Monday 30 April 2018

Cashback and discount: Modi govt's mega plan to boost digital transactions

PoS machine

The government is working on a proposal to incentivise digital transactions by providing cashbacks to businesses and price benefits to consumers, a source said.

As per the proposal being worked out by the Revenue Department, consumers paying through the digital mode would be offered a discount over the maximum retail price (MRP). The discount would be capped at Rs 100.

Businesses, on the other hand, could get a cashback based on the quantum of turnover through the digital mode.

The proposals to encourage digital transactions are likely to be placed before the GST Council, chaired by Finance Minister Arun Jaitley and comprising state ministers, on May 4.

According to the source, the issue of providing incentive for digital transaction was discussed at a meeting held in the Prime Minister's Office.

During the meeting, three possible modes of incentivising businesses to go in for digital transactions were discussed. Apart from cashbacks, a proposal to allow businesses to obtain tax credit on the basis of turnover obtained through digital mode was also discussed.

Bihar molestation case: Fighting off attackers, girl finds no help; 4 held

death penalty, rape, woman

The Jehanabad Bihar molestation case has seen four persons being arrested so far, police said on Monday. The case shocked the nation after the video of the incident went viral on social media sites. The video, which was captured by a local, shows a minor girl being hounded and molested by a group of youths in broad daylight. The incident took place on Saturday, the police said.
Jehanabad's Superintendent of Police Manish Kumar said a special investigation team (SIT) arrested four of the accused. "Others have been identified and a hunt is on to arrest them," he said. The SIT also seized a motorbike seen in the video. 4 people arrested in connection with the case. Nayyar Hasnain Khan, Patna Zonal IG, told news agencies that "faces of two people have been matched with the people in the video... four or five other people have been named by them". He added that a search operation is underway.

According to police official Shayam Sundar Singh, an FIR was lodged against seven people involved in the case. Further, two SITs have also been constituted to investigate the incident.
According to the Hindustan Times, the survivor of the molestation is a 14-year-old girl.

Onlookers abandon survivor to her fate:
Some onlookers shot a video of the incident instead of helping the minor girl, all the while she pleaded with the men and resisted their attacks, News18 reported. According to the report's details of the video, the girl tried to fight back as six or seven men tried to rip apart her clothes while lifting her off her feet. The girl kept looking at the camera and crying for help as the video continued to be shot without any hindrance.

Red Fort not alone; Dalmia Bharat also adopting 14th century Gandikota Fort

Gandikota Fort

While Dalmia Bharat group will be beginning a facelift work at Delhi’s iconic Red Fort in the coming weeks, it is also gearing up to start work on the 14th century Gandikota Fort in Andhra Pradesh under the government’s ‘Adopt a Heritage’ scheme. The contract for the Gandikota Fort located in the Kadapa district of the state was signed by the Dalmia Bharat group on the same day as it signed the Red Fort deal with the Union ministries of tourism and culture and the Archaeological Survey of India, on April 9, 2018.

Dalmia Bharat officials said they adopted the Gandikota Fort since it was located close to their cement factory in the district which makes it logistically easier for them to monitor development and maintenance work at the monument overlooking a stunning gorge carved by the Pennar river in Andhra Pradesh.

“The location of the Gandikota Fort is quite remote. It is a living monument, with many households residing there. We do not want to evict any of them and wish to involve them in the monument’s maintenance. One of our primary tasks will be cleaning up the area as certain parts are being used as open toilets. No one wants to smell ammonia while strolling through the Fort,” said Sundeep Kumar, executive director of Dalmia Bharat group.

UPSC result 2017: 2nd topper Anu Kumari to go for IAS; all you need to know

UPSC RESULT: Anu Kumari, second rank holder of the Civil Service examination 2017

Union Public Service Commission on Friday released the final result of UPSC Civil Services Exam 2017 on its official website. Hyderabad's Anudeep Durishetty topped in 2017 Civil Services Exam. According to an official release, Durishetty topped the Civil Services Examination while Haryana's Anu Kumari secured the second rank and was the topper among the female candidates. Sachin Gupta secured the overall third rank. According to the release, Durishetty belongs to other backward classes (OBC) category. He qualified the examination with Anthropology as his optional subject. He has graduated with B khE (Electronics and Instrumentation) degree from BITS, Pilani in Rajasthan. Meanwhile, Anu Kumari graduated with B.Sc (Hons) in Physics from Delhi University and has done MBA (Finance and Marketing) from IMT, Nagpur. The top 25 candidates comprised 17 men and eight women. Saumya Sharma, who appeared in the UPSC exams under the physically disabled category secured an overall ninth rank.

Everything you must know about UPSC 2017 result of Civil Services exam

— UPSC topper's journey was not easy: Durishetty Anudeep, the topper of the Union Public Service Commission (UPSC) examination 2017 explained that his journey to crack the civil services examination was not an easy one.

"This is my fifth attempt. I have failed thrice before, and the journey was not easy for me. However, I am now extremely happy with my achievement, and I am grateful to all the people who supported me through thick and thin," he told ANI.

28-year-old Anudeep, who has served as an Indian Revenue Service (IRS) officer for two years, bagged the first rank in the civil services examination, preliminary examination for which was conducted on June 18 last year.

Open paan shops or raise cows, don't chase govt jobs: Tripura CM Biplab Deb

Biplab Deb

Tripura Chief Minister Biplab Kumar Deb has often found himself in the middle of controversies lately, thanks to his foot-in-mouth statements that trigger strong reactions and criticism. After receiving enough rap for his statements over “internet in the age of Mahabharata” and remarks on why Diana Hayden should never have won world pageants, even as Aishwarya Rai winning was fine, the Tripura chief minister has done it again.

This time, it is with a bizarre career advice to the jobless youth of his state. Deb suggested that they should chase self-employment through setting up paan shops and rearing cows instead of going after government jobs. He asked the educated youth not to run behind politicians for government jobs and instead become “self-employed” for a better living.

According to the Tripura Chief Minister, the youth of Tripura can become self-employed by starting various projects under the animal resource sector with bank loans, under the Prime Minister's Mudra scheme.

It is interesting to note that Deb’s comments come despite and days after Prime Minister Narendra Modi cautioned all the BJP leaders to steer clear of controversies and not make irresponsible statements.

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

Markets, Buy, Sell, Stocks

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW
Nifty after crossing the much awaited resistance of 10,640 has reached the target of 10,700, view still remains bullish but 10,800-10,850 should be a level to watch as this would be a gain of 900 points from its correction which may witness profit booking. The support for the week is seen at 10,550 while resistance is seen at 10,850.

BUY KARNATAKA BANK 
CMP: Rs 122.50
TARGET: Rs 135
STOP LOSS: Rs 115
The stock after the decent correction has bottomed out at around 110 levels and has regained significantly to move past the moving average of 34 wma which is at 123 level and has indicated strength and potential to rise further till 135 levels., The RSI has been in a positive trending mode to signify strength in the stock for still furthermore rise in the coming days. With good volume participation witnessed we recommend a buy in this stock for an upside target of 135 keeping a stop loss of 115.

