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Israel looks to floating hospitals to ease Gaza health crisis

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Israel looks to floating hospitals to ease Gaza health crisis

Israeli military pressure on Gaza’s Shifa, Nasser and Indonesian hospitals is seeing thousands of patients being evacuated and Israel would like to see them hospitalized in temporary facilities. According to data from the Hamas controlled Ministry of Health, which may not be the most reliable figures, there are 30,000 casualties in the Gaza Strip.

In Israel the Ministry of Foreign Affairs and Prime Minister’s Office are encouraging the deployment of field hospitals in the south of the Gaza Strip. The call has been responded to by the UAE, which has announced that it will set up a 150-bed field hospital. In addition the Red Cross and an unnamed country will also set up field hospitals in the region west of Khan Younis. Egypt has established a field hospital in the Rafiah region and has announced that it will set up another hospital for the wounded in El Arish. But many other countries have not expressed much enthusiasm for similar aid.

Another significant move being promoted in Israel is the establishment of hospitals off the coast of Gaza. The Israeli Foreign Ministry contacted a number of Western countries, such as Germany, France and Italy, to ask them to send floating hospitals to Gaza. The plan is for large hospital ships that will provide rapid humanitarian aid to the residents of the Gaza Strip, which could take in many wounded from the hospitals in Gaza, which are Hamas terrorist bases. In Israel, the floating hospitals are seen as an immediate solution to the evacuation of the wounded from the hospitals in Gaza.

Three different medical aid ships are currently making sailing to Israel from France and Italy. But they will only be able to admit on board no more than a few hundred patients at a time. Until they reach the region, countries such as Cyprus and France are trying to work with Israel and Egypt to open a sea corridor that will allow the evacuation of the wounded Palestinians. The Israelis want to monitor the equipment that enters the area and make sure that it does not end up in the wrong hands, while the Egyptians want to transfer as much medical activity as possible to the sea to prevent the establishment of field hospitals in their territory, which would most likely become refugee camps. The delay in talks over all this is also holding back the arrival of the floating hospital ships already on the way and the departure of other aid ships. Some countries already have floating hospitals that could be used offshore from Gaza, while others would need to invest in converting ships to hospitals.

Which ships are already sailing to Israel?

The Italians announced that they will send ships to the region. The Italian ship Vulcano set sail last weekend to the Eastern Mediterranean.

The Vulcano is designed to serve as a logistics supply ship, providing fuel and food for the Italian fleet of warships, but can be converted into a floating hospital during wartime. This is the most modern supply ship in the Italian navy, and one of the most sophisticated in all of Europe. It was intended to serve a central role in the deployment of NATO forces in the Eastern Mediterranean and the Red Sea, and recently the French even ordered a ship of the same model. The Vulcano cost $400 million to build and weighs about 27,000 tons and can carry 170 crew members. In the coming years at least five more ships of this model are expected to enter service in the Italian and French navies.







However, the number of patients it can treat is extremely limited. It allows the hospitalization of dozens of patients only, and on board no more than 30 medical staff.

France has also announced that it is dispatching two similar ships to the region, the helicopter carrier Tonnerre, which is already sailing for the eastern Mediterranean and the Dixmude, which is preparing to depart. Both are Mistral-class ships with small 900 square meter hospitals on board with 29 rooms and 69 hospital beds, designed for intensive care. Each of the ships has room for 50 more hospital beds in helicopter hangars.

These Italian and French ships combined will have close to 300 temporary beds, a very small number in terms of the estimated number of Palestinian casualties in Gaza.

What concerns the foreign armies?

Hospital ships are military ships and on their decks are sailors from foreign armies. NATO countries are concerned that rockets might be fired at the ships or that Hamas and Islamic Jihad terrorists might smuggle their way on board, drawing them into the war. So crew are not eager to anchor near the Gaza shore and become a target of terrorist vessels or rockets.

Former naval officer Lt. Col. (res.) Dr. Eyal Pinko from the Department of Political Science and the Begin-Sadat Center for Strategic Studies at Bar-Ilan University explains, “Deploying marine hospitals less endangers forces than deploying hospitals on land. It is also faster and more immediate but very challenging for preventing terrorist individuals from coming on board. Anchoring off Gaza or Egypt is problematic and carries a danger from Hamas and ISIS. On the other hand anchoring off Israel requires coordination on bringing Palestinian patients into its territorial waters.

“Therefore, the most reasonable scenario for the foreign forces is to anchor 20 miles from the coast, outside of territorial waters, although the distance also creates hardships in bringing patients from the shore.” Another possibility being proposed is to anchor off El Arish in Egypt, 75 kilometers from Gaza, even further for the casualties.

In order to minimize the risks regarding terrorist organizations, hospital staff are expected to narrow down the criteria for hospitalized patients who can board the ships. For example, allowing only children of a certain age and below accompanied by their parents to board, and this only after a strict security check carried out with the support of Egypt, only after crossing the border at Rafah, then flying the patients on helicopters to floating clinics. However, this would provide only limited humanitarian aid for a very small number of patients, and is not a solution that would ease the plight of the thousands of evacuees from Shifa and other hospitals.

What types of treatments can be performed on the hospital ships?

Prof. Nachman Ash, a senior faculty member at Ariel University and former Chief Medical Officer and Director General of the Ministry of Health, explains that the medical teams on the ships will prefer to treat urgent cases, such as the injured who need hospital beds, rather than those where they will have to stay on board for further treatment. It will be difficult to leave those with head injuries or serious injuries on the ship, who require hospitalization for a long time with further rehabilitation, and the long way to and from it will not be easy for them either.”

Therefore, Prof. Ash says, any ship that arrives in the area will oblige the crew to coordinate with Egypt or other countries on the possibility of continued hospitalization in local hospitals. “It is important not only to understand how the patients are admitted onto the ship, but also where they are directed afterwards,” he says. Such a move, it should be noted, will further reduce the number of patients who can board the floating hospitals.

Is the US expected to send similar help to the region?

Despite the extensive US naval involvement in the region, which includes deployment of two aircraft carriers, more than 10 destroyers and cruisers and a large cruise missile submarine, the two largest US hospital ships, Comfort and Mercy, have no plans to sail to the Middle East. These are the largest and most sophisticated hospital ships in the world. Each of these ships carries a thousand hospital beds, 12 operating rooms and intensive care units, radiology equipment, laboratories, pharmacies, CT scanners, oxygen facilities and even a dental clinic. According to “The Washington Post”, the Mercy is making its way to a mission in the Pacific Ocean while the Comfort is docked in its home port in Alabama for refurbishment.

