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The Print
an hour ago
- The Print
Indian indices open flat as FPI outflows weigh on sentiment despite govt boosters
Market experts noted that factors such as monetary and fiscal stimulus, good monsoons, benign inflation, and targeted consumption boosters should ideally have pushed Indian markets higher. The Nifty 50 index opened at 24,965.80, slipping by 14.85 points or 0.06 per cent. Meanwhile, the BSE Sensex started the day at 81,669.09, registering a modest gain of 24.70 points or 0.03 per cent. New Delhi: Indian stock markets opened flat on Tuesday as continuous foreign portfolio investor (FPI) outflows kept indices in check, even as the government recently announced several consumption-boosting measures. Ajay Bagga, Banking and Market Expert, told ANI 'What has held back the markets has been a relatively higher valuation in an underwhelming earnings recovery scenario. As earnings rise, Indian markets will rise ahead of these. That could happen by the next quarter as the festive season boost meets the government boosters. At some point, Indian markets will take off in anticipation.' On the global front, Bagga said that the easing of tensions between India and China, along with Chinese assurances on supply of rare earths, fertilisers, and tunnel boring machines, as well as expectations of large FDI inflows, should have improved investor sentiment. India is also making efforts to address the impact of punitive tariffs imposed by the US on key labour-intensive export sectors. In addition, the country is working to forge stronger economic partnerships at the geostrategic level. These measures will safeguard jobs and benefit India's trade outlook in the coming months. Another factor that markets are closely watching is the movement of FPIs. Large short positions taken by FPIs have added pressure on the indices. Once these reverse, Indian markets could see sharp short covering, potentially helping indices climb to all-time highs by the end of the year. In the broader market, the Nifty 100 was down by 0.08 per cent, while the Nifty Midcap 100 slipped 0.05 per cent. The Nifty Small Cap 100, however, gained 0.11 per cent in the opening session. Among sectoral indices on NSE, mixed trends were seen. Nifty Auto rose 0.17 per cent, while Nifty FMCG declined by 0.17 per cent. Nifty Pharma was down 0.20 per cent, Nifty Realty slipped 0.14 per cent, and Nifty Oil & Gas fell 0.15 per cent. Vikram Kasat, Head – Advisory at PL Capital, said, 'Nifty continued its bullish momentum. On the hourly chart, there was a gap zone between 24,993-25,046 levels which will be the immediate resistance. Clearing this can push the Nifty higher towards 25,250, which is a make-or-break zone from a medium-term perspective. The 24,852-24,673 range will be the support zone.' In the Asian markets, trading sentiment was largely weak on Tuesday morning. Japan's Nikkei 225 index declined by 1.87 per cent, Hong Kong's Hang Seng lost 0.77 per cent, Taiwan's weighted index slipped by more than 2 per cent, while South Korea's KOSPI fell by 1.98 per cent at the time of filing this report. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content. Also read: New insolvency frameworks to shorter timelines, how 2025 amendment bill proposes to transform IBC
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Business Standard
2 hours ago
- Business Standard
Real-money gaming dealt a losing hand as crackdown follows ₹20,000 cr blow
Mounting social concerns and an estimated ₹20,000 crore loss by nearly 450 million people due to frauds in real-money gaming (RMG) have pushed the Centre to impose a blanket ban on the sector. The decision comes amid alarm over opaque algorithms, user addiction, and widespread financial distress linked to games such as rummy, poker, and fantasy sports. The ban not only ends the long-standing debate over whether skill-based or chance-based games can operate in India but also overrides the patchwork of state-level rules on regulating or prohibiting the sector. Experts and industry players warn that the move could backfire by driving users towards unregulated offshore betting platforms. 