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IPL: Mumbai ride De Kock's 81 to post 187/5 against Rajasthan

It was a good toss to lose for Mumbai Indians (MI) at the Wankhede Stadium on Saturday as they piled up 187/5 against Rajasthan Royals (RR) after being put in to bat first in their Indian Premier League (IPL) clash on Saturday.
 
Quinton de Kock stole the show with the bat as he hit a 52-ball 81 (4x6, 6x4) to set the tone for the home team. While de Kock was dismissed in the 19th over, Hardik Pandya carried forward the onslaught to finish with an unbeaten 28 off just 11 balls (4x1, 6x3).
 
The common adage goes that morning shows the day, and the MI innings was a perfect testimony to that. With regular skipper Rohit Sharma back in the XI, he opened the batting with de Kock and the two took the Royals bowling to the cleaners from the word go.
 
Such was their domination that MI raced to 57 without losing a wicket in just six overs. They played smart cricket and latched onto the bad balls to ensure that the RR bowlers paid the price when they erred in length. The two were in such good form that even the otherwise economical Jofra Archer went for 12 off his first over of the game.
 
But Archer had something to celebrate when he dismissed Rohit for a 32-ball 47 (4x6, 6x1). Looking to up the ante after reaching a comfortable 92/0 after 10 overs, Rohit perished as he looked to hit Archer out of the park in the 11th over. Jos Buttler completed an easy catch at long-on as Sanju Samson wore the wicketkeeping gloves again.
 
Coming in at No. 3, Suryakumar Yadav too looked to build on the strong start, but managed to score just 16 off 10 balls before Dhawal Kulkarni cleaned him up. Kieron Pollard too failed to make much of the opportunity as he was dismissed by Archer, with the batsman looking to hit the West Indies-born English player out of the park.
 
De Kock, though, held the fort and kept picking the timely boundaries before Archer finally dismissed him as the southpaw looked to clear the long-off boundary in the penultimate over, only to be caught by Buttler who took a brilliant running catch.
 
Losing wickets at regular intervals as they tried to finish with a flourish, MI managed to score 61 runs in the last five overs for the loss of three wickets.
 
Brief scores: Mumbai Indians 187/5 (Quinton de Kock 81, Rohit Sharma 47; Jofra Archer 3/39)
 
IANS
 

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India’s forex reserves rise by $ 1.876 billion to $ 413.781 billion

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Continuing an uptrend for the eighth consecutive week, India’s foreign exchange reserves rose by $ 1.876 billion to $ 413.781 billion during the week ended April 5, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had soared by a whopping $ 5.237 billion to $ 411.905 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 2.062 billion to $ 386.116 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 decreased by $ 182.6 million to # 23.226 billion, while its special drawing rights (SDRs) went down by $ 0.1 million to $ 1.4555 billion.
 
India’s reserve position in the International Monetary Fund (IMF) decreased by $ 2.5 million to $ 2.984 billion, the bulletin added.
 
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Confident Mumbai to host lacklustre Rajasthan

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A confident Mumbai Indians will look to consolidate their position in the Indian Premier League (IPL) points table when they host a lacklustre Rajasthan Royals at the Wankhede Stadium here on Saturday.
 
Mumbai have won their last three games and are placed third on the table with four wins from six games while their opponents have managed to win just one game so far and lie in the seventh place.
 
In the absence of regular skipper Rohit Sharma, Kieron Pollard led Mumbai from the front and came up with two match-winning performances. He was ably supported by Alzarri Joseph, who has been the find of the tournament.
 
A leg injury had forced Rohit to miss their game against Kings XI Punjab (KXIP) and it remains to be seen whether the skipper has fully recovered or not. In the game against Punjab where Mumbai were chasing a mammoth 198 for victory, Pollard smashed a 31-ball 83 to ensure another victory for the three-time champions.
 
Joseph, who had a dream debut after returning with the best IPL figures of 6/12 against Sunrisers Hyderabad, played a crucial cameo down the order against Punjab to help Mumbai cross the line in time.
 
On Saturday, all eyes will once again be on Pollard and Joseph, who are currently in top form.
 
If Rohit comes back to the playing eleven, it will further strengthen Mumbai's batting line-up, which features some dependable names like Hardik Pandya, Krunal Pandya, Quinton de Kock and Ishan Kishan.
 
Coming to Rajasthan, it seems nothing is going their way as they lost a nail-biter against defending champions Chennai Super Kings on Thursday, thanks to Mitchell Santner's last ball six which kept the yellow brigade at the top of the table.
 
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Rajasthan would once again bank on Jofra Archer, who conceded just 19 runs from his four overs, giving his team a chance to defend a modest 152 against the star-studded Chennai team.
 
Shreyas Gopal has also been amongst the wickets after picking up eight from six games. The leg-spinner, however, failed to perform against the yellow brigade and would have to step up in another high-profile class.
 
Rajasthan's batting includes skipper Ajinkya Rahane, Sanju Samson, Steve Smith and Jos Buttler and with the league reaching the half-way mark, this would be the right time for them to deliver.
 
Rajasthan pacers Jaydev Unadkat and Dhawal Kulkarni, along with Shreyas also need to come out with something special if they want to stay alive in the tournament.
 
Overall, looking at the recent past, Mumbai will be the favourites on Saturday. However, with some stars in their ranks, Rajasthan could also cause an upset.
 
