UIDAI extends the deadline to deploy Virtual ID system to July 1

UIDAI has extended by one month to July 1 the deadline for service providers and agencies like banks and telecom companies to fully deploy Virtual ID system and accept these IDs in lieu of Aadhaar number.

The Virtual ID (VID) feature is aimed at giving users the option of not sharing their Aadhaar number at the time of authentication.

UIDAI - which had earlier said it will be compulsory for all agencies that undertake authentication to accept VID from their users from June 1, 2018 - has decided to give one more month after the user agencies said they needed more time to switch to the new system.

"We are ready but the agencies wanted some more time to switch to the VID system. We have, therefore, given one more month till July 1," UIDAI CEO Ajay Bhushan Pandey told PTI.

The extension was given considering the "difficulty and amount of internal work" involved for the agencies including telcos, banks, state governments, among others, he added.

Bypoll results 2018: Kairana has a loud message for Modi-Shah before 2019

The Kairana Lok Sabha bypoll result has yet again underlined the challenge that Narendra Modi-Amit Shah combine is set to face in 2019 against a united Opposition. The Bharatiya Janata Party’s (BJP’s) loss here is seen as yet another dent in the invincibility cloak of Prime Minister Modi and party chief Shah.

With the BJP likely to struggle a repeat of its 2014 performance in much of northern India, the Kairana loss puts into sharper focus Shah’s efforts at expanding the party in areas beyond the Vindhyas and Chota Nagpur plateau, and make inroads in the Coromandel coast states.

In 2019, the BJP needs to win in the northeastern states, West Bengal, Odisha, Andhra Pradesh and Telangana to offset its foreseeable losses in Rajasthan, Madhya Pradesh, Uttar Pradesh, Maharashtra, Gujarat, etc.

The BJP’s Kairana loss comes on the heels of its losses in recent Lok Sabha by-polls in Phulpur and Gorakhpur in eastern Uttar Pradesh, and Ajmer and Alwar in Rajasthan.

While the BJP emerged the single largest party in Karnataka, its failure to form the government jolted the confidence that its supporters had in Shah’s abilities as a ‘master strategist’. These are not good signs as Modi and Shah prepare for 2019, and the government has its work cut out for the remainder of its term.

Kerala announces cut in petrol, diesel prices by Rs 1 per litre from June 1

Amid soaring fuel prices, Kerala Chief Minister Pinarayi Vijayan on Wednesday said petrol and diesel prices in the state would be slashed by Rs one per litre from June 1.

A decision in this regard was taken at the state cabinet on Wednesday.

The reduction would cause a yearly loss of Rs 5.09 billion to the state exchequer on the tax front, he said.

The petrol price in the state on Wednesday was Rs 82 per litre, while for diesel it was Rs 75, he said.

"The Centre should reduce the rising fuel prices as it was causing severe hardship to the common man", Vijayan said, adding that by reducing the petrol and diesel prices in Kerala, the government has set an example for the Centre to follow.

Even as international crude oil prices are coming down, fuel prices in the country were going up, he claimed.

Times Higher Education Rankings: IISc back in top university list

The Indian Institute of Science (IISc) Bengaluru has made it to the list of top 100 in the Times Higher Education (THE) World Reputation Rankings 2018. The last time it was featured was in 2011.

The annual ranking highlights the top 100 global university brands, which now includes IISc in the 91-100 band.

Commenting on the rankings, Phil Baty, editorial director of Global Rankings for THE, said, “Only 100 institutions in the world make it to this annual list of the most powerful university brands, so it is a highly significant achievement to be included — and fantastic to see an Indian presence this year.”

The list was compiled from a globally representative survey of more than 10,000 senior academics. IISc was the only Indian institute to have made it this year.

“That prestige – that ‘brand’ – is vital for any university in attracting the necessary talent to allow it to compete and thrive, as well as drawing in strategic partners, philanthropy and investment. As initiatives to improve and internationalise the nation's higher education system gain momentum, I hope to see a strengthened Indian presence in this table in future years,” Baty said.

Overall, the US continues to dominate, with Harvard University taking the top spot for the eighth consecutive year, followed by Massachusetts Institute of Technology (MIT) and Stanford University at second and third place, along with 41 other US institutions, that made it to the top 100. The top 20 comprised of 13 American universities, four from the UK, two from China and one from Japan.

Bypoll result LIVE: Kairana, Noorpur show united Opposition's threat to BJP

Bypoll results 2018 will be out in a few hours as counting of votes for by-elections to four Lok Sabha seats and 10 Assembly constituencies will be held on Thursday.

The Lok Sabha seats that went to polls are Palghar and Bhandara-Gondiya in Maharashtra, the politically-crucial Kairana Lok Sabha constituency in Uttar Pradesh, and the Nagaland parliamentary constituency.

Further, by-elections were held in the Legislative Assemblies of Shahkot (Punjab), Tharali (Uttarakhand), Ampati (Meghalaya), Chengannur (Kerala), Jokihat (Bihar), Gomia (Jharkhand), Silli (Jharkhand), Maheshtala (West Bengal), Noorpur (Uttar Pradesh), and Palus Kadegaon (Maharashtra).

The Kairana results, in particular, will also serve as a test case for a united Opposition against the Prime Minister Narendra Modi-led Bharatiya Janata Party (BJP). The Kairana bypoll is also significant as it will test the ruling BJP's popularity in the electorally crucial state of Uttar Pradesh a year ahead of the 2019 general elections.   

Top trading ideas for today: Buy Godrej Industries, HDFC Life

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

NIFTY VIEW
Nifty has indicated a lower top formation in the daily chart but still clarity of directional movement of indices is still not maintained. With F&O segment expiry just around the corner, we anticipate volatility in the indices.

BUY GODREJ INDUSTRIES
CMP: Rs 580.55
TARGET: Rs 635
STOP LOSS: Rs 550
The stock has indicated a higher bottom formation pattern in the daily chart with intraday low taking support at the previous low made at around 525 levels and currently has showed a pullback to move past the 34 WMA moving average levels to signify potential and strength to rise still further in the coming days.

