The price band for the Popular Vehicles and Services IPO is ₹280 to ₹295 per equity share, with a face value of ₹2. The subscription date for the Popular Vehicles and Services IPO is Tuesday, March 12, with a closing date of Thursday, March 14. The distribution to anchor investors for the Popular Vehicles and Services IPO is slated for Monday, March 11.
The floor and cap prices are 140 and 147.50 times the equity shares’ face value, respectively. The price/earnings ratio based on diluted EPS for fiscal 2023 for the firm at the top end of the price range is as high as 28.86, compared to the average industry peer group PE ratio of 34.84; the market cap at offer price to total turnover is 0.43 times; and the P/E ratio at offer price. The weighted average return on net worth for fiscal years 2023, 2022, and 2021 is 15.55%.
Tentatively, the Popular Vehicles and Services IPO basis of allocation of shares will be concluded on Friday, March 15, and the business will commence refunds on Monday, March 18, with shares credited to allottees’ demat accounts on the same day. Popular Vehicles and Services’ share price is expected to be posted on the BSE and NSE on Tuesday, March 19.
The Red Herring Prospectus (RHP) lists John K. Paul, Francis K. Paul, and Naveen Philip as the company’s promoters. The promoters now possess 43,558,086 equity shares in total, accounting for 69.45% of the company’s pre-offer issued, subscribed, and paid-up equity share capital.
According to its RHP, the company has a completely integrated business model and is a diverse car dealership in India in terms of revenue as of fiscal 2023, according to the CRISIL Report.The corporation covers all aspects of automobile ownership, such as selling new cars, maintaining and repairing them, providing spare parts and accessories, assisting with the purchase and sale of old cars, operating driving schools, and assisting in the sale of insurance and financial goods from third parties.
According to RHP, the company’s auto dealership operations are separated into three major categories: commercial vehicles, electric two- and three-wheeler vehicles, and passenger vehicles, including luxury cars.According to the RHP, the company’s listed peer is Landmark Cars Limited (P/E ratio of 34.84).From March 31, 2022 to March 31, 2023, Popular Vehicles & Services Limited’s profit after tax (PAT) increased by 90.31%, while revenue increased by 40.42%.
Details of the popular vehicles and services IPO.
The Popular Vehicles and Services IPO includes a ₹250 crore new issuance and an offer-for-sale (OFS) of up to 11,917,075 equity shares with a face value of ₹2. The selling shareholder is BanyanTree Growth Capital II, LLC.The net proceeds will be used to fund a variety of goals, including the full or partial repayment and/or prepayment of certain loans obtained by the company and its subsidiaries, Popular Autoworks Private Limited (PAWL), Popular Mega Motors (India) Private Limited (PMMIL), Kuttukaran Green Private Limited (KGPL), Kuttukaran Cars Private Limited (KCPL), and Prabal Motors Private Limited (PMPL), as well as general corporate purposes.
The book running lead managers for the Popular Vehicles & Services IPO are ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited, while Link Intime India Private Ltd serves as the registrar.
PV Sindhu faced strong battle against former world number eight Li, but she pulled off a 20-22 22-20 21-19 comeback victory.
PV Sindhu moved to the second round of the women’s singles at the French Open Super 750 badminton competition in Paris on Wednesday, defeating Michelle Li of Canada in three games.
Sindhu, a double Olympic medalist, had tight resistance from former world number eight Li, but she came back from behind to win 20-22 22-20 21-19 in an hour and 20 minutes at the Arena Porte de la Chapelle.
Ah, nothing like a good old grind! 😅
Always happy to get a win in tricky, drifty conditions with a new team sitting behind me ❤️
And what makes it even more special is having a true legend of Indian badminton by my side, taking on a coaching assignment after 25 years just to… pic.twitter.com/EuCcPz1J69
Kidambi Srikanth also advanced to the men’s singles second round with a surprise victory over Chou Tien Chen of Chinese Taipei, however HS Prannoy was eliminated in the first round.Srikanth, the world No. 24 who is racing against the clock to qualify for the Paris Olympics, defeated 14th-ranked Chen 21-15, 20-22, 21-8 in a 66-minute first round match, his third victory over the Taiwanese shuttler in seven encounters.
