Arvind Kejriwal to meet Sitaram Yechury for CPM’s support against Centre’s Ordinance

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

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Delhi Chief Minister and AAP national convener Arvind Kejriwal on Monday announced his meeting with CPI(M) general secretary Sitaram Yechury on Twitter.

As per the tweet, the Delhi CM will seek Yechury and his party’s support against the Centre’s ordinance on control over administrative services in Delhi.

Will meet Sh Sitaram Yechury ji at CPM headquarters tomo (Tue) 12.30 pm to seek their support against ordinance.

— Arvind Kejriwal (@ArvindKejriwal) May 29, 2023

Earlier, Bihar Chief Minister leader Nitish Kumar as well as his deputy Tejashwi Yadav have also extended their support to Kejriwal in the matter.

Kejriwal has been reaching out to opposition leaders of various parties with the expectation that the Centre’s bid to replace the ordinance with a law is defeated when the corresponding bill is brought in Parliament.

Also Read:8 Chief Ministers skip Niti Aayog meeting in Delhi, BJP questions move

The Centre on May 19 promulgated an Ordinance, a week after the Supreme Court handed ositaram yeter the control of services in Delhi, excluding police, public order and land, to the AAP-ruled Delhi government.

The Ordinance proposed to create an Authority for the transfer and posting of Group-A officers in Delhi, which the AAP government has said goes against the Supreme Court verdict on control of services.

The Centre will have to bring a bill in Parliament to replace the Ordinance within six months of its promulgation. With NDA still now near the halfway mark in Rajya Sabha, the AAP sees a golden opportunity to prevent this ordinance taking shape of a law.

-With inputs from PTI

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Nvidia and MediaTek team up to bring gaming, AI to car infotainment systems

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

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Nvidia Corp and MediaTek Inc on Monday said they will collaborate on technology to power advanced vehicle infotainment systems that can stream video or games or interact with drivers using artificial intelligence.

Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays.

MediaTek systems using Nvidia software would be compatible with automated driving systems based on Nvidia technology, the companies said. Dashboard displays could show the environment around the vehicle, while cameras would monitor the driver.

“The automotive industry needs strong companies that can work with the industry for decades at a time,” Nvidia Chief Executive Jensen Huang told a news conference in Taipei, pointing to a long product cycle for car makers.

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“The quality, strength and positions of our two companies could give the automotive industry partners that they can build their companies on,” he said, adding the partnership would provide chips that can power “every single segment of a car”.

In-vehicle displays and entertainment systems are becoming more complex as automakers add features such as gaming, artificial intelligence for voice-activated features, driver monitoring systems and displays related to automated driving.

Qualcomm, MediaTek’s chief rival in the smartphone market, has also been courting automakers. Qualcomm and SalesForce earlier this year announced a partnership to develop a new connected vehicle platform.

The partnership with MediaTek gives Nvidia wider access to the $12 billion market for infotainment system-on-chips, the companies said. At the same event, MediaTek Chief Executive Officer Rick Tsai said the first products were planned for late 2025.

Nvidia has focused on premium automotive brands such as Mercedes-Benz and Jaguar Land Rover. MediaTek, which has its base in the Android smartphone chip sector, sells its Dimensity Auto technology to lower-priced, mass-market vehicle lines, and has strengths in mobile connectivity and Android systems.

“There are a lot of segments they are addressing that Nvidia has not addressed,” said Danny Shapiro, Nvidia’s vice president of automotive.

The companies did not identify future automotive customers.

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IPCA Labs Q4: Margins down 500 bps, Net profits halved to Rs 77 crore

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

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The pharmaceuticals major, IPCA Laboratories posted 17 percent rise in revenues in the fourth quarter of FY23 to Rs 1,511 crore versus Rs 1,289 crore in the same quarter of last year. Although compared with the December ended quarter, the revenues have declined.

The earnings before interest, tax, depreciation and amortisation (EBITDA) is lower by 16 percent on a year on year basis to Rs 181 crore. The EBITDA margins have contracted to 12 percent from 17 percent year on year and 14 percent sequentially. Net profitability for the quarter has nearly halved to Rs 77 crore versus Rs 130 crore in the corresponding quarter of last year.

