That apart, steep valuation after a sharp rally since the past few months may limit immediate upside.
Not to be left behind, actor Kangana Ranaut stepped in to do what she does best – vomit out a volley of disjointed sentences that have zero connection to anything actually happening in the real world. We wouldn’t like to link to her tweet out of sheer consideration for your senses but for those of you who are curious, she essentially called protesting farmers terrorists working at the behest of the Chinese. Ranaut tweeting out madcap conspiracy theories comes as no surprise. What beats us is the media’s persistence in amplifying her statements.
So, we had NDTV telling us how Ranaut ‘slammed’ Rihanna.
“Explodes” sounds about right for a massive star turning into a black hole of misinformation. The supernova moment could have very well been Ranaut’s last interview on Republic TV.
There isn’t a media house that hasn’t amplified Ranaut’s tweets with headlines stressing how she thinks Rihanna is foolish.
This farce will continue so long as media outlets are dependent on advertisements to get which they need to generate clicks for their websites with non-stories. If you want actual news on the farmers’ movement, follow the Newslaundry Twitter handle, or log on to our website for reports from the ground.
Viewed over one lakh times, the clip has prompted several reactions among netizens with many quite amused with the incident.
Sanjana Sanghi keeps it casual yet powerful; steals the show with latest look
Sanjana Sanghi was styled by celebrity stylist duo Pranay Jaitly and Shounak Amonkar and the end results are fabulous!
If you follow Sanjana Sanghi on social media, then we do not need to tell you that the actor’s fashion game is always on point. Whether it is pairing a denim crop top with an intricately detailed skirt or acing an ombré sequin sari — the Dil Bechara actor knows how to turn heads with her style choices.
So when she spotted one of her latest looks, we admit that we simply loved it — in fact, it even made it to the list of our current favourites!
Sanjana totally killed it in a lime green co-ord set from Lovebirds Studio. The set comprises an oversized blazer paired with matching ankle-length pants. The highlight of the look, however, was the matching waistbelt which gave the collared blazer some structure.
A strong outlook for the tractor industry, on the back of higher farm incomes due to better crop yields and prices, increasing mechanisation and government focus on infrastructure development, bodes well for the tractor-maker Escorts and Mahindra & Mahindra (M&M), according to analysts who see an up to 21 per cent upside in the former following its December quarter numbers.
Escorts, whose stock has rallied 152 per cent since its March low of Rs 527.10 on the BSE, posted an 83.4 per cent year-on-year (YoY) increase in its net profit at Rs 280.7 crore for the third quarter ended December 31, 2020, led by robust sales across business segments. M&M, on the other hand, has gained 232 per cent from its 52-week low hit in March. The S&P BSE Sensex and the BSE Auto indices have gained 94 per cent and 136 per cent, respectively since March lows, ACE Equity data show.
Newslaundry does not depend on advertisements, what keeps us going is subscriptions from news consumers who care for real news and critique of news media. Do your bit and subscribe to Newslaundry if you don’t want Ranaut exploding and slamming on your news feed.
To boost its revenue income, BMC proposed to appoint a fee revision authority, which will suggest a revision of fees for civic amenities, like entry fee to gardens, among others. “The BMC needs funds in the future to meet the increasing capital expenditure. Hence, it is the necessity of time to seek other avenues of income,” said Chahal.
The decision by Centre will increase the 7th pay commission linked DA of the Central government employees by 8%.
The DA restoration will lead to a rise in central government employees' 7th CPC linked Travel Allowance (TA) too.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Mumbai: Under Covid-19 shadow, health gets an uptick
As the city gears up for civic polls next year, the Shiv Sena-led BMC made infrastructure projects a top priority by earmarking Rs 18750.99 crore, with an ambitious 28 per cent increase in capital expenditure.
Also, to get reports regarding demand, collection and outstanding amount of tax per property, BMC is set to move online. It further said failure to pay property tax will lead to attachments of properties, auctions and disconnection of water supply.
Kangana Ranaut ‘explodes’ and ‘slams’ on our news feed. Yet again
Why do Indian media outlets routinely amplify dangerous conspiracy theories? It’s good for business.
Despite the positives, analysts caution that Escorts and M&M may witness commodity cost pressures that could impact the margins.
“In Q4FY21, Escorts margins will be impacted by input cost escalation of 5 per cent against which the company has already taken a price hike of 2 per cent in November 2020. The company plans to take another such price hike in the first quarter of FY22,” Motilal Oswal Financial Services said in a recent note.
Ace investor Rakesh Jhunjhunwala owns 4.75 per cent stake in Escorts as of December 2020 quarter, according to the shareholding pattern available on the BSE. During the said quarter, he reduced his stake by 0.89 per cent.
Going ahead, while analysts see the tractor volumes for the firm growing, revival in the economy and government spending are likely to boost the revenues for the construction equipment and railway segments. Following Escorts’ Q3 numbers, Kotak Institutional Equities (KIE) maintained a 'BUY' rating on the stock and raised its target price to Rs 1,700 from Rs 1,680 earlier, implying an upside of 21 per cent from the current levels on the BSE. The brokerage said it values the stock at 17 times March 2023E EPS.
Analysts at Phillip Capital and HDFC securities, too, have 'BUY' and 'ADD' rating on Escorts with a target price of Rs 1,615 and Rs 1,480, respectively.
Strong tractor demand
Analysts see strong tractor demand to continue in the fourth quarter of FY21 and well into FY22. According to KIE, total tractor volumes for the company will grow at 14.5 per cent YoY in FY2021E and 10.7 per cent in FY2022E. That apart, the company’s Rs 3.3 billion order book from Indian railway with an execution timeline of 6-8 months also gives revenue visibility.
"While pent-up demand is more or less over, farm ecosystem indicators are all positive and hence growth should continue. Furthermore, the non-agri use of tractors (25–35 per cent of sales), which is yet to revive, could support tractor demand in FY22," analysts at Motilal Oswal Financial Services said in a recent note.
The firm on Monday posted a 48.8 per cent YoY jump in tractor sales at 9,021 units in January 2021. The company during the announcement of sales had said the tractor market continues to be strong on the back of positive macroeconomic factors and strong rural cash flows.
M&M, too, according to Gaurang Shah, head investment strategist at Geojit Financial Services will not only benefit from the tractor sales growth but also because of its diversifies profile and foray into the passenger vehicle segment.
AK Prabhakar, head of research at IDBI Capital also shares this view. “Given M&M's 40 per cent market shares in the tractor segment, it will be a key beneficiary of the growth in the segment. If Escorts has reported record sales in December quarter, there are similar expectation for M&M, too,” he said.
Further, BMC proposed to revise scrutiny fee levied by the Mumbai Fire Brigade for granting permission to buildings, residential societies and builders to provide fire and life safety measures in the properties. The scrutiny fee was last revised in 2010. If the fee is revised, BMC estimates an additional income of Rs 140 crore. The civic body also proposed the implementation of fire service fee, from which it expects a revenue of Rs 20 crore.
o improve property tax collection – BMC’s second-highest source of income, almost 24 per cent of its revenue – Chahal stressed on reforming property tax assessment and collection.
“Though BMC is facing various difficulties due to the pandemic, including increased expenditure against the affected revenue collection, the budget estimates are prepared with the vision of upgradation
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