Mukesh Ambani will not take any salary till 2029, RIL seeks approval from shareholders to extend tenure by 5 years

By

-

August 7, 2023

Reliance board has sought approval to extend Mukesh Ambani’s tenure as chairman and MD by 5 years. If this approval is received, then Mukesh Ambani will continue to hold the post of MD and Chairman of the company till 2029. He has remained in this post since the death of father Dhirubhai Ambani.

Reliance Industries, the country’s most valuable company, has sought approval from the shareholders to make Mukesh Ambani the chairman and MD of the company for the next five years i.e. till 2029. During this, Mukesh Ambani will not take any kind of salary from the company. Please tell, at present Mukesh Ambani’s age is 66 years. According to the Companies Law, if the Chief Executive of a company has to continue as the head of the company even after 70 years, then a special resolution is required to appoint him.

If this proposal is approved, Mukesh Ambani’s new term as MD and Chairman will be effective from April 19, 2024.

What was said in the special resolution: This special resolution from Reliance said that Mukesh Ambani would be 70 years old by April 19, 2027. The company has grown manifold under his leadership. It would be in the interest of the company that he continues to lead the company. For this reason, it is proposed to extend his tenure for another 5 years.

Mukesh Ambani on the board of Reliance since 1977 Mukesh Ambani has been on the board of Reliance since 1977 and became the company’s chairman in 2002 after the death of his father Dhirubhai Ambani. Since then till now he has been continuously in this post. During his tenure, the company has been able to increase its market cap, profits and earnings manifold.

Salary not taken after Corona From the financial year 2008-09 to the financial year 2019-20, Mukesh Ambani used to get a salary of Rs 15 crore annually from Reliance, but he left it due to Corona.

Reliance will set a blaze in the finance world through Jio Financial Services

By

Team Happen Recenttly

-

August 7, 2023

Jio Financial Services

On behalf of Mukesh Ambani, the company’s annual report said that the objective of Jio Financial Services is to provide simple, affordable and innovative digital first solutions to the customers. The company has partnered with BlackRock to enter the mutual fund business. Along with this, the company has 6.1 percent stake in Reliance Industries.

The statement of Chairman and MD Mukesh Ambani has come to the fore after the separation of Jio Financial Services from Reliance Industries. In the Annual Report of Reliance Industries, he has said that the objective of Jio Financial Services is to provide simple, affordable and innovative digital first solutions to the customers.

Further in the report, he said that Jio Financial will provide financial services by taking advantage of Reliance’s technology capabilities. Also, it will democratize financial services for Indian citizens.

Jio Financial Services was separated from Reliance Industries in July Last month itself, Reliance Industries separated its financial services company Reliance Strategic Investments Limited and changed its name to Jio Financial Services Limited (JFSL). Its shares will be listed soon.

It was said in the report that the income of the new company may be less, but it has 6.1 percent share of Reliance Industries and recently the company has announced a partnership with BlackRock for mutual fund business.

Ambani’s track record in setting up new businesses is excellent Mukesh Ambani’s track record in setting up new businesses for Reliance is quite impressive. His company Reliance Jio is the largest telecom company in the country. The company has 430 million subscribers. In the retail segment too, at present, Reliance Retail has become the largest company in the country.

75,000 crore investment in renewable energy The report said on behalf of Ambani that the company aims to achieve the goal of Net Zero Carbon by 2035. Reliance is investing Rs 75,000 crore in renewable energy.

Indian Rupee vs Dollar: Rupee rises against dollar, closes with a gain of 5 paise

By

Team Happen Recenttly

-

August 7, 2023

Indian Rupee vs Dollar

Today both the indices of the Indian stock market have closed with gains.This morning also there was a rise in the rupee against the dollar. RBI’s monetary policy decision will be pronounced on August 10.

Dollar vs Rupees: In Monday’s session, the rupee closed with gains against the dollar. Today the rupee has gained 5 paise to close at 82.76. Forex traders said, however, continued outflow of foreign funds and a strong US currency in the overseas market weighed on investor sentiment.

Trading in rupees At the interbank forex market, the local unit opened at 82.73 against the US dollar and moved in the range of 82.71 to 82.77 during the day.

The rupee finally settled at 82.76 (provisional), up 5 paise from Friday’s previous closing level of 82.81.

