Naukariadda

The way the commodities have rallied is very unlike most other cycles. Usually, just in the first few months of the cycle, commodity prices do not double across the board, says Sandip Sabharwal, analyst, asksandipsabharwal.com. After Friday’s chaos, would you be cautious for the next few days?We should see more corrections in March. Whether that correction happens today or we a bounce back today is very tough things to predict, but overall, if you look at the structure of the market in terms of valuations and the fact that what has led to the sell-off has been a spike up in bond yields globally, should continue because in the US economy, there is a recovery underway. On top of that, they are looking at another stimulus and that could overheat the economy. Banks make more money when a new cycle starts. How come banks led the selling on Friday?Normally bond yields will move up when the recovery cycle has started and there is an expectation of significant recovery. Obviously next year, th...

The biggest risk for India is the rising coronavirus cases, said Christopher Wood, chief global market strategist at Jefferies. In an interview with Sanam Mirchandani, Wood said that the key thing in 2021 for financial markets is all about how the Fed reacts when it becomes clear that they are way too easy. Edited excerpts:How are you viewing emerging markets against the backdrop of a surge in bond yields?I was expecting the bond market sell-off so I am not surprised. So long as the Fed is talking dovish, the stock markets will continue to rally. The risk to the markets becomes clear that the economies are rebounding more than the Fed was expecting. The risk is that there is a taper but for now Powell is still talking dovish. The stock market will keep going up and the bond market will keep selling off until the Fed reacts.The key issue is how they react. They may try and stop the bond market surge and long-term interest rates rising by adopting some version of what the Japanese call y...

To our shock and dismay we found that a recently deceased friend held all his assets in his sole name. The distraught wife who is still coming to terms with her loss will now have to run pillar to post trying to get her entitlements and benefits. She has to begin with establishing that she is the legally wedded spouse. When people argue over one investment or another, spending immense time making that decision, I so want to ask if they have given the same attention to what happens to the money after their death.The sad reality in many homes is that there isn’t even an easily accessible list of assets. There are insurance policies that the unexpected death should trigger; but beneficiaries don’t even know these exist! Death is tragic when it leaves behind people who don’t have the knowledge, influence or the power to access assets that are rightfully theirs. We have seen young fathers pass away without changing the nominees in their PF accounts, leaving the hapless wife at the mercy of ...

TOKYO - Solid demand for technology goods drove extended growth in Asia's factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow.The vaccine rollouts globally and pick-up in demand provided optimism for a vast number of businesses that had grappled for months with a cash-flow crunch and falling profits.In Japan, manufacturing activity expanded at the fastest pace in over two years while South Korea's exports rose for a fourth straight month in February, suggesting the region's export-reliant economies were benefiting from robust global trade.On the flip side, China's factory activity expanded at the slowest pace in nine months in February, hit by a domestic flare-up of COVID-19 and soft demand from countries under renewed lock-down measures.China's was the first major economy to lead the recovery from the COVID-19 shock, so any signs of prolonged coolin...

This year, only the list of listed equity investments of Berkshire Hathaway has been given. There is no commentary on any of the companies that they own or outlook and things like that, says Rajeev Thakkar, CIO, PPFAS MF. What do you make of Warren Buffett’s letter this year?The interesting thing about this year’s letter is what is not there in the letter. People eagerly wait for the letter to get his commentary on the yield environment, on the market environment as to the listed equity and other things. He has said that bonds are not the place to be in now. He has said that before given the low interest rate. However, he has not said what should be done with the money that either Berkshire Hathaway has or other investors may have in the absence of bonds. This year, in the letter, there is a section on investments -- the listed equity investment of Berkshire Hathaway. This year, only the list has been given. There is no commentary on any of the companies that they own or any of the out...

AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company's shares soared on the back of its coronavirus vaccine breakthrough, The Times reported. The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna. AstraZeneca and Moderna did not immediately respond to requests for comment. AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added. Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year. from Economic Times https://ift.tt/3bKz9Da

From being among the first fund houses to foray into the mid cap space, to having schemes in many new themes and spaces, Sundaram Mutual has come a long way in the last 25 years. We spoke to Sunil Subramaniam, MD & CEO, Sundaram Mutual, to talk about the long journey from Sundaram Newton to Sundaram BNP Paribas and now Sundaram Mutual. Edited Interview.Sundaram Mutual has completed 25 years in the industry. What do you want to say?A big thank you to our customers and distributors. Uninterrupted profitability while sticking to our core brand values would not have been possible without their unflinching faith in us.How has this journey been from Sundaram Newton to Sundaran BNP Paribas and now Sundaram Mutual?The journey has been one of massive learning - starting with fixed income products with Newton, discovering the joy of unearthing new investment opportunities in equites especially the Mid and small caps as Sundaram Mutual, adopting international risk management and institutional...

