Rain continues to wreak havoc across coastal Karnataka

June 19, 2012

Mangalore, June 19: Dozens of families were rendered homeless across coastal Karnataka as heavy rains and flash floods have continued to wreak havoc in various parts of Dakshina Kannada, Udupi and Uttara Kannada districts.

Several houses were damaged in last 24 hours of rain in Dakshina Kannada. Three families on the banks of Gurupur River were shifted to safer place after their house was partially damaged due to sudden gush of water in the river following the collapse of a the retanining wall of a vented dam in Maravoor on the outskirts of Mangalore.

The sudden gush of water of an overflowing drain in Urwa Stores in the city on Tuesday morning demolished a compound a compound wall causing heavy loss.

A house was partially collapsed in Pachanady village in Mangalore taluk. Two people inside the house miraculously escaped unhurt when the roof of the house suddenly collapsed. The house owner Yogendra said that he suffered a loss of Rs 60,000.

In Udupi district at least two persons were injured and seven houses were damaged and a banana plantation was completely destroyed because of rain and winds since Monday.

According to information provided by the Udupi Taluk Office, Sheena Poojary, son of Manjayya Poojary, was injured when a wire from an electric pole fell on his feet at Chitapady in Saligrama village. He was admitted to a private hospital in Manipal.

The heavy rains also affected power supply in Padubidri. Mescom personnel were seen repairing the lining at different places to set the situation right.

Since the four-laning work is at progress, houses located close to the road were inundated. Residents of Yermal, Muloor, Uchila, Kaup, Pangala, Hejamady, Katapadi area were put to lot of inconvenience due to the incomplete road work.

A house belonging to Shaba Beary was damaged because of rains in Tenka and the loss had been estimated at Rs. 14,000. As many as 110 banana plants belonging to Rama Poojary were destroyed because of strong winds and rain at Shiriyar village. The damage was estimated at Rs. 15,000.

According to the information provided by Kundapur Taluk Office, a house belonging to Babu Mogaveera was damaged when a tree fell on it. The loss had been estimated at Rs. 50,000.

The tiles of the house belonging to Saroja Devadiga got blown away because of winds accompanied with rain at Koteshwara village. The loss had been estimated at Rs. 5,000.

Another house in the same village belonging to Kamala Poojarti was partially damaged and the loss was estimated at Rs. 5,000.

A well belonging to Siddik Moideen in Kumbashi village rains and the damage had been estimated at Rs. 25,000.

A storm that hit Ankola taluk of Uttara Kannada district caused huge damage to the public and private properties.

Belambar, Vandige, Nadibaag, Janata Colony in Hosagadde, Vandige, Alageri village bore the brunt of the storm. Several buildings, including the KSRTC bus depot, were severely damaged and many trees overturned in the incident.

Panic-stricken people came out of the houses and ran helter skelter fearing earthquake as trees had started falling.

About five houses collapsed and the roof of about a dozen more were blown away. More than 40 trees, including coconut and mango trees, fell. Twelve electricity poles crashed, the taluk administration sources said.

A house each at Ankola, Vandige, Hosagadde, Nadibaag, and Alageri villages were destroyed.

The anganwadi building in Janata Colony was also damaged. The food material meant for the children stored in the anganwadi was washed away.

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News Network
May 9,2020

Mangaluru, May 9: Dakshina Kannada District Collector Sindhu B Roopesh on Friday held a meeting to discuss the precautionary measures to be taken to prevent the spread of COVID-19 and the current situation in the district.

The meeting was attended by Member of Parliament and Karnakata BJP unit chief Nalin Kumar Kateel, Minister-in-charge of Dakshina Kannada Kota Srinivasa Poojary, MLA Vedavas Kamath and District Medical Officer Dr Ramachandra Bauri among others were present there.

Top officials of the police department, labour department officials and other concerned persons were also present in the meeting.

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News Network
June 25,2020

Bengaluru, Jun 25: A total of 442 new cases of COVID-19 were reported in Karnataka on Thursday taking the total count of cases in the state to 10,560.