India revenues grew 10 percent to Rs 608 crore. Exports jumped 52 percent to Rs 156 crore, while the institutional segment revenues declined 5 percent to Rs 76 crore. Generics business clocked good performance for the fourth quarter growing 22 percent to Rs 201 crore, while the API business witnessed 30 percent revenue growth.

For the full year FY23, IPCA Labs revenues grew 7 percent to Rs 6,244 crore, while EBITDA declined 29 percent to Rs 927 crore. Margins tumbled to 14.8 percent versus 22 percent in FY22. Net profitability also nosedived 47 percent to Rs 471 crore.

The stock at Rs 80 per share is trading about 1 percent higher on the exchanges at 3 pm on May 29, post its results declaration.

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Sidhu Moose Wala’s YouTube channel adds 10 million subscribers after his death

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

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It has been a year since the untimely demise of Sidhu Moose Wala left his fans in a state of shock, but the popular Punjabi singer still rules the musical landscape in Punjab and other states. In fact, Moose Wala’s popularity has increased exponentially in the last one year. Moose Wala’s songs like Never Fold, Doctor, Levels, Never Fold, The Last Ride, GOAT and Legend continue to top music charts of most streaming platforms even a year after his death.

The Punjabi hip-hop star was brutally murdered in Punjab’s Jawaharke village of Mansa district on May 29 last year.

The Punjabi music icon’s last song was released posthumously on April 7. The song, titled Mera Na, also features Nigerian singer Burna Boy and Indian-origin UK producer Steel Banglez.

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The catchy song is essentially a tribute to Moose Wala as it talked about the immense global fame that the singer-rapper amassed over his lifetime. Furthermore, the song alludes to how Moose Wala’s loyal fans have his name on their lips and he is seen everywhere on billboards and murals.

According to The Indian Express, Mera Na garnered a million views on YouTube in only 15 minutes. This is indicative of Moose Wala’s everlasting legacy and the fact that he continues to dominate the musical landscape.

At the time of his death, Moose Wala’s YouTube channel had around 10 million subscribers. However, that number is now over 20 million a year later.

The slain singer’s two other tracks have been released posthumously, Vaar and SYL. Vaar was released in November last year on the 553rd birth anniversary of Guru Nanak Dev and recorded a million views on YouTube within 20 minutes, reported The Times of India. This track is dedicated to the valour of Sikh warrior Hari Singh Nalwa, the commander-in-chief of the Khalsa army during Maharaja Ranjit Singh’s reign.

Meanwhile, the song SYL was banned on YouTube due to its controversial lyrics.

Sidhu Moose Wala emerged as a global icon who released more than 60 singles.

He became a household name in Punjab and among the Sikh diaspora in the West because of his ability to mix traditional and rap music. In 2017, Moose Wala caught the popular imagination almost overnight with his So High song.

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Everyone has the right to choose their gender, says Rajasthan High Court

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

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The Rajasthan High Court, in a recent order, has observed that a human being’s right to choose their own sex or gender identity is integral to their personality and one of the most basic aspects of self-determination, dignity and freedom. It also observed that there are more genders than just cisgender.

“Gender identity is the most fundamental aspect of life which refers to a person’s intrinsic value of being a Male or Female,” the order reads. “Everyone is entitled to enjoy all human rights which are a basic necessity to survive, without discrimination on the basis of sexual orientation or gender identity.”

Observing this in an order dated May 25, Justice Anoop Kumar Dhand directed authorities to consider modifying the service record of the petitioner, a person assigned the female gender at birth.

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It ordered the petitioner to file an application with the District Magistrate to change their gender details. Once issued, the petitioner can take their certificate and apply for a change in service records to relevant authorities.

It has been held that the right of a person to self-perceived gender identity is a part of their fundamental rights guaranteed under Articles 14 and 21 of the Constitution, which also grants all Indians the right to equality.

“Everybody on this planet has a right to be treated with respect and dignity, be it a Male or a Female or any other gender,” the court order reads.

