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MUMBAI: How often do you come across a PSU that is performing consistently well on the bourses? This city gas distributor, the country’s largest, is in no mood to slow down, and is the only state-run company whose stock has been ruling at record high levels.The company is Gujarat Gas.Stellar quarterly earnings, a booster to its key market in Morbi, a ceramic hub, as huge anti-dumping duty levied on Chinese ceramics by many countries, including the US, has further boosted the prospects of this stock.The stock has risen 42 per cent so far this year, and scaled a record high of Rs 345 on Wednesday. It is the second-best performing PSU stock so far this year, after Indian Railway Catering and Tourism Corporation (IRCTC), which is up 45 per cent for the year to date.This performance compares with the BSE PSU Index, which has eroded 24.3 per cent value in the same period, while BSE Sensex has risen 6.2 per cent.The stock price of Gujarat Gas has doubled in last three years, and 209 per cent in last five. The company has transitioned to a PSU from being an MNC unit until 2012.The BG Group acquired a majority stake in Gujarat Gas Company in 1997. In October 2012, it sold its 65 per cent stake for around $470 million to GSPC Gas, a unit of the state-run Gujarat State Petroleum Corporation (GSPC).GSPC Gas and Gujarat Gas Company were merged in 2015 to give birth to Gujarat Gas.Analysts have been most bullish on the stock in recent times after the company’s stellar quarterly earnings. At last count, the stock had 15 ‘strong buy’, 7 ‘buy’, 4 ‘hold’, 2 ‘sell’ and 1 ‘strong sell’ ratings, data from publicly-available Reuters Eikon database showed.A month ago, the stock had 12 ‘strong buy’ and 10 ‘buy’ recommendations.The company reported spectacular earnings growth on a sequential basis, while its standalone profit for the second quarter of fiscal 2021 stood at Rs 475 crore, compared with Rs 59 crore in the previous quarter.Angel Broking on Wednesday came out with a ‘buy’ rating on the stock, after the company reported 6.4 per cent volume growth for September quarter while Mahanagar gas and Indraprastha gas reported 37 per cent and 16 per cent degrowth, respectively.The brokerage said volumes are back to pre-Covid levels on strong demand from the industrial sector, which drives 80 per cent of the company’s total volumes.“Industrial demand is very strong in Morbi. Morbi ceramic is likely to get further boost on strong demand from the US, as they have imposed 200 -300 per cent of import duty on Chinese ceramic,” Yash Gupta- Equity Research Associate, Angel Broking.Morbi, Gujarat's largest industrial cluster by energy consumption, is a key market for the company. It accounts for around 60 per cent of total demand for Gujarat Gas. Around 90 per cent of India's, and 5 per cent of the world's, ceramic items are produced in Morbi.On November 23, Jefferies came out with a ‘buy’ rating on the stock, and set a price target of Rs 415. “With longer-term growth potential (less mature portfolio) and upside optionality of policy-driven volume upside, which is also higher than peers, Gujarat Gas remains our top pick,” Jefferies analysts said in a note on Indian city gas distributors.On November 5, Prabhudas Lilladher reiterated a ‘buy’ rating on the stock, while raising its price target to Rs 403 from Rs 388 earlier.The company reported strong Q2 earnings, led by higher-than-expected volumes and record spreads due to opportunistic sourcing of LNG.“Gujarat Gas’ competitive intensity will come down given the ban on cheaper liquid fuels. This will help smoothen margin and earnings, thereby reducing valuation discount to IGL. GGAS remains best play on rising trend to ban polluting fuels in industrial areas,” PL analysts saidThey also pointed to the strong demand for Indian ceramic tiles in US given that the country has imposed 200-350 per cent duty on Chinese imports, which will drive Morbi gas demand.Not everyone is optimistic on the stock.On November 6, Ambit Capital maintained a ‘sell’ rating on the stock, and raised its price target to Rs 260 from Rs 258 earlier, as it believes the company’s margins are too good to sustain.“Given its industrial skew and lower prices of alternate fuels, we believe that Gujarat Gas’ pricing power is limited. This would, in turn, compress margins,” Ambit analysts said in the note.They said Gujarat Gas is a play on gradual adoption of clean fuel by SMEs, rapid urbanisation and improving competitiveness of natural gas.“The current quarter performance is due to Gujarat Gas serving incremental volumes via cheaper spot gas. But that has now changed. Volatility makes us uncomfortable with its consumer-like valuations of 20 times FY22E P/E,” they said.Surprisingly, FIIs have been trimming their stake in the company for four quarters now. A total of 179 FIIs held 9.07 per cent stake in the company at the end of September, compared with 12.06 per cent a year ago.Mutual funds, on the other hand, have been raising their stake on the stock. They owned 7.14 per cent in the company at the end of September, compared with 4.41 per cent at the end of June 2019.

Wendy’s Co. has struck a deal with India’s Rebel Foods to open about 250 so-called cloud kitchens across the country, one of the most ambitious efforts yet to serve customers through delivery rather than the traditional fast-food stores as the industry adapts to the coronavirus pandemic.The US. company is experimenting with a new format as the Covid-19 outbreak makes many consumers unwilling or unable to visit traditional stores. Cloud kitchens, which derive their name from cloud computing, are remote facilities without seating or cashiers that prepare food exclusively for delivery.Wendy’s, with nine brick-and-mortar outlets in India, said it believes its cloud kitchen alliance is the largest yet in the industry. Rebel Foods, backed by Sequoia Capital and Goldman Sachs Group Inc., is the world’s largest cloud-kitchen operator with more than 300 locations.“India is one of our high-growth, high-potential markets,” Abigail Pringle, Wendy’s chief development officer, speaking via video conference from the chain’s headquarters in Dublin, Ohio. “I don’t know of any other global brand that has announced this kind of significant multiyear, multi-unit commitment.”As lockdowns and social distancing disrupt their business models, fast-food chains are experimenting with a variety of ways to adapt. With deliveries surging, many recognise their existing stores aren’t the optimal way to meet demand and have turned to cloud kitchens, also known as ghost or dark kitchens. Chains like Chili’s, Applebee’s and Chipotle have already set up their own delivery-centric virtual locations.Wendy’s push in India appears to be the largest cloud-kitchen outsourcing deal announced yet, based on the number of locations. Leading startups such as CloudKitchens and Virtual Kitchen, which work with a range of brands in the U.S. and abroad, have fewer than 100 sites. One fast-food operator in Thailand said it plans to open 100 cloud kitchens within five years.Wendy’s, with 6,800 restaurants in 30 markets worldwide, followed rival burger chains like McDonald’s Corp. into India, opening its first restaurant in New Delhi in 2015. It plans about 150 physical stores over the next decade, in addition to the cloud kitchen push. Sierra Nevada Restaurants, the chain’s franchise partner, will help with both initiatives.Wendy’s, once known for its “Where’s the beef?” tagline, has particular challenges in India, where the majority of citizens worship cows as sacred. Its local menu items include chicken chili, masala fries and the best-selling Rs 69 bun tikki, a spicy potato cutlet served between two burger buns.Rebel Foods, co-founded by former McKinsey & Co. alum Jaydeep Barman and his INSEAD business school classmate Kallol Banerjee, helped pioneer the cloud kitchen concept. The duo operate their own restaurant brands and are expanding into outsourcing for chains like Wendy’s. With money from Uber Technologies Inc. co-founder Travis Kalanick, along with Sequoia and Goldman, the company has grown to hundreds of kitchens across countries including India, Indonesia and the UK.Leveraging the fixed costs of tightly packed, centralised kitchens, it serves far-flung customers who have no idea where their food is prepared. With space-saving, stacked kitchens located in low-cost sites like industrial complexes or side alleys, its model helps side-step the costs of running traditional restaurants with seating and wait staff.The pandemic has accelerated the adoption of food delivery around the world. In the US, deliveries now account for more than 5.5% of Wendy’s overall business, while they’ve reached 11% in Canada.“For generations, brands building a national presence relied solely on a brick-and-mortar strategy and made significant investments over decades,” said Banerjee on a video conference call. Cloud kitchens are aimed at helping chains expand “at far lower levels of capital.”

NEW DELHI: Drug firm Aurobindo Pharma on Tuesday said it has completed the sale of Natrol LLC, a wholly-owned unit of its US-based subsidiary, to private equity firm New Mountain Capital. In October this year, the company had announced that it had inked a pact to divest Natrol LLC to private equity firm New Mountain Capital for USD 550 million. "The aforesaid transaction has been completed on November 30, 2020," Aurobindo Pharma said in a regulatory filing. Aurobindo Pharma had acquired Natrol in December 2014. Natrol's annual sales for the 12 months ended March 31, 2020, stood at around USD 157 million. Earlier, Aurobindo Pharma Managing Director N Govindarajan had said that proceeds from Natrol's divestiture will be used to reduce debt and other new strategic initiatives.

NEW DELHI: Drug major Glenmark Pharma on Tuesday said it has received tentative approval from the US health regulator for Axitinib tablets, used in the treatment of kidney cancer.The tentatively approved product is the generic version of Inlyta tablets of PF Prism CV.Glenmark Pharmaceuticals Inc, USA has received tentative approval by the United States Food & Drug Administration (USFDA) for Axitinib tablets in the strength of 1 mg and 5 mg, the company said in a regulatory filing.Quoting IQVIA sales data for the 12 months ending October 2020, Glenmark Pharma said the Inlyta Tablets, 1 mg and 5 mg market achieved annual sales of approximately USD 518.8 million.Glenmark's current portfolio consists of 166 products authorised for distribution in the US market and 45 ANDA's pending approval with the USFDA.

