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ORS icon Dr Dilip Mahalanabis dies in Kolkata

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Mahalanabis, 87, was suffering from lung infection and other old-age ailments, sources said.

Renowned physician Dr Dilip Mahalanabis, credited with pioneering the oral rehydration therapy, died at a private hospital here on Sunday, sources said.

Mahalanabis, 87, was suffering from lung infection and other old-age ailments, they said. He had hit the headlines during the Liberation War in Bangladesh in 1971, when the doctor saved thousands of lives with the oral rehydration solution during an outbreak of cholera, while serving in a refugee camp at Bangaon in West Bengal.

Oral rehydration therapy is a solution used to prevent and treat dehydration. Expressing grief at his passing away, Director of Institute of Child Health, Dr Apurba Ghosh said Mahalanabis was a pioneer in the treatment of cholera and enteric diseases through low-cost methods.

“His contributions will forever be remembered,” Ghosh said.

Also Read: TV actor Vaishali Takkar dies, alleges ‘harassment’ and ‘stress’ in suicide note

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Veteran actor Arun Bali passes away at 79; a look at his acting journey

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Bali last featured in Amitabh Bachchan-starrer Goodbye, which will be released today. He also last seen in the Aamir Khan-starrer Laal Singh Chaddha

Veteran actor Arun Bali, who impressed audiences with his performances in many Bollywood films, passed away on October 7, at 4.30 am in Mumbai after suffering from prolonged age-related illness.

Bali was 79 and was diagnosed with a rare neuromuscular problem Myasthenia Gravis earlier this year. The autoimmune disorder leads to a communication failure between nerves and muscles.

The actor last appeared in the Amitabh Bachchan-starrer Goodbye, which will be released today. He was seen in Aamir Khan-starrer Laal Singh Chaddha.

From TV to films

Bali was born in Jalandhar, Punjab, in 1942. He debuted on Indian television as an actor in 1989 with Doosra Kewal. He played the role of superstar Shah Rukh Khan’s uncle in the TV show by noted filmmaker Lekh Tandon.

He was known for his performance as King Porus in the 1991 period drama Chanakya. He also played the role of Kunwar Singh in the Doordarshan soap opera Swabhimaan. Bali essayed the role of chief minister of undivided Bengal, Huseyn Shaheed Suhrawardy, in the critically acclaimed film Hey Ram released in 2000.

One of his most popular roles was that of Harshvardhan Wadhwa in the TV show Kumkum.

Apart from this, Bali acted in 3 Idiots (2009), PK (2014), Airlift (2016), Kedarnath (2018) and Panipat (2019).

Nupur Alankar, a member of television artistes CINTAA and a close friend of Bali, told ETimes in January this year that she had sensed something wrong with Bali’s speech and pointed it out to him. She also tried to contact his son Ankush, but was unable to do it initially. However, later they connected and she advised Ankush to take Bali to the hospital.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Ex-Union minister and Congress leader Manikrao Gavit dies at 87

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The record nine times Lok Sabha MP represented the tribal-dominated Nandurbar constituency from 1980 to 2009.

Former union minister and and Congress leader Manikrao Gavit passed away on September 17 at the age of 87 in Nashik. Gavit was suffering from age-related ailments. He is survived by his daughter former MLA Nirmala Gavit and son Bharat.

The record nine times Lok Sabha MP represented the tribal-dominated Nandurbar constituency from 1980 to 2009. An important leader of the Congress in Maharashtra, Gavit lost the election in 2014. He also served as the Union minister of state home in the Manmohan Singh led UPA government in 2004 and as the minister of state social justice in 2013.

IN 2019, Gavit threatened to quit Congress after his son Bharat was denied ticket by the Congress in 2019, who eventually joined the Bhartiya Janta Party. While Gavit did not resign from Congress, Bharat contested the Nandurbar Lok Sabha seat as Independent.

The veteran leader’s daughter Nirmala, a two-time Congress MLA from Igatpuri, joined the Shiv Sena before the 2019 Assembly elections and lost her seat.

Also Read: Twitter rejoices as PM Modi releases cheetahs from Namibia into Kuno National Park

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Uppalapati Krishnam Raju, veteran actor and former Union minister, dies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Former Union Minister and veteran actor Uppalapati Krishnam Raju is survived by wife and three daughters.

