NASA's Ingenuity helicopter has already earned its place in history by being first man-made craft to fly successfully on the surface of another planet. Till now we only knew this through news shared by NASA which got confirmation of the flight from the telemetry data. But now, Perseverance rover has recorded the magnificent flight of the helicopter. And NASA has shared the video with everyone online.

Recently, Ingenuity made its 13th flight. In the videos released by NASA, the rotocraft can be seen to fly nearly 700 feet horizontally at a height of about 26 feet from the martian surface. Perseverance used its Mastcam-Z to record the flight from 1000 feet away. The flight took place on September 4.&nbsp;

Check out the video

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NASA scientists recently made changes in Ingenuity's program to make it move a little faster. This was done to compensate for Martian atmosphere which is thinner than that of Earth. Ingenuity's navigation system is automated and uses Artificial Intelligence to make adjustment with respect to variables like wind speed and pressure changes.

Ingenuity took images of some interesting rock structures during its 13th flight. Ingenuity helicopter and its flight was initially meant to be just a technology demonstration. But after its brilliant success, its mission has been expanded to include study of martian rock deposits.

NASA's Ingenuity helicopter has already earned its place in history by being first man-made craft to fly successfully on the surface of another planet. Till now we only knew this through news shared by NASA which got confirmation of the flight from the telemetry data.

NASA's Ingenuity helicopter has already earned its place in history by being first man-made craft to fly successfully on the surface of another planet. Till now we only knew this through news shared by NASA which got confirmation of the flight from the telemetry data. But now, Perseverance rover has recorded the magnificent flight of the helicopter. And NASA has shared the video with everyone online. Recently, Ingenuity made its 13th flight. In the videos released by NASA, the rotocraft can be seen to fly nearly 700 feet horizontally at a height of about 26 feet from the martian surface. Perseverance used its Mastcam-Z to record the flight from 1000 feet away. The flight took place on September 4. Check out the video × NASA scientists recently made changes in Ingenuity's program to make it move a little faster. This was done to compensate for Martian atmosphere which is thinner than that of Earth. Ingenuity's navigation system is automated and uses Artificial Intelligence to make adjustment with respect to variables like wind speed and pressure changes. Ingenuity took images of some interesting rock structures during its 13th flight. Ingenuity helicopter and its flight was initially meant to be just a technology demonstration. But after its brilliant success, its mission has been expanded to include study of martian rock deposits.

NASA shares Perseverance rover's breathtaking recording of Ingenuity flight on Mars

US envoy for Iran warned on Friday that Iran was approaching point of no return over revival of 2015 nuclear deal after Tehran boosted stocks of enriched uranium. Talks to revive Iran nuclear deal are to restart on November 29 in Vienna.

Robert Malley, US envoy for Iran said the country was making it "impossible" to gain any benefit from resuming the agreement.

The International Atomic Energy Agency (IAEA) said this week that Iran had again increased stockpile of highly enriched uranium.

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"The time will come if Iran continues at this pace with the advancements they've made, (it) will make it impossible even if we were going to go back to the JCPOA to recapture the benefits," Malley told the Manama Dialogue conference in Bahrain.

The Joint Comprehensive Plan of Action was the agreement struck in 2015 under which Iran agreed to clear limits on its nuclear activities in return for an easing of sanctions.

"Iran's advances are spreading alarm across the region... that's what's making the clock tick faster and making all of us say that the time is short for a return to the JCPOA," Malley said.

Also Read | <a href="https://www.wionews.com/world/iran-has-again-boosted-uranium-stockpile-iaea-reports-430382">Iran has again boosted uranium stockpile, IAEA reports</a>

On Wednesday, the US and its Gulf Arab allies accused Iran of causing a nuclear crisis and destabilising the region with its ballistic missile programme and support for armed militias.

Malley said the US shared a "commonality of purpose" with rivals Russia and China "because we want to avoid that crisis, all of us, the crisis that would be sparked if Iran continues on its current path".&nbsp;

"And I want to be clear, because there's no ambiguity about what they seem to be doing now, which is to drag their feet on the nuclear talks and accelerate the progress in their nuclear programme."

The US envoy said he was not encouraged by the statements from the new Iranian government of President Ebrahim Raisi, which earlier on Friday accused Washington of conducting a "propaganda campaign" against the country.

"If they stick to their public pronouncements, unfortunately we're not headed in the right direction... but let's wait to see what happens," he said, pledging that President Joe Biden would honour a revived deal.

"Our intent, our clear intent in coming back into the deal is to stick with the deal because we don't want to see a nuclear crisis," Malley said.

Iran had reacted angrily to a US pledge to take its Gulf Arab allies' interests into account in any revived nuclear deal with their arch rival.

"The US government, which is responsible for the current situation after withdrawing from the nuclear deal, is once again trying to provoke a crisis," foreign ministry spokesman Saeed Khatibzadeh charged.

(With inputs from agencies) 
&nbsp;

US envoy for Iran warned on Friday that Iran was approaching point of no return over revival of 2015 nuclear deal after Tehran boosted stocks of enriched uranium.

US envoy for Iran warned on Friday that Iran was approaching point of no return over revival of 2015 nuclear deal after Tehran boosted stocks of enriched uranium. Talks to revive Iran nuclear deal are to restart on November 29 in Vienna. Robert Malley, US envoy for Iran said the country was making it "impossible" to gain any benefit from resuming the agreement. The International Atomic Energy Agency (IAEA) said this week that Iran had again increased stockpile of highly enriched uranium. × "The time will come if Iran continues at this pace with the advancements they've made, (it) will make it impossible even if we were going to go back to the JCPOA to recapture the benefits," Malley told the Manama Dialogue conference in Bahrain. The Joint Comprehensive Plan of Action was the agreement struck in 2015 under which Iran agreed to clear limits on its nuclear activities in return for an easing of sanctions. "Iran's advances are spreading alarm across the region... that's what's making the clock tick faster and making all of us say that the time is short for a return to the JCPOA," Malley said. Also Read | Iran has again boosted uranium stockpile, IAEA reports On Wednesday, the US and its Gulf Arab allies accused Iran of causing a nuclear crisis and destabilising the region with its ballistic missile programme and support for armed militias. Malley said the US shared a "commonality of purpose" with rivals Russia and China "because we want to avoid that crisis, all of us, the crisis that would be sparked if Iran continues on its current path". "And I want to be clear, because there's no ambiguity about what they seem to be doing now, which is to drag their feet on the nuclear talks and accelerate the progress in their nuclear programme." The US envoy said he was not encouraged by the statements from the new Iranian government of President Ebrahim Raisi, which earlier on Friday accused Washington of conducting a "propaganda campaign" against the country. "If they stick to their public pronouncements, unfortunately we're not headed in the right direction... but let's wait to see what happens," he said, pledging that President Joe Biden would honour a revived deal. "Our intent, our clear intent in coming back into the deal is to stick with the deal because we don't want to see a nuclear crisis," Malley said. Iran had reacted angrily to a US pledge to take its Gulf Arab allies' interests into account in any revived nuclear deal with their arch rival. "The US government, which is responsible for the current situation after withdrawing from the nuclear deal, is once again trying to provoke a crisis," foreign ministry spokesman Saeed Khatibzadeh charged. (With inputs from agencies)

