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Prime Minister Narendra Modi on the auspicious occasion of Diwali extended wishes to the people of the country and expressed hope that the festival will further the spirit of joy and well-being amongst the people of India.

"Wishing everyone a Happy Diwali. Diwali is associated with brightness and radiance. May this auspicious festival further the spirit of joy and well-being in our lives. I hope you have a wonderful Diwali with family and friends," he tweeted on Monday morning.

<blockquote class="twitter-tweet">
Wishing everyone a Happy Diwali. Diwali is associated with brightness and radiance. May this auspicious festival further the spirit of joy and well-being in our lives. I hope you have a wonderful Diwali with family and friends.
— Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/1584352549867778048?ref_src=twsrc%5Etfw">October 24, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Earlier on Sunday, PM Modi visited Ayodhya and performed darshan and pooja of Lord Rama. He also inaugurated the 'Deepotsav' celebrations, where a new Guinness World Record for the 'largest display of oil lamps' was set when more than 15.76 lakh earthen lamps were lit at the 'Ram ki Paidi' to celebrate the homecoming of Lord Rama.

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Uttar Pradesh: Prime Minister Narendra Modi witnesses sound and laser show in Ayodhya 
 
(Source: DD) <a href="https://t.co/eL0gg82JiV">pic.twitter.com/eL0gg82JiV</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1584185984412811264?ref_src=twsrc%5Etfw">October 23, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Meanwhile, President Droupadi Murmu has greeted citizens on Diwali and said the festival is also an occasion to further strengthen the spirit of mutual cooperation and harmony, the Rashtrapati Bhavan said on Sunday.

"Diwali is a festival of happiness and joy. On the day of Diwali, people worship Goddess Lakshmi in their homes and pray for everyone's happiness and prosperity," she said.

The festival of Diwali is also an occasion to further strengthen the spirit of mutual cooperation and harmony, the president said.

The light of Diwali symbolizes the knowledge that dispels all the darkness of our inner and outer ignorance, she said in her message on the eve of Diwali.

"On the auspicious occasion of Diwali, I extend my warm greetings and best wishes to all the fellow citizens living in India and abroad," Murmu said.

May energy and light spread in our lives like a Diya, she said.

"May the spirit of helping the underprivileged grow deep in the minds of people and let us all continue our tradition of 'Subh' and 'Labh'," the statement quoting the president said. 
With PTI Inputs

Diwali 2022:&nbsp;PM Modi visited Ayodhya and performed darshan and pooja of Lord Rama


Diwali 2022: Festival of brightness and radiance, says PM Modi as he extends wishes

New Delhi: Air cooler and appliances maker Symphony Ltd on Thursday reported a 6.66 per cent increase in its consolidated net profit to Rs 32 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 30 crore in the July-September quarter a year ago, Symphony said in a BSE filing.

Its revenue from operations rose 25.76 per cent to Rs 288 crore during the quarter under review against Rs 229 crore in the year-ago period.

Symphony's revenue from the Indian market was Rs 190 crore, while the global markets contributed Rs 84 crore.

Symphony Executive Director Nrupesh Shah said the company has a "robust off-season collection, in line with the pre-Covid period" and positive trade sentiment.

"Q2 FY23 recorded the highest ever second quarter Standalone and Consolidated sales, up by 10 per cent and 1 per cent, respectively, vis-a-vis previous historical high," he said.

Symphony's total expenses rose 29.62 per cent to Rs 245 crore in Q2/FY23 from Rs 189 crore earlier.

In a separate filing, Symphony said its board on Tuesday recommended a final dividend of 100 per cent, which is Rs 2 per equity share having a face value of Rs 2, for the financial year 2022-23.

The said interim dividend shall be payable to the shareholders on or before November 18, according to the filing.

Shares of Symphony Ltd on Thursday afternoon were trading at Rs 884.95 apiece on BSE, up 2.71 per cent from the previous close.

With PTI Inputs

Symphony Ltd&nbsp;has&nbsp;posted a net profit of Rs 30 crore in the July-September quarter a year ago


Symphony Dividend 2022 announced: Check amount and payment date

Nestle India Q3 Results: FMCG major Nestle India on Wednesday said that its September quarter profit increased 8.3 per cent YoY to Rs 668 crore, beating the estimates. The quarterly revenue increased 18.3 per cent YoY to Rs 4,591 crore, according to an exchange filing by the company.

The company recorded total sales of Rs 4,567 crore in Q3 of the current fiscal -- highest sales growth during a quarter in the last five years, according to the company. The total sales growth stood at 18.2 per cent. The company's domestic sales grew at 18.3 per cent in the quarter.

Suresh Narayanan, chairman and MD, Nestle India, said that the company has witnessed the highest sales growth during a quarter in the last five years.

"This achievement has been on continued strong volume and mix evolution with broad based double-digit growth across all categories. Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes including rural markets," he said.

Financial Highlights Q3 2022: 
Total Sales of INR 4,567 Crore

Total Sales Growth at 18.2%. Domestic Sales Growth at 18.3%.