India's manufacturing recovery faltered in November as coronavirus fears weighed on demand and output, prompting firms to cut jobs for the eighth month in a row, a survey showed.Asia's third-largest economy and the second most affected country by the pandemic contracted 7.5% in the July-September quarter, compared to a record 23.9% slump in the previous quarter amid some signs of a recovery in manufacturing, official data showed on Friday.But the Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, declined to 56.3 in November from October's more than a decade high of 58.9, although it is well above the 50-level separating growth from contraction for a fourth month.Sub indexes tracking overall demand and output indicated robust growth but rates of expansion were the weakest in three months."Although the softening of rates of expansion seen in the latest month does not represent a major setback, since these are down from over decade highs in October, a spike in COVID-19 cases and the possibility of associated restrictions could undermine the recovery," noted Pollyanna De Lima, economics associate director at IHS Markit."Companies noted that the pandemic was the key factor weighing on growth during November, with COVID-related uncertainty also restricting business confidence."Recent resurgence in infections in some parts of the country pushed local governments to reimpose some restrictions on mobility, threatening the recovery.Millions have already lost their jobs or suffered pay cuts since the pandemic started and manufacturing firms reduced headcount for the eighth month in a row, a streak not witnessed since the survey began in March 2005.Meanwhile, the strongest rise in input costs since August forced firms to increase selling prices at the quickest pace in nine months, indicating overall inflation would remain above the Reserve Bank of India's medium-term target of 2-6%.That would limit the RBI's room to ease monetary policy further.Optimism about the coming 12 months waned for the first time in six months despite rising hopes on the progress of coronavirus vaccines, which has boosted global stock markets to record highs.

New Delhi: Farm equipment manufacturer Escorts Agri Machinery on Tuesday reported a 33 per cent rise in tractor sales to 10,165 units for November 2020. The company had sold 7,642 tractor units in November last year. Domestic tractor sales increased 30.9 per cent to 9,662 units, against 7,379 sold in November 2019. "The dealer and depot stocks continue to be low. Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest," Escorts Agri Machinery said in a regulatory filing. The company said the supply chain is still volatile but should improve going forward. "We have taken a price increase this month to pass on the inflation in the commodity prices," the company added. Tractor export in November 2020 stood at 503 units, against 263 in the same month last year.Untitled Carousel 79491447 79504500

MUMBAI: Specialisation, which has been driving growth for consumer goods, is now showing a marked increase for one of the most mundane products in the market — toothpaste. Need-based offerings are showing a sharp uptick. These include addressing tooth sensitivity, whitening or with herbal and ‘natural’ flavours.As a result, the market is fast moving from generic all-in-one toothpastes to more need-based offerings such as whitening, mint & herbal flavours, and those that address sensitivity. This is in line with global trends where specialty toothpastes are being developed, while some have been repositioned in the beauty/lifestyle category.Toothpaste, with a market size of around Rs 10,000 crore, is one of the most highly penetrated products and is growing at 2-3%. A case in point for specialisation is the sensitivity category, growing five to six times faster than the overall oral health category. 79501786Tapping this potential, GSK Consumer Healthcare is expanding its flagship brand Sensodyne with a specialised oral health care product Polident — a denture care fixative. “Across categories, consumers today are looking for products that cater to their specific needs vs offering all-in-one benefits. The same is true for the oral health category with toothpastes as well. Over time, preference has shifted to toothpastes with a sharply defined benefit proposition — sensitivity relief, freshness and so on. Sensodyne has tapped into this trend to define the sensitivity segment over the last 10 years,” GSK Consumer Healthcare area marketing lead (OH) Anurita Chopra told TOI. Similarly, the ‘natural and ayurvedic’ sub-segment of the toothpaste market is growing at a faster clip. As against this, the overall oral care category grew by around 5% in Q2 of 2020-21. “We are seeing a marked shift in consumer demand for ayurvedic and herbal toothpastes with consumers increasingly seeking natural value-added remedies for their oral hygiene needs. During Q22021, Dabur reported a growth of 24% in our toothpaste business with our flagship brand Dabur Red Paste seeing strong double-digit growth. Our Babool and Meswak brands also reported double-digit growths. We have now expanded our oral care portfolio with the launch of Dabur Dant Rakshak Ayurvedic toothpaste. On a quarterly basis, our volume market share has increased by 90bps (100 basis points = 1 percentage point) in Q2 2020-21 to reach 16.4%, which is our highest ever market share in the toothpaste category,” Dabur India CEO Mohit Malhotra said. The need-based or functional categories in oral care are growth drivers for a while now. “These toothpaste categories — gel-based, ‘natural or herbal’ and those addressing sensitivity — have been outperforming the market, and will corner a larger share over the next few years. The trend started in the late ’80-’90s with consumers taking a fancy to gel-based toothpastes, then herbal or ‘natural’ toothpastes became popular. The growth is attributed to smart advertising and marketing by companies, and the trend of premiumisation being witnessed in oral care, similar to what’s happening in consumer goods in general,” said ICICI Securities research head Manoj Menon.

Synteract - USA - - Permanent - Full-time

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Blount Memorial Hospital - Maryville, TN - - Permanent - Full-time

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Blount Memorial Hospital - Maryville, TN - - Permanent - Full-time

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Advanced Clinical - Deerfield, VA - - Permanent - Full-time

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Berkeley Lab - California - - Permanent - Full-time

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M&T Bank - New York City, NY - - Permanent - Full-time

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Baylor Scott & White Health - Temple, TX - - Permanent - Full-time

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Walmart - Centerville, IN - - Temporary - Full-time

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Hogan Transportation - South Solon, OH - - Permanent - Full-time

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Chalk Mountain Services - USA - - Permanent - Full-time

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NEW DELHI: The arbitration award to Vodafone by the Hague-based Permanent Court of Arbitration (PCA) in the long-standing tax dispute was recently discussed at the highest level of the government as the deadline to appeal against the verdict approaches.While there is a strong view within the administration that the award should be challenged at the Singapore-based appellate tribunal, no final decision has been taken yet, said people familiar with the development.The issue was discussed at a recent meeting where Prime Minister Narendra Modi was present. The government has time till December-end to appeal against the award and another meeting is likely to be held soon to finalise a response, said these people.A final call on the issue would be taken after examining all pros and cons, including the legal ramifications and impact on investment sentiment.Some experts are of the view that India should not appeal against the arbitration award as it would send a positive signal to foreign investors and close the vexed Vodafone retrospective tax issue that has dogged successive governments since 2012.But the dominant feeling within the government is that the award should be challenged as it questions India’s sovereign right to tax.Taxation a Sovereign RightThis award will also set a precedent for future taxation issues to be raised under the India-Netherlands bilateral investment promotion agreement and similar treaties. New Delhi’s position is that taxation is a sovereign right that cannot be challenged under bilateral investment treaties.Solicitor General Tushar Mehta has backed an appeal against the award.The government is also considering the implications of a soon to be announced verdict in another arbitration case involving Cairn Plc as it makes up its mind on the Vodafone matter. This case has been filed under the India-UK bilateral investment protection agreement and if Cairn wins the award, the tax authorities will have to return Rs 11,000 crore to the company.As India is bound to contest such a verdict on the grounds that bilateral investment treaties don’t encompass tax disputes, it would look strange if it took a different view in the Vodafone case, said people familiar with the matter. 79502318Retrospective DecisionsWhen the NDA government had assumed office in 2014, it had signalled its opposition to retrospective decisions on the tax front. In his first budget speech in July 2014, then finance minister Arun Jaitley had said while the government had the right to undertake retrospective legislation, it had to be exercised with extreme caution.At The Economic Times Global Business Summit in 2018, he had described the Vodafone retrospective tax decision as an erroneous one and said his government would not take up such matters.But policymakers say the current decision will revolve around the specific issue of whether tax disputes can be adjudicated under bilateral investment pacts and not on the larger issue of retrospective taxation.The Vodafone tax dispute has been festering since 2012 when finance minister Pranab Mukherjee amended income tax rules to nullify a Supreme Court ruling in favour of the telecom company. The ‘retrospective amendment’ made Vodafone liable to pay a total of Rs 20,000 crore, including penalties to the tax authorities. This liability, according to the tax department, arose because the $11.2 billion Vodafone-Hutchison Essar deal in 2007 was subject to capital gains tax, and Vodafone should have withheld tax.Subsequently, the UK company initiated arbitration proceedings and an international arbitration court on September 25 this year ruled that the Indian tax department was in breach of “guarantee of fair and equitable treatment” under the bilateral investment treaty. The company was entitled to protection under the accord, said the arbitration court.Govt Liability at Rs 85 croreThe Indian government’s total liability in the Vodafone case following the ruling stands at about Rs 85 crore. If it does not challenge the award and win its appeal in the tribunal, the income tax department may have to refund the Rs 45 crore already collected toward the tax levy and £4.3 million (about Rs 40 crore), which is 60% of the tribunal’s administrative costs.The government on November 17 had sought more time from the Delhi High Court in an ongoing tax case with Vodafone saying that a decision on appeal against the arbitration award will be taken by an empowered committee of the cabinet. The high court will now hear the matter on December 8.This case deals with the government’s appeal against a single judge bench order that had allowed Vodafone Group to initiate second arbitration proceedings under the India-UK Bilateral Investment Promotion and Protection Agreement.

