5 Minutes Read

DLF block deal: Stock cracks 4% after shares worth Rs 1,316 cr change hands

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

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Summary

DLF block deal: The stock witnessed strong profit booking following a large trade of 2.6 crore shares, equivalent to 1 percent equity, happened early morning. The transaction was worth Rs 1,316.2 crore.

Shares of realty major DLF tumbled up to 4 percent in Tuesday’s trade following multiple block deals on the counter. At 11:06 am, the scrip was trading 3.95 percent lower at Rs 498.25 apiece on the NSE.

The stock witnessed strong profit booking following a large trade of 2.6 crore shares, equivalent to 1 percent equity, happened early morning. The transaction was worth Rs 1,316.2 crore.

The deal’s issue price was set at a 3 percent discount to the current market price (CMP).

The seller in this transaction was likely the promoter group. DLF promoter group were looking to sell more than 2.15 crore shares of the real estate major to Rs 1086.2 crore.

Consequent to the deal, the company’s weight in FTSE index may rise slightly higher potentially resulting in an inflow of $5.5 million, said Abhilash Pagaria of Nuvama Research. No immediate impact is foreseen in near term in MSCI index, Pagaria added.

Earlier, sources told CNBC TV-18 that a block deal was scheduled for today (August 1) in real estate company, amounting to Rs 1,086.2 crore.

DLF Q1 numbers

DLF Ltd’s consolidated net profit surged 12 percent year-on-year (YoY) to Rs 527 crore for the first quarter that ended on June 2023. The same was Rs 470 crore in the corresponsing period of last year.

The company’s revenue during the quarter under review, however, fell by a marginal 1 percent to Rs 1,423 crore in the June quarter. It was Rs 1,441 crore a year ago.

Sequentially, the net profit dipped 8 percent as against Rs 570 crore posted in the preceding March quarter.

Revenues declined 2 percent quarter-on-quarter. DLF has reported an EBITDA or earnings before interest, tax, depreciation and amortisation at Rs 396 crore in the reporting quarter, down 4 The company year-on-year.

Meanwhile, margins for the June quarter too declined at 27.8 percent, compared to 28.6 percent in the same period a year ago.

Further, DLF announced that it enter the Mumbai real estate market through its subsidiary DLF Home Developers.

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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Mumbai Rains: IMD forecasts city to receive moderate rain; Check details here

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

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Summary

As per IMD, Maharashtra is expected to receive light to moderate rainfall in the coming days along with heavy rain on August 3.

The India Meteorological Department (IMD) has predicted light to moderate rain for Mumbai city and neighbouring districts on Tuesday, August 1. After heavy showers in the last few days, the intensity of rain in Mumbai and neighbouring areas is expected to slow down this week.

According to the weather agency, Konkan and Goa region and ghat areas of central Maharashtra are expected to witness light to moderate rainfall in the next five days along with the possibility of very heavy rainfall on August 3. IMD has issued an orange alert for Maharashtra and Goa for Wednesday and also has suggested people remain alert and take necessary precautions.


The Mumbai city received 2.85 mm rainfall in the last 24 hours till 8 AM on August 1, according to the Brihanmumbai Municipal Corporation (BMC) data. During the same period, 7.46 mm of rain was recorded in the Eastern Suburb while the Western Suburb received 7.68 mm of rainfall.


There was no information of any disruption in the operation of Mumbai local trains and BEST bus services due to rain on Tuesday. Despite the rain yesterday, there were no BEST bus diversions reported in Mumbai.

During the period of strong monsoon season, six out of the eight districts in the Marathwada region of Maharashtra are still facing a deficit of rainfall. Parbhani has received only about 73 percent of expected rainfall till July, according to a PTI report.

The Marathwada region consists of eight districts that are Aurangabad, Osmanabad, Jalna, Beed, Latur, Nanded, Hingoli, and Parbhani.

Meanwhile, the collective water stock in the seven lakes supplying water to Mumbai has reached 76.50 percent, along with four out of the seven reservoirs overflowing.


Separately, Northwest India, Uttarakhand and West Uttar Pradesh are expected to receive very heavy rainfall in the coming two days, according to IMD predictions. Additionally, the eastern states like Odisha, Jharkhand, Gangetic West Bengal and Sikkim are expected to witness very heavy rainfall in the coming days.