However, Ford, the US Navy’s newest aircraft carrier currently stationed off the coast of Lebanon, has a hospital wing on board with 41 inpatient beds, a laboratory, an operating room, a three-room intensive care unit, staffed by 11 medical officers and 30 other personnel.

Does Israel have a floating hospital ship?

Israel has never seen the need for medical ships, and made do with field hospitals deployed relatively close to combat zones. However, the warships of the Saar 5 and Saar 6 models can carry several dozen patients on board each, and the Israel Navy assigns teams to them from fleet headquarters.

In 2010, for example, after the earthquake in Haiti, Israel helped evacuate the wounded to the US ship Comfort. Brigadier General (res.) Prof. Trif Bader, director of Clal Health Services Kaplan Medical Center and Herzfeld Geriatric Hospital, who led the expedition, says that the IDF usually relies on points that are close to the disaster area, but regarding ships: “There is a balance between proximity to the area and the war itself, and between the safety required for the medical staff.”

Published by Globes, Israel business news – en.globes.co.il – on November 14, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.


PRS Oberoi Dies, Tributes Flow In For PRS Oberoi, The Hospitality Tycoon Of India

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PRS Oberoi Dies, Tributes Flow In For PRS Oberoi, The Hospitality Tycoon Of India

Tributes have started to pour in for PRS Oberoi following his passing.

Prithvi Raj Singh Oberoi, the chairman emeritus of the Oberoi Group, died on Tuesday at age 94. He was born in 1929 and served as the executive chairman of EIH Limited, the flagship company of The Oberoi Group. He is celebrated for his significant contributions to revolutionising the hotel business landscape in India. 

Tributes have started to pour in for PRS Oberoi following his passing.

Mamata Banerjee, Chief Minister of West Bengal, paid her condolences and dubbed him the “hospitality tycoon of India”. She wrote on X, formerly Twitter, “Saddened by the demise of Padma Vibhushan PRS Oberoi, Chairman of the Oberoi group, and the hospitality tycoon of India. He was trained in Darjeeling and his achievements have been inextricably linked to West Bengal. We shall all feel the irreparable loss. Condolences to the family, friends and admirers.”

Anand Mahindra, Chairperson of Mahindra and Mahindra, credited Mr Oberoi for being the first to elevate an Indian hotel to the pinnacle of global rankings and called him a “class act”. 

He said, “P.R.S Oberoi passed away this morning. His many achievements were never sufficiently recognised. He made ‘Oberoi’ a global byword for the Indian luxury hospitality experience and the first to put an Indian hotel on the very top of global rankings. He also rallied the group heroically but quietly post the 26/11 attack on their Mumbai flagship. He was a class act. Period. Om Shanti.”

Rajeev Chandrasekhar, Union Minister of State for Electronics and Technology, tweeted, “Without doubt, the man who put Indian hospitality and service on global map #RIP #Om Shanti #PRSOberoi.”

Author and screenwriter Advaita Kala expressed that few people have had such a profound impact on her life as Mr Oberoi did. She wrote on X, “Few people have impacted my life like Mr PRS Oberoi has. My tributes to his life, his legacy and the ‘investment’ he made in thousands like me. He will live on through us, in words, actions and service.”

Naveen Narayanan, Global Head of HR at Biocon Biologics, referred to PRS Oberoi as a “Legend of Indian hospitality”. He wrote, “#RIP A legend of Indian hospitality. I have had the fortune of meeting him a few times. #Legend.”

Amitabh Kant, former CEO of the NITI Aayog, described PRS Oberoi as one of the greatest hoteliers globally. 

Harsimrat Kaur Badal also paid her respects to Mr Oberoi. “Deeply saddened at the passing away of Mr. PRS Oberoi, the patriarch of The Oberoi Group. A visionary leader who transformed the hotel industry in India and internationally, Mr. PRS Oberoi was also known for his compassion and philanthropy. My deepest condolences to Vikram and Arjun Oberoi. He will always be remembered for his stellar contributions to the hospitality industry,” she wrote.

The cremation ceremony for PRS Oberoi is scheduled to take place at the Bhagwanti Oberoi Charitable Trust, Oberoi Farm, Kapashera, at 4 pm on Tuesday.

UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession

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UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession

U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023.

Evelyn Hockstein | Reuters

UBS expects the U.S. Federal Reserve to cut interest rates by as much as 275 basis points in 2024, almost four times the market consensus, as the world’s largest economy tips into recession.

In its 2024-2026 outlook for the U.S. economy, published Monday, the Swiss bank said despite economic resilience through 2023, many of the same headwinds and risks remain. Meanwhile, the bank’s economists suggested that “fewer of the supports for growth that enabled 2023 to overcome those obstacles will continue in 2024.”

UBS expects disinflation and rising unemployment to weaken economic output in 2024, leading the Federal Open Market Committee to cut rates “first to prevent the nominal funds rate from becoming increasingly restrictive as inflation falls, and later in the year to stem the economic weakening.”

Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from a target range of 0.25-0.5% to 5.25-5.5%.

The central bank has since paused at that level, prompting markets to mostly conclude that rates have peaked, and to begin speculating on the timing and scale of future cuts.

However, Fed Chairman Jerome Powell said last week that he was “not confident” the FOMC had yet done enough to return inflation sustainably to its 2% target.

UBS noted that despite the most aggressive rate-hiking cycle since the 1980s, real GDP expanded by 2.9% over the year to the end of the third quarter. However, yields have risen and stock markets have come under pressure since the September FOMC meeting. The bank believes this has renewed growth concerns and shows the economy is “not out of the woods yet.”

“The expansion bears the increasing weight of higher interest rates. Credit and lending standards appear to be tightening beyond simply repricing. Labor market income keeps being revised lower, on net, over time,” UBS highlighted.

“According to our estimates, spending in the economy looks elevated relative to income, pushed up by fiscal stimulus and maintained at that level by excess savings.”

The bank estimates that the upward pressure on growth from fiscal impetus in 2023 will fade next year, while household savings are “thinning out” and balance sheets look less robust.

