Rs 20,054 crore order book: This multibagger aerospace & defence company receives order worth Rs 290.90 crore from Indian Air Force!

Bharat Dynamics Limited (BDL) has signed a contract with the Indian Air Force (IAF) for the supply of surface-to-air missiles order worth Rs 290.90 crore. The consolidated order book position of BDL as of April 01, 2023, is worth Rs 20,054 crore including Rs 2,586 crore export orders. BDL is expected to get an additional Rs 25,000 crore in orders over the next 2 to 3 years due to its continuous efforts to win new business.

Additionally, the company announced a final dividend of Rs 1.2 per equity share having a face value of Rs 10 each. The dividend was ex-traded on Wednesday, September 20, 2023.

On Wednesday, shares of Bharat Dynamics Ltd plunged 1.31 per cent to Rs 1042 per share from its previous closing of Rs 1055.80 with an intraday high of Rs 1,087.6 and an intraday low of Rs 1,037.

Bharat Dynamics (BDL), is a Government of India Enterprise. It is engaged in the manufacturing of guided missiles and allied defence types of equipment.

According to the financials, this PSU company has a market cap of over Rs 19,000 crore. The company reported positive numbers in its Quarterly Results and annual results. The company is almost debt-free and has been maintaining a healthy dividend payout of 43.8 per cent.

The stock is up by 170 per cent in 2 years and over 230 per cent in just 3 years. Investors should keep an eye on this Mid-Cap multibagger stock.  

Disclaimer: The article is for informational purposes only and not investment advice.

Source: dsij. In

Birth certificate to be single document for Aadhaar, driving license, jobs from next month. Key points here

 Come October 1, Birth Certificate will be considered as single document for availing several crucial services including admission to an educational institution, issuance of a driving licence, preparation of voter list, Aadhaar number, registration of marriage, appointment to a government job etc.

Announcing the implementation of Registration of Births and Deaths (Amendment) Act, 2023, Union Ministry of Home Affairs said “it will help create database of registered births and deaths which eventually would ensure efficient and transparent delivery of public services and social benefits and digital registration."

"In exercise of the powers conferred by sub-section (2) of section 1 of the Registration of Births and Deaths (Amendment) Act, 2023 (20 of 2023), the Central Government hereby appoints the 1st day of October 2023, as the date on which the provisions of the said Act shall come into force," the notification said

Both the Houses of Parliament passed the Registration of Births and Deaths (Amendment) Bill, 2023, in the Monsoon Session concluded last month. The Rajya Sabha passed the the bill by voice vote on August 7 while the Lok Sabha has passed it on August 1.

Here are some key points: 

• The Act grants authority to the Registrar General of India to oversee a national registry of births and deaths. State-appointed Chief Registrars and Registrars will be obligated to contribute data to this national database, while Chief Registrars maintain similar databases at the state level.
• Earlier, there was a requirement for certain persons to report births and deaths to the Registrar.
• For example, the medical officer in charge of a hospital where a baby is born must report the birth. Moreover, the Aadhaar number of the parents and the informant need to be provided. The rule also applied to in case of case of births in a jail, a hotel or lodge. Herein, the jailor and the hotel manager need to provide all the relevant information. 
• Under the new Act, the list has been further expanded and will now included  adoptive parents for non-institutional adoption, biological parents for births through surrogacy, and the parent in case of birth of a child to a single parent or unwed mother.
• The new legislation allows sharing of the national database with authorized authorities like population registers, electoral rolls, and others, subject to central government approval. Similarly, state databases can be shared with state-approved authorities.
• As per the Act, any person aggrieved by any action or order of the Registrar or District Registrar may appeal to the District Registrar or Chief Registrar, respectively. Such an appeal must be made within 30 days from receipt of such action or order. The District Registrar or Chief Registrar must give their decision within 90 days from the date of appeal.

