Pankaj

[Pankaj @macho01]

@chiragbarjatya 7 to 8 lacs on tops for a good trip with activities and train journeys

[Rajdeep Sardesai @sardesairajdeep]

So @airvistara does it again: seats available in business on Bengaluru Delhi flight yet passengers seeking an upgrade based on vouchers/miles are told no seats available in business class. Not for the first time but almost every time same story. So much for the incentives offered in various adverts by airline and its partners and their loyalty programmes . As crew pleads helplessness, How does a passenger register any complaint against an airline that won’t even listen to customers ? #Vistara

[Deepak Shenoy @deepakshenoy]

Why is Jio financial services, JIOFIN at lower circuit every day? It's one of the pitfalls of having so much money in index funds - forced selling.

The largest Indian mutual fund scheme is the SBI Nifty 50 ETF. It has 160,000 cr. in assets. It tracks the NIFTY 50 Index. Also, if you just add the list of funds that track the Nifty 50, you will see over 270,000 crore in Indian mutual funds that track the Nifty.

In the Nifty is Reliance Industries at a weightage of about 10%. It used to be 11%, but then JIOFIN was demerged out of it, and effectively, 1% of the NIFTY is in JIOFIN.

Because Reliance was in the index, JIOFIN, as a demerger result, is also kept in the index. In a set of rules in March 2023, the NSE said this:
* when an index stock demerges, the demerged stock will be part of the index till it lists
* after it lists, it will still be there for three days after which it will be removed from the index
* if it hits circuits for the first two days, it remains in the index for another two days.

JIOFIN listed on Monday. It hit the lower circuit on Monday and Tuesday, so it will stay in the index till Friday. If it keeps hitting the lower circuit, it will remain in the index until a day when it doesn't hit the circuits and boom, the next day it's out.

Complex? That's because of the index funds. JIOFIN doesn't qualify to be in the index (not enough listed history etc) So it should be removed. But because Index Funds own all the stocks in the Nifty, they will also have JIOFIN through the demerger. Remember all shareholders of Reliance got an equal number of shares of JIOFIN.

You can't remove JIOFIN from the index. Because the funds can't sell JIOFIN. If you removed JIOFIN from the index, the weights of all stocks would change but because Index funds can't sell it, they would have the wrong weights and not be able to track the index properly.

So the rule explains things: when JIOFIN lists and there's some time to sell it (assuming no circuits) then JIOFIN is removed.

Why is JIOFIN falling? Because these index funds want to sell it - the minute it is out of the lower circuit, it's out of the index so they need to be out of it by then.

Basically, they don't care if JIOFIN is a good co. It's like hello, it's not in the index, so I sell boss, don't care about anything else. This is "forced selling".

Now how much is there? Consider that 270,000 cr. is in Indian index funds (apart from active mutual funds that hold Reliance - those funds don't have to sell and can hold it for longer)

1% of that is 2,700 crores. That's the quantity that will be forced to sell, roughly. At Rs. 224 per share, that is roughly 12 crore shares that index funds must sell.

The current sell quantities on the exchange (NSE) are around 14 crore shares. Only 42 lakh shares have actually traded. Until this selling is absorbed, we'll see these lower circuits. It doesn't matter how good or bad the company is.

Disclosure: we own it.

[TOI Mumbai @TOIMumbai]

#Mumbai | Runners and joggers protest outside the Shivaji Park police station after a woman, Rajalakshmi Krishnan, was killed by a speeding car while she was on her morning run near #Worli Dairy on Sunday.

[Pankaj @macho01]

@TrafficBOM Driving licenses mention “Walking is a Right & Driving is a Privilege” yet during construction of Coastal road, makeshift roads are made for cars but no footpaths for walking ?? Why is importance paid towards footpaths ??

[TOI Mumbai @TOIMumbai]

#Mumbai : Lady runner killed by drunk driver at Worli Sea Face early this morning.

[TOI Mumbai @TOIMumbai]

#Mumbai : Lady runner killed by drunk driver at Worli Sea Face early this morning.

[Pankaj @macho01]

Are forced to run on the narrow roads with buses and cars moving at high speeds. Can we jointly work at some solution to avoid such unfortunate mishaps. Hope we find a solution soon 🙏

[Pankaj @macho01]

@HNarwekar @rahulnarwekar @MNarwekar @mieknathshinde @Dev_Fadnavis @milinddeora I didn’t know her but hv crossed by her many a times whilst morning runs. Today it was her and tomm can be me or any other runner. There are no footpaths on Badhwar park stretch & other area and we

[TOI Mumbai @TOIMumbai]

CEO of technology firm killed after car hits her in Mumbai's Worli https://t.co/Lvl6hsscAH

[IndiaToday @IndiaToday]

"My idea of an India is where we don’t have a government telling us what to eat, who to sleep with, who to love, what to think and what to say," says Congress MP @ShashiTharoor.

#IndiaTodayConcalve #Conclave23

[Pankaj @macho01]

@IndiGo6E I am still waiting for your revert.

[Pankaj @macho01]

@IndiGo6E am flying 6E5253 Mum-Kol-Gaya 3rd March 2023 & the FFwd counter person didn’t return my Driving License. I informed the crew on Boarding but no1 did anything & doors were closed. How do I get my ID proof back?

[Pankaj @macho01]

@IndiGo6E I am flying on 6E5253 from Mumbai - Kolkatta & onward to Gaya on 03rd March 2023 & the Fast Forward checkin counter person hasnt returned my Driving License? Door of flight have closed, how do I get my Identity card back? Also how can I do my return journey without it.

[Nitasha Natu @nnatuTOI]

I'm glad you are safe @singhvarun . And I hope you are making a note of this video @MTPHereToHelp @MumbaiPolice

[Singh Varun @singhvarun]

Dear @MumbaiPolice I have been brought by a Police to Kurla for telling a police constable of @MTPHereToHelp to do his duty, I was almost knocked by the auto too the police officer sat in an auto. Didn’t help and took offence that I told him to help people get Auto

[मुंबई Matters™🇮🇳 @mumbaimatterz]

#Mumbai... Watch this...

Goondagiri in Khaki...

Inside a Auto...

[Excel Dictionary @exceldictionary]

3 things all Excel users should know: 🤯

[Andrew Lokenauth @FluentInFinance]

I've used Microsoft Excel for 20 years, and these 20 tips & functions will make you an expert and increase your productivity 100X📊

Don't ever use Excel again without knowing these 20 tips & functions:

[Taniyaa Sapna Bhatia @IamTaniyaBhatia]

1/2 Shocked and disappointed at Marriot Hotel London Maida Vale management; someone walked into my personal room and stole my bag with cash, cards, watches and jewellery during my recent stay as a part of Indian Women's Cricket team. @MarriottBonvoy @Marriott. So unsafe.

[Anand @anand_ingle89]

Yesterday in Mumbai, During the Movement of the VVIP Convoy, An Ambulance Was Asked to Wait So that Convoy Could Passby !
Video rcvd via WA
@RoadsOfMumbai @PotholeWarriors @mumbaimatterz @mumbaitraffic @Mumbaikhabar9 @sardesairajdeep #Mumbai

[Pankaj @macho01]

@IndiGo6E You mean not allowed as either Cabin or Carriage ?

[Pankaj @macho01]

@IndiGo6E are coconuts allowed as check-in or Cabin Baggage on domestic flights ?