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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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Sensex down 850 pts in two days over intense FII outflow

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The BSE Sensex has lost over 850 points in the past two sessions as the government ruled out any possibility of a roll-back of increase in tax surcharge for the super-rich in the Budget.
 
Since, July 5, when the Union Budget was proposed, Foreign Portfolio Investors (FPIs) have been in a sell mode, but it intensified after Finance Minister Nirmala Sitharaman on Thursday made it clear, the super-rich tax is here to stay.
 
FIIs have sold of Rs 6,475.55 crore worth of stocks in June, till date, the most in a month in 2019. The selling was most intense on Thursday (Rs 1,404.86 crore) and Friday (Rs 950.15 crore) after Sitharaman dashed hopes of any relief to FPI's in her reply to debate on Budget proposals in the lower house.
 
Sensex finished Monday's trade 305.88 points lower at 38,031.13 while the broader Nifty closed 82.10 points lower at 11,337.15. The Sensex had shed 560 points on Friday.
 
Vinod Nair of Geojit Financial Services suggested further pain saying "this correction has expanded to large caps which until now were attracting FII inflows, but concerns over tax and muted Q1 results will continue to impact..."
 
"Market entered into a bearish phase as investors turned sellers due to concerns over extension of economic slowdown and weak corporate earnings hurting the sentiment," Nair added.
 
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IndiGo to expand Board to 10 members

InterGlobe Aviation, the parent company of IndiGo, has decided to expand its Board of Directors up to 10 members and the expanded board will have four independent directors.
 
The decision comes on the backdrop of the recent feud between co-promoters Rakesh Gangwal and Rahul Bhatia, over issues of corporate governance.
 
"The Board of Directors of the company, at its meeting held on July 20, 2019, have decided to amend the Articles of Association of the Company for expanding the board up to a maximum of 10, including 4 independent directors. The said amendment of the articles will be subject to the approval of the shareholders at the forthcoming annual general meeting of the company," IndiGo said in a regulatory filing late on Sunday evening.
 
Currently, its board has six members, including the Chairman M. Damodaran, the former SEBI chief. On July 19, the company said its board has decided to seek shareholders' approval for expanding the board to enable the induction of an independent woman.
 
The other members on the board of InterGlobe Aviation, apart from Bhatia and Gangwal are former World Bank executive Anupam Khanna, Anil Parashar, a chartered accountant and Rohini Bhatia, the wife of Rahul Bhatia.
 
After the recent allegations of "collapsing" corporate governance in the company by Rakesh Gangwal, the Ministry of Corporate Affairs has sought "information or explanation" from the airline. Market regulator SEBI is also looking into the alleged governance lapses.
 
IANS
 

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Sensex sheds 300 points as equity indices open in red

The key Indian equity indices opened on a negative note on Monday, with the BSE Sensex losing over 300 points.
 
The Nifty50 on the National Stock Exchange was also down over 100 points, continuing the bearish trend after the government tweaked the tax on "super rich" adversely impacting the foreign portfolio investors.
 
At 9.52 a.m., the Sensex traded at 38,021.18 points, lower by 315.83 points or 0.82 per cent from the previous close of 38,337.01
 
It has so far touched an intra-day high 38,333.52 and a low 37,926.54 points.
 
The Nifty50 traded lower by 94 points or 0.82 per cent at 11,325.25 points.
 
IANS
 
 
 

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1 killed, 14 saved from Mumbai building blaze

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One person was killed and another critically injured while 13 others were rescued from a fire that broke out in a four-storeyed building in Mumbai on Sunday afternoon.
 
According to the BrihanMumbai Municipal Corporation (BMC) Disaster Control, the fire was noticed around 12.20 p.m. on the third floor of Churchill Chambers, behind the iconic Hotel Taj Mahal in Colaba area.
 
Teams of fire brigade rushed to the spot and started fire-fighting operations.
 
