Category: Personal Finance

ITI Mutual Fund launches banking and financial services fund, BFSI News, ET BFSI

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ITI Mutual Fund has announced the launch of ‘ITI Banking and Financial Services Fund’. The NFO will be available for subscription till November 29. Minimum application amount is Rs 5,000 and in multiples of Rs. 1 thereafter. The fund will be jointly managed by Pradeep Gokhale and Pratibh Agarwal. This is the 15th fund launched by the AMC in two years of its existence.

The fund will invest in banking and financial services which will include banks, insurance companies, rating agencies and new fintechs that are emerging among others.

“Banking and Financial Services are well regulated in India and have witnessed uninterrupted growth over the last few years. The fund house is confident of offering a unique investment experience to its investors by adopting a diligent and research-backed investment process. The fund house follows the investment philosophy of SQL – Margin of Safety, Quality of the business and Low Leverage, and offers a superior investment experience to its investors,” said George Heber Joseph, Chief Executive Officer and Chief Investment Officer, ITI Mutual Fund.

According to the press release, the current AUM of the fund house is Rs 2,239 crore as on 31st October, 2021. Out of the total AUM, equity AUM accounted for Rs 1,588 crore while hybrid and debt schemes accounted for Rs 319 crore and Rs 333 crore respectively.



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2 MidCap Company Stocks to Buy As Recommended By ICICI Securities

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Buy East India Hotels with upaide potential of 23%

East India Hotels’ stock has a ‘Buy’ recommendation from ICICI Securities, with a price target of Rs. 180. At the present price of Rs. 146, potential investors can make a 23 percent profit.

Q2FY22 Results

  • Due to higher revenues, the operational performance exceeded our expectations. However, impairment loss had a negative influence on the bottom line.
  • Revenues increased by 233.6 percent year over year to Rs 201.6 crore (or 70% of pre-Covid levels), owing to high demand from the leisure category.
  • Operating losses were also reduced to Rs 12.3 crore (compared to an I-direct forecast of an EBITDA loss of Rs 45.9 crore).
  • A loss of Rs 27.4 crore on non-current investments by a subsidiary resulted in a net loss of Rs 50.4 crore.

Target and Valuation

“The b/s provides strong immunity to weather the challenges while strategic property locations provide visibility to ride on the longterm tourism growth story. Hence, we remain positive on the company with BUY rating on the stock. Target Price and Valuation: We value company at | 180 i.e. 30x FY23E EV/EBITDA,” the brokerage has said.

Key triggers for future price-performance:

In the next three to four years, the current crisis will limit overall room supply in the industry, bode good for branded businesses like EIH.

Expect company to recover to 94 percent of pre-Covid levels by FY23E, with EBITDA exceeding pre-Covid levels; margins are expected to be close to 23 percent; venturing into the premium café industry has the potential for long-term value development.

Buy Nesco with upside potential upto 22%

Buy Nesco with upside potential upto 22%

ICICI Securities has a ‘Buy’ recommendation on Nesco, with a price objective of Rs. 770. Potential investors can make a 22 percent profit at the current price of Rs. 629.

Company update

Nesco had a sluggish FY21 and H1FY22, but is on the mend thanks to higher IT park occupancy and a steady pick-up in the show industry.

Revenues were increased 26 percent year over year in Q2FY22, coming in at Rs 80.8 crore. The IT park’s sales increased by 18 percent year on year to Rs 65.2 crore, while exhibition revenues were flat. EBITDA increased by 62.3 percent year over year to Rs 50.3 crore, while PAT increased by 54 percent to Rs 44 crore.

Target and Valuation

“Nesco’s share price was up ~65% over the past five years. We maintain BUY rating on the stock. With improved occupancies in IT park and gradual recovery in exhibition business, earnings recovery to be sharp, going ahead Target Price and Valuation: We value Nesco at Rs 770/share,” the broekrage has said.

Key triggers for future price performance

Exhibition business will progressively rebound with improved vaccination rates and economic recovery, with pre-Covid run rates projected by H2FY23.

Improving IT park occupancy and identifying a strategic sweet spot in the Goregaon micro market to ensure long-term demand for existing and planned capex.

