Go Digit share price

 

Go Digit listing: Virat Kohli, Anushka Sharma's Rs 2.5-cr investment turns into Rs 10 cr

With Go Digit share price exceeding Rs 300, Virat Kohli's Rs 2 crore investment has surged to Rs 8 crore, and Anushka Sharma’s investment has appreciated to Rs 2 crore.

Go Digit listing: Virat Kohli, Anushka Sharma's Rs 2.5-cr investment turns into Rs 10cr

Go Digit General Insurance's stock market debut on May 23 has delivered multi-bagger returns for celebrity couple Virat Kohli and Anushka Sharma, who invested in the insurer in February 2020.

With the company's share price crossing the Rs 300 mark, the couple's investment has grown four-fold while they continue to hold their shares in the company.

Ace cricketer Virat Kohli purchased 266,667 equity shares in Go Digit at Rs 75 each, totalling an investment of Rs 2 crore, according to the insurance company's red herring prospectus (RHP). Actor Anushka Sharma acquired 66,667 shares for Rs 50 lakh, bringing the couple’s combined investment to Rs 2.5 crore.

With the share price exceeding Rs 300, Virat Kohli's Rs 2 crore investment has surged to Rs 8 crore, and Anushka Sharma’s investment has appreciated to Rs 2 crore. Combined, their shares are now worth Rs 10 crore.

The Prem Watsa-backed insurance company's public issue comprised a fresh issue of shares worth Rs 1,125 crore and an offer-for-sale (OFS) of up to 5.48 crore shares, aggregating Rs 1,489.65 crore by its promoters and existing shareholders.

Incorporated in December 2016, Go Digit offers a diverse range of insurance products, including health, travel, and property insurance. The company has launched a total of 74 active products across all its business lines.

A day before its issue opened on May 14, the insurance company, backed by Fairfax, secured approximately Rs 1,176 crore from anchor investors. These investors included Fidelity, the Abu Dhabi Investment Authority (ADIA), and hedge fund Bay Pond Partners. The company allocated 4.32 crore equity shares to 56 funds for Rs 272 each, the upper price band.

This isn't the first instance of sports stars or celebrities investing in companies that later went public. In December 2023, Sachin Tendulkar-backed Azad Engineering debuted on the bourses. The cricket icon’s investment in the company increased six-fold following the stock's stellar listing. Tendulkar acquired 4.3 lakh shares at Rs 114.10 each in March 2023, and the stock listed on December 28 at Rs 720.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of fundfortress.com blog. We advise investors to check with certified experts before making any investment decisions.

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apple india

 

Why Apple is betting big on India

Apple has recently made an aggressive play to expand operations on both the manufacturing and sales front in India.

The U.S. tech giant opened its first physical stores in the country last year and India is growing into one of the company’s largest markets.

Meanwhile, Apple now reportedly makes around 1 in 7, or 14%, of its iPhones in India, highlighting how it is boosting its manufacturing in the country.

“There are a lot of people coming into the middle class, and I really feel that India is at a tipping point, and it’s great to be there,” Apple CEO Tim Cook said in May last year.

His comments underscore one reason Apple has recently made an aggressive play to expand operations in India: the country has a huge population, with a growing middle class willing to splash out more on high-end phones.

But it’s not just about sales for Apple. The tech giant has also boosted its manufacturing footprint in India, via Foxconn, the Taiwanese firm that assembles iPhones. Apple now makes around 1 in 7, or 14%, of its iPhones in India, according to a Bloomberg report this month.

Last year, an Indian government minister said Apple was looking to eventually manufacture 25% of all of its iPhones in India.

It’s led many investors to wonder whether India can become the next China for Apple.

Tom Chitty and I discuss why Apple is pursuing the Indian market — and if it can live up to its promise.

Apart from a great year in terms of revenue, Apple also witnessed a dramatic rise in iPhone exports from India, which doubled to USD 12.1 billion in the fiscal year 2023-24 from USD 6.27 billion in the previous fiscal year, marking a significant increase of nearly 100%, research by trade intelligence service The Trade Vision said.

Apple is also focusing on its green push in the Indian markets as recently the company announced a collaboration with Mumbai-based solar energy solutions provider, CleanMax. The companies will come together to invest in six rooftop solar projects in India, which are expected to generate a combined output of 14.4 megawatts (MW), and will be used to power Apple's offices and stores.