The conflagration was confined to electrical wiring and installations and household furniture in an area of around 5,000 sq. feet besides the staircase of the old heritage building.
 
At least 14 residents, who were trapped in the intense smoke on the third floor and a loft, were rescued using fire-ladders and brought down safely.
 
One person, Shyam Ayyar, 54, who was injured critically, was declared dead at the GT Hospital.
 
Another seriously injured 50-year-old man, Yusuf Poonamwala, has been admitted to Bombay Hospital for treatment.
 
Five others who had inhaled the toxic fumes were given first aid and allowed to go.
 
One firefighter from Mandvi Fire Brigade, Bhurmal Santosh Patil, who also suffocated was administered medical aid in an ambulance.
 
The fire was brought under control in around three hours and cooling operations are underway.
 
As a precaution, police had cordoned off the busy Mereweather Road after the blaze triggered panic among the locals and tourists.
 
IANS
 
 
 

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Two women drown while swimming off Juhu Beach in Mumbai

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Two women, including a teenager, were drowned at the famed Juhu Beach here on Sunday evening after they went into the rough sea for a swim despite warnings, officials said.
 
According to the BMC Disaster Control, the incident happened around 5.45 p.m.
 
According to some eyewitnesses, the two allegedly disregarded warnings by locals and beach guards not to venture into the choppy sea.
 
Their bodies were fished out around an hour later.
 
According to police, they hailed from Sion suburb and had gone to Juhu for a picnic when the tragedy befell them.
 
They were identified as Maya Mahendra, 29, and Nisha Karanpal Singh, 16.
 
The Santacruz police have sent their bodies for autopsy to the Cooper Hospital.
 
IANS

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Indian selectors give old heads one more go for WI series

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Kedar Jadhav hasn't done anything wrong for his non-inclusion, said chief selector M. S. K. Prasad when announcing the squads for Indias tour of the West Indies. While he did say that the selection did show that the selectors were looking forward, the teams seemed to have the same old look with the exception of a proper number four in Shreyas Iyer. Virat Kohli is set to lead the team across formats and Jasprit Bumrah has been given a rest till the Test series as expected.
 
As for M.S. Dhoni, the chief selector said that while the former India skipper has made himself unavailable for the series against Windies, they are looking at grooming Rishabh Pant across all formats. In fact, Prasad went on to add that the decision to retire lies with Dhoni.
 
Starting with the T20I side, the batting at the top wears a similar look with Shikhar Dhawan coming back at the top. But Shreyas Iyer and Manish Pandey have been brought back in the middle-order. The spin department sees the call-up of Rahul Chahar for what has been a quality show in the Indian Premier League. The pace bowling department also has a fresh look with Khaleel Ahmed, Deepak Chahar and Navdeep Saini in the squad giving Bhuvneshwar Kumar company.
 
In the ODI squad, it has been the biggest surprise as Kedar Jadhav and Kuldeep Yadav have both been given another go. After a poor show in the World Cup, it was expected that the selectors would look at fresh faces, but clearly, the five wise men don't think on the same lines. Bhuvneshwar again has Khaleel and Saini for company while Mohammed Shami is back in the ODI squad after the selectors decided to rest him for the T20Is.
 
The Test squad also has almost the same look from the last time with most of them picking themselves and Bumrah coming back for the Test Championship. With Rohit doing well in the last series against Australia, he has also retained his place in the middle-order. Umesh Yadav has been backed as the fourth pacer behind Ishant Sharma, Bumrah and Mohammed Shami while Bhuvneshwar has missed out.
 
India's squad for 3 T20Is: Virat Kohli (Captain), Rohit Sharma (VC), Shikhar Dhawan, KL Rahul, Shreyas Iyer, Manish Pandey, Rishabh Pant (WK), Krunal Pandya, Ravindra Jadeja, Washington Sundar, Rahul Chahar, Bhuvneshwar Kumar, Khaleel Ahmed, Deepak Chahar, Navdeep Saini.
 