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In its observation, the court also quotes the Rigveda from the Hindu mythology, which considers three types of gender — the Male or “purush,” the Female or “Prakiti” and the third gender which is “Tritiya Prakiti.”

Till the past we used to consider Male and Female as two biological sex but the developed science has proved that there are more genders than just cisgender, the court said.

“In the recent times the modern Indian society have considered them as the third gender otherwise there was no such identity given to them legally. Still, all is not well, and the third gender people are struggling to constitute a part of the civil society,” the order reads.

According to the order and a Bar and Bench story, the petitioner secured a job in 2013 under the General Female Category. However, after being diagnosed with Gender Identity Disorder, they got gender reassginment surgery (GRS) and transitioned to male. They subsequently married a woman and became a father to two children.

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He has now requested authorities to change his name and gender in service records, without which him and his family face difficulties accessing benefits entitled to them as a result of his service, the petitioner claims.

However, the Government of Rajasthan opposed his claims, arguing that a declaration from the Civil Court was needed for a change in sex based on gender identity.

However, pointing at the Transgender Persons (Protection of Rights) Act of 2019, the court notes that individuals who have undergone GRS prior to 2019  are allowed to apply for a certificate indicating their gender change. Denying this right to those who have already undergone the surgery contradicts the purpose of the Act and perpetuates discrimination, the Rajasthan High Court said.

Observing this, the court directed the authorities to submit a compliance report and adjourned the matter until September 4.

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India’s largest drugmaker expects specialty sales to continue driving growth

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

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India’s largest drugmaker Sun Pharma is confident that its specialty sales business will continue its growth momentum in the future. “Global specialty sales at $ 871 million, up 29 percent over same period last year, Is contributing 16.2 percent of consolidated revenue in the current fiscal as against 7.3 percent in FY18, which is more than doubled in the past 4 to 5 years,” chief financial officer (CFO) CS Muralidharan told CNBC-TV18 in an interview.

On FY24 guidance, Muralidharan said, “We are not giving any guidance for speciality, but I just want to say that last year we did if I remember $674 million from there, we got $871 million, almost 200 million up and the rest is maths can be done.”

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The top official also said that the company’s board has proposed a non-binding indication of interest to increase its stake in Taro Pharma to 100 percent, in a deal valued at nearly $300 million.

At present, Sun Pharma holds 78.48 percent stake in Taro. The company had initiated similar plans a decade earlier as well. The all-cash deal proposes to value Taro at $38 per share, which is a 41.5 percent premium over the stock’s average closing price over the last 60 days.

Sun Pharma also plans on delisting Taro from the NYSE on completion of the transaction. It is also a premium of 31.2 percent to Taro’s closing price on May 25.

Sun Pharma has proposed a reverse triangular merger for this move. For this, the company will form a wholly-owned subsidiary in the form of a Special Purpose Vehicle (SPV), which will enter into a merger agreement with Taro.
The SPV will then merge with and into Taro. The latter’s board has appointed an independent committee to evaluate this proposal. Sun Pharma is not willing to consider a sale of Taro’s shares to a third party, even as the company evaluates the proposal.

This transaction will not be subject to any financial contingency.

Sun Pharma Q4 earnings

The drugmaker posted a consolidated net profit of Rs 1,984.47 crore for the quarter ended March 31, 2023, against a loss of Rs 2,277.25 crore in the same period last year. The profit was, however, lower sequentially as it stood at Rs 2,166.01 crore in Q3FY23.

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The revenue for the reporting quarter came in at Rs 10,726 crore, up 12 percent year-on-year (YoY) as against Rs 9,560 crore in Q4FY22.

Earnings Before Interest, Taxes, Depreciation and Amortisation or EBITDA for the March quarter was at Rs 2,802.10 crore, up 19.7 percent versus Q4FY22. EBITDA margin for Q4 stood at 25.6 percent as compared to 24.8 percent in the same period year ago.

The company also approved a final dividend of Rs 4 per equity share which will be subject to the approval of the shareholders. The total dividend payout for FY23 is Rs 11.5 per share compared to Rs 10 per share for FY22.

