Most parts of India likely to record above-normal maximum and minimum temperatures in January, says IMD

A Cabinet meeting, chaired by Chief Minister Pinarayi Vijayan, decided on Wednesday to recommend to the Governor that the 13th session of the 15th Kerala Legislative Assembly be convened from January 17.

According to a CMO release, a cabinet sub-committee has been constituted to prepare the Governor's policy address.

The members of the sub-committee are ministers K N Balagopal, K Rajan, Roshy Augustine, K Krishnankutty, and A K Saseendra

Most parts of India likely to record above-normal maximum and minimum temperatures in January, says IMD

North India to get below normal rainfall in January to March period, says IMD.

Weather News Live Updates: 2024 warmest year in India since 1901, says IMD

Four dead, two injured as car hits stationary truck in Jalna district, says police.

The Special package on DAP @ Rs 3,500 per MT will be provided for the period 01.01.2025 till further orders over and above the approved NBS subsidy to ensure smooth availability of DAP fertilizer to the farmers at affordable price.

Cabinet nod for one-time special package of up to Rs 3,850 crore for DAP fertiliser, says  Union Minister Ashwini Vaishnaw.

• Cabinet Approval: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) until 2025-26.
• The total financial outlay for the schemes is Rs 69,515.71 crore for the period 2021-22 to 2025-26.
• Objective: To provide risk coverage for crops against non-preventable natural calamities for farmers across the country until 2025-26.
• Technology Infusion: The Cabinet has approved the creation of a Fund for Innovation and Technology (FIAT) with a corpus of ₹824.77 crore.
• The fund will support large-scale technological advancements in implementing the schemes to enhance transparency, claim calculation, and settlement processes.
• Utilisation of FIAT: Funding technological initiatives like YES-TECH, WINDS, and other projects.Supporting Research and Development (R&D) studies under the schemes.

The Cabinet has approved the continuation of the PM Fasal Bima Yojana and the Restructured Weather-Based Crop Insurance Scheme, according to the Information and Broadcasting Minister.

• Qualified Institutional Buyers (QIBs) - 10.70 times
• Non Institutional Investors(NIIS) - 83.44 times
• Retail Individual Investors (RIIs) - 36.54 times
• Total - 39.21 times

The Indo Farm IPO GMP has risen by up to 45%, as the issue continues to attract strong demand in the primary market. On the second day of subscription, Wednesday, the Indo Farm Equipment Ltd IPO was subscribed 36 times, reflecting robust investor participation. The Rs 260-crore issue, with a price band of Rs 204-Rs215 per share, is set to close on January 2. (Read More)

Starting from New Year's Day, any ride on the last Metro between Kavi Subhash (New Garia) and Dum Dum on the north-south corridor (Blue Line) in Kolkata will incur an additional Rs 10 charge. From January 1, commuters of Kolkata Metro will need to pay a fixed Rs 10 "surcharge" on any ticket, in addition to the fare, for Metro trains departing from these two stations at 10:40 pm, Monday to Friday. For smart card users, Rs 10 will be deducted from the balance on the card.

• Puneet Khurana, co-founder of Woodbox Café in Delhi, was found dead at his residence in Kalyan Vihar, Model Town, on Tuesday evening. Police suspect the 34-year-old died by suicide.
• According to NDTV, Khurana and his wife, Manika Jagdish Pahwa, were in the process of getting a divorce. Officials told NDTV that the couple was allegedly involved in a dispute over their business. (Read More)

Multi-factor authentication (MFA) will be made mandatory for taxpayers to enhance security on the GST portal. Furthermore, E-Way Bills (EWBs) can only be generated for base documents that are not older than 180 days.

• Starting January 1, 2025, EPFO will streamline the pension withdrawal process through the centralised pension payment system (CPPS). Pensioners will be able to withdraw their pensions from any bank across the country, eliminating the need for additional verification.
• Reports indicate that EPFO will soon issue an ATM card, allowing subscribers to withdraw funds at any time. Additionally, the EPF contribution cap is expected to be removed later this year.

Nishant Pitti, one of the promoters of Easy Trip has resigned as the CEO of the company effective January 1, citing personal reasons, an exchange filing said. Rikant Pittie, the CFO of the company and Nishant's bother, has been appointed as the CEO with immediate effect.  (Read More)

PTI quoted Deputy Commissioner of Police (DCP) for Central Lucknow, Raveena Tyagi as saying, "The accused, Arshad (24), is believed to have killed five members of his own family. After the gruesome act, the local police swiftly apprehended him at the crime scene."

Five members of a family were discovered murdered inside a hotel in Lucknow early on Wednesday, according to reports from news agency PTI, citing the police. The accused, identified as 24-year-old Arshad, has been arrested. Deputy Commissioner of Police (DCP) for Central Lucknow, Raveena Tyagi, confirmed that the incident occurred at Hotel Sharanjit in the Naka area of the Uttar Pradesh capital.

