#MeToo: Nana Patekar responds to CINTAA, dubs Dutta's charges as 'baseless'

Actor Nana Patekar has dismissed as "motivated and malicious" the allegations of sexual harassment levelled against him by actor Tanushree Dutta in his reply to the Cine and TV Artists' Association (CINTAA).

Patekar claimed that Dutta had not made any accusations against him in 2008, when the alleged incident took place.

Patekar, through his lawyer Aniket Nikam, sent his reply earlier this week after CINTAA issued a notice to him upon a complaint filed by Dutta.

Dutta has alleged that Patekar misbehaved with her during the shooting of a song for the film "Horn Ok Pleaseee" in 2008.

Also, when she refused to shoot for the song, Patekar and the film's producer summoned goons to the set who threatened her and damaged her car, she alleged.

"My client (Patekar) denies in toto (completely) the baseless and unsubstantiated allegations, insinuation levelled by Dutta," the reply said.

Patekar has been subjected to mental harassment due to the "motivated and malicious" vilification campaign, it said.

#Metoo: Sushant Singh Rajput denies harassment issue by Sanjana Sanghi

Sushant Singh Rajput has been accused of sexual misconduct by his "Kizie Aur Manny" co-star Sanjana Sanghi. In his defence, the actor shared screenshots of their SMS conversation and called it a "smear campaign".

Sushant on Friday tweeted snapshots of his conversation with Sanjana from the first day to the last day of the film's shoot, and captioned it: "I feel sad to reveal personal information but it seems that there is no other way to state what was, in the midst of this curated and well-timed smear campaign.

Sushant Singh Rajput
@itsSSR
 I feel sad to reveal personal information but it seems that there is no other way to state what was, in the midst of this curated and well timed smear campaign. From the first till the last day of the shoot, this is what happened on the Set with Sanjana. (1/2)

7:54 AM - Oct 19, 2018
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"From the first till the last day of the shoot, this is what happened on the set with Sanjana."

Sanjana has accused the 32-year-old actor of behaving inappropriately on the sets of the movie, saying he made her feel "uncomfortable" with his "overly friendly behaviour" during the shoot in Jodhpur.

On Thursday, Twitteratis pointed at Sushant's missing blue verification tick on the micro-blogging platform following the claims.

However, Sushant on Friday clarified: "For all those deliberately using the missing of Twitter 'blue tick' to substantiate their false claims, allow me to tell you that it is not there since September 5. Get your facts checked before jumping to conclusions that you so eagerly want to.

As health apps enter medical mainstream is there a way to bring some order?

The heart rate monitor built into the new Apple Watch has sparked sharp debate over its risks and benefits, even though the feature was cleared by the Food and Drug Administration.

But out of the spotlight, the FDA has been doing away with regulatory action altogether on many diagnostic health apps targeting consumers, seeking to accelerate digital health adoption by defining many of these as “low risk” medical devices.

As the number of mobile health apps surged to a record 325,000 in 2017, app performance is going largely unpoliced, leading to what’s been dubbed a “Wild West” situation. Unfortunately for health consumers, the public can’t rely on the research community to play the role of sheriff.

When colleagues and I recently examined the medical literature on direct-to-consumer diagnostic apps in a study published in Diagnosis, we repeatedly found studies marred by bias, technological naïveté or a failure to provide crucial information for consumers. There was also a glaring lack of studies with actual consumers to see how they use these apps and what the impact on individual health, whether for better or worse, might be.

Sabarimala temple: 2 women attempt entry, protestors send them back

An entry point near the Lord Ayyappa temple in Sabarimala on Friday virtually turned into an area of confrontation.

A large number of devotees opposing the entry of women of the menstrual age group blocked two women -- a reporter from Hyderabad and another said to be an activist from Kerala -- at the Valiya Nadappandhal near Sabarimala Sannidhanam.

Inspector General S Sreejith heading a team of police personnel providing security cover to the women assured the protesting devotees chanting Ayyappa mantra that they would not like to move forward to the Sannidhanam with the women, hurting the sentiments of devotees.

Amid mounting pressure, Devaswom Minster Kadakampally Surendran said in Thiruvananthapuram the activists should not try to make holy land of Lord Ayyappa a place to prove their strength.

Police is holding discussions with the women who still insist they should reach the shrine.

Panasonic launches 'Ray 530' smartphone under 'Eluga' series for Rs 8,999

Expanding its "Eluga" series with "Big View" display, Panasonic on Wednesday launched "Ray 530" smartphone for Rs 8,999 in India.

The dual-SIM smartphone comes with a 5.7-inch HD+ display, 3GB RAM, 32GB internal storage and face unlock feature.

The device also comes with Panasonic's trademark Artificial Intelligence (AI)-enabled assistant -- Arbo Hub.

"The 'Eluga Ray 530' is a performance powerhouse that offers exceptional features such as high definition display, stylish looks, and the AI - Arbo Hub - our one stop app to make life easier," said Pankaj Rana, Business Head, Mobility Division, Panasonic India.

Running on Android Oreo 8.0, powered by 1.3 GHz Quad-Core Processor and 3000 mAh battery, the device features a 13MP rear camera with auto focus (AF) and a 5MP selfie shooter with flash.

"Eluga Ray 530" is available for purchase in black and blue colour variants on various online platforms.

Man orders mobile phone-worth Rs 9,000 from online site, gets brick instead

A man here in Maharashtra has filed a complaint against a leading online retailer for allegedly sending him a piece of brick instead of a mobile handset that he ordered, police said Wednesday.

Gajanan Kharat, a resident of HUDCO area here, told the police that on October 9, he placed an order for a mobile phone on the shopping site and also paid Rs 9,134 for it, Harsul police station inspector Manish Kalyankar said.

Kharat subsequently received a message from the e-commerce company that the product would be delivered in a week's time.

The man received a packet from the retailer last Sunday. However, when he opened it, he allegedly found a piece of brick inside it instead of the mobile handset, Kalyankar said.

