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Time of India
7 hours ago
- Business
- Time of India
RBI to conduct Rs 50,000 crore overnight VRRR auction on July 31
The Reserve Bank of India will conduct overnight variable rate reverse repo (VRRR) auction on July 31 to absorb Rs 50000 crore. This comes close on the heels of mopping up Rs 46058 crore from the inter-bank market on July 29 through a three-day VRRR. The central bank announced the VRRR even as the overnight weighted average call rate settled at 5.38% Wednesday, against the previous day's 5.35%. The overnight rate is hovering below the repo rate of 5.50%. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing healthcare Others Cybersecurity Product Management Data Analytics Artificial Intelligence Healthcare Project Management MBA Management PGDM Leadership Finance Degree Data Science MCA Public Policy others Technology Data Science CXO Design Thinking Operations Management Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details The central bank conducts VRRR to manage liquidity when there's an excess of supply of money in the inter-bank system. RBI has been taking calibrated actions to manage surplus liquidity and align the call money rate with the repo rate. On Tuesday, the RBI absorbed a total of Rs 1.53 lakh crore through its various liquidity adjustment tools, including the VRRR.
Time of India
3 days ago
- Business
- Time of India
Repono IPO opens for subscription: Check GMP, price band and other details
Mumbai-based Repono, a specialist in warehousing and logistics for the oil and petrochemical sectors will open its Rs 26.68 crore IPO for public subscription on Monday. The issue, entirely a fresh equity offer of 27.79 lakh shares, will close on Wednesday with a tentative listing scheduled on the BSE SME platform for August 4. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Degree Data Analytics Artificial Intelligence Project Management MBA Cybersecurity Design Thinking Leadership CXO Healthcare Management healthcare MCA Finance Operations Management Data Science Technology Others Data Science PGDM others Public Policy Product Management Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Price Band and GMP The IPO is priced in a band of Rs 91 to Rs 96 per share, with a lot size of 1,200 shares. Retail investors must apply for a minimum of two lots (2,400 shares), amounting to Rs 2.30 lakh at the upper band. For HNIs, the minimum application is three lots (3,600 shares) at Rs 3.45 lakh. According to market sources, the grey market premium (GMP) for the Repono IPO stood at Rs 21, indicating a 22% listing premium over the upper band price. Business Overview Incorporated in 2017, Repono operates across consulting, EPC, transportation, and warehouse operations, catering primarily to clients in the oil & gas, petrochemical, ethanol, and lube oil segments. The company was recently named among the top 10 3PL logistics providers in India by Industry Outlook magazine. Its core strength lies in delivering end-to-end solutions across the hydrocarbon value chain — from warehouse and terminal design to transport and project execution. The company had 381 employees on its rolls as of October 2024. Financial Highlights Repono posted FY25 revenue of Rs 51.59 crore, a 51% jump YoY, while PAT rose 23% to Rs 5.15 crore. The company boasts a healthy ROE of 44.22%, EBITDA margin of 15.91%, and a low debt/equity ratio of 0.43. At the upper price band, the IPO is valued at a P/E of 19.16x (post-issue EPS), and a Price-to-Book of 5.06x, signaling a moderate-to-premium valuation given its sectoral niche. Use of ProceedsRepono will deploy IPO proceeds towards equipment purchases, setting up a warehouse racking system, developing warehouse software, and working capital needs. Wealth Mine Networks is the lead manager, while Cameo Corporate Services is the registrar and JSK Securities is the market maker. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
Time of India
5 days ago
- Business
- Time of India
Mumbai deluge: 20 years ago, when gritty men saved lives in urban flood with limited equipment
Rescuing a woman with a child from a pillar and some Divyang individuals from a bus amid the Mithi river surge still sends shivers down the spine of retired Mumbai Fire Brigade chief Prabhat Rahangdale, even two decades after the July 26 deluge that paralysed Mumbai. On that day, Mumbai came to a standstill as an unprecedented 944 mm of rainfall within 24 hours, combined with high tides, triggered flash floods and landslides that claimed 450 lives. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Artificial Intelligence Technology Degree Management CXO Project Management others PGDM Operations Management healthcare Others Healthcare Product Management Design Thinking MCA Data Analytics Finance MBA Cybersecurity Public Policy Data Science Data Science Leadership Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Rahangdale vividly recalls his team rescuing 300 people from areas within a 10-km radius-Kurla West, BKC, and Kalina-by deploying kayaks and jet skis, typically reserved for adventure sports. "I've participated in thousands of rescue operations, but some incidents remain permanently etched in memory," he reminisced. At the time, the Fire Brigade and the city civic body lacked dedicated flood rescue teams, prompting Rahangdale to enlist personnel from an agency specialising in beach adventure activities. Live Events He and other officials travelled in a jeep to Kalanagar en route Bandra Kurla Complex via Sion circle, navigating water-logged roads and stranded vehicles. In