'Government needs to reconsider and take a more calibrated stance, as prohibition has never worked. This Bill will bring back the satta market with a vengeance. Blanket bans drive users to unregulated platforms rather than protecting them. Instead of reducing harm, prohibitions create black markets that are harder to regulate and far riskier for users,' said Abhay Raj Mishra, president and national convenor of Public Response Against Helplessness & Action for Addressal (PRAHAR). PRAHAR's July 2024 survey of 2,500 gamers in Telangana, where RMG has been banned for eight years, found more than 94 per cent of players still accessing offshore or illicit apps through virtual private networks, Telegram groups, or sideloaded platforms. Industry executives also flagged the dominance of offshore operators, who already control nearly 80 per cent of the RMG market and run operations from tax havens such as Malta, Curaçao, and the British Virgin Islands. 'We continued to absorb high tax costs to keep users engaged. But if costs are passed on, users will simply migrate to untaxed offshore platforms,' said one senior executive. The ban comes even as the sector was reeling under a 28 per cent goods and services tax (GST) imposed in October 2023. More than 400 companies employ 200,000 people in the sector, estimates show. Major players include Dream11, Games24x7, Junglee Games, MPL, Zupee, Gameskraft, Head Digital Works, and Nazara Technologies. The decision has jolted the industry, which until recently was preparing for the impact of a steeper tax rate on margins. 'What has surprised the industry is that the Bill has been tabled without any consultation. We were not aware of this Bill until Tuesday,' said another senior executive. Founders and executives told Business Standard they were questioning the Centre's intent behind a blanket prohibition, especially after years of contributing through taxes, compliances, and outreach. They pointed out that the move came just days after rumours of a higher 40 per cent goods and services tax (GST) slab, categorising gaming as a 'sin' commodity — something they had already deemed unsustainable. 'Why was there revised GST chatter when the sector was supposed to be killed?' asked the founder of an RMG company. A joint report by the US-India Strategic Partnership Forum, the Interactive Entertainment & Innovation Council, and WinZO said the Indian exchequer loses $2.5 billion annually in tax revenues due to user migration to offshore companies. 'From an economic perspective, the prohibition is likely to hurt an industry that contributes heavily to GST collections and employment, while simultaneously driving users to offshore, unregulated platforms,' said Navod Prasannan, partner, King Stubb & Kasiva, Advocates & Attorneys. Between 2022 and 2024, the Ministry of Electronics and Information Technology issued blocking directions to 692 gambling and betting websites and apps. 'We acknowledge the government's decision to ban RMG and respect that this step has been taken after careful consideration of the social and regulatory concerns associated with the sector. As responsible stakeholders, we recognise the government's priority to safeguard consumer interests, prevent harm, and ensure that innovation aligns with national well-being,' said Shweta Rajpal Kohli, president and chief executive officer (CEO), Startup Policy Forum. Casual games level up? The Bill proposes recognition for e-sports where games do not involve wagering and rely on factors such as mental agility or strategic thinking. Currently, categories such as casual, midcore, or AAA-rated games depend on advertising or in-app purchases for revenue. A void in the RMG space may steer users towards e-sports, with the sector welcoming the Centre's decision. 'I welcome the Centre's decision to prohibit RMG and establish a strong regulatory framework. Too many young lives were being lost to addiction and debt. This decisive step safeguards our youth while unlocking the future of Indian gaming, driven by original intellectual property (IP), creativity, and Make in India games,' said Vishal Gondal, cofounder of nCore Games. Ecosystem participants added that the move is expected to drive stronger IP development in the country. 'We applaud this decision, as it allows us to focus on the real concerns as a business — monetisation, retention, and most importantly, building great IP for India and the world, rather than having to explain to our audiences what we are to begin with,' said Sumit Batheja, CEO and cofounder of Ginger Games.
