Business

Equity indices dip on foreign outflows, IT sell-off, and weak US cues-Telangana Today

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The BSE Sensex dropped 156.72 points to 77,423.59 in early trade, while the NSE Nifty fell 64.25 points to 23,468.45. Key laggards from the 30-share Sensex included Infosys, Tech Mahindra, HCL Technologies, TCS, NTPC, Axis Bank, Tata Motors, and IndusInd Bank.






Published Date – 18 November 2024, 11:30 AM


Equity indices dip on foreign outflows, IT sell-off, and weak US cues


Mumbai: Equity benchmark indices declined in early trade on Monday, owing to relentless foreign fund outflows, selling in IT stocks and weak leads from the US markets.

The BSE benchmark Sensex declined 156.72 points to 77,423.59 in early trade. The NSE Nifty dipped 64.25 points to 23,468.45.

From the 30-share Sensex pack, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, NTPC, Axis Bank, Tata Motors and IndusInd Bank were the major laggards.

HDFC Bank, Tata Steel, Bajaj Finance and Asian Paints were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,849.87 crore on Thursday, according to exchange data.

Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields.

With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far.

Equity markets were closed on Friday for Guru Nanak Jayanti.

“Even though Nifty has corrected 10.4 per cent from the peak there are no signs of a sustained recovery in the market. Relentless FII selling, earnings downgrades for majority of stocks for FY25, and the consequences of the Trump trade are weighing on the market,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Seoul, Shanghai and Hong Kong traded higher while Tokyo quoted lower.

The US markets ended lower on Friday.

“Weak leads from Wall Street and rising US bond yields add to the anxiety,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global oil benchmark Brent crude climbed 0.51 per cent to USD 71.40 a barrel.

The BSE benchmark Sensex dropped 110.64 points or 0.14 per cent to settle at 77,580.31 on Thursday. The Nifty declined by 26.35 points or 0.11 per cent to 23,532.70.

Top News

Thalapathy Vijay’s son Jason Sanjay gears up for directorial debut

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Though details of the cast and crew are yet to be known, the makers unveiled a special video announcing the project.

Published Date – 30 November 2024, 03:46 PM


Thalapathy Vijay’s son Jason Sanjay gears up for directorial debut



Thalapathy Vijay’s son Jason Sanjay gears up for directorial debut




Hyderabad: Tamil superstar Thalapathy Vijay‘s son Jason Sanjay is all set to make his directorial debut in Kollywood, putting an end to speculations about his acting debut. Earlier, there were rumors that he might be a part of the Tamil remake of the Telugu hit Uppena, but those plans have been put on the backburner.

Actor Sundeep Kishan is set to star in the directorial debut of Jason Sanjay. Thaman has been roped in to compose the film’s music, and the production is backed by Lyca Productions. Though details of the cast and crew are yet to be known, the makers unveiled a special video announcing the project.

On the professional front, Sundeep Kishan was last seen in Raayan, with Dhanush. Mazaka and SK31 along with JasonSanjay01 are to be released in 2025.

Hyderabad

Asaduddin Owaisi calls on Telangana to unite: ‘Caste Census’ will shape welfare for all

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“The data collected by the officials will aid the government in planning and implementing welfare schemes for the entire population of the State,” he stated. He emphasized that the survey is not limited to the poor but is intended for all residents of Telangana. “Using the information gathered through this census, the government aims to uplift and empower the poor and the destitute,” Owaisi added.






Updated On – 30 November 2024, 03:54 PM


Asaduddin Owaisi calls on Telangana to unite: ‘Caste Census’ will shape welfare for all


Hyderabad: All India Majlis –e – Ittehadul Muslimeen, president and Hyderabad MP, Asaduddin Owaisi urged the people to participate in the on-going ‘caste census’ being taken up in the State. “The data gathered by the officials will help the government in planning and implementing welfare schemes for the people of the State,” he said.

He clarified that the survey is not meant only for the poor people but for the whole Telangana people. “With the help of the data collected through the census, the government will try to empower the poor and the destitute,” said Owaisi.