The man then called up the courier delivery man, who told him that their responsibility was only to deliver the parcel and not to see what was inside it, he said.

Kharat lodged a complaint Tuesday against the e-commerce company at the Harsul police station here.

The police official said they have registered a case under IPC sections pertaining to cheating and are probing it.

Will continue to back #MeToo: Nandita Das on allegations against father

Actress-filmmaker Nandita Das, whose father -- artist Jatin Das -- has been accused of sexually harassing a woman, says while she will continue to add voice to the #MeToo movement, she believes the truth will prevail in the "disturbing allegations" against the Padma Bhushan recipient.

"As a strong supporter of the #MeToo movement, I want to reiterate that I will continue to add my voice to it, despite the disturbing allegations made against my father, which he has categorically denied," Nandita posted on Facebook.

"I have maintained from the very start that this is the time we all need to listen, so that women (and men) feel safe to speak up. At the same time, it is also important to be sure about allegations so as not to dilute the movement. I am touched by the number of people - friends and strangers - who are concerned and are trusting my integrity. I do believe truth will prevail. And that is all I have to say on this matter," she added.

Conservationist Nisha Bora on Tuesday accused Jatin Das of sexually harassing her at his Khidki village studio in 2004. Das refuted the allegation as "ridiculous and vulgar".

Cong 'raider, 24-hr political drama & 'switch-over' race for Goa top post

Early local lore tells of the Ranes as feared Maratha raiders, who would ride into erstwhile Goa and plunder wealth from the region's wealthy folks.

In contemporary times, the Congress over the last two days, must have felt the heat of yet another raid -- to be more specific by a descendant of one of the several Rane clans -- Health Minister Vishwajit Rane, who has claimed credit for the switch-over of two Congress MLAs into the BJP's pocket.

Now-former MLAs, Subhash Shirodkar and Dayanand Sopte on Tuesday, joined the BJP at a formal ceremony in the national capital, putting not just the Congress in a tight spot, but also BJP's allies Goa Forward and Maharashtrawadi Gomantak Party.

The switch-over has left the Congress and the BJP tied at 14 legislators each, with the Congress no longer in a position to claim the single largest party (in the state assembly) status and exercise their privilege before the Governor to stake claim to form a government.

It also leaves the ruling allies Goa Forward and Maharashtrawadi Gomantak Party, some of whose members were flirting with the Congress with a toppling game in mind, with very little room to manouvre, especially now after the BJP's central and state leadership have threatened them with the dissolution of the state assembly.

#MeToo: Varun Grover calls harassment accusation 'traumatic', seeks closure

Writer-lyricist Varun Grover has penned an open letter in response to an anonymous allegation of sexual harassment against him on Twitter, saying there is an "earnest need" from his side to prove his innocence as he wants closure.

Grover, who has been a vocal supporter of #MeToo movement, said the allegation against him has not only affected his mental health and professional life but also his ability to take a social stand.

"Revolutions are beautiful. They are cathartic, powerful, necessary, and like #metoo - inevitable. And revolutions, inevitably, have some collateral damage too," Grover said in a post on Medium, which he shared on Tuesday.

"...Am I angry? Yes. Is my mental health in shambles? Yes. Do I occasionally feel like a victim of an agenda? Yes. And would I still say 'Believe All Women'? Yes. But please bring in the checks to differentiate it from 'Believe All Screenshots'. Revolutions can be messy but they can't be perceived as unjust."

The "Sacred Games" writer said it had been a traumatic week for him but he is confident that he can prove the anonymous allegation against him to be false.

Google Pixel 3 review: Phone's smarts shine through its AI-driven camera

Apple and Samsung typically show off glitzy hardware innovations — dual-lens cameras; bigger screens — to mesmerize millions into buying their new smartphones. Google has taken a different approach: It wants to sell people on better software.

That was abundantly clear with the Pixel 3, the search giant’s latest smartphone, with software features powered by artificial intelligence and machine learning. When you take a blurry photo, for example, the Pixel’s camera software can capture a series of alternate images and look for a clearer shot. When you get a call from an unknown number, you can use a screening tool to determine if it is a robocall. (I recommend using this feature with caution — more on that later.)

“The phone is powered by A.I. so that we let Pixel do really useful, delightful things,” said Mario Queiroz, Google’s vice president of Pixel hardware. “The phone doesn’t get in the way. Things just happen for you.”

The Pixel 3, which will be available on Thursday, is a modest piece of hardware otherwise. It comes in two screen sizes — 5.5 inches and 6.3 inches — that are slightly smaller than phones from Apple and Samsung. The smaller Pixel costs $799; the larger one is $899.

With elections in sight, low food prices are a budget problem for PM Modi

A low inflation spell in an election year should be good news for any government, right? Wrong.

For Prime Minister Narendra Modi, the subdued inflation numbers, due largely to low food prices, may present a budget problem. His government may have to shell out more to compensate farmers for low market prices of some crops under a plan announced this year with a view to double farm incomes by 2022.

“India’s falling food prices could become a bane for Modi,” said Soumya Kanti Ghosh, chief economic adviser at the nation’s largest lender State Bank of India. “A bumper harvest that’s led to crashing of food prices will increase the burden on the government to compensate farmers.”

In July, the government raised support prices of crops such as cotton, soybeans and paddy rice to ensure farmers get at least 50 per cent more than the estimated production costs. That means in the event of a crash in market prices, the government would have to chip in and ensure the sale of the produce by farmers at guaranteed prices.

Huawei Mate 20-series launch: Watch livestream, know likely specs, features

Huawei, a Chinese smartphone manufacturer, would be unveiling the Huawei Mate 20-series today (October 16) in an event in London, UK. Like previous Mate¬-series launches, the company is expected to unveil at least two new premium smartphones. Named the Huawei Mate 20 and Mate 20 Pro, these smartphones would be the first to be powered by company’s proprietary Kirin 980 system-on-chip with dual neural processing units (NPUs) for advanced artificial intelligence and machine learning capabilities. These phones would also be the first in Mate-series to get triple camera module on the back, which was first introduced in the Huawei P20 Pro (review).