Short-term outlook for the market remains positive: Devang Shah

Markets, Buy, Sell, Stocks, Shares

NIFTY
CLOSE- 10692.30 (27.04.2018)
Market closed 5th consecutive week in positive territory. It's slow but steady extending on upside towards higher levels targets in short term as expected last week. It made a high of 10,719.80 levels so far in this week. It closed near high at the end of the weekly trading session. It's trading in channel as per daily chart. All the other indices such as midcap, small cap etc also extended gain & closed weekly in positive territory. One can expect the market to extend further towards higher levels targets as expected below in short term. Any kind of decline or short term consolidation is stock specific buying opportunity till short term reverses.

Stock Picks:
BATA- BUY
CLOSE – Rs 790.50
TARGET – Rs 810/835
BATA closed weekly in negative territory. It’s outperforming in short term. Its consolidating in a narrow range for short term. It's trading above 20 DMA. One can BUY with a stop loss of 760 for the target of 810/835 levels in short term.

DCB BANK- BUY
CLOSE – Rs 195.20
TARGET – Rs 205/209
DCB BANK closed weekly in positive territory. It’s outperforming in short term. It's trading above 20 DMA. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 185 for the target of Rs 205/209 in short-term.

Aditya Ghosh quits as IndiGo prez; stock rebounds after 6% fall on Friday

Aditya Ghost quits as IndiGo prez; stock rebounds after 6% fall on Friday

Shares of Interglobe Aviation rebounded, gaining 1% on Monday after falling over 6% on Friday after IndiGo announced today that Aditya Ghosh will step down as President and is likely to be replaced by one of its former executives Gregory Taylor.

It said Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO.

The development comes amid the airline embarking on ambitious expansion plans and its aircraft facing technical issues with engines.

"In the coming months, the Board will consider the appointment of Greg as President and CEO of the company, subject to receiving the necessary regulatory approvals and paperwork," InterGlobe said in a statement.

Ghosh, who has been with the airline for ten years, said it has been a most satisfying task building IndiGo.

"It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure. I wish all my colleagues at IndiGo the very best as they move on to the next phase of growth," he said.

At 9:55 am, the scrip was trading at 1,417, up 0.8% as comapred to a 0.5% rise in BSE Sensex. The stock had hit a high and low of Rs 1,438 and Rs 1,361 in the day so far.

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Reliance Industries falls over 2% post Q4 earnings results

Reliance Industries falls over 2% post Q4 earnings results

Reliance Indutries (RIL) fell over 2% after the company’s consolidated finance cost jump to Rs 25.66 billion as against Rs 5.56 billion in the last quarter of 2016-17, and Rs 21 billion in the December 2017 quarter.

The company reported a consolidated net profit of Rs 94.35 billion for the quarter ending March 31 (Q4) on the back of improved performance of its petrochemical and retail businesses. The profit was largely in line with the estimates and represents a 17.3 per cent increase over Rs 80.46 billion reported in the year ago quarter.

Earnings from the refining and market business took a hit, with a 10.9 per cent year-on-year decline in its earnings before interest and taxation (EBIT) for the March 2018 quarter. The company said, the fall was largely on account of reduced crude throughput and adverse move in Brent-Dubai crude oil price differentials.

According to Amar Ambani, head of research at IIFL, "Future outlook for refining and petrochemical segments look upbeat as the company ramps up off gas cracker and commences operations of petcoke gasifiers. We are raising estimates for retail and petrochemicals segment, while we maintain our forecasts for refining segment."

Friday 27 April 2018

Mallya says he wants to vote in Karnataka polls but can't travel to India

Vijay Mallya

Karnataka polls - Liquor tycoon Vijay Mallya, who had represented Karnataka twice in the Rajya Sabha, today said it was his democratic right to vote in the state assembly polls, but lamanted that he cannot travel to India, where he is wanted to face charges of fraud and money laundering.

The 62-year-old former businessman parliamentarian had first represented Karnataka as the member of the Upper House of Parliament between April 10, 2002 and April 9, 2008.

"It is my democratic right to vote in Karnataka, but as you know I am here and cannot travel," he told reporters outside the Westminister Magistrate's Court in connection with a hearing in his ongoing extradition trial, to rule if he can be extradited to India to face charges for financial irregularities involving an amount of around Rs 9,000 crores, as well as money laundering cases.

He was re-elected for the Rajya Sabha from the southern state on July 1, 2010 and resigned on May 5, 2016 before his the expiry of his term on June 30, 2016. He is in the UK since March 2016.

IPL 2018, DD vs KKR: Daredevils seek revival of fortunes under Shreyas Iyer

Delhi Daredevils' skipper Shreyas Iyer during a practice session for IPL 2018 at Firoz Shah Kotla stadium in New Delhi on Thursday. Photo: PTI

In the 26th match of Vivo Indian Premier League (IPL 2018), Delhi Daredevils will take on Kolkata Knight Riders at Ferozshah Kotla ground in New Delhi. Bruised and battered by their poor performance since the start of their IPL 2018 campaign, and with its worries compounded by the resignation of skipper Gautam Gambhir, Delhi Daredevils under young Shreyas Iyer face a daunting task to lift their fortunes as they clash with Kolkata Knight Riders (KKR) in today’s match.

Currently languishing at the bottom of the Vivo IPL points table, Delhi Daredevils will hope for a new lease of life under the new skipper Shreyas Iyer even as KKR try to chase their fourth win in seven games at the Ferozshah Kotla. After losing five of their six outings, Delhi have a tough task of winning seven of the remaining eight matches to be in contention for the play-offs. And the onus is on the 23-year-old Iyer and the team management to formulate the correct combination for a turnaround. With Gambhir battling poor form and the rest of the batting order not clicking in unison, Delhi have so far been over-reliant on young Rishabh Pant.

Shreyas Iyer, meanwgile single-handedly propelled Delhi to almost their second win of the IPL 2018 in their previous match against Kings XI Punjab. They fell short by only four runs. Delhi Daredevils have not been particularly lucky on the fitness front, either, with Jason Roy (side strain) and Chris Morris (back problem) still recovering. The only game Daredevils have won so far was shaped by Roy's unbeaten whirlwind knock of 91 on debut against Mumbai Indians. Another major worry for the Daredevils is the lack of form of Australian power-hitter Glenn Maxwell, who has scores of 17, 13, 47, 4 and 12 so far.

Shah Jahan's iconic Red Fort in Delhi is now Dalmia group's Red Fort

Red Fort

In one of the most spectacular contracts ever won by a corporate house in India, the 77-year-old Dalmia group has created history by adopting a slice of it. The conglomerate has become the first corporate house in India’s history to adopt a historical monument in a contract worth Rs 250 million (or Rs 25 crore) spanning five years. The monument in question is none other than the 17th century Red Fort, built by India’s fifth Mughal ruler Shah Jahan, as he moved his administrative capital from Agra to present-day Delhi. The Dalmia group won the contract by beating IndiGo Airlines and the GMR group in the race to bag one of the most prestigious contracts under the Indian government's ‘Adopt A Heritage’ scheme.