Source: Mint

Student Fare Discounts on Domestic Flights

Student Fare Discounts with Domestic Flights - If you are a student in any educational institution in India, enjoy good discounts on domestic flights. Travel anywhere in India and find the cheapest deals on flights with student discounts at leading online travel portals. 

 

Domestic airlines with student discounts

Air India, GoAir, IndiGo and Vistara are among the major domestic airlines offering student discount on flights. In addition, students can enjoy certain privileges on baggage allowances across some of the aforementioned airlines.

• GoAir

On a GoAir domestic flight, the student fare amounts to a 15% discount on base fare. A student also is allowed to carry 25 kg of baggage on any flight with this airline.

 

• IndiGo

IndiGo offers flights with student discounts up to 6% of the base fares. Along with the standard baggage allowance, a student gets to carry an additional weight of 10 kg. However, this discount option is available only for bookings made until 31st March, 2021.

 

• Vistara

A student booking a Vistara domestic flight under Economy Class and Economy Flexi will get a discount of 10% of the base fares. If a student opts for Economy Lite, s/he will be able to avail a 5% discount. The baggage allowance will remain free based on the class chosen.

 

• SpiceJet

SpiceJet allows a student discount of 6% on all domestic flights. Additionally, the student will also be able to carry 25 kg of baggage.

 

• Air India

Air India offers a 50% discount on the base fare of an Economy Class cabin.

 

What documents should students provide to avail student discounts on flights?

 

To avail student discounts on all domestic flights, students who are 12 years and above, need to provide a valid ID card issued by the school or university while checking in at the airport.

 

When should student book a ticket with respective airlines?

 

A student has to book an Air India flight ticket 3 days before departure to enjoy. On the other hand, to avail the student discount on a flight with Vistara, the student has to book a ticket 7 days beforehand.

 

Does the student discount apply for one-way and round trip bookings?

 

For GoAir, IndiGo and SpiceJet domestic flights, the student discount is applicable for both one-way and round trip flights.

Bloomberg Ranks The Best European Business Schools For 2023

Bloomberg Businessweek named SDA Bocconi School of Management the best business school in Europe in its 2023 MBA ranking.

The Italian school climbed two places to secure the top spot after ranking in third place in the 2021-2022 ranking.

Spain’s IESE Business School followed close behind, holding last year’s second-place position. Third place was taken by last year’s top-ranking institution, IMD Business School, with INSEAD and London Business School taking fourth and fifth place respectively.

According to Bloomberg, IE Business School, Mannheim Business School, the University of St. Gallen, Cambridge Judge, and Oxford Said complete the top 10 best business schools in Europe.

While the UK is the best-represented country in the top 10 with three schools represented, Spain dominates the overall ranking.

Bloomberg ranks a total of six Spanish business schools in the top 20, with ESIC Business and Marketing School in Barcelona leaping from 23rd position in last year’s list to 14th place in 2023.

Mannheim Business School in Germany is another big climber, jumping from 16th in 2022 to 7th this year. The University of St. Gallen also climbed from 13th in last year’s ranking to reach 8th place in 2023.

Bloomberg Ranking methodology

Bloomberg uses four indexes to rank business schools: Compensation, Learning, Networking, and Entrepreneurship. There is also an additional index of Diversity, but this is only used to assess US schools.

To generate the weightings for each index, Bloomberg surveys students, alumni, and employers to determine which factors are the most important to them.

In the 2023 rankings, the compensation index was weighted highest for schools in Europe, Asia, and Canada, at 37.1%. This index is calculated using a combination of survey results and compensation data to reflect both its importance to students and alumni and the real impact of education on compensation.

Learning was given the next-highest weighting, at 25.4%, followed by networking (23.9%), and finally entrepreneurship (13.6%).

Finally, stakeholder groups are surveyed about how schools perform in relation to each index. For example, alumni are asked whether their school took entrepreneurship seriously and rank the quality of their entrepreneurial training; recruiters rate schools based on whether their graduates show exceptional entrepreneurial thinking.