Although, no information with regard to the upcoming smartphones have been officially confirmed, the rumour mill hints at some of the specifications and features of the Mate 20 and Mate 20 Pro that might turn out to be true eventually. Let’s take a look at what to expect from the duo of premium smartphones:

The Pro edition in the Mate 20-series is expected to be the higher-end variant. The phone is expected to get a curved OLED screen of QHD+ resolution.

The screen would have a notch on the top that would accommodate front camera, earpiece and sensors, along with infrared sensor and dot projector for advanced face unlock mechanism. The Pro edition would also get an in-display fingerprint sensor.

Google Pixel 3 or Apple iPhone XR - which one will you buy? Click to vote

Search engine and technology giant Google on October 9 launched the third generation of Google Pixel smartphones – the Google Pixel 3 and Google Pixel 3 XL. The Pixel 3-series smartphones get dual front cameras, new format screens, software improved imaging capabilities and support for fast wireless charging. These smartphones will be available in black, not pink and clear white colours from November 1. However, before the Pixel 3 sale, Cupertino, the US-based technology giant Apple would also be launching the iPhone XR, the most affordable smartphone in the company’s current generation line-up.

Google Pixel 3 and Pixel 3 XL

The Pixel 3-series has a glass-metal-glass design with a matte paint covering the lower back side. Though these phones continue with a single primary camera, they now have a dual camera module on the front for selfies. Both the phones are powered by Qualcomm Snapdragon 845 system-on-chip, paired with 4GB of RAM. The Pixel 3 has a 5.5-inch 18:9 aspect ratio OLED screen of fullHD+ resolution.

Apple iPhone XR

The iPhone XR has a 6.1-inch LCD screen of 1792 x 828 resolution. Like the iPhone XS and iPhone XS Max, the display supports wide colour gamut with colour management system. The screen supports tap to wake feature and Apple True Tone technology, which uses six-channel light sensor to subtly adjust the white balance on screen to match the colour temperature of the surrounding light. In terms of imaging, the iPhone XR features a 12-megapixel camera on the back of f/1.8 aperture size and wide angle lens. The camera is backed by optical image stabilisation.

Delhi air pollution: Know govt's emergency plan to avoid smog filled winter

Last winter, the Delhi-NCR suffered one of the worst bouts of pollution. The entire region was in the grip of haze and smog. Now, the dreadful pollution is back to the national capital and its nearby states. Meanwhile, recent satellite images from the NASA showed that farmers in Punjab and Haryana have started burning crop residue earlier this month.

On Sunday, the air quality in Delhi remained poor, as the overall air quality index (AQI) recorded at 10 am Sunday stood at 208 which falls in the poor category, according to Centre-run System of Air Quality and Weather Forecasting and Research (SAFAR).

The PM10 level (presence of particles with diameter less than 10 micrometres) in Delhi stood at 183 and the PM2.5 level was recorded at 93, according to the data.

Authorities have predicted further deterioration of air quality in the coming days.

An emergency action plan has been implemented from Monday to combat air pollution that has begun to show a trend towards poor category.

53-year-old Air India air hostess falls off plane at Mumbai airport

A 53-year-old air hostess was injured Monday after falling off an Air India aircraft which was getting ready for departure at the Chhatrapati Shivaji International Airport in Mumbai, the airline said.

The incident took place in the morning on the Air India's New Delhi-bound flight AI 864, it said.

The airline termed the incident as "unfortunate" and said that it was investigating into it.

"In an unfortunate incident, one of our cabin crew (members), Harsha Lobo, fell down on the tarmac from the Boeing-777 aircraft door while closing it," the airline said in a statement.

"She sustained injuries to her legs and has been taken to the Nanavati Hospital for further treatment," it added.

About three years ago, an Air India engineer had got sucked into the aircraft's engine at the airport here when the pilots started the engines prematurely after mistaking a signal.

Coal scam: Naveen Jindal, others get bail in money laundering case

Coal Scam -A Delhi court on Monday granted bail to industrialist and Congress leader Naveen Jindal and 14 others, accused of money laundering in a case pertaining to irregularities in the allocation of a Jharkhand coal block.

Special Judge Bharat Parashar granted the relief on a personal bond of Rs 100,000 and one surety of the like amount.

Besides Jindal, those granted relief are Jindal Steel and Power Ltd's then adviser Anand Goel, Mumbai's Essar Power Ltd's Executive Vice-Chairman Sushil Kumar Maroo, Nihar Stocks Ltd's Director BSN Suryanarayan, Mumbai-based KE International's Chief Financial Officer Rajeev Aggarwal and Gurgaon-based Green Infra's Vice-President Siddharth Madra.

Those arrayed as accused also include K Ramakrishna Prasad, Rajiv Jain and Gyan Swaroop Garg.

The case filed under the provisions of the Prevention of Money Laundering Act (PMLA) pertains to the allocation of the Amarkonda Murgadangal coal block in Jharkhand.

S&P tumbles 3% as US yields soar, investors shun risk; Dow falls 831 points

US stocks tumbled on Wednesday, with the S&P 500 and the Dow marking their biggest daily declines since Feb. 8, and technology stocks were at the centre of the carnage as rising US Treasury yields sent investors fleeing from risky assets.
US long-dated Treasury yields rose again in extension of a trend over the last few weeks fuelled by solid US economic data that reinforced expectations of multiple interest rate hikes over the next 12 months.

Investors also worried about the impact of trade tensions on corporate profits and Hurricane Michael's landfall in Florida adding to the uncertainty.

The Nasdaq registered its biggest daily drop since June 24, 2016, hurt by technology stocks which had their biggest one-day drop since August 2011. The S&P 500 ended the day down 3.3%, representing a 4.95% drop from its Sept. 20 record closing high.

