Centre notifies new vehicle insurance rates - Economic Times

The centre on Wednesday approved the new base premium rates for third party motor vehicle insurance. These revised rates will be applicable from June 1, 2022. These rates were last revised for financial year 2019-20 and were kept unchanged during the COVID-19 pandemic.

According to a gazette notification from the Ministry of Road, Transport, and Highways, the annual rate of third-party insurance for private cars not exceeding 1000 cc has been fixed at Rs 2,094, up from Rs 2,072 in 2019-20. Under the new rates, third party insurance for private cars with an engine capacity between 1000 cc and 1500 cc has been raised to Rs 3,416 from Rs 3,221 in 2019-20. Larger private vehicles that have an engine capacity above 1500 cc will see the premiums fall to Rs 7,897 from Rs 7,890.

For two wheelers over 150 cc but not exceeding 350 cc, the insurance premium will be Rs 1,366 while two-wheelers over 350 cc will command a premium of Rs 2,804.

The three-year single premium for a new car not exceeding 1000 cc has been fixed at Rs 6,521, while for a car between 1000 cc and 1500 cc it has been fixed at Rs 10,640. A new private vehicle exceeding 1500 cc will be insured at Rs 24,596 for three years under the newly notified rates.

The five year single premium for two wheelers not exceeding 75 cc is Rs 2,901, exceeding 75 cc but not 150 cc is Rs 3,851, and exceeding 150 cc but not 350 cc is Rs 7,365. A two wheeler exceeding 350 cc can be insured for five years at Rs 15,117 under the new rates.

A new private electric vehicle (EV) can be insured at Rs 5,543 for three years if it is not exceeding 30 KW. If the EV exceeds 30 KW but is less than 65 KW, the three year premium will be Rs 9,044. Larger EVs exceeding 65 KW will be insured at Rs 20,907 for three years.

New two wheelers EVs can be insured under five year single premiums for Rs 2,466 if they are not exceeding 3 KW. EV two wheelers exceeding 3 KW but not 7 KW will be insured for Rs 3,273, and exceeding 7 KW but not 16 KW for Rs 6,260. Higher powered EV two wheelers with a capacity exceeding 16 KW will be insured at Rs 12,849 for five years.

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2022 Kia EV6 Preview : Driven at Buddh - Team-BHP

The Kia EV6 goes around corners like it’s on rails. The electronic aids plus the electric motor would be terrific for track times once people master it.

Introduction

The electric vehicle market in India has been steadily growing and offerings from many manufacturers are on sale in the country. Tata Motors leads the way with the Tigor EV (priced at Rs. 12.49 - 13.64 lakh) and Nexon EV (priced at Rs. 14.79 - 19.24 lakh), while MG sells the ZS EV (priced at Rs. 22.00 - 25.88 lakh), which is the most sorted EV this side of the luxury marques. There is also the Mini Electric, priced at 48.70 lakh. These cars are doing well in their respective price brackets and since there are no other electric models on offer in their segments, they are ruling unchallenged.

Then, there is a big price jump and the EVs in the next segment (Audi e-tron, BMW iX, Jaguar I-Pace and Mercedes EQC) are priced around Rs. 1 crore.

Now, Kia is entering the EV market in India with the EV6 “crossover”, which is aligned to what the company terms “Techno Green Innovation”. The car will be brought to India through the CBU route (VIN details indicated that the cars used for the drive at Buddh International Circuit were built in Korea). The EV6 will be positioned above the Carnival in Kia’s product portfolio, making it the new flagship product. During the presentation, there was reference to the Tesla Model Y, which should be an indicator as to how Kia plans to price the EV6. We expect it to be priced in the range of Rs. 60 - 75 lakh. This will mean that the car has no challengers in its price bracket, at least till the time the Hyundai Ioniq 5 or Volvo XC40 Recharge are launched. Kia has allotted 100 units for the Indian market for the first year and bookings will open on May 26, 2022.