The 2021 world championships silver medalist Srikanth will face China’s world No. 17 Lu Guang Zu, who terminated Prannoy’s campaign with a solid 21-17, 21-17 triumph on the adjacent court.
Sindhu, who is playing only her second tournament after recovering from a knee injury suffered in the same event in October last year, won her 10th match against Li in 13 matches.Sindhu, who had previously lost to Li at the Thailand Open in May of last year, was still looking for her ‘A’ game as she fought for the most of the match.Li’s offense worked for the most of the first half of the match, with strong shot quality in the midcourt area. But Sindhu gradually gained confidence as she rallied from 13-17 behind after losing the first game to win the second.
While Sindhu had some time to adjust to the circumstances, Li was spot on from the outset, executing a broad range of strokes during the short and sharp rallies. The Canadian led 11-7 at the first interval.
With the legendary Prakash Padukone and Agus Dwi Santoso as coaches, Sindhu was able to get her act together, pushing Li to the back and producing forehand crosses and amazing drops.Soon, it was 14-14 and then 19-19 when Li got a game point, only for Sindhu to tie it with a fortuitous shot at the net.
Li secured another game point, but this time Sindhu sailed long as the Canadian won the first game.Li gained a 7-4 lead after switching sides, with her cross-court drop shot paying off even as Sindhu was left to deal with unforced errors. A forehand smash let Li take an 11-6 lead at the break.
Dakota Johnson, actress of 50 Shades of Grey, and Coldplay musician are allegedly engaged. The musician and actress have been in a six-year romance.According to a popular news outlet, Chris Martin proposed to Dakota Johnson a while back. For the past six years, the two have kept their romance under wraps. While they have made several public appearances together, they have kept their personal lives secret.
The couple is reportedly sharing the news with their close friends and family. The reports also mention that Chris’ ex-wife Gweneth Paltrow and their kids Apple and Moses approve of the union.
In an era when antibiotic resistance threatens to become one of the major causes of death by 2050, a ground-breaking finding casts a light of hope on the impending global health problem. A team of dedicated scientists, lead by Michael S. Gilmore of Massachusetts Eye and Ear, has discovered 18 previously undiscovered types of Enterococcus bacteria. This discovery, reported in the Proceedings of the National Academy of Sciences, not only increases the known variety of this species by more than 25%, but it also adds hundreds of new genes to the scientific community’s armory against multidrug-resistant diseases.
Discovering New Frontiers in Antibiotic Resistance
The finding was no little accomplishment. An worldwide team of researchers, including Ashlee Earl of Broad’s Bacterial Genomics Group, set out on treks to some of the world’s most isolated locations. From the cold seas of the sub-Antarctic to the lush greenery of the Brazilian jungle, these scientists gathered samples that would eventually contribute to a breakthrough in our knowledge of antibiotic resistance.
Their findings not only highlight the natural reservoirs of enterococci, including antibiotic-resistant species, in insects and other invertebrates, but also emphasize the importance of global biodiversity in seeking novel solutions to the dilemma.
A View into the Ancient World of Enterococci.
This investigation into enterococci has found that these bacteria have lived with terrestrial mammals for around 425 million years. The study’s thorough collecting technique not only revealed novel types of bacterial toxins, but also highlighted enterococci’s flexibility and resilience, particularly their capacity to withstand antibiotics. Understanding how resistance genes transfer to hospital germs, posing a substantial danger to human health, allows scientists to investigate novel techniques to monitoring and combating drug-resistant infections more efficiently.