Dsiclaimer

Dsiclaimer

The above stock has been picked from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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India Ratings sees NBFCs, HFCs AUM rising 10% in H2FY22; GNPAs to increase

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“Financing condition will remain conducive in 2HFY22, backed by the easy money conditions.

Non-banking finance companies (NBFCs) and housing finance companies (HFCs) will likely see 10% year-on-year growth in assets under management in the second half of the current financial year (H2FY22), with a fall in disbursements, India Ratings and Research (Ind-Ra) said in a release on Tuesday.

The rating agency said since the second wave of Covid-19, especially during the July-September period, the risk appetite in the system has reasonably improved led by strong corporate performance, better external conditions and sustained ultra-loose monetary policy conditions. “Financing condition will remain conducive in 2HFY22, backed by the easy money conditions.

Easy money is a precursor for corporate capex (capital expenditure), especially in the aftermath of crisis. However, owing to the tepid domestic demand, large capex activities are still not visible, barring a few pockets,” the rating agency said.

Higher commodity prices will boost demand for working capital loans in H2FY22 and, thus, demand for short-term funds could rise. “…diversification in product lines supported by a wider product basket will be key for NBFCs and HFCs to sustain loan growth in a cyclical downturn. HFCs continue to see a demand uptick due to higher consumer affordability, backed by stamp duty cuts in few states, lower interest rates and reverse migration,” India Ratings said.

On the asset quality front, India Ratings expects gross non-performing asset ratio (GNPAs) of NBFCs to rise to 7.3% by the end of the current fiscal year from 6.8% in the April-June quarter. For housing finance companies, gross non-performing assets will likely rise to 3.8% by March-end from 3.6% in the quarter ended June, the agency said.

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This Company Will Soon Be Issuing Bonus Shares In The This Company Will Soon Be Issuing Bonus Shares In The Proportion Of 2:1: Check If You Own It Of 2:1: Check If You Own It

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Planning

oi-Roshni Agarwal

|

In a BSE filing on Tuesday (November 16, 2021), Indian Energy Exchange (IEX) said we would like to inform you that the Company has fixed Monday, December 06, 2021 as the ‘Record Date’, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 2 (Two) Equity Shares of Rs. 1/- each for every 1 (One) existing Equity Share of Rs. 1/- each, subject to the approval of shareholders which is being obtained through Postal Ballot.

This Company Will Soon Be Issuing Bonus Shares In The Proportion Of 2:1

This Company Will Soon Be Issuing Bonus Shares In The Proportion Of 2:1: Check If You Own It

This 2:1 bonus shares issue means that if you already own 1 share in the IEX scrip, you will be entitled to get 2 additional new shares. So, your total holding of shares in the company will be 3 shares instead of 1 share.

As per the company, bonus shares shall be issued out of the free reserves resulting from the company’s profits as at the end of FY21. In the September ended quarter, the company’s shares registered a massive surge of 72 percent, outpacing just 16 percent gains on the S&P BSE Power Index, while on a YTD basis the stock has registered gains of 255%.

In the just concluded September quarter, the company logged 69 percent YoY growth in standalone net profit at Rs. 78 crore. The company’s revenue from operations also posted gains of 56 percent YoY to Rs. 109 crore.

Indian Energy Exchange is the country’s first and premier energy marketplace. The company offers an automated and transparent trading platform for the physical delivery of electricity, renewables, and certificates. The company powered by advanced, intuitive and customer centric technology enables efficient price discovery and facilitates the ease of power procurement.

GoodReturns.in

Story first published: Tuesday, November 16, 2021, 23:13 [IST]



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Buy This Workforce Company Stock For 24% Gains, Says HDFC Securities

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Q2FY22 highlights:

Revenue at the professional services firm stood at Rs. 15.2 billion, up 10.7% QoQ. Core/specialised/HR services revenue was up +10.0/+17.4/+12.7% QoQ. EBITDA margin for core staffing/specialised staffing/HR services came in at 1.7/9.1/4.3%.

Free cash balance at the company is at Rs. 2.4 billion that the company may deploy for M&A transactions. The cash collections continue to be robust (OCF/EBITDA at 100%).