“Furthermore, if the economy does not slow substantially, we doubt the FOMC restores price stability. 2023 outperformed because many of these risks failed to materialize. However, that does not mean they have been eliminated,” UBS said.

U.S. Treasury yield curve will likely continue to steepen, analyst says

“In our view, the private sector looks less insulated from the FOMC’s rate hikes next year. Looking ahead, we expect substantially slower growth in 2024, a rising unemployment rate, and meaningful reductions in the federal funds rate, with the target range ending the year between 2.50% and 2.75%.”

UBS expects the economy to contract by half a percentage point in the middle of next year, with annual GDP growth dropping to just 0.3% in 2024 and unemployment rising to nearly 5% by the end of the year.

“With that added disinflationary impulse, we expect monetary policy easing next year to drive recovery in 2025, pushing GDP growth back up to roughly 2-1/2%, limiting the peak in the unemployment rate to 5.2% in early 2025. We forecast some slowing in 2026, in part due to projected fiscal consolidation,” the bank’s economists said.

Worst credit impulse since the financial crisis

Arend Kapteyn, UBS global head of economics and strategy research, told CNBC on Tuesday that the starting conditions are “much worse now than 12 months ago,” particularly in the form of the “historically large” amount of credit that is being withdrawn from the U.S. economy.

“The credit impulse is now at its worst level since the global financial crisis — we think we’re seeing that in the data. You’ve got margin compression in the U.S. which is a good precursor to layoffs, so U.S. margins are under more pressure for the economy as a whole than in Europe, for instance, which is surprising,” he told CNBC’s Joumanna Bercetche on the sidelines of the UBS European Conference.

Signs of a recession may be on the horizon, says fmr. Fed economist Claudia Sahm

Meanwhile, private payrolls ex-health care are growing at close to zero and some of the 2023 fiscal stimulus is rolling off, Kapteyn noted, also reiterating the “massive gap” between real incomes and spending that means there is “much more scope for that spending to fall down towards those income levels.”

“The counter that people then have is they say ‘well why are income levels not going up, because inflation is falling, real disposable incomes should be improving?’ But in the U.S., debt service for households is now increasing faster than real income growth, so we basically think there is enough there to have a few negative quarters mid-next year,” Kapteyn argued.

A recession is characterized in many economies as two consecutive quarters of contraction in real GDP. In the U.S., the National Bureau of Economic Research (NBER) Business Cycle Dating Committee defines a recession as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” This takes into account a holistic assessment of the labor market, consumer and business spending, industrial production and incomes.

Goldman ‘pretty confident’ in the U.S. growth outlook

The UBS outlook on both rates and growth is well below the market consensus. Goldman Sachs projects the U.S. economy will expand by 2.1% in 2024, outpacing other developed markets.

Kamakshya Trivedi, head of global FX, rates and EM strategy at Goldman Sachs, told CNBC on Monday that the Wall Street giant was “pretty confident” in the U.S. growth outlook.

“Real income growth looks to be pretty firm and we think that will continue to be the case. The global industrial cycle which was going through a pretty soft patch this year, we think, is showing some signs of bottoming out, including in parts of Asia, so we feel pretty confident about that,” he told CNBC’s “Squawk Box Europe.”

Trivedi added that with inflation returning gradually to target, monetary policy may become a bit more accommodative, pointing to some recent dovish comments from Fed officials.

“I think that combination of things — the lessening drag from policy, stronger industrial cycle and real income growth — makes us pretty confident that the Fed can stay on hold at this plateau,” he concluded.

Amid soaring dental costs, one Toronto dentistry clinic is providing cheaper care by offering only basic procedures

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Amid soaring dental costs, one Toronto dentistry clinic is providing cheaper care by offering only basic procedures

A new dentistry clinic in downtown Toronto is providing cheaper care by only offering basic procedures and streamlining administrative work online – a model that is being hailed for providing greater access to lower-income people but questioned for its viability in the for-profit sector.

Dentistry For Everyone opened last month and aims to improve access to care by undercutting industry-standard costs by roughly 30 per cent for basic treatments such as cleanings, fillings, extractions and simple root canals.

“We save on the overhead, preparation, instruments and materials because we only have what we need to provide those core services,” said Karim ElMofty, co-founder of the clinic, noting that patients also handle insurance, payments and scheduling themselves by using a website that reduces overhead costs.

“We pass on those savings to our patients.”

While similar low-cost care is sometimes offered by not-for-profit dental clinics, academic experts say this is the first time they’ve seen a for-profit clinic to try to significantly undercut industry costs by using this model.

Dental costs soaring across Canada as fee guides get updated

Ottawa, meanwhile, is preparing to roll out the Canadian Dental Care Plan (CDCP), a funding program for lower-income Canadians. The federal government has said that roughly one-third of Canadians are unable to access dental care because they don’t have insurance.

But Dr. ElMofty said access to dental care can also be an issue for insured and high-earning Canadians. In a survey commissioned by his clinic, more than half of respondents said they had insurance but weren’t able to get the full cost of their care covered. Forty-three per cent of respondents earning more than $100,000 per year also said they’d like to get more dental work done but can’t afford it.

Reaction to the clinic among academic experts was mixed, with some applauding the attempt to improve access to dental care, while others were concerned about clinics potentially trying to compete on cost.

Charges for dental care are set by each individual provider, but there is a suggested fee guide published each year by professional associations in each province.

Dentistry For Everyone charges much less than the suggested fees set by the Ontario Dental Association. For example, they offer dental exams with X-rays at $49, as opposed to the ODA-suggested $200 to $300; cleanings start at $150, compared with the suggested price of $220 to $250; and a small filling will cost $130, compared with $190. It also is one of very few dental offices that publish their fees.

By providing cheaper basic procedures, Dr. ElMofty hopes clients will save more money by accessing care now to avoid more complicated dental issues down the road.

Lesley Byrne, director of communications for the Royal College of Dental Surgeons of Ontario, said the organization supported “any delivery model that increases access to care and where the dentists follow our standards and provide safe, effective and ethical care.”

The ODA says its fee guide is simply a suggestion and recognizes that there are different cost inputs to consider between different dental practices. It says the final price is up to each office to decide.

“The reason we have a suggested fee guide is because there’s no right answer to every situation,” said Dr. Brock Nicolucci, president of the ODA.