BUY HDFC LIFE
CMP: Rs 502.85
TARGET: Rs 560
STOP LOSS: Rs 470
The stock has indicated a higher bottom formation in the daily chart and currently has moved past the significant 50 DMA moving average to signify strength and potential to rise further in the near future. 

Gruh Finance hits record high ahead of 1:1 bonus issue

Gruh Finance hit a record high of Rs 736, up 5% on the BSE in intra-day trade on Thursday ahead of 1:1 bonus issue. The Company has fixed Thursday, June 7, 2018 as the record date for determining the entitlement of members to receive bonus equity shares of the Company in the ratio of 1:1 i.e. one new bonus equity share of Rs 2 each for every one existing equity share of Rs 2 each.
The stock will turn ex-bonus on Wednesday, June 6, 2018.

Gruh Finance outperformed the market by surging 20% since the board of directors at their meeting held on April 14, 2018 had recommended bonus issue. On comparison, the S&P BSE Sensex was up 2% during the same period.

In past one year, shares of housing finance company rallied 86% against 12% rise in the benchmark index.

At 10:00 am; the stock was trading 3.5% higher at Rs 727 on the BSE, as compared to 0.14% rise in the Sensex. The trading volumes on the counter more than doubled with a combined 408,747 shares changed hands on the BSE and NSE so far.

RCom gains 15% on settlement agreement with Ericsson

Reliance Communications (RCom) was up 15% to Rs 20.10 on the market in early morning trade after the National Company Law Appellate Tribunal (NCLAT) stayed the May 15 order of the National Company Law Tribunal (NCLT) in Mumbai, which had admitted the RCom and two of its subsidiaries for insolvency proceedings.
“The NCLAT vide its orders dated May 30, 2018 stayed, with immediate effect, all the three orders dated May 15, 2018 whereby NCLT had admitted the Company and its subsidiaries Reliance Infratel Limited and Reliance Telecom Limited to Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016,” RCom said in a statement.

RCom’s asset sale to Reliance Jio and Brookfield for an aggregate value of Rs 181 billion has been allowed to proceed by the Hon’ble NCLAT. The assets sale includes spectrum, fiber, telecom towers, MCNs and certain real estate assets in Delhi and Chennai, it added.

RCom expects to now complete the sale of its assets within the next few weeks, having removed legal hurdles of cases by minority investors of RITL, and Ericsson, thereby achieving an overall debt reduction of approximately Rs 250 billion from the first phase of its asset monetization program, the company said.

HDFC Bank, M&M from S&P BSE Sensex hit new high

Threee companies – HDFC Bank, Kotak Mahindra Bank and Mahindra & Mahindra (M&M) – from the S&P BSE Sensex hit their respective new highs, on the BSE in intra-day trade on Thursday in otherwise range-bound market.
HDFC Bank hit a new high of Rs 2,127, up 4% on the BSE in early morning trade, after its American Depository Receipts (ADR) surged nearly 9% on Wednesday. The stock surpassed its previous high of Rs 2,065 recorded on May 15, 2018 on the BSE in intra-day trade.

According to Business Standard report, the allotment of employee stock options (ESOPs) has created 143 basis points (bps) headroom for FIIs in HDFC Bank. This has created a last minute rush among foreign institutional investors (FIIs) wanting to buy HDFC Bank shares.

Market participants are expecting huge demand for HDFC Bank stock on June 1, when the window opens for FII buying. Brokerage firm Macquarie estimates a volume of $1 billion in the stock, when the window opens on June 1, added report.

Bareilly woman accuses BJP MLA from Badaun of raping her for two years

A woman from Bareilly has accused Bharatiya Janata Party (BJP) MLA from Badaun Kushagra Sagar of allegedly Raping her.

The victim claimed that Sagar raped her for two-year on the pretext of marrying her.

"My mother used to work in his house and I used to accompany her there. The BJP MLA promised to marry me and raped for two years. Now when he has become an MLA he has refused to marry me," the victim said.

The woman has filed a complaint with the police and has threatened to commit suicide if justice is not served to her.

"Will commit suicide if I do not get justice, I have been receiving threats as well and have become a subject of ridicule in society," she said.

Meanwhile, the police said the case has been registered in the matter and they have begun the investigation.

Electric vehicles could increase net carbon emissions in India: IEA

The International Energy Agency has said there will be a net increase in carbon emissions due to electric vehicles when considering life-cycle emissions in countries, like India and China, which have a carbon-intensive power generation mix.

In its report on electric vehicle, IEA says under the New Policies Scenario, India will reach an 11 per cent EV market share by 2030 (for all modes combined, excluding two- and three-wheelers where the share will be 70 per cent). Under the EV30@30 Scenario outlook, India’s electric mobility transition could develop a favourable policy environment and achieve a 25 per cent EV market share by 2030 across all modes, except two and three-wheelers where over 70 per cent of sales will be electric by the same year.

"This transition can be supported with the adoption of car and ride-sharing systems, suggesting that the country to some extent may leapfrog from a low personal vehicle ownership rate to shared mobility while access to motorised road-based mobility is growing," says the report.

While New Policies Scenario factors in transport and EV-related policies already announced, as well as their implications for technology developments and related spillover effects, looking at all road transport modes, the second scenario of EV30@30 reflects a policy case characterised by a wider adoption of EVs, in line with the global campaign applied at a global scale.

Belkin Boost-Up wireless charging pad: Tangle-free charging for smartphones

Pick up any flagship phone these days, and it features wireless charging. But there’s a catch: Almost no phone manufacturer bundles in a wireless charger. Thus, the customer, after paying big bucks for a phone with myriad features is often unable to use one of the most-touted ones.

A quick search on any shopping site reveals a wide range of wireless chargers, more specifically those which adhere to the Qi charging format. But most are from unknown Chinese manufacturers, and thus, there’s no guarantee about what they would turn out to be.

Thankfully, accessories major Belkin has a solution. The Boost-up Wireless Charging Pad (Rs 2,999) is compatible with most modern smartphones. I used it with the Apple iPhone X and the Samsung Galaxy Note8.

Initially, I faced a problem. The iPhone X had absolutely no charge, so I was apprehensive about whether I had placed it properly. Thankfully, there’s a green LED that lights up once the phone is aligned right. The charger comes in black and white, so you could match it with your phone’s colour. But, while there’s a microUSB cable in the pack, there’s no AC adapter.