hindsight, Rahangdale admits the huge risk he had undertaken. "Only three vehicles reached Kalanagar crossing that day. Looking back, I realise how dangerous it was. Fortunately, our jeep didn't break down. We witnessed other vehicles nearly submerged and waves rippling from our movement," he told PTI. Once they reached BKC's eastern side, the team established a command and control centre at the MTNL building before launching rescue efforts. The opposite bank of the Mithi River presented a grim scene. "A double-decker bus was almost entirely submerged in muddy water, with only the rooftop visible," he said. During the rescue preparations, Rahangdale heard a woman crying for help. She had managed to perch herself on a power feeder pillar, clutching a child on her shoulder. As the water level rose to her waist, the team knew that the time was running out. They immediately deployed a kayak and a jet ski and rescued the woman and the child. "She said she had been stranded at the LBS Road junction for 90 minutes. I still wonder how she climbed the pillar while holding a child, with water rushing from all directions," Rahangdale said. Not far from the spot, rescuers spotted a bus with 20-25 people, including Divyang individuals and young girls, trapped in swirling waters. "We pulled them out through the rear emergency windows," he said. A rope was tied between two buses separated by 300 metres, allowing the stranded group to be transported, first to the rooftop of the double-decker bus via kayaks, and eventually to safety at the MTNL building. He cited the overwhelming force of upstream water as the biggest challenge during operations. "Rescuing that woman and the physically challenged individuals gave me an immense sense of satisfaction," he said. On July 27, rescue efforts shifted to the Air India Colony, where residents struggled for food and clean water amid the devastation. At the time, Mumbai had no formal flood rescue structure. "I was trained in search and rescue operations in collapsed structures, not floods. But luckily, I had completed a short course on flood rescue during a UN mission to Indonesia in 2004, and it proved invaluable," he explained. Now retired as Deputy Municipal Commissioner, Rahangdale reflects on the lessons from the 2005 floods that fundamentally reshaped Mumbai's disaster response systems. "After July 26, we formed flood rescue and beach safety teams, which saved several lives over the years," he added. He also led responses to other critical emergencies, including a terrorist attack on an iconic hotel and a submarine fire at the naval dockyard. "I was assigned the task of building a flood rescue team within six months. I trained 160 personnel in swimming," he recalled. So, what has changed over two decades? Rahangdale said Mumbai Fire Brigade is now equipped with boats, kayaks and jet skis to tackle urban floods. Additionally, beach safety teams were created, leading to a significant reduction in fatalities.
Time of India
5 days ago
- Business
- Time of India
Rs 40 lakh loss pushes man to seek Rs 15,000 job: When big dreams go wrong in risk vs stability battle
Stories of people chasing their passion and building something of their own often dominate social media feeds. But behind the spotlight, there are also stories that serve as cautionary tales—stories where dreams cost more than expected, and where the return to stability feels like the only way forward. A recent post on Reddit offered one such perspective, recounting the real-life account of a man who lost Rs 40 lakh trying to build his business and is now ready to accept even a Rs 15,000 job to get back on his feet. A Chance Encounter at a Tapri The incident came to light when a Reddit user shared an experience during a casual tea break at a roadside stall. The tea vendor approached him with a request for help regarding a friend who had fallen on hard times. That friend turned out to be a former telesales employee who once earned Rs 26,000 a month with incentives. Hoping to do better, he had quit his job to start a mobile phone shop in a well-known locality. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Data Science Cybersecurity Finance others Data Science MCA Operations Management Artificial Intelligence Design Thinking Technology Public Policy Degree healthcare Leadership Data Analytics Others PGDM CXO Project Management Product Management MBA Management Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Backed by big dreams, he invested heavily—hiring staff, setting up a fully-equipped shop, and buying costly tools. But despite all efforts, the business failed to pick up. In two years, he had lost Rs 40 lakh, with no staff left and his savings wiped out. The only thing he now had to show for the effort was a résumé, which he handed over in hopes of landing any job, even if it paid just Rs 15,000–Rs 20,000. The Other Side of 'Follow Your Dreams' The Reddit user, who was taken aback by the story, decided to share it not to discourage ambition, but to highlight the risks that often go unspoken. While social media is filled with phrases like 'go big or go home,' stories of loss and financial ruin rarely find a voice. He emphasised that taking risks is not wrong, but going all-in without proper planning or backup can have lasting consequences. In his reflection, the Reddit user stressed that it's okay to move slowly, especially when one is the sole earning member of the family. He pointed out that if the man had limited his investment to Rs 5–6 lakh, there may have been room for recovery. But by putting everything into the venture, the margin for error disappeared.