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Rolls Royce India and director Tim Jones under CBI scanner for alleged fraud in procurement of Hawk aircraft

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

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The Central Investigation Bureau (CBI) on May 29 said it has registered a case against British Aerospace company Rolls Royce India Pvt Ltd and the automaker’s India director Tim Jones with the objective to cheat the Indian government in the procurement of Hawk Aircraft from Rolls Royce plc UK.

In a statement, the federal probing agency has said, apart from Roll Royce and its India director, it has registered a case against private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons with the objective to cheat the government of India.

CBI said the case relates to the procurement of Hawk Aircraft from Rolls Royce plc, UK and its associate group companies, including M/s Rolls Royce Turbomeca Limited.

CBI registers a case against British Aerospace company Rolls Royce India Pvt Ltd, Tim Jones, Director Rolls Royce India Pvt Ltd and private individuals Sudhir Chuadhrie and Bhanu Chaudharie and other unknown public servants and private persons with the objective to cheat the… pic.twitter.com/tREN8OUkyk

— ANI (@ANI) May 29, 2023

According to the CBI statement cited by news agency ANI, the unknown public servants abused their official positions as public servants and approved and procured a total number of 24 Hawk 115 Advance Jet Trainer (AJT) aircraft for GBP 734.21 million.

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They also permitted licence manufacturing of 42 additional aircraft by M/s Hindustan Aeronautics Limited (HAL) against materials supplied by the said manufacturer for an additional amount of $308.247 million and $7.5 million towards Manufacturer’s Licence Fee. This, in lieu of huge bribes, commissions and kickbacks paid by the said manufacturer and its officers to intermediaries, the federal probing agency said.

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Pakistan | Talks possible if Imran Khan apologises to the nation for May 9 carnage, says Finance Minister

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

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Pakistan Finance Minister Ishaq Dar has hinted that negotiations with former prime minister Imran Khan to end the political crisis were possible if he took “corrective measures” and apologised to the nation for the May 9 violence in which sensitive military installations were attacked.

Dar made this assertion during a Geo News programme on Sunday, the day when Pakistan’s ruling coalition rejected Khan’s offer for dialogue, saying talks were held with politicians, not terrorists.

Khan, the chairman of the Pakistan Tehreek-e-Insaf: party constituted a seven-member team to hold talks with the government – for developing a consensus on a date for general elections – amid a massive crackdown on his party for the May 9 violence following his arrest.

The crackdown launched after May 9 violent protests have thrown PTI into a deep existential crisis with dozens of key party leaders quitting the party daily.

The prominent leaders who have quit the party include Secretary General Asad Umar, senior leader Fawad Chaudhry and former minister Shireen Mazari.

“If he (Khan) takes corrective measures and apologises to the nation for the May 9 carnage, negotiations could be held,” Dar said.

Dar noted that before that fateful day (May 9), the government negotiated with PTI with “sincere intentions” and the two sides agreed on all matters except the date of the election.

The minister said peaceful protest was everyone’s right, but attacks on armed forces’ installations should not be condoned.

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On May 9, violent protests erupted after paramilitary Rangers arrested 70-year-old Khan from the Islamabad High Court premises in connection with a corruption case.

His party workers vandalised a dozen military installations, including the Lahore Corps Commander House, the Mianwali airbase and the ISI building in Faisalabad in response to Khan’s arrest.

The mob also stormed the Army headquarters (GHQ) in Rawalpindi for the first time.

Thousands of Khan’s supporters were arrested following the violence that the powerful Army described as a “dark day” in the history of the country.

The ambiguities of the federal government’s policy came into sharp focus, with Railways Minister Khawaja Saad Rafique asserting that there was no way talks could be held with Khan under the current situation.

“There used to be an environment and agenda for holding parleys on any issue. But the existing atmosphere is not suitable for talks,” the Dawn newspaper quoted him as saying.

Earlier this month, the National Assembly, the lower house of Pakistan’s Parliament, passed a resolution vowing to try May 9 rioters under the existing laws including the stringent Army Act and the Official Secrets Act.

Khan, a cricketer-turned-politician, was ousted from power in April last year after losing a no-confidence vote in his leadership, which he alleged was part of a US-led conspiracy targeting him because of his independent foreign policy decisions on Russia, China and Afghanistan.

