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Global cues subdue key equity indices; Vedanta scrips fall

Weakness in global markets along with concerns of renewed geopolitical and trade tensions subdued the key Indian equity indices on Wednesday afternoon making the bourses trade on a flat-to-negative note.
 
According to market observers, heavy selling was witnessed in oil and gas and metal stocks.
 
However, healthy buying activity in capital goods, banking and IT stocks arrested futher downslide on the indices.
 
At 12.49 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,514.35 points, down 22.35 points or 0.21 per cent from the previous close of 10,536.70 points.
 
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 34,656.63 points, traded at 34,626.50 points (12.50 p.m.) -- down 24.74 points or 0.07 per cent -- from its previous session's close of 34,651.24 points.
 
The Sensex has so far touched a high of 34,668.47 points and a low of 34,520.65 points.
 
The BSE market breadth, however, was bullish with 1,358 advances and 1,035 declines so far.
 
"Equity markets opened mixed following Asian indices, after the US markets closed in red following negative reactions by President Trump on the ongoing US-China talks, and sudden change in decisions of not having the peace talks with North Korean leader in Singapore," said Dhruv Desai, Director and Chief Operating Officer, Tradebulls.
 
So far, the major gainers on the BSE were State Bank of India (SBI), ICICI Bank, Tata Motors, Sun Pharma and NTPC while Tata Steel, Dr Reddy's Lab, ONGC, IndusInd Bank and Kotak Mahindra Bank were the major losers.
 
On the NSE, the top gainers were SBI, Cipla and ICICI Bank. The major losers were Hindustan Petroleum, BPCL and Vedanta. 
 
Shares of Vedanta declined both on the BSE and NSE as protests against its Sterlite Copper project in Tamil Nadu took a violent turn and nine people died, including a girl, in police firing on Tuesday.
 
At 12.54 p.m., Vedanta's shares on the BSE were trading at Rs 257.5 per share, down 12 points or 4.45 per cent from its previous close.
 
IANS
 
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Key Indian equity indices open flat

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The key Indian equity indices opened on a flat-to-negative note on Wednesday.
 
At 9.18 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,525.70 points, down 11 points or 0.1 per cent from the previous close of 10,536.70 points.
 
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 34,656.63 points, traded at 34,628.13 points (9.18 a.m.) -- down 23.11 points or 0.07 per cent -- from its previous session's close of 34,651.24 points.
 
The Sensex has so far touched a high of 34,667.78 points and a low of 34,620.67 points.
 
The BSE market breadth was tilted towards the bulls with 584 advances and 535 declines so far.
 
IANS
 
 
 
 
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IPL: Chennai edge out Hyderabad in thriller to enter final

A fighting unbeaten half-century under pressure from Faf du Plessis helped Chennai Super Kings edge past Sunrisers Hyderabad by two wickets in the first qualifier here on Tuesday to enter the final of the Indian Premier League (IPL).
 
Needing 140 runs to win, Chennai made heavy weather of what should have been a comfortable chase before crossing the line with five balls to spare.
 
Chennai have reached the final seven times in the nine seasons they have competed in the IPL. They had missed out on the previous two seasons as they were banned following the spot fixing and betting scandal.
 
Du Plessis batted through the innings to remain not out on 67 runs, with five hits to the fence and four sixes studding his 42-ball knock. The opener kept on playing sensibly throughout even as no other batman clicked at the other end. 
 
For Hyderabad, spinner Rashid Khan, Siddarth Kaul and Sandeep Sharma scalped two wickets each. 
 
Hyderabad will now face the winner of the match between Kolkata Knight Riders and Rajasthan Royals in the Qualifier 2 on May 25 in Kolkata.
 
Chasing a modest total, Chennai lost their first wicket on the fifth ball of the first over. Wicket-keeper Shreevats Goswami took a brilliant catch to dismiss opener Shane Watson (0) off pacer Bhuvneshwar Kumar.
 
In-form Suresh Raina was playing beautifully, hitting four well-timed boundaries on his way to 22 off 13 balls. But he was bowled by pacer Kaul in the fourth over when he shuffled across and exposed his leg-stump.
 
Off the very next ball, Ambati Rayudu (0) was also clean bowled by Kaul. Rayudu's dismissal was largely due to poor shot selection as he misjudged a slow yorker only to see the ball crash into the base of middle and off-stump.
 
Unperturbed by the fall of wickets, du Plessis kept on playing sensibly. New batsman Mahendra Singh Dhoni (9), then joined in the middle and the duo rotated the strike perfectly.
 
But just when the duo started timing the ball well, leg-spinner Rashid Khan delivered one that turned the wrong way to dismiss Dhoni.
 
With Chennai struggling at 39/4 after eight overs, all eyes were on the lower-middle order But it failed as Dwayne Bravo (7), Ravindra Jadeja (3) and Deepak Chahar (10) went back to the pavilion in quick succession.
 
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Du Plesis, on the other hand, started unleashing his shots and hammered a few sixes but lacked support from other batters 
 
Harbhajan Singh could only manage two runs off nine balls before being run out. With Chennai in deep trouble, Shardul Thakur gave some much needed impetus to the run rate with three boundaries off the five balls he faced.
 
Thakur, who remained unbeaten on 15 runs, played sensibly and gave the strike to du Plesis.
 
With Chennai needing six runs off the last over, du Plessis brought up the victory in style over the umpire's head off Bhuvneshwar Kumar's bowling.
 
Earlier, lower-order batsman Carlos Brathwaite's unbeaten 43-run knock and some useful contributions from skipper Kane Williamson and Yusuf Pathan helped Sunrisers Hyderabad post a modest total of 139/7 in their allotted 20 overs.
 
Put in to bat, Hyderabad started the proceeding on a poor note, losing opener Shikhar Dhawan (0) on the first ball.
 
