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☆ Consumer companies vie for share of India's booming stock market
▼ + stars: | 2024-10-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

More consumer-centric companies are looking to capitalize on India's booming stock market and strong economic growth, by going public. "After a decade, India's growth story is now likely to be driven by private consumption. With a better macro outlook, the risk appetite for investors for business to consumer companies have gone higher," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. It may have started with large corporations like Reliance and Adani , but the positive macro story is driving more business to consumer companies to list," Singh told CNBC in an interview. India had 238 listings in 2023, reaching a nine-year high with 614 billion Indian rupees ($7.35 billion), according to FactSet data.

Persons: Ola, Atul Singh, Singh Organizations: National Stock Exchange, BMI, LGT Wealth, Reliance, CNBC, Transportation, Hyundai Motor India, Insurance, Hyundai, Ola Electric Locations: Mumbai, India

☆ Jefferies: Japan's mobile gaming developers face market share erosion
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's mobile gaming developers face market share erosion due to competition and saturationAtul Goyal of Jefferies highlights the rising competition from Chinese mobile game developers as a major challenge to market incumbents in Japan.

Persons: Atul Goyal Organizations: Jefferies Locations: Japan

☆ High price of Sony's new PlayStation 5 Pro could make it a 'difficult sell,' says Jefferies
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh price of Sony's new PlayStation 5 Pro could make it a 'difficult sell,' says JefferiesAtul Goyal, managing director at Jefferies, discusses the high price of Sony's new PlayStation 5 Pro.

Persons: Jefferies Atul Goyal Organizations: Jefferies

vehicles, their hoods adorned with Bangladesh’s national flag according to state protocol, idled late one recent evening in a ground-floor parking lot at the University of Dhaka. Just a week before, they were hounded leaders of a youth-driven popular uprising against the country’s seemingly unbreakable prime minister. Now, after her astonishing ouster, the two are cabinet ministers in the country’s interim government. Inside the parking lot, young women and men milled around these unlikeliest of government officials, asking questions and posing for selfies. On a pillar at the entrance, spray-painted graffiti declared the moment: “Revolution is not a dinner party.”Outside, the streets of this country of 170 million people are run by students.

Persons: autocrat, Sheikh Hasina Organizations: University of Dhaka, selfies

☆ Live Updates: Bangladesh Protesters Call for Mass March After Deadly Crackdown
▼ + stars: | 2024-08-05 | by ( Mujib Mashal | Saif Hasnat | ) www.nytimes.com time to read: +7 min

Here’s what to know about why the quota system has become such a point of contention. An old quota system, reinstated recently by the Supreme Court, reserves more than half of those jobs for various groups. The quota system was introduced in 1972 by Sheikh Mujibur Rahman, who led his country’s fight for independence from Pakistan in 1971. Student protests accompanied the appeal, although they were not as violent as this time. She abolished the quota system in 2018 amid calls for its overhaul.

Persons: Sheikh Hasina, Anisul Huq, Zahed Ur Rahman, Rahman, Mohammad Ponir Hossain, Sheikh Mujibur Rahman, Hasina, ”, Asif Nazrul, Atul Loke, Ms, ‘, ’, ” Mr Organizations: University of Dhaka, Awami League, ., Supreme, Bank, United, Rolls Press, Getty, “, The New York Times, Bangladesh Nationalist Party Locations: Pakistan, Bangladesh, Dhaka, United Nations

By age 13, Neeraj Chopra weighed nearly 190 pounds, making him one of the biggest boys in his tiny farming village. By chance, he saw a javelin being thrown and noticed that, in flight, it seemed to shimmy like a fish through water. A decade after that improbable beginning, Chopra won the javelin competition at the Tokyo Olympics in 2021. It was the first gold medal ever won by India in track and field, considered the marquee sport of the Summer Games, and only the country’s second in an individual event in more than a century of Olympic competition. Chopra’s triumph inspired athletes across India, the world’s most populous nation.