"It's a bit of a blood bath today, clear risk-off action with few places to hide. Gold is up a little bit. The Vix is up more substantially," said Ed Campbell, senior portfolio manager at QMA, the asset management branch of Prudential Financial.

Garden Reach Shipbuilders adds to dull IPO scorecard: All you need to know

Garden Reach Shipbuilders & Engineers has joined the league of firms whose shares are available in the secondary market at a price lower than that in their IPO. Shares of the company ended 13 per cent over their IPO price after their stock market debut, on Wednesday.

Shares of more than 60 per cent of companies that have listed since 2017 are currently below their IPO price. The latest correction in the market has further weighed on the performance, with shares of almost all 58 stocks coming of at least 15 per cent from their peak.

Barring half a dozen companies, the secondary market performance for most firms has been tepid. This is despite huge demand for shares during the IPO. Investment experts say the poor scorecard will weigh on investor appetite for forthcoming IPOs.

Investors are better off buying shares of existing companies rather than investing in IPOs if there are no gains to be made, said an expert. 

Asian stocks mixed as treasury yields stabilise from seven-year peak

Asian stocks traded mixed on Wednesday, as yields on Treasuries retreated from a seven-year peak. The dollar edged lower against major currencies.

Shares in Japan rose after four days of losses, while those in China reversed gains. Hong Kong stocks outperformed their South Korean counterparts, lagging after a holiday.

Earlier, the S&P500 Index was dragged down by materials shares, after a profit warning in the sector, while technology shares rebounded from a three-day rout. Treasuries steadied with the yield on the 10-year benchmark little changed at 3.21 per cent, while the greenback remained under pressure after US President Donald Trump said the Federal Reserve is moving too fast with interest-rate hikes.

Asian investors are assessing increasingly attractive valuations against a backdrop of deepening US-China tensions and a surge in volatility for stock and bond markets.

ESAF Small Finance Bank raises Rs 4.64 bn via private placement of shares

ESAF Small Finance Bank has completed private placement of its common stock worth Rs 4.64 billion.
PNB MetLife India Insurance Co Ltd, Bajaj Allianz Life Insurance Co Ltd and ICICI Lombard General Insurance Co Ltd, along with seven other investors, took a stake in the small finance bank.

PNB MetLife India Insurance and ESAF Multi-State Co-operative took a stake of 4.99 per cent each in the bank. Bajaj Allianz Life Insurance and ICICI Lombard General Insurance picked up 4.08 per cent and 1.45 per cent stake, respectively.

ICICI Securities Ltd served as the advisor for the private placement. Polymath Advisors, Mumbai, also associated with ESAF SFB in these transactions.

With the infusion of additional capital, the net worth of the bank has increased to Rs 8.07 billion and the CRAR to 27.9 per cent. The proceeds from the private placements will be used for general corporate purposes, capital management and to support future growth.

ESAF has collected Rs 3 billion worth of deposits in the first half of the financial year and has added 2.5 million customers. At present, the bank has 422 banking outlets, which include 297 ultra-small branches and 125 new retail banking outlets spread across 11 states in India.

Buy IndusInd Bank, Sun Pharmaceutical Industries, says Religare Broking

IndusInd Bank Limited
Rec: BUY
Last Close: Rs 1,607.90
Initiation range: Rs 1,600-1,610
Target: Rs 1,740
Stop loss: Rs 1,530

INDUSINDBK has witnessed decent profit taking from its record high and currently hovering around the support area of 100 EMA on the weekly chart. Considering its chart pattern and oversold positions, we expect marginal consolidation followed by strong rebound ahead. The rise in volume also indicates buying interest. We advise traders to use this phase and accumulate in the given range.

Sun Pharmaceutical Industries Limited
Rec: Buy
Last Close: Rs 609.75
Initiation range: Rs 605- Rs 610
Target: Rs 645
Stop loss: Rs 588

In line with other pharma majors, SUNPHARMA has also rebounded strongly of late, after retesting its crucial price support zone around 430 levels and witnessed breakout from a bullish reversal pattern. Currently, it has been consolidating near its support zone of short moving averages (50/100) EMA’s on the daily chart, offering an opportunity for fresh buying.

ACC Limited
Rec: Sell October Futures
Last Close: Rs 1,464.70
Initiation range: Rs 1,480- Rs 1,490
Target: Rs 1,410
Stop loss: Rs 1,520

Mostly cement counters are struggling at present and ACC is no different. It has posted a breakdown of late from its distorted bearish pattern and likely to witness a fresh fall in near future. The confirmation indicators are also in sync with the view. We advise traders using any uptick to initiate fresh short positions in the mentioned zone.

Bajaj Auto Limited
Rec: Sell October Futures
Last Close: Rs 2,550.10
Initiation range: Rs 2,600- Rs 2,620
Target: Rs 2,470
Stop loss: Rs 2,680

BAJAJ-AUTO has witnessed breakdown from a distribution pattern of late and likely to see gradual decline ahead. Besides, overall weakness in auto index is adding to negativity. We advise initiating shorts on any technical bounce within the given range.

Top trading ideas by HDFC Securities: Sell Eicher Motors, Pidilite

Nifty outlook and top technical calls by Vinay Rajani, technical analyst at HDFC Securities:

Nifty View
Nifty is in continuation of a downtrend. Near-term support for Nifty is placed at 10,200, below which further panic selling may emerge. Far support for Nifty is placed at 9,875. Resistances for the Nifty is seen at 10,410, above which short-term trend would reverse from bearish to bullish.

SELL EICHER MOTORS
CMP: Rs 21,086
Target: Rs 19,500
Stop loss: Rs 22,300
The stock price has been forming lower tops and lower bottoms on the short-term charts. The stock has been trading in a narrow range for last 4 trading session. The stock is likely to resume its downtrend by breaking down below the short-term consolidation. We recommend selling Eicher Motors for the target of 19,500, keeping SL at 22,300.