Time of India
6 days ago
- Automotive
- Time of India
MG Cyberster launched at Rs 72.49 lakh: Check luxury EV's range, features and performance details here
MG Select, the luxury arm of JSW MG Motor India , on Friday launched Cyberster , the fastest car of the company yet at Rs 74.99 lakh for fresh booking and Rs 72.49 Lakh for Pre-Reserved bookings. The car reinterprets roadster silhouette for the electric era, Anurag Mehrotra, Managing Director, JSW MG Motor India , said, 'At MG SELECT, we aim at curating experiences that spark emotion, inspire desire, and lead the shift towards conscious mobility. The MG Cyberster is a powerful expression of that philosophy. It is a car that is engineered for performance and designed to be remembered. For many, roadsters were once daydreams. The Cyberster brings that dream to life, with the freedom of the open road and the conscience of an electric future'. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Product Management Artificial Intelligence Technology Data Analytics Project Management Management Leadership others Operations Management healthcare Data Science CXO MBA Data Science Public Policy Cybersecurity Degree MCA PGDM Finance Others Design Thinking Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details MG Cyberster features The car comes with electric scissor doors and soft-top roof. It has a drag coefficient of 0.269 Cd for aerodynamics. The front is defined by distinctive LED lighting, sharp DRLs, and a sculpted bonnet, while the rear tapers into a full-width LED light bar with integrated indicators. It employs 20-inch lightweight alloy wheels, paired with Pirelli P-Zero tyres. EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now The interiors feature driver-centric cockpit and is anchored by a triple-display interface with a central 10.25-inch touchscreen and two 7-inch digital panels for access to real-time vehicle data, entertainment, and settings. It is also equipped with dual-zone automatic climate control with PM2.5 filtration, along with steering-mounted paddle shifters for regenerative braking and drive modes, enhance the intelligent performance. Live Events Sustainable Dinamica suede vegan leather upholstery delivers a tactile, elevated feel, while a BOSE audio system with noise compensation ensures every drive is immersive and refined. The Cyberster is available in four expressive dual-tone exterior combinations, including Nuclear Yellow with Black Roo, Flare Red with Black Roof, Andes Grey with Red Roof and Modern Beige with Red Roof. MG Cyberster: Performance The Cyberster is driven by a dual-motor all-wheel-drive powertrain that delivers 510 PS and 725 Nm of torque. With Launch Control Mode engaged, it accelerates from 0 to 100 kmph in 3.2 seconds. The car comes with a 77 kWh ultra-thin battery pack, offers an MIDC certified range of 580 km and aids weight distribution and handling. The Cyberster features double wishbone suspension and a precise 50:50 weight distribution for razor-sharp handling and everyday comfort. Brembo 4-piston front brake callipers bring the vehicle to a stop from 100 kmph in 33 m. For safety, a high-strength H-shaped full cradle structure and Static Stability Factor (SSF) of 1.83 ensure rollover resistance. It also has Level 2 Advanced Driver Assistance Systems (ADAS), a real-time Driver Monitoring System, and a suite of features, including dual front and combination side airbags, electronic stability control, and electronic differential lock, work in concert to keep performance and protection seamlessly aligned.
