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Shares of Coffee Day Enterprises down 20% as founder goes missing

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Coffee Day Enterprises hit the lower circuit on the BSE during the early trade on Tuesday following reports that V. G. Siddhartha, the company's founder, has gone missing.
 
Siddhartha reportedly went missing late on Monday. He was last seen on a bridge over a river in Mangaluru in Karnataka.
 
According to reports, a search operation is currently underway while Siddhartha's phone remains switched off.
 
IANS
 

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Vodafone Idea shares plummet, group shares hit too

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Vodafone Idea shares on Monday fell sharply after the Q1 results were announced, erasing over Rs 7,000 crore of its market cap in just a day.
 
The company's shares hit all-time low levels over the sudden revenue deterioration reported in its quarterly results, reflecting the stress in the Indian telecom sector. 
 
Selling was seen in other group companies, which saw a total decline of over Rs 17,000 crore. 
 
Grasim Industries slipped over 9 per cent and Aditya Birla Capital by over 4 per cent. Others like Aditya Birla Money, UltraTech Cement, and Hindalco Industries fell in the range of 1 to 3 per cent. 
 
The sell-off of Vodafone Idea shares came on the back of investor concerns on the stability of the company and saw its scrips fall as much as 29 per cent on the BSE before closing 27.03 per cent lower at Rs 6.75 apiece. 
 
JM Financial, in its investor note on Vodafone Idea, said that the company's key performance indicators (KPIs) show "eroding consumer mind-share and perception, driven primarily by its 4G coverage/capacity deficit relative to (Airtel) Bharti and Jio". 
 
Evaluating the results, the brokerage firm said that Vodafone Idea reported a "sudden revenue deterioration", which could have panicked the investors on Monday. 
 
Vodafone Idea had on Friday reported a loss of Rs 4,873.9 crore in the June quarter against the Rs 4,881.9 crore loss in the previous quarter. Its revenue fell to Rs 11,269.9 crore as against Rs 11,775 crore in the March quarter. 
 
The brokerage firm highlighted the sharp decline in Vodafone Idea's subscriber base, which dropped by 14 million (quarter-on-quarter). 
 
IANS
 

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Sensex ends 196 points lower, Nifty below 11,200

Led by heavy selling in metal and auto stocks, the Sensex and Nifty resumed their declining trend on Monday after a pause on Friday.
 
While investors are distancing themselves from metal companies on the bourses over growth concerns, the auto sector is going through one of the worst patches in recent times, owing to the lack in demand.
 
The Sensex closed 196.42 points lower at 37,686.37, reversing early gains. The benchmark index had opened above the 38,000 mark. The broader Nifty settled 95.10 points lower at 11,189.20.
 
"Increase in auto registration cost, lack of liquidity and confusion over issuance of the India sovereign bond impacted the market. Rate cut expectation is high as FM (Finance Minister) is looking for significant ease in interest rate to spur economic growth," Vinod Nair, Head of Research, Geojit Financial Services, said.
 
"The undercurrent is not very supportive since insipid Q1 results are adding clouds over the near-term visibility," he added.
 
Besides, investors are cautious ahead of key results from companies like ITC, Bharti Airtel, Hero MotoCorp and Axis Bank.
 
On Monday, Foreign Portfolio Investors (FPIs) sold Rs 704.42 crore worth of scrips, taking the net outflow to a staggering Rs 14,728.47 crore in the month of July.
 
"Continued nervous unloading from FPIs and local non-institutional investors have led to a situation of continued erosion in values, either based on results or even otherwise," Deepak Jasani of HDFC Securities said.
 
IANS
 

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It's disrespectful, there is nothing between me and Rohit: Kohli

Virat Kohli (File photo: IANS)
Virat Kohli (File photo: IANS)
India skipper Virat Kohli today quashed rumours of a rift in the team, saying he is baffled by talk of things not going well between him and vice-captain Rohit Sharma.
 
"In my opinion, it's baffling. To be honest, it's absolutely ridiculous to read such stuff that comes out. I have been to a few public events and the sentiment is 'aap log kya khele' (you guys played so well)," he said, while addressing a media conference here ahead of the West Indies tour.
 
"We are feeding off lies. We are overlooking facts. We are turning a blind eye to all the good things that have happened. We are creating fantasies and scenarios in our head and want to accept that this is the truth," Kohli said.
 
"I have seen this for too long now. Bringing personal lives into the picture. It's disrespectful after a moment. There is nothing between me and Rohit," he said.
 
It all started when news was leaked in the media that a senior player had got his wife to stay with him for longer than the 'family clause' of the BCCI allows and that too without the permission of the captain and coach. 
 