'Time is short' for Iran to return to nuclear deal: US envoy

Due to movies and other popular media, when we say 'dinosaur', an image of a scary, huge animal brandishing razor-sharp teeth pops into mind. This image is fitting to the fact that dinosaurs ruled every food chain and food web on Earth millions of years ago.

But a new discovery has shown that rulers of pre-humanity Earth didn't have to be oversized lizards all the time. A new species of dinosaur has been found. And guess what? It is almost the size of a dog, and had no teeth. And funny thing is, they were carnivores, that is, they ate meat.

The new dinosaur species has been found in Brazil. These tiny dinos lived 70 million years ago. Each member of this species was about three feet long and two and a half feet tall. The species has been classified as a therapod. Members of this group are believed to be carnivores. The dinosaurs had a beak-like mouth with no teeth.

Also Read | <a href="https://www.wionews.com/world/fixing-fossil-mix-up-scientists-unearth-longest-dinosaur-that-ever-lived-on-earth-429803">Fixing fossil mix-up, scientists unearth longest dinosaur that ever lived on Earth</a>

This dinosaur has been named Berthasaura leopoldinae. Its remains were found in southern Brazilian state of Parana.

A unique way has been adopted to name this unique dinosaur. Its scientific name has been made up of names of two people. Bertha Lutz and Maria Leopoldina.

Berta Lutz was a revered Brazilian scientist and feminist while Maria Leopoldina was Brazil's 19th-century empress who was a patron of the sciences.

Due to movies and other popular media, when we say 'dinosaur', an image of a scary, huge animal brandishing razor-sharp teeth pops into mind. This image is fitting to the fact that dinosaurs ruled every food chain and food web on Earth millions of years ago.

Due to movies and other popular media, when we say 'dinosaur', an image of a scary, huge animal brandishing razor-sharp teeth pops into mind. This image is fitting to the fact that dinosaurs ruled every food chain and food web on Earth millions of years ago. But a new discovery has shown that rulers of pre-humanity Earth didn't have to be oversized lizards all the time. A new species of dinosaur has been found. And guess what? It is almost the size of a dog, and had no teeth. And funny thing is, they were carnivores, that is, they ate meat. The new dinosaur species has been found in Brazil. These tiny dinos lived 70 million years ago. Each member of this species was about three feet long and two and a half feet tall. The species has been classified as a therapod. Members of this group are believed to be carnivores. The dinosaurs had a beak-like mouth with no teeth. Also Read | Fixing fossil mix-up, scientists unearth longest dinosaur that ever lived on Earth This dinosaur has been named Berthasaura leopoldinae. Its remains were found in southern Brazilian state of Parana. A unique way has been adopted to name this unique dinosaur. Its scientific name has been made up of names of two people. Bertha Lutz and Maria Leopoldina. Berta Lutz was a revered Brazilian scientist and feminist while Maria Leopoldina was Brazil's 19th-century empress who was a patron of the sciences.

Dog-sized dinosaur with no teeth has been found in Brazil

The UN nuclear watchdog on Wednesday reported that Iran has again boosted its stock of highly enriched uranium, just days before talks are set to resume seeking to revive the 2015 nuclear deal.

In a report seen by AFP, the International Atomic Energy Agency (IAEA) estimated Iran's stockpile of highly enriched uranium at 2,489.7 kilograms -- many times in excess of the limit laid down in the 2015 agreement.

The total amount now includes 113.8 kg enriched to 20 percent, up from 84.3 kg in September, and 17.7 kg enriched up to 60 percent, up from 10 kg, the report said.

The document will be discussed during the IAEA's Board of Governors, scheduled for next week with diplomats preparing to restart talks in Vienna on November 29 over reviving the moribund 2015 nuclear deal between Iran and world powers.

The remaining parties to the deal -- Britain, China, France, Germany and Russia -- will join the talks while the United States will participate indirectly.

Iran's acting head of mission to UN agencies in Vienna, Mohammad Reza Ghaebi, said the new report "shows that the IAEA has continued its verification and surveillance activities regarding Tehran's engagements."

Quoted by Iranian media, he said that talks were ongoing to "solve some issues between the two parties" and called on IAEA member states to refrain from "making hasty or politically motivated comments".

A spokesman for Iran's atomic agency told Fars news agency on Wednesday that IAEA chief Rafael Grossi would arrive in Tehran on Monday.&nbsp;

Grossi will meet Foreign Minister Hossein Amir-Abdollahian and Iranian Atomic Energy Organization chief Mohammad Eslami on Tuesday, the spokesman added.

- 'Astonishing' lack of contact -

On November 12, Grossi described as "astonishing" his lack of contact with the new Iranian government of President Ebrahim Raisi.

He said he had hoped to meet Iranian officials ahead of the next meeting of the IAEA's Board of Governors, scheduled for next week.

During Grossi's last visit to Tehran in September, he clinched a deal on access to monitoring equipment at Iran's nuclear facilities.

But days later, the IAEA complained that it was prevented from "indispensable" access to a unit at the TESA complex in the city of Karaj, near Tehran, in violation of the September deal.

Iran's ambassador to the IAEA rejected the charge, however, tweeting that "equipment related to this complex are not included for servicing", referring to IAEA work on its monitoring equipment.

The IAEA on Wednesday also "categorically" denied its cameras had played a part in an unclaimed June attack on the TESA complex.

Tehran -- which has blamed its arch-enemy Israel -- told the agency it was investigating the possibility, the IAEA said in its report.

'Excessively invasive'

The agreement that Grossi reached in September was an extension of a deal struck in February after Iran limited some of the IAEA's activities in the country.

Wednesday's report warned, however, that the repeated prolongation of the agreement was "becoming a significant challenge to the Agency's ability to restore... continuity of knowledge" about Iran's nuclear activities.

It warned that establishing clarity on activities in Karaj "has been widely recognised as essential in relation to a return to the JCPOA", referring to the 2015 nuclear deal.