On Saturday, a team of officials visited his residence and took down the details of his family as part of the census program. Asaduddin Owaisi said people living in gated communities and apartment buildings should call on the enumerators and make arrangements for the conduct of the program.

World

Iran, E3 agreed to continue diplomatic talks

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“Another round of candid discussions with PDs of Fr, Ger and UK,” Gharibabadi wrote on his X account on Friday.

“We discussed and took stock of recent bilateral, regional and international developments, particularly nuclear and sanctions-lifting issues,” he added.

“We are firmly committed to pursuing the interests of our people, and our preference is the path of dialogue and engagement,” he noted.

“It was agreed to continue diplomatic dialogue in near future,” he stated.

The meeting of the deputy foreign Ministers of Iran, France, Germany, and the UK was held on Friday to discuss bilateral, regional, and international issues.

The JCPOA was signed in 2015 between Iran and the five permanent members of the UN Security Council and Germany. Former US President Donald Trump illegally pulled out of the deal in 2018 while the current US President, Joe Biden, has signaled that he is ready to resurrect the agreement.

Russia, the UK, Germany, China, the US, and France have been in talks with Iran since April 2021 to reinstate the deal.

The talks to salvage the JCPOA kicked off in the Austrian capital of Vienna in April 2021, with the intention of examining Washington’s seriousness in rejoining the deal and removing anti-Iran sanctions.

The negotiations have been at a standstill since August due to Washington’s insistence on its hard-nosed position of not removing all the sanctions that were slapped on the Islamic Republic by the previous US administration. Iran maintains it is necessary for the other side to offer some guarantees that it will remain committed to any agreement that is reached.

MP/IRN

Middle East

Hostilities continue to put Palestinians at risk in Gaza

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Xhinua reported, citing Commissioner-General Philippe Lazzarini of the UN relief agency for Palestinians, known as UNRWA, on Friday that the ongoing military operation in the north has uprooted 130,000 people over the past seven weeks.

In northern Gaza, including Gaza City, a critical shortage of cooking gas has forced families to rely on burning waste for fuel, which raises the risk of respiratory infections at a time when healthcare services are minimal, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA).

The World Food Programme (WFP) reported that as the hunger crisis worsens, prices of basic food items have surged by over 1,000 percent compared to pre-hostility levels.

The agency said that it is critical that bakeries remain open and that the flow of essential supplies for them — including wheat and fuel — is sustained.

UN humanitarian partners reported there is also a critical shortage of adequate shelter for hundreds of thousands of people displaced by the hostilities across Gaza. Less than a quarter of shelter needs in the Gaza Strip have been met, leaving nearly 1 million people at risk of exposure to harsh conditions as winter nears.

AMK/PR

Sports

Telangana swimmer D Varshith wins silver at SGFI National Championship

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In the boys’ U-17 400m individual medley, D Varshith from Telangana claimed the silver medal with a time of 4:47.78. Kerala’s Theerdu Samadev Mongam took gold with a time of 4:42.62, while Prithviraj Menon from CISCE earned the bronze with a time of 4:50.68.

Updated On – 27 November 2024, 07:47 PM


Telangana swimmer D Varshith wins silver at SGFI National Championship


Hyderabad: Telangana swimmer D Varshith clinched the silver medal in the 68th SGFI National Swimming Championship held in Rajkot, Gujarat, on Wednesday.

In the boys’ U-17 400m individual medley, the State athlete secured second place with a timing of 4:47.78. Kerala’s Theerdu Samadev Mongam (4:42.62) won gold, while CISCE’s Prithviraj Menon (4:50.68) settled for bronze.

Results: 400m individual Medley boys U-17: 1. Theerdu Samadev Mongam (Kerala) (4:42.62s),2. D Varshith (Telangana) (04:47.78s), 3. Prithviraj Menon (CISCE) (04:50.68s).