SELL PIDILITE
CMP: Rs 914
Target: Rs 860
Stop loss: Rs 950
The stock price has broken down below long-term upward sloping trend line on the weekly chart. The stock price has reached below its 200 DMA. Short term moving averages are trading below long-term moving averages, indicating a bearish trend. Lower tops and lower bottoms have started forming. We recommend selling Pidilite Industires for the target of 860, keeping SL at 950.

Buy Dhampur Sugars at a target of Rs 168, SL of Rs 120: Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:

NIFTY VIEW
Nifty is attempting to hold 10,200 levels with all the volatility and other factors bringing a constraint to an up move. Amidst all sectors in a current market scenario, IT and Pharma sectors are well placed which could be the market movers. The support for the day is seen at 34,030/10,220 while resistance is seen at 34,500/10,360. Bank Nifty would have a range of 24,240-24,800. FMCG and Auto continue to be in corrective phase.

BUY AUROBINDO PHARMA
CMP: Rs 766.75
TARGET: Rs 850
STOP LOSS: Rs 710
The stock has made a higher bottom formation pattern in the daily chart with the current positive bullish candle has moved past the 34WMA moving average to signify strength and has potential to rise further in the coming days. The chart looks attractive and with the RSI also indicating a trend reversal has made the bias positive to signal a buy in this stock. With decent consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 850 keeping a stop loss of 710.

BUY DHAMPUR SUGARS
CMP: Rs 142.70
TARGET: Rs 168
STOP LOSS: Rs 120
The stock has been on the rise after the formation of a higher bottom pattern in the daily chart and currently has moved above the significant 200DMA to show strength and we anticipate the stock to move further upward in the coming days. The volume has been on the rise in recent times and with the chart looking good technically, we recommend a buy in this stock for an upside target of 168 keeping a stop loss of 120.

Free fall: Volatile week erodes one-year gains for large-cap schemes

Large-cap schemes that were holding fort among the actively-managed plans have started giving in amid the rise in market volatility.

These schemes have seen most of their one-year returns getting wiped off in the last seven trading sessions. As of September 27, the average returns for these schemes stood at 10.3 per cent. Following last week’s sell-off, the one-year returns have fallen to just about 1.5 per cent, shows the data from Value Research. Experts say selling by foreign institutional investors (FIIs) is hurting large-caps as FIIs investments are largely parked in them.

“Investor sentiment in non-banking financial companies (NBFCs) — several of which are large-cap companies — has got hit as a result of the IL&FS crisis. Even big names like HDFC have not managed to escape the selling pressure seen in the NBFC space. The global headwinds have also hit investor sentiment,” said a fund manager, who wished not to be identified.

Buy Asian Paints for target of Rs 1370, SL of Rs 1190: Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:

NIFTY VIEW
Nifty with its one way fall from 11,750 to a low of 10,200 with oversold zone, a bounce is expected up to 10,500-10,550. The support for the day is seen at 34,220/10,280 while resistance is seen at 34,730/10,420. Volatility index too in its overbought zone, its time it retraces which would bring instability under control. Bank Nifty would observe a range of 24,350-24,880. A close below 10,260 would negate the view and perhaps witness new round of selling.

BUY ASIAN PAINTS
CMP: Rs 1,247.80
TARGET: Rs 1,370
STOP LOSS: Rs 1,190
The stock has corrected from the peak of 1490 and currently has shown signs of bottoming out at around 1190 levels and produced a positive bullish candle to signify strength and potential to rise further in the coming days. The chart looks attractive for initiating a buy call and with RSI indicating a trend reversal from the highly oversold zone, a positive bias has been maintained. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 1370 keeping a stop loss of 1190.

BUY BATA INDIA
CMP: Rs 893.80
TARGET: Rs 1,000
STOP LOSS: Rs 840
The stock has witnessed a steep correction in the past one month from the peak of 1115 to indicate signs of bottom out at around 845 levels and has made the chart look very attractive. The RSI has witnessed a steep fall and currently from the oversold zone has indicated a pullback with a trend reversal to maintain a positive bias and also with good volume activity maintained in the stock, we recommend a buy in this stock for an upside target of 1000 keeping a stop loss of 840.

Asia stocks hit 17-month low on higher US bond yields, trade war concerns

Asian shares hit 17-month lows on Tuesday as investors fretted about everything from the Chinese economy, to trade wars, higher US bond yields and political dysfunction in Europe.

"Risk sentiment is in a foul mood and stocks aare sinking everywhere," said analysts at JPMorgan in a note. "The reasons are myriad and many are a continuation of recent overhangs."

MSCI's broadest index of Asia-Pacific shares outside Japan eased another 0.15 per cent after ending Monday at its lowest point since May last year.

Japan's Nikkei fell 1.1 per cent as it resumed from a one-day holiday, hurt in part by a rise in the safe-harbour yen.

Eyes were again on China, where blue chips shed 4.3 per cent on Monday in the largest daily drop since early 2016. While the stock market in China is far from a reliable gauge of economic activity, sharp falls do spill over into sentiment across the region.

IL&FS jitters erode 12.5% of MF assets; AUM shrinks to Rs 22 trn in Sept

The crisis linked to Infrastructure Leasing & Financial Services (IL&FS) has hit the mutual fund (MF) industry hard, with 12.5 per cent, or Rs 3.16 trillion, of industry assets getting shaved off in a single month. Total assets under management (AUM) shrunk to Rs 22.04 trillion in September from Rs 25.2 trillion at the end of August.

Most of the damage was due to record outflows from liquid and fixed-income schemes, where large investors invested. The two schemes saw outflows of Rs 2.4 trillion in September — the most since at least January 2008. The pullout in debt market schemes alone accounted for close to 10 per cent of August’s AUM tally.