From the technical side, spot USD/INR has given a bullish breakout on the weekly charts. It is eyeing an all-time high of 83.30 and may take support at the long term moving average line of 82.25. The dollar index, reflecting the strength of the US currency, rose 0.33 percent to 102.35. The dollar index shows the dollar’s position against the world’s six major currencies. Global oil benchmark Brent crude futures fell 0.94 per cent to USD 85.43 per barrel.

The Indian stock market today closed at 65,953.48 with the 30-share BSE Sensex rising 232.23 points or 0.35 per cent. The broader NSE Nifty rose 80.30 points, or 0.41 per cent, to 19,597.30. Foreign institutional investors (FIIs) sold shares worth Rs 556.32 crore on Friday, according to exchange data.

India’s foreign exchange reserves declined by USD 3,165 billion to USD 603.87 billion in the week ended July 28, the RBI said on Friday. This is the second consecutive weekly decline in the reserves after a decline of USD 1.987 billion to USD 607.035 billion in the previous week.

Paytm Share Price: Paytm’s stock rose up to 11 percent, this became the reasons

By

Team Happen Recenttly

-

August 7, 2023

Paytm’s stock has seen a jump of 11 percent. The reason behind this is the acquisition of 10.3 per cent stake in Paytm from Antfin by CEO Vijay Shekhar Sharma. This is a non cash deal. Paytm management will not be affected by this deal. Sharma will continue to be the CEO of the company.

Shares of One97 Communications, the company that operates fintech platform Paytm, saw a jump of up to 11 percent on Monday. The reason behind this was the acquisition of 10.30 percent stake in Paytm held by Antfin (Netherlands) on behalf of the company’s founder and CEO Vijay Shekhar Sharma. It is an off market transfer and non-cash deal.

Trading in Paytm’s stock After this news, Paytm’s stock opened 11.43 percent higher at 887.70 on the NSE. At the same time, the stock started at Rs 887.55 on BSE with a gain of 11.57 per cent. However, the stock could not maintain its gains and was trading at 848.70, up 6.54 per cent by 12 noon. The stock touched a high of 887.70 and a low of 844.55 during the trading session so far.

What is the deal Under this deal, Sharma will buy 10.3 percent stake held by Antfin and in return OCDs will be issued by the company to Antfin. However, Antfin will still retain the economic rights. In the information given by the company to BSE, it was said that no payment will be made in cash for this acquisition, nor any guarantee, mortgage or any other promise has been made by the company.

There will be no impact of this deal on the management. Vijay Shekhar Sharma will continue to be the MD & CEO of the company and there will be no change in the board of the company. Also, none of Antfin’s nominees will be on the board of the company. Antfin is a subsidiary of the Chinese company Ant Group Company.

Exploring Niche Markets: Identifying Untapped Opportunities for Indian Start-ups

By

Team Happen Recently

-

August 7, 2023

In the fast-paced and competitive world of entrepreneurship, identifying untapped opportunities is a key driver of success for Indian start-ups. While entering a popular market may seem tempting, exploring niche markets can offer unique advantages, allowing entrepreneurs to carve their own path and differentiate their offerings. This article delves into the importance of niche markets, the benefits they offer, and strategies for identifying and capitalizing on untapped opportunities.

The Significance of Niche Markets

1. Reduced Competition:

Niche markets are often overlooked by larger companies, leading to reduced competition. Entering a niche market gives start-ups the chance to establish a strong foothold and build brand loyalty before facing more significant competition.

2. Targeted Audience:

Niche markets consist of a specific target audience with distinct needs and preferences. By catering to the unique requirements of this audience, start-ups can create highly tailored products or services, increasing the chances of customer satisfaction and loyalty.

3. Increased Profit Margins:

In niche markets, start-ups can charge premium prices for specialized offerings. Customers are often willing to pay more for unique and personalized solutions that address their specific pain points.

4. Brand Authority and Expertise:

Focusing on a niche allows start-ups to position themselves as experts and thought leaders in that particular field. This helps build brand authority, credibility, and trust among customers and industry peers.

Identifying Untapped Opportunities

1. Analyze Existing Markets:

Conduct thorough market research to identify industries or sectors that are underserved or have gaps in their offerings. Analyze consumer behavior, competitor landscape, and emerging trends to spot untapped opportunities.

2. Listen to Customer Feedback:

Pay attention to customer feedback and pain points in current markets. Understanding what customers are looking for and what is missing in existing solutions can lead to the discovery of new niche opportunities.