Squads:
 
Mumbai Indians: Rohit Sharma (Captain), Quinton de Kock (wicket-keeper), Suryakumar Yadav, Yuvraj Singh, Kieron Pollard, Hardik Pandya, Krunal Pandya, Mitchell McClenaghan, Jason Behrendorff, Mayank Markande, Rahul Chahar, Jasprit Bumrah, Alzarri Joseph, Anmolpreet Singh, Siddhesh Lad, Ankul Roy, Evin Lewis, Pankaj Jaiswal, Ben Cutting, Ishan Kishan, Aditya Tare, Rasikh Salam, Barinder Sran, Jayant Yadav
 
Rajasthan Royals: Ajinkya Rahane (Captain), Steve Smith, Ben Stokes, Jofra Archer, Jos Buttler, Ashton Turner, Ish Sodhi, Oshane Thomas, Liam Livingstone, Sanju Samson (wicket-keeper), Shubham Ranjane, Stuart Binny, Shreyas Gopal, Sudhesan Midhun, Jaydev Unadkat, Prashant Chopra, Mahipal Lomror, Aryaman Birla, Riyan Parag, Dhawal Kulkarni, Krishnappa Gowtham, Varun Aaron, Shashank Singh, Manan Vohra, Rahul Tripathi
 
IANS
 

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Sensex ends higher ahead of Q4 results, macro data

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Ahead of the fourth quarter results of IT heavyweights Infosys and TCS, and key macro data release, major equity indices ended the week on a higher note led by gains in banking stocks.
 
The BSE Sensex closed 160.10 points or 0.41 percent higher at 38,767.11. The broader Nifty finished 46.75 points or 0.40 percent higher at 11,643.45.
 
"Market turned positive despite a weak rupee as investors remain focused on earnings (season) which will kick-start today with IT heavyweights. Banks outperformed as today's CPI inflation data is expected to be under RBIs targeted level and is likely to pick up in credit growth," said Vinod Nair, Head of Research, Geojit Financial Services 
 
"Earnings season will give direction to the market while investors are also keen on the ongoing election to gain confidence."
 
SpiceJet stocks surged over 10 percent after SpiceJet said it is set to induct 16 Boeing aircraft on lease in the next 10 days.
 
Ahead of the fourth quarter results, Infosys and TCS ended on a flat note. DHFL fell 3 percent after Brickwork's ratings downgrade. ITC finished as the top gainer on the Sensex.
 
On the week gone by, Sanjeev Zarbade, VP - PCG Research, Kotak Securities, said that Indian markets are steady as investors remained hopeful of a decent 4QFY19 earnings season and a favourable outcome of the general elections. 
 
He further added that "at the same time, risks in the form of higher crude oil prices have increased".
 
IANS
 

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Equity indices open in green, Sensex up 95 points

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The key Indian equity indices opened on a positive note on Friday, with the Sensex gaining around 95 points.
 
Healthy buying in the oil and gas and IT stocks helped the indices rise, while a largely negative global market capped gains in the domestic market, analysts said.
 
At 9.41 a.m., the BSE Sensex traded at 38,702.46, higher by 95.45 points or 0.25 per cent from the previous close of 38,607.01 points.
 
It had opened at 38,692.06, and so far touched an intra-day high of 38,721.01 and low of 38,635.76 points.
 
The Nifty50 on the National Stock Exchange was at 11,624.75, higher by 28.05 points or 0.24 per cent from the previous close of 11,596.70 points.
 
IANS
 

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Shrinking Jet cancels international departures for one night

With its fleet size further shrinking to 14 aircraft, debt-ridden Jet Airways on Thursday suspended long-haul West-bound flight departures for one night and invited government scrutiny over the airline's regulatory compliance.
 
The development came after the once-premier airline was left with only 14 aircraft from around 120 last year, triggering speculation over its survival as a lengthy stake sale process continued.
 
On Thursday, senior government officials said that they were closely monitoring the operational situation at Jet to ensure its compliance with overseas flying rules. 
 
But by the end of the day, the airline itself cancelled long-haul West-bound international departures for one night.
 
According to airline insiders, only long-haul West-bound international departures have been called-off from Thursday night to Friday morning.
 
"Long-haul international departures have been called-off for one night. The situation is dynamic but the majority of the current operations remain intact," an airline official told IANS in Mumbai.
 
Earlier in the day, official sources said that the airline was currently operating only about 14 aircraft -- down from 26 last week -- and this might lead to suspension of its international operations.
 
As per rules, an airline needs to have a minimum of 20 aircraft to be eligible to operate international flights.
 
Till recently, the airline operated 26 aircraft, including Airbus A330s, Boeing 777s, 737-800 and ATRs, to various destinations like London, Toronto, Singapore, Amsterdam, Paris, Bangkok and domestic sectors like Mumbai-Delhi, among others.
 
It apparently owns 16 out of these 26 aircraft.
 
In another development, some aircraft lessors on Thursday withdrew their de-registration request with the government. 
 
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If these aircraft came back to operation, aviation experts said that Jet could again have 21 aircraft in its fleet, the bare minimum required for overseas services.
 
On its part, the airline has cancelled operations to and from Singapore and its flights to Kolkata and the Northeast.
 
"#ADVISORY: @jetairways (9W) has suspended its services to and from Singapore until further notice. Passengers are advised to contact their booking agent or the airline directly (info@jetairways.com) for available options," the Changi Airport in Singapore tweeted.
 
Jet said in a statement: "Jet Airways' flight 9W 615 Mumbai to Kolkata and 9W 675 Kolkata to Guwahati of tomorrow April 12, 2019, has been cancelled due to operational reasons.
 
"Similarly, 9W 676 Dehradun to Kolkata via Guwahati has been cancelled on the same date until further notice. Guests have been duly informed and refunds are being processed. Jet Airways sincerely regrets inconvenience caused to its guests."
 
Jet Airways is in the midst of a severe liquidity crisis that has affected its operations and resulted in the grounding of several of its aircraft.
 
The latest development came a day after lenders of the debt-ridden airline tweaked the terms for stake sale and also extended the submission deadline for expression of interest (EoI) bids from prospective buyers.
 
At present, the airline owes over Rs 8,000 crore to a consortium of lenders led by the State Bank of India.
 
Last Tuesday, the airline was served a legal notice by a section of its pilots demanding payment of salaries, due since January 1, 2019, by April 14.
 
Subsequently, its Chief Executive Officer (CEO) Vinay Dube said that the company is working with the lenders on the balance sheet restructuring plan and will inform the employees about the progress of the process by early next week.
 
Besides the employees, the airline's aircraft lessors, too, are upset with the current financial situation, with some of them requesting the Directorate General of Civil Aviation (DGCA) to de-register their aircraft leased to the company.
 