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Mastering Cryptocurrency Basics: Your Ultimate Guide for Beginners

 Mastering Cryptocurrency Basics: Your Ultimate Guide for Beginners

Cryptocurrency comes under many names. You have probably read about some of the most popular types of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Cryptocurrencies are increasingly popular alternatives for online payments. Before converting real dollars, euros, pounds, or other traditional currencies into ₿ (the symbol for Bitcoin, the most popular cryptocurrency), you should understand what cryptocurrencies are, what the risks are in using cryptocurrencies, and how to protect your investment.

What is cryptocurrency? A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet. These wallets can be software that is a cloud-based service or is stored on your computer or on your mobile device. The wallets are the tool through which you store your encryption keys that confirm your identity and link to your cryptocurrency.

What are the risks of using cryptocurrency? Cryptocurrencies are still relatively new, and the market for these digital currencies is very volatile. Since cryptocurrencies don't need banks or any other third party to regulate them; they tend to be uninsured and are hard to convert into a form of tangible currency (such as US dollars or euros.) In addition, since cryptocurrencies are technology-based intangible assets, they can be hacked like any other intangible technology asset. Finally, since you store your cryptocurrencies in a digital wallet, if you lose your wallet (or access to it or to wallet backups), you have lost your entire cryptocurrency investment.

Follow this to protect your cryptocurrencies:

• Look before you leap! Before investing in a cryptocurrency, be sure you understand how it works, where it can be used, and how to exchange it. Read the webpages for the currency itself (such as Ethereum, Bitcoin or Litecoin) so that you fully understand how it works, and read independent articles on the cryptocurrencies you are considering as well.

• Use a trustworthy wallet. It is going to take some research on your part to choose the right wallet for your needs. If you choose to manage your cryptocurrency wallet with a local application on your computer or mobile device, then you will need to protect this wallet at a level consistent with your investment. Just like you wouldn't carry a million dollars around in a paper bag, don't choose an unknown or lesser-known wallet to protect your cryptocurrency. You want to make sure that you use a trustworthy wallet.

• Have a backup strategy. Think about what happens if your computer or mobile device (or wherever you store your wallet) is lost or stolen or if you don't otherwise have access to it. Without a backup strategy, you will have no way of getting your cryptocurrency back, and you could lose your investment.

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A COMPREHENSIVE GUIDE TO PERSONAL FINANCE AND INVESTING

A COMPREHENSIVE GUIDE TO PERSONAL FINANCE AND INVESTING 

Personal finance and investing are essential topics that play a crucial role in achieving financial security and long-term wealth. whether, you are just starting to manage your money or looking to grow your investment .

1. Setting financial goals : Before diving into investing , it's important to establish clear financial goals. These goals could include saving for retirement, building an emergency fund, paying off debt, or purchasing a home defining your objective provides a roadmap for your financial journey and helps your prioritize your efforts . 

2. Budgeting and savings : Create a budget is an integral part of personal finance . track your income and expenses to gain visibility into your spending habits . by categorizing expenses and identifying areas where you can cut back, you can allocate more funds towards saving and investment. aim to save a percentage of your income consistently to build a solid .

3. Debt management : Debt can hinder your financial progress, so it's important to manage it effectively. prioritize high-interest debts and consider strategies like the debt snowball or debt avalanche methods. additionally , avoid taking on unnecessary debt and strive to maintain a good credits score, as it can impact your ability to secure favorable interest rates in the future.

4.Retirement planning : Saving for retirement account option like employer - sponsored 401(K) plans or individual retirement accounts (IRAs) take a advantage of any employer matching contribution and consider consulting a financial advisor to optimize your retirement saving strategy .

5. Investment strategies : various investment strategies cater to different risk appetites and goals some common strategies include long-term buy-and-hold investing value investing, dollar- cost averaging, and index fund investment, understand your risk tolerance, time horizon, and investment objective to choose the strategy that aligns with your needs .

CONCLUSION : personal finance and investing are integral parts of achieving financial well-being. by setting clear goals, budgeting effectively, managing debt, building emergency funds and investing wisely, you can secure a stable financial future. remember, financial success is a journey and it required ongoing education .