The EV6 is Kia’s first ground-up EV. It is based on Hyundai Group's Electric-Global Modular Platform (E-GMP) and features Kia's "Opposites United" design philosophy. It will be offered with a permanent magnet synchronous motor and a 77.4 kWh lithium-ion battery pack. The battery supports ultra-fast charging, which adds 100 km of range in 4.5 minutes. It can be recharged from 10% - 80% in 18 minutes using a 350 kW fast charger (good luck finding that in India), while a 50 kW fast charger takes 73 minutes for the same.

Kia claims that the EV6 offers a range of more than 500 km as per European test norms (AER). It is expected to manage perhaps over 500 km in ARAI tests. The car’s homologation is going on and the exact range will be announced during the launch on 2nd June.

The EV6 will be offered in the GT Line trim with both, single motor and dual-motor variants. The single motor RWD variant packs 226 BHP and 350 Nm, while the AWD version produces 222 BHP & 350 Nm at the front / 98 BHP & 255 Nm at the rear. That’s a combined output of a whopping 321 BHP and 605 Nm!

The exterior design is very bold and stylish with sleek lines and contours that run all along the body line + the bonnet. Smart use of design elements can be seen all over the car. For a change, everything somehow falls in place without anything glaringly standing out, which hasn't been the case with many new cars. This car looks very sharp and would be well accepted by a wide audience, without polarising opinions. The EV6 rides on 19" alloy wheels shod with 235/55 section tyres. What’s noteworthy is that the car’s ground clearance has been increased from 165 mm to 178 mm for India! Very, very important IMHO.

The car will come in 5 colours – Moonscape (our personal favourite), Snow White Pearl, Runaway Red, Aurora Black Pearl and Yacht Blue. The Aurora Black reminded me of my friend's Standard (Rover) 2000, which he had painted shiny jet black, back in the 1990s.

The interiors, on the other hand, come in only one colour option, which is black. The quality and feel of the materials used is mostly very good and there are some nice, premium touches like the checkered finish on the passenger side of the dashboard and brushed aluminum on the central console. However, if you are expecting premium-class wood veneer and polished surfaces, you are in for a disappointment. On the other hand, you can expect everything to be well put together and long lasting, made with European flavor in abundance. While the cars used for our preview drive had different materials for the seats, the ones that will be sold in India will have black suede & off-white vegan leather upholstery. The choice of “vegan” is part of Kia’s green initiatives for the future. I found the front seats to be super comfortable. They have all the adjustments one will normally ask for. The seats are sporty and super supportive.

While the black interiors will not get soiled easily, the dark shade of the upholstery along with the sloping roof line at the back, makes rear seat passengers feel claustrophobic. Rear legroom is abundant, especially with the front seats moved forward or even set for sub-6-foot-tall front users. The flat floor helps in extracting more space at the rear. The downside is that, with the overall raised floor due to the battery placement, the under-thigh support is negligible. This is not really a car for sitting in the rear seat on long drives.

Luggage space is good enough with a 520L boot, and a 20L (AWD) or 52L frunk (RWD). The boot floor has an additional removable section, which can increase the loading area depth by about 2 inches. It can also be used to store valuables out of sight. There is no spare wheel, not even a space saver! No tools provided either. This will pose major problems in real life driving conditions as India isn't like Europe or USA where you can try roaming without a spare wheel. A subwoofer, along with the rest of the EV stuff, occupies the place of the spare wheel, jack and tools.

One needs to be cautious while folding the rear seatbacks from the boot. While it is super convenient, pulling the lever folds the seats rather hard and fast. So, if there are delicate items kept on the rear seat, expect them to be crushed. The folding mechanism is built tough, but that makes it equally tough to pull the seat back in place.

The young tech-savvy entrepreneur, who according to Kia is the potential customer, will expect a lot at the price at which the EV6 is likely to be launched. So, it is inevitable that the car has to be very well equipped. Kia has loaded the EV6 with all the features one would expect. Some of the features available include dual 12.3" screens, 10-way power-adjustable front seats with memory function for the driver's seat, suede & vegan leather upholstery, dual-zone automatic climate control, UV cut glasses, paddle shifters for regeneration, multi-drive modes, connected car technology, adaptive headlamps, rain-sensing wipers, vehicle-to-load and a wireless smartphone charger. The GT-Line AWD variant (which we drove) comes with an Augmented Reality head-up display, powered tailgate, sunroof (not panoramic), automatic flush-fitting door handles and a Meridian sound system with 14 speakers.