The de-registration request section on the DGCA's website on Thursday showed that lessors have applied to de-register 14 aircraft owing to unpaid dues. However, some lessors have also withdrawn their de-registration request. 
 
IANS
 

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Etihad, Goyal likely to bid for Jet, NIIF interested: Sources

Even as former Jet Airways' Chairman Naresh Goyal is expected to submit initial bids to purchase stake in the airline, the state-run National Investment and Infrastructure Fund Limited (NIIF) has shown interest in the cash-strapped carrier's stake sale initiated by the lenders' consortium, sources privy to the development said on Thursday.
 
According to industry insiders, the UAE-based Etihad Airways has also shown interest in the Jet stake sale and is in touch with SBI Caps, the firm mandated to carry out the sale on behalf of the banks' consortium. 
 
"It is very likely that Goyal will participate in this particular process. However, an NCLT (National Company Law Tribunal adjudicating in insolvency cases) process will not allow ex-promoters to participate in the stake sale," an industry source told IANS in New Delhi. 
 
"Etihad is also expected to put in their bid by Thursday evening. NIIF has been in touch with the lenders. They are an exempted entity and they do not need to send in their EoI (expression of interest) to participate in the process," he said. 
 
Current regulations exempt NIIF or wealth funds from going through the initial process of stake sale, like submission of EoIs. 
 
"As qualified bidders, they (NIIF) have been given the right under the current regulations," another source said. 
 
"Till yesterday (Wednesday) there were 5 bids. Lenders are confident of getting a total of around 10 bids by the end of the EoI submission deadline on Friday." 
 
On Wednesday, the lenders of the debt-ridden airline tweaked the terms of the stake sale and also extended the submission deadline for EoI bids from prospective buyers. 
 
As per a clarification document issued by investment banking major SBI Capital Markets (SBI Cap) on Wednesday, prospective buyers can acquire the company or effect a change in its management control. 
 
The prospective buyers would also be required to furnish solvency certificates. 
 
Through another 'clarification' document, the last date for EoI submission was extended from 6 p.m. on Wednesday to 6 p.m. on Friday (April 12).
 
The issue of further fund infusion into the airline also hangs in the balance, as the lenders will decide whether to pump in more capital based on their assessment of the response to the EoI. 
 
According to the document, the last date for submission of queries has also been extended to April 11. 
 
"While all soft copies of the EoIs are required to be submitted by the due date, the hard copies may be submitted by April 16, 2019," it said. 
 
The lenders have offered stake ranging from 31.2 to 75 percent of the company on a fully diluted basis. 
 
Currently, the airline owes Rs 8,000 crore to the lenders' consortium led by the state-run State Bank of India (SBI). 
 
Goyal had stepped down from the board of the airline and ceded majority control to the SBI-led consortium on March 25. 
 
IANS
 

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Markets end flat over growth concerns

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Key equity indices closed on a flat note on Thursday over concerns of global growth after the International Monetary Fund cut the global growth forecast. Caution was also seen in view of the first phase of general elections.
 
Besides, analysts said that markets were largely dull as investors were cautious ahead of the beginning of the fourth quarter results.
 
Banking sector stocks witnessed heavy selling pressure while the IT sector also declined. However, auto stocks gained. 
 
The BSE Sensex settled 21.66 points or 0.06 percent higher at 38,607.01 while the Nifty finished 12.40 points higher or 0.11 percent at 11,596.70.
 
"Market was range bound and finally settled with minor gains as investors stayed cautious at the start of the initial phase of polling and remained watchful ahead of the announcement of CPI and IIP data on Friday. Pick up in auto sales aided the sector to gain investor's attention," said Vinod Nair, Head of Research, Geojit Financial Services.
 
On the global front, Nair said economic growth remains a concern but Fed minutes reiterating the dovish view on rates will provide support to emerging markets like India.
 
TCS and Infosys both finished lower ahead of its earnings results on Friday. With the two results, fourth quarter results will begin.
 
IANS
 

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Key Indian equity market indices open in green

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Despite a muted trend in Asian markets, the key Indian equity market indices on Thursday opened higher as the first phase of the Lok Sabha Polls began with voting in 91 seats.
 
The Sensitive Index (Sensex) of the BSE, which had closed at 38,585.35 points on Wednesday, opened higher at 38,621.58 points.
 
Minutes into trading, it was quoting at 38,574 points, down by 11.35 points or 0.03 per cent.
 
At the National Stock Exchange (NSE), the broader Nifty 50, which had closed at 11,584.30 points on Wednesday, was quoting at 11,581.60 points, down by 2.70 points or 0.02 per cent.
 
As many as 28 stocks advanced in the Nifty 50 index while 22 stocks declined. In the BSE Sensex, 16 stocks including Tata Motors, ONGC, ITC were trading in green while 14 stocks including HDFC, TCS were trading in red at 9.20 a.m.
 
Indian equities fell sharply on Wednesday after the International Monetary Fund (IMF) revised down the global growth forecast fuelling fears of a global slowdown. Investors were also cautious ahead of the polls which began on Thursday morning.
 
Caution was also seen among investors ahead of the start of earnings season and for fresh trade tensions between the US and the EU.
 
The Sensex was down by 353.87 points, or 0.91 per cent, at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 38,950.45 points and a low of 38,542.28 points. The Nifty, too was down by 87.65 points, or 0.75 per cent.
 
On Thursday, Asian indices were showing mostly a negative trend. Japan's Nikkei 225 was quoting in red, down by 0.22 per cent while Hang Seng was also trading in red, down by 1.09 per cent and South Korea's Kospi was down by 0.22 per cent. China's Shanghai Composite was also quoting in red, down by 1.20 per cent.
 
Overnight, Nasdaq closed in green, up by 0.69 per cent while FTSE 100 was down by 0.05 per cent at the closing on Wednesday.
 
IANS
 

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Never thought SOTY sequel will happen so soon: Varun Dhawan

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Actor Varun Dhawan, who made his Hindi film debut with 'Student of The Year', said he never thought that the sequel of his romantic-comedy drama film will happen so soon.
 