Other batsmen Goswami (12), Manish Pandey (8) and Shakib Al Hasan (12) also failed to deliver when needed the most. Brathwaite then came in the middle and played a quick-fire knock and took his team out of troubled waters. He played 29 balls and one boundary and slammed four sixes.
 
For Chennai, Dwayne Bravo scalped two wickets.
 
Brief scores: Sunrisers Hyderabad: 139/7 in 20 overs (Carlos Brathwaite 43 not out; Dwayne Bravo 2/25) against Chennai Super Kings: 140/8 in 19.1 overs (Du Plesis 67; Rashid Khan 2/12)
 
IANS
 
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Q4 results, value buying help equity indices break 5-day losing streak

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Attractive valuations, along with healthy quarterly results, supported the key Indian equity indices closed Tuesday's volatile trade session on a positive note after five consecutive days of decline.
 
After opening on a negative note, the indices rose to intra-day high levels in the early hours of trade, before ceding most of their gains due to weakness in global markets and rise in crude oil prices.
 
Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,536.70 points -- up by 20 points or 0.19 per cent -- from its previous close of 10,516.70.
 
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 34,601.49 points, closed higher by 35.11 points or 0.1 per cent, at 34,651.24 points.
 
The Sensex touched a high of 34,754.60 points and a low of 34,550.22 points during the intra-day trade. 
 
"After a choppy morning trade, indices firmed up in the afternoon and managed to settle with small gains," said Deepak Jasani, Head of Retail Research at HDFC Securities.
 
Jasani further told IANS: "Broad market indices like the BSE mid-cap and small-cap indices gained more, thereby outperforming the main indices."
 
Both the S&P BSE mid-cap and small-cap ended 0.65 per cent from their respective previous closing levels.
 
Consequently, the BSE market breadth was tilted towards the bulls with 1,405 advances against 1,219 declines. On the NSE, too, the market breadth was positive.
 
On the currency front, the Indian rupee strengthened by eight paise against the US dollar to 68.05, from its previous close at 68.13 per greenback.
 
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,651.63 crore, while the domestic institutional investors bought stocks worth Rs 1,496.83 crore.
 
Sector-wise, the S&P BSE auto index rose the most, by 413.76 points, followed by the metal index which increased by 211.32 points and the healthcare index that ended 143.12 higher from its previous close.
 
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On the other hand, the S&P BSE oil and gas index fell by 59.23 points, followed by the energy index, which ended 11.10 points lower and the FMCG index that fell by 10.97 points. 
 
On the NSE, according to BNP Paribas Mutual Fund's Senior Fund Manager for Equities, Abhijeet Dey, barring the FMCG index, which closed in the red, all other sectoral indices closed the trading day in the positive zone. 
 
Dey further said that auto stocks gained the most among the sectors due to expectation that China may cut import duty on passenger cars.
 
The major gainers on the Sensex were Dr Reddy's Lab, up 6.30 per cent at Rs 2,013.75; Bajaj Auto, up 3.86 per cent at Rs 2,825; Tata Motors, up 3.78 per cent at Rs 307.75; State Bank of India, up 3.69 per cent at Rs 254.15; and Coal India, up 3.23 per cent at Rs 278.45 per share.
 
The top losers were Tata Consultancy Services, down 1.40 per cent at Rs 3,508.05; Asian Paints, down 1.27 per cent at Rs 1,283.5; Axis Bank, down 1.27 per cent at Rs 522; IndusInd Bank, down 1.19 per cent at Rs 1,898.50; and ITC, down 1.17 per cent at Rs 278.8 per share.
 
IANS
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SBI posts Q4 loss of Rs 7,718 cr on provisions, gross NPAs up

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Reflecting the continued pressure on state-run banks, State Bank of India (SBI) on Tuesday posted a loss of Rs 7,718 crore for the fourth quarter ended March, mainly due to increased provisioning, the bank said in a stock exchange filing.
 
The country's largest lender had recorded a profit after tax (PAT) of Rs 2,815 crore in the corresponding quarter of the last fiscal.
 
SBI's fourth quarter loss more than trebled over that of the previous quarter when the bank had incurred a loss of Rs 2,416 crore. 
 
"Bank's net loss is attributable to lower trading income and significant MTM (mark-to-market) losses due to hardening of bond yields; incremental provision during the quarter for NPAs (non-performing assets); higher provisioning on account of wage revision and enhancement in gratuity ceiling," SBI said.
 
Operating profit in the fourth quarter at Rs 15,883 crore declined by 8.24 per cent, from Rs 17,309 crore in the same quarter of last year. 
 
Net interest income during January-March at Rs 19,974 crore declined by 5.18 per cent, from Rs 21,065 crore in the same period a year ago "contributed mainly by reduction in MCLR (marginal cost of lending rate) and base rate and increase in NPAs".
 
"Interest expenses on deposits during the quarter in question at Rs 33,206 crore was down by 6.28 per cent, from Rs 35,431 crore in Q4FY17 despite a growth in deposits by 4.68 per cent," the statement said. 
 
The bank's accumulated problem of gross NPAs, or bad loans, during the quarter in consideration at Rs 2,23,427 crore, worsened at 10.91 per cent, as compared to the 10.35 per cent in the previous quarter, and a gross NPA level of 6.9 per cent registered in the same quarter a year ago. 
 
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The net NPA ratio during the January-March quarter stood at 5.73 per cent, which is a marginal rise over 5.61 per cent on this count in the previous quarter. Net NPAs in the same quarter last year were at 3.71 per cent.
 
Provisioning shot up to Rs 28,096 crore in the fourth quarter, compared to Rs 18,876 crore in the previous quarter.
 
SBI Chairman Rajnish Kumar said at a press conference here that the bank's provision coverage ratio stands at 66 per cent, which reflects the strength of its balance sheet.
 
"Financial year 2017-18 has been a difficult year for the entire industry and SBI is no exception. The loss number may look big but look at the strength of the balance sheet," he said. 
 
Regarding the NPAs, the Chairman said the bank has "put the past behind". Some remnants of the bad loan cycle, however, remain.
 