Banks on 2-day nation-wide strike from today: Here's how it will affect you

Employees and officers of various public sector banks across the country are on a two-day strike starting today to protest a nominal 2 per cent wage hike offered by the Indian Banks' Association (IBA).

The strike is expected to hit bank customers hard as it may disrupt month-end salary credit operation. Further, the strike could trigger a country-wide cash crunch as ATMs of most banks would not be replenished in the next two-days. Several ATMs might even remain closed during the strike as security guards employed in these ATMs are also likely to participate in the protest.

Owing to the strike, operations such as clearing of cheques, money transfer, cash remittances, and deposit and withdrawals at branches will not be possible in the next two days.The United Forum of Banking Unions (UFBU), an umbrella body of nine bank unions, has demanded early wage review settlement, sufficient increase in salary and improvement in other service conditions and wage revision settlement for all officers up to scale VII.

In the last wage revision in 2012, which was for the period between November 1, 2012, and October 31, 2017, bank employees got a 15 per cent wage hike and AIBOC Joint General Secretary Ravinder Gupta said the unions were expecting a better salary increase this time.

Heavy rains rattle Mangalore as Cyclone Mekunu hits coastal Karnataka

Several houses were damaged and at least 12 people were injured as Cyclone Mekunu, which had wreaked havoc in Oman in Yemen over the weekend, hit the coastal Karnataka region on Tuesday, resulting in heavy rainfall.

Mangaluru and Udupi were the worst affected, with reports of property loss and waterlogging coming from several areas.

Here are the top updates on rains in coastal Karnataka:

1. Heavy rains are expected in Kerala and the coastal Karnataka region from May 29 to June 2, according to the National Weather Forecasting Centre predictions.

2. Schools in Karnataka will remain closed for the next two days in view of the rain forecast.

3. As many as 12 people have been injured, according to Dakshina Kannada Deputy Commissioner Saisikanth Senthil. Mangaluru was one of the most affected with at least 52 houses there being damaged in the rains, according to media reports. Five rehabilitation centres have been opened and compensation for the injured will be announced on Wednesday, ANI reported.

4. Prime Minister Narendra Modi took cognizance of the matter and said that all assistance would be provided for those affected in the rains. "I pray for the safety and well-being of all those affected by heavy rains in various parts of Karnataka. Have spoken to officials and asked them to ensure all possible assistance in the affected areas," he tweeted.

Manpasand Beverages remains under pressure; stock plunges 42% in 3-days

Manpasand Beverages was locked in lower circuit for the third straight day, down 10% at Rs 248, also its fresh 52-week low on the market. The stock tanked 42% in past three trading days from Rs 431 after the Deloitte Haskins and Sells resigned as auditor of the company with effect from May 26, 2018. The auditor put their resignation due to lack of information provided the company for the purposes of audit of the financial results.

Manpasand Beverages informed on Sunday that the board meeting scheduled on Wednesday, May 30, 2018 to consider audited financial results and to recommend dividend, if any, has been cancelled, due to sudden resignation of existing auditors.

Everything related to financial results announcement and the timing of this event is purely coincidental and has no direct correlation. The board meeting has been postponed and the new date will be announced shortly, the company said on Monday in a regulatory filing.

However, auditor Deloitte Haskins and Sells in letter date May 26, 2018 said that significant information requested by us from the Company at various points of time for the purposes of audit of the financial results have not yet been provided to us.

Glenmark Pharma hits 52-week low on subdued Q4 results

Shares of Glenmark Pharmaceuticals hit a fresh 52-week low of Rs 484 per share, slipping 9% on the BSE in early morning trade, after the company reported a decline of 17% in its consolidated net profit at Rs 1.52 billion for the quarter ended March 2018 (Q4FY18), on account of de-growth in US business. The drug company had profit of Rs 1.84 billion in the same quarter last fiscal.
On the National Stock Exchange (NSE), the stock was down 5% to Rs 506 in intra-day trade.

The company’s consolidated revenue during the quarter under review decreased by 7% to Rs 22.80 billion against Rs 24.57 billion in the corresponding quarter of previous year. US revenue declined 30% to Rs 7 billion from Rs 10 billion in previous year quarter.

Earnings before interest, taxation, depreciation and amortization (ebitda) margin stood at 17.4% from 15.97% in a year ago quarter.

“While FY2018 was a challenging year mainly on account of pricing pressure in the U.S., our other key markets like Europe and India performed well on the back of new product launches. Even though we expect pricing pressure to persist, we are glad that FY2019 has started on a positive note for us with approvals for some interesting products in the U.S.,” said Glenn Saldanha, chairman & managing director, Glenmark Pharmaceuticals.

Merck hits record high; stock zooms 18%

Shares of Merck hit a new high of Rs 2,369 per share, up by 18% on the BSE on back of heavy volumes in otherwise weak market.
Since April 19, 2018, the stock of pharmaceutical company has zoomed 57% from Rs 1,510, after the Procter & Gamble Overseas India made mandatory open offer to acquire 26% stake in the company at price of Rs 1,500.36 per share.

Procter & Gamble Overseas India BV together with the Procter & Gamble Company (P&G Group) set to acquire 8.6 million equity shares of Rs 10 each of Merck representing 51.80% of the voting share capital for an aggregate purchase price consideration of up to Rs 12.90 billion.

The acquirer is set to acquire 4.3 million equity shares of Rs 10 each constituting 26% of the total outstanding capital of Merck Ltd (India) through open offer for a price of Rs 1,500.36 each. The offer opens on June 13, 2018 and close on June 26, 2018.

Merck is planning to transfer certain businesses comprising exclusively of the biopharma, performance materials and life sciences (BPL) segments to Merck Life Science Pvt Ltd for a consideration of Rs 10.52 billion after shareholders and other statutory approvals.

RBI monetary policy: Four charts show markets are preparing for a rate hike

The interest-rate cycle in India is turning. The central bank may be set to tighten policy next week to keep inflation in check and stem the declines in the rupee if the rate-market moves are any indication.