Profit from Operations at 20.3% of Sales

Net Profit of Rs 668 Crore

Earnings Per Share of Rs 69.3

Nestle Dividend 2022 
Meanwhile, the company has declared second interim dividend for 2022 of Rs 120 per equity share (face value Rs 10 per equity share) amounting to Rs 1157 crore, which will be paid on and from November 16.

This is in addition to the first interim dividend of Rs 25.00 per equity share paid on May 6.

At 11:55 AM, Nestle India share price was up by around 1.50 per cent at Rs 19669 apiece on NSE.

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Nestle India Q3 Results: FMCG major Nestle India recorded highest sales growth during a quarter in the last five years


Nestle India Q3 Results: Net profit rises 8%; highest sales growth in 5 years - key highlights

Piramal Pharma Share Listing, Piramal Pharma Listing Price, Piramal Pharma Share Price NSE:&nbsp;Piramal Pharma Limited, which recently demerged from Piramal Enterprises Limited, will list its shares on stock exchanges -- BSE and NSE, today. Earlier in August, Piramal Enterprises Limited at its board meeting had approved the demerger of its pharma business via a composite scheme of the arrangement.

"Trading Members of the exchange are hereby informed that effective from October 19, 2022, the equity shares of Piramal Pharma Limited shall be listed and admitted to dealings on the exchange in the list of T Group of Securities,” according to a notice issued by the BSE.

&nbsp;

<h2>Piramal Pharma Expected Listing Price</h2>

&nbsp;&nbsp;

According to Zee Business analyst Nupur, Piramal Pharma share listing price could be around 200-250.&nbsp;

Zee Business panellist Vijay Chopra, the demerger is good news and that the company will be able to focus on its strength. In the long run, he said that the demerger would be neficial. On Piramal&nbsp;Enterprises share price, he said that&nbsp;the stock has not participated in the market rally and suggested avoiding a stop loss at Rs 800.&nbsp;

On Piramal Pharma share, Chopra said that he is bullish on the pharma sector and exuded confidence that it will outperform in the coming 6 months.

&nbsp;

<h2>Piramal Pharma Shares Listing Details&nbsp;</h2>

&nbsp;

Piramal Pharma shares would be listed at a fully paid face value of Rs 10 each. The shares will be admitted to dealings on the exchange in the list of T Group of securities.

Piramal Pharma last week had received approval from the Securities and Exchange Board of India (Sebi) to list shares on domestic stock exchanges.

&nbsp;

<h2>Piramal Enterprises Demerger News</h2>

&nbsp;

Piramal Pharma, consequent to the approval granted by the National Company Law Tribunal (NCLT), has been demerged from Piramal Enterprises Ltd (PEL) as a part of the simplification of the corporate structure.

&nbsp;

<h2>Piramal Enterprises Demerger Ratio</h2>

&nbsp;

According to Piramal Enterprises, the company will issue 4 equity shares of Rs 10 each of Piramal Pharma for every 1 equity share of Rs 2 each to shareholders of Piramal Enterprises Limited.&nbsp;&nbsp;

Piramal Enterprises Limited will have financial services business, including retail and wholesale lending while Piramal Pharma will have pharma and CDMO business.

Shares of Piramal Enterprises closed around 2.50 per cent higher at Rs 823 on Tuesday, October 16 on NSE.&nbsp;

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Piramal Pharma Share Price, Piramal Pharma Listing Price: Piramal Pharma listing date is today. Piramal Pharma expected listing price is Rs 200-250.&nbsp;Piramal Enterprises demerger ratio was announced by the company earlier. Piramal Enterprises&nbsp;share price closed 2.50 per cent higher on Tuesday at Rs 823.&nbsp;


Piramal Pharma shares to list on NSE, BSE today after demerger: Check expected listing price

Electronics Mart IPO Listing Gains, Electronics Mart&nbsp;Share Price NSE&nbsp;BSE, Electronics Mart Stop Loss: Electronics Mart India, NSE: EMIL, made a strong debut on Dalal Street on Monday, October 17. Electronics Mart share price on NSE listed at Rs 90 apiece, a 52.54 per cent premium over its issue price of Rs 59. On BSE, the stock made a debut at a premium of 50.59 per cent. Electronics Mart India is a consumer durables retail chain. Its IPO had received an overwhelming response from investors. Electronics Mart IPO was subscribed 71.93 times. The IPO received bids for 449.53 crore shares against 6.25 crore shares.&nbsp;

<h2>Electronics Mart IPO Listing, Electronics Mart Share Listing Price NSE BSE&nbsp;</h2>

Electronics Mart IPO Listing Gains: Electronics Mart shares made a strong market debut, climbing nearly 53 per cent against the issue price of Rs 59.


Electronics Mart IPO: Bumper listing gains! Share price jumps over 50%

HCL Tech Share Price Dividend 2022, HCL Share Dividend Ex Date 2022, HCL Share Dividend Record Date, Payout Date, Payment Date: HCL Technologies Limited, NSE: HCLTECH, will pay a whopping 500 per cent dividend to its shareholders. The bluechip IT company made the announcement about dividend payment while releasing its second quarter result. HCL Tech is the country's third largest IT company. The Noida headquartered company through an exchange filing informed the record date for the dividend payment and the dividend payment date. This is the third interim dividend announced by HCL Tech this year.&nbsp;

&nbsp;

<h2>HCL Dividend Amount 2022</h2>

&nbsp;

HCL Tech will pay a Rs 10 dividend per equity share to its shareholders. The face value of each share of HCL Tech is Rs 2. The dividend amount of Rs 10 translates into 500 per cent.