He said one reason many offices don’t publish their rates is because the cost of each procedure can vary widely depending on each patient’s case and the administrative work required in more complicated work.

Sonica Singhal, a University of Toronto professor and graduate program director for dental public health, said she was concerned about a possible “race to the bottom” if more clinics in the for-profit sector try to compete on price to attract clients, as it could negatively impact the quality of care.

She said fee guidelines exist for a reason: to set a financially sustainable charge based on the cost of delivering those services, including overhead.

“This is health care, you can’t just bargain from one place to another,” Dr. Singhal said.

While she said she wasn’t questioning the integrity of Dentistry For Everyone, she would prefer to see systemic changes to break financial barriers rather than private-sector fixes.

But other experts welcome any attempt to break barriers to dental care.

“I do believe that basic services are something that need to be addressed – if you catch things early and focus on prevention, then it can be a cost savings beyond the discounted rate,” said Leeann Donnelly, an associate professor and director of community engagement at the University of British Columbia’s faculty of dentistry.

She said her main concern was whether certain demographics might struggle with using the company’s self-service website, such as the elderly and new Canadians who struggle with English.

“Time will tell if this model is successful … but anything that actually does help with access to care is a worthwhile venture.”

Ms. Donnelly added that issues around price transparency are something she often hears complaints about. Sometimes, dentists will only be able to give an accurate estimate of the cost of a procedure after an initial exam is done, she said.

Dr. Singhal and Ms. Donnelly both cited the coming CDCP as a source of relief for people who are struggling to afford dental care, but the final details of the program – which is expected to roll out by the end of the year – have not yet been released.

In the meantime, they said people struggling to access dental services can also seek out discounted care from non-profit providers, such as universities in their area, or enquire with their dentist’s office about payment plans or potential discounts based on their income.

Apple’s China Woes Stoke $20 Billion Xiaomi Rally

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Apple’s China Woes Stoke Billion Xiaomi Rally

(Bloomberg) — Apple Inc.’s sales dip in China is providing an opportunity for yet another local Android smartphone maker to win favor with customers and investors.

Most Read from Bloomberg

Xiaomi Corp. has gained about $20 billion in market value since a June low on excitement over its latest handset as well as as forays into electric vehicles and other businesses. The Hong Kong-listed stock rose more than 60% in that span, making it the best performer on the Hang Seng Tech Index.

Chinese Android makers are capitalizing as Apple posts sliding revenue in the country, even amid signs that Asia’s largest smartphone market is starting to bottom out after years of decline.

Xiaomi’s 14 series has received over one million orders since its late-October launch. That marks the second smash debut for a Chinese smartphone in just the past few months, following Huawei Technologies Co.’s success with the Mate 60 Pro. Huawei is unlisted, but investors have been snapping up shares of its suppliers.

Huawei Drives $34 Billion China Stock Boom in Rare Hot Trades

While Xiaomi’s stock has surged on the stellar 14 series orders, some analysts say it’s poised to climb even higher. EVs and and the so-called “artificial intelligence of things” are seen as potential additional catalysts.

“We believe there is a trading opportunity in the next six months with smartphone and AIoT growth turnarounds and early expectations building for Xiaomi’s electric vehicle foray,” Gokul Hariharan, an analyst at JPMorgan Chase & Co. wrote in a note last week, upgrading the stock to overweight.

Other Wall Street firms including Morgan Stanley and Citigroup Inc. have cited signs of an end to China’s smartphone downturn and a likely recovery into next year. Huawei’s surprisingly strong comeback has helped triggered Chinese consumer appetite for innovative local products.

“Huawei is clearly gaining ground rapidly following the new product launch featuring its unique camera function and satellite calling,” said Jian Shi Cortesi, a fund manager at GAM Investment Management. ”iPhone sales are losing momentum in China at the moment, as many consumers don’t perceive much functionality improvement in the new iPhone.”

UBS Strategists Prefer China Internet Stocks Over US Big Tech

Xiaomi’s 14 series also sports an advanced camera, as well as the latest Qualcomm Inc. processor and an innovative operating system called HyperOS designed to connect the smartphone to autos, appliances and other AIoT devices.

While Huawei is likely to gain the most share among Chinese brands in the current smartphone cycle, Xiaomi’s technology should help it fend off rivals including Oppo and Vivo into next year, according to Bloomberg Intelligence analyst Steven Tseng. “In addition, the potential growth opportunity in overseas markets will be in favor of Xiaomi, which has the best overseas presence among all Chinese phone vendors,” he said.

The rally in Xiaomi’s shares since the 14 series’ release has pushed them into overbought territory, technicals suggest. But market watchers say the shares could ride further on upcoming catalysts including Singles’ Day and results for the third quarter due November 20.

“Xiaomi is the only top five smartphone brand to see shipment increases both quarter-on-quarter and year-on-year in 3Q 2023 as it strengthened its positions in key markets such as China and India,” Counterpoint Research wrote in a note.

The company notched “historical high” gross merchandise value for Singles’ Day, helped by strong performance for the 14 series, Goldman Sachs Group Inc. analyst Timothy Moe wrote in a note.

There are other ways to trade the idea too, as — like with Apple and Huawei — Xiaomi has its own ecosystem of suppliers. Among key component makers for Xiaomi, mainland-listed Will Semiconductor Co. and OFILM Group Co. have both climbed in the past month.

Tech Chart of the Day

Microsoft Corp. shares rose as much as 2.6% to touch a record high of $370.10 on Friday. The Windows software maker has rallied 54% this year to add about $960 billion in market value. Last month, the technology giant reported strong sales, bolstered by recovering cloud-computing growth amid demand for new artificial intelligence products.

Top Tech Stories

  • China’s Alibaba Group Holding and JD.com reported sales increases for Singles’ Day, after the e-commerce giants offered steep discounts to attract consumers to the country’s shopping extravaganza.

  • Meta Platforms Inc. is close to reaching a deal that will bring its mixed reality headset to China through a partnership with Tencent Holdings Ltd.

  • Two prototype low-Earth orbit satellites made by Hon Hai Precision Industry Co., better known as Foxconn, took off aboard a SpaceX rocket from Vandenberg Space Force Base in southern California on Saturday.

Earnings on Monday

–With assistance from Subrat Patnaik.

(Updates to add chart and earnings sections.)