The Reserve Bank of India hasn’t tinkered with rates since August, and even cut inflation projections last month, raising expectations that borrowing costs would remain on hold. But a surprising hawkish tilt revealed in its April policy minutes and the recent spike in oil has boosted speculation the authority may lift rates at its June 6 meeting.

“Front-end bonds are fully pricing in a 25-basis point hike in June,” said Suyash Choudhary, head of fixed income at IDFC Asset Management Co. in Mumbai. “Even accounting for some higher supply absorption premium, one can say that a 75-basis point increase seems to be comfortably discounted over the next year.”

Some hits, some misses in Modi's first term: Does he deserve a second one?

Four years ago this week, Narendra Modi was sworn in as India's prime minister amid the kind of excitement and expectation not seen in decades. Not for 30 years had a single party won an electoral majority. Modi's success, his rhetoric and his background all seemed like a decisive break with India's past -- one which many Indians were eager to embrace.

What precisely was expected from Modi? Surely, that's one fair way to judge how his government has done as he makes a bid for reelection next year. As far as economic policy goes -- which was where the previous Congress administration had disappointed the most -- voters hoped to see three things: less corruption, greater decisiveness in policymaking and more market-friendly reform.

Even Modi’s critics have to admit – and welcome – the fact that he’s made real progress on all three. Even his fans, though, must acknowledge that given its advantages, his government hasn’t lived up to its potential.

India shows how sexual assault against women can hold back rise of nation

There are two things New Delhi marketing executive Khyati Malhotra never leaves home without: Her taser and a pepper spray.

It’s just part of the investment she makes to stay safe in a country where crimes reported against women have surged over 80 percent in a decade and deadly cases of sexual violence often roil cities and villages. So a chunk of Malhotra’s salary goes into a car and driver to avoid the dangers of public transport, where women are cat-called, groped and assaulted.

In Bangalore, Vidya Laxman, an executive at a multinational in India, pays for a battalion of household help and security cameras to keep her children safe. Sajna Nair of Delhi figures she’s lost almost $200,000 in earnings after quitting a bank job because she couldn’t find safe childcare for her daughter.

In recent months, the rape, torture and murder of an eight-year-old girl in the state of Jammu, an 11-year-old in Gujarat and the rape of 16-year-old in Uttar Pradesh have laid bare how India treats its women and children. Lawmakers have said they will push for more stringent punishments to deter such crimes. Meanwhile, dozens of interviews reveal a less acknowledged economic effect: Increasingly afraid for their own and their children's safety, many women are simply leaving the workforce or taking lower-paying jobs.

Faulty EVMs: Keep your bedsheets handy for next elections; here is why

As hundreds of voters patiently waited to cast their votes in the blistering heat while dysfunctional electronic voting machines (EVMs) were replaced in three parliamentary constituencies in Uttar Pradesh and Maharashtra, the by-polls on Monday saw a moderate turnout of bedsheets to tackle the problem of EVMs being damaged from extreme heat, harsh sunlight and dust.

The local polling stations around the constituencies took their own little precautions like covering the windows with bedsheets, cloth cover near the EVMs and even installing fans to protect the machines from extreme heat or dust.

The poll panel said less than one per cent of voting machines, but over 11 per cent of VVPATs were replaced, even as it sought to put the blame on "extreme heat" and mishandling by some polling staff.
Of the total 2,097 EVMs deployed, 156 machines in different areas of the constituency malfunctioned, but the officials were quick to tackle it, said Palghar Collector Prashant Narnaware.

"The sensors of these EVMs are extremely sensitive to heat, light and dust pollution. We were alerted on this by the Election Commission (EC) beforehand. We faced problems even during the first level checks carried out on these machines a few days ago," he said.

Vivo X21 with fingerprint sensor under glass launched: Know price, features

Vivo, a Chinese mobile phone brand, is one of the first smartphone manufacturer to launch consumer-ready notch screen-based smartphone the Vivo V9 in India. Now, in another first, the company has launched an in-screen fingerprint sensor-based device the Vivo X21. Priced at Rs 35,990, the Flipkart-exclusive smartphone will go on sale starting May 29.

The Vivo X21 is a flagship smartphone with top of the line specifications. The phone sports a vivid fullHD+ super AMOLED 6.28-inch notch-based screen, which has an embedded fingerprint sensor at the lower bottom. The phone boasts premium glass-metal-glass sandwich design, which look plush and in-line with other premium offerings.

Vivo X21 specifications and features

Powering the smartphone is a rather modest Qualcomm Snapdragon 660 system-on-chip (SoC), paired with mammoth 6GB of RAM and 128GB of internal storage, expandable up to 256GB using microSD card.

The dual-SIM smartphone boots Android Oreo out of the box covered under company’s customised skin called as the Funtouch OS 4.0. The phone takes its power from 3,200 mAh battery, which supports quick charging. However, instead of USB type-C, the phone uses a microUSB port for charging and data transfers.

CBSE 10th result: Can't access cbse.nic.in? Here's how to check your score

CBSE class 10th results 2018 have been announced. The Central Board of Secondary Education (CBSE) has released the results on its official website — cbse.nic.in. CBSE students can also check their results on cbseresults.nic.in and cbse.examresults.net. CBSE results were earlier expected to be announced at 4 pm today but it has been preponed by almost two hours.

131,493 students have secured 90 per cent and above, according to Times of India. 27,476 students have scored 95 per cent and above.

Other websites that will show the CBSE 10th results 2018 are -- Google search page, Bing search page, UMANG app.

How to check the results when you are offline
If you're not connected to the internet, you can also check your score through Microsoft's application's SMS Organizer. SMS Organizer is a free Android app available on Google Play Store.
All you need to do is download the application from the Google Play Store and register with your roll number and school code for your CBSE class 10th results.
Pre-registered users will receive a notification for the CBSE Class 10th result once it is out. By clicking on the link, a scorecard will appear. As the entire scorecard is sent via SMS, you can check the CBSE Class 10th result without internet connectivity, said Microsoft, while explaining the process in a video.
Students can also access their results via SMS charged at 50 paise per SMS

Over 1.6 million students appeared for the Class 10 exams this year.