The Vienna talks later this month will discuss the possibility of reviving that agreement, which offered Tehran relief from sanctions in exchange for major curbs on its nuclear activities.

The United States unilaterally pulled out of the accord in 2018 under the administration of President Donald Trump.

In response, Iran began in 2019 walking back on its commitments under the nuclear deal, notably increasing its uranium enrichment.&nbsp;

In a separate report also issued on Wednesday, the IAEA said there had been virtually no progress in resolving several questions the agency has about the previous presence of nuclear material at undeclared sites in the country.

That report also noted that Grossi was "concerned by the incidences of Agency inspectors being subjected to excessively invasive physical searches by security officials at nuclear facilities" and called on Iran to "take immediate steps to rectify the situation".

The UN nuclear watchdog on Wednesday reported that Iran has again boosted its stock of highly enriched uranium, just days before talks are set to resume seeking to revive the 2015 nuclear deal.

The UN nuclear watchdog on Wednesday reported that Iran has again boosted its stock of highly enriched uranium, just days before talks are set to resume seeking to revive the 2015 nuclear deal. In a report seen by AFP, the International Atomic Energy Agency (IAEA) estimated Iran's stockpile of highly enriched uranium at 2,489.7 kilograms -- many times in excess of the limit laid down in the 2015 agreement. The total amount now includes 113.8 kg enriched to 20 percent, up from 84.3 kg in September, and 17.7 kg enriched up to 60 percent, up from 10 kg, the report said. The document will be discussed during the IAEA's Board of Governors, scheduled for next week with diplomats preparing to restart talks in Vienna on November 29 over reviving the moribund 2015 nuclear deal between Iran and world powers. The remaining parties to the deal -- Britain, China, France, Germany and Russia -- will join the talks while the United States will participate indirectly. Iran's acting head of mission to UN agencies in Vienna, Mohammad Reza Ghaebi, said the new report "shows that the IAEA has continued its verification and surveillance activities regarding Tehran's engagements." Quoted by Iranian media, he said that talks were ongoing to "solve some issues between the two parties" and called on IAEA member states to refrain from "making hasty or politically motivated comments". A spokesman for Iran's atomic agency told Fars news agency on Wednesday that IAEA chief Rafael Grossi would arrive in Tehran on Monday. Grossi will meet Foreign Minister Hossein Amir-Abdollahian and Iranian Atomic Energy Organization chief Mohammad Eslami on Tuesday, the spokesman added. - 'Astonishing' lack of contact - On November 12, Grossi described as "astonishing" his lack of contact with the new Iranian government of President Ebrahim Raisi. He said he had hoped to meet Iranian officials ahead of the next meeting of the IAEA's Board of Governors, scheduled for next week. During Grossi's last visit to Tehran in September, he clinched a deal on access to monitoring equipment at Iran's nuclear facilities. But days later, the IAEA complained that it was prevented from "indispensable" access to a unit at the TESA complex in the city of Karaj, near Tehran, in violation of the September deal. Iran's ambassador to the IAEA rejected the charge, however, tweeting that "equipment related to this complex are not included for servicing", referring to IAEA work on its monitoring equipment. The IAEA on Wednesday also "categorically" denied its cameras had played a part in an unclaimed June attack on the TESA complex. Tehran -- which has blamed its arch-enemy Israel -- told the agency it was investigating the possibility, the IAEA said in its report. 'Excessively invasive' The agreement that Grossi reached in September was an extension of a deal struck in February after Iran limited some of the IAEA's activities in the country. Wednesday's report warned, however, that the repeated prolongation of the agreement was "becoming a significant challenge to the Agency's ability to restore... continuity of knowledge" about Iran's nuclear activities. It warned that establishing clarity on activities in Karaj "has been widely recognised as essential in relation to a return to the JCPOA", referring to the 2015 nuclear deal. The Vienna talks later this month will discuss the possibility of reviving that agreement, which offered Tehran relief from sanctions in exchange for major curbs on its nuclear activities. The United States unilaterally pulled out of the accord in 2018 under the administration of President Donald Trump. In response, Iran began in 2019 walking back on its commitments under the nuclear deal, notably increasing its uranium enrichment. In a separate report also issued on Wednesday, the IAEA said there had been virtually no progress in resolving several questions the agency has about the previous presence of nuclear material at undeclared sites in the country. That report also noted that Grossi was "concerned by the incidences of Agency inspectors being subjected to excessively invasive physical searches by security officials at nuclear facilities" and called on Iran to "take immediate steps to rectify the situation".

Iran has again boosted uranium stockpile, IAEA reports

A popular pro-democracy clothing chain in Hong Kong said on Thursday that it will shut stores by end of 2022 citing reluctance of landlords to renew leases. Complaints leading to investigations from various government departments have also been mentioned.

Chickeeduck, Originally a children's clothes chain, became famous for selling protest-themed items. These included shirts that made funny puns of pro-democracy slogans.

It gained popularity among democracy activists last year when owner Herbert Chow refused a request from his landlord to remove a statue of a protester in helmet, gas mask and goggles. The shop moved to a new location where the statue is still up.

Also Read | <a href="https://www.wionews.com/world/hong-kong-authorities-begin-hunting-wild-boars-amid-public-safety-fears-430307">Hong Kong: Authorities begin hunting wild boars amid public safety fears</a>

In early May, national security police cordoned off the area of a Chickeeduck shop and searched its premises with a warrant, with police saying they responded to complains from the public. This month, authorities ordered one of the shops to remove a bronze statue of Nobel Peace Prize winner Liu Xiaobo outside the entrance, saying it obstructed the street.

"Chickeeduck has been experiencing disturbance from evil forces in the past 18 months," Chow said in a statement.

"We have never given up on voicing out against injustice and will never consider backing off. However, the feasibility of the business going forward is now in question and we are thinking of wiser and more sustainable strategies for the company."

The government's Security Bureau and the Hong Kong police did not immediately respond to requests for comment.

Also Read | <a href="https://www.wionews.com/world/tiananmen-statue-sculptor-requests-immunity-from-hong-kong-security-law-428835">Tiananmen statue sculptor requests immunity from Hong Kong security law</a>

Chow did not elaborate on the future strategy after his 32-year-old company's "exit" from the Hong Kong market, but said the firm planned to continue as a "brand for Hong Kongers."

Chickeeduck has sold shirts that read "Liberate Sausages, Vegetables of our time" and "Five meatballs, no sauce left" – puns echoing slogans of mass 2019 demonstrations: "Liberate Hong Kong, Revolution of our time" and "Five demands, not one less."