Dhawan was interacting with the media to promote 'Kalank' along with his co-actors Alia Bhatt, Aditya Roy Kapur and Sonakshi Sinha in Mumbai on Wednesday.
 
Dhawan, Bhatt and Sidharth Malhotra made their Hindi film debut with 'Student of The Year', which released in 2012.
 
On Wednesday, the makers of 'Student of The Year 2' released posters of the film and the film is going to release in May.
 
Talking about the film, Varun said, "I think Tiger (Shroff), Ananya (Panday) and Tara (Sutaria) are looking superb in the film. Alia, Sid (Sidharth Malhotra) and I are equally proud and happy about it. We never thought that there will be a sequel to our film and that too really soon. People still call us 'student' and I don't think that tag will go away from us and we never know in 'Student of The Year 3' we might go back to school."
 
Talking about audience response to the trailer and songs of 'Kalank', Varun said, "This is one of the biggest films of our film career and only seven days are left for the release of the film, so we are very nervous and excited about it. We haven't seen the film yet."
 
"I feel audience have huge expectations from this film because it has a huge cast and it's huge in its scale. People have appreciated the trailer and songs of the film so, hopefully on April 17, they will like the film as well," he added.
 
Talking about his character in the film, Varun said, "Zafar is a very interesting character and it is one of the important characters of my film career. I think we all have done justice to our respective characters. I hope we have stayed true to the vision of Abhishek Verman, Karan Johar, Sajid Nadiadwala and Fox Star Studios."
 
'Student of the Year 2' is directed by Punit Malhotra and produced by Karan Johar, Hiroo Yash Johar and Apoorva Mehta under the banner of Dharma Productions. The film will be distributed by Fox Star Studios.
 
The film stars Tiger Shroff, debutants Tara Sutaria and Ananya Panday.
 
It is set to release on May 10, 2019.
 
IANS
 

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Pollard heroics help Mumbai beat Punjab in thriller

Keiron Pollard poured cold water on K L Rahul's maiden hundred with a whirlwind knock as Mumbai Indians scripted a last-ball three-wicket victory over Kings XI Punjab in a thrilling Indian Premier League (IPL) encounter here on Wednesday.
 
World Cup hopeful Rahul slammed an unbeaten 100 off 64 balls (6x4; 6x6) along with Chris Gayle's 63 off 36 balls to help Punjab post a challenging 197/4 after Pollard -- captaining the team in the absence of Rohit Sharma who is injured -- asked them to bat first.
 
Chasing 198 for a win, Mumbai were stuttering at 56/2 when Pollard (83 off 31 balls) pushed himself up at No 4 and took the game away from Punjab by hitting 10 sixes and three fours.
 
With 15 needed in the last over, Pollard was dismissed after smashing a six off a no ball and a four by Ankit Rajpoot.
 
But Alzarri Joseph (15 not out) kept his cool to take his team over the line with two needed from the last ball. Mumbai posted 198/7.
 
Mumbai were 56/2 when Pollard came to the crease. The veteran West Indies all-rounder then joined hands with Ishan Kishan (7) and Hardik Pandya (19) to stitch together 32 and 41 run stands for the fourth and fifth wickets, respectively, to then associate with Joseph for a seventh-wicket 54-run partnership.
 
Earlier, Rahul and with Gayle combined for a 116-run opening wicket partnership to give the visitors a blistering start.
 
While Rahul hit six fours and six sixes, Gayle bludgeoned seven sixes and three fours.
 
Gayle was dismissed in the 13th over after which Kings XI slowed down a bit. But Rahul ensured they got to an above par score by smashing Hardik Pandya 6-4-6-6 in the first four deliveries of the 19th over and then hitting Jasprit Bumrah for a four and six in the final over, as 38 runs came in the last two.
 
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Gayle, typically, took time to get going and it was only in the fifth over that the legendary West Indian changed gears by hitting Jason Behrendorff for three sixes and one four as the Aussie leaked 23 runs.
 
Kings XI were 50/0 at the end of Powerplay with both batsmen looking in ominous form.
 
Rahul hit Joseph for a delectable six and a four in the seventh over to continue his good form.
 
There was no stopping Gayle as he plundered a six and two fours off Hardik in the ninth over which cost the home team 17 runs as Kings XI raced to 93/0 at the half-way stage.
 
Gayle then brought up his 26th fifty in the IPL off 31 balls by smacking Krunal Pandya for a six in the 11th over. Punjab badly needed to break the partnership and Behrendorff did it, coming back to remove Gayle.
 
David Miller (7) did not last long, caught behind by Quinton de Kock off Hardik as the scoring slowed down.
 
Karun Nair followed suit managing only five runs before nicking one to de Kock behind the stumps off Pandya.
 
Sam Curran (8) tried to be cheeky but Bumrah got the better of him as the England all-rounder scooped one to de Kock. Just when it looked like Mumbai had successfully reined in, Rahul went berserk in the last two overs and together with Mandeep Singh (7 not out) associated a brisk 46-run stand for the fifth wicket.
 
Brief scores: Kings XI Punjab 197/4 (K.L. Rahul 100, Chris Gayle 63; Hardik Pandya 2/57) vs Mumbai Indians 198/7 (Keiron Pollard 83; Mohammed Shami 3/21)
 
IANS

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Rahul slams maiden ton as Punjab post 197/4 against Mumbai

World Cup hopeful K. L. Rahul slammed an unbeaten hundred, his first in the Indian Premier League (IPL), as Kings XI Punjab also rode on Chris Gayle's pyrotechnics to post 197/4 in 20 overs against Mumbai Indians here on Wednesday.
 
Rahul (100 not out off 64 balls) and Gayle (63 off 36 balls) joined hands for a 116-run opening wicket partnership to give the away side a blistering start. While Rahul hit six fours and six sixes, Gayle bludgeoned seven sixes and three fours.
 
