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Month: March 2025

  • Investment of ₹696 crore by PB Fintech in PB Healthcare Services

    Investment of ₹696 crore by PB Fintech in PB Healthcare Services

    Policybazaar’s parent firm PB Fintech Ltd on Tuesday (March 11) said its board has approved an investment of up to ₹696 crore in its wholly owned subsidiary, PB Healthcare Services Private Limited, through the subscription or purchase of equity shares and compulsory convertible preference shares (CCPS) during FY 2025-26.

    “An investment for an aggregate amount of up to INR 696,00,00,000 (Indian Rupees Six Hundred Ninety Six Crore only) in PB Healthcare Services Private Limited, its wholly owned subsidiary by way of subscribing or purchasing its Equity Shares or Compulsory Convertible Preference Shares during the financial year 2025-26,” PB Fintech said in a regulatory filing.

    The investment, subject to shareholder approval via postal ballot, will be made alongside external investors, including Chairman & CEO Yashish Dahiya, Executive Vice Chairman Alok Bansal, and three Key Managerial Personnel (KMPs).

    PB Healthcare, incorporated in January 2025, operates in the healthcare and allied services sector. The investment aims to support the subsidiary’s operational expenses, enhance its brand presence, and fund strategic initiatives.

    Following the transaction, PB Fintech will hold up to 33.63% of PB Healthcare’s equity on a fully diluted basis. The acquisition is classified as a related party transaction and will be executed at fair value determined by a Registered Valuer.

    In January this year, PB Fintech’s Chairman and Group CEO, Yashish Dahiya, said the company’s health insurance business, which is currently growing four times faster than the industry, is a ‘long-term driver of value for the company’.

    Health insurance currently accounts for just over 60% of the company’s net present value (NPV). and slightly more than 30% of the total premium collected.

    Shares of PB Fintech Ltd ended at ₹1,462.00, up by ₹36.65, or 2.57%, on the BSE. CNBCTV18

  • Doctors are overworked due to unfilled shifts in London trusts

    Doctors are overworked due to unfilled shifts in London trusts

    A doctor’s union has said the number of unfilled shifts across London trusts is having a “detrimental impact” on medics who are working “increasingly understaffed and challenging shifts”.

    The British Medical Association (BMA) said its investigation found more than 32,000 doctors’ shifts unfilled in hospitals in London over a six-month period last year.

    The union has also claimed these shifts are not taken up by doctors as extra work as NHS trusts are “colluding” to keep rates of pay for extra shifts universally low across all hospitals.

    A spokesperson for NHS England said on average around 90% of shifts are filled in London’s NHS hospitals.

    ‘Patients deserve better’
    Freedom of Information (FOI) requests by the BMA revealed that across 23 London trusts at least 32,576 shifts have been offered to doctors, but have not been filled.

    Co-chair of the BMA North Thames Regional Resident Doctors’ Committee, Dr Shivam Sharma, said the information backs up “what doctors in London already know: we are untenably short staffed”.

    He added: “Every single one of those 32,000 unfilled shifts meant overworked doctors were left trying to do the work of multiple medics.

    “Patients in London deserve doctors who can give them the time and energy they need.”

    Dr Sharma said it is “only common sense that if trusts abandoned the medical rate cap and paid these shifts more competitively, as trusts in other parts of the country can do, we would see fewer rota gaps and better-staffed hospitals”.

    An NHS England spokesperson said its “top priority is patient safety, and we work closely with trusts and systems cross the capital to support best practice”.

    They said while 90% of shifts are filled in London, there could be “a variety of reasons” why the remaining shifts are not covered.

    It did not comment on the BMA’s claim that shifts were being left unfilled because of low pay rates.

    Kevin O’Kane, chair of the BMA London regional council, said it is “unacceptable” that doctors in the capital are being asked to work for rates that they have not been able to negotiate.

    He said: “When doctors take on extra work and sacrifice their already limited free time they deserve to be paid fairly, and in a way that reflects the increased costs that come from living in London.

    “The London medical rate cap is unjust, and we must find a way to ensure doctors are fairly paid for the extra shifts they do.

    “This is also in the interests of hospital trusts in the capital and the patients we all serve; by agreeing a London-wide set of rates, we create stability for trust managers and deliver a reliable supply of doctors to provide the care patients need.” BBC

  • ₹3,500cr in NTR Vaidya Seva dues; Andhra hospitals will stop offer services

    ₹3,500cr in NTR Vaidya Seva dues; Andhra hospitals will stop offer services

    Members of the A.P. Speciality Hospital Association have announced that they will discontinue all cashless services being offered to the people in the network hospitals under the Dr NTR Vaidya Seva from April 7 due to non-payment of dues amounting to ₹3,500 crore by the State government.