Industry participants attribute the sharp pullout to nervousness among corporate investors following the IL&FS default, which had quasi-sovereign status. The large amount of outflow has caught the industry by surprise. Industry had earlier estimated outflows in such schemes at around Rs 1 trillion. 

Cotton output may fall 4.7% due to scant rainfall, pink bollworms: CAI

Cotton production in 2018-19 is likely to fall 4.7 per cent from the previous season to 34.8 million bales, as scant rainfall and an attack of pink bollworms are expected to squeeze crop yields, the head of a leading trade body told Reuters.

The drop in output could limit exports from the world’s biggest producer of the fibre amid rising demand from top consumer China and in turn support global prices, which are hovering near their lowest level in more than nine months hit last week.

“In Gujarat, we are expecting a big drop in production due to dry weather,” said Atul Ganatra, president of the Cotton Association of India (CAI).

Gujarat, the country’s top cotton producing state, received 28 per cent lower rainfall than normal in the June-September monsoon season, according to the India Metrological Department.

OMCs recover after two-day sell-off; HPCL jumps 6%, IOCL, Gail gain 4% each

Shares of oil & gas and state-run oil marketing companies (OMCs) rose in the early morning deals on Monday, after witnessing heavy sell-off in the last two trading sessions.

At 09:52 am, Hindustan Petroleum Corporation (HPCL) was trading nearly six and a half per cent higher at Rs 176 a piece on BSE while Bharat Petroleum Corporation (BPCL) was trading at Rs 274, up 3.32 per cent. Shares of IndianOil was trading over 4 per cent higher at Rs 123.05.

Investor confidence in public sector oil and gas companies and OMCs took a massive hit last week after the government announced cut in excise duties in petrol and diesel prices by Rs 2.50 per litre and asked the refiners to absorb a Re 1 per litre cut in excise duty on petrol and diesel.

After the announcement, global brokerages such as Goldman Sachs and Citigroup Global Markets downgraded the stocks saying the imposition of price controls was an 'unequivocal negative' that underscores 'high political risk' associated with state-owned enterprises.

IL&FS group shares locked in lower circuit; ITNL, IL&FS Engg fall 10%

Shares of three listed IL&FS group companies are locked in their respective lower circuits on the BSE after the rating agency Brickwork Ratings downgraded the rating for the non-convertible debentures (NCDs).

IL&FS Engineering and Constructions (IECCL) and IL&FS Transportation Networks (ITNL) are frozen 10% lower circuits at Rs 22.70 and Rs 27.25, respectively, while IL&FS Investment Managers down 5% at Rs 9.81 on the BSE. There were only sellers seen on these counters. In comparison, the S&P BSE Sensex was trading 0.79% lower at 34,105 at 09:38 am.

In last week, all these stocks had outperformed the market by surging up to 90% after the government took control of infrastructure financier Infrastructure Leasing & Financial Services (IL&FS).

How India lost 'best-performing stock mkt in Asia' tag in less than a month

The best-performing stock market in Asia for much of this year has lost that title in less than a month.

As the S&P BSE Sensex Index sank into a correction Friday, posting its biggest weekly plunge in more than two years, investors began paying up to hedge against more declines. The cost of bearish NSE Nifty 50 Index options jumped to its highest level since August of last year relative to the price of bullish contracts, data compiled by Bloomberg show.

Volatility in Indian stocks started spiking at the end of August and hit on Friday its highest level since February as traders digested a long list of reasons to sell:

— The rupee is Asia’s worst currency this year and slumped even further on Friday after the Reserve Bank of India chose to keep its interest rates unchanged and lowered its inflation forecast for the second half of the year ending March

— A steady climb in the price of oil -- India’s biggest import -- and the government’s request that state-run refiners absorb a portion of sweeping fuel price cuts have raised speculation that price controls may be reintroduced

— A recent default by a major infrastructure financier prompted the RBI to caution non-bank lenders about relying too much on short-term borrowings and warned to brace for tighter regulations.

Short-term outlook for market negative: Devang Shah

NIFTY

CLOSE- 10316.45 (05.10.2018)

Market closed 5th consecutive week in positive territory. It witnessed sharp sell off from higher levels beyond short term targets levels. It was highly volatile during the week. It made a low of 10,262 levels on Nifty & 34,202 levels on Sensex during the week. One can expect lower levels targets as mentioned below in case of any kind of further panic situation if these lows breaks further. As market is in oversold zone, one should also watch out any sign of initial pull back rally in near term.

The divergence between midcap/small cap & large cap needs to end till finally conclude end of short term trend reversal.Momentum indicators Daily KST & DAILY MACD both are in sell supporting short term trend. One should be stock specific & follow the trend with trail stop loss levels till it reverses. Close above short term reversal levels will finally confirm end of these correction & rally towards higher levels targets as mentioned above in medium term.

Stock Picks:
As market is highly in oversold zone, Risk reward is not favorable to initiate any fresh trading ideas and also market is near crucial medium term support levels, I would not recommend any new trading ideas for this week till we get further clarity on overall trend of market. One should closely watch out market behavior at these crucial levels.

Fuel-price cut: Goldman, Citigroup downgrade oil retailers IOC, BPCL, HPCL

Goldman Sachs Group Inc. and Citigroup Global Markets Inc. downgraded the stocks of India’s state-run fuel retailers after the government on Thursday asked them to subsidize retail fuel prices.

Citigroup downgraded Bharat Petroleum Corp Ltd., Hindustan Petroleum Corp Ltd. and Indian Oil Corp Ltd. to sell, while Goldman Sachs lowered the first two companies to sell, after the government cut the excise tax on gasoline and diesel by 1.5 rupees (2 cents) a liter and asked state-run oil marketing companies to absorb another 1 rupee/liter on the sale of these fuels.

The announcement came just before the market closed on Thursday, driving refiners’ stocks down. The S&P BSE Energy Index tumbled 6.7 percent, the most since August 2015, while each of the three state-run refiners closed more than 10 percent lower.