The "Liberate Hong Kong" slogan was "capable of inciting secession," a major offence under the city's national security law imposed by Beijing in 2020, a judge ruled earlier this year.

(With inputs from agencies)

A popular pro-democracy clothing chain in Hong Kong said on Thursday that it will shut stores by end of 2022 citing reluctance of landlords to renew leases. Complaints leading to investigations from various government departments have also been mentioned.

A popular pro-democracy clothing chain in Hong Kong said on Thursday that it will shut stores by end of 2022 citing reluctance of landlords to renew leases. Complaints leading to investigations from various government departments have also been mentioned. Chickeeduck, Originally a children's clothes chain, became famous for selling protest-themed items. These included shirts that made funny puns of pro-democracy slogans. It gained popularity among democracy activists last year when owner Herbert Chow refused a request from his landlord to remove a statue of a protester in helmet, gas mask and goggles. The shop moved to a new location where the statue is still up. Also Read | Hong Kong: Authorities begin hunting wild boars amid public safety fears In early May, national security police cordoned off the area of a Chickeeduck shop and searched its premises with a warrant, with police saying they responded to complains from the public. This month, authorities ordered one of the shops to remove a bronze statue of Nobel Peace Prize winner Liu Xiaobo outside the entrance, saying it obstructed the street. "Chickeeduck has been experiencing disturbance from evil forces in the past 18 months," Chow said in a statement. "We have never given up on voicing out against injustice and will never consider backing off. However, the feasibility of the business going forward is now in question and we are thinking of wiser and more sustainable strategies for the company." The government's Security Bureau and the Hong Kong police did not immediately respond to requests for comment. Also Read | Tiananmen statue sculptor requests immunity from Hong Kong security law Chow did not elaborate on the future strategy after his 32-year-old company's "exit" from the Hong Kong market, but said the firm planned to continue as a "brand for Hong Kongers." Chickeeduck has sold shirts that read "Liberate Sausages, Vegetables of our time" and "Five meatballs, no sauce left" – puns echoing slogans of mass 2019 demonstrations: "Liberate Hong Kong, Revolution of our time" and "Five demands, not one less." The "Liberate Hong Kong" slogan was "capable of inciting secession," a major offence under the city's national security law imposed by Beijing in 2020, a judge ruled earlier this year. (With inputs from agencies)

Hong Kong's pro-democracy clothes shop to shut due to 'evil forces'

The exoplanet search and study group at the Ahmedabad-based Physical Research Laboratory (PRL), has discovered a new exoplanet orbiting too close to an evolved or aging star with a mass of 1.5 times that of Sun and located 725 light years away, according to Indian Space Research Organisation.

This discovery was made using PRL Advanced Radial-velocity Abu-sky Search (PARAS) optical fiber-fed spectrograph, the first of its kind in India, on the 1.2 metre Telescope of PRL at its Mt. Abu Observatory, the Bengaluru-headquartered space agency said in a statement. Using PARAS, which has the capability to measure mass of an exoplanet, the exoplanet's mass is found to be 70 per cent and size about 1.4 times that of the Jupiter, it said.&nbsp;

These measurements were carried out between December 2020 and March 2021. Further follow-up measurements were also obtained from TCES spectrograph from Germany in April 2021, and also independent photometric observations from the PRL's 43-cm telescope at Mt. Abu.&nbsp;

The star is known as HD 82139 as per the Henry Draper catalogue and TOI 1789 as per the TESS catalogue. Hence, the planet is known as TOI 1789b or HD 82139b as per the IAU nomenclature.

The discovery team led by Prof. Abhijit Chakraborty, includes students and team members, and international collaborators from Europe and the US. This newly discovered star-planet system is very unique -- the planet orbits the host star in just 3.2 days, thus placing it very-very close to the star at a distance of 0.05 AU (roughly one tenth the distance between Sun and Mercury).There are less than 10 such close-in systems known among the zoo of exoplanets known so far.

Because of the close proximity of the planet to its host star, it is extremely heated with a surface temperature reaching up to 2000 K, and hence an inflated radius, making it one of the lowest density planets known (density of 0.31 gram per cc), it was noted.

Such close-in exoplanets around stars (with distance less than 0.1 AU) with masses between 0.25 to a few Jupiter mass are called "Hot-Jupiters". "The detection of such system enhances our understanding of various mechanisms responsible for inflation in hot-Jupiters and the formation and evolution of planetary systems around evolving and aging stars", ISRO said. This is the second exoplanet discovered by PRL (an autonomous unit of the Department of Space) scientists using PARAS at 1.2 m Mt. Abu telescope; the first exoplanet K2-236b, a sub-Saturn size at 600 light-years away, was discovered in 2018.&nbsp;

The exoplanet search and study group at the Ahmedabad-based Physical Research Laboratory (PRL), has discovered a new exoplanet orbiting too close to an evolved or aging star with a mass of 1.

The exoplanet search and study group at the Ahmedabad-based Physical Research Laboratory (PRL), has discovered a new exoplanet orbiting too close to an evolved or aging star with a mass of 1.5 times that of Sun and located 725 light years away, according to Indian Space Research Organisation. This discovery was made using PRL Advanced Radial-velocity Abu-sky Search (PARAS) optical fiber-fed spectrograph, the first of its kind in India, on the 1.2 metre Telescope of PRL at its Mt. Abu Observatory, the Bengaluru-headquartered space agency said in a statement. Using PARAS, which has the capability to measure mass of an exoplanet, the exoplanet's mass is found to be 70 per cent and size about 1.4 times that of the Jupiter, it said. These measurements were carried out between December 2020 and March 2021. Further follow-up measurements were also obtained from TCES spectrograph from Germany in April 2021, and also independent photometric observations from the PRL's 43-cm telescope at Mt. Abu. The star is known as HD 82139 as per the Henry Draper catalogue and TOI 1789 as per the TESS catalogue. Hence, the planet is known as TOI 1789b or HD 82139b as per the IAU nomenclature. The discovery team led by Prof. Abhijit Chakraborty, includes students and team members, and international collaborators from Europe and the US. This newly discovered star-planet system is very unique -- the planet orbits the host star in just 3.2 days, thus placing it very-very close to the star at a distance of 0.05 AU (roughly one tenth the distance between Sun and Mercury).There are less than 10 such close-in systems known among the zoo of exoplanets known so far. Because of the close proximity of the planet to its host star, it is extremely heated with a surface temperature reaching up to 2000 K, and hence an inflated radius, making it one of the lowest density planets known (density of 0.31 gram per cc), it was noted. Such close-in exoplanets around stars (with distance less than 0.1 AU) with masses between 0.25 to a few Jupiter mass are called "Hot-Jupiters". "The detection of such system enhances our understanding of various mechanisms responsible for inflation in hot-Jupiters and the formation and evolution of planetary systems around evolving and aging stars", ISRO said. This is the second exoplanet discovered by PRL (an autonomous unit of the Department of Space) scientists using PARAS at 1.2 m Mt. Abu telescope; the first exoplanet K2-236b, a sub-Saturn size at 600 light-years away, was discovered in 2018.