    Stating that the network hospitals in the State, around 620 in number, are stretched beyond the limit, the members have written a letter to Dr NTR Vaidya Seva CEO P. Ravi Subash pointing out that they are taking the step because there does not seem to be a way out of the situation.

    “Despite our best efforts to continue serving the BPL population and support the State government’s healthcare initiatives, the financial strain has made it unsustainable for us to function,” the letter says.

    The letter, released to the media on March 8, said the hospitals were struggling to keep the services running, as their monthly operational expenses also had not been paid so far.

    In January, Special Chief Secretary M.T. Krishna Babu had announced that the government would release ₹500 crore at the earliest towards clearing a part of the outstanding dues of the network hospitals.

    Contrary to the claims, the government did not release more than ₹70 crore in the month of January, association president K. Vijay Kumar said.

    “In December last, we were assured that ₹500 crore would be released immediately, but we received ₹400 crore. In January, we received ₹70 crore only,” Dr Vijay Kumar said, adding the government had time and again cited financial constraint because of the previous government as the reason.

    “But now, we are in no position to continue delivering services to the people. We have heard that as part of the hybrid model, the government is ready to pay around ₹4,000 crore upfront to the private insurance companies. When they have enough funds to pay them, why cannot they spend the amount on network hospitals,” the president questioned.

    Moreover, the association members were not invited for a discussion on making the shift to the hybrid model, where insurance companies would become a part.

    “The transition to a hybrid model will have an impact on the network hospitals. But none of us are kept in the loop. We got to know about the developments only through the media,” Dr Vijay Kumar said.

    Earlier too, in the month of November, the association had announced that it would discontinue the services, but did not go ahead with the decision after the government promised to release funds.

    “Now, there is no choice,” the members said, adding that unless the government announced immediate steps to resolve the issue, they would stick to their decision of stopping cashless services under the scheme. The Hindu

  • Rohit Sharma feels that “Indian cricket’s future is in good hands.”

    Rohit Sharma feels that “Indian cricket’s future is in good hands.”

    Following his team’s ICC Champions Trophy win, Indian skipper Rohit Sharma, spoke to teammate Jasprit Bumrah’s wife, sports presenter Sanjana Ganesan, about the his future in the Indian cricket team and the future of the Men In Blue.

    “It is very hard to say that right now. But I am keeping all my options open. I want to see how well I am playing. Right now, I am playing really, really well, and I am enjoying everything I’m doing with this team, and the team is enjoying my company as well, which is nice,” he said in the interview published by the ICC.

    The 37-year-old said that he cannot really commit to being a part of 2027 ICC Cricket World Cup squad, ICC Cricket reported. When the next tournament takes place in October-November 2027, Rohit will be 40 years of age. “I can’t really say 2027, because it’s too far,” he said.

    “”As long as I’m enjoying the sport, I’m enjoying playing the game, doing what I’m doing for this team, I will continue to play. It is something that really makes me happy. There are a lot of things involved, there’s so much pride, and the way this team is playing, I don’t want to leave this team. The way we are playing at this point in time, there is so much joy, so much fun to play with all of them,” he added.

    Nevertheless, Rohit feels regardless of his presence in the team, the future looks solid for the next decade, atleast.

    “You want to create your bench strength while you’re playing. Whenever we had the opportunity in the last four or five years, we’ve always tried to give opportunities to all these players. They’ve grabbed it. You can surely say that Indian cricket for the future is in very, very safe hands, looking at how the players are coming up, how they want to take that responsibility, how much hunger is there. The passion, the talent, all of that is there. It’s just about now going out there and doing it,” he said. Hindustan Times

  • Eng vs. Aus: 150th anniversary The test will be held at the iconic MCG under the lights

    Eng vs. Aus: 150th anniversary The test will be held at the iconic MCG under the lights

    Australia will play a day-night Test at the iconic Melbourne Cricket Ground (MCG) against archrivals England in 2027 to celebrate the 150th anniversary of Test cricket, Cricket Australia (CA) announced on Tuesday.

    The 150th Anniversary Test will be played from March 11-15, 2027, and will be the first time the Australian team will play a Test under lights at the MCG, the scene of the first Test match in 1877 and the Centenary Test in 1977 – remarkably, both won by Australia by 45 runs.

    This will follow the historic first day-night Test at the MCG earlier this year where Australia’s women completed an Ashes clean-sweep.

