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  • Bit by Bit 29th Jan || ITC shares surge in a weak market, trade near 52-weak high || James Webb Space Telescope helps scientists’ study icy rings of asteroid Chariklo & more

Bit by Bit 29th Jan || ITC shares surge in a weak market, trade near 52-weak high || James Webb Space Telescope helps scientists’ study icy rings of asteroid Chariklo & more

January 29, 2023

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Good Afternoon Readers!

Here are:

"4 amazing stories in 4 minutes to make you future ready"

Happy reading!

MARKET UPDATE

  • NIFTY 50 : ₹17,604.35 (-1.61%)

  • BSE SENSEX : ₹59,330.90 (-1.45%)

  • NIFTY BANK : ₹40,345.65 (-3.13%)

  • USD/INR : ₹81.515 (+0.12%)

  • BRENTOIL : $86.33 (-1.30%)

  • MCXGOLD : ₹56,755 (-0.19%)

  • FII Net Cashflow : - ₹5978 crores

  • DII Net Cashflow : + ₹4252 crores

(Market Data as of 11:00 PM on 27/01/2022)

BFSI

The Story:

After two years of growth, private equity and venture capital investments fell by almost a third to USD 54.2 billion in 2022, which was marked by a "funding winter."

According to a survey by Ivca and EY, the year was nevertheless second best for India in terms of investments made by such long-term investors on expanding Indian enterprises.

According to the research, investments decreased in value by 29% from USD 75.9 billion in 2021 to 1,211 transactions, a decline of 4.6% from 1,269 transactions, and a substantial decline in large agreements was the cause of the loss. Future challenges include recession in the developed world, inflation returning, any escalation in geopolitical conflicts, and potentially new and contagious COVID-19 varieties.

According to the research, the financial services industry saw the greatest amount of interest in 2022, with 249 agreements totaling USD 10.8 billion in value.It stated that there had been a 55% decrease in exits, totaling USD 18.3 billion through 249 deals, and that this was due to the absence of significant strategic and secondary deals

FMCG

ITC stock has gained 68.50 per cent from the 52-week low of Rs 207, touched on February 24, 2022. The stock hit a 52-week high of Rs 361.90 on November 11, 2022.

In terms of technicals, the relative strength index (RSI) of ITC stock stands at 56.9, signaling it's neither oversold nor undersold. ITC stock has a one-year beta of 0.6, indicating low volatility during the period. ITC shares are trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages

Under the initiative, the company will put together strengths of its agriculture, food and hospitality business verticals to promote millets with plans to introduce products with the cereal in most of its categories.

Investors should buy only if daily close is above Rs 347 for targets of Rs 359-375 in the near term. Strong support will be at Rs 341."

TECH

The Story

Scientists have employed a new method using the James Webb Space Telescope to catch the starlight shadows created by the rings of the far-off asteroid Chariklo, in what NASA is calling an observational accomplishment of exceptional precision.

NASA scientists found that Chariklo is the host of a system with two thin rings in 2013 using ground-based telescopes. Such rings were thought to only be present around massive worlds like Jupiter and Neptune before their discovery. When Chariklo passed in front of the star, obstructing brightness, the scientists found the rings. In astronomy, this phenomenon is known as occultation. On October 18 of the previous year, NASA visited Chariklo once more when they used Webb's NIRCam (Near-Infrared Camera) equipment to meticulously observe a far-off star. Then, by keeping an eye out for distinctive drops in the star's brightness, they were able to spot Chariklo's rings.

Webb retargeted Chariklo shortly after the occultation, but this time to gather observations of the starlight reflected by the asteroid and its rings. The system's spectroscopic measurements showed three bands of water ice absorption near Chariklo. The asteroid itself is the source of the majority of the light that the system reflects. According to current models, the size of the observable ring is probably one-fifth that of the body itself. To isolate the contribution of the rings themselves, however, researchers will need to study Chariklo with Webb for a period of several years as the viewing angle changes.

Anything Interesting

The Story:

I was raised in a culture of reverence for Gandhi, having been born in 1958, ten years after the Mahatma's passing. One of my great-uncles assisted in editing Gandhi's Collected Works, while another started a ground-breaking community health effort motivated by Gandhi.

The public culture of the time strengthened and reinforced these familial influences. Gandhi was the founding father of the country and the leader of the revolt against British rule. His nonviolent tactics of resistance attracted fans and copycats from all over the world.

Pl He played a significant role in our freedom and proud independence. He also played an important role in that, unlike our neighbour Pakistan, we were proud of our country's religious and linguistic variety. Gandhi rewrote a 17th-century song we sang during our school assembly to reflect his idealised vision of India that he wanted to leave behind. Hindus referred to God as Ishwar; Gandhi's adaption urged us to refer to God as Allah. And it was these sentences that our teachers specifically called our attention to.