The Economic Times
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| 30 November, 2020, 04:11 PM IST | E-Paper

    Cyclone Nivar: Auto plants in Chennai shut as govt declares holiday

    The plants of Royal Enfield, Yamaha, Renault-Nissan and Daimler were shut on Wednesday after the Tamil Nadu government declared a public holiday. Ashok Leyland, Ford, Hyundai, TAFE and Apollo Tyres are some other automotive companies with their facilities in and around Chennai.

    Over 1 lakh evacuated from Tamil Nadu, Puducherry in view of cyclone Nivar: NDRF DG

    The National Disaster Response Force has earmarked a total of 50 teams -- with 30 being deployed on the ground in Tamil Nadu, Puducherry and Andhra Pradesh -- in view of the cyclone moving ahead from the Bay of Bengal towards the coastal areas.

    ‘Ban’ news dulls firecracker business this Deepavali

    On Friday, Yediyurappa announced that the state government will ban the use of firecrackers due to the Covid-19 pandemic, but an official press release from him later said green crackers were exempt from the ban. Sections of firework makers and traders said extensive publicity to the CM’s first statement on a cracker ban had left them in a spot.

    Tamil Nadu reports further decline in Covid-19 cases on Tuesday

    The State has consistently been showing a decline in cases over the last few weeks, providing some relief in the State which has been among the worst-affected in the country. Chennai reported under 700 new Covid-19 cases again on Tuesday with 669 people testing positive.

    Violin maestro TN Krishnan passes away at 92

    During his life, Krishnan received several honours including the Padma Bhushan, Padma Vibhushan and Sangeetha Kalanidhi.

    Mirror NOW wins big at News Television Awards 2020

    The channel’s investigation revealed crumbling health infrastructure across metros during the pandemic, and put a spotlight on the greedy “Covid vultures” trying to make money out of misery and charging exorbitant fees from patients.

    Tamil Nadu tests 93,844 people for Covid-19 in a single day

    The state witnessed 4462 new Covid-19 cases on Wednesday, a marginal drop from 4666 cases on Tuesday. This brings the total tally up to 670,392, the state media bulletin confirmed. The death toll in the state touched 10,423, with 52 more deaths being reported, the State media bulletin confirmed.

    Stocks in the news: IndusInd Bank, Vodafone Idea, Majesco, LVB, Relaxo, Mphasis and Prestige Estates

    Insurance technology firm Majesco has announced a share buyback plan of up to Rs 631.26 crore.

    Music legend SP Balasubrahmanyam passes away at 74

    After over a month-long battle at the Intensive Care Unit of MGM Healthcare Chennai, legendary singer SP Balasubrahmanyam passed away on Friday. The late musician's son SP Charan told the reporters that his 74-year-old father breathed his last at 1:04 pm today.Music legend SP Balasubrahmanyam passes away at 74

    Custodial deaths spark national ire, no FIR yet

    Condemnation of police for the deaths of P Jayaraj and his son J Beniks in judicial custody dominated social media and more complaints of police brutality against Covid curfew violators surfaced on Friday, but the state govt is yet to act against those responsible for the assault. No FIR has been registered against police, govt doctor, magistrate and jail personnel.

    Suresh Raina confirms attack on his family in Punjab, demands thorough probe

    Raina's uncle and cousin passed away after battling for life for days.

    Tamil Nadu CM Palaniswami writes to Modi, seeks aid to bail out Tangedco

    Closure of major industries and commercial establishments has resulted in about 30% fall in power consumption. Since they pay a higher tariff compared to domestic consumers, the resultant shortfall in revenue will be much more.

    Chennai Petroleum Q1 results: Clocks standalone net at Rs 271.63 crore

    The city-based group company of IndianOil had reported a standalone net loss at Rs 233.41 crore during the corresponding quarter of the previous financial year.