The Dalmia group has started brainstorming on how it intends to develop the Red Fort over the next few months. It will start work on May 23 before handing it over temporarily to security agencies in July as sanitisation measures kick in for Prime Minister Narendra Modi’s last independence day speech of his present tenure. The Dalmia group’s top officials said they have plans to complete night illumination before handing it over temporarily for the Prime Minister’s Independence Day address. Work on other aspects of the contract would resume in full swing after that. Among other things, the group plans to install tactile flooring for the physically challenged and signage that depicts the monument’s history. It also plans to use the Red Fort for various events such as music concerts and other cultural activities to promote greater tourist interest in the monument. As the corporate house moves forward with its planned works, it would also launch various marketing and advertising activities to popularise the revamped Red Fort for people to visit.

Greater Noida rape: Woman forced to drink, raped by Ola driver's friend

child rape, sexual abuse, sexual harassment

Greater Noida rape - A 25-year-old woman was allegedly raped by the friend of the Ola cab driver in Greater Noida on Thursday night.

The woman had booked an Ola cab from Sector 126 to Surajpur and a passenger was already in the car. The driver told the woman that he has to drop the man first to his destination, which the victim, ignorant of their brutal plans, agreed, ANI reported.

“The driver Ashok had reached for the pick-up. The woman got inside the cab and Ashok drove away to Greater Noida,” Shailendra Pratap Singh, Station Officer Jarcha police station, was quoted as saying by Times of India.

The victim in her complaint said she was forced to consume a drink spiked with alcohol in the vehicle after which the cab was taken to a secluded forest area near Jarcha. The complainant told police that the driver went away, while another man named Praveen reached there and raped her.

The woman, who works in a BPO in Noida Sector 37, then called police and reported the matter after which a case has been registered under relevant sections.

The Uttar Pradesh Police has detained at least six people in connection with the case.

Meanwhile, the woman has been sent for medical examination.

Telangana SSC 10th results 2018 out at 7 pm today: Here are the details

Telangana SSC results 2018

Telangana SSC 10th results 2018 - The Telangana Board of Secondary Education (TBSE) is set to announce the result of Telangana SSC or class 10th board examination 2018 on Friday at 7 pm on its official website - bse.telangana.gov.in. The board conducted the Telangana SSC class 10 exam from March 15 to April 2 across 2,500 centres in Telangana this year.

Deputy Chief Minister and Minister of Education Kadiyam Srihari will release the TS SSC result 2018 from the conference hall of Telangana Secretariat Hyderabad.
According to a Times of India report, 533,701 students had appeared for the examination this year. The BSE Telangana will publish the result of SSC exams 2018 at bse.telangana.gov.in and results.cgg.gov.in. In case the official website becomes unresponsive and students face heavy traffic due to a high number of clicks, they can check results on partner websites — examresults.net, indiaresults.com, schools9.com, passorfail.in, vidyavision.com and manabadi.com, reported the Indian Express. Last year, the TS SSC class 10 result was declared on May 2, 2017.

After the results are declared, the Telangana Board of Secondary Education (TBSE) will also announce the merit list of the students those will be able to score the highest marks in each subject.

PSU banks rally; Nifty PSU Bank index up 5%

SBI

Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 5%, its sharpest intra-day gain during past one month on the National Stock Exchange (NSE).
At 11:13 am; Nifty PSU Bank index, the largest sectoral index, was up 4.9% at 2,844, as compared to 0.73% rise in the Nifty 50 index. The index surged 5.1% in intra-day deal, recorded its biggest intra-day trade since March 26, 2018, when it was up 5.4%.

State Bank of India (SBI), Oriental Bank of Commerce, Union Bank of India, Andhra Bank, Bank of India, Canara Bank, Bank of Baroda (BoB) and Allahabad Bank from the index were up in the range of 5% to 7% on the NSE. IDBI Bank, Punjab National Bank, Syndicate Bank and Indian Bank were up 3% to 4%.


On Thursday, Nifty PSU Bank index closed at 2,712, its lowest level since June 30, 2016. In past twelve trading days, the index underperformed the market by falling 11.5% against 2% rise in the Nifty 50 index till yesterday.

Axis Bank rises 5% despite weak Q4 results

Axis Bank

Shares of Axis Bank were up 5% at Rs 522 per share on the market despite the private sector lender reporting its first net loss of Rs 21.8 billion for the quarter ended March 2018 (Q4FY18), as non-performing assets (NPAs) soared and provisions for bad loans surged three times over the corresponding quarter last year.
Most of the local brokerage houses maintain ‘buy’ or ‘accumulate’ rating on the Axis Bank on expectation of sustained return on assets (ROA) expansion over the next 24 months to drive a multiple expansion as asset quality distractions recede.

Axis Bank reported the loss was on account of accelerated stressed asset recognition, precipitated by new RBI guidelines on Resolution of Stressed Assets.

“The bank reported slippages of Rs 165 billion (18.1% of opening loans), leading to elevated income reversals and high loan loss provisions, thereby impacting profits. In FY19ii, Axis Bank plans to recognise residual stress in 1HFY19ii and then proceed to more normalised operations in 2HFY19ii. It also aims to revamp its corporate banking vertical. The accelerated stress recognition and high provisions, thereon, is a positive,” IIFL Institutional Equities said in result review.

Motilal Oswal expects Maruti to hit Rs 14,000; here's Q4FY18 results preview

How Suzuki's Hansalpur plant became Gujarat's top car manufacturing unit

On Friday, Maruti Suzuki will report the financial performance for the January – March 2018 quarter (Q4FY18) and the full financial year 2017-18 (FY18).

The automobile sector, which witnessed a healthy sales growth in FY18 led by higher demand from rural market and the fast-growing SUV segment, should continue to do well in the new fiscal year (FY19) as well, analysts say.

According to data, sales of passenger vehicles (PV) of the country's top six car makers cumulatively rose by about 11% in FY18, as compared to 9% growth in FY17.

Maruti Suzuki has underperformed the markets thus far in calendar year 2018 (CY18) by falling around 8% as compared to 0.4% rise in the Nifty50 and around 4% fall in the Nifty Auto index, ACE Equity data shows.

Analysts expect the earnings upgrade cycle for Maruti to continue in FY19 as well, driven by higher volumes and margins.

Reliance Industries hits record high ahead of March quarter results

RIL Q1 consolidated net at Rs 7,464 cr

Shares of Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the market in early morning trade on the BSE, ahead of its January-March quarter (Q4FY18) results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal.
Textiles to telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100 billion mark.

The strong quarterly expectations are on the back of its petrochemicals segment performance. In addition, retail and telecom are likely to help the company’s Q4FY18 performance, the Business Standard reported.

Meanwhile, analysts at Edelweiss Securities estimate RIL’s standalone profit after tax (PAT) to rise 2% QoQ to Rs 86.5 billion.

“We expect 5% lower refining EBIT QoQ with GRM of USD11.1/bbl (Q3: USD11.6/bbl). Petchem earnings are likely to improve 11% as new capacities ramp up in addition to robust cracker and polymer margins. We expect continued benefit from US ethane imports and off-gas projects,” the brokerage firm said in result preview.

Thursday 26 April 2018

Asaram verdict: Even if Brahma says he's rapist, won't believe say devotees

Asaram rape case verdict today

Self-styled godman Asaram Bapu was on Wednesday convicted by a Jodhpur court for raping a minor girl at his ashram here in Rajasthan in 2013 and sentenced to a life term. Two other co-accused in the case, also convicted today, were given 20 years each in jail. The judgment was pronounced by Special Judge for Scheduled Caste and Scheduled Tribe cases, Madhu Sudan Sharma, inside the Jodhpur Central Jail, where Asaram Bapu is lodged.