The imposition of price controls is an “unequivocal negative” that underscores “high political risk” associated with state-owned enterprises, Citigroup’s analyst Saurabh Handa wrote in a note.

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Hat-trick on rate hike almost certain, but will the RBI change its stance?

Given the rupee's slide and soaring crude prices, it's almost certain that the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will raise the repo rate for the third time in a row.

In the last policy meet, the RBI hiked repo rate by 25 basis points to 6.50 per cent, for the second time in a row. Reverse repo -- the rate at which the Reserve Bank borrows money from commercial banks within the country -- was adjusted to 6.25 per cent. The MPC had kept its policy stance neutral.

Most analysts expect the central bank to hike rates by 25 basis points (bps) when it announces monetary policy today. However, the key thing to watch out for this time around is whether the RBI will change its policy stance.

That apart, RBI is also expected to employ various liquidity management tools to ease the tight liquidity and the volatility in the money markets caused by the sharp depreciation in the rupee and the recent defaults in Commercial Papers (CP) by a large conglomerate.

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Markets stare at worst-ever FPI sell-off in 2018: All you need to know

Foreign portfolio investors (FPIs) have sold the highest-ever $9.1 billion worth of domestic debt and equity in the first nine months of 2018. This is also the first-ever year in which overseas investors have been net sellers in both the debt and equity markets.

At $7.1 billion, the selling in debt markets is by far the most, followed by $5.9 billion in 2013. Then too, the rupee, bond and stocks had tumbled after the US Federal Reserve announced the end of quantitative easing (QE).

The sell-off this year has come when the Fed has embarked upon delivering the biggest annual rate hike in more than a decade. The central bank has already lifted rates thrice this year by 75 basis points to 2.25 per cent, and another quarter-point hike is expected in December.

Meanwhile, the 10-year US Treasury yield has climbed to a 4-year high of 3.2 per cent. Experts say FPI outflows from Indian markets this year are on expected lines, as the Fed had signaled its tightening plans in advance. Not just India, but Asian peers such as Indonesia, South Korea, Thailand, Taiwan and The Philippines have seen sharp FPI outflows this year. Most others, however, have seen positive flows into bond markets. Sharp inflows into mutual funds (MFs) largely helped offset FPI outflows from India. However, flows into equity MFs are moderating. If FPI outflows accelerate further, counter-balancing by MFs could be a challenge.

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KPMG, Deloitte empanelled to conduct forensic audits of listed firms

Capital markets regulator the Securities and Exchange Board of India (Sebi) has empanelled nine entities, including KPMG, Grant Thornton and EY, for conducting forensic audits of financial statements of listed companies to check frauds.

The other firms that have been selected are Deloitte Touche Tohmatsu India LLP, Chokshi & Chokshi LLP, G D Apte & Co CA, JLN US & Co, Pipara & Co LLP and T R Chadha & Co LLP.

Pursuant to completion of the empanelment process, these accounting firms have been empanelled to take up the assignments relating to forensic audit, the Securities and Exchange Board of India (Sebi) said in a notice issued on Thursday.

Earlier in July, the markets watchdog had invited applications from eligible CA firms “for empanelment to take up assignments relating to a forensic audit of financial statements of listed companies”.

The move comes amid Sebi ordering a forensic audit of a slew of companies including Fortis Healthcare.

Of late, there have been concerns voiced over certain auditors for being negligent while examining books of the listed firms with various inconsistencies in financial statements being ignored.

Business Standard

Rupee continues slide; hits new low of 73.80 against US dollar

Continuing with its slide, the rupee on Thursday slipped past the crucial 73.50 levels to open at 73.70 against the US dollar. Minutes later, the currency bled further and slipped to 73.80.

The domestic currency on Wednesday plunged by 43 paise to breach the historic low of 73 level as soaring crude oil prices fuelled worries over capital outflows and widening current account deficit. The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent at the interbank foreign exchange.

Sharp volatility in the domestic equities and steep FIIs outflows from equity and debt segments keeping sentiments bearish for the rupee, said Rushabh Maru - Research Analyst , Anand Rathi Shares and Stock Brokers. "The dollar index is hovering around multi-months high as the Federal Reserve continues to raise interest rates aggressively. Focus would now shift to the RBI monetary policy meeting. There is a buzz of repo rate hike by 25 bps and possible change in the monetary policy stance by the RBI. More importantly, its guidance will be crucial. Market will also keenly watch whether the RBI announces any crucial measures to stabilize the rupee. In the near term, the rupee might trade in 72.50 and 73.80 range," Maru added.

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Nifty outlook and top trading ideas by Prabhudas Lilladher for today

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:

NIFTY VIEW
Nifty is finding it difficult to sustain at these levels now with Tech giving in to selling along with Auto too not supporting, the only sector which is marginally on positive is the Metal sector. The support for the day is seen at 10,800 while resistance is seen at 10,930.

BUY IOC
CMP: Rs 157.50
TARGET: Rs 170
STOP LOSS: Rs 145
The stock has been in consolidation for quite some time at around 150 levels and currently has indicated a bullish candle pattern in the daily chart to signify strength and potential to rise further from here on to scale up to 165-170 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 170 keeping a stop loss of 145.

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Macro headwinds continue to roil markets as rupee plunges to new low

India’s stock markets saw a fresh round of sell-offs on Wednesday after Brent crude prices climbed to a four-year high of $85 a barrel and the rupee dropped to a new low of 73.34 against the dollar.

Investors pulled out of equity markets on worries that the spike in oil prices and fall in the rupee would adversely impact the economy. Investor sentiment has already been fragile following defaults by Infrastructure Leasing & Financial Services (IL&FS), a lender to the infrastructure sector. The benchmark Sensex closed at 35,975.63, down 551 points, or 1.51 per cent, the most since March 16. The Nifty declined 150 points, or 1.36 per cent, to end at 10,858, a level last seen on July 9.