    Covid-19 positive cases in Tamil Nadu remain under 6,000-mark

    There has been a gradual and marginal decline in the number of cases over the last week. On Sunday, 5975 people had tested positive. The total number of cases in the state now stands at 385,352. The number of deaths reported too was the same as the number on Sunday with 97 more people succumbing to the infection.

    COVID-19 deaths under-reported in Chennai, officials admit; authorities to probe discrepancy

    A show-cause notice has been issued to hospitals after 236 COVID-19 deaths were not reported by the Tamil Nadu government. According to a report by TOI, at least 460 people succumbed to COVID-19 in Chennai till June 8 which is more than double the 224 announced by the directorate of public health (DPH). The matter came to light after the scrutiny of the city corporation death registry by the DPH when officials visited Ripon buildings on Tuesday.COVID-19 deaths under-reported in Chennai, officials admit; authorities to probe discrepancy

    Lockdown compliance in Chennai least in Tamil Nadu: IIT study

    The IIT-Madras team mapped the mobility data of Facebook users in every district in Tamil Nadu, and came up with an analysis on how lockdown compliance in Chennai was far less than in other districts.

    Chennai and three neighbouring districts to go into complete lockdown from June 19-30

    The govt arrived at this decision after the medical expert committee constituted by the state govt recommended that the govt should tighten certain lockdown relaxations given in Chennai.

    Chennai: New rule triggers spurt in small apartments

    Many residents across the city are making use of a change in floor space index rule to demolish their stand-alone houses and construct apartments, making better use of the space and earning more rent.

    Large establishments in Chennai's shopping district asked to down shutters

    Well-known textile names such as Saravana Stores, Nalli Silks, Kumaran Silks, Pothys, Chennai Silks in addition to popular jewellery brands like GRT, NAC Jewellers, Kalyan Jewellers, Joyalukkas, and so on have large establishments in the area.

    Tamil Nadu imposes complete lockdown in Madurai and neighbouring areas as state sees 2710 cases

    Even in these areas, shops to be open from 6 am to 2 pm and people will be allowed to buy essential items. However, there will be a complete lockdown in on Sunday.

    IPL 2020: Get ready for a desert storm as MI, CSK start the season with a blockbuster clash

    The good news for cricket fans and fans of T20 franchise cricket, in particular, is that the 13th edition of the IPL, albeit late, is being played after the BCCI managed to shift the whole tournament to the UAE. For the first time, only three venues will host as many as 60 matches. The evening matches will begin at 7:30 pm IST, while the afternoon matches will start at 3:30 pm.

    Congress MP Karti Chidambaram flays 'hero worship' of Rajiv Gandhi assassination convicts

    Tagging a clip of his interview to News18 Tamil Nadu channel on his Twitter handle, Karti regretted that the so- called pro-Tamil outfits- that support the release of the seven convicts- have never spoken about the victims.

    Participant in Serum Institute's Covid vaccine trial seeks Rs 5 crore compensation

    The legal notice to SII says the participant suffered a serious adverse event after being administered the under-trial vaccine, and is demanding financial compensation of Rs 5 crore. The legal notice also alleges that despite this, no public disclosure was made.

    Cyclone Nivar makes landfall, weakens into severe cyclonic storm

    Nivar weakened into a severe cyclonic storm after it crossed coast near Puducherry, the IMD said. Earlier, the IMD had said Nivar will cross coast near Puducherry with a wind speed of 120-130 kmph, gusting up to 145 kmph. The landfall of Nivar began late on Wednesday night.

    Nifty, Sensex near all-time highs: Four advisors on what mutual fund investors should do

    Mutual fund investors, especially equity investors, get very nervous every time the market touches or hovers around a historical peak. These numbers are psychologically-significant for many of them.

    Tidel Park in Chennai's Pattabiram to have ‘hanging garden’

    Software professionals who work in the upcoming Tidel Park at Pattabiram may relax with a cup of coffee in style in a garden that would offer a bird’s eye view of the sprawling western parts of the city. The IT park will have lush green environment not on the ground floor or on the terrace, but in the middle of the multi-storey building, which would be one of the tallest structures on Chennai-Tirupati high road.

