Investors become poorer by Rs 4.6 lakh crore as stocks crash

Agencies
February 3, 2018

New Delhi, Feb 3: Investors wealth was on Friday eroded by Rs 4.6 lakh crore amid massive selling in the stock market where the BSE benchmark index plummeted 840 points.

The 30-share Sensex crashed 839.91 points, or 2.34 per cent, to end the day at 35,066.75.

Following the sharp decline in stocks, the market capitalisation of BSE-listed companies tumbled Rs 4,58,581.38 crore to Rs 148,54,452 crore.

This is the biggest single day fall of the index since August 24, 2015, when it had fallen by 1,624.51 points.

The Budget for 2018-19 imposed long-term capital gains tax of 10 per cent on equities.

"The major part of today's correction can be attributed to the budget announcement of imposition of long term capital gains tax on equity, introduction of tax on distributed income by equity oriented mutual funds and fiscal slippage. The move surprised the Street as most participants were factoring in a change in definition of Long Term to two or three years from a year," said Devang Mehta, Head - Equity Advisory, Centrum Wealth Management.

Among the 30-share basket, 27 stocks ended with losses led by Bajaj Auto and Bharti Airtel.

All the sectoral indices on BSE ended in the red led by realty and infrastructure.

On the BSE, 2,527 stocks declined, while 310 advanced and 124 remained unchanged.

"Sensex and Nifty saw heavy selling post budget day. Investors were disappointed with LTCG coming in over and above STT. However, budget is aimed at spurring demand from rural India and masses going forward to take care of India growth story. Execution and implementation will be the key ahead," said Anita Gandhi, Whole Time Director, Arihant Capital Markets.

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Agencies
February 20,2020

New Delhi, Feb 20: Hitting out at the Bharatiya Janata Party (BJP), Congress leader Sachin Sawant on Thursday said that the same BJP who tried to pressurise government lawyers so that the accused in the Malegaon bomb blast case, Samjhauta express case can be let off are now demanding that there should be a re-investigation in the 26/11 terror attacks, this is the biggest irony.

"By demanding that the case be re-investigated the BJP which gave a ticket to Pragya Thakur who was accused in the Malegaon blast case, has insulted all those brave police, the army who fought bravely. BJP should apologise to all those people," he said.

"If the BJP were serious about re-investigating the case why didn't they do it when they were in power in the state and the Centre? Was the government sleeping for the last five years? asked Maharashtra Congress committee's general secretary, Sachin Sawant.

"Rather than this, the BJP should ask for a fair inquiry in the incident where a Kashmir police officer Davindar Singh was caught in the company of terrorists and also, the role of the Sangh Parivar in the Malegaon Blasts," said Sawant.

Sawant said that BJP has crossed all limits while lying and it has stooped to the lowest levels of political discourse and is not thinking twice before defaming the Opposition.

In the book written by the retired police officer Rakesh Maria doesn't have anything other than what was there in the charge sheet on Ajmal Kasab. In his confession, Kasab has said that he was given an ID card with a Hindu name and also a red coloured thread by the Lashkar-e-taiba.

Because of this forged identity, they would be able to dodge the police. All these details have been clearly mentioned in the Kasab's confession.

Maria has mentioned in his book that if Kasab was not caught alive, the media would have declared him as a Hindu. Maria hasn't said that there was any kind of government pressure or any other conspiracy behind it. He was only talking about the media and also given all the details in the charge sheet. The BJP is only using this as a political tool in their low-class politics.

The leader added that, "The letter written by BJP MLA Atul Bhatkhalkar to CM Uddhav Thackeray has crossed all limits of lying. The Congress government in Maharashtra had formed a committee under retired home secretary Ram Pradhan to probe the 26/11 attack."

On the basis of an interview given by Ram Pradhan to a national daily on the 10th anniversary of the 26/11, he has levelled baseless allegations on former Central Home minister P Chidambaram, he added.

Bhatkhalkar in his letter has said that Chidambaram had asked Ram Pradhan to not to disclose the local connection that was found in the conspiracy. In fact, there is no such mention in the interview given by Ram Pradhan. Pradhan has said in the interview that Chidambaram wanted to see the report. Hence along with the report, some sensitive information was sent to the department separately and those were overlooked. After some time news related to David Headley had surfaced.

Ram Pradhan committee was not set up by the Centre but was set up by the state government and so it was not mandatory for the Centre to inform Ram Pradhan whether cognisance was taken regarding the sensitive information.

"In was during the Congress government that the first terrorist was caught alive due to the bravery of the police force and after following all the due procedures a verdict to hang him was given," said Sawant..

"Everyone has appreciated India's legal system in which even a terrorist was allowed to give his side," he added.

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News Network
June 5,2020

Jun 5: Meerut Police on Thursday claimed that around 13,500 mobile phones in the country are running on the same IMEI, the number used to identify the device.

A case of fraud has been registered against the mobile phone manufacturing company and its service center, the police said.

The matter surfaced, after police personnel gave his mobile phone to the staff at cybercrime cell for examination, as the new phone was not working properly despite being repaired, Meerut SP (city) Akhilesh N Singh said.

The cyber cell found that around 13,500 other mobile phones are also running on the same International Mobile Equipment Identity (IMEI) as that of the police personnel's phone, the superintendent of police said.

He said the matter is a serious security issue.

Prima facie it appears to be negligence on part of the mobile phone company and criminals can use it to their advantage, Singh said.

He said a case has been registered under relevant sections of the law at a Medical police station and a team of experts has been called to look into the matter.

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Agencies
April 24,2020

New Delhi, Apr 24: Congress leader Rahul Gandhi has termed the government decision to freeze Dearness Allowance of Central government employees for a year as "insensitive and inhuman."

The former Congress President in a tweet said: "Lakhs and crores are being spent on the Bullet Train and New Delhi's Central Vista which should have been suspended, but the government has deducted DA of Central government employees and pensioners... It is insensitive and inhuman."

"The tragic part is that by deducting this amount from January 1, 2020 up to 30th June, 2021 for a period of 1.5 years, the government of India proceeds to deduct almost Rs 38 thousand crore from the income of these middle class government employees and pensioners, who rely completely on the pay and pensions that they receive," said Randeep Surjewala, chief spokesperson of Congress.

There are about 50 lakh such serving government employees and about 62 lakh pensioners.

"Even more tragic and objectionable is the fact that the government of India has not even spared our armed forces. The government has deducted Rs 11 thousand crore of the 15 lakh serving armed forces personnel and nearly 26 lakh military pensioners. What is their fault? They are serving the nation in times of all types of crises," said Surjewala.

The Congress alleged that the government did not spare the savings scheme.

Instead of curbing the wasteful expenditure, the government has been constantly hitting at the income of government employees and the middle class, it added.

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