Sensex Ends 257 Points Higher; Tata Steel & Hindalco Among Top Nifty Gainers
Closing

Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices edged higher tracking gains in index majors HDFC twins amid positive cues from global markets.

At the closing bell, the BSE Sensex stood higher by 257 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 98 points (up 0.7%).

Tata Steel and Hindalco were among the top gainers today.

Tata Consumer Products and Bajaj Auto, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,865, up by 69 points, at the time of writing.

The BSE Mid Cap index ended the day on a flat note, while the BSE Small Cap index ended up by 0.2%.

Sectoral indices ended on a positive note with stocks in the metal sector and telecom sector witnessing most of the buying interest.

Shares of Wipro and Bajaj Finserv hit their respective 52-week highs today.

Hero MotoCorp and Tata Consumer Products were among the top buzzing stocks today.

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Asian stock markets ended on a mixed note today, after US indexes gained on positive economic data.

The Nikkei and the Hang Seng ended the day on a flat note, while the Shanghai Composite ended the day down by 0.7%.

US stock futures are trading on a positive note today with the Dow Futures trading up by 64 points.

The rupee is trading at 73.52 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 47,636 per 10 grams.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia shares a trading technique, which he has used for many years with great success.

In the video, Brijesh shows how effective this strategy can be with back tested historical data.

Tune in here to find out more:

In news from the engineering sector, Praj Industries was among the top buzzing stocks today.

Shares of Praj Industries hit a new high of Rs 276.8 per share, as they rallied 11% on the BSE in intra-day trade today after the company's consolidated net profit more than doubled to Rs 520 million for the quarter ended March 2021 (Q4FY21), on the back of higher operating income.

The company's income from operations during the quarter under review jumped by 91% year-on-year (YoY) to Rs 5.7 billion from Rs 3 billion in the corresponding quarter of the previous fiscal.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) margins improved by 233 basis points (bps) to 13.2% from 10.9% in Q4FY20.

Its order intake during the quarter stood at Rs 6.50 billion. The consolidated order backlog as of 31 March 2021, was at Rs 17.5 billion (FY20 order backlog at Rs 10.8 billion), which comprised 85% domestic orders and 15% international orders.

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The company's management said the activity levels have remained positively elevated with continued traction in enquiries across several business verticals, including some significant order wins.

Praj Industries bagged a prestigious breakthrough order from Hindustan Petroleum Corporation (HPCL) during the quarter for setting up the compressed biogas CBG project at Badaun in Uttar Pradesh.

The company also won an order from Godavari Bio refineries to set up India's largest capacity syrup-based ethanol plant in Karnataka.

On the domestic Bioenergy front, ethanol blending with petrol at an all-India level has reached more than 7.4% in the first five months of the ethanol supply year 2020-21. This is the highest-ever recorded ethanol blending level at an all-India basis.

The government, in order to extend renewables usage across the nation, recently allowed the direct sale of ethanol as a fuel for compatible automobiles. Like petrol and diesel, the centre has allowed the sale of E-100 directly to compatible vehicles.

Praj Industries is a globally leading engineering company with a bouquet of sustainable solutions for bioenergy, compressed biogas, critical process equipment and skids, breweries, industrial wastewater treatment and high purity water.

Praj Industries share price ended the day up by 7.4% on the BSE.

Moving on to news from the auto sector...

Mahindra & Mahindra to Set Up Advanced Design Centre for Mobility Products

Mahindra Advanced Design Europe (MADE) is being set up in the West Midlands, and the new Centre of Excellence (CoE) will be a part of the Mahindra global design network that includes the Mahindra design studio in Mumbai, and Pininfarina design in Turin (Italy).

It will be operational from 1 July 2021, and will also support the creation of highly skilled design roles, drawing from Coventry University, Royal College of Art, and other design colleges in the UK and Europe.

In a statement, Mahindra & Mahindra (M&M) said "MADE is a strategic enhancement of Mahindra's global design capabilities and renews its commitment to bring to its customers, sophisticated, authentic SUVs with an unmissable presence".

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The new design centre will further sharpen Mahindra's distinctive product designs and differentiated technology offerings to further its safe, thrilling, yet efficient connected car experiences, M&M said.

Commenting on the new centre, M&M Executive Director Rajesh Jejurikar said, "A key lever to make the business future-ready is to significantly strengthen design capability across automotive, farm equipment and two-wheelers globally".

