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Optimism on the Dalal Street.

Five of the top-10 most-valued firms added Rs 1,99,111 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in tandem with bullish sentiments. The BSE benchmark jumped 542.3 points or 0.75% while the benchmark equity indices Sensex and Nifty surged over 1% to hit fresh all-time highs on Friday.

The positivity is expected to continue this week, and investors will keep a sharp eye on the quarterly earnings of banking companies such as HDFC Bank, ICICI Bank, Kotak, and Mahindra Bank as well as Jio Financial Services. 

However, crypto in India is facing a major setback as Google has removed several crypto exchanges, including Binance and Kraken, from its Play Store. This follows India blocking websites of major global cryptocurrency exchanges, including Binance, KuCoin, and OKX, late last week. Apple has also pulled these three platforms from its App Store. 

ICYMI: Offbeat international destinations to visit in 2024. 

Oh and over the past decade or so, aficionados of nolen gur–a date palm jaggery endemic to West Bengal–have been anxious about its future. Climate change, adulteration, and a host of socio-economic factors have toppled its demand-supply game. 

Here’s a list of other foods impacted by climate change in 2023. 

In today’s newsletter, we will talk about 

• Dr Ravindranath Shanbhag’s quest for justice
• TN fisherwomen’s journey to building an eatery

Here’s your trivia for today: Which element is combined with iron to create steel?

Inspiration

Dr Ravindranath Shanbhag’s quest for justice

A household name in Karnataka, Dr Ravindranath Shanbhag is a former professor of pharmacology-turned activist, and Founder and President of Consumer Forum Basrur and Human Rights Protection Foundation, Udupi. 

Having spent 41 years dedicated to the consumer and human rights movement, Dr Shanbhag has resolved over 38,000 citizen grievances free of cost. 

Guiding light:

• In 1990, when complaints of atrocities on women and children surfaced, Dr Shanbhag founded Samanvaya to specifically address these issues.
• Two years later, he founded the Human Rights Protection Foundation, to offer assistance against any form of injustice—irrespective of its nature, the social status of the victim, or the party responsible for it. 
• To raise awareness, Dr Shanbhag has conducted over 2,000 seminars across various states including Karnataka, Maharashtra, Goa, Uttar Pradesh, Bihar, Himachal Pradesh, Gujarat, Kerala, and Rajasthan. 

Entrepreneurship

TN fisherwomen’s journey to building an eatery

In 2016, five women from Tamil Nadu’s Poompuhar decided to set up an eatery that functioned out of a hut. Their small initiative–which started with a microfinance loan of Rs 50,000–has helped them launch a full-fledged eatery and create a livelihood. 

In business:

• Spearheaded by Stella Gracy, the venture called Dolphin Unavagam has not only been able to pay back the initial loan but also helps each of the five members earn Rs 20,000 a month.
• Besides the freshly prepared food, Gracy and the other ladies also sell fish and prawn pickles that have become a hit among villagers and travellers alike. 
• During the COVID-19 pandemic, the women catered for weddings and birthday functions, compensating for the loss of their regular business.  

News & updates

• Lithium: Chinese electric car maker BYD has held talks with Brazil’s Sigma Lithium (SGML.V) over a possible supply agreement, joint venture, or acquisition, the Financial Times reported on Sunday.
• Volcano: A volcano has erupted north of the south-western Icelandic town of Grindavik near the site of a previous eruption in December 2023, the Icelandic Meteorological Office (IMO) said. residents of Grindavik were evacuated at about 3 AM (0300 GMT) on Sunday, the Icelandic public broadcaster RUV reported.
• New king: Denmark entered a new era as King Frederik X assumed the throne following the shock abdication of his mother Queen Margrethe II. The handover took place at a cabinet meeting at Christiansborg Palace in the capital Copenhagen, when Margrethe signed a declaration of her abdication.

What you should watch out for

• Davos 2024: The 54th Annual Meeting of the World Economic Forum takes place from 15 – 19 January in Davos, Switzerland. This year’s agenda is Rebuilding Trust. The ongoing trade concerns in the Middle East as well as rising inflation will likely be the focus of this year’s Davos meet.
• National Startup Day: To bring together the country’s startups, entrepreneurs, investors, policymakers, and other stakeholders, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is organising the Startup India Innovation Week 2024 from 10th January 2024 to 18th January 2024. The National Startup Day will be held on 16th January 2024.
• IPO watch: Four companies will launch their IPOs, worth Rs 1,280.7 crore in total, this week. Maxposure and Media Assist Healthcare will open IPOs on January 15, and Konstelec Engineers and Addictive Learning Technology on January 19.

Which element is combined with iron to create steel?

Answer: Carbon. 

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