Former Union Minister and veteran actor Uppalapati Krishnam Raju passed away on Sunday wee hours while undergoing treatment at a private hospital here, hospital sources said.

He was 83 and is survived by wife and three daughters.

Raju was uncle of ’Baahubali’ star Prabhas. Hospital sources said he was suffering from post-COVID-19 ailments. He was admitted to hospital on August 5.

He was a two-time Lok Sabha member and served as Union Minister of state in the Atal Bihari Vajpayee government.

Known as ’Rebel Star’, Raju acted in over 180 films and remained a trendsetter with his rebellious characters. He started his film career with Telugu movie ’Chilaka Gorinka’ in 1966.

He won several awards and accolades for various roles he portrayed in films. Telangana Chief Minister K Chandrashekar Rao in a statement condoled his death. KCR said that the death of Krishnam Raju, who acted as a hero in many films during a fifty-year career and won the hearts of moviegoers as a ’Rebel Star’ with his unique acting style, is a great loss for the Telugu silver screen.

He further said Krishnam Raju served the people of the country as a member of the Lok Sabha, as a Union Minister and through the field of political administration, is sad. Condoling the former minister’s death, Telangana BJP chief Bandi Sanjay Kumar in a statement said the death of Krishnam Raju is painful and a big loss to the BJP, Telugu film industry and people.

The AIG Hospitals where he was undergoing treatment, in a statement, said he was admitted for post COVID complications on August 5. He was diagnosed with severe pneumonia caused by multidrug resistant bacteria and fungal organisms, severe infective bronchitis. He had heart rhythm disturbances during the hospital stay and worsening of kidney function. He was managed on ventilator support since admission. He was on appropriate treatment and close monitoring was done.

”He succumbed to severe pneumonia and its complications on 11.9.22 and expired at 3.16 am today due to cardiac arrest,” it said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Cyrus Mistry: How once Tatas’ most desirable ended up in a bitter feud with the group

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Cyrus Mistry profile: Former chairman of Tata Sons Cyrus Mistry died on Sunday after the car he was travelling in met with an accident around 135km from Mumbai. Here’s a look at his early life and career.

Former chairman of Tata Sons Cyrus Mistry died on Sunday after his car met with an accident around 135km away from Mumbai.  The accident occurred near the Surya river in Palghar’s Charoti area around 3pm. Mistry was reportedly travelling from Ahmedabad to Mumbai when his Mercedes crashed. He was 54.

Came from one of Ireland’s richest families

Mistry’s father Pallonji Mistry was one of Ireland’s richest people. He was a permanent resident of India and had acquired Overseas Citizenship of India.

Cyrus was born to Pallonji Mistry and  Patsy Perin Dubash on July 4, 1968, in Dublin. Cyrus had three siblings, elder brother Shapoor and sisters Liala and Aloo.

Born in riches, young Cyrus attended the Cathedral and John Connon School of South Mumbai. After finishing schooling, Cyrus attended Imperial College in London and in 1990, he earned a bachelor’s degree in Civil Engineering from the University of London. Soon after finishing his Bachelor of Engineering, Cyrus joined the family construction company, Shapoorji Pallonji & Co. and was made the director of the company. In 1996, Cyrus finished his International Executive Masters in Management from the University of London.

Career in Tata Sons

After entering his family business in 1991, Cyrus took his father’s place on the board of Tata Sons in 2006. Pallonji Mistry was the single largest shareholder of Tata Sons. Mistry’s grandfather, Shapoorji Mistry, had first acquired a stake in Tata Sons in the 1930s.

Cyrus was appointed as the Deputy Chairman of Tata Sons in November 2011 and was appointed as the sixth Chairman of the group in 2012, succeeding Ratan Tata.

When he was elevated to the position of chairman of the conglomerate, he became only the second person on the post after Nowroji Saklatwala to not bear the surname Tata.

He served as Tata Sons Chairman till 2016 after which he was voted by Tata Sons to be removed from the post over a number of reasons including Mistry’s handling of important issues such as the dispute with NTT DoCoMo and the clash of culture. This started a legal battle between the two parties.

In July 2018, the National Company Law Tribunal (NCLT) charged Mistry with mismanagement and issued a verdict in favour of Tata Sons. Mistry then challenged the verdict.