Gayle was dismissed in the 13th over after which Kings XI slowed down a bit. But Rahul ensured they got to an above par score by smashing Hardik Pandya 6-4-6-6 in the first four deliveries of the 19th over and then hit Jasprit Bumrah for a four and six in the final over as 38 runs came in the last two overs.
 
Gayle, typically, took time to get going and it was only in the fifth over that the legendary West Indian changed gears by hitting Jason Behrendorff for three sixes and one four as the Aussie leaked 23 runs.
 
Kings XI were 50/0 at the end of Powerplay with both batsmen looking in ominous form.
 
Rahul hit last match's hero Alzarri Joseph for a delectable six and a four in the seventh over to continue his good form with the bat as Mumbai bowlers looked rudderless without captain Rohit Sharma who could not play due to an injury.
 
There was no stopping Gayle as he plundered a six and two fours off Pandya in the ninth over which cost the home team 17 runs as Kings XI raced to 93/0 at the halfway stage.
 
Gayle then brought up his 26th fifty in the IPL off 31 balls by smacking Krunal Pandya for a six in the 11th over. Punjab badly needed to break the partnership and Behrendorff did it, coming back to remove Gayle.
 
Trying to hit another six, Gayle holed out to Krunal Pandya at deep midwicket. David Miller (7) did not last long, caught behind by Quinton de Kock off Hardik Pandya as the scoring slowed down.
 
Karun Nair -- playing in place of injured Mayank Agarwal -- followed suit, managing only five runs before nicking one to de Kock behind the stumps off Hardik Pandya.
 
Sam Curran (8) tried to be cheeky but Bumrah got the better of him as the England all-rounder scooped one to de Kock. But just when it looked like Mumbai had successfully reined Punjab in, Rahul went berserk in the last two overs.
 
Brief scores: Kings XI Punjab 197/4 (K.L. Rahul 100, Chris Gayle 63; Hardik Pandya 2/57) vs Mumbai Indians
 
IANS
 

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IPL: Rohit-less Mumbai ask Punjab to bat first

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In the absence of the injured Rohit Sharma, stand-in Mumbai Indians captain Keiron Pollard won the toss and decided to field first against Kings XI Punjab in their Indian Premier League (IPL) clash at the Wankhede stadium here on Wednesday.
 
Rohit suffered a right leg muscle spasm during training on Tuesday and chose to sit out of the season's first return fixture as a precautionary measure. Sharma has been replaced by Mumbai batsman Siddhesh Lad.
 
For Kings XI, Mayank Agarwal, who is still recovering from a finger injury, has been replaced by Karun Nair while Mujeeb Ur Rahman made way for Hardus Viljoen.
 
Teams
 
Mumbai Indians: Quinton de Kock, Suryakumar Yadav, Siddhesh Lad, Krunal Pandya, Ishan Kishan (wicketkeeper), Hardik Pandya, Kieron Pollard (captain), Rahul Chahar, Alzarri Joseph, Jason Behrendorff, Jasprit Bumrah
 
Kings XI Punjab: Chris Gayle, K.L. Rahul (wicketkeeper), Karun Nair, Mandeep Singh, Sarfaraz Khan, David Miller, Sam Curran, Hardus Viljoen, Ravichandran Ashwin (captain), Ankit Rajpoot, Mohammed Shami
 
IANS

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Sensex tanks 345 points on growth concerns

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Indian equities fell sharply on Wednesday after the International Monetary Fund (IMF) revised down the global growth forecast fuelling fears of a global slowdown. Investors were also cautious ahead of the polls which are set to begin from Thursday.
 
Caution was also seen among investors ahead of the start of the earnings season and for fresh trade tensions between the US and the EU. 
 
The BSE Sensex closed 345.20 points or 0.89 percent lower at 38,594.02. The broader Nifty slipped by 84 points or 0.72 percent to finish at 11,587.95.
 
"Market slid ahead of the start of the first phase of polling and renewed concern on global economic growth after IMF downgraded the growth forecast to 3.3 percent for 2019. Rupee remains strong and FIIs inflow was steady which will cap the downside," said Vinod Nair, Head of Research, Geojit Financial Services.
 
The election-led consolidation may be short-lived and the key trigger will be the earnings growth which is expected to start to revive from the fourth quarter onwards, he added.
 
According to Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking, the correction was "led by heavyweights like HDFC Twins, Reliance and marquee IT names".
 
Hindalco Industries was among the top losers on the NSE as the company temporarily shut the operations of its alumina plant in Jharkhand after a spillage incident injured four people.
 
Asian Paints, the largest paint maker lost nearly 2.5 percent after a downgrade by CLSA over rising crude oil prices. Bharti Airtel lost the most on Wednesday on the NSE.
 
Wipro gained more than 2 percent after market regulator SEBI approved a buyback worth Rs 12,000 crore, the company's largest till date. Tata Motors ended as the top gainer. 
 
IANS

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Indian equity markets open in the red on Wednesday

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The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.
 
The Sensex of the BSE opened at 38,898.60, touched a high of 38,902.44 points and a low of 38,851.77.
 
It was trading at 38,900.60 down by 38.62 points or 0.10 percent from its Tuesday's close at 38,939.22.
 
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 11,646.85 after closing at 11,671.95.
 
The Nifty was trading at 11,655.70 in the morning.
 
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SBI reduces its MCLR and home loan rates from April 10

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State Bank of India (SBI), the country's largest lender, has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points (bps) across all tenors with the 1-year MCLR coming down from 8.55% per annum to 8.50% per annum.
 
As a result, Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from 10th April 2019, a press release from SBI said.
 
The release said SBI had made its housing loans more affordable by reducing the interest rate by 10 bps on loans up to Rs. 30 lakh. Now the applicable interest rate for such housing loans below Rs. 30 lakh will range from 8.60% p.a. to 8.90% p.a. (from existing rates of 8.70% p.a. to 9.00% p.a.), it said.
 