The discovery of these 18 new Enterococcus bacterium species opens up new options for study and development in the battle against antibiotic resistance, but it also highlights the size of the problem ahead. Enterococcus infections, which are particularly deadly after surgery and in hospitalized patients, cost the healthcare system more than $30 billion each year. The global health community is now responsible for not just studying the complicated biology of these novel species, but also converting that information into practical ways to halt the tide of antibiotic resistance
As the globe grapples with the growing threat of antibiotic-resistant bacteria, Gilmore’s team’s finding is a watershed moment in the road to protect global health. By adding hundreds of new genes from these ancient microorganisms to our genetic library, scientists get crucial information that might possibly transform how we fight illnesses. The fight against antibiotic resistance is far from ended, but with ongoing investment in research and innovation, there is optimism on the horizon.
Sting vs. The Undertaker is one of the classic what-if scenarios in professional wrestling history.
Sting vs The Undertaker. It is one of the greatest unfulfilled fantasy bouts in professional wrestling, with famous what-ifs like “Stone Cold” Steve Austin vs. Hulk Hogan and Shawn Michaels vs The Rock.
The Rock.Sting and Undertaker were perfect for one other. A meeting of legendary personalities cloaked in mystery. A once-in-a-lifetime showdown between two of professional wrestling’s most iconic gimmicks. A celebration of the industry’s most renowned talents.
“I think if it was done right, it could have been a night, for sure, everyone would remember and never forget,” Sting told CBS Sports ahead of his retirement match at AEW Revolution on March 3. “They would be discussing it to this day. But that was simply not going to happen.Sting represents the alternative, which ranges from NWA and WCW to TNA and AEW.
WWE has already approached the renowned wrestler, but he denied them down to maintain his persona. Sting didn’t make his WWE debut for over 30 years. Sting was ultimately convinced by his desire to schedule the bout that he and his fans had hoped for.
“I thought, ‘Well, maybe if I get my foot in the door, we’ll see what happens.’ “So I got my foot in the door,” Sting explained. “We performed a WrestleMania with Triple H, and then Vince phoned and said, ‘Hey, I want you to have a world title fight against Seth. Would you be willing to do that? ‘Yes, I would be willing to do that.’ Still hoping I could get in there with Taker.”
However, the match never took place. Sting contracted with WWE from 2014 till 2020. The Undertaker retired after defeating AJ Styles in a Boneyard Match at WrestleMania 36 amid the COVID-19 epidemic. Sting’s swan song will be with Darby Allin in an AEW tag team title battle against The Young Bucks. Wrestling retirements are rarely permanent, but Sting and Undertaker are both older, at 64 and 58 years old, respectively
.”I had so many ideas over the years,” Sting explained. “Smoke and mirrors are often bad things. But in our circumstance, I believe we couldn’t have enough smoke and mirrors, given his schtick and the mysteries of his and my characters. I think that would have been a night to remember. I would have liked to witness that. “If I could have played that match alone, I would have been fantastic. I would not have needed to do anything else.”
Timothée Chalamet and Zendaya in Dune: Part Two. CREDIT: Warner Bros.
Dune: Part Two follows the second half of Frank Herbert’s original 1965 novel, however the film makes significant alterations to the text.The sequel to 2021’s Dune, directed by Denis Villeneuve, follows up with Paul Atreides (Timothée Chalamet) uniting with the Fremen people of Arrakis to wage war against House Harkonnen.
Dune: Part Two co-stars Chalamet, Rebecca Ferguson, Josh Brolin, Dave Bautista, Stellan Skarsgård, Zendaya, Austin Butler, and Florence Pugh.
What occurs at the end of Dune: Part II?
After being accepted as the Fremen’s Lisan al Gaib (off-world prophet or messiah), Paul Atreides leads them in an attack against Emperor Shaddam IV (Christopher Walken) and House Harkonnen. The Fremen are able to conquer the capital city of Arrakeen thanks to their trust in Paul and their ability to ride sandworms
To revenge his father’s death, Paul murders Baron Vladimir Harkonnen (Stellan Skarsgård). Paul then claims to be the Duke of Arrakis, and with possession of the spice, he challenges Emperor Shaddam IV for the throne of the whole Imperium by offering to marry his daughter, Princess Irulan (Florence Pugh).