Earlier in the day, while pronouncing the verdict inside the Jodhpur central jail amid tight security, the court had held Asaram guilty of assaulting and outraging the modesty of a 16-year-old woman, who, at the time of the incident, was a student at one of Asaram's ashrams in Chhindwara, Madhya Pradesh. The incident allegedly took place on the night of August 15, 2013, at another Asaram ashram in Manai area near Jodhpur.

Special judge Madhusudan Sharma lamented, in his 453-page judgement, that by his heinous act the godman has not merely shattered the faith of his devotees in him but has also harmed the reputation of saints among common people.
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IPL 2018, SRH vs KXIP: Sunrisers face rampaging Kings XI in return leg

Kings XI Punjab batsman Chris Gayle  being greeted by Sunrisers Hyderabad players after complete his century during IPL 2018 cricket match in Mohali on Thursday. Photo: PTI

In the 25th match of Vivo Indian Premier League (IPL 2018) Sunrisers Hyderabad (SRH) will face off rampaging Kings XI Punjab (KXIP) at Rajiv Gandhi International Stadium in Uppal, Hyderabad. Table-toppers Kings XI Punjab (KXIP) and Sunrisers Hyderabad (SRH) will be aiming to outsmart each other and continue their winning run so that they can consolidate their positions in the Vivo IPL Points table.

A rampant Kings XI Punjab has won five of its six league games while Hyderabad have managed to carve out four victories from six games, standing third in the Vivo IPL points-table. Kings XI openers Lokesh Rahul and Chris Gayle have been a major reason behind their success. While Rahul has accumulated 236 runs from six games, the Caribbean self-proclaimed "Universe Boss" has amassed 229 runs from just three matches. Gayle however, missed the previous match against Delhi Daredevils due to fitness issues and his absence was clearly felt in Punjab's opening. If the 38-year-old returns for Thursday's game, it will be again be a threat to the opponent's bowling. Karun Nair has also been impressive after 173 runs from five innings but veteran Yuvraj Singh, Aaron Finch and Mayank Agarwal are yet to make their presence felt in the middle. The trio's poor form could be a cause of concern for the team management, keeping in view Hyderabad's decent bowling attack.

Kushinagar bus accident: Busy with music, driver caused 13 students' death

Kushinagar bus-train accident

Kushinagar bus accident - An early-morning accident in Uttar Pradesh's Kushinagar on Thursday saw at least 13 school students being killed as the vehicle they were travelling in collided with a passenger train at an unmanned crossing. All the victims were students of the town's Divine Public School. Six other students were seriously injured; Kushinagar district Chief Medical Officer (CMO) Akhilesh Kumar told news agencies that one child and the driver of the van were in a critical condition. After ordering an inquiry into the matter, Uttar Pradesh Chief Minister Yogi Adityanath visited the accident site in Kushinagar.

According to railway ministry officials, the train dragged the school van for over 100 metres before coming to a halt.

The incident took place at the Dudhi Behpurva gate at 7.10 am. The injured were rushed to Pandrauna Hospital, 30 km from the accident site. Railways spokesperson Ved Prakash told news agencies that the children died on the spot as the Siwan-Gorakhpur passenger train crashed into the van at the crossing, 100 km from Gorakhpur. "It was an unmanned level crossing gate at Behpurva, with Gate Mitra (rail volunteer) deployed there. He tried to stop the van but the unfortunate incident happened at unmanned gate 45 near Dudhi station in Banaras division," the spokesperson said in New Delhi.

Aadhaar data of 134,000 Indians leaked on Andhra govt website; top updates

Aadhaar, aadhaar card, aadhaar leak, aadhaar data breach, andhra pradesh, aadhaar privacy

On reasonable grounds, the benefits that Aadhaar offers to citizens are immense. But the actual costs stem from the possible misuse of Aadhaar data. Despite a robust legislation on data protection by UIDAI, Aadhaar numbers and bank details of over 134,000 beneficiaries on Andhra Pradesh Housing Corporation's website have been leaked. The Andhra Pradesh government’s cyber security researcher Kodali Srinivas has revealed how a state-run agency has disclosed the Aadhaar data, bank accounts information with IFSC codes, caste and religion besides geo-location of 134,000 beneficiaries of housing schemes.

The leaked details have now been taken off the website.

Even after repeated claims by the Unique Identification Authority of India (UIDAI) that Aadhaar data can never be used for surveillance or to track religious and caste information, this new data leak of sensitive information is likely to bring the authenticity of the nodal agency’s regulations on data protection under question. The latest Aadhaar data breach took place just a day after Chief Minister N Chandrababu Naidu inaugurated the Andhra Pradesh Cyber Security Operations Centre (APCSOC).

Karnataka polls: Development over politics for BJP, says Modi via NaMo app

Modi

In the run-up to the Karnataka Assembly election on May 12, Prime Minister Narendra Modi on Thursday interacted with the Bharatiya janata Party (BJP) candidates, office bearers, elected representatives and party workers in the poll-bound state through the NaMo app. PM Modi, during the interaction, encouraged those engaged in the Assembly poll campaign in Karnataka and also provided guidance to senior party leaders, MPs, and MLAs.
Meanwhile, Modi expressed his deepest condolences to the victimes of the deadly school van-train collision that took place early this morning in Kushinagar, Uttar Pradesh. PM Modi ensured that the Uttar Pradesh government and railway department would take appropriate action.

As the Prime Minister began speaking, he fostered the three-pronged agendas of BJP -- development, fast-paced development and all-round development. Modi also raised the issue of caste and religion-based politics, as he said: “Development is not an issue for those who dwell on caste-based politics; they give a lollipop of fake promises to a particular community and then do same with another community in next elections. If you analyse last few elections, you will realise how few political parties have indulged only in dividing societies on religious lines. They exploit emotions of some community before elections and forget them after the elections”, reported ANI.

PNB, HPCL, Idea, Bharti Infratel, HDIL, Reliance Naval hit 52-week lows

stock market

Punjab National Bank, Hindustan Petroleum Corporation Limited (HPCL), Idea Cellular, Housing Development & Infrastructures (HDIL), Reliance Naval and Engineering and Bharti Infratel were among 14 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the market on Thursday.
Sugar stocks such as Bajaj Hindustan, Balrampur Chini Mills and EID Parry, Lakshmi Vilas Bank, Power Finance Corporation, S H Kelkar & Co, Somany Ceramics and Vakrangee too hit 52-week lows today. On comparison, the S&P BSE Sensex was up 0.11% at 34,541 at 12:00 pm.

Reliance Naval hit a new low of Rs 18.55, down 18%, extending its past one week’s 22% fall, after the company reported widening of its net loss to Rs 4,087 million in January-March quarter of 2017-18 fiscal year from Rs 1,399 million net loss in the same period of previous financial year. For the full year 2017-18, it posted a net loss of Rs 9,561 million as compared to a loss of Rs 5,234 million in previous year.

Auditors of Anil Ambani-led Reliance Naval and Engineering have raised doubts about the company's ability to "continue as a going concern".