In December 2019, the National Company Law Appellate Tribunal (NCLAT) reinstated Mistry as the Chairperson for Tata Sons. A month later, Tata Sons challenged the NCLAT’s decision  in the Supreme Court of India. But Mistry had announced that he will not return to the Chairmanship of the conglomerate and is instead interested in reserving his seat on the company’s board.

Mistry is survived by his wife Rohiqa Chagla and two sons, Firoz Mistry and Zahan Mistry.

Also Read: Cyrus Mistry killed in car crash: PM Modi, Gadkari, Anand Mahindra, others offer condolences

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India’s 1956 Olympic football captain Samar ‘Badru’ Banerjee passes away

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Fondly known as ‘Badru Da’, he was suffering from Alzheimer, Azotemia and high-blood pressure related ailments, and was admitted at the MR Bangur Hospital after testing positive for COVID-19 on July 27.

Former India football team captain Samar ‘Badru’ Banerjee, who led the country to a historic fourth-place finish in the 1956 Melbourne Olympics, died here in the early hours of Saturday after a prolonged illness. He was 92. Banerjee is survived by his daughter-in-law.

Fondly known as ‘Badru Da’, he was suffering from Alzheimer, Azotemia and high-blood pressure related ailments, and was admitted at the MR Bangur Hospital after testing positive for COVID-19 on July 27. “As his health deteriorated he was shifted to the state-run SSKM Hospital under the supervision of state sports minister Arup Biswas. He breathed his last around 2.10am,” Mohun Bagan secretary Debasish Dutta told PTI.

“He was our beloved ‘Badru Da’ and we had bestowed him with the Mohun Bagan Ratna in 2009. It’s another big loss for the Maidan,” he added in his condolence message. His body was brought to the club as the members and fans paid their last respects.

The Indian football teams have participated in three Olympics so far and till date, the performance by the Banerjee-led 1956 side remains the best, when they finished fourth after losing to Bulgaria 0-3 in the bronze medal playoff, in what was known as the ‘golden era’ of football in the country.

Also Read: The business of football — How Europe’s ‘big five’ leagues stack up against each other

Having got a walkover in the first round, the Syed Abdul Rahim-coached side that also had the likes of PK Banerjee, Neville D’Souza and J ‘Kittu’ Krishnaswamy, defeated Australia 4-2. D’Souza struck a hat-trick in their glorious win.

But the team failed to make the final, going down 1-4 to Yugoslavia in the last-four stage. Besides guiding Mohun Bagan to several trophies including their first ever Durand Cup (1953), Rovers Cup (1955), Banerjee has also won the Santosh Trophy twice as a player (1953, 1955) and once as coach (1962). He also served India as selector.

With his demise, Maidan has lost another footballing great after the likes of PK, Chuni Goswami, Subhas Bhowmick and Surajit Sengupta in less than three years. Born on January 30, 1930, Banerjee’s footballing journey started with some local clubs in Bally as a school-going kid.

His father, Sasanka Sekhar Banerjee, was a strict disciplinarian and wanted him to become a doctor, enrolling him in RG Kar Medical College. “My father was very strict. He would scold me a lot for ignoring my studies,” Banerjee would recount in an interview to the Mariners’ website after he was conferred the ‘Mohun Bagan Ratna’.

Also Read: Meet Manisha Kalyan — the first Indian to play in UEFA Women’s Champions League

“But, in spite of that, I would go there and listen to the elders talking about Mohun Bagan, East Bengal, Mohammedan Sporting, and various other clubs of the Maidan. I was shoved away many times, but my attention would always be there,” he added. At a time when there was little incentive for a sportsperson, an 18-year-old Banerjee chose to become a footballer and went on to represent Bally Protiva, a third division club in the Calcutta Football League.

Having impressed with his skills, there was no looking back as he was roped in by Bengal Nagpur Railway, better known as BNR, the nurturing ground for the state football then, before going on to make a mark at Mohun Bagan during an excellent eight-year stint. There, he had formed a deadly combination up front with Kesto Pal. Banerjee won the IFA Shield in his debut season with the green-and-maroon brigade in a controversial final against Rajasthan Club.

He then guided the club to their first ever Durand Cup next season, with his key strikes in the semi-final and final. Banerjee again hogged the Maidan limelight in 1954 when they secured another first, a double with the CFL and IFA Shield titles, as he went on to cement his place in the Indian side under coach Rahim.