With results coming in during market hours, the SBI stock closed on Tuesday at Rs 254.15 a share, up Rs 9.05, or by 3.69 per cent, over its previous close on the Bombay Stock Exchange.
 
IANS
 
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130 years of Mumbai's iconic Chhatrapati Shivaji Maharaj Terminus

A view of the Chhatrapati Shivaji Maharaj Terminus building in Mumbai. Photo: Central Railway website
A view of the Chhatrapati Shivaji Maharaj Terminus building in Mumbai. Photo: Central Railway website
Chhatrapati Shivaji Maharaj Terminus, formerly known as the Victoria Terminus, the Central Railway's main station and headquarters building here, completed 130 years of its construction on May 20, 2018.
 
An outstanding example of Victorian Gothic Revival architecture in India, it blends with themes deriving from Indian traditional architecture.
 
The building was originally planned as the office of GIP (Great Indian Peninsular) Railway. The most photographed building after the Taj Mahal, it was designed by Frederick William Stevens, a consulting architect.
 
Stevens designed the monumental Terminus which became famous as the largest building then erected in Asia. The construction started in 1878 and on Jubilee Day in 1887, it was named after Queen-Empress Victoria.
 
Later in 1996, it was renamed as Chhatrapati Shivaji Terminus. It was again renamed as Chhatrapati Shivaji Maharaj Terminus in July 2017. In 2004, UNESCO enlisted this building as World Heritage Site for its architectural splendour. From December 2012, this heritage building has been opened for public viewing on working days.
 
The Terminus was constructed at a cost of Rs 16.14 lakh and the C shaped building is planned symmetrically about the east-west axis. The crowning point of the whole building is the central main dome carrying up a colossal 16’-6’’ high figure of lady pointing a flaming torch upwards in her right hand, and a spoked wheel held low in the left hand, symbolizing `Progress’.
 
This dome has been reported to be the first octagonal ribbed masonry dome that was adapted to an Italian Gothic style building.
 
 The station was constructed with six platforms at a cost of Rs. 10.4 lakh and in 1929, the first remodelling took place to expand it to 13 platforms. Further modifications were done to the yard and the station had two more platforms thus making it a total of 15 platforms in 1994.
 
Today it has 18 platforms with a spacious east side entry as well. In April 2018, a heritage gully was inaugurated adjacent to platform no.18, where Sir Leslie Wilson, the GIP Heritage Electric Loco, and other heritage items are displayed.
 
During the centenary celebrations of Chhatrapati Shivaji Terminus Building, a postal stamp was released. In 2013, when the building celebrated quasi-centennial (125 years) anniversary, a special postal cover was released on the occasion.
 
NNN
 
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Negative global cues subdue key Indian equity indices

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Broadly negative Asian markets, along with high crude oil prices and caution ahead of key quarterly results subdued the Indian equity indices during the morning trade session on Tuesday.
 
According to market observers, heavy selling was witnessed in metals, automobile and banking stocks.
 
Around 9.30 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,497.80 points -- down by 18.90 points or 0.18 per cent -- from its previous close.
 
The barometer 30-scrip Sensitive Index (Sensex), which opened at 34,601.49 points, traded at 34,574.81 points -- lower by 41.32 points or 0.12 per cent -- from its previous session's close of 34,616.13 points.
 
Sensex has so far touched a high of 34,659.63 points and a low of 34,563.76 points during the intra-day trade.
 
On Monday -- the previous trade session -- both the indices closed in the negative territory for the fifth consecutive session, as the formation of a non-BJP government in Karnataka, along with a weak rupee dampened investor sentiments.
 
Consequently, the NSE Nifty50 closed at 10,516.70 points, down 79.70 points or 0.75 per cent from the previous close of 10,596.40 points.
 
Similarly, the barometer S&P BSE Sensex settled in the red. It had opened at 34,873.16 points, closed at 34,616.13 points -- down 232.17 points or 0.67 per cent -- from its previous session's close of 34,848.30 points.
 
IANS
 
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Shweta Bachchan to make screen debut with father Big B

 
Shweta to make screen debut with father Amitabh Bachchan
 
 
Shweta Bachchan, daughter of Bollywood megastar Amitabh Bachchan, will be seen in a jewellery ad in which she will be making her on-screen debut alongside her father.
 
Talking about the new venture, Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers said in a statement: "We believe that audience will love to see the film wherein, both, Amitabh Bachchan and Shweta play the role of a father and daughter, in the ad film for the first time." 
 
"As a brand, Kalyan has always celebrated the bonds of family and relationships and the new film epitomises family values. Shweta's design inputs will also augment Kalyan's chic and trendy signature collections," the statement said.
 
The ad which attempted to capture the value of trust and transparency of a relationship is directed by G.B. Vijay, for the jewellery brand. Big B is the brand ambassador of Kalyan Jewellers since 2012.
 
This is not the first time the brand is featuring members of Bachchan family, as Jaya Bachchan and Aishwarya Rai Bachchan also featured in a TVC to represent the brand.
 
IANS
 
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Air India Goa flight makes emergency landing in Mumbai

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An Air India flight from Goa made an emergency landing at the Chhatrapati Shivaji Maharaj International Airport here on Monday following a hydraulic failure, official sources said.
 
The flight AI-662 managed to land safely at 9.18 p.m. on the main runway which was closed for all other operations.
 
All flight operations were diverted to the secondary runway for around half an hour as the passengers were evacuated from the aircraft.
 
There are no reports any injuries to the passengers or the crew on board.
 
Normal flight operations resumed on the main runway by 9.40 p.m.
 
IANS
 
 
 
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Karnataka politics, oil prices depress equity market

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The formation of a non-BJP government in Karnataka, along with weakness in global indices and rising crude oil prices, pulled the key Indian equity indices to close in the negative territory for the fifth consecutive session on Monday.
 
According to market observers, a weak rupee against the US dollar also dampened the sentiments.
 