New Delhi: Finland’s Nokia and Sweden’s Ericsson want India to include their existing manufacturing-related investments in the production-linked incentives (PLI) scheme, which was recently announced by the government for telecom and networking products. The scheme is expected to support and incentivise exports from India, similar to the plan which has kicked off for the mobile handset industry. The European telecom gear vendors also want India to focus on bringing the component ecosystem under the new scheme, which aims at giving sops of nearly Rs 12,200 crore. “Cost levels in India productions are a little higher than other countries, so I really welcome this kind of a policy which is coming up to provide incentives for local manufacturers because that really helps the Indian economy,” Sanjay Malik, the India market head for Nokia told ET. “The whole policy framework is known at a very high level... We are also awaiting details. but there’s only one appeal from my side that it (scheme) should be looking at providing these incentives for future as well as for the past investment.” Ericsson’s India head Nitin Bansal also said that “investments that are already made should also be considered in some way under the PLI scheme”. Both gear vendors have given commitment to their largest client, Bharti Airtel, that all 5G equipment will be locally manufactured. Ericsson and Nokia manufacture telecom gear in India through respective facilities in Pune and Chennai. Both companies also export telecom equipment, including 5G gear, to other countries.

New Delhi: Vodafone Idea (Vi) is expected to lose 50-70 million subscribers in the next 12 months after haemorrhaging 155 million subscribers in the last nine quarters, Fitch Ratings said, adding that Reliance Jio Infocomm could net more than half of Vi’s subscriber losses, with Bharti Airtel bagging the rest. “We expect Bharti and Jio to increase their combined revenue market share to 80% (it was around 74% by September) in the next 12-18 months,” Fitch Ratings said on Monday. In the second quarter, Airtel added 14 million subscribers — double that of Jio's seven million. Vodafone Idea is rapidly losing market share given its weak balance sheet and limited financial flexibility. Fitch said Vodafone Idea's plan to raise about $3.4 billion through a mix of equity and debt is unlikely to restore its competitive position and reverse subscriber losses, as it would still be insufficient capex. 79498837 Vodafone Idea has so far paid about $1.1 billion of its total $8.9 billion dues required to be paid to the telecom department as adjusted gross revenue (AGR).Outlook on Airtel Fitch Ratings on Monday also affirmed Airtel’s long-term foreign currency issuer default rating (IDR) and senior unsecured rating at ‘BBB-’. The outlook on IDR is negative. It also affirmed Bharti Airtel International (Netherlands) BV’s senior unsecured guaranteed bonds at ‘BBB-’ and Network i2i Limited’s subordinated perpetual bond at ‘BB’. Fitch, however, added that the negative outlook does not reflect its view of Bharti's underlying credit profile — which has been improving due to strong growth in the Indian and African wireless operations — but rather the heightened probability that India's country ceiling (BBB-) could be lowered to ‘BB+‘. “Such an action would constrain Bharti’s IDR and senior issue ratings to BB+."“"We forecast Bharti’s (FY21) funds from operations (FFO) net leverage to be 2.2x-2.4x, below the threshold of 2.5x above which we will take negative rating action, the agency said in a release. “We expect Bharti's FY21 revenue and Ebitda to rise by around 17%-25%, on improvement in the Indian wireless market and continued strong growth in African markets,” Fitch said. It added that Airtel’s Indian wireless Ebitda is expected to rise 40-50% in FY21, led by 15 million subscriber additions and monthly average revenue per user (ARPU) improvement of 10%-12%. The agency also expects Airtel to generate small positive free cash flow in FY21 on flat core capex, lower interest costs and the two-year moratorium on the payment of existing spectrum dues, which will defer about $840 million in each of FY21 and FY22. “We expect FY21 as absolute core capex will most likely be flat at ₹210-220 billion (FY20: ₹221 billion), ignoring one-time payments for spectrum assets,” noted the ratings agency.

Mumbai: Indian savers rarely have had to brood over eroding values of their fixed deposits unlike their Western counterparts. While interest rates in India have not been cut to the near-zero levels as in the advanced economies, the Reserve Bank of India’s latest experiment with negative real interest rates, in an attempt to jumpstart the economy, is forcing squirrels out of their burrows. Result: They are dipping their toes into shares that have hitherto been ignored by the markets — and even out-of-favour residential properties.Real rate is the return that a security earns over inflation. Currently, the safest banks offer around 5% for one-year fixed deposits, while the consumer inflation in October was at 7.6%. So, the current real rate of return — before taxes — is -2.6%, which essentially means inflation is eating away at the value of savings. Effectively, negative real rates punish cash hoarders.So how are savers reacting? The concept of real rates is alien to most small-time savers, who are oblivious of the impact of higher inflation on savings rates. That said, the sharp decline in interest rates by banks is already hurting savers — mainly the retired. The more affluent and knowledgeable are, however, churning their portfolios to include assets that would help them keep up with the price spiral.The shift is to higher risk products. For instance, October witnessed a flood of outflows from safe liquid mutual fund schemes by institutional and well-heeled investors to some other debt categories. The current annual returns from liquid schemes are 3-3.5%, which makes real returns -4-4.5%. Rich investors who parked their money in deposits and safe debt mutual funds are moving some of this money into stocks. The beneficiaries of this shift have been the battered mid- and small-cap stocks. Investors are willing to up their allocations to equities even after the record-breaking run because of the assumption that flows from global funds are unlikely to reverse for now. Some wealth managers have been asking their clients to buy shares of battered public sector companies with dividend yields of as high as 10.5% as a substitute to low-yielding fixed deposits. In short, RBI’s experiment of smoking the squirrels out is forcing money to move around. When a central bank keeps the real rates wafer-thin or in the negative zone, the intention is to push savers to spend and lift the economy out of the slump. It is too early to conclude that people are en masse breaking their deposits and spending but they are certainty looking to make their make their money work harder.The real success for the RBI will, however, be when the negative real rates manage to move the needle in the comatose real estate market. A revival of this sector is considered crucial for kickstarting activity on the ground. The experiment worked well in the US in 2008-09, when the Fed brought in negative real rates in response to the collapse of the economy following the global financial crisis.While the government has been exhorting developers to clear their inventories, wealthy investors are scouting for opportunities in the affordable housing space, which is where the opportunities are as the Work From Home (WFH) format and low interest rates are expected to attract homebuyers in far-flung suburbs. Unlike savers, borrowers benefit from negative real rates. But since these are early days, the rush is still missing.Investors, who are not keen on being early birds in the sector, are combing the stock market for opportunities linked to a rebound in real estate.The best bet on the segment would be the property developers themselves but options here are sparse with most listed companies being in the luxury market - or laden with scary amounts of debt. So, they are looking for close substitutes such as housing finance companies and segments that cater to the construction of properties despite worries about some of their health.The stock market looks overheated at current levels but unattractive interest rates continue to make equities look appealing. But it also means that the stock market could increasingly become vulnerable to inflationary pressures. That could be one of the reasons investors are now looking for a margin of safety in the equity investments rather than opting for the growth theme at any cost.For its negative real rate experiment to work, RBI would be less worried about asset-price inflation compared to real inflation.

Mumbai: Leading Indian carmakers are spreading the cheer of an unexpectedly strong revival in demand during the August-October festive season among employees by doling out increments after several gloomy months for the industry triggered by the Covid-19 pandemic.Utility vehicle and tractor major Mahindra & Mahindra is handing out increments to employees effective December. Normally the company announces its increments on August 1 but it was deferred this time due to the pandemic and consequent uncertainties.“With a reasonable amount of normalcy restored, we’ve decided to go ahead with annual increase now,” said Rajeshwar Tripathi, CHRO at M&M. “Our increments will be effective December onwards and will not be backdated,” he added.Other market leaders like Maruti Suzuki, Hero Motocorp, Royal Enfield, TVS Motors, Hyundai, Kia and MG Motors have also been handing out annual increments to employees over October and November.Maruti Suzuki announced salary increments across cadres in October, said R Uppal, senior executive director for HR and IT.“Our merit-based salary increments along with the performance-based variable payouts were well above the industry average and were made for all associates from workmen to senior management,” said a Hero Motocorp spokesperson. “Around 15% of our employees were also elevated to the next level,” the official said.79498699The payouts are aimed at “bringing in a sense of positivity and motivation” among employees during uncertain times.“During such trying and uncertain times, it is necessary to take care of the employees,” said Tripathi.What has prompted companies to take this step is the fact that the market has recovered sooner than expected amid pick-up in rural demand and entry level passenger cars as well as two-wheelers. Auto sales grew 17% in the last three months and companies are making sure employee morale stays high.“Auto companies, which had taken stringent measures due to cash flow issues, are now reversing salary cuts, giving increments and bonus,” said Kavan Mukhtyar, partner & leader, Automotive, PwC.However, truck majors Ashok Leyland and Tata Motors are holding back increments this year.“We are not looking at increments for the year,” said Balachandar NV, president - HR, Ashok Leyland.“Tata Motors does not plan on giving increments this year,” said a top company official, who does not wish to be identified. The company paid bonuses to its employees in September. “There are two types of discussions taking place with our auto clients – while the ones in the entry level passenger vehicle and two wheeler spaces are the ones that are seeing a rebound and giving out the increments, those in the commercial vehicle space will take a view only from April,” said Ryan Lowe, partner, people advisory services, EY India. “Many CV manufacturers did not give out increments even last year and we are working with them now and a call will be taken only from April,” he added.Commercial vehicle sales were down 20% for the quarter ended September 2020.HR heads and compensation experts said the disruption caused by the pandemic will impact the quantum of increments and may not be the same across the board. “Hikes will be in 5-8% range. Top performers will take a greater share,” said Lowe.

