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UNICEF India, Ayushmann Khurrana celebrate Radio Excellence for child rights

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New Delhi, Feb 27 (IANS) The fifth edition of the UNICEF India Radio4Child Awards held today, honoured the outstanding contributions of 22 radio professionals from All India Radio, private FM stations and community radio for their exemplary work in creating awareness on routine immunization, climate change child protection issues.

The 2024 awards were presented by renowned Bollywood actor and UNICEF India National Ambassador, Ayushmann Khurrana, highlighting three themes that impact children’s rights.

Addressing the award winners and radio professionals, Ayushmann Khurrana shared how his career started as an RJ and added: “I’m deeply invested in the child rights, the Awards champion today. Rights that help children survive, thrive and develop in a safe environment, enabling them to be and to do their best in their lives.

“Today, we celebrate the talents of the radio professionals, whose work is reaching millions with important messages that help children realize their aspirations. As storytellers, educators, and changemakers they remind us that radio is more than entertainment, it is a powerful medium for good.”

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The Radio4Child Awards 2024 received 165 entries from 59 radio professionals across 20 states, reflecting a collective effort in amplifying messages that impact children. Radio4Child is a vibrant public-private partnership, bringing together radio professionals from all over India, while enhancing understanding of radio professionals on child rights.

Zafrin Chowdhury, Chief of Communications, Advocacy, and Partnerships, UNICEF India, expressed UNICEF’s appreciation for the Radio4Child (R4C) partnership and the commitment and interesting work of radio professionals in promoting child rights.

Building on its rich, 100-year history, radio in India continues to grow as a popular, affordable and trusted source of information and entertainment with social commitment.

We rely on the R4C partnership to spread awareness on critical issues for children such as immunisation, health and safety from early years. This year, UNICEF is marking its 75th anniversary in India. Together, let us harness the power of radio to drive change for every child to have a better and brighter future.

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The entries were evaluated based on criteria of innovation, emotion, and messaging by a jury, comprising of former radio professionals from All India Radio, representative of the Association of Radio Operators for India (AROI); senior members from civil society SSDS and columnists.

On the first day, over 60 radio professionals participated in a day-long capacity development workshop on Inclusive Early Childhood Development, Climate Change, and Child Protection – reflecting on the commitment to fostering innovation in radio programming for children’s issues.

–IANS

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Zomato may buy Paytm's movie ticketing business: Reports

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New Delhi, June 16 (IANS) Online food delivery platform Zomato is in advanced discussions to buy Paytm’s movie ticketing and events business, according to multiple reports.

This move aligns with Zomato’s plan to expand its ‘going out’ offerings.

The potential deal could value Paytm’s vertical at around Rs 1,500 crore, as per reports.

Zomato or Paytm were yet to comment on the reports.

If finalised, this acquisition would be Zomato’s second-largest purchase, following its acquisition of quick commerce platform Blinkit in 2021, which was an all-stock deal worth Rs 4,447 crore.

Meanwhile, Zomato has invested Rs 300 crore in its quick commerce arm, Blinkit, as this segment is projected to surpass its core food delivery business.

The board of the company has approved the investment of Rs 300 crore in Blinkit Commerce, as per filings with the Registrar of Companies accessed via TheKredible.

Additionally, Zomato will also invest Rs 100 crore in Zomato Entertainment, its events arm, which specialises in curating and selling tickets for concerts, parties, and festivals.

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–IANS

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First-ever direct flight between India and Cambodia launched

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Phnom Penh, June 16 (IANS) Cambodian Deputy Prime Minister Neth Savoeun and Indian Ambassador to the country Devyani Khobragade launched the first-ever direct flight between Phnom Penh and New Delhi on Sunday.

The flight between the two capitals will be operated four times a week by Cambodia’s national flag carrier Cambodia Angkor Air.

Several members of the Indian community also joined the flight inauguration ceremony which not only marks ease of travel for tourists but also strengthens the historic ties between the two countries.

The Embassy of India in Phnom Penh hailed the development as a “historic moment”, citing India’s “Act East” Policy.

A statement released by Angkor Air said that the new connection will make the Angkor Archaeological Park, a UNESCO-listed world heritage site, more accessible to Indian tourists and also provide Cambodian patients better access to medical treatments in India.

“With both nations’ rich histories and mutual interests, Cambodia Angkor Air is optimistic about the potential and positive impact of this new service,” the statement said.