Indian scientists discover star-planet bigger than Jupiter

Pakistan opposition parties on Tuesday slammed Imran Khan-led Tehreek-e-Insaf (PTI) government for convening a joint session of parliament without holding talks to evolve consensus on electoral reforms.

Senators belonging to the joint opposition staged a walkout from the house as a mark of protest against Khan`s government for buying time in the name of efforts to build consensus to win back the support of its estranged allies (PML-Q) of having plans to bulldoze all controversial bills in the special sitting of parliament, reported Dawn.

Pakistan Muslim League-Quaid (PML-Q), a key ally of the PTI at the Centre and in Punjab and decided to break up and launch its own campaign for the next general elections after rising tensions between the two coalition partners earlier.

Raising the issue in the house, Leader of the Opposition in the Senate Yousuf Raza Gilani said the convening of the joint session to bulldoze legislation at a time when the opposition had agreed for talks clearly manifested ill-will, reported Dawn.

"We expressed willingness to hold talks for the greater cause, democracy, the rule of law and Constitution and for the betterment of the country. But they are playing to the gallery...This is a mala fide intention [of the government] because they were short of required numbers to get all the bills passed," he said.

Gilani said the government only used the ploy of talks to gain more time to woo its allies who earlier had reservations over the bills, reported Dawn.Pakistan Peoples Party`s (PPP) parliamentary leader in the Senate Sherry Rehman said that the opposition wanted a consensus on the controversial bills to give a positive message to the public.She said the opposition also formed a joint steering committee to hammer out a joint strategy and wanted to find a solution within parliament.

She rejected the impression an adviser to the prime minister tried to give, saying that the opposition held no secret dialogue with the government, reported Dawn.

"Why the committee was announced if the government wanted to bulldoze the 21 bills already passed by the National Assembly and other ordinances in the joint sitting?" she asked.

Earlier, the federal government had postponed the joint sitting of parliament, scheduled for November 11, saying that it wanted to develop a consensus with the opposition on the controversial bills, including the electoral reforms bills providing for use of electronic voting machines (EVMs) and introduction of I-voting system for overseas Pakistanis in the next general elections.

A day after the joint opposition sought a written assurance from the government for holding negotiations on the bills, National Assembly Speaker Asad Qaiser had on Friday written a letter to Leader of the Opposition in the National Assembly Shehbaz Sharif for initiating talks.He had also formed a committee on legislative business with consensus from the government and opposition. But without any talks between the government and the opposition, the joint session has been convened again on November 17 (today), reported Dawn.

Pakistan opposition parties on Tuesday slammed Imran Khan-led Tehreek-e-Insaf (PTI) government for convening a joint session of parliament without holding talks to evolve consensus on electoral reforms.

Pakistan opposition parties on Tuesday slammed Imran Khan-led Tehreek-e-Insaf (PTI) government for convening a joint session of parliament without holding talks to evolve consensus on electoral reforms. Senators belonging to the joint opposition staged a walkout from the house as a mark of protest against Khan`s government for buying time in the name of efforts to build consensus to win back the support of its estranged allies (PML-Q) of having plans to bulldoze all controversial bills in the special sitting of parliament, reported Dawn. Pakistan Muslim League-Quaid (PML-Q), a key ally of the PTI at the Centre and in Punjab and decided to break up and launch its own campaign for the next general elections after rising tensions between the two coalition partners earlier. Raising the issue in the house, Leader of the Opposition in the Senate Yousuf Raza Gilani said the convening of the joint session to bulldoze legislation at a time when the opposition had agreed for talks clearly manifested ill-will, reported Dawn. "We expressed willingness to hold talks for the greater cause, democracy, the rule of law and Constitution and for the betterment of the country. But they are playing to the gallery...This is a mala fide intention [of the government] because they were short of required numbers to get all the bills passed," he said. Gilani said the government only used the ploy of talks to gain more time to woo its allies who earlier had reservations over the bills, reported Dawn.Pakistan Peoples Party`s (PPP) parliamentary leader in the Senate Sherry Rehman said that the opposition wanted a consensus on the controversial bills to give a positive message to the public.She said the opposition also formed a joint steering committee to hammer out a joint strategy and wanted to find a solution within parliament. She rejected the impression an adviser to the prime minister tried to give, saying that the opposition held no secret dialogue with the government, reported Dawn. "Why the committee was announced if the government wanted to bulldoze the 21 bills already passed by the National Assembly and other ordinances in the joint sitting?" she asked. Earlier, the federal government had postponed the joint sitting of parliament, scheduled for November 11, saying that it wanted to develop a consensus with the opposition on the controversial bills, including the electoral reforms bills providing for use of electronic voting machines (EVMs) and introduction of I-voting system for overseas Pakistanis in the next general elections. A day after the joint opposition sought a written assurance from the government for holding negotiations on the bills, National Assembly Speaker Asad Qaiser had on Friday written a letter to Leader of the Opposition in the National Assembly Shehbaz Sharif for initiating talks.He had also formed a committee on legislative business with consensus from the government and opposition. But without any talks between the government and the opposition, the joint session has been convened again on November 17 (today), reported Dawn.

Pak opposition slams Imran khan govt for convening joint session without consensus on electoral reforms

CEO turnover spiked in the first half of 2021, as companies tapped new talent to navigate the aftermath of the COVID-19 pandemic and stressed-out chief executives sought a career change, a study from recruiting firm Heidrick &amp; Struggles found.

The findings illustrate how CEOs are not immune to the exhaustion that has swept hundreds of millions of workers worldwide since the onset of the pandemic and has pushed many to consider a new job or lifestyle in a wave dubbed "The Great Resignation."

"Our belief is that it will only accelerate going into next year as people have delayed their retirements," said Jeff Sanders, co-managing partner of Heidrick's global CEO and board practice.

There were 103 CEO appointments in the first half of 2021 out of 1,095 companies in 24 regions that Heidrick studied, including the United States, China and some European countries.

Six months prior, in the second half of 2020, 49 companies changed CEOs, according to the study.