After opening on a flat note, the key indices rose during the early trade session but were unable to hold on to the gains for long.
 
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,516.70 points, down 79.70 points or 0.75 per cent from the previous close of 10,596.40 points.
 
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE settled in the red. It had opened at 34,873.16 points, closed at 34,616.13 points -- down 232.17 points or 0.67 per cent -- from its previous session's close of 34,848.30 points.
 
The Sensex touched a high of 34,973.95 and a low of 34,593.82 points. 
 
Broader markets like the S&P BSE mid-cap index ended 1.64 per cent lower, while S&P BSE small-cap plunged 2.2 per cent. The overall BSE market breadth was bearish with 2,003 declines against 653 advances.
 
"Sentiments were weak due to the political situation in Karnataka. Private banks, realty and pharma stocks came under selling pressure," said Deepak Jasani, Head of Retail Research at HDFC Securities.
 
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On the currency front, the Indian rupee weakened by 12 paise against the US dollar to 68.13, from its previous close at 68.01 per greenback.
 
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 166.15 crore, while the domestic institutional investors bought stocks worth Rs 149.58 crore.
 
Sector-wise, the S&P BSE IT, oil and gas and Teck (Technology, Media and Entertainment) indices posted marginal gains, up by only 18.77 points, 13.74 points and 4.72 points, respectively.
 
On the other hand, the S&P BSE auto index fell the most, by 467.06 points, followed by the consumer durables index, which slumped by 445.98 points and the healthcare index that fell by 331.91 points. 
 
The major gainers on the Sensex were State Bank of India (SBI), up 2.47 per cent at Rs 245.10; Tata Consultancy Services, up 1.59 per cent at Rs 3,557.95; Coal India, up 1.26 per cent at Rs 269.75; ICICI Bank, up 1.1 per cent at Rs 289.65; and ONGC, up 0.43 per cent at Rs 185.85 per share.
 
The top losers were Sun Pharma, down 4.50 per cent at Rs 443.80; Dr. Reddy's Lab, down 4.23 per cent at Rs 1,894.35; Yes Bank, down 3.27 per cent at Rs 334.15; Tata Motors, down 2.85 per cent at Rs 296.55; and Tata Motors (DVR), down 2.69 per cent at Rs 175.45 per share.
 
IANS
 
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IPL play-offs: Chennai, Hyderabad look to seal final berth

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As the 11th season of the Indian Premier League (IPL) nears its climax, all eyes will be on the top two sides -- Sunrisers Hyderabad (SRH) and Chennai Super Kings (CSK) -- locking horns in the first qualifier on Tuesday at the Wankhede Stadium here for a place in the May 27 final.
 
Both Chennai and Hyderabad finished the league stage on 18 points, but the Kane Williamson-led side got their neck ahead to the No.1 spot with a superior net run-rate and Tuesday's winner will be guaranteed a place in the final at the same venue while the loser gets a second chance in the second qualifier in Kolkata on May 25.
 
Going in to the match, the Mahendra Singh Dhoni-led CSK hold a slight edge as they have got the better of their southern rivals twice in the league stage this season.
 
The yellow brigade have been on a roll since making their comeback to the IPL fold after serving a two-year-ban, and have rarely lost the momentum this season with the old guards and new sensations firing in unison.
 
In their final league game at their adopted home ground in Pune on Sunday, CSK rode on Suresh Raina's gutsy half century to not only romp home by five wickets but also stop Kings XI Punjab from entering the play-offs.
 
On the other hand, the Sunrisers have been on a three-game losing run, having already sealed their play-off spot with a victory on May 10 against Delhi Daredevils.
 
Interestingly, it was the CSK who halted Sunrisers' six-game winning streak with a comprehensive eight-wicket drubbing on May 13 in Pune.
 
Much of the credit for the Orange Army's entry into the playoffs goes to the consistency of skipper Kane Williamson, who sits second in the leading run-getters' list with 661 runs and the bowling unit led by paceman Bhuvneshwar Kumar and Afghan spinner Rashid Khan.
 
Besides Williamson, Shikhar Dhawan (437 runs) has lately come good with the bat but it is the middle order comprising Manish Pandey, Wriddhiman Saha, Yusuf Pathan and Shakib Al Hasan, who needs to share the responsibility of building on the platform set up by the top order.
 
Sunrisers' bowling this season has been extraordinary with Rashid and Shakib as well as the pace trio of Bhuvneshwar, Siddarth Kaul and Sandeep Sharma combining well to defend paltry totals.
 
On Tuesday, Sunrisers will once again hope that their bowling will do the trick against an in-form Chennai top order comprising the likes of Ambati Rayudu, who has been their standout performer with 586 runs and had in fact taken the game away with a scintillating hundred when the two teams last met. 
 
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Rayudu's opening partner Shane Watson has also been in top form, accumulating 438 runs from 13 matches, while Suresh Raina, skipper Dhoni and all-rounder Deepak Chahar have been the backbone of CSK's middle order.
 
In the bowling front, the two-time champions will bank on young South African Lungi Ngidi, who grabbed 4 for 10 to take the man of the match award on Sunday.
 
With Shardul Thakur, Chahar and Dwayne Bravo doing their bit on the pace bowling front, CSK will hope for veteran Harbhajan Singh leading the spin attack with left-armer Ravindra Jadeja in the middle overs.
 
The match timings for the play-offs have been advanced by one hour, which means the match will start at 7 p.m. Ahead of the clash, a women's exhibition game will take place at 2 p.m. with top Indian and foreign players taking part in the contest at the Wankhede.
 
Teams: 
 
Chennai Super Kings: Mahendra Singh Dhoni (Captain & WK), Suresh Raina, Ravindra Jadeja, Faf Du Plessis, Harbhajan Singh, Dwayne Bravo, Shane Watson, Ambati Rayadu, Deepak Chahar, K.M. Asif, Kanish Seth, Lungi Ngidi, Dhruv Shorey, Murali Vijay, Sam Billings, Mark Wood, Kshtiz Sharma, Monu Kumar, Chaitanya Bishnoi, Imran Tahir, Karn Sharma, Shardul Thakur, N agadeesan, David Willy.
 