This after former Chief Justice of India R. M. Lodha and senior BCCI officials questioned the decision of the Committee of Administrators (COA) to let the captain and coach decide on the travel plans of WAGs.
 
In a bizarre move, a Committee of Administrators (CoA) member had told IANS that the committee wouldn't react to rumours of rift till the players approached them.
 
"The CoA cannot be reacting to reports in the media. If the players have any issue, they can/should bring it up with us. As far as the committee is concerned, there is no rift till the players talk of it with us," the member had said.
 
The trouble apparently started brewing post the loss to England in the World Cup. The bowling unit supposedly felt humiliated post a team meeting after the defeat in the group-stage encounter.
 
"The bowlers were given a showdown after the loss and they felt that it wasn't just a case of bad bowling and there were more areas that needed to be looked into before pointing fingers at the bowling unit," a source in the know of developments had told IANS.
 
Another board functionary said that the reports of rift need to be addressed at the earliest to avoid a scenario wherein the performance of the team can start getting affected.
 
"It is like any other discord at a workplace which can affect the performance of the team. If this is not nipped in the bud immediately, there is a real danger of things affecting the spirit of the team and, as a result, their performance.
 
"You cannot have two leaders of a team or their media teams taking pot-shots at one another. There is no denial of a rift and the big shot administrator says that it is a media creation. If that is the case why are they giving impetus to the media creation rather than dispelling it," the functionary had said.
 
IANS
 

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SBI reduces interest rate on deposits across all maturities

State Bank of India building (Photo: IANS)
State Bank of India building (Photo: IANS)
State Bank of India (SBI), the country's largest lender,  today reduced its interest rates on all retail term deposits (less than Rs. 2 crore) and bulk term deposits (Rs. 2 crore and above) with effect from August 1, 2019.
 
A press release from the bank said this had been done in view of the falling interest rate scenario and surplus liquidity.
 
"For time deposits with longer tenors, there is a reduction upto 20 bps (basis points0 in the Retail segment and 35 bps in the Bulk segment. Interest rates have been slashed by 50-75 bps for time deposits with shorter tenors, i.e. upto 179 days. Full details are available on the Bank’s web site," the release added.
 
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Sensex slightly in red ahead of major results

The Indian equity market traded in the red during the early trade on Monday ahead of key corporate earning results of ITC, Bharti Airtel, Hero MotoCorp and Axis Bank.
 
The performance of the sector heavy-weights will also be a cue for the investors to judge the intensity of the ongoing showdown in the economy.
 
At 9.54 a.m., the Sensex was trading 54.06 points lower at 37,828.73. It opened higher at 38,043.22 from its Friday's close of 37,882.79.
 
The broader Nifty traded 39.50 points lower at 11,244.80.
 
"Post the budget announcement, market participants looked completely dejected and it's clearly reflected in the price action thereafter," Sameet Chavan of Angel Broking said.
 
In his outlook for this week, Chavan said: "We expect stock specific action to continue and should ideally be avoiding aggressive positions. We reiterate that the ongoing decline is providing excellent opportunity to grab some of the marquee names that had seen gravity defying moves since a year and are finally undergoing some price correction."
 
IANS
 

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Woman who had labour pains in stalled train safe

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A nine-month pregnant woman who suddenly went into labour pains in the stranded Mahalaxmi Express train, stuck in floodwaters at Vangani outside Mumbai for nearly 18 hours, was rescued safely on Saturday, officials said.
 
Earlier on Saturday, her panicky relatives sent out urgent appeals from the D1 bogey seeking help to rush her to a hospital to avoid complications.
 
The woman, identified as Reshma T. Kamble, was proceeding from Mumbai to Kolhapur for delivery but the train was stranded in Thane flood waters since late Friday evening.
 
Later, it transpired that there were another nine women on board in different stages of pregnancy who were in distress and awaited food and medical help for hours, giving anxious moments to their relatives.
 
"Fortunately, all the pregnant women were evacuated on priority by the rescue teams, given preliminary medical help or kept under observation. All have been safely discharged now and there were no medical complications for any of the women," Central Railways' Chief Spokesperson Sunil Udasi told IANS.
 
The Indian Army, Indian Air Force, Indian Navy and the National Disaster Response Force had launched one of the biggest operations in the state since the great floods of July 26, 2005, to rescue an estimated 1,200 passengers stranded on the train with around 3-5 feet water on all sides.
 
Later this afternoon, the operation concluded successfully with all the passengers being taken to safer havens at Badlapur or Kalyan, without a single injury to anyone, said Udasi.
 