"MADE will contribute to all future automotive and mobility products, including Born EV SUVs and be a resource available to Mahindra group companies. It will give us a quantum leap in both capacity and capability in the design space," he added.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Mahindra & Mahindra share price ended the day up by 2.5% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these four stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


Sensex Trades Marginally Higher, Dow Futures Up by 22 Points
12:30 pm

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 180 points, up 0.4% at 49,129 levels.

Meanwhile, the NSE Nifty is trading up by 70 points.

Adani Ports and Tata Steel are among the top gainers today. Tata Consumer Products and Hero MotoCorp are among the top losers today.

The BSE Mid Cap index is trading flat.

The BSE Small Cap index is trading up by 0.3%.

On the sectoral front, stocks from the metal sector, are witnessing most of the buying interest.

On the other hand, stocks from the software sector, are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 12 points (up 0.1%) while Dow Futures are trading up by 22 points (up 0.1%)

The rupee is trading at 73.69 against the US$.

Gold prices are trading up by 0.2% at Rs 47,689 per 10 grams.

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Moving on to stock specific news...

Among the buzzing stocks today is Zensar Technologies.

Zensar Technologies gained 2.1% in early trade today after the UK-based fintech company, Infinity Circle, selected Zensar for end-to-end development of its next-gen wealth management platform.

Zensar announced that it has been selected by Infinity Circle, a UK-based fintech company in the wealth management space. Zensar will be the design and technology services partner with the scope of engagement spanning across branding, UX, CX design, core platform development, global launch, and ongoing support services.

Chaitanya Rajebahadur, the Executive Vice-President and Head, Europe, Zensar Technologies, commented, "We are excited to work with disruptive companies like Infinity Circle, that bring fintech to the forefront of new ways of doing business. Their vision to take next-generation wealth management to a new and emerging set of clients and investors is in keeping with our focus on creating value for future consumers of digital technology. Our team looks forward to creating this innovative platform for them."

Zensar Technologies is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their digital transformation journey.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, shares of Zensar Technologies were trading up by 0.5% on the BSE.

Speaking of stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, explains how you can make trading profits in the market when the Nifty is stuck in a range, in his latest video for Fast Profits Daily.

Nifty has been rangebound ever since the month of February.

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According to Brijesh, the recent downtrend may have been stooped by the bulls, but they don't seem to be strong enough to take the markets to new highs...at least in the short term.

So, what should you do? How do you trade the market when the index is stuck in a range? Brijesh answers these questions in the video below.

Tune in here to find out more:

In news from the FMCG sector...

Tata Consumer Q4 Results: Net Profit Slumps 44% Sequentially, Margin Contracts

Tata Consumer Products saw a fall in quarterly consolidated profit and a contraction in margin over the preceding three months as expenses rose.

Net profit of Tata Tea and Tata Salt maker declined 44% sequentially to Rs 1.3 bn in the January-March period, according to an exchange filing.

While India beverages and foods businesses maintained revenue, the international beverage business revenue declined versus the December quarter.

"Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) growth for the quarter was impacted by tea inflation in India and increased investments, that more than offset the strong EBITDA growth in India food and International business," the company said in its earnings presentation.

During the year, Tata Salt gained market share with its value-added salts portfolio growing faster, which is in line with the company's premiumisation strategy. The company added five new products to its ready-to-cook category under the "Tata Sampann" brand. They include "haldi doodh" mix, "masala daliya khichdi" mix, dhokla mix, supergrain ragi idli and supergrain ragi dosa mixes.

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"In line with our strategic priority of exploring new opportunities, the health and wellness focused foods portfolio was further enhanced through acquisition of Kottaram Agro Foods (Soulfull brand)-now renamed as Tata Consumer Soulfull," the company said in an exchange filing. "This opens significant opportunities in the fast growing 'on the table' and 'on the go' segments."

The company said integration of its India foods and beverages businesses is now complete. "A redesigned sales and distribution system is in place with digitisation across channel partners, a new integrated business planning system covering demand and supply planning is now live."

We will keep you posted on updates from this space. Stay tuned.

Speaking of the FMCG sector, have a look at the chart below which shows the performance of BSE Sensex and BSE FMCG index since 2009:

While the Sensex has offered 393% returns since 2009, the BSE FMCG index has gone up a staggering 532% returns over the same period.

Richa Agarwal, Senior Research Analyst at Equitymaster, and Editor of the smallcap service, Hidden Treasure, believes this outperformance could continue for many years.