In between he also toured with the club to East Africa, with the likes of PK. In 1958, he was made Mohun Bagan captain which ironically coincided with the club’s downward spiral, having finished runners up in the CFL, Shield and the Rovers Cup.

Also Read: The business of football — How Europe’s ‘big five’ leagues stack up against each other

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Tracking the last journey of India’s Big Bull Rakesh Jhunjhunwala

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

For the past few months, he was in and out of this hospital negotiating complications related to kidneys, diabetes and ischemic heart diseases. The Sunday morning visit, however, was to be his final one.

My Sunday routine was punctuated by a call from the office. “RJ is no more,” said the voice on the other side, “You got to rush to Breach Candy hospital.” I quickly grabbed my car keys and drove off.

I was greeted with an eerie silence, even by hospital standards. Because word hadn’t spread, I could walk right up to the room where family members were waiting. A few familiar (masked) faces acknowledged the untoward news with respectful head nods and joined hands. 

Rocky, as Rakesh Jhunjhunwala was known to his friends and near ones, had passed away. Accompanied by his wife Rekha, his driver and a member of his domestic staff, Jhunjhunwala was rushed to the hospital at 6:00 am.

For the past few months, he was in and out of this hospital negotiating complications related to kidneys, diabetes and ischemic heart diseases. This visit, however, was to be his final one. Moments after his arrival, doctors pronounced him dead, citing cardiac arrest as the primary cause. By now, word had spread. A battery of journalists, OB vans, and camera personnel assembled outside.

Shortly, an ambulance carrying his mortal remains sped towards Il Palazo, his residence at Malabar Hill overlooking the sea, not too far away from the hospital. A message from the family said his “antim yatra” would take place at Banganga crematorium in the neighbourhood at 5:30 pm, which was later postponed to 10.30 pm.

Security staff, police presence and barricades were increased and placed outside the hospital, his residence and the Banganga crematorium. 

For a nation of billion plus, but just nine crore Demat accounts, Jhunjhunwala represented courage and conviction. An unabashed nationalist and a staunch believer of the India Story, he represented the ultimate dream for all new entrants and wide-eyed hopefuls in the Indian stock market. 

RJ was an ambassador of the great Indian Dream. He studied at Mumbai’s famous Sydenham College, completed his chartered accountancy and began his investment journey when he was in college in 1985 with a sum of Rs 5,000 with the help of friends. 

Through the years, his holdings in stocks like Titan, Lupin, Tata Motors and others have outsized returns. He also started dabbling with private investments which turned public, like Nazara Tech, Metro Brands, and Star Health Insurance. 

Back at Il Palazo, those from the hospital had reached along with other family members to pay their respects. Sounds of Jagjit Singh’s Hey Ram filled the room where, not very long ago, Jhunjhunwala’s laughter reverberated. 

Even as the air was sombre, there were conversations all about his zest for life and love for India and the word “Anand-Jeevi” (happy-soul) was aptly uttered in description. 

Among his friends present from the equity markets were Utpal Seth, CEO and Partner of Rare Enterprises, Ramesh Damani, Vallabh Bhansali, Hiren Ved and Radhakishan Damani. While Jhunjhunwala considered RKD his “guru” in the stock market, the former thought of him as one of his closest friends. RK Damani stood by his friend’s side from the hospital to his house. 

Of the many pictures adorning the walls and tables at his residence, the one with PM Narendra Modi shot in October 2021 held a prominent corner.

For me, an analyst covering the Indian Stock Market, Jhunjhunwala’s humility towards his craft stood out. Quarter after quarter, one would hear him asking questions to managements of his portfolio companies in their conference calls. 

For someone of “India’s Warren Buffett” like stature and $5 billion-plus portfolio size, it wasn’t necessary to wait in the queue every quarter. An army of analysts and all the listed companies would have been happy to answer any query of his over a private call within a second. But he meticulously pored over each number, every quarter, and wouldn’t hesitate to change his view within a second if the data wasn’t supportive of his original thesis. Maybe that’s what differentiated him as both a trader and a long-term investor. 

In cricket parlance, he was an able-T20 batsman who could hit a few sixes down the order and an equally astute Test batsman who could navigate a tricky pitch for hours on end to save the game. 