India's squad for 3 ODIs: Virat Kohli (Captain), Rohit Sharma (VC), Shikhar Dhawan, K.L. Rahul, Shreyas Iyer, Manish Pandey, Rishabh Pant (wk), Ravindra Jadeja, Kuldeep Yadav, Yuzvendra Chahal, Kedar Jadhav, Mohammed Shami, Bhuvneshwar Kumar, Khaleel Ahmed, Navdeep Saini.
 
India's squad for 2 Tests: Virat Kohli (Captain), Ajinkya Rahane (VC), Mayank Agarwal, KL Rahul, C Pujara, Hanuma Vihari, Rohit Sharma, Rishabh Pant (WK) Wriddhiman Saha (WK), R. Ashwin, Ravindra Jadeja, Kuldeep Yadav, Ishant Sharma, Mohammed Shami, Jasprit Bumrah, Umesh Yadav.
 
IANS
 

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1 feared dead, 14 saved from Mumbai building blaze

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At least one person is feared dead, while 14 others were rescued from a fire that broke out in a 4-storeyed building in Mumbai on Sunday afternoon.
 
According to the BrihanMumbai Municipal Corporation (BMC) Disaster Control, the fire was noticed around 12.20 p.m. on the third floor of Churchil Chambers, behind the iconic Hotel Taj Mahal in Colaba.
 
Teams of fire brigade rushed to the spot and started fire-fighting operations. At least 14 residents were rescued using fire-ladders and brought down safely. One person, who was injured seriously, is feared dead, and details are awaited.
 
The police have cordoned off the busy Mereweather Road, after the blaze triggered panic among the locals and tourists.
 
IANS
 

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RIL Q1 consolidated net profit up 6.8% to Rs 10,104 crore

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Reliance Industries Ltd. (RIL) on Friday reported a 6.8 per cent increase in its consolidated net profit for the quarter ended June 30 of financial year 2019-20, on a year-on-year (YoY) basis.
 
Accordingly, the company's consolidated net profit (attributed to the owners of the company) during the first quarter of FY 2019-20 rose to Rs 10,104 crore, against Rs 9,459 crore reported during the corresponding period of the previous fiscal.
 
The company reported consolidated revenue of Rs 1,72,956 crore during the quarter under review, up 22.1 per cent from Rs 1,41,699 crore on a YoY basis.
 
According to the company, growth in revenue was led by sharp increase in revenue from "Digital Services and Retail business", which recorded an increase of 55 per cent YoY and 48 per cent YoY respectively. 
 
Besides, higher refinery throughput on YoY basis, contributed to the increase in revenue for the refining business. 
 
On a standalone basis, the RIL reported a rise of 2.4 per cent on a YoY basis to Rs 9,036 crore from Rs 8,820 crore reported during the corresponding period of the previous fiscal.
 
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Our first quarter earnings were strong despite weak global macroeconomic environment and challenging hydrocarbon market conditions. Our downstream businesses delivered resilient performance in an environment of slower demand growth and incremental supplies".
 
"The performance reflects the benefits of deep refining and petrochemicals integration, chain economics and feedstock flexibility."
 
Ambani said the company continues to make major strides in its retail and digital services businesses led by focus on growth markets with offerings in the right product segments and compelling value proposition.
 
"We are pleased with the robust growth both in revenues and operating income for Reliance Retail. Our digital services business continues to transform the mobility market in India while scaling newer milestones," Ambani said.
 
Reliance Retail's revenue for Q1 FY20 grew by 47.5 per cent YoY to Rs 38,196 crore as against Rs 25,890 crore in the corresponding period of the previous year.
 
Reliance Retail operates 10,644 stores across 6,700 plus towns and cities, with an area of 23 million sq.ft. 
 
"Rapid store expansion particularly in Tier 3 or Tier 4 markets, stronger value proposition and catchment focused assortment have been key drivers for robust growth in retail business," the company said in a statement.
 
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