She said that with a rising population and standards of living, Indian's consumption demand for FMCG products will skyrocket over the coming years.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


Sensex Gains 400 Points, Nifty Tops 14,850; Banking & Metal Stocks Rally
09:30 am

Asian stock markets are trading on a positive note today following a healthy lead from Wall Street, with all eyes on the release of US jobs data later in the day.

The Hang Seng is trading up by 0.7% while the Nikkei is up 0.1%. The Shanghai Composite is trading higher by 0.4%.

In US stock markets, Wall Street indices closed higher as gains by banks and technology companies led a broad rally.

Sentiment got a boost after a report showed the number of Americans filing new claims for unemployment benefits fell below 500,000 last week for the first since the pandemic started.

Continuing its uptrend, the Dow Jones Industrial Average hit a new high.

Healthcare sector was hurt by news that the White House supports waiving intellectual property rights for coronavirus vaccines to help immunize poorer countries faster. Shares of drug-maker Moderna fell as investors shrugged off its first-ever quarterly profit.

The Dow Jones Industrial Average rose 318 points or 0.9% while the Nasdaq rose 50 points or 0.4%.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

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The International Monetary Fund's said that the recent jump in Covid-19 cases in India posed downside risks to the fund's April forecast for 12.5% growth in India's economic output in fiscal years 2021 and 2022.

HDFC, Ultratech Cement, Dabur India, Kansai Nerolac and Godrej Agrovet are among companies that will announce their March quarter results today.

The BSE Sensex is trading up by 405 points. Meanwhile, the NSE Nifty is trading higher by 121 points.

IndusInd Bank is among the top gainers today. Power Grid, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.4%. The BSE Small Cap index is trading higher by 0.7%.

All sectoral indices are trading in green with stocks in the banking sector and metal sector witnessing most of the buying interest.

Shares of Ajanta Pharma and Tata Steel hit their 52-week highs today.

The rupee is trading at 73.59 against the US$.

Gold prices are trading up by 0.2% at Rs 47,675 per 10 grams.

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Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia shares a trading technique, which he has used for many years with great success.

In the video, Brijesh shows how effective this strategy can be with back tested historical data.

Tune in to find out more:

In news from the insurance sector, SBI Life Insurance is among the top buzzing stocks today.

US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, is looking to sell 3.5% stake in SBI Life Insurance Company worth US$ 447 million or Rs 33.1 billion through stock exchange platform today, according to a term sheet issued by the sole book runner JPMorgan.

The sale price has been fixed at 945 apiece, which is 2.5% lower than yesterday's closing price of 969.30.

As on 31 March 2021, CA Emerald Investments held 6% stake in the company.

The Washington-headquartered buyout group had acquired a 9% stake in SBI Life Insurance in March 2019 for about US$ 652 million in one of its biggest investments in India. It had purchased the stake from BNP Paribas Cardif SA.

Carlyle divested 3% stake in SBI Life in November 2019 for about Rs 28 billion through an open market transaction.

SBI Life was incorporated as a joint venture between State Bank of India (SBI) and BNP Paribas. Last month BNP sold 5% stake in SBI Life through the open market process to reduce its stake to 0.2%.

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Carlyle also has significant stakes in SBI Cards & Payments Services. Earlier in March, the private equity giant sold 4% stake in SBI Cards worth US$ 514 million or Rs 37.3 billion.

SBI Life Insurance share price has opened the day up by 4%.

Speaking of the insurance sector, have a look at the chart below which shows the investment assets of non-life insurers and life insurers over the past 10 years:

Investment Assets of Non-Life Insurers 11x That of Life Insurers

As per Tanushree Banerjee, Co-Head of Research at Equitymaster, the above chart is enough proof of how big an earning opportunity is the zero-cost float to the non-life insurers. Their investment assets under management is nearly 11 times that of life insurers.

Tanushree recently recommended a high-quality stock from this space. Subscribers can read the report here (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

Moving on to news from the power sector, Adani Transmission plans to invest Rs 30 billion in its transmission business and Rs 15 billion in the Mumbai electricity distribution business in 2021-22, as the company aims to continue its expansion plan.

In FY21, the company added 2,536 circuit km to its power transmission network, driven by organic and inorganic growth taking the total network to 17,2762,536 circuit km.

Yesterday, the company reported a net profit of Rs 2.6 billion in the fourth quarter of FY21 as against Rs 0.6 billion a year ago.

Revenue in the quarter rose 3% YoY to Rs 22.8 billion.

For the year ended March, the company reported net profit of Rs 12.9 billion, up 82%. However, revenue declined 14% to Rs 88.4 billion.