Persons: Neeraj Chopra, Chopra Organizations: Tokyo, India, Summer, stoke, Games Locations: India

☆ Fire at India children’s hospital kills six newborns
▼ + stars: | 2024-05-26 | by ( Manveena Suri | Kathleen Magramo | ) edition.cnn.com time to read: +1 min

CNN —At least six newborn babies died in a fire at a children’s hospital in the Indian capital of New Delhi on Saturday, local officials said. Twelve newborns were rescued from the hospital, but six died in the fire, Atul Garg, Delhi Fire Services chief told CNN. One of the rescued babies is in a serious condition, and the five others are receiving medical attention, Garg said. The rescued babies have not been identified as authorities have yet to find their birth records, Garg said. In 2021, 10 newborn babies died in a hospital fire in the western Indian state of Maharashtra.

Persons: Atul Garg, Garg Organizations: CNN, Delhi Fire Services Locations: New Delhi, Delhi, Maharashtra

Blum turned to programs mostly in states where abortion access — and, by extension, abortion training — is likely to remain protected, like California, Colorado, and New Mexico. The AAMC analysis found the number of applicants to OB-GYN residency programs in abortion ban states dropped by 6.7%, compared with a 0.4% increase in states where abortion remains legal. For internal medicine, the drop observed in abortion ban states was over five times as much as in states where abortion is legal. The AAMC analysis notes that even in states with abortion bans, residency programs are filling their positions — mostly because there are more graduating medical students in the U.S. and abroad than there are residency slots. Stulberg and others worry that this self-selection away from states with abortion restrictions will exacerbate the shortages of physicians in rural and underserved areas.

Persons: — Isabella Rosario Blum, Blum, —, “, ”, Atul Grover, ” Jack Resneck Jr, Wade, Resneck, Beverly Gray, Gray, Duke, Rohini Kousalya Siva, Kousalya Siva, “ We’re, Debra Stulberg, Stulberg, Hannah Light, Olson, Dr, Sanjay Gupta Organizations: Health, —, Association of American Medical Colleges, KFF Health, OB, Research, Action Institute, American Medical Association, Duke University School of Medicine, MedStar Washington Hospital Center, Washington , D.C, D.C, American Medical Student Association, Department of Family Medicine, University of Chicago, University of California, CNN, CNN Health, Residents, KFF Locations: Arizona, California , Colorado, New Mexico . Arizona, Seattle, Midwest, U.S, North Carolina, Washington ,, Maryland , New Hampshire , New York, Washington, Virginia, Tennessee, San Francisco, California, New York

In the small Bombay theater that showed big films, his father brought him — over and over again — to see the biggest of them all. With every one of his 18 viewings of “Mughal-e-Azam,” a hit 1960 musical about a forbidden romance between a prince and a courtesan, the young boy fell more in love. The rays of light, beamed in black and white, opened to him a world at once majestic and lost. The music swept him to places that only later in life would he fully understand. India, cinema and music — they would all change, too.

Persons: —, ”, Sanjay Leela Bhansali — Organizations: Alankar Talkies Locations: Bombay, Mumbai, India

☆ India's market cap can 'easily' jump ten-fold in the next two decades, economist says
▼ + stars: | 2024-04-09 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion. India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, analysts said. After overtaking Hong Kong in December, the country's market is now ranked the fourth largest in the world, valued at over $4.6 trillion. "India's GDP growth has led to companies increasing their earnings and that is resulting in the stock market performance," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. The country's financial year starts on April 1 and ends on March 31.

Persons: Sujan Hajra, Anand Rathi, Manish Chokhani, Atul Singh Organizations: Hong, Enam Holdings, BSE, LGT Wealth, India's Ministry, Statistics Locations: India, Hong Kong

☆ India’s Silicon Valley Faces a Water Crisis That Software Cannot Solve
▼ + stars: | 2024-03-31 | by ( Damien Cave | Atul Loke | ) www.nytimes.com time to read: 1 min

The water tankers seeking to fill their bellies bounced past the dry lakes of India’s booming technology capital. Their bleary-eyed drivers waited in line to suck what they could from wells dug a mile deep into dusty lots between app offices and apartment towers named for bougainvillea — all built before sewage and water lines could reach them. At one well, where neighbors lamented the loss of a mango grove, a handwritten logbook listed the water runs of a crisis: 3:15 and 4:10 one morning; 12:58, 2:27 and 3:29 the next. “I get 50 calls a day,” said Prakash Chudegowda, a tanker driver in south Bengaluru, also known as Bangalore, as he connected a hose to the well. “I can only get to 15.”