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Bloomberg vs Financial Times 

Bloomberg’s ranking differs significantly from the Financial Times European Business School Rankings 2022.

Where HEC Paris takes the top spot in the Financial Times’ ranking, it doesn’t feature on Bloomberg’s list; the same is true for ESCP Business School, which is ranked third by the FT.

In fact, the only schools to appear in both top five lists are SDA Bocconi (ranked top by Bloomberg, fourth by the FT) and London Business School (ranked fifth by Bloomberg; second by the FT). IMD Business School is ranked in 11th place in the Financial Times’ ranking and INSEAD is ranked 15th.

These differences are likely a result of the two outlets’ differing methodologies. Bloomberg’s ranking focuses solely on MBA programs, whereas the Financial Times takes the overall scores each school achieved in every degree ranking it features in. These might include MBA, EMBA, and Master in Management rankings.

The Financial Times also places more emphasis on the quality and breadth of the programs offered at each school, while learning is only given 25% weighting in Bloomberg’s list.

Finally, the FT’s ranking uses the average salary increase after business school as a separate metric to the average salary. This makes a difference because it makes it clearer which schools helped their students achieve promotions and raises, whereas high average salaries could be accounted for by graduates earning high wages before their MBA.

These differences demonstrate why it is important not to rely on just one ranking to get a picture of a business school. Compare different rankings and determine which factors are most important to you when shopping for a degree in order to make the right choice of school.

Source: Business Because

Goldman Sachs in India

Goldman Sachs has been serving clients in India since the 1980s and established an onshore presence in Bengaluru, in 2004, Mumbai, India in December 2006 and a new office in Hyderabad opened in 2021 following a ten-year joint venture. 

Today, Goldman employs 9000+ Indians and serves leading corporate and institutional clients through corporate finance advisory, equity sales and trading, and fixed-income securities businesses, as well as providing macro-economic and investment research. 

With investments totaling more than USD 7 billion since 2006, Goldman Sachs is a significant investor in Indian companies.

List of Stocks Held by Goldman Sachs

Annual Jackson Hole Symposium

 The Federal Reserve Bank of Kansas City’s Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world. The event brings together economists, financial market participants, academics, U.S. government representatives, and news media to discuss long-term policy issues of mutual concern. 

The 2023 Economic Policy Symposium. “Structural Shifts in the Global Economy,” will be held Aug. 24-26.

To foster the open discussion that the symposium is known for, attendees are selected based on each year’s topic with consideration for diversity in region, background, and industry. In a typical year, about 120 people attend consisting of the following groups.

A key feature of the event is the thoughtful discussion that takes place among the participants. Given the participants and the topics being discussed, there is substantial interest in the symposium. However, to help foster the open discussion that has been so critical to the symposium’s success, attendance at the event is limited.

Similarly, although the Bank receives numerous requests from media outlets worldwide, press attendance is also limited to a group that is selected to provide important transparency to the symposium, but yet not overwhelm or influence the proceedings. All symposium participants, including members of the press, pay a fee to attend. The fees are then used to recover event expenses.

The 2023 event marks the 46th year of the annual forum.

The Federal Reserve Bank of Kansas City will convene its annual Economic Policy Symposium, Aug. 24-26 in Jackson Hole, Wyoming. The 2023 event, which marks the symposium’s 46th year, will focus on the theme "Structural Shifts in the Global Economy."

This year’s theme will explore several significant, and potentially long-lasting, developments affecting the global economy. While the immediate disruption of the pandemic is fading, there likely will be long-lasting aftereffects for how economies are structured, both domestically and globally, as trade networks shift, and global financial flows react. Similarly, the policy response to the pandemic and its aftermath could have persistent effects as economies adjust to rapid shifts in the stance of monetary policy and a substantial increase in sovereign debt. Papers will share how these developments are likely to affect the context for growth and monetary policy in the coming decade.