Till a month ago, Nitin Aggarwal had no reason to alter the simple investment strategy he has followed for years. The Hyderabad based IT professional puts Rs 20,000 in equity funds and pours Rs 45,000 into the Voluntary Provident Fund (VPF) every month. “The VPF gives me 8.5% tax free returns, the highest for any fixed income instrument,” he says. However, the Budget proposal to tax the interest earned by contributions exceeding Rs 2.5 lakh a year could change this simple structure. Along with the mandatory contribution of Rs8,500, Aggarwal’s total monthly contribution to the Provident Fund is Rs 53,500, or Rs 6.42 lakh in a year. From April, the interest earned by Rs 3.92 lakh will get taxed, reducing Aggarwal’s returns to 5.85%. Since Rs 2.5 lakh contributed by him will still earn 8.5% tax free returns, his overall return from the Provident Fund will fall to 6.9%. “I am exploring other options that can give me better returns than 5.85%,” he says.His concern is shared by millions of P...

Strong economic recovery will keep markets buoyant for quite some time to come and data-savvy new investors will ensure equity market participation is high, Dinesh Thakkar MD and Chairman, Angel Broking tells ET Wealth.With markets at record highs, what are your expectations for the next few years?Markets have shown tremendous recovery in the span of just 10 months. From the record lows of Nifty’s 7,500 points to 15,400 points now on the back of high liquidity flows, we are looking forward to a strong economic recovery to take this momentum forward. In addition, we have seen a lot of retail participation, especially among millennials and first-time investors, which shows their confidence in equity markets. We expect this trend to continue.What is the best way for investors to approach a runway market like this?Markets reflect growth in the economy. India has enough growth drivers to keep markets in a bullish mode for the long term. It is difficult to time the markets. The best approach...

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.HOW THE FUND HAS PERFORMED 81240302WHERE THE FUND INVESTS 81240310BASIC FACTSDate of Launch: 10 April 1999Category: EquityType: ELSSAUM (As on 31 Jan 2021): Rs 4,151 crBenchmark: NIFTY 500 Total Return IndexWHAT IT COSTSNAV(As on 23 Feb 2021)Growth option: Rs 701.3175Dividend: Rs 42.9452Minimum Investment: Rs 500Minimum SIP Amount: Rs 500Expense Ratio(As on 31 Dec 2020) (%): 1.89Exit load: 0%FUND MANAGERS: R. Janakiraman, Lakshmikanth ReddyTenure: 4 years, 8 months eachTop 5 sectors in portfolio (%) 81240336Top 5 stocks in portfolio (%) 81240349Recent portfolio changesNew Entrants: Housing Development Finance Corp (Jan)Complete Exits: Dish TV India (Nov). Ambuja Cements (Dec. Titan Company, TVS Motor (Jan).Additions: Kotak Mahindra Bank, City Union Bank (Jan)How risky is it? 81240360Source: Va...

"Nevertheless it was the natural reaction of most Germans, or Austrians, or Hungarians— indeed as for any victims of inflation—to assume not so much that their money was falling in value as that the goods which it bought were becoming more expensive in absolute terms”.That’s a quote from the book When Money Dies by Adam Fergusson, a British journalist and politician. People who are familiar with economic history will know that this refers to the hyperinflation in these European countries after their defeat in the First World War. From June 1918 to November 1923, the total inflation in Germany was 9,248,560,000,000%. From its pre-war (1914) exchange rate with the US dollar of about 4 marks to a dollar, the German Mark was reduced to an exchange rate of 4,210,500,000,000 Marks to one dollar in November 1923, when it was finally abolished. Of course, the currency had become meaningless by that time, so much so that you can find photographs online of people using currency notes as wal...

ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours:Eye on IndiaEvery year after the budget, this legal eagle packs his bag and heads for an American rendezvous, catching up with clients and updating them about the Indian dream. This year, thanks to the travel restrictions, that wasn’t possible and it had to be a virtual session. The exuberant gent lined up a series of transactions that he felt were top of the charts in terms of complexities and smooth execution. Odd though that most that made the cut were ones his firm had been involved with. We don’t know if the controversies that each one of them had attracted were also mentioned.Dickie SeatsThis sporting arena that made global headlines also houses close to 75 AC boxes for VIP guests. During the recent event, several local and national corporates spent Rs3.5-5.5 crore to buy these prime seats, only to be disappointed due to the early end of the game and the sub-optimal arrangements....

The 78th Golden Globes went live on Monday, taking place virtually for the first time in the history of the award show. The event is hosted by none other than comedians Tina Fey and Amy Poehler, who are returning for the fourth time, after hosting in 2013, 2014, and 2015. The two are hosting the show from opposite coasts due to the Covid-19 pandemic. The two are sharing duties from their respective cities, with Fey on the East Coast and Poehler on the West Coast. Fey is presenting the show live from New York’s Rainbow Room, Poehler is live from the Beverly Hilton, in Beverly Hills, while nominees from various locations around the world join in. 81265058 Netflix's 'Mank' -- set in Hollywood's Golden Age about the making of 'Citizen Kane' -- leads all films with six nominations, followed by another Netflix movie, 'The Trial of the Chicago 7', at five.Mark Ruffalo, British actors Daniel Kaluuya and John Boyega, Aaron Sorkin and animated film 'Soul',...

Bengaluru: Inspired by the rapid pace of growth in the Indian esports sector, Animesh Agarwal, an esports professional, decided to move from just playing games to becoming an entrepreneur. The 25-year old, who launched a gaming talent agency recently, now divides his time between his gaming talent agency and attending invitation-only esports tournaments globally.Esports, which takes the form of organised, multiplayer video game competitions, particularly between professional players who are playing individually or as teams, is broadcast live for interested audiences, much like athletic sporting events.“Covid-19 really helped the gaming industry a lot because the only form of leisure apart from OTT platforms was gaming. We saw a huge surge of people following us across YouTube, Instagram, Loco,” Agarwal said. “Since we are very optimistic about how 2021 would be for gaming, we are going heavy with investments that we are putting into our company.”Agarwal’s rise from a professional playe...

Tata Motors-owned Jaguar Land Rover (JLR) is open to the idea of a strategic partner for Jaguar after having decided to convert the iconic brand into an ‘electric only’ range by 2025. This is aimed at both reducing the time to market and building economies of scale.“We need to look at the opportunities in terms of architectures that we could utilise or we find to give us a type of stunning, jaw-dropping design, or it may be that we might actually develop a platform internally to deliver these products that are drop-dead gorgeous,” JLR CEO Thierry Bollore told investors Friday. “I want to say, the choice of the platform has to respect the proportion of designs that are going to be proposed to us.”Under the new roadmap “Reimagine”, JLR expects to double the pace of expansion (4.5% compounded annual growth rate) between FY20 and FY26 compared with a CAGR of 2.8% in the last six.It has set a target of attaining 30 billion (Rs 3 lakh crore) of turnover by FY26, which would take Tata Motors’...

Mumbai: Last month, Kuaishou listed on Hong Kong’s stock exchange at a valuation of $160 billion—nearly as much as larger rival TikTok’s worth. By way of comparison, the IPO makes Chinese short-video app almost as valuable as Qualcomm, a storied chipmaker and holder of foundational wireless technology patents, whose market capitalisation is $167 billion.These developments are being closely watched in India’s short-video space, which mushroomed in the aftermath of the TikTok ban in June last year.Over the past few months, Indian short-video apps have been consistently among the top free apps on Google’s Play store. Times Internet’s MX TakaTak, Dailyhunt’s Josh, Sharechat’s Moj are leading the pack and indicating the traction gained in the absence of their Chinese rivals.Investors see the Kuaishou IPO as a giant thumbs up for the sector. “It will be a big positive,” said Anand Lunia, founding partner at India Quotient, one of the investors in Moj. “Now you know how to value a non-America...