Mumbai: High net worth individuals (HNIs), ultra-HNIs and even informed retail investors have lapped up trades that offer annualised returns of between 15 per cent and 54 per cent by buying futures contracts and simultaneously selling underlying shares of Kotak Mahindra Bank, MRF, Bajaj Finance and Shriram Transport Finance Company that have seen heavy cash-based buying recently due to MSCI inflows running into billions of dollars.Termed reverse arbitrage, the trades exploit spot-futures mispricing due to supply-demand factors like the recent MSCI rebalancing-induced heavy cash buying, or corporate actions that lead to heavy futures selling due to anticipated fall in cash market shares. The trades in the current context offer risk-free monthly spreads or returns of 1.2-3.6 per cent. On an annualised basis, the returns gross 15-16 per cent and 54 per cent in one case. Kotak Mahindra Bank December 31 futures last traded at a Rs 23.3 a share discount (1.24 per cent monthly spread) to the spot price of Rs 1885.3, MRF futures were at a 2.11 per cent discount, Shriram Transport Finance (3.64 per cent) and Bajaj Finance (1.28 per cent). While Kotak Bank and MRF were inclusions into the MSCI India Index, Bajaj Finance and Shriram Transport Finance attracted buying on anticipated weightage increase.The constituents entering into such trades either own significant quantities of the underlying shares or have access to the exchange's stock lending and borrowing (SLB) platform. On the SLB, she can borrow the share for a fee from a counterparty, besides placing a 125-150 per cent cash margin against the borrowed shares.“The MSCI rebalancing has opened a reverse arb (arbitrage) opportunity, which is being exploited by arbitrageurs and other informed participants," said Rajesh Baheti, MD, Crosseas Capital.Normally, equity futures trade at a premium to the underlying spot price — called cash and carry arbitrage. That is because the futures price equals spot price plus cost of carry, which is nothing but the interest rate to fund the purchase of shares minus dividend earned.In the event of higher demand for cash shares relative to futures or heavy selling of futures due to anticipated fall in cash price, the carrying cost turns negative, opening an opportunity to buy the futures and sell cash shares.As spot and futures prices converge at or near expiry of a derivatives series, the trader pockets the pricing differential. At this stage the trade is reversed -- futures are sold and cash is bought back.“This is an event-based trade that aims to exploit mispricing between futures and spot for handsome, risk-free returns," said Chandan Taparia, analyst, Motilal Oswal Financial Services.“It's a no-brainer trade for those in the know," added Rajesh Palviya, derivatives head, Axis Securities.Such has been the buying frenzy in cash shares that Kotak Bank in the past seven sessions through November 27 saw delivery to traded volumes of 52-65 per cent against the three-month daily average delivery volume of 47 per cent. For MRF, delivery volume on November 27 alone was 67 per cent against the three-month daily average of 33 per cent. In Bajaj Finance, the past five days saw delivery to traded percentage at 19-56 per cent against the three-month average of 16 per cent. For Shriram Transport, Friday itself saw delivery volume of 60 per cent against the three-month daily average of 19 per cent.“Kotak Mahindra Bank and Bajaj Finance were the active MSCI names," said Abhilash Pagaria, senior manager, Edelweiss Alternative Research. "On SLB, proprietary desks borrowed and sold stocks to take advantage of the reverse arb opportunity."Brokers expect much of the MSCI related buying to have concluded by Friday as the global index management company announced on November 10, the rebalancing of the indices.

MUMBAI: The outlook for Indian real estate sector remains resilient in the year 2021 following the sluggish movement across segments including commercial and residential property market in most part of 2020, said property consultant Knight Frank India.According to the consultant, the Bengaluru office market is expected to experience a rise in office rentals in the next year while Mumbai and National Capital Region are expected to remain stable in rental values. These trends indicate that despite a bleak period between April-June 2020, overall demand for office space could remain strong in the New Year.For the main office markets of India, the positive trends are a draw out of the encouragement received in the second half of the year that saw office space demand making a comeback, albeit still short of pre-COVID periods.Bengaluru, in particular, has the benefit of existing low vacancies that will enable absorption of much of the upcoming supply. The city also has the advantage of relatively lower rentals compared to global markets and a large talent pool that should help in quicker revival of this market as global economies move towards normalcy. According to the report, Asia- Pacific prime office rents are expected to decline between-3% to 0% in 2021.“The year 2020 has been dominated by the pandemic which resulted in low activity in Q2 2020 (April – June) and segments across the Indian real estate sector remained subdued. However, with positive measures being taken up by the government and the RBI, we saw momentum resume in Q3 2020. The beleaguered residential sectors received a new lease of life during this period and demand saw an unprecedented surge. This has created a sense of optimism in the sector,” said Shishir Baijal, CMD, Knight Frank India.He believes the office sector is also expecting to see a revival with economic activities opening up worldwide with news of the mass vaccine for COVID being only month’s away.Knight Frank expects Asia-Pacific prime office rents to decline between -3% to 0% in 2021. In contrast, Bengaluru’s office market witnessed a surge in prime rents in 2021 whereas Mumbai and NCR office rentals remained stable in the same period.Despite the rental decline, the prime grade office asset values are expected to remain relatively stable due to their more resilient lease profiles, and low-interest-rate environment.The prices of prime residential markets in Indian cities including Mumbai, NCR, and Bengaluru are expected to remain stable in 2021. However, the re-opening of borders will also bring back high-net-worth foreign buyers who have mainly been absent this year.The demand for warehousing remained relatively resilient this year, correcting only by 11% on-year, as compared to the 44% CAGR recorded from FY17 to FY20. Despite the ongoing pandemic, the Indian warehousing sector is expected to remain comparatively less impacted due to rising e-commerce demand which is expected to grow from $70 billion in FY19 to an estimated $160 billion by 2022.With an increase in demand from e-commerce, India’s online retail growth is estimated at 13% on-year in 2020. In October 2020, the asking industrial rents for Mumbai, Delhi, and Bengaluru warehousing remained stable and are expected to remain unchanged for the year 2021.In terms of Asia-Pacific capital market forecast, the commercial yields for Mumbai, NCR, and Bengaluru under the office and warehousing segment are expected to remain stable in 2021. In the APAC region industrial investment share of commercial transaction volumes increased by 50% in 2020 and is expected to continue to do well in 2021 as investors continue to jump on the e-commerce growth.

Mumbai: Attractive valuations for the Burger King’s initial public offer (IPO) has pushed up the grey market premium for the stock to nearly 56 per cent two days before the offer opens on Wednesday.The Rs 810 crore offer would comprise of Rs 450 crore of fresh issue and offer for sale of up to 6 crore equity shares by promoter QSR Asia and would be sold in Rs 59-60 price range. At the upper price band, the OFS is valued at Rs 360 crore. Also, the company raised Rs 92 crore as pre-IPO placement from Amansa Investments in November.Dealers in the grey market said the stock was being traded at a premium of Rs 30-34, which translates to nearly 56 per cent premium to the offer price.“The IPO is seeing good traction in the unlisted market. Basically, investors are comparing it with Jubilant FoodWorks, and the valuations are cheap in comparison,” said Dinesh Gupta, co-founder of Unlisted Zone.Angel Broking pointed Burger King’s peer Jubilant Foodworks is currently trading at 8.7 EV/sales on FY20 basis.“Burger King won't get such a premium valuation as Jubilant Foodworks as it does not have a profitability track record like Jubilant. Its outlets are young and we believe that the majority of the Indian people prefer Jubilant--Pizza over burgers sold by Burger King,” Angel Broking said.“So Burger King has priced its issue at a significant discount compared to Jubilant Foodworks; so looking at the valuation and the growth the company is expected to do in the future, the issue is looking attractive to us at the first look,” it added.The burger chain intends to use the proceeds from the fresh issue funding the rollout of new company-owned Burger King restaurants by way of repayment or prepayment of outstanding borrowings of the company and for general corporate purposes. Under the Master Franchise and Development Agreement, the company is required to develop and open at least 700 restaurants by December 31, 2026.The company's food and beverages revenues jumped over 2-fold to Rs 835.32 crore in FY20 from Rs 375.20 crore in FY18. That said, the Covid crisis has had a significant impact on its results, with the six-month sales falling to Rs 134.69 crore compared with Rs 419.37 crore in the same period last year.Gross margins, which jumped to Rs 536.79 crore in FY20 over Rs 2,322 crore in FY18, fell to Rs 85.95 crore in the six months ended September 30 compared with Rs 269.94 crore in the year-ago period.“The IPO space is not very crowded right now, like we saw some time ago. Apart from attractive valuations, this has also pushed up the grey market premium for Burger King,” said a dealer who did wish to be named.The other striking feature of this IPO was lower quota for retail investors. As per the red herring prospectus (RHP), not more than 10 per cent of the offer would be available for allocation to retail individual bidders, in accordance with the SEBI ICDR Regulations.The IPO has reserved up to 15 per cent for non-institutional investors and up to 75 per cent for qualified institutional investors. Bids can be made for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter. Burger King shares are expected to debut on bourses around December 14.Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and JM Financial are the Book Running Lead Managers (BMR) for the IPO.Among the company’s peers, Domino’s Pizza has achieved the largest market share of the QSR sub-segment by number of outlets (19 per cent in FY2020) due to aggressive marketing, an attractive value proposition and a strong home delivery network.

New Delhi: Housing sales in 2020 is likely to rebounded to more than 50% of the overall sales clocked in 2019, according to property consultants Anarock.Anarock sold 1805 homes in September-October period, an 78% increase from previous year when the firm sold1,016 homes across top 9 cities in India and Dubai.According to Anarock, despite COVID-19, organic buyer demand boosted sales amidst ongoing festive offers and discounts, government incentives (particularly stamp duty cut in Maharashtra) & prevailing low home loan rates.“Our sales in these two months saw a 78% y-o-y jump over the same period in 2019. Much can be attributed to the multiple schemes and offers available across cities this year – particularly the limited-period stamp duty cuts in Maharashtra,” said Anuj Puri, Chairman – ANAROCK Property Consultants. “In many cities, these incentives add up to an overall financial benefit of 5-15% of the property cost. The rock-bottom home loan interest rates have also played a role in India, while NRIs seem to be making the most of the reduced property prices in Dubai,” said Puri. At an industry level, ANAROCK expects the top 7 cities to cumulatively record a 35% jump in housing sales in the ongoing festive quarter (Oct- Dec) against the July to September period (Q3 2020). “City-wise, MMR remains our most active market, with nearly 573 units sold in this two-months period amounting to an annual jump of 116%”, said Puri. “Interestingly, our sales in Chennai saw an almost five-fold yearly jump with 223 homes sold in Sept-Oct 2020, against just 45 units in the same period last year. Most sales are by end-users looking to buy and own homes in a marketplace radically transformed by the COVID-19 pandemic,” Puri added.