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Citing India’s involvement in the restoration of Angkor Wat and Preah Vihear temples in Cambodia depicts the cultural and linguistic connect, Prime Minister Narendra Modi has time and again spotlighted the historical and civilisational links between the two countries.

–IANS

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Markets need correction but current momentum indicates otherwise

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New Delhi, June 16 (IANS) After the sharp gains witnessed in the previous week, markets were circumspect this time around but continued to post gains. Markets are at lifetime highs, and in the previous week, one saw the market breadth gaining substantially.

One reason for the above could be the fact that key portfolios of the Cabinet have been retained by the ruling party, and there is no significant change in ministers. This implies continuity. Probably, that explains why the markets rallied and why one saw such huge momentum. The market believes that the policies and thinking of the government in Modi 3.0 would be on similar lines as in the previous stint, even though this is a coalition government.

Sensex gained on three of the five trading sessions and lost on two, while NIFTY gained on four sessions and lost on one session. BSESENSEX gained 299.41 points or 0.39 per cent to close at 76,992.77 points, while NIFTY gained 175.45 points or 0.75 per cent to close at 23,465.60 points. The broader indices like BSE100, BSE200 and BSE500 gained 1.29 per cent, 1.68 per cent and 2.02 per cent. BSEMIDCAP gained 4.41 per cent, while BSESMALLCAP was up 5.07 per cent.

In the benchmark indices, one is seeing a churning of heavyweight stocks. In the previous week, the top gainers were FMCG and IT stocks. This week, they were under pressure, and we saw cement shares rallying. I believe this rotation will continue till the announcement of the budget and the onset of Quarter One results for the April to June Quarter.

If there is one serious concern in the market, it’s the fact that valuations have run up quite sharply, and we have not seen any meaningful improvement in results, which indicates a solid improvement in earnings growth.

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The Indian Rupee lost some ground and was down 19 paise or 0.23 per cent to close at Rs 83.56 to the US Dollar. There appears to be clarity in the US markets that there would be no immediate rate cut and that in the current calendar year, there would be just one rate cut. Dow Jones lost 209.83 points or 0.54 per cent to close at 38,589.16 points. Dow gained on just one of the five sessions and lost on four.

In primary market news, we had one issue which opened and closed for subscription last week. The issue from Le Travenues Technologies Limited was subscribed 98.1 times overall. The QIB portion was subscribed 106.73 times, the HNI portion was subscribed 110.25 times, and the Retail portion was subscribed 53.95 times. There were 26.75 lakh applications overall.

In the week ahead, we begin the week with a trading holiday on Monday. This will shorten the week and increase volatility to some extent. There are three issues which are opening in the coming week. The first of the lot is the issue from DEE Development Engineers Limited, which is tapping the capital markets with its fresh issue of Rs 325 crore and an offer for sale of 45.82 lakh shares in a price band of Rs 193-203.

The company is in the business of piping solutions for the oil and gas sector, chemical sector and supercritical and power sector. It also makes structural towers for the wind energy space. It began operations in Haryana and has now expanded operations into Kutch in Gujarat. This place is strategically located with two ports, Kandla and Mundra, in the vicinity, customers for wind energy having their sites in the vicinity, and major steel suppliers being in a 25-kilometre radius. The location helps in reducing costs on account of inward transportation significantly.

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The expansion happening at Kutch will take about 6-8 months to fructify. I believe the company has a great future, and it will do well after the commissioning of the new plant. The numbers of the company would reflect improved scale and efficiency for the year ended March 26. Only if you have an investment horizon of 18 months or more should you invest now. There may always be listing gains looking at the market mood, but otherwise, investment is for the medium to long term.

The second issue is from a NBFC based out of Rajasthan, Akme Fintrade (India) Limited. The company is raising through a fresh issue of 1.1 crore shares in a price band of Rs 114-120. The issue opens on Wednesday, June 19 and closes on Friday, June 21.

The NBFC space is crowded, and recent issues in this space have not done well. The company and its merchant banker have chosen not to have a roadshow in Mumbai for this issue. This speaks volumes for their confidence in marketing the issue. One wishes them luck.

The third issue is from Stanley Lifestyles Limited, which is tapping the capital markets with its fresh issue of Rs 200 crore and an offer for sale of 91,33,454 shares in a price band of Rs 351-369. The issue opens on Friday, June 21 and closes on Tuesday, June 25.