Besides Maharashtra, the Northeast and Southern states are expected to witness light to moderate rainfall along with heavy rainfall in isolated places, according to IMD.

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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Dean Kim of William O’Neil predicts India’s GDP growth to outshine China; Unveils preferred stocks

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

 Listen to the Article (6 Minutes)

Summary

In an interview with CNBC-TV18, Dean Kim of William O’Neil + Co expressed optimism regarding India’s economic growth in comparison to its neighbour China. He revealed that the GDP growth forecasts for India were anticipated to be more robust for the next year, indicating promising prospects for the country’s economy.

India’s economic growth is projected to be stronger not only in the coming year but also in the foreseeable future. This indicates that China needs to put in more effort to stimulate its economy. If China decides to implement additional stimulus measures, it could positively impact the market and potentially attract more liquidity towards their economy. However, as things stand currently, India stands as a promising and well-performing market.

In an interview with CNBC-TV18, Dean Kim of William O’Neil + Co expressed optimism regarding India’s economic growth in comparison to its neighbour China. He revealed that the GDP growth forecasts for India were anticipated to be more robust for the next year, indicating promising prospects for the country’s economy.

He said, “I was looking at the GDP growth forecast for China versus India and India is still stronger in terms of GDP growth headline into next year and beyond. So, China has more work to do in terms of providing more stimulus to its economy. If they were to come out with more stimulus – that could be good news for the market and perhaps that could sway the liquidity over to China, but as we are currently sitting, I still see India as a good performing market.”

In addition to discussing macroeconomic trends, Kim also provided valuable insights into the stock market. He disclosed several stocks that William O’Neil + Co. was closely monitoring and identified some high-potential investment opportunities in various sectors.

Kim highlighted Titan, an Indian retail company renowned for its diverse product range, including watches, jewellery, eyewear, and more, as one of the best picks. The company’s consistent growth and strong market position make it an attractive pick for investors seeking exposure to India’s booming retail sector.

With the rise of e-commerce in India, Indiamart Intermesh has emerged as a prominent player in the online marketplace segment. Kim recognised the company’s potential to capitalise on the increasing digitalisation of businesses, making it an exciting prospect for investors interested in the technology and e-commerce sector.

Kim also suggested considering investments in Siemens and SKF India, the  companies heavily involved in the infrastructure sector. As India continues to invest in its infrastructure development, these companies are likely to benefit from increased demand for their products and services.

Shifting the focus to the automotive sector, Kim pointed out Ashok Leyland as a company worth considering. With India’s ever-expanding transportation needs, Ashok Leyland, a major player in the commercial vehicle industry, stands to gain from the country’s growing infrastructure and logistics demands.

Minda, a leading player in the auto components industry, was another stock recommended by Kim. As the automotive sector evolves and advances, the demand for reliable and innovative auto components is expected to rise, presenting opportunities for Minda and its investors.

In the technology sector, Kim identified Coforge as a stock with considerable potential. Coforge’s expertise in providing IT solutions and services could position the company to benefit from India’s expanding digitalisation initiatives and the global tech industry’s growth.

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com’s blog

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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Search underway for missing Indian woman from Spectrum of the Seas cruise ship in Singapore

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

 Listen to the Article (6 Minutes)

Summary

A 64-year-old Indian woman, Reeta Sahani, has gone missing from the cruise ship Spectrum of the Seas while sailing through the Strait of Singapore. Her husband, Jakesh Sahani, reported her disappearance on the last day of their four-day cruise from Penang, Malaysia, to Singapore. The search is ongoing, and her family is seeking answers about her current status.

A 64-year-old Indian woman on board a cruise ship has gone missing as the ship sailed through the Strait of Singapore from Penang, the northern island state of Peninsular Malaysia. The incident was reported on Monday with Reeta Sahani and her husband Jakesh Sahani on their way back to Singapore from Penang aboard the Spectrum of the Seas. Monday was also the last day of the couple’s four-day cruise, reports said.

Jakesh, 70, woke up to find his wife missing from their room, according to a report by The Straits Times on Tuesday. The retiree tried to locate his wife on the sprawling cruise ship but in vain. He later informed the ship’s crew, who told him the ship’s overboard detection systems had been alerted that something had fallen from the vessel into the Singapore Strait.

