Where should you buy the dip in this market? Sunil Subramaniam answers
Sunil Subramaniam, MD & CEO of Sundaram Mutual, predicts rapid rises and falls in sectors such as IT, pharma, metals, global cyclicals, and energy. He suggests that declines will likely occur in sectors that have experienced recent rapid growth due to news flows rather than fundamental factors. Subramaniam also advises caution in infrastructure-related sectors, as the market may have overestimated their potential. Key Points
Economic TimesPocket HRMS launches Digital Bharat 2.0 Mission for SMEs
Digital Bharat 2.0 will enable SMEs in India to digitalize their complete HRMS, payroll system and related compliances with intuitive and easy-to-use HR software over WhatsApp messaging platform in regional Indian languages. Key Points
mintCourt confirms Imran’s interim bail in 4 cases
A Pakistani court has confirmed the interim bail of jailed former PM Imran Khan in four cases related to the May 9 violence and others, according to a... Key Points
The Tribune IndiaAhead of 2024 polls, RSS brass meets Shah, Sitharaman & other ministers over economic policies
BJP and RSS hold meeting to discuss strategies on how to take PM Narendra Modi's economic policies to voters. Sangh affiliates also give feedback on impact of welfare schemes. Key Points
ThePrintRules amended to push sale of surplus power on bourses
Amendments have also been made to align the rules with statutory provisions related to accessing the national power grid. The rules lay that if outstanding dues are paid, the regulation of access will end and need to be restored within a day after the payment. Key Points
Economic Times
Rs 10 lakh each given to families of 2 who died while cleaning sewer
In her reply, Babariya said that the Rajkot Municipal Corporation (RMC) holds training programmes related to maintenance of safety while drainage cleaning work. And the late Afzal Pupar had also got training in two such programmes. Key Points
The Indian ExpressTime to extend your stay? 4 hotel & related services stocks with an upside potential of up to 33%
After almost two decades of being ignored by the street, in the last three years hotel and hospitality related stocks have been once again in focus of the street. Travel tourism and airlines, everything related to the hospitality sector suffered the maximum damage due to Covid-19. But as they say, tough times bring the best out of some. Some hotel companies used the Covid crisis to put their house in order. While they have seen a run up in the last two years and that is why if one looks at overall estimates, analysts seem to be cautious. However there are enough hotel assets, which are ready to be taken over under the asset light model, companies which are able to use them without compromising the brand value are likely to be the one which will emerge as a long term winner and probably that would lead to a change in the analyst estimates. Key Points
Economic Times₹2 crore challans issued in Delhi for Grap rule violations in last 17 days
MCD said that between November 2 and 18, more than 1,009 challans related to C&D activities have been issued with cumulative amount of ₹2.03 crore. | Latest News Delhi Key Points
Hindustan TimesZachery Ty Bryan gets bail. Know charges former child actor is facing
Former child artist Zachery Ty Bryan has got bail in a case related to two felony charges. He has been released from Oregon jail. Key Points
Economic TimesVeteran actor Sulochana passes away at 94
Actor Sulochana passed away on Sunday following age related health issues. She was 94. Key Points
The Indian Express
Arvind Kejriwal faces three legal challenges at once. Details here
Arvind Kejriwal will appear before the Central Bureau of Investigation (CBI) for questioning in the alleged Delhi excise policy scam case..Goa Police asked Kejriwal to appear on April 27 in a case related to the illegal sticking of posters. Key Points
mintSEBI probing Adani offshore deals for possible rule violations, say sources
The Supreme Court, in March, had asked SEBI to investigate the Adani Group for any lapses related to public shareholding, related party rules, or regulatory disclosures. SEBI suspects there were "disclosure violations" on some of transactions, sources have said. Key Points
India TodayUS House oversight panel asks Fed's Powell for SVB documents
The Republican-led U.S. House of Representatives Oversight Committee on Monday asked Federal Reserve Chair Jerome Powell to hand over confidential documents related to the central bank's supervision of failed Silicon Valley Bank. Key Points
ReutersHigh-level panel soon for implementing National Credit Framework
A senior official told ET that the government foresees multiple challenges in implementing the NCrF, including standardisation across different qualification frameworks while addressing the unique needs of each stream. Besides issues of data security and privacy related to Aadhaar-enabled data of millions of students in the country is also a huge challenge. Key Points
Economic TimesAir India pilot allows woman friend into cockpit midair, DGCA initiates probe
The DGCA has initiated probe after a pilot of an Air India flight allowed his female friend inside the cockpit of the aircraft midair. There was no information on if the pilot was taken off duty. Key Points
India Today
Dubious firm on ED’s radar for probe related to illegal sale of land
The Enforcement Directorate is investigating a Mumbai-based firm's alleged involvement in a money-laundering probe related to the illegal sale of land plots in Indore, Madhya Pradesh. The agency suspects the firm is linked to irregular transactions related to the proceeds of crime. The market value of these lands belonging to numerous societies is estimated to be more than ?1,000 crore. The agency recently carried out searches as part of its probe at six premises, including five residential premises in Indore and the premise of the shell entity based in Mumbai. | Mumbai news Key Points