Sunrisers Hyderabad: Kane Williamson (Captain), Shikhar Dhawan, Manish Pandey, Bhuvneshwar Kumar, Wriddhiman Saha (WK), Siddharth Kaul, Deepak Hooda, Khaleel Ahmed, Sandeep Sharma, Yusuf Pathan, Shreevats Goswami (WK), Ricky Bhui, Basil Thampi, T Natarajan, Sachin Baby, Bipul Sharma, Mehdi Hasan, Tanmay Agarwal, Alex Hales, Carlos Brathwaite, Rashid Khan, Shakib Al Hasan, Mohammad Nabi and Chris Jordan.
 
IANS
 
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Ranbir Kapoor to host prelude to IPL finale

Ranbir Kapoor (Photo: IANS)
Ranbir Kapoor (Photo: IANS)
Bollywood star Ranbir Kapoor will host a two-hour prelude to the Indian Premier League (IPL) finale. Others joining the celebrations will include Salman Khan, Jacqueline Fernandes, Kareena Kapoor Khan and Sonam Kapoor Ahuja.
 
'Cricket Finals…Party Toh Banti hai' will be followed by the Vivo IPL 2018 grand finale on Star India Network on May 27, read a statement issued by the channel.
 
Fans have so far been enjoying commentary in six languages - Hindi, English, Tamil, Telegu, Bengali and Kannada.
 
In an attempt to reach out to more cricket enthusiasts across India, Star Pravah and Asianet Movies will carry Marathi and Malayalam broadcast respectively for the first time in IPL history. 
 
The Marathi language broadcast will have Madhuri Dixit-Nene and Swwapnil Joshi joining the celebrations.
 
The prelude will see a melange of performances and fun-filled interactions with celebrities. Additionally, actors Ravi Dubey, Gaurav Sareen, Aakriti Sharma and Deshna Dugad will amplify the entertainment quotient of the finale.
 
"The Dugout" on Star Sports Select will continue to cater to core cricket fans, giving a predictive and prescriptive analysis will be Dean Jones, Scott Styris, Anil Kumble, Kumar Sangakkara, Darren Sammy, Brett Lee and Mike Hesson.
 
IANS
 
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Key Indian equity indices open flat

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The key Indian equity indices on Monday opened on a flat note.
 
The 30-scrip Sensitive Index (Sensex), was trading 4.76 points or 0.01 per cent lower soon after opening.
 
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 3.65 points or 0.03 per cent higher at 10,600.05 points.
 
The Sensex of the BSE, which opened at 34,873.16 points, was trading at 34,843.54 points (at 9.16 a.m.), lower 4.76 points or 0.01 per cent from the previous day's close at 34,848.30 points.
 
The Sensex touched a high of 34,973.95 points and a low of 34,831.15 points in the trade so far.
 
IANS
 
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IPL: Delhi Daredevils knock out Mumbai India from play-offs

Delhi Daredevils (DD) rode a strong bowling display to notch up an 11-run victory and eliminate defending champions Mumbai Indians from the race for the Indian Premier League (IPL) play-offs at the Ferozshah Kotla here on Sunday.
 
Chasing a target of 175 runs in what was a must-win encounter for them, Mumbai were bundled out for 163 runs in 19.3 overs.
 
Mumbai thus completed the league phase with 12 points from their 14 matches. With Rajasthan Royals already on 14 points and Sunrisers Hyderabad, Chennai Super Kings and Kolkata Knight Riders already qualified, Mumbai saw their title defence come to an end.
 
But it was by no means an easy victory. Despite losing wickets at regular intervals, Mumbai kept up a healthy scoring rate and kept the packed stadium on the edge of their seats till the very end.
 
Leggie Amit Mishra was the most successful among the Delhi bowlers with figures of 3/19 in his four overs. Sandeep Lamichhane claimed 3/36 while Harshal Patel returned with figures of 3/28.
 
Mumbai suffered their first jolt in the opening over when Suryakumar Yadav (12) holed out to long-on off the bowling of Sandeep Lamichhane.
 
Yadav had smashed Lamichhane for a boundary and a six off the first two balls of the innings.
 
Mishra struck in the seventh over when Vijay Shankar pulled off an excellent catch at the long-on boundary of Ishan Kishan (5).
 
Mishra jolted again in his next over, getting rid of Mumbai opener Evin Lewis, who was just two runs short of his half-century.
 
Lewis was in good touch, scoring 48 runs off 31 balls with the help of three boundaries and four hits into the stands.
 
Lamichhane then got rid of Kieron Pollard (7) and Krunal Pandya (4) in the very next over to leave the visitors reeling at 78/5 in the 10th over.
 
Mumbai skipper Rohit Sharma (13) and Hardik Pandya added 34 runs between them before the former fell victim to a brilliant piece of fielding by Glen Maxwell.
 
It was Hardik who kept the score ticking at a healthy rate before falling while attempting yet another big heave off Mishra. The all-rounder scored 27 runs with two boundaries and a six studding his 17-ball stay in the middle.
 
Ben Cutting came up with some lower order heroics with 37 runs off 20 balls. But once he fell in the second ball of the final over, it was as good as over for the visitors.
 
Earlier, Delhi rode a half-century from Rishabh Pant and some death over heroics by Vijay Shankar to post 174/4 in their 20 overs.
 
Rishabh was the highest scorer for the hosts with 64 runs off 44 balls. His knock included four hits to the fence and an equal number of sixes.
 
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Vijay shored up the run rate late in the innings and remained unbeaten on 43 runs off 30 deliveries 
 
Delhi were off to a flying start with openers Prithvi Shaw (12) and Glenn Maxwell (22) punching Jasprit Bumrah and Krunal Pandya all around the ground.
 