Shaily Engineering hits record high on stake hike by HDFC Small Cap Fund

Shaily Engineering hits record high on stake hike by HDFC Small Cap Fund

Shaily Engineering Plastics hit a record high of Rs 1,510, up 8%, extending its Wednesday’s 6% gain on the BSE after HDFC Mutual Fund increased its stake in plastic products company by more than one percentage points through open market.
On April 25, 2018, HDFC Small Cap Fund had purchased 99,134 equity shares representing 1.2% stake in Shaily Engineering Plastics at price of Rs 1,300 per share, the BSE bulk deal data shows.

The name of the sellers not ascertained immediately.

As of March 2018, HDFC Small Cap Fund held 372,756 shares or 4.48% stake in Shaily Engineering Plastics.

Investor, Ashish Kacholia has also hold 460,785 shares or 5.54% stake in the company, the shareholding pattern data shows.

The stock price of Shaily Engineering Plastics has been more than doubled in past six months, up 133% against 4.3% rise in the S&P BSE Sensex.

At 11:49 am; it was trading 6% higher at Rs 1,482 as compared to 0.12% rise in the benchmark index. Around 23,000 shares changed hands on the counter against an average 14,000 shares were traded daily in past two weeks on the BSE.

Emami shares surge 7% on bonus issue plan

Emami

Shares of Emami have surged 7% to Rs 1,204 on the BSE in early morning trade after the company engaged in manufacturing & market of personal care & healthcare products business announced a bonus issue plan.
“The meeting of Board of Directors of the Company will be held on May 03, 2018, to approve audited annual accounts of the Company for the year ended March 31, 2018, to consider and if thought fit, to recommend a dividend for the said year and / or to recommend issue of bonus shares to the equity shareholders,” Emami said in a regulatory filing.

Earlier, in June 26, 2013, Emami had rewarded its shareholders by issuing bonus shares in the ratio of 1:2 (i.e. one bonus equity share of Re 1 each for every two fully paid equity shares of Re 1 each held).

At 09:21 am; the stock was trading 6% higher at Rs 1,188 on the BSE, as compared to 0.17% rise in the S&P BSE Sensex. A combined 77,548 equity shares changed hands on the counter on the BSE and NSE so far.

Wipro dips 5% on weak revenue guidance for Q1FY19

Wipro

Shares of Wipro have dipped 5% to Rs 274 per share on the market in early morning trade after the India's third-largest information technology (IT) services company has gave a disappointing revenue growth guidance of -2.3% to 0.1% in CC (constant- currency) terms for the April-June quarter of 2018-19 (Q1FY19).
The company posted 6.69% quarter on quarter (QoQ) drop in its net profit at Rs 18 billion for the fourth quarter of 2017-18 (Q4FY18). Gross revenues were almost flat at Rs 137.7 billion, with a growth of 0.7% over the previous quarter.

Analysts on an average expected profit of Rs 21 billion and revenues of Rs 139 billion for the quarter.

“Actual growth may even be lower depending on the timing of divestiture of its hosted data centre services (DCS) business to ‘Ensono’ during Q1FY19 for US$405mn,”analysts at Emkay Global Financial Services said in results update.

“We reduce earnings estimates for FY19/20E by 3%/4%. Valuation at 16.1x/14.9x FY19/20E EPS are full in light of sub-par growth v/s peers. Retain REDUCE with TP of Rs 250 (valued at 13x FY20e earnings),” it added.

Wednesday 25 April 2018

Gautam Gambhir steps down as Delhi Daredevils captain, Iyer to replace him

Photo: PTI

Gautam Gambhir on Wednesday stepped down as IPL laggards Delhi Daredevils captain, saying he just could not handle the pressure of the job. Shreyas Iyer replaced him in the position but Gambhir will continue to be a part of the team that has lost four of its five matches so far and is placed bottom of the table at the eighth position.

"May be I was too desparate to turn things around and that can backfire. It could be the reason.

I just couldn't handle the pressure and when you don't do that, you have to own that up as a leader," Gambhir said in a press conference also attended by franchise CEO Hemant Dua and coach Ricky Ponting.

"I was sitting alone and thinking, I couldn't handle the pressure... I was not good enough and that is all," he added.

The 23-year-old Iyer is a top-order batsman and has scored two back-to-back half centuries in losing causes.

All new Gmail: Google redesigns G Suite to steal biz away from Microsoft

Gmail logo | Wikimedia Commons

Alphabet Inc’s Google unveiled on Wednesday its first Gmail redesign since 2013, capping what the company says was an expensive overhaul two years in the making to adopt security and offline functionality and better resemble Microsoft Outlook.

It is Google’s most extensive update to software in its G Suite workplace bundle since accelerating efforts to steal business from Microsoft Corp’s dominant Office workplace software suite. Previously, G Suite added instant-messaging and spreadsheet features.

With Gmail, Google said it restructured email storage databases, unified three dueling systems for syncing messages across devices and upgraded computers underpinning the service. That shift to Google’s self-developed Tensor processing chips enables smart-assistant features such as “suggested replies” to messages and “nudges” to respond to forgotten emails.

“This is an entire rewrite of our flagship, most-used product,” said Jacob Bank, product manager lead for Gmail, which 1.4 billion people use each month.

Toyota's Yaris sedan price starts at Rs 875,000: Details of variants here

Toyota Yaris, yaris sedan, Toyota Yaris price, Toyota Yaris variants, Toyota Yaris bookings

After unveiling it at the Auto Expo 2018, Toyota Kirloskar Motor has finally announced some of the details of the much-anticipated Yaris sedan in India. These include the price range, variants and pre-launch bookings. The new Toyota sedan will be launched at an introductory price of Rs 875,000 (ex-showroom, pan India).

Yaris sedan will mark Toyota’s entry into in the mid-sized premium car segment in the Indian automobile market and will also offer some first-in-segment features. Toyota Yaris will be made available in four different variants - J, G, V and VX. The top-end version is being priced at Rs 14,07,000. These introductory prices have been kept uniform across the country.

As the pre-launch bookings have already begun, the customers can book the new Yaris sedan at any Toyota dealerships across the country but the deliveries of the Toyota Yaris will begin from May 2018 onwards. While the price value is competitive, the Yaris competes with the likes of the Maruti Suzuki Ciaz, Honda City, and Hyundai Verna in the auto market. The customers can also book the Toyota Yaris for the test drive, said N Raja, Deputy Managing Director, Toyota Kirloskar Motor.

IPL 2018, RCB vs CSK: Expect some bling as Chennai, Bangalore renew rivalry

Virat Kohli, IPL 2018

In the 24th match of Vivo Indian Premier League (IPL 2018) Royal Challengers Bangalore (RCB) and Chennai Super Kings (CSK) are set to renew their intense rivalry after two years. The teams will face each other at M Chinnaswamy Stadium in Bengaluru from 8 pm today. Chennai Super Kings will see today’s match as an opportunity to return to the top of the Vivo IPL points table.