Former President Donald Trump hinted on Sunday at a possible presidential run in 2024, attacked President Joe Biden and repeated his fraudulent claims he won the 2020 election in his first major appearance since leaving the White House nearly six weeks ago. Addressing the Conservative Political Action Conference in Orlando, Florida, Trump vowed to help Republicans try to regain majorities - lost during his presidency - in the U.S. House of Representatives and Senate in 2022 congressional elections and dangled himself as a possibility for president in 2024. "With your help, we will take back the House, we will win the Senate and then a Republican president will make a triumphant return to the White House. I wonder who will that be?" he said, smiling. "Who, who, who will that be, I wonder." Trump's weeks away from Washington do not appear to have dimmed his anger at Republicans who voted to impeach or convict in a failed congressional effort to hold him responsibl...

The Tamil Nadu government has extended the state-wide lockdown till March 31. However, it has not brought in any new stricter rules but has listed out the advisories issued by the Centre.The order says that the district administration should strictly enforce measures to prevent and manage Covid-19 and can "as far as possible use provisions of Section 144."The district administration will take steps to promote Covid-19 appropriate behaviour and ensure wearing of masks, hand hygiene and social distancing, demarcating containment zones and adherence to SOPs.It also says that national directives for Covid-19 management like use of face covering and social distancing must be enforced and spitting in public should be penalised.The earlier announced shutdown was in force till February 28. from Economic Times https://ift.tt/3swIcOL

Leading jewellery retailers, including Tanishq, Malabar Gold & Diamonds, and Senco Gold & Diamonds, have stepped up gold jewellery hallmarking, which is set to become mandatory from June 1.“We have tied up with selected BIS accredited hallmarking centres, which we have ascertained, have good quality processes and appropriate capacity. We have commenced the process of hallmarking from these select centres to ensure that we are fully ready by June 1,” Ajoy Chawla, CEO, jewellery division (Tanishq), Titan Company, told ET.Chawla said the government has taken the right direction by making hallmarking mandatory for jewellery. “There are many hallmarking centres across the country. The government needs to ensure adequate oversight on these centres to ensure rigor in hallmarking standards is maintained,” Chawla said. “It will create a level playing field for jewellers at one end and protect consumers on the other.”However, several retailers said the majority of the jewellers in the un...

The government on Sunday said that data collection of wholesale and retail prices of 22 essential commodities on a daily basis has improved following the launch of a mobile app from January this year. The Department of Consumer Affairs monitors prices of rice, wheat, wheat flour, gram dal, tur/arhar Dal, urad dal, moong Dal, masoor Dal, sugar, milk, groundnut oil, mustard oil, vanaspati, soya oil, sunflower oil, palm oil, gur, tea, salt, potato, onion and tomato. The price data is being collected from 127 centres across the country through food and civil supplies departments of state governments. "To improve the quality of prices data for reporting daily prices by the price reporting centres, the Department of Consumer Affairs launched a Mobile App on 1st January, 2021," the department said in a statement. The monitoring and predictive analysis of prices of essential commodities has taken a giant step forward, it said.The mobile app for price monitoring for 22 essential commo...

The existing restrictions due to coronavirus in Pune district of Maharashtra were extended till March 14 on Sunday, an official said. These include restrictions on movement between 11 pm and 6 am for non-essential activities, as well as closure of educational institutions, he said. The order was issued by District Collector Rajesh Deshmukh and Pune Municipal Commissioner Vikram Kumar, he said. The COVID-19 restrictions, from which essential services are exempt, had been imposed on February 21 due to the recent spike in infection cases. The district reported 1,505 new COVID-19 cases on Saturday, which took its total case count to 4,06,453. The death toll in the district till Saturday night stood at 9,235, officials said. from Economic Times https://ift.tt/3r1uwLm

Lambasting the erstwhile Congress government in Puducherry, Union Home Minister Amit Shah on Sunday alleged V Narayansamy, who headed it, gave "cut money" to the "Gandhi family" from Rs 15,000 crore Central funds.Addressing an election rally of BJP in Puducherry, an enclave of the union territory, Shah claimed the Congress government, which collapsed earlier this month after losing majority, indulged in "petty politics" over Central schemes meant for Puducherry.He charged the former chief minister with focussing more on serving the "Gandhi family" in Delhi and giving "cut money".Hitting out at Narayanasamy for blaming the BJP for the fall of his government, Shah said many senior leaders were leaving the Congress "because it is collapsing across the country due to dynasty politics."Shah also ridiculed Congress leader Rahul Gandhi for saying there was no 'dedicated' fisheries ministry, and pointed out that Prime Minister...

