What is it? Number of state-run liquor (Indian-made foreign liquor) shops to be shut in Tamil Nadu, as announced by Edappadi K. Palaniswami.
Why is it important? This is the new chief minister’s first major announcement and one of the first five orders he signed. It is being seen as taking forward the late party-supremo, J Jayalalithaa’s aim to levy prohibition in a phased manner. There are five states/union territories which already have partially or fully banned alcohol sale and consumption.
Tell me more: It follows its neighbouring state, Kerala, in its partial ban on state-run liquor outlets..
Rs 14.5 crore
What is it? The money Rising Pune Supergiants will be paying English cricketing all-rounder Ben Stokes.
Why is it important? This is the highest bid ($2.17 million) for a player in this year’s Indian Premier League auctions. The relatively new team beat a host of other teams in a bidding frenzy to net the player. This makes Stokes the most expensive overseas player in all of IPL’s editions, notching up a fee seven times his base (Rs 2 crore).
Tell me more: The scramble to land Stokes was despite the all-rounder’s limited availability owing to England hosting South Africa during the later part of this year’s tournament.
Rs 16,000 crore
What is it? The total value of shares Tata Consultancy Services (TCS), India’s largest IT services company, will be buying back after receiving approval from its board on Monday.
Why is it important? The value would be 2.85% of TCS’s paid-up equity capital and take out 56.1 million shares from the market. Despite sitting on cash reserves, the Indian software services leaders such as TCS, Infosys, Cognizant have had low return on equity for shareholders, drawing flak. While Cognizant has already decided to increase shareholders’ payouts, Infosys might also buy back some of its shares.
Tell me more: With less number of shares in the market, this could also give a boost to TCS’ earnings per share as seen with Accenture earlier.
What is it? The price of a Spectacle a video-recording sunglass from Snap that runs social messaging app Snapchat
Why is it important? It has just started selling the sunglasses online in the US, ahead of its IPO (initial public offering) valued between $19.5 billion to $22 billion. The camera embedded sunglasses connect to smartphones over bluetooth or wifi. If they sell well, Snap could convince investors that the company could well succeed as a social network plus hardware firm.
Tell me more: Since its launch last year, Snap has been selling spectacles in surprise locations through vending machines and through a pop-up store in New York. The scarcity upped its demand, and on ebay, the video-recording sunglasses were being priced at $5000 a piece.
What is it? The number of banks deploying BharatQR code at present. More banks are expected to join.
Why is it important? Unlike other QR code based systems which are closed, BharatQR code will work across banks, and could change the retail digital payments across the country. QR code system (which masks the details under a machine readable optical label) is comparatively more secure for customers, and cheaper for merchants because they need not invest in point of sale terminals and pay the relatively higher merchant discount rates for such devices.
Tell me more: BharatQR was jointly developed by four major card payment companies—National Payments Corp. of India, MasterCard, Visa and American Express. Interestingly, Paytm said it would invest
Rs 600 crore in its own QR based payments solution.