With SBI having linked its CC/OD rates above Rs. 1 lakh to the repo rate for better transmission of RBI’s policy rates, the benefit of the reduction in repo rate by 25 bps by RBI with effect from 4th April, 2019 will get passed on in its entirety to such CC/OD customers banking with SBI with effect from 1st May, 2019, it said.
 
Since SBI also has linked its savings bank (SB) rates to the repo rate, the saving bank rates shall also stand revised with effect from 1st May, 2019.
 
The new rates will be as follows:
 
For balances up to Rs. 1.00 lakh; 3.50 % p.a. (comprising almost 95% of SB account holders)
 
For balances above Rs. 1.00 lakh; 275 bps below repo rate i.e. effective rate being 3.25% p.a.
 

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Sensex ends 238 pts up despite high oil price

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The benchmark Sensex closed 238 points higher on Tuesday despite the crude oil prices hitting a five-month high. A sudden buying interest was seen during the later hours of the trade session after indices traded in a range-bound manner for the better part of the session.
 
Analysts said the gains came on the back of positive global cues and expectations of healthy corporate earnings from the IT and banking sectors.
 
The BSE Sensex closed 238.69 points or 0.62 percent higher at 38,939.22, while the Nifty settled higher by 67.45 points or 0.58 percent at 11,671.95.
 
The rupee, too, gained against the dollar despite surging crude oil prices, owing to Reserve Bank of India (RBI) intervention.
 
"RBI has sold dollar to keep the rupee in the 68 to 70 range. That apart, some corporate inflows can also be reasons for the rupee surging," Anindya Banerjee of Kotak Securities told IANS.
 
The benchmark Brent Crude prices climbed above the $71 per barrel mark on Tuesday oversupply concerns from war-torn Libya. The oil prices were already on the rise due to US sanctions on Iran and Venezuela which has curtailed global crude oil supply. 
 
Moreover, the OPEC-led production cut also pushed up the prices. 
 
IndiaBulls Housing Finance ended as the top loser on Nifty for the second consecutive day on Tuesday after announcing its merger on Friday with Lakshmi Vilas Bank. Asian Paints declined over 3 percent on rising crude oil prices. 
 
"Market gained after a range-bound movement in expectation of a turnaround in earnings growth led by Q4 FY19 results starting this week while positive global peers aided the market. Banks outperformed as outlook improved led by a reduction in stressed assets, repo rate and pick up in credit growth," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"But valuation is on a premium level while the start of the first phase of polling may bring volatility in the market," he said.
 
IANS
 

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Sensex, Nifty flat on oil export concerns from Libya

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Indian equity and currency markets opened on a flat note on Tuesday as investors feared a further rise in crude oil prices owing to concerns over exports from war-torn Libya.
 
The oil prices were already on the rise over US sanctions in Iran and Venezuela which has curtailed global crude oil supply. Moreover, the OPEC-led production cut also pushed up the prices. 
 
The benchmark, Brent Crude surged over the $71 a barrel mark. 
 
Except for export-oriented IT stocks, all other sectoral stocks on the NSE witnessed heavy selling pressure. 
 
The BSE Sensex opened at 38,730.93, slightly higher from its previous close of 38,700.53. At 9.39 a.m., the Sensex was down 28.32 points or 0.07 percent at 38,672.21. 
 
The broader Nifty traded 17.85 points lower at 0.15 percent. It opened marginally higher at 11,612.05 from its previous close of 11,604.50. 
 
On Monday, Foreign Institutional Investors (FIIs) bought stocks worth Rs 329.60 crore while the Domestic Institutional Investors (DIIs) sold stocks worth Rs 623.81 crore. 
 
IANS
 

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Six entities for Jet EoI; stake sale up to 75%

Global private equity firm TPG Capital and international airlines such as Lufthansa are among six entities who are believed to have shown interest in the "expression of interest" stake sale process of the debt-ridden Jet Airways, sources said.
 
The development comes as lenders of the debt-ridden airline invited EoI for stake sale in the airline to recover their dues worth Rs 8,000 crore.
 
Sources said that TPG Capital, private equity firm KKR, Blackstone, Lufthansa, Singapore Airlines and Delta-Air France-KLM are among the companies approached by the lenders. 
 
When contacted, a Tata Group spokesperson said: "We don't comment on market speculation." 
 
As per the document issued by the State Bank of India (SBI), the lead lender in the consortium, it offered stake from 31.2 to 75 percent of the company on a fully diluted basis. 
 
However, it was not known whether ex-Chairman Naresh Goyal or major equity owner Etihad Airways would be selling their stake on a pro-rata basis.
 
The airline owes Rs 8,000 crore to lenders, led by the SBI. On March 25, Goyal had stepped down from the board of the airline and ceded majority control to the SBI-led consortium. 
 
The consortium of banks then appointed SBI Caps to take out the EoI and conduct the process of their stake sale in the airline. 
 
"The lenders, pursuant to the guidelines issued by the Reserve Bank of India, are in the process of formulation of a resolution plan for resolving stress in the company, inter alia, involving change in control and management of the company," the EOI document said. 
 
The purpose of the EoI is to provide information about the company to enable interested parties to make assessment about the proposal prior to the submission of their bids. 
 
The time period for submission of EoI is till 6 p.m. on April 10. 
 
Monday's development comes after lenders last week said that they intend to pursue the bank-led resolution plan for the airline under the present legal and regulatory framework. This came after the Supreme Court decided to annul a February 12, 2018 Reserve Bank of India (RBI) circular on bad debts.
 
The judgement was seen as a major setback for the resolution process. In a statement, the consortium said: "The lenders intend to pursue the bank-led resolution plan for sale of stake in the company in a time-bound manner under the present legal and regulatory framework and intend to invite expressions of interest." 
 
As per the lenders' statement, all efforts will be made for the stake sale and other options may be considered by them should these efforts not result in an acceptable outcome. 
 
The lenders did not divulge any information about the present funding needs of the airline. Jet Airway's former Chairman Goyal had earlier said he has cooperated fully and facilitated the bank-led resolution programme for the company.
 
On March 25, Goyal had stepped down from the board of the airline and ceded majority control to the SBI-led consortium.
 