    The match, which will come after Australia’s five-Test Border-Gavaskar Trophy series in India 2027, is also likely to mean the late arrival of Australia and England players to the 2027 Indian Premier League, with IPL franchises told to expect that year’s tournament to run between March 14 and May 30.

    “The 150th Anniversary Test at the MCG will be one of the great cricket events and playing under lights will be a fantastic way to celebrate both our game’s rich heritage and Test cricket’s modern evolution,” Todd Greenberg, CEO of CA said.

    “It will also help ensure more people are able to attend and watch what will be a fantastic occasion. The Centenary Test created many iconic performances including David Hookes’ five consecutive boundaries off Tony Greig, Rick McCosker batting with a broken jaw and Derek Randall’s defiant century, and I’m sure the 150th Test will create its own lifelong memories,” he added.

    That Test will also make it the latest in the home summer a men’s Test has been staged in Australia since the 1978-79 series against Pakistan (which ended on March 29). Indian Express

  • Limited-overs form: About the Indian team & cricket

    Limited-overs form: About the Indian team & cricket

    India’s latest triumph in the ICC Champions Trophy carried an air of inevitability. In Sunday’s (March 9, 2025) final, they overcame a gritty New Zealand side by four wickets with an over to spare. As fireworks lit up the Dubai sky and the 252-run target was chased down, the victory reaffirmed India’s dominance in white ball cricket. Across 24 ICC tournament matches — including the 2023 ODI World Cup, the 2024 T20 World Cup, and the Champions Trophy — Rohit Sharma’s men have secured 23 wins, an astounding 95.83% success rate. Stationed in Dubai for three weeks due to the Indian government’s refusal to allow play in Pakistan, the official host, India benefited from a fixed venue and minimal travel fatigue. However, their success was not merely circumstantial — they executed their plans with precision. Group stage wins against Bangladesh, Pakistan, and New Zealand, followed by a semifinal triumph over Australia, set the stage for the final against the Black Caps. Despite concerns about New Zealand’s history of upsetting India — most notably in the 2019 World Cup semifinal — the Men in Blue handled the challenge adeptly.

    On a sluggish pitch, India’s strategy of fielding four spinners proved decisive. Varun Chakaravarthy, Ravindra Jadeja, Axar Patel, and Kuldeep Yadav stifled New Zealand’s scoring, though Mitchell Santner’s team still managed a competitive 251 for seven. In a high-stakes final, scoreboard pressure is always a factor, but Rohit’s composed 76 set the tone, and India’s deep batting line-up ensured a comfortable finish. While India has faced setbacks in Test cricket, including losses to New Zealand at home and Australia away, their limited-overs form remains formidable. The squad’s depth is evident — Rishabh Pant was left out of the playing XI, while talents such as Suryakumar Yadav and Ishan Kishan did not even make the squad. Contributions from Shreyas Iyer, K.L. Rahul, and Hardik Pandya underscored the collective effort, while Mohammed Shami’s return offset the absence of the injured Jasprit Bumrah. Virat Kohli’s consistency and Rohit’s leadership suggest that retirement is not imminent for either stalwart, but selectors must look ahead to the 2027 ODI World Cup. Honest assessments and strategic planning will be crucial to ensuring India’s sustained dominance in the years to come. The Hindu

  • Michigan’s high-speed internet plan is ineffective, costly, and slow

    Michigan’s high-speed internet plan is ineffective, costly, and slow

    Michigan lawmakers want to connect everyone to high-speed, broadband internet. And they have billions of dollars to do it. But their plan to do so isn’t a good one. In fact, it is almost guaranteed to spend too much money to connect very few people, and to take a long time doing so.

    The Michigan High Speed Internet office (MIHI) recently laid out the status of its plan in testimony before a state House committee.

    Michigan has two primary programs: the state’s ROBIN (or Realizing Opportunity with Broadband Infrastructure Networks) grand program, and the federal BEAD (or Broadband Equity, Access, and Deployment) program. Both are almost entirely funded by taxpayers through a mix of state, local and federal funding. In total, ROBIN is set to spend about $450 million while BEAD is funded at $1.6 billion for Michigan.

    Right now, 94% of Michigan households have access to high-speed internet. That leaves 6%, or 200,000 Michiganders, as “unserved.” These programs are intended to connect this group of residents.

    But in its testimony, the MIHI office moved the goal posts. A higher percentage of Michigan households have access to speeds of under 100 Mbps, and some have access to lightning-fast “gig” internet. So state officials are targeting money at these households and community organizations.

    The ROBIN program was funded by the federal American Rescue Plan Act while BEAD money comes from a separate federal broadband program. Both were passed in 2021. Yet little has actually been done with the program.