Most companies kept their leaders in place last year as they closed ranks to deal with the challenges of the pandemic. But as it receded with the help of vaccines, companies felt they were stable enough to find a new leader, Sanders said.

"Many CEOs didn't have to travel as much," which helped them preserve their energy, Sanders said. But communicating "virtually" in a new medium was "exhausting," he said.

The reluctance of many boards to meet CEO candidates physically or place risky bets on outsiders while the pandemic lingers favored internal applicants, the study found. Nearly two-thirds of new CEOs were internal candidates, up from just a little over half during the same period in 2020.

Women made up 13% of the new CEOs in the first half of this year, up from 6% in the prior period in the regions the report studied.

Yet the churn did not lead to big strides in diversity, according to the study. It found that 3% of Fortune 100 CEOs are Black, 4% are Hispanic or Latino, 4% are Asian and 1% are Middle Eastern or North African, less than their share of the U.S. population.

"I don't think (CEO diversity) is where it needs to be," Sanders said.

CEO turnover spiked in the first half of 2021, as companies tapped new talent to navigate the aftermath of the COVID-19 pandemic and stressed-out chief executives sought a career change, a study from recruiting firm Heidrick & Struggles found.

CEO turnover spiked in the first half of 2021, as companies tapped new talent to navigate the aftermath of the COVID-19 pandemic and stressed-out chief executives sought a career change, a study from recruiting firm Heidrick & Struggles found. The findings illustrate how CEOs are not immune to the exhaustion that has swept hundreds of millions of workers worldwide since the onset of the pandemic and has pushed many to consider a new job or lifestyle in a wave dubbed "The Great Resignation." "Our belief is that it will only accelerate going into next year as people have delayed their retirements," said Jeff Sanders, co-managing partner of Heidrick's global CEO and board practice. There were 103 CEO appointments in the first half of 2021 out of 1,095 companies in 24 regions that Heidrick studied, including the United States, China and some European countries. Six months prior, in the second half of 2020, 49 companies changed CEOs, according to the study. Most companies kept their leaders in place last year as they closed ranks to deal with the challenges of the pandemic. But as it receded with the help of vaccines, companies felt they were stable enough to find a new leader, Sanders said. "Many CEOs didn't have to travel as much," which helped them preserve their energy, Sanders said. But communicating "virtually" in a new medium was "exhausting," he said. The reluctance of many boards to meet CEO candidates physically or place risky bets on outsiders while the pandemic lingers favored internal applicants, the study found. Nearly two-thirds of new CEOs were internal candidates, up from just a little over half during the same period in 2020. Women made up 13% of the new CEOs in the first half of this year, up from 6% in the prior period in the regions the report studied. Yet the churn did not lead to big strides in diversity, according to the study. It found that 3% of Fortune 100 CEOs are Black, 4% are Hispanic or Latino, 4% are Asian and 1% are Middle Eastern or North African, less than their share of the U.S. population. "I don't think (CEO diversity) is where it needs to be," Sanders said.

More chief executives join the 'Great Resignation'

Elon Musk said Wednesday that the Starship developed by his company SpaceX and selected by NASA for the Americans' return to the Moon would attempt its first orbital flight early next year.

"We'll do a bunch of tests in December and hopefully launch in January," Musk said in a talk for the National Academies Space Studies Board.

"There's a lot of risk associated with this first launch," he said. "So I would not say that it is likely to be successful, but I think we will make a lot of progress."

Starship has already made several sub-orbital flights. After multiple tests that ended in impressive explosions, SpaceX finally succeeded in landing the spacecraft, which is designed to be reusable.&nbsp;

For the upcoming orbital test, it will be decked out with an ultra-powerful first stage dubbed Super Heavy.&nbsp;

Authorization from the US Federal Aviation Administration is expected "around the end of the year," Musk said.&nbsp; 
The billionaire entrepreneur -- who also founded electric carmaker Tesla -- said he hoped to have completed the launch pad and launch tower this month, before carrying out a series of checks.&nbsp;

After the proposed January test launch, he aims for a dozen additional launches or more through the end of 2022.

He said Starship would be operational to transport loads outside the framework of tests "in 2023."&nbsp; 
US space agency NASA is betting on Starship to become the lander used as part of its Artemis program to take humans back to the Moon, in 2025 at the earliest.&nbsp;

But the SpaceX chief has even bigger dreams for this "biggest rocket ever designed."&nbsp;

"What we're aiming to develop with starship is a generalized means of transporting large amounts of mass or people... anywhere in the solar system," he said.

In his hour-long speech broadcast live on YouTube, the founder of SpaceX hammered home his ambitious vision:&nbsp; 
"In order for life to become multi-planetary, we'll need maybe 1,000 ships."

The overarching goal of SpaceX "has been to advance space technology such that humanity can become a multi-planetary species and ultimately a spacefaring civilization," he said.

"Long term it's essential for preserving the light of consciousness," because, he said, ultimately something will happen to Earth, either a natural or man-made disaster, to end civilization on the planet.

Elon Musk said Wednesday that the Starship developed by his company SpaceX and selected by NASA for the Americans' return to the Moon would attempt its first orbital flight early next year.

Elon Musk said Wednesday that the Starship developed by his company SpaceX and selected by NASA for the Americans' return to the Moon would attempt its first orbital flight early next year. "We'll do a bunch of tests in December and hopefully launch in January," Musk said in a talk for the National Academies Space Studies Board. "There's a lot of risk associated with this first launch," he said. "So I would not say that it is likely to be successful, but I think we will make a lot of progress." Starship has already made several sub-orbital flights. After multiple tests that ended in impressive explosions, SpaceX finally succeeded in landing the spacecraft, which is designed to be reusable. For the upcoming orbital test, it will be decked out with an ultra-powerful first stage dubbed Super Heavy. Authorization from the US Federal Aviation Administration is expected "around the end of the year," Musk said. The billionaire entrepreneur -- who also founded electric carmaker Tesla -- said he hoped to have completed the launch pad and launch tower this month, before carrying out a series of checks. After the proposed January test launch, he aims for a dozen additional launches or more through the end of 2022. He said Starship would be operational to transport loads outside the framework of tests "in 2023." US space agency NASA is betting on Starship to become the lander used as part of its Artemis program to take humans back to the Moon, in 2025 at the earliest. But the SpaceX chief has even bigger dreams for this "biggest rocket ever designed." "What we're aiming to develop with starship is a generalized means of transporting large amounts of mass or people... anywhere in the solar system," he said. In his hour-long speech broadcast live on YouTube, the founder of SpaceX hammered home his ambitious vision: "In order for life to become multi-planetary, we'll need maybe 1,000 ships." The overarching goal of SpaceX "has been to advance space technology such that humanity can become a multi-planetary species and ultimately a spacefaring civilization," he said. "Long term it's essential for preserving the light of consciousness," because, he said, ultimately something will happen to Earth, either a natural or man-made disaster, to end civilization on the planet.