IANS

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More than 1,000 passengers rescued from stranded train, Mumbai region flooded

More than 1,000 passengers, including nine pregnant women, on the Mahalaxmi Express which was stranded for nearly 18 hours in heavy flood waters, around 90 km from Mumbai, were rescued in a massive, multi-agency operations by Saturday afternoon, officials said.
The Kolhapur-Mumbai Mahalaxmi Express, with about 1500 people on board, stranded in 4-5 feet flood waters near Vangani station, Thane, since Friday night after heavy rains lashed Mumbai and surrounding areas. (Photo: IANS)
The Kolhapur-Mumbai Mahalaxmi Express, with about 1500 people on board, stranded in 4-5 feet flood waters near Vangani station, Thane, since Friday night after heavy rains lashed Mumbai and surrounding areas. (Photo: IANS)
More than 1,000 passengers, including nine pregnant women, on the Mahalaxmi Express which was stranded for nearly 18 hours in heavy flood waters, around 90 km from Mumbai, were rescued in a massive, multi-agency operations by Saturday afternoon, officials said.
 
Central Railway Chief spokesperson Sunil Udasi said 1,050 passengers were safely evacuated without injuries from the train, which was stuck near Vangani, while the State Disaster Authority pegged the figure at 1,200, in what became the biggest joint operation in the state by the Indian Air Force, Army, Navy, the NDRF, state police, the Railway Police, local agencies, NGOs and volunteers since the July 26, 2005 floods.
 
Four National Disaster Response Force (NDRF) teams from different cities like Mumbai, Thane and Pune rushed to the train and evacuating the train passengers using eight inflatable rubber boats.
 
Besides, seven Indian Navy teams of divers with specialised equipment, a Seaking and MI-17 helicopters of the IAF, and two columns of Indian Army from Mumbai already in Thane and two more en route, were also deployed for the massive operations. Union Minister of State for Home Nityanand Rai called up Chief Minister Devendra Fadnavis and offered all help from the Centre.
 
The rescue operation picked up pace post-noon when rain subsided a little, enabling quicker movement of personnel and the evacuated passengers carrying their luggage and minor children to safer spots.
 
Many weary passengers attempted to walk, but when they, especially the senior citizens, lost strength, police and other rescuers promptly hoisted them on their shoulders and took them to safety.
 
A few local villagers, many of whom were also stranded in the flood waters, also ventured out to help the train passengers early in the day before the official rescue teams from Mumbai, Thane and Pune reached the venue.
 
The passengers were brought off the train into boats and taken to a small village around 1.5 km away where the villagers welcomed them with water, hot tea and biscuits and even carried their luggage and the kids.
 
From there the passengers boarded buses, vans and smaller vehicles to go to Badlapur, seven km away. A fleet of ambulances with three dozen doctors including gynaecologists were deployed there to tackle any emergency.
 
Nine-month pregnant Reshma T. Kamble, who went into labour, was shifted to the Shushrut Hospital in Badlapur where she is now under observation.
 
The Central Railway then ferried the rescued passengers by a local train to Kalyan where a 19-coach special train was kept ready to take them to Kolhapur, famed for its Goddess Mahalaxmi Temple. A railway official also said that the authorities were also ready to take those passengers who so wanted back home to various destinations in Mumbai.
 
A group of senior citizens, who were proceeding on a pilgrimage to Kolhapur, decided to cancel their plans and return to Mumbai.
 
"We are very thankful to all the rescue agencies and the villagers who took great pains to help and rescue us. Now, we are very tired by this ordeal and will complete our pilgrimage later," one of them told media persons.
 
Fadnavis had instructed Chief Secretary Ajoy Mehta to personally monitor the evacuation operations and coordinate with various agencies engaged in the rescue works.
 
The Chief Minister also said that the district administration had made arrangement for meals, tea and fresh water at the Sahyadri Mangal Karyalaya and other locations in villages on the route between the stranded train and Badlapur.
 
Passengers stranded in the Mahalaxmi Express on the flooded railway tracks at Vangani being rescued, in Maharashtra's Thane on July 27, 2019. (Photo: IANS)
Passengers stranded in the Mahalaxmi Express on the flooded railway tracks at Vangani being rescued, in Maharashtra's Thane on July 27, 2019. (Photo: IANS)
Meanwhile, the CR also said that it would also decide later how to shift the train and clear the tracks for restoring the train traffic on that route, as water considerably receded by evening and the adjacent railway track was visible.
 
In Thane, around 550 people stranded in the towns of Kalyan, Dombivali, Badlapur and Titwal were also saved from the flood waters by the rescue teams till this evening.
 
Thane Guardian Minister Eknath Shinde took a boat and went on an inspection tour of the affected areas in Vangani and its surroundings.
 
Rain continued to lash the coastal districts and many towns were practically underwater since early on Saturday as flooding local rivers and other water bodies overflowed into residential areas.
 