"The Board of Directors has declared an Interim Dividend of Rs. 10/- per equity share of Rs 2 each of the company for the Financial Year 2022-23," HCL Tech said in a filing.

&nbsp;

<h2>HCL Dividend Ex-Date 2022&nbsp;</h2>

&nbsp;

The ex-dividend date is usually one business day before the record date. HCL Tech shares will trade ex-date one day before the record date. HCL Tech ex-dividend date is October 19.

&nbsp;

<h2>What Is Ex-Dividend Date</h2>

&nbsp;

If a person buys a stock or share on the ex-dividend date or after, he/she will not be eligible for receiving the benefits of the dividend. To receive a dividend, one must buy stock(s) before the ex-dividend date.

&nbsp;

<h2>HCL Dividend 2022 Record Date&nbsp;</h2>

&nbsp;

HCL Tech has fixed the record date for determining the eligibility of the shareholders who will receive a Rs 10 interim dividend. It means that those having HCL Tech shares in their Demat account on the record date will receive the dividend amount.

"The record date of October 20, 2022, fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors," the IT company said.

&nbsp;

<h2>HCL Dividend Payment, Payout Date 2022</h2>

&nbsp;

According to HCL Tech, the dividend will be paid to the shareholders in the month of November. "The Payment date of the said interim dividend shall be November 2, 2022," HCL Tech said.

HCL Tech share dividend amount will be credited directly into the bank accounts of the shareholders.

&nbsp;

<h2>HCL Dividend History&nbsp;</h2>

&nbsp;

This is the third interim dividend announced by HCL Tech this year. Before this, HCL had paid an interim dividend of Rs 10 in July and Rs 18 in April.&nbsp;

In the last Financial Year -2021-22, the company paid dividends on four occasions. This included four interim dividends and one special dividend. The interim dividends were paid as -- Rs 6 in April;&nbsp; Rs 6 in July; Rs 10 in October and Rs 10 in January. HC Tech special dividend of Rs 10 was paid to the shareholders in April.&nbsp;&nbsp;

HCL Tech dividend yield is 4.78 per cent.

&nbsp;

<h2>HCL Share Price History&nbsp;</h2>

&nbsp;

HCL Tech is a blue-chip IT company. HCL Tech stock has jumped over 5 per cent in the last five trading sessions (October 10 to 14). In 2022 so far, HCL Tech share price has delivered a negative return of around 25 per cent to its investors. The stock is currently available at a discount of around 23 per cent from its 52-week high of Rs Rs 1359.40 on the NSE. The 52-week low is Rs 877.35.

&nbsp;

<h2>HCL Tech Q2FY23 Result</h2>

&nbsp;

In the July-August quarter of FY23,&nbsp; HCL Tech reported a 7.05 per cent YoY increase in its consolidated net profit to Rs 3,489 crore. The company’s revenue jumped 19.51 per cent during Q2FY23 to Rs 24,686 crore from Rs 20,655 crore a year ago. HCL Tech’s net profit had stood at Rs 3,259 crore in the corresponding period a year ago.

&nbsp;

<h2>HCL Share Price Target NSE, BSE</h2>

&nbsp;

Brokerage firm Morgan Stanley has set a new target for HCL Tech share price after the company reported better-than-expected results in the second quarter. It has set a new target of Rs 1100.

ALSO READ: <a href="https://www.zeebiz.com/market-news/news-itc-share-price-should-you-buy-brokerages-recommend-this-check-targets-here-203206" target="_blank">BUY ITC Share: Check price targets by brokerages | ITC Q2 Results Date</a>

&nbsp;

HCL Tech Share Price Dividend 2022, HCL Share Dividend Ex Date, Record Date, Payout Date, Payment Date: HCL Tech will pay third interim dividend of the year to its shareholders. HCL Tech share dividend amount is Rs 10per share. HCL share price target NSE, according to Morgan Stanley, is&nbsp;Rs 1100.


Dividend Stock: 500%! Ex-date - This Bluechip IT company fixes record date 2022, payment date | HCL Tech Share Price target

Sanjiv Bhasin On Zee Business, NIFTY 50 CHART:&nbsp;Stock market on Friday, October 15, showed an uptick, in-line with the surprise bounce in the US stock market or Wall Street despite higher-than-expected inflation data. Nifty showed a decent up move and closed the day higher by 171 points or 1.01 per cent at 17,185.70 on Friday. The 30-share BSE Sensex ratcheted up 1,200 points intraday and finally settled with gains of 684.64 points or 1.20 per cent at 57,919.97. The rally was boosted by heavy buying in Infosys due to the robust second quarter earnings, banking and finance stocks.

The Friday rally could be a cheering factor for bulls to make a comeback from the lows in the coming days. On the daily chart, a long negative candle was formed with a gap-up opening which is an indication of a breakout. On the weekly chart, a positive candle with upper and lower shadows has been formed which is an indication of high volatility. Notably, Nifty after opening with a huge upside gap of 305 points attempted to move higher but failed to sustain the rally and corrected from 17347.