Maybe, that’s what convinced him of his last big bet, too. Akasa Airlines, a low-cost, frugal airline, was promoted by him at a time when planes weren’t taking off during the pandemic. This was also India’s first new airline in a decade.

When it was time for the aircraft to launch operations, his health took a turn for the worse but not his enthusiasm. Wheelchair-bound, he attended the inauguration event for Akasa Airlines and cut the ribbon with childlike glee. He showed off the recycled polyester uniforms of Akasa’s sneakered cabin crew. He also took a barb at how the competition ordered new chairs for their flights to compete with Akasa’s frugality. 

At another corner of his house lay grounded an orange scale model Akasa aircraft, in respectful homage to its promoter. 

Even in his last interview on CNBC-TV18, less than a week before his death, Jhunjhunwala, visibly unwell, didn’t shy away from his enthusiasm for India. He said: “India will outpace the world. Even if the world goes into recession, India will grow, albeit at a slower pace, but grow it will….”

As global markets grapple with inflation, central banks increasing rates, and recession fears, a new wave of optimism in Indian markets and a successful investment journey of retail investors could be the best tribute to RJ. 

Sleep well, Big Bull, and as you’d often say, may “the mother of all bull markets” be right ahead of us.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Pallonji Mistry, the man who built Mumbai’s iconic Taj Mahal Palace ahead of schedule, and his life

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Pallonji Mistry had taken up Irish citizenship in 2003 after his marriage to Patsy Perin Dubash, an Irish national.

Billionaire philanthropist Pallonji Mistry, who was the chairman of the Shapoorji Pallonji Group, passed away in Mumbai at his residence late last night. He was 93.

The business tycoon headed a conglomerate that is involved in engineering, construction, infrastructure, real estate, water, energy and financial services and has an employee base of over 50,000 people across 50 nations.

Pallonji Mistry’s life

Born in 1929, Mistry attended Mumbai’s Cathedral & John Cannon School before heading to London’s Imperial College for higher education. After his graduation in civil engineering from England, Mistry returned to India and took over the business in 1954.

The SP Group has constructed some of Mumbai’s landmark buildings, including the buildings for the Hong Kong & Shanghai Bank, the Grindlays Bank, the Standard Chartered Bank, the State Bank of India and the Reserve Bank of India headquarters.

But one of Mistry’s biggest projects was Mumbai’s iconic Taj Mahal Palace, notably constructed ahead of schedule and under budget.

The Tata saga

But it is Mistry’s 18.4 percent stake in Tata Sons that is the family’s biggest asset. The stake had put Mistry as the largest individual shareholder in the business house. His daughter Aloo is married to Noel Tata, half-brother of former Tata group chairman Ratan Tata.

As per a Business Standard report, Tata group old-timers recall how Pallonji’s father built steel and automobile factories for the Tatas and, in return, received a 12 percent stake in Tata Sons in 1930 because the Tatas had no money to pay at that point of time.

But the two families had a falling out after Mistry’s son Cyrus was removed as the Chairman of Tata Sons in 2016. The saga only ended in 2021 in a legal victory for Ratan Tata at the Supreme Court. As a result, the Mistrys decided to dilute their holdings in Tata Sons.

Irish citizenship

Despite living in Mumbai, Mistry had taken up Irish citizenship in 2003 after his marriage to Patsy Perin Dubash, an Irish national.

With his net worth of $28.9 billion, according to Bloomberg’s Billionaire Index, Mistry was one of the richest men on the planet and the richest Irish national. If counted through his place of residence, Mistry would have been one of the 10 richest billionaires in India.

Despite his immense wealth, Mistry remained mostly reclusive and private, earning him the title ‘Phantom of Bombay House’. He had divided his assets between his two sons, Shapoorji and Cyrus.

Mistry was awarded the Padma Bhushan in 2016 for his contributions in the field of trade and industry.