The busy Mumbai-Goa Highway was blocked this afternoon after a landslide near Khed. There are no immediate reports of any casualties.
 
Mumbai Airport operations suffered with cancellation of 11 flights and nine diversions early on Saturday, but the situation returned to normal by 9 a.m., official sources said.
 
While Mumbai's lifeline, the suburban trains functioned with delays of 15-20 minutes on Western Railway and CR, the latter had to cancel services between Karjat-Kalyan (in Thane) owing to floods and waterlogging on the tracks since Friday.
 
Though the country's commercial capital continued to get intermittent showers, the worst-hit were Thane and Ratnagiri with towns of Ulhasnagar, Murbad, Badlapur, Tiwala, Vangani, Khed, Mangaon, Mandangad, Chiplun and surroundings practically submerged.
 
Heavy rain lashed Palghar, Pune and Nashik on Saturday, with the IMD forecasting similar weather for the next couple of days in the entire coastal region including Mumbai.
 
IANS
 

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Mumbai rain stalls train for 15 hrs: IAF choppers, NDRF boats to rescue

Two IAF helicopters and six boats of the NDRF have left for Vangani on Saturday to rescue around 1,500 passengers stranded in the Mahalaxmi Express train as a torrential downpour continued in Mumbai and surroundings for the third consecutive day, officials said.
The Kolhapur-Mumbai Mahalaxmi Express, with about 1500 people on board, stranded in 4-5 feet flood waters near Vangani station, Thane, since Friday night after heavy rains lashed Mumbai and surrounding areas. (Photo: IANS)
The Kolhapur-Mumbai Mahalaxmi Express, with about 1500 people on board, stranded in 4-5 feet flood waters near Vangani station, Thane, since Friday night after heavy rains lashed Mumbai and surrounding areas. (Photo: IANS)
Two Indian Air Force (IAF) helicopters and six boats of the National Disaster Response Force (NDRF) have left for Vangani on Saturday to rescue around 1,500 passengers stranded in the Mahalaxmi Express train as a torrential downpour continued in Mumbai and surroundings for the third consecutive day, officials said.
 
Hundreds of panicky, starving and thirsty passengers on the Mumbai-Kolhapur train were seen making appeals for help on mobile videos and social media.
 
They said they had no drinking water or food since nearly 15 hours and no escape route as the train was practically cut off with five-six feet water on all sides.
 
Guardian Minister for Thane Eknath Gaikwad said two helicopters will help the rescue operation along with six teams of the NDRF on the ground from Mumbai, Thane and Pune which are rushing there with inflatable rubber boats shortly.
 
The towns of Badlapur, Ulhasnagar, Vangani were practically underwater since early Saturday as heavy rain lashed the region, flooding local rivers and other water bodies.
 
The Central Railway (CR) earlier in the day warned the Mahalaxmi Express passengers against stepping out of the trains in view of the dangerous water levels outside and requested them to wait for help which is on the way.
 
The CR added that a relief train has been stationed at Badlapur to ferry the passengers, along with food, water and medical supplies, besides making arrangements to take the passengers onward to Kolhapur.
 
Though the suburban trains in Mumbai functioned with delays of 15-20 minutes on Western Railway and CR, the latter had to cancel services between Karjat-Kalyan (in Thane) owing to floods and waterlogging on the tracks since Friday.
 
In Mumbai, Minister of Education Ashish Shelar authorized school and college principals to declare a holiday to ensure students are not inconvenienced if heavy rain continued.
 
IANS

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India’s forex reserves soar by $ 1.578 billion to new high of $ 430.376 billion

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India’s foreign exchange reserves soared by $ 1.578 billion to a new record high of $ 430.376 billion during the week ended July 19, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had fallen by $ 1.113 billion to $ 428.797 billion during the previous week.
 
In  the week before that, the reserves had risen by $ 2.232 billion to touch the previous record high of $ 429.911 billion.
 
In its weekly statistical supplement issued here, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone up by $ 1.393 billion to $ 401.091 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 remained unchanged at $ 24.304 billion, while its special drawing rights (SDR) decreased by $ 3.3 million to $ 1.447 billion.
 
India’s reserve position in the International Monetary Fund (IMF) rose by $ 188.6 million to $ 3.533 billion, the bulletin added.
 
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Sensex ends in green after 6 days of decline

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The Sensex and the Nifty on Friday snapped out of their six-day-long losing streak to offer some respite on the last day of the week.
 
Sensex closed 51 points higher at 37,882.79 from its Thursday's close of 37,830.98, while the broader Nifty settled 32.15 points higher at 11,284.30.
 
The gains could have been higher but for the IT companies. The Nifty IT index was the only sectoral index closing in the red. NIIT Technologies Limited, Tata Elxsi Limited and Tech Mahindra Limited contributed most to its fall.
 