Musk says first orbital flight for Moon rocket in early 2022

With less than two months to go before Christmas, Germany is preparing for tighter restrictions and stricter vaccine rules as the country faces a steep rise in corona infections.

On Thursday (November 18) Germany's parliament voted in favour of a new Infection Protection Act, that will look for approval at the federal state level on Friday.

Among rules being touted are that Germany should demand proof of vaccination or recent recovery from COVID-19 for all indoor leisure activities, and require vaccinated people to also present a negative test for risky environments.

Signs were already popping up in Berlin restaurants and cafes introducing the so-called 2G rule where it is no longer enough to bring a negative test.

"When we were given the option of 2G or 3G (3G is the option vaccinated, recovered or tested) we pretty quickly went for the 2G option because it gives everyone a lot more protection," said cafe manager Tuelin Duman.

"The rules that we have introduced match what our customers feel and that's a good thing. So we aren't having to face disappointed faces at the door of people who aren't being allowed in, that hasn't hardly happened with any of our regulars since we have the new rule," she added.

Similar rules have been put in place in Austrian hotspots where police have also reported a general acceptance of the rule.

Germany recorded 32,048 new infections at the beginning of the week, a rise of 47% compared to a week ago, and another 265 deaths, bringing Germany's total during the pandemic to 97,980.

Several German regions, including the capital Berlin, have already introduced the 2G rule, in effect excluding non-vaccinated people from places such as cinemas, hairdressers, restaurants and fitness studios.

It is not clear who should be responsible for policing the new rules. Berlin mayor Michael Mueller called on city officials to check vaccine passports rather than issue parking tickets.

On Thursday Germany's vaccine advisory committee recommended COVID-19 vaccine booster shots for all people aged over 18 as the number of coronavirus infections hits a new record in Europe's largest economy.

The committee, known as STIKO, said it also recommends booster shots to be administered with an mRNA vaccine and that a booster should be given six months after the last vaccine dose.

A shortening of the vaccination interval to five months can be considered in individual cases or if there is enough capacity, it added.

Vaccine centres, which had been winding down were experiencing long queues as the coming winter and the fear of being locked out of leisure activities lured people in.

The new wave of infections is challenging a government in transition, with three parties negotiating to form the next cabinet after September's federal election.

Germany's vaccination rate, at 68%, is among the lowest in western Europe.

With less than two months to go before Christmas, Germany is preparing for tighter restrictions and stricter vaccine rules as the country faces a steep rise in corona infections.

With less than two months to go before Christmas, Germany is preparing for tighter restrictions and stricter vaccine rules as the country faces a steep rise in corona infections. On Thursday (November 18) Germany's parliament voted in favour of a new Infection Protection Act, that will look for approval at the federal state level on Friday. Among rules being touted are that Germany should demand proof of vaccination or recent recovery from COVID-19 for all indoor leisure activities, and require vaccinated people to also present a negative test for risky environments. Signs were already popping up in Berlin restaurants and cafes introducing the so-called 2G rule where it is no longer enough to bring a negative test. "When we were given the option of 2G or 3G (3G is the option vaccinated, recovered or tested) we pretty quickly went for the 2G option because it gives everyone a lot more protection," said cafe manager Tuelin Duman. "The rules that we have introduced match what our customers feel and that's a good thing. So we aren't having to face disappointed faces at the door of people who aren't being allowed in, that hasn't hardly happened with any of our regulars since we have the new rule," she added. Similar rules have been put in place in Austrian hotspots where police have also reported a general acceptance of the rule. Germany recorded 32,048 new infections at the beginning of the week, a rise of 47% compared to a week ago, and another 265 deaths, bringing Germany's total during the pandemic to 97,980. Several German regions, including the capital Berlin, have already introduced the 2G rule, in effect excluding non-vaccinated people from places such as cinemas, hairdressers, restaurants and fitness studios. It is not clear who should be responsible for policing the new rules. Berlin mayor Michael Mueller called on city officials to check vaccine passports rather than issue parking tickets. On Thursday Germany's vaccine advisory committee recommended COVID-19 vaccine booster shots for all people aged over 18 as the number of coronavirus infections hits a new record in Europe's largest economy. The committee, known as STIKO, said it also recommends booster shots to be administered with an mRNA vaccine and that a booster should be given six months after the last vaccine dose. A shortening of the vaccination interval to five months can be considered in individual cases or if there is enough capacity, it added. Vaccine centres, which had been winding down were experiencing long queues as the coming winter and the fear of being locked out of leisure activities lured people in. The new wave of infections is challenging a government in transition, with three parties negotiating to form the next cabinet after September's federal election. Germany's vaccination rate, at 68%, is among the lowest in western Europe.

Germany gets tough on unvaccinated as new rules come into force

China's debt-laden real estate firm Evergrande has announced that it was raising USD 273 million by selling all stake in film production and streaming company HengTen Networks. The network is known to be Chinese equivalent of Netflix.

Hong Kong-based Allied Resources Investment Holdings snapped up HengTen for HK$1.28 a share, a 24 percent discount on its Wednesday close, according to a filing with Hong Kong's stock exchange.&nbsp;

Evergrande crisis has spooked Chinese real estate sector and has even global investors watching. Evergrande is China's biggest real estate firm and has USD 300 billion in liabilities.&nbsp;

Alarm bells began to ring about privately owned property giant Evergrande earlier this year when it struggled to make a series of repayments on domestic and foreign bonds. It is feared that collapse of Evergrande would result in a domino effect in Chinese economy which will spill-over into global markets. &nbsp;

Evergrande has since scrambled to sell assets to raise cash.

Last week it met a deadline to pay overdue interest on three US-dollar bonds before their grace periods ended.

Meanwhile, Hong Kong media have reported that the firm's chairman Hui Ka Yan is offloading some of his personal fortune to raise cash, including a luxury property in the finance hub's ritzy Peak district.&nbsp;

(With inputs from agencies)

China's debt-laden real estate firm Evergrande has announced that it was raising USD 273 million by selling all stake in film production and streaming company HengTen Networks.