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The company is a bespoke manufacturer of super-premium and luxury furniture brands in India. It’s a home-grown brand, and a little over half its revenues come from sofas and recliners. The company crafts its products as per the requirements of its customers, and everything’s made to order.

The business has been growing, and with funds being raised to open more stores, benefits of the same would be available as time passes. The company is in a niche segment where luxury defines markets. Take a measured call, as growth in revenues will not be a factor of perpendicular growth.

Coming to the markets in the week ahead, as mentioned earlier, it would be a four-day week. Momentum and market breadth are in favour of the bulls, and there seems to be no letting go of them as of now. However, the run-up has been fast and other than the sharp one-day correction on June 4, no meaningful corrections as of now.

Market corrections come suddenly and without warning. Will it happen this week or the next? Not sure. Keep one ear to the ground and prepare for the same because that could be sharp and meaningful. Until that happens, ride the wave as long as the going is good.

A simple strategy for the period ahead would be to ensure that you have no overnight exposure, as markets could open gap-up or gap-down. This could be dangerous. Trading opportunities would exist galore and provide plenty of trades to be facilitated. Use the opportunities to trade and await the correction when it comes.

Trade cautiously.

(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal)

–IANS

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Modi 3.0: Stock markets to touch new high in 1 yr, say global rating agencies

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New Delhi, June 16 (IANS) Indian stock markets have seen a robust rally since the new government’s formation, closing at an all-time high in the last week. According to top rating agencies, the indices are set to gain new highs in the next 12 months.

It was the second consecutive week when Indian frontline indices Sensex and Nifty made a new all-time high of 77,145 and 23,490 respectively, as inflation cooled off.

The stock market is attracting global funds which are going to accelerate soon.

Moreover, the stock markets have emerged as a favourite investment destination for retail investors.

According to global rating agency Moody’s, its “12-month forward BSE Sensex target is 82,000, implying 14 per cent upside”.

In its latest report, Moody’s said that the key benefit to the market of the NDA’s re-election is “policy predictability, which will influence how growth and equity return pan out in the coming five years”.

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“We believe the government is likely to continue focusing on macro stability (i.e., inflation hawkishness) to inform policy,” according to the report.

“With government continuity now in place, we believe the market can look forward to further structural reforms, giving us more confidence in the earnings cycle. Macro stability with rising GDP growth relative to real rates should extend India’s outperformance over emerging markets equities,” it added.

According to Moody’s, India’s stock market has been making new highs, and the debate now is over what could take the market materially higher.

“In our view, the government’s mandate is likely to result in policy changes that will lengthen the earnings cycle and surprise the market,” it emphasised.

With Modi 3.0 in power, more will come over the next five years in the form of positive structural shifts.

Moreover, India has reclaimed the fourth-biggest global equity market tag from Hong Kong. The country’s market capitalisation soared 10 per cent to reach $5.2 trillion.

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In comparison, Hong Kong’s equity market cap is $5.17 trillion, down 5.4 per cent from the high of $5.47 trillion this year.

At present, India is the second-largest emerging market after China.

Global investors now prioritise liquidity and can’t afford to ignore the Indian stock market, which is booming with retail investments, according to global analysts.

–IANS

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Collective action required to achieve renewable energy targets: MoS Shripad Yesso Naik

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New Delhi, June 16 (IANS) Collective action is required to achieve renewable energy targets, making India a leader in wind energy and creating a greener, brighter future for all, Minister of State of New and Renewable Energy and Power, Shripad Yesso Naik, said.

Speaking on the ‘Global Wind Day’, MoS Naik congratulated Gujarat, Karnataka and Tamil Nadu for achieving the highest wind capacity addition in the country during FY 2023-24.

Bhupinder Singh Bhalla, Secretary, MNRE, said that combining solar and wind energy is essential for a reliable grid and meet the country’s target of 500 GW renewable energy capacity by 2030 and net zero by 2070.

India has a history of wind energy generation spanning more than four decades.

With a cumulative installed wind power capacity of 46.4 GW by May, it has progressed to become the fourth largest in the world.

Bhalla highlighted the previous year’s achievements and motivated the stakeholders to collaborate to realise the short term as well as long term goal for the sector.

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The event witnessed panel discussions on the potential of both onshore and offshore wind energy, with the active participation from Central and state government authorities, manufacturers and developers, academia, think tanks, and other key stakeholders.

–IANS

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