Students at the Indian Institute of Technology (IIT) Madras have received 182 pre-placement offers (PPOs) this year as compared to 170 PPOs in the last placement season. Companies take students as interns for a brief time lasting over a month following which they make job offers also called PPOs to these students. At IITs, students receive job offers as part of PPOs and direct recruitment by companies also called the final placements. The Phase I of campus placements is scheduled to commence on 1st December 2020 for the academic year 2020-21. Like the final placement this year which would be held virtually, even the internship drive was completely held online for the first time. “The sustained increase in the number of PPOs this year is a clear reflection of the academic quality of IIT Madras and its students. I am optimistic that we would be able to carry forward this momentum and our students would obtain the best possible job offers in Phase-1 placements," said professor CS Shankar Ram, Advisor (Training and Placement), IIT Madras.On the first day of the internship drive (30th August 2020), 17 companies participated virtually and made 140 Internship offers in comparison to 147 internship offers made in the preceding year. IT companies contributed the maximum to the PPOs (46%) followed by core and R&D (29%), analytic, consulting and finance (19%) and FMCG (6%).

The Trump administration has introduced via a ‘temporary final rule’ a visa-bond pilot program where applications from certain countries travelling to the US for business or as tourists will have to furnish a bond, it's denomination can be as high as $ 15,000.However, as the overstay rate for Indians travelling on B1/B2 visas (business and tourist visas) is not high, Indians are excluded from having to furnish such a bond under the pilot program. During the fiscal year ended September 30, 2019, nearly 12.26 lakh Indians who had visited US on these two visas were expected to depart, or in other words the authorised period of their visa tenure expired within this fiscal year. Only 13,203 overstayed which resulted in India’s overstay rate of 1.08% - much below the 10% which the Trump administration is focussed on targeting.The temporary final rule was published on November 24 and the pilot program will come into effect, 30 days post that, which is by end December. It will apply to nationals of specified countries with high overstay rates, which includes Afghanistan, Iran, Syria, Yemen and several African countries. It is intended to serve as a diplomatic tool to encourage foreign governments to take all appropriate actions to ensure that their nationals timely depart the US after their temporary visit.The pilot program will run up to June 24, 2021, during which period consular officers may require visa applicants falling within the scope of this program to furnish a bond of $5,000, $10,000, or $15,000 as a condition of visa issuance. The amount of the bond will be determined by the consular officer based on the circumstances of the visa applicant.TOI in its coverage of the Trump administration’s spring agenda issued in July had covered this proposal. Ironically, the temporary final rule states that the purpose of the pilot is to evaluate the operational challenges and is not aimed at assessing the effectiveness of the bonds for reducing overstays.

MUMBAI: As organizations reassess their overall office space requirements and look for workplace flexibility in the wake of the pandemic, activity in the co-working offices segment is likely to gather further momentum in the next year as operators will reposition themselves and continue to drive the commercial real estate market of the country.Leasing by co-working operators is expected to increase 42% on-year in 2021 to 4.9 million sq ft with shared offices likely to gain greater significance in the post-Covid world, showed a Savills India study.Co-working players are expected to close the year 2020 with leasing of around 3.4 million sq ft, accounting for 11% share of the total office leasing market. Although the overall leasing activity is expected to reduce significantly in 2020 as compared to 2019, it is expected to increase steadily over the next two years. The share of co-working space take-up in overall office leasing activity is poised to rebound to a 15% share in 2021, similar to the 2019 level.According to Savills, over 3,000 co-working centers across the country are likely to offer approximately 1.0 million desks by 2022. Additionally, leasing activity by the co-working segment is expected to grow by 29% during 2015-2022.“Over the years, shared office space has emerged as a separate asset class bringing significant cost-advantages to occupiers. While it was initially dominated by establishing workspace we have seen an increasing preference by mid-sized firms as well as large corporations,” said Arvind Nandan, Managing Director, Research and Consulting, Savills India.The ongoing pandemic is expected to lead to an array of trends in the co-working segment including the rise of marketplace platforms with sectoral expertise in flex spaces and increased consolidation with large investor-backed operators weathering the storm successfully. Co-working operators are also likely to tap into the residential and retail market offering an integration of retail centers and office spaces.“At a juncture when co-working spaces were seeing strong growth, the outbreak of Covid-19 has changed the rules with social distancing and de-densification of workspace becoming imperative. However, we believe that flexible workspaces will reinvent and reposition themselves, emerging stronger on the other side of the pandemic,” said Naveen Nandwani, Managing Director - Commercial Advisory & Transactions, Savills India.A survey conducted among occupiers and operators by Savills India, as part of the study, indicated few aspects that are likely to alter the co-working offerings in the near future. About 60% of occupiers believe that the Work-From-Anywhere (WFA) trend is likely to stay in the near to medium term. Hence, organisations are likely to switch to a hub and spoke model. As per the survey, 61% of occupiers seek shorter lock-in period and rent assessment cycles as businesses have become highly dynamic.Around 30% of the developers surveyed strongly agreed that technology is going to shape the future of workspace. With 93% employees wanting a commute time of less than an hour, developers foresee a high demand concentration in the suburban and peripheral areas of cities. Apart from rental reassessments with occupiers, 79% of the developers recognize that they are expected to meticulously and rigorously analyse force majeure clauses among other aspects.

Bengaluru: The Karnataka Employers’ Association has written to the state government asking it to take stern action against employees who have resorted to protests outside the Toyota Kirloskar Motor (TKM) manufacturing facility at Bidadi, 40 km off Bengaluru.In a letter to chief secretary TM Vijay Bhaskar, association president BC Prabhakar has expressed concerns over the possibility of the strike spreading to other industries as well. “We request you to take immediate steps to declare curfew around the premises of TKM, Bidadi, and take stringent action including arrest of troublemakers and also bar them from entering the Bidadi area,” the letter said.Unless timely steps are taken, there is a possibility of such employee unfair practices spreading to other industries. This will permanently damage the investment climate in Karnataka, the association stated as the protests at the facility has entered the third week.While the company has declared a lockout for the second time, some employees have continued with the protest. Their demand is to withdraw the suspension of 40 employees and to address some employee grievances. The management, however, said that it will allow the employees to work if they give an undertaking that they will not to indulge in anti-company activities and meet the production target.Prabhakar said the strike and the lockout were sending a wrong signal to investors especially when several companies are seeing Bengaluru as a possible destination in the backdrop of anti-China sentiments. Karnataka has introduced several industry-friendly policies and laws recently. All of these will be futile if the strike at Toyota continues, he told ET.In the letter, KEA has accused the president of TKM Employees Union of mobilising 500-600 workmen daily and making derogatory speeches. “It is noticed that the president is urging other factory workers to support the illegal agitation and this will totally vitiate the industrial relations in the entire area,” the letter said.

As uncertainty over the performances of actively managed equity schemes lingers, there is merit in allocating a portion of your portfolio to low-cost passive equity products, like index funds and ETFs. These funds mimic the returns of the indices. Usually the number of gaining stocks shrink when markets are at all-time highs.Financial advisors say funds actively managed by managers tend to struggle in such times.In the past two years, various fund houses have introduced index funds and ETFs that bet on various indices and asset classes. ET takes a look at four equity index funds recommended by financial advisors. Tata Index NiftyExpense Ration: 0.05 per cent (Direct plan)Assets Under Management: Rs 70 croresTop 5 holdings: Reliance Industries, HDFC Bank, Infosys, HDFC, TCSA plain vanilla Nifty index fund, with the lowest expense ratio. Financial planners feel this is one of the best starting point for investors beginning their equity journey. It works well for someone wanting market exposure at relatively cheaper cost and looking to eliminate fund manager bias. Investors with a time horizon of 5 years and above can use the SIP route for exposure to this fund. The fund scores by virtue of having the lowest expense ratio in the Nifty 50 universe of funds.DSP Nifty Next 50 FundExpense Ratio: 0.29 per cent (Direct plan)Assets Under Management: Rs 69 croreTop 5 stocks: Adani Green, Avenue Supermarts, Tata Consumer, Dabur India, ICICI LombardMany financial planners believe the Nifty Next 50 can help diversify portfolios and help increase returns. They believe this index is less concentrated and has a lower weight to financials. The top 10 stocks of Nifty Next 50 comprise 35.69 per cent of the index as compared to 62.73 per cent in the Nifty 50 portfolio. The Nifty Next 50 is low on financials which account for 17 per cent with higher representation of sectors across healthcare, FMCG, services, chemicals and engineeringMotilal Oswal Midcap Nifty 150Expense Ratio: 0.38 per cent (Direct plan)Assets Under Management: Rs 70 croreTop 5 stocks: Apollo Hospitals, PI Industries, Zee Entertainment, Jubilant Foodworks, VoltasGiven the run up in frontline stocks, financial planners believe investors could take some profits there and reallocate to midcap funds. As the economy revives and growth catches pace, midcaps have the potential to give higher returns than large-cap stocks. Since liquidity is low, there are very few choices and little track record of passive funds in the midcap space.Motilal Oswal S&P 500 Index FundExpense Ratio: 0.49 per centAssets Under Management: Rs 530 croreTop 5 holdings: Apple Inc, Microsoft, Amazon, Facebook, Alphabet Inc Class AFinancial planners believe investors should allocate 10-15 per cent of their equity portfolios to international funds. The S&P 500 Index accounts for 82 per cent of the US market capitalisation, and is a good proxy for international diversification of portfolios. The set of companies in the portfolio has 40 per cent of revenue coming from overseas. It is a diversified index with the tech sector accounting for one fourth of the index, with financials coming in next at 11.7 per cent.