Florence Pugh stars in ‘Dune: Part Two’. Credit: Warner Bros.
As Paul demands for a battle with Shaddam IV to resolve the situation, the Baron’s heir, Feyd-Rautha (Austin Butler), accepts to fight in his stead. Following a tight combat, Paul stabs and kills Feyd-Rautha, securing the fight, Arrakis, and the crown.On Irulan’s request, Paul spares Shaddam IV’s life, but asks him to kneel to demonstrate his acceptance of him as the new Emperor, which he does. Paul’s claim to the throne, however, is rejected by the other great families, prompting him to launch war on them with the devoted Fremen under his command.
Paul’s decision to marry Irulan, as well as his unwavering desire for power, have a negative impact on his relationship with Chani (Zendaya). In the last moments, Chani is shown ready to leave on a sandworm in the desert, refusing to follow Paul as her people do.
Yes. In Dune: Part Two, we learn that the man Paul murders, Baron Vladimir Harkonnen, is really his grandpa. Lady Jessica, Paul’s mother, is the Baron’s daughter, a fact kept hidden from her and the Baron by the Bene Gesserit, who plotted to combine the two family bloodlines.
Is the film’s ending different from the book?
While it is primarily a faithful adaptation, there are significant differences. The major difference is Chani’s reaction to Paul’s ascension. In the story, Chani recognizes the political motives behind Paul’s marriage to Irulan and decides to become his concubine. Her removal from the picture, on the other hand, hints that a prospective Dune Messiah sequel may show their relationship evolving in a very different way.
Zendaya plays Fremen warrior Chani. CREDIT: Warner Bros.
The other significant difference is who kills the Baron. While Paul kills him in Dune: Part Two, his younger sister Alia exacts retribution in the novels. Alia is not yet born in this film adaption; she is only glimpsed in Lady Jessica’s womb. Anya Taylor-Joy plays Alia, and we hear her voice for the first time in the last moments.
Reliance Industries is in preliminary conversations with British apparel retailer Primark about introducing the brand to the Indian market. This possible venture would pit Reliance against competitors such as Tata’s Zudio, Landmark Group’s Max, and Shoppers Stop’s new value format InTune, the company said.
Primark, a 55-year-old company famed for its low-cost apparel and shoes, has been studying the Indian market for some years and may partner with Reliance through a joint venture or licensing deal, according to two people.
The majority of the stores in India are anticipated to be on the high street due to the brand’s big box structure, as opposed to global retailers that normally choose malls, according to the article.
Primark’s Global Success
Primark has shown considerable global revenue growth in recent years, with the exception of two Covid-affected years. The firm sells goods at even cheaper costs than competitors like H&M and Uniqlo.
While China is Primark’s principal source nation, India comes second in terms of factories supplying the firm, demonstrating the brand’s dedication to nearshoring in its supply chain strategy.According to Devangshu Dutta, founder of retail consultancy firm Third Eyesight, Reliance, India’s largest retailer with many foreign brand agreements, may give Primark with a significant edge in terms of real estate and operational efficiencies.
Experts believe that India’s consumption structure, which was historically biased toward a small group of wealthy people, is now opening up new chances for bargain brands. Primark, owned by Associated British Foods, wants to have 530 shops worldwide by the end of 2026, with over 400 now open.
Reliance, which has over 18,774 outlets in its existing portfolio, including Trends and the newly established Yousta, competes directly with fast-fashion companies such as Zara and H&M in India.RIL did not react to inquiries. A Primark representative recognized the brand’s openness to new prospects, but declined to comment on the India ambitions.
The Sun’s magnetic field fluctuates throughout time and from point to point, resulting in sunspots, geomagnetic storms, and the northern lights.
In drawings and paintings, the sun frequently appears as a complete circle of light, radiating its energy evenly in all directions. However, if we look closely, we may see sporadic eruptions in certain directions. Solar eruptions occur when the energy contained in the sun’s magnetic field is abruptly released, dramatically heating objects in its vicinity to millions of degrees. This leads in the release of a massive quantity of energy over the whole electromagnetic spectrum, from gamma rays to x-rays to radio waves. While our atmosphere protects us from damaging radiation, when such emissions reach Earth, they can impair media transmissions. But this raises a fascinating question: why does the sun have a magnetic field?