    Tamil Nadu reports 817 coronavirus cases, highest single-day spike so far

    Tamil Nadu reported the highest ever spike in Covid-19 positive cases on Wednesday with 817 people testing positive. The state also reported six more deaths.

    Stock market update: 28 stocks hit 52-week lows on NSE

    However, UltraTech Cement, ITC, Indian Oil Corp, Sun Pharma and Shree Cements were among the top losers.

    Suresh Raina joins MS Dhoni in retirement, announces news through social media

    Raina will however continue to be an integral part of the Chennai Super Kings (CSK) franchise.

    Stock market update: 24 stocks hit 52-week lows on NSE

    However, Grasim Inds., NTPC, Shree Cements, Larsen & Toubro and Adani Ports SEZ were among the top losers.

    CPCL Q4 results: Standalone net loss at Rs 1,637.56 crore

    The city-based company has registered net loss at Rs 29.33 crore during corresponding quarter previous year.

    India Cements shares rally 10% on news of Damani takeover

    The company is yet to announce its financial results for the March quarter.

    You could soon order your favourite street food online through Swiggy

    To begin with, a pilot will be carried out involving 250 vendors across five cities — Ahmedabad, Chennai, Delhi, Indore and Varanasi — and this coverage will be expanded subsequently to other cities.

    Tamil Nadu walls up two border roads in Vellore to prevent influx of people from AP

    The move to construct the 3 feet high walls blocking the two border roads came at a time the total number of positive cases in Tamil Nadu moved to 1,885, with Vellore reporting 22 and neighbouring Chennai reporting more than 500 cases.

    Urban Tamil Nadu gets deserted, authorities focus on clean up work during complete shutdown

    While police patrol vehicles and flying squads of civic bodies alone could be seen in Chennai, Coimbatore, Madurai, Salem and Tirupur, people in some localities in north Chennai loitered around and police warned them to stay indoors. Also, regions close to Chennai and falling under Chengelpet, Kancheepuram, and Tiruvallur districts are fully shut today.

    COVID-19: Central teams rushed to visit Gujarat, Tamil Nadu, Telangana

    The home ministry has set up four more inter-ministerial central teams (IMCTs) for making an on-spot assessment of Covid-19 in Surat, Ahmedabad, Chennai and Hyderabad, while the team deputed for Mumbai and Pune has been asked to visit Thane.

    TN government announces intensified measures to stem COVID-19 spread

    In the event of medical workers in private hospitals contracting the virus, the Health department protocols in this regard will be duly followed, and all preventive measures will be put in place and medical services will be later allowed to resume there

    Seven women killed after explosion at fireworks unit in Cuddalore district

    Shortly after news broke about the accident on Friday afternoon, Chief Minister Edappadi promised a solatium of Rs 2 lakh each to the families of the deceased.

    Two more ESG schemes hit the market; should you invest in ESG theme?

    Mirae Asset ESG Sector Leaders ETF closes for subscription on November 10, and Quant ESG Equity Fund closes for subscription on October 30.

    Fund in Focus: Should you stop investing in Franklin India Taxshield?

    We have been getting queries from its readers about the lacklustrure performance of Franklin India Taxshield Fund. Possibly triggered by the shutting down of six debt schemes by the fund house in April, anxious investors are tracking their their investments in the conservative tax-saving scheme closely.

    Stocks in the news: Tata Motors, RIL, Lakshmi Vilas Bank, HPCL, IndiGo and JK Tyre

    The housing finance arm of Canara Bankreported a 35.84 per cent rise in its net profit to Rs 90.91 crore for the March 2020 quarter

    Freshworks buys ML & AI provider AnsweriQ

    It’s a season of mergers and acquisitions in the startup space as established players venture out for new buys.

