ADVERTISEMENT

Mumbai

Sensex drops 463 points on Fed's hawkish comment

Indian investors woke up to another surprise on Thursday as the US Federal Reserve went for a rate cut on the dotted lines but gave a hawkish note on future policy rates amid a marked slowdown in global economic activity.
 
Both the key Indian benchmark indices declined sharply. While the broader Nifty which had crossed 12,000 mark post-polls fell 138 points to 10,980 points, the Sensex closed 462.80 points, lower at 37,018.32.
 
The US central bank, while slashing the policy rates by 25 basis points, for the first time since 2008, said it was "not the beginning of a long series of rate cuts".
 
Indian stocks are already having a bad spell over exodus of foreign funds caused by a tax-surcharge in the Budget and a dismal ongoing corporate earning season.
 
"There has been clear overdose of challenging news flow for the past one month," said Jagannadham Thunuguntla of Centrum Broking.
 
"The Fed Chairman's statement that interest rate cut isn't the start of rate-cut cycle has dampened the excitement of investors, as Fed denied playing to the capital-market-gallery," he added.
 
Global markets felt the pinch of the Fed's hawkish remark. US indices S&P 500 and Nasdaq ended over 1 per cent lower. Most Asian markets also ended lower over additional concern of slowdown in China and South Korea.
 
European shares, however, recovered from early losses on Thursday as a solid batch of bank earnings outweighed the impact of falling expectations of US interest rate cuts, said Deepak Jasani of HDFC Securities.
 
IANS

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Sensex crashes 500 pts after Fed's hawkish remarks

The BSE Sensex plunged by over 500 points to fall below the 37,000-point mark during the afternoon trade on Thursday.
 
Indian equities in line with global markets fell as the US Federal Reserve after slashing the interest rates by 25 basis points, first since 2008, said it is "not the beginning of a long series of rate cuts".
 
Fed's hawkish comments amid a slowdown took the global investor by surprise and this resulted in a sell-off.
 
At 12.08 p.m., the Sensex was trading 468.06 points lower at 37,013.06. It hit an intra-day low of 36,976.97.
 
Only 8 of the Nifty 50 stocks traded in the green. Among the top losers were Vedanta, Zee, Tata Motors, JSW Steel and Hindalco, which fell in the range of 3 to 5 per cent.
 
The gainers were Wipro, Infratel, Power Grid and Maruti Suzuki.
 
Meanwhile, Cafe Coffee Day shares hit lower circuit for the third day in a row since CCD founder V.G. Siddhartha mysteriously disappeared and was found dead on Wednesday.
 
The CCD shares stood at Rs 110.95 apiece.
 
IANS

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Dia Mirza and husband Sahil Sangha call it quits

Dia Mirza and Sahil Sangha (File photo: IANS)
Dia Mirza and Sahil Sangha (File photo: IANS)
Actor-producer Dia Mirza and her husband Sahil Sangha announced separation on Thursday after five years into their marriage.
 
Dia tied the knot with her long-time beau Sahil on October 18, 2014. However, after 11 years of knowing each other, Dia and Sahil have decided to part ways amicably.
 
"We remain friends and will continue to be there for each other with love and respect. While our journeys may lead us down different paths, we are forever grateful for the bond that we share with each other," Dia posted on social media.
 
She thanked her family, friends and the media for their continued love and support while requesting everyone to respect their privacy at this point of time. 
 
The actress was last seen on the big screen alongside Ranbir Kapoor in Rajkumar Hirani's "Sanju", which released in June last year. She is also active on the digital platform and is featuring in "Kaafir".
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Equity indices open in red; Sensex down 185 points

ADVERTISEMENT
The key Indian equity indices opened on a negative note on Thursday, with the BSE Sensex down over 180 points.
 
The domestic indices traded in line with global indices, as Asian markets also were largely trading in the red.
 
At 9.33 a.m., the Sensex traded at 37,295.29, lower by 185.83 points or 0.50 per cent from the previous close of 37,481.12.
 
It opened at 37,387.18 and has so far touched an intra-day high of 37,387.18 and a low of 37,238.48.
 
The Nifty50 on the National Stock Exchange traded at 11,066, lower by 19.40 points or 0.47 per cent from the previous close of 11,085.40.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Coffee Day board appoints S. V. Ranganath as interim chairman

ADVERTISEMENT
The board of Coffee Day Enterprises on Wednesday appointed S. V. Ranganath as its interim chairman after the police in Mangaluru earlier recovered the body of its founding Chairman V. G. Siddhartha almost 36 hours after he went missing.
 
The board in its meeting, which commenced at 10.30 a.m. and went on till 1 p.m., also decided to appoint Nitin Bagmane as the interim Chief Operating Officer (COO), a company statement said.
 
"Constitution of an Executive Committee comprising S. V. Ranganath (Non-Executive Independent Director), Nitin Bagmane (COO) and R. Ram Mohan (CFO) to exercise the powers previously vested with the Chief Executive Officer of the Company and the Administrative Committee constituted by the Board in 2015," it said. 
 
The board will, in due course, prepare a detailed charter of authorities vested in the executive committee and approve the same, the statement said, adding that the executive committee will, inter alia, explore opportunities to deleverage the Coffee Day Group.
 
After Cafe Coffee Day owner went missing late on Monday, his body was fished out of the Netravathi river in Karnataka by a group of fishermen, some distance away from the bridge where the coffee baron was last seen.
 
The company further said that the board took cognizance of statements in the purported letter from Siddhartha relating to financial transactions outside the knowledge of the senior management, auditors and the board. 
 
"While the authenticity of the letter is unverified and it is unclear whether these statements pertain to the company or the personal holdings of V. G. Siddhartha, the board took serious note of the same and resolved to thoroughly investigate this matter."
 
