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Avenue Supermarts hits over two-month low; stock down 8% in a week
Posted on 11th December 2019

Shares of Avenue Supermarts, owner of the DMart brand, were trading lower for the fifth straight day and dipped 2 per cent at Rs 1,701 on Wednesday to hit 12-week low on the BSE. The stock was trading at its lowest level since September 20, 2019. In past one week, it has fallen 8 per cent, as compared to 1 per cent decline in the S&P BSE Sensex.

According to a Bloomberg report, Bank of America Corp and Kotak Mahindra Capital Co are among banks Indian billionaire Radhakishan Damani has picked for another planned stake sale in Avenue Supermarts.

Alstom to double manufacturing capacity in India, increase staff to 8,000
Posted on 11th December 2019
French trainset and related systems manufacturer Alstom is planning to double its manufacturing capacity in SriCity, in Andhra Pradesh, to 480 train sets per annum in near future. The company will be increasing its headcount from current 5,000 people to 8,000 by March 2023, said Alain Spohr, MD, Alstom, India & South Asia.

CSB Bank trades lower for fifth straight day, down 16% since listing
Posted on 11th December 2019

Shares of the recently listed CSB Bank slipped for the fifth straight day, down 3 per cent at Rs 251 on the BSE on Wednesday, after a strong debut. The stock of the private sector bank has fallen 16 per cent since it's listing on December 4, 2019. In comparison, the benchmark S&P BSE Sensex was down 1 per cent during the week.

The Kerala-based bank soared 54 per cent during its stock market debut at Rs 300.4, over its issue price of Rs 195. The stellar listing followed the hugely successful initial public offering (IPO) backed by Canadian billionaire Prem Watsa's Fairfax.

Justice Nanavati-Mehta Commission gives clean chit to Narendra Modi in 2002 Gujarat riots
Posted on 11th December 2019

The Gujarat government has tabled the final part of the Justice Nanavati-Mehta Commission report on the 2002 riots, in the Assembly on Wednesday. The report deals with post-Godhra violence in which more than 1,000 people were killed in the widespread communal riots across the State.

The Commission has given clean chit to the then Chief Minister Narendra Modi and others in post-Godhara riots. The Commission held that the riots were not organised and the State administration had taken all necessary measures to control the situation.

Some oppn parties speaking language of Pakistan on Citizenship Amendment Bill, says PM Modi
Posted on 11th December 2019

Ahead of the discussions on the Citizenship Amendment Bill, 2019 in the Rajya Sabha today, BJP held its Parliamentary party meeting which was also attended by Prime Minister Narendra Modi among other key leaders.

Speaking at the parliamentary party meeting, PM Modi said that the opposition parties are speaking the same language as Pakistan on the Citizenship Amendment Bill.

Delhi air quality continues to deteriorate, AQI borders 'severe' levels
Posted on 11th December 2019

The air quality in the national capital on Wednesday morning bordered severe levels and remained in the very poor category for the eighth consecutive day.

The air quality index (AQI) in the city was recorded at 399 at 8.41 am.

Indian Army gets US made Sig Sauer assault rifles to fight terrorists in J&K
Posted on 11th December 2019

In order to take on terror operations against terrorists in the valley and Line of Control (LoC), the Indian Army is now getting new American assault rifles. The Indian Army has started getting the first batch of 10,000 Sig Sauer assault rifles for counter-terrorist operations in J&K.

India has placed orders for 72,400 rifles under fast track procedures to equip its frontline soldiers with more capable guns. The first of rifles have arrived in India and has been dispatched to the Northern Command.

Unable to find itself a decent suitor, YES Bank needs an arranged match
Posted on 11th December 2019
YES Bank Ltd's latest $2 billion rescue plan was perfect except for one minor detail: Most suitors for the beleaguered Indian lender aren't the kind the board can really take to meet the regulator for tea. Yet in a five-hour meeting Tuesday, the directors decided to do exactly that. Jane Austen would have been proud of their desperation to marry off YES.

Mumbai: 2 men arrested for stealing onions worth Rs 21,160; netizens react hilariously
Posted on 11th December 2019

Onion prices are skyrocketing and the staple food has crossed the mark of Rs 100 in most of the states.

As the onion prices are going higher & higher with each passing day, Police have arrested two men for stealing onions worth Rs 21,160 from two shops in the Dongri area of Mumbai.

As reported by news agency ANI, the theft happened a week ago but the arrests were made on Tuesday.

SBI under-reported its FY19 NPAs by Rs 11,932 crore, find RBI auditors
Posted on 11th December 2019

Reserve Bank of India (RBI) auditors have found that the country's largest bank, State Bank of India (SBI), under-reported its non-performing assets (NPAs) for 2018-19 by Rs 11,932 crore, and made Rs 12,036 crore less provisions. As a result, the bank's reported profit of Rs 862 crore for the fiscal year now stands at a loss of Rs 6,968 crore.

However, the bank's stock did not react much, falling only 1.04 per cent to close at Rs 313.45 on the BSE, as the bank subsequently made good much of this gap through upgrade or recovery, as well as by additional provisioning.

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