With CSK absent from the two previous seasons of IPL, fans on either side were robbed of IPL's most celebrated rivalry. Though Mahendra Singh Dhoni's CSK lead Virat Kohli's RCB 13-7 in overall head-to-head records, the two teams have won three games each of the seven played at the high-scoring M Chinnaswamy Stadium so far. One of the games producied no result. As for IPL 2018, Dhoni's men have seemed much better than RCB, winning four of the five games they have played so far. The Virat Kohli-captained RCB, which have won two of their five matches, would be eager to win today and maintain the momentum after their win against Delhi Daredevils at home in the 19th match of IPL 2018.

Rape case verdict: Asaram to be in prison until death; top 10 developments

Asaram rape case verdict today

The Jodhpur SC/ST court, which earlier in the day convicted Asaram in a five-year-case of raping a minor, on Wednesday sentenced the self-styled godman to life imprisonment until death. Two other co-accused in the case, also convicted today, were given 20 years each in jail.

Earlier in the day, while pronouncing the verdict inside the Jodhpur central jail amid tight security, the court had held Asaram guilty of assaulting and outraging the modesty of a 16-year-old woman, who, at the time of the incident, was a student at one of Asaram's ashrams in Chhindwara, Madhya Pradesh. The incident allegedly took place on the night of August 15, 2013, at another Asaram ashram in Manai area near Jodhpur.

After the verdict, the rape survivor's father said he hoped Asaram would get "strict punishment". The self-styled godman's downfall sees him leave behind a Rs 100-billion empire.

The verdict was pronounced inside the premises of the Central Jail in Jodhpur amid tight security to avoid a repeat of the violent protests and arson seen when another self-styled godman, Gurmeet Ram Rahim Singh, had earlier been sent to jail in a rape case.

SBI Life Insurance, HDFC Standard Life Insurance hit new highs

Life Insurance

Shares of life insurance companies were trading higher in otherwise subdued market with SBI Life Insurance Company and HDFC Standard Life Insurance Company hitting their respective new highs on the BSE on Wednesday.

ICICI Prudential Life Insurance Company (IPRU) has surged 11% to Rs 460, extending its Tuesday’s 7% gain after the company reported better than expected results for the financial year 2017-18 (FY18). On comparison, the S&P BSE Sensex was trading 0.16% lower at 34,563 points at 12:03 pm.

SBI Life was up 2% to Rs 762 in intra-day trade today, after gaining 4% on Tuesday. The stock trading at its highest level since listing on October 3, 2017, was up 9% against its issue price of Rs 700 per share.

HDFC Standard Life too hit a new high of Rs 512, up 2% on the BSE in intra-day trade today. Since listing on November 11, 2017, the stock rallied 45% as compared to 4% rise in the benchmark index. The company issued shares at price of Rs 290 per share.

New Business (NB) annual premium equivalent (APE) growth slowed down for the life insurance industry at 16% year-on-year (YoY) in FY18 (Vs 21% YoY FY17) as group business APE grew merely 1% YoY (Vs 21% YoY in FY17). Individual business APE continued to grow better at 19% YoY (21% YoY in FY17) as key private players such as SBI Life and HDFC SL clocked over 30% YoY growth.

DCM Shriram plunges 13% on weak March quarter results

DCM Shriram's chlor alkali plant

Shares of DCM Shriram have plunged 13% to Rs 380 per share on the BSE after the company reported 68% year-on-year (YoY) drop in net profit at Rs 510 million in March quarter (Q4FY18), due to poor performance of its sugar business. It had posted profit of Rs 1,560 million in year ago quarter.
Operations revenue was down 3% at Rs 15.66 billion against Rs 16.16 billion in the corresponding quarter of previous fiscal.

The company said sugar volumes declined by 14% due sales restriction by central government. Sugar Prices for Q4FY18 down by 13% YoY, while molasses prices down to almost zero.

Sugar PBDIT (profit before depreciation, interest and tax) turned into negative Rs 1,270 million from positive Rs 1,410 million, it added.

“Sugar business is experiencing difficult price situation with prices significantly below cost. Industry has been pursuing with government for immediate support as well as a rational policy framework. There is need for urgent action in this regard to ensure that farmers’ interests are protected,” Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director, said on the performance of the company.

ICICI Prudential Life rallies 13% in two days post FY18 results

ICICI Pru IPO: Could raise Rs 1,800 cr from anchor investors

Shares of ICICI Prudential Life Insurance (IPRU) were up 5% to Rs 438 per share in early morning trade, surging 13% in past two trading sessions on the market, after the company reported better than expected results for the financial year 2017-18 (FY18).
The insurance company reported 93.1% increase in the Value of New Business (VNB) at Rs 12.86 billion in FY18 as compared to Rs 6.66 billion for FY17.

This robust growth is attributable to the growth in both savings and protection Annualized Premium Equivalent (APE) as well as improvements in persistency and cost efficiency, IPRU said in a statement.

The new business margin during the fiscal increased by 6.4 ppts to 16.5% from 10.1%, propelled by a rejig of the product mix towards increased protection products, reduction in expenses, improved profitability of ULIP and Par saving products, and changes in corporate taxation assumption.

Nifty Outlook and top trading ideas by HDFC Securities

Markets, Buy, Sell, Stocks

Nifty outlook and top stock pick by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty Outlook
From the bottom of 9951 registered on 23rd Mar 2018, Nifty has risen 6.90% till date. In last two sessions, Nifty has been facing resistance around 10638 levels. Any level above 10638 could extend the upswing towards next resistance of 10705, which happened to be 61.8% retracement. Nifty has been sustaining above its 100 DMA, and same is likely to provide support at 10462 odd levels.

BUY SUNPHARMA ADV. RESEARCH
CMP: Rs 425
Stop Loss: Rs 400
Target: Rs 480
Downward sloping trend line breakout is seen on the daily charts. Stock price has broken out from last 8 session’s consolidation. Volumes have been going up along with the price rise for last couple of sessions. Stock price has been trading above 50,100 and 200 DMA, indicating uptrend for short to medium term. Oscillator like RSI and Momentum indicator like MACD on the daily charts have been showing strength. Pharma sector has started showing traction for last couple sessions and looks convincing for the short term. We recommend buying SPARC for the upside target of 480, keeping SL at 400.

Tuesday 24 April 2018

IPL 2018: Struggling Mumbai eye self-rediscovery in MI vs SRH match today

IPL 2018: SRH to eye points table top slot against defiant KXIP in Mohali

In the 23rd match of Indian Premier League (IPL 2018) on Tuesday, efending champions Mumbai Indians (MI) will take on Sunrisers Hyderabad (SRH) at Mumbai's Wankhede Stadium. MI skipper Rohit Sharma would be under extreme pressure, after his team's dismal show in the tournamet so far -- they have lost four of the five matches they have played so far and are placed at the 7th spot in the Vivo IPL points table.

Mumbai Indians had started their IPL 2018 campaign with three losses on the trot before a victory against Royal Challengers Bangalore, but the three-wicket defeat against Rajasthan Royals in Jaipur, their fourth last-over setback, put them under tremendous pressure. With nine games left before the play-off stage, Mumbai Indians find themselves in a difficult situation, as they need to win at least seven of them to improve their chances. As such, a win over SRH in today’s match will be imperative for them to be able to stay in the hunt. MI's campaign has so far seen few bright spots, such as local player and opener Suryakumar Yadav, the team's most consisten batsman who is only four runs short of the 200 mark in IPL 2018.

iPhone X sales slowdown: Suppliers struggle with high inventory low demand

Apple, iPhone X, iPhones

Investors hunting for clues to the iPhone X’s reception can take a deeper look at its main manufacturing partners. And the latest doesn’t look good.