    Tamil Nadu announces relaxations that will come into effect as State breaches 90,000 cases

    While no activity will continue to be permitted within any of the 'Containment Zones (CZ)' in the state including greater Chennai and neighbouring districts, already permitted trade, including groceries and vegetable shops, commercial and industrial activities would be allowed to resume, as long as social distancing and other norms are followed.

    Stocks in the news: HDFC Life, RIL, DLF, Adani Enterprises, Aurobindo Pharma and JSPL

    PNB Gilts, Igarashi Motors and TD Power are among a few companies which will announce their march quarter earnings today.

    Phase 1 of EV charging grid set-up to be completed by the end of the year, says Ather Energy

    In all, the company targets to install 6,500 charging points across the country by 2022. The Hero MotoCorp-backed firm currently has 150 fast charging stations pan-India, including 37 in Bengaluru and 13 in Chennai.

    Stocks in the news: Vodafone Idea, Oberoi Realty, Emami, YES Bank and SBI

    Promoters of Vodafone Idea may infuse around $1.5 billion into the telecom operator.

    Stocks in the news: RIL, JSW Energy, Bajaj Finserv, Strides Pharma, Bajaj Auto and Jubilant Foodworks

    Here are a few stocks which may create some buzz in Thursday’s trade.

    Modi-Xi meet: Wuhan spirit to Chennai connect

    Mamallapuram was largely spectacle summitry, but Modi and Xi’s strategic communication is deepening.

    Dont get swayed by speculative reports, says Sanjay Sapre of Franklin Templeton MF

    In a note titled `An Update on Winding-up of 6 Fixed Income Schemes,' Sapre udated the unitholders that Karanataka High Court has completed the hearing the arguments on the winding up of six debt schemes. He also clarified on the First Information Report filed by Economic Offence Wing.

    View: Providing a new impetus to the India-Russia Strategic Partnership

    Rhetoric should be translated into reality in the bilateral relations between the two countries. In this regard, Russia should move out from the Chinese orbit and augment its relations with India on an “equal footing” for ushering an equitable world order. This can provide a new impetus to the India-Russia relations.

    Chennai-based man wins BMW 750Li xDrive in Dubai raffle

    The winning ticket was drawn by Novak Djokovic.

    Stadiums set to reopen but don’t expect any sporting activity soon

    With most of the athletes forced to stay indoors for the past two months due to the nationwide restrictions on outdoor activities, their training patterns got disturbed and they had to make do with improvised workouts that were insufficient for the needs of international athletes.

    ​Will your multi cap scheme become ESG fund? If so, what should you do?

    Mutual fund advisors believe that even though ESG has been applauded globally, the theme cannot replace multi cap schemes. Since the theme is new to Indian markets, there are not many options to invest.

    National Fertilizers, 2 others list commercial papers on BSE

    Commercial paper is an unsecured money market instrument issued in the form of promissory notes.

    CSK elect to bowl against MI in IPL opener, no Abu Dhabi quarantine as Curran picked

    With Sam Curran included in the playing XI after arriving here on September 17, it means there is no separate quarantine for players coming from the UK.

    Stock market update: 35 stocks hit 52-week lows on NSE

    Among the stocks that touched their 52-week lows were Chennai Petroleum and Deccan Cements.

    MakeMyTrip announces foray into UAE

    The new market entry will be led by an engaging marketing campaign in India and the UAE as MakeMyTrip partners with Royal Challengers Bangalore (RCB), Mumbai Indians (MI) and Chennai Super Kings (CSK), the company said in a statement.

    Amazon sets up all-women delivery station in Gujarat

    In 2016, the company had launched its first all-women delivery station in India, with its partner in Chennai, Tamil Nadu, it added.

    Lakshmi Vilas Bank surges 10% as merger talks with Clix Capital on track

    "We wish to inform that the mutual due diligence is substantially complete, and the parties are in discussions on the next steps. The bank will continue to share any further information as and when they materialise," the bank told BSE.

