Karnataka Electricity Regulatory Commission tells electricity supply companies to revise tariff
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New Indian Express
25 minutes ago
- New Indian Express
Tasmac to start transfer counselling for 24,000 staff
CHENNAI: For the first time since it became the sole retail vendor of alcohol in the state in 2003, the Tamil Nadu State Marketing Corporation (Tasmac) has commenced work for a state-wide transfer counselling to rationalise the deployment of its roughly 24,000 sales staff in the 4,826 retail outlets it runs. Tasmac officials said the intent behind the move is to streamline the operations through effective deployment of staff based on the sales volume of the outlets and to prevent scope for irregularities, especially by those working in the same outlets for several years. The sales staff include salesmen and supervisors. A senior official told TNIE the shops have been divided into four categories based on their daily sales volume - above Rs 10 lakh, between Rs 5 lakh and Rs 10 lakh, between Rs 2 lakh and Rs 5 lakh, and below Rs 2 lakh. 'So far, staff transfers were done within the same district. But we found that some salesmen have been working in the same shop for over 10 years, mainly due to the influence they wield because of their political or union affiliations. This has led to bribery and favouritism,' the official said. The official said Tasmac has decided to transfer those who have been in the same outlet continuously for more than 10 years. 'We are going to conduct state-wide counselling for staff transfers for the first time since 2003,' the official added. T Dhanasekaran, general secretary of the Tamil Nadu Tasmac Employees Association, affiliated to All India Trade Union Congress, urged the state to first frame service rules before conducting the state-wide counselling. 'We have been working for more than 20 years, but there is no clear service rule, no promotion, proper week-off, medical allowance or regular wage revision,' he said.
Time of India
25 minutes ago
- Time of India
Kotak Mahindra Bank shares in focus as shareholder likely to sell Rs 2,066 crore stake via block deal
Synopsis A Kotak Mahindra Bank shareholder is set to offload 1.05 crore shares via a block deal, with the floor price fixed at Rs 1,955 — a 2.4% discount to the last closing price. JP Morgan is handling the transaction.
Economic Times
25 minutes ago
- Economic Times
Can auto and IT sectors outperform Nifty over next 3 years? This is what Feroze Azeez has to say
Tired of too many ads? Remove Ads , Joint CEO,anticipates auto and IT sectors to outperform the Nifty index by 3-4% compounded over the next three years. Despite geopolitical concerns impacting goods exports, IT earnings remain strong, with Nifty IT showing consistent performance. Azeez believes the trade war's overhang on IT is creating an opportunity for will be very contrarian to say that because I look at larger timeframes because of the nature of the business I am in. If I am looking at three to four years, not three months to six months, I am looking at those sectors which can beat the Nifty by about 3% to 4% compounded over the next three years. Surprisingly, I will count auto and IT in it. IT as a sector is 25-27% lower than its peak. The Nifty IT index has about 10 stocks. Their earnings last year was 10.7% on a constant constituents basis. This quarter, Nifty IT's earnings are about 10.3%. Earnings are being ignored because of a lot of other ownership changes and the bad news on the geopolitical and external side. Our services export is $36 billion, that is not getting too impacted. $81 billion of goods export is getting impacted. $15 billion of goods which are exempt from the tariff are not getting impacted. But there is a little overhang of trade war on IT. I personally think, Nifty IT can beat Nifty by about 3% to 4% compounded over three years.: There are some new-age tech consumption stocks even in Nifty. But in Nifty IT, there is no representation yet. Either way if you are speaking about those stocks which are new-gen stocks, which are part of Nifty, I personally think those which are not profitable businesses today and use IT platforms for their business, are not at all earnings plays. That is why you see such high beta there. Now, Eternal became a part of Nifty last year. Once it becomes a part of Nifty with 1.86% weight, EPFO has 8 lakh crores or 7 lakh crores in Nifty. So, 1.8% weight of 7 lakh crores is a straight Rs 15,000 what happens is when large stocks get listed, they suddenly come into these indices and the first flow comes from passive. Then the entire threshold resistance has been breached. First the trader comes, then the active fund manager tries to create a retrospective story that I am missing out but there is some case here. Actually, there is no case from a profitability standpoint. It is a vicious cycle of passive flows. As soon as you get listed, after six months most of the indices do a review and as you suddenly come into the industry or the listed space, you will suddenly get a weight according to your if the NSDL IPO gets listed, it is not a part of the NSE capital market index which Motilal Oswal formed. But once it is listed, it will come into that index. HDFC AMC is the largest stock. It might become the third, fourth largest stock. So, a lot of money needs to be moved from other 15 or 14 Nifty capital market stocks to NSDL. The market is missing this phenomena and that is why when so many businesses get listed, they get an impetus from passive funds and the trader sees all the charts and says oh, there is a flag pattern and it is time to enter it. The fund manager then says what did I miss and tries to create a report; the sell side analyst justifies those valuations rather than searching for valuations beforehand.