3. Explore Emerging Technologies:

Keep an eye on emerging technologies and industries. As technologies evolve, new niche markets may arise, offering potential for disruption and innovation.

4. Leverage Data and Analytics:

Utilize data and analytics tools to gather insights into consumer behavior, demand patterns, and market trends. Data-driven decision-making can uncover hidden opportunities in niche markets.

Capitalizing on Untapped Opportunities

1. Unique Value Proposition:

Develop a clear and compelling value proposition that highlights the unique benefits of your product or service. Clearly communicate how your offering addresses specific pain points in the niche market.

2. Build Relationships:

Niche markets often thrive on strong relationships and word-of-mouth referrals. Build genuine connections with customers, industry influencers, and stakeholders to create a network of support.

3. Test and Iterate:

As with any new venture, testing and iteration are essential in niche markets. Continuously gather feedback, make improvements, and adapt your offerings based on customer needs and market dynamics.

4. Marketing and Branding:

Craft targeted marketing strategies to reach the niche audience effectively. Utilize digital marketing, social media, content marketing, and SEO tactics to create brand awareness and drive engagement.

Exploring niche markets presents an incredible opportunity for Indian start-ups to differentiate themselves and tap into uncharted territory. By identifying untapped opportunities and leveraging their unique value propositions, entrepreneurs can position their ventures for long-term success and growth. The pursuit of niche markets requires creativity, research, and an unwavering commitment to meeting the specific needs of the target audience.

As Indian start-ups venture into unexplored domains, they have the chance to become pioneers, disruptors, and industry leaders. The rewards of successfully navigating niche markets extend beyond financial gains, as they also provide the satisfaction of making a meaningful impact and catering to the unmet needs of consumers.

In conclusion, niche markets represent a treasure trove of untapped opportunities for Indian start-ups, waiting to be explored and harnessed. By embracing innovation, customer-centricity, and adaptability, entrepreneurs can chart a course towards success in the dynamic landscape of niche entrepreneurship.

Latest= https://happenrecently.com/zepto/

Women Entrepreneurs Driving Change: Empowering Start-ups and MSMEs in India

By

Team Happen Recently

-

August 7, 2023

In recent years, there has been a remarkable rise in the number of women entrepreneurs in India, defying societal norms and breaking barriers. These trailblazing women are not only driving change but also transforming the landscape of start-ups and Micro, Small, and Medium Enterprises (MSMEs) in the country. Empowered with determination, creativity, and resilience, women entrepreneurs are playing a pivotal role in shaping India’s economic growth and fostering innovation.

The Empowerment of Women Entrepreneurs

1. Economic Growth and Job Creation:

Studies have shown that women-owned businesses contribute significantly to the nation’s economy. According to a report by McKinsey, advancing women’s equality in India could add $770 billion to the GDP by 2025. As more women venture into entrepreneurship, they not only create job opportunities for themselves but also for others, leading to inclusive growth.

2. Diversification of Industries:

Women entrepreneurs are diversifying the range of industries in which they operate. From technology and finance to fashion and healthcare, women-led start-ups and MSMEs are venturing into various sectors, bringing fresh perspectives and innovative solutions.

3. Bridging the Gender Gap:

By becoming entrepreneurs, women are actively closing the gender gap in business ownership and leadership roles. Their success serves as an inspiration for aspiring female entrepreneurs, breaking traditional stereotypes and encouraging others to follow suit.

4. Social Impact and Sustainability:

Women entrepreneurs are more likely to prioritize social and environmental causes. Their businesses often align with sustainable practices and social responsibility, making a positive impact on society and the environment.

Challenges and Struggles

Despite their significant contributions, women entrepreneurs face various challenges in their journey towards success:

1. Access to Finance:

Limited access to capital and credit remains a major hurdle for women entrepreneurs. They often struggle to secure funding and investment compared to their male counterparts.

2. Balancing Family and Business:

The societal expectation of women to juggle family responsibilities and business operations can be overwhelming. Striking a work-life balance becomes a constant challenge for women entrepreneurs.

3. Gender Bias and Stereotyping:

Women entrepreneurs often encounter gender bias and stereotypes in the business world. They have to overcome the perception that certain industries or leadership roles are better suited for men.

4. Networking and Mentorship Opportunities:

Building a strong network and finding mentors within the industry can be difficult for women entrepreneurs, as they are often underrepresented in leadership circles.

