After a gap of over one and a half years, Sri Lankan Airlines on Friday resumed its direct flight service from Hyderabad to Colombo.
The flights will operate twice a week – Monday and Friday.
The aircraft took off at 9.55 a.m. with 120 passengers from Hyderabad to Colombo amidst much fanfare at the airport. Senior officials from GMR Hyderabad International Airport Ltd and Sri Lankan Airlines, along with other airport stakeholders were present.
“Sri Lanka is one of the highly sought-after tourist destinations among Indian travelers of all ages. This nonstop route connecting to Hyderabad and Colombo will bring travelers from Telangana and Andhra Pradesh closer to many beautiful destinations across Sri Lanka. We are delighted that Sri Lankan Airlines has extended its services to Hyderabad,” GHIAL CEO Pradeep Panicker said.
He hoped that the new flight will receive tremendous acceptance from the people of South India. GMR Hyderabad International Airport continues to explore new international routes and we look forward to connecting many more exciting destinations soon, he added.
“Andhra Pradesh and Telangana are key markets for Sri Lanka and Sri Lankan Airlines is looking forward for further expansion in terms frequencies or capacity out of Telangana when passenger demand expected to grow,” Sri Lankan Airlines Regional Manager, India, Bangladesh and Nepal, V. Ravindran said.
Sri Lanka is a traveler’s paradise. One of the favorite countries for Indian visitors, it has lush tea plantations and waterfalls, tropical beaches, jaw-dropping wildlife, historical monuments, and temples to name a few. It’s a dream destination for honeymoon seekers, couples, adventure sports lovers, and families alike.
A gateway to south and central India, Hyderabad is a preferred and largest transit hub, offering convenient proximity for passengers originating from the nearby cities, viz. Vijayawada, Vishakhapatnam, Nagpur, Bhubaneswar, Rajahmundry, Bhopal, and Tirupati.
LIC Mutual Fund’s large & mid cap funds offer 12.49% CAGR since inception
The large and mid cap funds of LIC Mutual Funds has offered 12.49 per cent compound annual growth return since its inception in February 2015.
As on July 31, 2022, the compounded annual growth returns performance of LIC MF large and mid cap fund under regular (G) option, for different periods — 5 years, 3 years and 1 year — stood at 11.44 per cent, 18.83 per cent and 9.16 per cent, respectively.
The funds have Rs 1.17 lakh crore of net assets under management as on July 31, 2022.
While LIC MF large and mid cap funds AUM stood at Rs 1,831.26 crore.
Banks (15.62 per cent), IT & Software (9.67 per cent), Chemicals & Petrochemicals (8.81 per cent), Consumer Durables (8.69 per cent), and Industrial products (7.38 per cent) are among the top 5 sectors in the fund house’s Large and Mid cap fund category.
In the Gulf, workers and diplomats join hands to celebrate India’s Independence Day
Thousands of Non-Resident Indians (NRIs) across the Gulf on Monday proudly celebrated India’s Independence Day, amid the unfurling of the tricolour and distribution of sweets.
The commemoration of Independence Day and flag hoisting is customary at Indian missions. However, the display of tricolour has assumed special significance this year as it has docked with the viral ‘Har Ghar Tiranga’ campaign.
Numerous patriotic Indian workers engaged at different work sites have celebrated the event by cutting cakes and distributing sweets. In early morning hours several NRIs thronged to Indian missions by leaving their work aside to commemorate Independence Day and singing to the tune of the national anthem.
In the United Arab Emirates (UAE) where the largest number of Indian nationals live and work, Ambassador Sunjay Sudhir led the celebrations by hoisting the Indian tricolour at the Indian Embassy in Abu Dhabi. He paid floral tribute at the bust of Mahatma Gandhi.
Sudhir pointed out that under the visionary leadership of Indian Prime Minister Narendra Modi, the tricolour has gained further respect globally. He added: “Today, wearing the tricolour, or flashing the Indian passport, evokes respect for Indians.”
Sudhir read out excerpts from the speech made by Indian President Droupadi Murmu.
The tricolour was also unfurled by the Consul General of India in Dubai by Aman Puri, at the Indian Consulate in Dubai.
The event marked with zeal as part of ‘Har Ghar Tiranga’ with a variety of programmes in Dubai despite adverse weather conditions. In the Dubai ‘Marina a Yacht’ that displayed the tricolour was conspicuous. In Sharjah, blue collar workers participated in an exclusive event held by the Indian Association.
In Saudi Arabia, which houses the second highest number of Indians, Indians celebrated Independence Day with enthusiasm and joy, with DCM N. Ram Prasad hoisting the national flag and paying floral tributes to the father of the nation.
The Indian employees working in a key infrastructure project in Ras Al Khair, seashore town, among others celebrated Indian Independence Day by cutting a cake and distributing sweets.
“Though away from home, we took part in ‘Har Ghar Tiranga’ ,” said Riyadh-based Ch. Shiva Reddy, hailing from Hyderabad.
In Jeddah, Consul General Md. Shahid Alam hoisted the national flag. Enthusiastic celebrations were also held in Kuwait, Qatar, Bahrain and Oman.
(Irfan Mohammed is a Jeddah-based journalist. Views expressed are personal and exclusive to India Narrative)
(The content is being carried under an arrangement with indianarrative.com)
Equity AUM of mutual funds rises more than 10% on-month in July
After declining for two consecutive months, equity assets under management (AUM) of domestic mutual funds rose 10.3 per cent month-on-month to Rs 15.2 lakh crore in July as market rebounded after three months of decline, according to a Motilal Oswal report.
The month saw a decline of sales of equity schemes by 14.3 per cent on-month to Rs 304 billion and the pace of redemptions picked up to Rs 148 billion, up 16 per cent on-month. Consequently, net inflows slowed to Rs 157 billion in the July from Rs 228 billion in the previous month.
The Nifty, after three consecutive months of decline, bounced back smartly in July with 8.7 per cent on-month gain, the highest since December 2020. The Nifty Midcap 100 outperformed the markets during the month. FIIs registered inflows of $0.8 billion in July after nine months of outflows totaling $33.3 billion; YTD’CY22 outflows stood at $25.4 billion.
Meanwhile, total AUM for the mutual fund industry increased to Rs 37.7 trillion, up 5.9 per cent on-month in July. This was because of a rise in AUM for equities worth Rs 1,412 billion, other ETFs worth Rs 380 billion, balanced worth Rs 210 billion, and income worth Rs 179 billion funds.
Contributions in systematic investment plans (SIPs) remained strong at Rs 121.4 billion in July, an eleventh consecutive month of Rs 100 billion plus investment in the category.
The month saw notable changes in the sector and stock allocation of funds.
On a month-on-month basis, the weights of NBFCs, Private Banks, Consumer, Retail, Automobiles, Capital Goods, PSU Banks, Metals, Cement, and Media increased, while the weights of Oil & Gas, Technology, Telecom, Healthcare, and Utilities moderated.
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