ET Intelligence Group: Stocks of city gas distribution (CGD) companies could be accorded a premium price-earnings multiple compared to their average since the downstream gas regulator’s fresh rules to allow new players would not translate into heightened competition as initially feared by investors. CGD companies such as Indraprastha Gas and Mahanagar Gas saw their stocks rise 10-14 per cent last Friday after the Petroleum and Natural Regulatory Board (PNGRB) announced its policy on open access — a rule for the usage of gas infrastructure facility of incumbent players by a new entrant — which removed the overhang on stocks for the past one-and-a-half years.Under the new policy, third party open access has been allowed for new CNG stations after the date of notification while the existing facilities operated by dealers and franchisees of authorised CGD companies (including oil marketing companies) have been kept out of its ambit. It even bars OMCs from putting up their own dispenser units in their existing network which has already been let out to a CGD operator. The new policy suggests that the regulator intends to increase penetration of CNG stations by creating additional infrastructure rather than by fostering higher competition among incumbent players.After the release of the draft open-access code, investors expect CGD companies to keep one-fifth of their existing capacity for third-party shippers and that the current arrangement of OMCs’ outlets retailing CNG could be at risk. This has elevated the risk to the sustainability of volumes and operating profit per standard cubic metre, which is the cornerstone of any CGD player’s earnings growth.The new rules suggest that CGD companies would not be able to use the outlets of OMCs, which they have extensively used to retail CNG, on their own after the new policy comes under force. As per the new rules, 60-70 per cent of the total CNG volume of the CGD companies should be sold through the retail stations owned by OMCs. Therefore, if the existing CNG station remains out of the purview of open access, the bargaining power of CGD companies for negotiating trade discounts will increase. It must be noted that before the new policy announcement, the OMCs sought a steep hike of 90-100 per cent for the trade discount. The biggest beneficiaries of the new rules will be IGL and MGL, for whom CNG constitutes 73 per cent of total volumes.With the existing relationship of the oil marketing companies’ outlets for CNG retailing likely to continue for last-mile connectivity, the fear of margin erosion after open access remains unfounded. 79480712As a result, the recent margins of IGL and MGL are likely to sustain which were overlooked by investors despite a record level because of fear of margins erosion after the open access. The removal of margins erosion overhang and probability of volume slippage in the current network from new competition could result in an earnings upgrade of 8-10 per cent for the current and next financial year.The end of regulatory risk for the CGD companies could end the cycle of derating for the past two years. IGL and MGL are trading at 26 and 11 times of their one-year forward earnings respectively.

By Niall FergusonIn “Shuggie Bain,” Douglas Stuart’s award-winning and harrowing depiction of alcoholism, sectarianism and deprivation in post-industrial Scotland, money is always scarce and often dirty. Deserted by her second husband and unable to hold down a job, Shuggie’s mother, Agnes, relies on her twice-a-week child benefit to feed her children — or her booze habit. As the latter nearly always wins, she and Shuggie are regularly reduced to desperate expedients to fend off starvation: Extracting coins from electricity and television meters, pawning their few valuable possessions, and ultimately selling their bodies for brutal sexual favors. Stuart vividly captures the miseries of a Glasgow of greasy coins and filthy banknotes. After one of many wretched copulations in the back of a taxi, one of Agnes’s lovers inadvertently showers her with coins from his pocket. Shuggie’s father briefly reappears at one point, handing his son two 20-pence pieces from his taxi’s change dispenser by way of a gift, grudgingly adding four 50-pence pieces when the boy looks nonplused. (“Don’t ask for mair!”) The “rag-and-bone man,” who goes from house to house buying old clothes and junk, pays “with a roll of grubby pound notes” bound by an old Band-Aid. The image is especially startling because banknotes have so rarely featured in the narrative. The only credit in this world is from rent-to-own catalogues, the Provident doorstep lender, and a few hard-pressed shopkeepers.I grew up in middle-class, mostly sober Glasgow, but I still remember the tyranny of those damned coins: the nightmare of having too few for a bus fare or the wrong sort for a phone box. To my children, all this is as much a part of ancient lore as pirate chests of doubloons once were to me. Coins are fast fading from their lives, soon to be followed by banknotes. In some parts of the world — not only China but also Sweden — nearly all payments are now electronic. In the U.S., debit card transactions have exceeded cash transactions since 2017. Even in Latin America and parts of Africa, cash is yielding to cards and a growing number of people manage their money through their phones.We are living through a monetary revolution so multifaceted that few of us comprehend its full extent. The technological transformation of the internet is driving this revolution. The pandemic of 2020 has accelerated it. To illustrate the extent of our confusion, consider the divergent performance of three forms of money this year: the U.S. dollar, gold and Bitcoin.The dollar is the world’s favorite money, not only dominant in central bank reserves but in international transactions. It is a fiat currency, its supply determined by the Federal Reserve and U.S. banks. We can compute its value relative to the goods consumers buy, according to which measure it has scarcely depreciated this year (inflation is running at 1.2 per cent), or relative to other fiat currencies. On the latter basis, according to Bloomberg’s dollar spot index, it is down 4 per cent since Jan. 1. Gold, by contrast, is up 15 per cent in dollar terms. But the dollar price of a bitcoin has risen 139 per cent year-to-date.79485927This year’s Bitcoin rally has caught many smart people by surprise. Last week’s high was just below the peak of the last rally ($19,892 according to the exchange Coinbase) in December 2017. When Bitcoin subsequently sold off, the New York University economist Nouriel Roubini didn’t hold back. Bitcoin, he told CNBC in February 2018, had been the “biggest bubble in human history.” Its price would now “crash to zero.” Eight months later, Roubini returned to the fray in congressional testimony, denouncing Bitcoin as the “mother of all scams.” In tweets, he referred to it as “Shitcoin.”Fast forward to November 2020, and Roubini has been forced to change his tune. Bitcoin, he conceded in an interview with Yahoo Finance, was “maybe a partial store of value, because … it cannot be so easily debased because there is at least an algorithm that decides how much the supply of bitcoin raises over time.” If I were as fond of hyperbole as he is, I would call this the biggest conversion since St. Paul.Roubini is not the only one who has been forced to reassess Bitcoin this year. Among the big-name investors who have turned bullish are Paul Tudor Jones, Stan Druckenmiller and Bill Miller. Even Ray Dalio admitted the other day that he “might be missing something” about Bitcoin.Financial journalists, too, are capitulating: On Tuesday, the Financial Times’s Izabella Kaminska, a long-time cryptocurrency skeptic, conceded that Bitcoin had a valid use-case as a hedge against a dystopian future “in which the world slips towards authoritarianism and civil liberties cannot be taken for granted.” She is on to something there, as we shall see.So what is going on?First, we should not be surprised that a pandemic has quickened the pace of monetary evolution. In the wake of the Black Death, as the historian Mark Bailey noted in his masterful 2019 Oxford Ford lectures, there was an increased monetization of the English economy. Prior to the ravages of bubonic plague, the feudal system had bound peasants to the land and required them to pay rent in kind, handing over a share of all produce to their lord. With chronic labor shortages came a shift toward fixed, yearly tenant rents paid in cash. In Italy, too, the economy after the 1340s became more monetized: It was no accident that the most powerful Italian family of the 15th and 16th centuries were the Medici, who made their fortune as Florentine moneychangers.In a similar way, Covid-19 has been good for Bitcoin and for cryptocurrency generally. First, the pandemic accelerated our advance into a more digital word: What might have taken 10 years has been achieved in 10 months. People who had never before risked an online transaction were forced to try, for the simple reason that banks were closed. Second, and as a result, the pandemic significantly increased our exposure to financial surveillance as well as financial fraud. Both these trends have been good for Bitcoin.I never subscribed to the thesis that Bitcoin would go to zero after it plunged in price in late 2017 and 2018. In the updated 2018 edition of my book, “The Ascent of Money” — the first edition of which appeared more or less simultaneously with the foundational Bitcoin paper by the pseudonymous Satoshi Nakamoto — I argued that Bitcoin had established itself as “a new store of value and investment asset — a type of ‘digital gold’ that provides investors with guaranteed scarcity and high mobility, as well as low correlation with other asset classes.”“Satoshi’s goal,” I argued, “was not to create a new money but rather to create the ultimate safe asset, capable of protecting wealth from confiscation in jurisdictions with poor investor protection as well as from the near-universal scourge of currency depreciation … Bitcoin is portable, liquid, anonymous and scarce … A simple thought experiment would imply that $6,000 is therefore a cheap price for this new store of value.”Two years ago, I estimated that around 17 million bitcoins had been mined. The number of millionaires in the world, according to Credit Suisse, was then 36 million, with total wealth of $128.7 trillion. “If millionaires collectively decided to hold just 1 per cent of their wealth as Bitcoin,” I argued, “the price would be above $75,000 — higher, if adjustment is made for all the bitcoins that have been lost or hoarded. Even if the millionaires held just 0.2 per cent of their assets as Bitcoin, the price would be around $15,000.” We passed $15,000 on Nov. 8.What is happening is that Bitcoin is gradually being adopted not so much as means of payment but as a store of value. Not only high-net-worth individuals but also tech companies are investing. In July, Michael Saylor, the billionaire founder of MicroStrategy, directed his company to hold part of its cash reserves in alternative assets. By September, MicroStrategy’s corporate treasury had purchased bitcoins worth $425 million. Square, the San Francisco-based payments company, bought bitcoins worth $50 million last month. PayPal just announced that American users can buy, hold and sell bitcoins in their PayPal wallets.This process of adoption has much further to run. In the words of Wences Casares, the Argentine-born tech investor who is one of Bitcoin’s most ardent advocates, “After 10 years of working well without interruption, with close to 100 million holders, adding more than 1 million new holders per month and moving more than $1 billion per day worldwide,” it has a 50 per cent chance of hitting a price of $1 million per bitcoin in five to seven years’ time.Whoever he is or was, Satoshi summed up how Bitcoin works: It is “a purely peer-to-peer version of electronic cash” that allows “online payments to be sent directly from one party to another without going through a financial institution.” In essence, Bitcoin is a public ledger shared by a network of computers. To pay with bitcoins, you send a signed message transferring ownership to a receiver’s public key. Transactions are grouped together and added to the ledger in blocks, and every node in the network has an entire copy of this blockchain at all times. A node can add a block to the chain (and receive a bitcoin reward) only by solving a cryptographic puzzle chosen by the Bitcoin protocol, which consumes processing power.Nodes that have solved the cryptographic puzzle — “miners,” in Bitspeak — are rewarded not only with transaction fees (5 bitcoins per day, on average), but also with additional bitcoins — 900 new bitcoins per day. This reward will get cut in half every four years until the total number of bitcoins reaches 21 million, after which no new bitcoins will be created.There are three obvious defects to Bitcoin. As a means of payment, it is slow. The Bitcoin blockchain can process only around 3,000 transactions every 10 minutes. Transaction costs are not trivial: Coinbase will charge a 1.49 per cent commission if you want to buy one bitcoin.There is also a significant negative externality: Bitcoin’s “proof-of-work” consensus algorithm requires specialized computer chips that consume a great deal of energy — 60 terawatt-hours of electricity a year, just under half the annual electricity consumption of Argentina. Aside from the environmental costs, one unforeseen consequence has been the increasing concentration of Bitcoin mining in a relatively few hands — many of them Chinese — wherever there is cheap energy.But these disadvantages are outweighed by two unique features. First, as we have seen, Bitcoin offers built-in scarcity in a virtual world characterized by boundless abundance. Second, Bitcoin is sovereign. In the words of Casares, “No one can change a transaction in the Bitcoin blockchain and no one can keep the Bitcoin blockchain from accepting new transactions.” Bitcoin users can pay without going through intermediaries such as banks. They can transact without needing governments to enforce settlement.79485935The advantages of scarcity are obvious at a time when the supply of fiat money is exploding. Take M2, a measure of money that includes cash, bank accounts (including savings deposits) and money market mutual funds. Since May, U.S. M2 has been growing at a year-on-year rate above 20 per cent, compared with an average of 5.9 per cent since 1982. The future weakness of the dollar has been a favorite 2020 talking point for Wall Street economists such as Steve Roach. You can see why. There really are a lot of dollars around, even if their velocity of circulation has slumped because of the pandemic.The advantages of sovereignty are less obvious but may be more important. Bitcoin is not the only form of digital money that has flourished in 2020. China has been advancing rapidly in two different ways.Nowhere in the world are mobile payments happening on as large a scale as in China, thanks to the spectacular growth of Alipay and WeChat Pay. Those electronic payment platforms now handle close to $40 trillion of transactions a year, more than double the volume of Visa and Mastercard combined, according to calculations by Ribbit Capital. The Chinese platforms are expanding rapidly abroad, partly through investments in local fintech companies by Ant Group and Tencent.At the same time, the People’s Bank of China has accelerated the rollout of its digital currency. The potential for a digital yuan to be adopted for remittance payments or cross-border trade settlements is substantial, especially if — as seems likely — countries participating in the One Belt One Road program are encouraged to use it. Even governments that are resisting Chinese financial penetration, such as India, are essentially building their own versions of China’s electronic payments systems.Some economists, such as my friend Ken Rogoff, welcome the demise of cash because it will make the management of monetary policy easier and organized crime harder. But it will be a fundamentally different world when all our payments are recorded, centrally stored, and scrutinized by artificial intelligence — regardless of whether it is Amazon’s Jeff Bezos or China’s Xi Jinping who can access our data.In its early years, Bitcoin suffered reputational damage because it was adopted by criminals and used for illicit transactions. Such nefarious activity has not gone away, as a recent Justice Department report makes clear. Increasingly, however, Bitcoin has an appeal to respectable individuals and institutions who would like at least some part of their economic lives to be sheltered from the gaze of Big Brother.It is not (as the term “cryptocurrency” misleadingly implies) that Bitcoin is beyond the reach of the law or the taxman. When the Federal Bureau of Investigation busted the online illegal goods market Silk Road in 2013, it showed how readily government agencies can trace the counterparties in suspect Bitcoin transactions. This is precisely because the blockchain is an indelible record of all Bitcoin transactions, complete with senders’ and receivers’ bitcoin addresses.Moreover, the Internal Revenue Service is perfectly prepared to demand information on bitcoin accounts from exchanges, as Coinbase discovered in 2016. A rumor of new U.S. Treasury regulations requiring greater disclosures by exchanges caused a sharp crypto selloff over Thanksgiving. The point is simply that the financial data of law-abiding individuals is better protected by Bitcoin than by Alipay. As the Stanford political theorist Stephen Krasner pointed out more than 20 years ago, sovereignty is a relative concept.Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system — which, after all, was originally designed to be less centralized and more respectful of individual privacy than the systems of less-free societies.Life in the East End of Glasgow in the 1980s was nasty, brutish and short of money. But all those transactions in grubby pounds and pence — genuine shitcoins — were, if nothing else, private. If Agnes Bain bought Special Brew instead of oven chips, it was a matter for her, the shopkeeper, and her long-suffering kids; the state was none the wiser. That was scant consolation to poor Shuggie. But, as we have learned again this year, a free society comes at a price that is not always payable in cash.