Driving Change: Strategies for Empowerment

1. Access to Finance and Resources:

Governments and financial institutions should create dedicated funds and programs to support women-led businesses. Providing easier access to credit, grants, and resources can enable women entrepreneurs to grow their ventures.

2. Skill Development and Training:

Training programs and workshops focusing on leadership, entrepreneurship, and financial management can equip women entrepreneurs with the necessary skills to navigate the business landscape successfully.

3. Mentorship and Networking Initiatives:

Establishing mentorship programs and networking events exclusively for women entrepreneurs can foster a supportive ecosystem, providing valuable guidance and opportunities for growth.

4. Promoting Women-Led Ventures:

Public and private sectors should actively promote and collaborate with women-led start-ups and MSMEs. Partnering with such ventures can lead to mutual growth and drive diversity in business.

The rise of women entrepreneurs in India is a testament to the power of determination and resilience. Women-led start-ups and MSMEs are driving innovation, creating job opportunities, and contributing to India’s economic growth. However, to fully unleash the potential of women entrepreneurs, it is imperative to address the challenges they face and provide a supportive ecosystem for their growth.

Empowering women entrepreneurs is not just about gender equality; it is about unlocking the immense potential that lies within them and harnessing it for the betterment of society and the economy. As women entrepreneurs continue to drive change and break barriers, India’s start-up and MSME ecosystem will witness unprecedented growth, innovation, and inclusivity.

Latest= https://happenrecently.com/zepto/

Dr. Pratik Appointed as Provost of All Asia: A New Era of Educational Excellence Begins

By

Team Happen Recently

-

August 7, 2023

The Council of Global Accreditation for Private Universities and College Association (CGAPUCA) is delighted to announce the appointment of Dr. Pratik as the Provost of All Asia. This momentous occasion marks a significant milestone in the world of academia as Dr. Pratik is the first young Indian who assumes a new role in spearheading educational excellence and progress across the region.

With a proven track record of exceptional teaching, groundbreaking research, and an unwavering commitment to transformative education, Dr. Pratik is a trailblazer in the field. His dedication to the advancement of knowledge and the empowerment of students and educators has garnered him widespread acclaim and respect from the educational community worldwide.

As Provost of All Asia, Dr. Pratik will play a pivotal role in assisting institutions and universities to elevate their standards and achieve new levels of academic distinction. CGAPUCA’s decision to appoint him to this esteemed position reflects their confidence in his ability to lead, innovate, and bring about positive change in the educational landscape.

In his new capacity, Dr. Pratik will focus on bridging the gap between students, teachers, and institutions, aiming to foster a dynamic learning environment where excellence thrives. He is determined to facilitate collaboration and knowledge exchange between educational entities, enabling them to collectively address the challenges of the modern educational paradigm.

“I am deeply honored and excited to take on the role of Provost of All Asia,” said Dr. Pratik. “I believe that education is the cornerstone of progress and societal development. As Provost, my mission is to nurture a culture of innovation, inclusivity, and sustainability within the academic community. Together, we will empower students and teachers alike, preparing them to be leaders and changemakers in a rapidly evolving world.”

The appointment of Dr. Pratik comes at a crucial juncture when the global educational landscape demands adaptability and resilience. With his vision and expertise, he is poised to guide institutions and universities through these transformative times, steering them towards a future of academic excellence and relevance.

On behalf of CGAPUCA, we extend our warmest wishes to Dr. Pratik as he embarks on this remarkable journey as Provost of All Asia. His passion, determination, and commitment to education will undoubtedly inspire and uplift the educational community and set new standards of excellence.

We invite all stakeholders in the educational realm to join us in congratulating Dr. Pratik on this momentous occasion and supporting him in his pursuit of creating a brighter future for students, teachers, and institutions.

About CGAPUCA:
The Council of Global Accreditation for Private Universities and College Association (CGAPUCA) is a globally recognized accreditation body committed to promoting quality education, research, and innovation across private educational institutions and universities worldwide.

Threads can be used not only on the phone, but also on the PC, Mark Zuckerberg…

By

Team Happen Recenttly

-

August 6, 2023

Threads

Meta Threads Desktop Version Coming Soon If you also use Meta Threads, then this new update can be of your use. In order to woo its users, Meta CEO Mark Zuckerberg has made a new announcement for Threads users. Information about bringing the desktop version of the platform has been found in Zuckerberg’s latest threads post.