    Sell Chennai Petroleum Corporation, target Rs 220: Kunal Bothra

    Sell Chennai Petroleum Corporation Ltd. at a price target of Rs 220.0 and a stoploss at Rs 235 from entry point.

    Tamil Nadu government releases new norms for mandatory quarantine and testing of travellers

    Thermal screening is mandatory for people coming from other States and Union Territories by air, rail or road and for those coming from other countries by air or ship.

    Stocks in the news: IndusInd Bank, RITES, NBCC, Voda Idea, HUL and Titan Company

    Unilever said India business growth will be “soft” because of the rural slump.

    Covid a big problem for big Indian cities

    In the last fortnight, many cities have reported acceleration in cases, explaining the national surge.

    Stocks in the news: Lumax Auto, TVS Motor, Vodafone Idea, NTPC and JSW Steel

    CCI approved NTPC's acquisition of the central government's 100 per cent stake in NEEPCO.

    DMK MLA Anbazhagan passes away on his birthday due to coronavirus

    The 62-year-old Anbazhagan undergoing treatment at the private hospital Dr. Rela Institute & Medical Centre here was in a critical condition.

    Are investors shifting from gold funds to gold ETFs?

    One thing that catches the eye is that investors have been betting more on gold ETFs than gold funds. Mutual fund participants say the shift is indeed happening and offer a variety of reasons for it.

    Stocks in the news: YES Bank, IRCTC, DMart, Chalet Hotels, GIC Re and Vodafone Idea

    Nestle India, BPCL and Lemon Tree are among a few companies which will report their quarterly results today.

    Rajinikanth’s reluctance to follow through on his promises make it hard to take him seriously

    His fiery tone, trademark gesticulations and lectern-thumping all added up to this: he was not going to be his non-existent party’s chief ministerial face in the Tamil Nadu assembly polls in 2021, and, what’s worse, he wouldn’t say when this party would be launched.

    Chennai techie uses Nasa images to find Vikram lander debris, gets credit from US agency

    A Chennai techie, Shanmuga Subramanian, used lunar images from Nasa's Moon's Lunar Reconnaissance Orbiter captured on different dates and studied them for weeks to locate the debris of the lander. He wrote to Nasa informing about his findings. In a tweet later, Nasa confirmed the news and released images of impact site on moon surface.

    Apple supplier Salcomp buys Nokia’s Chennai factory, once a Make in India poster child

    The factory is expected to generate employment for close to 10,000 people, besides a $2-bn export boost.

    Buy Chennai Petroleum Corporation; target Rs 303: Kunal Bothra

    Buy Chennai Petroleum Corporation at a price target of Rs 303 and a stoploss at Rs 282.

    Stocks in the news: Coffee Day, UltraTech Cement, Sterling & Wilson, JSW Steel and SpiceJet

    Punjab National Bank (PNB) has scrapped its plan to sell shares in its mortgage lending subsidiary PNB Housing Finance.

    Fear, distance and weakening demand grips the economy, keeps migrants away

    An industry representative said that on one hand, casual workers in some areas are desperate enough to work at wages lower than that six months ago, while on the other, absenteeism is on the rise among those holding down regular jobs.

    Stocks in the news: ZEEL, Thomas Cook, CG Power, HDFC and Aurobindo Pharma

    CCI has approved the restructuring of Apollo Hospitals Enterprise's pharmacy business

    Mutual funds face first monthly withdrawals in four years

    ​​Equity mutual funds in India may witness their first monthly net outflows in more than four years as investors continue to cash out to tide over the pandemic-related credit crunch, while others hold off adding more in a rising stock market.

    Wendt India records consolidated PAT at Rs 41 lakh

    The company, part of the diversified conglomerate Murugappa Group had reported Rs 3.59 crore during corresponding quarter previous year.

    Stocks in the news: Sun Pharma, DHFL, Equitas Holdings, SBI and Varun Beverages

    RBI has taken action against Equitas Small Finance Bank for failing to meet deadline for getting shares listed.