Adani Transmission said that power demand and bill collection in the Mumbai electricity distribution area was impacted in the first half of FY21 due to the disruption caused by the Covid-19 pandemic but the company saw improvement on both accounts in the second half.

Adani Transmission share price has opened the day up by 1%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


SGX Nifty Up 78 Points; Indicates Firm Opening for Indian Stock Markets
SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 78 points, or 0.5% higher at 14,875 levels.

Trends on SGX Nifty indicate a firm opening for Indian stock markets.

Asian stock markets are trading on a positive note today following a healthy lead from Wall Street, with all eyes on the release of US jobs data later in the day.

The Hang Seng is trading up by 0.6% while the Nikkei is up 0.2%.

In US stock markets, Wall Street indices closed higher as gains by banks and technology companies led a broad rally.

Sentiment also got a boost after a report showed the number of Americans filing new claims for unemployment benefits fell below 500,000 last week for the first since the pandemic started.

Continuing its uptrend, the Dow Jones Industrial Average hit a new high.

Healthcare sector was hurt by news that the White House supports waiving intellectual property rights for coronavirus vaccines to help immunize poorer countries faster. Shares of drug-maker Moderna fell as investors shrugged off its first-ever quarterly profit.

The Dow Jones Industrial Average rose 318 points or 0.9% while the Nasdaq rose 50 points or 0.4%.

Note that stocks are headed for their first weekly gain in three weeks amid a surge in commodity prices.

US stock futures are trading higher today with Dow futures trading up by 40 points while Nasdaq futures are up 62 points.

Gold prices hovered near a 2-1/2-month high, aided by a pullback in the dollar and Treasury yields as investors cautiously await US non-farm payrolls data for further cues on the health of the world's biggest economy.

Crude oil prices edged up in early trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook while the surging pandemic in India capped prices.

Back home, Maruti Suzuki and IDBI Bank will be among the top buzzing stocks today.

HDFC, Ultratech Cement, Dabur India, Kansai Nerolac and Godrej Agrovet are among companies that will announce their March quarter results today.

In his latest video for Fast Profits Daily, Brijesh Bhatia explains how you can make trading profits in the market when the Nifty is stuck in a range.

Nifty has been rangebound ever since the month of February.

As per Brijesh, the recent downtrend may have been stooped by the bulls, but they don't seem to be strong enough to take the markets to new highs...at least in the short term.

So, what should you do? How do you trade the market when the index is stuck in a range?

Watch Brijesh's video here to find out more: Profit from a Rangebound Nifty

To know the top cues in today's stock market session, check out the pre-open commentary here.

Stay tuned for more updates on Indian stock markets in the upcoming commentary.


Maruti Suzuki's Production in April, IDBI Bank's Strategic Divestment, and Buzzing Stocks Today
Pre-Open

Indian share markets ended higher yesterday.

Benchmark indices witnessed buying tracking positive cues from global peers, even as India reported over 4 lakh Covid-19 cases.

At the closing bell yesterday, the BSE Sensex stood higher by 272 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 107 points (up 0.7%).

Hindalco and Hero MotoCorp were among the top gainers.

Power Grid Corp and UPL, on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.9% and 0.6%, respectively.

Sectoral indices ended on a positive note with stocks in the IT sector and auto sector witnessing most of the buying interest.

Shares of Mphasis and Deepak Nitrite hit their respective 52-week highs.

At 8:00 am today, the SGX Nifty was trading up by 75 points, or 0.5% higher at 14,870 levels. Indian share markets are headed for a positive opening today following the positive trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading up by 0.3% at Rs 47,119 per 10 grams at the time of closing stock market hours yesterday.

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Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia explains how you can make trading profits in the market when the Nifty is stuck in a range.

Nifty has been rangebound ever since the month of February.

As per Brijesh, the recent downtrend may have been stooped by the bulls, but they don't seem to be strong enough to take the markets to new highs...at least in the short term.

So, what should you do? How do you trade the market when the index is stuck in a range? Brijesh answers these questions in the video below.

Tune in here to find out more:

Top Stocks in Focus Today

Tata Motors share price will be among the top buzzing stocks today.

The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of its dominant position with respect to dealership agreements.

The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services and Tata Motors Finance (opposite parties).

The CCI observed that the complainants are primarily aggrieved that Tata Motors has imposed unfair terms and conditions in the dealership agreement for commercial vehicles in abuse of its dominant position.

The CCI has directed its Director General (DG), the investigation arm, to probe the matter in detail.

