability and an increasing mix of high-margin businesses like credit distribution.

Contribution profit improved from 30 percent in FY22 to 49 percent in FY23 of revenue to Rs 3,895 crore, up 160 percent YoY. Excluding prior quarters’ UPI incentives, the like-for-like margin increased to 52 percent from 35 percent in Q4FY22.

The user engagement on the platform continued to grow with average Monthly Transacting Users (MTU) for Q4FY23 increasing by 27 percent YoY to 9 crore.

Paytm achieved its operating profitability (in adjusted EBITDA terms) milestone in the third quarter, well ahead of its September 2024 guidance. The company achieved operating profitability on account of the increased pace of monetisation, better cost management, and higher operating leverage. In Q4, its EBITDA before ESOP costs, excluding UPI incentives, rose to Rs 101 crore from a loss of Rs 368 crore in Q4FY22.

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Gambling and stock trading are two activities that involve risk and the possibility of financial gain or loss. However, there are significant differences between the two, and it is essential to understand these differences before deciding to engage in either activity.

Firstly, gambling is an activity in which individuals place bets or wagers on the outcome of a particular event, such as a sports game or a game of chance, such as a casino game. The outcome of the event is determined by chance or luck, and the odds are typically in favor of the house or the bookmaker.

On the other hand, stock trading involves buying and selling shares of publicly traded companies with the goal of making a profit. Unlike gambling, the outcome of stock trading is not determined by chance, but rather by the performance of the company and the overall state of the economy.

One of the most significant differences between gambling and stock trading is the level of risk involved. While both activities involve the possibility of financial loss, gambling is generally considered a higher risk activity due to the reliance on chance and luck. In contrast, stock trading involves a more calculated approach, with investors analyzing the company's financial statements, industry trends, and other factors before making a decision to buy or sell.

Another difference between the two is the level of skill and knowledge required to be successful. While anyone can place a bet in a casino or on a sports game, successful stock trading requires a significant amount of knowledge and skill. Investors must understand financial statements, market trends, and economic indicators to make informed decisions.

Additionally, the time horizon for gambling and stock trading is different. Gambling is typically a short-term activity with immediate results, while stock trading is a long-term investment strategy that requires patience and discipline. Successful investors understand that the value of a stock may fluctuate in the short-term but have confidence that over the long-term, the value will increase.

In conclusion, while gambling and stock trading both involve risk and the possibility of financial gain or loss, they are fundamentally different activities. Gambling relies on chance and luck, while stock trading requires skill and knowledge. Successful investors approach stock trading as a long-term investment strategy, while gambling is typically a short-term activity. Understanding these differences is essential for anyone considering engaging in either activity.

So Forget Gambling Prefer STOCK MARKET TRADING and GET STOCK TIPS For Sure Profit

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Urgent discussions are being held by US officials to rescue First Republic Bank because the private-sector initiatives, led by the bank's advisers, have not yet reached an agreement.

As reported by Reuters citing sources, the Federal Deposit Insurance Corporation (FDIC), the Treasury Department and the Federal Reserve are among government bodies that have in recent days started to orchestrate meetings with financial companies about putting together a lifeline for the troubled lender.

One of the sources mentioned that the participation of the government is facilitating the involvement of more parties such as banks and private equity firms in the negotiations.

Meanwhile, another person familiar with the matter noted that it is unclear whether the U.S. government is considering participating in a private-sector rescue of First Republic. The government's engagement, however, has emboldened First Republic executives as they scramble to put together a deal that would avoid a takeover by U.S. regulators.

In March, First Republic was at the center of the regional banking crisis in the United States. The bank's rapid expansion fueled by attracting wealthy clients came to a halt when these clients started withdrawing their deposits, causing significant damage to the bank.

The sources requested anonymity because the discussions are confidential.

"We are engaged in discussions with multiple parties about our strategic options while continuing to serve our clients," First Republic said in a statement.

The Treasury Department declined to comment; the FDIC and Federal Reserve did not immediately respond to emailed requests for comment after hours.

Wall Street banks have been trying to find a solution for First Republic since 11 of the biggest U.S. lenders deposited $30 billion at the bank on March 16 to stanch a regional banking crisis that led to the failure of Silicon Valley Bank and Signature Bank.

Discussions for a deal took on new urgency this week after First Republic revealed on Monday it had deposit outflows of more than $100 billion in the first quarter. Although the bank said its deposits had stabilized, it disclosed it was losing money because it had to replace the withdrawn deposits with interest-bearing funding from the Federal Reserve.

U.S. officials view a private-sector deal as preferable to First Republic falling into FDIC receivership, two of the sources said. But many of the options proposed - including selling assets or the creation of a "bad bank" that would isolate its underwater assets - have so far failed to yield a deal, the sources added.