The full agenda will be available at External Linkkansascityfed.org on Thursday, Aug. 24 at 8 p.m. ET/6 p.m. MT. Federal Reserve Chair Jerome Powell’s remarks will be streamed on the Kansas City Fed’s YouTube channel, External Linkyoutube.com/kansascityfed on Friday, Aug. 25 at 10:05 a.m. ET/8:05 a.m. MT. Papers and other materials will be posted on the Kansas City Fed’s website as they are presented during the event.

Since 1978, the Federal Reserve Bank of Kansas City has sponsored a symposium on an important economic issue facing the U.S. and world economies. Beginning in 1982, the symposium has been hosted at the Jackson Lake Lodge at Grand Teton National Park, which is located in Wyoming—one of the seven states served by the Tenth Federal Reserve District.

Each year, the event provides a venue for international central bankers, Federal Reserve officials, other policymakers and academics to discuss issues of mutual concern. Visit External Linkkansascityfed.org to read more about the symposium's External Linkdecades-long history.

As the regional headquarters of the nation’s central bank, the Kansas City Fed and its branch offices in Denver, Oklahoma City and Omaha serve the seven states of the Tenth District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.

Monetary policy 2023-24

Who decides CRR and SLR in India?
The Reserve Bank of India

The Reserve Bank of India is authorised to make monetary policy under the Reserve Bank of India Act, 1934 and can set the cash reserve ratio between 3% and 15%

What is the upcoming RBI policy 2023?

In the April 2023 policy, the RBI had paused its rate hike cycle after raising the key lending rate for six consecutive times since May 2022. The RBI retained the real GDP growth projection at 6.5 per cent for FY2024 but cut the inflation projection marginally from 5.2 per cent to 5.1 per cent for the current fiscal. 

What is the monetary policy in June 2023?

In June 2023, the Monetary Policy Committee decided to keep the benchmark repo rate unchanged for the second time in a row, amid easing inflation and steady GDP growth in the Indian economy. RBI Governor Shaktikanta Das, however, was ready to act should the situation so warrant.

How many times MPC is conducted in a year?
The MPC is required to meet at least four times in a year. The quorum for the meeting of the MPC is four members.

What is the date of monetary policy in June 2023?
The Monetary Policy Committee (MPC) met on 6th, 7th and 8th June 2023. Based on an assessment of the macroeconomic situation and the outlook, the MPC decided unanimously to keep the policy repo rate unchanged at 6.50 per cent.

How many times RBI announces monetary policy in a year?
The Reserve Bank of India (RBI) has announced that its rate-setting panel, the Monetary Policy Committee (MPC), will meet six times in the next financial year (FY24). The first meeting of the MPC is scheduled to take place from April 3-6, followed by meetings in June, August, October, December, and February 2024.

How many members are there in a Monetary Policy Committee?
There are six members in the RBI's Monetary Policy Committee (MPC) of which three are from RBI and three are appointed by the Central government. The Members of the Monetary Policy Committee appointed by the Central Government shall hold office for a period of four years.

Who are the members of the monetary policy in 2023?
All members of the MPC, including Dr. Shashanka Bhide, Dr. Ashima Goyal, Jayanth R. Varma, Rajiv Ranjan, Michael Debabrata Patra, and Shaktikanta Das, unanimously voted to keep the policy repo rate unchanged at 6.5% for the second time.

Who are the 4 deputy governors of RBI?
One post of Deputy Governor is reserved for a commercial banker out of the four Reserve Bank of India Deputy Governors for which SBI MD Swaminathan Jankiraman has been appointed. The other three deputy governors are Michael Debabrata Patra, M Rajeshwar Rao and T Rabi Sankar

Who was the first female governor of RBI?
RBI has never had a female Governor. The Reserve Bank of India has not had a female Governor ever since it was formed on April 1, 1935. However, the apex bank had three female Deputy Governors, KJ Udeshi being the first appointed in 2003.

Who is the first woman Deputy Governor of RBI?
KJ Udeshi

KJ Udeshi is the first woman to hold the position of Deputy Governor in the Reserve Bank of India (RBI).