India on Sunday described Sri Lanka as "Priority One" partner in the defence sphere and said the participation of its military aircraft in the 70th anniversary celebration of the Sri Lanka Air Force (SLAF) is indicative of the growing cooperation, camaraderie and friendship between the two militaries. The SLAF is celebrating its 70th Anniversary on March 2 and to commemorate the historical event, a Fly Past and an Aerobatic Display is being organised for the first time in the country at a grand scale. A total of 23 aircraft of the Indian Air Force (IAF) and Indian Navy would participate in the grand event. Sri Lanka is "Priority One" partner for India in the defence sphere, the Indian High Commission in Colombo said in a statement on Sunday. It said the assurance of India's fullest cooperation in the field of defence and security was recently reiterated to Sri Lanka's leadership by National Security Adviser Ajit Doval during his visit to Colombo for a trilat...

The Army has cancelled an examination for pan-India recruitment of general duty personnel after paper was found to have been leaked, officials said on Sunday. They further said at least three persons have been arrested in Pune so far. "The Indian Army has zero tolerance towards corrupt practices in the recruitment process for selection of suitable candidates," an official said. Based on a proactive joint operation with local police at Pune, a case of possible leakage of question paper prepared for Common Entrance Examination for Recruitment of Soldiers (General Duty) was reported last night, the official added. While further investigations are underway, it was decided to cancel the examination to ensure continuous transparency in the recruitment process. from Economic Times https://ift.tt/3kt9eDU

The International Astronomical Union (IAU), an organisation which assigns official names and designations to celestial bodies, has recently confirmed the discovery of 18 new asteroids by Indian students as part of a global science programme. The International Asteroid Discovery Project was conducted by STEM and Space, an organisation working towards the learning of astronomy and space science in India, along with the International Astronomical Search Collaboration (IASC) as part of a NASA citizen science project. Over the last two years, 150 students from all around India participated in this two month long campaign to find asteroids, making this the largest asteroid discovery project in India, Mila Mitra, Co-founder and Academic Head of STEM and Space, said. In the project, the students from India, and across the globe analysed the high quality astronomical data provided by IASC -- an online scientific program for kids to discover Asteroids and Near Earth Objects (NEO). NEOs are rocky...

The 'Make in India' lion statue inaugurated by Karnataka Chief Minister B S Yediyurappa on Saturday has turned out to be the new attraction in the city, as passersby were seen catching its glimpse and clicking its pictures. The city civic body- the Bruhat Bengaluru Mahanagara Palike (BBMP)- has installed the statue of the roaring lion at Windsor Square, which is close to the Chief Minister's official residence. The statue, which weighs over 1,000 kg, is made from fibre-reinforced plastic, is 23 feet long, 4.5 feet wide, and 10 feet high. It is placed on a platform which rotates, officials said, adding that it will take nearly eight minutes for one complete rotation. Sculpted at Ghaziabad near Delhi the statue and the overall cost of the project that included beautified Windsor Square is Rs 1 crore, officials said. BBMP Commissioner N Manjunath Prasad said, Chief Minister Yediyurappa was the driving force behind the state. from Economic Times https://ift.tt/3qYdYUm

Swedish furniture major IKEA, which has a range of over 1,000 products as part of its children's range, is looking to scale up sourcing of toys from India for its operations in New Delhi, said a top company official.Besides, IKEA India is also aiming to have around 12 per cent of sales from kids' range of products in the coming years.The company, which currently sources only cotton-based soft toys from India, is also exploring to expand in some other categories such as wooden toys, said IKEA India Country Commercial Manager Kavitha Rao.IKEA, which has participated in the India Toy Fair, said it is exploring opportunities to partner with several players in the toy segment, which is a big focus area of the company.When being asked as to whether IKEA is going to increase sourcing of toys from India, Rao told PTI, "Of course, yes. That is one of the main reasons why we are part of the toys fair.""Because we could be a large buyer and of course, it is contingent on me...