ALSO READ: Shapoorji Pallonji Group Chairman Pallonji Mistry passed away last night, aged 93

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Turn around man of PSUs V Krishnamurthy’s contributions to India’s story of growth 

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

For his services to the nation, Krishnamurthy was awarded the Padma Shri in 1973, Padma Bhushan in 1986 and the Padma Vibhushan in 2007

Dr V Krishnamurthy, the former chairman of several public sector undertakings like Bharat Heavy Electricals Limited (BHEL), Gas Authority of India Limited (GAIL), Steel Authority of India Limited (SAIL) and Maruti Udyog (renamed to Maruti Suzuki), passed away yesterday at the age of 97. Krishnamurthy, known as the ‘turnaround man’ in industrial circles, had worked with five Prime Ministers – Lal Bahadur Shastri, Indira Gandhi, Morarji Desai, Rajiv Gandhi and Manmohan Singh – and was an instrumental part of turning India’s PSUs into successful business ventures.

“His contribution to the growth of India was immeasurable. It (demise of Krishnamurthy) is a great loss to Indian industry and to the country. I will certainly miss his genial and wise presence”, said TVS Motor Company chairman emeritus Venu Srinivasan on Krishnamurthy, reported PTI.

“A true legend among public sector managers, a man who built BHEL, turned around SAIL and launched Maruti is no more. V. Krishnamurthy had a glorious innings but missed his century by just three years. He’ll remain an important part of Indian economic history,” Congress leader Jairam Ramesh tweeted.

Considered by many to be the “the father of public sector undertakings in India”, Krishnamurthy started his career as an airfield technician during the Second World War. Soon after, Krishnamurthy started his stint in BHEL and was monumental in turning the PSU into the industrial giant it is today. His stint in GAIL and then SAIL resulted in similar success. Krishnamurthy was chosen as the Business India Businessman of the year in 1987 because of the SAIL turnaround story. But it was in his role as the Founder Chairman and CEO at Maruti Udyog that Krishnamurthy found his most lasting success.

ALSO READ: Contribution of V Krishnamurthy to growth of India immeasurable, says Venu Srinivasan

Krishnamurthy was instrumental in the development of the Maruti 800, which made it possible for Indian families to own and drive a car. It was a milestone for Maruti Udyog to sign a joint venture agreement with Japan’s Suzuki Motor Corporation in 1982 and it happened under the leadership of Krishnamurthy.

“In his initial remarks, he asked the managers, ‘I went through your appraisal reports. Almost all of you seem to be outstanding performers. Tell me the secret of producing a loss-making company with so many outstanding performers?’ It laid a strong foundation for reviewing and replanning their new PMS in SAIL and also gave birth to Priorities for Action,” recalled TV Rao, Chairman TVRLS, on one of Krishnamurthy’s first meetings after taking over as the Chairman of SAIL.

“He is known to build leaders wherever he worked. He is a true leader and an unassuming role model,” Rao added.

Maruti Suzuki India chairman RC Bhargava described Krishnamurthy as an outstanding leader and a visionary who introduced the Japanese work culture in India through Maruti Udhyog. “Had it not been for him I would have remained in administration only,” Bhargava was quoted as saying by NDTV.

“Dr. V Krishnamurthy was a Colossus. As the Chairman of SAIL, he brought many changes in SAIL, which were simply revolutionary. He was a great leader, always very humble and polite,” wrote former Chief General Manager (MKT) at SAIL, Deo Kumar Ghatak.

Rakesh Kumar Singhal, former head of corporate affairs at SAIL, shared how Krishnamurthy turned around SAIL.

“Back in 1985 as a junior manager when I got a booklet titled #Priorities for #action with a covering letter signed by Chairman V Krishamurthy Sir . I can still recall my sense of ethereal feeling. The booklet became a guiding light for SAIL turn around. Mr V Krishamurthy turned around Steel Authority of India Limited, instilled confidence and self-belief in people with his hands-on approach. Before his becoming Chairman, the connection of grass-root level at many corners of the organisation with the top echelons was of very limited nature,” wrote Singhal, who had joined SAIL as a trainee in 1983.

Great stress was laid by him personally on improved #communication throughout the length and breadth of the mammoth enterprise.

In a LinkedIn post, Singhal revealed how Krishnamurthy personally supervised improved communication across all departments of SAIL, “Briefing groups were set up to brief employees about major policy issues. Shift meetings were encouraged. Two-way communication with the rank-and-file was strongly emphasised. Suggestion schemes were revamped.”

According to Singhal, Krishnamurthy’s vision even today guides all organisations he headed.