"The investor sentiment dampened after disappointing quarterly corporate results, the IMF lowering India's growth outlook, and no rollback of surcharge for foreign portfolio investments (FPIs) registered as trusts or association of persons (AoPs)," said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
 
"The FPIs sold equities worth US$1.2 billion over the past five trading sessions while domestic institutional investors (DIIs) invested US$1.1 billion," Zarbade added.
 
Vedanta was the top loser among the Nifty50 stocks. It closed 4.29 per cent lower ahead of its quarterly results.
 
Yes Bank on Friday advanced as much as 10.55 per cent on the BSE, before settling 9.64 per cent higher at Rs 96.10 apiece over reports of capital infusion by certain institutional investors.
 
The country's largest commercial vehicle (CV) maker Tata Motors' shares closed nearly 2 per cent higher at Rs 147.20 apiece despite reporting double the losses in the June quarter than what it incurred in the same quarter last year.
 
However, it did succumb to heavy selling pressure on Thursday, ahead of its result announcement.
 
IANS
 

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Sensex, Nifty open flat on Friday morning

The Sensex and the Nifty opened on a flat note on Friday. Selling pressure was seen in sectors like metal, media and IT scrips during the early trade.
 
At 9.16 a.m., the Sensex traded 26.32 points lower at 37,804.66 from its Thursday's close of 37,830.98. The broader Nifty was down 6.65 points at 11,245.50.
 
Selling was seen in media stocks, most of which have seen their 52-week lows in the past few days.
 
Network 18 touched its 52-week low of Rs 21.25 on Thursday. HT Media that runs Hindustan Times, hit its 52-week low of Rs 22.25 apiece on Monday.
 
Zee Media was trading near its 52-week low which it hit last month. TV Today Network had fallen to its lowest level in 52-weeks at Rs 237.20 apiece, not more than a week earlier.
 
This apart, auto major Tata Motors after weak corporate results declared on Thursday was trading 0.62 per cent lower during the early trade.
 
IANS
 

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Sensex ends lower for the 6th day; auto, steel scrips lose

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Looking like the last day of the losing streak for the markets, Thursday's trading session, however, proved no different than the developments over the past five days.
 
Markets closed in the red for the sixth day in a row troubled by a series of defaults by DHFL and Cox and Kings and uninspiring quarterly results.
 
Besides, investors have already been under pressure owing to the slowdown concerns, very visible in the performance of steel companies, while the exodus of foreign funds seems to be nearing the sell-off in October last year.
 
The Sensex closed 16.67 points lower at 37,830.98 from its Wednesday's close of 37,847.65, while the Nifty fell by 19.15 points to 11,252.15.
 
Tata Motors saw its worst day on the bourses in nearly a year, ahead of its June quarter corporate results. The previous 2-3 quarters have been tough for auto companies who have been feeling the pinch of the consumption slowdown.
 
"We had a flat opening today owing to mixed global cues. However, during the first half an hour of the trade, we saw a strong bout of buying to push the index near yesterday's high of 11359.75," said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
 
"In fact, in this process, Nifty managed to surpass it by a small margin and then similar to recent trend, this lead got sold into. Thereafter, the index struggled throughout the remaining part of the day to eventually conclude the July series at a two month low," Chavan added.
 
IANS
 

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Mumbai NCP chief Sachin Ahir to join Shiv Sena

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In a jolt to the opposition Nationalist Congress Party (NCP), its Mumbai president Sachin Ahir on Thursday was all set to join the ruling Shiv Sena, a party source said here.
 
Indirectly confirming the move, Ahir told the media today that "in politics, tough decisions have to be taken and he was full of pain" over his plans, barely two months ahead of the state Assembly elections.
 
However, the 47-year-old Worli legislator said he was happy to get an opportunity to help fulfil the dreams of Sena President Uddhav Thackeray.
 
A former minister, Ahir's entry to the Sena will be announced by Thackeray at a press conference shortly amidst speculation that several other NCP bigwigs are also planning to quit.
 
IANS
 

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Sensex reclaims 38,000-mark, Nifty above 11,300

The Sensex and Nifty opened higher and traded on a firm note during the early trade on Thursday.
 
At 10.10 a.m., the Sensex traded 255.21 points higher at 38,102.86 from its previous close of 37,847.65.
 
It opened higher at 37,935.02. The broader Nifty was also up 67.75 points or 0.60 per cent at 11,339.05.
 
Tata Motors and Bank of Baroda are scheduled to announce their June quarter results later in the day.
 