Brent crude prices were hovering above $85 a barrel — the most since November 2014 — on fears that the impending sanctions on Iran’s petroleum industry would lead to constricted supplies. Oil prices have gained 22 per cent since mid-August and are up more than 50 per cent in the past one year. The surge has come at a time when the dollar is gaining against most global currencies amid the US Federal Reserve embarking on monetary tightening.

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From Hindalco to Bharti Infratel, hot stocks to watch on Thursday

Nifty
Current: 10,858 (fut: 10,880)
Target: NA
Stop-long positions at 10,790. Stop-short positions at 10,960. Big moves could go till 11,025, 10,725. A long 10,700p (132), short 10,600p (105) could gain 15-20 if the index drops till 10,750.

Bank Nifty
Current: 25,070 (fut: 25,145)
Target: NA
Stop-long positions at 24,950. Stop-short positions at 25,350. Big moves could go till 25,550, 24,650. Trend Is bearish. Be prepared for excess volatility.

Hindalco
Current price: Rs254
Target price: Rs259
Keep a stop at Rs251 and go long. Add to the position between Rs257 and Rs258.
Book profits at Rs259.

Bharti Infratel
Current price: Rs252
Target price: Rs247
Keep a stop at Rs255 and go short. Add to the position between Rs248 and Rs249.
Book profits at Rs247.

UPL
Current price: Rs642
Target price: Rs630
Keep a stop at Rs649 and go short. Add to the position between Rs632 and Rs635.
Book profits at Rs630.

Business Standard

Saregama Carvaan Mini: Great on looks, sound, utility. Song library? Umm...

Saregama, India’s oldest music label owned by the RP-Sanjiv Goenka Group of companies, recently launched the Carvaan Mini at Rs 2,490. The Bluetooth-enabled speaker, which has USB and AUX connectivity and an FM/AM receiver, also comes with a pre-loaded playlist of 351 songs that makes it a unique proposition in the portable speaker segment.

Design
The Carvaan Mini is similar in design to single-side cassette players, which were quite famous back in the days when the phones weren't so smart and music CD players wore a halo of exclusivity. Saregama's piece is a near-perfect geometrical cube with curved corners, in which the speaker has plastic sides and the back, and the front is covered with metallic mesh sheets embossed with pictorial representations of legends from the Bollywood music industry.

Like the cassette players of yore, the speaker’s controllers such as play/pause, next/previous, volume rocker keys are placed on the top, along with a power button. For ease of use, the speaker features separate keys for different modes -– Saregama, FM/AM and Bluetooth. Connectivity ports, including a USB port, AUX-in and micro-USB charging port are placed on the back, along with an FM/AM antenna that fits well within the profile.
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YES Bank extends recovery; stock rises 21% in two sessions

Shares of YES Bank have risen for the second consecutive day, gaining over 10 per cent to Rs 223 levels on the National Stock Exchange (NSE) in intraday trade today, after the private bank said that it is fully prepared for the succession plan for its managing director and chief executive officer and will finalise two external experts for the search committee by October 7.

The stock has risen over 21 per cent in the past two sessions after it hit a 28-month low last week.

"Search & Selection Committee, assisted by a Global Leadership Advisory Firm, will evaluate both internal and external candidates and make suitable recommendations to the Board of Directors for onward submission to RBI.," the bank said in a regulatory filing on Monday.

YES Bank on Monday also released its unaudited financial results for the quarter to September. The bank registered a 41 per cent year-on-year rise in deposits at Rs 2.23 lakh crore in the second quarter (Q2FY19) while the CASA ratio grew 28.2 per cent YoY.

Gross non-performing assets stood at 1.35 per cent of gross advances compared with 1.82 per cent in the same quarter last year.

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Nifty outlook and top trading ideas by Prabhudas Lilladher for today

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:

NIFTY VIEW
Nifty recovered strongly from the low of 10821 but still the sentiment and bias remains cautious. The levels around 10820 - 10840 remains the support zone for Nifty while BankNifty shall have the support near around 24680-24700 levels. However, the support for the day would be seen at 36280/10940 while the resistance would be at 36750/11070 levels.BankNifty would have the range of 25100-25620 levels.

BUY ICICI BANK
CMP: Rs 314
TARGET: Rs 330-335
STOP LOSS: Rs 299
The stock has made a good correction from around 346.80 price to consolidate near the 300 levels which is forming a good support level. The stock has made a good recovery with huge volume participation and also the RSI indicator has reversed its trend to give a buy signal. We recommend this stock for an upside target of 330 keeping a stop loss of 299.

Business Standard

Top trading calls by Anand Rathi Research for today: Buy Tech Mahindra, HUL

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

NIFTY: BUY
TARGET: 11,157
STOP LOSS: 10,920
Nifty closed well in the positive territory in the last trading session and has formed a bullish engulfing candlestick pattern which is quite a positive sign for the bulls in the short term. On the lower side, the Index has again taken a good support at its 200DMA which is also quite positive in the short term. So, now till 10775 levels aren’t broken the Index can bounce till 11157 levels.

TECH MAHINDRA: BUY
TARGET: Rs 839
STOP LOSS: Rs 724
The stock has formed a symmetrical triangular pattern and the momentum indicator has also provided a buy crossover on the daily charts which is a positive sign going forward. The minimum target comes to 839; one can buy this with a stop loss of 724 levels.

AUROBINDO PHARMA: BUY
TARGET: Rs 810
STOP LOSS: Rs 730
The stock seems to have completed a three wave corrective fall and with that, it seems to have completed a wave 4 correction on the daily, as well as weekly charts. Now, wave 5 up seems to have started which has a minimum target of 810 and thereafter 730 levels.

HINDUSTAN UNILEVER: BUY
TARGET: Rs 1,680
STOP LOSS: Rs 1,610
The stock seems to have completed a five-waves declining structure and a three wave corrective bounce is expected. The daily momentum indicator MACD has come into buy mode, hence we recommend buying this stock.