If the geek in you wants to see what the 12.3" screens can do, go ahead and check out this link. You scan a QR code on the system to get this link on your smartphone. Let me assure you that it will take at least half a Sunday for you to just go through the various menus and settings on this one. Good thing that most of them are, at best, 3-4 clicks deep.

On the safety front, the EV6 comes equipped with 8 airbags, 360-degree camera, adaptive LED headlights, all-wheel disc brakes with ABS and brake assist, ESC, hill-start assist control, multi collision brake assist, VSM as well as ADAS. The list of ADAS features includes forward collision avoidance assist, lane keep assist, safe exit assist, lane follow assist, blind-spot detection with collision-avoidance assist, rear-cross traffic alert and smart cruise control with stop & go functionality. All the radar-based systems are configured for the real world and hence, would not work on a wide track like the Buddh International Circuit. Some of the instructors managed to get lane guidance working in a few corners.

You will never run out of charging points in this car. You can use this EV as a massive power bank to charge your gadgets and gizmos...and then some. At the front, there are two USB ports, two 12V power outlets and a wireless charging pad. Rear passengers get two USB ports and one full-fledged 250V 16A power outlet. Then, there is another power outlet in the boot. If these are not enough, one can easily run any household appliance including a microwave, plasma TV and even a refrigerator using the Vehicle to Load (V2L) connection. We’re not kidding! The plasma TV used for the presentation was powered from the display car! One can even help fellow EV owners with a top up, if they run out of juice through a Vehicle to Vehicle (V2V) connection using a regular ICCB cable.

Driving the Kia EV6

It was our bad luck that it started raining cats & dogs at 6.00 AM in Greater Noida, and when we reached the Buddh International Circuit at 7.00 AM, there was a full-fledged storm. At 9.00 AM, it was not clear whether the track would be opened for the drive. We saw steel plates flying off and falling in the pit area, barely missing an EV6. Things somehow mellowed down and it was decided that we will have a brief session on the track. We were reminded multiple times of the conditions; these were normal street cars and needed to be treated accordingly. We started with an instructor at the wheel for a demo drive on a short loop of Buddh. The track was wet, but the car behaved well with moderately aggressive turn-ins. The traction control system along with the electric motors, makes it very safe and does not allow for any unwanted spins or slips like internal combustion engine cars. It feels and is very safe that way.

Then came my chance to have my two short laps of the circuit. The longer lap was yet to be cleared for driving. Turn the jog dial from P -> D and start off slowly. The EV6 will drive just like any other car, minus the sound from the engine. Mind you, the only EV I had tried before this was an Ather - a small, peppy scooter that goes off with a “wheeee”. But in an EV6, there is absolute silence. There is no whine or any other audio feedback, unless you switch on the electronics which play different themes over the speaker. I would personally keep them off and instead, switch on the relaxing tones option and enjoy the Zen-like calm. Depending on the pressure on the accelerator pedal, the power drive will be gentle, mild or shove you back into the seat.

There are 3 driving modes:

• Eco - Feels like how a normal 150-180 BHP turbo-charged car would.
• Normal - Gives you about 30% more rush. While keeping the A-pedal at the same position, you hit the drive mode button on the steering wheel to engage Normal mode from Eco and the car will lunge forward eagerly with this change. There is a remarkable difference.
• Race - Lets all the kV’s into the motor and makes it a maniac. Expect yourself to be shoved back into the seat with the passengers screaming. We did a dash from 0 to 100 km/h in 5.6-ish seconds with 3 adults in the car. In a matter of seconds, you are doing silly speeds. This car has an electronically-limited top speed of 192 km/h and we could easily achieve that on the straight stretches of the track, even in wet conditions! There is absolutely no wheel spin or drama. The electric motor along with the electronics ensures that all the power is put on the ground and not even 1 kV is wasted.
• Snow - This mode is hidden. One needs to press and hold the mode button to activate it. We missed driving in this mode, but I guess it is for tricky, slippery conditions that you find in cold countries during the winter.