Time of India
3 hours ago
- Time of India
How Indian affiliates earn and scale with 1xPartners
The 1xPartners affiliate program by 1xBet brings together people from diverse backgrounds, all united by a common goal — growth in digital marketing. In this article, three partners from India share their path and formula for success. Shubham: from hosting industry to 100,000 FTD Shubham has over 7 years of experience in digital marketing. Recently, his 8-person team shifted its focus from hosting to the gambling niche, especially working with 1xPartners. 'Honestly, I see myself working with this affiliate program for years to come. Reliable payouts, dedicated manager support, and the strength of the brand give me the confidence to keep scaling,' he shares. Using SEO, targeted video content, and paid campaigns on Telegram, Shubham achieved 3x revenue growth in his first year — and now aims to reach 100,000 FTDs by the next IPL season. However, not everything went smoothly at the beginning. 'My first mistake was choosing the wrong niche. There was traffic, but there were almost no conversions,' Shubham recalls. He initially focused on the Tamil Nadu League, confident that the regional tournament would attract Indian fans. He also noticed that many colleagues from competing affiliate programs were targeting this league as well. The situation changed when the 1xPartners manager promptly shared analytics and advised on other events with higher conversion potential. Shubham rebuilt the strategy, and the transition yielded profits even during the off-season. "Now I always listen to the recommendations from 1xPartners managers. Their expertise and analytics help me make decisions that work," he concludes. Shubham's team is currently preparing to launch a cricket fan page and is actively testing social media, push notifications, and gamified activations. Rahul: from experiment to serious business Rahul didn't plan on becoming a long-term 1xPartners affiliate — it all started as a YouTube experiment in 2021. Today, it is his primary source of income. "I started for fun, and now it is my main job. I am also preparing to launch my project, a pilot content platform," he says. Working alone, Rahul focuses on YouTube and Telegram, using a simple yet effective combination: useful content, promos, and contextual links. Rahul's videos explain how a particular product feature works, cover promo rules, and answer subscribers' questions. In addition to cricket events, he also reviews games such as Chicken Road, Aviator, JetX, and Crazy Time, which are rapidly gaining popularity in India. His approach combines an educational format with an entertaining one, making his videos appealing to both beginners and experienced players. Over the past five years, his income has increased by 35%, and he has learned to avoid common mistakes, such as placing links without context, neglecting local niche regulations, skipping testing, and being impatient at the outset. His future focus is to expand geographically, try new formats, collaborate with influencers, automate processes, and develop a sustainable, multi-channel system. Kumar: it is more than just sharing a link Specialising only in YouTube, 25-year-old Kumar and his three like-minded teammates have achieved a 50% increase in affiliate marketing income with 1xPartners over the past three years. According to him, the key advantages of working with 1xPartners include strong brand trust backed by famous ambassadors, a user-friendly interface, fair weekly payouts, and large-scale promos, which greatly facilitate audience attraction. He also highlights the support from managers who assist with content creation, enabling his team to concentrate more on audience engagement rather than technical details. Kumar's philosophy is to give users more than just a link. 'You need to work not just for money. Always stay consistent and deliver value to your customers; that's what builds trust,' he says. Kumar began with videos on how to register and claim a welcome bonus, then moved on to tutorials on event selection, market understanding, and working with analytics. This approach helped him find an audience that values his practical advice and honest attitude. Kumar's immediate plans include adding live streams and gamified elements to boost audience engagement. Secret to shared success The experience shows that success in affiliate marketing starts with the right partner. 1xPartners can boast: trust in the 1xBet brand, which has been well-known in India since 2016 and is backed by famous ambassadors, as well as large-scale marketing campaigns. transparent program and stable payouts - weekly, on time, with the option to withdraw earnings after just four referred players. professional support from managers who assist with content, analytics, and traffic strategy. flexible monetisation - from sporting events to games and promos. Brand trust works in your favour, attracting audiences and making traffic acquisition easier. Meanwhile, the numbers speak for themselves: last week, the highest RS-model payout reached $36,996.76 — earned by just one partner in a single week. 1xPartners is where stability, transparency, and growth go hand in hand. About 1xBet 1xBet is a globally recognised bookmaker with 18 years in the betting industry. The brand's customers can place bets on thousands of sporting events, with the company's website and app available in 70 languages. The official partner list of 1xBet includes FC Barcelona, LOSC Lille, La Liga, Serie A, European Cricket Network, Durban's Super Giants, and other renowned sports brands and organisations. The company's ambassadors in India are famous cricketer Heinrich Klaasen and actress Urvashi Rautela. The company has repeatedly been a nominee and recipient of prestigious professional honours such as IGA, SBC, G2E Asia, and EGR Nordics Awards.