Persons: bougainvillea, “, ”, Prakash Chudegowda Locations: Bengaluru, Bangalore

☆ Sony plunged $10 billion after its PS5 sales cut. But a bigger issue is its near decade low games margin
▼ + stars: | 2024-02-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Around $10 billion of value was wiped off Sony's stock last week, after the Japanese tech giant cut its sales forecast for its flagship PlayStation 5 console for the fiscal year. Analysts, who already thought Sony's PS5 target was too lofty, told CNBC a bigger issue for the company are its declining margins in its key gaming business. The company's shares fell after the announcement, with around $10 billion of value wiped off the stock since the forecast cut, according to a CNBC calculation using FactSet data. By contrast, Sony's operating margin was more than 9% in the December quarter of 2022. "The shipment forecast cut for PS5 ... is not what is disappointing ... What is disappointing is the low level" of operating margin, Atul Goyal, equity analyst at Jefferies, said in a note to clients on Wednesday.

Persons: Atul Goyal Organizations: PlayStation, CNBC, Sony, Jefferies

☆ Nintendo's stock could rise by 30%, say analysts — if it overcomes these hurdles
▼ + stars: | 2024-02-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Gibson, a senior research analyst at financial services firm MST Marquee, has set a price target of 11,000 Japanese yen ($74) for Nintendo's stock. This represents a 31% upside over the current price. He told the investment bank's clients that Nintendo could delay the Switch 2 launch if the momentum for the current console remains strong. The analyst has rated Nintendo a buy but set a conservative price target of 8,400 yen. However, if the new console fails to gain traction with consumers, Gibson cautioned that Nintendo's stock is likely to miss his price target.

Persons: David Gibson, Gibson, Mario, That's, isn't, Jefferies, Atul Goyal, Goyal, Junko Yamamura, — CNBC's Arjun Kharpal Organizations: Nintendo, Super Nintendo, Universal Parks & Resorts, Mario Bros, CNBC, Citi Locations: United States, Germany, Florida

They fanned out across the vast country, knocking on doors in the name of a cause that would redefine India. These foot soldiers and organizers, including a young Narendra Modi, collected millions of dollars to be socked away for a long fight to build a grand Hindu temple in Ayodhya, in northern India. The bricks, the campaign’s leaders declared, would not just be used for the temple’s construction on land occupied for centuries by a mosque. They would be the foundation for a Hindu rashtra, or Hindu nation, that would correct what right-wing Hindus saw as the injustice of India’s birth as a secular republic. Mr. Modi, today the country’s prime minister, will inaugurate the Ram temple in Ayodhya on Monday — the crowning achievement of a national movement aimed at establishing Hindu supremacy in India by rallying the country’s Hindu majority across castes and tribes.

Persons: Narendra Modi, Ram, Modi Organizations: Mr Locations: India, Ayodhya

☆ Nintendo is expected to launch the 'Switch 2' console this year. Here's what to expect
▼ + stars: | 2024-01-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Splatoon 3 proved to be a hit in Japan, helping keep momentum for Nintendo's ageing Switch console. Nintendo has sold 132.46 million units of the Switch, making it the company's second-most successful console after the handheld Nintendo DS. If the Switch remained popular in the holiday quarter then Nintendo could push a new console out to the Fall of this year, Goyal said. If Switch sales dropped in the December quarter, the new device could come as early as Spring or Summer, he added. Kantan Games' Toto said he expects the successor to be a "new device and not just an upgrade."

Persons: Philip Fong, Mario, Zelda, Serkan Toto, Piers Harding, Atul Goyal, Goyal, I'm, Nintendo's, Harding, Rolls, Toto, Moffett Nathanson, Will Organizations: Nintendo, AFP, Getty, CNBC, Kantan Games, Ampere, Jefferies, Mario Bros, Moffett Locations: Japan, Tokyo

☆ Pressure Mounts on Private Equity-Backed Company Finance Chiefs as Market Shifts
▼ + stars: | 2023-11-27 | by ( Laura Kreutzer | ) www.wsj.com time to read: 1 min

Nick Leopard, left, founder and CEO of Accordion, and Atul Aggarwal, the company’s president, shown seated in the company’s New York headquarters. Photo: justine knight photographyAs private-equity firms intensify their focus on performance of businesses they back, the finance chiefs at those companies increasingly feel the heat to deliver as markets shift. “CFOs are under more pressure than ever before,” said Nick Leopard , chief executive of private markets consulting firm Accordion. “They’re not expected to [just] close the books anymore. They need to be more focused on strategic issues.”