STEPS TO CHECK CBSE CLASS 10 RESULT 2018:

— Go to the CBSE official website cbse.nic.in

— Click on CBSE Class 12th Result 2018 or CBSE Class 10th Result 2018

— Enter your admit card details and get your CBSE Class 10 Result 2018

— Download your CBSE Result 2018 for future reference

Students can access their results via SMS charged at 50 paise per SMS

D-Mart, Varun Beverages, Radico Khaitan, Edelweiss Financial hit new highs

Shares of Avenue Supermarts that runs the D-Mart retail stores, Radico Khaitan, Varun Beverages, Edelweiss Financial Services, Biocon, Hexaware Technologies, Kotak Mahindra Bank and MM Forgings were among 13 stocks from the S&P BSE 500 and Smallcap index that hit new high on the BSE in otherwise range-bound market.
Berger Paints, JMC Projects, GMM Pfaudler, Take Solutions and Pidilite Industries, too, hit their respective all-time highs on the BSE in intra-day trade today. On comparison, the S&P BSE Sensex was trading 0.41% lower at 35,021 points at 01:55 pm.

Radico Khaitan rallied 9% to Rs 479 on the BSE. Thus far in the month of May, the stock surged 14% after the company reported a more than doubled net profit at Rs 342 million in March 2018 quarter. It had profit of Rs 166 million in the same quarter last fiscal.

MM Forgings surged 10% to Rs 1,292, extending its previous day’s 4% gain on the BSE after the board of directors of the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus equity share for every one share held on the record date.

Hexaware Technologies hit a new high of Rs 459, up 6% on the BSE, gaining 19% post March quarter results on May 4, 2018. The company reported a better than expected 11% sequential growth in its consolidated net profit at Rs 1.34 billion in March quarter (Q1CY18). Revenue grew 4.4% at Rs 10.49 billion over the previous quarter.

Analysts on an average had expected profit of Rs 1.29 billion on revenue of Rs 10.37 billion from the information technology company. On CC (constant currency) terms revenue growth was 3.3% at $161.2 million against analyst estimate of 2.5% during the quarter.

BHEL surges 9% as Q4 profit rises more than double

Shares of Bharat Heavy Electricals Limited (BHEL) have moved higher by 9% to Rs 86.45 per share on the market in noon deal after the state-owned company reported a more than double standalone net profit of Rs 4.57 billion in March quarter (Q4FY18). It had a profit of Rs 2.16 billion in the same quarter last fiscal.
Operational income during the quarter under review however remained flat at Rs 98.29 billion against Rs 98.74 billion in the corresponding quarter of previous year. Total expenditure of the company declined 9.9% to Rs 92.01 billion from Rs 102.08 billion during the quarter.

However, the company's net profit and operational income were below an average analyst estimate of Rs 4.76 billion and Rs 110.11 billion, respectively.

The board has recommended final dividend @ 51% (Rs 1.02 per share) on the paid up share capital of the company for FY 2017-18.

At 12:45 pm; the stock was trading 8% higher at Rs 85.30 on the BSE, as compared to 0.21% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than four-fold with a combined 31.25 million shares changed hands on the BSE and NSE so far.

Manpasand Beverages tanks 20% second straight after auditor resigns

Manpasand Beverages is locked in lower circuit for the second straight day, down 20% at Rs 276 on the market. The sharp falls comes after the Deloitte Haskins and Sells resigned as auditor of the company with effect from May 26, 2018.
The stock hit a fresh 52-week low today, plunging 36% in past two trading sessions from Rs 431 on Friday. A combined 64,180 equity shares changed hands and there were pending sell orders for 1.69 million shares on the BSE and NSE at 09:47 am; the exchanges data shows.

Manpasand Beverages informed on Sunday that the board meeting scheduled on Wednesday, May 30, 2018 to consider audited financial results and to recommend dividend, if any, has been cancelled, due to sudden resignation of existing auditors.

Everything related to financial results announcement and the timing of this event is purely coincidental and has no direct correlation. The board meeting has been postponed and the new date will be announced shortly, the company said on Monday in a regulatory filing.

Larsen & Toubro extends gains on strong Q4 operational performance

Shares of Larsen & Toubro (L&T) were trading 3% higher at Rs 1,421 per share on the market in early morning trade, extending their 5% gain in the past one week, after the company reported better than expected operational performance in March 2018 (Q4FY18). The stock was 4% away from its all-time high of Rs 1,470 touched on February 1, 2018 on the BSE in intra-day trade.
Engineering conglomerate L&T reported a 5% year-on-year increase in its consolidated profit after tax (PAT) at Rs 31.70 billion in Q4FY18 on improved operational performance. The firm’s revenues from operations were Rs 406.80 billion, 11% higher than Rs 366.20 billion reported in the corresponding quarter a year earlier.

Earnings before interest, taxation, depreciation and amortisation (Ebitda —an indication of operating profitability) came in at Rs 53.90 billion, or 23% higher than Rs 43.80 billion reported in the same quarter a year back.

“L&T’s operational performance was marginally above estimate led by recovery in infrastructure margins and benefit of Bangaluru asset sales. Margins (Ex services) improved 70bps yoy during the quarter led by strong execution, benefit of asset sales and cost rationalization initiatives taken by the company. Order inflow was quite strong at Rs 496 billion in Q4 and Rs 1,529 billion in FY18 (higher than management guidance),” IIFL Wealth Management said in result update.

Newly elected Karnataka Congress MLA S B Nyamgoud dies in road accident

Senior Congress legislator Siddu Bhimappa Nyamgoud from Karnataka's Bagalkot district died in a road accident on Monday, police said.

He was 71 and leaves behind his widow, two sons and three daughters.

"The accident occurred near Tulasegeri village when the car in which Nyamgoud was travelling crashed into a divider after the driver lost control while trying to avoid a head-on collision with a truck," Tulasegiri police inspector M B Biradar told IANS.

Bagalkot is 530 km from state capital Bengaluru and 20 km from Tulasigeri.

Four persons, including the driver, were injured. They have been admitted to a hospital in Bagalkot.

"The legislator was travelling to Jamkhandi via Bagalkot from Panaji in Goa upon his return from Delhi on Sunday night," Biradar said.

Nyamgoud was re-elected to the state Assembly in the May 12 election, defeating BJP's Kulkarni Shrikant Subrao by 2,795 votes.