Condoling Siddhartha's demise the board said that it had resolved to lend its "support and expressed full confidence" in the company's management team. 
 
The Board also took note of a message from Siddhartha's wife Malavika Hegde expressing support and trust in the company's professional team and the common effort to look after the interest of the employees and all other stakeholders, said the statement.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Congress, NCP lose 4 MLAs, ex-Minister, woman leader to BJP

ADVERTISEMENT
On anticipated lines, the beleaguered Maharashtra Opposition Congress and Nationalist Congress Party lost four sitting legislators, one former Minister, a state-level woman leader and other activists as they crossed over to join the ruling Bharatiya Janata Party (BJP) here on Wednesday, party sources said.
 
Seven-time Congress legislator Kalidas Kolambkar (Wadala in south Mumbai), NCP's Sandeep Naik (Airoli), Vaibhav Pichad (Akole) and Shivendra Raje Bhosale (Satara) on Tuesday quit their parties and legislative seats. 
 
Besides, state NCP's women's wing President Chitra Wagh also joined the BJP to a huge round of applause.
 
All the newcomers were welcomed to the party fold by state BJP President Chandrakant Patil and Chief Minister Devendra Fadnavis, Mumbai BJP chief M. P. Lodha, cabinet ministers and senior party leaders at a function here on Wednesday morning.
 
Patil assured that all the new entrants would be given suitable roles befitting their stature in the party as he hinted at more walkovers from the Opposition to the BJP before the Assembly elections to be held in October.
 
The crossover of these opposition leaders took place a day before Fadnavis embarks on his state-wide 'Mahajanadesh Yatra' to kickstart the poll campaign.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Sensex down 178 points, CCD loses 20%

ADVERTISEMENT
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note. The news of Cafe Coffee Day owner V G Siddharth's death shocked investors and led to panic selling of the company's stocks.
 
The Sensex of the BSE opened at 37,257.55 and touched a high of 37.275.62. The Sensex touched a low of 37,135.93.
 
CCD stocks hit the lower circuit again for the second day in a row during early trade. It fell by 20 per cent to Rs 123.25 per share. 
 
The Sensex is trading at 37,218.49 down by 177.75 points or 0.48 per cent from its Tuesday's close of 37,397.24.
 
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 11,034.05 after closing at 11,085.40. It is trading at 11,038.60 points.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Sensex loses 289 points in heavy selling of bank stocks

Sharp selling of automobile and state-run bank stocks on Tuesday led the Sensex to fall 289 points.
 
Indian Bank fell over 13 per cent, Bank of India fell nearly 7 per cent while most other constituents of PSU Bank index declined in the range of 2 to 6 per cent.
 
The acute stress in the auto sectors continued to show on the bourses while the metal stocks also declined sharply over growth concerns.
 
The Sensex closed 289.13 points lower at 37,397.24 from its previous close of 37,686.37. It opened at 37,735.54 from its Monday's close of 37,686.37. The Nifty fell 103.80 points lower at 11,085.40.
 
"Broad-based selling dragged the indices to lower level as investors remain cautious ahead of US-China trade talks, FED policy, US job data and mixed bag of ongoing domestic corporate results," Vinod Nair, Head of Research, Geojit Financial Services, said.
 
"Liquidity constraints and sluggish outlook on auto sector indicates that consolidation may continue. Fall in 10-year bond yield in expectation of further 25bps rate cut by the RBI may ease liquidity crunch to some extent."
 
Shares of Indiabulls Housing Finance took a heavy hit in the past two days amid allegations of embezzlement of more than Rs 1 lakh crore from the National Housing Bank (NHB). However, the company has denied the same.
 
Coffee Day Enterprises hit the lower circuit on the BSE during early trade after reports that V. G. Siddhartha, the company's founder, has gone missing.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Kerala CPI-M Secretary's son appears for DNA test

ADVERTISEMENT
Kerala CPI-M state Secretary Kodiyeri Balakrishnan's son Binoy Kodiyeri on Tuesday presented himself at a hospital in Mumbai and gave his blood sample for a DNA test, as directed by the Bombay High Court.
 
The court on Monday ordered the CPI-M veteran's son to appear for a DNA test and posted the case for August 26 when his petition requesting quashing of the FIR registered against him at the Oshiwara police station came before the court.
 
The court directed that the test reports be placed in a sealed cover and handed over in two weeks.
 
A 33-year-old Mumbai-based woman had filed a complaint before the police alleging that Kodiyeri had sexually exploited her for several years on the pretext of marriage and that they had an eight-year-old child.
 
After being on the run for some time, Kodiyeri this month got bail from the Dindoshi court in Mumbai on the condition that he should undergo a DNA test while cooperating with the police investigation.
 
But he failed to undergo a DNA test on three 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 used to send her money every month.
 
She filed the FIR after coming to know that Kodiyeri was already married.
 
IANS
 
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Vodafone Idea shares plummet, group shares hit too

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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.
 
NNN
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Woman who had labour pains in stalled train safe

ADVERTISEMENT
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

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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

ADVERTISEMENT
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.
 
NNN
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Sensex ends in green after 6 days of decline

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Mumbai NCP chief Sachin Ahir to join Shiv Sena

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Premier trains between Mumbai, Pune cancelled for 2 weeks

ADVERTISEMENT
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
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 
Syndicate content
© Copyright 2012 NetIndian. All rights reserved. Republication or redistribution of NetIndian content, including by framing or similar means, is expressly prohibited without the prior written consent of NetIndian Media Corporation. Write to info[AT]netindian[DOT]in for permission to use content. Read detailed Terms of Use.