According to the State Health Department, there are 3,716 active cases and 6,670 patients have been discharged after treatment. Six more deaths have been reported in the last 24 hours, taking the death toll to 170.

India's COVID-19 count reached 4,73,105 on Thursday with the highest single-day spike of 16,922 cases in the last 24 hours.

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Agencies
June 26,2020

New Delhi, Jun 26: With looming uncertainty and no likelihood of an early economic recovery in sight, the bull run in gold prices is here to stay. Analysts expect domestic futures to touch ₹ 52,000 per 10 grams in the next few months, till Diwali.

Experts also predict that with the current trend, gold may reach historic levels around ₹ 65,000 per 10 grams in two years time.

Futures of the yellow metal have touched new highs in India off late. On Wednesday, the August contract of gold futures on the Multi-Commodity Exchange (MCX) touched an all-time high of Rs 48,589 per 10 grams.

It has, however corrected since and is currently trading at ₹ 48,057 on the MCX, higher by ₹ 116 or 0.24 per cent from its previous close.

Market experts are of the view that both domestic and international gold prices are yet not done breaching records and will touch new highs in days to come.

The resurgence in the number of new cases of coronavirus infection across the globe has added to the uncertainty and fears.

Speaking to media persons, Anuj Gupta, DVP for Commodities and Currencies Research at Angel Broking, noted: "In short term we are expecting it to reach ₹ 48,800-49,000 and for long term, we are expecting ₹ 51,000-Rs 52,000 till Diwali."

On the prices in the international market, he said that it may reach around $1,790 per ounce in the near term from the current levels of $1,762 and the long term, it is likely to be around $1,820-1,850 per ounce.

Gupta noted that with International Monetary Fund's (IMF) latest downward revision of economic outlook, both global and of India, and the rising number of cases and high demand by gold exchange traded funds (ETF) have led to this record breaking rise in gold prices.

Covid-19 battered India's economy is projected to contract by 4.5 per cent this fiscal, according to the IMF and the global output is projected to decline by 4.9 per cent in 2020, 1.9 percentage points below the IMF's April forecast.

Hareesh V, Head of Commodity Research at Geojit Financial Services, said that gold's safe haven appeal will remain on the higher side as there is little hope of a quick global economic recovery amid rising virus cases across the world.

"Increased geopolitical instability and an under-performing dollar also lift the metal's sentiments," he added.

According to Prathamesh Mallya, AVP Research, Non-Agro Commodities & Currencies at Angel Broking, said that with the global output to contract and the economies in a deeper recession than most anticipate, gold as an asset class is a safe bet for investors across the globe.

"Although, the physical demand has declined drastically due to the restrictions and lockdowns, the activity of global central banks and their net purchases of gold signal that uncertainty will continue for most of 2020," he said.

He was also of the view that in the international market price of the metal may move towards $1,850 per ounce and in the domestic market it is likely to move higher towards Rs 50,000 per 10 grams.

"The investment demand as seen in the net additions of ETF holdings also signals that gold will shine for a much longer time even if the pandemic is under control. Till then, keep buying gold, if not in physical form, but in digital form," Mallya added.

Industry insiders like Aditya Pethe, Director, WHP Jewellers said: "I basically feel that the current trend for the gold is bullish and for the coming next 2 years, it is likely to move upwards. No one can predict the exact price as currently the trend is on rise but it might change after 6 months. In general for the coming 6 months to one year, the gold prices are likely to cross $2,000 which comes to roughly Rs 55,000. For a temporary moment it may reduce, basically fluctuate as well but overall trend of gold is going to be bullish."

On his part, Ishu Datwani, Founder, Anmol Jewellers said: "Yes - it's very likely that the gold price could easily go up to Rs 60,000-Rs 65,000 in the next two years. There is also a possibility of it going up even more."

"A lot of banks have been buying gold and there is also a possibility that the Indian rupee will depreciate against the dollar. This and geopolitical reasons will cause bullishness in gold."

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