Scalding Magnets
When gas reaches extremely high temperatures, it becomes plasma, an ionized gas state. During the ionization process, electrons are freed from gas atoms, resulting in the production of free charged particles: negative electrons and positive atom nuclei. According to the equations of electrodynamics, when a charged particle is in motion, it produces a magnetic field around it, and a charged particle inside a magnetic field is driven by it, resulting in an electric current. In reality, this idea is the foundation of the dynamo generator.
The sun is a massive plasma sphere that spins about its axis. The sun’s surface temperature is lower than its inside temperature. Temperature differences lead hot matter from deeper layers to rise while cooler matter from the outer layers falls, a phenomenon known as convection, which also accounts for the swirling motion of boiling water in a kettle. The complicated motion of charged plasma particles, driven by convection and the sun’s axial rotation, creates magnetic fields, which influence the motion of the charged particles. The complicated motion induced by the combination of convection, the sun’s spin (which varies in speed across latitude lines on its surface), and local magnetic fields all contribute to the intricate dynamics of the sun’s magnetic field. Indeed, the depth at which the sun’s magnetic field originates is still being investigated.
A Spotted Sunray
Solar eruptions are most common in “active areas” when the sun’s magnetic field is very powerful and its form is distorted. In these places, “sunspots” frequently form, which are black spots that appear on the sun’s surface for a brief period of time before disappearing. In the spot areas, the distortion in the magnetic field prevents convection from the deeper layers outward, resulting in temperature drops and the appearance of darker colors.
NASA’s video explaining fluctuations in the sun’s magnetic field:
Three Millennia of Sun Monitoring
Sunspots were originally documented in the Chinese “Book of Changes” (I Ching), which was written about 2,800 years ago. Beginning in the 28th century B.C., Chinese astronomers carefully chronicled sunspots. The Greek philosopher Theophrastus reported the first sunspots in the Western world around 300 B.C. In December 1610, English astronomer Tomas Harriot was the first to observe, or at least document, sunspots using a telescope.
Christian Horrebow, a Danish astronomer, discovered in 1775 that the quantity and size of sunspots alter every few years. In an essay published in 1801, British astronomer William Herschel claimed to have discovered a relationship between the number and form of sunspots and the temperature observed on Earth’s surface, as well as between the number of sunspots and wheat prices in Britain. However, these statements were eventually debunked.
In 1843, German astronomer Heinrich Schwabe presented a clear cycle in the average number of sunspots, and in 1852, Swiss astronomer Rudolf Wolf established a numbering system for solar cycles dating back to the mid-18th century, with the cycle that began in 1755 considered the first in the count. A solar cycle is defined as the time between two periods of low solar activity and lasts around eleven years on average.
By analyzing the frequency of the carbon 14 isotope in tree rings, in 2004 scientists successfully reconstructed solar activity levels for the past 11,400 years, since the last ice age. The researchers found that during ninety percent of this prolonged period, the level of solar activity was lower than that observed between the 1940’s and the early 2000’s, and nearly all previous periods of enhanced activity were shorter than this period. In the last solar cycle, cycle number twenty four, that lasted from December 2008 to December 2019, solar activity was significantly lower than what was considered usual in recent decades, similar to the levels documented between the late 19th century and the early 20th century.
Is there a link between solar activity levels and global warming on Earth? Most researchers believe that the sun’s contribution to the observed warming trend in recent decades is insignificant. For instance, despite Earth experiencing a gradual warming since the mid-20th century, the intensity of solar radiation reaching us has remained relatively stable since at least the mid-19th century. Moreover, if solar activity were the main driver of global warming, we would expect warming across all layers of the atmosphere, whereas the upper atmosphere is actually exhibiting a cooling trend.