The same mix of electric motors and the various stability programs can make the driving experience very uninvolving and boring on turns. In a normal internal combustion engine car, there is a lot of feedback that the driver will receive from the steering, engine, gearbox and brakes. In an EV, there is just the steering and then, the regen braking and normal brakes. The missing engine makes a huge difference to the driving experience for someone new to EVs.

The regenerative braking system has four levels, from mild to hard. This can be quickly accessed by using the paddles, which is well thought out. It’s just like using the paddles for downshifting to get more and more engine braking. In the highest regen mode, this vehicle can be driven with just the A-pedal. The regen braking can bring the vehicle to a stop. Hence, a keen and focussed driver would be able to recover a lot of lost energy during normal driving, enhancing the usable range. Then, there is “Auto” mode, which adjusts the regen braking based on various parameters including radar-guided cruise control (if activated) or on driver inputs. When I tried to use the paddles in Auto mode, the system kept flashing a message saying, “conditions are not met”, so I assume the paddles were being bypassed or the braking, along with the wet conditions, did not allow it to get more aggressive. Personally, I am a big fan of this regen braking, especially with the paddles. I felt that brings some fun and involvement into driving an EV.

Handling-wise, the car is very neutral. You can push it extremely well. I have driven normal ICE cars such as the Volkswagen Polo GTi, Jaguar F-Type, Mercedes AMG and BMW M cars, and ridden shotgun in Ferraris on tracks around the world and all of them need a good deal of driver attention in corners or they will bite back, squirm and squeal. The EV6 - on the other hand - just goes around corners like it’s on rails. The electronic aids plus the electric motor would be terrific for track times once people master it. Again, there is no intrusive traction control cutting in. It is all seamless. During the entire drive, only one momentary intervention I could sense was in the steering and that too when I took an aggressive turn + the wheels were on the wet kerbs. The whole car with its sound deadening, EV tech, etc. make it a very Zen-like place to be. One would love it or hate it, missing all the sensory feeling of riding in a normal motor car (sorry internal combustion engine car), while there would be others who appreciate the refinement.

Coming to the ride, the EV6 seems to be decent from our experience when we tried it on whatever undulated surfaces we could find inside the circuit, but it would be foolish to say it is great from just this drive. I feel the suspension set up is on the stiffer side, but definitely does not feel like a bone-jarring one. We'll be driving this car on regular roads soon and will update the thread.

Front end features a sleek clamshell bonnet along with adaptive LED headlamps, and an angular lower bumper that accentuates the width of the car:

Rear is where you will see some bulk, but those LED lamps with a jewel like arrangement for the turn-indicators are pretty neat:

The side is the best angle to view the car from, with the character lines clearly visible. There is a silhouette puddle light that is hidden on the C-pillar (yes, C-pillar):

Closer look at the headlamp cluster with integrated multi-array front indicators:

Fully protected and absolutely flat undercarriage. Battery area has a metal plate, but the rest of it is a fiber and plastic combo. 178 mm ground clearance should be adequate:

Powered recharge flap. Those lines indicate the charge level and charging:

With the rear LED turn-indicators in action. Otherwise, they look like brushed aluminium jewels. Neat touch:

Here is the EV6 in the Aurora Black Pearl paint. How many of you are reminded of the Standard 2000? A modern take on it, we feel:

Here is the EV6 in the Aurora Black Pearl paint. How many of you are reminded of the Standard 2000? A modern take on it, I feel:

The displays seem to be the right size and not just a huge tablet in your face. There are two screens here - one for the infotainment head-unit and a second one for the instrument cluster:

Seats have the right bolstering and the headrest is not intrusive, although it looks like the face of ET:

Touch controls have a mode button where the function changes from HVAC to media. This is tricky at first, yet easy to get used to and efficient use of space. Still, people may accidentally turn up the temperature instead of the volume:

It is a maze under the dash and you can see the power lines too:

The downside of all the design touches and battery being underneath. Your leg will get dirty if you are not careful. Shorter folks will find it a stretch to reach the ground:

Normally, the rear passenger has negligible under-thigh support:

With the front seat pushed ahead, the rear passenger can stretch his legs and then, the under-thigh support is alright. But this is not a very comfortable position to sit in for long:

This is not a large sneaker that I am wearing, yet there is no place underneath the front seat to put my feet:

250V, 16A socket is a rare phenomenon even at homes as it is used only for heavy appliances. You can set up a full fledged office with this:

Small quarter glasses are the biggest reason to find it claustrophobic at the rear. Passengers will have their heads next to them while they are seated:

No dearth of space to carry that stuff for weekend camping. Rear seatbacks fold forward in a 60:40 ratio:

Notice the removeable boot floor. You can get 2 more inches of depth. Can store some valuables away from prying eyes here:

Folding the rear seat backrests gives you a luggage capacity of 1,300 liters. You can remove the parcel shelf. A camping bed can be easily accommodated along with a sleeping bag:

20-liter frunk is pretty much useless. That is an iPhone X kept in it to give you an idea about its size:

Continue reading the discussion on the 2022 Kia EV6 on our forum.

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Stocks to Watch Today | Coal India, Hindalco, Infosys and others in news today - Moneycontrol

Stocks to Watch: Check out the companies making headlines before the opening bell.

Results on May 26. Hindalco, Motherson Sumi, Muthoot Finance, Zee Entertainment Enterprises, Aarti Surfactants, Oberoi Realty, Aban Offshore, AllCargo Logistics, Ansal API, Astra Zeneca, Berger Paints, Colgate Palmolive India, Cummins India, Good Year India, Gujarat State Fertilizers Corporation, India Glycols, Jet Airways, Kirloskar Industries, MRO-Tek, NMDC, Page Industries, Prestige Estate Projects, Quess Corp, Shalimar Paints, Sudarshan Chemicals.

NHPC consolidated profit increases 6.8%: The hydro-electricity generating company reported a 6.8 percent year on year rise in March quarter consolidated net profit to Rs 515 crore aided by deferred tax credit of Rs 87.8 crore against a deferred tax expense of Rs 394 crore during the same period last year. Consolidated revenue inched higher by four percent to Rs 1,674 crore. The company has recommended a final dividend of Rs 0.5 per share of Rs 10 each which is in addition to the dividend of Rs 1.31 per share already paid for FY22.

Infosys collaborates with Palo Alto Networks: Infosys collaborated with Palo Alto Networks to create network security solutions that enable global organisations to secure hybrid cloud infrastructure from a single unified platform, while maximising existing investments and integrating SASE and zero-trust architecture components. The companies will enhance these security solutions for their worldwide customers like Mercedes-Benz.

MOIL reports a 13% jump in net profit: MOIL reported a 13 percent year on year jump in March quarter net profit to Rs 131 crore aided by lower inventory costs and other expenses. Revenues increased four percent to Rs 467.9 crore.

Kolte Patil Developers net profit rises 28.6%: Kolte Patil Developers' March quarter net profit rose 28.6 percent year on year to Rs 26.8 crore aided by seven percent improvement in realisations. The revenues for the Pune based developer improved 27 percent to Rs 376 crore.

Coal India consolidated profit surges 46.3%: Coal India consolidated profit surged 46.3 percent for the March quarter to Rs 6,715 crore. Revenues were higher by 22.5 percent at Rs 32,707 crore. Growth was aided by higher production and offtake coupled with increase in average realisations. The company has recommended a final dividend of Rs 3 per share of Rs 10 each for the financial year 2021-22.

Birla Soft promoters will not be participating in the proposed share buyback: Birla Soft promoters will not be participating in the proposed share buyback programme of the company. The company on May 23 had proposed to buy back up to 7,800,000 fully paid shares of Rs 2 each.

Nahar Spinning Mills reports 69% jump in profit: Nahar Spinning Mills reported a 69 percent year on year jump in its profit for the March quarter aided by robust demand and better realisation for yarn. Revenue improved 37.2 percent to Rs 999.37 crore.

Suzlon Energy net loss widens 261%: Suzlon Energy net loss widened 261 percent to Rs 204.3 crore for the March quarter impacted by higher tax expense. Consolidated profit more than doubled to Rs 2,478.8 crore.