Blount Memorial Hospital - Maryville, TN - Benefit opportunities for full-time employees include medical, dental, and vision insurance, bonus pay for evening and weekend shifts, employee discounts, PTO, sick time, retirement program, and much more! Minimum starting pay is $10.15/hour, more with related experience. JOB SUMMARY Cooks a variety of food according to department recipes. Responsible for managing safety, taste and cost of all prepared foods, while adjusting production levels to meet demand. Duties will be performed in at least one of the following disciplines: salad cook, bakery cook, or line cook. JOB SPECIFICATIONS Education and/or experience: High school diploma or equivalent required. 1-2 years of professional cooking (healthcare or otherwise) and ServSafe certification preferred. Knowledge: Knowledge of food preparation and food safety in a commercial setting is preferred. Knowledge of therapeutic diets preferred. Skills: Sanitary food handling skills are required. Good written and oral communication skills. Strong time management skills must be demonstrated upon hire. Abilities: Able to follow recipes, work within given production time frames, manage own time and independently work towards constantly improving quality standards.#rpm Work Type: Full Time (0.75 - 1.0) Work Hours: 5:00am - 1:30pm, 9:00am - 5:30pm recblid jfw65qad55awv8ob67iz20d7tzjm5z... - Permanent - Full-time

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Blount Memorial Hospital - Maryville, TN - Benefit opportunities for full-time employees include medical, dental, and vision insurance, bonus pay for evening and weekend shifts, employee discounts, PTO, sick time, retirement program, and much more! Minimum starting pay is $10.15/hour, more with related experience. JOB SUMMARY Responsible for prompt, accurate, and nutritious food service to patients and sanitary food handling. Will assemble meals as part of the trayline team, will deliver food carts to proper areas of hospital, will maintain knowledge about dietary restrictions for all major patient diet categories, Will also learn and assist with all Utility Tech responsibilities. JOB SPECIFICATIONS Education and/or experience: High school diploma or equivalent required. 1-3 years of food service (healthcare or otherwise) preferred, or equivalent time in task oriented and time sensitive experiences. Knowledge: Working knowledge of proper food handling methods and personal hygiene. Able to demonstrate prior knowledge of standard healthcare dietary categories and restrictions, or complete and demonstrate competency in BMH Dietary Manual within 1 month of hire. Skills: Sanitary food handling skills are required. Good written and oral communication skills, and strong time management skills must be demonstrated upon hire. Abilities: Ability to learn and remember special and modified diets for patients. Ability to work well with others. Ability to work well independently and also work efficiently as part of a team is required. #rpm Work Type: Full Time (0.75 - 1.0) Work Hours: 6:00 am-2:30 pm recblid 7qfutkmdpv2omd2vt4n61mo8e0d1p3... - Permanent - Full-time

