National
Fading ‘Omicron’ concerns lift equity indices; auto stocks rise
The Indian equity indices — S&P BSE Sensex and NSE Nifty50 — rose marginally higher on Thursday as investors’ concerns over the new Covid-19 variant faded.
However, the day’s trade was marred by volatility as the key indices opened lower due to profit booking. Nevertheless, they rose later on.
Sector-wise, auto, FMCG, metal, media stocks among others rose. During the session, ITC, L&T, Asian Paints, UPL, and Britannia stocks were some of the top gainers. Shares of these listed companies closed higher by 4.9 per cent, 3.01 per cent, 2.2 per cent, 1.9 per cent, and 1.5 per cent on Thursday, respectively.
Consequently, the S&P BSE Sensex closed at 58,807.13 points, up 0.27 per cent from its previous close.
The broader 50-scrip Nifty at the National Stock Exchange (NSE) ended the day’s trade at 17,516 points, up 0.27 per cent.
“Domestic indices surrendered to profit booking in the early session but later gained ground owing to positive global sentiments. Investors are keenly awaiting the US inflation data in order to gauge the Fed’s decision on rolling back economic stimulus,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Easing fears over the Omicron variant continue to temper optimism in the markets. “
According to Mohit Nigam, Head – PMS at Hem Securities: “The RBI monetary policy on Wednesday continues to push for growth while keeping an eye on price stability and with this important announcement, Indian markets may look to global markets in the near term for the next movement.”
“Global markets seem to be on an upswing, as Covid fears dissipate.”
Business
Wagh Bakri Director Parag Desai, Injured In Attack By Stray Dogs, Dies Due To Brain Haemorrhage At 49
Parag Desai, executive director at Gujarat Tea Processors and Packers, which is known for its brand Wagh Bakri passed away on October 22, a week after he was injured in an accident.
Desai was admitted to Shelby Hospital on October 15 after he slipped outside his residence trying to fight street dogs that attacked him. He suffered severe head injuries during the fall that led to brain haemorrhage.
A security guard informed the family member of the incident after which he was rushed to the hospital. After a day of observation at Shelby Hospital, Desai was moved to Zydus Hospital for a surgical procedure.
However, he passed away on Sunday due to brain haemorrhage.
Gujarat Congress Chief and Rajya Sabha Member Shaktisinh Gohil offered his condolences through a social media post. He said, “Very sad news coming in. Parag Desai, Director and owner Wagh Bakri Tea passed away. He had a brain haemorrhage following a fall. May his soul rest in peace. My condolences to the entire Wagh Bakri family across India.”
He was the son of Rasesh Desai, the Managing Director of the Wagh Bakri Tea Group. Desai is survived by his wife and daughter Vidisha and Parisha.
Deasi who led the Group’s transformation into Tea lounges and e-commerce has completed his MBA from Long Island University in the US. He was an expert tea taster and evaluator and through his career has spearheaded the sales, marketing and export department for the group.
Business
Adani Group Reacts To Allegations Against Mahua Moitra; Reiterates Groups Working To Harm Company
Adani Group in a statement on Monday in a statement talking about a complaint against Trinamool Congress MP Mahua Moitra resinstates that there are some groups and individuals working against the company to tarnish its reputation.
The statement comes after Supreme Court lawyer Jai Anant Dehadrai filed a complaint with the CBI in the form of a sworn affidavit on Sunday against MP Mahua Moitra and Darshan Hiranandani, CEO of Hiranandani group for targeting Adani Group through parliamentary questions.
The complaint by Jain Anant Dehadrai further states that Moitra received bribes and undue favours from Hiranandani.
The company in its official statement reiterated that there are groups working against the company. The company said,”This development corroborates our statement of 9 October, 2023 that some groups and individuals have been working overtime to harm our name, goodwill and market standing. In this particular case, the lawyers complaint reveals that this arrangement to besmirch the reputation and interests of the Adani Group and our Chairman Mr. Gautam Adani has been in place since 2018.”
Nishikant Dubey Demands an inquiry
Post the complaint Bharatiya Janata Party (BJP) MP Nishikant Dubey wrote a letter to Union IT Minister Ashwini Vaishnaw and Union Minister of State (MoS) IT Rajeev Chandra Shekhar making “cash for query” allegations against Trinamool Congress MP Mahua Moitra and demanding an inquiry committee against her.
This comes a day after Dubey wrote a letter to the Lok Sabha Speaker over the same matter, demanding the formation of an enquiry committee against the TMC MP. He has also sought Moitra’s suspension from the House.
Hiranandani denies allegations
However, Hiranandani group has denied the allegation. A spokesperson from the Hiranandani Group said, “We have always been in the business of business and not in the business of politics. Our group has always worked with the government in the interest of the nation and will continue doing so.
National
UP: CCTV Footage Shows Drunk Rail Staffer Busy On Video Call, Places Bag On MEMU Throttle Causing Collision At Mathura Platform; 5 Suspended
UP: A joint report in the Tuesday Mathura train incident, in which an electric multiple unit (EMU) train broke the buffer dead end and entered platform number 2, has found that the staffer was watching his mobile phone while handling the train and was mildly drunk, sources have said.
The report, according to the sources, while narrating the prima facie reason of the incident, said that according to the Crew Voice & Video Recording System (CVVRS), after the train arrived at the platform, a staffer named Sachin entered the DTC cab (engine) while watching his mobile phone.
It said that while carelessly putting his bag on the throttle of the engine, he again got busy on his mobile.
Drunk Employee Puts Bag On Train’s Throttle
The throttle, due to the pressure of the bag, went into forward position and let the EMU move towards the platform. “It broke the dead end of the platform and half of the coach climbed onto the elevated portion of platform number 2, leading to breakdown of OHE (overhead wire).” The report also said that a breathalyzer test conducted on Sachin showed a reading of 47 mg/100 ml which is considered to be mildly drunk.
“He has been sent for a medical test in which his blood sample will be taken to find out the exact level of alcohol consumption,” a source from the Agra Railway Division, said.
Divisional Railway Manager Tej Prakash Agrawal has suspended five persons including Sachin in connection with the incident. Of the other four, Harbhajan Singh, Brajesh Kumar, and Kuljeet are technical staff and Govid Hari Sharma is a loco pilot.
“We have suspended five persons and further detailed investigation is on,” Agarwal said.
In one of its observations, the joint report said that generally technicians receive the DTC cab (engine) key, however, in this case, the technician sent Sachin to receive the key.
Details On The Incident
Giving the brief history of the incident, the report said that the train arrived at Mathura station at 10.49 pm. After the loco pilot got relieved from his duty and came out of the cab, Sachin entered the cab to take the keys. Within a minute of his entering the cab, it started moving, broke the dead end and half of its portion climbed onto the platform.
Sachin in a written statement said that as per the instruction of his duty in-charge, he asked for the key of the cab from the loco pilot who told him that it was inside the cab.
According to his statement, when he entered the cab and put his bag inside there, the train started moving on its own. He said that he got scared and by the time he applied the emergency brake, it had entered the platform.
He said that he informed his in-charge about it and when he tried to find out the reason why the train started moving, he found that the throttle was in forward position and key was also in position.
Blame Game Over Collision
In his statement, he blamed the loco pilot for keeping the train functions in “switched on” position. However, the loco pilot in his statement said that he had handed over the key to Sachin before the latter entered the cab.
The joint report has mentioned Sachin as ETL staff whereas in his statement, Sachin has mentioned his designation as helper.
The EMU starts from Delhi and covers various local stations before terminating in Mathura. The platform number 2 starts from the train’s terminating point where a buffer dead end has been created.
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