Business

Is work from home beneficial for Indian companies?-Telangana Today

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The study, titled “Work-from-Home: Benefits and Costs: an Exploratory Study in the Indian Context”, stated that Covid has given rise to many alternative systems, and work from home is a prominent outcome altering the employment ecosystem

Published Date – 18 November 2024, 02:10 PM


Is work from home beneficial for Indian companies?

Representational Image

New Delhi: The ability to hire employees from spatially-dispersed locations may help to promote more balanced geographical development, in addition to alleviating pressures of various kinds on major metropolitan areas in India, according to a study by apex business chamber CII and the Faculty of Management Studies (FMS), Delhi, on Monday.

The study, titled “Work-from-Home: Benefits and Costs: an Exploratory Study in the Indian Context”, stated that Covid has given rise to many alternative systems, and work from home is a prominent outcome altering the employment ecosystem.

Since then, many organisations have adopted remote and hybrid work practices. The study found that the new model has led to moderate savings in office rental costs and enabled a moderate reduction in costs involved in meeting and working with clients.

“The savings in employee commuting and accommodation costs have allowed for adjustments in employee compensation structures to a limited extent,” the findings showed.

There is significant reduction in commuting stress for employees leading to greater energy levels. However, the study also found that working from home has led to less effective communication and that remote working is detrimental to teamwork.

It suggests that remote working could hinder the development and sustenance of organisational culture. As far as the costs and benefits for employees are concerned, respondents were of the view that remote working is particularly beneficial for parents with young children and for caregivers.

A moderate increase in employee productivity has also been observed. However, some respondents have reported difficulty in separating work and personal life, leading to increased stress, the study pointed out.

Many employees also lack dedicated, undisturbed workspaces at home. Besides, flexibility in scheduling can be considerably problematic for those unable to maintain self-discipline.

The study further observed that traditional supervision methods such as attendance monitoring have become less effective. Remote working has led to a shift towards performance-based monitoring in a major way.

Furthermore, with remote working, increased reliance on trust has become necessary to ensure employee performance. On the macro environment front, the study suggested that remote working has led to significant reduction in the company’s carbon footprint and could held organizations meet ESG (environment, social and governance) goals.

“While work-from-home confers tangible benefits for both employers and employees in the short term, it may, however, lead to some losses in the long run. These losses may be intangible in nature, relating to the formation and sustenance of social, emotional, and human capital,” the study noted.

Top News

Maduro says Palestine ‘most just cause’, Israel behind Aleppo attack

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Venezuelan President Nicolas Maduro has reiterated his country’s commitment to supporting the Palestinian cause, calling it the “most just cause for humanity.”

Speaking at the International Conference in Solidarity with Palestine on Friday in Caracas, Maduro stated, “If you look at the reasons for the struggles since the last century to create a just world, the Palestinian cause is the most just cause for humanity.”

The significance of the date coincides with the International Day of Solidarity with the Palestinian People, which was established by the UN General Assembly in 1977 and is observed annually on November 29. This date marks the anniversary of the 1947 resolution that proposed the partition of Palestine.

In a resolution passed on December 1, 2005, the General Assembly requested that the Committee on the Exercise of the Inalienable Rights of the Palestinian People and the Division for Palestinian Rights organize annual exhibits or cultural events celebrating Palestinian rights, in collaboration with the Permanent Observer Mission of Palestine to the UN.

Maduro emphasized the importance of the Palestinian cause, which he stated holds a “central place” among humanitarian struggles advocating for independence, peace, and a fair state. “Palestine is the cause that unites humanity,” he added.

“We will continue to support the Palestinian cause in the strongest ways,” Maduro said, asserting, “The day will come when we will meet in the streets of Al-Quds as victors.”

The Venezuelan president also cautioned against complacency with regard to the Israeli regime.

“Notice how the Zionists signed the agreement and then turned to Syria, launching attacks through the terrorist groups they sponsor, which are now attempting to take control of Aleppo,” he said.

“The Zionists and their supporters aim to invade, crush the Arab people, and seize the wealth of the Arab nations,” he noted.