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State of CT Judicial Branch - East Hartford, CT - State of Connecticut Judicial Branch East Hartford Information Technology Analyst II The State of Connecticut Judicial Branch is seeking an Information Technology Analyst II responsible for software development and support of applications primarily for the Office of Victim Services. The successful candidate must be able to work with business customers to analyze the requirements, develop, support and enhance the web components to satisfy them, and maintain the legacy VB6 system while this is in progress. The candidate will be responsible for analysis, design, coding, testing, code migration, performance testing and maintenance of web sites using .Net and the Microsoft MVC framework. Develop database data access layer objects using SQL Server stored procedures to interact with SQL Server 2012/2016 databases. The qualified candidate will have the developer skills required including but not limited to proficiency in Visual Studio 2015 and above, TFS, MVC Razor, J-Query and Bootstrap, HTML5 and CSS, including responsive design principles. Proficiency with SQL Server including the ability to write and debug stored procedures, create and modify table structures and relationships as well as normalize data is required. Knowledge of SQL Server Reporting Services (SSRS) would be a plus. Qualified candidates must be proficient with: Visual Studio/TFS SQL Server 2012/2016 databases Web UI design principles Proficiency with .Net includes the ability to: Create, modify and debug applications using the MVC Framework Modify and debug applications using Web Forms Use Entity Framework Proficiency with SQL Server including the ability to: Create, Modify and Debug Stored Procedures Create and Modify Table Structures and Relationships Additional skills would be a plus: Unit test creation (test driven development) and responsive design principles The successful candidate must have excellent interpersonal and communication skills, both oral and written, as well as the ability to work effectively with all levels of technical and non-technical staff and management. Strong organization and documentation skills are required with an attitude to learn and grow with the position. The candidate must be able to work independently with supervisory guidance. The preferred candidate will possess the following experience in the specific functional area of Software Development: Analyzes, designs, codes and tests moderately complex software applications, data and reports including business intelligence reports; configures and installs application packages; writes technical program specifications and technical systems specifications; troubleshoots and supports production issues; entry level task coordination in support of project management. Starting salary $83,403 - plus State of Connecticut benefits. EXPERIENCE AND TRAINING General Experience: Six (6) years of experience in information technology (IT), programming, systems/software development or another IT related field with a concentration in the specific area of the position being applied for. Special Experience: One (1) year of the General Experience must have been at the Information Technology Analyst I level or its equivalent. Substitutions Allowed: 1) College training in management information systems, computer science, electrical engineering or related area may be substituted for the General Experience on the basis of fifteen (15) semester hours equaling six (6) months of experience to a maximum of four (4) years for a Bachelor’s degree. 2) A Master’s degree in management information systems, computer science, electrical engineering or related area may be substituted for one (1) additional year of the General Experience. 3) Relevant certification in management information systems, computer science, electrical engineering, project management or related area may be substituted for up to six (6) months of the general experience. Special Requirement: Incumbents may be required to travel within the State in the course of their daily work. Applications must be received by December 14, 2020. Paper applications will not be accepted. Please reference posting number #20-4000-022 AA/EOE recblid dp1z2ktwp6nbxdhn8apbmvkijedc2q... - Permanent - Full-time

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GlobalFoundries - Durham, NC - Summary_Of_Role GlobalFoundries seeks a Physical Design Engineer for the new Design Center in Raleigh, NC. The candidate for this role will have proven experience through practical and theoretical work of physical design of complex analog/RF designs. From Chip level to transistor level. In this role, you will provide leadership/ support for the physical design from transistor level to top chip level consisting of a mix of analog/MS/Digital/RF-MM_Wave sub blocks. Essential_Responsibilities * Own the top level chip layout from definition to Tape Out. * Active participation in floor planning and layout/routing study. * Design of various analog/MS bloc * Be the key layout person in the team * Assistance and guidance of rest of team on best practices for physical design * Participation and Presentation of design and related material at technical (Design review) and business group level * Collaboration with various internal groups as part of overall project * Presentation of technical material to customers. * Active participation at internal and external forums through publications. * Perform all activities in a safe and responsible manner and support all Environmental, Health, Safety & Security requirements and programs. Required_Qualifications * Bachelor s Degree from an Accredited College and or University in Electrical Engineering or Related Discipline * 2 or More Years of Relevant Experience * Minimal Travel Required * Language Fluency: English (Written & Verbal) * Preferred_Qualifications * Master s Degree from an Accredited College and or University in Electrical Engineering or Related Discipline with 1-3 years of experience * PhD from an Accredited College and or University in Electrical Engineering or Related Discipline with 0-1 years of experience * Experience working in a Matrix Environment * Ability to communicate with all levels of the organizational structure * If you need a reasonable accommodation for any part of the employment process, please contact us by email at and let us know the nature of your request and your contact information. Requests for accommodation will be considered on a case-by-case basis. Please note that only inquiries concerning a request for reasonable accommodation will be responded to from this email address. An offer of employment with GLOBALFOUNDRIES is conditioned upon the successful completion of a background check and drug screen, as applicable and subject to applicable laws and regulations. GLOBALFOUNDRIES is fully committed to equal opportunity in the workplace and believes that cultural diversity within the company enhances its business potential. GLOBALFOUNDRIES goal of excellence in business necessitates the attraction and retention of highly qualified people. Artificial barriers and stereotypic biases detract from this objective and may be illegally discriminatory. Procedure: All policies and processes which pertain to employees including recruitment, selection, training, utilization, promotion, compensation, benefits, extracurricular programs, and termination are created and implemented without regard to age, ethnicity, ancestry, color, marital status, medical condition, mental or physical disability, national origin, race, religion, political and/or third-party affiliation, sex, sexual orientation, gender identity or expression, veteran status, or any other characteristic or category specified by local, state or federal law. Show moreShow less... - Permanent - Full-time

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Fortinet - Sunnyvale, CA - Job_Description WiFi team is looking for an Embedded Software Engineer with C programming and networking knowledge to join our team. This is a great opportunity to immerse yourself in all phases of the software development cycle to reach new product launches and feature development for our Enterprise Wireless solutions. This position offers a large scope of experience and direct involvement with complex and innovative technology. In addition, you will be working alongside a close- knit team of experienced software developers. Job_Responsibilities * Develop Enterprise Wireless products and features * Linux kernel/driver development for WIFI product * Linux user space applications implementation Job_Requirements * Highly motivated, positive, detail oriented and responsible * Good team player and good communication skills * Proficient C programming skill * Fast learner. * Basic networking protocols and system design knowledge * Passion and talent on Linux Kernel and application development * 802.11, 802.1x and Enterprise Wireless solution experience is plus Education_Requirement * Bachelor s Degree in Computer Science or Electrical Engineering is required * Master s Degree is preferred #GD About_Us Fortinet (NASDAQ: FTNT) secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with intelligent, seamless protection across the expanding attack surface and the power to take on ever-increasing performance requirements of the borderless network - today and into the future. Only the Fortinet Security Fabric architecture can deliver security features without compromise to address the most critical security challenges, whether in networked, application, cloud or mobile environments. Fortinet ranks number one in the most security appliances shipped worldwide and more than 450,000 customers trust Fortinet to protect their businesses. Show moreShow less... - Permanent - Full-time

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Amazon - Saint Francis, WI - SHIFTS: Overnight, Early Morning, Day, Evening, Weekend Locations: Oak Creek, WI MILWAUKEE, WI Wauwatosa, WI Sussex, WI Job opportunities vary by location. We update postings daily with open positions. HOURLY PAY RATE:Earn $15/hr or more IMMEDIATE OPENINGS AVAILABLE NOW. START AS SOON AS 7 DAYS. NO RESUME OR PREVIOUS WORK EXPERIENCE REQUIRED. Become part of the dedicated team that gets orders ready for people relying on Amazon's service. From flexible part-time roles to full-time set schedules with health care benefits, Amazon has a variety of jobs. Amazon remains open as an essential business to serve our communities delivering critical supplies directly to the doorsteps of people who need them. Find out what Amazon is doing to provide a safe environment for employees at this time on ourCOVID-19 FAQ page [ Candidates must be 18 years or older with ability to read and speak English for safety. REASONS YOU'LL LOVE WORKING HERE: Health and safety are a top priority with all of our roles and sites. We continue to consult with medical and health experts, and take all recommended precautions in our buildings and stores to keep people healthy. EARN MORE:You can expect a competitive wage and reliable paycheck when you work for Amazon. CAREER DEVELOPMENT:Many of our entry-level employees become leaders in operations, HR, and other areas. See where your Amazon journey can take you. BENEFITS:Our range of benefits can include health care starting on day one, employee discounts, 401(k) savings plans, paid time off and more! Find out which benefits you'll get after you choose your role with us. STAY ACTIVE:You'll be on the move for your whole shift in our fast-paced environments. CHECK OUT WHAT SOME OF OUR EMPLOYEES HAVE TO SAY ABOUT THEIR JOBS: AMAZON IS HIRING FOR THE FOLLOWING TYPES OF ROLES IN YOUR AREA: WHOLE FOODS SHOPPERS (AMAZON PRIME NOW) - Amazon now offers PrimeNow members the benefits of Whole Foods grocery shopping and delivery to their door in record time. We are hiring shopping associates to assist with this experience, and flexible schedules hours and that fit your life. As a PrimeNow Shopper at Whole Foods, you will work in a Whole Foods setting - filling PrimeNow customer orders and preparing them for delivery. Items for delivery include a large variety of everyday needs including food, household items, and so much more. FULFILLMENT CENTERS Work inside an Amazon warehouse, selecting, packing and shipping customer orders. If you like a fast-paced, physical position that gets you up and moving, then come help bring orders to life. Work a set, full-time schedule. Shift options include overnight and days, and usually at least one weekend day. AMAZON FRESH WAREHOUSES (2 Hour or Less Delivery) Become a part of Amazon's super-fast (2 hours or less) delivery service. We offer fresh, frozen, and packaged groceries, so you'll work in varying climates from room temperature to freezer environments. We will provide you with the right gear to stay warm during the colder parts of your shift. If you need flexibility in your schedule, this job allows you to choose from available shifts each week to create your own.* Flexible hours, a reliable pay rate, and no surprises!*Full-time and part-time roles with set schedules may also be available. DELIVERY STATIONS Amazon's delivery stations are the final stop before an order heads out for delivery to the customer's door. In this active job you sort packages into delivery routes. To ensure we meet customer-promised delivery times, shift times will vary. Depending on your location, you'll work a set schedule with hours that range between full-time and part-time. BASIC QUALIFICATIONS: High school, GED, or equivalent diploma Amazon is committed to a diverse and inclusive workplace. Amazon is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation, please Logistics, Keywords: Warehouse Worker... - Temporary - Full-time

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