Under the debt resolution plan, the lenders would inject up to Rs 1,500 crore working capital into the airline and convert their debt into equity, to revive the airline and then sell their stake in it.
 
The airline is hardpressed for funds and without further funding the airline's fleet size is expected to shrink further. It has alredy shrunk to 26. 
 
Jet has been struggling with cash flows for the past six months because of rising fuel costs and intense competition. It has even delayed payment to lessors, airport operators and oil marketing companies besides a part of its workforce to keep the company running. 
 
Recently, the airline informed employees that salaries for March will be delayed. Salaries are pending since January. On Monday, the company's scrip gained 3.14 per cent or Rs 8.05 to Rs 264.10.
 
IANS
 

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Surging oil prices, falling rupee dents markets

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Weak global cues over the delay in Brexit deal, uncertainty around the US-China trade tension along with rising crude oil prices dented investor sentiment on Monday. Sensex and Nify closed nearly 0.5 per cent lower.
 
Among other factors, said analysts, was the weakness in rupee which helped the export-oriented IT sector stocks close in the green. All other Nifty sectoral indices ended in the red.
 
The Sensex closed 161.70 points or 0.42 per cent lower at 38,700.53, while the Nifty ended 61.45 points or 0.53 per cent at 11,604.50 points.
 
"Domestic markets started this week on a weak note given the global cues on account of drag in the US-China trade deal and Brexit delays. Investors have turned cautious given the rise in oil prices and a sharp rally in the last couple of months leading to premium valuation of key indices," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Additionally, general elections and start of Q4 earnings season are also adding to investor turning the cautious. We may see some profit booking in the near-term given the sharp run-up in markets."
 
Besides the polling for General Elections, Q4 earnings result season will kick off from next week. IT major Tata Consultancy Services (TCS) is expected to come out with its Q4 result on April 12.
 
Apart from the Q4 results, investors will look out for the upcoming macro-economic data points such as the IIP (Index of Industrial Production) and CPI (Consumer Price Index).
 
On Monday, the rupee closed at 69.68-69, down 45 paise from the previous close of 69.22-23 per dollar.
 
In terms of investment, foreign institutional investors (FIIs) bought stocks worth Rs 329.60 crore while domestic institutional investors (DIIs) sold stocks to the tune of Rs 623.81 crore.
 
The top gainers on the BSE were Infosys, Mahindra & Mahindra, ONGC and NTPC, which advanced up to 2 per cent.
 
Yes Bank, Bajaj Finance, Vedanta, Tata Motors and Tata Motors (DVR) slid in the range of 2-3 per cent.
 
IANS
 

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Sensex ends lower on surging crude prices

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Weak global cues over the delay in Brexit deal, uncertainty around the US-China trade tension along with rising crude oil prices dented investor sentiment on Monday. Sensex and Nify closed nearly 0.5 per cent lower.
 
Among other factors, said analysts, was the weakness in rupee which helped the export-oriented IT sector stocks close in the green. All other Nifty sectoral indices ended in the red.
 
The Sensex closed 161.70 points or 0.42 per cent lower at 38,700.53, while the Nifty ended 61.45 points or 0.53 per cent at 11,604.50 points.
 
"Domestic markets started this week on a weak note given the global cues on account of drag in the US-China trade deal and Brexit delays. Investors have turned cautious given the rise in oil prices and a sharp rally in the last couple of months leading to premium valuation of key indices," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Additionally, general elections and start of Q4 earnings season are also adding to investor turning the cautious. We may see some profit booking in the near-term given the sharp run-up in markets."
 
The top gainers on the BSE were Infosys, Mahindra & Mahindra, ONGC and NTPC, which advanced up to 2 per cent.
 
Yes Bank, Bajaj Finance, Vedanta, Tata Motors and Tata Motors (DVR) slid in the range of 2-3 per cent.
 
IANS

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Sensex opens higher, energy stocks down

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Key equity indices opened higher on Monday. Sensex traded just shy of the 39,000 mark after opening at over 100 points higher.
 
Except for oil and gas, energy index, all the sectoral stocks on the BSE traded in the green.
 
The Sensex of the BSE opened at 38,993.60 from its previous close at 38,862.23 on Friday.
 
At 9.27 a.m., the Sensex traded at 38,959.11 up 96.88 points or 0.25 per cent.
 
The Nifty of the National Stock Exchange (NSE) opened at 11,704.35 after closing at 11,665.95 on Friday.
 
The Nifty traded at 11,686.80 during the morning trade session, up 20.85 points and 0.18 per cent.
 
Foreign Institutional Investors bought stocks worth Rs 797.90 crore on Friday while Domestic Institutional Investors sold scrips worth Rs 325.58 crore.
 
IANS

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Alzarri Joseph's 6/12 helps Mumbai to 40-run win over Hyderabad

Despite a batting failure, Alzarri Joseph's sensational six-wicket haul guided Mumbai Indians to a massive 40-run victory over Sunrisers Hyderabad in their Indian Premier League (IPL) contest here on Saturday.
 
Joseph (6/12), the 22-year-old Caribbean, not only helped Mumbai win, but he also rewrote the record books after registering the best ever bowling figures in the league's history. 
 
Defending a paltry total of 137, debutant Joseph was the key architect behind Mumbai's exceptional win as the pacer shattered the Hyderabad batting line-up which fell like a pack of cards.
 
The other Mumbai bowlers -- Rahul Chahar (2/21), Jasprit Bumrah (1/16) and Jason Behrendorff (1/28) -- also impressed with some economical spells. 
 
Chasing the target, the hosts got off to a decent start with their scorecard reading 27 for no loss in the initial three overs. However, Rahul Chahar started the proceedings for Mumbai after bagging the wicket of Jonny Bairstow (16 off 10) before David Warner (15 off 13) became a victim of Joseph with just just 33 runs on board.
 
Joseph then packed back Vijay Shankar (5 off 10) while Behrendorff accounted for the wicket of Manish Pandey (16 off 21), putting the hosts in deep trouble.
 