Another ex-employee of SAIL, Ravi Kumar K Pillai, recalled how V Krishnamurthy’s exemplary leadership and commitment turned SAIL from a mediocre PSU to a promising public sector giant.

“I was fortunate to work closely with him when he came in to head SAIL and lead it from a bleeding, comatose giant of mediocrity to a promising symbol of public sector revival. He enthused a lot of young professionals like me. What stood out in his leadership style was the passionate commitment, radiating optimism and ability to cut across hierarchy and status to reach a mix of talent whom he galvanised into ambassadors for change. Communication, empathy and engagement through direct in-person dialogues were the hallmarks of his leadership,” wrote Ravki Kumar in a LinkedIn post.

For his services to the nation, Krishnamurthy was awarded the Padma Shri in 1973, Padma Bhushan in 1986 and the Padma Vibhushan in 2007, along with the Order of the Rising Sun, the highest civilian honour in Japan, by the Japanese government for his contributions to bilateral economic ties between the two countries.

ALSO READ: Vedanta plans record rupee bond as Agarwal shores up finances

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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The memory remains of KK as a school rockstar trained by Loy Mendonsa

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The passing away of singer KK comes as a rude shock, but at least he got to where he truly deserved

KK was always KK, even in his early days. No one called him Krishna or Krishnakumar in school. He was this slim, short, bespectacled boy with closely cropped hair on the sides who could mesmerize you with his melodious voice. We were actually in neighbouring classrooms in school. He was a year senior, though we are about the same age. And we’d more than just brush into each other very often, for one reason only: our love for music.

MUSICAL BEGINNING: Aankhon mein teri…

Coincidentally, so it seems now, we were both part of the music group. You’ve heard about Socially Useful Productive Work (SUPW) in school, right? You need to pick an area of interest and work on it besides academics. I chose music, so had KK. And guess who the teacher was? None other than Loy Mendonsa of Shankar, Ehsaan & Loy fame. Little did we know then that both mentor and student would one day be topping the charts with their music and songs, respectively.

Also Read | KK dies at 53: Life and times of the iconic singer

Interestingly, Loy who is seen mostly on the keyboards now plays several instruments. He actually taught us guitar in school. And while I have never been much of a musician, it was good fun hanging with the group. My classmates Rohan, a bank treasury man when I last checked (not disclosing full names to be fair) and Verghese, who last I heard had migrated to the land down under, were the guitarist duo, with Rohan in the lead and Verghese on bass. The incredible combination with Loy as the guiding light saw us storm the inter-school competition, like no one had seen before. They were belting out songs of famed guitarists, like Mark Knopfler’s Money for Nothing. The group stood apart.

Even in those days, KK always had that yearning look in his eyes (Aankhon mein teri…) of wanting to pursue a career in music—not easy in those days. What’s more, he never was a Hindi music guy. In school we always looked to a much younger schoolmate, in his 8th grade I think (forget his name, it’s been so long), who had a wonder voice for ghazals, et al. KK was always seen as the “western music” guy.

From what I heard, he didn’t have it easy to start with. Someone mentioned he was working with an ad agency and not liking it one bit. The next I heard of him was when my wife brought home his album. I could never believe him singing Hindi songs, but I guess if you need to make a living off music in India, at least in those days, singing for the movies was the only way. I’m not sure what it took for him to get to where he did, but I’m glad he did.

SCHOOL LIFE: Chod aaye hum who galiyaan…

KK was a simple and unassuming guy, though he could well pull a prank or two. He was generally good hearted. He’d often drop in to a friend Malhotra’s (let’s leave it at that) home in Greater Kailash–II in Delhi. Malhotra and I got close, though he was a year senior, as we lived just one lane apart. KK was Malhotra’s good buddy and classmate. That he was living in Kalkaji, not too far away, only led to all of us meeting more often.

Never had we ever imagined at the time where we would all be. We always knew KK was a great singer and prayed that he do well, but making a living of singing in those days was a tall ask. In those days we’d do random things like hanging out late night near the temple on Janamashtami day or just stepping out to the market for a chai, and what have you. Typical Delhi thing.

In KK’s passing, while we grieve, we also cheer what he managed to achieve. And while I did not connect with him in his in-fame years, always felt that would be very awkward, the memories remain.

He has left early. Why? Khudaa Jaane…

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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