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Biocon Q2 nos miss estimates; brokerages cut targets; stock slips

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Biocon Q2 nos miss estimates; brokerages cut targets; stock slips

Biocon, a Bengaluru-based pharmaceutical company’s shares slipped over 4 per cent in morning deals on BSE on Monday, November 13. The stock touched the intra-day low of Rs 224.4. Selling pressure in the stock came after the company posted its July-September quarter numbers that missed estimates. After poor second-quarter results of the company, brokerages also cut their target prices on the stock.  

At around 9:50 a.m., shares of Biocon traded 3.85 per cent, or Rs 9.05 lower, at Rs 225.75 apiece. The market capitalisation of the company stood at Rs 27,169.58 crore. Biocon shares ended 3.17 per cent lower at Rs 227.35 at close on BSE.

Brokerages’ view

Jefferies maintained a ‘buy’ rating on the stock and cut the target to Rs 280 apiece from Rs 300.

Goldman Sachs also continued with a ‘hold’ rating but cut the target to Rs 245 apiece from Rs 275.

Here’s how Biocon fared in Q2

Biocon posted its Q2 results in post-market hours, where the biotechnology major said its consolidated net profit rose over twofold to Rs 173 crore for the second quarter ended September 30, 2023, as against Rs 82 crore for the July-September period of the last fiscal. 

The total income rose to Rs 3,620 crore for the second quarter as against Rs 2,384 crore in the year-ago period, Biocon Ltd said in a regulatory filing.

The revenue for the second quarter of the current fiscal stood at Rs 3,462 crore as against Rs 2,320 crore a year ago. The revenue estimates were at Rs 3,640 crore. The earnings before tax, interest, depreciation, and amortisation (EBITDA) stood at Rs 741 crore as against Rs 471 crore year-on-year. The estimates were at Rs 843 crore. 

The company’s margin, a key to measuring profitability, was estimated at 23 per cent but came in at 21.4 per cent in Q2 as against 20.3 per cent year-on-year (YoY).

Biocon share price: Past performance

In 2023 so far, shares of Biocon have lost over 13 per cent as against the Nifty50’s rise of nearly 7 per cent. 

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com. 

Good Recovery In Rural Markets, Hopeful To Grow At Par With Urban In Next 3-4 Quarters: Dabur CEO

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Good Recovery In Rural Markets, Hopeful To Grow At Par With Urban In Next 3-4 Quarters: Dabur CEO

Home-grown FMCG major Dabur India is seeing ‘very good recovery’ in rural markets and expects growth from these markets to come at par with the urban market in the next 3-4 quarters, CEO Mohit Malhotra said.

As inflation is coming down with the cooling of commodity prices, a ‘slow volume recovery’ is happening in those markets, which is narrowing the difference between the growth rate between rural and urban, he said.

The recovery from the rural market is likely to continue despite a disruption in rain in some parts of the country, led by factors such as hike in MSP, good sowing of winter crops, and election season.

Besides, India’s unemployment rate has decreased in the rural areas and the consumer confidence index is also at an all-time high, almost reaching the pre-COVID level, he added.

“There are definite very good recovery signs, which actually I am seeing. The festive season which is coming in, should augur very well for us going forward in the future. So I am very hopeful,” Malhotra told PTI.

The company which owns power brands such as — Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara, Dabur Lal Tail, Dabur Amla, Dabur Red Paste, Real — is enhancing its rural footprint with low unit price packs.

Asked when he expects rural growth to come at par with urban markets, Malhotra said: “It’s a matter of time. I think it will take another three-four quarters… before rural comes at par with urban.”

However, he added that the urban market is also driven by new-age channels such as modern trade and e-commerce, which are contributing around 20-25% of the FMCG business.

“So they are growing much ahead. For the rural, which is mainly GT (general trade as Kirana), to grow at that percentage is very difficult because the rural market has a large base and for a large base to grow at that percentage is difficult. So urban, I think for some time it is going to drive the growth,” he said.

Quant Momentum Fund: Should you invest in this NFO?

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Quant Momentum Fund: Should you invest in this NFO?

If the stock market moves mimic waves in the ocean, a momentum investor sails up the crest of one, only to jump on to the next wave before the first wave crashes. When you believe that stocks that have gained in the recent past can continue to rise, you belong to the momentum investing club. Thanks to the long rally over the past years, markets have seen a flurry of momentum investing-based schemes both in the actively-managed and passively-managed mutual fund space. Joining the ranks is quant Mutual Fund with their latest offering: quant Momentum Fund. This is the second actively-managed momentum-based fund in the space, after Samco’s offering. Here is a review.

Gaining momentum

Following the prevailing trend is probably as old as the stock market. Momentum stocks are those that exhibit positive price momentum – based on the phenomenon that stocks which have performed well in the past relative to other stocks (winners) continue to perform well in the future, and stocks that have performed relatively poorly (losers) continue to perform poorly. Let winners run and cut losers fast — this is the basic premise.

Momentum investing is based on the gap in time that exists before mean reversion occurs in a stock. Momentum is usually seen in the short- to intermediate-term. If the stock market moves mimic waves in the ocean, a momentum investor sails up the crest of one, only to jump on to the next wave before the first wave crashes.

How quant MF views momentum

At quant Mutual Fund, researchers continue to explore the momentum anomaly by channelising efforts to develop alternative asset pricing models that can better account for the complexities of market dynamics and investor behavior.

According to quant MF, these models aim to incorporate factors such as investor sentiment, market frictions, and behavioral biases to provide a more comprehensive understanding of asset pricing and market inefficiencies, addressing the challenges posed by the momentum anomaly within the realm of modern financial theory.

In terms of data analysis, quant MF considers economic outlook, cycles, seasonality, and human behavior to perceive the ‘investors’ reactions’ to the market. It then applies mathematical and statistical models to understand how these individual momentum trends can be combined as a single force multiplier for portfolios.

Fund strategy

Quant MF’s initial stock universe is BSE Allcap Index (has about 1100 stocks). Stocks are filtered based on the removal of outliers, and then quant’s VLRT filtering system is employed.

The scheme will invest at least 80 per cent in equity/equity-related instruments of companies with strong profit potential based on quant’s momentum thesis.

Driven by a thematic quantitative momentum strategy, the investment thesis aims to forecast the expected return of stocks using momentum attributes and auto-correlations to optimise the risk-return trade-off. A combination of quantitative methodologies, risk-based analysis, and systematic portfolio construction will be used to achieve investment returns.