Chahar made the situation worse for Hyderabad when he dismissed incoming batsman Yusuf Pathan, who departed without scoring, leaving the hosts reeling at 62/5. 
 
With half of the Hyderabad side back in the dug out, Deepak Hooda tried to put things back in control with his 24-ball 20. However, he couldn't succeed as Joseph sent him back before picking up the wicket of Rashid Khan, who failed to open his account.
 
With Hyderabad's score reading 88/7, Joseph utilised the opportunity to rock the hosts' lower order as he dismissed Mohammad Nabi (11), Bhuvneshwar Kumar (2) and Siddarth Kaul (0) in quick succession to help Mumbai register an emphatic victory.
 
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Earlier, some disciplined bowling by Hyderabad helped restrict Mumbai to a modest 136/7.
 
Mumbai kept on losing wickets at regular intervals as the Hyderabad bowlers not only kept on jolting the visitors, but also maintained a decent economy. 
 
It was Kieron Pollard (46* off 26, 4x2, 6x4) who once again showed some resistance down the order to propel his team past the 100-run mark.
 
Put in to bat first, Mumbai started slowly before Mohammad Nabi drew first blood by dismissing visiting skipper Rohit Sharma for 11. Sandeep Sharma soon delivered another blow by trapping Suryakumar Yadav plumb in front of the wicket.
 
With Mumbai reeling at 28/2, Quinton de Kock (19 off 18) and Ishan Kishan (17 off 21) tried to stabilise the innings. However, the two couldn't taste much success as de Kock was sent back by Kaul in the ninth over with the scoreboard reading 43/3.
 
Ishan and Krunal Pandya then added 20 runs in the next 2.2 overs before Kaul cut short Krunal's stay. The Mumbai all-rounder top-edged a short delivery that landed safely in the hands of wicketkeeper Jonny Bairstow.
 
Mumbai suffered another blow soon when Ishan was caught short of the crease while trying to steal a quick single.
 
The hosts kept on picking up wickets in quick succession as Hardik Pandya (14) and Chahar (10), too, departed soon with just 97 runs on board. However, Pollard's heroics in the last few overs helped the three-time champions reach a modest total.
 
For Hyderabad, Kaul scalped two wickets while Bhuvneshwar, Sandeep Sharma, Rashid and Mohammad Nabi picked up one wicket each. 
 
Brief scores: 
 
Mumbai Indians: 136/7 in 20 overs (Kieron Pollard 46 not out, Quinton de Kock 19; Siddharth Kaul 2/34) beat Sunrisers Hyderabad 96 all out in 17.4 overs (Deepak Hooda 20, Jonny Bairstow 16; Alzarri Joseph 6/12) by 40 runs.
 
IANS
 

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Disciplined Hyderabad restrict Mumbai to 136/7

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A disciplined bowling effort by Sunrisers Hyderabad helped restrict Mumbai Indians to a modest 136/7 in their Indian Premier League (IPL) clash at the Rajiv Gandhi International Stadium here on Saturday.
 
Mumbai kept on losing wickets at regular intervals as the Hyderabad bowlers not only kept on jolting the visitors, but also maintained a decent economy. 
 
It was Kieron Pollard (46* off 26, 4x2, 6x4) who once again showed some resistance down the order to propel his team past the 100-run mark.
 
Put in to bat first, Mumbai started slowly before Mohammad Nabi drew first blood by dismissing visiting skipper Rohit Sharma for 11. Sandeep Sharma soon delivered another blow by trapping Suryakumar Yadav plumb in front of the wicket.
 
With Mumbai reeling at 28/2, Quinton de Kock (19 off 18) and Ishan Kishan (17 off 21) tried to stabilise the innings. However, the two couldn't taste much success as de Kock was sent back by Siddarth Kaul in the ninth over with the scoreboard reading 43/3.
 
Ishan and Krunal Pandya then added 20 runs in the next 2.2 overs before Kaul cut short Krunal's stay. The Mumbai all-rounder top-edged a short delivery that landed safely in the hands of wicketkeeper Jonny Bairstow.
 
Mumbai suffered another blow soon when Ishan was caught short of the crease while trying to steal a quick single.
 
The hosts kept on picking wickets in quick succession as Hardik Pandya (14) and Rahul Chahar (10) too departed soon with just 97 runs on board. However, Pollard's heroics in the last few overs helped the three-time champions reach a modest total.
 
For Hyderabad, Kaul scalped two wickets while Bhuvneshwar Kumar, Sandeep Sharma, Rashid Khan and Mohammad Nabi picked up one wicket each. 
 
Brief scores: 
 
Mumbai Indians: 136/7 in 20 overs (Kieron Pollard 46 not out, Quinton de Kock 19; Siddharth Kaul 2/34) vs Sunrisers Hyderabad
 
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Hyderabad opt to field against Mumbai

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Sunrisers Hyderabad skipper Bhuvneshwar Kumar won the toss and opted to bowl against Mumbai Indians in the 19th Indian Premier League (IPL) contest at the Rajiv Gandhi International Stadium here on Saturday.
 
While the hosts remain unchanged, Mumbai made two changes in their side as Ishan Kishan and Alzarri Joseph replaced Yuvraj Singh and Lasith Malinga.
 
Mumbai is placed sixth in the points table with two wins from four games. On the other hand, Hyderabad is at the second spot after three wins from four games.
 
Playing XI
 
Mumbai Indians: Quinton de Kock (wicket-keeper), Rohit Sharma (Captain), Suryakumar Yadav, Ishan Kishan, Hardik Pandya, Kieron Pollard, Krunal Pandya, Jason Behrendorff, Rahul Chahar, Alzarri Joseph, Jasprit Bumrah
 
Sunrisers Hyderabad: David Warner, Jonny Bairstow (wicket-keeper), Vijay Shankar, Manish Pandey, Deepak Hooda, Yusuf Pathan, Mohammad Nabi, Rashid Khan, Bhuvneshwar Kumar (Captain), Sandeep Sharma, Siddarth Kaul
 
IANS
 

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