Hindustan TimesGetting ready for another round of re-rating ? 6 defence stocks with “buy” recos with upside potential of
As other sectors dominated by PSU companies come into limelight, defence stocks which ignited the re-rating of PSU stocks have moved into consolidation mode for some time. The question is whether the business is in consolidation mode or not, the answer is tilting toward no. It appears the underlying developments in the sector continue to be going at the same pace or rather even more. Allowing 100 % FDI in space related industries, is probably an indication that focus on defence and related sectors continues. As things are shaping up, it appears the exports would also become a focus area. Key Points
Economic TimesUS NSA Jake Sullivan set to visit India this month
The proposed visit comes in the backdrop of the US government last week approving sale of 31 MQ9B drones to India. The Defence Security Cooperation Agency said the US state department gave the approval for drones and related equipment worth $3.99 billion. The agency said it had also delivered the required certification notifying Congress of the sale. Key Points
Economic TimesYet to finalise mechanism for regulating cryptocurrencies: Centre to SC
The Centre has informed the Supreme Court that it is yet to decide on a mechanism to regulate cryptocurrencies and investigate related offences. Additional Solicitor General Vikramjit Banerjee stated that the government is deliberating on the regulation of digital currencies and needs more time to file an affidavit with updated information. The court emphasized the need for appropriate safeguards against fraud and misuse of cryptocurrencies. The matter will be further heard on March 21. Key Points
Economic TimesKarnataka logs 125 fresh Covid-19 cases, three new deaths
In the last 24 hours, Karnataka recorded 125 new cases of Covid-19 and three deaths related to the virus. The total number of active cases in the state now stands at 436. In the same period, 30 patients were discharged, and a total of 3,155 tests were conducted, including 2,072 RT-PCR and 1,083 Rapid Antigen tests. The positivity rate is reported at 3.96%, and the case fatality rate is at 2.4%. Key Points
Economic Times
Plans afoot to rope in experts from IITs for tunnel audit team
This will include forming an audit team with experts from various IITs and setting up a world-class tunnelling centre under IIT Delhi to research and propose enhanced safety measures for tunnels that are benchmarked to international levels, the people said. They added that the move is aimed at preventing recurrence of mishaps like the recent Silkyara tunnel collapse in Uttarakhand in future. Key Points
Economic TimesRakshit Ranjan on stocks Marcellus has added in their portfolio
“There have been several changes in allocation. On average, we have been doing about, say, 8% to 10% portfolio churn only related to allocation over the last year or so and it has already started to yield healthy results. We increased our allocations in Dr Lal PathLabs and Divi's Lab.” Key Points
Economic TimesHuawei and Alibaba among companies seeking Chinese deepfake approvals
China's cyberspace regulator has received 110 applications from Chinese technology companies such as Huawei (HWT.UL) and Alibaba (9988.HK) for approvals related to models that can be used to manipulate visual and audio data. Key Points
ReutersMEA employee passes on information to Karachi, arrested for espionage
A person employed with the Ministry of External Affairs was arrested from Ghaziabad on charges of espionage. Police said the man had allegedly shared classified information related to the Ministry and the G20 meeting with a contact in Karachi, Pakistan, using WhatsApp. Key Points
India TodayShiv Sena, BJP will contest all future elections jointly: Eknath Shinde
The CM said issues related to agriculture and cooperation were discussed during the meeting. Several pending projects in the State have been streamlined now and they are on way to completion, he said. Key Points
The Hindu
G7 officials to convene and address challenges of ChatGPT like generative AI Tools. All details
G7 nations will convene to address challenges posed by generative AI tools like ChatGPT. The newly established ‘Hiroshima AI process’ aims to foster discussions and deliberations on the rapid expansion of AI. In their inaugural meeting on May 30, G7 officials will focus on AI-related concerns. Key Points
mintDelhi excise scam: Judicial custody of Manish Sisodia extended till June 1 in money laundering case
A Delhi court on Tuesday extended till June 1 the judicial custody of AAP leader Manish Sisodia in a money laundering case related to the alleged excise scam. The judge also directed the jail authorities to consider providing the politician a chair and a table along with books inside the prison. Key Points
Economic TimesMaharashtra government drops all charges against Mumbai ex-top cop Param Bir Singh, revokes suspension
At least four FIRs related to extortion were registered against Singh in Mumbai and adjoining Thane. The order revoking his suspension was issued by the state home department on Wednesday, the official said. Key Points
Economic TimesHere’s why Manappuram Finance shares crashed 10% today
At around 12:30 pm, shares of Manappuram Finance were down 9.56 per cent at Rs 117.30 apiece. Here's why shares of the non-banking financial company crashed on Wednesday. Key Points
India Today