It is a 113-km long and 19-km wide busy shipping route between the Strait of Malacca and the South China Sea with Singapore on the north of the channel. Jakesh’s son, Apoorv Sahani, who was not on the cruise, said his family members are still in the dark about his mother’s current status.

The 39-year-old architect said his mother could not swim, and that his father was made to go through an interview with the police that lasted a few hours. We have asked to see the CCTV footage, but, so far, we have not received anything yet for us to confirm that it was her. All we know is that the ship’s crew thinks she jumped into the water, the broadsheet quoted Apoorv as saying.

Eventually, my father was told to get down from the ship because there was another cruise that was going to take place, but we think she might still be on the ship, stuck somewhere, he said. Apoorv added, She was on a holiday enjoying herself and then this whole thing happened. It does not make sense.

Meanwhile, the Maritime and Port Authority of Singapore (MPA) said in a statement on Monday that the Maritime Rescue Coordination Centre (MRCC) Singapore was notified about the incident at about 7.50 am. The passenger was on board the Cyprus-flagged Spectrum of the Seas, and had fallen overboard, although no further details were provided, it said.

MRCC Singapore is coordinating the search and immediately issued a navigational safety broadcast to vessels in the Singapore Strait and vessels in port to keep a lookout for the missing person and report any sightings to MRCC Singapore, said the statement. It added that the vessel was berthed earlier in Singapore to support the investigations and had departed at around 4.30 pm.

Checks on the marine tracking website Marine Traffic showed that it is currently bound for Nha Trang in Vietnam. A spokesman for Royal Caribbean, which operates the vessel, said the incident was reported to local authorities immediately.

The company declined to comment further, citing the privacy of the guest and their family, but said its team is offering support and assistance to them. According to the cruise tracking website CruiseMapper, Spectrum of the Seas is the first Royal Caribbean cruise ship belonging to the Quantum-Ultra class a larger and upgraded version of the Quantum class.

It has 2,137 staterooms and can cater to 4,819 passengers, with 16 decks, 18 dining options, four swimming pools and 10 outdoor jacuzzis.

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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Japan’s factory activity falls on soft orders: PMI

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

 Listen to the Article (6 Minutes)

Summary

The final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) fell to 49.6 in July, slightly higher than flash 49.4 but down from 49.8 in June.

Japan’s factory activity contracted at a faster pace in July, a business survey showed on Tuesday, taking a hit from soft orders amid weakening global economic conditions.

The final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) fell to 49.6 in July, slightly higher than flash 49.4 but down from 49.8 in June.

The decline was largely due to a deterioration in new orders, given weak customer demand from domestic and overseas markets, said Usamah Bhatti at S&P Global Market Intelligence, which compiled the survey.

Output, another major component of the headline index, kept shrinking albeit at a slower rate than in June. Data on Monday showed Japan’s factory output grew in June for the first time in two months thanks to solid auto production.

Subindexes gauging new orders and output both stayed in the sub-50 territory in June for a second month. A reading below the 50 line indicates a contraction.

Japan has to date weathered worsening global economic conditions relatively well thanks to robust domestic service activity and ultra-loose monetary policy. Export-reliant manufacturers, however, have suffered from slowing demand overseas.

On a brighter note, the S&P survey showed easing cost pressures for companies thanks to sliding fuel and commodity prices.

“There were sustained signs that inflationary pressures were easing in July, as signalled by the slowest rate of input cost inflation since February 2021 to a reading that was broadly similar to the long-run series average,” Bhatti said.

Looking a year ahead, manufacturers’ output expectations remained upbeat, with the subindex in line with June’s reading, which was the strongest since October 2021.

Hopes for a sustained improvement in demand as well as the fading economic impact of the pandemic and inflationary pressures contributed to the positive outlook, the survey showed.

Also Read: China’s July factory activity swings back to contraction: Caixin PMI

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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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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L&T Share Price: Construction unit wins multiple ‘large’ orders for heavy civil infrastructure business

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

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Summary

All orders between Rs 2,500 crore and Rs 5,000 crore are classified under the ‘large’ category by L&T.