China's debt-laden real estate firm Evergrande has announced that it was raising USD 273 million by selling all stake in film production and streaming company HengTen Networks. The network is known to be Chinese equivalent of Netflix. Hong Kong-based Allied Resources Investment Holdings snapped up HengTen for HK$1.28 a share, a 24 percent discount on its Wednesday close, according to a filing with Hong Kong's stock exchange. Evergrande crisis has spooked Chinese real estate sector and has even global investors watching. Evergrande is China's biggest real estate firm and has USD 300 billion in liabilities. Alarm bells began to ring about privately owned property giant Evergrande earlier this year when it struggled to make a series of repayments on domestic and foreign bonds. It is feared that collapse of Evergrande would result in a domino effect in Chinese economy which will spill-over into global markets. Evergrande has since scrambled to sell assets to raise cash. Last week it met a deadline to pay overdue interest on three US-dollar bonds before their grace periods ended. Meanwhile, Hong Kong media have reported that the firm's chairman Hui Ka Yan is offloading some of his personal fortune to raise cash, including a luxury property in the finance hub's ritzy Peak district. (With inputs from agencies)

Evergrande sells stake in HengTen, the Netflix of China

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation. And this is the reason performance of its IPO, biggest ever in India,&nbsp;had everyone's eyed glued to the stock market.

But the IPO hit headlines, not as much for the money it raised,&nbsp;but for the spectacular fall in share price during the trading in Bombay Stock Exchange (BSE) on November&nbsp;18.

The offer price was Rs 2,150&nbsp;but by afternoon the shares changed hands at 1,614 rupees a piece. The shares even hit lower circuit limit of 1,564 rupees. When a share hits this limit, BSE restricts purchases by investors to that price or higher.

What happened?

Paytm is the big fish in online payments market in India. Its backers include biggest names with deep pockets like SoftBank and Ant Group. The brand has high recognisability in India, the third-largest economy in Asia and a prominent global market.

Then what went wrong with Paytm IPO?

"Paytm's financials are not very impressive and the growth prospects seem limited... obviously the company lacks a clear path to profits," Shifara Samsudeen, a LightStream Research analyst told Reuters.

Although Paytm's $2.5 billion offering was priced at the top of the indicative range, demand was much weaker than other recent stock sales, as Paytm has lost some market share to Google and Flipkart's PhonePe.

The company reported a loss of 3.82 billion rupees ($51.5 million) in the quarter ended in June, wider than a loss of 2.84 billion rupees for the same period last year.

It raised $1.1 billion from institutional investors and last week it received $2.64 billion worth of bids for the remaining shares on offer, or a relatively low oversubscription level of 1.89 times.

Many market participants saw the stock's horrendous debut as a sign that investors had become disillusioned with a recent string of IPOs with inflated valuations.

"Most of the domestic institutional investors appear to have skipped the IPO,"&nbsp;&nbsp;Aequitas Research director Sumeet Singh was quoted by Reuters as saying.

He said that the stock was offered at 27 times enterprise value/gross profit for fiscal 2024, more expensive than the 21.3 times for Zomato Ltd and 23 times for Sea Ltd.

He also noted both Ant and SoftBank had cut their shares in the offering. Ant reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding by 2.5 percentage points to 16%.

Paytm's listing could bring "an end to obnoxious pricing in IPO markets", said Mumbai-based investment adviser Sandip Sabharwal. He was quoted by Reuters.

Paytm's reaction to the IPO debacle

Paytm founder and CEO Vijay Shekhar Sharma who was visibly crying with joy at the opening ceremony at the start of the trading maintained a brave face later in the day.

"One day does not decide what our future is," he told Reuters. "It is new business model and it takes a lot for somebody to understand it straightforward... there is a lot for us to bring to the markets and the market participants."

Paytm expects it could break even by late next year or early 2023, a source familiar with the matter told Reuters in July, though the company said in its prospectus it expected to make losses for the foreseeable future.

(With inputs from agencies)

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation.

Paytm is one of India's most recognisable brands especially in post-demonetisation era. The payments platform has seen explosive growth in years after demonetisation. And this is the reason performance of its IPO, biggest ever in India, had everyone's eyed glued to the stock market. But the IPO hit headlines, not as much for the money it raised, but for the spectacular fall in share price during the trading in Bombay Stock Exchange (BSE) on November 18. The offer price was Rs 2,150 but by afternoon the shares changed hands at 1,614 rupees a piece. The shares even hit lower circuit limit of 1,564 rupees. When a share hits this limit, BSE restricts purchases by investors to that price or higher. What happened? Paytm is the big fish in online payments market in India. Its backers include biggest names with deep pockets like SoftBank and Ant Group. The brand has high recognisability in India, the third-largest economy in Asia and a prominent global market. Then what went wrong with Paytm IPO? "Paytm's financials are not very impressive and the growth prospects seem limited... obviously the company lacks a clear path to profits," Shifara Samsudeen, a LightStream Research analyst told Reuters. Although Paytm's $2.5 billion offering was priced at the top of the indicative range, demand was much weaker than other recent stock sales, as Paytm has lost some market share to Google and Flipkart's PhonePe. The company reported a loss of 3.82 billion rupees ($51.5 million) in the quarter ended in June, wider than a loss of 2.84 billion rupees for the same period last year. It raised $1.1 billion from institutional investors and last week it received $2.64 billion worth of bids for the remaining shares on offer, or a relatively low oversubscription level of 1.89 times. Many market participants saw the stock's horrendous debut as a sign that investors had become disillusioned with a recent string of IPOs with inflated valuations. "Most of the domestic institutional investors appear to have skipped the IPO," Aequitas Research director Sumeet Singh was quoted by Reuters as saying. He said that the stock was offered at 27 times enterprise value/gross profit for fiscal 2024, more expensive than the 21.3 times for Zomato Ltd and 23 times for Sea Ltd. He also noted both Ant and SoftBank had cut their shares in the offering. Ant reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its holding by 2.5 percentage points to 16%. Paytm's listing could bring "an end to obnoxious pricing in IPO markets", said Mumbai-based investment adviser Sandip Sabharwal. He was quoted by Reuters. Paytm's reaction to the IPO debacle Paytm founder and CEO Vijay Shekhar Sharma who was visibly crying with joy at the opening ceremony at the start of the trading maintained a brave face later in the day. "One day does not decide what our future is," he told Reuters. "It is new business model and it takes a lot for somebody to understand it straightforward... there is a lot for us to bring to the markets and the market participants." Paytm expects it could break even by late next year or early 2023, a source familiar with the matter told Reuters in July, though the company said in its prospectus it expected to make losses for the foreseeable future. (With inputs from agencies)

Paytm: India's largest IPO tanks on debut - what really happened?

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