Apple Inc.’s five largest device assemblers reported a sharp slowdown after peaking at the end of last year, suggesting demand for the high-end device may have faded just a quarter after its release.

While Hai Precision Industry Co., Pegatron Corp. and three other key suppliers reported an 8 percent rise in their total sales across the March quarter, growth slowed sharply later in the period - a drop that in the past has presaged a downturn for Apple.

The concern is that the iPhone X, while enjoying a customary holiday quarter spike for new-generation Apple gadgets, fizzled out rapidly. Apple’s costliest smartphone has struggled to draw customers in emerging markets, while competitors from Huawei to Xiaomi roll out more premium phones and dominate China - the US company’s biggest foreign market. On Friday, Morgan Stanley cut its estimate on iPhone shipments by 6 million, underscoring the growing unease since Taiwan Semiconductor Manufacturing Co., the maker of iPhone processors, issued a disappointing outlook that triggered a 7 percent loss in Apple’s value over just two days.

Petrol prices at all time high; high diesel prices hurt garment industry

India-made garments have the largest pie in US imports in H1

The President of Garment Manufacturers and Wholesale Association of Telangana, Pavan Bansal, on Monday said that the recent rise in diesel prices was affecting the garment industries all over the country. Bansal said, "Diesel rates have increased more than Rs. 10 in the last four years. This will impact the garment industry negatively raising the product of the price of the materials. It will lead to huge losses for the traders."

He added that diesel was an important commodity for the industries as it was more affordable than petrol prices.

Highlighting the importance of the fuel, Bansal further said, "Diesel is used in several industries on a daily basis, whether it is garment or manufacturing industry. Our materials come from all over India. We send garment materials to neighbouring states like Karnataka, Andhra Pradesh, Maharashtra and Tamil Nadu. We also sell the materials in local areas."

He also criticised the increase of Goods and Services Tax (GST) on raw products as it was becoming an additional burden on the traders.

Death penalty for child rape may not mean better justice, data shows

death penalty, rape, woman

About 90 per cent of child rape cases were pending trial in India in 2016, no more than 28 per cent of such cases ended in conviction, and there is a 20-year backlog in bringing cases to trial, the latest available national crime data show.

These data indicate the government move to prioritise a change to legislation that allows courts to grant the death penalty will not bring quicker or better justice because there is no plan to address conviction failures and court delays.

No more than 28 per cent of child rapes registered end in convictions, and there is a 20-year backlog of child-sex-abuse related court cases, according to the National Crime Records Bureau (NCRB), but the government has decided to add further legislation, permitting courts to grant the death penalty to those convicted of raping children below 12 years of age.

The new ordinance also adds a minimum punishment of 20 years to anyone who rapes a woman below 16.

Modi-Xi Wuhan summit: Why Chinese media thinks it's a good idea; 10 points

Prime Minister Narendra Modi with Chinese President Xi Jinping at the agreements exchange ceremony during BRICS Summit in Benaulim, Goa.Photo: PTI

The Narendra Modi-Xi Jinping summit in China's Wuhan city on April 27-28 will see the Indian Prime Minister and Chinese President discussing US President Donald Trump's "protectionist" trade policy and the "unprecedented" changes in the world order in the past 100 years, along with the contentious bilateral issues like China's Belt and Road Initiative (BRI), which includes the China-Pakistan Economic Corridor (CPEC), and the India-China border dispute, which came to a head during last year's Doklam standoff. Meanwhile, ahead of the meeting, official Chinese media commented that the Modi-Xi summit could be as significant as the one between former Indian prime minister Rajiv Gandhi and then Chinese leader Deng Xiaoping in 1988.

Ahead of the Modi-Xi summit, Defence Minister Nirmala Sitharaman and External Affairs Minister Sushma Swaraj on Tuesday attended the meetings of the defence and foreign ministers of the SCO in China. Swaraj on Tuesday slammed Pakistan for sheltering terrorists and urged the SCO to act against countries that promote terrorism.

Infosys' three-year road map gets a thumbs-up from analysts

Infosys' three-year road map gets a thumbs-up from analysts

Even as the January – March 2018 (Q4FY18) results failed to enthuse investors, most analysts have given a thumbs-up to the three-year road-map laid out by Infosys to accelerate growth in the digital segment.

Infosys, which detailed its strategy to analysts in post market hours on Monday, also reiterated its capital allocation policy of returning up to 70 per cent of free cash flow (FCF) with periodic review of return cash balances.

Analysts say the strategy spelt out on Monday is geared towards building a services centric business model. They, however, caution that the company now needs a stable top management as execution of this vision is key.

“We don’t see this as a stark contrast to the previous leadership but the focus is now clearly more on services centricity of the business model. Infosys has a fair share of digital revenues (25.5 per cent of sales), but the execution will need a stable leadership,” say Rumit Dugar and Aniket Pande of IDFC Securities in a report.

Analysts at Edelweiss Securities agree. They believe Infosys’ new leadership is refining the strategy from where the previous CEO (Vishal Sikka) left it. The thrust, they feel, remains on design thinking, artificial intelligence (AI) and digital; albeit with quick realignment to where clients’ spends are shifting. 

Bharti Infratel hits 52-week low on disappointing Q4 results

Bharti Infratel awaits 4G boost

Bharti Infratel hit 52-week low of Rs 316, down 3.6% on the market in intra-day trade after telecom tower company reported a lower than expected 2% year on year (Y-o-Y) rise in consolidated net profit of Rs 6.06 billion in March quarter (Q4FY18).
Analysts on average expected the company to post a profit of Rs 6.77 billion for the quarter.

Revenue of the company during the quarter under review grew 4% at Rs 36.62 billion against Rs 35.20 billion in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin declined to 43.8% from 45% in previous year quarter.

“Due to loss of 22,134 co-locations during the year on account of five operators ceasing to continue either on account of shutting down operations or merging with others, the financial results for the quarter showed lower growth rates on a Y-o-Y basis,” Bharti Infratel said in a media release.

Hindalco, Nalco slip 9% as US softens stance on aluminium producer Rusal

Novelis, Hindalco

Shares of National Aluminium Company (Nalco) and Hindalco Industries have fallen more than 9% on the market as fall in aluminium prices after the Trump administration has signalled it could ease sanctions against Russian aluminium producer Rusal.
Nalco has tanked 10% to Rs 75.85, while Hindalco Industries plunged 9.5% to Rs 232 on the National Stock Exchange (NSE) in early morning trade on Tuesday. Vedanta and Hindustan Copper were down 3% each on the NSE.

At 09:44 am; Nifty Metal index, the largest loser among sectoral indices, was down 2.7% as compared to 0.11% rise in the Nifty 50 index. The S&P BSE Metal index was down 3.4% in intra-day trade today.

LMEX, a gauge of six metals traded on the London Metal Exchange (LME), slipped 3% on Monday after fall in aluminium prices.

“Aluminum prices on the LME tumbled 8.7% on the U.S. Treasury Department announcement, which gives Rusal longer to sell off large quantities of aluminum it had been stockpiling in the wake of sanctions,” the Reuters report suggested. 