IANS
 

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Premier trains between Mumbai, Pune cancelled for 2 weeks

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Important trains linking Mumbai and Pune including the Deccan Express and Pragati Express will be cancelled for a fortnight from July 26 to August 9 to enable the Central Railway address the problem of falling boulders in the treacherous Lonavala-Khandala ghats sections, an official said here on Wednesday.
 
The CR will take up a massive restoration work to ensure the problem of toppling boulders and minor landslides, which becomes widespread during heavy rain, is resolved.
 
"The services get badly disrupted due to this problem mainly in the South-East Ghats from mid-June, affecting mobility and safety of the trains negotiating this section. The CR's Mumbai Division has undertaken various infrastructure works to prevent this," said the CR official.
 
Over the next fortnight, several trains will be cancelled, short-terminated or diverted, which is likely to hit the passengers on these and other sectors.
 
There were at least half a dozen incidents of falling boulders and minor landslides on the Mumbai-Pune sector in the past few weeks since the onset of monsoon.
 
Though any major disaster was averted to passing trains below, the incidents nevertheless resulted in huge delays till the route was cleared and declared safe for train movement.
 
This crucial high traffic route serves Mumbai-Pune daily commuters, besides students, people working in the IT sector in both cities and tourists.
 
Among the major trains to be cancelled are the Deccan Express, Pragati Express, CSMT Mumbai-Gadag Express and Pune-Panvel passenger train.
 
As many as 10 trains including the Kolhapur-Mumbai Koyna Express, Mumbai-Kolhapur Sahyadri Express will be operated only upto Pune, and will be cancelled between Chhatrapati Shivaji Maharashtra Terminus-Pune sector.
 
The Hubbali-Lokmanya Tilak Terminus Express (Mumbai) will be run only up to Pune and return journey will commence from Pune to Hubbali.
 
The Hazur Sahib Nanded-Panvel Express shall be run till Pune and remain cancelled between Pune-Panvel and the return journey will commence from Pune.
 
In view of this, the passenger load is expected to shift to the Mumbai-Pune Expressway and the Mumbai-Pune Highway which also witness traffic snarls, landslides, rolling boulders and occasion flooding in some sections.
 
IANS
 

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Sensex falls 135 points, metal companies lose

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Metal companies fell out of favour on Wednesday over growth concerns after the International Monetary Fund further revised down India's GDP growth rate.
 
Besides, investors are already in a fix over the exodus of foreign funds which has already crossed Rs 11,000 crore in the month of July till date.
 
The Sensex closed 135.09 points or 0.36 per cent lower at 37,847.65 from its Monday's close of 37,982.74 while the broader Nifty closed 59.75 points or 0.53 per cent to 11,271.30.
 
"Investors turned sellers on concerns that the economy is moving through a slowdown phase. IMF lowered GDP growth forecast by 30 bps for 2019 based on weak domestic demand outlook which fuelled a sell-off in a market where sentiment is already hurt due to tax concerns," said Vinod Nair, Head of Research, Geojit Financial Services.
 
Nair added that the mixed Q1FY20 results, outflow of foreign funds and weakening rupee will weigh on investor sentiments going ahead.
 
IANS
 

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Monsoon revives with full force in Mumbai

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After a week's lull, the monsoon revived with full force in Mumbai, coastal Konkan and other parts of Maharashtra, disrupting normal life, here on Wednesday.
 
Heavy rain continued to lash Mumbai since 1 a.m. and the city woke up to water-logging in many low-lying areas, flooded railway tracks and huge traffic snarls.
 
Office-goers and students alike were hit due to crawling traffic, while suburban trains were running late by 15-25 minutes on the Western Railway and Central Railway.
 
Important roads in some parts of the city and suburbs like Parel, Dadar, Wadala, Kurla, Sion, Tilak Nagar, Andheri, Santa Cruz, Khar, Goregaon, Malad and other pockets were flooded, seriously hampering traffic flow and pedestrian movement, leading to traffic diversions.
 
According to the BrihanMumbai Municipal Corporation Disaster Control, since midnight till 7 a.m. today, the city recorded 171.0 mm rain and suburbs notched 58.2 mm rain.
 
The IMD here has forecast bouts of heavy rain with intermittent showers for Mumbai, Palghar, Thane, Raigad and Ratnagiri in the next two days.
 
IANS

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Indian equity markets open on positive note

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The 30-scrip BSE Sensitive Index (Sensex) opened on a positive note on Wednesday.
 
The Sensex of the BSE opened at 37,990.25 points and touched a high of 38,102.94 points, and a low of 37,939.77 points.
 
The Sensex is trading at 38,071.11 points up by 88.37 points or 0.23 per cent from its Tuesday's close at 37,982.74 points.
 
On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 11,322.45 points after closing at 11,331.05 points.
 
The Nifty is trading at 11,348.75 points in the morning.
 