Hyderabad

Telangana: ED attaches assests worth Rs 5.3 crore of private medical colleges under PMLA

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Directorate of Enforcement (ED), Hyderabad Zonal Office has provisionally attached assets worth Rs 5.34 crore, belonging to private medical colleges under the provisions of the Prevention of Money Laundering Act (PMLA), in connection with a case of cheating by private medical colleges by indulging in blocking of seats for PG medical admissions.

Published Date – 29 November 2024, 11:47 PM


Telangana: ED attaches assests worth Rs 5.3 crore of private medical colleges under PMLA


Hyderabad: Directorate of Enforcement (ED), Hyderabad Zonal Office has provisionally attached assets worth Rs 5.34 crore, belonging to private medical colleges under the provisions of the Prevention of Money Laundering Act (PMLA), in connection with a case of cheating by private medical colleges by indulging in blocking of seats for PG medical admissions.

ED initiated investigation on the basis of FIR registered by the Matwada Police Station, Warangal, filed on the basis of complaint of Registrar, Kaloji Narayana Rao University of Health Sciences (KNRUHS) alleging that candidature of certain students with high NEET PG ranks were being used to block seats for PG Medical admissions under the Management Quota.

In response to warning of legal action given by KNRUHS to such suspected seat blockers, some candidates claimed they had not applied for registration under the Management Quota at KNRUHS.

ED investigation revealed that some private medical colleges, in active collusion with consultants and middlemen, were engaged in seat blocking using the certificates of high-ranking students.

The blocked seats would be retained until the mop-up round last phase of counselling and later the students were shown as exited and the penalty imposed by the University for exit at the last stage was paid.

Investigation has revealed such penalty was arranged for by the private medical colleges themselves and were paid either directly through the college’s bank accounts or through middlemen. Such seats, shown as vacated, would be intimated by the colleges to the University and would be declared as stray vacancies.

The stray vacancies were then released by the KNRUHS to the respective colleges to be filled up on their own akin to institutional quota seats and the fees charged for such stray vacancies could be upto three times that of the regular fees for MQ1 management quota category.

ED investigation revealed that the private medical colleges were charging additional fee up to three times and, in some cases, were also collecting capitation fee in the form of cash over and above the inflated fee.

The excess fees and capitation fee so collected by the colleges over and above the regular MQ1 category fees against deliberately blocked seats are the Proceeds of Crime (POC) in this case.

The assets attached by ED are in the form of bank balances in the bank accounts of Chalmeda Ananda Rao Institute of Medical Sciences (Rs. 3.33 Crore) and MNR Medical College (Rs. 2.01 Crore). In case of Malla Reddy Institute of Medical Sciences, ED had earlier seized unaccounted cash worth Rs. 1.475 Crore and had frozen bank balance worth Rs. 2.89 Crore.

So far, the total value of seized or attached assets in this case stands at Rs. 9.71 crore. Further investigation is under progress.

World

Nuclear arms race with Russia, China will come at cost for US

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“Throughout the 1990s and 2000s, [the US] had been engaged in everything, but the development and production of [nuclear] munitions. And, accordingly, to resume the process now is a very, very difficult task, which they are accomplishing at huge costs and with a significant disruption of deadlines,” Dmitry Stefanovich tells Sputnik.

By contrast, Russia and China never stopped developing their respective nuclear and strategic missiles programs, he continues. If the US starts a nuclear race in earnest, the Russians and Chinese would be capable of immediately ramping up production, the pundit explains.

The potential arms race would put a burden on the US economy, according to the expert.

“[The US] already needs to build new [nuclear] weapons anyway and try to extend the service life of the old ones. And, in general, this is quite a difficult task. And already in the medium term, continuing to build up or even maintaining the expanded arsenal will require huge resources,” Stefanovich points out.

On November 29, Sputnik reviewed a report by the Russian think tank Roscongress Foundation that warned that the pace of US nuclear weapons modernization is accelerating, meaning Washington has de facto launched an arms race against Russia and China.

RHM/