Praj Industries profit after tax rises 10.8%: Praj Industries profit after tax for March quarter rose 10.8 percent year on year to Rs 57.65 crore. Revenues jumped 46.2 percent to Rs 829 crore. The company has declared a final dividend of Rs 4.2 per share of Rs 2 per share for FY2021-22.

Torrent Pharma declares a dividend of Rs 23 per share and announces bonus issue: Torrent Pharma declared a dividend of Rs 23 (460 percent) per share of Rs 5 each including a special dividend of Rs 15 per share. The pharma major also announced a bonus issue of 1:1, that is, one share for each fully paid up share held. Consequent to the bonus issue, the total paid up share capital will be Rs 169.22 crore from the existing Rs. 84.62 crore.

V-Mart Retail declares a net loss of Rs 2.6 crore: V-Mart Retail declared a net loss of Rs 2.6 crore for the quarter ended March, up from Rs 1.47 crore a year ago. Revenues jumped 30.4 percent to Rs 458.77 crore. The company witnessed an overall increase in almost all expenses which impacted the bottomline. The firm recommended a final dividend of Rs.0.75 per fully paid up share of Rs 10 each, aggregating to Rs.148.12 lakh for the year ended 31 March 2022.

IIFL Wealth Management declares first interim dividend for FY22-23: IIFL Wealth Management declared first interim dividend for the financial year 2022-23 of Rs 20 per share of face value Rs 2 each. It has fixed record date as 2 June 2022 for this purpose and the interim dividend will be paid on or before 23 June 2022.

Power Finance Corporation net profit rises 10%: State owned Power Finance Corporation has reported a 10 percent year on year increase in consolidated profit after tax to Rs 4,296 crore for the quarter ended March. Consolidated revenue witnessed a modest improvement of four percent to Rs 18,853 crore. Lower finance costs and lower impairment on financial instruments more than compensated for the higher loss on transaction exchange. The company has declared a final dividend of Rs 1.25 per share of Rs 10 each in addition to a dividend of Rs 10.75 already paid during FY2021-22.

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Rupee falls for 12th consecutive day - The Express Tribune

KARACHI:

Pakistani currency maintained its free-fall on the 12th consecutive working day, as it hit a new all-time low of Rs200.93 against the US dollar on Monday amid growing political and economic instability in the country.

A further drop in the domestic currency may not be ruled out following the reports that Doha talks for resumption of the IMF (International Monetary Fund) loan programme may be delayed by a few days or weeks.

The State Bank of Pakistan (SBP), however, aggressively increased the benchmark interest rate by 150 basis points to 13.75% on Monday to support the rupee against the greenback.

The rupee dropped by 0.39% to Rs200.93 against the greenback amid Doha talks, as compared to Friday’s close at Rs200.14, according to the central bank data.

With this fresh devaluation, the domestic currency has cumulatively dropped by a significant 8.21% (or Rs15.24) in the past 12 working days to date.

It has remained under pressure owing to fast depletion in the country’s foreign exchange reserves amid elevated import payments and foreign debt repayments.

The country’s foreign exchange reserves have dropped to a critical low level of six-week import cover at $10.2 billion. The reserves have depleted fast by around $7 billion since January 2022 to $10.2 billion.

Islamabad is to repay $4.5 billion in foreign debt in two months (May and June), while import bill may remain high in May considering the authorities concerned decided to import expensive liquefied natural gas (LNG) to manage the energy crisis at home.

The low reserves and a likely slight delay in resumption of the IMF $6 billion loan programme have increased the risk of default on international payments.

The IMF had conditioned the revival of its multi-billion dollar loan programme with withdrawal of subsidies on petroleum products and electricity. The PML-N coalition government, however, had decided not to pass-on the increase in international oil prices to end consumers in order to avoid a new high wave of inflation.

Experts projected that the inflation reading would spike to 15% or more if the government decides to increase the energy prices.

Market speculations suggest a technocrats’ government may be installed in the centre to take tough economic decisions, like ending subsidies on energy products, and succeed in reviving the IMF loan programme, as Prime Minister Shehbaz Sharif has yet remained unsuccessful in winning consensus from his allies to do so.