For any resolution to be effective, it would need to provide protection for losses that either the First Republic or a possible acquiring entity would incur in case of a transaction. Such losses would arise from the bank's loan portfolio and fixed-income investments, which have low yields that would be devalued to reflect an increase in interest rates.

First Republic is contemplating a major hit, and even a total loss for shareholders, as part of the options that would prevent U.S. regulators from taking it over, one of the sources said. First Republic shares have lost 95% of their value since the regional banking crisis started on March 8.

However, sources further noted that no decision on a way forward has been made and no deal is certain.

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Share Market Closing Note

Indian shares slipped on Wednesday, dragged by information technology (IT) stocks as sentiment remained weak after a lacklustre start to the quarterly earnings season.

The Nifty 50 fell 0.16% to 17,632.50, as of 10:42 a.m. IST, while the S&P BSE Sensex lost 0.17% to 59,623.09.

Nine of the 13 major sectoral indexes declined. High weightage financials was little changed while IT stocks fell over 1%.

HCLTech and Infosys lost nearly 2% each, topping the list of Nifty 50 losers. HCLTech will report its quarterly earnings on Thursday.

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Topic :- Time:3.00 PM

Nifty spot if holds above 17560 level on closing basis then expect some pull back in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to continue in coming sessions.

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Topic :- Time:2.30 PM

SILVER Trading View:

SILVER is trading at 74280. It is trading in deep red. Silver if breaks and trade below 74180 level then expect some further decline in it and if it manages to trade and sustain above 74400 level then some pull back can follow in Silver.

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Topic :- Time:2.10 PM

Nifty is declining and is trading at 17600. If it breaks and trade below 17580 level then some further fall can be seen and above 17640 level some pull back can follow. 17580 spot is acting as immediate support for Nifty.

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Topic :- Time:1.50 PM

Just In:

Infosys share price continues to fall for 3rd straight day post weak Q4 show

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Topic :- Time:1.00 PM

Nifty spot is trading at 17650.If it manages to trade and sustain above 17680-17700 levels then some upmove can be seen in it and if it breaks and trade below 17620 level then some decline can further follow in the market.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 775.45. If it breaks and trade below 774.80 level then expect some decline in it and if it manages to trade and sustain above 776.40 level then some upmove can follow in Copper.

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Topic :- Time:12.15 PM

Just In:

As per UN report India is now worlds most populous country.

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Topic :- Time:12.10 PM

Just In:

The week-long disruption to Blinkits operations in the Delhi NCR region due to delivery partners protest over a new pay structure have caused no material impact on the financial performance, with a hit of less than one percent in revenue, the quick commerce companys parent Zomato said in a stock exchange filing on Wednesday.

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Topic :- Time:12.00 PM

Nifty is trading in a small range. Traders should wait for some movement in the market. Nifty spot if manages to trade and sustain above 17680-17700 levels then expect some upmove in the market and if it breaks and trade below 17640 level then some decline can be seen in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex down 100pts; IT index slips 1%, metal stocks upbeat

2. BEML Land Asset shares list on bourses

3. Tatas Air India may partner foreign biggies to bid for erstwhile unit

4. India reimposes windfall tax on local crude output

5. India logs 10,542 Covid cases in a day

6. PSU banks list assets for sale to NARCL

7. Bajaj Electricals lights up after huge block deal

8. ICICI Lombard Q4 net profit rises 40%

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 19 April,2023:

Nifty to remain volatile and is expected to follow global cues.

Nifty spot if manages to trade and sustain above 17700 level then expect some upmove in the market and if it breaks and trade below 17600 level then some decline can follow in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day.

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On the morning of April 13, clients of discount broking platform Shoonya panicked after realising they were unable to put through trades. Reason: a technical error in the broker’s system. To complicate matters further, many traders using the Shoonya app saw their accounts showing trades they had not done.

Thursday being the expiry for weekly contracts in Bank Nifty and Nifty, these traders did not want to take a chance. Unable to square off the positions on Shoonya, they took offsetting positions through other brokers to minimise potential losses. Traders who managed to square off the ghost trades on Shoonya found the reversal trade showing as a new transaction in their accounts at the end of the day.

Many are staring at a loss of anywhere between a few thousands and a few lakhs of rupees. Others saw their profits shrink because of the reversal trades. There were a few lucky ones like Jaipur-based Harsh Khandelwal who ended up with a small profit on positions he took on other platforms to offset the erroneous trades.

“Things were looking bad during the incident, but (the) final outcome turned out to be positive in my case,” he told Moneycontrol, adding that a few of his friends made bigger profits on similar trades.

On the face of it, this may appear to be yet another dispute between a broker and its clients. This is not the first instance of traders losing money because of the broker’s system faltering, neither will it be the last. But the episode needs to be viewed in light of the increasing concern among regulators worldwide due to the explosive growth in equity options trading over the last couple of years, particularly by novice retail investors. It is not just in India that options trading has taken off in a big way; the US market too is witnessing a similar trend.