    ROBIN, which was started as part of “emergency” rescue spending during the COVID lockdowns, connects only 17,000 households. The officials said it will be a best-case scenario of 72,000 by 2027. Even if successful, this will be at a cost of $3,000 to $10,000 per household.

    BEAD money is rolling out even slower. The Biden Administration and Michigan officials have interpreted this money as going to “unserved and underserved” areas and for “fixed” broadband – by which they mean fiber line and not mobile or satellite. At the committee, officials said this is a “fill-the-gap” program between ROBIN and what private industry is already doing.

    That is going to hurt unserved rural communities. It means people who already have “pretty good” internet speeds could get funding to bring them up to great speeds. And community organizations with high-speed internet are also eligible for “gig” coverage. But the BEAD and ROBIN funds will be depleted quickly if used to give faster service to those who already have very good service. It doesn’t make sense for taxpayers to cover that while giving a lower priority to those who don’t have any broadband options at all.

    “Our goal is to get to 1 gigabit symmetrical service for not only institutions but homes and businesses as well,” MIHI Chief Connectivity Officer Eric Frederick said at the hearing.

    That is a fine goal for private industry. It is not a good goal for a government agency almost entirely reliant on taxpayer dollars. Few people need gigabit internet, and by focusing on this MIHI is going to leave others behind.

    The practical reality is that instead of helping roughly 6% of state residents who don’t have access to broadband, the office is shifting its focus to the 90% who are already served (and seeing internet speeds increase every year, driven by the market).

    In its presentation, MIHI also made it clear that it was going to focus specifically on laying fiber internet to hit these goals – not other technologies that can already provide high-speed internet. And the office will enforce stringent environmental review rules and favors for labor unions (requiring prevailing wage or federal Davis-Bacon wages).

    Other states are pushing back on the restrictions, and this misinterpretation of the law by the Biden Administration is likely to be re-written by the Trump Administration. It makes little sense for Michigan to maintain unnecessary requirements that only serve to slow down building broadband.

    The timeline for all of this is disheartening. The state established a high-speed internet office years ago. The funding for this was passed nearly four years ago. But the BEAD program doesn’t expect to break ground on projects until 2026. It should not take five years from Congressional appropriations just to start building out a project. Mackinac

  • Home broadband users to rise 3x by FY30: HSBC Global Research

    Home broadband users to rise 3x by FY30: HSBC Global Research

    Home broadband subscriptions for telecom companies are expected to increase 177 per cent to 111 million by FY2030 as opposed to 40 million in 2024, said HSBC Global Research.

    “We expect home broadband to be the next big growth opportunity for telecom operators and expect TAM (Total Addressable Market) to expand to $7 billion as we forecast subs growing 2.75x to 111m by FY30e,” said HSBC, listing 5G fixed wireless access (FWA) service and fibre home passes as the key catalyst for TAM growth.

    FWA adoption increased over the last nine months as equipment prices went down and operators strengthened their installation and distribution capabilities. Citing Reliance Industries’ recent 3QFY25 results, HSBC said that 70 per cent of the telco’s new AirFiber (FWA) connects are from beyond top 1,000 towns.

    “[This] reinforces our view on demand for the home broadband service. Telcos are well placed to capture a share of household entertainment spend with their bundled home broadband plans, which come with a rich content offering,” said the report.

    The report also expects Reliance Jio and Bharti Airtel to be the key beneficiaries of this trend, predicting Jio to capture 50 per cent of the market share by FY30e and reaching 56 million subs and Airtel to reach 23 per cent of market share by FY30e, with 25 million subs.

    In FY24, Jio recorded 11.3 million subs with a 35 per cent annual growth. HSBC expects Jio’s home broadband subs to surge by 51 per cent CAGR over FY24-27e to 38.8 million. Similarly, Airtel reported 7.6 million subs in FY24 with a 26 per cent annual growth. The telco’s home broadband subs will increase by 28 per cent CAGR over FY24-27e to 15.9 million. Meanwhile, Vodafone Idea reported 1,043 million subs in Q4FY24. The Hindu Business Line

  • What makes Zee Entertainment’s stake hike good news?

    What makes Zee Entertainment’s stake hike good news?

    Zee Entertainment Enterprises (ZEEL) is back in the spotlight after its promoters increased their stake in the company. According to the brokerage, Nuvama, the company’s subscription revenue continues to rise steadily, while advertisement revenue is expected to recover in the coming quarters. The brokerage has maintained a ‘Buy’ rating for the stock.

    Let’s break it down and understand what this means for investors as well as how is Zee Entertainment positioned for growth?