IANS

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Mumbai: Three woman doctors charged in medico suicide case

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Two months after the alleged suicide of government hospital doctor Payal Tadvi, the Mumbai Police on Tuesday filed a voluminous charge sheet in the case, naming three senior doctors for alleged harassment, casteist discrimination and abetment to suicide.
 
"The charge-sheet has been submitted to the Special Court today (Tuesday). Now, the matter will come up for hearing before Justice D. S. Naidu at the Bombay High Court on Thursday," lawyer for Tadvi's family, Gunratna Sadavarte, told IANS.
 
The charge sheet, running into three volumes with over 1,600 pages, has named the three prime accused medicos -- Ankita Khandelwal, Bhakti Mehare and Hema Ahuja -- the seniors of Tadvi, who are in continuous custody since then.
 
Earlier this month, the case took a significant turn after a purported suicide note was recovered from Tadvi's mobile phone following a forensic investigation.
 
Though the whereabouts of its original hard copy are not known, an image of the suicide note found on the mobile phone is included with the charge sheet.
 
Late in the evening of May 22, Tadvi, 26, was found hanging in her hostel room at the B. Y. L. Nair General Hospital in south Mumbai, sparking off a huge controversy.
 
While her family alleged that the three senior medicos were responsible for her death by harassing her on grounds of her minority tribal background, the accused have consistently denied the charges, claiming they had merely pulled her up for inefficiency in work.
 
Though the Agripada police initially registered an accidental death, following a complaint by the deceased's mother, Abeda Tadvi, an FIR was lodged and investigations launched.
 
The three accused women medicos -- Ahuja, Mehare and Khandelwal -- were absconding since the FIR was registered, but were arrested from different parts of the city on May 28-29.
 
According to the prosecution, the purported suicide note has clearly mentioned the names of the accused trio and at least two instances which drove Tadvi to the extreme step of ending her life.
 
Additionally, the charge sheet includes the statements of more than 150 witnesses including Tadvi's friends, colleagues, some medicos, hospital staffers and patients who had witnessed the three seniors doctors yelling at her.
 
The accused have been charged under Indian Penal Code sections pertaining to abetment of suicide and destruction of evidence, provisions of the Scheduled Castes & Scheduled Tribes (Prevention of Atrocities) and Maharashtra Prohibition of Ragging Act.
 
IANS

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Sensex below 38,000 for first time since Budget

The BSE Sensex on Tuesday slipped below the 38,000 mark for the first time since the Budget was presented on July 5.
 
Prior to the Budget day, Sensex had surpassed the 40,000 mark, touching a life-time high, but Tuesday's session saw the benchmark Indian equity index closing even below the 38,000 mark.
 
The Sensex settled 48.39 points lower at 37,982.74 while the broader Nifty closed 15.15 points down at 11,331.05.
 
"Participants are wary of more turmoil in the financial space and auto space taking longer to recover in the background of slowdown in demand and regulatory changes. Hence on a day when all the other markets are in the green, Indian markets ended in the red, though marginally," said Deepak Jasani of HDFC Securities.
 
IANS

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Sensex in red amid heavy fund outflow

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The Sensex traded slightly lower amid heavy outflow of foreign funds on Tuesday and caution ahead of key quarterly results.
 
Monday saw the Foreign Institutional Investors (FIIs) selling nearly Rs 2,000 crore worth of stocks, the highest single day selling this month.
 
On Tuesday later, FMGC major Hindustan Unilever, Larsen & Toubro, Zee Entertainment are scheduled to announce their corporate earnings.
 
At 9.48 a.m.,the Sensex fell 20.60 points lower at 38,010.53 from its Monday's close of 38,031.13.
 
The Nifty traded 7.30 points lower at 11,338.90
 
Globally, Deepak Jasani of HDFC Securities said that expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks on Tuesday.
 
Asian stocks, Jasani added opened modestly higher as investors braced for a busy week of US corporate earnings and potential developments in trade negotiations.
 
IANS

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84 saved from burning MTNL building in Mumbai

The Mahanagar Telephone Nigam Limited (MTNL) building at Bandra in Mumbai, where a massive fire broke out on July 22, 2019.(Photo: IANS)
The Mahanagar Telephone Nigam Limited (MTNL) building at Bandra in Mumbai, where a massive fire broke out on July 22, 2019.(Photo: IANS)
Mounting one of the biggest rescue operations in recent years, Mumbai firefighters saved a total of 84 persons trapped on the terrace and upper floors of the burning Mahanagar Telephone Nigam Ltd. exchange building at Bandra here on Monday evening.
 
Fireman Sagar D. Salve, 25, who was suffocated by smoke while fighting the blaze, was admitted to the Bhabha Hospital nearby and his condition is stable.
 