The two of them added 30 runs in just three overs before Shaw virtually gifted away his wicket with his casual approach. The 18-year-old right-hander failed to reach his crease even as Hardik hit the stumps with a direct throw.
 
Bumrah got rid of Maxwell in the next over, uprooting the stumps with a delivery that came in sharply after pitching on the off-stump line.
 
The in-form Shreyas Iyer did not last long, pulling a Mayank Markande delivery straight to Krunal at deep mid-wicket.
 
Rishabh Pant and Vijay Shankar (43 off 30 balls) added 64 runs off 47 balls between them before the former fell while attempting to pump up the flagging run rate.
 
But Vijay went on to take the battle to the rival camp and take the hosts to a strong total.
 
Brief scores:
 
Delhi Daredevils: 174/4 in 20 overs (Rishabh Pant 64, Vijay Shankar 43 n.o.) beat Mumbai Indians: 163 in 19.3 overs (Evin Lewis 48; Sandeep Lamichhane 3/36, Harshal Patel 3/28, Amit Mishra 3/19) by 11 runs
 
IANS
 
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Delhi knock out Mumbai from IPL play-offs

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Delhi Daredevils ended Mumbai Indians chances of qualifying for the Indian Premier League (IPL) play-offs with an 11-run victory at the Ferozshah Kotla here on Sunday.
 
Chasing a target of 175 runs, Mumbai were all out for 163 in 19.3 overs.
 
Sandeep Lamichhane, Harshal Patel and Amit Mishra took three wickets each for Delhi.
 
Brief scores:
 
Delhi Daredevils: 174/4 in 20 overs (Rishabh Pant 64, Vijay Shankar 43 n.o.) vs Mumbai Indians: 163 in 19.3 overs (Evin Lewis 48; Sandeep Lamichhane 3/36, Harshal Patel 3/28, Amit Mishra 3/19)
 
 
 
 
 
 
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Good vs. evil fight in storytelling has caused harm: Sudhir Mishra

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Filmmaker Sudhir Mishra is unhappy with the portrayal of villains in films and says the good vs. evil fight has caused great harm.

"Bad films cause great harm when they portray villains only as foul-mouthed, sneering, lecherous types. Real villains are often sweet talking, humorous, family men who commit unspeakable acts of horror when threatened," Mishra tweeted on Saturday morning.

He added: "In fact, this whole good vs. evil fight bulls**t in storytelling has caused great harm. When people come out to find evil they don't see it because evil is sometimes behind their backs, in their own home, and sometimes in their own heads."

Mishra's latest release is "Daas Dev", is a romantic political thriller based on the political clout of Uttar Pradesh starring Rahul Bhat, Richa Chadha and Aditi Rao Hydari.

He has previously directed films like "Yeh Saali Zindagi", "Inkaar", "Chameli" and "Khoya Khoya Chand".

IANS

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Harish Manwani appointed independent director of Tata Sons

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Harish Manwani, former global chief operating officer for Unilever and the non-executive chairman of Hindustan Unilever Limited, has been appointed as an Independent Director of Tata Sons, the company has announced.
 
Mr. Manwani is also the global executive advisor to Blackstone Private Equity group.
 
Through his career, he held several senior management positions in Unilever which included heading businesses in North America, Latin America, Asia and Africa. Prior to his retirement, he was the chief operating officer with worldwide responsibility for all of Unilever's operating companies.
 
Mr Manwani also serves on the board of directors of Qualcomm Incorporated, Gilead Sciences Inc, Nielsen Holdings plc, Whirlpool Corporation, Economic Development Board (EDB) of Singapore and is the chairman of the executive board of the Indian School of Business. In 2008, he received the CNBC Asia Business Leader of the Year Award and in 2012, he was conferred the Public Service Medal by the Singapore Government.
 
Commenting on his appointment, N Chandrasekaran, Chairman of Tata Sons, said, “We welcome Harish to the board of directors. Harish brings substantial experience of managing and leading businesses on a global scale. His contribution and counsel will be of great value to Tata Sons in its governance as well as in its strategic development."
 
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Two fishermen killed in boat tragedy off Maharashtra

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Two fishermen were killed and two other injured on a boat 'Ekveera Prasanna' after an on board explosion on the vessel off Harnai Port in coastal Ratnagiri, an Indian Coast Guard spokesperson said here on Friday.
 
The explosion, reportedly due to an overheated radiator, occurred late in the night of May 15 and the two injured fishermen on the board the vessel were rescued by a fishing vessel Lakshya Vedi which was sailing nearby.
 
Another two fishermen were reported missing since then and the Indian Coast Guard launched a search and rescue mission to trace them for two days.
 
The ICG diverted its patrol ships, and deployed an interceptor boat from Murud-Janjira the following day besides launching a helicopter surveillance.
 
Around 11 a.m. on Thursday, the ICG helicopter sighted one body off the Harnai Port which was recovered by its ship in the vicinity. It was identified as one of the missing fishermen, Aarif, and has been handed over to his family.
 
The second was washed away more than 30 kms south and located near the Kolthare Beach on Thursday evening. It was found wedged between some rocks near the beach and an ICG ship retrieved it.
 
The body was identified as that of the second missing fisherman Hanif and handed over to the family.
 
IANS
 
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My daughter has been my life's greatest teacher: Lara Dutta

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Actress Lara Dutta, who has a daughter named Saira, says the six-year-old has been her life’s greatest teacher.

Lara was interacting with media along with her husband, professional tennis player Mahesh Bhupathi, at the launch of Pediasure's new flavour here on Thursday.

Asked how parenthood has changed her as a person and how prepared she was for it, Lara said: "I think no mother with their first child is really 100% prepared for parenthood until it happens to you. It is pretty much something that you learn on the go with each day.

"It doesn't matter if your child is one day old or whether she is 21 years of age. It is constantly evolving and each parent's experience is completely different, but it has been a wonderful ride. My daughter has been literally my life's greatest teacher and she has pushed all the limits as (far as) possible because she is at that age right now.