Outlook:

Outlook:

“We expect revenue growth of 25.3/20.6% in FY23/24E and EBITDA margin of 2.3/2.5% respectively, leading to revenue and EPS CAGRs of 25% and 40% over FY21-24E”, adds the brokerage firm in the report.

Rationale for ‘Buy' call on Teamlease

Rationale for ‘Buy’ call on Teamlease

• The brokerage firm retains its ‘buy’ call on the scrip after a better-than-expected revenue growth of 10.7% QoQ and in line margin show.

• Robust development in hiring across major domains such as ecommerce,telecom, consumer, and BFSI, the inclusion of 59 new logos as well as improved hiring outlook across industries will aid growth in the core staffing segment that accounts for 90 percent of the company’s revenue.

• The specialised staffing (8% of revenue) will continue to grow, led by traction in IT hiring, increase in open positions/hiring across domains, and improvement in realisations.

• For the general staffing, HDFC believes margins shall remain in a narrow band due to the increasing wage costs. Specialised staffing and positive contribution from HR services on the other hand will aid in margin expansion.

The company made provision of Rs. 750mn for PF trust investments in two NBFCs. The brokerage believes that the company was late in providing for these provisions as this is an old issue; however, we don’t expect further provisions. “We reduce our EPS estimates by -6.6/4.0% for FY23/24E to factor in lower margin for general staffing. Our target price of Rs. 5,270 is based on 43x Dec-23E EPS (five-year average PE of ~35x). The stock is trading at a PE of 47/36x FY23/24E”, adds the report.

Disclaimer:

Disclaimer:

The given stock recommendation is taken from the brokerage report of HDFC Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

GoodReturns.in



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J&K L-G Manoj Sinha, BFSI News, ET BFSI

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Jammu and Kashmir Lieutenant Governor Manoj Sinha on Tuesday said investments in the Union Territory are expected to reach Rs 35,000 crore by December 2021 and proposals for Rs 25,000-crore funding have already been received. Sinha highlighted the key reforms and steps taken for managing the UT’s economy during COVID-19, its growth potential and focus areas, besides putting across issues that require consideration by the Union government during interaction with Finance Minister Nirmala Sitharaman, in a meeting chaired by her.

Highlighting the steps taken for growth in the economy, the lieutenant governor said ”the investment in J&K is expected to reach Rs 35,000 crore by December 2021 and proposals for Rs 25,000 crore have already been received”. He said that land has been approved for proposals worth Rs 1,700 crore. ”Out of 6,000 acres of land earmarked for the development of industrial estates, 3,000 acres have already been identified.”

On the steps taken for managing the economy, the lieutenant governor said a holistic package of Rs 1,353 crore was announced during last year for inclusive growth by which 3.44 lakh account of borrowers involving Rs 750 crore were benefitted by an interest subvention of 5 per cent under business revival. The Union finance minister held interactions with chief ministers, finance ministers of all states and lieutenant governors of UTs via virtual conference, with a view to enhance the investment climate in the country and to step up investment, infrastructure, and growth through a consultative process in the post-pandemic world. Speaking on the tourism sector, Sinha outlined that the J&K Tourism Policy 2020 has been notified to boost the sector.

He said the tourist footfall has increased manifold in the UT during winter months. From 1,935 tourists in June 2020, the number has increased to 12,82,572 in September 2021, he added. Sinha also observed that the tax collection has shown significant growth and resilience and the UT is expecting to achieve the targets of the GST and excise collection over the remaining period of the year. Elaborating on the key focus areas of the UT, the Lt Governor said that after the democratic decentralisation in the spirit of 73rd and 74th constitutional amendment Act, 14 sectors have been identified for investment at a large scale with special focus on tourism and employment.

He said export promotion for agricultural and horticulture products, revival of handicraft and traditional art in J&K, development of heritage sites and enhancing pilgrimage tourism, and sports infrastructure improvement, among others, are priorities. Sinha added that under the Mission Youth, first-of-its-kind initiative, focus is being laid on livelihood generation, education and skill development, counseling, financial assistance, sports, and recreation with 4,500 youth clubs under process of establishment.