The resumption of the IMF programme would help the rupee to partially recover against the greenback.

Gold at record high

The free-fall in rupee’s value took gold prices to a new all-time high at Rs141,650 per tola (11.66 gram) in Pakistan on Monday.

The gold surged by Rs2,350 per tola in a single-day on Monday as compared to Saturday’s close at Rs139,300 per tola, according to All Sindh Saraf and Jewellers Association (ASSJA).

The surge in gold prices is partly seen due to a fresh devaluation of 0.34% in rupee, as the country meets local demand for the commodity through imports.

Besides, an increase of $15 per ounce (31.10 gram) in gold in the global markets to $1,862 per ounce also convinced the local bullion pricing body to revise up the rate.

The rupee-dollar parity, global price of the precious yellow metal and domestic demand would continue to play an important role in determining bullion price for the local markets.

Published in The Express Tribune, May 24^th, 2022.

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Stocks to Watch Today | BPCL, Coal India, Grasim Industries and others in news today - Moneycontrol

Stocks to Watch: Check out the companies making headlines before the opening bell.

Results on May 25: BPCL, Coal India, Deepak Fertilizer, Apollo Hospitals Enterprises, HEG, NHPC, Easy MyTrip, Fortis Healthcare, GMM Pfaudler, InterGlobe Aviation, JaiCorp, Kolte Patil, Bata India, Nalco, PFC, Torrent Pharma, Whirlpool, MSTC.

Indian Hotels | Indian Hotels said its board has reappointed managing director and chief executive officer Puneet Chhatwal for a further term of five years commencing November 6, 2022 up to November 5, 2027 (both days inclusive).

Future Retail | Future Retail Ltd informed exchanges that it won't be able to release its March quarter earnings on May 30 due to board structure imbalance amid multiple resignations by its top level managements. The company said it is taking necessary actions to the fill the vacancies caused by such cessation/resignation. It will announce the captioned results as early as possible after composition of the Board of Directors and the Audit Committee is complied with the provisions of the Act and the Listing Regulations and statutorily capable to approve it.

Bank of India | Bank of India is planning to raise Rs 2,500 crore through either a follow-on offer or a qualified institutional placement in the current financial year. The lender said it will lower government stake to 75 percent from 81 percent.

Grasim Industries | Grasim Industries posted a consolidated net profit of Rs 2,777 crore for the March quarter (Q4FY22), up 62 percent from the year-ago period. Revenue from operations surged 18 percent on-year to Rs 28,811 crore as against Rs 24,402 crore a year back. The company plans to invest Rs 10,000 crore in the paints business over the next three years. It spent Rs 2,437 crore on its capex spent in the fiscal year ending March this year. Out of this, Grasim invested Rs 579 crore in the paints business alone.

Brookfield India REIT | Brookfield India REIT said its board will meet on May 27 to consider fund raising. " Board to meet on May 27 to consider various fund raising options and approve the raising of funds and issue of units of Brookfield India Real Estate Trust, subject to applicable law and, in relation thereto, issue of notice to the unit holders of Brookfield India Real Estate Trust for approval of such fund raise, as applicable" the company said.

Ipca Lab | Ipca Laboratories said its board has approved merging Tonira Exports Ltd and Ramdev Chemical Pvt Ltd, wholly owned subsidiaries with the company, subject to necessary approvals. The firm earlier reported consolidated net profit that fell 19.3 percent on-year to Rs 130.23 crore. Revenue rose 15.6 percent from a year ago to Rs 1,289.10 crore in the quarter.

Metropolis Healthcare | Metropolis Healthcare reported 35 percent on-year drop in net profit to Rs 40 crore in the March quarter. Revenue for the quarter rose 5 percent from a year ago to Rs 306 crore. According to a Bloomberg poll, the firm expected to report a profit of Rs 52.43 crore, while revenue was pegged at Rs 335 crore during the quarter. Total cost rose 20 percent on-year to Rs 255 crore. Earlier, according to news reports, the firm was planning to raise more than $300 million and bring on a strategic partner by selling a major minority stake.