"She is pushing it how far it can go before mom erupts, but it is fun and wonderful. Mahesh has been a wonderful and hands-on dad."

Lara also spoke about how she ensures that her daughter consumes a healthy diet and avoids gorging on junk food.

The former Miss Universe said: "The minute you have kids, everybody becomes an encyclopaedia on your child. So everybody wants to advise you including your mother, mother-in-law, sisters and friends...and obviously, it was try and taste kind of pattern because your child is not going to do things like other kids do.

"So, for us from a very young age, especially from the time she started solids, she started with avocados and it helped her form a really good healthy relationship with vegetables. Today, I don't have a problem with Saira because she is a good eater and I think that is my greatest blessing as a mom.

"It's all about trying to find that balance where you don't deny a child treats but you just try to find smart ways of sneaking in some healthy things while you are giving them a treat."

Lara stressed the importance of optimum nutrition in a child's holistic growth.

"During summer, my daughter is filled with ideas to play new games, places to go and have lots of uninterrupted fun. I am sure all young ones look forward to the summer break the same way. While children are excited about holidays, parents often stress about how they can engage them effectively and ensure that they eat right.

"My daughter has very strong taste preferences, and I am on the lookout for food options that are not just healthy but also tasty and packed with nutrients."

Lara was last seen on-screen in Chakri Toleti's "Welcome To New York".

IANS

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Equities slump on Karnataka political crisis, high oil prices

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The uncertain political environment in Karnataka along with high global crude oil prices and consistent outflow of foreign funds pulled the key Indian equity indices deep in the red on Friday.
 
According to market observers, depreciation in the rupee eroded investor sentiment which was also impacted by broadly negative global markets.
 
Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) ended lower by 86.30 points or 0.81 per cent at 10,596.40 points from its previous close of 10,682.70 points.
 
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE declined to end in the negative territory. It had opened at 35,143.59 points, closed at 34,848.30 points -- down 300.82 points or 0.86 per cent -- from its previous session's close of 35,149.12 points.
 
In the intra-day trade, barometer S&P BSE Sensex touched a high of 35,163.11 and a low of 34,821.62 points. The BSE market breadth was bearish with 1,856 declines against 765 advances.
 
"Benchmark indices, Nifty and Sensex ended in red for the fourth consecutive session, following mixed sentiment in global stock markets," said Dhruv Desai, Chief Operating Officer, Tradebulls.
 
HDFC Securities' Head of Retail Research, Deepak Jasani said: "A combination of Brent crude oil prices hovering near the $80 per barrel mark, sustained selling from foreign funds and political uncertainty in Karnataka after the Supreme Court reportedly directed for floor test in Karnataka Assembly tomorrow (Saturday) affected the market sentiments."
 
"Broad market indices like the BSE mid-cap and small-cap indices lost more, thereby underperforming the main indices," Jasani told IANS.
 
Accordingly, the S&P BSE mid-cap declined by 1.47 per cent and the S&P BSE small-cap ended 1.62 per cent lower than its previous close.
 
On the currency front, the Indian rupee weakened by 30 paise against the US dollar to 68.01, from its previous close at 67.71 per greenback.
 
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 166.15 crore, while the domestic institutional investors bought stocks worth Rs 149.58 crore.
 
Sector-wise, the S&P BSE FMCG index was the only gainer, rising by 98.76 points.
 
On the other hand, the S&P BSE capital goods index fell the most, by 579.39 points, followed by auto index, which slumped by 452.36 points and the metal index that fell by 329.14 points. 
 
The major gainers on the Sensex were Hindustan Unilever, up 2.22 per cent at Rs 1,604.10; Kotak Mahindra Bank, up 1.99 per cent at Rs 1,294.25; IndusInd Bank, up 1.23 per cent at Rs 1,936.70; ITC, up 1.13 per cent at Rs 282.15; and Hero MotoCorp, up 0.31 per cent at Rs 3,565.50 per share.
 
The top losers were Larsen and Toubro, down 3.54 per cent at Rs 1,316.05; Sun Pharma, down 3.21 per cent at Rs 464.70; ICICI Bank, down 3.21 per cent at Rs 286.40; Tata Motors, down 3.14 per cent at Rs 305.25; and Tata Steel, down 3.04 per cent at Rs 591.50 per share.
 
IANS
 
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India's forex reserves dip by $ 1.237 billion to $ 417.702 billion

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Continuing a downward trend for the fourth consecutive week, India’s foreign exchange reserves dipped by $ 1.237 billion to $ 417.702 billion during the week ended May 11, the Reserve Bank of India (RBI) said here today.
 
India’s forex reserves had gone down by $ 1.426 billion to $ 418.94 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone down by $ 1.263 biillion to $ 392.453 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves increased by $ 26.2 million to $ 21.687 billion, while its special drawing rights (SDRs) decreased by $ 0.3 million to $ 1.515 billion.
 
India’s reserve position in the International Monetary Fund (IMF) went down by $ 0.3 million to $ 2.0457 billion, the bulletin added.
 
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Indian markets open in red on selling pressure

The key Indian equity indices opened in negative territory on Friday weighed down by heavy selling pressure in capital goods, banking and IT stocks.
 
At 9.24 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,649.20 points, down 33.50 points or 0.31 per cent from the previous close of 10,682.70 points.
 
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,143.59 points, traded at 35,033.85 points (9.24 a.m.) -- down 115.27 points or 0.33 per cent -- from its previous session's close of 35,149.12 points.
 
The Sensex has so far touched a high of 35163.11 and a low of 35,020.77points.
 
The BSE market breadth was tilted towards the bears with 639 declines and 619 advances so far.
 
IANS
 
 
 
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RBI modifies rules for setting up IFSC Banking Units

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The Reserve Bank of India (RBI) on Thursday modified some of its "terms and conditions" for setting up of IFSC (International Financial Services Centres) Banking Units (IBUs), said a notification from the central bank.
 
