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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Agencies
February 20,2020

Tokyo, Feb 20: One more Indian on board the cruise ship Diamond Princess quarantined off the coast of Japan was tested positive for novel coronavirus, the Indian Embassy in Tokyo said on Wednesday, adding that all seven Indian nationals infected with the virus have been shifted to hospitals in Japan for treatment.

"1 Indian crew who tested positive for #COVID19 among 88 new cases yesterday on #DiamondPrincess taken to hospital for treatment. Indians receiving treatment responding well. From today, the disembarkation of passengers only started, likely to continue till 21 Feb," the embassy tweeted.

"As of 2100 JST, altogether 7 Indian nationals (crew members on board #DiamondPrincess) are receiving treatment in hospitals in Japan, after testing positive for #COVID19 over last few days. Their health conditions are improving. 
@MEAIndia," the following tweet read.

A total of 138 Indians, including 132 crew and 6 passengers, were among the 3,711 people on board the luxury cruise ship which was quarantine off Japan on February 5 after it emerged that a former passenger had tested positive for the virus.

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News Network
March 9,2020

New Delhi, Mar 9: A war of words broke out between the BJP and the Congress on Sunday over the Yes Bank crisis with the ruling party seeking to link it with the Gandhi family, while the opposition wondered if the prime minister and finance minister were "complicit" as the bank's loan book grew manifold.

Posting on Twitter a clip of a news channel report that Rana Kapoor, the arrested Yes Bank founder, had bought a painting from Congress leader Priyanka Gandhi Vadra, BJP's information and technology wing in-charge Amit Malviya alleged that every financial crime in India has "deep links" with the Gandhis.

The Congress dismissed the charge "fake" and called it a "diversionary" tactic.

It said Priyanka Gandhi had sold an M F Hussain painting of her father Rajiv Gandhi to Kapoor for Rs 2 crore, and the entire amount was disclosed in her income tax return of 2010.

Malviya tweeted, "Every financial crime in India has deep link with the Gandhis. Mallya used to send flight upgrade tickets to Sonia Gandhi. Had access to MMS (Manmohan Singh) and PC (P Chidambaram). Is absconding. Rahul inaugurated Nirav Modi’s bridal jewellery collection, he defaulted. Rana bought Priyanka Vadra’s paintings."

Congress' chief spokesperson Randeep Surjewala asked how does an M F Hussain painting of Rajiv Gandhi sold 10 years ago by Priyanka Gandhi to Yes Bank owner Rana Kapoor and disclosed in her tax returns connect with unprecedented giving of loans of Rs 2,00,000 crore in five years of the Modi government.

"More so, when (Kapoor's) proximity to BJP leaders is well known," he said.

Rubbishing the BJP's allegation, Congress spokesperson Abhishek Manu Singhvi at a press conference said it was a "diversionary" tactic by the government.

He noted that the bank's loan book rose from Rs 55,633 crore in March 2014, the year Narendra Modi became prime minister, to Rs 2,41,499 crore in March 2019.

"Why did the loan book rise by 100 per cent in two years after demonetisation i.e from Rs 98,210 cr in March 2016 to Rs 2,03,534 ar in March 2018? Were PM and FM sleeping, ignorant or complicit?" he asked.

The entire amount Priyanka Gandhi had received was in cheque and was fully disclosed in the income tax return, Singhvi said.

Surjewala, taking to Twitter, said instead of diverting from the real issue of people's money sinking into a bad bank, should not the government answer questions like how did loans given by Yes Bank rise from Rs 55,633 crore in March 2014 to Rs 2,41,499 crore in March 2019, an increase of almost Rs 2,00,000 crore in fiver years of the Modi government.

Why did the loans given by Yes Bank rise by a whopping 100 per cent in just two years after demonetisation, he asked.

Surjewala also questioned why did the prime minister address a conference sponsored by Yes Bank on March 6 despite the RBI moratorium.

"Why did the Haryana BJP government deposit over Rs 1,000 crore in Yes Bank a month ago, knowing that it was sinking? Is this figure Rs 3,000 cr? Did Fadnavis government in Maharashtra make similar deposits?" Surjewala asked.

"Of course, the government's media proxies won't dare to ask these questions. But the nation wants to know!" he said in a series of tweets.

Kapoor, 62, was arrested by the Enforcement Directorate in Mumbai after charges of alleged financial irregularities and mismanagement in the bank's operations surfaced and the RBI and Union government initiated action to control its affairs.

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News Network
March 4,2020

Mar 4: Twenty-one Italian tourists and three Indian tour operators have been sent to an ITBP quarantine facility in Delhi on Tuesday for suspected coronavirus exposure, official sources said.

Health Ministry sources said these foreigners, 13 women and eight men, were in the same group of which an Italian and his wife have tested positive in Rajasthan capital Jaipur.

“His (Italian in Jaipur) condition is stable,” a source said.

Three Indians, who were accompanying this Italian group as tour operators, have also been sent to the ITBP facility in Chhawla area of south-west Delhi, they said.

All these people, staying at a five-star hotel in south Delhi, have been put in “preventive isolation” at the ITBP camp and their samples will be taken on Wednesday, sources said.

The centre already has 112 people, 76 Indians and 36 foreigners, since February 27 after they were evacuated by an IAF plane from Wuhan in China, the epicentre of the coronavirus.

The first samples of these 112 people had tested negative when reports came in last week.

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