    Nuvama on Zee Entertainment : Promoters boost stake
    After a long gap, Zee Entertainment promoters have stepped in and acquired around 2.7 million shares worth Rs 270 million through open market purchases. This has raised their stake from 3.99% to 4.28%.

    Promoters typically buy shares when they believe the stock is undervalued and has strong long-term potential. According to the brokerage report, “the quantum of this acquisition shows belief in the long-term prospects and growth potential of the company.”

    Moreover, Zee Entertainment share price is currently trading at a one-year forward price-to-earnings (P/E) ratio of 10x, significantly lower than its historical average of 14x, added the brokerage report.

    Nuvama on Zee Entertainment : Subscription revenue growth
    Zee’s subscription revenue has been on a steady upward trend for the last seven quarters. In Q3FY25, it recorded a 6.6% year-on-year (YoY) increase, primarily driven by Zee5’s growing subscriber base.

    This segment is expected to continue its growth trajectory, aided by price hikes in traditional TV services, expanding digital subscriber base, and strong content pipeline, added the report.

    Nuvama on Zee Entertainment: Ad revenue challenges
    Zee Entertainment, like many other media houses, has been facing challenges in advertising revenue due to weak macroeconomic conditions. The urban slowdown has particularly affected FMCG brands, a key revenue driver for broadcasters.

    However, as per the brokerage report, ad revenue is likely to rebound from Q2FY26 onwards, supported by a recovery in urban demand and falling crude oil prices, boosting FMCG companies’ margins and ad budgets.

    According to the brokerage report, “We reckon ad spends shall improve for these companies in FY26 with falling crude prices increasing the wallet share towards ad spends.”

    In addition to this, Zee Entertainment has been shifting focus from national brands to local FMCG advertisers, who are willing to pay a 50% premium over national players for visibility.

    Nuvama on Zee Entertainment: Beyond TV – A multi-sector growth strategy
    Zee Entertainment’s focus is not just on traditional broadcasting. The company is actively expanding across four key verticals – Linear TV, Digital,
    Movies, and Music.

    During its Q3FY25 earnings call, ZEEL emphasised its commitment to improving margins. “In Q4FY25, Zee expects to make good strides on the margin front. Key focus growth area will be investment, movie launches, and revenue,” the company stated.

    The company aims to achieve an EBITDA margin of 18-20% by FY26, a significant improvement from its current levels.

    According to the brokerage report, “The stock is trading at oversold levels and presents an attractive valuation opportunity.”

    Zee Entertainment stock performance
    Zee Entertainment’s share price closed at Rs 107.21 today, gaining 3.12% in a single session. Over the past five days, the share price of Zee Entertainment has surged nearly 19%. However, looking at a broader timeline, it has faced challenges, dropping 23% in the last six months and 31% over the past year. Financial Express

  • Poland may abandon Starlink for Ukraine amid concerns with reliability

    Poland may abandon Starlink for Ukraine amid concerns with reliability

    Poland, which pays for Ukraine’s Starlink internet services, may seek an alternative if Elon Musk’s company proves to be “unreliable”, the foreign minister said on Sunday after the billionaire speculated about turning off access to the system.

    Starlink provides crucial internet connectivity to Ukraine and its military. US negotiators pressing Kyiv for access to Ukraine’s critical minerals have raised the possibility of cutting the country’s access to the service, sources familiar with the matter told Reuters in February.

    Musk, a high-profile figure in the administration of U.S. President Donald Trump, said in a post on his X social media platform on Sunday, that Ukraine’s “entire front line would collapse if I turned it off”.

    He said he was “sickened by … years of slaughter in a stalemate that Ukraine will inevitably lose”.

    The US government has already revoked some access to satellite imagery for Ukraine and paused intelligence sharing, piling pressure on Kyiv as Trump seeks a swift end to the war, now in its fourth year after Russia’s full-scale invasion in February 2022.

    “Starlinks for Ukraine are paid for by the Polish Digitization Ministry at the cost of about $50 million per year,” Polish Foreign Minister Radoslaw Sikorski wrote on X.

    “The ethics of threatening the victim of aggression apart, if SpaceX proves to be an unreliable provider we will be forced to look for other suppliers.”

    Starlink’s parent company SpaceX did not immediately reply to an emailed request for comment outside normal business hours.

    Shares in Franco-British satellite operator Eutelsat soared as much as 650% during the week ending March 7, due to speculation the company could replace Starlink in providing internet access to Ukraine.

    The shares pulled back on Friday to end the week up around 380%.

    Poland said in February that it would continue to cover Ukraine’s Starlink subscription despite sources saying the U.S. could consider cutting it. Reuters