Persons: Nick Leopard, Atul Aggarwal, justine, ”, “ They’re Locations: York

☆ Indian rescuers hope to reach 41 trapped in tunnel on Thursday
▼ + stars: | 2023-11-23 | by ( Saurabh Sharma | ) www.reuters.com time to read: +3 min

SILKYARA, India, Nov 23 (Reuters) - Rescuers in India hope to finish drilling through debris on Thursday and free 41 men trapped in a highway tunnel in the Himalayan region after a metal obstacle slowed progress, officials said. The men began the twelfth day of their ordeal confined in the 4.5-km (3-mile) tunnel in Uttarakhand state since it caved in early on Nov. 12. Once the drill breaks through, officials said they plan to send rescuers through the evacuation pipe, using stretchers on wheels, to bring out the trapped men. [1/2]An ambulance arrives at the tunnel where workers are trapped after the tunnel collapsed in Uttarkashi in the northern state of Uttarakhand, India, November 23, 2023. REUTERS/Shankar Prasad Nautiyal Acquire Licensing RightsA rescue mission is currently underway at the Silkyara tunnel in Uttarakhand to free 41 workers who are stuck inside following a landslide.

Persons: Atul Karwal, Bhaskar Khulbe, Shankar Prasad Nautiyal, Pushkar Singh, Gabbar Singh Negi, Saba Ahmed, Narendra Modi's, YP Rajesh, Clarence Fernandez Organizations: Authorities, Force, Rescuers, REUTERS, National Highways Authority, YP, Thomson Locations: SILKYARA, India, Uttarakhand, Uttarkashi, Pushkar

☆ Sony profit slides on chip slump, maintains PS5 sales target
▼ + stars: | 2023-11-09 | by ( Sam Nussey | ) www.reuters.com time to read: +3 min

Profit for the quarter was 263 billion yen ($1.74 billion). That compared with a 306 billion yen estimate from 10 analysts polled by LSEG. The conglomerate sold 4.9 million PS5 units in the second quarter, bringing sales this financial year to 8.2 million units. Sony hiked its full-year sales forecast for the games unit by almost 5% to 190 billion yen. The company maintained its full-year operating profit at 1.17 trillion yen but raised its sales and net income forecast by 2% each.

Persons: Mike Blake, Hiroki Totoki, Jim Ryan, Jefferies, Atul Goyal, Sam Nussey, Muralikumar Anantharaman, Kim Coghill Organizations: Sony, REUTERS, LSEG, Industry, Bungie, Nintendo, Microsoft, Thomson Locations: Rancho Bernardo, California, TOKYO

☆ 'Mario Wonder' latest mushroom power-up for Nintendo Switch
▼ + stars: | 2023-11-08 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

Signage for the Nintendo Switch is seen at a GameStop in Manhattan, New York, U.S., December 7, 2021. The Japanese firm said it sold 4.3 million copies of "Super Mario Bros. Wonder" - the first entirely new instalment in the almost 40-year-old side-scrolling series in a decade - within two weeks of its Oct. 20 launch. That is the best performance of any "Super Mario" title, Nintendo said, as it takes advantage of the Switch install base of more than 130 million units and interest generated by a barnstorming animated movie featuring the moustachioed plumber. The comments come a day after Nintendo reported it sold 6.84 million Switch units in the first six months of the financial year that started in April, a slight increase on the same period a year earlier. Nintendo also announced on Wednesday "Super Mario" creator Shigeru Miyamoto is developing a live action adaptation of the "Zelda" franchise.