NEW DELHI: Benchmark indices fell about 3 per cent last week as rising bond yield led to outflow of foreign institutional money, with most of the damage done by banking and auto stocks.In the BSE500 index, 270 stocks ended the week in the red while the rest gained, led by chemicals and commodity-based stocks.On the sector front, except metals which ended with strong gains, all the other indices ended with losses wherein heavyweights like auto, banking and IT were the top losers. Interestingly, the broader markets continue to outperform the benchmark wherein both the indices ended in the green.“Indications are pointing towards further slide in the Nifty and the next support at 14,400 and 14,200 levels. We expect volatility to remain high so traders should maintain extra caution in risk management aspects. The prudent strategy would be to use rebound to create shorts using options instead of naked futures,” said Ajit Mishra, VP - Research, Religare Broking.Here are 10 stocks that buzzed ...

EW DELHI: Remaining net buyers for second consecutive month in this calendar year, overseas investors pumped in Rs 23,663 crore in Indian markets in February on account of positive sentiment due to the Union Budget 2021-22 and strong third quarter earnings.Foreign portfolio investors (FPI) invested a net Rs 25,787 crore into equities but pulled out Rs 2,124 crore from the bonds market during February 1-26, the depositories data showed.This took the total net investment to Rs 23,663 crore during the period under review.Last month, the total net investment stood at Rs 14,649 crore.Rusmik Oza, executive vice-president and head (fundamental research) at Kotak Securities, said, "Most of the FPI flows this month can be attributed to the strong outcome of the Union Budget and third quarter earnings season."Besides, Geojit Financial Chief Investment Strategist V K Vijayakumar noted that the pace of FPI inflows has slowed since the US 10-year yield is spiking up.The US 10-year bond yi...

Aditya AgarwalaSenior Technical Analyst, YES SecuritiesIt was a bloodbath in the Indian equity markets on the last trading day of the week as Nifty-50 Index ended with a massive cut of 4%. Further, relentless selling by the bears after a GAP down opening pushed the Nifty-50 Index below its recent support zone of 14,630 indicating weakness; though the selling halted at the 50-DMA placed at 14,440 which also happened to be the GAP support area. A sustained trade below this support of 14,440 will extend the corrections to 14,330-14,300 levels. Technical indicator RSI has also turned down from the bear upper territory of 60 confirming bearish sentiments prevailing at the moment. However, on the flip side a trade beyond 14,650 will trigger a short covering rally taking the Index back to levels of 14,800. Equity recommendationDLF FuturesSell@ CMP Rs 303Target: Rs 284Stop Loss: Rs 313The stock is on the verge of a breakout from a trendline support placed at 300 levels, a breakdown from this s...

Arunachal Pradesh became a coronavirus-free state on Sunday with the three active cases recovering from the disease, a senior health official said. The total caseload in the northeastern state remained at 16,836, while the number of recoveries stood at 16,780, State Surveillance Officer Lobsang Jampa said. No fresh COVID-19 case was reported in the past 24 hours, he said, A total of 56 people have so far died due to the contagion in the state. Arunachal Pradesh's recovery rate and positivity rate are at 99.66 per cent and zero per cent, respectively, the official said. Altogether, 4,05,647 samples have been tested, including 312 on Saturday, Jampa said. Meanwhile, State Immunisation Officer (SIO) Dimong Padung said 32,325 health and frontline workers have received vaccine shots in the state thus far. The health department has been carrying out the inoculation drive four days a week - Monday, Thursday, Friday and Saturday. from Economic Times https://ift.tt/2MCWuOA

The Indian Space Research Organisation (ISRO) chief K Sivan on Sunday congratulated the Brazilian team on the occasion of the launching of Polar Satellite Launch Vehicle (PSLV) C51 carrying Brazil's Amazonia-1 satellite and 18 other satellites from Satish Dhawan Space Centre at Sriharikota in Andhra Pradesh.Sivan said that India and ISRO feel proud to launch Brazil's Amazonia-1 satellite."In this mission, India and ISRO, feel extremely proud, honoured and happy to launch the first satellite designed, integrated and operated by Brazil. I congratulate the Brazilian team for this achievement. The satellite is in very good health and I congratulate all for this and compliment the entire Brazilian team," Sivan said after the launch event.Amazonia-1, an optical earth observation satellite, which was launched at 10:24 am on Sunday, successfully separated from the fourth stage of PSLVC51 and injected into orbit, ISRO informed in a tweet.Marcos Ceaser Pontes, Minister for Scie...