Moreover, under Mumkin, 250 vehicles have been distributed among eligible youth for their sustainable livelihood in transport sector, and 200 women applicants have been facilitated for generating their livelihood via Tajeswani scheme, he said. The lieutenant governor also put forth the challenges and issues faced by the UT, including resource gap, higher cost of delivery of services due to unique topography.

He also highlighted the issue of pending approvals of tourism projects under the Prime Minister’s Development Package (PMDP). He highlighted that J&K has been number one in the country for enforcing reforms in expenditure management and account of each penny is available in public domain. The funds are being spent after following all the norms.



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Motilal Oswal Suggests To Buy This Infrastructure Stock For +70% Upside

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2QFY22 results of Ashoka Buildcon Limited

According to the brokerage “Ashoka Buildcon (ASBL)’stopline grew 5% YoY to INR9.2b in 2QFY22 and was 8% below our estimate. It de-grew 9% on a QoQ basis. The EBITDA margin was down 341 bps YoY and came in at 11.5% in 2QFY22 (in line with our estimate). EBITDA/PAT fell 19%/9% YoY to INR1.1b/INR0.96b (v/s our estimate of INR1.2b/0.8b). Other income grew 19% YoY to reach INR590m in 2QFY22.”

Motilal Oswal has stated that the company’s “OB stood at ~INR119b, with an OB/revenue ratio of ~2.8x, providing comfort on revenue growth. The management’s major focus in the future would be on Roads/Railways, which has 70% share of the order book. The Building, Power T&D, and other segments account for a 30% share. The pending exit of the private equity investor in its asset portfolio would be a key monitorable. A strong order book – coupled with a healthy ordering outlook and continuous improvement in the balance sheet – augurs well for ASBL”

Key highlights from management commentary according to Motilal Oswal

Key highlights from management commentary according to Motilal Oswal

  • The management has revised the revenue growth guidance for FY22 to 20%, from 25% provided earlier, due to delays witnessed in commencing various projects.
  • The total equity requirement for the 10 HAM projects is INR13.4b, of which INR9.4b has already been invested.
  • For FY22/FY23, the incremental equity requirement is INR1.6b/INR1.4b.
  • In 2QFY22, the BOT division recorded toll collections of INR2.4b (against INR2.2b in 2QFY21).
  • The management has renegotiated the terms of the shareholder agreement with SBI Macquarie; the commitment to the investors has been revised from INR15.3b to INR11b, with a cap of INR12b.

Buy Ashoka Buildcon Limited with a target price of Rs 175

Buy Ashoka Buildcon Limited with a target price of Rs 175

Motilal Oswal has said the company’s “current OB remains strong (~INR119b). The book-to-bill ratio stands strong (~2.8x), which provides comfort and revenue visibility for more than two years. Net debt-to-equity at the standalone level stood at 0.1x in FY21. ASBL is well placed to fund its equity commitment. We expect net debt-to-equity to remain at 0.1x/0.01x for FY22E/FY23E, making it one of the strongest Road players in the sector.”

In its research report, the brokerage has claimed that “A strong order book and continuous improvement in the Balance Sheet augurs well for ASBL. Our TP of INR175/share is based on the SoTP methodology. We value the: a) EPC business at 5x Mar’23E EPS, and b) BOT business on an NPV basis. We maintain our Buy rating.”

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Buy Godrej Consumer Products With A Target Price of Rs 1,252 Suggests IDBI Capital

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Q2FY22 results of Godrej Consumer Products

According to the brokerage, the company’s “Consolidated revenue grew 9%YoY driven by 10%YoY growth in India business (on a base of 10%YoY) while the international business grew 7% (on a base of 11%YoY). Revenue from home care grew 5%YoY (India business +7%YoY) while from Personal Care grew 10%YoY (India business 12%YoY). GCPL gained market share in soaps. In international market revenue from; Africa, USA & Middle East grew 15% YoY (16% CC), Latin America & SAARC decline 3% YoY (+11% CC), Indonesia remained flat YoY (-2% CC).”