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Cipla share price will also be in focus today as the company said it will market and distribute a product used to treat Covid-19 infections made by pharmaceutical firm Roche.

Roche Holding has received restricted emergency use approval from the Indian drug regulator for the product, a cocktail of the antibodies Casirivimab and Imdevimab.

Approval was granted based on data that have been filed for emergency use in the US, and the scientific opinion of the Committee for Medicinal Products for Human Use in the European Union, Cipla said.

The product will be used to treat mild to moderate Covid-19 in adults and paediatric patients (12 years of age or older, weighing at least 40 kg) who are confirmed to be infected with SARS-COV2 and are at high risk.

Market participants will also track Maruti Suzuki share price as India's largest car manufacturer reported that its production has shrunk by at least 7% last month, compared to March 2021, after it manufactured 2 lakh units.

It is also far less than what Maruti Suzuki produced a year ago when the overall figures stood at 1.7 lakh units.

The company's production was going on in full swing before it decided to halt work to divert oxygen to hospitals last week.

According to statement issued by the carmaker, Maruti Suzuki produced 29,056 units of mini cars, which include small hatchbacks like Alto and S-Presso, in April as against 28,519 units in March.

It also built 83,432 units of compact cars like WagonR, Celerio, Ignis, Swift, Baleno and Dzire, during the same period.

However, its production has declined from 95,186 units in March 2021.

Production of utility vehicles too were down from March 2021 at 31,059 units. The auto maker produces utility vehicles like Gypsy, Ertiga, S-Cross, Vitara Brezza and XL6.

It also produced 2,390 units of its light commercial vehicle Super Carry in April, down from 2,397 units in March 2021.

Government Clears Strategic Divestment Proposal for IDBI Bank

In news from the banking sector...

The government has cleared a proposal for strategic disinvestment of IDBI Bank, boosting efforts to meet its ambitious Rs 1.75 lakh crore disinvestment target for this fiscal year.

The proposal was approved by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.

The proposal involves the sale of a majority stake in the bank jointly by the government and Life Insurance Corporation of India (LIC), along with management control.

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The government and LIC own 45.5% and 49.2% stake, respectively, in IDBI Bank, giving them a combined stake of more than 94%.

LIC is currently the promoter of IDBI Bank with management control after the government sold its majority stake to the state-run insurance giant in 2019.

Reports state that the government and LIC may not fully sell their stakes and instead retain minority holdings post the strategic disinvestment.

Earlier this week on Monday, IDBI Bank reported a full-year profit for the first time in five years at Rs 12.6 bn for 2020-21.

In the March quarter, the bank reported a nearly four-fold jump in net profit to Rs 5.1 bn due to tax refund and higher net interest income.

How the above stake sale pans out remain to be seen. Meanwhile, we will keep you updated on the latest news from this space.

Wipro Partners with Transcell Oncologics to Transform Vaccine Safety Assessment

Wipro has partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence. This partnership combines Transcell's innovative stem cell technology with the advanced augmented intelligence capabilities of Wipro HOLMES to improve the safety of global vaccine immunization programmes.

By applying augmented intelligence to the vaccine development process, the solution can predict adverse neurovirulent impacts resulting from vaccinations, said Wipro in a press release. Currently, vaccine safety assessment often includes testing on animals to measure adverse impacts.

Using Wipro HOLMES instead, researchers and biopharmaceutical companies have a new and fully viable solution and alternative. Wipro HOLMES can also be integrated into any existing workflow, including quality control tests in vaccine production, batch-wise release and other safety evaluation assays.

This partnership would expand the Wipro HOLMES solutions available to life science companies for drug repurposing and messenger ribonucleic acid (mRNA) based platform for biodefense. It enables the testing of new vaccines by applying augmented intelligence to stem cell research and measuring safety and potency.

This is the first in a series of next-generation solutions that the partnership will offer to determine the safety and efficacy of a wide range of products from vaccines to prescription medications, cosmetics and more.

"Enhancing neurovirulence safety assessment through augmented intelligence is a huge step forward in vaccine research and development. This innovative technology allows life science companies and vaccine manufacturers to develop, trial and release safer and more effective vaccines for people around the world," Harmeet Chauhan, Global Head, Engineering and R&D, Wipro, was quoted saying.

Dr Subhadra Dravida, Founder CEO, Transcell, said, deriving new and advanced insights from the use of stem cells in an in vitro setting transforms vaccine safety assessment and this breakthrough process would lead to new medical treatments and accelerate innovation and vaccine availability that is vital to saving lives.

We will keep you posted on updates from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.