Engineering and Infrastructure conglomerate Larsen and Toubro Ltd. (L&T) on Tuesday announced that its subsidiary L&T Construction has won multiple orders for its heavy civil infrastructure business.

The company didn’t disclose the exact value of the orders, but defined them as ‘large’ orders. All orders between Rs 2,500 crore and Rs 5,000 crore are classified under the ‘large’ category by L&T.

L&T said that the heavy civil infrastructure business vertical of L&T Construction has received an order from state-run Rail Vikas Nigam Ltd. (RVNL) for the design and construction of an underground metro project in connection with Joka – Esplanade Metro Corridor in the city of Kolkata.

Major scope of work for the project comprises of ‘design and construction of the ramp and underground metro railway works from Mominpur to Esplanade’, a 5.05 km track that includes four underground stations (viz. Khidderpore, Victoria, Park Street and Esplanade).

It would also include design and construction of tunnels by tunnel boring machine and cut and cover methods, architectural finishing works, track works, etc.

L&T Construction has also won another order from a client in the Middle East for a mandate to rehabilitate structures for strategic purposes.

“This package is the first of its kind for L&T in the Middle East market,” the company said in a press release. The scope of work includes feasibility study, concept design, detailed design, construction, and installation of special systems.

Last week, L&T reported a 46.5 percent year-on-year jump in consolidated net profit to Rs 2,493 crore for the quarter ended June 30, 2023.

This was primarily aided by the execution of a healthy opening order book in its projects and manufacturing portfolio.

The company said that it had received orders worth Rs 65,520 crore at the group level during the June quarter, registering a strong year-on-year growth of 57 percent.

Shares of Larsen & Toubro are trading 0.5 percent lower at Rs 2,666.95.

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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Four names from the Brij Bhushan camp to contest for top roles in the upcoming WFI polls

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

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Summary

The polls will take place on August 12 with Sanjay Kumar Singh from Uttar Pradesh (UP), a close aide of the outgoing president, set to contest for the apex position. SP Deswal from Uttarakhand is in the fray to become the new treasurer whereas Darshan Lal belonging to the Chandigarh wrestling body has put his name in for the role of the general secretary. The three aforementioned names have Brij Bhushan’s backing.

Four members from the Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh’s camp filed their nominations for the top posts of the association at the Olympic Bhawan in New Delhi on Monday.

The polls will take place on August 12 with Sanjay Kumar Singh from Uttar Pradesh (UP), a close aide of the outgoing president, set to contest for the apex position. SP Deswal from Uttarakhand is in the fray to become the new treasurer whereas Darshan Lal belonging to the Chandigarh wrestling body has put his name in for the role of the general secretary. The three aforementioned names have Brij Bhushan’s backing.

The Brij Bhushan camp claims to have the support of 22 of the 25 state units and, after filing nominations, expressed “confidence” of winning all 15 posts during the WFI elections on August 12. On a day of hectic activity at the Olympic Bhawan, a convoy of nominees and supporters from the Brij Bhushan camp arrived with the “blessings” of the BJP leader, and after extensive paperwork, filed their nominations before former J&K High Court Chief Justice Mahesh Mittal Kumar, the Returning Office appointed for the elections.

The last date for withdrawing nominations is August 7. “There are four candidates for the post of president, three for senior vice-president, six for vice-president, three for the post of general secretary, two for treasurer, three for joint secretary and nine for executive members’ post. Against 15 posts, 30 persons have applied,” said Justice Kumar.

Also Read: WFI Elections: Brij Bhushan Sharan Singh to name ‘his candidates’ for numerous posts on Monday

“Tomorrow, we will display the list of all the candidates whose nomination papers are found to be in order. It will be put up on the (WFI) website tomorrow. One lady is there (for the post of president),” he added. The only lady candidate on the WFI executive committee members’ list is Anita Sheoran, representing Odisha. Sheoran was one of the witnesses in the alleged sexual harassment case against Brij Bhushan.

The Brij Bhushan camp has filed a total of 18 nominations for 15 posts, while candidates from the rival camps left without disclosing which posts they were filing their nominations for. The Brij Bhushan camp nominees and supporters were the first to arrive at the Olympic Bhawan past noon, after the BJP leader held another round of meeting at a five-star hotel before the convoy left to file nominations.