When Solar Wind reaches the Earth
Aside from eruptions and sunspots, the sun’s magnetic field may cause coronal mass ejections. The corona is a form of very hot halo that surrounds the sun and is primarily made of ionized hydrogen. Because of the corona’s tremendous temperature, charged particles are constantly released into space, resulting in the phenomena known as “solar wind”. These charged particles are drawn to Earth’s magnetic poles and may become trapped in the magnetic field near the poles. When these charged particles hit with molecules in the higher levels of the atmosphere, a characteristic light is produced, causing the phenomena known as the northern lights (Aurora Borealis).
When the sun’s magnetic activity amplifies solar wind, it can cause a geomagnetic storm, which is a transient disturbance in the Earth’s magnetic field. In severe circumstances, such storms can impair satellite operations, high-voltage power lines, media transmissions, radar and navigation systems, and other infrastructure. Earth’s atmosphere and magnetosphere protect life from the impacts of geomagnetic storms. However, astronauts or persons flying at high altitudes, outside of this protective envelope or on its fringes, may suffer serious physiological consequences, such as the creation of cancer-causing mutations, as a result of geomagnetic storm exposure. Some claim that such storms damage species that rely on the Earth’s magnetic field for navigation and migration, however research into this is still in its early stages.
It’s Always the Sun
The current solar cycle (number twenty-five) began in December 2019 and is expected to run until 2030. While most estimates predict a very weak cycle, similar to the previous one, measurements from its first three years indicate higher-than-expected activity levels, albeit still lower than those of past cycles. For example, two particularly powerful eruptions happened in late August. Nonetheless, the peak of solar activity is still ahead of us, expected to occur at the end of 2024 or in early 2025.
While most academics believe that solar activity levels have minimal effect on global warming, solar cycles may nevertheless impair communication and navigation systems, as well as cause damage to high-voltage power lines. The study of solar activity is important theoretically as well as practically. Continued study and monitoring of the sun and its magnetic activity will help us better understand the mechanisms that govern the genesis and evolution of the sun’s magnetic field—as well as that of other stars in the cosmos.
Finland:The Finnish economy will enter a recession again in the second half of 2023, according to the national statistics office, as high inflation and rising interest rates hampered investment and economic optimism.
According to official figures, gross domestic product (GDP) fell 0.7% in October-December compared to the preceding quarter, and 1.1% in July-September.
The Finnish economy quickly recovered with 0.4% growth in the second quarter of 2023 after sliding into recession at the end of 2022.The electronics, forestry, and hospitality industries were struck the worst, with banking and insurance being the only area that witnessed considerable increase, according to the statistics office.In December, the Finnish central bank predicted that rising interest rates and prices, weaker investment, and future uncertainty would continue to weigh on the economy this year. It expected recovery to begin by the end of 2024.
According to Statistics Finland, output in the chemical, metal, electrical, and electronics industries decreased in October-December compared to the previous quarter. The forest industry’s output declined dramatically in the second and third quarters, but the trend stopped in the fourth quarter.
Looking ahead to 2023, Statistics Finland could only predict growth in the metals sector, energy, water supply, and waste management.Construction activity has been declining since early last year and will continue to do so until 2023. The fall in home building has been especially sharp, although the trend in civil engineering has been more mixed.
The trade sector dropped sharply from January to March last year, but has subsequently exhibited mixed growth.Hospitality services expanded last year due to a robust first quarter, but the trend has since shifted downward. Among other service activities, information and communication increased steadily last year. The amount of transportation was smaller than the previous year, but it did show growth in the second and third quarters.
Ramaswamy joins Satya Nadella (Microsoft), Sundar Pichai (Google), and others as yet another Indian-born CEO of a multinational corporation.On Thursday, Sridhar Ramaswamy was appointed CEO of Snowflake, a data cloud startup located in the United States, adding to the ever-growing roster of Indian-origin CEOs.
Ramaswamy, whose appointment is effective immediately, follows Frank Slootman, joining an illustrious roster that includes Satya Nadella (Microsoft) and Sundar Pichai (Google).
