Three of top-10 companies lose Rs 1 lakh cr in m-cap; TCS hit hard

Agencies
October 14, 2018

New Delhi, Oct 14: Three of the 10 most valued Indian companies together witnessed an erosion of Rs 1,07,026.12 crore in market capitalisation last week, with IT major TCS taking the biggest knock.

Tata Consultancy Services (TCS), ITC and Infosys suffered a decline in their valuation for the week ended Friday, whereas RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India finished with gains.

The cumulative erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore made by the rest of the seven firms.

The valuation of TCS nosedived by Rs 85,330.17 crore to Rs 7,19,857.48 crore.

Shares of TCS Friday ended over 3 per cent lower even as the company reported a 22.6 per cent jump in consolidated net profit for the July-September quarter.

The m-cap of Infosys slumped Rs 18,696.68 crore to Rs 2,96,635.05 crore and that of ITC fell by Rs 2,999.27 crore to Rs 3,36,285.40 crore.

From the gainers side, Reliance Industries Ltd (RIL) emerged as the biggest winner as its market cap soared by Rs 48,524.59 crore to Rs 7,13,965.75 crore.

Kotak Mahindra Bank's valuation jumped Rs 22,130.78 crore to Rs 2,23,005.06 crore and that of Maruti surged Rs 11,782.63 crore to Rs 2,20,006.42 crore.

The m-cap of State Bank of India (SBI) zoomed Rs 4,953.14 crore to Rs 2,35,029.01 crore and that of HDFC Bank rose by Rs 4,388.24 crore to Rs 5,37,729.17 crore.

HDFC added Rs 3,727.52 crore to reach Rs 2,94,247.71 crore in market valuation and HUL gained Rs 1,991.48 crore to Rs 3,39,557.66 crore.

Over the last week, the Sensex climbed 366.59 points to close at 34,733.58 on Friday.

In the ranking of the top-10 firms, TCS was at the number one position, followed by RIL, HDFC Bank, HUL, ITC, Infosys, HDFC, SBI, Kotak Mahindra Bank and Maruti.

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News Network
January 31,2020

Jan 31: Twenty-three children aged between six months and 15 years, who had been taken hostage by a murder accused after inviting them to his daughter's birthday party, were rescued late on Thursday night after police killed their captor in a village here.

The hostage drama began at Kasaria village in the afternoon and continued for about eight hours.

"The accused was killed and there were about 23 children who were rescued safely," Additional Chief Secretary (Home) Awanish Awasthi told reporters at a hurriedly called press conference at 1.20 am.

"The accused had invited the children for the birthday party of his daughter and held them hostage. It started about 5.45 pm on January 30 and continued for about eight hours," Director General of Police (DGP) O P Singh said, adding that in the entire operation they had tried to "engage" the accused and were successful.

He said the accused, identified as Subhash Batham, had initially released a six-month-old girl by handing her over to his neighbour from a balcony.

Eyewitnesses said a restive crowd gathered outside the house where the children were kept with some women wailing and praying for their safe release.

The crowd broke open the door of the house to rescue the children, they said.

As the accused opened fire, the police retaliated killing him on the spot.

In the exchange of fire, the captor's wife was injured, but none of the children suffered any injury.

A man and two policemen also suffered bullet injuries.

The motive of the accused was not known immediately.

Chief Minister Yogi Adityanath monitored the situation in Farrukhabad, which is nearly 200 km from state capital Lucknow.

"The CM as soon as he got to know about the incident called a meeting of the crisis management group and personally monitored the situation and ensured children are rescued safely," Awasthi said.

Earlier, a team of NSG (National Security Guard) commandos had taken a special aircraft to reach Farukhabad, a senior security official in Delhi said.

Police said Batham, a murder accused, seemed to be mentally unstable.

Inspector-General of Police, Kanpur Range, Mohit Agarwal, said, "The man called the children for a birthday party and held them hostage in the basement of the house. He fired six shots from inside the building."

Batham initially wanted to talk to the local MLA, but refused to speak to the leader when he arrived, Agarwal said.

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News Network
February 18,2020

New Delhi, Feb 18: A Delhi court today sent Sharjeel Imam, who has been named as an "instigator" by the Delhi Police in its chargesheet on violent protests against the amended citizenship act at New Friends Colony near Jamia in Delhi last year, to judicial custody till March 3.

Sharjeel Imam was arrested on sedition charges last month.

The Delhi Police has filed a chargesheet before Chief Metropolitan Magistrate Gurmohina Kaur, naming Sharjeel Imam as an instigator of the violence.

It said it has attached CCTV footage, call detail records and statements of over 100 witnesses as evidence in the chargesheet.

The court had on Monday sent Sharjeel Imam to one-day custody of Delhi Police in the case.

Protestors had torched four public buses and two police vehicles as they clashed with police in New Friends Colony near Jamia Millia Islamia in Delhi during the demonstration against the CAA on December 15, leaving nearly 60 people including students, cops and fire fighters injured.

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News Network
June 11,2020

The Indian National Congress is considering to move court seeking action against operation lotus,  after an audio clip in which Madhya Pradesh chief minister Shivraj Singh Chouhan can be heard saying that the Central leadership of Bharatiya Janata Party wanted the Kamal Nath government to fall went viral.

Mr Chouhan is also heard saying in the purported 9.28-minute long audio clip that it was not possible to pull down the Kamal Nath government without the help of Jyotiraditya Scindia and his loyalist, former Congress MLA Tulsi Silawat.

The Congress, which has all along maintained that the BJP had hatched a conspiracy to pull down the 15-month-old Kamal Nath government to “capture” power in MP, threatened legal action.

“I have been maintaining from the very beginning that there was a conspiracy to pull down my duly elected government… The audio has established that the BJP’s Central leadership had conspired to pull down my government even though it enjoyed majority,” former chief minister and Congress veteran Kamal Nath said.

Working president of MP Pradesh Congress Committee (PCC) Jitu Patwari said his party may move court against the BJP for having plotted to dislodge an elected government following the expose in the purported audio.

Mr Chouhan was reportedly addressing BJP workers of Sanware Assembly constituency in Indore on Monday when he allegedly said in Hindi, “The Central leadership (of BJP) decided that the (Kamal Nath) government should fall. They (the Kamal Nath government) will ruin and destroy … Tell me, was it possible to dislodge the government without Jyotiraditya Scindia and Tulsi Bhai? There was no other way.”  

The “Tulsi Bhai” referred to in the clip is former health minister who joined the BJP along with Mr Scindia.

“In the coming bypoll if Tulsi Silawat doesn’t become MLA again, will I be able to remain CM, will the BJP government survive?” he allegedly said, exhorting BJP workers to overcome their differences and work for Mr Silawat’s victory in the upcoming by-elections in the Sanwer Assembly seat.

Twenty-two Congress MLAs, loyal to Mr Scindia, had resigned from the Assembly leading to the fall of the Kamal Nath government on March 20, paving the way for Mr Chouhan to return as chief minister for the fourth time.

All the 22 ex-Congress MLAs later joined the BJP with Mr Scindia. Two of them, Mr Silawat and Govind Singh Rajput, have been inducted into the Shivraj Singh Chouhan Cabinet.

The BJP has vehemently denied any role in the collapse of the Kamal Nath government. Neither the saffron party’s Central leadership nor Mr Chouhan have reacted to the audio clip yet

But the party’s state spokesperson Rajneesh Agrawal dismissed the charge that it had a hand in the fall of the Kamal Nath government.

“Infighting in Congress had led to the fall of the Kamal Nath government,” he said.

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