It was around 3.10 p.m., during the post-lunch period, that a massive blaze engulfed the third and fourth floors of the ground plus nine-storey building and quickly spread upwards, trapping many MTNL employees working on the upper floors.
 
Some MTNL staffers, who were out for lunch at that time, said they saw huge clouds of smoke billowing out of the building and immediately alerted their colleagues to move to safety.
 
As there was no escape route to go down, many of them did the next best thing by rushing towards the upper floors and terrace, which proved to be a life-saver for them.
 
Some of the trapped women wrapped their 'dupattas' around their faces to keep out smoke, while men used hand towels, as they frantically waved their hands and handkerchiefs while screaming for help from the rescue teams below.
 
Braving strong winds, calm firemen, using sophisticated ladders, managed to reach the terrace and rescued those trapped there, including several women. Many of those trapped there seemed dazed but had not panicked.
 
For the first time in the country, the Mumbai Fire Brigade also deployed its sophisticated fire-fighter robot, costing around Rs 2 crore and unveiled last week, to battle the blaze in the MTNL Building.
 
The fire-fighting work continued till late evening but the cause of the blaze is not known, a BMC Disaster Control official said.
 
The MTNL telephone exchange is located on the busy S. V. Road and as many as 31 fire tenders were rushed to fight the conflagration.
 
Police cordoned off traffic on the road to enable rescue vehicles rush to the tragedy site, leading to massive traffic snarls on the north-bound sectors in the evening return peak hour.
 
School Education Minister Ashish Shelar as well as Mayor Vishwanath Mahadeshwar and other top civic and police officials rushed to the spot to supervise the rescue operations.
 
This is the second major fire to shock Mumbaikars in the past 24 hours.
 
On Sunday, a fire raged through the third floor of Churchill Chambers in Colaba, claimed one person, while another 14 were rescued by firemen from the burning building.
 
Maharashtra Congress President Balasaheb Thorat criticized the government for sheer inaction which is claiming lives in building fires in the city almost daily.
 
IANS
 

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Kerala Left leader's son moves Bombay HC against FIR in rape case

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Kerala CPI-M leader Kodiyeri Balakrishnan's son Binoy Kodiyeri on Monday moved the Bombay High Court, seeking to quash the FIR registered against him in a rape case.
 
The high court will now hear his petition on Wednesday.
 
A 33-year-old Mumbai-based woman had filed an FIR at the city's Oshiwara police station last month, alleging that Kodiyeri had sexually exploited her for several years on the promise of marriage and that they also had an eight-year-old child.
 
Kodiyeri, who was on the run for a few weeks, had been granted bail by a Mumbai court last month, subject to conditions that he should undergo a DNA test, while submitting himself before the police probe team every Monday for a month.
 
Appearing before the Oshiwara police on Monday, Kodiyeri again failed to submit his blood for the DNA test, like on the previous two occasions.
 
According to the complaint, the woman entered into a relationship with him while working at a dance bar in Dubai in 2008 and till 2015, he even used to send her money every month. She said she filed the FIR after coming to know that Kodiyeri was already married.
 
IANS
 

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20 rescued from burning MTNL building in Mumbai, many more trapped

The Mahanagar Telephone Nigam Limited (MTNL) building at Bandra in Mumbai, where a massive fire broke out on July 22, 2019.(Photo: IANS)
The Mahanagar Telephone Nigam Limited (MTNL) building at Bandra in Mumbai, where a massive fire broke out on July 22, 2019.(Photo: IANS)
At least 20 persons were rescued but scores more were still trapped as a massive fire engulfed the Mahanagar Telephone Nigam Ltd building in Bandra here on Monday afternoon, an official said.
 
The blaze erupted round 3.10 pm on the fourth floor of the ground-plus-nine storeyed building and started spreading upwards, trapping many working in the building.
 
Many MTNL employees, who were out on lunch at that time, said they saw huge clouds of smoke billowing out of the building and alerted their colleagues inside to move to safety.
 
As there was no way out, many of them rushed towards the terrace and could be seen frantically waving their hands and kerchiefs and screaming for help from the rescue teams below.
 
Braving strong winds, firemen, using sophisticated ladders, managed to reach the terrace and rescued those trapped on the terrace, including several women.
 
The MTNL telephone exchange is located on the busy S.V. Road and around 31 fire tenders have rushed to fight the conflagration.
 
Police cordoned off traffic on the road to enable rescue vehicles and ambulances rush to the tragedy site.
 
This is the second fire in the city in the past two days. On Sunday afternoon, one person was killed in a blaze at the Churchill Chambers building in Colaba, while 14 others were rescued safely by the fire brigade. 
 
IANS
 

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