Alembic Pharma gains 5% on successful USFDA inspection of Panelav facility

Alembic Pharmaceuticals ups its US game plan, acquires Orit

Shares of Alembic Pharmaceuticals were up 5% at Rs 527 per share on the market in early morning trade after the company informed about the successful United States Food and Drug Administration (US FDA) inspection at its API facility at Panelav with zero 483s.
“The USFDA has conducted an inspection at Alembic Pharmaceuticals API Facility located at Panelav from 16th April, 2018 to 23rd April, 2018. This was a scheduled inspection and at the end of the inspection, there were zero 483s,” the pharmaceutical company said in a regulatory filing.

As per the USFDA, Form 483 notifies the company’s management of objectionable conditions based on observations made by its investigators about the conditions or practices which would “indicate that any food, drug, device or cosmetic has been adulterated or is being prepared, packed, or held under conditions whereby it may become adulterated or rendered injurious to health’’.

At 09:21 am; the stock was trading 4% higher at Rs 524 on the BSE, as compared to 0.39% rise in the S&P BSE Sensex. A combined 29,775 shares changed hands on the counter on the NSE and BSE so far.

Monday 23 April 2018

Child rapists: 76% people want death penalty for perpetrators, says Survey

Death penalty for rape.

A day after President Ram Nath Kovind gave his nod to an ordinance on the death penalty for rapists who attack children, a citizen survey shows that 76 per cent of the people agree with it.

According to the survey conducted by LocalCircles, 18 per cent voted for life imprisonment without parole for convicted rapists while three per cent said it should be a seven-year jail term (which is the current law).

To catch the citizens' pulse on the Protection of Children from Sexual Offences (POCSO) Act, LocalCircles conducted six nation-wide polls which received more than 40,000 votes.

In the second poll, 89 per cent agreed that they want their states to pass a law that awards death penalty within six months. Madhya Pradesh, Rajasthan, Haryana and Arunachal Pradesh have also passed a law that awards death penalty for child rape.

In another poll, which was about engaging more women officers to register cases of sexual assault, it was found that 78 per cent citizens were in support of every district level police station to have at least one woman officer.

IPL 2018: Will downbeat Delhi Daredevils get home advantage vs KXIP today?

Delhi Daredevils Glen Maxwell celebrates the wicket of Manan Vora during the IPL 2018 match against Royal Challengers Bangalore at Chinnaswamy Stadium in Bengaluru. Photo: PTI

In the 22nd match of Indian Premier League (IPL 2018), Delhi Daredevils will take on Kings XI Punjab at their home ground, Ferozshah Kotla in New Delhi. Bruised and battered after a string of defeats, Delhi Daredevils find themselves in an 'oh-so-familiar' situation -- at the bottom of the the Vivo IPL points table -- as they look to cash in on home advantage against a Chris Gayle-inspired Kings XI Punjap in today's IPL match. Kings XI Punjab, on the other hand, will look to beat Delhi and pip Chennai Super Kings for the top position on the points table.

Delhi Daredevils have been the least impressive of all teams in the past few seasons of Indian Premier League, only managing to finish in the bottom half of the IPL points table. In the previous two seasons, Delhi Daredevils ended their campaign at the sixth position, was a place lower in 2015, and finished last in IPL 2014. Once again in IPL 2018, they are having a bad time. They started their IPL 2018 campaign after losing their first two games against KXIP and Rajasthan Royals. Delhi clinched their first win against Mumbai Indians, thanks to a fine knock by foreign buy Jason Roy and wicketkeeper-batsman Rishabh Pant.

Asus launches Flipkart-exclusive Zenfone Max Pro M1: Know price, features

Asus Zenfone Max Pro M1

Taiwanese computer peripheral and smartphone manufacturer Asus has launched in India the Zenfone Max Pro M1 at Rs 10,999 for the 32 GM internal storage/ 3GB RAM variant,and Rs 12,999 for the 64GB internalstorage/4GB RAM one. Designed for Indian consumers, the smartphone boasts the bloatware-free stock Android Oreo 8.1, a modern 18:9 aspect ratio screen, dual rear cameras, and a mammoth 5,000 mAh battery.

Here is what we gathers from the first impressions of the Asus Zenfone Max Pro M1:

Design
In terms of design, the Zenfone Max Pro M1 looks similar to other modern budget smartphones such as the Redmi Note 5 and Note 5 Pro. The phone sports a 6-inch 18:9 aspect ratio screen that stretches the phone’s height and gives it a tall look – something that adds to the overall design theme.

Display
The smartphone sport a 6-inch 18:9 aspect ratio screen of fullHD+ (2160 x 1080) resolution. The screen seems to have a better contrast and sunlight legibility. The colour reproduction is satisfactory, if not perfect, and the 2.5D curved glass on top makes it easier to operate. The curved corners of the screen might not please everyone, but based on screen usage patterns and utility, they seem to look better than pointed edges.
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Jessica Lal murder: Sister Sabrina forgives Manu Sharma, okay with release

Jessica Lal

Almost 19 years after Jessica Lal was on April 29, 1999, shot dead at a private party hosted at a South Delhi pub, her sister Sabrina Lal has said that she holds no grudge against convict Manu Sharma, lodged at Delhi's Tihar jail for over 15 years now. Sabrina has said she has no objection to the release of the prime accused, Siddhartha Vashishtha, better known as Manu Sharma. She said she had forgiven the man who killed her sister and won't object if he was released.

Manu Sharma is currently serving life imprisonment in Tihar jail for having shot dead Delhi-based model Jessica, who was serving as a celebrity bartender at the pub that night, when she refused him a drink.

In a letter to the welfare office of Central Tihar Jail, Sabrina Lal has said that she has been informed about Manu Sharma’s charitable work during his stay in Tihar jail which has been helping inmates. Sharma has been shifted to open-jail on grounds of good conduct.

Man refuses to take Muslim driver's cab ride, Ola says it is secular

Ola, ola muslim driver, abhishek mishra, ola cab

Inciting communal sentiments to unfathomable levels, a man cancelled his Ola cab ride after he realised that the driver was a Muslim. As an act of casteist attitude, a verified Twitter user Abhishek Mishra, who apparently belongs to the Vishwa Hindu Parishad and Bajrang Dal, tweeted saying that he does not give to his money to “jihadi people”. He had attached a screenshot of his Ola cab booking which named the Muslim cab driver.

His tweet sparked a communal conversation on the micro-blogging site and was condemned by a host of Twitter users including the likes of Congress MP Shashi Tharoor and Delhi Congress leader Sharmistha Mukherjee.

Many said it was an act of encouraging religious discrimination in the country, asking Ola to block such hate-mongering users.

In response to Abhishek Mishra’s anti-Muslim tweet, ride-hailing company Ola issued a strong-worded statement saying that “the company is a secular platform and it does not discriminate its driver partners or customers based on their caste, religion, gender or creed. We urge all our customers and driver partners to treat each other with respect at all times”.

Down under, ‘King’ Kohli is thunder: Why Aussies are going gaga over Virat

The Indian skipper’s exploits apart, the broadcasters may have little choice: With local stars Smith and Warner banned, they might grab so...