The veteran party leader was a Union Minister in the P V Narasimha Rao cabinet in 1990-91.

Chief Minister H D Kumaraswamy and many Congress leaders mourned his untimely death.

Ujjwala has led social change, 45% of beneficiaries dalits and tribals: PM

Prime Minister Narendra Modi on Monday said that the 'Ujjwala Yojna', a flagship welfare scheme of his government aimed at increasing LPG cylinder coverage among poor families, has led to a social transformation with over 45 per cent of its forty million beneficiaries being Dalits and tribals.

In an interaction with the scheme's beneficiaries, he underlined his government's pro-Dalit credentials by comparing benefits given to the community under it against what they received under the Congress-led UPA government.

While Dalits got 445 petrol pumps under 2010-14 during the UPA rule, more than 1200 of them got it during 2014-18 in his government's rule, he said, adding that the corresponding figures for LPG distribution centres for the community are over 900 and 1300.

"Since people started to get benefits under the Ujjwala Yojna, a big social transformation is visible. I am happy to tell you that out of its four crore beneficiaries 45 per cent are Dalits and tribals," he said.

IPL win: Dhoni says fitness counts, not age, of CSK's 30-plus brigade

Chennai Super Kings' fairy tale comeback is a proof that fitness matter more than age, said skipper Mahendra Singh Dhoni after guiding his team to a third IPL 2018 title.

At the auction, CSK were criticised for picking up nine players in their 30s including Shane Watson and Ambati Rayudu, who eventually were instrumental in the team's triumph.

"We talked a lot about age but what matters is the fitness. Rayudu, for example, is 32, he's someone who is fit, covers a lot of ground. Even if he plays a few games where he spends a lot of time on the ground and in the field, he never complains. So it is the fitness that really matters more than the age aspect," said the 36-year-old Dhoni after the crushing win over SRH.

"What captains want is players who move well in the field. It doesn't matter which year a player is born in, whether you are 19 or 20 - you have to be agile. You have to accept your shortcomings.

"For example, if I push Watson to stop a single, there is a very good chance that he'll burst his hamstring and won't be available for the next game. So what you tell yourselves is that they have to commit and try, but there's no point getting injured for a single," said Dhoni before adding the CSK squad will be heading to Chennai tomorrow for further celebrations.

Nipah Virus: Symptoms, precautions, facts, cure and more details here

The recent outbreak of Nipah Virus in Kerala is worrisome. Here is a guide informing you about the disease, its symptoms and prevention.

Nipah falls under the category of Zoonotic diseases like Ebola, HIV, mad cow disease and rabies, which can spread from animals to humans. 

Nipah was added to the list of Zonotic diseases in 1998-99 when there was an outbreak of an unknown illness in the Malaysian village of Sungai Nipah. Hence, the disease “Nipah” got its name from the village it first broke into.

The virus, which causes the disease, is commonly found in various species of fruit bats, considered carriers of the disease.

Because of the widespread dispersion of the bat species Pteropodidae across the globe, Nipah outbreaks have been observed in countries including Australia, Bangladesh, India, Philippines, Indonesia, Vietnam, Cambodia, China, Thailand, Iran, Madagascar and most of the Africa.  

CBSE Class 10 result 2018 on May 28; download marks at cbse.nic.in; updates

CBSE Class 12 result was released today. CBSE Class 10 Result 2018 will be declared on May 28. According to a media report, Central Board of Secondary Education may declare CBSE 10th result on Monday. CBSE will release the results on its official website cbse.nic.in or cbseresults.nic.in. Central Board of Secondary Education (CBSE) announced CBSE 12th result on Saturday with the overall pass percentage of 83.01 percent. The top three regions were Thiruvananthapuram with 97.32 percent, Chennai 93.87 percent, and Delhi with 89 percent.

"The board congratulates all the students. The girls have taken a lead of 9.32 percent ahead of boys. The pass percentage has also increased by 1 percent. There are nine toppers this year with the first topper at 499 marks, the second topper 498, and seven toppers at 497 marks," Public Relations Officer (PRO) CBSE Rama Sharma said.

"The CBSE has also set up special counselling facility for dealing with post-result anxiety. The toll-free number 1800-11-8004 can be accessed from any part of the country," she further added.

Sun Pharma rallies 6% post Q4 results

Shares of Sun Pharmaceutical Industries have rallied 6% to Rs 496 per share on the BSE in early morning trade after the drug maker reported a net profit of Rs 13.08 billion in March 2018 quarter (Q4FY18) as against Rs 12.23 billion in the same quarter last year aided by one-time tax gain of Rs 2.59 billion.
Revenue from operations declined 2% to Rs 67.11 billion on account of continued pressure in the US market.

“The decline in revenue is primarily driven by the US and the API businesses. All other businesses have recorded positive growth for the quarter,” Sun Pharma said in a press release.

EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved to 21.1% from 18.1% in previous year quarter.

Dilip Shanghvi, Managing Director of the Company said, “Our Q4 performance is in-line with our guidance. Over the last four quarters, we have been able to record a gradual improvement in performance despite a challenging US generic pricing environment.

Tech Mahindra falls 5% on profit booking post Q4 results

Shares of Tech Mahindra have dipped 5% to Rs 668 per share on the BSE in early morning trade on profit booking after the company reported a better than expected 29.6% quarter-on-quarter growth in its consolidated net profit at Rs 12.22 billion in March 2018 quarter (Q4FY18). The S&P BSE Sensex was trading 0.61% or 214 points higher at 35,139 points at 10:42 am.
Operational revenue grew 3.6% at Rs 80.54 billion on sequential basis. In dollar terms, Tech Mahindra reported 2.9% sequential growth in revenue at $ 1,244 million during the quarter.

Analysts on an average had expected profit of Rs 9.32 billion and revenue of Rs 79.42 billion for the quarter.

Tech Mahindra has reported 120bps improvement in EBITDA margins for the quarter at 17.5% led by sharp improvement in utilization, seasonal tailwind from mobility business, improved business mix and favourable currency. Company has reported margin beat in each of the four quarters in FY18 and Q4FY18 EBITDA margin is up 550bps YoY.