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Auction of ‘valuable’ dumps at closed Kolar Gold Fields moves a step ahead

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

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A transaction advisor has been appointed to auction the “valuable” dumps at the closed Kolar Gold Fields (KGF), where global tenders will be issued to attract bids for the extraction of minerals, people in the know told CNBC-TV18.

As much as 33 million tonne (MT) of extraction waste (a by-product of mining), commonly known as ‘tailings’, is estimated to be lying at the KGF. Estimates also suggest that there are leftover gold and rare metals such as palladium and tungsten worth over Rs 30,000 crore at the KGF.

Even though any further mining at the site is ruled out for the time being,  mineral extraction is being aimed at via the non-cyanide methodology to prevent seepage of harmful chemicals into the groundwater. Global tenders would ensure widespread participation as only a few companies have the capability to employ such technology.

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Bharat Gold Mines Limited (BGML) in Karnataka, the PSU which owns the KGF, was closed in 2001 because of lack of profits from the mines. Asset monetisation of the closed company was blocked by litigation till 2013, when the Supreme Court disposed off the case.

Nationalised in 1956, the KGF site is replete with mounds of toxic residue from mining, even as efforts are underway to mitigate the environmental damage being done to the area.

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Samantha Ruth Prabhu’s ‘Shaakuntalam’ wins ‘Best Indian Film’ award at the 76th Cannes Film Festival

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

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Actress Samantha Ruth Prabhu’s latest film ‘Shaakuntalam’ bagged the ‘Best Indian Film’ award at the 76th Cannes World Film Festival. The makers of the film and the actress took to social media to express her gratitude for the win.

Along with ‘Best Indian Film’, Shaakuntalam bagged three more awards in the Best Costume Design, Best Foreign Film and Best Fantasy Film categories.

The makers of the movie shared about the awards in a tweet on Sunday.

Few more wins pic.twitter.com/Lst0sYCzU1

— Gunaa Teamworks (@GunaaTeamworks) May 28, 2023

Earlier, the film garnered accolades at the New York International Film Awards. The film bagged the titles of ‘Best Musial Film, and ‘Best Fantasy Film’ at the prestigious event. Sharing a picture of the awards, the makers of the film expressed their gratitude on Twitter.

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 “#Shaakuntalam bagged awards at the acclaimed New York International Film Awards, thank you to the jury,” they wrote.

#Shaakuntalam bagged awards at the acclaimed New York International Film Awards, thank you to the jury!@Gunasekhar1 @Samanthaprabhu2 @ActorDevMohan #ManiSharma @neelima_guna @GunaaTeamworks @SVC_official @tipsofficial pic.twitter.com/ApGDxZK3iR

— Gunaa Teamworks (@GunaaTeamworks) May 24, 2023

The mythological drama written and directed by Gunasekhar, is based on the Sanskrit epic ‘Abhigyan Shakuntalam’ written by ancient poet Kalidasa.

The film was released in five languages – Tamil, Telugu, Malayalam, Kannada, and Hindi on April 14.

It is headlined by Samantha Ruth Prabhu and Dev Mohan in the lead role. Telugu superstar Allu Arjun’s daughter, Allu Arha, also made her debut with this film.

Samantha had earlier revealed that she had initially turned down the role of Shaakuntalam.

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In an interview with TV9, Samantha said that when the offer was given to her she had just finished work with ‘Family Man 2’ in which she played the role of Raji. As the role was completely different from the one offered she was hesitant to accept it.

“Shakuntala is a symbol of purity, innocence, grace and dignity. Raji, on the other hand, was all about being gritty and real. I wasn’t sure if I could transform into Shakuntala at that point,” Samantha told TV9.

However, she ‘confronted her fears’ which bothered her for the last three years and accepted the offer to work in the film.

On the work front, Samantha will be next seen in the Indian adaptation of Amazon Prime Video’s ‘Citadel’ alongside Bollywood star Varun Dhawan.  She is also working on the romantic drama ‘Kushi’ with Vijay Deverakonda, and the film is expected to be released in September.

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