“18 nominations have been filed from our side. Our candidate for the post of president is Sanjay Kumar Singh. We have filed (nominations) for three vice presidents,” said Vishal. Asked why Brij Bhushan did not accompany the nominees after two days of hectic meetings, Vishal said, “I don’t think there was any need for him to come. He is not on the voters’ list.

“He doesn’t need to come, but we all are supporting him. We all are here for him. The WFI has done tremendously well under his leadership. And we really hope that whosoever comes next carries on with the good work.” On whether 22 state units were supporting the Brij Bhushan group, Vishal said, “I believe that so. We are more than confident (of winning the elections). If you see the turnout, majority of the people have come along with us. “But it’s free will, we respect everybody’s free will and if an election happens we are more than okay with it.” He also lashed out at those who are saying that the family wanted to make WFI a dynastic affair.

“All the allegations that were put up against us that we are power hungry… a very polite and a very quiet answer has been given (that none of the Brij Bhushan family members is in the fray for elections). The family is not there. But whatever loss has happened to the wrestlers (due to the protest) in the past six months… people who were supposedly fighting for the wrestlers, now should focus (that) the wrestler’s interests and benefits are taken care of. “It’s not happened as of now (during the trials). I see that pick and choose system has happened,” said Vishal.

On whether the new WFI office-bearers would change the selection criterion for the upcoming Asian Games, he said, “I am the wrong person to answer that. I am not in the committee.” Presidential nominee Sanjay Singh, who is also the UP wrestling body’s general secretary, said, he had “full confidence” that his panel would win all the posts. “100 per cent we will win all the seats.” He also said any decision on changes in the team selection for the Asian Games will be “taken after August 12” when the new office-bearers take charge.

(With inputs from PTI)

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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Pune Traffic Police issues advisory for PM Modi’s visit today: Check routes to avoid

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

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Summary

PM Modi will inaugurate Pune Metro rail routes and lay the foundation for development projects at around 12.45 PM.

The Pune Traffic Police has issued an advisory for Prime Minister Narendra Modi’s visit to the city today, August 1, urging commuters to avoid certain roads and key traffic junctions. PM Modi will inaugurate many development projects during his visit on Tuesday.

Deputy Commissioner of Police (Traffic) Vijaykumar Magar issued the advisory with the list of roads and traffic junctions to remain restricted for commuters between 6 AM and 3 PM on August 1 due to VVIP convoy movement during PM Modi’s visit.

Commuters are advised to avoid roads connected to Pune University Square, Simla Office Square, Sancheti Chowk, SG Barve Chowk, Budhwar Chowk, Sevasadan Chowk, Alka Chowk, Tilak Chowk, Jedhe Chowk, Sadalbaba Chowk, and Golf Club Chowk. Additionally, citizens have been advised to avoid Sangamwadi Chowk, Fergusson College, and Vimantal Road, according to the advisory.

At around 11 AM, the Prime Minister will perform puja at Dagdusheth Mandir. He will receive the Lokmanya Tilak National Award at 11:45 AM, as per the schedule released by the PMO.

At 12:45 PM, PM Modi will inaugurate Pune Metro rail routes and lay the foundation for development projects. The Prime Minister will also inaugurate a waste-to-energy plant constructed by the Pimpri-Chinchwad Municipal Corporation.

Given the importance of the Prime Minister’s visit, the Pune City Police has deployed more than 5,000 personnel and officers on duty. The team includes Maharashtra’s elite Force One anti-terror commandos. Prohibitory orders have been imposed from July 30 to August 2, and the police have strictly banned the use of drones for video shooting during this period.

Moreover, an additional layer of security will be provided by local police units, focusing on securing the venues and routes through which the Prime Minister’s convoy will pass.

Alongside the security measures, the Pune Municipal Corporation (PMC) conducted RT-PCR tests for more than 250 individuals who will be present at events to be attended by PM Modi. Samples were collected and sent to Sassoon General Hospital for testing on Sunday and Monday.

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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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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Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

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Donald Trump group reports big legal expenses, claws money back from super PAC

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

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Summary

Trump’s Save America group, which he founded in 2020 following his defeat in that year’s presidential election, said in a filing to the Federal Election Commission that it spent more than $21 million on legal expenses during the first half of 2023.