“The company is confident of the FY19 demand outlook, with improvement in growth in telecom business and expects enterprise business to grow in line with industry growth. There is lot of activity on 5G technology however; it is difficult to give a timeline for 5G related spends. Company expects further benefits from the margin improvement program to accrue over next 4 quarters driven by automation, improvement in performance of portfolio companies and increase in offshore proportion,” analysts at Antique Stock Broking said in Q4FY18 result review.

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

NIFTY
CLOSE- 10605.15 (25.05.2018)
The market closed the week in positive territory after high volatility during the week. It made a low of 10,430.35 levels on nifty & 34,302.89 levels on sensex during week. It looks like possibility of end of wave-II correction as mentioned last week.

Stock Picks:
DHFL- BUY
CLOSE – Rs 616.05
TARGET – Rs 645/680
DHFL closed weekly in positive territory. It looks like end of short term consolidation. It’s outperforming in short term. It’s trading above 40 DMA. Its weekly momentum indicators are in BUY. One can BUY with stop loss of 590 for the target of 645/680 levels in short term.

AXIS BANK- BUY
CLOSE – Rs 538.45
TARGET – Rs 560/580
AXIS BANK closed weekly in positive territory.Its trading above 20DMA. Its weekly momentum indicators care BUY. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 514 for the target of Rs 560/580 levels in short-term.

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

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

NIFTY VIEW
Nifty has bounced back from the low of 10,420 making a higher bottom formation pattern in the daily chart but needs to confirm the continuation of the rally only after it breach the levels of 10,650 decisively.

BUY YES BANK
CMP: Rs 339.40
TARGET: Rs 370
STOP LOSS: Rs 325
The stock has given a short correction from the peak of 369 to bottom out at around 325 levels and taking support at the significant 200 DMA levels it has made the chart look attractive to anticipate a bounce from here on. With the positive bullish candle pattern formed in the daily chart and also with the RSI indicator showing a trend reversal to signal a buy, the stock is poised for further rise from here on and the risk reward ratio has become favourable. We recommend a buy in this stock for an upside target of 370 keeping a stop loss of 325.

BUY APOLLO TYRE
CMP: Rs 279.50
TARGET: Rs 300
STOP LOSS: Rs 269
The stock has been consolidating at around 274 levels and currently has produced a positive bullish candle pattern in the daily chart to signify strength and potential to rise further in the coming days. The stock has maintained above the 200 DMA moving average and has indicated a positive bias and with the RSI showing a trend reversal has indicated a buy signal. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 300 keeping the stop loss of 269.

Bengaluru's Embassy Group partners with Amazon to power smart homes

As it marks its entry into the premium-affordable housing segment, Bengaluru-based real estate giant Embassy Group is turning to technology to woo customers in an effort to offer a truly differentiated experience from its rivals.
The company is dabbling with the idea of smart homes and has roped in Amazon to fit every apartment in its upcoming Embassy Edge project in North Bengaluru with Echo smart speakers and accompanying smart devices.
Homeowners will be able to control lights and appliances with their voice and will even be able to remotely monitor their homes through Amazon’s service. The project will have a little over 800 homes and will be completed in the next four years.
“Being the first in real estate to bring this integration of voice-enabled homes in India, we believe that this will revolutionize the residential sector. We will be replicating this concept in our other residential projects across micro markets,” said Jitu Virwani, Chairman and Managing Director, Embassy Group.
Virwani’s idea is that the company needs to do something different to modernise homes for the tech savvy buyers especially in a city like Bengaluru. The Embassy Edge project which will offer 1 to 3 bhk apartments at a cost ranging from Rs 3.6 million to Rs 8.1 million will largely target buyers working in the city’s IT and ITeS sectors.

Exercise your legs for healthy brain

Exercising your legs is necessary for a healthy brain and nervous system, said a new study that showed that neurological health depends on signals sent by leg muscles to the brain and vice versa. The results gave doctors new clues as to why patients with motor neuron disease, multiple sclerosis, spinal muscular atrophy and other neurological diseases often rapidly decline when their movement becomes limited. Reducing exercise makes it difficult for the body to produce new nerve cells -- some of the very building blocks that allows one to adapt to stress and challenges in life. "Our study supports the notion that people who are unable to do load-bearing exercises -- such as patients who are bed-ridden, or even astronauts on extended travel -- not only lose muscle mass, but their body chemistry is altered at the cellular level and even their nervous system is adversely impacted," said Raffaella Adami from the University of Milan, in Italy. During the study, the researchers restricted mice from using their hind legs, but not their front legs for a period of 28 days. They continued to eat and groom normally and did not exhibit stress. The findings, published in the journal Frontiers in Neuroscience, showed that limiting their leg activity decreased the number of neural stem cells by 70 per cent compared to a controlled group of mice, which were allowed to use their legs. Further, they found that restricting exercise lowered the amount of oxygen in the body, which created an anaerobic environment and alters metabolism.

Petrol, diesel prices to fall soon? Govt may have found solution; 10 points

Petrol and diesel prices may fall soon as the government is mulling a 'windfall tax' on oil and gas companies for any revenue that they earn from prices crossing $70 a barrel. Subsequently, this tax revenue will be used to pay fuel retailers like Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) to absorb the hike in fuel prices.

Meanwhile, oil prices continued to rally upwards for the 12th day straight on Friday with petrol and diesel being hiked by 32 and 18 paise, respectively.

According to the Indian Oil Corporation (IOCL), revised petrol prices in metropolitan cities are: Delhi (Rs 77.83 per litre), Mumbai (Rs 85.65 per litre), Kolkata (Rs 80.47 per litre), and Chennai (Rs 80.80 per litre). The revised diesel prices are: Delhi (Rs 68.75 per litre), Mumbai (Rs 73.2 per litre), Chennai (Rs 72.58 per litre), Kolkata (Rs 71.30 per litre).

Cong bags Karnataka speaker's post ahead of Kumaraswamy floor test: Updates

Turmoil over government formation in Karnataka will end soon with newly sworn-in Chief Minister H D Kumaraswamy facing a floor test in Bengaluru on Friday to prove his majority. While Kumaraswamy should sail through smoothly with the Janata Dal (Secular)-Congress coalition's support behind him, two possible irritants for the health of his government have already emerged.