The modifications are based on the suggestions the RBI has received from the stakeholders.
 
"With a view to enabling IBUs to start their operations, the parent bank will be required to provide a minimum capital of $20 million or equivalent in any foreign currency to its IBU which should be maintained at all times," the RBI said in the notification.
 
"However, the minimum prescribed regulatory capital, including for the exposures of the IBU, shall be maintained on an on-going basis at the parent level, as per regulations in the home country, and the IBU shall submit a certificate to this effect obtained from the parent on a half-yearly basis to RBI.
 
"The parent bank will be required to provide a Letter of Comfort for extending financial assistance, as and when required, in the form of capital or liquidity support to IBU," the notification said.
 
In April 2015, the Reserve Bank had formulated a scheme for setting up of IBUs by banks at Gujarat International Finance Tec-City (GIFT) in Gandhinagar.
 
IANS
 
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Reliance sets up used PET bottle reverse vending machine in Mumbai

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Energy and petrochemicals major Reliance Industries Limited (RIL) has set up a used PET bottle reverse vending machine (RVM) at the Sahakari Bhandar store near Siddhivinayak Temple at Prabhadevi here.
 
The facility was inaugurated by Shiv Sena leader Aaditya Thackeray today, a press release from RIL said.
 
RIL, one of the largest recyclers of used PET bottles in India, has started this initiative to keep the city and country clean, restricting the PET bottles from going into the landfill, it said.
 
The release said the company had firmed up plans to install more such machines at 12 different Reliance Retail’s Reliance SMART and Sahakari Bhandar stores in Mumbai before World Environment Day on June 5.
 
To encourage people to bring empty PET bottles and put it into vending machines, these machines will be equipped to dispense discount coupons when a person puts in PET bottle for shredding.
 
RIL will collect the shredded PET bottles and send it to its PET recycling facilities at Barabanki, Uttar Pradesh and Hoshiarpur, Punjab, where the world’s greenest Recron GreenGold fibres are being manufactured.
 
Reliance Industries, the owner of brand R|Elan GreenGold, is one of the largest recyclers of PET bottles in India, recycling 2.2 billion PET bottles a year, the release said.
 
The R|Elan GreenGold fabric, made from recycled PET, substantially reduces the emission of greenhouse gases, and cuts down on water usage as well. The fabric is made from pre-dyed fibres that do not require much water. Whatever little water is required, 90% of it is recycled.   
 
"RIL is the only company in the world that has built a complete circle – right from creation of PET Resin for bottles, and collection of discarded bottles to converting them to Recron GreenGold eco-friendly polyester fibre, which in turn is converted to R|Elan GreenGold fabric for the manufacture of high-fashion apparels," the release added.
 
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Had a very unique relationship with Reema Lagoo: Rakesh Bedi

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Remembering the late actress Reema Lagoo, who was his co-star in the cult TV show "Shrimaan Shrimati" that aired on Doordarshan from 1994-1999, veteran actor Rakesh Bedi says he had a very "peculiar and unique" relationship with her.

Rakesh, who will be seen as Yashwant in a play titled "Wrong Number" presented by production house Felicity Theatre and directed by Raman Kumar on Sunday, reminisced the time he shared with Reema and his other late co-star Jatin Kanakia during the time of the hit TV show.

"'Shrimaan Shrimati' was a great show and definitely it was greater because I had co-actors like Jatin Kanakia, Reema Lagoo and Archana Puran Singh. With extreme grief, I say that we have lost Jatin long back (July 20, 1999) and Reema recently. I had a very peculiar and unique relationship with her," Rakesh told IANS in an email interaction.

Rakesh says he used to lovingly poke Reema all the time on the sets.

"I knew her for a long time and I used to trouble her a lot in a funny way. I used to make sure that she gets angry with me, I used to do things that she gets upset and shouts at me and after an hour she will find me, hug me and share a cup of tea together as soon as she becomes normal.

"I started irritating her again and this went on and on during the process of 'Shrimaan Shrimati'. So it wasn't a love-hate relationship but one filled with lots of love," said the 63-year-old actor.

On Jatin, Rakesh says that with him it was more of a professional relationship.

"Jatin was very junior to me so I didn't interact with him on a one to one basis. Professionally, we used to interact a lot but on a personal basis I didn't know him," he said.

On actress Archana Puran Singh, who essayed his wife in the show, Rakesh says she is a very close friend and they share a "fantastic relationship".

"She is a very good actor and a thorough professional".

From the time of "Shrimaan Shrimati" to appearing frequently on "Bhabhi Ji Ghar Par Hain !" in today's time, what are the difference that makes him wish it was still the era of the 90's?

"‘Shrimaan Shrimati' ran almost for four years and took the country by storm. In fact, the people who were seeing it still swear by it and I am very proud to be a part of it. Well, I will say things have changed and things should change now since time doesn't remain stagnant.

"Some of the shows from the past like 'Ye Jo Hai Zindagi', 'Shrimaan Shrimati' and 'Yes Boss' have stood the test of time and have remained in the hearts of the audiences till now," said the actor, who has worked across the film, television and theatre mediums till date.

Not wanting TV dynamics to remain the same, Rakesh stressed on the fact that "new storytelling must happen".

"New actors should come on board and new thoughts and vision, should contribute towards media and the creative work," he said.

Does he feel the face of theatre world is changing in India?

"Yes, definitely the face of theatre in India is changing now. For example my play 'Mera Woh Matlab Nahin Tha'... whenever we have staged the play, it has been a sellout. I must say theatre is been appreciated a lot in India now and given respect too."

The "Chashme Buddoor" actor says people want to see good plays and are willing to pay high ticket prices for the right kind of production.

"The recent example is 'Mughal-e-Azam' where the play was priced extremely heavily but still people went to see it because it was an extravaganza."

For a long time, Rakesh has been missing from the big screen, but he says he will be seen in few films in coming months.

IANS

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