SIS Ltd | SIS Ltd informed exchanges that it has signed definitive agreement for purchase of additional 49.99 percent stake of Terminix SIS India Pvt Ltd from SVM Services Singapore for $100000. SIS and SVM Services (Singapore) Pte Ltd are the shareholders of Terminix and own 50.01 percent and 49.99 percent.

Minda Industries | Minda Industries Ltd said its net profit rose 3 percent to Rs 144 crore in the March quarter as against Rs 140 crore a year ago. Revenue rise 7.90 percent to Rs 2415.08 crore. The firm said its board approved raising Rs 1000 crore through debt. It also approved bonus shares of 1 new share for every share held.

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Great Resignation Set To Continue, One In Five Likely To Seek New Jobs In Next Year | Mint - Mint

The Great Resignation that followed the Covid-19 pandemic is set to continue, as per a new global survey by PwC, with one in five workers around the world saying that they are likely to seek new jobs in the next 12 months.

PwC has launched its “Global Workforce Hopes and Fears Survey 2022" at the World Economic Forum in Davos on Tuesday, which covered 52,195 workers in 44 countries and territories.

PwC’s Global Workforce Hopes and Fears survey found that a desire for higher pay was the main driver for 71% of those seeking new roles. Meanwhile, 35% of workers plan to ask their current employer for a raise.

“The findings are very clear ... you see a significant number of employees concerned about their future employment and their job security," Bob Moritz, global chairman of PwC, said at the WEF.

However, “the power is now, we would argue — in the hands of individuals that are employed."

The poll provides more evidence that the highest inflation levels in decades, and tight labor markets are emboldening workers to seek better compensation.

That may prove concerning for global central banks, who are wary that so-called second round effects from recent prices surges may force them to tighten policy at an even faster pace.

The survey showed pay pressures are highest in the tech sector, where 44% of workers plan to ask for a raise. In the public sector, the figure falls to just 25%.

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Great Resignation Set To Continue, One In Five Likely To Seek New Jobs In Next Year | Mint - Mint
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SEBI issues Rs 3.12-crore demand notice to NSE's ex-boss Chitra Ramkrishna - Moneycontrol

Chitra Ramkrishna

Capital markets regulator SEBI on Tuesday sent a notice to NSE’s former chief Chitra Ramkrishna asking her to pay Rs 3.12 crore in a case related to governance lapses at the stock exchange, and warned of arrest and attachment of assets and bank accounts if she fails to make the payment within 15 days.

The notice came after Ramkrishna failed to pay the fine imposed on her by the Securities and Exchange Board of India (SEBI).

In an order dated February 11, SEBI had slapped a penalty of Rs 3 crore on Ramkrishna for alleged governance lapses in a case related to the appointment of Anand Subramanian as the Group Operating Officer and Advisor when she was at the helm of NSE as its Managing Director and Chief Executive Officer, as well as for sharing confidential information of the company with an unidentified person.

Apart from penalising Ramkrishna, SEBI had imposed a penalty on Ravi Narain, who was the predecessor of Ramkrishna, and Subramanian and others.

In its fresh notice, SEBI directed Ramkrishna to pay Rs 3.12 crore, which includes interest and recovery cost, within 15 days.

In the event of non-payment of dues, the markets regulator will recover the amount by attaching and selling her moveable and immoveable property.

Besides, Ramkrishna faces attachment of her bank accounts and arrest.

Ramkrishna is currently lodged in Delhi’s Tihar Jail after she was arrested by the CBI on March 6 in the NSE co-location scam case and investigation linked to other governance lapses at the bourse.

Last month, the regulator issued similar demand notices to Narain and Subramanian.

In April, the Securities Appellate Tribunal (SAT) admitted Ramkrishna’s plea against the SEBI order in relation to governance lapses at the bourse and directed her to deposit an amount of Rs 2 crore.

The appellate tribunal had also directed NSE to deposit more than Rs 4 crore towards leave encashment and deferred bonus of Ramkrishna in an escrow account as against SEBI’s direction where the amount was to be parked in the Investor Protection Fund Trust.

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SEBI issues Rs 3.12-crore demand notice to NSE's ex-boss Chitra Ramkrishna - Moneycontrol
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