<h2>NIFTY 50 CHART CANDLE NSE</h2>

&nbsp;

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So where is now NIFTY placed and will it touch the psychological level of 18,000 around Diwali?

<h2>Sanjiv Bhasin View On NIFTY</h2>

&nbsp;

According to <a href="https://www.zeebiz.com/topics/sanjiv-bhasin" target="_blank">Sanjiv Bhasin</a>, Director of IIFL Securities and veteran market expert, the US Dollar is seeming to be topping out. When there is a weakness in the Dollar, the emerging market will perform well. He said the dollar index, which gauges the greenback's strength against a basket of currencies, can go easily to 107-108 in the next 2 months which means that emerging markets will outperform.

"On Diwali, we will sound the bugle of 18000," he said during a special edition 'Bhasin Ke Hasin' aired on Zee Business channel with Managing Editor Anil Ainshvi on Friday.

<h2>Sanjiv Bhasin Video Zee Business News</h2>

&nbsp;

<blockquote class="twitter-tweet">
'Bhasin Ke Haseen Shares' 
 
जानिए IIFL सिक्योरिटीज के <a href="https://twitter.com/hashtag/Sanjivbhasin?src=hash&amp;ref_src=twsrc%5Etfw">#Sanjivbhasin</a> का आज बाजार पर क्या है आउटलुक? 
 
संजीव भसीन ने आज Mphasis और GMR Fut में क्यों दी निवेश की सलाह?<a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://twitter.com/sanjiv_bhasin?ref_src=twsrc%5Etfw">@sanjiv_bhasin</a> 
 
<a href="https://twitter.com/hashtag/ZeeBusiness?src=hash&amp;ref_src=twsrc%5Etfw">#ZeeBusiness</a> LIVE&nbsp;<a href="https://t.co/JMRokZdKXf">https://t.co/JMRokZdKXf</a> <a href="https://t.co/KOZNdsajps">pic.twitter.com/KOZNdsajps</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1580775906335133696?ref_src=twsrc%5Etfw">October 14, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;

Vinod Nair, head of research, Geojit Financial Services, said that the rally in the domestic market will likely continue in the short-term, led by festival demand and second quarter results. He said that buying at a dip is the best strategy in this scenario with a focus on domestic economy-oriented stocks and sectors. The sectors which are expected to outperform are IT, pharma, FMCG, durables, green initiatives, specialty chemicals and mass manufacturers with value buying as the theme.

The last time when Nifty 50 reclaimed 18000 was on September 15 (18096.15) but it didn't hold and reversed sharply to close below 17900. The index closed above 18000 on two occasions in the month -- September 13 at 18070.05 and September 14 at 18003.75.&nbsp;

[[{"fid":"205620","view_mode":"default","type":"media","link_text":null,"attributes":{"alt":"NIFTY50 Chart October ","title":"NIFTY50 Chart October ","height":477,"width":850,"class":"media-element file-default"}}]]

The psychologically crucial 18000-mark was achieved in September after 111 trading sessions.

ALSO READ: <a href="https://www.zeebiz.com/market-news/news-itc-share-price-should-you-buy-brokerages-recommend-this-check-targets-here-203206" target="_blank">BUY ITC Share: Check price targets by brokerages | ITC Q2 Results Date</a>

Sanjiv Bhasin On Zee Business, NIFTY 50 CHART: Sanjiv Bhasin's view on Nifty is that the benchmark index could reclaim the 18000 mark around Diwali. He added that&nbsp;emerging markets will outperform with the weakness in the US Dollar Index.


NIFTY at 18000? Sanjiv Bhasin makes BIG statement on stock market movement around Diwali - VIDEO

Credit Card EMI Process, Charges: Credit cards are a valuable tool if used wisely. With festivals around the corner, credit cards offer the liberty to buy products and make payments later in installments/EMIs. When you convert the amount into EMI, you pay the outstanding money in installments every month just like a loan repayment. Credit card service providers offer a flexible tenor of 3 to 36 months for repayment.&nbsp;

Although EMI on a credit card can be useful and convenient, there are a few points that you should keep in mind while opting for EMI:

1. Processing Fee: Credit card EMI schemes are subject to a processing fee. It is suggested to check the fee with the card service provider before opting for conversion.

2. Interest Rate: Apart from the processing fee, your credit card service provider will also charge interest on the amount that is to be converted in EMI. Many e-commerce platforms also offer zero cost EMI wherein you don't have to pay any additional/extra amount.

3. Credit Balance: Always check the available credit in the card before payment or converting your transaction in EMI. In case there is no enough credit available, the EMI request can be rejected.&nbsp;

4. Amount Blocked: If you are converting a transaction in EMI, then the outstanding amount will be blocked by the card company. As you pay EMIs, the blocked amount will be released and added to your credit balance. This way, the total credit balance will start increasing.

5. Foreclosure Charge: In case you want to foreclose, then a charge + GST will be levied.

6. Missed Payment: In case of a missed payment, you will be charged late fees and other charges. Also, additional interest will be charged. You must note that missing payments could affect your credit score.