One of the possible threats Kumaraswamy faces is from a repeat of Bharatiya Janata Party's (BJP's) 'Operation Kamala', while the other has emerged from his coalition partner, the Congress, which has said that no decision has been taken on the full extent of his tenure as chief minister.

The coalition, however, received a major boost ahead of the floor test on Friday. Congress leader K R Ramesh Kumar was unanimously elected as Speaker of the house after BJP withdrew its leader Suresh Kumar's candidature for the post.

Kumaraswamy was sworn in at a grand assembly of Opposition and regional leaders, hailing from parties looking to form a joint front against the BJP ahead of the 2019 Lok Sabha elections, on Wednesday.

IPL 2018 Qualifier 2, KKR vs SRH: Kolkata eye home benefit in today's match

In Qualifier 2 of Vivo Indian Premier League (IPL 2018) Kane Williamson-led Sunrisers Hyderabad (SRH) will take on Dinesh Karthik's Kolkata Knight Riders (KKR) at Eden Gardens in Kolkata on Friday. A two-time champion, KKR will be aiming to exploit SRH's recent run of poor form when the two teams square off in what promises to be a high-octane IPL Qualifier 2 match. KKR stormed into the IPL Qualifier 2 by defeating Rajasthan Royals by 25 runs at the same venue, while Sunrisers Hyderabad lost to Chennai Super Kings by 2 wickets in a nail-biting encounter in Mumbai in Qualifier 1. SRH got the benefit of being one of the top two teams in Vivo IPL points table and received a second shot at qualifying for the final tie, while Rajasthan, which entered the playoffs ranked fourth were knocked out.

KKR have ticked all the right boxes in theior past few IPL 2018 matches, with four wins on trot. Table-toppers Sunrisers, on the other hand, have slipped after finishing on top of the league table; they now have 4 consecutive lost matches behind them.

Call it complacency or the lack of performance from their middle order, SRH have lost four straight games, something that will be a cause for concern to Kane Williamson's team. Arguably the best bowling side of IPL 2018, with Bhuvneshwar Kumar, Siddharth Kaul and Sandeep Sharma delivering consistently along with the immensely talented Rashid Khan, Sunrisers will like to extract whatever juice is available from the Eden Gardens track.

TCS market cap crosses Rs 7-trillion mark; stock hits new high of Rs 3,668

Tata Consultancy Services (TCS) , the country's biggest software services exporter, saw its market capitalisation (market-cap) cross Rs 7-trillion mark, adter the stock price of the company hit a new high of Rs 3,668 on the BSE in early morning trade.
At 09:19 am; TCS was trading 1.7% higher at Rs 3,666 have market-cap of Rs 7.91-trillion, the BSE data shows.

Since April 19, TCS has outperformed the market by surging 16% after the company’s board had recommended bonus issue in the ratio of 1 equity share of Re 1 each for every 1 equity shares of Re 1 each held by the shareholders of the company as on the record date. On comparison, the S&P BSE Sensex was up 0.74% during the same period.

The company has fixed Saturday, June 2, 2018 as the record date for determining the entitlement of members to receive bonus shares in the ratio of 1:1. The stock will turn ex-bonus on Thursday, May 31, 2018.

TCS had also reported a strong set of numbers in March 2018 quarter (Q4FY18) as well as for 2017-18 (FY18), backed by all-round growth in key verticals and geographies, and digital services and solutions. The company posted double-digit revenue growth in dollar terms in Q4 for the first time in the last 12 quarters. The management was confident of sustaining this growth rate in the coming quarters.

MCX rallies 8% on merger talks with NSE

Shares of Multi Commodity Exchange of India (MCX) have rallied 8% to Rs 775 per share on the BSE in early morning trade after media reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.

The two entities are planning to approach market regulator Securities and Exchange Board of India (Sebi) as early as this month, according to an official. The merger will help NSE and MCX cement their leadership position both in the equities and commodity derivatives space, the Business Standard reported. CLICK HERE TO READ FULL REPORT

At 09:39 am; MCX was trading 6% higher at Rs 762 on the BSE, as compared to 0.43% rise in the S&P BSE Sensex. A combined 398,087 equity shares changed hands on the counter on the BSE and NSE so far.

Top stocks to buy today: Glenmark and Infosys

NIFTY OUTLOOK - Nifty has finally reversed after having fallen for 8 consecutive days. It has strongly closed in the positive territory from quite an oversold territory; hence a further bounce can’t be ruled out. The recent decline is the first leg of the downside that has started from 10920 levels.

Buy GLENMARK
Target: Rs 570
Stop Loss: Rs 507
Glenmark Pharma has reversed well from the lower end of the falling channel and the momentum indicators too have provided a positive buy crossover which is quite positive for the short term. The minimum retracement target on the upside comes to 570; one can buy this with a stop loss of 507.

Buy INFOSYS
Target: Rs 1,270
Stop Loss: Rs 1,186
Infosys has provided a good breakout from an ascending triangular pattern with an increase in volumes and a buy crossover in its momentum indicators. The stock is forming higher tops and bottoms and it has been trading well in an upward sloping parallel channel, hence the probability of it reaching the upper end of the channel is quite high. SO, we recommend to buy Infosys for the target of 1270 with a stop loss of 1186.

Modi government and stock market: What lies ahead?

During the last four years of Modi government, the entire market cap of all Bombay Stock Exchange (BSE) went up by whopping 73% to Rs.145 lakh crore now from Rs.84 lakh crore as of May 2014. This is phenomenal considering the fact that the base of domestic market cap grew exponentially in this millennium – from a meagre around Rs.6 lakh crore in 2000 to over Rs.84 lakh crore in May 2014, a rise of over 14 folds!

Bold initiatives on economic reform front by the Modi government seem to have helped the capital markets to rise by such phenomenal levels by re-rating of overall market valuations. This bull phase in the market was not accompanied by any robust liquidity infusion from the FIIs, nor supported by strong earnings growth. While the previous UPA government period, the domestic equity markets attracted over Rs.4.80 lakh crore from the FIIs cumulatively, the same so far in this present government regime is around Rs.1.69 lakh crore, which is about 38% of what our markets received during the previous UPA regime (FY2010 to FY2014).