IPL 2024: Skipper Samson shows the way as Rajasthan Royals make a winning start


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Skipper Sanju Samson inspired his side as Rajasthan Royals defeated Lucknow Super Giants by 20 runs in their Indian Premier League opener on Sunday.

Samson cracked an unbeaten 82 off 52 balls to guide inaugural IPL champions Rajasthan to 193-4 after they chose to bat first in Jaipur.

Rajasthan's New Zealand pacer Trent Boult then struck two early blows to gut the Lucknow batting, which finished on 173-6 despite an unbeaten 64 by West Indies' batter Nicholas Pooran.

Lucknow, who made the play-offs in the last two seasons since their debut alongside Gujarat Titans in 2022, lost regular wickets but skipper KL Rahul kept the chase on track with a 44-ball 58.

The left-handed Pooran then took over, and along with Rahul, put on 85 runs for the fifth wicket but the asking rate kept climbing.

Rahul fell to Sandeep Sharma after his 50 and Marcus Stoinis's departure left Pooran with a lot to get in the final few overs.

Earlier, Samson took on the opposition attack and built key partnerships, including a 93-run third-wicket stand with Riyan Parag, who made 43.

Samson hit six sixes on a pitch with variable bounce where Lucknow bowlers took a beating, except Krunal Pandya, who returned figures of 0-19.

The Rajasthan innings witnessed a nearly 10-minute halt in the first over when a cable of the spidercam broke as technicians scurried to sort out the wires on the field.

Player of the match Samson, said: "Good start, but let's see how it goes. It's all about understanding your strengths and weakness. I just react to the ball. That helps me maintain the shape. Everyone chipped in well. We just had to stick to our plans."

KL Rahul, the defeated LSG captain bemoaned what he felt was a missed opportunity.

"I don't think the target was a lot, it was just 10 over-par," he said. "We bowled well in patches. Not making too much out of it. Just made a few mistakes. Mohsin [Khan] was our powerplay bowler in the first season, but he wasn't fully fit last season. Good to see him back.

"Naveen [ul-Haq] has been crucial for us since he has come in. Powerplay is crucial for every team, and I don't think any team has cracked it yet. When we are three for nothing, and we give ourselves a chance of chasing 194 speaks of our line-up ... We need to find ways to win games of cricket.

"We'll try to build from here, and see where we can get stronger. [Justin] Langer's brought a lot of calmness to the group. I stole his line when I said we need to find ways to win games of cricket. We enjoy having him around. All of us have watched him coach Australia to a T20 World Cup and an Ashes victory.

"When you get runs, you always feel good. But it's important for us to end up on the winning side. That gives more satisfaction. Missing a season was really painful."

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3

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UAE currency: the story behind the money in your pockets
Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia

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Updated: March 24, 2024, 3:35 PM