According to quant MF, it will employ a ‘proprietary model’, which combines investor views and market equilibrium, to improve asset allocation decisions by optimising the expected risk-return tradeoff of the portfolio while ensuring skewness to the momentum strategy.

Quant Momentum Fund will have the flexibility to invest across market caps and sectors displaying strong price momentum, potentially outperforming the benchmark.

Its risk-mitigating VLRT (Valuation, Risk Appetite, Time and Liquidity) framework and predictive analytics tools will dynamically manage known risks and identify opportunities.

Existing Momentum Funds

In June this year, Samco MF had launched Samco Active Momentum Fund, which was India’s first actively-managed momentum mutual fund. The fund has outperformed BSE 500 TRI by about 600 basis points in the past 3 months (7.5 per cent fund return).

The passive mutual fund products based on momentum largely track either the Nifty 200 Momentum 30 Index or the Nifty Midcap 150 Momentum 50 Index. The latter schemes in the last 3 months have given between 8-11 per cent returns. As you can see, passive products have beaten the lone actively-managed offering in momentum space.

Barring 2-3 schemes, most of the index and ETFs based on momentum indices don’t have even a year 2-year NAV history.

Our take

Momentum investing is ideal for high-risk-taking investors only. So, only investors with a long-term horizon and high-risk appetite should consider momentum funds.

Although this is a new fund, quant MF has made its name with ‘trend following’ across different fund mandates. The fund will invest in companies based on current trends, including earnings or price movement. It has great potential for high profits over the short and long term. At the same time, any swift market downturns will cast a negative effect on momentum-based funds much more than other factor-based funds. Risk mitigation tactics can shield some downside, but not all.

For investors willing to experiment with the new fund offering, bear in mind that thematic funds should form only 10-15 per cent of your overall portfolio depending on your risk appetite/profile.

According to AMFI website, quant Momentum NFO closes November 21, 2023.

Experiencing Fast Business Growth? How SAP Business One Can Help

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Experiencing Fast Business Growth? How SAP Business One Can Help

Experiencing Fast Business Growth? How SAP Business One Can Help

Business growth should be a good thing. But if you aren’t ready for it, your growing pains can escalate to the point of harming your business. Fast growth means bringing in new employees, increasing your business and warehouse locations, and adding a multitude of other changes. This expansion entails large expenditures, which can increase your debt and create cash flow problems. The increased demand for your products and services should take care of this, but only if you successfully scale your business.

Having the right ERP system in place will help with your scaling efforts in the following ways:

Integrate Your Business Systems and Departments

Quick adaptation to the demands of fast business growth requires effective communication and collaboration across all your departments. When the applications and databases of different departments don’t communicate, your ability to implement the changes required for growth is hampered.

Attempting to force such a company to react faster than its usual pace merely produces chaos. This isn’t surprising because poor system integration introduces unnecessary complexity in your operations. In extreme cases, it can cause paralysis when siloed data across your organisation doesn’t agree. How can you make informed business decisions with inconsistent data?

Automate Workflow

Manual work flow systems are slow and prone to error. They are often associated with paper documents that get passed from one desk to the next. However, even if a company uses computers and software applications for order processing (for example), the workflow itself is manual if you rely on human beings to manually send their contributions on to the next person in a process.

An automated workflow immediately distributes information to those in need of it. As each person does their part, the automated system sends the updated information on to the next person or people. Workflow automation streamlines and keeps work processes moving along. It also gives management greater insight and control over work processes. Coping with fast growth requires a fast response to the demands of business. Workflow automation does this.

Keep Your Customers Satisfied

Managing the inventories of multiple warehouses can get difficult when you don’t have access to accurate real-time data. This is further complicated when you’re also managing multiple stores, both offline and online.

Customers today want immediate gratification and won’t wait for backordered items to arrive. Profitably keeping customers happy requires keeping your inventories efficiently stocked to meet demand without needlessly tying up money on overstocked items. An ERP system such as SAP Business One makes this possible.

Even when you aren’t experiencing fast business growth, SAP Business One will give you the competitive edge that will take your business to the next level, and will make your transition to greater success a smooth one. Contact us today for more information.

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  • SAP Business One is an affordable Enterprise Resource Planning (ERP) software designed for small to midsize businesses. As a business management solution, SAP B1 streamlines business processes, provides real-time information, and help boost overall business performance. The solution covers finance, sales, customer relationship, purchasing, procurement, inventory and manufacturing in one centralised system, enabling accurate and precise information retrieval that assist in reporting, forecasting and analysis.

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    SAP B1 Modules:

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10 Jobs That Will Eventually Be Replaced by AI

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10 Jobs That Will Eventually Be Replaced by AI

AI is short for artificial intelligence, which is something you are probably familiar with by now. If you aren’t, artificial intelligence is very simply intelligence that is demonstrated by machines. Over time, it has become exceptionally capable. Because of the way that AI is expanding, it is likely that some jobs may be overtaken by machines in the future based on factors like cost, efficiency, and accuracy. In this list, you’ll read about the ten most likely jobs that will eventually replace their employees with AI.

Advertisement Sales Reps

Advertisement Sales Reps

Advertising space used to something much more physical than it is today; print ads and billboards were what was popular. Soon, that shifted to television and radio; now, most advertising is done on the web. Because of this, there just won’t be a need for those salespeople anymore. Even now, most people purchase ads through APIs or direct marketplaces rather than work with a middleman.

Bookkeepers

Bookkeepers

Bookkeeping is part of the accounting process for a business, and bookkeepers are responsible for keeping track of all financial transactions that go on within an enterprise. There are some programs out there for this already that are gaining traction, like QuickBooks. The reason that this is so likely to be replaced is that it is already being phased out by these programs, which are cheaper to subscribe to than it would be to pay someone’s salary doing the same thing.

Compensation and Benefits Managers

Compensation and Benefits Managers

Compensation and Benefits Managers are sometimes better known as Human Capital Managers. They handle things like benefits, payroll, and more. While this job is projected to grow 8% in the next six years, it is still at risk of being made obsolete. As companies continually build, depending on humans to manage this aspect of a business becomes more difficult because of time, and the cost of keeping enough employees based on the size of the company. Services like Ultipro are already stepping in and filling this spot in a number of organizations.