If you use Meta’s newly launched text based app Threads then this information may be of your use. Threads can now be used not only on mobile but also on PC. Actually, Meta CEO Mark Zuckerberg has shared new information about Instagram’s latest app Threads.

Mark Zuckerberg made a new announcement for Threads users

Mark Zuckerberg has offered to bring a desktop version to Threads users. According to information given on a latest thread post by Mark Zuckerberg, this feature will be introduced very soon for users on threads.

Sharing a post with Threads users, Zuckerberg described this week as special for the platform. He said that the option of search and web is being brought for the users in the coming weeks. The MetaThreads team is currently working on these two features, so the rollout of these two features will be revealed with the latest updates.

Declining number of active users on threads

It is known that for the last few days, good news is not coming for the company regarding the active users of meta threads. While Instagram’s Twitter killer text-based app Threads was successful in wooing users in the initial phase, user interest for the platform seems to be waning.

In the initial phase, Meta Threads had crossed the mark of 1 million active users in just 5 days of launching. This app even beat OpenAI’s popular ChatGPT chatbot in terms of wooing users. According to a new report, the time spent by iOS and Android users on threads has come down considerably.

Foreign portfolio investors started selling after three months, withdrawal of more than 2 thousand crores in August

By

Team Happen Recenttly

-

August 6, 2023

Foreign portfolio investors

After three months of continuous buying, foreign portfolio investors (FPIs) started selling in Indian markets. FPIs sold shares worth Rs 8545 crore during the last seven trading sessions. Whereas in August i.e. in the last four trading sessions, there has been a withdrawal of Rs 2034 crore. Know what is the reason for withdrawal. Read the full news.

After three months of continuous buying, foreign portfolio investors (FPIs) have now started selling in the Indian markets. During the last seven trading sessions, FPIs sold shares worth Rs 8,545 crore.

FPI withdraws more than 2 thousand crores

FPIs pulled out Rs 2,034 crore from equity markets in the four trading sessions in August. VK Vijayakumar, chief investment strategist at Geojit Financial Services, says that FPIs have withdrawn from Indian markets due to the rise in US 10-year bond yield (interest rate). Foreign investment in emerging markets may decrease if the interest rate of these bonds remains above 4 percent.

Selling may continue

According to Vijayakumar, with US bond yields remaining high, FPIs may continue selling or stay away from buying. According to data from the National Securities Depository Limited (NSDL), FPIs have invested a total of Rs 1,37,603 crore in the domestic equity markets in the last three months.

FPIs are buying in this area

FPIs are continuously buying in auto, capital goods and financial sector sectors. Apart from this, changing the investment strategy, FPIs have also started buying shares in the IT sector. Due to this, the stocks of IT companies have also registered strength in recent times.

According to Siddharth Khemka, head of retail research at Motilal Oswal, equity markets have seen some respite after three consecutive days of selling pressure. The main reason for this has been the rapid growth in the service activities of the country.

Google Maps VS Apple Maps: From navigation to traffic information

By

Team Happen Recenttly

-

August 6, 2023

Google Maps VS Apple Maps:

Google and Apple provide map facilities to their users. These platforms of Google and Apple work differently from each other. The restaurant information for dining on Google Maps does not provide advanced options such as take away offers, food price information. At the same time, Apple users also get this information for dining with Apple Maps.

For Android users, the facility of Google Maps is useful for the information of the routes. Similarly, Apple users get the facility of Apple Maps for information about unknown routes.

On both the platforms, users get the facility of navigation and almost similar features. Despite this, both these platforms do different things for the users. In this article, we are trying to understand the difference between these two platforms of Google and Apple.

navigation

First of all, talking about navigation, on Google Maps, the user gets the facility of multidimensional view feature to see the surrounding location.

walking

On Google Maps, users get the facility of arrows for navigation while walking. This feature is available with the Live View feature on Google Maps for destinations.

traffic

The user gets the facility of traffic updates on the Maps platform of both Google and Apple. Traffic update information can be taken live during realtime ie traveling. However, the facility of 3D road level feature is also offered for better convenience to the Apple users.

dining out

On Google Maps, users get details of restaurant name, address and phone number in the information of nearby restaurants for dining. At the same time, Apple users also get information about advance options like take away offers, food price, range in restaurant information for dining.

Company

Categories

Capital

Happen Recently