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Credit Card EMI Process, Charges: Although EMI on a credit card can be useful and convenient, there are a few points that you should keep in mind while opting for EMI.


Credit Card EMI: How it works and key things you should know - 6 points 

Indian IT stocks are reeling under tremendous pressure for the last quarter. Most Indian IT companies' share prices that cater to clients worldwide have fallen up to 45 per cent this year. Stocks of heavyweights like TCS, Infosys, Wipro have cracked 20 to 45 per cent so far.&nbsp;

The pressure in the stock price of these IT giants is mainly on account of the heightened recession fear in the major economies like the United States and Europe due to steep rate hikes, constraints in the supply chain and other issues. IT companies are basically major cash generating firms but the rising cost of capital has also shaved off their valuations by more than 30 per cent.

The Nifty IT index is currently at 27,067 - down by more than 30 per cent from 52-week high of 39,446.70.

TCS, the largest IT service provider in the country, is available at a discount of nearly 30 per cent from its 52-week high of Rs 4043 on January 17 this year. TCS share price on Wednesday, September 28, gained 0.36 per cent to settle at Rs 3,028.35 on the NSE.&nbsp;The stock made a fresh low of Rs 2926.10 on Monday, September 26.

Likewise, Bengaluru-headquartered Infosys, the second largest IT company, share price has tanked around 28 per cent from its 52-week high of Rs 1953.90 on January 17. It made a fresh 52-week low of Rs 1,355 on Monday, September 26.

Wipro too is facing the heat as it is trading near its 52-week low of Rs 384.60. The counter had made 52-week high of Rs 739.85 on October 14.

Even as the stocks of these companies are under pressure, experts are bullish on the sector's growth. Market expert and IIFL Securities Director Sanjiv Bhasin had last week in a special segment ‘Bhasin Ke Hasin Share' aired on Zee Business said that he is extremely positive about the outlook for the IT sector.&nbsp;

According to HDFC Securities, the price targets for the top 3 Indian IT stocks -- TCS, Infosys and Wipro would be:

<h2>TCS Share Price Target - Rs 3620&nbsp;</h2>

&nbsp;

<h2>Infosys Share Price Target - Rs 1800</h2>

<h2>&nbsp;</h2>

<h2>Wipro Share Price Target - Rs 475&nbsp;</h2>

&nbsp;

IT companies derive a thick portion of their revenues from foreign markets. In the given world scenario when the American dollar is gaining strength, it is natural for companies to report healthy numbers as they deal in dollars. However, the rising uncertainty in the global markets due to geo-political disruptions like Russia-Ukraine war, skyrocketing inflation, high energy prices, unpredictable volatility and other factors are adversely impacting their operations.

The rupee depreciation can surely provide a tailwind but cross currency losses are eroding the benefits. Also, the rising attrition rate is affecting the businesses of IT companies. Even as the hiring spree has cheered tech professionals, the companies are worried because of the unprecedented levels of attrition, rising manpower costs and issues such as moonlighting.

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(Disclaimer: Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Indian IT stocks: Shares of TCS, Infosys, Wipro are available at a discount of 20 to 45 per cent. Indian IT stocks are under&nbsp;tremendous pressure due to&nbsp;heightened recession fear in the US.


IT stocks news: TCS, Infosys, Wipro available near 52-week low, should you BUY? Check share price TARGETS

Suzlon Energy Rights Issue 2022, Suzlon Energy Share Price: Suzlon Energy share price on Monday crashed by more than 5 per cent to Rs 8.60 apiece on the NSE. The pressure was seen amid a heavy sell-off in the markets due to factors like negative global cues, RBI's upcoming monetary policy decision, Rupee weakness and more. During intraday trade, it crashed more than 7 per cent to touch the day's low of Rs 8.15.

Suzlon Energy share price slumped after the company announced that its board has approved a rights issue of 240 crore shares. On Sunday, the company's board had approved raising Rs 1,200 crore via a rights issue.

The company will raise funds through the issuance of 240 crore shares with a face value of Rs 2 each at an issue price of Rs 5 per share, the company said in a regulatory filing. The number of outstanding equity shares will increase from 1007,30,87,083 to 1247,30,87,083 after the issue (assuming full subscription).

Five rights equity shares will be issued for every 21 fully paid-up equity shares held by the eligible shareholders of the company. If the shareholding of any of the eligible equity shareholders is five or more, such shareholders will be entitled to at least one equity share, it added.

&nbsp;

<h2>What Is Rights Issue?</h2>

&nbsp;

Rights issue is one of the corporate actions. The purpose of rights issue is to raise capital from existing shareholders. When a company announces rights issue, it offers shares at a special price to its existing shareholders in proportion to their holding, thus more shares are issued to the market.&nbsp;

The company invites existing shareholders to purchase new shares at a discount. This type of issue gives existing shareholders securities called rights.&nbsp;

It is generally observed that when a company announces rights issue, the share price is diluted and goes down.

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Suzlon Energy Rights Issue 2022, Suzlon Energy Share Price: Suzlon Energy rights issue has been&nbsp;approved for 240 crore shares. The company aims to raise Rs 1,200 crore via a rights issue.