Computer Support Specialists

Computer Support Specialists

Tech support is one thing that has been moving towards automation almost the entire time it has existed, by means of the troubleshooting utility on computers, helpdesk, and so on. That has expanded to include chat bots online, support resources that are readily available to customers like instructions, or guides. Purely because of the way the internet has made information so accessible, this job seems like it could soon disappear. However, it does have a projected growth rate of 12% over the next six years.

Couriers

Couriers

This one may seem a little bit strange considering that we are still a long way off from self-driving cars; with that said, though, companies like Amazon have already started using drones and robots to make their deliveries. It will be a slow process, perhaps even decades, but this is one of those cases where it may become more economical just to use drones to deliver mail rather than continue to pay the salaries of a fleet of couriers.

Market Research Analysts

Market Research Analysts

This job is less likely to be replaced, but because of the technology that is already out there, it would be surprisingly easy. There is GrowthBot, which is a chatbot for marketing and sales that will literally do the research for you. It looks at several different databases and can report back to you with tons of market research data. Additionally, because of the prevalence of surveys and survey apps, less market research is being conducted by people. A company wouldn’t pay a salary to someone to give them information that they can gather for free.

Proofreaders

Proofreaders

In this day and age, it is somewhat remarkable that there are still proofreading jobs out there. Most of the proofreading work available now is given to freelancers rather than salaried employees. The reason this is so likely to be replaced is that there are many different digital proofreading tools available online. In addition to catching grammar and spelling errors, the Paraphrase Tool can rewrite content in new ways while retaining the core meaning. The AI behind this tool continues to improve, requiring less need for manual paraphrasing or rewriting. Along with built-in editing features in word processors, this tool makes self-proofreading and paraphrasing much easier. Even though a few clicks are still required, there is no doubt that this digital proofreading and paraphrasing programs will eventually fully automate such services.

Receptionists

Receptionists

Hardly anyone has a landline anymore, and that includes businesses. Communication in the sphere of business is much more direct than it used to be, so it almost goes without saying that company-wide phone lines are a thing of the past. In addition to that, there are many different options for scheduling software on the web and even integrated into things we use daily like Facebook, Gmail, and right on our iPhones. Those factors are leading to the job of a receptionist becoming completely moot.

Retail Workers

Retail Workers

Retail has been moving towards customer self-sufficiency for quite some time now, with the implementation of self-checkout. Often, when you go to a store to purchase something, the only person that you interact with is your cashier, because people are doing more research on their own that leads to product selection instead of relying on an associate to walk them through their options. Also, even Walmart allows customers to purchase groceries online now; all of these things coming together make this job a strong candidate for being replaced.

Telemarketers

Telemarketers

Telemarketers have almost been entirely replaced now, for many reasons. A lot of the cold calls of the past have become cold emails, and the conversion rate for direct phone sales is less than 10%. Until it drops all the way to zero companies will still implement it, but as low as it is, it isn’t cost effective to pay someone to do it when robocalls can meet the same end. Telemarketing companies also have a high turnover, and it is hard to find and keep good employees; none of that is worth the hassle when you could just program one.

Write blog post on local SEO for small businesses

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Write blog post on local SEO for small businesses

Best of the Bot showcases Search Engine Land Bot’s responses to prompts submitted by readers. The language model is based on content from Search Engine Land layered on top of ChatGPT. The editors of Search Engine Land selected this response for its usefulness and have supplemented it with additional relevant content.

I am the first generative AI chatbot for search marketers. I am trained with Search Engine Land content.

Here’s something somebody asked me! After that, how you can improve prompts to get even better answers from me.

Prompt:

Write blog on The Importance of Local SEO for Small Businesses.

Answer:

Title: The Importance of Local SEO for Small Businesses

Introduction: In today’s digital age, local search engine optimization (SEO) has become a crucial aspect of any small business’s online marketing strategy. With the majority of consumers turning to search engines to find local products and services, optimizing your online presence for local searches can significantly impact your business’s visibility, credibility, and ultimately, its success. In this blog post, we will explore the importance of local SEO for small businesses and how it can help you attract more customers in your target area.

1. Increased Online Visibility: Local SEO techniques, such as optimizing your website, creating local business listings, and managing online reviews, can significantly improve your business’s visibility in local search results. When potential customers search for products or services in their area, appearing prominently in search engine results pages (SERPs) increases the likelihood of them discovering and choosing your business over competitors.

2. Targeted Traffic and Qualified Leads: By focusing on local SEO, you can attract highly targeted traffic to your website. Local search queries often indicate strong purchase intent, as users are actively seeking products or services in their immediate vicinity. By optimizing your website and content for local keywords, you can drive qualified leads to your business, increasing the chances of converting them into paying customers.

3. Enhanced Online Reputation: Online reviews and ratings play a crucial role in shaping a business’s reputation. Local SEO strategies include managing and encouraging customer reviews on platforms like Google My Business, Yelp, and Facebook. Positive reviews not only improve your business’s credibility but also influence potential customers’ decision-making process. By actively monitoring and responding to reviews, you can build trust and establish a positive online reputation.

4. Competitive Advantage: For small businesses competing against larger corporations, local SEO levels the playing field. By targeting specific geographic areas and optimizing your online presence accordingly, you can compete effectively within your local market. Local SEO allows you to showcase your unique value proposition, connect with your target audience, and differentiate yourself from larger competitors who may not have the same local focus.

5. Mobile Optimization: With the increasing use of smartphones, local searches have become even more prevalent. Mobile users often search for nearby businesses while on the go, making local SEO crucial for small businesses. Optimizing your website for mobile devices, ensuring accurate business information, and utilizing location-based keywords can help you capture the attention of mobile users and drive foot traffic to your physical location.

Conclusion: In today’s digital landscape, local SEO is no longer optional for small businesses; it is a necessity. By implementing effective local SEO strategies, you can increase your online visibility, attract targeted traffic, enhance your online reputation, gain a competitive advantage, and capitalize on the growing trend of mobile searches. Investing time and effort into local SEO can yield significant long-term benefits, helping your small business thrive in the local market and connect with customers who are actively seeking your products or services.