• Qualified Institutional Buyers (QIBs) - 8.11 times
• Non Institutional Investors(NIIS) - 36.70 times
• Retail Individual Investors (RIIs) - 21.23 times
• Total - 21.07 times

• President-elect Donald Trump said he would attend next week's state funeral for Jimmy Carter, the former U.S. president who died on Sunday at the age of 100, and predicted that only House Speaker Mike Johnson could win the vote for the House's top job.
• As Trump entered a New Year's Eve Party at his Mar-a-Lago home in Florida on Tuesday, he was asked by a reporter whether he planned to be on hand for Carter's funeral at the National Cathedral on Jan. 9 in Washington, D.C.(Reuters)

When it came to equity capital market transactions across the globe in 2024, the Indian market stood out like a parakeet among sparrows. With 337 issues (mainline and SME), it rose to the top in global IPO volumes for the first time, storming ahead of the US, which had 183 issues and listing more than two and half times as many as Europe, as per a recent EY report. (Read More)

The latest Grey Market Premium (GMP) for the Indo Farm Equipment IPO is Rs 95, as of January 1st, 2025, 05:05 AM. With the upper price band set at Rs 215, the estimated listing price for the Indo Farm Equipment IPO is Rs 310 (cap price + today's GMP). This indicates an expected percentage gain of 44.19% per share.

As India enters 2025, oil marketing companies have reduced the prices of the commercial 19-kg LPG cylinder in various metro cities. In Delhi, the price has been cut by Rs 14.5, bringing it down to Rs 1,804, effective from January 1, 2025. This price reduction follows five consecutive months of hikes in commercial LPG prices.

Indo Farm Equipment IPO Live: Addressing whether investors should apply for the book-built issue, Palak Devadiga, Research Analyst at StoxBox, stated, “At the upper price band, the issue is priced at a P/E ratio of 51.8x based on FY24 earnings, which is relatively high compared to its peers. However, considering the company's improving sales, growth-focused investments in its NBFC, and favorable industry trends, we assign a ‘SUBSCRIBE’ rating to the issue."

UPI monthly value stays above Rs 20 lakh crore for the eighth consecutive month in December. Volumes at 16.73 billion reach a new high

Indo Farm Equipment IPO Live: As of March 2024, the Indo Farm Equipment IPO is priced at a P/E ratio of 51.81x, higher than the industry average of 43.82x, indicating a valuation that is relatively expensive compared to its peers. However, considering the company's growth potential and market positioning, Canara Bank Securities recommends subscribing to the issue for the long term, particularly for investors with a high-risk appetite.

The year 2025 kicks off with several notable changes in the banking and financial sectors. The Reserve Bank of India (RBI) has implemented new guidelines for fixed deposits (FDs) with Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs), along with a requirement for credit information data to be updated every fortnight. Additionally, banks are introducing minimum spending criteria for credit cardholders seeking access to airport lounges and other services. (Read More)

• Prime Minister Narendra Modi took to X to extend new year wishes.
• "May everybody be blessed with wonderful health and prosperity," he said in the post

Aryaman Financial Services is serving as the book-running lead manager for the Indo Farm Equipment IPO, with Mas Services acting as the IPO registrar.

The price band for the Indo Farm Equipment IPO has been set at Rs 204 to Rs 215 per share. At the upper end, the company aims to raise Rs 260.15 crore through a book-built issue comprising a fresh issue of 86 lakh equity shares valued at Rs 184.90 crore and an offer-for-sale of 35 lakh shares totaling Rs 75.25 crore.

The company plans to utilize the net proceeds from the IPO for several key initiatives: Rs 70 crore will be allocated to establishing a dedicated facility to enhance the production capacity of Pick & Carry Cranes, Rs 50 crore will be used to repay or settle specific loans, and Rs 45 crore will be invested in its NBFC subsidiary, Barota Finance, to strengthen its capital base for future needs. The remaining funds will be allocated for general corporate purposes.

The Indo Farm Equipment IPO saw an overwhelming response on its first day, with overall subscriptions reaching 17.71 times. The portion reserved for retail investors was subscribed 18.55 times, while the Non-Institutional Investors (NII) category saw the highest demand at 28.57 times. The Qualified Institutional Buyers (QIB) segment was subscribed 8.10 times. A total of 15,00,14,832 share applications were received against the 84,70,000 shares on offer as of Tuesday.

At the upper end of the price band, the company plans to raise Rs 260.15 crore through its book-built issue. This includes a fresh issue of 86 lakh equity shares valued at Rs 184.90 crore and an offer-for-sale of 35 lakh shares totaling Rs 75.25 crore.

Today marks the second day of tractor manufacturer Indo Farm Equipment's public offer, which is set to close tomorrow. The IPO price band for Indo Farm Equipment has been fixed at Rs 204 to Rs 215 per share. Meanwhile, we are closely monitoring significant financial changes that take effect starting today. In other updates, check out the AQI levels and temperature in Delhi-NCR for the latest environmental insights.