Suzlon Energy share price crashes 5% after rights issue announcement - check price, ratio

LIC Housing Finance home loan interest rate: LIC Housing Finance has increased its prime lending rate on home loans by 50 basis points. With this, the new interest rates on home loans will now start from 8 per cent. Earlier, it was 7.50 per cent.

According to the LIC Housing website, home loan interest rate for up to Rs 15 crore for salaried and professionals, having Cibil score above 800, will be 8 per cent.

For those having Cibil score between 750 and 799, home loan interest rate will be 8.05 per cent for up to Rs 5 crore. For those borrowing home loan more than Rs 5 crore and less than Rs 15 crore, LIC Housing Finance will charge then 8.40 interest.&nbsp;

For Cibil Score between 700 -749, home loan interest rate offered by LIC Housing Finance is 8.20 per cent up to Rs 50 lakhs, 8.40 per cent for loan more than Rs 50 lakhs and up to Rs 2 crore. The company will offer home loan for more than Rs 2 crores and up to Rs 15 crores at 8.55 per cent.

This is the second hike in the interest rate by LIC Housing Finance in two months. LIC Housing Finance had on August 22 increased the prime lending rate by 50 basis points.

The latest decision to hike interest rate comes just ahead of the RBI's monetary policy decision. The central bank is expected to hike the benchmark lending rate once again to bolster the fight against inflation. Notably, the inflation rate is currently hovering above the upper tolerance band of the central bank for consecutive months.

"As expected, the RBI's decision to hike the repo rate by 50 basis points on 5th August was well measured and abreast with the global economic trend. The hike in repo rate has caused some minimum fluctuation in the EMIs or the tenure on the home loans but demand for housing will remain robust. Hence, the interest rate hike of LIC HFL is in line with the market scenario," Y Viswanatha Gowd, MD &amp; CEO, LIC Housing Finance, said.

The RBI has increased the repo rate by 140 basis points in the last three policy-related meets –- 40 bps in May, 50 bps in June and August each. The latest hike in repo rate was announced on August 5.&nbsp;

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LIC Housing Finance home loan interest rate has been hiked by the company. LIC Housing Finance is one of the largest housing finance mortgage loan companies in the country.&nbsp;


LIC Housing Finance home loan interest rate hiked again - check new rates

Home Loan Balance Transfer: If your existing home loan carries a higher rate of interest, you can easily switch lenders. For this, you have to opt for home loan balance transfer option. A balance loan transfer simply means you transfer the existing loan from one bank to another.&nbsp;

The process of balance transfer has become convenient since RBI removed foreclosure penalties. According to RBI guidelines, lending institutions cannot levy a penalty for foreclosure or prepaying home loans. Earlier, borrowers avoided prepaying a loan because of higher prepayment charges.&nbsp;

But now, the RBI guideline allows borrowers to avail lower interest rates offered by other lenders by opting for a home loan balance transfer. The biggest reason why most people opt for a home loan balance transfer is a lower interest rate. If done wisely, this reduces EMIs and makes the home loan much more affordable.&nbsp;

&nbsp;

<h2>Home Loan Balance Transfer Benefits, Factors To Consider&nbsp;</h2>

&nbsp;

Low Interest Rates

One of the primary reasons why people opt for home loan balance transfers is the low interest rates. If an existing loan carries a higher interest rate, a loan balance transfer is a good option.

Low EMI&nbsp;

The interest rates offered on the loan depend on credit profile and eligibility. If the credit rating is good, banks or lenders offer attractive interest rates. This helps in reducing the EMI on the remaining loan.

Home Loan Tenure

It is suggested to consider income, financial obligations, interest rates and other factors while deciding the loan tenure. A home loan balance transfer also gives an opportunity to revisit the tenure as the interest rate is decreased on the remaining principal amount. A loan balance transfer helps in shifting to better loan tenures. Home loan balance transfer or refinancing could help in reassessing the tenure.

Top-Up Loan

In case of more funds to finance a new home or renovate the existing property, a top-up loan option could be also beneficial. Most lenders offer a top-up loan facility at attractive interest rates over and above your existing loan.

&nbsp;

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(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Home loan balance transfer: Benefits and factors to consider - what you need to know

Entrepreneurs are creating a new India. Their breakthrough ideas have not only given rise to the startup industry but also created millions of jobs and contributed to the country's economic progress. The government, from time to time, takes measures to improve the ease of doing business and cut the compliance burden to encourage people to start businesses. As a result, according to Global Entrepreneurship Monitor (GEM) 2021/2022 report, India is among the top five easiest places to start a new business. This puts India on top of entrepreneurial journeys.

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The government just revised the definition of small companies which will further improve the ease of doing business. The revisions will allow more entities to come under the category of small companies.

Ameer Merchant, an entrepreneur who hails from Gujarat, said that an entrepreneurial journey of a person doesn't involve him/her only instead it has a larger impact on the surroundings. He said that entrepreneurship and jobs creations go hand in hand, adding that small companies represent entrepreneurial aspirations and innovation capabilities. "This contributes immensely to growth and employment."