Persons: Andrew Kelly, Mario, Shuntaro Furukawa, Zelda, Shigeru Miyamoto, Kong, Jefferies, Atul Goyal, Sam Nussey, Christopher Cushing Organizations: Nintendo, GameStop, REUTERS, Rights, Thomson Locations: Manhattan , New York, U.S, Kyoto

The anthem they stand for at the beginning of every game belongs to a republic that was toppled two years ago. Yet Afghanistan’s athletes have become the unlikely — and widely celebrated — heroes of the Cricket World Cup that is underway in India. In a tournament followed by hundreds of millions of people across the globe, they have defeated the defending world champions and two former titleholders handily. When they win, players sing and dance from the dugout, to the team bus, to their hotel rooms. The Afghan cricket team’s accomplishments are amplifying what has already been an astonishingly speedy rise in sports history.

Organizations: Cricket Locations: India

Purbasha Roy held her 9-year-old daughter’s hand and pointed toward the towering art installation: blooming pink buds symbolizing embryos, menstrual cups shaped to form a bouquet, fallopian tubes descending from corners of the ceiling. The work, part of a makeshift pavilion to worship the Hindu goddess Durga, was designed to break taboos in India about menstruation. And it had a clear target: A half-man, half-bull demon at Durga’s feet, an organizer explained to Ms. Roy and others, represented the “moral police” — India’s patriarchal society. The pavilion was one of hundreds, many politically pointed, that dotted Kolkata during a five-day festival called the Durga Puja, an event that brings this muggy, sleepy city alive each year as if jolted by a high-voltage current. Part Mardi Gras, part Christmas, the festival, which ended on Tuesday, is the most important religious celebration for Hindus in this part of eastern India.

Persons: Purbasha Roy, Durga, Roy, ” Locations: India, Kolkata

☆ Modi's government and some of India's elites are battling for control of one of the country's most elite private clubs
▼ + stars: | 2023-10-15 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

The Delhi Gymkhana Club is one of the oldest and most elite private clubs in India. AdvertisementAdvertisementMembers of the Delhi Gymkhana — one of the oldest private clubs in India — are trying to wrest back control after India's far-right government seized it in 2022. The club was first established by British colonists in 1913 as a sporting club called the Imperial Delhi Gymkhana, according to its website . Some of the club's members say that the government takeover is part of the BJP's broader agenda to control the country's social institutions. Ajai Shukla, a former army colonel, said the takeover reflects motivations to control "instruments of privilege and hand them out as favors."

Persons: —, Narendra Modi, Bharatiya Janata Party —, Ajai Shukla, Atul Dev, Dev Organizations: Delhi Gymkhana, Service, Imperial Delhi Gymkhana, Salute Magazine, Financial Times, Bharatiya Janata Party, Hindustan Times Locations: Delhi, India, Imperial

☆ Cost-cutting isn't the only thing driving Sony's strategy, Jefferies says
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCost-cutting isn't the only thing driving Sony's strategy, Jefferies saysAtul Goyal of the investment bank says Sony's decision to operate in Europe is "not cost cutting" but a "strategic change."

Persons: Jefferies, Atul Goyal Locations: Europe

The case concerns a former senior IT manager who raised concerns about how a data loss had been handled. A hearing for Barclays' appeal to the Bombay High Court is listed for Oct. 20, court records show. They declined to comment on the specifics of the Indian case. Gupta has also appealed to the Bombay High Court, court records show, arguing the pay-out awarded was too low, the source familiar with the appeals said. Last year, Gupta also filed a secondary civil case against Barclays, another court filing shows.

Persons: Atul Gupta, Jes Staley, Francesca West, Gupta, Arpan Chaturvedi, Sinead Cruise, Alexander Smith Organizations: Barclays, Reuters, Financial, Authority, FCA, Global Service Centre Private Limited, Bombay High Court, Thomson Locations: Indian, Pune, Bombay

☆ Sony's leadership shakeup is not a move to bring gaming division back to Japan: Jefferies
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSony's leadership shakeup is not a move to bring gaming division back to Japan: JefferiesAtul Goyal, managing director for Jefferies, talks about the retirement of Sony's gaming chief Jim Ryan, and the challenges ahead for the business.

Persons: shakeup, Jefferies Atul Goyal, Jefferies, Jim Ryan Locations: Japan

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