Donald Trump’s legal entanglements on Monday showed signs they could impact spending on his White House bid, as one of his main political groups reported massive outlays on legal expenses while also clawing back more than $12 million it had transferred to a super PAC supporting Trump’s 2024 campaign.

Trump’s Save America group, which he founded in 2020 following his defeat in that year’s presidential election, said in a filing to the Federal Election Commission that it spent more than $21 million on legal expenses during the first half of 2023.

The sum reported was much less than major media had expected, but still substantially higher than the more than $16 million that Save America had reported spending on legal expenses between 2020 and 2022.

The financial reports to the Federal Election Commission provide few details on the nature of Save America’s legal spending, with filings describing many of the payments merely as “legal consulting.”

Trump has been criminally indicted twice since leaving office in 2021, a first for a U.S. leader.

He faces dozens of federal charges in Florida over the retention of sensitive government records at his home in the state. He also faces state charges in New York following an investigation into hush money allegedly paid to an adult film star.

The Washington Post on Saturday reported that Save America had ramped up legal spending to defend Trump and his advisers, among others.

Save America largely raised money from small donors before Trump entered the 2024 presidential race and the group is formally separate from his election campaign.

But it has been a principal funder of a super PAC known as MAGA Inc, which has spent heavily on ads supporting Trump. Save America transferred some $60 million to the group in 2022, but on Monday it reported to election regulators that it got refunds of more than $12 million from MAGA Inc.

The super PAC, which is staffed by former Trump employees, submitted its own report on Monday showing it raised just over $13 million in contributions in the first six months of the year, a similar amount to the sum it returned to Save America.

Trump remains the front-runner in the Republican nomination contest. But some political donors have shunned him this year, citing doubts over his ability to beat Democratic President Joe Biden, who is seeking re-election.

Among the big donors sticking with Trump were Charles Kushner, who gave MAGA Inc $1 million and whose son Jared is married to Trump’s daughter Ivanka. Woody Johnson, the owner of the New York Jets American football team, also gave $1 million, according to MAGA Inc’s filing.

MAGA Inc reported having $30.8 million in the bank at the end of June. That is well below the nearly $97 million had by a super PAC backing Republican presidential hopeful Ron DeSantis, according to a separate campaign finance disclosure.

Trump’s campaign reported having $22.5 million at the end of June, while DeSantis, the governor of Florida and a distant second to Trump in public opinion polls, had $12.2 million in his campaign accounts. Save America ended June with just over $3 million.

Citing anonymous sources, the Washington Post and the New York Times reported over the weekend that Save America’s filing would show as much as $40 million in spending on legal expenses this year.

Also Read: ‘Not found’: China’s ex-foreign minister is gone but wait for explanation goes on

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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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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10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
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What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Rahul Gandhi meets vegetable and fruit vendors in Delhi’s Azadpur Mandi | WATCH

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

 Listen to the Article (6 Minutes)

Summary

Congress leader Rahul Gandhi early on Tuesday morning met with vegetable and fruit vendors at the Azadpur Mandi in Delhi. A video shows Gandhi interacting with several vendors and taking a tour of the market. He was accompanied by his bodyguards. VIDEO | Congress leader Rahul Gandhi met vegetable and fruit vendors at Delhi’s Azadpur …

Congress leader Rahul Gandhi early on Tuesday morning met with vegetable and fruit vendors at the Azadpur Mandi in Delhi.

A video shows Gandhi interacting with several vendors and taking a tour of the market. He was accompanied by his bodyguards.

His visit to Delhi’s Azadpur Mandi comes just a few days after Gandhi was discharged from a hospital in Kerala where he was completing a week-long wellness treatment.

Gandhi on Saturday, July 29, completed an Ayurvedic wellness treatment at the famous Kottakkal Arya Vaidya Sala in Malappuram and left for Delhi.

In a Facebook post, Gandhi said his stay at the hospital was a rejuvenating experience.

He thanked the doctors and staff for the “love and care” they shared for him.

“My stay at the Arya Vaidya Sala in Kottakkal has been a rejuvenating experience. My heartfelt thanks to Dr. PM Varier and his team of doctors and other staff, for the love and care they shared with me these past few days,” he posted on Facebook with a picture.

With agency inputs.

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

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

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
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?