Tips For Successful Entrepreneurial Journey

1. Clear Vision&nbsp;

A successful entrepreneur is someone who has a vision and a desire to create it. Keep your vision clear at all times. Keep challenging yourself and learn every day and you can achieve what you aspire.

2. Innovation &amp; Strategy&nbsp;

There are many successful entrepreneurial stories. Multi-millionaire Bill Gates had once said speed is the essence. Success is determined by how quickly you create a buzz. There should be a precise and time-bound strategy.

3. Flexibility &amp; Optimism&nbsp;

Speaking about the tips for a successful entrepreneurial journey, Ameer said that the right channelisation of energy can take you to the next level in your business. Focus, flexibility, agility and optimism because opportunities are key to success and sustainability. He said that opportunities sometimes come in the garb of a crisis.&nbsp;

4. Stay Relevant&nbsp;

It is important to stay relevant and turn around the ravages into an opportunity for taking the business to new highs.

5. Overcoming Challenges&nbsp;

"Without overcoming the challenge that threatens to stop you from taking advantage of opportunities, an entrepreneur cannot advance. One can enter the world of entrepreneurship with confidence if they are aware of business plans, priorities, emerging trends, innovation and creativity, network building, targets, competitors or adversaries, how to deal with unforeseen challenges and more," he said.

6. Skills

Ameer, whose skills have helped him to achieve milestones, said that learning skills and utilising them in driving your business are the key. He said that the right approach in his entrepreneurial journey helped to establish the bases of his compound chocolate factory and water facility in Dubai and Iran.

7. Finding Solutions

Success is driven by a competent team. Prepare a team that comes up with solutions and foresees the growth. Without invention and ingenuity, entrepreneurs cannot advance to a new level.

8. Learn From Competitors &amp; Mistakes&nbsp;

Study products or services of competitors and evolve a plan or strategy to take a leadership position in the market. Taking lessons from mistakes and preparing yourself not to repeat them is important for every entrepreneur/start-up that exists.

9. Ready To Work 24x7

An entrepreneur has to be ready to work 24x7. It is vital to realise the value of delegation. Set up a dedicated team that shares your vision. The ability to select the right person for the right job is vital. "Conduct thorough market research to understand the domain," Dushyant Sinha, founder, ICCPL, said.&nbsp;

10. Assess Regularly&nbsp;

It is crucial to assess regularly what is and isn't working. Raj Das, co-founder &amp; CEO, Hirect India, said that knowing 'WHYs' is crucial since the answer may keep you on the right business path. Another important factor is cash flow. It is the lifeblood of any business. It is important to keep track of cash flow and make sure enough cash is available to meet business obligations.

Entrepreneurship is a heady proposition and can become an exciting journey if you have the right approach.

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(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)&nbsp;

The government just revised the definition of small companies which will further improve the ease of doing business. The revisions will allow more entities to come under the category of small companies.


Entrepreneurs creating jobs, making new India: Tips for entrepreneurial success

Narendra Modi Birthday:&nbsp;Prime Minister Narendra Modi is celebrating his 72nd birthday today, September 17. Ever since Narendra Modi assumed the office of the Prime Minister of India, he has left no stone unturned to take India on the path of development and make Indians realise their true potential to make India a developed country. Modi, who is known for taking and implementing bold decisions without fearing anyone, has not only earned praise for his strong leadership from all over the world but also made India the fulcrum of the emerging world order.

On the occasion of PM Modi's 72nd birthday, let's take a quick look at 5 bold and big decisions that have impacted 135-crore Indians as a whole:

&nbsp;

<h2>1. Demonetisation &amp; UPI</h2>

&nbsp;

It was November 8, 2016, when the country saw a big jerk! PM Modi at 8 PM in an address to the nation announced the ban of Rs 500 and Rs 1000 notes and introduced new Rs 500 and Rs 2000 notes. This decision was implemented with immediate effect.&nbsp;

The demonetisation decision led to a massive increase in the use of digital transactions. Digital payments have since then grown and in the last two years of the pandemic, the rapid adoption of UPI for daily transactions hit a new milestone. PM Modi launched BHIM UPI (Bharat Interface for Money - Unified Payments Interface) App on December 31, 2016, and urged people to make digital payments a habit to transform the country into a cashless economy. UPI has since then become synonymous to digital payment which has seen an exponential growth trajectory.

PM Modi in his Independence Day speech this year said that India leads the world in real-time digital payments, accounting for around 40% of transactions.

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<h2>2. Jan Dhan &amp; JAM Trinity&nbsp;</h2>

&nbsp;

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was announced by PM Modi on August 1, 2014, and the scheme was launched on August 28 same year. The scheme is touted to be the biggest financial inclusion initiative in the world. The scheme has ensured access to various basic financial services like a savings bank account, insurance, pension and more for the poor who were deprived of such basic facilities for 70 years. The scheme's deep penetration with the effective use of technology helped the government to reach the poor directly while cutting the mediators.

All the Jan Dhan account holders are provided with a Rupay Debit card. Besides, they are also entitled to an accidental insurance cover of Rs 2 lakh. According to the official website of PMJDY, there are as many as 46.6 crore beneficiaries with Rs 172,617.47 crore balance in accounts.