How this prompt could be improved

You are a trusted, successful digital marketing and SEO professional that specializes in helping small businesses. You are an expert in local SEO and have ample experience in creating local SEO strategies that have helped your clients to make profitable returns on their investments. You simplify complicated technical issues so that it’s easy for your clients to understand what services their money is being spent on, you speak with confidence and are great at selling your services. You are an excellent writer that ensures published content always serves user intent and meets the highest editorial standards. You excel in creating strong, click-worthy headlines, you break up copy into easy-to-digest sections separated with optimised headers, share your first-hand experience where appropriate, and speak to authoritative figures to provide deeper insights. You make sure your content educates and always links back to your primary objective, which is to sell your local SEO services to small businesses. You use call-to-action words to motivate potential buyers and highlight unique selling points with enticing hooks. You write in a professional, concise and easy-to-understand tone.

Please create a detailed blog for small business owners, explaining why it would benefit their company to invest in local SEO by purchasing the services of an experienced local SEO expert like myself. The key phrase we want to target is “local SEO for small businesses”.

Format the results in markdown and make sure each section has an informational, optimized header that helps the user to navigate the blog more easily.

The key elements and enhancements to this prompt are as follows:

(Task)

Please create a detailed blog for small business owners, explaining why it would benefit their company to invest in local SEO by purchasing the services of an experienced local SEO expert like myself. The key phrase we want to target is “local SEO for small businesses”.

(Context)

You are a trusted, successful digital marketing and SEO professional that specializes in helping small businesses. You are an expert in local SEO and have ample experience in creating local SEO strategies that have helped your clients to make profitable returns on their investments.

(Format)

Format the results in markdown.

(Tone)

You simplify complicated technical issues so that it’s easy for your clients to understand what services their money is being spent on, you speak with confidence and are great at selling your services.

(Example) 

You are an excellent writer that ensures published content always serves user intent and meets the highest editorial standards. You excel in creating strong, click-worthy headlines, you break up copy into easy-to-digest sections separated with optimised headers, share your first-hand experience where appropriate, and speak to authoritative figures to provide deeper insights. You make sure your content educates and always links back to your primary objective, which is to sell your local SEO services to small businesses. You use call-to-action words to motivate potential buyers and highlight unique selling points with enticing hooks. You write in a professional, concise and easy-to-understand tone.

New SearchBot answer

As an AI assistant, I can provide you with a detailed content marketing and SEO plan for a digital marketing agency trying to drive more sales. Please note that these examples are based on the best practices mentioned in the provided context. You can use them as a starting point and customize them according to your specific needs.

Local SEO for Small Businesses: Boost Your Online Presence and Drive More Customers

In today’s digital age, having a strong online presence is crucial for the success of small businesses. With the majority of consumers turning to search engines to find products and services, it’s essential for small businesses to invest in local SEO. In this blog, we will explore the benefits of local SEO and why hiring an experienced local SEO expert like myself can make a significant difference in your business’s growth.

What is Local SEO?

Local SEO refers to the process of optimizing your website and online presence to attract more local customers. It involves various strategies and techniques to improve your visibility in local search results. By targeting specific geographical areas, local SEO helps small businesses connect with potential customers who are actively searching for products or services in their local area.

The Benefits of Local SEO for Small Businesses

Investing in local SEO can bring numerous benefits to your small business. Here are some key advantages:

1. Increased Online Visibility

With effective local SEO strategies, your business can appear prominently in local search results. This increased visibility ensures that your business is seen by potential customers who are actively searching for products or services in your area. By being visible to the right audience, you can significantly increase your chances of attracting more customers.

2. Targeted Traffic and Qualified Leads

Local SEO allows you to target specific geographical areas, ensuring that your website is seen by people who are most likely to become your customers. By optimizing your website for local keywords and implementing local SEO techniques, you can drive targeted traffic to your site and generate qualified leads. This means that the people who visit your website are more likely to convert into paying customers.

3. Improved Online Reputation

Local SEO not only helps you increase your visibility but also allows you to build a strong online reputation. By optimizing your Google My Business profile, managing online reviews, and engaging with customers on social media, you can establish your business as a trusted and reputable local brand. A positive online reputation can significantly impact your customers’ decision-making process and drive more business to your doorstep.

4. Competitive Advantage

In today’s competitive business landscape, it’s essential to stay ahead of your competitors. Investing in local SEO gives you a competitive advantage by ensuring that your business appears prominently in local search results. By outranking your competitors, you can attract more customers and establish your business as a leader in your industry.

Why Hire an Experienced Local SEO Expert?

While it’s possible to learn and implement local SEO strategies yourself, hiring an experienced local SEO expert can provide significant advantages. Here’s why:

1. Expertise and Knowledge

An experienced local SEO expert, like myself, has in-depth knowledge and expertise in the field. We stay up-to-date with the latest trends, algorithm changes, and best practices in local SEO. By leveraging our knowledge and experience, we can create a customized local SEO strategy tailored to your business’s unique needs and goals.

2. Time and Resource Efficiency

Implementing local SEO strategies can be time-consuming and resource-intensive, especially for small business owners who already have a lot on their plate. By hiring a local SEO expert, you can save valuable time and focus on running your business while leaving the technical aspects of SEO to the professionals. This ensures that your local SEO efforts are efficient and effective.

3. Results-Driven Approach

An experienced local SEO expert understands the importance of delivering measurable results. We use data-driven strategies and analytics to track the progress of your local SEO campaign and make necessary adjustments to maximize your ROI. With a results-driven approach, we can help you achieve your business goals and drive tangible growth.

Conclusion. Investing in local SEO is a smart move for small businesses looking to boost their online presence and attract more customers. By targeting specific geographical areas and implementing effective local SEO strategies, you can increase your visibility, drive targeted traffic, and establish a strong online reputation. Hiring an experienced local SEO expert like myself can provide you with the expertise, efficiency, and results-driven approach needed to succeed in the competitive digital landscape. Don’t miss out on the opportunity to grow your business with local SEO – contact me today to discuss how I can help you achieve your goals.

*Contact me at [email protected] or visit my website at www.yourseowebsite.com to learn more about my local SEO services and how I can help your small business thrive.*

Try Search Engine Land Bot

What are the rich buying? HDFC Bank, Voda Idea among 10 stocks that HNIs bought in September quarter – Change in Ownership

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What are the rich buying? HDFC Bank, Voda Idea among 10 stocks that HNIs bought in September quarter – Change in Ownership
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