    Tube Investments Q1 results: Reports standalone net loss at Rs 58.95 crore

    The city-based Murugappa Group company had recorded standalone net profit at Rs 88.45 crore during corresponding quarter previous year.

    AR Rahman, Sunidhi Chauhan & 'Dil Bechara' musicians pay tribute to Sushant S Rajput

    ​​In a 13 minute-long video, the musical team of the film came together to offer their tributes.

    Stocks in the news: YES Bank, Reliance Infra, IDBI Bank, DHFL and KEC International

    KEC International said it has bagged orders worth Rs 1,520 crore across various business verticals.

    India's annual power demand seen falling for first time in almost four decades: Moody's unit

    Power usage has fallen by almost a quarter since Prime Minister Narendra Modi enforced a nationwide lockdown starting March 25, forcing all industries except those deemed essential to shut down.

    NSE-backed CAMS gets Sebi nod to float IPO

    The IPO will see sale of 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust.

    Looking for safe debt funds? Here are 34 schemes for you

    Most mutual fund advisors have been asking their hassled clients to stick to overnight funds, liquid funds, corporate bond funds, and banking & PSU funds. If the investors is extremely cautious, they have been asking them to stick to overnight funds and liquid funds.

    Housejoy plans to raise $35 mn for expansion of construction, interiors biz

    The fund is required for new technology and brand awareness. The company aims to complete fund raising exercise by December.

    With India under lockdown, Google Maps & Mapmyindia shift focus to combat Covid-19

    Contact tracing is one of the most important solutions sought to battle the ongoing pandemic and web mapping firms in India are leveraging their technology and tweaking their features to bring similar solutions to fight Covid-19.

    Bengaluru taps its HAM community to tackle Covid-19 spread

    Known informally as HAM radio operators, these hobbyists use wireless radio sets and antennas - both static as well as mobile -- to interact with fellow HAM users across the world, a technique developed over a century ago.

    Are investors losing faith in mutual funds?

    Mutual fund advisors and financial planners believe that profit booking is not the only reason for the sharp fall in mutual fund net inflows in June.

    Shriram Transport Finance okays rights issue to promoters for Rs 1,500 crore

    The issue has been fixed at Rs 570 per share, including premium of Rs 560 per rights equity share.

    HDFC Mutual Fund proposes to roll over close-ended fund by 18 months

    HDFC Mutual Fund plans to rollover HDFC Equity Opportunities Fund – Series 2, a close-ended fund launched in May 2017 with a tenure of 1126 days, by another 18 months.

    Debt fund fiasco starts hurting Franklin Templeton MF; AAUM falls sharply in April-June quarter

    Apart from debt schemes, Investors also seem to be pulling money out even from the equity schemes managed by the fund house. Equity AAUM also suffers because of market movements.

    Stocks in the news: SBI Life, Vadilal Industries, Prestige Estates, Airtel and Vodafone Idea

    Tata Steel plans to cut jobs across its European operations as it wrestles with excess supply.

    Telangana in dilemma over fresh lockdown, city denizens rush to villages

    Holding a high-level review on rising Coronavirus spread last Sunday, chief minister K Chandrasekhar Rao had hinted at imposing fresh lockdown in Hyderabad for 15 days with stricter curfew conditions, which includes shutting down flights and trains.

    Biocon lines up $200 million capex for current fiscal

    The company's capital expenditure during 2019-20 stood at Rs 974.2 crore, Mittal said.

    Murugappa Group eyes CG Power, ready to invest Rs 750 crore

    The transaction is likely to conclude in July, they said.

    Emami Realty Q4 results: Posts Rs 19 crore net loss

    It also announced elevation of Nitesh Kumar Gupta as MD & CEO of the company.

    LPG prices hiked for second consecutive month

    Non-subsidised cooking gas LPG rates were increased by Re 1 to Rs 594 per 14.2-kg cylinder in the national capital. Prices were up by Rs 4 in other metros mostly because of different local sales tax or VAT rate.

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