PM Modi often talks about the JAM trinity. JAM stands for -- Jan Dhan, Aadhaar and Mobile. It has been instrumental in the implementation and the success of the government's welfare schemes. The government uses these three elements to transfer cash-based social assistance directly to the poor. This has also helped the government plug the leakages in the system. All the Jan Dhan accounts are eligible for direct bank transfers and other schemes.

The JAM trinity has invited praise from various quarters for the delivery of benefits of the schemes to the needy in an efficient and timely manner.&nbsp;

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During the pandemic-induced lockdown, that brought the wheels economy to a grinding halt, the JAM trinity allowed the government to reach the needy directly and transfer monetary aid. The success of the JAM trinity and some of the popular schemes like Kisan Samman Nidhi Yojana; Sukanya Samriddhi Yojana; Pradhan Mantri Ujjwala Yojana; PM Mudra Yojana; Ayushman Bharat Yojana among others have brought positive changes in the living standards of the poor.

&nbsp;

<h2>3. Make in India</h2>

&nbsp;

The Make in India initiative was launched by PM Modi in 2014 to boost local manufacturing and reduce dependency on other countries. His dream to transform India into a manufacturing hub has not only given rise to economic activities and foreign fund inflows in the country but also significantly given a phenomenal rise in startups by building a robust ecosystem to encourage entrepreneurship and create jobs.

The Make in India was launched at a time when the country's growth rate was lowest in a decade. The initiative benefitted all -- from multinationals to startups as it seeks to facilitate investment and foster innovation.

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Make in India initiative improved the economic situation and converted the disruption caused by Covid-19 into an opportunity for growth. Several announcements by the government like Aatmanirbhar packages, Production Linked Incentive (PLI) scheme, Pradhan Mantri Mudra Yojana (PMMY), Startup India and many more brought transformational changes in society.&nbsp;

&nbsp;

<h2>4. Goods and Service Tax (GST)</h2>

&nbsp;

Goods and Services Tax (GST) was first conceptualised by the Atal Bihari Vajpayee government. But it took more than a decade to implement the path-breaking measure. GST, touted to be India's biggest tax reform since Independence, was finally rolled out on the midnight of June 30 in 2017.

GST changed the way of taxation on goods and services right from the manufacturer to the consumer. GST not only improved the ease of doing business but also fulfilled the vision of 'One Nation, One Tax'.

&nbsp;

<h2>5. Article 370</h2>

&nbsp;

After the BJP's thumping victory in the 2019 Lok Sabha elections, the party pursued and finally realised its goal of the abrogation of Article 370 and Article 35-A. It was August 5, 2019, when the Modi government revoked Jammu &amp; Kashmir's special status by abrogating Articles 370 and Article 35-A. The saffron party termed it total integration and the decision was welcomed by 135 crore Indians.&nbsp;

Many opposition parties' leaders even supported the move while a few including those from Congress predicted bloodshed. But they have been proved wrong in the last three years.&nbsp;

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People of Jammu and Kashmir and Ladakh (now 2 UTs) who were deprived of their rights before the abrogation of Articles 370 and Article 35-A are now witnessing an all-around development. The abrogation of Article 370 and Article 35-A commenced a new era of democracy in Jammu and Kashmir. The decision allowed the government to fully implement its policies and deepen public outreach.

Narendra Modi Birthday: PM Modi is celebrating his 72nd birthday today, September 17. Modi, who&nbsp;is known for taking and implementing bold decisions, had assumed the office of the Prime Minister of India on May 26, 2014.&nbsp;


PM Narendra Modi Birthday: 5 bold decisions that laid the foundation for New India 

Sanjiv Bhasin Special Pick On Zee Business: Sanjiv Bhasin on Thursday recommended a special stock to Zee Business viewers in a special edition aired on the channel with Managing Editor Anil Singhvi. The stock, he said, could yield a 100 per cent return from the current level, resulting in wealth gain for the investors.

Bhasin recommended South Indian Bank share for long-term investment. The market veteran said that the m-cap of South Indian Bank is Rs 1800 crore. He said that its biggest deposit comes from NRIs, adding that the bank's business is not just limited to South India. He said that 26% of the business is outside southern states. He said that the bank's mobile banking business has reported 1000% growth. Also, the NPAs of the bank is at the lowest.

South Indian Bank share price hit the upper circuit on NSE on Thursday as it gained 20 per cent in the opening session.&nbsp;

Bhasin said, he believes, that the fair value of South Indian Bank should Rs 14-15. He added that South Indian Bank share price could jump to Rs 25 apiece in a year.

<h2>Sanjiv Bhasin&nbsp;Call On Zee Business 
</h2>

<h2>South Indian Bank Share Price Target By Sanjiv Bhasin - Rs 25 (1 Year)</h2>

&nbsp;

South Indian Bank share price has yielded a stellar return of 26 per cent in last 1 month.&nbsp;

Sanjiv Bhasin Special Pick On Zee Business:&nbsp;Sanjiv Bhasin recommended South Indian Bank share for long-term investment, He said that&nbsp;South Indian Bank share price can yield 100 per cent in a year.&nbsp;


Abhinav Ranjan