The brokerage has claimed that the company’s “Gross margin contracted sharply by 616bp YoY to 50% largely due to inflation in palm oil price. However, EBITDA margin contracted only 223bp YoY to 21% due to cost savings (lower ad-spends, employee cost, other expenses). Adjusted PAT grew 5%YoY to Rs 5bn.”

Buy Godrej Consumer Products with a target price of Rs 1,252

Buy Godrej Consumer Products with a target price of Rs 1,252

IDBI Capital has reported that “Godrej Consumer Products (GCPL) result was in-line with our estimates. India business performance has been resilient (10%YoY revenue growth on a base of 10%). Home care and personal care grew at a high single digit and double digit rate led by market share gains in soap and hair color. Positively; GCPL has launched Goodknight Jumbo Fast Card nationally while Godrej Expert Easy 5 minute shampoo is scaling up well.”

In its research report, IDBI Capital has reported that “In international business; South Africa performed well while other markets remained soft. Indonesia continues to underperform for 5th consecutive quarter largely due to macroeconomic uncertainties. Gross margin contraction has been steep primarily due to inflation in palm oil. Management expects the operating margin to normalize by 4QFY22. Accordingly, we have trimmed our EPS estimate by 6% in FY22E. We have introduced FY24E. We maintain our BUY rating and positive view on GCPL. Our revised TP stands at Rs 1,252 (vs previous TP of Rs 1,171) valued at 50x FY24E EPS.”

Disclaimer

Disclaimer

The stock is picked from the brokerage report of IDBI Capital. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Videocon, Reliance Naval among first lot of assets to be sold to NARCL, BFSI News, ET BFSI

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Companies that have had a shot at debt resolution under the Insolvency and Bankruptcy Code, including Videocon Oil Ventures and Reliance Naval, are among the first tranche of 22 non-performing accounts that are being sold to the National Asset Reconstruction Company (NARCL) by various lenders, according to a report.

State Bank of India (SBI) is planning to sell Videocon Oil Ventures’ bad loans of Rs 22,532 crore, while Union Bank of India plans to offload the Rs 9,000-crore Amtek Auto debt, the report said.

IDBI Bank is selling Reliance Naval and Engineering’s loans of Rs 8,934 crore while Union Bank is looking to sell the Rs 1,400 crore debt of Lavasa Corporation.

A consortium led by Mumbai-based industrialist Nikhil Merchant was leading the race to acquire the debt-laden Reliance Naval and Engineering Ltd, originally known as Pipavav Shipyard, with Rs 2,100 crore offer while another bid was of Rs 400 crore from the Naveen Jindal group.

In the case of Lavasa Corporation, the lenders are still undecided over the two offers received from Dhir Hotels and Resorts and Darwin Platform Infrastructure, with the last date of finalising a resolution being November 25. Lavasa Corporation has got bids worth Rs 700 crore for loan claims of over Rs 8,000 crore at NCLT.

Though banks have made 100% provision for the assets to be transferred to the bad bank, experts do not expect more than 20-25 per cent recovery from these legacy accounts.

The assets

Banks had identified Rs 82,496 crore worth of bad loans that could be transferred to the NARCL, which names like Videocon’s VOVL (Rs 22,532 crore total exposure), Reliance Naval and Engineering Ltd (Rs 8,934 crore), Amtek Auto (Rs 9,014 crore), Jaypee Infratech (Rs 7,950 crore, Castex Technologies (Rs 6,337 crore), GTL Ltd (Rs 4,866 crore), Visa Steel (Rs 3,394 crore), Wind World India Ltd (Rs 3,161 crore), Lavasa Corporation (Rs 1,424 crore), Consolidated Construction Consortium Ltd (Rs 1,353 crore), among others.

Several assets such as Videocon have seen realisable value close to liquidation value in NCLT proceedings. Many big-ticket resolutions at IBC have seen haircuts over 90%. With most of the NPAs proposed to be transferred to the bad bank being old legacy NPAs, there has been an erosion in value, making them more likely to head to liquidation.

The bad bank

Finance Minister Nirmala Sitharaman in Budget 2021-22 announced the setting up of a bad bank as part of the resolution of bad loans worth about Rs 2 lakh crore.

The bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts (SRs). The government guarantee would be invoked if there is a loss against the threshold value.

This sovereign guarantee would be for a period of five years and NARCL would have to pay a fee for this.

“The SRs are getting the backstop through government funding only in as much as to pay the gap between the realised value (resolution/liquidation) and the face value of SRs and this will hold good for five years,” Sitharaman had said.

The fee for the guarantee would be initially 0.25 per cent, which would progressively increase to 0.5 per cent in case of delay in resolution of bad loans.



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This Small Finance Bank Revises Interest Rates On FD, RD & Savings Account

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Investment

oi-Vipul Das

|

Shivalik Small Finance Bank offers competitive interest rates on fixed deposits, recurring deposits, and savings accounts. The bank, which has 4.5 lakh unique customers across Uttar Pradesh, Madhya Pradesh, Delhi, and Uttarakhand through 31 branches, 250 banking agents, and 15,000 self-help groups, recently revised its interest rates on fixed deposits, recurring deposits, and savings accounts, which investors should be aware of. The new rates are in effect from November 9th, 2021, and are discussed below in brief.

Shivalik Small Finance Bank Savings Account Interest Rates

Shivalik Small Finance Bank Savings Account Interest Rates

Customers will now receive the maximum interest rate of 7% on a deposit balance of Rs 7 Crore and above, as the bank has modified its interest rates on savings accounts with effect from November 9th, 2021. The interest rates on savings accounts are determined by incremental balance slabs and are as follows.

SAVING BANK ACCOUNT RATE OF INTEREST (%p.a.)
Balance upto 1 Lac 3.50%
Above 1 Lac to 5 Lacs 3.50%
Above 5 Lacs to 10 Lacs 3.50%
Above 10 Lacs to 25 Lacs 4.00%
Above 25 Lacs to 50 Lacs 4.00%
Above 50 Lacs to 1 Crore 4.50%
Above 1 Crore to 2 Crore 5.00%
Above 2 Crore to 5 Crore 5.00%
Above 5 Crore to 7 Crore 5.00%
7 Crore and above 7.00%
Source: Bank Website. W.e.f. November 9th, 2021

Shivalik Small Finance Bank FD Rates

Shivalik Small Finance Bank FD Rates

Shivalik Small Finance Bank is currently offering interest rates of up to 6.75 percent to the general public and elderly people on deposits maturing in 548 days to 998 days for deposits of less than Rs 2 crore. The following are the bank’s new and existing fixed deposit interest rates.

Tenure NORMAL SENIOR CITIZEN
Below 25 Lacs 25 Lacs to below Rs.2 Crores 2 Crores and above RATE OF INTEREST (%p.a.)
7 days to 14 days 3.50% 3.75% 3.75% 4.00%
15 days to 29 days 3.75% 4.00% 4.00% 4.25%
30 days to 90 days 4.25% 4.50% 4.50% 4.75%
91 days to 179 days 4.75% 5.00% 5.00% 5.25%
180 days to 269 days 5.50% 5.75% 5.75% 6.00%
270 days to 364 days 5.50% 5.75% 5.75% 6.00%
365 days to 547 days 5.75% 6.00% 6.00% 6.25%
548 days to 729 days 6.25% 6.75% 6.75% 6.75%
730 days to 998 days 6.25% 6.75% 6.75% 6.75%
999 days and above 5.50% 5.75% 5.75% 6.00%
Source: Bank Website. W.e.f. November 9th, 2021

Shivalik Small Finance Bank RD Rates

Shivalik Small Finance Bank RD Rates

On November 9th, 2021, the bank also amended its interest rates on recurring/flexi recurring deposits, which are as follows.

Tenure NORMAL SENIOR CITIZEN
6 months to less than 9 months 5.50% 6.00%
9 months to less than 12 months 5.50% 6.00%
1 year to less than 18 months 5.75% 6.25%
18 months to less than 2 years 6.25% 6.75%
2 years to less than 3 years 6.25% 6.75%
3 years to 10 years 5.50% 6.00%
Source: Bank Website. W.e.f. November 9th, 2021

Story first published: Tuesday, November 16, 2021, 14:58 [IST]



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